Category: Breaking Corporate India Earnings News

Sadbhav Engineering just a while ago faxed us that the company has been awarded projects worth Rs 99.01 crore by Government of Chhattisgarh for execution of Chhattisgarh state road sector development project.

IVRCL Infrastructures & Projects (IVRCL) has announced that the company has bagged orders worth Rs 329 crore. These orders are awarded separately by Naya Raipur Development Authority (NRDA) for the construction of state secretarial building, Pimpri Chinchwad Municipal Corporation for constructing tenements and by Tamilnadu Water Supply and Drainage Board for the construction of sewerage scheme for Thiruvarur Municipality.

Walchandnagar Industries has told us that its board has approved the issue of bonus shares in the ratio of (1:1) and splitting the face value of each share into five. The board also recommended a special dividend of Rs 10 a share.

The company’s net profit rose 118.81% to Rs 11.4 crore on 41.38% rise in total income to Rs 195.14 crore in Q4 September 2007 over Q4 September 2006. The net profit surged 167.56% to Rs 35.56 crore on 77.05% rise in total income to Rs 637.41 crore in FY 2007 over FY 2006.

Kishore Biyani-led Future Group’s – Future Logistics Solutions Limited (FLSL), will invest Rs 400 crore in next three years to operate additional mega merchandising hubs and warehouses as it aims to touch a top line of Rs 800 crore by 2010.

Within three years, FLSL plans to operate about seven new mega merchandising hubs ranging from 70,000-100,000 sq feet and 30 smaller warehouses in cities across India, which would extend service to non-group companies also.

Future Logistics CEO Anshuman Singh said,

Going further, in line with Future Retail’s growth, FLSL plans to operate additional seven hubs and 30 warehouses. These hubs will receive products from vendors and then feed the other smaller warehouses across the country. Currently, sites which meet our requirements are being identified and evaluated. While development of all hubs will happen simultaneously, we expect the first mega hub to be completed in early 2009 in Western India.

If all the dreams of Kishore Biyani come true, then he may create more wealth for his shareholders than Dhirubhai Ambani in the long run.

XL Telecom & Energy has announced that the company has received fresh orders valued over Rs 658 million for export of solar panels to EU.

The total pending order book for the export of solar panels with this order stands at Rs 2.635 billion which is equal to 16 MW solar panels. The company is bullish on entering as a vendor with this large power utility company and is confident that over the period the customer engagement will be extremely fruitful with multiple repeat orders. The company is working smooth execution of these orders with in the financial year ending of 30 June 2008.

Raymond India and Reebok India have realized that the Indian parents are willing to spend more on their kids than themselves.

Raymond which introduced Color Plus for women a year ago now plans to introduce the same brand to launch kids’ wear in the premium segment. Gini & Jony, Lilliput and Zapp are existing kids wear brand but none capture the premium segment of the market. The branded kids wear market is about Rs 3,000 crore and by creating sub brand, Raymond wants to leverage the premium positioning of Color Plus. Raymond wants to be the first entrant in the kids segment and cash in on the retail boom in India.

Global sportswear giant, Reebok which represents individual sports with significant presence in the Indian market is now focusing on wooing the Indian kids. This is one of the best strategies to catch them when they are young and they are likely to stay brand loyal when they grow up.

Targeting kids in the range of 6-12 years, Reebok kids wear will be a premium brand and will be available in 600 stores across India from the end of this year. Mr. Prem of Reebok India said,

Kids are more individualistic and an epitome of Reebok brand value I Am What I Am. Indian kids are more aware of the international designs and have a choice of their own. They desire for the latest trends in fashion.

Reebok will launch Rbk Tech sports, Classic, Edge, Metromobility, Core and Sprint fit for Boys. The collection for girls range from Rbk Sweets, Dance Academy, Tech Sport and Workout.

DS Kulkarni Developers has executed a term sheet with GTC Real Estate NV of Netherlands for joint development of 250 acre Multi Services SEZ at Pune.

The said project is proposed to be developed in SPV company to be equally owned by the company and GTC. GTC shall invest approximately US $ 96 million into this project in a phased manner.

In a separate development, Bangalore based Purvankara Projects has pipped out DLF in the prestigious 30 acre land deal at Hyderabad.