Page 2 - Welspun

Welspun Corp net profit falls 8.90% to Rs 240 cr in March quarter

Welspun Corp Ltd (WCL) posted an 8.90 per cent decline in its consolidated net profit to Rs 240.08 crore for the January-March quarter, hit by higher expenses. It had clocked a net profit of Rs 263.56 crore during the January-March quarter of the preceding financial year (FY) 2021-22, the company said in a regulatory filing. The company's total income rose to Rs 4,132.38 crore, from Rs 2,413.48 crore in the year-ago quarter. Its expenses rose to Rs 3,835.55 crore from Rs 2,033.16 crore in the January-March period of FY22. In a separate statement, B. K. Goenka, Chairman, Welspun Group said, "We have seen flawless execution and delivery for our customers resulting in strong cash flows and a substantial reduction in net debt. The acquisition of the plastic products business of Sintex has given us a head start in our foray into the B2C segment. "This will result in significant value creation for all our stakeholders in addition to providing growth to the existing business portfolio."

Welspun One Logistics Parks raises Rs 500 cr under 2nd AIF in initial phase

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

Stocks to watch: Bajaj Auto, Nestle India, Nykaa, IndusInd Bank, Welspun

Stocks to watch today: From Bajaj Auto to Nestle India, here are top stocks to watch in Tuesday's trade

Welspun India board of directors to consider proposal to buyback of shares

The outcome of the Board meeting will be communicated to the stock exchanges after conclusion of the Board meeting on April 27, 2023

Welspun Corp Limited subsidiary completes acquisition of Sintex-BAPL

Propel Plastic Products Private Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL), has discharged the consideration to the creditors of Sintex-BAPL Limited

Welspun India reports 68% drop in Q3 profit due to rising inflation

Analysts had, on average, expected a profit of 609.5 million rupees, according to Refinitiv IBES data

Welspun completes sale of six road assets to Actis for Rs 6,025 crore

Welspun exited 49 per cent of the BOT toll road and the remaining 51 per cent will require clearances expected to be completed by March 2024, it said in an exchange filing

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Global Investors' Meet: WOLP signs MoU with K'taka govt to invest Rs 2k cr

Welspun One Logistics Parks (WOLP), an integrated fund, development and asset management organisation, on Thursday said it has signed a memorandum of understanding (MoU) with the government of Karnataka to invest Rs 2,000 crore and aims to create over 6,000 jobs. The company plans to broaden its presence in the warehousing sector in South and signed the MoU at the ongoing Invest Karnataka: Global Investors' Meet. Welspun One seeks to utilise government and private land parcels in the State for the construction of Grade 'A' warehouse facilities and logistics parks, the company said in a release. WOLP said the warehousing facilities and logistics parks would spread across 6.28 million sq. ft. and be built over a 5-year period which would generate more than 6,000 jobs. "Our investment of INR 2,000 crores not only paves the way for Welspun One to expand into the growing warehousing and logistics market but also significantly demonstrates our ongoing dedication to the Indian economy,"

Delhivery set to expand infra footprint in Greater Mumbai, Bengaluru

Ties up with Welspun for a 700,000 sq ft mega-gateway in Greater Mumbai, and with GMR for one million-plus sq ft in Bengaluru; both will be operational by 2023

Welspun India to raise Rs 500 crore via non-convertible debentures

Welspun India is part of Welspun Group, a conglomerate that has business interests in sectors including line pipes, home textile products, infrastructure, warehousing, steel, oil and gas

India initiates anti-dumping probe against imports of vinyl tiles

They have submitted that the industry and the product are at a nascent stage

Welspun group co to build 1 mn sq ft warehousing for Bengaluru City Region

Will invest Rs 300 crore in the project, which is coming up on 40 acres at Malur-Hosur road in Tamil Nadu

Welspun One Logistics Parks launches Rs 500 cr warehousing focused fund

Named Welspun One Logistics Parks Fund I" the fund is a SEBI-registered Category II AIF

BHEL, L&T, Welspun, IRCTC among 15 firms in fray for running private trains

Rail ministry had invited RFQ for private operation of passenger trains over 12 clusters consisting of 140 Origin-Destination pair of routes with launch of 151 modern trains

Welspun group targets Rs 10 bn sales from new flooring venture in 3-4 years

From the middle of next year, Welspun Flooring will start exports to the US, Europe, Australia and southeast Asian countries

Welspun MD Rajesh Mandawewala buys three Mumbai flats for Rs 1.5 bn

Mandawewala paid more than Rs 83,000 per sq ft in the sea-facing project of The Wadhwa Group and Hubtown, two of Mumbai developers

Welspun to invest Rs 4k cr on textile projects in Gujarat

The group is also enhancing capacity of its technical textile business

Welspun takes Rs 501-crore hit over Egyptian cotton issue

Company takes Rs 501 crore hit in second quarter

Welspun to closely monitor its Egyptian cotton business

The Egyptian cotton imbroglio hit Welspun hard and led to a net loss in Q2 from an otherwise healthy profit last year