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Welspun Enterprises
Infrastructure developer Welspun Enterprises on Monday reported a 4 per cent fall in its consolidated profit after tax to Rs 77 crore in the December quarter. It had posted a profit after tax (PAT) of Rs 80 crore in the year-ago period, the company said in a statement. However, its total income rose 22 per cent to Rs 919 crore against Rs 754 crore a year ago. During the April-December period, the company's PAT rose 3 per cent to Rs 248 crore compared to Rs 242 crore in the nine-month period a year ago. In 9M FY25, the company achieved a revenue of Rs 2,563 crore, up 25 per cent year-on-year over Rs 2,051 crore. While EBITDA rose 14 per cent to Rs 523 crore during the nine-month period from Rs 460 crore a year ago. During the quarter, the company completed an acquisition of 9.99 per cent in Welspun Michigan Engineers Ltd, increasing its total stake to 60 per cent. "We have continued the momentum from the second quarter, and delivered the highest ever first 9 months consolidated r
Welspun Enterprises has reported around 11 per cent fall in consolidated net profit at Rs 61.56 crore for September quarter FY25 on account of higher expenses. It had logged Rs 69.01 crore net profit in the July-September period of FY24, the company said in an exchange filing. Total income rose to Rs 837.92 crore from Rs 692.65 crore in the year-ago period. Expenses surged to Rs 736.33 crore from Rs 595.61 crore a year ago. In a separate statement, the company said its consolidated order book stood at Rs 15,200 crore at the end of September 2024. The board has also approved acquisition of an additional 9.99 per cent stake of Welspun Michigan from Patel Engineering for around Rs 100 crore. After completion of the acquisition, Welspun Enterprises' total stake in subsidiary Welspun Michigan will increase to 60.09 per cent from 50.10 per cent. The transaction is expected to be completed on or before November 7, 2024. Welspun Michigan is an engineering and construction company, involv
Welspun Enterprises on Thursday said it has reported an 18.2 per rise in consolidated profit to Rs 109.73 crore for the quarter ended June 2024. The company had posted a consolidated profit of Rs 92.80 crore in the year-ago period, according to a regulatory filing. The total income of the company in the April-June period increased to Rs 959.76 crore, over Rs 750.04 crore in the year-ago period. Welspun Enterprises Ltd is one of the country's leading infrastructure developers with a diversified portfolio of projects in the infrastructure and energy sectors.
Welspun Enterprises on Tuesday reported a 45.4 per cent decline in consolidated profit to Rs 77.67 crore for the quarter ended on March 31, 2024. The company posted a consolidated profit of Rs 142.41 crore in the year-ago period. The consolidated income dropped to Rs 866.70 crore in the January-March quarter from Rs 916.46 crore in the year-ago period, according to an exchange filing by the company. Welspun Enterprises is an infrastructure developer with diversified portfolio of projects in infrastructure and energy sectors. Shares of the company tanked more than 8 per cent to trade at Rs 363.65 per share on BSE in the pre-close session.
Homegrown Welspun Corp on Thursday said its associate company East Pipes Integrated Company for Industry (EPIC) has received orders worth around Rs 3,000 crore in Saudi Arabia. "Associate company East Pipes Integrated Company for Industry in the Kingdom of Saudi Arabia (KSA) has received cumulative orders exceeding (Saudi Riyal) SAR 1.32 billion (Rs 3,000 crore)," Welspun Corp said in a statement. The new orders include supply of steel pipes to Saline Water Conversion Corporation (SWCC) with value exceeding SAR 1 billion (Rs 2,200 crore) inclusive of value added tax for manufacturing and supply of steel pipes. Another order for manufacturing and supply of steel pipes to Saudi Arabian Oil Co. (Aramco) is worth over SAR 153 million (Rs 339 crore) inclusive value of added tax. The order for double jointing and coating of steel pipes to Aramco has a value exceeding SAR 170 million (Rs 377 crore) inclusive of value added tax. EPIC is Saudi Arabia's leading manufacturer of Helical Subme
Welspun Enterprises Ltd on Monday announced acquiring a little over 50 per cent stake in technology-based EPC firm Michigan Engineers Private Ltd for Rs 137.07 crore. With the completion of the transaction, Michigan Engineers Private Ltd (MEPL) has become its subsidiary, Welspun Enterprises Ltd (WEL) said in a statement. "WEL has announced acquisition of 50.10 per cent stake in MEPL, a trenchless technology-based EPC (Engineering, Procurement and Construction) company in the urban water infrastructure segment, from the existing shareholders for an equity investment of Rs 137.07 crore," the statement said. The acquisition aligns with WEL's strategy to expand its water infrastructure business and marks the company's entry into a high-margin and high-growth water and tunnelling solutions segment, strengthening its overall business portfolio, the statement said. "MEPL is strong, strategic fit for accelerating the growth of our water business and we are certain that the combined strengt
Welspun One Logistics Parks (WOLP) on Tuesday said it has raised Rs 1,000 crore within four months of launching its second warehousing-focussed fund. The company also announced the opening of its "green shoe" option to raise an additional Rs 1,000 crore. The potential corpus could reach Rs 2,000 crore upon completion of the green shoe option, which would rank it among the largest in the domestic real estate alternatives space, WOLP said in a statement. The plan entails an overall investment outlay of over Rs 8,000 crore, which will propel Welspun One to an Assets under management (AUM) of USD 1 billion, it said. "We are deeply grateful to our investors for their unwavering faith in us, which has powered our successful second fund-raise," said Anshul Singhal, Managing Director at WOLP. The warehousing sector continues to exhibit strong growth with record-high demand of 51.3 million square feet in FY23, implying a CAGR of 24 per cent during FY17-23, according to the company. With a
Welspun One Logistics Parks (WOLP) on Monday said it has successfully concluded the initial close of its second Alternative Investment Fund (AIF), WOLP Fund 2, raising Rs 500 crore in eight weeks. WOLP Fund 2 was launched in March and aims to raise a corpus of Rs 2,000 crore, including a green-shoe option of Rs 1,000 crore, the company said in a statement. The sum of Rs 500 crore was raised from domestic high net worth and family office investors, it said and added that the speed of the raise underscores the strong investor confidence in both, the Welspun One platform and the prospects of the warehousing and industrial sector in India. We have witnessed an exceptional investor response, as the first round of WOLP Fund 2 successfully closed at INR 500 crore within an 8-week timeframe, which is a record of sorts in the alternative investments space, said Anshul Singhal, Managing Director at Welspun One Logistics Parks. Along with project-level debt, this is expected to give the fund
Welspun Enterprises on Wednesday reported more than doubling of its consolidated profit to Rs 30.47 crore for the quarter ended September. The company had clocked a net profit of Rs 14.47 crore for the year-ago quarter, it said in a BSE filing. Its total income rose to Rs 383.63 crore during the quarter under review as against Rs 340.61 crore in the year-ago period. Total expenses for the July-September quarter declined to Rs 342.38 crore as compared to Rs 297.60 crore in the year-ago period.