All posts by Rabindra

Hyderabad: 17th May 2024 DEESAWALA RUBBER INDUSTRIES, a leading manufacturer of premium quality rubber products such as rubber sealing rings, rubber gaskets, and other rubber products, announced a significant expansion as part of its strategic growth trajectory. The company is setting up its 4th manufacturing unit, spanning 40,000 square feet, at Kallakal, near Medchal in Hyderabad. This facility is equipped with state-of-the-art machinery and a lab testing facility, which will enhance production capacity from about 7-8 tonnes per day to 25 tonnes per day. Additionally, the company has acquired an adjacent unit, scheduled to be operational by 2025.

Established in 1996 by Mr. Huned and Mr. Shabber Deesawala, Deesawala Rubber Industries has always aimed to deliver technically innovative, customized rubber solutions for global infrastructure. The company provides elastomeric bearing pads for road and bridge projects, rubber speed breakers for real estate, pipe gaskets for ductile iron, UPVC, and concrete pipe manufacturers, rubber extrusion profiles for automobile, aviation, and industrial use, expansion joints for infrastructure applications, rail pads for railway track projects, and silicon products for the pharmaceutical industry. The company had 3 manufacturing units at Bala Nagar, Hyderabad, catering to the present requirements.

Mr. Huned Deesawala, Co-Founder and Managing Director of Deesawala Rubber Industries, commented, “As India is embarking on a journey towards becoming the 3rd largest economy in the world, there is an increased impetus on rail, road, aviation, and other infrastructure projects. Deesawala Rubber manufactures products essential in each of these infrastructure projects, and the mega boost in infra-development provides us with an excellent opportunity to grow. Moreover, the Government of India has embarked on the mission ‘Har Ghar Nal,’ which will require the laying of a massive network of water pipelines across the country. Our gaskets that are used as pipe seals are crucial for the successful execution of this project. The present expansion underscores our unwavering commitment to providing products of international standards, while customizing and catering to the evolving needs of our customers.”

Adding to this, Mr. Murtaza Deesawala, Executive Director of Deesawala Rubber Industries, added, “We are excited about the present expansion of our capacity and have a very healthy order book to ensure 100% capacity utilization by the end of this year. In keeping with the burgeoning demand for our product line, we have also identified an adjacent unit (5th) with an area of around 40,000 square feet. This unit should be operational by the year 2025. We have also setup our offices in Pune, Bengaluru and Chennai to expand market presence. Our products are certified and approved by esteemed organizations such as BIS, WRAS and RDSO, giving us an opportunity to expand our footprints in Europe and the Middle East. Very soon, we will be setting up our office in Dubai to expand our global presence.”

The company’s product portfolio encompasses a diverse range of rubber solutions, including push gaskets for pipes, elastomeric bearing pads for bridges and metro rail projects, PVC water stoppers, swellable bars for waterproofing and infra industry, expansion joint filler boards, rubber speed breakers, and pillar guards for the construction industry. In addition to the existing offerings, Deesawala Rubber Industries is committed to continuous innovation. New product developments are on the horizon, including rubber sheet manufacturing, PVC water stoppers, rubber profiles, and adhesives tailored for the woodwork and construction industries.

Greater Noida, India, 17th May 2024 – Coforge Limited (NSE: COFORGE), a global digital services and solutions provider announced a strategic partnership with Fiorano to introduce ISO 20022 Compliance as a Service (ICaaS). As of March 2023, ISO 20022 has been live on the SWIFT cross-border payments network. Multiple domestic market infrastructures are also making substantial progress toward the complete adoption of this new payment message standard by the end of 2025. The migration is not just a step towards enhanced efficiency but a foundational pillar in the burgeoning world of digital currencies. However, migrating to ISO 20022’s unique requirements can be complex. The ICaaS offering from Coforge & Fiorano is a comprehensive solution designed to streamline the migration process to ISO 20022 compliance, providing those organizations impacted, with a seamless and cost-effective transition.

The comprehensive, end-to-end ISO 20022 Compliance as a Service (ICaaS) solution covers crucial elements including ISO 20022 Process Consulting, Translation, Structured Data, Data Truncation Management, and Quality Assurance, ensuring a seamless and cost-effective transition for financial institutions at any stage of their migration journey. The services offered by ICaaS include specialized SWIFT-focused consulting, advanced migration tools, ISO 20022 data products, and robust end-to-end testing services, tailored to meet the unique needs of each institution.

Gautam Samanta, President and Global Leader, Banking and Financial Services, Coforge, said, “We believe the implications of ISO 20022 go beyond mere cross-border and high-value payments; it permeates critical financial domains, influencing Securities and Trade Finance. The ICaaS solution developed by Coforge and Fiorano is not just a service; it’s a commitment to empowering financial institutions with the knowledge and tools necessary for informed decision-making in the realm of structured payments.”

Biju Suresh Babu, Managing Director Banking & Financial Services, Fiorano, said “ICaaS stands as a distinctive solution poised to expedite the adoption of ISO 20022 in the financial ecosystem by bringing together tools, infrastructure, and expertise into a single, easily accessible platform. Leveraging Coforge’s extensive experience with central and commercial banks, coupled with Fiorano’s expertise in cloud-native integration, payments orchestration and ISO 20022 data, our primary focus is to guide financial institutions through a seamless transition, minimizing disruptions to their systems.”

ICaaS is being made available at a point when global central banks and regulators are increasingly seeking the use of structured data (including structured postal addresses) to align with standardization and payment harmonization efforts, including the G20 cross-border payments roadmap.

Edward Davies, Senior Vice President, Coforge said, “While ISO 20022 brings a lot of value in terms of enhanced data quality, efficiency and overall customer experience, the regulatory compliance deadline of 2025 & 2026 will force a lot of banks to go for quick-fix measures. At the start of 2023, we committed to our banking customers and have invested a lot in coming out with a packaged solution to fast-track this journey in a much more economical and robust manner. Fiorano’s ISO 20022 SWIFT-certified accelerator sits at the heart of it. We are thrilled with this partnership and much look forward to supporting our joint customers across the globe.”

Coforge in partnership with Fiorano has adopted a transformative approach to scale and expand. To reduce the overall complexity, Coforge has developed a comprehensive ISO 20022 testing scenario repository improving efficiency up to 50%, and reducing the time taken to scale capabilities across markets and channels.

I7th May 2024: One of the most popular, versatile, and widely loved content creators, who effortlessly experiments between comedy and beauty, Ankush Bahuguna, floored the audience with his first look for his debut at the 77th Cannes Festival. Representing India at the esteemed film festival, Ankush chose to pay homage to the Indian Heritage textile on foreign soil through the language he speaks fluently- fashion.

Bahuguna was seen in an ensemble by celebrated Indian designer and founder of Torani Tribe, Karan Torani, styled by the ace celebrity stylist Akshay Tyagi. The ensemble exudes a young heritage vibe, and consists of an embroidered scarf with floral imprints. This was paired with a leopard-printed cape-cum-overcoat over a well-coordinated purple tunic and trousers. This riveting look was further elevated with a pair of boots. To compliment the ensemble, Ankush has added an ombré touch to his eyebrows.

Ankush Bahuguna’s presence at the Cannes Film Festival has created a buzz as he is the First Male Beauty Content Creator to represent India on a global platform. So, it was only fitting to make his debut at the French Riviera by paying an ode to rich Indian handlooms.

New Delhi, 17th May 2024: As the summer sun shines bright, Pacific Group is thrilled to announce an exhilarating array of Summer Camps at its malls located across Delhi, Faridabad, and Dehradun. With a plethora of exciting and engaging activities, these camps promise an environment full of fun, learning, and adventure for children of all ages. Offering a diverse range of activities tailored to ignite creativity, foster friendships, and spark joy, Pacific Malls gear up to provide a fun and memorable summer holiday.

Pacific NSP brings a thrilling Summer Camp starting from May 17 to June 9, 2024. The camp will comprise four activities: a science and Fun Zone, an Art and Craft Zone, a Recycle Zone, and DIY Workshops, offering kids a fun-filled experience.

From May 17 to June 2, 2024, Pacific Tagore Garden to offer a blend of fun, play, and learning activities for children of all ages. The camp’s four theme-based zones—Recycle Zone, Art Zone, Science Zone, and Experiential Zone—will inspire curiosity and creativity, providing an enriching experience for young minds.

Pacific D21 Mall, in collaboration with Kabuliwala, will present a vibrant array of activities for children from May 17 to June 9, 2024. Activities will include Storytelling, Madhubani Painting, Origami, Clay Art, Puppetry, Arts and Crafts, Creative Writing, Science Fun, Pottery, and a Doodle Wall. These engaging sessions are designed to foster creativity and promote environmental awareness among young participants.

From May 17 to May 31, 2024, Pacific Jasola will offer an exciting summer camp adventure. Highlights include Science of Wizards 3.0, where kids can explore spin art, thread art, cyanotype photography, and more. Additionally, the Daak Room will feature a post-office set up in the mall atrium, with a letter-writing contest on various topics to engage kids.

Pacific Mall Dehradun will run the “Pacific ki Paathshala Chapter 4” summer camp from May 17 to May 26, 2024. The camp will have a dedicated activity area for kids and organize a role-play center comprising a police station, hospital, fossil excavation site, paint wall, and daily crafts workshop.

From May 18 to June 30, 2024, The Mall of Faridabad will host the “Dino Adventure World” theme-based summer camp from May 18 to June 30, 2024. The camp will comprise engaging creative activities every day, such as make your own Dino Fossil, Dinosaur-themed Origami, Dinosaur Fossil rocks, Dinosaur candle making, Dinosaur puppets, fridge magnets, and more activities promoting creativity and intellectual growth of kids.

Abhishek Bansal, Executive Director of Pacific Group said, “We’re delighted to launch our annual Summer Camps, where kids can enhance their creativity, make new friends, and embark on thrilling adventures. We envision providing a safe and stimulating environment where kids can learn, explore, and have fun while making memories. Our camps are led by experienced and certified instructors, assuring parents their children will be in good hands.”

The Summer Camps at Pacific Malls are about entertainment and fostering learning and growth among children. Each activity is thoughtfully curated to promote creativity, teamwork, and critical thinking skills.

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By Dr Sri Harika Bonam Consultant Obstetrician & Gynaecologist & Lap Surgeon, Apollo Cradle & Children’s Hospital, Jubilee Hills.

Fibroids are non-cancerous growths that develop in or around the womb (uterus). They are made up of muscle and fibrous tissue and are also known as uterine myomas or leiomyomas. 60-70% of women develop fibroids in their lifetime or by the age of 50. Half of them do not have any symptoms. Uterine Fibroid is also the leading cause of hysterectomy in our country.

The size of the fibroid can vary from a few mms to up to 20-30 cm. They can be located in the lining of the womb, within the wall, in the outer layer of the womb or in the broad ligament. Depending on the size, location, and rapidity of the growth they can present with a wide variety of symptoms.

They include: –

• · heavy bleeding during periods
• · tummy (abdominal) pain during periods or in between periods
• · lower back pain
• · Frequent urination
• · Difficulty in passing stools.
• · pain or discomfort during sex.
• · Irregular intermenstrual bleeding

In rare cases, it can cause difficulty in conceiving.

Why do fibroids develop?

The exact cause is unknown, but they have been linked to the hormone oestrogen, the female reproductive hormone produced by the ovaries.

Oestrogen levels are at their highest in the reproductive age of 16 to 50 years, and so are the fibroids.

They tend to shrink when oestrogen levels are low, such as after menopause. It’s also thought they occur more often in overweight/ obese because being overweight increases the level of oestrogen in the body.

Fibroids are thought to develop more frequently in women of African-Caribbean origin. Studies also suggest that there is a possible genetic cause.

Who needs treatment?

Treatment may not be necessary if you do not have any symptoms, or if you only have minor symptoms that are not significantly affecting your everyday activities.

Fibroids often shrink after menopause and symptoms will disappear gradually.

What are the treatment options for fibroids?

Treatment depends on the age; type and severity of symptoms; location, number and size of fibroids; fertility concerns; response to any previous treatments & patient’s wishes.

1st line is medical; which could be no hormonal or hormonal, that reduces the bleeding/shrinks the fibroids. Failing which, further options would be non-surgical and surgical options.

Non-surgical options include MIRENA, Uterine artery embolization, MRI MRI-guided procedures.

MIRENA – a small ‘T’ shaped plastic device that releases progesterone hormone slowly inside the womb which gradually shrinks the fibroid size and gives symptomatic relief. MIRENA also has the benefit of acting as a contraceptive method. Side effects include irregular bleeding, spotting & up to 1/3rd may not respond and may end up requiring surgery.

Uterine artery embolization (UAE) is an alternative to surgery & may be recommended for women with large fibroids. It is a procedure done under local anaesthesia, in which blood vessels that supply the fibroids are blocked with gel/foam-like particles causing them to shrink. Side effects include excess vaginal discharge, and pain … can last up to a few days to weeks post-procedure and up to 1/5th may not have symptomatic relief, necessitating surgery on a later date.

MRI-guided procedures like focused ultrasound or percutaneous laser ablation are relatively new techniques for treating fibroids, and the long-term benefits and risks are unknown.

What are the surgical options?

Surgery may be considered if symptoms are severe and have not responded to medical management. The two main types of surgery done for fibroids are: –

1) myomectomy – a procedure to remove the fibroid and suture the womb,

2) hysterectomy – removal of womb.

Which one to be decided, depends on multiple factors like woman’s age; number, site and size of fibroids; family completed or not; any associated medical problems and women’s choices after counselling pros and cons of both procedures.

Either of the procedures can be done by the keyhole method(laparoscopy) of surgery which has many advantages over conventional open surgery, like less blood loss, less complications, early recovery, early discharge and better satisfaction.

“I got 99 problems but having a uterus ain’t one”.

Does Fibroids in pregnancy cause any complications?

Women with fibroids in pregnancy may experience tummy (abdominal) pain during pregnancy, and there’s a risk of preterm labour.

If large fibroids block the vagina, a caesarean section might be necessary. Women with fibroids also tend to have excess bleeding after delivery or during caesarean section.

New Delhi, 17th May 2024: The International Journal of Community Medicine and Public Health (IJCMPH) has recently published research on Sightsavers India’s RAAHI Programme. RAAHI (National Truckers Eye Health Programme) stands as one of the biggest eye health initiatives in India, catering to the needs of the overworked truck drivers’ community. With over 9 million truck drivers in India playing a significant role in freight transportation, addressing their unmet health needs, particularly concerning vision, has become imperative.

The publication of this research in the International Journal of Community Medicine and Public Health (IJCMPH) signifies a significant milestone. Peer-reviewed journals like IJCMPH undergo stringent evaluation processes by field experts, ensuring the credibility and quality of the research presented.

Through a mixed-methods approach, this research delves into the program’s achievements, challenges, and lessons learned. Having screened over 540,000 beneficiaries across 54 locations, RAAHI has significantly contributed to raising awareness about prevalent health conditions and providing essential eye care services. It primarily focuses on truck drivers, addressing their unmet eye health needs and raising awareness about prevalent health conditions.

Feedback from beneficiaries highlighted overall satisfaction with RAAHI services, emphasizing the program’s structured approach and immediate access to quality spectacles. Beneficiaries found the registration, screening, and spectacle distribution processes quick and easy.

The program’s success in providing essential eye care services to truck drivers is crucial for road safety. Correcting even low refractive errors in truckers can help minimize adverse events, highlighting the importance of initiatives like RAAHI in ensuring safe driving practices.

“We are pleased to share the findings of our research, which represents the significance of the RAAHI programme in addressing the unmet eye health needs of truck drivers in India. Our comprehensive study reveals the impact of RAAHI in screening beneficiaries, providing essential eye care services, and raising awareness about the importance of eye health in improving road safety.

Through collaborative efforts and sustained initiatives like RAAHI, we aim to continue enhancing the well-being of truck drivers and promoting road safety across India’s transportation networks. We extend our gratitude to all stakeholders, including implementing partners and funders, for their support in making RAAHI a success.”— Authors behind the Research (Dr. Ananta Basudev Sahu, Jatin Tiwari, Prasannakumar P. N., R. N. Mohanty)

New Delhi, 17th May 2024- In a bold step towards a sustainable future, The Bahubali Gulabchand Foundation, in partnership with Walchand Plus, celebrates the early triumphs of ‘Project Swayam’—an innovative initiative aimed at cultivating a skilled youth workforce for India’s burgeoning green energy sector.

By empowering young people with green skills and awareness, the Walchand Foundation endeavors to cultivate environmentally conscious individuals who can develop innovative solutions for environmental challenges. This initiative actively shapes future leaders and guides us toward a sustainable future.

Under the Project Swayam initiative, 710 motivated individuals from diverse corners of the nation have completed specialized training, preparing them for careers in solar technology and beyond. From the bustling streets of Bangalore to the serene landscapes of Nandurbar, these beneficiaries have embraced the journey towards green innovation.

“This project is not just about education; it’s about empowerment,” remarked Ms. Pallavi Jha, MD and Chairperson, of Walchand PeopleFirst Limited and Dale Carnegie Training India. “We’re equipping our youth with the tools they need to succeed in an industry that holds the key to a sustainable future. This initiative underscores the importance of investing in human capital. By nurturing talent and fostering innovation, Project Swayam is laying the groundwork for a greener, more prosperous India.”

The Success of Project Swayam’s Phase 1 is evident in the stories of transformation emerging from Dadri Ghaziabad, Dasna Ghaziabad, Shiv Vihar New Delhi, Bangalore, Chitradurga, Kolar, Belgaum, Mumbai, Nashik, Palghar, Nandurbar, Nanded, Pune and Solapur—a testament to the power of opportunity and determination. Through 240 hours of immersive training and hours of intensive training focusing on Solar PV Installation and Assembly, participants have gained not only technical proficiency but also essential life skills crucial for their professional journey.

The impact of Project Swayam extends beyond skill development, resonating with the broader mission of sustainable growth and inclusive prosperity. As Phase 2 unfolds, the project envisions reaching new heights, empowering more youth and catalyzing positive change.

Project Swayam embodies the spirit of innovation and collaboration—where partnerships drive progress and dreams fuel transformation.

Together, we are shaping a future where green is not just a color but a commitment.

Mumbai, 17th May 2024: In today’s rapidly evolving landscape, data has emerged as the cornerstone of the modern enterprise, serving as the driving force behind breakthrough insights, informed decision-making, and exponential growth. As businesses increasingly rely on data-driven strategies to navigate complexities and capitalise on opportunities, the need for skilled professionals adept in harnessing the power of data analytics has never been more pronounced. Acknowledging the pivotal role data plays in shaping the trajectory of the business landscape, the Indian Institute of Delhi (IITD), acclaimed for its 2nd rank in the Ministry of Education’s NIRF 2023 rankings in Engineering, announced the launch of the Certificate Programme in Data Analytics for Business Applications.

This high-impact 7-month programme is meticulously designed for professionals from diverse backgrounds. It caters to early professionals seeking to elevate their understanding of data analytics for adept decision-making. It is also tailored for mid-career professionals aiming to strengthen their expertise with modern analytical methodologies, enabling them to drive impactful strategies. Similarly, it equips consultants with tools for utilising descriptive, predictive, and prescriptive analytics, empowering them to offer tailored solutions for optimising clients’ operational efficiency and strategic outcomes. Additionally, it will also enable entrepreneurs and small business owners to leverage consumer insights and advanced analytics to refine offerings, fostering sustained growth and competitive advantage.

According to the survey by the Bureau of Labor Statistics, US Department of Labor, in India, the analytics industry is predicted to grow to a market size of $98.0 billion by 2025 and $118.7 billion by 2026. This underscores the significance of equipping professionals with robust data analytics skills to meet the evolving demands of the global business landscape. Recognising this demand, the Certificate Programme in Data Analytics for Business Applications aims to empower participants with the skills to unravel complex business challenges, drive data-driven decision-making, and unlock strategic innovation powered by analytics.

The IITD Certificate Programme in Data Analytics for Business Applications, designed by renowned IITD faculty, includes live online sessions delivered by top IITD faculty, hands-on learning experience, industry-oriented insights, real-world case-studies, a Capstone project and an opportunity for peer-to-peer-learning. Additionally, it also includes essential business analytics tools like Python, SPSS, SQL, KNIME, and Orange, enabling participants to effectively analyse and interpret complex datasets. The modules include impactful topics such as core statistical analysis, advanced statistical analysis, prescriptive decision science systems, & AI and Machine Learning.

This programme will enable participants to:

· Identify and articulate intricate business challenges through analytical frameworks

· Apply a diverse range of analytical techniques to develop data driven growth strategies

· Translate the findings of business analytics endeavours into actionable strategies for enhanced organisational performance

· Demonstrate adeptness in leveraging analytics tools and methodologies to drive innovation and achieve competitive advantage

· Cultivate the skillset to synthesise data insights into compelling narratives, facilitating informed business decisions across functional domains

The eligibility for this programme includes Graduates (10+2+3) or Diploma holders (10+2+3) from a recognised university ((UGC/AICTE/DEC/AIU/State Government/recognised international universities) with a mandatory background in 12th-grade Mathematics. This programme is set to begin on June 30, 2024,

Upon successful completion of the programme with a minimum grading of 50% and maintaining a minimum attendance of 60 per cent, participants will be awarded a prestigious certificate of completion from CEP, IIT Delhi.

Gandhinagar, 17th May 2024 – India’s first listed AI-powered tech and fintech company, Infibeam Avenues Limited (“Infibeam” or “The Company” or “IAL”), (BSE: 539807; NSE: INFIBEAM), has today announced its financial results for the fourth quarter and year ending March 31, 2024.

Consolidated Financial Highlights (INR million)

1 Includes i) Payments TPV [CCAvenue India and International + BillAvenue + Go Payments] + ii) GeM platform TPV.

2 Net Revenue = Gross Revenue – Direct Operating Expenses (predominantly payment processing revenue collected on behalf of ecosystem partners)

3 Excluding the notional impact arising from mark-to-market gain / (loss) from investment in listed security [this has no impact on cash flows]

4 as percentage of Net Revenue

Consolidated Financial Performance Review:

Infibeam Avenues Ltd has reported robust consolidated gross revenue of INR 7268 million, accompanied by a Profit After Tax (PAT) of INR 358 million in the fourth quarter of FY24. The Q4 FY24 gross revenue witnessed a significant increase of 11%, and Q4 PAT saw a sizeable growth of 8% compared to the corresponding quarter of the previous financial year. The EBITDA also exhibited noteworthy growth of 21% Year-over-Year (YoY) to INR 600 million. The TPV rose by 53% YoY, reaching INR 2,265.84 billion, with payment TPV increasing to INR 758.12 billion, during the fourth quarter.

In Q4, the company also witnessed an increase in take rate from 8.5 bps in the beginning of the year in Q1FY24 to 9.2 bps in Q4FY24. This increased intake rate is a result of discipline, execution, optimization, and reimagining digital payments from teams across Infibeam.

“Our CCAvenue payments business stands tall on a robust foundation meticulously crafted to propel expansion and set us apart from competitors. A pivotal aspect of our overarching growth strategy revolves around enhancing merchant account engagement. We anticipate this will keep on fueling an upsurge in payment transactions, total payment volume, and net revenue,” said Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.

The continuous expansion of our merchant base has significantly bolstered our achievements, culminating in an impressive total 10M+ merchant accounts by the end of the fiscal year. Additionally, our transaction processing soared in 2024, handling a remarkable INR 2.57 lakh crores in payment value, excluding Rupay debit cards and UPI payments. This notable growth underscores our unwavering commitment to facilitating seamless transactions and fostering financial prosperity for our valued merchants.

“The company has demonstrated resilience and agility in navigating through the ever-evolving market landscape and was able to maintain its position as a frontrunner in the industry,” said Mr Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd adding further that despite facing challenges posed by the dynamic and competitive environment, the company has exceeded expectations and remains committed to delivering value to its stakeholders.

Infibeam’s sustained growth can be attributed to several factors, with a key driver being its flagship payment brand – CCAvenue. Renowned for offering the widest array of payment options in the industry, CCAvenue’s deep integrations across thousands of third-party merchant systems, fostered continued growth and success.

In addition to its robust payment business, Infibeam’s platform segment has also demonstrated impressive resilience, posting a 29% year-over-year increase. This growth is primarily fueled by strategic accounts with large enterprise clients, further solidifying Infibeam’s position as a leader in the digital commerce ecosystem. It’s noteworthy to mention that despite the ongoing utilization of our ecommerce platform by the Government e-Marketplace (GeM), no income from GeM has been reported in the fourth quarter (Q4), as we have no agreement on commercials with clients to date.

Infibeam Avenues Ltd’s FY 2023-24 marks a pivotal year in its journey. After years of development and investment in digital payment and platforms business, now the company has embarked on a new path, harnessing the power of Artificial Intelligence (AI) to elevate businesses worldwide. In FY24, the company launched its AI business vertical under the brand – Phronetic. AI. The year FY24 witnessed the establishment of an AI Hub at GIFT City, the appointment of a CEO for the AI business and the launch of THEIA, a visual AI framework/platform.

As the company took the strategic decision to embrace Artificial Intelligence (AI), it took other crucial decisions to take forward its digital payment business to the next level. The company further strengthened its international play for its payment business, as it realigned its international businesses received regulatory approval from the Kingdom of Saudi Arabia (KSA), and launched mobile-based QR Code payment solutions in the United Arab Emirates (UAE) market.

“In the upcoming fiscal year, our strategic focus will be on expanding internationally, with a particular emphasis on the Middle East market. This will accelerate our growth trajectory in this region, our international subsidiary has announced a pre-IPO round of up to USD 25 million. This investment will fuel our expansion efforts and propel us towards capturing a significant market share.” stated Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.

Mr. Patel further highlighted the remarkable progress achieved in the Middle East, with all metrics doubling year-over-year as the company introduced express settlement to merchants, rolled out CCAvenue TapPay, and went aggressively with its international expansion strategy across the Middle East region. “The digital boom in the Middle East presents us with tremendous potential for growth,” Mr. Patel pointed out.

In a strategic move within the domestic payment landscape, the company is gearing up to venture into financial product offerings tailored specifically for merchants. Under the umbrella of a new brand name, collectively referred to as our Merchant Finance Offerings, the company aims to provide merchants with access to a range of financial products, including business loan products, insurance products, and wealth management products.

This forward-thinking initiative is poised to unlock new avenues for long-term profitable growth. By diversifying its offerings to cater to the financial needs of merchants, the company is not only expanding its market reach but also solidifying its position as a trusted partner in the business ecosystem.

Major Achievement: Financial Guideline for FY24 achieved

Infibeam Avenues Ltd is thrilled to announce that the full-year FY24 results exceed annual estimates on the payment business’s strength. It has exceeded at higher end of the annual target on both Net Revenue and EBITDA.

At the start of the year, the company had set a gross revenue target of INR 30,000-33,000 million and Net revenue of INR 4,100-4,150 million respectively. The company achieved the targets by closing the year recording Gross Revenue of INR 31,711 million and Net Revenue of INR 4,286 million, which is at the high end of the estimate.

Similarly, both EBITDA and PAT also reached and exceeded the high end of our guidance. The company succeeded in closing the year with a higher EBITDA of INR 2,526 million compared to our target of INR 2,300-2,350 million and PAT came in at INR 1,478 million, versus our target

Infibeam Avenues Ltd also announces its FY24-25 Financial Guideline. The company strongly believes that Artificial Intelligence (AI) and international business will boost the FY24-25 outlook.

Declaration of Financial Guideline for FY24-25: The Company expects to achieve the following financial performance for the financial year 2024-25.

The company has proposed a final dividend of 5% for the Financial Year 2023-24, subject to shareholders’ approval.

New Delhi -17th May 2024, FlixBus, the global travel-tech partner which launched in India in February 2024, has completed 3 months of operations in India on a high note. Over this period, FlixBus has charted a course spanning 1.4 mn+ driven kilometers across 50+ cities. The company has also added 11 new routes taking the total routes to 20 and 5 major bus partners to its existing network taking the total fleet count to 45.

FlixBus has also opened two new lounges in Anand Vihar, RK Ashram, apart from Kashmiri Gate. These lounges provide travelers with a clean environment to unwind before their journey and include amenities such as Wi-Fi connectivity, cloakroom facilities, and pristine accommodations.

Noteworthy Highlights: April witnessed a surge in travel, notably during the extended weekends of Holi and Good Friday. The most popular routes among travelers include:

Delhi to Rishikesh

Delhi to Lucknow

Delhi to Manali

Dehradun to Delhi

Delhi to Haridwar

Since its launch, FlixBus India has been committed to reliability, customer service, and innovative technology integration. It has set a new standard for excellence in the Indian transportation sector with its safety features like gender seating (i.e., seats next to women will be automatically reserved for other women), 24×7 incident response team, a traffic control ward, and 2-point seat belts for all seats.

Said Surya Khurana, Managing Director, FlixBus India, “As we reflect on these three months, I extend my heartfelt gratitude to our invaluable bus partners whose unwavering support and commitment have been instrumental in our success. Together, we’ve forged a partnership that not only facilitates seamless travel experiences but also empowers our bus partners to thrive in their endeavors. We also extend our sincere thanks to our customers for their continued trust and support. We remain open to receiving feedback from them to continually enhance and improve our services.”

Commenting on their partnership with FlixBus, Sandeep Dalal, Managing Director, Ram Dalal Travels, said, “As a proud partner of the FlixBus Network in India, our journey has been nothing short of transformative. The seamless integration of innovative technology and optimization of our daily operations has helped us grow our business, enabled us to elevate the standard of our service, enhance efficiency, and expand our reach. We are truly grateful to be part of this and look forward to continuing our journey of growth and success alongside FlixBus.”