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.

Fine Acers Expands to North India, Eyes INR 100 Crore Revenue from Delhi-NCR

Fine Acers Expands to North India, Eyes INR 100 Crore Revenue from Delhi-NCR

By Manu Vardhan Kannan

Published on July 28, 2026

Fine Acers, India's pioneer branded luxury resort developer and a leader in the sale-and-leaseback investment model, has expanded its footprint in North India with the inauguration of its new office in Gurugram, Delhi-NCR, on 23rd July 2026. The move follows the company's recent announcement of its London office and marks another step in its growth strategy.

The new office was inaugurated by Rahool Macarius, Market Managing Director – Eurasia, Wyndham Hotels & Resorts, in the presence of investors, business leaders and industry stakeholders. The expansion further strengthens Fine Acers' collaboration with Wyndham Hotels & Resorts while enhancing its presence in one of India's key real estate markets.

Located at DLF Corporate Greens, Gurugram, the office will serve as Fine Acers' North India hub, helping the company engage more closely with investors looking for professionally managed, hospitality-led real estate opportunities.

Fine Acers' business model combines globally recognised hotel brands, professionally managed hospitality operations and premium resort developments. Through its sale-and-leaseback model, investors can own branded resort residences and lease them back to a professional hospitality operator, enabling them to earn rental income without managing day-to-day operations.

Speaking ahead of the inauguration, Dinesh Yadav, Founder & Managing Director, Fine Acers, said:

"The launch of our Gurugram office marks an exciting new chapter for Fine Acers. Delhi-NCR has emerged as one of India's strongest markets for luxury real estate investments, with growing demand for professionally managed, experience-led assets. Our sale-and-leaseback model offers investors the opportunity to own premium resort residences while benefiting from professionally managed hospitality operations and rental returns. Establishing a presence in Gurugram allows us to be closer to our investors and strengthen our presence in North India."

He further added: "This is our second long-term investment in infrastructure development post our new office announcement in London. We are expecting more than INR 100 crore revenue from Delhi-NCR market."

The expansion comes at a time when demand for branded residences, managed holiday homes and experience-driven real estate investments continues to grow across India. As more investors seek professionally managed, income-generating assets, Fine Acers aims to strengthen its position through its hospitality-focused development model.

The Gurugram office will also help the company showcase its portfolio of branded luxury resort developments while increasing awareness of its sale-and-leaseback investment proposition across North India. The inauguration brought together key investors and industry leaders, reflecting the growing momentum of hospitality-led real estate and Fine Acers' vision for the future of luxury resort ownership.


Taj Retains World's Strongest Luxury Hotel Brand Title for Fifth Consecutive Year

Taj Retains World's Strongest Luxury Hotel Brand Title for Fifth Consecutive Year

By Manu Vardhan Kannan

Published on July 26, 2026

Indian Hotels Company (IHCL), India's largest hospitality company, has announced that its iconic brand Taj has been recognised as the World's Strongest Luxury Hotel Brand in Brand Finance UK's 'Hotels 50 2026' report. This marks the fifth consecutive year that Taj has received the prestigious recognition from the global brand valuation consultancy.

Sharing his thoughts on the achievement, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, said, “For over a century, Taj has been the embodiment of Indian hospitality for the world. The dual honour of being India's Strongest Brand and the World's Strongest Luxury Hotel Brand, reflects the strength of Taj's legacy and its continued relevance to travellers across generations and geographies.”

He added, “This recognition is a testament to the unwavering commitment of our 50,000+ associates, who continue to serve with the values that have shaped our identity.”

According to the Brand Finance 'Hotels 50 2026' report, Taj secured a Brand Strength Index (BSI) score of 93.5 out of 100 along with an AAA+ brand strength rating. The report also noted that the brand's value increased by 32% to USD878 million, helping Taj retain its position as the World's Strongest Luxury Hotel Brand.

Brand Finance highlighted that as luxury travellers increasingly look for authentic and experience-led stays, Taj continues to stand out through its unique combination of Indian heritage, personalised hospitality, and timeless luxury. The report also recognised the brand's ability to deliver meaningful guest experiences while preserving its cultural identity on the global hospitality stage.

Commenting on the recognition, Mr. David Haigh, Chairman & CEO, Brand Finance, said, “Taj’s continued recognition as the world’s strongest luxury hotel brand is a remarkable achievement. With an exceptional Brand Strength Index score of 93.5, Taj demonstrates how a brand can build global stature while remaining deeply rooted in its cultural identity. Its distinctive blend of Indian heritage, timeless luxury and personalised hospitality continues to create powerful guest affinity and sets an important benchmark for the global luxury hospitality industry.”

Today, Taj has a portfolio of 150 hotels across 14 countries, spanning grand palaces, city hotels, beach and spa resorts, wildlife safaris, and serviced residences, further strengthening its position as one of the world's leading luxury hospitality brands.


Gulshan Group to Invest ₹1,000 Crore in Premium Housing Project at Wave City

Gulshan Group to Invest ₹1,000 Crore in Premium Housing Project at Wave City

By Manu Vardhan Kannan

Published on July 24, 2026

Gulshan Group, one of North India's leading real estate developers, has announced the launch of Gulshan Empire, a premium residential project at Wave City. The company will invest approximately ₹1,000 crore in the development, which is expected to generate sales realisation of over ₹1,200 crore.

Spread across 5.5 acres (22,505 sq. m.), the single-phase project will feature 500 residential units, further strengthening the developer's presence in the NCR housing market. The project has been designed to meet the growing demand for premium homes that combine quality, comfort and long-term value.

While Gulshan Group is known for its luxury developments, Gulshan Empire has been positioned as a premium residential offering for homebuyers looking for the brand's signature construction quality, thoughtful design and reliability at a more accessible price point. The project has been primarily planned for end users, with a focus on spacious homes, integrated communities and sustainable value.

Commenting on the launch, Deepak Kapoor, Director, Gulshan Group, said:

"The residential market continues to witness strong demand from discerning homebuyers who value quality, thoughtful planning, and long-term value creation. Gulshan Empire reflects our commitment to developing communities that respond to these evolving aspirations while maintaining the construction standards and design philosophy that define the Gulshan brand. Our investment of ₹1,000 crore also underscores our long-term confidence in Wave City as an emerging residential destination supported by improving infrastructure and sustained end-user demand."

The development will be completed in a single phase, with delivery scheduled in line with the RERA timeline of 2031. The project will be financed through a combination of internal accruals, financial institutions and customer sales proceeds.

In the first phase, the company has launched around 9 lakh sq. ft. of residential space. Buyers can choose from 3 BHK residences with a helper room, starting at ₹2.20 crore, and 4 BHK residences with a helper room, starting at ₹3 crore. According to the company, the project has received an encouraging response since its launch, reflecting continued demand for premium homes in well-connected urban locations.

Speaking about the project, Yukti Nagpal, Director, Gulshan Group, said:

"Today's homebuyers are making more informed decisions, with equal emphasis on quality, design, location and the overall living experience. Gulshan Empire has been envisioned as a premium residential community that combines low-density planning, expansive green spaces, private garden residences and contemporary lifestyle amenities while staying true to Gulshan Group's legacy of delivering thoughtfully designed developments. We believe the project addresses the aspirations of families looking for homes that offer both everyday comfort and enduring value."

With Gulshan Empire, the company aims to strengthen its premium residential portfolio while addressing the evolving preferences of homebuyers seeking modern living spaces backed by quality construction and long-term value.

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