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.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..