All posts by Sujata Achary

Consistent ROA, Robust Asset Quality: Bank Reports Steady Q3FY25 Performance

Key Highlights

•  BOB reports a growth of 12.6% in its 9MFY25 Net Profit to INR 14,533 crore
•  Net Profit for Q3FY25 stands at INR 4,837 crore, a growth of 5.6% YoY.
•  Asset quality continues to be robust with Gross NPA below 2.5% at 2.43% for Q3FY25, a reduction of 65 bps YoY.
•  Net NPA ratio also remains low at 0.59%, declining by 11 bps YoY.
•  Slippage ratio remains contained at 0.90% for Q3FY25 and 0.81% for 9MFY25.
•  Credit costs remain below 1% due to better asset quality at 0.30% for the quarter and 0.47% for 9MFY25.
•  BOB’s balance sheet remains robust with a healthy Provision Coverage Ratio (PCR) of 93.51% with TWO & at 76.03% without TWO.
•  Return on Assets (ROA) remains above 1% and stands at 1.15% for the quarter and 1.17% for 9MFY25.
•  Return on Equity (ROE) for the quarter is 17.01% and 17.03% for 9MFY25.
•  Operating profit for Q3FY25 stands at INR 7,664 crore, up by 9.3% YoY.
•  Operating profit growth was supported by 34.1% YoY growth in Non-Interest Income which stands at INR 3,769 crore for Q3FY25.
•  Cost The income ratio has also reduced by 4 bps YoY to 49.53% for Q3FY25.
•  BOB’s Global Advances registered a growth of 11.8% YoY in Q3FY25 led by robust retail loan book growth. Bank’s organic Retail Advances grew by 19.5%, driven by growth in high-focus areas such as Auto Loans (21.1%), Home Loans (16.6%), Mortgage Loan (16.3%), and Education Loan (16.9%).
•  Capital Adequacy (CRAR) remains healthy at 15.96%.

Profitability

•  BOB reported a standalone Net Profit of INR 4,837 crore in Q3FY25 as against a profit of INR 4,579 crore in Q3FY24. Net Profit for 9MFY25 stands at INR 14,533 crore (+12.6% YoY) as against INR 12,902 crore in 9MFY24.
•  Net Interest Income (NII) grew by 2.8% YoY to INR 11,417 crore in Q3FY25. NII for 9MFY25 registered a growth of 5.2% and stands at INR 34,639 crore.
•  Non-Interest Income for Q3FY25 grew by 34.1% YoY and stands at INR 3,769 crore. Non-Interest Income for 9MFY25 stands at INR 11,438 crore up by 11% YoY
•  Global NIM stands at 2.94% in Q3FY25. Global NIM for 9MFY25 stands at 3.08%.
•  Yield on Advances stands at 8.35% in Q3FY25 as against 8.51% in Q3FY24.
•  Cost of Deposits increased to 5.08% in Q3FY25 as against 4.96% in Q3FY24.
•  Operating Income for Q3FY25 stands at INR 15,186 crore (+9.2% YoY). Operating Income for 9MFY25 stands at INR 46,076 crore registering a growth of 6.6%.
•  Operating Profit for Q3FY25 stands at INR 7,664 crore (+9.3% YoY).
•  Operating Profit for 9MFY25 increased by 6.3% to INR 24,303 crore.
•  Cost to Income ratio improved by 4 bps YoY and stands at 49.53% for Q3FY25. Cost to Income ratio of 9MFY25 stands at 47.26%.
•  Return on Assets (RoA) (annualised) stands at to 1.15% in Q3FY25. RoA for 9MFY25 stands at 1.17%
•  Return on Equity (RoE) (annualised) for Q3FY25 stands at 17.01%. RoE stands at 17.03% for 9MFY25.
•  For the consolidated entity, Net Profit stood at INR 5,214 crore in Q3FY25 as against INR 4,789 crore in Q3FY24.

Asset Quality

•  The Gross NPA of the Bank reduced by 11.9% YoY to INR 28,471 crore in Q3FY25 and Gross NPA Ratio improved to 2.43% in Q3FY25 from 3.08% in Q3FY24.
•  The Net NPA Ratio of the Bank stands at a low of 0.59% in Q3FY25 as compared with 0.70% in Q3FY24.
•  The Provision Coverage Ratio of the Bank stood at 93.51% including TWO and 76.03% excluding TWO in Q3FY25.
•  Slippage ratio declined to 0.81% for 9MFY25 as against 1.06% in 9MFY24. Slippage ratio for the quarter also remains contained at 0.90% for Q3FY25 as against 0.95% in Q3FY24.
•  Credit cost stands at 0.30% for Q3FY25 and 0.47% for 9MFY25.

Capital Adequacy

•  CRAR of the Bank stands at 15.96% in Dec’24. Tier-I stood at 13.44% (CET-1 at 12.38%, AT1 at 1.06%) and Tier-II stood at 2.52% as of Dec’24.
•  The CRAR and CET-1 of consolidated entity stands at 16.36% and 12.86% respectively
•  The Liquidity Coverage Ratio (LCR) consolidated stands at 130% (approx.).

Business Performance

•  Global Advances of the Bank increased to INR 11,73,034 crore, +11.8% YoY.
•  Domestic Advances of the Bank increased to INR 9,64,869 crore, +11.9% YoY.
•  Global Deposits increased by 11.8% YoY to INR 13,92,461 crore.
•  Domestic Deposits increased by 9.2% YoY to INR 11,65,874 crore in Dec’24.
•  International Deposits grew by 27.3% on a YoY basis to INR 2,26,588 crore in Dec’24.
•  Organic Retail Advances grew by 19.5%, led by growth in high focus areas such as Auto Loan (21.1%), Home Loan (16.6%), Mortgage Loan (16.3%), Education Loan (16.9%) on a YoY basis.
•  Agriculture loan portfolio grew by 12.5% YoY to INR 1,51,050 crore.
•  Total Gold loan portfolio (including retail and agri.) stands at INR 58,172 crore, registering a growth of 29.1% on a YoY basis.
•  Organic MSME portfolio grew by 13.6% YoY to INR 1,31,769 crore.
•  Corporate advances registered a growth of 6.8% YoY and stands at INR 3,87,405 crore.
• 

Chandigarh, January 31, 2025: Cosmo First, a leading global manufacturer of specialty films for packaging, labeling, lamination, and more, conducted a Bhoomi Pujan ceremony at Auric City, Bidkin in Chhatrapati Sambhajinagar (erstwhile Aurangabad) district in Maharashtra. This groundbreaking ceremony is part of Cosmo First’s expansion plan marking a significant development that reinforces the company’s commitment to growth and innovation.

The ceremony, held at Plot No. 3, Sector 25, Auric City, Bidkin, in Chhatrapati Sambhajinagar, Maharashtra, was graced by Mr. Ashok Jaipuria, Mrs. Yamini Jaipuria, Mr. Pankaj Poddar, and the Cosmo First Leadership team, underlining the importance of this strategic expansion for the manufacturing company.

The strategic location was chosen for its promising industrial infrastructure and potential for future development. The Bidkin Industrial Area (BID) is a transformative project in India’s journey to become a global manufacturing powerhouse. This expansion in Bidkin represents a crucial step in Cosmo First’s growth trajectory facility is expected to enhance the company’s operational capabilities and create value for all stakeholders.

Marking this milestone and the company’s expansion, Mr Pankaj Poddar, said, “This Bhoomi Pujan reflects the growth of our company and the potential of this industrial area. By establishing our presence in Auric City, Bidkin, we are not just expanding our operational footprint but also reinforcing our commitment to Maharashtra’s industrial development. This new facility represents our vision for the future and our dedication to creating sustainable value for our stakeholders while contributing to the local economy through employment generation and community development.”

The Bhoomi Pujan ceremony included traditional rituals and prayers, symbolizing an auspicious beginning for this new venture. It featured the ceremonial ground-breaking and holy Puja, marking the formal commencement of the site development.

UTI Mutual Fund (UTI MF) is delighted to announce the launch of two new index funds: UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund (An open-ended scheme replicating/tracking the Nifty Midsmallcap 400 Momentum Quality 100 Total Return Index (TRI)) and UTI Nifty India Manufacturing Index Fund (An open-ended scheme replicating/tracking the Nifty India Manufacturing Total Return Index (TRI))

UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund

The Scheme is a first-of-its-kind offering in the industry with the index fund structure and also UTI’s first multi-cap and multi-factor index fund, an innovative addition to its index fund offerings. This open-ended scheme is benchmarked to Nifty MidSmallcap 400 Momentum Quality 100 TRI. The scheme’s combination provides investors the benefit from a combination of two-factor strategies in one fund, exposure to companies with relatively better growth potential and quality within the mid-small cap segment, and building style diversification in the portfolio. The fund is a low-cost index fund that shall endeavor to achieve returns equivalent to returns of the underlying index while minimizing tracking error.

Salient Features:

NFO Period: 28th January 2025 to 10th February 2025

Fund Manager: Mr. Sharwan Kumar Goyal, Head – Passive, Arbitrage & Quant Strategies

•  Benchmark: Nifty MidSmallcap 400 Momentum Quality 100 TRI
•  Minimum Investment: Minimum initial investment is ₹1,000 and in multiples of ₹1 thereafter
•  Plans & Options: Regular Plan and Direct Plan – offering Growth Option Only
•  Load Structure: No entry or exit load

UTI Nifty India Manufacturing Index Fund

The fund provides exposure to companies from the manufacturing segment in a defined and disciplined way. It is an open-ended scheme replicating/tracking Nifty India Manufacturing TRI. UTI Nifty India Manufacturing Index Fund will offer investors a unique opportunity, to leverage the robust growth potential of the manufacturing industry in India. Index Fund’s strategy will focus on reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weight of stocks in the index as well as the incremental collections/redemptions in the Scheme.

Salient Features:

NFO Period: 28th January 2025 to 10th February 2025

Fund Manager: Mr. Sharwan Kumar Goyal, Head – Passive, Arbitrage & Quant Strategies

•  Benchmark: Nifty India Manufacturing TRI
•  Minimum Investment: Minimum initial investment is ₹1,000 and in multiples of ₹1 thereafter
•  Plans & Options: Regular Plan and Direct Plan – offering Growth Option Only
•  Load Structure: No entry or exit load

Mr. Sharwan Kumar Goyal, Head – Passive, Arbitrage & Quant Strategies, UTI AMC said, “UTI AMC is amongst the largest asset managers in the passive category with over 2 decades of experience of managing passive Funds. The two new offerings aim to provide investors opportunity to invest in categories and industries which offer immense growth prospects with disciplined approach to the portfolio construction, while adhering to a defined selection process. With our expanded product line in the passive category, we intend to offer tailored solutions to our investors that may align with their long-term financial goals and help them navigate today’s dynamic financial landscape.”

UTI Nifty MidSmallcap 400 Momentum Quality 100 Index Fund

(An open-ended scheme replicating/tracking Nifty MidSmallcap 400 Momentum Quality 100 TRI)

This product is suitable for investors who are seeking*:

•  Returns that are commensurate with the performance of the Nifty MidSmallcap 400 Momentum Quality 100 Index over long term, subject to tracking error.
•  Investment in securities covered by the Nifty MidSmallcap 400 Momentum Quality 100 Index

Product labelling assigned during the New Fund Offer (NFO) is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.

 Based on the Index Composition as on December 31, 2024.

 Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Enter the world of The Storyteller, a mesmerizing film that will both tug at your heartstrings and awaken your imagination. Premiering on Disney+ Hotstar on January 28, 2025, this enchanting film is inspired by Satyajit Ray’s classic short story Golpo Bolo Tarini Khuro. With its themes of friendship, personal growth, and the profound impact of storytelling, it offers a rich and evocative experience that feels both timeless and intimate. Directed by the acclaimed Ananth Narayan Mahadevan, the film features an exceptional ensemble cast, including the incomparable Paresh Rawal, the brilliant Adil Hussain, the iconic Revathy, and the talented Tannishtha Chatterjee. The Storyteller weaves a delicate balance of humor, warmth, and emotional depth, reminding us of the extraordinary stories that shape our lives and leave a lasting imprint on our hearts.

Director, Ananth Mahadevan says, “Working on The Storyteller was truly a deeply personal journey for me. The beauty of Satyajit Ray’s story lies in its timeless essence, and to bring it to life with such an incredible cast was nothing short of magical. Stepping into the genial mind of Ray and attempting to visualize the film like he would, was the real challenge.Disney+ Hotstar, with its far-reaching platform, offers an intimate connection with audiences, and I felt that sense of closeness throughout the entire process. I’m excited for people to watch the film and share in the warmth, wisdom, and emotions that have made this film so special to me. I hope it resonates with everyone the way it has with me.”

Paresh Rawal said, “Playing Tarini Khuro was like stepping into a world of wisdom, wit, and wonder. This story isn’t just a tale—it’s a journey of emotions that stays with you long after it ends. I’m overjoyed that The Storyteller will now reach homes through Disney+ Hotstar, and I can’t wait for everyone to experience the magic, the humor, and the heart of this film. It’s a piece of my soul I’m sharing with the audience.”

Adil Hussain said, “The Storyteller is so much more than a film—it’s a heartfelt celebration of the stories that shape us and the connections that make us human. Being a part of this beautiful journey has been an honor, and I’m overwhelmed with joy knowing it will now touch lives through Disney+ Hotstar. I hope it brings warmth, laughter, and meaning into everyone’s lives, just as it did for us while making it.”

Revathy said, “This is one of those rare films that speaks straight to the heart. The Storyteller reminds us of the healing power of stories, the beauty of human connections, and the timeless wisdom they carry. Knowing that this incredible journey will now unfold for audiences on Disney+ Hotstar fills me with so much emotion. I hope it touches your hearts, inspires you, and stays with you as it did with me.”

Get ready to step into a world where stories aren’t just told—they come alive and touch your heart most beautifully. The Storyteller isn’t just a film; it’s a heartfelt journey filled with magic, emotions, and unforgettable moments that will stay with you long after the credits roll.

This much-celebrated movie comes to life under the skilled production of Jyoti Deshpande, Salil Chaturvedi, Succhanda Chatterjee, and Shubha Shetty under the production company of Jio Studios, Purpose Entertainment & Quest Films. The film’s enchanting and whimsical vibe is beautifully elevated by its soulful soundtrack, crafted by the talented team of Hriju Roy.

Manraj Singh Sarma, who plays Rudra in Sun Neo’s Saajha Sindoor, acting goes beyond a profession it’s a labor of love and a form of self-expression. Manraj draws inspiration from three cinematic powerhouses: Heath Ledger, Christian Bale, and Ranbir Kapoor. These icons, with their dedication and versatility, set the gold standard in storytelling. From Heath Ledger’s unforgettable take on the Joker to Christian Bale’s transformative commitment to his roles, their artistry serves as a guiding light for Manraj, reminding him of the depth and emotion acting requires.

Opening up about his inspirations, Manraj shared, “Heath Ledger’s portrayal of the Joker taught me how deeply one can dive into a character’s psyche it was raw, intense, and unforgettable. Christian Bale’s ability to transform himself, both physically and emotionally, is nothing short of genius. And Ranbir Kapoor, with his effortless charm and relatability, inspires me to keep evolving. Together, they’ve shown me that acting is not just about delivering lines; it’s about making an emotional connection that resonates with the audience.”

Manraj’s admiration for these stalwarts is reflected in his commitment to growth as an actor. He believes every role is an opportunity to refine his craft and explore new creative avenues. With Saajha Sindoor, Manraj continues to channel the inspiration from these cinematic legends, delivering heartfelt performances that leave a lasting impact. This journey of passion and dedication underlines his drive to make a meaningful mark in the entertainment industry.

Airing daily at 8 PM on Sun Neo, Saajha Sindoor is a gripping family drama that follows the marital journey of Phooli (Stuti Vinkle) and Gagan (Sahil Uppal). The show’s stellar cast, including Sangita Ghosh, Nassir Khan, and Manraj Singh Sarma, brings to life a tale of love, challenges, and familial bonds. Don’t miss this series on Sun Neo!

Headline: Advanced materials helping soldiers tread lightly and aerial vehicles safely lift off

Subhead: Lightweighting has emerged as the No.1 priority in defence and aerospace for applications across the board – from lighter aerostructures to comfortable bulletproof vests. Materials science has helped address this challenge. Advanced ceramic- and graphene-based nano-composites are not only leading for being high-performance but also uncompromising when it comes to safety.

Body text:

The most competent man-at-arms of medieval times faced structural problems on the battlefield from the very armour meant to protect them. Not only did their iron suits interfere with vision and speech, but their sheer weight rendered them clumsy and slow. The modern-day soldier cannot afford such impediments during combat. From the tactical, mobility and economical standpoints, their armour must serve them to the best advantage, keeping them agile and battle-ready in a combat zone.

Given geopolitical tensions, India wants to up the ante in its defence preparedness with an expanded budget to accommodate modernisation. At this juncture, light-weighting has emerged as the foremost question – how to reduce movement impairment caused by significant weight burden while ensuring the highest protection for man and machine? It is at this intersection that materials science has come to play an indispensable role.

Protection done right while keeping it light

The weight-performance conundrum has been a long-standing one. A soldier could be carrying as much as one-third of their body weight, up to a maximum of 40 kg. The bulletproof jacket (BPJ) alone weighed over 10 kg earlier. While the idea was to protect vital body parts, this greatly compromised their safety and comfort while affecting their ability to move quickly. This held, especially in unexpected combat situations.

The imperative of lightweighting without compromising on strength has brought materials science to the fore in defence and aerospace. Over the years, R&D has led modern personnel protective equipment through several iterations to finally arrive at advanced ceramics. Reaction Bonded Silicon Carbide (RBSiC), Zirconia Toughened Alumina (ZTA) and high-purity alumina have all proven their mettle in both these spheres. They are extremely lightweight while ably protecting soldiers and military vehicles against multiple hits. Army veteran Lt Gen H S Panag writes that battle casualties can be reduced by two-thirds with contemporary BPJs.

Therefore, the evolution in ceramic armour tech for lighter and more resilient bulletproof jackets and armoured vehicles can help them perform more efficiently in an evolving threat landscape.

Taking to the air safely with nanomaterials

Meanwhile, nanotechnology has climbed new heights. By allowing materials to be manipulated at the atomic and molecular levels, they have enabled ground-breaking advancements in materials science. As a result, nano-composites, nano-coatings, and other advanced materials have emerged, bringing greater flexibility and core strength, with negligible weight that are crucial for aerospace applications.

Graphene is the new wonder-kid in materials science. Nearly 1000x lighter than paper and 200x stronger than steel, it could very well emerge as the material of choice for this strategic sector. Nanomaterial-reinforced composite materials, particularly graphene-reinforced polymers, have the potential to build next-gen structural components for various aerospace applications. When compared with components designed using standard composites, they present advanced mechanical properties at the same or lighter weight. Some of these include remarkable mechanical strength, superior toughness and stiffness, greater electrical and thermal conductivity, exceptional fire retardant capabilities, and higher barrier to moisture and gases.

They can also be uniquely designed, with particularly desired characteristics to fulfil specific purposes. As an example, graphene-reinforced structural components using high-purity graphene powders, graphene-based nano-composites and Carbon Fibre Reinforced Polymers (CFRP) can render Unmanned Aerial Vehicles (UAVs) or drones faster, smaller, and more efficient. This can be attributed to being far lighter while boasting extreme strength and higher durability.

Moreover, UAVs play an important role in recon and transport of materials. They can be built with the capability to perform multiple airdrops of essential medicines to forces stationed in remote regions.

Vehicle armour: taking the lighter route

Amphibious wheeled armoured fighting vehicles such as the Wheeled Armoured Platform (WhAP) are a hat-tip to India’s indigenous defence development capabilities. These terrain-agnostic vehicles need to be equipped with armour that helps them comfortably navigate while remaining extremely light on their feet and well-protected against projectiles. This calls for add-on composite armour engineered with advanced technical ceramics that ably fulfil all these criteria. In a testament to CUMI’s expertise, we were recently awarded the Transfer of Technology by DRDO-DMRL to manufacture add-on composite armour for WhAP and other armoured vehicles.

India is also keenly exploring indigenous light combat vehicle prototypes and that not only aid reconnaissance and surveillance, but also swift deployment, with easy manoeuvrability. This assumes greater significance in combat zones located in high-altitude regions with rarefied air and mountainous terrain where lightweight armour can be a critical decisive factor.

This will enable India’s defence forces not only gain tactical but also performance advantage. Greater fuel efficiency and easy mobility will facilitate more advanced protection for our troops.

A secure supply chain ‘made in India’

The ‘Make in India’ campaign has definitely gathered momentum since inception. As per government data from October 2024, India’s indigenous defence ecosystem is home to nearly 16,000 MSMEs and more than 430 companies that are licensed. In the last four years, 13,000 items listed by the Department of Defence Production on the SRIJAN portal have seen success in indigenisation by the private sector.

While these are definitive steps to Atmanirbharta, the campaign’s real goal can ensure India has a truly strong and secure supply chain. This can be attained only when the entire product lifecycle is realised within the country. As an example, essential products such as bulletproof vests and armoured vehicles – our first line of defence on-ground – use advanced ceramics as the base material to design armour. To define ‘Made in India’ here and the complete replacement of imports, it is pivotal for the raw materials to be produced in India. This will create a truly made in India product. Presently, CUMI is the only company in India that can supply fully backward integrated ceramic armour materials in this section.

Outlook

Advancements in indigenous materials science research holds the key to self-sufficiency and also the opportunity for India to lead innovation globally in aerospace and defence. Projects leveraging Industry Academia collaboration like those involving leading material science companies such as CUMI with DRDO’s Centres of Excellence at elite universities in the country will enable cutting-edge innovations required by this sector.

Mumbai |January 30, 2025: Chalet Hotels Limited announces its results for the third quarter of the fiscal year 2025 ending December 31, 2024.

Key Highlights for Q3FY25:

•  Total IncomeatINR 4.6bn, up 22%as compared to Q3FY24
•  TotalEBITDAatINR2.1bn, up 23%as compared to Q3FY24

• Hospitality Segment Performance:

•  Revenue atINR4.0bn, up by 17%from Q3FY24
•  ADRat INR12,944, up by 18% over Q3 FY24
•  Occupancy was at 70%
•  RevPAR improved by16%YoY to INR 9,090

 EBITDA was at INR 1.8bn up by16% from Q3FY24

Other Highlights:

•  The Rental and Annuity segment saw an additional 0.4msf leasing within the quarter.
•  Chalet Hotels Limited was honored as one of the top 5 hotel developers in India by the prestigious Hospitality Horizon Awards 2024.
•  Chalet Hotels Limited has received the Great Place To Work ®, India certification for the sixth consecutive year.

Development Pipeline Updates:

•  Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield(~125-130 rooms) in Q4 FY25.
•  Renovation, upgradation and expansion of The Dukes Retreat (65 rooms) completion in Q1FY26.
•  ‘Taj’ at the T3 Terminal Delhi International Airport (385-390 rooms),‘Hyatt Regency’ at Airoli, Navi Mumbai (~280 rooms) and CIGNUS POWAI® Tower II in Mumbaiare scheduled for completion in FY27.
•  Renovation of Four Points by Sheraton Navi Mumbai has commenced. Currently 35 rooms are under renovation and not available for sale.
•  New leisure hotel in Goa scheduled for commencement during FY28.

Speaking on the financial results,Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited says, “Our strongest-ever quarterly performance, reflects our relentless pursuit for excellence. We continue to invest in value accretive growth, fostering innovation and sustainable progress. Being recognised as a Great Place to Work for the sixth consecutive year further solidifies our position as a modern leader, delivering outstanding value to all stakeholders.”

Chandigarh, 29 January 2025: Raymond Limited today announced its unaudited financial results for the quarter ended 31st December 2024.

Raymond Limited continued its growth momentum, delivering a healthy performance with consolidated quarterly revenue from the Real Estate and Engineering business of ₹ G85 Cr, reflecting a 36% increase compared to the same quarter of the previous financial year, and an EBITDA of ₹ 16G Cr with an EBITDA margin of 17.2 %. This includes the MPPL acquisition completed in March 2024.

The Real estate business continues to perform well and In Q3 FY25, the company achieved a booking value of ₹ 505 Cr, primarily driven by demand for The Address by GS 2.0, ‘TenX ERA’, Sale of Retail shops in Thane and in JDA ‘The Address by GS’ in Bandra. Raymond Limited continues to be a Net Cash surplus company with ₹ 6G6 Cr available for future growth.

Commenting on the performance, Gautam Hari Singhania, Chairman & Managing Director, of Raymond Limited said; “We witnessed continued growth momentum in our Real Estate business during the quarter, with a strong booking value on account of the successful launch of a new residential tower and continued traction in high street retail shops on our Thane land. Additionally, we remain optimistic about the future of our Engineering business, particularly in the aerospace sector, where we foresee significant growth opportunities. As we enter the last quarter of the financial year, we remain optimistic about the growth trends across businesses and we are confident in our ability to deliver sustained value to our stakeholders”

Q3FY25 Segmental Performance

Real Estate Business:
Raymond Realty delivered a steady quarterly performance with a revenue of ₹ 488 Cr in Q3 FY25 from ₹439 Cr in Q3FY24 recording a growth of 11% Y-o-Y. The segment reported an EBITDA of ₹116 Cr in Q3 FY25 from ₹97 Cr in Q3 FY24. EBITDA margin at 23.8% in Q3FY25, ~160 bps improvement over 22.1% in Q3FY24. During the quarter, Raymond Realty launched a new residential tower in its Address by Season 2.0 Thane project which received an overwhelming response. Further, we also witnessed continued traction in our Park Avenue – High Street Reimagined Retail project launched in the previous quarter. This is a first-of-its-kind high-street retail in Thane that will host premium aspirational brands.

Raymond Realty continues to focus on delivering projects within committed timelines. Given our track record of delivering projects ahead of timelines, which was well appreciated by our customers and resulted in increased customer confidence. Total potential revenue from our current Real Estate Business is ₹ 32,000 Cr+, which includes ₹ 25,000 Cr+ from our Thane Land parcel and ₹ 7,000 Cr+ from 4 separate JDAs.

Engineering Business:
Segment’s sales stood at ₹ 433 Cr in Q3FY25 compared to ₹ 217 Cr in Q3FY24. This performance includes the acquisition of MPPL, completed in March 2024. The auto components and the engineering consumable category were impacted due to sluggishness in export markets on account of weak demand and geopolitical issues. During the quarter, the business reported an EBITDA margin at 12.0% lower as compared to 13.8% in Q3FY24 mainly due to changes in the product mix. The aerospace business is expected to grow post resolution of production issues faced by one of the largest aircraft manufacturer leading to delays in order.

Chandigarh, 30th January 2025: Get ready to be swept away by a wave of nostalgia as Tips Music Limited and Sterling Reserve Music Project continue their electrifying journey with “Tips Take 2.” Following the resounding success of “Sambhala Hai Maine,” the dynamic duo is back with the second captivating classic “Palki Mein Hoke Sawaar,” set to release on January 29th, 2025.

Hari Nair, Chief Executive Officer, of Tips Music Limited, said, “At Tips Music, we believe in the power of timeless melodies. ‘Tips Take 2’ is our endeavor to reimagine our classics in a new take. We are happy to partner with Sterling Reserve to release the second song – ‘Palki Mein Hoke Sawaar’. It is another shining example of how we’re breathing new life into these gems. We are confident this song will capture hearts just like the previous one.”

Bikram Basu, Chief Strategy and Innovation Officer, Allied Blenders and Distillers added “The Sterling Reserve Music Project celebrates moments that bring people together. We are thrilled to reimagine music which has brought people together and presented to a new generation. ‘Palki Mein Hoke Sawaar,’ blends the spirit of tradition with modernity. This partnership with Tips Music reflects our journey to embed Sterling Reserve with our culture.”

This time, the timeless melody gets a fresh, soulful twist courtesy of the powerhouse vocals of Shahid Mallya and Asees Kaur. Adding to the magic, the stunning Tanya Maniktala and the charismatic Ishwak Singh grace the screen, bringing their undeniable chemistry to this musical revival.

Shahid Mallya said, “It’s an absolute honor to be a part of ‘Tips Take 2’ and the beloved classic ‘Palki Mein Hoke Sawaar.’ Collaborating with Asees and being a part of this reimagining has been an incredible journey. I hope our rendition brings as much joy to the listeners as we experienced creating it.”

Asees Kaur expressed her excitement, “Recreating ‘Palki Mein Hoke Sawaar’ has been a truly special experience. The song is iconic and gives it a fresh, modern touch. The entire team put their heart and soul into this project, and I’m excited for everyone to hear our take on this timeless melody!”

“Palki Mein Hoke Sawaar,” a beloved track from the 90s, is reborn under the “Tips Take 2” banner, promising to resonate with a new generation while reigniting the passion of devoted fans. The solid collaboration between Tips Music Limited and Sterling Reserve Music Project continues to celebrate iconic sounds with a modern flair.

Tanya Maniktala expressed, “Being a part of ‘Tips Take 2’ has been an amazing opportunity. ‘Palki Mein Hoke Sawaar’ has always been close to my heart, and this new version is just magical. I am so excited for the audience to experience the beauty and nostalgia of the song and the video.”

Ishwak Singh, said “The 90s era music has a unique vibe, and to be able to contribute to this fresh take on a classic is truly exciting. It’s been an exciting experience to bring this musical narrative to life with such talented collaborators.”

Chandigarh, January 30, 2025: Tata Steel becomes India’s first steel company to demonstrate end-to-end capabilities to develop pipes for the transportation of hydrogen, marking a significant milestone towards achieving the country’s National Hydrogen Mission.

The API X65 ERW pipes processed at Tata Steel’s Khopoli plant, using the steel manufactured at the Company’s Kalinganagar plant, successfully achieved all the critical properties required for hydrogen transportation. The hydrogen qualification tests were carried out at RINA-CSM S.p.A, Italy, a leading approving agency for hydrogen-related testing and characterization. The new hydrogen-compliant API X65 grade pipes can be used for the transportation of 100% pure gaseous hydrogen under high pressure (100 bar).

Prabhat Kumar, Vice President – Marketing & Sales (Flat Products), at Tata Steel, said: “Tata Steel has always been at the forefront of developing technologies for manufacturing critical steel grades. The successful testing of the new ERW pipes demonstrates our capabilities to deliver critical physical infrastructure for the energy sector, domestically. We are proud to contribute to India’s National Hydrogen Mission, which by itself is a key component of the country’s ongoing clean energy transition. Tata Steel is proud to be the first Indian steel company to successfully take on this challenge and deliver products to cater to the emerging domestic and global demand for these special grade steel pipes.”

Tata Steel’s Research and Development team has been extensively engaged in developing innovative and sustainable solutions for hydrogen transportation and storage. In this case, the complete technology development, from the design and development of the hot rolled steel to the pipe manufacturing, was done entirely in-house. In 2024, Tata Steel also became the first Indian steel company to produce hot-rolled steel for the transportation of gaseous hydrogen.

National Hydrogen Mission will enable India to build capabilities to produce at least 5 million metric tonnes (MMT) of Green Hydrogen per annum by 2030, with the potential to reach 10 MMT per annum with additional demand for exports which would require substantial investments in generation and transportation. The demand for steel compliant with hydrogen transportation is expected to start from 2026-27, with the total steel requirement of 350KT spanning over the next 5 to 7 years. While various mechanisms of hydrogen transportation are available, steel pipelines are considered economically more viable for mass transportation.