HoABL expands development of plot business in North
NEW DELHI: House of Abhinandan Lodha (HoABL), Mumbai-based realtor, is expanding its plot development business in North India and recently opened its new office in DLF Cyber City, Gurugram. This new office will serve as a central hub for managing its latest acquisitions, project deliveries and its ambitious plan to bring Grade-A land ownership opportunities to a larger audience.
HoABL recently concluded major land acquisitions of 352 acres across Amritsar, Vrindavan, Varanasi, Shimla, Nagpur and Khopoli near Mumbai. These acquisitions, totalling Rs 3,000 crore in investments, will be brought to market beginning January 2025 in the form of branded new generation land with revenue potential of a billion dollar.
HoABL has delivered 150 acres of plotted land within the promised timelines and has another 700 acres under development, across 6 locations – Anjarle , Dapoli, Neral and Alibaug in Maharashtra , Goa and Ayodhya.
India Cements loss widens to Rs 339 crore, revenue from ops down 18.4 per cent to Rs 1K crore
The company’s revenue from operations was down 18.4% to Rs 1,031.80 crore as compared to Rs 1,264.39 crore in the corresponding quarter last financial year.
The India Cements Ltd (ICL) on Friday reported a consolidated net loss to Rs 339.13 crore for the second quarter ending September 2024.
The company had incurred a loss of Rs 80.07 crore in the July-September period a year ago, according to a BSE filing by the company, in which rival Aditya Birla group firm UltraTech Cement has announced to acquire a majority stake. The company’s revenue from operations was down 18.4% to Rs 1,031.80 crore as compared to Rs 1,264.39 crore in the corresponding quarter last financial year.
The company’s total expenses were at Rs 1,322.98 crore, down 3.8%. Total income, which includes other income, in the September quarter was down 6.41% to Rs 1,190.75 crore.
The cement manufacturer reported an earnings before interest, taxes, depreciation, and amortisation (EBIDA) loss of Rs 163 crore, it is in comparision to the positive EBITDA of of Rs 7.7 crore it had reported in the same quarter of the previous financial year. UltraTech Cement had acquired 22.77% stake in India Cements in June 2024 at a price of Rs 268 per share.
