Page 2 - Birla Group

Birla Corporation's net profit down 23% to Rs 85 crore in March quarter

M P Birla group's flagship company, Birla Corporation Limited, on Tuesday said the cement major posted a net profit of Rs 85 crore for the March 2023 quarter, down by 23 per cent over the corresponding period last year. The consolidated revenue for the March quarter was Rs 2,512 crore, representing a 7.6 per cent growth. The consolidated cement sales by volume for the March quarter grew 4.5 per cent year-on-year to 4.44 million tonnes, a record high, and even with the price remaining weak, the realisation was up 4.3 per cent over the same period last year at Rs 5,261 per tonne. The company stated that it concluded a challenging FY 2022-23 despite sluggish demand in most key markets during the year. During the year, the biggest challenge for the entire cement industry was an abnormal rise in power and fuel costs, which typically account for around 30 per cent of total production costs for all manufacturers. For Birla Corporation Limited, power, and fuel costs went up 32 per cent fo

Birla Estates buys land parcel in Mumbai, eyes revenue more than Rs 600cr

Realty firm Birla Estates on Monday said it has purchased a land parcel in South Mumbai to develop a premium housing project and is expecting a sales revenue of more than Rs 600 crore from this upcoming property. Birla Estates, which is the real estate arm of the Aditya Birla Group housed under Century Textiles and Industries Ltd, did not disclose the size of the land parcel and also the deal value. With a surge in housing demand post the second wave of the COVID pandemic that hit India in April-June 2021, real estate developers are aggressively acquiring land parcels -- outright as well as through partnership with landowners -- to expand their businesses. In a regulatory filing, Century Textiles and Industries Ltd informed that its subsidiary Birla Estates has acquired prime land parcel in South Mumbai's upmarket residential area of Walkeshwar at Malabar Hill. "The luxury project will hold a revenue potential of over Rs 600 crore," it said. K T Jithendran, MD and CEO, Birla Estat

India will have a unique place in the global economy: Kumar Mangalam Birla

In his annual note, Birla listed five trends that will have a multi-year impact on the world

Birla Group Holdings to raise funds through sale of commercial papers

The company will offer a yield of 7.85% for this issue for which it has received commitments worth around 2 billion rupees ($24.62 million) so far

India at 75: These pre-independence companies thrived in independent India

These companies that operated under the constraints of British rule before 1947 helped India become self-sufficient in various sectors after independence

Reliance Jio, Bharti Airtel, others gear up for mega 5G spectrum auction

The 5G auctions will be a financial boost for Prime Minister Narendra Modi's government, which is trying to tame inflation and rein in the fiscal deficit

India's cement sector to add 80-100 mt capacity by FY25: K M Birla

Birla said the new round of expansion by UltraTech will take its capacity to 159.25 mtpa, reinforcing its position as the third-largest cement company in the world, outside of China

IT firm Birlasoft first quarter profit doubles to Rs 113.6 crore

The company had posted a profit of Rs 56.3 crore for April-June 2020

Harsh Lodha wins Supreme Court battle, can head four Birla companies

Top court directed Calcutta HC to dispose of all outstanding appeals and cross-appeals over Lodha holding office as a director in MP Birla Group companies by next March

Calcutta HC dismisses contempt petitions against Harsh Vardhan Lodha

According to the Lodhas, the 'landmark judgment' clears the decks for Harsh Lodha to continue as the chairman of all companies of the MP Birla Group

Top headlines: India may get 1st vaccine by Feb, FMCGs expand rural reach

India is likely to issue an emergency use authorisation to at least one Covid vaccine by the end of January and health workers will be the first to be inoculated. More headlines in our evening roundup

Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

A top Tata group official said the group is really interested in getting into banking but it is too early to elaborate as only recommendations are out and work is in nascent stage

These Tata, Birla, Ambani group stocks can make you rich. Check key levels

From a medium-term perspective, these 6 stocks should provide a good upside from the current levels. Also, these stocks can mitigate the risks in portfolio. Check out the key levels

A will and a way: How MP Birla companies performed under Harsh Lodha

In the long court battle over the M P Birla group, Harsh Lodha has been asked to step down from management. But in the last decade and a half, the group has grown under him

High Court refuses to stay order barring Lodha from heading M P Birla firms

The Division Bench of the Calcutta High Court on Thursday accepted the pleas of Birlas and declined the prayer of Lodhas and companies for stay on the directions passed by the single judge

Appeals filed by MP Birla Group firms, Lodha admitted in Calcutta HC

The three companies and Lodha moved applications challenging a verdict passed by a single judge on Friday

Lodha appeal against HC order to lean on extent of Priyamvada Birla estate

As per Lodha, the estate is defined the assets prepared by jt administrators and produced in court. That makes the estate a minority shareholder in all four mfg firms within larger promoter group

Lodhas to file appeal before Division Bench in Calcutta High Court

On Saturday, Single Bench order of Calcutta High Court restrained Shri Harsh V Lodha, non-executive director and chairman of the company from holding any office in MP Birla Group

Logging in with facemasks: Offices look different as staff returns to work

Office life in these cities resumed on Monday, albeit cautiously and with full knowledge of the need to maintain social distancing.

Supreme Court dismisses three special leave petitions filed by Birlas

Supreme Court has asked the single judge at the Calcutta High Court to decide upon the issue of jurisdiction, together with the applications for interim relief