Latest news with #PCCP
CBC
28-05-2025
- General
- CBC
Independent engineering report says city's response to water main rupture met professional standards
A report conducted by the Association of Professional Engineers and Geoscientists of Alberta, says pre-stressed concrete cylinder pipe, or PCCP, was to blame for the Bearspaw South Feeder Main failure.
Los Angeles Times
19-05-2025
- Business
- Los Angeles Times
Los Angeles Investment Firm PCCP Acquired 76-building Portfolio for $540 Million
PCCP LLC, a Los Angeles-based investment firm with $25.3 billion in assets under management, acquired a portfolio of 76 Bay Area apartment buildings across San Francisco and Oakland from Veritas Investments Inc. and Ivanhoe Cambridge Inc. for approximately $540 million, according to public records. The portfolio consists of 1,770 units and traded for approximately $305,000 per unit. Financing included $430 million of senior debt that was financed by German American Capital Corp. PCCP was founded in 1998 and handles equity investments, debt financing and advisory services for commercial real estate properties. The company has offices in four cities and more than 140 total employees. Information for this article was sourced from PCCP.
Business Upturn
14-05-2025
- Business
- Business Upturn
Indian Hume Pipe reports Rs 558 crore FY25 profit, announces special dividend on land sale
The Indian Hume Pipe Company Ltd (IHP) on Wednesday reported a net profit of ₹558.05 crore for the financial year ended March 31, 2025, sharply higher than ₹77.63 crore in the previous year. The profit includes a one-time exceptional gain of ₹545.22 crore from the sale of freehold land in Yelahanka, Bengaluru to Godrej SSPDL Green Acres LLP for ₹559 crore. As part of the proceeds utilisation, the company has recommended a special dividend of ₹4 per share, in addition to a regular dividend of ₹1.80 per share, taking the total proposed dividend to ₹5.80 per share (290%), subject to shareholder approval. Q4 earnings impacted by lower operating income For the fourth quarter (Q4FY25), IHP reported total income of ₹395.23 crore, slightly lower than ₹407.29 crore in the same quarter last year. EBITDA for the quarter stood at ₹59.10 crore, down from ₹77.07 crore a year ago. Net profit surged to ₹499.26 crore from ₹43.67 crore in Q4FY24, primarily due to the land transaction gain. Excluding the exceptional item, profit before tax for the quarter was ₹38.62 crore, compared to ₹58.06 crore in the corresponding period. Order book strength and manufacturing expansion The company received new orders worth ₹1,325.37 crore during FY25, with nearly 48% of the order value attributable to in-house manufacturing components like PCCP and BWSC pipes, leading to expectations of improved margins and reduced working capital needs. To meet growing demand, IHP expanded capacities at its Walwa and Dhule plants in Maharashtra, commissioning both by March 2025 at a combined capex of ₹46 crore, funded entirely through internal accruals. The enhanced annual capacity of 1,29,060 MT is expected to yield sales potential of ₹240 crore. As of May 8, 2025, the company's order backlog stood at ₹4,002.48 crore, up from ₹3,698.17 crore a year ago. IHP is also the L1 bidder in four projects worth ₹769.43 crore. Completion of large infrastructure projects IHP successfully completed 12 water infrastructure projects during the year across Uttar Pradesh, Rajasthan, Gujarat, Tamil Nadu, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh, with a combined contract value of ₹2,437.74 crore. Real estate ventures progress in Pune The company shared updates on two real estate joint ventures: Dosti Greenscapes (Hadapsar, Pune): 9 towers launched out of 13, covering over 8.4 lakh sq ft of usable carpet area; 1,025 units launched across four phases. Kalpataru Blossoms (Vadgaon, Pune): Three towers under development with 2.8 lakh sq ft of RERA carpet area and over 4.3 lakh sq ft of usable carpet area. As of May 8, 2025, 538 units had been booked in Dosti Greenscapes (₹416.85 crore value), and 92 units booked in Kalpataru Blossoms' Plot A (₹172.03 crore value), with IHP's share amounting to ₹158.40 crore and ₹55.91 crore, respectively. Capital allocation and future outlook From the Bengaluru land deal proceeds, ₹376 crore has been kept as fixed deposits with SBI for future capex and as collateral security, while ₹92 crore has been parked in money market mutual funds, partially earmarked for working capital reduction and the proposed special dividend payout of ₹21.07 crore.
