GIC Housing Finance's net profit dips 18.71%

09 Aug 2023 CW Team

In the three months that ended on June 30, 2023, GIC Housing Finance's net consolidated profit decreased by 18.71%. According to a BSE statement by the company, its profit after tax decreased from Rs 39.17 crore in the first quarter of the previous fiscal to Rs 31.84 crore in the first fiscal year 24.

A decrease of 1.92 percent from the Rs 276.35 crore it reported in the same quarter previous year, the company's net consolidated total income for the first fiscal quarter of FY24 was Rs 271.05 crore.

The company had a net value of Rs 1,730.67 crore as of June 30, 2023, a debt-to-equity ratio of 5.21, a total debt to total asset ratio of 83.25%, and a net profit margin of 11.75%.

The board of directors approved raising money through the issuance of bonds or redeemable non-convertible debentures (NCDs) up to a total limit of Rs 2,500 crore through private placement.

Infrastructure Urban

09 Oct 2025

VECV to Manufacture Volvo Group’s Advanced AMTs in India

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, announced an investment of Rs 5.44 billion to produce and assemble Volvo Group’s 12-speed Automated Manual Transmission (AMT). The greenfield facility will be set up at Vikram Udyogpuri Integrated Industrial Township near Ujjain, Madhya Pradesh, and will cater to India and select Asia-Oceania markets.This investment marks a new milestone in the 18-year VECV-Volvo collaboration, which has already made VECV a global hub for Volvo Group’s 5 & 8 Litre (MDEP) engines since 2013, reinforcing the Make in Ind..

Action TESA Drives Shift from Plywood to Engineered Wood Solutions

Action TESA, a leading player in India’s panel industry, is spearheading the market transition from traditional plywood to engineered wood solutions such as Moist Master, HDHMR, and Boilo. These high-performance boards are redefining modular furniture, kitchen, and decorative applications with superior durability, design flexibility, and finish quality.Engineered wood offerings from Action TESA provide consistent quality, dimensional stability, and smooth surfaces, unlike plywood, which can have knots or gaps. The Moist Master, HDHMR, and Boilo BWP FR boards ensure excellent machinability, m..

CREDAI-MCHI Donates Rs 30.65 Mn for Maharashtra Flood Relief

CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region, has extended Rs 30.65 million to the Chief Minister’s Relief Fund to support rescue and rehabilitation efforts in flood-affected areas of central Maharashtra and neighbouring regions.The contribution was presented to Chief Minister Devendra Fadnavis by Sukhraj Nahar, President, and Rushi Mehta, Secretary, CREDAI-MCHI, in the presence of several leading developers from the Mumbai Metropolitan Region.A total of 44 member developers participated in this collective effort, underlining the real estate industry..