+
Wipro sells Chennai property to Casagrand for Rs 2.66 billion
Real Estate

Wipro sells Chennai property to Casagrand for Rs 2.66 billion

The IT services company Wipro announced the successful completion of the sale of a significant prime property located in Chennai, Tamil Nadu.

In the June 2023 quarter, Wipro reported a 12% increase in its consolidated net profit, which amounted to about Rs 28.7 billion. In the same period the previous year, the company had recorded a consolidated net profit of Rs 25.63 billion.

The firm disclosed that its operating income or earnings before interest and taxes (EBIT) had been registered at Rs 36.52 billion, which was 3% lower than in the fourth quarter of the 2022-23 fiscal year.

Furthermore, Wipro stated that its gross revenue had reached $ 2.8 billion, reflecting a 6% year-on-year increase. The revenue generated by its IT services segment rose to $ 2,778.5 million, representing a 0.8% year-on-year increase and a 6.1% year-on-year increase in rupee terms.

Wipro also reported that its total bookings for the quarter being reviewed amounted to $ 3.7 billion, with large deal bookings reaching $ 1.2 billion, marking a 9% year-on-year increase. This was the highest figure recorded in eight quarters, according to the company.

The IT services company Wipro announced the successful completion of the sale of a significant prime property located in Chennai, Tamil Nadu. In the June 2023 quarter, Wipro reported a 12% increase in its consolidated net profit, which amounted to about Rs 28.7 billion. In the same period the previous year, the company had recorded a consolidated net profit of Rs 25.63 billion. The firm disclosed that its operating income or earnings before interest and taxes (EBIT) had been registered at Rs 36.52 billion, which was 3% lower than in the fourth quarter of the 2022-23 fiscal year. Furthermore, Wipro stated that its gross revenue had reached $ 2.8 billion, reflecting a 6% year-on-year increase. The revenue generated by its IT services segment rose to $ 2,778.5 million, representing a 0.8% year-on-year increase and a 6.1% year-on-year increase in rupee terms. Wipro also reported that its total bookings for the quarter being reviewed amounted to $ 3.7 billion, with large deal bookings reaching $ 1.2 billion, marking a 9% year-on-year increase. This was the highest figure recorded in eight quarters, according to the company.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code