Archive: May 31, 2023

Karting Super Series sets Motorsport Passion Ablaze in Delhi

The penultimate round of the Karting Super Series in Delhi raised the bar of the karting competition where over 164 passionate motorsport fans fought it out hard on track to come out on top.

The hunt to find the nation’s next big karting talent is getting closer as the Karting Super Series marked its penultimate round in Gurgaon’s Kartomania go-karting track, a few kilometers away from the city of Delhi, before it will head to Hyderabad for the Grande Finale where the new karting talent would be crowned on 4 June 2023.

On 27 May, there was a threat of heavy rain that could have easily spoiled the day of the Qualifying, but in the end, it caused no disruption other than a 30-minute delay to the start. The circuit dried out quickly once the sun was out. Kartomania was a flowy circuit with seven corners, a couple of which truly tested the skill and control of the drivers as it was very easy to crash into the tyre barriers. Those having the control and keeping the kart on the racing line, clocked competitive lap times. The quickest time amongst the 164 participants in the Saturday Qualifying was 42.239 seconds by Gur Rajvansh.

Sunday was an action-packed and exciting day where the Top 36 qualifiers got to race each other. Divided into four batches of nine, the Top 36 raced for eight laps from which the first five finishers took part in the Semi-Finals. Out of the ten drivers in each of the two Semi-Finals, again the first five finishers would take part in the Finals. The Top 10 battled it out hard for 12 laps before we got our Top 6 who would then proceed to the Grand Finale in Hyderabad. Gur Rajvansh secured a Grand Slam by qualifying first, topping every race session, and clocking the fastest lap.

The following are the Top 6 of Round 5: Delhi-

1. Gur Rajvansh

2. Dhruv Chavan

3. Arjan Talwar

4. Pratham Kumar

5. Yuvrraj Singh

6. Rachit Singhal

Yuvrraj Singh, who qualified 17th, was the Mobil 1 Powered Driver of the Day for his overtaking abilities in the Heats and finishing P5, starting from P10.

The Karting Super Series moves to the city of Hyderabad one last time for the final round and Grand Finale on 3rd-4th June 2023 in Chicane Circuit.

Scaler acquires a Delhi-based education platform Pepcoding

Mumbai, 31st May 2023: Scaler (by InterviewBit), one of the fastest-growing tech education startups, today announced the acquisition of a Delhi-based education platform, Pepcoding, for an undisclosed amount to strengthen Scaler’s business ecosystem. The acquisition will further accelerate growth and support across various business units, including strategy, product design, B2B enterprise, operations, and instructor org. This is the fourth acquisition for Scaler; AppliedRoots, Coding Minutes, and Coding Elements were the other edtech brands acquired over the last two years.

With the acquisition of Pepcoding, Scaler aims to bring synergies between the two companies to strengthen its offering in the tech education space. As a strategic move, Pepcoding has merged with Scaler. Its co-founder, Sumeet Malik, has joined the startup as an instructor and content creator to help improve the learner experience, especially in the Low-Level Design (LLD) curriculum. Other Pepcoding employees have joined Scaler as full-time employees working across diverse teams. The Pepcoding team will also play a vital role in developing Scaler School of Technology, a newly launched 4-year residential undergraduate program in Bengaluru. As Scaler opens its doors to the first batch of students this academic year, the team’s expertise will play an essential role in the building and execution of the program.

Abhimanyu Saxena, Co-founder of Scaler & InterviewBit, announced the acquisition: “We are delighted to welcome the PepCoding team to the Scaler ecosystem. Sumeet’s team has demonstrated a unique ability to stay true to its core ability to transform the learning experiences of young engineering students. Their experience with undergraduate students will come in handy to our recently launched residential undergraduate program, the Scaler School of Technology. Pepcoding’s diverse talent pool and Sumeet’s extensive industry expertise will help accelerate the pace we are working towards achieving our vision and mission.”

Founded in 2017, Pepcoding had a similar vision as Scaler to democratise tech education. Their goal was to bring in ‘The Great Indian Coding Renaissance’. The education platform specialises in Data Structure & Algorithms (DSA), Web Development, Data Science, CORE, CBSE, GATE & Business Analytics. Pepcoding provided a platform for undergraduate students with both offline and online courses that enabled them to improve their coding skills, learn with like-minded people and secure employment opportunities across leading companies. The team has worked with over 5000 learners since its launch in 2017, empowering them to make successful career transitions.

Sumeet Malik, Founder and CEO of Pepcoding, said. “We are excited to be a part of one of the fastest-growing tech education companies in India and work towards the shared vision of nurturing future-ready technology talent. Like Scaler, we are excessively focused towards the success of our students and firmly believe that the nation has enough raw talent to one day build products and companies that will dominate the world, similar to what organisations like Google, Microsoft and Uber have done. All they need is the appropriate direction and access to opportunities. This strategic union with Scaler will help us take a step towards revolutionising how India learns and works with technology. “

Sumeet Malik holds a Bachelor’s degree in Computer Science and has worked with Indus Valley Partners, Avalon Information Systems and Nagarro before laying the foundation of Pepcoding.

Godrej & Boyce to invest INR 100 Crores in its Material Handling Business

Bangalore, 31st May 2023: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej RenTRUST, a leading player in the material handling rental industry, has planned to invest INR 100 crores in capital assets over the next three years. This strategic move comes as the company foresees a significant surge in material handling requirements across the country. In Q4 of FY23, Godrej RenTRUST secured orders deploying 100+ units of equipment to esteemed clients across multiple industries such as shipping, 3PL, e-commerce, FMCG, manufacturing, and F&B, demonstrating the company’s commitment to long-term partnerships.

With a strong belief in the potential of the rental market, Godrej RenTRUST aims to cater to the evolving needs of industries including auto, engineering, chemicals and pharma, F&B, FMCG, logistics, 3PL, ecommerce and retail.

The Indian rental market, estimated at INR 2200 crores, has shown a remarkable growth trajectory, with the organized segment gaining ground year after year. By opting for equipment rentals, customers significantly reduce their involvement in servicing requirements. Industry studies indicate that in the entire lifecycle of equipment, service consumes approximately 20% of the cost and 15% of the time of consumers. Reducing either of these aspects empowers industry players to become more competitive in their respective sectors.

Renting equipment has become a preferred option for businesses seeking managed services and bypassing high upfront costs. Compared to purchasing equipment, rentals offer a cost-effective solution that allows companies to choose optimal equipment tailored to their specific requirements. By embracing rental solutions, businesses can eliminate hidden and obvious costs associated with equipment ownership, thereby increasing productivity, meeting compliance standards, and achieving overall cost savings.

Over the past five years, Godrej RenTRUST has achieved a CAGR of 20%, solidifying its position as a trusted and leading player in the material handling rental industry and growing further. In this highly unorganized industry, Godrej RenTRUST continues to provide marquee services to enable fully complaint and safe operations with certified operators and high-quality equipment, that can be digitally monitored in real time by the clients. Customers benefit from their extensive reach in India across 300+ sites, optimized space and cost of warehouses, safer material handling movements till 12.5 meters height with increased throughput, with 80% of fleet being electric powered.

Commenting on this, Mr Anil Lingayat, Executive VP and Business Head, Godrej Material Handling, says, “We are thrilled to announce our investment of INR 100 crores in capital assets for Godrej RenTRUST, reflecting our strong belief in the rising demand for material handling solutions across the country. At Godrej RenTRUST, our focus is on empowering businesses to thrive by providing flexible rental options that eliminate high upfront costs and offer optimal equipment tailored to their specific needs. By delivering transparent rental contracts, exceptional service, and hassle-free maintenance, we aim to enhance our customers’ productivity, drive operational efficiencies, and enable them to stay ahead in today’s competitive landscape. This strategic investment underscores our commitment to revolutionize the material handling rental industry and deliver exceptional value to our valued customers.”

One of the key advantages of Godrej RenTRUST’s rental contracts is the transparency it provides in operational expenses. Customers can benefit from a predetermined cost structure, enabling them to determine operational efficiencies needed for their core business. Additionally, rental contracts ensure that no unforeseen expenses arise during the operational cycle, minimizing surprises and providing peace of mind. Companies are increasingly transitioning from capital expenditures to rental solutions leveraging the flexibility it offers in meeting expansion needs, greenfield projects, and fleet replacements.

With a customer-centric approach, Godrej RenTRUST is poised to cater to the ever-growing demands of the Indian market and ensure seamless and efficient material handling for businesses across various sectors.

SMFG India Credit Co. Ltd. reports a 10x growth in FY23 with a Profit Before Tax of INR 8,945 Million for the Financial year of FY23

Mumbai, May 31, 2023:

The Indian financial sector witnessed a momentous deal in July 2021 when Sumitomo Mitsui Financial Group (SMFG) acquired a 74.9% stake in Fullerton India Credit Co. Ltd. from Fullerton Financial Holdings Pte. Ltd. The deal was concluded in November 2021. Effective May 11, 2023, Fullerton India Credit Company Limited is SMFG India Credit Company Limited (SMICC).

SMICC has reported a 10x growth in FY23 with a Profit Before Tax of INR 8,945 Million for the Financial year of FY23. Total Disbursals jumped by 98% to INR 252,029 Mn in FY23 from INR 127,377 Mn in FY22. The AUM has increased by 44% and crossed the INR 300 Bn mark ( 301.86 BN)

With the support of a shared vision of its shareholders and a capable leadership team, the NBFC is poised to leverage its strengths, capitalize on market opportunities, and achieve its true potential in the financial industry.

Speaking about the company’s overall performance, Mr. Shantanu Mitra, CEO & MD, SMICC said “Our performance of FY23 resonates with the steps we have taken in the last year, with a focus on catering to the underserved customers in the rural heartlands and those in the semi-urban markets of the country. Having clocked a growth of 10x in profit before tax in FY 23 fortifies our belief that the 3 key drivers – our wide distribution network, diversified product offering, and an enhanced digital ecosystem will propel our business going forward. Our AUM in FY23 stood at INR 3,01,868 Mn and with strategic alliances in our digital business, we not only re-engineered the digital customer experience but also fuelled our growth momentum. With the launch of new branches across key states, along with a sustained focus on collections, we are poised to accelerate and transform in FY24.”

Effective May 15, 2023, Fullerton India Home Finance Company Limited is SMFG India Home Finance Company Limited (SMFHC). SMHFC has posted a growth of 137% in disbursals. The company’s AUM stood at INR 64,265 Mn, 44% higher than INR 44,563 Mn as of March 2022. SMHFC has created a wider footprint in new geographies and locations with 43 new branches in Tier 2+ regions, totaling 125 branches spread across 15 states. With an aim to become a digital-first organisation to increase efficiency and service, the company has focused on paperless processes, short time-to-market, and extensive self-serve options for internal and external customers.

Mr. Deepak Patkar, CEO & MD, SMHFC said “Our home finance business has shown tremendous growth in FY23, with disbursals of INR 30,552 Mn, a 137% growth over INR 12,870 Mn of disbursals in FY22. In line with our customer-centric approach, we have invested in human capital, enhancing our employee strength to 2300+ in FY23, from 800 in FY22, enabling us to reach our customers directly. The growth in our disbursals is a testimony to our focus on affordable housing finance for our customers. The company received 100 crores of capital from the parent in Q4’ FY23.”

The Write Circle in Ahmedabad hosts eminent author of military stories Rachna Bisht Rawat

31st May 2023, Ahmedabad: Ahmedabad had a date with Rachna Bisht Rawat, the eminent author of military stories at a session of The Write Circle organized by Prabha Khaitan Foundation in association with Karma Foundation and House of MG. The event was supported by Ehsaas women of Ahmedabad – Priyanshi Patel and Shaneel Parekh.

The esteemed author Rachna Bisht-Rawat, whose portfolio of books includes heroic tales of the brave soldiers of the Indian Army, the latest being Bipin: The Man Behind the Uniform, had a rendezvous with conversationalist Aakriti Periwal, Honorary Convenor of Overseas Affairs of Prabha Khaitan Foundation and Ehsaas Woman of Jaipur.

Aakriti Periwal beautifully moderated the evening session at Bucky Gallery. She engaged in a captivating conversation with Rachna Bisht Rawat, delving into the inspiring life and career of Bipin Rawat, as well as the author’s own writing experiences and personal insights. The audience of Ahmedabad was captivated by the thought-provoking inquiries of the conversationalist and the wonderful answers by the author.

Before the commencement of the program, a delightful selection of tea and appetizers was served, providing an opportunity for the guests to engage in meaningful social interactions during the high-tea session. Shaneel Parekh of Ehsaas Woman of Ahmedabad delivered an engaging opening address, extending a warm welcome to all distinguished guests in attendance.

The 45-minute main session was followed by an engaging 15-minute question andanswer segment during which the enthusiastic audience actively participated and interacted with the esteemed speaker.

Priyanshi Patel – Ehsaas woman of Ahmedabad – expressed heartfelt gratitude to the speaker, moderator, and attendees, conveying her appreciation through a warm Thank You speech. Rachna Bisht Rawat graciously autographed and distributed copies of her books to the guests, creating lasting memories. Former Wing Commander Arun Kaul presented an esteemed accolade to Rachna Bisht Rawat during the event, recognizing her remarkable contributions to the literary world.

Celebrating Excellence: Wonderla Resort Receives 2023 Travellers’ Choice Hotels Award from Tripadvisor

Bengaluru, India – 31st May 2023: Wonderla Resort, a part of Wonderla Holidays, India’s largest amusement park chain is thrilled to announce that it has been honored with the prestigious 2023 Travellers’ Choice Hotels Award by Tripadvisor in the family-friendly category, as well as one of the top 10% of hotels worldwide. The award recognizes Wonderla Resort as one of the best places to stay in India and worldwide, as determined by millions of traveler reviews and ratings on the popular travel platform.

In its 21st edition, the Travellers’ Choice Best of the Best Hotel Awards by Tripadvisor showcase the finest accommodations across various categories, providing inspiration and guidance to travellers as they plan their summer getaways. The awards are based on a comprehensive analysis of review data gathered from January 1, 2022, to December 31, 2022, encompassing feedback from over 1.5 million hotels worldwide.

Wonderla Resort offers a wide range of amenities and activities designed to cater to guests of all ages, ensuring that families can create lasting memories together. This is located right in the backyard of Wonderla Amusement Park and offers 84 luxurious rooms, and fully equipped recreation areas, with all amenities.

Commenting on this, Arun K. Chittilappilly, Managing Director, Wonderla Holidays Ltd said “We are thrilled and proud to be recognized with the 2023 Travellers’ Choice Hotels Award by Tripadvisor. This award is a testament to the hard work and commitment of our entire team who consistently strive to provide exceptional service and unforgettable experiences for our guests. We are grateful to our guests for their valuable feedback and continued support”.

Servotech Showcases its EV DC Chargers Range at EVIS 2023 Abu Dhabi

New Delhi, 31 May 2023: India’s leading EV charger manufacturer Servotech Power Systems Limited showcased its extensive range of EV DC fast chargers during the Electric Vehicle Innovation Summit in Abu Dhabi. Servotech participated in this 3-day-long summit in association with its distribution and marketing partner in the Middle East, Al Ansari Motors. This opportunity will help Servotech to increase its global footprint and understand the charging requirements of EV owners of different geographies more precisely.

Servotech so far has established remarkable milestones in India’s EV market with the successful establishment of commercial charging stations at multiple locations and fuel retail outlets. Servotech has learned a lot from its previously implemented strategies and now possesses renewed technical knowledge & expertise. Servotech will systematically use this experience to create improved tech-enabled charging equipment and provide even more viable charging solutions in other nations.

Raman Bhatia, Founder and MD of Servotech Power Systems Limited, commented on exhibiting a range of high-performance Servotech EV chargers at EVIS 2023, we are excited to be a part of the EVIS summit, this golden opportunity marks another big achievement for a long journey in the global EV charging sector. We also have showcased our EV chargers at several exhibitions in the past at multiple international locations like London and America to found that the popularity of electric vehicles is continuously rising among customers. We will ensure the easy availability of the best quality charging solutions for all EV owners. The Middle East region continuously shows new doors to meet big possibilities and make the world even better. This time, Servotech and Al Ansari Motors have come together and committed to fully participate and take their best foot forward to help the region in achieving the goals of zero-emission travel with our innovative charging solutions.

The significant turnout at the ongoing Electric Vehicle Innovation Summit indicates that Abu Dhabi is fully prepared to embrace the transition to e-mobility. The development of commercial charging infrastructure will encourage more buyers to switch to EVs. This summit will surely prove a bigger step toward a journey of sustainable mobility besides helping us to reach the next stage of international business growth, said Raman Bhatia.

TravClan Expands Global Reach through Strategic Partnerships with Middle East Government Bodies and Tourism Boards

31st May 2023, New Delhi: TravClan, a global B2B Travel Tech Platform, has entered into strategic partnerships with the government bodies and tourism boards of Abu Dhabi, Dubai, Oman, and Saudi Arabia to continue to reshape the way travel agents sell and deliver exceptional travel experiences worldwide.

Expected to attract over 2 lakh new consumers to the Middle East, these alliances stand to generate a potential 20% revenue growth in the next 3 years for 15,000+ travel agents who would get a chance to learn more about offerings of the region.

“Our partnerships are critical in achieving our mission to boost tourism in the Middle East,” said Chirag Agrawal, Co-founder of TravClan. “They underline our commitment to showcase the region’s incredible offerings and foster trust and confidence among travelers worldwide.” Through the partnerships, TravClan, aims to increase the awareness amongst the travel professionals regarding the vast choice of on-ground travel services and unique experiences these destinations have to offer.

TravClan, in recent collaborations with tourism boards, has organized exclusive events, fostering networking opportunities and knowledge-sharing among over 1000 travel industry professionals. These initiatives align with TravClan’s broader vision to empower SMBs in the travel sector globally, enabling their business growth and success.

One such successful collaboration has been with the Saudi Tourism Authority (STA), resulting in a series of joint marketing activities promoting Saudi Arabia. These campaigns, centered around the FIFA World Cup and the ongoing IPL, significantly boosted awareness among the travel agent community and travelers, resulting in a surge in traffic with over 3000 passengers choosing Saudi Arabia as their preferred destination.

“Saudi is a new, unique leisure destination that is untapped and unexplored,” said Alhasan Aldabbagh, President – APAC Markets, Saudi Tourism Authority. “As the true home of Arabia, Saudi offers rich cultural and heritage sites, pristine nature, and diverse landscapes, ideal for the curious, adventurous Indian traveler. Our partnership with TravClan is critical to unlock opportunities for growth and position Saudi as a must-visit destination.”

Joint marketing campaigns with Dubai and Abu Dhabi also yielded remarkable results, with a surge in traffic of over 20,000 passengers in the last 4 months. This success can be attributed to TravClan’s ability to leverage technology to offer superior travel services at affordable prices, coupled with the commitment shown by the Dubai and Abu Dhabi government to create unforgettable experiences for every traveler.

TravClan, recognized as a leading tech-enabled global destination management company, boasts a local on-ground presence in over 18 destinations worldwide, ensuring delightful experiences at every step of the journey. As the summer season unfolds, travelers can look forward to exciting adventures, cherished family moments, and awe-inspiring experiences in Dubai, Abu Dhabi, Oman, and Saudi Arabia.