Month: August 2022

Berger Paints India Limited, the second largest paint company in India announced the company’s Q1 results for the quarter ended 30th June, 2022. Berger Paints today reported a 54% increase in revenue and 69% increase in operating profit for the first quarter ending 30th June 2022. The culmination of ongoing activities including launch of a slew of products (Luxol, PU Enamel, Longlife Flexo & Economy offerings in the undercoat category), renewed focused on distribution expansion coupled with robust consumer demand led to this stellar performance in the first quarter.

With increased awareness among consumers in the waterproofing space aided by new and innovative offering by Berger Paints, the waterproofing segment continued its handsome growth trajectory. The growth in decorative segment was led by the Premium and Luxury segment as demand in urban centers returned to pre pandemic levels. In the rural and upcountry markets, products targeted at bottom of the pyramid consumers did exceedingly well.

Highlights of the Consolidated Results:

 

2759. Revenue from Operations for the quarter ended, 30th June, 2022 was 2759.70 crores  as against Rs. 1798.49 crores in the corresponding quarter of the last year, representing an increase of 53.44% over the corresponding period of last year.
2760. EBIDTA (excluding other income) for the quarter ended 30th June, 2022 was 404.84 crores as against Rs. 238.53 crores in the corresponding quarter of the last year, representing an increase of 69.72% over the corresponding quarter of last year.
2761. Net profit (after share of profit/loss of associates and joint venture) for the quarter ended 30th June, 2022 was 253.71 crores as against Rs. 140.48 crores in the corresponding quarter of the last year, representing an increase of 80.60% over the corresponding quarter of last year.

Highlights of the Standalone Results:

2488. Revenue from Operations for the quarter ended 30th June, 2022 was 2488.67 crores as against Rs. 1619.21 crores in the corresponding quarter of the last year, representing an increase of 53.70% over the corresponding quarter of last year.
2489. EBIDTA (excluding other income) for the quarter ended 30th June, 2022 was 373.72 crores as against Rs. 220.79 crores in the corresponding quarter of the last year, representing an increase of 69.26% over the corresponding quarter of last year.
2490. Net profit for the quarter ended 30th June, 2022 was 234.40 crores as against Rs. 135.09 crores in the corresponding quarter of last year, representing an increase of 73.51% over the corresponding quarter of last year.

Business Outlook: Commenting on the results, Mr. Abhijit Roy MD & CEO Berger Paints said, “Even amidst inflationary headwinds which adversely affected the raw material prices, operating profits rose sharply owing to better product mix and prudent cost control. The strong operating profit numbers are a testament to our strengthened brand equity and increasing contribution of differentiated products like Easy Clean & Anti Dustt”.

• Initiative on Responsible Digital Citizenship part of startup’s commitment to promoting online safety for kids
• Report was launched virtually in the presence of Smt. Annapurna Devi, Hon’ble Minister of State for Education, Government of India

The ‘Responsible Digital Citizenship and Online Safety’ report by Wranga, an Indian start-up focused on cyber safety for kids, with the support of Disney Star India, one of the biggest media conglomerates, was released today.

The aim of the report was to assess the proficiency of young online users with the safety tools at their disposal, and identify their preferred mode of learning. Among the many conclusions drawn was that 84% of users have come across fake news online.

Wranga leaned on the support of Disney Star India to bring out the study, undertaken to understand – and contribute to – the domain of digital education for creative expression, learning and participation of students as responsible digital citizens, and to ensure their digital wellbeing.

The survey is one of the main elements in the first phase of this programme, alongside workshops, training, focus-group discussions and design of curricula.

Conducted among school students, the report found that the greatest threat girls and boys face in the online space is inappropriate sharing of images. Students also revealed that although topics like cyberbullying and misinformation are touched upon in the classroom, more must be done to have a real-life impact. “Topics were taught but not enforced in any way. So they didn’t have any real-world impact,” the report mentions.

Interestingly, the respondents listed specific topics they would like to deep-dive into through their school curriculum, including Legal Protection, Internet Privacy and Cyber Wellness. Significantly, 70% of respondents were worried about their online privacy and safety – besides improper use of photos, they also raised concerns over setting up of fake profiles or misrepresenting profiles, taking screenshots without permission and circulating, stumbling upon inappropriate visual and textual content, and unwanted approaches in chat rooms, on social-networking sites or on email.

On the positive side, however, an overwhelming 80%-90% of students believed that the Internet has helped broaden their horizons, and prefer to use the worldwide web for learning new subjects and for creative expression.

This initiative is a step towards building a secure digital space for India’s youth. It also highlighted apprehensions that users have while reflecting on the measures that need to be taken to enhance their online experiences, and identifying the resources required to build capacities that can guarantee safe digital surfing.

Wranga collaborated with various stakeholders such as teachers, parents, institutions, the Government and its agencies NGOs/SOs, online platforms and legal and cyber security experts for a comprehensive consultation. The survey was carried out amongst children of school-going age in India, from January to April 2022. Altogether, 842 responses of students from grade-9 to grade-12 were documented and analysed.

According to Amitabh Kumar, CEO, Wranga, “I feel that this report, compiled with the invaluable co-operation of Disney Star India, can be the start to a conversation we must all be having. Because our children are spending a lot of their time online, it is imperative that we understand the particular challenges and threats they face, and that we resolve to make the digital world as safe as possible for them.”

In the words of Mihir Rale, Chief General Counsel, Disney Star India, “This study is an important contribution to the discussion on digital safety, knowing that a lot of our lives are being spent online. It is even more urgent that steps are taken to address the problems and risks associated with the digital ecosystem, more so when these affect our children. I think the report will go a long way towards strengthening online security.”

Present at the launch of the report was chief guest Smt. Annapurna Devi, Hon’ble Minister of State for Education, Government of India, who gave a special address stating, “The National Education Policy, under the guidance of Hon’ble Shri Narendra Modi Ji, has been created by honorary literates and equips the Indian youth and masses with Ed-tech. Wranga’s efforts towards digital citizenship and online safety are being reflected in the project report taken up in collaboration with Disney Star, which is truly commendable.”

She further added, “In the present times, the digital presence of students and educational institutes has significantly increased. Thus, educating our youth about the safety and security of utilizing Internet is imperative to make them responsible digital citizens. Along with the teachers, it is also the responsibility of the youth’s guardians to steer them in the right direction. I believe that this project will be beneficial, and congratulate the stakeholders from both Team Disney Star and Wranga for this achievement.”

The release also saw panel discussions on the many aspects of digital citizenship, in which domain experts discussed existing gaps in online safety and shared recommendations on how young adults can become vigilant and accountable for their online actions.

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• The agreement includes renaming the waterfront “ROSHN Waterfront”
• The Waterfront includes 7 different entertainment areas stretching over a distance of 4 km

RIYADH and JEDDAH, Saudi Arabia, Aug. 3, 2022 /PRNewswire/ — In the presence of His Excellency the Mayor of Jeddah, Mr. Saleh bin Ali Al-Turki, ROSHN, the national real estate developer wholly owned by the Public Investment Fund and Rotana Star Neon Company, signed an agreement to sponsor the Jeddah Waterfront and transform its name into “ROSHN Waterfront”.

Redeveloped and opened 2017, the Waterfront is one of the most important landmarks in Jeddah, attracting approximately 55 million visitors annually. It stretches four kilometers along the Red Sea coast and will consist of seven diverse recreational areas for families and children.

By renaming and sponsoring the waterfront ROSHN intends to boost its efforts to support the goals of Saudi Vision 2030 to provide a higher quality of life for the citizens and residents of the Kingdom.

Commenting on the agreement, Sabah Barakat, Group Chief Operating Officer of ROSHN, said: “We were pleased by the attendance of His Excellency Mr. Saleh Al-Turki at the signing ceremony of the sponsorship agreement and the renaming of Jeddah Waterfront. We in ROSHN are keen to diversify our partnerships and efforts to serve the provision of a higher quality of life in the Kingdom. The waterfront is part of our endeavor to activate the role of social responsibility and provide higher quality lifestyles.”

ROSHN is a national real estate developer powered by the Saudi Public Investment. It is mandated to provide high-quality living standards for Saudis and to support government efforts to increase citizens’ home ownership rates. The announcement of the waterfront agreement comes after the recent launch of the ALAROUS project in Jeddah – ROSHN’s second project in the Kingdom after the SEDRA community in Riyadh.

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ACES India Private Limited, a wholly-owned subsidiary of Advanced Communications and Electronics Systems Company (ACES), celebrates the completion of successful Mobile infrastructure assets and operations takeover for Kempegowda International Airport, Bengaluru (BLR Airport), honoured as the Best Regional Airport in India and South Asia at the 2022 Skytrax Awards.

ACES and BIAL Team

An agreement was first signed between ACES and Bangalore International Airport Ltd (BIAL), operator of BLR Airport, in February 2022 for providing Mobile Infrastructure Services for a period of 10 years.

ACES have successfully transitioned all Mobile Infrastructure services within 100 days and are on track for providing the best mobile coverage and enhanced internet speeds to all BLR Airport passengers and visitors for the coming 10 years.

On 28 July 2022, BIAL and ACES Management teams celebrated ACES’ achievement at BLR Airport for completing successful takeover of providing Mobile Infrastructure Services for all passengers and airport community workforce and visitors. BIAL has valued and appreciated ACES’ achievement of smooth transitioning and full takeover of Mobile Infrastructure Services which was challenging. ACES management confirms its commitment towards BIAL for providing modern infrastructure, better mobile services, improved coverage and enhanced user experience.

ACES is one of the leading International Neutral Digital Infrastructure Companies and ACES India Private Limited is its subsidiary with its presence in the Middle East, South East Asia and Europe. Several important projects like Surat Diamond Bourse (SDB), the Holy Mosque Expansion in Makkah, the Riyadh Metro Public Transport Project, King Khalid International Airport in Riyadh, MASAR and many more. (www.aces-co.com)

Bangalore International Airport Limited (BIAL) began operations in May 2008 and plays a key role in driving the economy of the region-offering connectivity to key destinations in India and across the globe. It is currently the busiest airport in South India and the third in the Country, having welcomed 33.65 million passengers in CY 2019. The Airport won the Best Airport Staff in India and Central Asia at the 2021 Skytrax Awards. It’s the only Airport in the world to win the ACI-ASQ awards for three consecutive years. (www.bengaluruairport.com).

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MUMBAI, India, Aug. 2, 2022 /PRNewswire/ — STL (NSE: STLTECH), one of the industry’s leading integrators of digital networks, today launched a comprehensive suite of optical connectivity solutions to empower India’s 5G readiness. With recently held spectrum auctions, India is at a key point in its 5G connectivity and is expected to have ~200mn 5G subscribers by 2025. The industry requires state-of-the-art optical products that can make 5G deployment quick, easy and cost-effective.

For the past couple of years, STL has been gearing up for India’s 5G revolution. The company is breaking new grounds in 5G technology with homegrown optical connectivity solutions. Continuing the momentum, STL announced a suite of compatible optical connectivity products to boost India’s 5G readiness, comprising a range of optical fibre and cables and interconnect solutions. These include:

• Stellar fibre- G.657.A2 macro-bend insensitive fibre. It is compatible with legacy 4G and optical metro networks comprising G.657.A1 and G.652D.
• Celesta Intelligently Bonded Ribbon Cable combined with Compact Optical Ribbon Closure (CORC) – A high-density optical fibre cable with up to 6912 fibres. This supports faster, easier and cost-optimised network deployments by offering high capacity and better duct space utilisation.
• Micromodule cable with Micro-Optical Demarcation Closure – Highly compact closure optimised for urban deployment. It offers fast, efficient and tool-free installation for both aerial and underground fibre build-outs.
• Preconnectorised drop cabling solutions – A solution for indoor and outdoor small-cell connectivity; this pre-connectorized solution offers significant time savings during 5G infrastructure build-outs, reducing deployment complexity and the need for specialized labour

These optical solutions will enable four core benefits for network creators – scalable and agile operations, faster time-to-market, lower TCO and greener networks.

To increase capabilities in 5G-suited optical products, STL is also taking the following initiatives:

• Enhancing fibre and cable production capacity – 5G will require large-scale OFC deployment. Anticipating this demand, STL has been ramping up its capacities over the past few quarters. It is planning to raise the production capacity of optical fibre to 50 mn fkm this year and will increase cable capacity to 42 mn fkm in FY23.
• Manufacturing a new suite of pre-connectorized solutions with a state-of-the-art facility – STL’s optical interconnect facility in Dadra, India, tackles all field-related complexities and devises integrated solutions for the same.
• Devising deployment methodology with LEAD 360^o – A hyperscale network deployment solution for faster and more efficient 5G-led fibre rollouts.
• Developing skilled talent pool – STL has been training more than 1,00,000 professionals on 5G technology through STL Academy. It has recently signed a MoU with NASSCOM to increase the number of certified professionals in India ~10X by 2024.

Launching these solutions, Paul Atkinson, CEO, Optical Networking Business, STL, said: “We believe our optical solutions will make India accelerate towards 5G connectivity. We will continue to build innovative, cost-effective products to enable accelerated network rollouts for a seamless user experience and empower digital transformation at scale, connecting billions.”

About STL – Sterlite Technologies Ltd:

STL is one of the industry’s leading integrators of digital networks providing All-in 5G solutions. Our capabilities across optical networking, services, software, and wireless connectivity place us amongst the top optical players in the world. These capabilities are built on converged architectures helping telcos, cloud companies, citizen networks, and large enterprises deliver next-gen experiences to their customers. STL collaborates with service providers globally in achieving a green and sustainable digital future in alignment with UN SDG goals. STL has a global presence in India, Italy, the UK, the US, China, and Brazil. Read more, Contact us.

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• The discount is available at 650+ DHL retail stores to walk-in customers for international Rakhi & gift shipments weighing 0.5 Kg to 2.5 Kg, 5 Kg, 10 Kg, 15 Kg & 20 Kg till 13^th August 2022.

DHL Express, the world’s leading international express service provider, is once again spreading festive cheer across boundaries with an exclusive offer for its retail customers, this Raksha Bandhan. The offer aims to bring families staying abroad closer to home through rakhi and gifts.

As part of the rakhi festive offer, DHL’s retail customers can get up to 50% discount on international rakhi and gift shipments till 13^th August 2022. The discount is available pan-India, across DHL’s more than 650 retail stores for shipments weighing 0.5kg to 2.5kg as well as 5kg, 10kg, 15kg and 20kg. Customers can use this special deal to send sweets, curated gifts, homemade delicacies and more to their loved ones living across the globe.

“At DHL Express, we recognize the joy that festivals bring to our lives. Therefore, we have curated these special offers on the ceremonious occasion of Raksha Bandhan. We hope this enables the “Rakhis & Gifts” movement across the seven seas and strengthens the bonds. This is another example of DHL’s ‘Excellence, Simply Delivered’,” said Sandeep Juneja, Vice President, Sales and Marketing, DHL Express India.

DHL Express India introduced the offer to cater to the rise in gifting during this season. It is also designed strategically, bearing in mind the significant number of Indians who live overseas.

Customers can leverage DHL’s global network of 220 countries and territories to send their token of good wishes to family and friends. The offer also comes with an assurance of complete shipment visibility through proactive updates via SMS and e-mail, ensuring hassle-free deliveries across the world.

To enquire about this offer, customers can call DHL Express’ Toll-Free number 1800 11 1345.

TVS Motor Company registered a growth of 13 percent in July 2022 with sales of 314,639 units as against 278,855 units in the month of July 2021.

Two-Wheeler
Total two-wheelers registered a growth of 14 percent in July 2022 with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022. Domestic two-wheeler registered growth of 15 percent with sales increasing from 175,169 units in July 2021 to 201,942 units in July 2022.

Motorcycle registered a growth of 8 percent with sales increasing from 138,772 units in July 2021 to 150,340 units in July 2022. Scooter registered a growth of 49 percent with sales increasing from 73,811 units in July 2021 to 110,196 units in July 2022

The Company has invested in strategic relationships and action plans for the supply of semiconductors and the efforts are yielding results with improvements seen this month as well. We are very confident of the supplies improving further.

International Business

The Company’s total exports grew by 9 percent from 103,133 units in July 2021 to 112,032 units in July 2022. Two-wheeler exports grew by 12 percent from 87,559 units in July 2021 to 97,716 units in July 2022.

Three-Wheeler

Three-wheeler of the Company registered sales of 14,981 units in July 2022 as against sales of 16,127 units in July 2021.

Electric Vehicle

The newly launched three versions of TVS iQube Electric have received a very good response with customers welcoming the product and liking its features. The future demand outlook is very positive. Efforts on increasing the capacity and delivery are showing results, and against a monthly average sale of 2,908 units in Q1 2022, the company sold 6,304 units of TVS iQube Electric in July 2022.

About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

For more information, please visit www.tvsmotor.com.

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NEW YORK, Aug. 1, 2022 /PRNewswire/ — Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Allied Universal® expanded and relocated from a 12,000 square foot space at ESRT’s One Grand Central Place to a 30,000 square foot space at 501 Seventh Avenue. Located adjacent to Penn District’s new developments with convenient access to Penn Station, tenants of 501 Seventh Avenue enjoy ESRT’s leading healthy building technologies and indoor environmental quality. “The market flight to quality is not just about new development; it is about tenant’s desire for newly built and renovated, energy-efficient office space in modernized healthy buildings with convenient access to mass transit at an accessible price point,” said Thomas P. Durels, executive vice president, real estate at Empire State Realty Trust. Louis D’Avanzo and Michael Baraldi of Cushman & Wakefield represented Allied Universal® in the lease negotiations. Shanae Ursini of ESRT and Ron Lo Russo, Heather Thomas, Patrick Murphy, Will Yeatman, and Pierce Hance of Cushman & Wakefield represented the property owner. More information about 501 Seventh Avenue, and current availabilities, can be found online. About Empire State Realty Trust Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World’s Most Famous Building, and Tripadvisor’s 2022 Travelers’ Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory.  The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City.  As of June 30, 2022, ESRT’s portfolio is comprised of approximately 9.2 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 residential units across two multifamily properties.  More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as “assumes,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects” or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond ESRT’s control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, (i) the current public health crisis and economic disruption from the COVID-19 pandemic, (ii) a failure of conditions or performance regarding any event or transaction described above, (iii) regulatory changes and (iv) other risks and uncertainties described from time to time in ESRT’s and ESROP’s filings with the SEC, including those set forth in each of ESRT’s and ESROP’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors.” Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise. Category: Leasing Logo – https://mma.prnewswire.com/media/479871/Empire_State_Realty_Trust_Inc_Logo.jpg (Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)

India’s leading Insurtech startup, InsuranceDekho, has recently introduced pet insurance to its product portfolio. InsuranceDekho has partnered with Future Generali India Insurance Company to offer this unique Dog Health Cover and is also in the process of tying up with other insurers.

On the day of the launch, the company hosted a special launch event attended by four-pawed friends from various daycares and animal shelters. During the event, the dogs cum special guests of the day participated in fun events with the company employees and beautifully illustrated the meaning of the ‘coexistence’ of different beings in the world.

Commenting on the launch Mr. Ankit Agrawal, Co-Founder and CEO of InsuranceDekho, said:

“We are aware that pets and their human parents share a close bond, and that even dogs occasionally find themselves in unexpected predicaments. We have launched Pet Insurance to help pet parents protect their furry babies in these trying times. India has an estimated pet population of 32 million pets growing at 12% yearly, with dogs making up almost 85% of the total population. We can infer that the number of dogs insured in India is also on the rise, giving us an immense opportunity to grow in the dog health insurance category.”

Post covid, there has been a wave of pet parenting with millennials making up 31%, baby boomers 29%, Gen Xers 26%, and Genz and Builder generations making up the rest of the pet owner market in India. It is estimated that pet insurance (including cattle) in India will witness an increase of at least 14% to achieve $490 million at the end of the year 2022. Globally, the pet insurance market is anticipated to reach USD 32.7 billion by 2030.

InsuranceDekho under their dog health insurance plans offers comprehensive coverage for over 25+ breeds of dogs, aged 6 months to 10 years. With this pet insurance plan, financial assistance is offered for expenses incurred by pet parents towards hospitalisation (including pre and post hospitalisation), treatment of terminal illness, and surgery, subject to certain terms and conditions which may vary from one insurance provider to another. The pet insurance policy as of now has a starting premium of about Rs. 324 annually.