Avadh & Magadh Sugar Report Q3 & 9MFY25 Results: Mixed Performance Amid Industry Challenges

Avadh & Magadh Sugar Report Q3 & 9MFY25 Results: Mixed Performance Amid Industry Challenges

By Nishang Narayan

Published on February 16, 2025

The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) and Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) took on record the unaudited financial results for the quarter and nine months ended December 31, 2024.

Financial Highlights:

Avadh Sugar & Energy Limited (ASEL)

Q3FY25:

  • Total Income: ₹619 Cr (Q3FY24: ₹595 Cr)
  • EBITDA: ₹38 Cr (Q3FY24: ₹59 Cr)
  • PAT: ₹7 Cr (Q3FY24: ₹22 Cr)

9MFY25:

  • Total Income: ₹1,961 Cr (9MFY24: ₹2,076 Cr)
  • EBITDA: ₹131 Cr (9MFY24: ₹211 Cr)
  • PAT: ₹16 Cr (9MFY24: ₹73 Cr)

Magadh Sugar & Energy Limited (MSEL)

Q3FY25:

  • Total Income: ₹285 Cr (Q3FY24: ₹219 Cr)
  • EBITDA: ₹40 Cr (Q3FY24: ₹62 Cr)
  • PAT: ₹21 Cr (Q3FY24: ₹39 Cr)

9MFY25:

  • Total Income: ₹969 Cr (9MFY24: ₹810 Cr)
  • EBITDA: ₹97 Cr (9MFY24: ₹134 Cr)
  • PAT: ₹38 Cr (9MFY24: ₹70 Cr)

Management Commentary:

C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd:

“The sugar season 2024-25 has presented a mixed outlook, with challenges such as lower cane yields and lower recovery in key states like Uttar Pradesh, Maharashtra, and Karnataka affecting production. Despite these setbacks, we remain optimistic about long-term growth. However, rising production costs and stagnant ethanol prices call for timely policy adjustments.

At Avadh, we are focused on sustainable expansion, and with the upcoming completion of our crushing enhancement at the Hargaon unit for the 2025-26 season, we expect further value creation.”

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C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd:

“The industry is facing a decline in production due to lower cane availability and recovery, along with a shift toward ethanol. Despite these challenges, our ability to adapt and invest in expansion positions us well for long-term growth.

At Magadh, we are committed to sustainability and are enhancing our crushing capacity and implementing steam-saving measures at our Narkatiaganj unit, which is now operational for the 2024-25 crushing season. With the right policy support, the sugar industry can continue to play a crucial role in India's economy.”

About Avadh Sugar & Energy Limited

  • CIN: L15122UP2015PLC069635
  • Specializes in sugar, spirits, ethanol, cogeneration, and by-products of sugar manufacturing.
  • Operates four sugar mills in Uttar Pradesh: Hargaon, Seohara, Hata, and Rosa, with a total crushing capacity of 34,800 TCD.
  • Two distilleries at Hargaon and Seohara with a combined ethanol capacity of 325 KLPD.
  • Cogeneration facility generating 74 MW power.

About Magadh Sugar & Energy Limited

  • CIN: L15122UP2015PLC069632
  • Engaged in sugar manufacturing, ethanol production, and power generation.
  • Operates three sugar mills in Bihar: Narkatiaganj, Sidhwalia, and Hasanpur, with a total crushing capacity of 21,500 TCD.
  • Two distilleries at Narkatiaganj and Sidhwalia with a combined ethanol capacity of 155 KLPD.
  • Cogeneration facility generating 38 MW power.

JK Urbanscapes and Minor Hotels to Bring Anantara Retreats to Darjeeling

JK Urbanscapes and Minor Hotels to Bring Anantara Retreats to Darjeeling

By Manu Vardhan Kannan

Published on October 22, 2026

What if a luxury holiday meant waking up to mist-covered tea gardens, enjoying wellness experiences surrounded by nature and discovering the journey of tea from garden to factory? This experience is set to take shape in Darjeeling, West Bengal, as JK Urbanscapes Developers Limited (JKUDL) partners with Minor Hotels to develop Anantara Retreat Darjeeling Hills, a 70-key luxury retreat scheduled to open in 2031.

The project will mark the debut of Anantara Retreats in India, bringing the brand's wellness-led hospitality concept to the Eastern Himalayas. The development involves an investment of ₹110 crore by JK Urbanscapes in partnership with Mr Kaushal Kumbhat.

The retreat will be developed within the 849-acre Tindharia Tea Estate in Tindharia, approximately 40 km from Darjeeling town. Located at elevations ranging from 450 to 1,000 metres above sea level, the working tea estate features rolling plantations, mist-covered slopes and expansive valley views. The property will be planned around the natural landscape, allowing guests to experience the surroundings while the estate continues its tea-growing operations.

Anantara Retreats is a specialised luxury hospitality concept under Anantara Hotels & Resorts, part of Thailand-headquartered Minor Hotels. The concept focuses on secluded settings, personalised service and wellness experiences, including spa treatments, yoga, fitness, nutrition and mindfulness. It also brings local culture and the natural environment into the guest experience.

Anantara Retreat Darjeeling Hills will feature 35 suites and 35 tented villas positioned along the estate's slopes. Planned facilities include an Anantara Spa, a fitness centre and a swimming pool overlooking the plantation and valley.

Tea will play an important role in the property's guest experience. A tea factory and tea garden will allow visitors to understand how tea moves from the garden to production, connecting the retreat with Tindharia's tea-growing heritage. The development will also include 750 sq. m. of meeting and event space for small MICE gatherings and destination weddings.

Commenting on the signing, Abhishek Singhania, Chairman and Managing Director, JK Urbanscapes Developers Limited, said, “At JK Urbanscapes, we believe that exceptional developments begin with recognising the inherent potential of a place and preserving what makes it distinctive. Tindharia Tea Estate offers a rare opportunity to create a luxury hospitality destination that draws from the character of its landscape and the legacy of its tea-growing heritage. Our partnership with Minor Hotels brings together this distinctive setting and a globally renowned hospitality brand, reflecting our vision of building a portfolio of thoughtfully conceived destinations that offer enduring value while remaining deeply connected to their surroundings.”

Maneesh Mansingka, Joint Managing Director, JK Urbanscapes Developers Limited, added, “The development of Anantara Retreat Darjeeling Hills calls for an approach that is as thoughtful as it is commercially sound. The vision is to create a distinctive hospitality destination that draws from the natural character of Tindharia Tea Estate and its rich tea-growing heritage, while complementing the landscape in which it is set. By integrating accommodation, wellness and immersive tea-led experiences, we aim to create a retreat that offers guests a deeper connection with the destination while establishing a sustainable, long-term hospitality asset.”

The retreat will be located approximately 33 km from Bagdogra International Airport, with a road journey of around an hour. The airport connects the region with major Indian cities, including Delhi and Kolkata, as well as select international destinations.

Dillip Rajakarier, Group CEO of Minor International, the parent company of Minor Hotels, said, “Anantara Retreats belong in places that shape the stay, and Darjeeling does exactly that. Guests will settle into a working tea estate above the valley, follow the leaf from garden to factory and return to a wellness programme built around the same unhurried pace. We look forward to welcoming guests to Anantara Retreat Darjeeling Hills in 2031.”

The partnership adds to JK Urbanscapes' hospitality development portfolio, with the project bringing together luxury accommodation, wellness and tea-based experiences in one of West Bengal's established tea-growing regions.


JK Urbanscapes Partners with Minor Hotels for Anantara Retreat in Darjeeling

JK Urbanscapes Partners with Minor Hotels for Anantara Retreat in Darjeeling

By Manu Vardhan Kannan

Published on October 21, 2026

JK Urbanscapes Developers Limited (JKUDL), a member of the JK Organisation, has partnered with Minor Hotels to bring Anantara Retreats to India with a new luxury property in Darjeeling, West Bengal. Named Anantara Retreat Darjeeling Hills, the 70-key retreat will be developed within the 849-acre Tindharia Tea Estate and is scheduled to open in 2031.

The project involves an investment of ₹110 crore by JK Urbanscapes in partnership with Mr Kaushal Kumbhat. The development will mark the Indian debut of Anantara Retreats, a specialised luxury hospitality concept under Anantara Hotels & Resorts, part of Thailand-headquartered Minor Hotels.

Located in Tindharia, approximately 40 km from Darjeeling town, the working tea estate sits at elevations ranging from 450 to 1,000 metres above sea level. Its rolling tea gardens, mist-covered slopes and valley views will shape the guest experience, while tea-growing operations will continue across the estate.

Anantara Retreats focuses on secluded settings, combining premium accommodation and personalised service with wellness experiences. These include spa treatments, yoga, fitness, nutrition and mindfulness programmes, along with activities inspired by local culture and the natural surroundings.

Commenting on the signing, Abhishek Singhania, Chairman and Managing Director, JK Urbanscapes Developers Limited, said, “At JK Urbanscapes, we believe that exceptional developments begin with recognising the inherent potential of a place and preserving what makes it distinctive. Tindharia Tea Estate offers a rare opportunity to create a luxury hospitality destination that draws from the character of its landscape and the legacy of its tea-growing heritage. Our partnership with Minor Hotels brings together this distinctive setting and a globally renowned hospitality brand, reflecting our vision of building a portfolio of thoughtfully conceived destinations that offer enduring value while remaining deeply connected to their surroundings.”

The retreat will feature 35 suites and 35 tented villas positioned along the estate's slopes. Planned facilities include an Anantara Spa, a fitness centre and a swimming pool overlooking the tea plantation and valley. Guests will also have opportunities to explore the tea-growing process through experiences involving the estate's tea garden and factory.

The property will additionally offer 750 sq. m. of meeting and event space, catering to small MICE gatherings and destination weddings. Its wellness programmes will draw inspiration from the region's natural surroundings and tea-growing heritage.

Maneesh Mansingka, Joint Managing Director, JK Urbanscapes Developers Limited, said, “The development of Anantara Retreat Darjeeling Hills calls for an approach that is as thoughtful as it is commercially sound. The vision is to create a distinctive hospitality destination that draws from the natural character of Tindharia Tea Estate and its rich tea-growing heritage, while complementing the landscape in which it is set. By integrating accommodation, wellness and immersive tea-led experiences, we aim to create a retreat that offers guests a deeper connection with the destination while establishing a sustainable, long-term hospitality asset.”

The property will be located approximately 33 km from Bagdogra International Airport, with a road journey of around an hour. The airport connects the region with major Indian cities, including Delhi and Kolkata, along with select international destinations.

Dillip Rajakarier, Group CEO of Minor International, the parent company of Minor Hotels, said, “Anantara Retreats belong in places that shape the stay, and Darjeeling does exactly that. Guests will settle into a working tea estate above the valley, follow the leaf from garden to factory and return to a wellness programme built around the same unhurried pace. We look forward to welcoming guests to Anantara Retreat Darjeeling Hills in 2031.”

The project adds to JK Urbanscapes' hospitality development portfolio, bringing together luxury accommodation, wellness and tea-led experiences in one of West Bengal's established tea-growing regions.


IHG Signs Crowne Plaza Hyderabad Shamshabad Airport Road, Marking Brand's City Debut

IHG Signs Crowne Plaza Hyderabad Shamshabad Airport Road, Marking Brand's City Debut

By Hariharan U

Published on October 20, 2026

IHG Hotels & Resorts has signed a management agreement with AR Infra Consultancy to develop Crowne Plaza Hyderabad Shamshabad Airport Road, marking the Crowne Plaza brand's debut in Hyderabad. Scheduled to open in the first quarter of 2031, the 250-key hotel will strengthen IHG's presence in the city while targeting demand from airport transit, corporate travel, meetings and events.

The upcoming property will be located adjacent to Rajiv Gandhi International Airport and the 3.5 million sq. ft. World Trade Centre, positioning it within one of Hyderabad's emerging commercial and infrastructure corridors.

Shamshabad is witnessing development across commercial, industrial and logistics sectors, with aerospace facilities and mixed-use projects expected to support further business activity. The airport handled approximately 31 million passengers in 2025, while the development of the World Trade Centre and the expanding Aeronautical Park could add to the area's corporate travel potential.

For IHG, the signing reflects an opportunity to establish its premium Crowne Plaza brand in a location that combines airport connectivity with access to emerging business infrastructure. The hotel is expected to serve corporate travellers, event organisers, long-stay guests and professionals associated with industrial and infrastructure projects.

Commenting on the signing, Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said Shamshabad presents a compelling growth opportunity given its proximity to the airport and the development of commercial infrastructure. He added that the property could address growing corporate, meetings and airport-related demand while strengthening IHG's premium portfolio in India.

P. Revanth Reddy of AR Infra Consultancy described the project as the company's first venture into the hospitality sector, building on its experience in real estate and infrastructure across Telangana and Andhra Pradesh. He said the partnership with IHG would support the development of a landmark hospitality destination and establish a foundation for the company's long-term presence in the sector.

Hotel Facilities and Key Features

Once operational, Crowne Plaza Hyderabad Shamshabad Airport Road will feature 250 keys, including 37 suites, alongside a range of dining, business and leisure facilities.

The planned food and beverage offering includes five outlets:

  • All-day dining restaurant: 187 seats

  • Bar: 65 seats

  • Specialty restaurant: 65 seats

  • Pool bar: 65 seats

  • Lobby lounge: 55 seats

The hotel will also feature 1,170 sq. m. of meeting and event space across five venues, including an 800 sq. m. ballroom. Additional facilities will include a club lounge, swimming pool, fitness centre, spa and parking spaces.

The combination of meeting facilities, multiple dining venues and leisure amenities is intended to position the property for corporate gatherings, conferences, social events and airport-linked stays.

IHG Expands Its Hyderabad and India Portfolio

The signing further expands IHG's presence in Hyderabad, where its existing portfolio includes two operational Holiday Inn Express hotels and an InterContinental hotel under development. The new Crowne Plaza will add a premium offering focused on business travel and MICE demand.

Across India, IHG currently operates 53 hotels across seven brands and has a pipeline of 110 hotels expected to open over the next three to five years. Its portfolio includes Six Senses, InterContinental Hotels & Resorts, Vignette Collection, Crowne Plaza, voco Hotels, Holiday Inn Resort and Holiday Inn Express.

The planned Crowne Plaza Hyderabad Shamshabad Airport Road adds to this expansion strategy, with the location offering access to airport traffic and the commercial developments expected to shape the region's growth over the coming years.

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