Latest news with #ChetanShah
Business Standard
5 days ago
- Business
- Business Standard
Q1 FY26 - Delivers 63% YoY PAT Growth; Strengthens Balance Sheet with ₹900 Cr QIP
PRNewswire Mumbai (Maharashtra) [India], August 14: Marathon Nextgen Realty Ltd., a leading Mumbai-based real estate developer with a legacy of over five decades, reported a strong start to FY26, posting a 63% year-on-year increase in Profit After Tax (PAT) to approximately ₹62 crore for the quarter ended June 30, 2025. The company's Q1 revenue stood at ₹191 crore, while EBITDA rose 27% YoY to ₹81 crore. Profit before tax (PBT) grew 55% to ₹68 crore. "The performance reflects Marathon's sharp operational focus and disciplined cost management across its portfolio," said Chetan Shah, Chairman and Managing Director of Marathon Nextgen Realty Ltd. Strategic Capital Raise Accelerates Growth The quarter also marked a major milestone with the successful completion of a ₹900 crore Qualified Institutional Placement (QIP), attracting robust participation from leading domestic and international institutional investors. As of July 2025, ₹340 crore of the proceeds has been utilised for debt repayment, bringing the company to a net cash positive position for the first time. ₹160 crore is being channelled toward accelerating construction across ongoing projects, while ₹300 crore has been earmarked for new asset-light development opportunities. "We're extremely proud of our performance this quarter--not just the strong financials, but the strategic strides we've made," said Chetan Shah, Chairman and Managing Director of Marathon Nextgen Realty Ltd. "The enthusiastic response to our QIP reflects growing investor confidence in our vision. On behalf of the entire Marathon team, I extend a warm welcome to our new shareholders and look forward to their continued trust as we reach new milestones and create sustainable, long-term value for all stakeholders. With a robust land bank, a reputation for timely delivery, and deep-rooted expertise in Mumbai real estate, we're well-placed for the next phase of growth." Note: Data based on Carpet Area/ *Based on 40% revenue share for Monte South project Net Debt * Achieved zero net debt post-QIP, now maintaining net cash positive position A Strong Pipeline Backed by Strategic Land Bank With active projects across Lower Parel, Byculla, Mulund and a pipeline supported by strategic land banks in Bhandup, Dombivli, and Panvel, Marathon seeks to continue to build on its promise of delivering long-term value to homebuyers and investors alike. About Marathon NextGen Realty Ltd. For over 56 years now, Marathon Group has been helping shape Mumbai's skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three head of project -Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring years of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales and prides itself on its transparency, customer-centricity and is among one of the most trusted Developers. The Group has ongoing projects at Lower Parel, Byculla, Mulund, and land banks at Bhandup, Thane, Dombivli and Panvel.
Mint
06-08-2025
- Business
- Mint
Google Pay user sends ₹40,000 by mistake, asks for refund: Here's what happens next
A Google Pay user claimed to have transferred ₹ 40,000 mistakenly to an account and asked for refund soon after. A Redditor's post documenting this incident has sparked discussions online in which he says that the money was credited in his wife's account. The caption to the Reddit post states, 'Amount received in account via Gpay.' The post ignited debates online regarding the authenticity of the GPay user. Emphasising that he refused to comply with the request, the Reddit user named Chetan Shah said, 'Yday afternoon some person sent 40k (by mistake I guess) to my wife's account via Gpay. Later he calls at night and asks to send back the amount. I refused.' He further noted that he asked the GPay user to approach the bank to reverse the transaction. Seeking suggestion and advice from social media user online, he stated, 'told him to approach his bank for reversal of transaction. Did I do the right thing ? I also notified my bank that some person has sent this amount to account.' In the comment thread we come to know that the GPay user had requested the bank to block the amount. Chetan Shah added, "I had requested my bank to block the amount . And I suspect the sender has also put a block for the same amount . it's a dead account and there is just 1k in that account…. The sender may ask the amount to unblock." A user wrote, 'Yes. This is the only way. You will probably get a request from bank for approving the reversal or it will happen automatically because you've already informed your bank. Don't touch that money, and you should be fine.' Another comment read, 'Did you check your bank transaction? Sometimes they send a fake credit message to the number.' A third user replied, 'Yes you have done the right thing, if you have sent the money back then he will raise a chargeback from his bank and freeze in her account till the money is paid again.' A fourth user replied, 'Never send the money back, it's best that they file a chargeback.' A fifth user stated, 'UPI is now becoming very shady and everyone exploiting loopholes.' A sixth user narrated how the scam happens, 'The common scam is, A sends money to B. A asks B to send back money to a different account. B sends money back to said account. A proceeds to reverse the transaction via Bank. B gets sad and angry.'
Mint
06-08-2025
- Business
- Mint
Google Pay user sends ₹40,000 by mistake, asks for refund: Here's what happens next
A Google Pay user claimed to have transferred ₹ 40,000 mistakenly to an account and asked for refund soon after. A Redditor's post documenting this incident has sparked discussions online in which he says that the money was credited in his wife's account. The caption to the Reddit post states, 'Amount received in account via Gpay.' The post ignited debates online regarding the authenticity of the GPay user. Emphasising that he refused to comply with the request, the Reddit user named Chetan Shah said, 'Yday afternoon some person sent 40k (by mistake I guess) to my wife's account via Gpay. Later he calls at night and asks to send back the amount. I refused.' He further noted that he asked the GPay user to approach the bank to reverse the transaction. Seeking suggestion and advice from social media user online, he stated, 'told him to approach his bank for reversal of transaction. Did I do the right thing ? I also notified my bank that some person has sent this amount to account.' In the comment thread we come to know that the GPay user had requested the bank to block the amount. Chetan Shah added, "I had requested my bank to block the amount . And I suspect the sender has also put a block for the same amount . it's a dead account and there is just 1k in that account…. The sender may ask the amount to unblock." A user wrote, 'Yes. This is the only way. You will probably get a request from bank for approving the reversal or it will happen automatically because you've already informed your bank. Don't touch that money, and you should be fine.' Another comment read, 'Did you check your bank transaction? Sometimes they send a fake credit message to the number.' A third user replied, 'Yes you have done the right thing, if you have sent the money back then he will raise a chargeback from his bank and freeze in her account till the money is paid again.' A fourth user replied, 'Never send the money back, it's best that they file a chargeback.' A fifth user stated, 'UPI is now becoming very shady and everyone exploiting loopholes.' A sixth user narrated how the scam happens, 'The common scam is, A sends money to B. A asks B to send back money to a different account. B sends money back to said account. A proceeds to reverse the transaction via Bank. B gets sad and angry.' A seventh user said, 'Transfer all money out except for 40K ... Another fraud is they will complain that I have scammed them and bank will block your account.... Then the guy will ask you for money to unblock the ac and retract the complaint.'
Business Wire
23-07-2025
- Health
- Business Wire
Hyperfine Begins Commercial Launch of Optive AI™ Software, Bringing Substantially Improved Image Quality to the Installed Base of Swoop® Systems
GUILFORD, Conn.--(BUSINESS WIRE)-- Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking health technology company that has redefined brain imaging with the first FDA-cleared AI-powered portable MRI system for the brain—the Swoop® system—today announced the commercial launch of the Optive AI™ software for existing Swoop® system customers. Optive AI™ software, which also powers the transformative image quality of the next-generation Swoop® system, is now commercially available to customers in the U.S. With over 650 scans under our belt on the previous software, with just a single scan in critical care today after installing Optive AI™ software on the Swoop® system, the difference is crystal clear. Share Optive AI™ software enhances each stage of the imaging process—from noise cancellation and image acquisition to reconstruction and post-processing. The result is brain images with greater clarity, uniformity, and sharper anatomical detail. The FDA cleared Optive AI™ software in late May 2025, and the software is also available for commercial use in Canada, Australia, and New Zealand, with additional international approvals expected later this year. Hyperfine has now begun rolling out the new software to hospitals and outpatient neurology offices in the U.S. with plans to bring this imaging software to all current customers in the coming weeks. Jennifer Villa Frabizzio, MD, Chief of Neuroradiology, Jefferson Abington Hospital, noted, 'With over 650 scans under our belt on the previous software, with just a single scan in critical care today after installing Optive AI™ software on the Swoop® system, the difference is crystal clear. FLAIR images, especially, show markedly improved resolution and are 40 seconds faster. Kudos to Hyperfine engineers for this large leap.' Chetan Shah, MD, Chair, Pediatric Radiology, Wolfson Children's Hospital, noted, 'This upgrade is a true game changer for MRI technology—an overnight leap in image quality that's rarely seen. Portable MRI can now extend beyond the ICU to serve ER patients and outpatients—a breakthrough in every sense.' Optive AI™ software is fully compatible with first-generation Swoop® systems and requires no hardware modifications, enabling current users to immediately benefit from next-generation image quality. The new software supports a wide range of patient populations, as well as various clinical use cases in emergency, intensive care, and neurology office settings. 'We're thrilled to bring the power of Optive AI™ software to our current customers,' said Maria Sainz, President and CEO of Hyperfine. 'This is more than a software update—it's a milestone that reflects our commitment to sustained innovation, improved clinical performance, and driving the adoption of portable brain MRI across multiple sites of care. We are incredibly pleased with the feedback from the initial cases of patients scanned with the Optive AI™ software and look forward to broadening clinical utility with this high level of image quality for patients in different care settings inside and outside of the hospital.' For more information about the Swoop® system and Optive AI™ software, please visit About the Swoop® Portable MRI Systems The Swoop® Portable MR Imaging® Systems are U.S. Food and Drug Administration (FDA) cleared for brain imaging of patients of all ages. They are portable, ultra-low-field magnetic resonance imaging devices for producing images that display the internal structure of the head where full diagnostic examination is not clinically practical. When interpreted by a trained physician, these images provide information that can be useful in determining a diagnosis. About Hyperfine, Inc. Hyperfine, Inc. (Nasdaq: HYPR) is the groundbreaking health technology company that has redefined brain imaging with the Swoop® system—the first FDA-cleared, portable, ultra-low-field, magnetic resonance brain imaging system capable of providing imaging at multiple points of professional care. The mission of Hyperfine, Inc. is to revolutionize patient care globally through transformational, accessible, clinically relevant diagnostic imaging. Founded by Dr. Jonathan Rothberg in a technology-based incubator called 4Catalyzer, Hyperfine, Inc. scientists, engineers, and physicists developed the Swoop® system out of a passion for redefining brain imaging methodology and how clinicians can apply accessible diagnostic imaging to patient care. For more information, visit The Hyperfine logo, Swoop, and Portable MR Imaging are registered trademarks of Hyperfine, Inc. The Swoop logo, Optive AI logo, and Optive AI are trademarks of Hyperfine, Inc. Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Actual results of Hyperfine, Inc. (the 'Company') may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's goals and commercial plans, the benefits of the Company's products and services, and the Company's future performance and its ability to implement its strategy. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the success, cost and timing of the Company's product development and commercialization activities, including the degree that the Swoop® system is accepted and used by healthcare professionals; the impact of COVID-19 on the Company's business; the inability to maintain the listing of the Company's Class A common stock on the Nasdaq; the Company's inability to grow and manage growth profitably and retain its key employees; changes in applicable laws or regulations; the inability of the Company to raise financing in the future; the inability of the Company to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any cleared or approved product; the inability of the Company to identify, in-license or acquire additional technology; the inability of the Company to maintain its existing or future license, manufacturing, supply and distribution agreements and to obtain adequate supply of its products; the inability of the Company to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently marketing or developing; the size and growth potential of the markets for the Company's products and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of the Company's products and services and reimbursement for medical procedures conducted using the Company's products and services; the Company's estimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company's financial performance; and other risks and uncertainties indicated from time to time in Company's filings with the Securities and Exchange Commission, including those under 'Risk Factors' therein. The Company cautions readers that the foregoing list of factors is not exclusive and that readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
News18
22-07-2025
- Business
- News18
Solex Energy revenues grow 84 pc to Rs 260 cr in Q1
Agency: PTI Last Updated: New Delhi, Jul 22 (PTI) Solar PV modules maker and EPC services provider Solex Energy on Tuesday said its revenue rose by 84 per cent to Rs 260 crore in the April-June quarter of 2025-26 compared to the year-ago period. The company, listed on the SME platform of NSE, had revenue of Rs 141 crore in the same quarter of the previous year, it said in an exchange filing. 'Solex Energy has reported a robust start to FY26, achieving Rs 260 crore in consolidated revenue from operations in Q1 an impressive 84 per cent year-on-year growth," the filing said. The company's CMD Chetan Shah said, 'Achieving Rs 260 crore revenues in Q1 is a financial milestone. Solex remains focused on expanding its product portfolio, enhancing automation and efficiency across its manufacturing lines, and investing in next-generation module technology and integrated renewable energy solutions." Gujarat-based Solex Energy is looking to increase its module manufacturing capacity from 1.5 GW to 15 GW, which will cost around Rs 8,000 crore. PTI ABI ABI MR Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
