Ashwin Seth Group Targets Rs 30 billion Revenue for FY25
ECONOMY & POLICY

Ashwin Seth Group Targets Rs 30 billion Revenue for FY25

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.

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.

Next Story
Real Estate

What Does Home Insurance Really Cover?

Home insurance is one of the most important protections a homeowner can have. It offers financial cover for unexpected damages, losses, or liabilities related to your property. However, many homeowners are not fully aware of what is actually included in their home insurance policy.This guide breaks down what home insurance really covers, so you can be better prepared and make informed decisions.What is home insurance?Home insurance is a financial product that protects your house and belongings against damage, theft, or accidents. It generally includes coverage for the building itself, as ..

Next Story
Infrastructure Urban

Hettich Strengthens Industry Ties at Madhya Pradesh Investment Meet

Hettich India, a global leader in furniture fittings, reinforced its commitment to Madhya Pradesh’s industrial growth as a Guest of Honour at an Interactive Session on Investment Opportunities in Power, Renewable Energy Equipment, and White Goods Manufacturing, hosted by the Government of Madhya Pradesh in partnership with the Confederation of Indian Industry (CII) at Hotel Trident, Nariman Point, Mumbai.The session, chaired by Dr Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh, brought together leading domestic and international investors, industry representatives, and business lead..

Next Story
Equipment

Raimondi Names New Saudi Branch Head

Raimondi Middle East has announced the appointment of Ahmad Shakkour as Branch Manager for the Kingdom of Saudi Arabia, reinforcing the company’s commitment to expanding its presence in one of its key regional markets.With Saudi Arabia driving a wave of large-scale infrastructure and urban development projects, Raimondi aims to strengthen its on-ground operations and customer engagement. The company currently has over 100 cranes deployed across the country and continues to expand its technical and service teams to support growing demand.“Saudi Arabia represents a cornerstone of our regiona..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?