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Mint
15 hours ago
- Business
- Mint
Bajaj Housing Finance Q1 Results: PAT surges 21% YoY to ₹583 crore, revenue up 18%
Bajaj Housing Finance announced on Wednesday that its net profit for the June quarter increased by 21% year-on-year (YoY), reaching ₹ 583 crore, up from ₹ 483 crore during the same period last year. The total revenue from operations for the company was ₹ 2,616 crore, reflecting an 18% increase from ₹ 2,209 crore in the same quarter of the previous financial year. The company's profit after tax (PAT) experienced a slight decline of 0.6% on a sequential basis compared to ₹ 587 crore reported in Q4FY25. At the same time, the revenue increased by 4% from the previous quarter, where the company recorded a revenue of ₹ 2,508 crore. In the April-June quarter of FY26, the company spent ₹ 1,862 crore, up from ₹ 1,788 crore in Q4FY25 and ₹ 1,579 crore in Q1FY25. Expenses grew by 4% on a quarter-on-quarter basis and rose by 18% year over year. These expenses included finance costs, employee benefits, and fees and commissions, among other items. Net interest income surged by 33% in Q1 FY26 to ₹ 887 crore, compared to ₹ 665 crore in Q1 FY25. As per the filing, assets under management (AUM) experienced a growth of 24%, reaching ₹ 1,20,420 crore as of 30 June 2025, up from ₹ 97,071 crore on 30 June 2024. Net total income rose by 25% in Q1 FY26, totaling ₹ 1,012 crore, an increase from ₹ 810 crore in Q1 FY25. Loan losses and provisions for Q1 FY26 amounted to ₹ 41 crore, in contrast to ₹ 10 crore in Q1 FY25. The company reported in its exchange filing that as of June 30, 2025, Gross NPA and Net NPA were at 0.30% and 0.13% respectively, compared to 0.28% and 0.11% previously. The provisioning coverage ratio for stage 3 assets stood at 56%. As of June 30, 2025, the capital adequacy ratio (including Tier-II capital) was 26.94%. According to the filing to the exchanges, the company holds the highest credit rating of AAA/Stable for its long-term debt program from CRISIL and India Ratings, along with an A1+ rating for its short-term debt program from CRISIL and India Ratings. On Wednesday, Bajaj Housing Finance share price closed 0.66% higher at ₹ 122.25 apiece on the BSE.
Economic Times
14-07-2025
- Business
- Economic Times
Reliance Infra shares rally 4% after 3-notch credit rating upgrade
Reliance Infrastructure shares rose after India Ratings upgraded its credit rating. The rating moved up three notches, removing the 'Default' classification after six years. Synopsis Reliance Infrastructure's shares experienced a surge following a three-notch credit rating upgrade by India Ratings and Research, moving from 'IND D' to 'IND B/Stable/IND A4'. This upgrade, driven by the company's significant debt reduction to near-zero with banks and financial institutions, also led to the removal of its 'Default' classification after six years. Shares of Reliance Infrastructure surged 3.7% to hit an intraday high of Rs 392 on the NSE on Monday after the company announced a significant credit rating upgrade from India Ratings and Research. ADVERTISEMENT In a regulatory filing made after market hours on Friday, the Anil Ambani-led company said that India Ratings has upgraded its credit rating by three notches, moving it from the earlier 'IND D' rating to 'IND B/Stable/IND A4' on its existing non-fund-based working capital limits. The credit rating agency also removed the company's 'Default' classification after six years. The rating upgrade was driven by Reliance Infra's sharp reduction in debt, with the company now reporting a near-zero debt position with banks and financial institutions.'This upgrade represents a significant improvement of three notches in the Company's credit profile, achieved after six years at the IND D rating level. The upgrade also reflects the Company's substantial deleveraging efforts, resulting in net zero debt with banks and financial institutions,' Reliance Infra said in its exchange the past one year, the stock of Reliance Infra has gained 105.67%. On a year-to-date (YTD) basis, it is up 22.81%, while over the last six months, the stock has risen 42.42%. In the last three months, it has recorded a sharp gain of 56.67%, and over the past one month, the stock is up 1.91%. ADVERTISEMENT On charts, the shares of Reliance Infrastructure are trading above their 50-day, 100-day and 200-day exponential moving averages (EMAs), according to Trendlyne the counter has been highly volatile with a 1-year beta of 1.6, the Trendlyne data suggested. ADVERTISEMENT Also read: Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow account (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
14-07-2025
- Business
- Economic Times
Smartworks Coworking IPO GMP at 4.7% on Day 3. Check subscription status, other details
Reliance Infrastructure shares saw a surge after India Ratings upgraded its credit rating. The rating moved up three notches, removing the 'Default' classification after six years. This upgrade reflects the company's significant debt reduction. Reliance Infra now reports near-zero debt with banks and financial institutions. The stock has shown substantial gains over the past year. Tired of too many ads? Remove Ads Smartworks Coworking Spaces IPO details Tired of too many ads? Remove Ads Use of funds According to the filing, proceeds from the IPO will be utilized as follows: Rs 225.8 crore for fit-outs and security deposits at new centres Rs 114 crore for debt repayment The remainder will be allocated towards general corporate purposes Smartworks Coworking Spaces profile Smartworks Coworking Spaces financials Tired of too many ads? Remove Ads Analyst recommendations Opinions remain divided among brokerage houses: Anand Rathi assigned a 'Subscribe – Long Term' rating, highlighting that at the upper price band, the company's valuation stands at a price-to-sales (P/S) ratio of 3.3x and an enterprise value-to-EBITDA (EV/EBITDA) multiple of 9.7x, post issue market capitalization pegged at Rs 4,644.8 crore. SBI Securities, however, issued an 'Avoid' recommendation, citing stronger alternatives like Awfis Space Solutions, which is profitable and trades at a significantly higher FY25 EV/Adj. EBITDA multiple of 26.5x. Bajaj Broking recommended a 'Subscribe for Long-Term', citing Smartworks' leadership position and focus on long-term contracts with multinational clients. The brokerage noted that while the company has posted positive cash EBITDA, reported losses are driven by provisions under accounting standards like Ind AS 116, which recognize lease liabilities as fixed costs, inflating interest and depreciation expenses. Book running lead managers Shares of Smartworks Coworking Spaces are witnessing strong demand in the grey market, trading at a premium of 4.7% (around Rs 19-20) over the issue price on the last day of its Friday, the second day of the offer, the issue was subscribed by 1.15 times, with non-institutional investors (NIIs) in the lead with 1.79 times subscription, followed by the retail investors who subscribed to the issue by 1.18 qualified institutional buyers subscribed to the issue by 63%.Smartworks Coworking Spaces aims to raise Rs 576-583 crore through a mix of fresh issue and offer-for-sale (OFS). The IPO, open for subscription until July 14, is slated to list on both BSE and NSE on July issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33.79 lakh company has set a price band of Rs 387–407 per share, with a Rs 37 per share discount offered to employees. Investors can bid in lots of 36 shares and in multiples in 2015, Smartworks Coworking Spaces is India's largest managed workspace provider by leased area, operating over 8.99 million sq ft across 50 centres in 15 Indian cities as of March 31, 2025. The company also has two centres operational in Singapore. It primarily caters to mid-to-large enterprises in sectors like IT, BFSI, and company operates primarily on a straight lease model, but is gradually shifting towards variable rental agreements to improve cost business model revolves around providing customized managed office spaces with technology-driven services, aesthetic design, and enterprise-focused amenities. The firm also offers value-added services such as wellness zones, convenience stores, and design-build (FaaS) company has demonstrated strong revenue growth, with operating revenue surging from Rs 711.39 crore in FY23 to Rs 1,374.05 crore in FY25. Its EBITDA improved to Rs 857.26 crore during FY25. However, despite improving margins, the company remains loss-making, posting a net loss of Rs 63.17 crore for of March 2025, Smartworks reported an occupancy rate of 83.1%, catering to 738 enterprise clients across its facilities, with a total seating capacity exceeding 2 lakh. JM Financial , BOB Capital Markets, IIFL Securities , and Kotak Mahindra Capital are managing the public issue.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
11-07-2025
- Business
- Economic Times
BEML board to meet on July 21 to consider stock split
State-run BEML's board will meet on Monday, July 21, 2025 to consider a split of its equity shares. The company did not mention the proportion of the stock split. ADVERTISEMENT The trading window will remain closed from July 1 till 48 hours after declaration of financial results, the board meeting for which shall be intimated in due course. BEML shares today ended the session with declines falling by Rs 170 or 3.7% over the Thursday closing price of Rs 4,435 amid weak market sentiments and profit booking in defence stocks. The state-run defense and heavy equipment manufacturer has been in news lately after it announced that it has received one order from the Commonwealth of Independent States (CIS) region for the supply of heavy-duty bulldozers, as well as a maiden order from Uzbekistan for the supply of high-performance motor graders. Also Read: Reliance Infra gets 3-notch ratings boost from India Ratings on near-zero debt The stock has been an underperformer, declining by over 9% in the past one year when headline indices Nifty and Sensex have managed returns of 3.4% and 3.2% respectively. ADVERTISEMENT Notwithstanding this, BEML shares are still trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 4,102 and Rs 3,664.7, company reported a quarterly net profit of Rs 288 crore in the quarter ended March 31, 2025 which was a growth of 12% YoY. Its revenues were BEML reported at Rs 1,656 crore in the January-March quarter, recording a growth of 9.1% YoY. ADVERTISEMENT Also Read: RIL to announce Q1 earnings on July 18 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
11-07-2025
- Business
- Time of India
BEML board to meet on July 21 to consider stock split
State-run BEML 's board will meet on Monday, July 21, 2025 to consider a split of its equity shares. The company did not mention the proportion of the stock split. The trading window will remain closed from July 1 till 48 hours after declaration of financial results, the board meeting for which shall be intimated in due course. BEML shares today ended the session with declines falling by Rs 170 or 3.7% over the Thursday closing price of Rs 4,435 amid weak market sentiments and profit booking in defence stocks. The state-run defense and heavy equipment manufacturer has been in news lately after it announced that it has received one order from the Commonwealth of Independent States (CIS) region for the supply of heavy-duty bulldozers, as well as a maiden order from Uzbekistan for the supply of high-performance motor graders. Also Read: Reliance Infra gets 3-notch ratings boost from India Ratings on near-zero debt The stock has been an underperformer, declining by over 9% in the past one year when headline indices Nifty and Sensex have managed returns of 3.4% and 3.2% respectively. Notwithstanding this, BEML shares are still trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 4,102 and Rs 3,664.7, respectively. The company reported a quarterly net profit of Rs 288 crore in the quarter ended March 31, 2025 which was a growth of 12% YoY. Its revenues were BEML reported at Rs 1,656 crore in the January-March quarter, recording a growth of 9.1% YoY. Also Read: RIL to announce Q1 earnings on July 18
