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Business Standard
10 hours ago
- Business
- Business Standard
Reloy FY25 revenue rises 60% to ₹28.5 crore on strong referral sales growth
HDFC Capital-backed proptech startup Reloy, which helps builders generate referral sales, has posted a 60 per cent growth in revenue to Rs 28.5 crore in the previous fiscal year on high demand for housing properties. The company posted a gross revenue of Rs 17.8 crore in the 2023-24 financial year. "We managed to grow 50 per cent in our core referral sales business," Reloy Founder and CEO Akhil Saraf told PTI. He noted that the company has cracked the code on referral sales and replicating this across all clients. Saraf said the company is working with almost all leading real estate developers across major states. Founded in 2015, Reloy specialises in real estate loyalty and referrals. It is a B2B2C homeowner and broker management platform that helps builders manage their customers and brokers more efficiently. Reloy has so far raised Rs 13 crore from various investors, including HDFC Capital, which owns around 10 per cent stake in the startup. The tech solutions offered by the company streamline the post-purchase journey of homeowners. Reloy rewards homeowners with benefits across ancillary requirements of home interiors and home finance. It helps homeowners in post-purchase exercises like document management, construction tracking, and payments. It also creates a marketplace for other connected needs of home interiors and home finance. According to one of the leading real estate listing platforms, highlighted that proptech firms have garnered a total of USD 4.6 billion between 2010-11 and 2023-24 financial years, growing at a compound annual growth rate (CAGR) of 40 per cent. As per the latest report of realtors' apex body CREDAI and EY, the Proptech market size is estimated to jump multifold to around USD 600 billion by 2047 from the current USD 10.5 billion due to rise in the use of technology in the real estate sector. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Reuters
10 hours ago
- Business
- Reuters
India's HDB Financial IPO pricing not influenced by 70% premium in 'grey market', bankers say
MUMBAI, June 20 (Reuters) - The initial public offering of India's HDB Financial has been priced based on the fundamentals of the business, unaffected by the roughly 70% premium the stock is trading at in the informal 'grey market' for unlisted securities, bankers said on Friday. Shares in the lender will be sold in a price band of 700 rupees to 740 rupees per share ($8.06-$8.52), valuing HDB Financial at $7.1 billion at the upper end of the band. The shares were traded around 1,200 rupees to 1,250 rupees in the 'grey market'. "This price has been determined basis extensive roadshows," said Jibi Jacob, head of equity capital markets at Jefferies India, one of the bankers to the issue. "We have no influence on what is happening on the unlisted side," Jacob said at a press conference in Mumbai. HDB Financial's IPO, the largest for an Indian non-banking financial company, opens for subscription on June 25, with large institutions bidding a day earlier. The firm, which lends across segments such as personal and business loans, operates 1,747 branches nationwide. India's largest private lender, HDFC Bank ( opens new tab, holds a 94% stake in the firm. The IPO pricing has been determined on the fundamentals of the franchise and how key peers are trading, said Sonia DasGupta, head of the investment banking division at JM Financial, another banker to the issue. At 740 rupees per share, the price-to-book ratio, a key measure of valuation, works out to 3.72 for HDB, in line with peers such as Bajaj Finance ( opens new tab and Shriram Finance ( opens new tab. India's red-hot IPO streak has cooled in 2025, following a blockbuster year in 2024 that saw record capital raised through new listings. So far this year, nearly 100 firms have hit the market, raising about $4 billion, a decline from the 137 IPOs and $4.3 billion fundraise in the year-ago period, according to data compiled by LSEG. Analysts attribute tepid retail investor demand to aggressive IPO pricing, as the Nifty 50 (.NSEI), opens new tab trades nearly 6% below its record high from last September. The bull run in Indian markets post the COVID-19 crisis led to valuations of unlisted firms inflating beyond fundamentals, said Arun Kejriwal, founder of Kejriwal Research and Investment Services. "HDB's approach is a timely reminder that IPO pricing should be grounded in reality, not speculative hype," Kejriwal said. ($1 = 86.6040 Indian rupees)
India.com
13 hours ago
- Business
- India.com
Asia's richest village is located in THIS country, villagers hold Rs 7000 crore in bank deposits, their income comes from…, not in China, Korea or Japan, it is in…
Asia's richest village is located in THIS country, villagers hold Rs 7000 crore in bank deposits, their income comes from…, not in China, Korea or Japan, it is in… This village also has many bungalows, government and private schools, colleges, health centers, temples, and even lakes. The lifestyle and development here are better than many small towns in India. By Analiza Pathak Edited by Analiza Pathak Advertisement Asia's richest village is located in THIS country, villagers hold Rs 7000 crore in bank deposits, their income comes from..., not in China, Korea or Japan, it is in... Whenever we think of a village, a certain picture forms in our mind that includes mud houses, dusty roads, handpumps, bullock carts, and farmers working in the fields. We often imagine villages without electricity, far away from proper roads, with old men smoking hookah and women and children walking long distances to fetch water. But what if we told you that not all villages look like this anymore? Here we are talking about the richest village in Asia and you might be already guessing it is in China, Japan, or South Korea but no, it is right here in India. And it is not even in rich states like Delhi, Haryana, or Punjab but the village is in Gujarat and is located in the Bhuj district. Advertisement === Today, this village is nothing like the typical image we carry in our minds. It stands as a shining example of change and progress, breaking all the old ideas people have about what a village looks like. Let's find out what makes this village so special. The Village with Rs. 7000 crore in fixed deposits The village is called Madhapar, and it is known as Asia's richest village. Advertisement === With a population of around 32,000 people, Madhapar isn't just rich in culture it is rich in money too. The most surprising fact? This village has a whopping Rs. 7,000 crore in fixed deposits in various banks! Madhapar has around 20,000 houses, and most of the residents belong to the Patel community. What's even more impressive is the number of banks in this one village. You'll find branches of SBI, ICICI, HDFC, Punjab National Bank, Axis Bank, Union Bank, and more. In total, there are 15+ bank branches in this village alone. Many other banks across India, both government and private, are eager to open branches in Madhapar too. How Madhapar became the richest village in Asia Madhapar is known as Asia's richest village and a big reason behind this is its people living abroad. Around 65 per cent of the village's population are NRIs (Non-Resident Indians). These families send crores of rupees every year back to their hometown. Most of the money goes into local banks and post offices in Madhapar. Out of the 20,000 homes in the village, around 1,200 families live in foreign countries. Many of them are settled in African nations, where they have strong businesses, especially in construction. Others live in the U.S., U.K., Canada, Australia, and New Zealand. Even though they live abroad, they haven't forgotten their roots. They stay connected with the village and are constantly helping improve it in every way they can. According to a report in The Economic Times, Parulben Kara, head of the local district panchayat, said that these NRIs prefer keeping their savings in Madhapar's banks instead of foreign ones. They trust and value their village that much. Facilities that even cities envy The manager of a national bank branch in the village says that all this wealth from NRIs has made Madhapar rich. He shared that the village has clean water, proper roads, and excellent sanitation. Madhapar also has many bungalows, government and private schools, colleges, health centers, temples, and even lakes. The lifestyle and development here are better than many small towns in India. To stay connected with one another and promote their village's image abroad, people from Madhapar living in the U.K. even created a group called the Madhapar Village Association in London. It helps strengthen community ties and shares the pride of their home village with the world.
Bloomberg
2 days ago
- Business
- Bloomberg
Indian IPO Market Set for Busy Week With $1.7 Billion in Deals
India's primary market is set for its busiest period this year, with at least four companies planning to raise a total of about 150 billion rupees ($1.7 billion) through initial public offerings next week. Kalpataru Ltd., Ellenbarrie Industrial Gases Ltd., and Globe Civil Projects Ltd. will start share sale Tuesday. HDB Financial Services Ltd., a unit of India's biggest private lender HDFC Bank Ltd., is also planning to launch its $1.4 billion IPO Wednesday, Moneycontrol reported this week, citing people it didn't identify.
Business Upturn
2 days ago
- Business
- Business Upturn
Siemens Energy India in focus as shares to debut on exchanges; brokerages initiate coverage with bullish outlook
Siemens Energy India will make its stock market debut on Thursday, June 19, following its demerger from Siemens Ltd, and brokerages have responded with optimism, initiating coverage with strong 'Buy' ratings and ambitious price targets. The stock will be listed on both the BSE and NSE, with a special pre-open session held from 9:15 to 9:45 am and regular trading commencing at 10:00 am. Based on the derived dummy price from April 7, 2025, Siemens Energy India's indicative valuation stood at ₹2,478 per share, with final price discovery set to happen during today's pre-open session. Brokerage views on listing day Three major brokerages have initiated coverage with a positive outlook, highlighting Siemens Energy India's robust fundamentals, leadership in the transmission and distribution (T&D) space, and strong growth prospects: Antique Broking : Initiated coverage with a Buy and a target price of ₹3,179. The brokerage calls Siemens Energy India a major beneficiary of India's decarbonization push and T&D capex boom. With an order backlog of ₹15,000 crore and an estimated earnings CAGR of 35% over FY24–27, the firm expects solid medium-term visibility. : Initiated coverage with a and a target price of ₹3,179. The brokerage calls Siemens Energy India a major beneficiary of India's decarbonization push and T&D capex boom. With an order backlog of ₹15,000 crore and an estimated earnings CAGR of 35% over FY24–27, the firm expects solid medium-term visibility. HDFC Securities : Rated the stock Buy with a target price of ₹3,000. The brokerage believes Siemens Energy India stands out among peers due to its exclusive market rights in some South Asian countries and a comprehensive product portfolio. HDFC projects a PAT CAGR of 30% for FY25–27 and cites a 2.1x FY25E revenue order book. : Rated the stock with a target price of ₹3,000. The brokerage believes Siemens Energy India stands out among peers due to its exclusive market rights in some South Asian countries and a comprehensive product portfolio. HDFC projects a PAT CAGR of 30% for FY25–27 and cites a 2.1x FY25E revenue order book. Motilal Oswal (MOSL): Also initiated with a Buy and a target price of ₹3,000. It noted the company's long-standing presence in transmission and its advantage from upcoming T&D investments. MOSL expects revenue and PAT to grow at a CAGR of 25% and 31%, respectively, during FY25–27, with EBITDA margins improving to 21.4% by FY27. Growth positioning and industry outlook According to Jefferies, Siemens Energy India is set to become the largest listed pure-play T&D equipment company in the country, strategically positioned to ride the wave of India's rising power infrastructure investments. PL Capital forecasts a revenue CAGR of 19.6% between SY24 and SY27E, aided by increasing private and public capex, the proliferation of data centres, and upcoming high-voltage direct current (HVDC) projects averaging ₹10,000 crore each. Demerger background The demerger from Siemens Ltd received National Company Law Tribunal (NCLT) approval earlier this year. The allotment ratio was set at 1:1, meaning Siemens shareholders received one share of Siemens Energy India for every share held, as of the record date. The debut of Siemens Energy India comes at a time when India's energy infrastructure sector is undergoing a significant transformation, and the company is expected to play a pivotal role in shaping its future. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
