Latest news with #SreekanthReddy
Business Standard
22-07-2025
- Business
- Business Standard
Sagar Cements reports turnaround Q1 numbers
Sagar Cements reported a consolidated net profit of Rs 7.49 crore in Q1 FY26, compared with a net loss of Rs 32.20 crore posted in Q1 FY25. Revenue from operations increased 19.63% to Rs 670.66 crore in Q1 FY26 as against Rs 560.60 crore in Q1 FY25, supported by strong price hikes in the Southern market and various incentive schemes. The company reported a pre-tax profit of Rs 23.90 crore in Q1 FY26 as compared with a pre-tax loss of Rs 47.55 crore recorded in the corresponding quarter last year. Operating EBITDA surged 160.06% year-on-year to Rs 121.45 crore in Q1 FY26. EBITDA margin stood at 18% in Q1 FY26 as against 18% in Q1 FY25. During the quarter, sales volume jumped 11.26% to 1,427,639 million tonnes (MT) from 1,127,902 MT recorded in Q1 FY25. As of 30 June 2025, the company's net debt stood at Rs 1,374.24 crore. Sreekanth Reddy, the joint managing director of the company, said, We have started the year on a strong note, as can be seen from our financials. Volumes for the quarter grew by 11% on a Y-o-Y basis, driven by pickup in government spending, the construction sector, and the housing sector. In addition to higher volumes, the quarterly performance was also aided by a better pricing environment. The combination of which resulted in revenue growth of 20% (Y-o-Y) for the quarter. Our modernization plans at the Andhra Cements Dachepalli unit are progressing as per schedule. We are confident of achieving our target volume of approximately 6 MnT in FY26. The Board of one of the subsidiaries, Sagar Cements (M), has given approval to take up the expansion of cement grinding capacity from 1 MTPA to 1.5 MTPA and, as part of green energy initiatives, to establish a 6 MW solar power plant, involving a capex of around Rs 140 crore. In conclusion, we believe our enhanced capacities position us strongly to capitalize on the growing demand from the infrastructure and real estate sectors in the coming years. Additionally, our continued focus on diversifying revenue streams and expanding our regional presence is expected to further strengthen the companys overall profitability profile. Sagar Cements is engaged in the business of manufacturing and selling cement. Shares of Sagar Cements fell 1.60% to Rs 265.05 on the BSE.
Time of India
24-06-2025
- Business
- Time of India
Leased out: Heineken, MNCs face space crunch; shortage of office space turns into a stumbling block for HITEC City
HYDERABAD: When Dutch giant Heineken zeroed in on Hyderabad to establish its global capability centre (GCC) with plans to pour in nearly ₹3,000 crore, it perhaps did not anticipate that finding space in the heart of the IT hub of HITEC City would be akin to a mission impossible. The reason is that this swanky, most sought-after destination for GCCs, which has many a global CEO raving about its international ambience a la San Francisco's famed Bay Area, is practically all sold out (read leased out) in terms of Grade A space, say realty sources. HITEC City houses Sattva Group's Knowledge Park and Knowledge City, RMZ's Nexity, Raheja Mindspace, and CapitaLand Park, in addition to standalone projects by Auro Realty and My Home Group, among others. Among the last to grab a big chunk of space in a premium park here was McDonald's, which secured around 2 lakh sq ft over six months ago, while Eli Lilly opted for a standalone building near IKEA for a similar space as parks housing most pharma and healthcare GCCs were all leased out, sources said. "There is nothing available. No new supply will be available in HITEC City before the end of 2026. GCCs now have no choice but to explore standalone options on HITEC City's periphery or Financial District (FD) and Gachibowli," said Sreekanth Reddy, managing director-Hyderabad, Cushman & Wakefield. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like ¿Padece una enfermedad renal crónica (ERC)? Trialbee Más información Undo HITEC City houses around 55 million sq ft of Hyderabad's total 75 million sq ft Grade A space, he added. "There is some little inventory here and there, but most of the big ones are taken due to huge demand from GCCs as HITEC City has emerged as the first choice for GCCs coming to India," said Karan Chopra, chairman & co-CEO, Table Space. This unprecedented demand has sent rentals in what was earlier known as a sub-dollar market to triple digits. "Rentals in HITEC City have breached the Rs 100 per sq ft mark because of the absorption surge," confirmed Shrinivas Rao, CEO, Vestian. According to Vimal Nadar, national director & head of research, Colliers India, HITEC City accounted for 57% of Hyderabad's cumulative office leasing over last five years, with Grade A leasing surging 5X compared to 2020, driven by expansion of MNCs and tech giants. Elaborating on factors driving this demand surge, Rao said: "Of every 10 enquiries, Hyderabad accounts for four, showing it's right up there in the GCC world. Hyderabad and HITEC City's biggest advantage is world-class infrastructure compared to other cities and shorter commute times." The Metro Rail project has also emerged as a key driver of HITEC City's appeal for GCCs, said Reddy. Agreeing, Nadar said improved connectivity thanks to Raidurg-Nagole Metro Line 3 has played a crucial role in elevating HITEC City's commercial appeal. Realtors said the good airport connectivity as well as great social infrastructure too add to its appeal. This has also given rise to a paradoxical situation - recent market studies pegged Hyderabad as the market with the highest vacant Grade A stock among top cities in India. "Though there is a huge amount of Grade A space available in Hyderabad but its all sitting in FD and Gachibowli," Rao explained.
Time of India
23-06-2025
- Business
- Time of India
Shortage of Grade A office space turns a stumbling block for Hi-Tec City area in Hyderabad
Hyderabad: When Dutch giant Heineken zeroed in on Hyderabad for its global capability centre (GCC) with plans to pour in nearly Rs 3,000 crore, it perhaps did not anticipate that finding space in the heart of the IT hub of HITEC City would be akin to a mission impossible. The reason is that this swanky, most sought-after destination for GCCs, which has many a global CEO raving about its international ambience a la San Francisco's famed Bay Area, is practically all sold out (read leased out) in terms of Grade A space, realty sources said. HITEC City houses Sattva Group's Knowledge Park and Knowledge City, RMZ's Nexity, Raheja Mindspace, and CapitaLand Park, in addition to standalone projects by Auro Realty and My Home Group, among others. Among the last to grab a big chunk of space in a premium park here was McDonald's, which secured around 2 lakh sq ft over six months ago, while Eli Lilly opted for a standalone building near IKEA for a similar space as parks housing most pharma and healthcare GCCs were all leased out, sources said. 'There is nothing available. No new supply will be available in HITEC City before the end of 2026. GCCs now have no choice but to explore standalone options on HITEC City's periphery or Financial District (FD) and Gachibowli,' said Sreekanth Reddy, managing director-Hyderabad, Cushman & Wakefield. HITEC City houses around 55 million sq ft of Hyderabad's total 75 million sq ft Grade A space, he added. 'There is some little inventory here and there, but most of the big ones are taken due to huge demand from GCCs as HITEC City has emerged as the first choice for GCCs coming to India,' said Karan Chopra, chairman & co-CEO, Table Space. This unprecedented demand has sent rentals in what was earlier known as a sub-dollar market to triple digits. 'Rentals in HITEC City have breached the Rs 100 per sq ft mark because of the absorption surge,' confirmed Shrinivas Rao, CEO, Vestian. According to Vimal Nadar, national director & head of research, Colliers India, HITEC City accounted for 57% of Hyderabad's cumulative office leasing over last five years, with Grade A leasing surging 5X compared to 2020, driven by expansion of MNCs and tech giants. Elaborating on factors driving this demand surge, Rao said: 'Of every 10 enquiries, Hyderabad accounts for four, showing it's right up there in the GCC world. Hyderabad and HITEC City's biggest advantage is world-class infrastructure compared to other cities and shorter commute times.' The Metro Rail project has also emerged as a key driver of HITEC City's appeal for GCCs, said Reddy. Agreeing, Nadar said improved connectivity thanks to Raidurg-Nagole Metro Line 3 has played a crucial role in elevating HITEC City's commercial appeal. Realtors said the good airport connectivity as well as great social infrastructure too add to its appeal. This has also given rise to a paradoxical situation — recent market studies pegged Hyderabad as the market with the highest vacant Grade A stock among top cities in India. 'Though there is a huge amount of Grade A space available in Hyderabad but its all sitting in FD and Gachibowli,' Rao explained.
