Hyderabad, 30th October 2023 Having a child is one of life’s greatest blessings. But with erratic lifestyle, delayed parenthood, lack of exercise, consumption of junk foods, and environmental factors, there is a steady rise in infertility in India. Infertility is just like any other health issue and one has to come out of fears, and inhibitions and discuss it with a fertility specialist. With advanced technologies in place, fertility-challenged couples can overcome infertility and achieve their dream of having a child.

Oasis Fertility, Banjara Hills, one of the well-known and highly acclaimed fertility centers in Hyderabad organized an event to celebrate the joy of parenthood with the babies born out of IVF treatment. Dr. Durga G Rao, Co-founder and medical Director, Oasis Fertility, Dr. Krishna Chaitanya, Scientific Head and clinical Embryologist, Oasis Fertility, Dr Prachee S Kulkarni, Consultant Fertility Specialist, Oasis Fertility and Dr Akhila Ayyagari, Fertility Specialist, Oasis Fertility and Dr Aaishwari Durge, Consultant Fertility Specialist, Oasis Fertility graced the occasion. Several families with their babies participated in the event.

The center had recently successfully completed the reaccreditation process for NABH (National Accreditation Board for Hospitals) as it is committed to delivering the best in class treatment and care to ensure the safety and satisfaction of the couples.

Speaking on the occasion, Dr Durga G Rao, Co-founder & Medical Director, Oasis Fertility stated, “Very happy to be part of this wonderful occasion. We have advanced technologies backed by top-notch fertility specialists and the finest embryologists. Coming out of silence and discussing fertility issues frankly with a fertility specialist is the most important thing.

If you wish to postpone parenthood, take up the option of preserving your eggs, sperms, or embryos through fertility preservation as fertility decreases with age. Having a healthy diet and healthy weight is essential to achieve conception.

People with cancer need to preserve their fertility before undergoing cancer treatments. With a holistic, compassionate, and personalized approach, we are here to help you become happy parents”.

Dr Krishna Chaitanya, Scientific Head and Clinical Embryologist, Oasis Fertility stated, “Men also contribute to infertility. Obesity, Diabetes, lack of proper sleep, smoking, and alcohol consumption affect men’s fertility. We have an exclusive male fertility centre – AndroLife through which we provide the necessary privacy, space, and fertility treatment to men. With advanced technologies like MicroTESE (Microsurgical Testicular Sperm Extraction) and microfluidics, we help men overcome fertility issues and have their biological child without going in for donor sperm.”

Speaking on the occasion, Dr Prachee S Kulkarni, Consultant Fertility Specialist, Oasis Fertility, Banjara Hills stated, “I congratulate all the couples who had trust in us and enabled us to create the joy of parenthood in their lives. We offer a wide array of fertility treatments like IUI, IVF, IVM, fertility preservation, donor treatments, etc. It is vital to consult a fertility specialist if you are unable to conceive even after a year. We get many complicated or difficult cases, or multiple times failed fertility cases, we feel privileged to help such patients achieve their dreams of parenthood. We provide fertility treatment with transparency and ethical practices, with the help of advanced technology by highly experienced team of specialist. For patient safety we are following all the norms laid down by the government. When one starts the motherhood journey at an young age, the complications would be lesser, also when you begin at an older age, if you are medically fit, the chances of complications would be less. We also have Oocyte prior preservation, many unmarried individuals do not have immediate plans to get married of if they are married and are not wanting to get pregnant immediately, they can become parents at a later date, by prior preserving their oocytes.”

Dr Akhila Ayyagari, Fertility Specialist, Oasis Fertility, Banjara Hills stated, “Extremely glad to see all these kids here. My heartfelt congratulations to all the parents who took the right step at the right time. We offer advanced treatments to help women with PCOS, endometriosis, recurrent miscarriages, IVF failures, fibroids, etc. to achieve parenthood. Don’t lose hope. Women should take the right decision at the right time, come to us at the appropriate time and that would help them to achieve their dream of parenthood. It’s the quality of oocyte and the quality of the sperms which determines the success of infertility treatment. We have number of interventions to improve the quality of Oocytes and sperms in the form of drugs used, the protocols we practice, injections we use, the technique used, selection of the sperm etc. The success of IVF is about 40% to 50%, but if you had pre-genetic testing, it goes up to 60% to 70%.”

Dr Aaishwari Durge, Consultant Fertility Specialist, Oasis Fertility stated, “We offer personalized fertility treatments based on the couple’s age, health condition, weight and several other factors. Through the use of advanced technologies, we improvise the success rates of fertility treatments. Never postpone fertility treatments as it may affect the outcome.”

Muscat, Oman –30th October 2023 Fisheries Development Oman (FDO) and its subsidiary companies recently wrapped up a triumphant exhibition at the prestigious 26th China Fisheries & Seafood Expo, held from October 25th to 27th, 2023, at the Hongdao International Convention and Exhibition Center (HICEC) in Qingdao, China. The event garnered remarkable attention and left attendees enthralled by the extensive array of offerings and compelling investment prospects within Oman’s thriving fisheries sector. FDO’s presentation of products adhering to international standards solidified its pivotal role in the global fisheries industry.

This event, renowned as one of the world’s premier seafood exhibitions, attracted an astonishing number of attendees, marked by more than 40000 visitors and active participation from over 1600 companies. Beyond being a platform to showcase FDO’s products and services, the expo acted as a magnet for investment opportunities.

This year’s Expo proved particularly advantageous for FDO and its subsidiaries, thanks to the recent cooperation protocol established between Oman and China. Visitors and business partners gained insight into the rigorous food safety standards that guarantee the quality and safety of Omani fish products, fully aligned with China’s health regulations. This positioning solidified FDO’s standing as a trustworthy global supplier and significantly contributed to its expanding international presence.

Visitors exploring FDO’s exhibition stand were captivated by the multifaceted investment opportunities offered by Oman’s fisheries sector. FDO emphasized its unwavering commitment to sustainable fishing practices, which serve as the cornerstone for the long-term preservation of Oman’s abundant marine resources. The showcasing of cutting-edge aquaculture technologies and infrastructure further underscored FDO’s dedication to enhancing productivity and maintaining exceptional standards throughout the value-added chain.

Mr. Hilal Al Riyami, Group Manager Supply Chain, shared his insights on FDO’s participation at the China Fisheries & Seafood Expo 2023: “Our presence at this event was nothing short of a remarkable success. It afforded us the opportunity to cast a spotlight on Oman’s fisheries sector, with a particular emphasis on the Chinese market. The overwhelming interest from attendees, who recognized the enticing investment prospects and the exceptional products and services provided by FDO, has given us confidence that these interactions will pave the way for significant partnerships and collaborations, ultimately propelling the sustainable growth of Oman’s fisheries industry within the context of the Chinese market.”

FDO’s comprehensive portfolio took center stage throughout the exhibition, featuring fresh and frozen fish, value-added seafood products, state-of-the-art fish processing facilities, aquaculture technologies, and sustainable fishing practices. This comprehensive showcase reaffirmed FDO’s standing as a prominent player in the global fisheries arena.

The active participation of FDO in the China Fisheries & Seafood Expo 2023 mirrors the Omani government’s unwavering commitment to diversifying its economy and harnessing the vast potential of the fisheries sector. Oman’s strategic location, favorable business environment, and abundant natural resources make it an attractive destination for both local and international investors seeking growth opportunities in the aquaculture industry.

Indore, 30th October 2023:Mrs.SuchitraDhanani along with Mrs.SadhnaVyas and Mrs.MadhaviMandloiZamindar today announced the beginning of the festive exhibition ‘Virasaat’ at the Sapphire Hall at Sayaji Indore. The two day’ exhibition showcased the masterpieces and artistry expertise of the handicraft and artwork showcased by them. The original idea of exhibiting these masterpieces is to primarily promote traditional and contemporary artwork, handicrafts and textiles.

Mrs.SuchitraDhanani on the occasion said; “My personal liking and the interest in exploring the traditional cultural heritage is the idea behind this exhibition today. Zardosi’s work, embroideries, potli designs and rich wall frames are my personal likings which inspired me to do this exhibition and get masterpieces from across the country to offer the people of Indore. I envision this as that during the festive times it is always better if we weave our house and décor along with traditional vibes and Indian culture.”

Virasaat, in its first season, has brought traditional textiles, hand-printed sarees, Kurtas, scarves, zardosisarees, sherwani buttons made out of zardozi, and single decorative frames with rich effects. This embarks the journey and lead to inspiring these self-made women to get more heritage from across the country to the masses of Indore.

Mumbai,30th October 2023: Avaada Foundation (www.avaadafoundation.com), committed to the unwavering holistic development of society across social, economic, spiritual, and moral dimensions, organized the annual staging of the epic saga ‘RamLeela: Satya Vijay Gatha’ at the Jamna Bai School Auditorium in Mumbai.

Embarking on its fourth consecutive year, this enchanting portrayal of Lord Ram’s life story stands as a testament to the Avaada Foundation’s dedication to rejuvenating age-old values and traditions. A radiant confluence of passion, talent, and devotion, the performances are uniquely brought to life by the fervent members of the Avaada Group and their children, each portraying revered mythological characters with unparalleled zeal.

Imbued with profound narratives, this epic saga serves as a vital platform for inculcating moral values in young minds. Through the powerful tales of Ram, Sita, Lakshman, Bharat, and every emblematic character of the Ramayan, the Foundation endeavors to inspire the youth to internalize and embody the exceptional qualities these legends exemplify.

Mr. Vineet Mittal, trustee Avaada Foundation expressed, “Every individual bears a profound debt to our parents, our encouraging nature, the wise saints and sages, and the broader society. It is through our noble and selfless actions that we strive to repay this invaluable debt. We believe in the transformative potential of stories to mould young minds and guide them. The Ramayana is not just a story. It is a mirror reflecting the complexities of life, the choices we make, and the consequences that follow. It is a guide, teaching us values that are timeless and universal. Avaada Foundation chose to promote this epic because Ramayan offers invaluable life lessons. From Lord Ram’s respect for his parents, Sita’s resilience, Hanuman’s loyalty, and Bharat’s sense of justice, – each character provides a lesson in ethics, morality, and righteousness. As our young performers bring this epic to life, I urge each one of you, young and old, to not just enjoy the spectacle but to internalize the lessons. Let Ramayan be more than just a story; let it be a guide, a mentor, and a friend.”

We express our gratitude to Mr. Satish Shinner and his volunteers for patiently teaching the children, all the participating children who brought their never-ending enthusiasm to every rehearsal and their parents for their support. Ruzal, Rupal, Dipesh, and all the other volunteers who worked behind the scenes to bring about this spic saga to you today.

Lastly, but most importantly, the venue, Jamnabai Narsee School, is a very special place. The ethos of this institute prepares minds for a changing world. Mr. Jairaj Thacker Trustee JNIL and a member of the founding family for their unequivocal support, without which this event wouldn’t have been possible.

Bengaluru, 30th October 2023: Muzigal, India’s largest Music Education Platform, launched its 11th state-of-the-art music academy in Bengaluru. Located in Kadugodi, Bangalore, the academy is spread over 2300 sqft and boasts of an unmatched ambiance that is highly conducive to the learning of music including vocal and instrumental. In the presence of Chief Guest – Mr. Lingam Anil Kumar a noted Carnatic Vocalist and performer, and Dr Sowmiya Ramesh, Founder and Managing Partner of Al Jalil Exports and Director of DG Hospital & Muzigal’s Founder Dr. Lakshminarayana Yeluri.

With a capacity to accommodate over 500 students, spread over multiple batches, the Music Academy at Kadugodi will offer lessons in Piano, Keyboard, Guitar, Drums, Carnatic Vocals, Hindustani Vocals, Western Vocals, Violin and Ukulele. For the inaugural month, post the launch of the Music Academy, Muzigal is offering 1-month of free music education with all enrolments.

Muzigal’s state-of-the-art academy is setting a gold standard in music education by providing a 360-degree framework in the music learning and teaching eco-system with online, offline, and music instruments shop-front integrated into one platform.

Speaking at the launch of Muzigal’s Kadugodi Academy, Muzigal’s Founder Dr. Lakshminarayana Yeluri said, “The Muzigal Academy builds on our mission of democratizing music education by giving learners access to a state-of-the-art learning center in their own community. This will represent the best learning and teaching experience one could hope for in music. It will cater to the widest range of courses in Indian classical and western music taught by expert music teachers. In addition to these, a structured curriculum, periodic assessments, certification, flexible fee payment plans, highly trained teachers, and easy access, make it learner-centric at heart.”

With over 10,000 students spread across India, USA, UK, Australia, and UAE, supported by 400+ trained music teachers and over 40,000 classes completed successfully, Muzigal has helped students fulfil their music aspirations globally, whether they are hobby learners or serious learners hoping to achieve Trinity grade certification.

Traditional music institutions in India have mostly remained as mom-and-pop shops, home tuitions or through some of the large boutique institutions that are either restricted to certain geographies or limited only to advanced level of music learners that are not built to scale with a tech stack behind them. Muzigal’s academy epitomizes and reimagines neighbourhood music academies with state-of-the-art infrastructure, wide choice of music courses, dedicated staff, trained teachers and a shop front. Muzigal invites learners of all age groups and walks of life to come and join the fun.

Muzigal provides a comprehensive approach to music education by leveraging its online presence, offline academies and expert teachers to address the needs of music learners. This approach ensures that students have the resources and guidance necessary to achieve their musical aspirations.

The Kadugodi Muzigal Academy is located at 2nd Floor, Above Bata Showroom, Whitefield, Hoskote Road, Kadugodi Post, Bengaluru – 560067.

Amethyst presents an exclusive exhibition of Amrapali’s festive fine jewelry collection featuring one-of-a-kind pieces crafted using rare gemstones and created using ancient Indian techniques which have been preserved by highly skilled craftsmen. This collection comprises colorful jadau pieces which are perfect for festive occasions as they add vibrancy and charm to the festivities, crafted in gold they shine for prosperity & auspiciousness from 11am to 7.30pm from November 1st to 4th, 2023 at Amethyst, Whites Road, Royapettah, Chennai. Ph : 7338899176 / 8056018886. Prices start at Rs.1 Lakh and goes up to Rs.60 Lakhs

Amrapali – Brand Note:

Amrapali Jewels is an internationally renowned luxury Indian jewelry brand that traces its origins to the year 1978, when Mr. Rajiv Arora and Mr. Rajesh Ajmera took upon themselves the task of showcasing to the world the exclusivity and magnificence of Indian heritage jewelry. Every jeweled piece is created with the help of master craftsmen and goldsmiths within and around Jaipur, with elements of Indian ethnic jewellery in their designs they have revived the traditional methods, in order to create a design language distinct to Amrapali. Like the beautiful royal courtesan Amrapali of prehistoric era from where the name of this brand has been derived, the jewellery too have a royal taste and lineage. Crafted with the Indian heritage, art and rich culture, the Amrapali jewellery is the living testimony to the rich craftsmanship of the country. Its majestic appeal has spell magic over the fashion and the glamour world.

Amrapali Jaipur is a celebration of the timeless Indian art of adornment and authentic master craftsmanship. Breathing new life into centuries-old traditions of jeweler, Amrapali embodies a unique, bold and eclectic style. Like the legend of its namesake, a renowned courtesan of ancient India, Amrapali Jaipur is the expression of a mysterious, eternal world of delight.

Amrapali has made Jaipur the center stage of fashionistas. It has been the most favoured brand of the rich and famous world ever since its inception in 1978. Over the years of excellence and exquisiteness, Amrapali has created a fan club of several famous families like Hermes, Corum, Porche, and Barbie-Muller. The Amrapali rage has also caught the imagination of glamorous stars of Hollywood and Bollywood equally. Be it Hollywood’s Jennifer Lopez, Angelina Jolie, Penelope Cruz, and Rihanna or the Indian beauties like Sonam Kapoor, Vidya Balan, Kajol, Deepika Padukone, Madhuri Dixit, Kirron Kher and Konkana Sen, the jewellery from Amrapali has definitely added zing to their glamour quotient. Almost every known face in the glamour world has adorned its creations either for a shoot or on the red carpet. Amrapali Jewellery was also seen in famous movies like Troy, Goliyon ki Raasleela- Ramleela and Khoobsurat (2014), The Second Best Exotic Marigold Hotel, Baahubali -1, Baahubali -2, Jaanisaar and Kaatru Veliyidai, Manikarnika, Sye Raa Narasimha Reddy, Tumbbad etc.

The founders of Amrapali were also invited to meet the Queen at Buckingham Palace to mark the official start of the UK-India Year of Culture in February, 2017. Amrapali Jewels also showcased ‘Holi,’ their exclusive life-size replica of a baby elephant at the official preview of the Elephant Parade India in New Delhi where the CEO’s Tarang Arora & Akanksha Arora met Royal Highnesses, The Prince of Wales and the Dutchess of Cornwall.

Amrapali Jewels loyal clientele include royalty, corporate honchos and celebrities from across the globe, including a list of honoured customers like Mr. Shimon Peres Ex-Prime Minister of Israel, Her Majesty AshiWongchuk Queen of Bhutan, Maharani Padmini Devi and Princess Diya of the Jaipur Royal Family.

The Duchess of the Cambridge, Kate Middleton was also spotted wearing Amrapali Earrings at Charity Bollywood Gala, during her royal visit to India, 2016

Princess Benedikte of Denmark recently visited Amrapali’s store in Jaipur and was seen wearing and appreciating Amrapali Jewellery.

Amrapali is the only Indian Jewelry designers to present their collection in Fashion Weeks of Milan and New York.

Amrapali Jewelry is available in over 33 outlets, including major markets throughout the world- New Delhi (also at Indira Gandhi International Airport, Terminal 3), Mumbai (also at the International Airport- Terminal T2), Bangalore, Hyderabad Chennai, Kolkata, Jaipur,London, New York; franchise stores and leading department (Harrods) and specialty stores.

Combining the essence of Amrapali with an experimental design philosophy, Tribe Amrapali creates contemporary and affordable design for a younger audience. Defined by a more vibrant and dramatic energy, it brings a new dimension to traditional jewellery, in the same eclectic spirit of Amrapali Jaipur.

Heritage Jewellery House Amrapali Jewels has launched a Museum in Jaipur after several years’ work spent in documenting and researching the collections. Conceptualized and founded by the Amrapali founders, Rajiv Arora and Rajesh Ajmera, the museum will showcase traditional silver jeweled arts of India reflecting the ‘everyday’ life of the people of India. The museum seeks to be a haven for scholars, students, connoisseurs and other visitors to Jaipur, who will get to explore the heritage and history of India through the jewellery and artifacts.

Amrapali Jewels and famed designer Raghvendra Rathore have come together to launch the Gurukul School of Design in 2018, located in the vibrant and historic city of Jaipur. GSD offers a unique Fashion Design Program delivered by world class international and Indian faculty.

Bengaluru, 30th October 2023 : T A Pai Management Institute (TAPMI), in collaboration with Southampton Business School, UK, kickstarts two-day Global Leadership Conference 2023 at Manipal Academy of Higher Education (MAHE), Bangalore campus today. Focused on the theme “AI Powered Leadership: Navigating the Future of Business and Society”, the event saw participation from business leaders of corporate organisations. Dr. Ekroop Caur, Secretary, IT, BT and S&T, Government of Karnataka inaugurated the conference and delivered a keynote address on “The Impact of Artificial Intelligence on Governance”.

Talking about the importance of using AI for the benefit of the society at large, Dr. Ekroop Caur, said, “AI has become an integral part of our daily lives and the business world. It is reshaping industries, redefining leadership paradigms, and influencing society in profound ways. As we embrace AI in leadership, we must confront critical societal impacts. We must ensure that technology we harness aligns with our values, and promotes fairness, transparency, and accountability. It is also imperative for us to prepare our future talent pool for this technology and integrate it at an institute level. It’s thrilling to see B-schools like TAPMI embracing it at an early stage and initiating proactive conversations around adoption of AI.”

Prof Madhu Veeraraghavan, MAHE Pro VC, highlighted the need for a strong regulatory and ethical framework in harnessing AI for Social good. He said, “In the age of AI-powered future leadership, we must consider its societal impact and foster collaborations. Our world operates as a vast game of information and data, and there is a need for a strong regulatory and ethical framework to harness AI. With 8 billion carriers of natural intelligence, our approach should be humane, human-centric, and in alignment with the principles of Mother Nature.”

During the conference, TAPMI and Southampton Business School announced their partnership and signed a Memorandum of Agreement (MoA) for a unique program where TAPMI BBA (Honors) students will have the opportunity to pursue a one-year MSc at the University of Southampton and receive the MSc degree from SBS-UoS.

Prof Aditya, Dean TAPMI Bengaluru highlighted that the partnership with SBS will create an opportunity for TAPMI BBA ( Hons) Students for dual certification ( BBA from TAPMI and MS from SBS) in a 4 year time span.

Prof Stephan Onggo from University of Southampton Business Schoolsaid “ This agreement between TAPMI and SBS is the beginning of a bigger and stronger collaboration between the two institutions. I am very happy that we have reached this important milestone in our relationship. This stronger relationship benefits the students from both institutions and brings the two countries closer together.”

On the first day of the conference, TAPMI hosted various panel discussions on new-age technology, where experts from across industries deliberated on adoption of ONDC, generative AI, prepping future workforce for new-age tech and use of AI in various industries.

Mr Shireesh Jain from Chief Business Officer from ONDC elaborated that the network democratized E commerce opportunity, empowering millions of small retailers and service providers to generate incremental sales opportunities. The design of the network will connect buyers and sellers with an enabling ecosystem all at a very low transaction cost.

Speaking about the future of AI, Mr. Amit Nahat, Director of Content, Tata Digital said, “Gen AI holds tremendous promise in education, particularly in the early discovery phase. It’s a powerful tool for upskilling and offers a unique perspective on product design. However, it’s essential to refine the areas where elements were like AI hallucinations. It facilitates a personalized teaching experience, acting as a virtual assistant when students encounter challenges, allowing for personalized learning plans. But, as we move forward, we must be mindful of the ethical concerns surrounding the extent to which we may infringe on human intelligence. Gen AI is incredibly efficient, yet it’s crucial to remember that it’s not a one-size-fits-all solution.”

The discussions elaborated on the pivotal and disruptive nature of AI and how it could fundamentally change business, automation and decision making.

Mumbai, 30th October 2023: The luxury housing segment maintains a seemingly unstoppable growth curve in 2023, with overall sales rising steeply across the top 7 cities. Latest ANAROCK Research data finds that out of approx.- 3.49 lakh units sold in these cities in the first nine months of 2023, about 24% or approx. 84,400 units were luxury homes priced >INR 1.5 Cr.

In the same period of 2022, just 14% (approx. 39,300 units) of approx. 2.73 lakh units sold in same period of 2022 were in the luxury category. This denotes a steep 115% annual rise in the number of luxury units sold between January to September 2023 against the corresponding period in 2022.

Anuj Puri Anuj Puri, Chairman – ANAROCK Group, says, “MMR, NCR and Hyderabad out-performed the other cities in luxury housing sales in 9M 2023, with these three cities together accounting for approx. 63,390 units sold. In the same period in 2022, just 30,820 luxury homes – less than half of the current year’s 9-month tally – were sold in these three cities. Interestingly, none of the top 7 cities saw any deceleration in luxury housing sales. In fact, they all went into overdrive.”

Luxury Housing Sales across Top 7 Cities (Units)
Cities	9M 2023	9M 2022	% Y-o-Y Change
NCR	13,630	6,210	119%
MMR	36,130	20,820	74%
Bangalore	9,220	3,810	142%
Pune	6,850	2,350	191%
Hyderabad	13,630	3,790	260%
Chennai	3,330	1,370	143%
Kolkata	1,610	950	69%
Total	84,400	39,300	115%

Source: ANAROCK Research

 

• Hyderabad saw luxury housing sales increase by a whopping 260% in this period with approx. 13,630 units sold in 9M 2023, from approx. 3,790 units sold in 9M 2022. Approx. 44,220 homes across all budget categories were sold in the city in 9M 2023, with the luxury share at 31%.
• MMR saw luxury housing sales increase by 74% annually – from approx. 20,820 units in 9M 2022 to approx. 36,130 units in 9M 2023. The city saw approx. 1,11,280 units sold across all budget categories in 9M 2023, of which the luxury share was 32%.
• NCR saw luxury housing sales rise by 119% in this period – from approx. 6,210 units in 9M 2022 to approx. 13,630 units in 9M 2023. Approx. 49,480 units were sold in the region across all budget categories in 9M 2023, of which luxury accounted for 28%.
• Pune saw luxury housing sales increase by 191% annually – from approx. 2,350 units in 9M 2022 to approx. 6,850 units in 9M 2023. Approx. 63,480 units were sold in the city across all budget categories in 9M 2023, of which the share of luxury stood at just 11%.
• Bengaluru saw a 142% annual jump in luxury units sold – from approx. 3,810 units sold in 9M 2022 to approx. 9,220 units sold in 9M 2023. The city saw approx. 47,100 units sold across all budget categories in 9M 2023, of which the share of luxury stood at 20%.
• Chennai saw luxury housing sales rise by 143% in this period – from approx. 1,370 units in 9M 2022 to approx. 3,330 units in 9M 2023. Of approx. 16,310 units sold in the city across all budget categories in 9M 2023, luxury accounted for a 20% share.
• Kolkata saw luxury housing sales increase by 69% annually – from approx. 950 units sold in 9M 2022 to approx. 1,610 units in 9M 2023. Of approx. 17,280 units sold in the city across all budget categories in 9M 2023, luxury accounted for just 9%.

 

30th October 2023, Hyderabad: Music lovers gathered eagerly at The Hyderabad Public School in Begumpet to witness a magical ghazal concert by the renowned maestro Talat Aziz. The grand event presented by Jagirdars College & The Hyderabad Public School Old Students Association was part of the school’s year-long centenary celebrations and was made more special with the ghazal rendition from its stellar alumnus Mr. Talat Aziz.

The ghazal evening was filled with nostalgia and celebrations. It united individuals through their shared love for Ghazals and created lasting memories for everyone present.

For Talat Aziz Maestro, performing at his alma mater was more than just a typical event. It was a homecoming, a return to his roots. His joy and excitement were evident as he prepared to pour his heart into his performance for the school that had played a significant role in nurturing and shaping his life. On performing at HPS he said, “It is wonderful to be back to the place that shaped me as a person and educated me in multiple ways. It was as if I was here only yesterday filled with the joys of schooling under the watchful eyes of my dear teachers. I have been coming back here, and every visit is worth cherishing. It is great to see Hyderabad grow the way it has by leaps and bounds, and very nice to see HPS celebrating its hundred years. I wish you more success in the future.” He shared anecdotes from his school days giving the audience a glimpse into the artist’s formative years at HPS which added a personal touch to the evening.

The open-air theater, with a capacity of 2,000 enthusiastic audiences, was transformed into a realm of melodies and emotions for this musical spectacle. Talat Aziz began by singing some of his timeless Ghazals, each note infused with nostalgia. His voice resonated through the hearts of the audience, leaving them spellbound.

From the classics to his own compositions, the maestro had everyone swaying to his tunes. It was an evening that transcended time and transported the audience to a world of poetic beauty.

The Hyderabad Public School’s centenary celebrations were a tribute to the school’s remarkable journey over the past hundred years. Distinguished alumni who had achieved great success in various fields were honored, making it a truly momentous occasion. The two-hour concert was a beautiful blend of music and emotions, leaving an enduring mark on all those fortunate enough to be there.

Mumbai/Jaipur | 30th October 2023: The Board of Directors of AU Small Finance Bank Limited at its meeting held today, approved the financial results for the quarter ended September 30, 2023.

Executive Summary

Q2’FY24 domestic inflationary pressure was persistent, and the monsoon progress remained below the historical average for the month of August. This coupled with uncertain global macro situation ensured that the interest rates remained elevated, and the systemic liquidity continued to remain tight. Amidst this backdrop, the Bank once again delivered a stable quarter with growth seen across business parameters be it deposit mobilization, credit growth, acquisition and engagement in digital products and others. The Bank delivered a consistent performance and saw sustained growth in each of these metrices.

Bank has launched its new brand campaign “Soch Badlo aur Bank Bhi” continuing our “Badlaav Humse Hai” philosophy to bolster our brand and connect with our customers.

On World Sustainability Day, Bank had launched its first “Green Fixed Deposits” called “Planet First” to cater and support renewable and green projects and address climate change risks and reduce emissions. This product, rated by CRISIL, is compliant with RBI’s latest framework.

Performance at a glance (Q2’FY24):

Profitability

• Pre-provisioning operating profit (PPoP) for Q2’FY24 grew 30% YoY to ₹ 648 Crore compared to ₹ 499 Crore in Q2’FY23
• Net profit at ₹ 402 Crore in Q2’FY24 grew 17% YoY compared to ₹ 343 Crore in Q2’FY23
• Net Interest Income (NII) grew 15% YoY to ₹ 1,249 Crore compared to ₹ 1,083 Crore in Q2’FY23.
• Net Interest Margin (NIM) for Q2’FY24 stood at 5.5%
• The Return on Asset (ROA) and Return on Equity (ROE) stood at 1.7% and 13.9% respectively even as we continue to invest in digital, branding, products and distribution to build a future ready bank.
• Cost of funds rose by 12bps QoQ to 6.70% with average CoF for H1’FY24 at 6.64%
• CRAR was 22.4% and Tier I at 21.0% as on 30^th Sep’23

 

Deposits

• The total deposits crossed ₹ 75,000 Crore mark to reach ₹ 75,743 Crore compared to ₹ 58,335 Crore in Q2’FY23; Growth of 30% YoY and 9% QoQ
• CASA deposits increased by 4% YoY to ₹ 25,666 Crore compared to ₹ 24,674 Crore in Q2’FY23; CASA ratio stand at 34%
• Bank has hiked FD rates and SA rates up by 25 basis points in selective buckets during the quarter

Advances

• The Bank’s Gross advances grew by 24% YoY to ₹ 65,029 Crore in Q2’FY24 compared to ₹ 52,452 Crore in Q2’FY23; CD ratio at 85%
• Of the total advances, Vehicle Loan contributes 32% and Micro Business Loans (MBL), Home Loan as well as Commercial Banking Loans contribute 29%, 8% and 23% respectively
• Wheels and MBL (erstwhile SBL) portfolio (incl. securitized) crossed landmark of ₹25,000 Cr and ₹20,000 Cr respectively
• 88% of loan book is retail in nature and 91% remains secured

Asset Quality

• Bank’s asset quality stand (GNPA) at 1.91% in Q2’FY24 vs 1.90% in Q2’FY23. On a QoQ basis, GNPA increased 15 bps from 1.76% as on Q1’FY24. ~8bps of GNPA increase can be attributed to low base effect as we have securitised ₹2,922 Cr of loan assets in this quarter
• Net NPA stood at 0.60% of the Net advances in Q2’FY24
• Provisioning Coverage Ratio (PCR) remain stable at 69% (73% including technical write-off and floating provision)
• Bank is carrying ₹96 Cr of provisions against contingency and standard restructured book. Additionally, bank has Floating provision of 41 Cr

 

 

Payments and Digital Bank AU 0101

• Credit Card:

o   Crossed a milestone of 7 Lac live credit cards

o   Monthly spend now at ₹ 1,350 Crore in Sep 2023

o   Out of the total live credit cards, 72% cards have been issued to New to Bank (NTB) customers

 

• Video Banking:

o   Total deposits of customers onboarded via video banking channel stands at₹ 1,400 Crore+

o   90K service and engagement video calls received in Q2’FY24

o   Facilitated in opening 3.7 Lac+ CASA account and 2.3 Lac+ credit cards, since the launch

 

• AU 0101:

o   Share of digital transaction by our CASA customers remain stable at 98% in Q2’FY24. The consistently improving digital adoption has helped improve the Monthly Active Users (MAU) on our AU 0101 digital banking app

o   The customer base using our digital properties like AU 0101 increased to 24.2 Lac in Q2’FY24 from 14.3 Lac in Q2’FY23. Of these, 13.1 Lac customers have been availing services actively on monthly basis

• AU UPI QR:

o   ~1.1 Mn UPI QRs installed till Q2’FY24

o   Over ₹ 320 Crore worth of loans disbursed to the merchants using AU UPI QR by monitoring the transactions on the platform. Average ticket size of this loan has been ~₹ 2 Lacs

Network

• Keeping in line with our strategy to grow our distribution network, we have added 4 touchpoints during the quarter and for the full year, Bank plans to open 50+ touchpoints additionally
• We are now present in 21 states and 3 UTs with 1,042 physical touchpoints

Credit Rating

• CRISIL AA+/Stable for Fixed deposit program
• CRISIL AA/Stable for Tier 2 Bonds
• CRISIL A1+ for certificate of deposit program

 

 

H1’FY24 highlights

Profitability

• The Bank’s pre-provisioning operating profit (PPoP) for H1’FY24 grew 34% YoY to ₹ 1194 Crore compared to ₹ 893 Crore in H1’FY23. The net profit at ₹ 789 Crore in H1’FY24 grew 29% YoY compared to ₹ 610 Crore in H1’FY23
• The Bank’s Net Interest Income (NII) grew 21% YoY to ₹ 2,495 Crore compared to ₹ 2,059 Crore during H1’FY23.
• Net Interest Margin (NIM) for H1’FY24 stood at 5.6% compared to 6.0% in H1’FY23
• The Return on Asset (ROA) and Return on Equity (ROE) stood at 1.7% and 13.9% respectively

 

Other key updates

• Net worth of the Bank has now surpassed ₹ 11,750 Cr, a growth of 5x in ~5 years
• The Bank has expanded its presence and its physical network is now spread across 1,042 touchpoints as on September 30, 2023 across 21 states and 3 UTs
• All 3 rating agencies, CRISIL Ratings, CARE Ratings and India Ratings have rated the Bank as “AA/Stable”
• The Bank has tied-up with Max Life Insurance, Bajaj Alliance and Star Health Insurance as Bancassurance partner with a view to expand the Bank’s third-party product offering to our customers.
• On the CSR front, AU Ignite, the bank’s skills training academy, celebrated its fifth year of success, having imparted skills training to over 15,800 candidates with an impressive 78% record in providing placement assistance.

Awards and Recognitions

• AU Bank received “India’s Best Small Finance Bank 2021-22” by Financial Express Awards 2023.
• AU Bank won “Award of Excellence” by PFRDA for achieving 100% target in Atal Pension Yojana (APY).
• AU Bank was awarded “Most Impactful Women Employment Initiative of the Year” by Indian CSR Awards 2023 for “AU Udyogini” initiative.
• 

Commenting on the performance, Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank said, “The global environment remains challenging with uncertainties around geo-politics, supply chain disruptions and inflation continuing to put persistent pressure on interest rates. The Indian economic environment looks strong and resilient and continues to provide a multitude of growth opportunities across various sectors. However, challenges around inflation, liquidity and disruptions in weather patterns remain, warranting caution as a lender and we remain watchful and responsive in calibrating our strategy.

 In this backdrop, our performance in Q2’FY24 was resilient and sustainable with growth across deposits, digital and advances. This resilience is further complemented by the positive outlook in AU markets, where there are promising prospects for growth and market penetration. Our key strategic focus is on building low-cost retail deposits, even in the current environment of elevated costs and intense competition. Our newely created ‘Swadesh Banking’ group is focused on furthering our financial inclusion strategy by penetrating deeper in rural India, where a significant unbanked population resides. Additionally, our new brand campaign “Soch Badlo aur Bank Bhi” will continue to establish a robust brand presence and foster top-of-mind recall. 

While being watchful, I am quite optimistic about the Indian economy in the long term and the banking sector looks poised for sustained period of growth. The business is excelling on all fronts, instilling great confidence in us to affirm our FY24 guidance set forth at the start of this fiscal year and we continue to focus on sustainable growth, aiming to further fortify our balance sheet.”