Latest news with #EFC
Time of India
5 hours ago
- Business
- Time of India
EFC (I)'s net profit grows 71.72% in Q4 FY25
NEW DELHI: EFC (I) , a company offering managed office spaces, interior designing and furniture manufacturing, has reported a growth of 71.72 per cent in its net consolidated profit during the quarter ended March 31, 2025. Its profit after tax stood at ₹47.96 crore in Q4 FY25 as against ₹27.93 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹216.39 crore in Q4 FY25, a growth of 118.33 per cent from ₹99.11 crore it recorded in the similar quarter last year. Umesh Sahay , chairman & managing director of the company said, "FY25 was a year of significant milestones for the company. During the year, we closed the strategic acquisition of Bigbox Ventures, a managed workspace company in Pune. We also acquired properties in some of the prime locations as part of our long-term business strategies." Its revenue from rental segment stood at ₹119.92 crore, up 71.4% year-on-year while profit before tax (PBT) was ₹63.38 crore in Q4 FY25. Interior segment's revenue ₹83.51 crore while PBT was 13.83 crore in Q4 FY25. In February 2025, the company allotted 4,97,76,688 equity shares of Rs. 2 each as fully paid-up bonus shares in the 1:1 ratio. In May 2025, it received a 'no objection' from BSE for the merger of Whitehills Interior with EFC. In FY25, the company purchased a 49,556 sq ft commercial office space building with a capacity over 1,500 seats and bought two floors admeasuring 26,500 sq ft of commercial office space in Pune with a capacity of over 600 seats. In December 2024, it had applied to demerge EFC's properties into separate entities focused on managed, coworking, or leasing services. In July 2024, it announced the acquisition of 51% stake in Bigbox Ventures for approximately ₹5.1 crore.
Time of India
3 days ago
- Business
- Time of India
SC upholds tribunal order in Adani case, nixes discoms' plea
Jaipur: The Supreme Court on Friday dismissed an appeal filed by Rajasthan's power distribution companies against an order of the Appellate Tribunal for Electricity (APTEL) that ruled in favour of Adani Power Rajasthan Ltd (APRL) for levying a charge of Rs 50 per tonne of coal. Tired of too many ads? go ad free now The case is related to a Dec 2017 notification issued by Coal India Ltd, imposing a charge of Rs 50 per tonne as evacuation facility charges (EFC). Adani Power, which signed a PPA with the state's discoms in 2010 for the supply of 1200 MW of power, claimed that the levy constituted a "change in law" under Article 10 of the PPA. A bench comprising Justices M M Sundresh and Rajesh Bindal held that there was no merit in the plea of Jaipur Vidyut Vitran Nigam Ltd (JVVNL) and Rajasthan discoms. It upheld the APTEL's finding that a levy introduced by Coal India Ltd constituted a "change in law" entitling Adani to compensation under its Power Purchase Agreement (PPA). After the CIL notification, Adani Power notified the discoms of the change in law event, seeking compensation. When state discoms failed to respond, Adani approached the Rajasthan Electricity Regulatory Commission (RERC), which partially allowed its claims. Both parties subsequently approached APTEL, which in April 2024 ruled in favour of Adani Power. In the order, Justice Sundresh said the statutory levy by a govt entity like CIL qualified as a change in law, triggering the restitution principle enshrined in the PPA. The verdict said that compensation must be provided to restore the power generator to the same economic position it would have occupied but for the change in law. "We find no merit in this appeal. The appeal stands dismissed accordingly," it held.
IOL News
4 days ago
- Business
- IOL News
Small black-owned furniture businesses urged to apply to take part in 2025 SME Accelerator
Black-owned SMEs in areas such as bedding, crockery, lighting, carved wooden items, upholstery, and bespoke artwork printing are encouraged to apply to take part in the eThekwini Furniture Cluster (EFC) SME Accelerator. Image: Pexels Black-owned small businesses in the furniture and homeware sector have been urged to apply to take part in the 2025 eThekwini Furniture Cluster (EFC) SME Accelerator as they may get the chance to pitch their products directly to decision-makers from big retailers. The EFC SME Accelerator is supported by the eThekwini Municipality's Economic Development Programme & Planning Unit. Four of the country's major retailers and manufacturers, Mr Price Home, Homewood, Pepkor Lifestyle and Poetry of Living are participating in this year's programme. Titus Mazibuko, eThekwini's Economic Development programme manager for furniture said as a key contributor to employment and GDP growth, the furniture industry in KwaZulu-Natal plays a vital role in the regional economy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'Initiatives like the EFC SME Accelerator highlight the impact effective collaboration between government and the private sector can have in helping the industry to grow,' Mazibuko added. Mazibuko said connecting high-potential small businesses with opportunities that can elevate them to national and even global markets lies in the long-term growth it enables not just for individual entrepreneurs, but for the broader communities and industries they support. Selected SMEs will get a rare chance to pitch their products directly to decision-makers from the four participating furniture and homeware retailers and manufacturers and will also benefit from coaching, business support, and the opportunity to win cash prizes. Since 2021, the programme has seen 14 SMEs pitching to major retailers, 15 commercial opportunities unlocked, and one SME securing expansion funding through the Industrial Development Corporation (IDC). Participants have also benefited from coaching, diagnostic assessments, and industry support.
Yahoo
23-05-2025
- Business
- Yahoo
Otego to get $3.9 million for water projects
The village of Otego is among municipalities getting state funding for water projects. Gov. Kathy Hochul announced Thursday, May 22 that the Environmental Facilities Corporation Board of Directors approved more than $37 million in financial assistance for water infrastructure improvement projects across the state. "The board's approval authorizes municipal access to low-cost financing and previously announced grants to get shovels in the ground for critical water and sewer infrastructure projects, from treatment processes to remove emerging contaminants from drinking water, to replacing lead service lines and modernizing aging systems," a news release from Hochul's office said. 'This is how you lead: invest boldly, move fast and protect your people,' Hochul said. 'This $37 million investment jumpstarts critical projects to fix aging pipes, tackle emerging contaminants and upgrade infrastructure, all while keeping costs down for communities and creating good-paying local jobs.' Otego will get $3.9 million in grants for the installation of a redundant production well, replacement of asbestos-lined pipe and exposed water main, relocation of a well house treatment building to a higher elevation, replacement of a booster pump station, and the installation of a tank mixer, according to the release. EFC's board approved grants and financing to local governments from the Clean Water and Drinking Water State Revolving Funds — a mix of federal and state dollars dedicated to financing community water infrastructure projects. State Revolving Fund interest rates are below market rate, and with long repayment periods, and communities may save significantly on debt service compared to traditional financing, the release stated. State Health Commissioner Dr. James McDonald said, 'This latest round of funding means critical infrastructure projects will be affordable to municipalities looking to protect their communities without breaking the bank. Through our Bureau of Water Supply Protection, the Department of Health will continue to work with our state and local partners to protect the health and safety of New Yorkers by providing technical assistance and monitoring for emerging contaminants, lead and other chemicals.'
Al-Ahram Weekly
20-05-2025
- Entertainment
- Al-Ahram Weekly
Egypt wins Best Pavilion Design at Cannes Film Festival - Screens - Arts & Culture
Egypt has taken home the Best Pavilion Design Award at this year's Cannes Film Market (Marché du Film), edging out 18 other national pavilions in the festival's International Village. The award, now in its fourth year, recognizes the most outstanding pavilion in terms of creativity, design, programming, and visitor engagement. This year's jury praised the Egyptian pavilion for its 'historical presence and the thoughtful integration of a small movie theatre into the design to share the story of Egyptian cinema.' The 2025 jury included Yi Chou, a Cannes Makers alumni, Brazilian film critic Elaine Guerini, and Leticia Godinho, deputy director of business at Series Mania. Jointly organized by the Cairo International Film Festival, El Gouna Film Festival and the Egyptian Film Commission (EFC), the pavilion was designed by Sherine Farghal, an Egyptian art director known for fusing traditional set design with modern virtual techniques. Farghal transformed the space into a small cinema, where visitors could watch a curated reel tracing the legacy of Egyptian cinema. On either side of the screen, mirrored walls reflected moving images to create an immersive experience. The video included scenes from iconic Egyptian films such as Youssef Chahine's Bab Al-Hadid and Al-Mohager, Radwan El-Kashef's A'raq Al-Balah, Shady Abdelsalam's Al-Mummia, Kamal El-Sheikh's Gharam Fi Al-Karnak and Hayah Aw Mout, and Henry Barakat's Chattei' Al-Gharam. The reel was adapted from a larger installation titled Egyptian Cities Embracing Cinema, first presented at the 7th edition of the El Gouna Film Festival in October 2024. Conceived by Marina Ibrahim and also designed by Farghal, the project highlighted the role of Egyptian cities not merely as backdrops but as living, breathing characters in the country's cinematic history. 'We wanted the world to see Egypt through the eyes of great filmmakers – where rich heritage meets pulsating modernity full of creativity,' Farghal said. Egypt's pavilion was selected from among entries representing a broad mix of countries and institutions, including Morocco, Tunisia, China, Palestine, Jordan, Iraq, Saudi Arabia, the Czech and Slovak Republics, Ireland, Greece, Germany, Canada (Telefilm), the UK, Ukraine, Latvia, Estonia, Israel and L'Institut Français. The pavilions of Iraq, Estonia, and the UK were particularly praised for their distinct designs and welcoming presence. Throughout the festival, the Egyptian pavilion hosted a series of events, including panels, presentations, and workshops to promote the country as a hub for international film production and boost cinematic partnerships. Follow us on: Facebook Instagram Whatsapp Short link:
