All posts by Neel Achary

London, UK – 14th February 2023 – SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm has entered into a Memorandum of Understanding (MOU) with Yabx, a company incubated by Comviva and part of the Mahindra Group, to address a deep-rooted need for responsible consumer finance in Africa.

Africa has over 700 million mobile wallets, and about 450 million bank accounts but access to formal credit remains severely constrained due to poor credit infrastructure and the slowly evolving risk appetite of financial services players, especially traditional banks. The COVID-19 pandemic has accelerated digitization in the financial sector and created a fertile environment for new and disruptive products to be taken to the market. The partnership between SC Ventures and Yabx is leveraging on this to create unique, Africa-specific products that will increase access of credit to the underbanked across Africa.

Nimble future-ready technology and data analytics combined with a deep understanding of banking will reduce the cost of delivery of innovative credit products, thereby widening inclusion across underserved segments in Africa where it is needed most. Given the scale and the complexity of the opportunity, SC Ventures and Yabx have taken a collaborative approach to jointly address the challenge. Loans will be provided to customers for specific purposes like education and skill development using an innovative data-driven scoring and analytics engine that has been built with rich experience from African markets. These loan products will be initially launched in Uganda and then subsequently expanded to other countries in Africa.

Jiten Arora, Member SC Ventures said, “We are excited at the prospect of using a data-driven, technology-enabled partnership model to serve the underbanked through purpose-driven loans in Africa, a continent for which we have a deep understanding and a strong commitment.”

Manoranjan Mohapatra, Chief Executive Officer at Comviva, commented, “Yabx has seen exponential growth over the past year, and we will continue to invest in its mission to serve millions of consumers and MSMEs in emerging markets who have limited traditional sources of funding available to them.”

Rajat Dayal, CEO at Yabx, said, “We have a lot of synergy with SC Ventures in Africa and together we are uniquely positioned to create a seamless embedded finance experience. This partnership further bridges the gaps in the current market, driving digital innovations and bringing significant benefits to the underserved population of Africa.”

Mumbai, 14th February 2023: Federal Bank today announced the launch of a mint fresh brand campaign, “Rishta Aap Se Hai, Sirf App Se Nahi TM.” The campaign brings alive the Bank’s work ethic – Digital at the Fore, Human at the Core.

This captures many a day that Customers experience in the Bank. In markets of dominant employees of the Bank are a part of celebrations as well as moments of grief of their clients. There are many instances where Customers have experienced the technological ease of transactions as well as the service with sensitivity at branches.

The campaign is inspired by real-life events and that is transposed onto the communication. The ad has been launched in seven languages – Hindi, Marathi, Gujarati, Bengali, Tamil, Kannada, and Malayalam to ensure reach across the country.

*

The multiple narratives of the campaign are representative of the Bank’s robust franchise. On average, a client clocks in above 10 years of relationship, giving the Bank the benefit of a high lifetime value for the Customers. And during this phase, the Bank will be able to participate in the various life stages of both its retail as well as corporate banking customers. Besides, having one of the lowest attrition rates in the industry enhances customer confidence in the Brand.

M V S Murthy, Chief Marketing Officer, Federal Bank said, “Businesses across the globe need the digital chutzpah, or customer experience as it is known. However, increasingly, efficiency in technology needs to be reinforced by go to people, whom you can reach out to at all points in time. The core idea of Rishta Aap Se Hai, Sirf App Se Nahi TM comes from our secret sauce which includes Commitment, Agility, Relationship orientation, Ethics and Sustainability. It is imperative that we need to be ‘Digital At The Fore, Human At The Core’. This campaign is representative of how we conduct ourselves as a team. We have unified our physical and digital spaces with this approach.”

The campaign will be rolled out across a variety of platforms, including television, digital, radio, outdoor and social media. Community events will bring the campaign closer to the branches.

Bengaluru (India), 14th February 2023: CMR University (CMRU), a leading university in Bengaluru with a vision ‘To nurture creative thinkers who will drive positive global change’ has announced the launch of a Global Open Innovation Challenge – CAUSE 2023 as a part of their flagship event ‘Design Thinking Day’ (DTD) to be held on Friday, 17 March 2023 at the Lakeside Campus, Bengaluru, India. This challenge will be hosted by the Department of Common Core Curriculum (DCCC) and is aimed to create an international platform to encourage students to come up with innovative solutions to real-world problems aligned with the UN Sustainable Development Goals (SDGs) using the design thinking process. Through ‘Cause 2023’, CMR University invites students from across the globe to think about problems that they see locally in their communities and cities for which they could come up with sustainable solutions that have a global impact. The final date to register for ‘Cause 2023’ is Friday, 24 February 2023 (Click here to register).

The competition has two main categories for student participation: K-12 institutions and higher educational institutions. Any student from grades 5 to 12 and any student pursuing their undergraduate/postgraduate program, from anywhere in the world can participate. This competition is however not open to working professionals. Students can participate in teams of a minimum of 2 to a maximum of 6 members on the ‘Cause 2023’ website.

“Through CMR University’s Common Core Curriculum, we intend to prepare our students for a future they do not know, for jobs that do not exist today, and for all of life’s challenges. We firmly believe that the most important leadership competency required to thrive in the 21 century is problem-solving. We want our flagship annual event ‘Design Thinking Day’ to be an international platform for students to come together, collaborate, and create sustainable solutions to human-centric real-world problems that they deeply care about and celebrate the spirit of innovation.” said Dr. Tristha Ramamurthy, Provost of CMR University.

Students can register for the challenge before Friday, 24 February 2023. The final date for submitting their projects (Solution Pitch) is Tuesday, 28 February 2023. Selected teams will get a chance to showcase their projects on Design Thinking Day, where they will present and interact with the Jury. Winners from this round will further get an opportunity to pitch their idea to the Superstar Jury. The selected teams will then enter ‘Ground Zero’, which is the finale of the ‘Cause 2023’ Global Innovation Challenge. Winners will be awarded a cash prize from a prize pool of over INR. 1,00,000 / USD 1,500. The Jury will comprise global innovators, changemakers, experts, and venture funders, and industry leaders with whom the participants will have an opportunity to network and get feedback.

Dr. Sanjay Agarwala, Director – Professional Services, Head – Orthopaedics & Traumatology at P. D. Hinduja Hospital

Since the inception of Covid-19, infectious disease has been known to cause problems for the general public across the globe. One such problem has been associated with Long Covid where the blood supply to various parts of the body becomes poor and leads to Osteonecrosis.

Patients with Covid 19 are given corticosteroids for its management, but according to recent studies, lower threshold dose of steroids makes patients much more susceptible to suffering from Osteonecrosis or Avascular Necrosis (AVN), known for the death of bone tissue due to a lack of blood supply.

Avascular Necrosis (AVN) is known as the death of bone tissue caused due to the lack of blood supply. The condition can lead to tiny breaks in the bone and cause the bone to collapse. This process usually takes months to years to occur but leads to the need of joint-replacement surgeries.

When it comes to long covid, while patients were required to opt for surgical treatment methods like joint replacement surgeries in the past for these problems we have through various studies and research developed bisphosphonate therapy which can eliminate the need of surgical treatment if detected early.

The pandemic caused due to Covid 19 has been a wake-up call for the global healthcare system and while we are out of danger for the most part, Covid 19 is still around and very much dangerous. Patients suffering from Covid 19 are given corticosteroids which help in the management of the virus but after recovery, these patients start to experience pain in their joints.

MRIs have shown Osteonecrosis in these cases where patients require joint-replacement surgery for treatment but with Bisphosphonate therapy, patients can now be treated even without surgical procedure. The therapy helps in symptoms receding and the condition reversal.

Osteonecrosis of the hip is successfully treatable with Dr Agarwala‘s well researched bisphophonate therapy, which is different from osteoporosis management. Recent publications in international peer reviewed journals have established the validity of his long-standing research results. This is a Made in India, for the World Treatment, strategy.

Patients, who experience pain in the hip or thigh post covid recovery, are required to opt for MRIs as early as possible in order to diagnose AVN. Patients with early AVN (Ficat-Arlet Stage 1 and 2), can be successfully treated with Bisphosphonate therapy. While corticosteroids are lifesaving in the management of Covid 19, it is important to follow up if one experiences pain in the joints.

Early detection can lead to favorable outcomes for patients but the fight against Covid has been a long and tedious one and it still isn’t over. Therefore, it is still important to be aware of these conditions and never neglect them in case of post-recovery from covid. The general public at large should still follow covid norms in order to deal with these ailments.

ᐧ
2

Mumbai, 14th February 2023: Sunteck Realty, a Mumbai-based premium luxury real estate developer, organized a Healthcare Camp at Naigaon to observe National Deworming Day in collaboration with Human Welfare Charitable Trust and Samhita Social ventures. The initiative is a part of Sunteck Realty’s pioneering ESG project, Sunteck Saathi’s community engagement program. The goal of this medical camp was to deliver preventive healthcare to over 200 underprivileged children in a shelter home. The healthcare camp included general physician examinations, dental examinations, and eye examinations. The camp was organized in the vicinity of the Naigaon shelter home with a specialty team of doctors and allied staff.

Anupma Khetan, Customer Experience Evangelist for Sunteck Realty, commented on the project by saying, “Children are the future of the nation; therefore, they need to be cared for. Given that they will be the ones to lead India toward the path of success, children should live in an environment that is both healthy and environmentally sustainable. So, in light of our nation’s bright future, this is our company’s small contribution.”

The United Nations Global Compact and the Government of India have recognized HWCT (Human Welfare Charitable Trust), which primarily focuses on education and skill development for children, youth, and women in Mumbai and rural Maharashtra. Kalpesh Kabra, Founder and Trustee of HWCT India Foundation said, “We are grateful that Sunteck Realty has supported our children receive medical check-ups from specialized doctors, dental surgeons, and ophthalmologists.

Priya Naik, Founder, and CEO at Samhita Social Ventures say Proactive healthcare screening is the first step towards good health and well-being. Identifying healthcare issues during the formative years of children is critical since it directly impacts their cognitive abilities. This intervention is a stepping stone towards improving the health of the future of our country.

Sunteck Realty, in association with Human Welfare Charitable Trust also organized the Information, Education, and Communication (IEC) session on the importance of good nutrition and a balanced diet for children. Mothers and other kid guardians were invited to the session in order to improve the uptake of this information. A therapeutic link will also be established for those detected with ailments or issues.

Delhi, February 14, 2023: Intents Mobi, a Gurgaon-based geospatial intelligence startup today announced that it has raised Rs 1.5 CR.  The funding was raised on “The Barbershop with Shantanu” helmed by Shantanu Deshpande, Founder – Of the Bombay Shaving Company. The round saw participation from prominent executives from various organizations.

Founded by Tabrez Alam, Naresh Kumar Kachhi, Balasubramaniam S, and Prakash Velusamy, the company is now 19 people strong with 13 members purely focussing on technology development. With a small team, the company has been able to create AI-based technology to process large-scale data. Their engines gather and process road data worth more than 4.5 crore kilometers per day with more than 5 terabytes of image data processed each month. The company utilizes a network of ‘Scouts’ which is a gig economy of over 900,000 users who contribute to the data generation for location intelligence.

Speaking on the occasion, Tabrez Alam, Founder – of Intents Mobi, said, “The new funds will be utilized to ensure the continual growth of products. We shall invest in the two major aspects of the product, which are data and solutions. With this round, we expect to launch 2 new products that are aimed at making location intelligence accessible to Market Research and Fleet Management companies”

Elaborating, Shantanu Deshpande said, ‘Tabrez and Naresh are building a disruptive technology company out of India and it is very exciting for us. They have credibility as founders, knowledge of the space, and drive. We are thrilled to partner with them on this journey.’

Intents Mobi will deploy the current fundraising to ensure an ongoing pace in its continual growth. The company is also looking at raising 3 million dollars for expedited growth. Intents Mobi has some of the biggest names in various industries as their clients, including Here Maps, TomTom, and Honda among others.

Bengaluru, 14th February 2023: Premier global nutrition company, Herbalife Nutrition India, is partnering with the world’s No.3 para-badminton athlete, Palak Kohli as a nutrition sponsor.

Kohli’s exceptional athletic skills, positive spirit, and unwavering determination embody the values of Herbalife Nutrition and represent the brand’s mission of empowering people to lead active and fulfilling lives.

Palak has established a strong name in the world of sports, winning numerous accolades and titles in Para-Badminton. Despite facing several challenges and obstacles in her journey, she continues to inspire others with her incredible resilience and commitment to the sport.

With more than 150 sponsored teams and athletes around the world, Herbalife Nutrition has a proven track record of working with athletes, using the science and innovation within its products and the support and knowledge of its experts to help them optimize their performance.

Currently, Palak Kohli is world no.3 in Women’s doubles SL3–SU5 in para-badminton in the BWF (Badminton World Federation) rankings. She was the youngest para-badminton athlete in the world and the first and only para-badminton athlete from India to qualify for the Tokyo Paralympics in three events – singles, doubles & mixed doubles – finishing 4th in mixed doubles.

“We are thrilled to welcome Palak Kohli to the Herbalife Nutrition family,” said Ajay Khanna, Senior Vice President and Managing Director of Herbalife Nutrition India. “Her dedication to the sport and her belief in the importance of good nutrition makes her an ideal partner for our brand. We look forward to working with her to support her sporting ambitions and furthering our mission of raising awareness of the importance of good nutrition and a healthy active lifestyle.”

“I am excited and honored to partner with Herbalife Nutrition India as my nutrition sponsor and be part of a team of sporting legends who share the same passion,” said Palak Kohli. “It’s great to be associated with a brand committed to helping sportspeople of all levels reach their full potential through good nutrition. I believe that this association with Herbalife Nutrition India will help me deliver my best performance and inspire others to live a healthy and active lifestyle.”

In India, Palak Kohli is the sixth Indian athlete and the first para-athlete to join the Herbalife Nutrition family. She follows in the footsteps of fellow Indian sporting legends, Virat Kohli, Mary Kom, Lakshya Sen, Manika Batra, and Smriti Mandhana.

Delhi, February 14, 2023: Orchids The International School (OIS), the leading K12 school chain in India, has announced the launch of its first branch in Delhi at Dwarka 19. To be known as Orchids The International School, the institute is built on a vast area of 2.65 acres and has a student strength of 1000+. A residential school with hostel facilities for both girls and boys, the school comes with the best-in-class amenities where students can explore and hone their skills in various activities, including Arts & Crafts, Music, Dance, Instruments, Theatre, Public Speaking, Personality Development, and many more.

The school has classes from Nursery to Grade XII and will follow the CBSE curriculum. Orchids The International School, Dwarka 19, will focus on experiential learning, STEAM, and multiple intelligence pedagogy, with a significant focus on project-based learning and physical education. The school will also provide special attention for children with special needs with the help of shadow teachers to show diversity and inclusion and specifically designed programs for them.

“We are focused on providing Indian education with an international approach. With the continuous evolution of the education sector, it becomes important to ensure that children are future-ready. Orchids The International School offers a unique curriculum that includes Horticulture, Public Speaking, Robotics, Financial Literacy Program, and Astronomy, along with being the best in class infrastructure. The focus on extracurricular activities ensures the holistic development of all our students while upholding their moral values. We are happy to begin our new school in the city, and we look forward to shaping young minds and training them for excellence”, said Ms. Rachna Juneja, Principal – Orchids The International School, Dwarka Sector 19 – Delhi.

The campus will provide best-in-class sports facilities to students who are sports enthusiasts, including Basketball Court, Football Ground, Volleyball Court, Skating Rink, Table Tennis Court, Swimming Pool, Archery, Athletics Track, Board Games, and Taekwondo. The emergency facilities, including hospitals, are in close proximity to ensure the safety and security of all the students.

New Delhi, 14 February 2023.

Bikaner House in collaboration with India Art Fair 2023 as a parallel venue partner positioned Bikaner House as a premier art & culture destination dedicated to stimulating interest towards the preservation of heritage and promotion of Art & culture. As a unique initiative, this partnership created a synergy between the events organized by IAF 2023 and Bikaner House.

Speaking about Bikaner house, the venue partner of India Art Fair 2023, Smt. Shubhra Singh, Additional Chief Secretary, and Chief Resident Commissioner, of Bikaner House, commented, “With the inspiration of Chief Minister Mr. Ashok Gehlot, Bikaner House is being developed as a hub of art, heritage, and culture, so we have collaborated with IAF 2023 to connect the bikaner house with Art and Culture world. She said that On the third day of the ‘Bikaner House Dialogues’ series, the discussion focused on Raja Ravi Varma’s skill as an artist, the life and times of India’s master artist, and preserving the legacy of a visionary who democratized art.
The session was moderated by Archana Shenoy and the speakers included Rupika Chawla, well-known author, conservator, and restorer, along with historian and author Manu S. Pillai and Gitanjali Maini, Managing Trustee & CEO, Raja Ravi Varma Heritage Foundation.

The speakers focused on the artist’s work and threw new light on some relevant facts and new paintings that were discovered by the Foundation during the course of its research.

On the concluding day of the ‘Bikaner House Dialogues’ series, the topic was ‘Reimagining Heritage in the context of Cultural Diplomacy’. The session was moderated by Mr. Dhiraj Srivastava, Resident Commissioner, Bikaner House. The speakers included H.E Andre Aranha Correa Do Lago, Ambassador of Brazil, H.E Muhamed Cengic, Ambassador of Bosnia & Herzegovina, and Mateja Vodeb Ghosh, Ambassador of the Republic of Slovenia.

The Dialogue series also included an exclusive photography exhibition titled ‘14 COUPLETS- We’re not separate races. Overall, the Bikaner House event was well attended by a new generation of art lovers leading to a phenomenal response ending on a successful note.
=================================================================

Mumbai, February 14, 2023: Capacit’e Infraprojects Limited (“Company”), a fast-growing construction company providing end-to-end services for residential, commercial, and Institutional buildings with a presence in Mumbai Metropolitan Region (MMR), Gandhinagar, Pune, Goa, Chennai, National Capital Region (NCR), Kochi, Hyderabad, and Bengaluru today announced its Unaudited Financial results for the quarter and nine months ended December 31, 2022.

Key Financial Highlights are as follows:

Performance highlights for Q3 FY23

Revenue from Operations for Q3 FY23 grew by 21% to ₹ 443 crores as compared to ₹ 367 crores in Q3 FY22.

EBIDTA for Q3 FY23 grew by 40% to ₹ 90 crores as compared to ₹ 64 crores in Q3 FY22. EBIDTA margin for Q3 FY23 stood at 20.1% as compared to 17.2% in Q3 FY22.

EBIT for Q3 FY23 grew by 51% to ₹ 56 crores as compared to ₹ 37 crores in Q3 FY22. EBIDTA margin for Q3 FY23 stood at 12.4% as compared to 9,9% in Q3 FY22.

PBT for Q3 FY23 grew by 62% to ₹ 31 crores as compared to ₹ 19 crores in Q3 FY22. PBT margin for Q3 FY23 stood at 6.9% as compared to 5.1% in Q3 FY22.

PAT for Q3 FY23 grew by 15% to ₹ 23 crores as compared to ₹ 14 crores in Q3 FY22. PAT margin for Q3 FY23 stood at 5.1% as compared to 3.7% in Q3 FY22.

Performance highlights for 9M FY23

Revenue from Operations for 9M FY23 grew by 36% to ₹ 1,352 crores as compared to ₹ 993 crores in 9M FY22.

EBIDTA for 9M FY23 grew by 59% to ₹ 275 crores as compared to ₹ 173 crores in 9M FY22. EBIDTA margin for 9M FY23 stood at 20.2% as compared to 17.3% in 9M FY22.

EBIT for 9M FY23 grew by 66% to ₹ 166 crores as compared to ₹ 100 crores in 9M FY22. EBIT margin for 9M FY23 stood at 12.0% as compared to 10.0% in 9M FY22.

PBT for 9M FY23 grew by 97% to ₹ 99 crores as compared to ₹ 50 crores in 9M FY22. PBT margin for 9M FY23 stood at 7.3% as compared to 5.0% in 9M FY22.

PAT for 9M FY23 grew by 98% to ₹ 73 crores as compared to ₹ 37 crores in 9M FY22. PAT margin for 9M FY23 stood at 5.4% as compared to 3.7% in 9M FY22.

Gross Debt stood at ₹ 387 crores with Gross Debt to Equity at 0.37x.

Net Debt stood at ₹ 214 crores with Net Debt to Equity at 0.20x

The working capital cycle (excluding retention) improved from 120 days in March 2022 to 98 days in December 2022, indicating a positive trend. We are focused on a meaningful reduction in working capital cycle during the current financial year.

The Company continued its focus on increasing execution across projects.

Order book on a standalone basis stood at ₹ 9,764 crores as of December 31, 2022. Public sector accounts for 67% while the private sector accounts for 33% of the total order book.

Other Key Updates:

•  Awarded project worth ₹ 3,313 crores (excluding GST) in 9M FY23, including the work amounting to ₹ 1,249 for MHADA BDD project, awarded by TPL – CIL JV.
•  Appeals against the Income-tax block assessment orders have been completed for the period upto March 2020. All the disallowances made by the department have been decided in favor of the Company. As a result, the contingent liability relating to income tax demand amounting to ₹ 31.15 crores as disclosed in Annual Report 2022, will no longer be required.
•  Godrej Reality has come in as a developer along with DB Reality for the One Mahalaxmi project (earlier Radius – DB Reality project). The Company has entered into a settlement agreement for ₹ 11.33 crores. Based on this, the client has released the 1st Tranche of ₹ 6.0 crores in the month of January 2023 and will be releasing the balance amount before the end of the Financial Year 2023. The Company is expecting recoveries from other slow-moving debtors as well.

On the performance Mr. Rohit Katyal, Executive Director & CFO commented, “Our progress in the quarter and nine months of the year under review reflects our resilience amid a challenging macro-economic environment.

With the healthy order book and sustained order inflow and our expertise in executing and delivering projects on time, we are optimistic that we shall witness healthy and sustainable growth. With a strong foundation in place, we enhanced our capabilities to capitalize on emerging opportunities. We will continue to expand our reach, invest in our talent pool and unlock efficiencies to deliver a robust performance year after year.

Our judicious efforts have enabled us to become an end-to-end construction service provider with a reputation for delivering impeccable quality and ensuring the timely execution of projects. Backed by a growing customer base and the dedication to hone our expertise further with the implementation of new-age processes, we are on the right track to deliver growth with prudence.

The strong impetus from the Government for the housing sector in the recent budget announcement and favorable policies are very positive for the sector and the overall economy.

The project awarding has seen an uptick and is likely to gain further momentum in the coming quarters. We are confident of achieving our guided order booking for the current financial year. Our robust execution capabilities coupled with strong repository of asset base enabling efficient execution reflected in strong revenue growth.”