Ashwin Seth Group Targets Rs 30 billion Revenue for FY25
ECONOMY & POLICY

Ashwin Seth Group Targets Rs 30 billion Revenue for FY25

Ashwin Seth Group aims to achieve a revenue of Rs 30 billion for the financial year 2024-25. The company reported a revenue of Rs 15 billion for the financial year ending March 2024 and Rs 5 billion for FY23, as stated by Ashwin Sheth, the chairman and managing director.

In FY24, the company reached a sales revenue of Rs 14.86 billion. It is planning to invest approximately Rs 15 billion in FY25 and Rs 25 billion in FY26 to complete ongoing projects and support expansion. Typically, the company operates with a gross profit margin of 25 per cent.

Sheth Homes, the group's parent company, is also preparing for an IPO valued between Rs 20-30 billion within the next 18 to 24 months, with a projected valuation of around Rs 100 billion. The group has undergone rebranding to aid its expansion efforts and is allocating about Rs 200-230 million for a six-month rebranding initiative.

As of March 2024, the company's debt stands at Rs 4 billion, reduced from Rs 15 billion in March 2021. Sheth noted that the debt is expected to rise in the upcoming financial year due to expansion plans and the need for construction finance. However, the goal is to achieve a zero-debt status by the time of the IPO launch. The company currently operates in the mid-segment, upper mid-segment, and luxury segment, with plans to extend into the super-luxury segment in the future.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Ashwin Seth Group aims to achieve a revenue of Rs 30 billion for the financial year 2024-25. The company reported a revenue of Rs 15 billion for the financial year ending March 2024 and Rs 5 billion for FY23, as stated by Ashwin Sheth, the chairman and managing director. In FY24, the company reached a sales revenue of Rs 14.86 billion. It is planning to invest approximately Rs 15 billion in FY25 and Rs 25 billion in FY26 to complete ongoing projects and support expansion. Typically, the company operates with a gross profit margin of 25 per cent. Sheth Homes, the group's parent company, is also preparing for an IPO valued between Rs 20-30 billion within the next 18 to 24 months, with a projected valuation of around Rs 100 billion. The group has undergone rebranding to aid its expansion efforts and is allocating about Rs 200-230 million for a six-month rebranding initiative. As of March 2024, the company's debt stands at Rs 4 billion, reduced from Rs 15 billion in March 2021. Sheth noted that the debt is expected to rise in the upcoming financial year due to expansion plans and the need for construction finance. However, the goal is to achieve a zero-debt status by the time of the IPO launch. The company currently operates in the mid-segment, upper mid-segment, and luxury segment, with plans to extend into the super-luxury segment in the future.

Next Story
Real Estate

Green Fortress

The Reserve Bank of India's new regional office in Dehradun stands as a testament to modern architectural brilliance and blends cutting-edge technology with sustainable practices. This 18,344 sq m high-security facility is an exemplary model of eco-conscious building practices. With a goal to secure the prestigious IGBC Platinum certification, the RBI office embodies the principles of green architecture, from construction to completion.Client vision“The brief for RBI's nationally important Dehradun regional office called for a high-security facility housing India’s first automated mega-cur..

Next Story
Building Material

Relief for Birlas and cement company directors

The Gujarat High Court has halted criminal proceedings and summons issued against Kumar Mangalam Birla, his mother Rajashree Birla, and seven other directors of UltraTech Cement by a Vadodara court, following a criminal complaint. The summons had been issued on September 9 by the Vadodara chief judicial magistrate in connection with a case filed by Abhishek Shrivastava, the proprietor of Srimech Engineering. The directors of UltraTech Cement subsequently approached the High Court to challenge the summons. It was argued before the court that there had been a contract between Srimech and UltraT..

Next Story
Infrastructure Transport

Metro extension work between Badi Chaupar and Transport Nagar halted

The Jaipur Metro Rail Corporation (JMRC) has halted the extension of Metro Line 1C between Badi Chaupar and Transport Nagar for an indefinite period, according to sources familiar with the matter. A senior JMRC official stated that the decision was made following directives from the state government. The official mentioned that they had been instructed to slow down the expansion of Metro Line 1C, leading to the suspension of the project. However, the specific reasons behind this directive remain unclear, the official added, speaking on condition of anonymity. Urban Development and Housing (U..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000