Page 3 - Welspun

Welspun posts net profit at Rs 385 crore in Sep quarter on robust demand

Welspun, which also operates in the United States and Saudi Arabia, said its revenue from operations surged more than two-fold to Rs 4,059 crore, backed by its core steel products

Welspun India Q2FY24 result: Net profit jumps 2305% YoY to Rs 200.4 cr

The revenue from operations for Q2FY24 stood at Rs 2,509.08 crore, compared to Rs 2,113.46 crore year-on-year

Welspun One to set up in-city warehousing facility in Thane worth Rs 600 cr

Integrated fund and development management platform Welspun One on Wednesday said it will set an in-city warehousing facility in Thane with an outlay of around Rs 600 crore. The facility is strategically located in close proximity to the prime eastern suburbs of Thane and Mulund and the eastern express highway, as per the company. This marks the first deployment of Welspun One Logistics Parks Fund 2, a category II AIF vehicle, which has secured commitments of Rs 1,500-crore out of a target raise of Rs 2,000-crore to date, the company said. The Thane project, which entails a project outlay of approximately Rs 600-crore, will include dedicated docks, dust-free parking bays, vertical transportation facilities, among others, it said. "We are launching our first Grade-A in-city facility in Thane, MMR. The surge-in demand for in-city warehousing spaces, with projected requirements reaching 16-million square feet in Mumbai Metropolitan Region by FY 28, is undeniable," said Anshul Singhal,

Welspun Enterprises Q1FY24 results: Net profit jumps 258% YoY to Rs 89 cr

The total income for Q1FY24 came in at Rs 709.45 crore, compared to Rs 690.84 crore year-on-year

Welspun One Logistics Parks' warehousing-focussed fund raises Rs 1,000 cr

Welspun One Logistics Parks (WOLP) on Tuesday said it has raised Rs 1,000 crore within four months of launching its second warehousing-focussed fund. The company also announced the opening of its "green shoe" option to raise an additional Rs 1,000 crore. The potential corpus could reach Rs 2,000 crore upon completion of the green shoe option, which would rank it among the largest in the domestic real estate alternatives space, WOLP said in a statement. The plan entails an overall investment outlay of over Rs 8,000 crore, which will propel Welspun One to an Assets under management (AUM) of USD 1 billion, it said. "We are deeply grateful to our investors for their unwavering faith in us, which has powered our successful second fund-raise," said Anshul Singhal, Managing Director at WOLP. The warehousing sector continues to exhibit strong growth with record-high demand of 51.3 million square feet in FY23, implying a CAGR of 24 per cent during FY17-23, according to the company. With a

Welspun One's 2nd warehousing-centric fund raises Rs 1,000 cr in 4 months

Welspun One has also announced the opening of its "green shoe" option to raise an additional Rs 1,000 crore

Will leverage Christy's association with Wimbledon: Welspun India MD

Home textiles major Welspun India will look at opportunities to leverage on the association of its brand Christy with the Wimbledon tennis championships for international market expansion of the British label, according to company MD & CEO Dipali Goenka. This year, apart from the conventional classic green and purple towel the company has also created a line with a range of blooms in seasonal pink and fuchsia for Wimbledon, keeping in line with the tournament's vision and colour conversation that transcends gender. Christy became the official towel manufacturer and supplier for Wimbledon in 1988 and Welspun's association with Wimbledon began in 2006 when it acquired Christy. "The partnership, and what we have with Wimbledon is something that we feel very proud of because the towels are made in India for the world and for Wimbledon," Goenka told PTI. While Wimbledon towels are "very seasonal", she said it is the retail sales of Christy that it garners not just in the UK but also in

Welspun Corp net profit falls 8.90% to Rs 240 cr in March quarter

Welspun Corp Ltd (WCL) posted an 8.90 per cent decline in its consolidated net profit to Rs 240.08 crore for the January-March quarter, hit by higher expenses. It had clocked a net profit of Rs 263.56 crore during the January-March quarter of the preceding financial year (FY) 2021-22, the company said in a regulatory filing. The company's total income rose to Rs 4,132.38 crore, from Rs 2,413.48 crore in the year-ago quarter. Its expenses rose to Rs 3,835.55 crore from Rs 2,033.16 crore in the January-March period of FY22. In a separate statement, B. K. Goenka, Chairman, Welspun Group said, "We have seen flawless execution and delivery for our customers resulting in strong cash flows and a substantial reduction in net debt. The acquisition of the plastic products business of Sintex has given us a head start in our foray into the B2C segment. "This will result in significant value creation for all our stakeholders in addition to providing growth to the existing business portfolio."

Welspun One Logistics Parks raises Rs 500 cr under 2nd AIF in initial phase

Welspun One Logistics Parks (WOLP) on Monday said it has successfully concluded the initial close of its second Alternative Investment Fund (AIF), WOLP Fund 2, raising Rs 500 crore in eight weeks. WOLP Fund 2 was launched in March and aims to raise a corpus of Rs 2,000 crore, including a green-shoe option of Rs 1,000 crore, the company said in a statement. The sum of Rs 500 crore was raised from domestic high net worth and family office investors, it said and added that the speed of the raise underscores the strong investor confidence in both, the Welspun One platform and the prospects of the warehousing and industrial sector in India. We have witnessed an exceptional investor response, as the first round of WOLP Fund 2 successfully closed at INR 500 crore within an 8-week timeframe, which is a record of sorts in the alternative investments space, said Anshul Singhal, Managing Director at Welspun One Logistics Parks. Along with project-level debt, this is expected to give the fund

Stocks to watch: Bajaj Auto, Nestle India, Nykaa, IndusInd Bank, Welspun

Stocks to watch today: From Bajaj Auto to Nestle India, here are top stocks to watch in Tuesday's trade

Welspun India board of directors to consider proposal to buyback of shares

The outcome of the Board meeting will be communicated to the stock exchanges after conclusion of the Board meeting on April 27, 2023

Welspun Corp Limited subsidiary completes acquisition of Sintex-BAPL

Propel Plastic Products Private Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL), has discharged the consideration to the creditors of Sintex-BAPL Limited

Welspun India reports 68% drop in Q3 profit due to rising inflation

Analysts had, on average, expected a profit of 609.5 million rupees, according to Refinitiv IBES data

Welspun completes sale of six road assets to Actis for Rs 6,025 crore

Welspun exited 49 per cent of the BOT toll road and the remaining 51 per cent will require clearances expected to be completed by March 2024, it said in an exchange filing

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Global Investors' Meet: WOLP signs MoU with K'taka govt to invest Rs 2k cr

Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organisation, on Thursday said it has signed a memorandum of understanding (MoU) with the government of Karnataka to invest Rs 2,000 crore and aims to create over 6,000 jobs. The company plans to broaden its presence in the warehousing sector in South and signed the MoU at the ongoing Invest Karnataka: Global Investors' Meet. Welspun One seeks to utilise government and private land parcels in the State for the construction of Grade 'A' warehouse facilities and logistics parks, the company said in a release. WOLP said the warehousing facilities and logistics parks would spread across 6.28 million sq. ft. and be built over a 5-year period which would generate more than 6,000 jobs. "Our investment of INR 2,000 crores not only paves the way for Welspun One to expand into the growing warehousing and logistics market but also significantly demonstrates our ongoing dedication to the Indian economy,"

Delhivery set to expand infra footprint in Greater Mumbai, Bengaluru

Ties up with Welspun for a 700,000 sq ft mega-gateway in Greater Mumbai, and with GMR for one million-plus sq ft in Bengaluru; both will be operational by 2023

Welspun India to raise Rs 500 crore via non-convertible debentures

Welspun India is part of Welspun Group, a conglomerate that has business interests in sectors including line pipes, home textile products, infrastructure, warehousing, steel, oil and gas

India initiates anti-dumping probe against imports of vinyl tiles

They have submitted that the industry and the product are at a nascent stage

Welspun group co to build 1 mn sq ft warehousing for Bengaluru City Region

Will invest Rs 300 crore in the project, which is coming up on 40 acres at Malur-Hosur road in Tamil Nadu