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Business Standard
a day ago
- Business
- Business Standard
Aditya Birla Fashion slips 9%, hits 52-week low after block deal on NSE
Aditya Birla Fashion and Retail share price today Aditya Birla Fashion block deal: Aditya Birla Fashion and Retail (ABFRL) shares hit a 52-week low of ₹78.25 today, falling 9 per cent on the National Stock Exchange (NSE) in Wednesday's intraday trade, after a huge block deal was executed on the counter. Till 09:19 AM, 163.98 million equity shares, representing 13.44 per cent of the total equity of ABFRL, had together changed hands on the NSE (132.9 million shares) and BSE (31.08 million shares), exchange data shows. The names of the buyers and sellers, however, could not be ascertained immediately. At the time of writing this report, the stock was quoting 8 per cent lower at ₹79.19 on the NSE. Flipkart likely seller in ABFRL block deal According to reports, Walmart-owned Flipkart investments was considering selling its entire 6 per cent equity stake in ABFRL via secondary equity sale. Flipkart, reports said, was planning to sell around 73 million shares via bulk sale at ₹79.5 per share, which was a 7.6-per cent discount to the stock's closing share price of ₹86 per share on Tuesday. As on March 31, 2025, Flipkart Investments Private Limited held 73.17 million shares or 6 per cent stake in ABFRL, the shareholding pattern data shows. ABFRL Demerger On May 22, 2025, ABFRL turned ex-date for its demerger with Aditya Birla Lifestyle Brands (ABLBL). Shareholders of ABFRL were allotted shares of ABLBL in a 1:1 ratio. This implies that for every one ABFRL share held by shareholders, they received one share of ABLBL. ABLBL is expected to list by the end of June 2025. The demerger follows a strategic decision where fashion player ABFRL demerged its business into two entities in a bid to have stronger growth trajectories in their carved-out markets. The new entity ABLBL now holds some of India's best-known brands in its kitty. Lifestyle brands – Louis Philippe, Van Heusen, Peter England, Allen Solly, Simon Carter; Sportswear – Reebok Van Heusen innerwear and Youth western wear – American Eagle. The post-demerger entity of ABFRL has a powerful vision for meeting India's need for smart and trendy apparel. It covers a wide selection of options, ranging all the way from mass appeal and digital-first brands to luxury clothing brands, luxury offerings and designer couture. ALSO READ | YES Bank rises 2% as board okays fundraise of up to ₹16,000 crore; details ABFRL Growth Outlook With a leading presence across multiple high-growth platforms, the demerged ABFRL is well placed to emerge as a strong diversified player in the sector. With over ₹ 2,350 crore of gross cash at consolidated level following the recent capital raise, the company is all set to pursue aggressive growth to triple in scale and double in profitability over the next 5 years. With a diverse portfolio of strong brands and access to free cash flow post demerger, the business is poised to pursue an aggressive growth trajectory going forward for ABLBL. It is expected to double in scale with improved profitability over the next five years, emerging as the largest branded fashion play in the country. About Aditya Birla Fashion and Retail Aditya Birla Fashion and Retail Limited (ABFRL), part of the Aditya Birla Group, is India's leading fashion powerhouse, offering a distinguished portfolio of renowned brands and retail formats, catering to multiple high-growth segments. As of March 31, 2025, the company has presence across 1,167 stores, spanning 7.3 million square feet retail space. ABFRL's portfolio includes Pantaloons, one of India's most loved fashion destinations, and Style Up, a growing value retail format. The company also operates The Collective, who commands a dominant position as one of the country's most influential multi-brand luxury retailers, with exclusive long-term tie-ups with global fashion brands including Ralph Lauren, Hackett London, Ted Baker and Fred Perry. ABFRL has also partnered with Paris based Galeries Lafayette to introduce a high-end luxury destination in India. ABFRL is a market leader in branded ethnic wear, its portfolio includes Jaypore, Tasva and TCNS brands and it has forged strategic partnerships with India's top designers such as Shantnu & Nikhil, Tarun Tahiliani, Sabyasachi, and House of Masaba. Recently, the Company further expanded its ethnic wear leadership with the integration of TCNS brands, home to leading women's brands W, Aurelia, Wishful, Elleven and Folksong
Irish Times
2 days ago
- Business
- Irish Times
Return to office boosts demand for older London buildings, says British Land
Demand for high-end London offices is starting to 'trickle down' to older buildings because of sky-high rents, fewer people working from home and a shortage of new properties, according to one of the capital's biggest landlords. British Land, which co-owns Broadgate in the City of London, said it had seen a significant uptick in demand for 'good second-hand space in core locations' and a sharp fall in the amount of available space. Since Covid-19, big office tenants have been narrowly focused on the best-quality space in new or freshly refurbished buildings, as they try to lure employees back to in-person work. But Simon Carter, British Land chief executive, said the market was now shifting because new space had become so expensive and there was little availability owing to a lack of construction since the pandemic. READ MORE 'There is definitely the trickle-down effect,' he said. 'The return to the office is much stronger than anyone anticipated. No one [has] built, so the rents are strong.' A year ago, hedge fund and market maker Citadel pre-leased a large office space in British Land's development at 2 Finsbury Avenue for about £100 per sq ft (€118.70), far ahead of the roughly £70 per sq ft rent similar buildings had commanded just a few years earlier. Rents for that top-quality space are now pushing £115-£120 per sq ft, with few buildings still on the market to occupy in the next several years – which is forcing businesses to look at other options. 'That demand is just going elsewhere,' said Mr Carter. Office vacancy levels fell slightly in London's central City and West End districts in the first quarter, according to data provider Costar. Brokers Cushman & Wakefield said the amount of second-hand space sitting on the market in the City had fallen by a fifth since 2023. Most businesses want to stay in core locations close to large train stations, but Mr Carter noted early signs of a move to office districts farther away from key transport links, such as British Land's development at Canada Water. He said he was beginning to see a trend that 'if [companies] want a new building and they are more price sensitive, they are looking at some of the emerging locations: Battersea, Stratford, the new buildings at Canary Wharf or Canada Water'. British Land recently reported an improvement in the value of its properties with its £9.5 billion portfolio of UK offices and retail parks increasing 1.5 per cent in the 12 months to March, according to independent assessments. The portfolio was boosted by higher rents after several years of valuation declines driven by rising interest rates. The company reported its rents rose 3 per cent on a like-for-like basis, with underlying profit – which strips out the impact of changes in property valuations – rising 4 per cent to £279 million. – Copyright The Financial Times Limited 2025
Daily Mail
22-05-2025
- Business
- Daily Mail
Return to office boosts fortunes at British Land amid fears WFM is stifling productivity and career progression
One of the country's biggest commercial landlords has hailed a bounce back in demand for offices as workers return to their desks. British Land said it has been boosted by the return-to-work mandates imposed by some of the UK's largest employers. Rents have been driven up by a lack of supply after office investment dwindled during the pandemic, the London-listed developer said. Firms are scaling back how much home-working they allow. It comes amid fears the shift has stifled productivity and career progression. HSBC this week warned staff that bonuses will be cut if they fail to come to the office. City auditor PwC has threatened to sack those who stay home too often. Corporate giants Amazon, BT and Asda have also ordered staff to spend more time at their desks. Back to the office: Employers are dramatically scaling back the amount of homeworking they allow amid fears that the shift has stifled productivity and career progression British Land chief executive Simon Carter said: 'Return to the office is in full swing with mid-week occupancy back to pre-pandemic levels.' Monday is 'increasingly catching up' with the occupancy levels seen on Tuesdays, Wednesdays and Thursdays, he said. And an 'acute lack of supply' has led to 'strong rental tension', pushing up prices and future profits, Carter said. Companies seeking central London workspace are considering older buildings and less desirable locations. Meanwhile, premium office blocks remain popular. Demand hit a record high in the year to the end of March. British Land revised up the valuation of offices in the City by 1.8 per cent and in the West End by 0.4 per cent in the second half of the year. This defied the 'outdated narrative that the office market is struggling', said Oli Creasey, head of property research at Quilter Cheviot. A British Land spokesman said: 'Many were convinced that work from home would be the norm [after Covid lockdowns]. We were not so sure. 'We became increasingly convinced that we could generate good returns by making a contrarian position.' The amount of office space rented in central London in the first three months of the year jumped to 2.1m sq ft – 29 per cent more than a year earlier. British Land said it expects rents to grow by between 3 per cent and 5 per cent this year. Profits rose 4 per cent to £279million in the year to the end of March and revenue jumped 13 per cent to £454million.
North Wales Chronicle
22-05-2025
- Business
- North Wales Chronicle
Midweek office work returns to pre-Covid levels, says major landlord
British Land said on Thursday that midweek occupancy across its office estate has returned to pre-Covid levels as its chief executive said the return to work is 'in full swing'. Remote working policies were introduced by most companies during Covid-19 lockdowns, with office employees the most affected by them. Recent official data showed that 28% of the UK workforce is in hybrid work, meaning spending some days at the office or at home. Meanwhile, 44% of people travel to work every day, while 13% of people are fully remote, according to an October survey by the Office for National Statistics. But the likes of Amazon, Goldman Sachs and JP Morgan have recently issued return-to-office mandates after half a decade of hybrid working sparked by pandemic-era lockdowns. Bosses claim face-to-face contact is important for collaboration and say having employees in the office means they do more work. British Land owns some of the newest and biggest blocks in the capital, including a new campus at Broadgate, near Liverpool Street station. It said there is now an 'acute lack' of high-end space left in the market, which has pushed up rents and 'will translate into higher earnings growth' across its estate. Chief executive Simon Carter said: 'The continued occupational strength of our key markets and the resulting above inflation rental growth gives us confidence for the future and in our strategy, despite ongoing macro volatility. 'Return to the office is in full swing, with midweek occupancy back to pre-pandemic levels,' he said.
South Wales Argus
22-05-2025
- Business
- South Wales Argus
Midweek office work returns to pre-Covid levels, says major landlord
British Land said on Thursday that midweek occupancy across its office estate has returned to pre-Covid levels as its chief executive said the return to work is 'in full swing'. Remote working policies were introduced by most companies during Covid-19 lockdowns, with office employees the most affected by them. Recent official data showed that 28% of the UK workforce is in hybrid work, meaning spending some days at the office or at home. Meanwhile, 44% of people travel to work every day, while 13% of people are fully remote, according to an October survey by the Office for National Statistics. But the likes of Amazon, Goldman Sachs and JP Morgan have recently issued return-to-office mandates after half a decade of hybrid working sparked by pandemic-era lockdowns. Bosses claim face-to-face contact is important for collaboration and say having employees in the office means they do more work. British Land owns some of the newest and biggest blocks in the capital, including a new campus at Broadgate, near Liverpool Street station. It said there is now an 'acute lack' of high-end space left in the market, which has pushed up rents and 'will translate into higher earnings growth' across its estate. Chief executive Simon Carter said: 'The continued occupational strength of our key markets and the resulting above inflation rental growth gives us confidence for the future and in our strategy, despite ongoing macro volatility. 'Return to the office is in full swing, with midweek occupancy back to pre-pandemic levels,' he said.
