Page 2 - Birla Group

Aim is to double individual first-year premiums in 3 years: ABSLI CEO

We were focused on strengthening our margins and our persistency figures over the past three years, said Kamlesh Rao, MD & CEO of Aditya Birla Sun Life

IPO disclosures in AV format; SCI's demerged entity makes debut, and more

Shares of Popular Vehicles and Services, an automobile dealership firm, fell by over 6 per cent during their trading debut on Tuesday

Grasim Industries paints Rs 10K cr sales target in 3 years for Birla Opus

Further, it aims to become the second-biggest player in the Rs 80,000 crore Indian decorative paints market, which is currently dominated by Asian Paints

Birla Corporation Q3FY24 results: Company posts net profit of Rs 109.14 cr

Revenue on a consolidated basis stood at Rs 2,328.31 crore in Q3FY24, up by 14.7 per cent from Rs 2,024 crore in the year-ago period

Colonial legacy: Corporate control is a 200-year-old problem in India

Many of today's Indian conglomerates also began life this way. In 1958, more than a decade after the departure of British rulers, the Tata Group had nine agencies managing 60 companies

Indian economy is 'looking like a wow': Birla

India is striding forward with unwavering optimism even as large pockets of the world remain engulfed in pessimism, Birla added

Kumar Mangalam Birla's carbon black unit to raise $1.5 billion loan: Report

Proceeds from the sale will used mainly to refinance existing debt, with a smaller portion set aside to fund expansion, people familiar with the matter said

Avadh Sugar posts Rs 29-crore net profit in Q2, total income at Rs 799 cr

Avadh Sugar & Energy Ltd, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter ended September as against a loss of Rs 16 crore in the corresponding period a year ago. Total income of the Kolkata-headquartered company during the quarter stood at Rs 799 crore, compared to Rs 594 crore in the year-earlier period. The EBITDA of the firm also came in higher at Rs 78 crore from Rs 6 crore in July-September last year, Avadh Sugar & Energy Ltd said in a release. "The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency, it said. The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle. With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector, ...

Birla Corporation's net profit down 23% to Rs 85 crore in March quarter

M P Birla group's flagship company, Birla Corporation Limited, on Tuesday said the cement major posted a net profit of Rs 85 crore for the March 2023 quarter, down by 23 per cent over the corresponding period last year. The consolidated revenue for the March quarter was Rs 2,512 crore, representing a 7.6 per cent growth. The consolidated cement sales by volume for the March quarter grew 4.5 per cent year-on-year to 4.44 million tonnes, a record high, and even with the price remaining weak, the realisation was up 4.3 per cent over the same period last year at Rs 5,261 per tonne. The company stated that it concluded a challenging FY 2022-23 despite sluggish demand in most key markets during the year. During the year, the biggest challenge for the entire cement industry was an abnormal rise in power and fuel costs, which typically account for around 30 per cent of total production costs for all manufacturers. For Birla Corporation Limited, power, and fuel costs went up 32 per cent fo

Birla Estates buys land parcel in Mumbai, eyes revenue more than Rs 600cr

Realty firm Birla Estates on Monday said it has purchased a land parcel in South Mumbai to develop a premium housing project and is expecting a sales revenue of more than Rs 600 crore from this upcoming property. Birla Estates, which is the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Ltd, did not disclose the size of the land parcel and also the deal value. With a surge in housing demand post the second wave of the COVID pandemic that hit India in April-June 2021, real estate developers are aggressively acquiring land parcels -- outright as well as through partnership with landowners -- to expand their businesses. In a regulatory filing, Century Textiles and Industries Ltd informed that its subsidiary Birla Estates has acquired prime land parcel in South Mumbai's upmarket residential area of Walkeshwar at Malabar Hill. "The luxury project will hold a revenue potential of over Rs 600 crore," it said. K T Jithendran, MD and CEO, Birla Estat

India will have a unique place in the global economy: Kumar Mangalam Birla

In his annual note, Birla listed five trends that will have a multi-year impact on the world

Birla Group Holdings to raise funds through sale of commercial papers

The company will offer a yield of 7.85% for this issue for which it has received commitments worth around 2 billion rupees ($24.62 million) so far

India at 75: These pre-independence companies thrived in independent India

These companies that operated under the constraints of British rule before 1947 helped India become self-sufficient in various sectors after independence

Reliance Jio, Bharti Airtel, others gear up for mega 5G spectrum auction

The 5G auctions will be a financial boost for Prime Minister Narendra Modi's government, which is trying to tame inflation and rein in the fiscal deficit

India's cement sector to add 80-100 mt capacity by FY25: K M Birla

Birla said the new round of expansion by UltraTech will take its capacity to 159.25 mtpa, reinforcing its position as the third-largest cement company in the world, outside of China

IT firm Birlasoft first quarter profit doubles to Rs 113.6 crore

The company had posted a profit of Rs 56.3 crore for April-June 2020

Harsh Lodha wins Supreme Court battle, can head four Birla companies

Top court directed Calcutta HC to dispose of all outstanding appeals and cross-appeals over Lodha holding office as a director in MP Birla Group companies by next March

Calcutta HC dismisses contempt petitions against Harsh Vardhan Lodha

According to the Lodhas, the 'landmark judgment' clears the decks for Harsh Lodha to continue as the chairman of all companies of the MP Birla Group

Top headlines: India may get 1st vaccine by Feb, FMCGs expand rural reach

India is likely to issue an emergency use authorisation to at least one Covid vaccine by the end of January and health workers will be the first to be inoculated. More headlines in our evening roundup

Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

A top Tata group official said the group is really interested in getting into banking but it is too early to elaborate as only recommendations are out and work is in nascent stage