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The company’s retail leased occupancy improved by 120 basis points from a year ago. India’s first listed retail REIT has signed a non-binding term sheet to acquire three Grade-A consumption centres in southern India.

Its board approved the QIP plan at its meeting and also constituted a committee for scouting a partner for the Shipbuilding, Bridges and Defence (SBD) business. Currently, wagons and rail passenger coaches are its core operation and are foraying into railway wheels through a joint venture.

The net profit was also significantly down from the April-June quarter when the company had reported Rs 106.89 crore profit. Revenue from operations was also down to Rs 819.11 crore during July-September from Rs 829.76 crore in the same quarter last year. This denotes a 1.3% fall.

Brent crude futures fell $1.11 to $80.50 a barrel by 1311 GMT and U.S. crude lost $1.20 to $76.17, with both benchmarks registering their lowest levels since late July.

Many economists and analysts expect the U.S. economy to slow in the fourth quarter, which makes further rate hikes less likely and will dent the appeal of the greenback, which has benefited from the relative strength of the United States compared to other major economies.

Chalasani has also held various board positions and has been part of several committees set up by the Reserve Bank of India and the finance ministry. Chalasani has also been the chairman of the Fixed Income Money Market and Derivatives Association of India, and Foreign Exchange Dealers Association of India.

​The Nifty and Sensex gained roughly 9% each during Samvat 2079 so far, while the Nifty Midcap 100 and Small-cap 100 indices returned 30% and 36%, respectively.​

Revenue from operations, however, declined 8% on year to Rs 7,822 crore. The sharp rise in the net profit was primarily due to other income, which rose to Rs 24 crore from Rs 10.5 crore a year ago, besides an improved operational performance.

Its revenue from operations was Rs 6,736.5 crore during the quarter under review. It was Rs 8,282.7 crore in the corresponding period of the previous fiscal.