Latest news with #ChetanShah
The Wire
6 days ago
- Business
- The Wire
Marathon Nextgen Realty Raises Rs. 900 Crore Through Qualified Institutions Placement
Overwhelming Response from Premier Domestic and International Institutional Investors Validates Company's Growth Strategy MUMBAI, India, July 4, 2025 /PRNewswire/ -- Marathon Nextgen Realty Ltd (BSE: 503101) (NSE: MARATHON) ("MNRL"), one of Mumbai's leading real estate development companies, has successfully completed a Qualified Institutions Placement (QIP), raising Rs. 900 crore (US$ 105 million). The QIP proceeds will primarily be used as growth capital, enabling the company to expand its development pipeline and invest in high-potential opportunities across the Mumbai Metropolitan Region. This capital infusion will further strengthen the company's financial foundation with its net debt-to-equity ratio expected to reduce further from the current 0.46 following the planned debt reduction. The QIP was executed through the issuance of 1,62,12,406 equity shares at ₹555.13 per share (face value ₹5 each). The offering, which closed on June 30, 2025, attracted strong participation from leading institutional investors including Quant Mutual Fund, Kotak Alternate Asset Managers, and Samco Mutual Fund, among others. This QIP has significantly enhanced MNRL's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 9.9% and Domestic Institutional Investor (DII) holding rising to 16.66% post-issue. Management Commentary Mr. Chetan Shah, CMD of MNRL, said, "This successful capital raise of Rs. 900 crore represents a decisive vote of confidence from marquee institutional investors in our strategic vision and execution capabilities. The Indian real estate sector is witnessing unprecedented momentum creating substantial opportunities for well-positioned players like MNRL. Our demonstrated track record of delivering projects on time, coupled with our strategic land bank and robust project pipeline, positions us exceptionally well to capitalize on this sector upswing. Additionally, our recently approved amalgamation scheme—bringing promoter group entities and their assets under the MNRL—will consolidate our land bank, projects and inventory, creating an efficient operating structure with better corporate governance. We are at a strategic inflection point, equipped with the right capital, a robust asset base, and a clear long-term vision to drive the next phase of MNRL's evolution." Use of Proceeds The proceeds from the QIP will be utilized strategically across the following areas: Strategic Priority Allocation Percentage Debt Reduction ₹340 crore 38 % Land Acquisition and development rights ₹300 crore 33 % Fund on-going projects ₹160 crore 18 % General Corporate Purposes ₹100 crore 11 % Distinguished Investor Participation The QIP saw participation from a prestigious group of domestic and international institutional investors, including: Domestic Institutional Investors: Foreign Institutional Investors: Quant Mutual Fund Samco Mutual Fund Kotak Alternate Asset Managers SageOne Investment Managers Buoyant Capital Brescon Opportunities Fund Maybank Securities Morgan Stanley Asia Citigroup Global Markets Nomura Singapore Limited North Star Opportunities Fund Zeta Global Funds Eminence Global Fund PCC Necta Bloom VCC The complete Placement Document is available for detailed information About Marathon Group For over 53 years now, Marathon Group has been helping shape Mumbai's skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three heads of projects –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring decades of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales, and prides itself on its transparency and customer-centricity. The Group has ongoing projects and land banks at Lower Parel, Byculla, Mulund, Bhandup, Thane, Dombivli and Panvel. More information is available at Disclaimer Some of the statements in this communication may be 'forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company's operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations. Photo: Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
Yahoo
6 days ago
- Business
- Yahoo
Marathon Nextgen Realty Raises Rs. 900 Crore Through Qualified Institutions Placement
Overwhelming Response from Premier Domestic and International Institutional Investors Validates Company's Growth Strategy MUMBAI, India, July 4, 2025 /PRNewswire/ -- Marathon Nextgen Realty Ltd (BSE: 503101) (NSE: MARATHON) ("MNRL"), one of Mumbai's leading real estate development companies, has successfully completed a Qualified Institutions Placement (QIP), raising Rs. 900 crore (US$ 105 million). The QIP proceeds will primarily be used as growth capital, enabling the company to expand its development pipeline and invest in high-potential opportunities across the Mumbai Metropolitan Region. This capital infusion will further strengthen the company's financial foundation with its net debt-to-equity ratio expected to reduce further from the current 0.46 following the planned debt reduction. The QIP was executed through the issuance of 1,62,12,406 equity shares at ₹555.13 per share (face value ₹5 each). The offering, which closed on June 30, 2025, attracted strong participation from leading institutional investors including Quant Mutual Fund, Kotak Alternate Asset Managers, and Samco Mutual Fund, among others. This QIP has significantly enhanced MNRL's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 9.9% and Domestic Institutional Investor (DII) holding rising to 16.66% post-issue. Management Commentary Mr. Chetan Shah, CMD of MNRL, said, "This successful capital raise of Rs. 900 crore represents a decisive vote of confidence from marquee institutional investors in our strategic vision and execution capabilities. The Indian real estate sector is witnessing unprecedented momentum creating substantial opportunities for well-positioned players like MNRL. Our demonstrated track record of delivering projects on time, coupled with our strategic land bank and robust project pipeline, positions us exceptionally well to capitalize on this sector upswing. Additionally, our recently approved amalgamation scheme—bringing promoter group entities and their assets under the MNRL—will consolidate our land bank, projects and inventory, creating an efficient operating structure with better corporate governance. We are at a strategic inflection point, equipped with the right capital, a robust asset base, and a clear long-term vision to drive the next phase of MNRL's evolution." Use of Proceeds The proceeds from the QIP will be utilized strategically across the following areas: Strategic Priority Allocation Percentage Debt Reduction ₹340 crore 38 % Land Acquisition and development rights ₹300 crore 33 % Fund on-going projects ₹160 crore 18 % General Corporate Purposes ₹100 crore 11 % Distinguished Investor Participation The QIP saw participation from a prestigious group of domestic and international institutional investors, including: Domestic Institutional Investors: Foreign Institutional Investors: Quant Mutual Fund Samco Mutual Fund Kotak Alternate Asset Managers SageOne Investment Managers Buoyant Capital Brescon Opportunities Fund Maybank Securities Morgan Stanley Asia Citigroup Global Markets Nomura Singapore Limited North Star Opportunities Fund Zeta Global Funds Eminence Global Fund PCC Necta Bloom VCC The complete Placement Document is available for detailed information About Marathon Group For over 53 years now, Marathon Group has been helping shape Mumbai's skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three heads of projects –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring decades of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales, and prides itself on its transparency and customer-centricity. The Group has ongoing projects and land banks at Lower Parel, Byculla, Mulund, Bhandup, Thane, Dombivli and Panvel. More information is available at Disclaimer Some of the statements in this communication may be 'forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company's operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations. Photo: View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Solex Energy Ltd (NSE:SOLEX) Q4 2025 Earnings Call Highlights: Record Revenue Growth and ...
Revenue: INR 665 crore, an 81% increase from the previous year. EBITDA Margin: Increased by 157% compared to the previous year. PAT Margin: Increased by 390% compared to the previous year, with INR 42 crore PAT. Earnings Per Share (EPS): Increased by 301% compared to the previous year. Module Revenue: Increased from INR 283 crore to INR 497 crore, a 32% increase. EPC Revenue: Cumulative revenue of INR 104 crore. Other Revenue: INR 2 crore from other sales and job work. Warning! GuruFocus has detected 1 Warning Sign with NSE:SOLEX. Release Date: May 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Solex Energy Ltd (NSE:SOLEX) reported a significant revenue increase of 81% year-over-year, reaching INR 665 crore. The company's EBITDA margin improved by 157%, reflecting strong operational performance. Solex Energy Ltd (NSE:SOLEX) plans to expand its production capacity to 4 gigawatts by October 2025, with further expansion to 15 gigawatts of module and 5 gigawatts of cell manufacturing by 2030. The company has a strong focus on technological advancements, ensuring high-efficiency module production for both Indian and overseas markets. Solex Energy Ltd (NSE:SOLEX) has secured firm orders for its existing and new production lines, indicating strong demand and a robust order book. The company faced delays in starting its second production line, which impacted its ability to achieve the targeted turnover for FY'25. Solex Energy Ltd (NSE:SOLEX) reported a lower margin compared to some competitors, with a current margin of around 10% versus competitors' 15-16%. There is a high concentration of orders from a single client, which poses a risk if the client reduces or cancels orders. The company's cash flow from operations is negative, attributed to increased receivables and inventory levels. Solex Energy Ltd (NSE:SOLEX) is planning significant capital expenditure, which will increase debt levels and may require equity raising, potentially leading to dilution. Q: Considering the shortfall in FY25 performance due to some delays, would you like to revise or reaffirm the revenue guidance for this year? A: Vipul Shah, Director, stated that despite the shortfall in FY25, they are targeting a turnover between 2,200 to 2,400 crore for the current year, including the EPC business. They are confident in achieving these projections given the production capacity of 1.5 gigawatts for the full year and additional capacity for six months. Q: Why are the company's margins lower compared to competitors? A: Chetan Shah, Chairman and Managing Director, explained that their current EBITDA margin is around 11.5%, which is within their estimated range of 9 to 11%. They believe their margins are competitive and sustainable, considering market dynamics and industry standards. Q: How will the company manage sourcing cells once the ALM list is implemented, and will there be a threat to margins? A: Chetan Shah assured that market dynamics allow for price adjustments if suppliers increase prices. Contracts include clauses for changes in government laws and price fluctuations, ensuring that any cost increases can be passed on to customers. Q: What is the company's strategy regarding its high concentration on a single client? A: Vipul Shah mentioned that while there is a significant order from a single client, they have other smaller orders and master sales agreements in place. They expect the dependency on this single order to decrease as new orders are finalized. Q: Can you provide details on the company's expansion plans and funding strategy? A: The company plans to set up a 2 gigawatt cell line and additional module lines, with a total CapEx of approximately 1,500 crore. They aim to fund this through a mix of 1,000 crore in debt and 500 crore in equity. The expansion is expected to be completed within 18 months from the start date. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
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Business Standard
13-05-2025
- Business
- Business Standard
Solex Energy net profit up 390% at Rs 42.79 cr in FY25 on higher revenues
Solar solutions provider Solex Energy on Tuesday posted 390 per cent jump in its net profit to Rs 42.79 crore for the fiscal year 2024-25, mainly on the back of higher revenues. The company's Earnings Per Share (EPS) rose to Rs 43.82, reflecting a 301 per cent year-on-year growth, a company statement said. According to the statement, Solex Energy also reported a remarkable 390 per cent increase in Profit After Tax (PAT), soaring to Rs 42.79 crore from Rs 8.73 crore in the previous year. The company delivered a robust performance, with consolidated revenues reaching Rs 665.82 crore, a significant 81 per cent year-on-year growth compared to Rs 368.02 crore in FY 2023-24, it stated. The stellar growth was driven by increased demand for solar modules, strategic execution of large-scale EPC projects, and geographical expansion in Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan, it added. Chetan Shah, Chairman & Managing Director, Solex Energy, said, "Our FY 2024-25 performance is a clear reflection of Solex Energy's unwavering commitment to excellence, customer trust, and operational agility. As India accelerates its renewable energy ambitions, we are steadfast in our vision 2030, to become the country's most trusted solar energy partner, driving sustainable solutions that empower industries, communities, and future generations." Headquartered in Surat, Solex Energy has been a pioneer in sustainable energy since 1995. As the first Indian solar brand listed on NSE Emerge (stock code: SOLEX), Solex is renowned for producing high-end photovoltaic modules at competitive prices and offering comprehensive EPC services. Its factory in Tadkeshwar, Gujarat, has a 1.5 GW production capacity for PV modules. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
13-05-2025
- Business
- Time of India
Solex Energy net profit rises 390% to ₹42.79 cr in FY25
New Delhi: Solar solutions provider Solex Energy on Tuesday posted 390 per cent jump in its net profit to ₹42.79 crore for the fiscal year 2024-25, mainly on the back of higher revenues. The company's Earnings Per Share (EPS) rose to ₹43.82, reflecting a 301 per cent year-on-year growth, a company statement said. According to the statement, Solex Energy also reported a remarkable 390 per cent increase in Profit After Tax (PAT), soaring to ₹42.79 crore from ₹8.73 crore in the previous year. The company delivered a robust performance, with consolidated revenues reaching ₹665.82 crore, a significant 81 per cent year-on-year growth compared to ₹368.02 crore in FY 2023-24, it stated. The stellar growth was driven by increased demand for solar modules, strategic execution of large-scale EPC projects, and geographical expansion in Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan, it added. Chetan Shah, Chairman & Managing Director, Solex Energy, said, "Our FY 2024-25 performance is a clear reflection of Solex Energy's unwavering commitment to excellence, customer trust, and operational agility. As India accelerates its renewable energy ambitions, we are steadfast in our vision 2030, to become the country's most trusted solar energy partner, driving sustainable solutions that empower industries, communities, and future generations." Headquartered in Surat, Solex Energy has been a pioneer in sustainable energy since 1995. As the first Indian solar brand listed on NSE Emerge (stock code: SOLEX), Solex is renowned for producing high-end photovoltaic modules at competitive prices and offering comprehensive EPC services. Its factory in Tadkeshwar, Gujarat, has a 1.5 GW production capacity for PV modules.
