Latest news with #OccupationCertificate
United News of India
31-05-2025
- Business
- United News of India
Swan Energy logs record Rs 6,884 crore income in FY25
Mumbai, May 30 (UNI) Swan Energy Limited has reported its highest-ever income and profitability for the financial year ended March 31, 2025, with consolidated income rising by 35 per cent to ₹6,884 crore and profit after tax (PAT) surging by 49 per cent to ₹874 crore. The company had posted an income of ₹5,100 crore and PAT of ₹586 crore in FY24. The diversified Indian conglomerate, with interests in textiles, real estate, oil and gas, shipbuilding and heavy fabrication, also saw its EBITDA rise sharply by 90 per cent to ₹1,804 crore in FY25, as against ₹951 crore in the previous fiscal. The EBITDA margin improved to 26.2 per cent from 18.6 per cent a year earlier. According to the company's regulatory filing, the improved financial performance was driven by significant debt reduction following a ₹3,320 crore Qualified Institutions Placement (QIP), successful commissioning of shipyard operations under Swan Defence and Heavy Industries (SDHI), and progress across its real estate and energy verticals. SDHI, formerly Reliance Naval and Engineering Ltd, resumed operations and delivered three refits ahead of schedule for the Indian Coast Guard. The company has also signed strategic MoUs with major shipbuilding players. In the real estate segment, the company's flagship residential project Cardinal One in Yeshwanthpur, Bengaluru received its Occupation Certificate, with over 90 per cent of the units sold. In the LNG business, subsidiary Triumph Offshore Pvt Ltd sold its Floating Storage and Regasification Unit (FSRU) 'Vasant-1' for around $399 million. The onshore LNG terminal at Jafrabad, Gujarat is nearing completion, with long-term regasification agreements secured with public sector undertakings including GSPC, BPCL, IOCL, and ONGC. Commenting on the results, Managing Director Mr Nikhil Merchant said the financial year marked a significant milestone in Swan Energy's journey. "Our highest ever revenue and profitability reflect the strength of our diversified business model and prudent financial management," he said. He added that the groundwork laid across verticals, including new energy and shipbuilding, has positioned the company well to capitalise on emerging opportunities. UNI BDN SSP
Time of India
30-04-2025
- Business
- Time of India
Mindspace Business Parks REIT leases 2.8 million sq ft in March quarter
Mindspace Business Parks REIT achieved record leasing, with 2.8 million sq ft leased in the last quarter and 7.61 million sq ft for the year. Net Operating Income rose by 13.2% to Rs 540 crore for the quarter. The company declared a distribution of Rs 392 crore for the quarter, driven by strong demand and rental growth, particularly in Hyderabad. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads K Raheja Corp-backed Mindspace Business Parks REIT has recorded the highest ever quarterly gross leasing of 2.8 million sq ft during the quarter ended March, taking cumulative leasing for the financial year 2024-25 to 7.61 million sq REIT has pre-leased an entire building under redevelopment at Mindspace Madhapur in Hyderabad with leasable area of 1.5 million sq ft to a large multinational company's Global Captive Center (GCC).The REIT has reported 13.2% on-year rise in Net Operating Income (NOI) during the quarter to Rs 540 crore, taking its 2024-25 NOI to Rs 2,062 crore. Revenue from operations for the quarter rose 14% to Rs 678 company has declared distribution of Rs 392 crore for the quarter ended March, taking the full year distribution to Rs 1,312 crore. Record date for the distribution is set as May 06.'With 3.6 million sq ft already pre-leased, demand for top-quality office space remains robust across our portfolio. Our NAV has grown by 10% driven by rising rentals across our micro markets, accretion from acquisitions and completion of pre-committed buildings. We remain optimistic about the long-term outlook for our portfolio,' said Ramesh Nair , CEO and MD, Mindspace REIT has witnessed robust growth in rentals across micro markets, especially Hyderabad's Madhapur. While in-place rent stood at Rs 71 per sq ft per month, Mark to Market (MTM) spread on rentals increased to around 13.4%, the REIT said in its earnings company has received Occupation Certificate (OC) for one of its buildings at Gera Commerzone Kharadi, Pune. This building is spread across 1 million sq ft, and is also entirely pre-leased to a large MNC's REIT is actively working on an under construction pipeline of around 3.7 million sq has completed the first right of first offer (ROFO) transaction by acquiring a 100% equity shareholding in Sustain Properties that houses 1.8 million sq ft at Commerzone Raidurg, Hyderabad. The company has also concluded acquisition of 0.26 million sq ft in Mindspace Madhapur, Hyderabad, consolidating ownership in the business park.
