JSW Steel Acquires Odisha-Based Saffron Resources for ₹679 Crore in Expansion Push

JSW Steel Ltd has acquired a 100% equity stake in Saffron Resources Pvt Ltd for ₹679.34 crore, which the company intends to use to strengthen its land bank for future expansion. This public acquisition, which is being reported under SEBI norms, includes 887 acres of land in Odisha, which has been earmarked strategically for JSW’s future projects.

This cash deal involves a holdback amount of ₹40.1 crore, which would be disbursed on fulfillment of certain milestones. No government or regulatory approvals are required for this transaction, and the acquisition will be completed within 60 days, as stated in the conditions specified under the share purchase agreement. As per the company, JSW Steel has made it clear that this transaction does not constitute a related party transaction.

Formed in 2014, Saffron Resources is an entity that is currently involved in land development and has recorded no turnover for the last three fiscal years. The acquisition is part of JSW Steel’s ongoing expansion strategy and adds a crucial asset to the industrial corridor in Eastern India.

As far as finances are concerned, FY25 saw JSW Steel achieving with saleable steel sales 27.79 million tonnes of crude steel as its highest output ever during the corresponding FY25. Sales amounted to ₹1,68,824 crores for the year, operating EBITDA was at ₹22,904 crores, whereas net profit after tax stood at ₹3,491 crores.

In fact, for Q1 FY26, it has announced a consolidated net profit amounting to ₹2,184 crore, up 158% year-on-year, out of which total revenues stood at ₹43,147 crore, led by favorable realizations and lower input costs.

The share price of JSW Steel ended at ₹1,034.40 on 18 July 2025, showing a slight incremental daily. During the past five years, the stock price has seen more than 400% appreciation, with a 10% increase shown this year. Long-term category investors have also benefited with good returns of 11% in the last year and 76.5% in the last three-year period.

JSW Steel is a highly integrated steel producer in India, with major plants located in Karnataka, Maharashtra, Tamil Nadu, Gujarat, and is a part of the diversified JSW Group.