Elgi Equipments announces PAT of Rs 60.5 cr in 1QFY2023

16 Aug 2023 CW Team

Elgi Equipments, manufacturer of air compressors, announced the results for the first quarter ended June 30, 2023. Consolidated PAT for the quarter was Rs 60.5 crore compared to Rs 48.7 crore in the same period in 2022-23. Consolidated sales for the first quarter was Rs 724 crore as against Rs 694 crore in the corresponding quarter in 2022-23.

The standalone PAT for the first quarter was Rs 67.1 crore compared to Rs 44.6 crore in the same period in 2022-23.

The compressor business in the domestic market met the targeted numbers. Business growth in Europe and Brazil were commensurate with the budget. Sales realisations were affected in USA due to temporary disruption caused by the ongoing ERP implementation. Business performance in Middle East and Africa, Australia and South-East Asian Countries were satisfactory.

The automotive business achieved the targets. The ongoing ERP implementation in the US has stabilsed and is expected to be normal by the second quarter and sales is expected to bounce back to normal levels.

Real Estate

05 May 2026

Dubai Real Estate Sales Reach AED48 Billion

Dubai’s real estate market recorded 13,977 sales transactions worth AED48 billion in April 2026, reflecting continued resilience across residential and commercial segments.According to a market update by fäm Properties, sales volume rose 3.5 per cent month-on-month compared to March, while total sales value increased by 10.7 per cent. The commercial sector, including offices and shops, recorded the strongest growth, with 561 transactions valued at AED4 billion, up 33.9 per cent year-on-year and 36.2 per cent month-on-month.Apartment sales rose 6.5 per cent month-on-month to 11,377 transacti..

Casagrand Launches 35-Acre Hyderabad Project

Casagrand has launched Casagrand Vybe, its largest residential project in Hyderabad, spread across 35 acres in Rajendra Nagar. The launch marks the company’s fifth residential rollout in 2026 and strengthens its expansion momentum in the city.As part of its Hyderabad growth strategy, Casagrand is adding 3.98 million sq ft of residential space to its portfolio. Since entering the Hyderabad residential market in 2023, the company has scaled its presence with projects across key micro-markets. In 2025, it launched four projects — Casagrand Evon, Casagrand Windsor Court, Casagrand Belair and C..

Bentley Event Spotlights AI Infrastructure

Bentley Systems recently hosted Illuminate Mumbai 2026, bringing together infrastructure leaders, policymakers, technology experts and academia to discuss how AI-driven engineering and digital twins can accelerate India’s journey towards Viksit Bharat 2047.The event focused on scaling intelligent and connected infrastructure ecosystems beyond digital adoption. Discussions covered the use of infrastructure AI, open data environments and digital twin technologies to improve project delivery, sustainability and long-term asset performance across key sectors.Kamalakannan Thiruvadi, Regional Exec..