Business conglomerate Godrej Industries Ltd on Tuesday reported an 81 per cent increase in consolidated net profit at Rs 322.49 crore for the April-June quarter of 2024, on higher income.
Its net profit stood at Rs 178.06 crore in the year-ago period.
Total income increased to Rs 5,259.41 crore in the April-June period of 2024-25 fiscal, from Rs 4,893.40 crore in the corresponding period of the previous year, according to a regulatory filing.
Godrej Industries has presence in chemicals, estate management (real estate), finance & investments.
On business performance of its subsidiaries, joint ventures and associate companies, Godrej Industries said the consolidated sales of Godrej Consumer Products Ltd (GCPL) stood at Rs 3,311 crore in the first quarter of this fiscal.
Godrej Properties' total Income grew to Rs 1,638 crore in April-June period of this fiscal, from Rs 1,315 crore in the year-ago period.
Godrej Agrovet's total income declined to Rs 2,360 crore in the period under ..

Godrej Industries has presence in chemicals, estate management (real estate), finance & investments

Press Trust of India

Patel Engineering Ltd on Tuesday reported a 25.81 per cent rise in its consolidated net profit to Rs 48.17 crore in the April-June quarter of 2024.
It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing.
The company's revenue from operations declined by 1.52 per cent to Rs 1,101.66 crore in the June quarter.
It was at Rs 1,118.61 crore in the year-ago period.
Patel Engineering's Managing Director Kavita Shirvaikar said, "Our focus remains on delivering long-term value for our stakeholders while continuously enhancing operational efficiency and output."
"With this strong foundation in place, we are poised to build a brighter future for Patel Engineering Limited and creating lasting value for India's infrastructure development," she added.
The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing

Nykaa Q1FY25 results: Ebitda surged over 30% Rs 96 crore in April-June quarter compared to Rs 73 crore last year

Business Standard

A US federal judge's decision to seek a fuller explanation from prosecutors before approving the dismissal of criminal charges against Indian billionaire Gautam Adani is a procedural requirement and does not signal that the case is likely to proceed, according to a senior US lawyer familiar with federal criminal practice.
"The judge's order is procedural," lawyer Chris Man said.
Under Rule 48(a), the Department of Justice must obtain leave of court to dismiss an indictment, and judges can ask questions or seek additional briefing before ruling. "That, by itself, is not unusual," he said.
The lawyer added that there is little precedent for a federal court compelling prosecutors to continue pursuing a criminal case once the Justice Department has decided it should be dismissed.
Judges "have little discretion," he said. "There is effectively no modern precedent for a judge forcing the Department of Justice to prosecute a case that the executive branch has determined should be abandone

Gautam Adani, Adani

The lawyer added that there is little precedent for a federal court compelling prosecutors to continue pursuing a criminal case once the Justice Department has decided it should be dismissed

Zerodha has applied for a Category 1 merchant banking licence from Sebi, marking its entry into IPOs and corporate finance as it diversifies beyond broking

Zerodha

Waaree Energies said a US Customs investigation found no evidence that it exported solar modules made with Chinese-origin cells and that its US operations remain unaffected

solar

Realty firm Prestige Estates Projects Ltd has around Rs 65,000 crore of unrecognised revenue in its account, driven by strong sales of its housing properties during the last three financial years.
Prestige Estates achieved a record sales bookings of Rs 30,024 crore during the 2025-26 fiscal, up 76 per cent from the preceding year.
In an interview with PTI, Prestige Estates Chairman Irfan Razack said, "We have got about Rs 65,000 crore of unrecognised revenue in the book. It is not a small amount".
He mentioned that the company follows the completion method for recognition of revenues. This means that revenue gets recognised once the real estate project gets completed.
However, Razack said the company is in discussion with auditors to shift towards the percentage of completion method.
On the outlook for the current fiscal, the company's chairman was hopeful that sales bookings and new launches would be better than those in 2025-26, as housing demand continues to be good despite glo

Irfan Razack

The real estate developer's unrecognised revenue has swelled to around ₹65,000 crore, supported by strong housing sales and record booking values over the past three financial years

Realty firm Embassy Developments will invest Rs 1,500 crore to construct a 3 million sq ft office complex in Bengaluru as part of its strategy to generate rental income from commercial assets.
The company is mainly into housing segment with presence across Bengaluru, Mumbai Metropolitan Region (MMR) and Delhi-NCR.
In an interview with PTI, Embassy Developments Managing Director Aditya Virwani mentioned that the company's focus would largely remain on the growing residential business.
However, he said the company would build office assets for rental income.
Virwani said the company will develop a large 35-acre office complex in Bengaluru comprising 6 million sq ft area.
"We will develop this project is two phases. The construction of first phase covering 3 million sq ft has started," he said.
Asked about investments for the first phase, Virwani said it would be around Rs 1,500 crore, excluding land cost.
Virwani said the office spaces would be leased to corporates.
Bullish on In

aditya virwani

The realty firm has started construction of the first phase of a 6 mn sq ft office complex in Bengaluru, aiming to strengthen rental income portfolio while continuing to focus on residential growth

MSME fintech firm Progcap aims to raise up to USD 45 million (approximately Rs 425 crore) from share sales in FY28 to expand its lending business.
"We are planning a capital raise through equity dilution next financial year," Progcap co-founder Himanshu Chandra told PTI.
It would be through private placement of shares, and the quantum could be in the range of USD 40-45 million, depending on the valuation, he said.
"We have enough capital to take care of growth needs for the current financial year. We may look at dilution of equity next financial year," he said, adding that the dilution would be in the single digit.
The fintech firm, which obtained an NBFC licence in 2022, has been witnessing very high growth in MSME lending, especially wholesalers and retailers.
The fintech is currently present in 500 cities, Tier II, III and IV cities, with over 30,000 borrowers having an average ticket size of Rs 10 lakh.
The lending firm focuses on loans to retailers and wholesalers across 10 

investment, funds, funding

The fintech firm plans to raise up to $45 million through a private placement of shares next financial year to support the expansion of its MSME lending operations

With India's electric vehicle adoption crossing the 'early adopters' phase, Tata Motors Passenger Vehicles is turning to majority of customers to drive EV adoption with four new products and over ten refreshes lined up for launch by FY31 to sustain its leadership position.
Early Adopters are those consumers who adopt a new idea or technology to gain a competitive edge.
The company is preparing for the next phase of growth in its electric vehicles segment, eyeing over 30 per cent EV penetration by FY31, according to an investor presentation.
"Currently, EVs are being considered by the early majority; we will enhance products to drive adoption among early and late majority customers," the company said.
Early majority consumers are those who need to see successful case studies before buying, while late majority consumers are skeptical individuals who adopt only after the average person has adopted a new idea or technology.
EV adoption in India has crossed "from early adopters into th

tata motors passenger vehicles

The company is preparing for the next phase of growth in its electric vehicles segment, eyeing over 30 per cent EV penetration by FY31

The ed-tech startup will use the fresh capital to strengthen its AI capabilities, expand its NEET-focused platform and build personalised AI mentors for students

Ed-tech, startup, Lytmus AI

Stepping down as CEO, Hari Menon says BigBasket initially underestimated quick commerce and now expects the Tata-owned firm to prioritise profitability over market share

Hari Menon, co-founder of BigBasket

Health-tech start-up SuperLiving has raised $7 million in a Series A round led by Lightspeed to expand its AI-driven wellness and preventive healthcare platform

(L-R) Manavdeep Singh Grover, Founder & CEO, SuperLiving and Gurjot Kaur, Co-Founder, SuperLiving

Airbound will work with Andhra Pradesh Drone Corporation to develop a scalable drone delivery network across the Amaravati Capital Region, targeting 10,000 daily flights

Drone startup Airbound raises $1.7 million funding, to focus on deliveries

Hinduja Renewables plans to scale capacity to 10 GW by 2030, betting on solar, wind, hybrids and pumped storage to drive its next phase of growth

Deepak Thakur, HInduja

Standard Chartered expects strong FCNR(B) inflows from key overseas centres as RBI's latest measures boost foreign currency deposits and cross-border banking

PD Singh, CEO India & South Asia, Standard Chartered Bank

MD & CEO Sashidhar Jagdishan's tenure ends this October

HDFC Bank, HDFC Bank chairman, HDFC Bank CEO, Sashidhar Jagdishan, Atanu Chakraborty, Keki Mistry, HDFC Bank board, HDFC Bank leadership, HDFC Bank chairman appointment, HDFC Bank CEO reappointment, HDFC Bank governance, HDFC Bank legal review, HDFC

Speaking on the development, a company spokesperson said India is one of Uber's most important markets globally and an important driver of innovation and long-term growth

Prabhjeet Singh, President of Uber India and South Asia

Ashwani Kumar, Managing Director and Chief Executive Officer (MD&CEO), UCO Bank

We are conducting a saturation drive for inoperative PMJDY accounts, meeting customers one-on-one to encourage them to operate their accounts, says Ashwani Kumar

Pham Sanh Chau

VinFast is committed to making EVs more accessible while contributing to economic growth through investment and local job creation.

Yogesh Mathur, Director-Sales & Marketing, HMSI

Two-wheeler demand likely to remain tepid until festival season, says HMSI

JSW joint managing director and chief executive officer Jayant Acharya

Q1 was disrupted by plant maintenance shutdowns at Dolvi and Bhushan Power and Steel (BPSL), which had an impact on our costs both for capex and operations

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