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.

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