Latest news with #Capacit'e
Hindustan Times
3 days ago
- Business
- Hindustan Times
HC stays MahaRERA order to appoint new developer for Anantya SRA
MUMBAI: The Bombay high court recently stayed an order passed by the Maharashtra Real Estate Regulatory Authority (MahaRERA) that allowed a new developer, Chandak Realtors, to take up a slum rehabilitation project in Kurla without addressing the rights of previous stakeholders. Initially, Radius & Deserve Builders LLP was appointed as the developer for the Anantya slum rehabilitation project, which involved the construction of free sale buildings and housing for slum dwellers. Later, Capacit'e Infraprojects Ltd was appointed as a contractor to carry out civil engineering and construction work. As part of the agreement, Capacit'e was allotted 10 flats in the project. However, due to pending corporate insolvency proceedings against Radius & Deserve, the Slum Rehabilitation Authority (SRA) in September 2021 appointed Chandak Realtors Pvt Ltd as the new developer. Subsequently, Chandak approached MahaRERA in September 2022 seeking a fresh registration of the project, arguing that the liabilities created by Radius should not be imposed on it. In March 2023, MahaRERA approved the fresh registration of the project. Capacit'e then challenged the order, arguing that it was passed under a suo-moto (on its own) proceeding despite the matter under consideration being an application filed by Chandak. 'A suo-moto power to be exercised, in such circumstances, cannot be traced under the RERA Act and that too by constituting a full bench so as to pass such [an] order,' senior advocate Sharan Jagtiani, representing Capacit'e, told the court. He further objected to the blanket observations made in the order, which he said completely obliterates Capacit'e's rights to the 10 flats granted by the previous developer. Senior advocate Ravi Kadam, representing Chandak Realtors, contended that Capacit'e's claims stand against Radius and not Chandak. Therefore, whatever rights Capacit'e has with respect to Radius cannot be asserted on Chandak, he said. The division bench of justices GS Kulkarni and Advait Sethna found prima facie substance in Capacit'e's contentions and granted a stay on the MahaRERA order. The bench questioned the suo-moto aspect of the case, considering the application was moved on behalf of Chandak. 'Considering the provisions of the RERA Act, prima facie, we do not find any such powers being conferred on the authority to constitute such [a] full bench and pass such orders as suo moto orders,' it said. 'Prima facie the reading of the impugned order, so as to fall outside the provisions of the RERA Act, also does not appeal to us, more particularly for the reason that such [an] order could not have been passed in complete violation of the principles of natural justice, when it categorically affects the third parties like the petitioner,' it added.
Yahoo
15-02-2025
- Business
- Yahoo
Capacit'e Infraprojects Ltd (BOM:540710) Q3 2025 Earnings Call Highlights: Strong Revenue ...
Revenue (9 months FY25): INR 1,678 crores, up 26% from INR 1,333 crores in 9 months FY24. EBITDA (9 months FY25): INR 318 crores, up 31% from INR 243 crores in 9 months FY24. EBITDA Margin (9 months FY25): 18.7%, compared to 17.9% in 9 months FY24. EBIT (9 months FY25): INR 248 crores, up 52% from INR 163 crores in 9 months FY24. EBIT Margin (9 months FY25): 15.2%, compared to 12.1% in 9 months FY24. PAT (9 months FY25): INR 151 crores, up 120% from INR 69 crores in 9 months FY24. PAT Margin (9 months FY25): 8.9%, compared to 5.1% in 9 months FY24. Revenue (Q3 FY25): INR 590 crores, up 23% from INR 481 crores in Q3 FY24. EBITDA (Q3 FY25): INR 101 crores, up 12% from INR 89 crores in Q3 FY24. EBITDA Margin (Q3 FY25): 16.7%, compared to 18.5% in Q3 FY24. EBIT (Q3 FY25): INR 76 crores, up 57% from INR 83 crores in Q3 FY24. PAT (Q3 FY25): INR 52 crores, up 77% from INR 30 crores in Q3 FY24. PAT Margin (Q3 FY25): 8.7%, compared to 6.1% in Q3 FY24. Order Book (as of December 31, 2024): INR 10,047 crores, with 63% from public sector and 37% from private sector. New Projects Awarded (9 months FY25): INR 1,459 crores. Total Fresh Order Intake (as of date): INR 2,579 crores. Warning! GuruFocus has detected 9 Warning Signs with OHEL:TTALO. Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Capacit'e Infraprojects Ltd (BOM:540710) reported a strong financial performance with a 26% increase in revenue for the first nine months of FY25 compared to the same period in FY24. The company achieved a significant 120% increase in PAT for the nine months of FY25, setting a new performance benchmark. Capacit'e Infraprojects Ltd has a robust order book, with new projects worth INR2,579 crores secured during the nine months ending December 2024. The company is positioned as L1 in projects worth INR600 crores, indicating potential future order inflows. The company is experiencing strong traction in both private and public sector projects, with a diversified order book supporting high growth. The Q3 FY25 operational margin was impacted by a one-time expense of INR12 crores related to a differential GST rate, affecting the EBITDA margin. There are ongoing litigations and provisions, with the company working to recover amounts provided for during the COVID period. The cost of materials increased by 45% year-on-year, impacting overall expenses. The company's other income saw a significant increase, which may not be consistent in future quarters. There are concerns about payment delays from state-funded projects, although the company has mitigated this risk by working with clients who have their own sources of income. Q: Capacit'e has a strong track record in high-rise construction, yet this segment only contributes 7% of your project split. Do you see this segment becoming a larger part of your revenue mix in the coming years? A: The super high-rise segment remains important. We are constructing 10 towers of 300 meters each in a joint venture with Tata Projects. We have also bid for projects with private sector clients for towers over 280 meters. We continue to focus on this segment and are a preferred contractor for super high-rises. Q: The data center market in India is booming. What steps is Capacit'e taking to position itself as a first-choice contractor for data center construction? A: We have constructed 11 data centers for the Department of Telecommunications and are working on two more. We are participating in a large data center project on an EPC basis and are looking for collaborations on design. We aim to be a strong contender for data centers in both public and private sectors. Q: You guided for INR3,000 crores worth of order inflows. At the end of 9 months FY25, you are at INR1,459 crores. Do you still maintain your guidance? A: We have announced an order of INR1,120 crores, taking the total to INR2,579 crores. We are in an L1 position for projects worth INR600 crores. We are confident of surpassing INR3,000 crores in fresh order intake this financial year and expect to cross INR4,000 crores with MHADA land release. Q: Your other income has increased drastically year-on-year. What is the reason for this increase, and will it be consistent? A: The INR10 crores in other income is from specialized items traded to joint venture companies. This will range between INR2 crores to INR12 crores over the next three to four quarters. Q: The cost of material has gone up 45% year-on-year. Is this related to revenue scale, and what is the mix in the cost of material? A: The cost includes labor subcontractor charges, construction expenses, and material. When totaled, it is about 65% to 66%, consistent with the last four quarters. Q: Can you maintain an 18% plus margin in Q4 and FY26? A: We have guided 18% and maintained it over 9 months. It will be maintained over 12 months as well. EBIT has improved by 200 basis points over the last 12 months, and we expect this to continue. Q: What is the expected contribution from CIDCO and MHADA for FY26? A: For CIDCO, we expect to bill at least INR85 crores per month. For MHADA, we target billing about INR1,200 crores at the LLP level, with INR400 crores at the Capacit'e level. Q: Are there any payment delays from CIDCO or MHADA given the Maharashtra state government finances? A: CIDCO and MHADA have their own sources of funds, so there are no delays. We have seen delays in PWD, but payments have been received recently. We do not foresee issues with CIDCO or MHADA. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
