Real estate firm Prestige Estates Projects Ltd has reported a 38 per cent decline in sales bookings to ₹10,065.7 crore during the April-December period of the current fiscal year. The company attributed this decrease to the launch of fewer housing projects due to delays in obtaining regulatory approvals. Prestige Estates, a prominent real estate developer based in Bengaluru, disclosed in its latest investors presentation that it sold 8.09 million sq ft of area at an average sales realisation of ₹13,128 per sq ft in the first nine months of the fiscal year 2024-25.
Global e-commerce giant Amazon recently sold shares of business services provider Quess Corp for ₹46 crore through an open market transaction. Amazon divested 7.54 lakh shares or 0.50 per cent stake in Quess Corp at an average price of ₹610.20. Meanwhile, Promoter billionaire Prem Watsa’s Fairfax Capital increased its holding in the company. Fairbridge Capital (Mauritius) and Quess Corp’s Chairman, Ajit Isaac, the two promoters of the company, acquired an additional 3.77 lakh shares each.
Coal India Ltd (CIL) reported its first monthly production decline in the current fiscal, with output decreasing by 0.8 per cent year-on-year in January. The company produced 77.8 million tonnes of coal during the month, down from 78.4 million tonnes in the same period last year. Despite the decline in January production, CIL’s management remains optimistic about achieving robust growth in the February-March period.
Lupin Ltd announced that the United States Food and Drug Administration (U.S. FDA) completed a Pre-Approval Inspection (PAI) of Edaravone Oral Suspension, 105 mg/ 5 mL, at its manufacturing facility in Somerset, New Jersey. The inspection, conducted from January 28 to February 1, 2025, resulted in zero observations.
Happiest Minds Technologies revealed that it has entered into a share purchase agreement to acquire 100 per cent stake in Gavs Technologies Ltd’s West Asia business through the acquisition of InnovazIT Technologies LLC, Dubai, Gavs Technologies LLC, Oman, and Gavs Technologies Saudi Arabia for Telecommunications and Information Technology, Saudi Arabia. The acquisition, involving a cash consideration of $1.7 million, is expected to be finalized by March 15, 2025.
Hazoor Multi Projects announced plans to invest ₹2,500 crore in a 500 MW solar project in Andhra Pradesh’s Prakasam district, spanning 2,000 acres. The state government, through NREDCAP, will support the project’s execution and has requested a detailed project report. HMPL recently launched 1.2 GW renewable energy projects in Maharashtra.
In the upcoming days, several companies are scheduled to announce their financial results, including Power Grid Corporation, Divis Laboratories, General Insurance Corporation, Tube Investment, Sundaram Finance, Aditya Birla Capital, Premier Energies, KPR Mill, NLC India, Gland Pharma, Tata Chemicals, and others.
This article was published on February 3, 2025.
