Ashwin Seth Group Targets Rs 30 billion Revenue for FY25

30 Jul 2024 CW Team

Ashwin Seth Group aims to achieve a revenue of Rs 30 billion for the financial year 2024-25. The company reported a revenue of Rs 15 billion for the financial year ending March 2024 and Rs 5 billion for FY23, as stated by Ashwin Sheth, the chairman and managing director.

In FY24, the company reached a sales revenue of Rs 14.86 billion. It is planning to invest approximately Rs 15 billion in FY25 and Rs 25 billion in FY26 to complete ongoing projects and support expansion. Typically, the company operates with a gross profit margin of 25 per cent.

Sheth Homes, the group's parent company, is also preparing for an IPO valued between Rs 20-30 billion within the next 18 to 24 months, with a projected valuation of around Rs 100 billion. The group has undergone rebranding to aid its expansion efforts and is allocating about Rs 200-230 million for a six-month rebranding initiative.

As of March 2024, the company's debt stands at Rs 4 billion, reduced from Rs 15 billion in March 2021. Sheth noted that the debt is expected to rise in the upcoming financial year due to expansion plans and the need for construction finance. However, the goal is to achieve a zero-debt status by the time of the IPO launch. The company currently operates in the mid-segment, upper mid-segment, and luxury segment, with plans to extend into the super-luxury segment in the future.

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..