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.

Bharti Real Estate Opens World St. at Worldmark, Aerocity

Bharti Real Estate Opens World St. at Worldmark, Aerocity

By Manu Vardhan Kannan

Published on November 7, 2026

Bharti Real Estate, the real estate arm of Bharti Enterprises and owner of the Worldmark brand, has launched World St. at Worldmark, Aerocity, New Delhi. Spanning 2.6 lakh sq. ft., the new retail and food and beverage destination currently has 29 brands operational, with more openings planned. The launch also marks another step towards the company's larger retail expansion, with a destination mall of approximately 3 million sq. ft. targeted for 2028.

Designed as a social and culinary hub, World St. features a pedestrian-friendly promenade stretching approximately half a kilometre across Worldmark 4, 5 and 6. The development brings together restaurants, cafés, patisseries and retail outlets, along with alfresco dining spaces and green courtyards. Its walkable layout connects the commercial buildings, combining workplace, dining and leisure experiences.

The opening was marked by a two-day celebration. Open Plate, an open-air music festival, took place on 31 October, followed by World St. Live, featuring curated music and street performances, on 1 November.

Speaking about the launch, S. K. Sayal, Managing Director and CEO, Bharti Real Estate, said, “Retail is an integral part of our vision to develop Worldmark into a truly integrated Global Business District. With World St. at Worldmark, we have opened approximately 2.6 lakh sq. ft. of curated retail and F&B space, bringing together leading international and domestic brands in a pedestrian-friendly setting. The destination is designed to offer a vibrant mix of dining, shopping and social experiences, complementing Worldmark’s established commercial ecosystem. With over 20 food and beverage brands and a growing retail offering, this place is emerging as a lively destination for the wider business community as well as visitors from across Delhi-NCR. We believe that integrating high-quality retail and F&B with a world-class business environment will create a more engaging destination, enhance the overall experience for occupiers and visitors, and strengthen Worldmark’s position as a preferred business and lifestyle hub.”

The operational brand portfolio includes PF Chang’s, Magnolia Bakery, L’Opéra, YouMee, PizzaExpress, Chili’s, Kwality, Da Milano, Blue Tokai, PAUL, Starbucks Reserve, Forest Essentials, Mithai by Roseate, Le Marche Select, Mazze, Himalaya Opticals, Mokobara, Columbia, GIVA, Geetanjali, McDonald’s and Nykaa Luxe, among others. Bentley is also part of the announced brand portfolio.

International brands Olive Garden, Selva Maya and Lindt & Sprüngli are making their India debut at the destination. India’s first Time Out Market is also planned as a future addition, further expanding its food and beverage offering.

Looking ahead, Bharti Real Estate plans to develop a destination mall spanning approximately 3 million sq. ft., with around 2.8 million sq. ft. of gross leasable area. The mall is part of Worldmark 2.0, a development spanning approximately 7 million sq. ft. and including around 3 million sq. ft. of delivered office space across Worldmark 4, 5 and 6.

The wider Worldmark development at Aerocity is planned across nearly 17 million sq. ft., bringing commercial, retail, dining and leisure spaces together within an integrated business district.


ITC Hotels Signs Management Agreement for 95-Key Storii Shantiniketan

ITC Hotels Signs Management Agreement for 95-Key Storii Shantiniketan

By Manu Vardhan Kannan

Published on November 7, 2026

ITC Hotels Limited has signed a management agreement for Storii Shantiniketan, a 95-key retreat planned in Shantiniketan, West Bengal. Part of the company's Storii by ITC Hotels brand, the property is envisioned as an immersive destination celebrating the region's natural beauty, artistic heritage, literature, handicrafts, music, festivals and traditions.

Commenting on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said, “Shantiniketan is one of India’s most treasured cultural destinations, offering an unparalleled blend of heritage, art, literature and scenic charm. Storii Shantiniketan has been envisioned as an immersive retreat that celebrates the essence of the destination while delivering the warmth, personalisation and memorable experiences that define the Storii brand. We are delighted to bring a unique hospitality offering to this remarkable location.”

The hotel will feature 95 rooms and suites, along with an all-day dining restaurant, a bar and a lobby lounge. These dining spaces will offer guests opportunities to gather and enjoy local and international flavours.

For events and celebrations, the property will have approximately 5,000 sq. ft. of event space, complemented by landscaped lawns suited to social gatherings, cultural events and corporate retreats. Other facilities will include a swimming pool, fitness centre and a dedicated kids' club.

The design will incorporate traditional architecture, indigenous craftsmanship and local art forms, reflecting the cultural identity of Shantiniketan. The guest experience is envisioned around the region's artistic and cultural traditions, with spaces designed to offer a connection to the destination.

The signing reflects ITC Hotels' continued focus on expanding its leisure portfolio across distinctive destinations with potential for experiential travel and cultural exploration. With its artistic heritage and scenic surroundings, Shantiniketan adds another culturally rooted destination to the company's growing hospitality portfolio.


Sayaji Hotels Launches Enrise by Sayaji in Gandhidham, Strengthening Gujarat Presence

Sayaji Hotels Launches Enrise by Sayaji in Gandhidham, Strengthening Gujarat Presence

By Hariharan U

Published on November 6, 2026

Sayaji Hotels has expanded its presence in Gujarat with the launch of Enrise by Sayaji in Gandhidham, adding a new hospitality property to its portfolio in the commercial hub of the Kutch region. The hotel is positioned to serve business travellers, transit guests and visitors exploring the destination.

Gandhidham's proximity to Deendayal Port (Kandla) and its established trade and logistics network make it an important centre for commercial activity in the region. The city's business ecosystem also creates demand for accommodation and meeting facilities for professionals and enterprises operating across Kutch.

Enrise by Sayaji features 39 rooms and suites across three categories: Deluxe, Premium Deluxe and Suites. With room sizes ranging from 300 to 600 sq. ft., the property offers accommodation options for different guest requirements.

The hotel's dining offering is anchored by Momentt, a 60-cover multi-cuisine restaurant providing an in-house dining space for guests.

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For corporate meetings, business gatherings and social occasions, the property has three venues: Jewel, Crystal and Solitaire. The spaces offer flexible configurations for different event requirements, adding to the hotel's offering for business and social events in Gandhidham.

Speaking on the launch, Sumera Dhanani, Corporate Head – Business Development, Sayaji Hotels Ltd, said, “Gandhidham presents an exciting opportunity for Sayaji Hotels as we continue to build our presence in key markets across India. With its strong commercial ecosystem and strategic location in Kutch, the city aligns well with our expansion plans. Enrise by Sayaji marks another milestone in bringing our brand to a wider audience.”

Lalit Nawani, Director, Hardik Hotels Pvt Ltd, added, “We envisioned Enrise by Sayaji as a space that brings together thoughtful design, good food and functional spaces for business and social gatherings. Every element has been planned to meet the needs of today’s traveller while reflecting the character of Gandhidham. We are excited to introduce the property to the city.”

The launch adds another property to Sayaji Hotels' Gujarat portfolio, extending its hospitality offering into a commercial market with demand from business and transit travellers.

About Sayaji Hotels Ltd

Sayaji Hotels follows its 'Yours Truly' service philosophy and has a hospitality portfolio spanning business and leisure destinations across India. According to the company, its portfolio comprises 43 properties, including Enrise by Sayaji in Gandhidham, with a combined inventory of more than 2,700 keys.

With a presence spanning over four decades, the group focuses on contemporary design and personalised guest service. It has also been recognised as a Great Place to Work® in India.

Property Details

  • Hotel: Enrise by Sayaji

  • Location: Gandhidham, Kutch, Gujarat

  • Rooms: 39

  • Room Categories: Deluxe, Premium Deluxe and Suites

  • Restaurant: Momentt – 60 covers

  • Event Venues: Jewel, Crystal and Solitaire

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