LALBHAI GROUP
Listed realty firm Phoenix Mills Ltd appoints Parveen Mahtani as group legal head
An alumna of Government Law College (GLC), Mumbai, Mahtani began her career at the law firm Desai & Diwanji as an associate, then joined another firm, Nishith Desai Associates. In 2005, she moved to an in-house role and joined IL&FS Trust Company Ltd. as legal head for the debt recovery division.
Arvind SmartSpaces shares rally 11% as bookings cross Rs 500 crore in Bengaluru project
Arvind SmartSpaces shares surged 10.83% after its Bengaluru project, Arvind Sylva – The Green Reserve, crossed Rs 500 crore in bookings within 30 days, achieving 60% value-based absorption. Located on Sarjapur Road, the premium project spans 4.7 acres with 375 residences. The stock has also shown strong recent momentum.
Stocks in news: Adani Group, OMCs, Persistent Systems and IRB Infra
The Indian stock market closed lower on Tuesday, with profit-taking affecting investor sentiment. Adani Group companies resolved their SEBI adjudication issues tied to potential infractions. Focus turned to oil marketing firms in light of a sharp fall in crude oil prices. Persistent Systems expanded its stake in Nagarro, eyeing a potential delisting, alongside numerous companies announcing expansion and corporate milestones.
Arvind SmartSpaces Q1 Results: Profit zooms 8-fold to Rs 97 crore
In the June quarter, Arvind SmartSpaces achieved remarkable results with an eight-fold rise in net profit. The company's total income surged to Rs 322.02 crore, while sales bookings more than doubled to Rs 432 crore. This exceptional performance stemmed from robust pre-sales and overall income growth, solidifying the firm's position as a leading player under the Lalbhai Group from Ahmedabad.
Reliance Brands ex-MD Darshan Mehta dies
A chartered accountant and a cost and works accountant, Mehta completed his articleship at PwC in 1984, and went on to serve as CFO of Trikaya Grey Advertising. He later joined the Lalbhai Group as CFO and was also the CEO of its retail firm Arvind Brands. He launched sportswear brands such as Tommy Hilfiger, Gant and Nautica in India in the early 2000s.
E-Bike Co Matter plans to raise up to $200 million to expand operations
Gujarat-based electric two-wheeler maker Matter Group is looking to raise up to $200 million in funds over the next two years to expand operations and set up a factory that will roll out a million motorcycles. The capital will also be used to develop new products and scale up distribution in the local market, group CEO Mohal Lalbhai told ET.
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EV startup Matter unveils geared electric motorcycle, plans 200 dealerships in next 12 months
The startup has big plans for the geared electric motorcycle. It plans to open 200 dealerships across major cities in the next 12 months and also export to markets in Asia, Africa and Latin America.
Business environment in FY23 remains challenging, says Arvind chairman Sanjay Lalbhai
The government's support moves as an increase in rates of incentives for the exports of readymade garments and dress materials from 2% to 4% and the National Technical Textiles Mission under which 100% FDI in the textile industry was allowed, along with the PLI scheme for textiles, are going to provide a stimulus to the industry.
Entrepreneurship 101: Sanjiv Goenka advises against vanity; Biocon boss bats for perseverance in the face of failure
Three business leaders at the top of their game give their tips for success
How Arvind Ltd is betting on newer businesses to move up the value chain
Technical textiles are now Arvind's bigger bets, along with water and wastewater treatment
In India, conglomerates must hone that edge
The top quartile conglomerates in India and South East Asia performed significantly better than others.
Stock options in a listed firm help create wealth: Sanjay Lalbhai
Lalbhai says move will help align professional management with shareholder value.
Syntel Telecom set to buy Enkay Technologies
Arvind has signed a definitive agreement to buy Enkay, which is the market leader in India in the unified communication segment.
Amplus Capital achieves first closure of second realty fund
The fund was launched recently and is among the few funds focused on early-stage equity investments in mid-sized residential real estate projects.
Arvind Internet to invest Rs 67 crore in digital business
Arvind also expects to double its revenues by 2020 to become a $1 billion (around Rs 6,700 crore) company.
Arvind to take on e-tailers with Nnnow.com
Kulin Lalbhai says Nnnow is not a dot-com, but an omni-channel engine which will try and bring together the online and offline worlds.
Lalbhai Group owned Amplus Realty Fund exits from Assetz Lumos project in Bengaluru
The fund invested in Assetz Lumos, in Nov 2012. The project has generated robust sales since its launch and is expected to be completed in 2016.
E-commerce wave: Arvind Internet to foray into e-commerce; scouts for new acquisition
Arvind Internet, e-commerce arm of textile and apparel group Arvind, is looking for a wide variety of acquisition targets and has already initiated talks.
Industrialist Shrenik Kasturbhai Lalbhai passes away
As the president of Anandji Kalyanji Trust and being a devout Jain, he was instrumental in the restoration of more than 1,200 Jain temples across the country.
Octogenarian Audit Advisor PD Kutne is no more
Kunte was involved in research activities relating to accounting and tax matters and promoted research activities that were carried out by the Bombay Chartered Accountants’ Society.
Arvind Ltd. signs JV with German firm for technical textiles
Textiles company Arvind Ltd on Tuesday announced a JV with German German-headquartered PD Fibre Glass Group to foray into glass fabrics in India.
Arvind targets Rs 4,000-cr turnover this fiscal
The company reported a turnover of Rs 3,200 crore last year. In the current fiscal, it is aiming a turnover of Rs 4,000 crore, including Rs 100-crore income from real estate.
Lalbhai Group firm acquires 51% in Anchor Adhesives
Atul, a Lalbhai Group chemical firm, on Friday said it has acquired 51% stake in Mumbai-based Anchor Adhesives for Rs 10 crore.
Arvind Mills weighs direct selling plans
The 80-year-old company has charted out an aggressive growth strategy targeted at the rural markets. The focus is on direct selling to consumers, a model which is still nascent in India, at 4-5%, as against 70% penetration in mature markets.
Lalbhai Junior set to add spin to Arvind's retail business
Kulin Lalbhai, younger son of Arvind group MD Sanjay Lalbhai, has joined country's largest denim exporter as chief manager. Gen Y CEOs: HCL, Wipro, Shapoorji Pallonji
Arvind Mills to set up chain of lifestyle retail formats
Betting big on organised retail, branded textiles heavyweight, Arvind Mills, has drawn up a blueprint to set up a chain of lifestyle formats straddling the entire spectrum of value retail, premium and luxury retail.
Arvind Mills to issue warrants, names chairman
The authorised capital of the company post issue will rise to Rs.4.5 billion.
Textile baron Arvind Lalbhai passes away
A glorious chapter in India’s textile history came to an end on Friday with the demise of industrialist Arvind Lalbhai.
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