Tag: Executive Chairman

Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Ltd
Business

Consolidated Financial Results for Q2 FY22 and H1 FY22

Nov 2, 2021 by Rekha Nair 0 Comments #Executive Chairman, #Godrej Properties Limited, #Mr. Pirojsha Godrej

India: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarter ended September 30, 2021.

CORPORATE HIGHLIGHTS:

Sales Highlights

Q2 FY22 witnessed a total booking value of INR 2,574 crore and total booking volume of 3.61 million sq. ft. as compared to total booking value of INR 1,074 and total booking volume of 1.73 million sq. ft. in Q2 FY21.
H1 FY22 witnessed a total booking value of INR 3,072 crore and total booking volume of 4.38 million sq. ft. as compared to total booking value of INR 2,605 crore and total booking volume of 4.24 million sq. ft. in H1 FY21.

Business Development

Added a new project in MMR with saleable area of ~1.6 million sq. ft. in Q2 FY22

Wadala, MMR

The project is a redevelopment of a land parcel in the upscale neighborhood of Wadala and is in very close proximity to Matunga Five Gardens
Spread across 7.5 acres, this project will offer approximately 1.6 million sq. ft. of saleable area comprising primarily of residential apartments of various configurations
GPL will construct space for the existing residents in lieu of the saleable area

Other Highlights

Ranked #1 amongst listed global residential developers by the Global Real Estate Sustainability Benchmark (GRESB) in the 2021 GRESB Real Estate Assessment report
48 awards received in Q2 FY22, including India’s Top Builder at 16th Construction World Architect and Builder Awards 2021

Commenting on the performance of Q2 FY2022, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: “After a weak first quarter, the real estate sector has rebounded strongly in the second quarter. GPL recorded one of its best ever quarters for bookings with a strong response to new launches across India. We have a robust launch pipeline in the second half of the financial year and expect to build on the current momentum.”

Financial Overview (Consolidated)

Q2 FY22 performance overview compared with Q2 FY21

Total Income stood at INR 290 crore as compared to INR 238 crore
EBITDA stood at INR 105 crore as compared to INR 77 crore
Net profit stood at INR 36 crore as compared to INR 7 crore
EPS# amounted to INR 1.28 as compared to INR 0.28

OnMobile Global Acquires 100% Stake in AI Powered Visual Retention Leader rob0
Business, News

OnMobile Global Acquires 100% Stake in AI Powered Visual Retention Leader rob0

Aug 13, 2021 by Rekha Nair 0 Comments #Chief Executive Officer, #Co-founder and CEO, #Executive Chairman, #François-Charles Sirois, #Krish Seshadri, #OnMobile Global, #Richard Rispoli, #Technologies rob0 Inc

OnMobile Global Limited (“OnMobile”), the global leader in mobile entertainment announces the 100% acquisition of rob0, through its subsidiary OnMobile Global Solutions Canada Ltd. This investment is in continuation to the initial acquisition of 25% equity stake in May 2020.

rob0 (incorporated in Feb 2019) offers best-in-class patent pending Vision AI technology. The platform gathers, analyses and provides smart insights that help to clearly understand user behaviour, optimise gameplay and increase player retention.

This investment by OnMobile, is the second major step towards creation of ONMO, the D2C mobile cloud-gaming platform, after the acquisition of Appland AB, Sweden in October 2018. These strategic acquisitions lay the foundation of technologies which form the pillars of ONMO.

Alongside, OnMobile has hired a stellar team of product managers, engineers and marketers who are working on developing ONMO, which is built on three key mobile gaming trends (eSports, Social and Short Form Gaming) and two disruptive technologies (AI and Cloud Streaming), and is currently being Beta tested in 3 locations globally. rob0’s low bandwidth session streaming and AI generated user spotlights will be a key tool in making ONMO a global success.

Commenting on this acquisition, François-Charles Sirois, Executive Chairman, OnMobile Global, said, “rob0’s acquisition brings to life our ONMO mission of creating the best gaming moments that bring esports to everyone in one click, and takes us a step closer to our goal to be the uncontested leader in social esports globally.”

Krish Seshadri, Chief Executive Officer, OnMobile Global, said “rob0 has been an integral part of our cloud gaming product, ONMO. rob0’s technology and Vision AI picks the best parts of a game and helps ONMO create thousands of short, unique challenges for mobile casual esports players.”

“We’re excited to help build the next generation of mobile gaming. OnMobile’s vision for the future of casual games is inspiring and I’m proud to see our vision AI technology playing an essential role in making it possible.”, said Richard Rispoli, Co-Founder and CEO, Technologies rob0 Inc.

Varun Chopra, Executive Chairman, GEAR
Business, News

Varun Chopra appointed as Executive Chairman at GEAR to Accelerate Growth

Aug 3, 2021 by Rekha Nair 0 Comments #Executive Chairman, #GEAR, #GEAR (Gemini Equipment and Rentals Private Limited), #Mr. Dimitri Goulandris (Founder – The Cycladic Group), #Mr. Kabir Kewalramani (Managing Director – Berggruen Holdings), #Varun Chopra

GEAR (Gemini Equipment and Rentals Private Limited), India’s leading Warehousing & Intralogistics Material Handling Equipment (MHE) rental service provider has appointed Varun Chopra as Executive Chairman to accelerate growth. In a joint statement the promoters of GEAR, Mr. Kabir Kewalramani (Managing Director – Berggruen Holdings) and Mr. Dimitri Goulandris (Founder – The Cycladic Group) announced the appointment.

Kabir said “In this role, Varun will set the strategic direction & will be responsible for the overall business and P&L of GEAR India.” Dimitri added “Varun brings with him over 20 years of global experience in Strategic & Operational P&L delivery across Pharmaceuticals, Consumer Healthcare and FMCG businesses and has lived & worked in India, USA, China & UAE. An energetic & agile business leader with a passion for developing talent, he possesses deep P&L expertise, has transformed, turned around & accelerated businesses with consistent revenue & profit growth and developed new GTM (Go To Market) models to enter into new markets.”

In his last assignment, Varun was leading Sun Pharma’s OTC (Over The Counter) Consumer Healthcare business in Emerging Markets for 5 years where he successfully integrated the Ranbaxy OTC acquisition, built high performance multi-cultural teams, collaborated with diverse stakeholders across countries & functions & aligned the organisation in developing & executing a “GloCal” strategy by market which was instrumental in scaling up Sun Pharma’s OTC Emerging Markets business to over Rs.1000 crores – growing ahead of market, with industry leading margins & additionally developed a strong innovation pipeline of new products to generate incremental revenue & profit.

Commenting on joining GEAR Varun said “It is a privilege to take on the position of Executive Chairman at GEAR and build on the good work done by the team which has made GEAR the #1 rental solutions provider in India. While there are challenges due to Covid-19, there is an opportunity to stimulate growth in the MHE (Material Handling Equipment) rental space by deepening our existing relationships and partnering with new customers in E-commerce, Auto, FMCG, Pharmaceuticals, Glass and other industrial goods. I look forward to meeting & engaging with customers, both existing & potential, so as to provide more effective & efficient solutions to them and in leading the GEAR team to accelerated revenue & profit growth and I am thankful to our promoters, Berggruen Holdings and The Cycladic Group, for giving me this opportunity and for their support.”

Kabir & Dimitri signed off by saying “We have every confidence that Varun will help take the GEAR business to the next level both from a strategic & operational P&L standpoint by evolving the organisational strategy and driving strong execution ably supported by a high performance team and continue to ensure market leadership for GEAR in India”.

Two of Capital India Finance arms - RapiPay and RemitX - partner for international Outward Remittance services
Business World, News

Two of Capital India Finance arms – RapiPay and RemitX – partner for international Outward Remittance services

Mar 15, 2021 by Rekha Nair 0 Comments #CIFL, #Dr. Harsh Kumar Bhanwala, #Executive Chairman

New Delhi: S.K Narvar promoted Capital India Finance Limited (CIFL), a tech enabled SME Finance player, has announced the partnership of its fintech subsidiary RapiPay and its cross-border remittances business vertical ‘RemitX’ to provide international outward remittance services to a varied set of customers.With this development, CIFL has forged an alliance within the group to explore joint synergies by enabling financial technologies taking outward remittances services to India’s vast micro-markets and thereby, consolidate its position. CIFL aims to create a digital ecosystem in financial, payments and banking space to offer its services to customers both in Urban and rural India.

Under the partnership, RapiPay will penetrate the outward remittances services offered by RemitX into the deeper markets of the country by leveraging its vast network of over two lakh agents called ‘RapiPay Sathis’. On the other hand, RemitX will make available its tech-driven,integrated Foreign Exchange services such as outward remittances, buying and selling foreign currency bank notes, foreign currency demand drafts, foreign currency prepaid cards, travel insurance to RapiPay’s business network. With these services at core, RapiPay will be able to offer foreign exchange services to a varied class of customers including the students, travellers going on leisure trips, Overseas Education Consultants, Corporates Houses, Travel Agents and Financial Institutions
Currently through RapiPay, RemitX is offering the two highly in demand services in the international remittance space – outward remittances for Students and outward remittances for overseas Medical Treatment. Post COVID, as the students plan their higher studies abroad this segmentis poised to offer vast opportunity in servicing their payments for universityfees and personal expenses.

Dr Harsh Kumar Bhanwala, Executive Chairman, CIFL said, “We are geared up to offer seamless and real time technology – led foreign exchange remittance services to under-penetrated markets of India. RapiPay and RemitX,with distinct peculiarities, will create a new-model of last mile-connectivity in the foreign exchange segment and help a category of beneficiaries; post COVID.”

On the students’ front, around one million Indian students go abroad for studies every year. Their tuition fee is transferred by their families in foreign currency through banks and the local money changers. In most cases, the conversion rates charged to consumers are either extremely high or have additional bank charges. RemitX will not only offer the best rates but will also ensure a seamless and transparent process. Alternatively, with RapiPay’s pan India presence across Tier 2 and Tier 3 Cities, the consumers would be able to remit foreignexchange with a greater convenience.

Similarly, outward remittances for medical requirements is anotherhighly in demandservice provided by RemitX. The customers would need to contact their nearest RapiPay agentsto meet their remittance requirements. Of late, there has been a strong demand for international outward remittances to the USA, UK, Canada, Australia and Germany. “We are expecting a good traction from the Tier II and Tier III cities of Punjab, Maharashtra, Delhi, Gujarat, which are emerging as a strong economic hotspot in India.”, added Dr Bhanwala.

Mr Deepak Chhabria, Executive Chairman, Finolex Cables Ltd
Business World

Finolex Cables strengthens its FMEG portfolio!

Mar 6, 2021 by Neel Achary 0 Comments #Executive Chairman, #Finolex Cables Limited, #Mr. Deepak K Chhabria

Pune: Finolex Cables Limited announces its new range of decorative fans and lighting products to strengthen its FMEG portfolio. These exclusive fans have been introduced to time the approaching summer season. The stylish range includes FLEENOR, GLADIATOR NXG & ALESSANDRA NXG ceiling fans. Their attractive looks, along with aerodynamic design make them a visual treat. Powered by a powerful Copper motor these Hi speed fans deliver air to every corner of the room.

The company has also launched Inverter LED Bulbs & LED Concealed Down Lights to add to its range. The Inverter LED bulbs are designed to switch on automatically in the absence of power. These bulbs operate with 100 lumens per watt output during power supply & work at a reduced lumen levels of 40-50% at times of no electricity.

Commenting on the new range, Mr. Deepak K Chhabria, Executive Chairman, Finolex Cables Ltd, said, “Our endeavour is to introduce a gamut of new products across segments to give the required scale and strength to our business.” He went on to add “As a consumer centric brand, we at Finolex Cables have always kept innovation at the forefront. Our Inverter LED bulbs resolve a critical problem faced by consumers during unexpected power-cuts. These bulbs provide a smart solution for rural areas and are particularly useful at urban centres with higher power outages.”

The newly introduced LED Concealed Down Lights use ‘Eye Protect’ – Flicker reduction technology that lessens users risk from harmful, invisible flickering of light. It has been launched basis international study results that have shown prolonged exposure to extreme flickering emitted by high flicker LED lights can lead to negative health impact such as headaches, migraine, eye strain, blurred vision or fatigue, particularly for photosensitive individuals.

Amit Mathur, Sr. Vice President, Sales & Marketing, Finolex Cables Ltd.
Amit Mathur, Sr. Vice President, Sales & Marketing, Finolex Cables Ltd.

Speaking on the occasion, Mr. Amit Mathur, Head – Sales & Marketing, Finolex Cables Ltd, said

“We have observed an increase in demand for stylish designs & innovative technologies by households and are confident that the new range will help us further strengthen our market share. With our increased reach in tier 2 &3 centres, we expect to get encouraging results.”

Finolex has also introduced BLOWIN Table, Pedestal fans & SMASHER Exhaust fans. These TPW fans are known for their reliability, impressive air-delivery, smooth running, jerk-free oscillation and more. These fans come close on the heels of Finolex recent launch of its fast-selling Anti-Dust, and Anti Bacteria fans that have augured well for the company.

Mr Deepak Chhabria, Executive Chairman, Finolex Cables Ltd
Business World

Finolex adds RPVC conduits to its offering

Feb 18, 2021 by Neel Achary 0 Comments #Amit Mathur, #Deepak Chhabria, #Executive Chairman, #Finolex Cables Ltd., #Head - Sales & Marketing

Chennai: Finolex Cables, India’s leading electrical & communications cable manufacturer adds conduit and fittings to its repertoire. The conduits are manufactured at its state–of-the-art Goa plant from specially formulated µPVC to meet the most stringent India & International standards. These are made of high impact resistance materials which make them safe to use across varied environmental conditions.

The conduits are available in 19”-32” diameters in Light, Medium and Heavy stress specifications. Along with conduits Finolex also offers commonly used fittings like junction boxes, bends, inspection bends etc.

Speaking on the occasion, Deepak Chhabria, Executive Chairman, Finolex Cables Ltd. said, “We foresee the government’s ‘Power for All’ mission, higher infrastructure spends and growth in affordable housing projects will lead to an increase in overall market size.” He went on to add “Finolex brand equity, a high-quality product manufactured using the latest equipment along with a robust distribution network, we feel augurs well for Finolex receiving a positive response from the market.”

Finolex perceives the conduit business as an opportunity to start a business relationship with the Project Developer at the initial stage itself, after which, Wires, MCBs, Switches, Lighting will be required to complete the electrical requirement of a project/home.

Speaking on the new product launch, Amit Mathur, Head – Sales & Marketing, Finolex Cables Ltd. said “As pioneers in the wire and cable industry, we enjoy a strong relationship with customers, builders and channel partners built over the years. We currently have 1.5 lac retailers, who are frequently requesting us to expand our product portfolio. The conduit launch gives us an exciting new opportunity to strengthen the bond while increasing our wallet share.”

Finolex Cables has been steadily expanding into the Electrical segment with a product range that includes Electric Water Heaters, Fans, Switchgear, Switches and Lighting products. Its residential range of electrical switches, lights, fans and water heaters have been well-accepted, and are gaining traction in the market.

Finolex Cables remains focused on growing this consumer-focused range steadily and leverage their brand equity with the aim of becoming a complete electrical products company and a strong B2C player. The investments made by the company will be a source of competitive advantage, enabling them to capitalize on the unfolding opportunities and give the required scale and strength to their business.

Post-Budget Reactions - Dr. Harsh Kumar Bhanwala, Executive Chairman, CIFL
Business World

Dr Harsh Kumar Bhanwala, Executive Chairman, Capital India Finance Ltd (CIFL) on RBI policy announcement

Feb 5, 2021 by Neel Achary 0 Comments #Capital India Finance Limited, #Dr. Harsh Kumar Bhanwala, #Executive Chairman

Dr. Harsh Kumar Bhanwala, Executive Chairman, Capital India Finance Limited (CIFL)

“With this accommodative stance, the RBI is expecting normalization of sectors as the CRR will further open up space for a variety of market operations and make lending easier. The RBI extending Targeted Long Term Repo Operations (TLTRO) to NBFCs will further enhance credit flow and potential for the affordable housing sector, SMEs, infrastructure projects, etc. Since the resident individuals can now make remittances to IFSCs for NRIs, it will increase the flow of remittances from foreign countries.”