B.L. Kashyap and Sons bags Rs 157 crore order for Embassy Manyata Business Park project
B.L. Kashyap and Sons Limited announced on Friday, July 18, that it has secured a new work order worth ₹157.26 crore (excluding GST) from Manyata Promoters Private Limited. The contract is for civil and structural works of the Embassy Manyata Business Park office building project.
According to the company's regulatory filing to the BSE and NSE, the Letter of Intent (LOI) was received on July 18, 2025, at 11:00 AM. The project is expected to be completed within approximately 16 months.
The order is purely domestic, with no involvement of related party transactions or promoter group interests.
This new win further strengthens B.L. Kashyap's portfolio in executing large-scale commercial projects in India. The company stated that the work includes significant civil and structural works for the office building within the prominent Embassy Manyata Business Park in Bengaluru.
Investors and stakeholders may take note of this development as part of the company's ongoing growth strategy in the domestic construction and infrastructure sector.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
9 hours ago
- Business Wire
Dr. Reddy's Q1FY26 Financial Results
HYDERABAD, India--(BUSINESS WIRE)--Dr. Reddy's Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY) today announced its consolidated financial results for the quarter ended June 30, 2025. The information mentioned in this release is based on consolidated financial statements under International Financial Reporting Standards (IFRS). Q1 FY26 Revenues ₹ 85,452 Mn [Up: 11% YoY; Flat QoQ] Gross Margin 56.9% [Q1FY25: 60.4%; Q4FY25: 55.6%] SG&A Expenses ₹ 25,647 Mn [Up: 13% YoY; 7% QoQ] R&D Expenses ₹ 6,244 Mn [7.3% of Revenues] EBITDA ₹ 22,784 Mn [26.7% of Revenues] Profit before Tax ₹ 19,047 Mn [Up: 1% YoY; Down 5% QoQ] Profit after Tax attributable to Equity Holders ₹ 14,178 Mn [Up: 2% YoY; Down 11% QoQ Expand Commenting on the results, Co-Chairman & MD, G V Prasad said: 'We delivered double-digit growth this quarter over the same period last year, reflecting our strength in branded markets and positive momentum in the Nicotine Replacement Therapy portfolio. The pricing pressure on Lenalidomide is expected to intensify in the U.S. generics market. We remain focused on strengthening our base business by delivery of our pipeline assets, improving overall productivity and business development.' All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of 1 USD = ₹ 85.74 Expand Dr. Reddy's Laboratories Limited & Subsidiaries Revenue Mix by Segment for the quarter Particulars Q1FY26 Q1FY25 YoY Gr % Q4FY25 QoQ Gr% (₹) (₹) (₹) Global Generics 75,620 68,858 10 75,365 0 North America 34,123 38,462 (11) 35,586 (4) Europe 12,744 5,265 142^ 12,750 0 India 14,711 13,252 11 13,047 13 Emerging Markets 14,042 11,878 18 13,981 0 Pharmaceutical Services and Active Ingredients (PSAI) 8,181 7,657 7 9,563 (14) Others 1,651 212 678 132 1149 Total 85,452 76,727 11 85,060 0 ^Excluding Consumer healthcare (NRT) sales; YoY revenue growth is at 15% Expand Consolidated Income Statement for the quarter Particulars Q1FY26 Q1FY25 YoY Gr % Q4FY25 QoQ Gr% ($) (₹) ($) (₹) ($) (₹) Revenues 997 85,452 895 76,727 11 992 85,060 0 Cost of Revenues 429 36,825 354 30,383 21 441 37,797 (3) Gross Profit 567 48,627 541 46,344 5 551 47,263 3 % of Revenues 56.9% 60.4% 55.6% Selling, General & Administrative Expenses 299 25,647 265 22,691 13 281 24,055 7 % of Revenues 30.0% 29.6% 28.3% Research & Development Expenses 73 6,244 72 6,193 1 85 7,258 (14) % of Revenues 7.3% 8.1% 8.5% Impairment of Non-Current Assets, net - - 0 5 (160) 9 768 (100) Other (Income)/Expense, net (9) (739) (5) (470) 57 (29) (2,465) (70) Results from Operating Activities 204 17,475 209 17,925 (2) 206 17,647 (1) Finance (Income)/Expense, net (18) (1,570) (10) (837) 88 (27) (2,352) (33) Share of Profit of Equity Investees, net of tax (0) (2) (1) (59) (98) (1) (55) (98) Profit before Income Tax 222 19,047 220 18,821 1 234 20,054 (5) % of Revenues 22.3% 24.5% 23.6% Income Tax Expense 58 4,951 57 4,901 1 49 4,181 18 Profit for the Period 164 14,096 162 13,920 1 185 15,873 (11) % of Revenues 16.5% 18.1% 18.7% Attributable to Equity holders of the Parent Co. 165 14,178 162 13,920 2 186 15,939 (11) Attributable to Non-controlling interests (1) (82) - - - (1) (66) 24 Diluted Earnings per Share (EPS) 0.20 17.02 0.19^ 16.69^ 2 0.22 19.11 (11) ^Historical numbers re-casted basis the increased number of shares post share split. Expand Key Balance Sheet Items Particulars As on 30 th Jun 2025 As on 31 st Mar 2025 As on 30 th Jun 2024 ($) (₹) ($) (₹) ($) (₹) Cash and Cash Equivalents and Other Investments 853 73,169 797 68,299 1,115 95,599 Trade Receivables 1,110 95,137 1,055 90,420 946 81,088 Inventories 882 75,600 829 71,085 800 68,568 Property, Plant, and Equipment 1,199 1,02,784 1,140 97,761 943 80,813 Goodwill and Other Intangible Assets 1,255 1,07,572 1,267 1,08,613 483 41,374 Loans and Borrowings (Current & Non-Current) 567 48,644 545 46,766 358 30,675 Trade Payables 437 37,457 414 35,523 398 34,109 Equity 4,126 3,53,755 3,932 3,37,166 3,436 2,94,628 Expand Key Business Highlights for Q1FY26 Expanded partnership with Alvotech to co-develop, manufacture and co-commercialize pembrolizumab, a biosimilar candidate to Keytruda ®. Expanded collaboration with Sanofi to launch Beyfortus TM (Nirsevimab), a novel drug for preventing Respiratory Syncytial Virus (RSV) in India. Launched Sensimune in India, an immunotherapy product for house dust mite-induced allergies, in partnership with ALK-Abelló. ESG Highlights and other updates for Q1FY26 Improved rating by Carbon Disclosure Project (CDP) to 'A' in the Climate category, positioning us among the top 2% of the global companies assessed. We upheld our leadership status in the Water and Supplier Engagement categories. Received a Form 483 with two observations for Middleburgh API facility in New York. The USFDA has classified the inspection outcome as 'Voluntary Action Indicated (VAI)'. Received a Form 483 with two observations following GMP inspection conducted at CTO-5, our API facility in Miryalaguda, Telangana. All observations have been addressed and responded to within the stipulated timelines. Revenue Analysis Q1FY26 consolidated revenues stood at ₹85.5 billion, YoY growth of 11% and flat QoQ. Growth during the quarter was broad-based, aided by contributions from the acquired Consumer Healthcare portfolio in Nicotine Replacement Therapy ('NRT') and sustained performance in our branded markets. Global Generics (GG) Q1FY26 revenues at ₹75.6 billion, YoY growth of 10% and flat QoQ. North America Q1FY26 revenues at ₹34.1 billion, YoY decline of 11% and QoQ decline of 4%. The decline was primarily due to increased price erosion in certain key products including Lenalidomide. During the quarter, we launched five new products in the U.S. We filed one new Abbreviated New Drug Application (ANDA) with the USFDA during the quarter. Filings pending approval from USFDA - 73 includes: 70 ANDAs (43 are Paragraph IV applications, and 22 may have a 'First to File' status and 3 New Drug Applications (NDAs) filed under Section 505(b)(2) Europe Q1FY26 revenues at ₹12.7 billion, YoY growth of 142% and flat QoQ growth. This includes revenues from the acquired NRT business. NRT at ₹6.7 billion, QoQ growth of 12%. Germany at ₹3.2 billion, YoY growth of 13% and QoQ decline of 11%. UK at ₹1.7 billion, YoY growth of 10% and QoQ decline of 20%. Rest of Europe at ₹1.2 billion, YoY growth of 30% and QoQ growth of 9%. The growth in Europe was largely driven by revenues from the acquired NRT portfolio and incremental contributions from new product launches though partly offset by price erosion. QoQ performance remained stable as the impact of price erosion was balanced by gains from forex and increased volumes. During the quarter, we launched 13 new products in the region. India Q1FY26 revenues at ₹14.7 billion, YoY growth of 11% and QoQ growth of 13%. Growth for the quarter was driven by introduction of new products, price increases and commercial execution. As per IQVIA, our IPM rank was maintained at 10. During the quarter, we launched five new brands. Includes two Innovative assets Beyfortus (RSV Vaccine) & Sensimmune (Acarizex Slit) Emerging Markets Q1FY26 revenues at ₹14.0 billion, YoY growth of 18% and flat QoQ. YoY growth was largely driven by increased volumes of existing products, gains from new launches across multiple countries and favorable foreign exchange. QoQ performance remained stable as the gains from new product launches and favourable prices was largely offset by softer volume growth. Revenues from Russia at ₹7.1 billion, YoY growth of 28% and QoQ growth of 8%. YoY growth was due to higher volumes of existing products, new product introductions and favorable forex. QoQ gains reflect favourable forex, improved pricing and higher sales volumes. Revenues from other Commonwealth of Independent States (CIS) countries and Romania at ₹2.0 billion, YoY growth of 2% and QoQ decline of 20%. While YoY growth was supported by new product launches, whereas QoQ decline was due to lower volumes. Revenues from Rest of World (RoW) territories at ₹5.0 billion, growth of 13% YoY and flat QoQ. While YoY growth was due to higher sales volumes and new product launches, though partially moderated by price erosion, QoQ performance remained steady, as volume gains from existing products and recent launches were neutralized by price erosion. During Q1FY26, we launched 26 new products across countries. Pharmaceutical Services and Active Ingredients (PSAI) Q1FY26 revenues at ₹8.2 billion, YoY growth of 7% and QoQ decline of 14%. Growth during the quarter was driven by launch of new API products and favourable forex, partially offset by lower pricing and softer demand. Performance was further supported by growth in the pharmaceutical services business. QoQ decline was primarily attributable to seasonal volume softness. During the quarter, we filed 12 Drug Master Files (DMFs) globally. Income Statement Highlights: Gross Margin Q1FY26 at 56.9% (GG: 60.9%, PSAI: 13.2%), a YoY decline of 350 basis points (bps) and a QoQ improvement of 134 bps. YoY decline was primarily due to higher price erosion in generics segment and reduced operating leverage, partially offset by favorable product mix. Selling, General & Administrative (SG&A) Expenses Q1FY26 at ₹25.6 billion, YoY increase of 13% and QoQ growth of 7%. The YoY increase was driven by strategic investments in consumer healthcare business segment, including the NRT and Nestlé JV. Other SG&A expenses stayed mostly unchanged from last year, reflecting cost discipline across core operations. The QoQ reflects targeted investments to enhance brand visibility and expand coverage across branded markets. Research & Development (R&D) Expenses Q1FY26 at ₹6.2 billion. As % to Revenues – Q1FY26: 7.3% | Q1FY25: 8.1% | Q4FY25: 8.5%. R&D investments were focused on building a robust pipeline of high-value products, spanning complex generics, biosimilars, APIs and novel biologics with particular emphasis on oncology, peptides and injectables and aimed at developing first to market formulations. Net Finance Income/Expense Q1FY26 income at ₹1.6 billion compared to ₹0.9 billion in Q1FY25. Profit before Tax Q1FY26 at ₹19.0 billion, a YoY growth of 1% and a QoQ decline of 5%. As % to Revenues – Q1FY26: 22.3% | Q1FY25: 24.5% | Q4FY25: 23.6%. Income Tax Q1FY26 at ₹5.0 billion. As % to PBT – Q1FY26: 26.0% | Q1FY25: 26.0% | Q4FY25: 20.8%. Profit attributable to Equity Holders of Parent Company Q1FY26 at ₹14.2 billion, a YoY growth of 2% and a QoQ decline of 11%. As % to Revenues – Q1FY26: 16.5% | Q1FY25: 18.1% | Q4FY25: 18.7%. Diluted Earnings per Share (EPS) Q1FY26 is ₹17.02. Other Financial Highlights: EBITDA Q1FY26 at ₹22.8 billion, YoY growth of 5% and QoQ decline of 8%. As % to Revenues – Q1FY26: 26.7% | Q1FY25: 28.2% | Q4FY25: 29.1%. Others: Operating Working Capital: As on 30 th June 2025 at ₹133.3 billion. Capital Expenditure: Q1FY26 at ₹6.8 billion. Free Cash Flow: Q1FY26 at ₹4.5 billion. Net Cash Surplus: As on 30 th June 2025 at ₹29.2 billion Net Debt to Equity: As on 30 th June 2025 is (0.08) Annualized Return on Capital Employed (RoCE): Q1FY26 stood at 22.0% About key metrics and non-GAAP Financial Measures This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical performance, financial position or cash flows that are adjusted to exclude or include amounts from the most directly comparable financial measure calculated and presented in accordance with IFRS. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Our non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. These measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business. For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please refer to "Reconciliation of GAAP to Non-GAAP Results" table in this press release. All amounts in millions, except EPS Net Cash Surplus and Debt to Equity Particulars As on 30 th Jun 2025 (₹) Cash and Cash Equivalents 9,004 Investments 64,165 Short-term Borrowings (38,381) Long-term Borrowings (Current & Non-current) (10,263) Less: Restricted Cash Balance – Unclaimed Dividend and others 292 Lease liabilities (Included in Short-term and Long-term Borrowings) (6,463) Equity Investments (Included in Investments) 1,476 Net Cash Surplus 29,220 Equity 353,755 Net Debt/Equity (0.08) Expand Computation of Capital Employed: Particulars As on Jun 30, 2025 Mar 31, 2025 Property Plant and Equipment 102,784 97,761 Intangibles 95,597 96,803 Goodwill 11,975 11,810 Investment in Equity Accounted Associates 4,938 4,811 Other Current Assets 31,768 30,142 Other Investments 6,481 10,391 Other Non-Current Assets 939 972 Inventories 75,600 71,085 Trade Receivables 95,137 90,420 Derivative Financial Instruments 38 (729) Less: Other Liabilities 47,254 48,788 Provisions 6,789 6,324 Trade payables 37,457 35,523 Operating Capital Employed 333,757 322,831 Average Capital Employed 328,294 Expand Computation of EBITDA Refer page no. 3 & 4. About Dr. Reddy's: Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of 'Good Health Can't Wait', we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil, and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management's current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates , interest rates, persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization , including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers', products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2025 and our other filings with US SEC. The company assumes no obligation to update any information contained herein.
Business Upturn
17 hours ago
- Business Upturn
Infosys Q1 Results: Raises FY26 Constant Currency Revenue Growth guidance to 1-3% from 0-1%
Infosys Limited reported its financial results for the quarter ended June 30, 2025 (Q1 FY26), showing muted growth amid weak discretionary spending and macroeconomic headwinds. The company also shared a cautious outlook for the full year FY26. Q1 FY26 Results: Revenue: ₹38,920 crore, up 0.8% QoQ from ₹38,610 crore in Q4 FY25. Net profit: ₹6,153 crore, up 3.1% QoQ from ₹5,973 crore in Q4 FY25. Operating profit: ₹7,981 crore, up slightly from ₹7,888 crore QoQ. Operating margin: 20.5% vs 20.4% QoQ — stable. Earnings per share (EPS): ₹14.66 vs ₹14.20 QoQ. While the revenue grew marginally sequentially, cost control and higher other income supported profitability. FY26 Guidance: Infosys issued a subdued outlook for FY26: Revenue growth (constant currency): 1% to 3% YoY. Operating margin: Expected to be in the range of 20%–22%. 'Q1 performance is a clear reflection of our unwavering focus on multiple fronts resulting in strong growth at 2.6% QoQ, resilient margins at 20.8% and EPS increase of 8.6% YoY. We continue to leverage Project Maximus to make investments in strategic priorities to drive profitable growth and enhance shareholder value', said Jayesh Sanghrajka, CFO. 'Cash flow conversion was well above 100% for the fifth consecutive quarter. The impact of currency volatility was effectively managed through our proactive hedging strategy', he added. Infosys added that it remains confident about its long-term digital transformation opportunities and will continue to invest in capability building and client partnerships. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
17 hours ago
- Business Upturn
Maruti Suzuki introduces 6 airbags in XL6, prices hiked by up to 0.8%
By Aditya Bhagchandani Published on July 23, 2025, 15:21 IST Maruti Suzuki India Limited (MSIL) has announced the introduction of 6 airbags in its XL6 model, enhancing the vehicle's safety features. The announcement was made through a regulatory filing on July 23, 2025. According to the company, this safety upgrade has led to an increase in the ex-showroom price of the XL6 by up to 0.8%, effective immediately from July 23. The company has communicated this price revision and the introduction of airbags to both the BSE and the National Stock Exchange. Sanjeev Grover, Executive Officer & Company Secretary at MSIL, signed off the notice, informing stock exchanges and stakeholders about the development and requesting them to take it on record. The XL6 is part of Maruti Suzuki's premium offering in the MPV segment, and this update aligns with growing consumer demand for higher safety standards in vehicles sold in India. This enhancement underscores Maruti Suzuki's ongoing efforts to improve the safety of its vehicles while maintaining competitive pricing. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
