Latest news with #INR15
Indian Express
30-04-2025
- Business
- Indian Express
Coldplay concert created ‘economic impact' worth Rs 641 crore: Report
A report by global strategy consultant EY-Parthenon on the two-day concert by British rock band Coldplay has claimed that it created an 'economic impact' of Rs 641 crore across industries — of which Rs 392 crore was 'injected into Ahmedabad's local economy through spending on accommodation, restaurants, local transportation and shopping'. The report titled 'India's Rising Concert Economy', made public Wednesday, finds that hotel room tariffs rose by three to six times 'within just two days of the announcement of the shows', while airline fares went up by '3-4 times'. Coldplay performed in Ahmedabad 's Narendra Modi Stadium on January 25 and 26. The shows saw a record audience footfall of 2,22,000. According to the report, 86% of the attendees were from outside of Ahmedabad, from across 28 states and Union Territories. The report, which analysed inputs of a survey conducted by BookMyShow, an online ticket booking platform, stated that 47% of the 2,821 attendees stayed in Ahmedabad 'spending an average of Rs 12,401'. As per the findings, 50% of them spent more than one night in the city, while 23% spent more than Rs 15,000 on their stay. As per the report, almost while 40% stayed in hotels, almost as many stayed with 'friends or relatives' (39%), while 14% claimed they 'didn't stay anywhere'. According to the report, the GST earned from those two days amounted to Rs 72 crore. 'Rooms that typically cost around INR15,000 even during peak season soared to INR50,000- 90,000 within just two days of the announcement of the shows at Ahmedabad. Several upscale hotels charged as much as INR1.60 lakh for a two-night stay, a rate hike that surpassed even New Year's Eve prices in some cases,' the report claimed, citing media reports. The report, commissioned by BookMyShow, claimed that it was developed 'based on primary and secondary research, discussions with various companies and stakeholders, and cross-referencing of available data points'. As per the report, airline fares from key cities to Ahmedabad, including short-haul destinations, 'experienced substantial hikes with one-way tickets being charged 3-4 times higher than the regular fare'. The also report claimed that the concert in Ahmedabad 'boosted local commerce, with 38% of attendees engaging in local shopping, spending an average of INR2,253 per person. Notably, 71% of these shoppers were under 28 years old, highlighting how the concert introduced local artisans, handicrafts and culture to a younger, wider audience'. Also, 15,000 were deployed for concert operations that included 4,500 police personnel, 400 student volunteers and 200 staff from various government and local authorities, the report showed. Among the Gujarat government arms, which assisted in the organisation of the concert were the Ahmedabad Municipal Corporation, Gujarat Gas Ltd, the gas distribution company with Chief Secretary Pankaj Joshi as its chairman, and Gujarat Metro Rail Corporation Ltd, the report added.
Express Tribune
08-04-2025
- Entertainment
- Express Tribune
Meet India's most expensive actress — and it's not who you think
Listen to article Priyanka Chopra has emerged as the highest-paid actress in Indian cinema, charging INR30 crore for her role in director S.S. Rajamouli's upcoming film SSMB29, alongside Telugu superstar Mahesh Babu. The Bollywood-turned-global star also reportedly earned INR41 crore for Amazon Prime Video's international spy thriller series Citadel. With her rising influence in both Hollywood and Indian cinema, Chopra has now outpaced leading actresses Deepika Padukone, Alia Bhatt, and Nayanthara in terms of pay. Chopra, who resides in Los Angeles, was last seen in an Indian production four years ago, in The White Tiger opposite Rajkummar Rao. Her return to Indian cinema with SSMB29 marks a major comeback. The actress became a mother in January 2022 through surrogacy, welcoming daughter Malti. Previously, Deepika Padukone held the title of highest-paid Indian actress after charging INR20 crore for Kalki 2898 AD, which released just before the birth of her daughter Dua in November 2024. She had earlier earned INR15 crore for Pathaan. Alia Bhatt, who gave birth to daughter Rhea in November 2022, earned INR15 crore for her recent films. Rocky Aur Rani Ki Prem Kahani performed well at the box office, while her film Jigra, which she also produced, failed to make a mark. Meanwhile, Nayanthara, who became the mother of twins via surrogacy in 2022, has been commanding high fees as well. She earned INR12 crore for Jawan and INR11 crore for Annapoorni, cementing her status as a pan-India star. Despite the strong competition, Priyanka Chopra's crossover appeal and global stature appear to have set a new benchmark in remuneration for actresses in Indian cinema.
Yahoo
15-02-2025
- Business
- Yahoo
Nirlon Ltd (BOM:500307) Q3 2025 Earnings Call Highlights: Strong Growth Amidst Future Challenges
Total Income (Q3 2025): INR164 crores, 7% year-on-year growth. EBITDA (Q3 2025): INR133 crores, 10% year-on-year growth. EBITDA Margin (Q3 2025): 81.39%. Profit After Tax (Q3 2025): INR58 crores, 12% year-on-year growth. Profit After Tax Margin (Q3 2025): 35.57%. Total Income (9 months FY 2025): INR484 crores, 7% year-on-year growth. EBITDA (9 months FY 2025): INR386 crores, 8% year-on-year growth. EBITDA Margin (9 months FY 2025): 79.74%. Profit After Tax (9 months FY 2025): INR165 crores, 7% year-on-year growth. Profit After Tax Margin (9 months FY 2025): 33.99%. Average Occupancy Rate: 99.5% for NKP and Nirlon House combined. Interim Dividend: INR15 per share for FY 2024-2025. Warning! GuruFocus has detected 3 Warning Sign with STU:HUKI. Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nirlon Ltd (BOM:500307) reported a total income of INR164 crores for Q3, marking a 7% year-on-year growth. EBITDA for the quarter was INR133 crores, representing a 10% increase year-on-year, with strong EBITDA margins of 81.39%. Profit after tax for Q3 stood at approximately INR58 crores, a 12% growth year-on-year, with profit margins at 35.57%. The average occupancy rate for the company was high at 99.5%, indicating strong demand for their properties. The board approved an interim dividend of INR15 per share for the fiscal year 2024-2025, reflecting confidence in the company's financial health. Morgan Stanley has given notices to vacate approximately 449,000 square feet of space, which could impact future occupancy rates. The company will fully utilize its accumulated MAT credit by March 2025, potentially leading to higher tax expenses in the future. There is uncertainty regarding the transition to a new tax regime, which the company is still analyzing. Despite a strong pipeline, there is a risk associated with re-licensing the vacated space by Morgan Stanley, which may not be completed by Q1 2026. The company has not provided significant updates on the progress of Nirlon House, leaving some investors seeking more information. Q: For the first 9 months, Nirlon Ltd paid approximately INR45 crores in tax on a PBT of INR254 crores, which is about 17.5%. Could you provide the figure for the balance accumulated MAT credit as of December 31, which will be used for Q4? A: The MAT credit available to the company will be fully utilized by March 2025. Approximately INR20 to INR23 crores is expected to be utilized this year, and once exhausted, there will be no tax advantage left at the end of this fiscal year. - Kunal V Sagar, Director Q: Morgan Stanley has given notice to vacate 449,000 square feet. Since re-licensing has commenced, what is the average rental rate per square foot for the re-licensed area? Also, considering the high demand for Grade A commercial spaces, would it be better to wait for higher rental rates? A: The re-licensed spaces are showing a positive trend with rates between INR160 to INR180 per square foot. We prefer to license as soon as possible at the best possible rate rather than speculate on future increases. - Unidentified Participant 1 Q: Is there any progress on Nirlon House? A: There is nothing significant to report at this time. We will update if there are any developments. - Kunal V Sagar, Director Q: With the MAT credit being exhausted this year, will Nirlon Ltd switch to a new tax regime next year? A: The company is analyzing this in detail and will make a decision in the next month or two. - Kunal V Sagar, Director Q: Has there been any acceleration in the process towards a REIT structure following changes in interest rates? A: We are analyzing various restructuring options, including REITs, but there is no specific update from the last discussion. We continue to evaluate the most beneficial structure for the company. - Kunal V Sagar, Director Q: Of the 449,000 square feet vacated by Morgan Stanley, how confident are you about re-licensing the remaining space by Q1 2026? A: The pipeline for the remaining space is strong and positive. We aim to finalize re-licensing on the best commercial terms in the next few months. - Kunal V Sagar, Director Q: When will the decision on the tax regime be finalized? A: The decision for FY 2025 will be made by the time of filing returns in September 2025, and for FY 2026 by September 2026. For FY 2025, we remain in the old tax regime. - Kunal V Sagar, Director 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
