REC, Prestige Estates Projects and SJVN to see some action today

REC has made record loan sanctions worth Rs 3,58,816 crore during 2023-24, posting a year-on-year rise of 33.66%. It had sanctioned Rs 2,68,461 crore as loan during the preceding 2022-23 fiscal. Its loan disbursements stood at Rs 1,61,462 crore in 2023-24 as against Rs 96,846 crore in 2022-23, i.e. up by 66.72%. As of March 31, 2024, the company's loan book was at Rs 5,09,545 crore, higher 17.13% as against Rs 4,35,012 crore in FY23.

Prestige Estates Projects has reported 63% annual increase in sales bookings during FY24 at Rs 21,040 crore --an all-time high, on strong demand for its residential properties and higher average per square feet realisation. The company's sales bookings stood at Rs 12,931 crore in the financial year 2022-23. The company attained the highest-ever annual collections of Rs 11,954 crore for FY24, a growth of 22% year-on-year (YoY). It achieved record sales bookings in volume terms as well totaling 20.25 million square feet in 2023-24, up 34% in the previous year. 

SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) has signed a Joint Venture Cum Shareholders Agreement with Assam Power Distribution Company (APDCL) on April 8, 2024. Joint Venture cum Shareholders Agreement records the terms of incorporation of a Joint Venture Company in accordance with the terms of the agreement for Development of Renewable Energy Projects / Parks within APDCL / SGEL or SJVN command area and on pan-India basis. Incorporation of Joint Venture Company in shareholding of 51:49 by SGEL and APDCL respectively. 

Puravankara has acquired 4,100 equity shares of Rs 100 each at par aggregating to Rs 4,10,000 by subscribing to the private placement of PPL Khondapur Developers, the step down wholly owned subsidiary of the company. As a result of the investment, PPL Khondapur will become step down subsidiary company from step down wholly owned subsidiary of the company. This investment will help PPL Khondapur to meet its expansion plans.  

Godrej Consumer Products’ India organic business witnessed strong underlying volume growth (Q4FY24) at high-single digit with growth being broad-based across both Home Care and Personal Care. While demand in Household Insecticides has been subdued due to an extended winter in the North and East, its GoodKnight Agarbatti launch was well received by consumers. Park Avenue and KamaSutra brands delivered in-line with category seasonality. Reported underlying volume growth continue to be in double-digit. 

Jindal Stainless’ subsidiary -- Jindal Lifestyle has launched the first premium cookware range under its Arttd'inox lifestyle brand. The new cookware range has three exquisite collections - Vida, Stellar, and Timber, and signifies a fusion of cutting-edge innovation and unmatched quality, designed to elevate the culinary experience for home chefs. Arttd’inox has always been at the forefront of innovative design language bonded with utility, in a beautiful symphony of form and function.

Sula Vineyards has recorded its highest ever Q4FY24 net revenues overall as well as for Own Brands and the Wine Tourism business. The company’s Own Brands sales rose 9% to Rs 113.0 crore in Q4FY24 as compared to Rs 103.4 crore in Q4FY23. While in Q4FY24, the growth of Wine tourism business was at 31% year-on-year at Rs 16.4 crore as compared to Rs 12.5 crore in the year ago period.