To elevate Madhya Pradesh’s stature as a key contributor to India’s dairy industry and improve farmers’ livelihoods, the state government has announced a robust Rs 1,500 crore investment plan. Aimed at doubling milk production within five years, the initiative underscores a multifaceted approach to revolutionize the state’s dairy sector. The proposal, approved during a Cabinet meeting chaired by Chief Minister Mohan Yadav on Tuesday, marks a significant step in future-proofing the state’s agricultural economy. Senior Minister Kailash Vijayvargiya, briefing the media, highlighted a pivotal partnership between the Madhya Pradesh State Co-operative Dairy Federation (MPSCDF) and the National Co-operative Dairy Federation (NCDF).
“The tie-up with NCDF will not only enhance milk production but also significantly boost farmers’ income,” Vijayvargiya said. He emphasized plans to motivate farmers to adopt high-yield cattle breeds, coupled with comprehensive facilities for transporting milk and dairy products to markets. Organic farming practices, supported by organic manure usage, will also be encouraged.
In a move aligned with the National Education Policy 2020, the government will introduce an academic degree in dairy technology at Vikram University, Ujjain. The course will later be expanded to other universities, equipping youth with modern skills in dairy technology to propel Madhya Pradesh to the forefront of milk production.
Vijayvargiya also detailed plans to expand the number of dairy co-operative committees from 6,000 to 9,000 within five years. This expansion will enable the establishment of dairy plants in villages, with transportation and branding managed by private stakeholders. The state’s flagship milk brand, Sanchi, will see a renewed push to gain a stronger foothold in national markets with NCDF’s support.
“This is part of a larger vision to make Sanchi a national brand while ensuring the state becomes a top-tier milk producer,” Vijayvargiya added.
The move has not been without controversy. In September last year, the Madhya Pradesh government entrusted the operations of the State Cooperative Dairy Federation to the National Dairy Development Board (NDDB) for five years. While the Opposition Congress has raised concerns, accusing the government of paving the way for Gujarat’s Amul to dominate Sanchi through “backdoor” tactics, officials maintain that the decision is rooted in expanding Sanchi’s reach and enhancing its output.
Madhya Pradesh currently ranks third in milk production nationally, contributing 9% to the country’s total output. The state’s average per capita milk production stands at 673 grams per day, outperforming the national average of 471 grams.
As the initiative takes shape, Madhya Pradesh’s dairy farmers are poised to witness a remarkable transformation, one that could serve as a model for other states aiming to boost agricultural incomes and build a resilient rural economy.
Dharmendra’s net worth: Veteran Bollywood actor Dharmendra, lovingly called Bollywood’s He-Man, is celebrating his 89th birthday today. Even at this age, he inspires millions with his charm and active way of living. Over a career of more than six decades, Dharmendra has earned a huge fortune and enjoys a grand lifestyle.
Dharmendra’s Remarkable Career and Business Ventures
Dharmendra started his Bollywood journey in 1960 with the movie Dil Bhi Tera Hum Bhi Tere. Since then, he has acted in over 300 films, becoming one of the most loved actors in Indian cinema. According to several reports, Dharmendra was paid just Rs 51 for his debut film ‘Dil Bhi Tera Hum Bhi Tere’. His acting career has played a big part in building his wealth, which is estimated to be around Rs 450 crore, as per DNA India. Alongside acting, Dharmendra’s net worth has increased due to wise investments in property and his ventures in the hospitality industry.
In 2022, he expanded his restaurant business by opening a new place called “He-Man” on the Karnal Highway, adding to his earlier restaurant, “Garam Dharam Dhaba.”
Dharmendra’s Net Worth and Family’s Wealth
Dharmendra’s wealth goes beyond his personal earnings. His net worth is around Rs 450 crore and the total wealth of the Deol family is said to be more than Rs 1,000 crore. This includes Sunny Deol’s Rs 130 crore, Bobby Deol’s Rs 60 crore, Abhay Deol’s Rs 400 crore, and Karan Deol’s Rs 40-50 crore. Together, they have created a strong financial legacy in Bollywood.
Dharmendra’s Luxury Properties
Dharmendra’s luxurious lifestyle shows his great success. He mainly lives in Mumbai but often spends time at his large 100-acre farmhouse in Lonavala, a peaceful hill station near Mumbai. This farmhouse has all modern facilities, including a heated outdoor swimming pool where he does aqua therapy.
Reports say that Dharmendra’s houses in Maharashtra are worth more than Rs 17 crore. He has also bought agricultural and non-agricultural lands worth Rs 88 lakh and Rs 52 lakh, respectively. He is also planning to build a 30-cottage luxury resort on a 12-acre plot near his farmhouse in Lonavala.
Dharmendra’s Collection of Luxury Cars
Dharmendra’s cars reflect his love for classy vehicles. His collection includes a vintage Fiat—his very first car—and premium cars like the Range Rover Evoque (worth Rs 85.74 lakh) and a Mercedes-Benz SL500 (worth Rs 98.11 lakh), according to GQ India. This fleet highlights his passion for automobiles and his success in Bollywood.
Building a Legacy in Film Production
Besides acting, Dharmendra set up his production house, Vijayta Films, in 1993. The banner has given hits like Betaab and Barsaat, which introduced his sons Sunny and Bobby Deol. Recently, he also produced his grandson Karan Deol’s debut movie, Pal Pal Dil Ke Paas.
Expanding Into Hospitality
Dharmendra has also made a mark in the hospitality business. Along with his restaurants, Garam Dharam Dhaba and He-Man, he is working on a luxury cottage resort in Lonavala. This shows his entrepreneurial skills and ambition beyond acting.
Staying Connected with Fans on Social Media
Even at 89, Dharmendra is very active on social media. He often shares glimpses of his life, including his exercise routines, aqua therapy sessions, and family moments. This shows not only his passion for fitness but also his efforts to stay connected with his fans.
Honouring Dharmendra’s Legacy
As Dharmendra’s birthday adds another milestone to his incredible life, fans all over the world celebrate his contributions to Indian cinema and his evergreen appeal. From his grand lifestyle to his successful ventures, Bollywood’s He-Man remains an icon and a source of inspiration.
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It’s not every day a banana makes headlines – and definitely not for being worth millions. But that’s exactly what happened when artist Maurizio Cattelan’s ‘Comedian’ – a banana duct-taped to a wall – sold at a Sotheby’s auction for a mind-blowing Rs 52 crore ($6.2 million). Yes, you read that right – over six million dollars for a piece of fruit! The piece, while raising eyebrows, turned into a conversation starter about the absurdity of the modern art world. But it wasn’t until Chinese entrepreneur Justin Sun, known for his role in cryptocurrency, stepped in that the banana really stole the spotlight.
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Sun, who outbid a few other bidders to get the artwork, decided to make the moment even more ridiculous (in a good way) by eating the banana at a press conference in Hong Kong, The BBC reported. “It’s much better than other bananas,” he joked, poking fun at how a simple piece of fruit could end up costing millions. The act was both a stunt and a statement, with Sun saying that by eating the banana, he was making his own contribution to the piece’s history.
The banana was originally sold by Shah Alam, a 74-year-old immigrant from Bangladesh, for just 35 cents (Rs 29) at his fruit stand in New York. Alam, who works long hours at his stand selling fresh produce, had no idea he was part of an art revolution. When he heard how much his banana had fetched at auction, he couldn’t believe it. “I am a poor man. I have never had this kind of money,” Alam told the New York Times, clearly in shock.
Despite his newfound fame (and the crazy amount of money tied to his banana), Alam still seemed a bit baffled. “Do they not know what a banana is?” he asked, in disbelief over how something so simple could be valued so highly.
Justin Sun decided to show some love to Alam by buying 1 lakh bananas from his stand.
To thank Mr. Shah Alam, I’ve decided to buy 100,000 bananas from his stand in New York’s Upper East Side. These bananas will be distributed free worldwide through his stand. Show a valid ID to claim one banana, while supplies last. https://t.co/jbCnh0u3JI— H.E. Justin Sun ???? (@justinsuntron) November 28, 2024
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These bananas will be given away for free worldwide.
AR Rahman’s rise from humble beginnings to becoming one of the most celebrated music composers in the world is a story that inspires millions. With a career spanning over three decades, the Oscar-winning composer has not only made a mark in the global music industry but has also amassed considerable wealth. Known for his modest and low-key personal life, Rahman has built an empire through his musical genius. From sprawling estates in Los Angeles to luxurious cars, let’s take a deep dive into AR Rahman’s opulent lifestyle, wealth, and assets.
A Remarkable Journey to Stardom
AR Rahman’s journey to stardom began in the early 90s when he dropped out of school to support his family. Despite facing financial struggles, his passion for music never waned. In 1992, he debuted as a film composer with the iconic Roja under director Mani Ratnam. His success was almost immediate, and by 1993, he had already earned a National Film Award for Best Music Director.
Over the years, AR Rahman’s music transcended regional boundaries, making waves across Bollywood, Tollywood, Kollywood, and even Hollywood. Rahman won two Academy Awards in 2009 for his work on Slumdog Millionaire, cementing his position as one of the most revered composers globally.
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Multi-Crore Apartment in Los Angeles
AR Rahman’s success in Hollywood, alongside his numerous accolades, prompted him to invest in a luxurious apartment in Los Angeles. As reported by The Times of India, Rahman made this purchase in 2010 to not only serve as a home but also as a studio where he could compose music without the need to travel frequently. This sprawling property, which is likely worth several crores, is one of the few owned by an Indian composer in Los Angeles, a testament to his global stature and influence in the music industry.
Palatial Bungalow in Chennai
Back in his hometown of Chennai, AR Rahman owns a lavish bungalow in Kodambakkam, a prime residential area. Purchased in 2005 for an undisclosed amount, this grand residence is where Rahman spends most of his time when not traveling for work. The bungalow boasts a spacious interior with multiple bedrooms, a large dining area, a family room furnished with leather loungers, and a dedicated music studio. It also includes an entertainment space where the Rahman family spends quality time. This home is a symbol of his successful career and love for music.
Studios Across the World
Apart from his personal properties, AR Rahman owns a host of music studios both in India and internationally. His first studio, Panchathan Record Inn, which was established in his backyard in Chennai, has become one of the most famous music studios in the country. Rahman also owns AM Studios, another state-of-the-art facility located nearby. His international portfolio includes the renowned Firdaus Studio in Dubai and KM Musiq Studios in London. The most notable of his acquisitions is Abbey Road Studios, located in London, a historic landmark for music production and home to numerous iconic recordings.
A Fleet of Expensive Cars
AR Rahman’s love for luxury extends to his choice of cars. Known to have a penchant for high-end automobiles, Rahman’s garage is home to several expensive vehicles. Among them is a Mercedes-Benz, which is reportedly worth nearly Rs 3 crore, and a Jaguar, valued at more than Rs 1 crore, according to The Indian Express. His daughters, Khatija and Rahima, share in his love for luxurious vehicles as well, having purchased a Porsche Taycan EV in 2022, priced around Rs 3 crore.
Enormous Fees for His Work
AR Rahman is not just known for his musical genius but also for the hefty fees he charges for his work. According to sources such as Hindustan Times and Mint, Rahman charges a staggering Rs 3 crore per song. This exceptional fee is believed to be a strategy to limit the number of producers and musicians who approach him, as he prefers to focus on his own compositions rather than working on multiple projects at once.
In addition to his song fees, Rahman reportedly charges Rs 1 to 2 crore for a one-hour live performance, a rate that reflects his immense popularity and high demand for live shows, as per sources like CAKnowledge and Lifestyle Asia.
Net Worth: A Staggering Rs 1,728 Crore
AR Rahman’s wealth is the result of his extensive music career, high-paying gigs, and brand endorsements. With his impressive song fees, lucrative live performances, and numerous real estate holdings, Rahman’s net worth has reached an astounding Rs 1,728 crore, according to reports by Mint, Jagran, and DNA. His wealth also includes significant investments in businesses, real estate, and other ventures, solidifying his status as one of the wealthiest musicians in the world.
Ajay Devgn is a name synonymous with power-packed performances and unmatched versatility in the Indian film industry. The actor, director, and producer, known for his iconic roles in films like Singham, Tanhaji, and Golmaal, is one of the most successful and wealthiest actors in Bollywood. Currently dazzling audiences with his role in Singham Again, Devgn’s career continues to soar, and so does his personal lifestyle.
Aside from his acting prowess, Ajay Devgn is a real estate mogul, with properties scattered across Mumbai, London, and beyond. His Mumbai home, a grand bungalow in Juhu, stands as a testament to his taste for luxury and comfort. Let’s take a closer look at the interiors and lavish amenities that make Ajay Devgn’s home a dream residence.
The Stunning Location: Juhu, Mumbai
Ajay Devgn’s bungalow, named Shivshakti, is located in one of Mumbai’s most desirable neighborhoods—Juhu. Known for its proximity to the beach and its reputation as a haven for Bollywood’s elite, Juhu is home to many other high-profile celebrities. According to reports, the bungalow is valued at an impressive Rs 60 crore, making it a prime example of Mumbai’s opulent real estate market.
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Exquisite Interiors: A Blend of Luxury and Comfort
The interiors of Ajay Devgn’s home reflect a sophisticated yet welcoming atmosphere. The design incorporates neutral tones such as white, cream, and brown, creating a calm and inviting environment. The standout feature of the house is the oval wooden staircase that leads to the upper levels, adorned with frosted glass, adding an artistic touch to the overall design.
The home is filled with luxurious materials, such as white marble flooring, which extends throughout the living spaces, giving the bungalow an airy and expansive feel. Large floor-to-ceiling windows, complemented by wooden panels and elegant blinds, ensure the home is bathed in natural light throughout the day. These windows offer stunning views of the surrounding greenery, creating a sense of serenity within the bustling city.
Spacious Living and Dining Areas
The living room in Ajay Devgn’s bungalow is a masterclass in minimalism and elegance. The walls and ceilings are painted in shades of white, while the furniture includes a matching six-seater dining table surrounded by plush chairs. The living area features red leather couches, where Ajay and his family unwind, watch movies, and enjoy each other’s company. The room is tastefully decorated with family portraits, reflecting the actor’s deep connection to his loved ones.
A Personal Workout Haven
Ajay Devgn places great importance on fitness, and his home includes a well-equipped gym space for his daily workouts. Whether it’s strength training, cardio, or yoga, the workout area is designed to provide everything needed for a comprehensive fitness routine. The presence of a private gym allows the actor to maintain his physical fitness without having to step out of the comfort of his luxurious home.
Balconies and a Relaxing Backyard
In addition to the interiors, the bungalow also boasts several spacious balconies where Ajay and his family can enjoy the outdoors. These balconies are adorned with small plants, offering a touch of greenery and adding to the home’s calming ambiance. Comfortable cane furniture with cushions is placed in the outdoor spaces, making them perfect for enjoying a morning cup of tea or hosting friends and family.
One of the most striking features of the property is its backyard. This open, green space serves as a sanctuary for the Devgn family, providing an ideal location for relaxation, outdoor gatherings, and intimate parties. The well-maintained garden offers a tranquil escape from the hustle and bustle of Mumbai life.
Ajay Devgn’s Expensive Lifestyle: Net Worth and Property Portfolio
Ajay Devgn’s opulent lifestyle extends beyond his Mumbai residence. With an estimated net worth of Rs 427 crore, as reported by Mint and Financial Express, the actor has a well-rounded portfolio of investments, from real estate to luxury automobiles.
Real Estate Investments
Apart from his Juhu bungalow, Ajay Devgn also owns commercial properties in Mumbai and an exclusive property in London, valued at approximately Rs 54 crore. These investments reflect his business acumen and commitment to diversifying his wealth.
The Ultimate Car Collection
Ajay Devgn is known for his taste in luxury cars, and his garage houses an impressive collection of high-end vehicles. Among his prized possessions are:
These cars are a symbol of his success and reflect his penchant for the finer things in life.
Upcoming Projects: Ajay Devgn’s Thriving Career
On the professional front, Ajay Devgn shows no signs of slowing down. After a series of successful films this year, including Shaitaan, Maidaan, and Auron Mein Kahan Dum Tha, he is back in action with Singham Again. The highly anticipated Rohit Shetty directorial, which also stars Kareena Kapoor Khan, Deepika Padukone, and others, has already made waves at the box office, surpassing the Rs 200 crore mark in India.
In addition to Singham Again, Ajay has several other projects lined up, including Raid 2, De De Pyaar De 2, Son of Sardaar 2, and Golmaal 5, which promise to keep his fans eagerly waiting for more.
Ajay Devgn’s Mumbai bungalow, with its luxury, functionality, and family-oriented spaces, is a true reflection of the actor’s personal and professional achievements. Whether it’s his home, his investments, or his impressive car collection, Ajay has certainly earned the lifestyle that comes with being one of Bollywood’s top stars. His family-oriented approach to life is also evident in the way he has designed his living space to accommodate both relaxation and entertainment, making Shivshakti a perfect sanctuary for him, his wife Kajol, and their children Nysa and Yug.
Ajay Devgn is a name synonymous with power-packed performances and unmatched versatility in the Indian film industry. The actor, director, and producer, known for his iconic roles in films like Singham, Tanhaji, and Golmaal, is one of the most successful and wealthiest actors in Bollywood. Currently dazzling audiences with his role in Singham Again, Devgn’s career continues to soar, and so does his personal lifestyle.
Aside from his acting prowess, Ajay Devgn is a real estate mogul, with properties scattered across Mumbai, London, and beyond. His Mumbai home, a grand bungalow in Juhu, stands as a testament to his taste for luxury and comfort. Let’s take a closer look at the interiors and lavish amenities that make Ajay Devgn’s home a dream residence.
The Stunning Location: Juhu, Mumbai
Ajay Devgn’s bungalow, named Shivshakti, is located in one of Mumbai’s most desirable neighborhoods—Juhu. Known for its proximity to the beach and its reputation as a haven for Bollywood’s elite, Juhu is home to many other high-profile celebrities. According to reports, the bungalow is valued at an impressive Rs 60 crore, making it a prime example of Mumbai’s opulent real estate market.
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Exquisite Interiors: A Blend of Luxury and Comfort
The interiors of Ajay Devgn’s home reflect a sophisticated yet welcoming atmosphere. The design incorporates neutral tones such as white, cream, and brown, creating a calm and inviting environment. The standout feature of the house is the oval wooden staircase that leads to the upper levels, adorned with frosted glass, adding an artistic touch to the overall design.
The home is filled with luxurious materials, such as white marble flooring, which extends throughout the living spaces, giving the bungalow an airy and expansive feel. Large floor-to-ceiling windows, complemented by wooden panels and elegant blinds, ensure the home is bathed in natural light throughout the day. These windows offer stunning views of the surrounding greenery, creating a sense of serenity within the bustling city.
Spacious Living and Dining Areas
The living room in Ajay Devgn’s bungalow is a masterclass in minimalism and elegance. The walls and ceilings are painted in shades of white, while the furniture includes a matching six-seater dining table surrounded by plush chairs. The living area features red leather couches, where Ajay and his family unwind, watch movies, and enjoy each other’s company. The room is tastefully decorated with family portraits, reflecting the actor’s deep connection to his loved ones.
A Personal Workout Haven
Ajay Devgn places great importance on fitness, and his home includes a well-equipped gym space for his daily workouts. Whether it’s strength training, cardio, or yoga, the workout area is designed to provide everything needed for a comprehensive fitness routine. The presence of a private gym allows the actor to maintain his physical fitness without having to step out of the comfort of his luxurious home.
Balconies and a Relaxing Backyard
In addition to the interiors, the bungalow also boasts several spacious balconies where Ajay and his family can enjoy the outdoors. These balconies are adorned with small plants, offering a touch of greenery and adding to the home’s calming ambiance. Comfortable cane furniture with cushions is placed in the outdoor spaces, making them perfect for enjoying a morning cup of tea or hosting friends and family.
One of the most striking features of the property is its backyard. This open, green space serves as a sanctuary for the Devgn family, providing an ideal location for relaxation, outdoor gatherings, and intimate parties. The well-maintained garden offers a tranquil escape from the hustle and bustle of Mumbai life.
Ajay Devgn’s Expensive Lifestyle: Net Worth and Property Portfolio
Ajay Devgn’s opulent lifestyle extends beyond his Mumbai residence. With an estimated net worth of Rs 427 crore, as reported by Mint and Financial Express, the actor has a well-rounded portfolio of investments, from real estate to luxury automobiles.
Real Estate Investments
Apart from his Juhu bungalow, Ajay Devgn also owns commercial properties in Mumbai and an exclusive property in London, valued at approximately Rs 54 crore. These investments reflect his business acumen and commitment to diversifying his wealth.
The Ultimate Car Collection
Ajay Devgn is known for his taste in luxury cars, and his garage houses an impressive collection of high-end vehicles. Among his prized possessions are:
These cars are a symbol of his success and reflect his penchant for the finer things in life.
Upcoming Projects: Ajay Devgn’s Thriving Career
On the professional front, Ajay Devgn shows no signs of slowing down. After a series of successful films this year, including Shaitaan, Maidaan, and Auron Mein Kahan Dum Tha, he is back in action with Singham Again. The highly anticipated Rohit Shetty directorial, which also stars Kareena Kapoor Khan, Deepika Padukone, and others, has already made waves at the box office, surpassing the Rs 200 crore mark in India.
In addition to Singham Again, Ajay has several other projects lined up, including Raid 2, De De Pyaar De 2, Son of Sardaar 2, and Golmaal 5, which promise to keep his fans eagerly waiting for more.
Ajay Devgn’s Mumbai bungalow, with its luxury, functionality, and family-oriented spaces, is a true reflection of the actor’s personal and professional achievements. Whether it’s his home, his investments, or his impressive car collection, Ajay has certainly earned the lifestyle that comes with being one of Bollywood’s top stars. His family-oriented approach to life is also evident in the way he has designed his living space to accommodate both relaxation and entertainment, making Shivshakti a perfect sanctuary for him, his wife Kajol, and their children Nysa and Yug.
Raymond Lifestyle has reported a 69.72 per cent decline in consolidated net profit to Rs 42.18 crore for the second quarter ended September 2024, on account of subdued demand and higher inflationary pressures. It had reported a net profit of Rs 139.33 crore for the July-September quarter a year ago, according to a late night regulatory filing from Raymond Lifestyle, a Raymond Group firm on Tuesday.
Its revenue from operations was down 5.27 per cent to Rs 1,708.26 crore in the September quarter. It was at Rs 1,803.38 crore in the year-ago period.
Total expenses of the Singhania family-promoted firm were down 1.38 per cent to Rs 1,622.95 crore in Q2 FY’25.
Raymond Lifestyle’s total income, which includes other income, was at Rs 1,735.21 crore, down 6.16 per cent.
“Raymond Lifestyle Ltd had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures,” Managing Director Sunil Kataria said.
During the quarter, Raymond Lifestyle’s revenue from the Textile segment, which consists of the branded fabric business of the company, was down 8.48 per cent to Rs 853.52 crore. The decline was “predominantly on account of muted customer demand and ‘Shraadh’ in the month of September. the company said in its earning statement. However, its revenue from ‘Shirting’ fabric, a B2B segment, was up 8.31 per cent to Rs 228.35 crore.
The apparel segment was marginally up around 1 per cent to Rs 441.02 crore in the September quarter. This segment, which has a branded readymade garments business, was driven by new store additions despite subdued consumer demand and challenging market conditions, it added.
Its revenue from ‘Garmenting’ was down 9.28 per cent to Rs 259.60 crore in the September quarter.
The performance of the garment manufacturing business in Q2 FY25 was “impacted by certain delays in shipment dispatches due to logistic challenges,” it said.
During the quarter, Raymond Lifestyle continued its focus on retail expansion and operated 1,592 stores including 129 in Ethnix by Raymond.
“Recent buoyancy has been witnessed at the start of a festive & wedding season. Going forward, we are strategically positioned to capture demand through our retail expansion plans, new product launches and marketing campaigns,” said Kataria.
This is the first quarter result of Raymond Lifestyle, which demerged from the parent company Raymond Ltd and listed on the stock exchanges on September 5 this year.
It has a portfolio of brands such as Park Avenue, ColorPlus, Parx, Raymond Made to Measure, Raymond Ready to Wear, Sleepz by Raymond and Ethnix by Raymond amongst others.
Shares of Raymond Lifestyle Ltd on Wednesday morning were trading at Rs 2,030 per scrip on BSE, down 7.67 per cent from the previous close.
Raymond Lifestyle has reported a 69.72 per cent decline in consolidated net profit to Rs 42.18 crore for the second quarter ended September 2024, on account of subdued demand and higher inflationary pressures. It had reported a net profit of Rs 139.33 crore for the July-September quarter a year ago, according to a late night regulatory filing from Raymond Lifestyle, a Raymond Group firm on Tuesday.
Its revenue from operations was down 5.27 per cent to Rs 1,708.26 crore in the September quarter. It was at Rs 1,803.38 crore in the year-ago period.
Total expenses of the Singhania family-promoted firm were down 1.38 per cent to Rs 1,622.95 crore in Q2 FY’25.
Raymond Lifestyle’s total income, which includes other income, was at Rs 1,735.21 crore, down 6.16 per cent.
“Raymond Lifestyle Ltd had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures,” Managing Director Sunil Kataria said.
During the quarter, Raymond Lifestyle’s revenue from the Textile segment, which consists of the branded fabric business of the company, was down 8.48 per cent to Rs 853.52 crore. The decline was “predominantly on account of muted customer demand and ‘Shraadh’ in the month of September. the company said in its earning statement. However, its revenue from ‘Shirting’ fabric, a B2B segment, was up 8.31 per cent to Rs 228.35 crore.
The apparel segment was marginally up around 1 per cent to Rs 441.02 crore in the September quarter. This segment, which has a branded readymade garments business, was driven by new store additions despite subdued consumer demand and challenging market conditions, it added.
Its revenue from ‘Garmenting’ was down 9.28 per cent to Rs 259.60 crore in the September quarter.
The performance of the garment manufacturing business in Q2 FY25 was “impacted by certain delays in shipment dispatches due to logistic challenges,” it said.
During the quarter, Raymond Lifestyle continued its focus on retail expansion and operated 1,592 stores including 129 in Ethnix by Raymond.
“Recent buoyancy has been witnessed at the start of a festive & wedding season. Going forward, we are strategically positioned to capture demand through our retail expansion plans, new product launches and marketing campaigns,” said Kataria.
This is the first quarter result of Raymond Lifestyle, which demerged from the parent company Raymond Ltd and listed on the stock exchanges on September 5 this year.
It has a portfolio of brands such as Park Avenue, ColorPlus, Parx, Raymond Made to Measure, Raymond Ready to Wear, Sleepz by Raymond and Ethnix by Raymond amongst others.
Shares of Raymond Lifestyle Ltd on Wednesday morning were trading at Rs 2,030 per scrip on BSE, down 7.67 per cent from the previous close.
Raymond Lifestyle has reported a 69.72 per cent decline in consolidated net profit to Rs 42.18 crore for the second quarter ended September 2024, on account of subdued demand and higher inflationary pressures. It had reported a net profit of Rs 139.33 crore for the July-September quarter a year ago, according to a late night regulatory filing from Raymond Lifestyle, a Raymond Group firm on Tuesday.
Its revenue from operations was down 5.27 per cent to Rs 1,708.26 crore in the September quarter. It was at Rs 1,803.38 crore in the year-ago period.
Total expenses of the Singhania family-promoted firm were down 1.38 per cent to Rs 1,622.95 crore in Q2 FY’25.
Raymond Lifestyle’s total income, which includes other income, was at Rs 1,735.21 crore, down 6.16 per cent.
“Raymond Lifestyle Ltd had a stable quarterly performance amidst subdued demand, weaker consumer sentiment and higher inflationary pressures,” Managing Director Sunil Kataria said.
During the quarter, Raymond Lifestyle’s revenue from the Textile segment, which consists of the branded fabric business of the company, was down 8.48 per cent to Rs 853.52 crore. The decline was “predominantly on account of muted customer demand and ‘Shraadh’ in the month of September. the company said in its earning statement. However, its revenue from ‘Shirting’ fabric, a B2B segment, was up 8.31 per cent to Rs 228.35 crore.
The apparel segment was marginally up around 1 per cent to Rs 441.02 crore in the September quarter. This segment, which has a branded readymade garments business, was driven by new store additions despite subdued consumer demand and challenging market conditions, it added.
Its revenue from ‘Garmenting’ was down 9.28 per cent to Rs 259.60 crore in the September quarter.
The performance of the garment manufacturing business in Q2 FY25 was “impacted by certain delays in shipment dispatches due to logistic challenges,” it said.
During the quarter, Raymond Lifestyle continued its focus on retail expansion and operated 1,592 stores including 129 in Ethnix by Raymond.
“Recent buoyancy has been witnessed at the start of a festive & wedding season. Going forward, we are strategically positioned to capture demand through our retail expansion plans, new product launches and marketing campaigns,” said Kataria.
This is the first quarter result of Raymond Lifestyle, which demerged from the parent company Raymond Ltd and listed on the stock exchanges on September 5 this year.
It has a portfolio of brands such as Park Avenue, ColorPlus, Parx, Raymond Made to Measure, Raymond Ready to Wear, Sleepz by Raymond and Ethnix by Raymond amongst others.
Shares of Raymond Lifestyle Ltd on Wednesday morning were trading at Rs 2,030 per scrip on BSE, down 7.67 per cent from the previous close.
This Indian man runs Rs 1.10 lakh crore business empire, leads a humble lifestyle, has no mobile phone, owns a car worth only Rs…, not Jimmy Tata
Rama Murthy Thyagarajan founded the Shriram Group in the 1960s. The group which started as a small chit fund company slowly became of the biggest financial giants, with Shriram Finance alone reaching a market valuation of Rs 1.10 lakh crores
Rama Murthy Thyagarajan
New Delhi: The founder of the Shriram Group Rama Murthy Thyagarajan is a billionaire who heads a whopping Rs 1.10 lakh crore business empire. Despite being filthy rich, Rama leads a very simple and normal life. He lives in a modest house, drives a simple car worth Rs 6 lakh, and also avoids using a mobile phone. Today, in this article, we will delve into his lifestyle and understand how one can lead a simple lifestyle despite being super wealthy.
Rama Murthy Thyagarajan Journey:
Rama Murthy Thyagarajan founded the Shriram Group in the 1960s. The group which started as a small chit fund company slowly became of the biggest financial giants, with Shriram Finance alone reaching a market valuation of Rs 1.10 lakh crores. Rama, who earlier used to work in an insurance company, put all his expertise in shaping his new business. He avoided making the same mistakes that other traditional banks were making for a long period. He noticed that traditional banks were often unwilling to serve certain groups, such as truck drivers and low-income earners.
Rama bridged this gap and decided to concentrate on offering loans to these overlooked communities, especially financing commercial vehicles. Soon, his strategy paid off, and the company quickly expanded by meeting the needs of people who had few other options for financial assistance. His business mantra was not to serve the rich but to understand the problems of common man and also provide solutions.
Rama Murthy Thyagarajan Lifestyle:
Rama Murthy Thyagarajan leads a very simple and modest lifestyle. Even after having so much wealth, he prefers to stay away from limelight. People close to him state that he keeps him away from all forms of luxury. He once sold his stake in a USD 750 million company, choosing to donate the money to a trust. This decision highlighted his commitment to philanthropy and his dedication to keeping his life grounded in simplicity rather than luxury.
Rama’s story shows that success is not always the material wealth you own but also the positive impact you are making. His life is a testament to humility, integrity, and the importance of thinking beyond traditional boundaries, offering an inspiring example for others to follow.
