Crest Ventures Unveils Diverse Portfolio and Project Pipeline in Latest Business Update

Crest Ventures Limited , a Mumbai-based Non-Banking Finance Company (NBFC) listed on the National Stock Exchange and Bombay Stock Exchange, has released a comprehensive business update highlighting its operations across real estate and financial services sectors.

Real Estate Ventures

Crest Ventures has positioned itself as a significant player in the real estate market, with a diverse portfolio of ongoing and upcoming projects across multiple cities in India. The company's real estate investments stand at Rs. 788.52 crores, marking an increase from Rs. 543.11 crores.

Ongoing Projects

The company's ongoing projects showcase a mix of residential and commercial developments:

Project Name	Type	Location	Gross Development Value (crs)	Economic Interest	Expected Completion
Crest 4 Pali Hill	Residential	Pali Hill, Mumbai	300.00	100%	Q2 FY29
Crest Oaks	Residential	Andheri (E), Mumbai	265.00	11% of Gross Revenue + Interest	Q2 FY27
Crest Greens Phase 2 & 3	Township & Residential	Raipur	290.00	50%	Q2 FY29
Crest Park	Township	Bani Park, Jaipur	200.00	3% of Gross Revenue + Interest	Q3 FY26
Crest Uno	Residential	Union Park, Mumbai	100.00	100%	Q4 FY28
Project Hospital	PMC Contract	Worli, Mumbai	30.00	100%	FY 29

Upcoming Projects

Crest Ventures has also outlined a pipeline of upcoming projects:

Project Name	Type	Location	Economic Interest	Gross Development Value (crs)	Estimated Start Date
Crest Pantheon	Residential & Commercial Redevelopment	Dadar (E), Mumbai	100%	2200.00	Q2 FY27
Crest Aspen	Residential	Andheri (E), Mumbai	9% of Revenue	370.00	Q1 FY27
Crest Golfshire	Mixed Use Development	Chembur, Mumbai	15% of Revenue	1850.00	Q4 FY26
Project Saidale	Residential Redevelopment	Breach Candy, Mumbai	76%	1300.00	Q1 FY27
Project Lotus	Residential	Carter Road, Mumbai	50% of DM Fees	2200.00	TBD

Additional projects in Lalbaug and Parel, Mumbai, are also in the pipeline, with details yet to be finalized.

Financial Services

In the financial services sector, Crest Ventures operates through its subsidiaries, including Crest Finserv Limited (CFL) and Crest Capital and Investments Ltd (CCIL).

CFL, formerly known as Tullett Prebon (India) Limited, is an inter-dealer broker operating in Wholesale Debt Markets, Foreign Exchange Markets, Interest Rate Swaps, and Currency Options. It also participates in Mutual Funds distribution.

CCIL is described as a multi-strategy investment firm focused on generating uncorrelated returns across Indian capital markets through systematic and quantitative strategies.

Financial Highlights

The company's consolidated financial data reveals:

Investments in Real Estate at cost increased to Rs. 788.52 crores from Rs. 543.11 crores.
The consolidated ICD/Loan Book (net off debt) stood at Rs. 325.07 crores.
Segment-wise results show:
- Real Estate & Related Activities: (Rs. 3.22 crores)
- Investing, Broking & Financial Activities: Rs. 10.84 crores
- Resulting in a Profit Before Tax of Rs. 5.59 crores

Crest Ventures' business update demonstrates a diverse portfolio across real estate and financial services, with a pipeline of projects in various stages of development. The company's investments and project developments span multiple cities, indicating its presence in the Indian real estate market while maintaining a foothold in financial services.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.12%	-4.86%	-1.28%	-12.73%	-23.06%	+290.33%

Crest Ventures Limited , a diversified financial services company, reported a significant decline in its consolidated net profit for the second quarter ended September 30, 2023.

Financial Performance

The company's consolidated net profit fell 78% to Rs 37.35 crore in Q2 FY2024, compared to Rs 172.43 crore in the same quarter last year. Total revenue decreased to Rs 295.41 crore from Rs 354.65 crore year-over-year.

For the half year ended September 30, 2023, Crest Ventures posted a consolidated net profit of Rs 294.75 crore, down 56.5% from Rs 677.22 crore in H1 FY2024.

Segment Performance

The company operates in three main segments:

Investing & Financial Activities: Revenue of Rs 404.61 crore in H1 FY2024
Broking & Related Activities: Revenue of Rs 134.01 crore
Real Estate & Related Activities: Revenue of Rs 387.87 crore

Balance Sheet Highlights

As of September 30, 2023:

Metric	Value (Rs crore)
Total assets	16,901.17
Net worth	12,618.49

The company's net worth increased from Rs 11,948.10 crore as of March 31, 2023.

Other Key Developments

The Board of Directors has approved a proposal to raise funds through the issuance of Non-Convertible Debentures (NCDs) for an amount not exceeding Rs 100 crore on a private placement basis.

Management Commentary

Vijay Choraria, Managing Director of Crest Ventures Limited, stated, "While our Q2 results reflect the challenging market conditions, we remain focused on our long-term growth strategy. The approval to raise funds through NCDs will provide us with additional capital to pursue strategic opportunities and strengthen our market position."

The company's performance in the coming quarters may depend on the overall economic recovery and its ability to capitalize on growth opportunities across its diverse business segments.