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

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

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merger and acquisition (M&A)

An official previously mentioned that the regulator has been engaging with multiple corporations to explore muni bonds

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Real estate company Signature Global has bought a 16.12-acre land in Gurugram for nearly Rs 300 crore to develop a housing project, as it remains bullish on demand for mid-income and premium residential properties.
The land is located on Sector 71, Southern Peripheral Road, Gurugram, Haryana.
"We have purchased a 16-acre land parcel in Gurugram for the development of a premium housing project," Signature Global Chairman Pradeep Kumar Aggarwal told PTI.
He said the total development potential in this project would be around 27-28 lakh square feet area.
Asked about the land cost, Aggarwal said the total investment of the purchase of land is nearly Rs 300 crore.
He said the company had earlier done a joint development agreement with the landowner but now it has cancelled the same and bought this land parcel outrightly.
Aggarwal said the company has bought this land using internal accruals, as the company is generating operating surplus.
Signature will continue to look for land parc

Signature Global

Signature will continue to look for land parcels in Delhi-NCR region. It intends to enter the Noida and Greater Noida housing markets, expanding its footprint from the Gurugram

Real estate company Macrotech Developers has acquired nearly 20-acre land parcel in Bengaluru for  development of a housing project worth Rs 2,800 crore, as part of its expansion plan.
Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, has been acquiring land through outright purchases as well as forming partnerships with landowners for the joint development.
Out of the total, nearly 20 acre land was acquired in Bengaluru, the company has outright purchased some portion of land, while entering into joint development agreement with the landowner for the remaining part, sources said.
In its latest operational update for the December quarter, Macrotech Developers informed that the company has added one new project in Bengaluru with GDV (gross development value) of Rs 2,800 crore.
With this acquisition, the company now has five locations in Bengaluru.
These are expected to provide opportunity for significant pre-sales growth in Bengaluru from next .

real estate construction building

The company forayed into the Bengaluru housing market a few years back, expanding its footprint from Mumbai Metropolitan Region (MMR) and Pune market where it has a substantial market share

Tapering off in the BSNL deal expected over the next few quarters will aid TCS to expand profit margin, a senior company official has said.
The country's largest software exporter is also looking at creating a capacity of over 25,000 seats in Bengaluru over the long term on a land parcel acquired recently, Chief Financial Officer Samir Seksaria told PTI here.
"The same program (BSNL) as it tapers down at a portfolio level, at an overall level, there would be a benefit which would come in (on margins)," Seksaria said replying a specific question on the impact of BSNL deal's tapering down on margins.
He, however, declined to share a number on the positive impact on the operating profit front. For the December quarter, it reported operating profit margin at 24.5 per cent for December quarter and made it clear that it aims to expand on it.
Seksaria added that there would be a tapering down in the BSNL contract till the September quarter of FY26.
It can be noted that the over Rs ...

Samir Seksaria, Seksaria, Samir

Seksaria added that there would be a tapering down in the BSNL contract till the September quarter of FY26

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Artificial Intelligence, AI

The meeting saw the participation of more than 70 AIFs, with discussions focused on capital mobilisation and promoting funding for startups in smaller cities

Startups, Indian startups

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Games24x7

Health-tech platform Practo has reported a 22 per cent growth in revenue to Rs 240 crore for the 2023-24 financial year as it achieved a gross merchandise value of Rs 3,500 crore in the year, according to a company statement.
The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 from Rs 99 crore in the previous financial year, the statement said.
Practo stated that also achieved its first full profitable quarter in the last quarter of 2023-24 and is on its path to sustained profitability with consecutive profit in the preceding 12 months ending September 2024.
Practo cofounder and CEO Shashank ND said, "Our goal has always been on improving healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results.
The company delivered a gross merchandise value (GMV) of Rs 3,500 crore in the year ended on March 31, 2024. GMV is the total value of goods and services sol

Practo

The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 from Rs 99 crore in the previous financial year, the statement said

CII President Sanjiv Puri said that exports are facing headwinds while suggesting measures such as minimum import and anti-dumping duty

Sanjiv Puri

India has become a very important hub. But it's not the only hub for us to innovate, given our width of solutions

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Rossell Techsys MD Rishab Gupta discusses the firm's demerger from Rossell India and its entry into the space sector, highlighting a Rs 2,800 crore order book and a focus on defence and civil aviation

Rossell Techsys Managing Director Rishab Gupta

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