May 10, 2023, New Delhi: The economictimes.com brings you exclusive coverage of the upcoming Karnataka assembly elections, the polls that open the election season ending with the Lok Sabha elections next year.

In the run-up to the elections, the economictimes.com’s blanket coverage of the high-intensity contest will include mood and trends in key constituencies, profiles of main candidates, curation of verbal battles, tracking of issues that shape the electoral discourse and deep insights into strategies and tactics of various parties and candidates. The ET website will parse the polls for you with quick takes, in-depth articles, expert opinion, liveblogs, multimedia coverage and videos from ground zero.

On the day of the results, the economictimes.com will run a results live blog and an animated results dashboard, in addition to commentary on key victories and defeats as well as analysis of overall results. A post-election stock-taking will round off the economictimes.com election coverage with various articles, stories and opinion pieces.

Commenting on the election coverage, Sanjeev Kumar, Business Head, ET, said, “The ET website is well-known for its comprehensive coverage of finance, business and economy news, offering deep insights into diverse trends and events. Given Karnataka’s significant economic importance and the intense competition between the three major parties in the upcoming assembly elections, ET website’s detailed coverage of the crucial polls will further enhance its reputation as a leading source for the audience to understand significant events.”

by Blox, India’s first technology-based and consumer-centric real estate buying platform

In the digitization era, buying everything online has become a norm. With the easy accessibility of smartphones, wi-fi along with the online transaction platforms, people have the luxury to buy anything in convenience of a single click. Though people are still inclined towards the traditional norms in real estate sector, the scenario is slowly changing.

Here are five prime reasons for booking homes online-

• • More transparency:In order to standout and be transparent in a bid, the property developers are providing home specification or exact floor planning information. A few developers are taking help of advanced technologies like virtual reality (VR) walkthroughs and conversational chat desks to offer sufficient information to the buyers.
  • Implementation of Government policies like RERA: With the consumer-friendly government policies like Real Estate Regulation Act (RERA), it has become mandatory for all the property developers to register and provide specific details about their projects with authorities for the sake of the home buyers. The detailed online information allows the consumers to cross check the reputation, credentials and project delivery track record of the developer before investing their savings in to a project.
  • Attractive price rates on online pre-booked properties: The developers tend to offer maximum special offers like lower interest rates, freebies, discounts etc at the initial phase of their projects. In such cases pre booking properties can prove to be affordable for the buyers. To avail the price benefits and book the property, the buyers need to pay the advance money online and then they can pay the rest in instalments.
  • Online availability of home loan documentation and sale agreements: The home buyers, especially the first-time home buyers often find the heaps of various types of home buying paperwork confusing. This can derail their whole home buying experience. However, with all the online information available on home buying platforms, the buyers can conveniently pay the booking amount and can complete the paperwork later.
  • Smooth availability of online bookings: Another boon for the online home buyers is that the service is available 24*7. With a smartphone and internet access, the buyers can log in to any online property buying platform, check out and invest into any project by doing online transaction. The whole process is both time and money saving as the buyers need not to go to multiple project sites every time.

With the various benefits offered by the online home buying platforms, opting for online home buying is becoming a trend. With the rising number of young home buyers, developers and sellers are also taking help of these online platforms. Therefore, it can be said that the online home buying trend is going to get stronger in real estate sector with each passing year.

by Blox, India’s first technology-based and consumer-centric real estate buying platform

Buy or rent a property- an eternal question for all the home hunters. Nowadays, more people are staying away from their hometown to different cities for work. In such cases, renting a property may sound tempting. But buying a property will always be financially beneficial in the long run.

Here are 6 advantages of buying a home over renting-

1.  Easy financial options:Now buying a home becomes easy with the surging availability of finance options. People do not need to wait till their old age to buy a home with their lifelong savings. Buyers need to carefully select a home loan lender who can offer flexibility in managing the home loan repayment by tailoring the home loan EMI to suit all present and future income patterns of the buyer
2. Building own asset:Paying chunks as rent is a pure expenditure. Instead, one can pay the home loan EMI with that much amount and build own asset over time. With every paid EMI, the equity of the buyer in home goes up.
3. Tax benefits on home loan:Home loan principal and interest repayment usually fetch the owner attractive tax breaks. On the contrary, the renters do not earn any interest on the deposit amount paid to the owners which is pretty high at prime locations.
4.  Home as investment:Buying a property in a city brings a sense of permanency and belongingness. Besides property prices generally appreciate over the long term. Delaying the property purchase will result in investing a higher amount which includes the paid rent over an extended period of time.
5.  No landlord hassle:Living in a rented property means dependency on the landlord for almost everything such as electricity, maintenance, water etc. Where owning a home means having authority on everything-be it the minor repairs to complete revamping of the entire home.
6.  No compromise: Renting a property means an additional expense which leads to cut down other expenditure. Therefore, people often compromise on different aspects such as size, locations and amenities. While owning a property means it will meet all the expectations of the owner.

With the surge in income levels, availability of easy and innovative loan options, higher disposable incomes, tax incentives etc a home purchase appears a viable proposition any day. Apart from a boost in acquired wealth, buying home gives a sense of achievement abiding by the social norms.

Mumbai, 10th May 2023: Colorbar Cosmetics, one of India’s leading cosmetics brands, is pleased to announce its retail expansion plans for Maharashtra, one of the most significant markets in the West region of India. With an extensive presence across 200 cities in India, Colorbar aims to strengthen 100 new stores in the in the West region, out of which 78 will be in Maharashtra, which is a testament to its unwavering dedication to broadening its reach across the country.

The brand is set to expand its reach to 20 more cities in India in 2023, with Mumbai, Pune, Nashik, Amravati, Nagpur, and Kolhapur leading 50% of the expansion.

Speaking on the subject, Mr. Samir Kumaar Modi, Founder and Managing Director, Colorbar Cosmetics said, “Maharashtra has always been one of the key performing markets for us and we are thrilled to unveil our plans for retail expansion in the state. Our aim is to establish a stronger foothold and bolster our position in the beauty industry driven by the philosophy of ‘Made for Magic’, and to deliver a unique and unforgettable experience to every individual by infusing color and magic into their lives. Furthermore, we are deeply committed to empowering individuals across India through the pioneering initiative – BA Programme. This innovative program embodies the belief ‘Dare to Dream’ and offers unique incentives that are designed to help individuals embark on a ‘magical journey’ that creates pathways to achieve financial independence”.

Colorbar Cosmetics strives to be a multifaceted force for positive change, with the goal of promoting equality and economic empowerment for everyone. The brand has 3,000 Beauty Advisors, with women representing over 70% of this talented cohort. These Beauty Advisors are presented with a remarkable opportunity to earn up to INR 2,00,000 (two lakh rupees) per month, alongside numerous additional benefits such as medical insurance, home and car ownership, and other attractive perks which is an industry first move. Through their BA Programme, Colorbar Cosmetics is creating a new paradigm for success and inspiring a new generation to achieve their full potential and attain emotional and financial freedom.

The brand has also introduced Project Lagan, a program that recognizes the contributions of its Beauty Associates by providing them with a wedding shagun worth INR 50,000 upon completing a five-year tenure with the brand.

Colorbar Cosmetics is a brand that is at the forefront of innovation, consistently pushing the boundaries of the beauty industry to introduce products that redefine the Indian beauty market. Demonstrating its dedication to sustainable practices, the brand recently unveiled its latest offering, India’s first-ever refillable lipstick ‘Take Me As I Am,’ a revolutionary product that reflects the brand’s commitment to clean and sustainable beauty. This launch marks a significant milestone for Colorbar and emphasizes the brand’s relentless efforts to develop eco-friendly products, that are ultimately revolutionizing the beauty industry.

The brand also introduced a personal care brand ‘Co-Earth’, from the house of Colorbar, a brand that is built on the fundamental belief of co-existing with Mother Nature. Its personal care solutions are derived from nature, and the brand follows a Clean Beauty Promise. Co-Earth gives back to nature by contributing a significant portion of its sales to impactful conservation and rescue efforts that protect and save endangered species, such as elephants, bears, leopards, rhinos, and tigers.

May 10, 2023: Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA) a diversified gaming and sports media platform announced its audited Standalone and Consolidated results for the quarter and full year ended 31st March 2023.

The company delivered strong numbers powered by growth across all major segments and surpassed an important milestone of INR 1000 cr in annual revenues as well as 100 cr in EBITDA.

Key Consolidated Financial Highlights for FY23 are as follows:

• Revenue grew by 75% to INR 10,910 Mn (INR 1,091.0 Cr) as against INR 6,217 Mn (INR 621.7 Cr) in FY22
•  EBITDA grew by 16% to INR 1,097 Mn (INR 109.7 Cr) as against INR 946 Mn (INR 94.6 Cr) in FY22
•  Revenue growth has been broad based with all three segments of the company showing strong growth- 28% revenue growth in gaming, 75% in eSports and 53% in adtech
•  PAT growth of 21% in FY23 – INR 614 Mn (INR 61.4 Cr) as against INR 507 Mn (INR 50.7 Cr) in FY22
•  Cash & Cash Equivalents (incl. liquid investments) of INR 6,283 Mn (INR 628.3 Cr) as of 31st March 2023

Key Consolidated Financial Highlights for Q4FY23 are as follows:

•  Revenue rose by 65% to INR 2,893 Mn (INR 289.3 Cr) as against INR 1,751 Mn (INR 175.1 Cr) in Q4FY22
•  EBITDA increased by 86% to INR 277 Mn (INR 27.7 Cr) as against INR 149 Mn (INR 14.9 Cr) in Q4FY22
•  PAT increased by 92% to INR 94 Mn (INR 9.4 Cr) as against INR 49 Mn (INR 4.9 Cr) in Q4FY22

Commenting on the FY23 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

“We are delighted to report another milestone year for Nazara. Our strong performance in FY23 with revenues surpassing the INR 1,000 crores mark at INR 1,091.0 crores and EBITDA surpassing the INR 100 crores mark at INR 109.7 crores is a testament to the hard work and dedication of our team, as well as our strategic investments in high-growth segments. We believe India is well on its way to becoming the Gaming Nation of the world in the years to come and we will continue to play a pivotal role in this journey.”

The company also announced that it will increase its stake in Nextwave Multimedia Private Limited, which is the developer of the popular World Cricket Championship from 52.38% to 71.88% to consolidate its ownership.

“WCC has established itself as the leading mobile cricket game franchise globally with millions of active gamers and has developed a very high-end cricket simulation engine on top of which many new games can be launched. We believe the potential of this popular franchise is significant for us in the years to come and are happy to have had the opportunity to increase our ownership. We will continue to work closely with the team to provide an enhanced gaming experience to cricket enthusiasts all over the world.”

May 10, 2023: Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA) a diversified gaming and sports media platform announced its audited Standalone and Consolidated results for the quarter and full year ended 31st March 2023.

The company delivered strong numbers powered by growth across all major segments and surpassed an important milestone of INR 1000 cr in annual revenues as well as 100 cr in EBITDA.

Key Consolidated Financial Highlights for FY23 are as follows:

•  Revenue grew by 75% to INR 10,910 Mn (INR 1,091.0 Cr) as against INR 6,217 Mn (INR 621.7 Cr) in FY22
•  EBITDA grew by 16% to INR 1,097 Mn (INR 109.7 Cr) as against INR 946 Mn (INR 94.6 Cr) in FY22
•  Revenue growth has been broad based with all three segments of the company showing strong growth- 28% revenue growth in gaming, 75% in eSports and 53% in adtech
•  PAT growth of 21% in FY23 – INR 614 Mn (INR 61.4 Cr) as against INR 507 Mn (INR 50.7 Cr) in FY22
•  Cash & Cash Equivalents (incl. liquid investments) of INR 6,283 Mn (INR 628.3 Cr) as of 31st March 2023

Key Consolidated Financial Highlights for Q4FY23 are as follows:

•  Revenue rose by 65% to INR 2,893 Mn (INR 289.3 Cr) as against INR 1,751 Mn (INR 175.1 Cr) in Q4FY22
•  EBITDA increased by 86% to INR 277 Mn (INR 27.7 Cr) as against INR 149 Mn (INR 14.9 Cr) in Q4FY22
•  PAT increased by 92% to INR 94 Mn (INR 9.4 Cr) as against INR 49 Mn (INR 4.9 Cr) in Q4FY22

Commenting on the FY23 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

“We are delighted to report another milestone year for Nazara. Our strong performance in FY23 with revenues surpassing the INR 1,000 crores mark at INR 1,091.0 crores and EBITDA surpassing the INR 100 crores mark at INR 109.7 crores is a testament to the hard work and dedication of our team, as well as our strategic investments in high-growth segments. We believe India is well on its way to becoming the Gaming Nation of the world in the years to come and we will continue to play a pivotal role in this journey.”

The company also announced that it will increase its stake in Nextwave Multimedia Private Limited, which is the developer of the popular World Cricket Championship from 52.38% to 71.88% to consolidate its ownership.

“WCC has established itself as the leading mobile cricket game franchise globally with millions of active gamers and has developed a very high-end cricket simulation engine on top of which many new games can be launched. We believe the potential of this popular franchise is significant for us in the years to come and are happy to have had the opportunity to increase our ownership. We will continue to work closely with the team to provide an enhanced gaming experience to cricket enthusiasts all over the world.”

RIYADH, May 10th, 2023: The Saudi Esports Federation (SEF) and Savvy Games Group (Savvy) today announced a significant partnership with a year-long sponsorship agreement that will showcase Savvy’s brands across the entire SEF ecosystem, including Gamers Without Borders (GWB) and Gamers8: The Land of Heroes.

This is the second year in a row that the two organizations have come together and following last year’s popular activations, Savvy and SEF will once again deliver exclusive on-ground and virtual experiences for gaming enthusiasts at this year’s highly anticipated events. The partnership also includes a series of initiatives designed to further Saudi Arabia’s mission to become a global hub for esports and gaming.

Turki Al Fawzan, CEO at the Saudi Esports Federation, said: “It is with great pleasure that the Saudi Esports Federation unveils this historic agreement with Savvy Games Group. Last year, Gamers Without Borders and Gamers8 demonstrated the huge gaming market in Saudi Arabia and the enormous potential for growth for the industry. With the extension of the partnership this year, there is so much to look forward to, whether it be for Saudi Arabian gamers or gamers across the globe.”

Brian Ward, Savvy Games Group CEO, said: “At Savvy, we are committed to driving the long-term growth and development of the global esports and games industry. We are excited to continue working closely with SEF to bring gaming enthusiasts an unforgettable experience and support its mission to build the largest esports festival in the world.”

GWB, the world’s largest charitable esports event, returned for the fourth consecutive year for six weeks from April 10. Held virtually by SEF, GWB serves as a qualifier for Gamers8: The Land of Heroes, the biggest esports and gaming festival worldwide, which takes place in Riyadh for eight weeks this summer beginning July 6.

In addition to GWB and Gamers8: The Land of Heroes, Savvy will be the presenting partner for SEF assets such as the Saudi eLeagues, Next World Forum, Voices of Saudi Esports, SEF Awards, Arab League, Gaming Centers’ Face-Off, Saudi Esports Academy, Esports Federation Championship, and Marhala Podcast. Savvy will also be a strategic partner for the National Esports Team.

Vadodara, May 10, 2023: Wardwizard Innovations and Mobility Ltd., one of India’s leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’, today announced its financial results for FY 2023 (April 2022- March 2023) and fourth quarter of FY’23 (Jan-March 2023).

Observing an uptick in demand for electric two-wheelers across the country, the company has achieved a revenue of Rs. 2,393 Mn (Standalone) in FY’23 compared to Rs. 1,851 Mn during the previous year, marking double-digit growth of 29.28%.

The company has closed the fiscal year (FY’23) with the highest-ever sales of 36,500 units of electric two-wheelers, recording a growth of 19% over the same period last quarter, where the sales stood at 30,761 units.

Further Profit After Tax (PAT) stands at Rs. 94 Mn in FY’23 compared to Rs. 85 Mn in the previous year.

In respect of the year ended March 31, 2023, the Directors recommend that a dividend of Rs. 0.10 per share be paid on fully paid equity shares.

Commenting on the performance of Q4FY’23, Mr Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility Ltd. said, “We are proud to announce the successful completion of FY’23, which has been an incredible year for Wardwizard Innovations despite the multiple market challenges. Wardwizard has achieved new milestones in the last fiscal and recorded an impressive annual revenue growth of 29.28%, a testament to the increasing trust our customers have in our brand. Additionally, we recorded an impressive annual sales growth of 19% this year. We have continuously innovated our strong product portfolio and latest technologies to meet the ever-evolving aspirations of our customers. Further, we expanded our portfolio with the entry into the electric three-wheeler segment to meet the aspirations of a wider customer base. Other than that, we have started up our own battery assembly line, which has a yearly capacity of 1 GWh. This will provide our products a competitive advantage as the Indian EV industry witnesses a behavioural shift towards cleaner and healthier mobility solutions, we remain committed to making eco-friendly mobility possible at every stage. Through our continued investments in R&D and diversification of our product line, we aim to further increase our market presence in FY23 and beyond. We remain steadfast in our mission to build a sustainable future and contribute to the growth of the nation’s economy.”

Highlights of the Financial Year FY’23 (April 2022 –March 2023)

India, 10th May 2023: Barracuda Networks, Inc., a trusted partner and leading provider of cloud-first security solutions, releases a new Threat Spotlight that shows how, in March, 2023 just under half (45.7%) of all HTML attachments scanned by Barracuda were malicious, more than double the proportion (21%) reported in May 2022. Barracuda researchers analyzed many millions of messages and files scanned by Barracuda’s security technologies.

HTML stands for Hypertext Markup Language, and it is used to create and structure content that is displayed online. It is also used in email communication – for example in automated newsletters, marketing materials, and more. In many cases, reports are attached to an email in HTML format (with the file extension .html, .htm or .xhtml, for example). Attackers can successfully leverage HTML as an attack technique in phishing and credential theft or for the delivery of malware.

The analysis further shows that not only is the overall volume of malicious HTML attachments increasing, nearly a year on from our last report, HTML attachments remain the file type most likely to be used for malicious purposes.

“The security industry has been highlighting the cybercriminal weaponizing HTML for years – and evidence suggests it remains a successful and popular attack tool,” said Fleming Shi, Chief Technology Officer, Barracuda. “Getting the right security in place is as important now as it has ever been. This means having effective, AI-powered email protection in place that can evaluate the content and context of an email beyond scanning links and attachments. Other important elements include implementing robust multifactor authentication or – ideally – Zero Trust Access controls; having automated tools to respond to and remediate the impact of any attack; and training people to spot and report suspicious messages.”

India, 10th May 2023: Casio India, the leading musical instruments company has launched its latest campaign, ‘No Screen Summer’, to motivate parents to explore alternative activities for their children during the summer holidays that don’t involve screens.

Increased screen time has been a growing concern among parents, especially since the pandemic started in 2020. To address this problem and create excitement and anticipation for the campaign, Casio India has launched a social media campaign showcasing the benefits of learning music and how it can help children develop creativity and cognitive skills. The brand has released teaser visuals designed to pique the interest of parents and encourage them to explore the idea of picking up a Casiotone Mini keyboard for their children under the age of ten years. This is followed by communication around the key campaign, emphasizing the role of music learning from an early age via creative storytelling.

To reach a wider audience, the brand plans to collaborate with mother influencers on social media platforms. They will promote the campaign and create engaging content showcasing the features and benefits of the Casiotone Mini keyboard. The sustenance phase of the campaign will involve maintaining engagement with the audience and emphasizing the benefits of learning music.

Commenting on the campaign, Kota Obayashi, Business Head (Music and Education), Casio India, said,

“As a brand that is dedicated to prioritizing the needs and desires of our consumers, we have consistently ensured that our product offerings provide meaningful value to their lives. Learning a musical instrument like a keyboard and playing it from an early age builds self-confidence, and enhances cognitive skills of kids. We have developed the ‘No Screen Summer’ campaign for Casiotone Mini keyboards, with a specific focus on targeting mothers of children under the age of ten years. This campaign highlights the adverse effects of excessive screen time on children and amplifies the numerous benefits of engaging in music as a healthy and enjoyable alternative.”