Author: Team

Rajoo Engineers Sets the Stage for India’s Innovative Manufacturing Park with Bhumi Pujan Ceremony

Rajkot, February 07, 2025: In a historic move towards redefining India’s industrial landscape, Rajoo Engineers proudly announces the initiation of its ambitious business expansion project with a Bhumi Pujan ceremony held on February 5, 2025. This significant event marks the commencement of a groundbreaking development on an 80-acre non-agricultural land, setting the foundation for India’s first-of-its-kind manufacturing park dedicated to advanced manufacturing ecosystems.

The newly acquired land will house a comprehensive ecosystem where all verticals of Rajoo Engineers’ operations will be seamlessly integrated under one roof. The project will be executed in stages, starting with the development of core infrastructure, including essential facilities and key operational hubs. This will be followed by the integration of advanced technology units, R&D centers, and sustainability-driven operations. The final stage will focus on consolidating all verticals to maximize efficiency, conserve resources, and ensure seamless collaboration with 100% green energy.

With substantial investments dedicated to state-of-the-art infrastructure, this manufacturing park is designed to embody sustainability at its core. The project will incorporate lean manufacturing principles to minimize waste, optimize resource utilization, and promote environmentally responsible practices. Smart machines leveraging advanced technologies like IoT will further enhance efficiency, predictive maintenance, and resource optimization.

“This is more than just an expansion; it is a testament to Rajoo Engineers’ vision for the future. We are creating an integrated ecosystem that promotes innovation, sustainability, and operational excellence.” emphasizes Khushboo Chandrakant Doshi – Managing Director of Rajoo Engineers Limited.

SBI General Insurance Aids ‘Meri Policy Mere Haath’ Drive for PMFBY Policy Distribution in Rabi 2024-25

Chandigarh February 07, 2025: SBI General Insurance, one of India’s leading General Insurance companies, is delighted to join hands with the Ministry of Agriculture & Farmer Welfare, Government of India for the forthcoming ‘Meri Policy Mere Haath’ campaign, a doorstep policy distribution drive under the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheduled to run from 1st February to 15th March 2025, this campaign aims to provide physical policy documents to the farmers at their doorsteps to ensure awareness among farmers about the benefits of crop insurance & seamless crop insurance experience.

The aim of the “Meri Policy Mere Haath” campaign initiative is to empower farmers by ensuring transparency, accessibility & awareness in terms of central Toll free no. 14447, National Crop insurance portal to lodge intimations in case of losses. The initiative focuses on delivering crop insurance policy documents directly to farmers, promoting awareness about the schemes benefits and strengthening trust in the process. It helps farmers stay informed about their crop coverage, claims and enrolment process under PMFBY Scheme. During the campaign, SBI General will be conducting awareness workshops such as Fasal Bima Pathshala, Women centric workshops etc. in 8 states namely Madhya Pradesh, Uttar Pradesh, Uttarakhand, Odisha, Assam, Tamil Nadu, Maharashtra & Andhra Pradesh to sensitize farmers about the PMFBY Scheme and its benefits. The campaign will also leverage social media campaigns with dedicated hashtags like #MeriPolicyMereHaath, #PMFBY, #FasalBimaKarao, and #AtmanirbharKisan to amplify awareness and participation.

Speaking of the event, Mr. Naveen Chandra Jha, MD and CEO of SBI General Insurance, said “At SBI General Insurance, we are deeply committed to empowering India’s farming community by ensuring they have easy access to the benefits of crop insurance under PMFBY. The PMFBY scheme is bridging the risk needs of farmers by providing them the security net, offering them financial security and peace of mind. The ‘Meri Policy Mere Haath’ campaign reflects our dedication and commitment wherein we work closely with local administrations, stakeholders, and the farming community, we aim to make the policy distribution process seamless, efficient, and impactful”

Aadhar Housing Finance Exhibits 21% YoY AUM Growth in Q3 FY25, Demonstrating Solid Growth Momentum

Mumbai, February 7th, 2025: Aadhar Housing Finance Ltd announced its unaudited financial results for the quarter and nine months ended 31^st December 2024.

Key Performance Highlights:

PERFORMANCE HIGHLIGHTS – Q3 & 9M FY25

• Assets under management (AUM) grew by 21% to Rs. 23,976 crore as of 31^st December 2024 from Rs. 19,865 crore as of 31^st December 2023
• Total number of loan accounts as of 31^st December 2024 reached 2,86,000+
• Profit after tax (PAT) increased by 22% in 9M FY25 to Rs. 667 crore from Rs. 548 crore in 9M FY24
• Net worth stood at Rs. 6,114 Crore as of 30^th December 2024 inclusive of IPO proceeds from primary infusion Rs. 1,000 Crore (Gross)
• Return on assets (ROA) for 9M FY25 stood at 4.3%, as against 4.2% for 9M FY24
• Return on equity (ROE) for 9M FY25 stood at 16.8% (see note above), as against 18.3% for 9M FY24
• Gross NPA as of 31^st December 2024 stood at 1.36%, as against 1.40% as on 31^st December 2023 – Improved by 4 Bp

Commenting on the Q3 & 9M FY25 performance, Mr. Rishi Anand, MD & CEO of Aadhar Housing Finance Ltd said:

 “We have successfully concluded the first nine months of FY25 with a strong growth momentum. There has been consistent growth in our AUM, and we have reached an AUM level of Rs. 23,976 Cr as at the end of Q3 FY25 which is a 21% YoY growth in AUM. Disbursements have remained strong with a growth of 20% (Q3 FY25 Vs Q3 FY24). PAT for 9 months ended 31 st December 2024 stood at Rs. 667 Cr, a growth of 22% on a YoY basis.

Government support remains a key growth driver, further strengthened by urbanization and rising demand. The recent budget announcements on income tax exemptions are set to boost the purchasing power of lower and middle-income groups, driving increased demand for housing loans. Budget allocations under PMAY will further enhance affordability initiatives, benefiting AHFCs that primarily serve low- and middle-income borrowers.

This quarter we have added 12 new branches, taking the total number of branches in the current financial year to 34. This takes our total branches to 557 covering 21 states and 545 districts, enabling us to serve 286K+ live accounts across the country. Geographical expansion has always been our core focus area and we continue to strengthen our market presence through our “deeper impact” strategy. Additionally, we continue to leverage advanced data-driven insights, thereby strengthening our risk assessment, optimized resource allocation, and enhanced portfolio management.We are confident in our efforts and the exciting opportunities ahead, as we continue our commitment to serving the underserved communities”.

MTAR Technologies Lands Rs. 200 Cr Orders in Clean Energy and Aerospace Sectors

Hyderabad, Feb 07, 2025: MTAR Technologies Limited has secured orders worth Rs. 200 Crs in Clean Energy – Fuel Cells, Civil Nuclear Power, MNC Aerospace and Space verticals. Out of the above orders Rs. 157.4 Crs of orders are from Bloom Energy in Clean Energy – Fuel cells division, Rs. 2.7 Crs of orders are for first articles from Fluence in Clean Energy – Energy Storage systems, Rs. 22.0 Crs of orders are from Clean Energy – Civil Nuclear Power and Rs. 17.9 Crs orders are from Space including orders from ISRO and MNC Aerospace customers. Majority of the orders will get executed by end of FY 26.

 “The company is in the process of receiving volume orders for new products with existing customers and new customers in Clean Energy & Space verticals post completion of first articles over the past 2-3 years. We are in final stages of discussion with reputed customers for various other projects that will strengthen our order book over the coming quarters. We expect to register significant growth in Clean Energy and Aerospace verticals backed by robust order book going forward. In addition, we are expecting substantial orders in Civil Nuclear Power by end FY 25.”, said Mr. Parvat Srinivas Reddy, Managing Director, MTAR Technologies Limited.

Green Hydrogen Workshop Set to Enhance India-UK Cooperation in Clean Energy Sector

New Delhi, 7th February 2025:- With an objective to strengthen India-UK cooperation on hydrogen standardization through Green Hydrogen Production & Regulations, Bureau of Indian (BIS), in collaboration with BSI (British Standards Institution) and the UK Government’s Foreign, Commonwealth & Development Office (FCDO), hosted a two-day India-UK Standards Partnership Workshop on Green Hydrogen in New Delhi.

The India-UK Standards Partnership Workshop on Green Hydrogen marks a milestone in fostering international cooperation for achieving clean energy transitions. It serves as a testament to the importance of knowledge exchange, standardization, and innovation in building a sustainable hydrogen market, said Ms. Abbey Dorian, Energy Sector Lead at BSI during the workshop.

She said, “India and the UK have a shared ambition to become leaders in green hydrogen, supporting the goal of a net zero future.”

The event is a part of a schedule of wider activity, through the UK Government’s Standards Partnership programme which aims to increase the use of international standards in India to accelerate growth, attract investment and enhance trade. The event emphasises on safe, scalable & globally harmonized Regulations, Codes and Standards (RCS). The event was also focused at adoption of fast-track PAS (Publicly Available Specification) standards & global hydrogen certification.

The programme also strengthens BIS’s efforts under the National Green Hydrogen Mission. It helped identify gaps in standards, explore new areas, and connect with experts. Insights from global best practices will enhance India’s certification, testing, and standardization, supporting a sustainable and competitive green hydrogen economy.

The event witnessed insightful deliberations by policymakers, technical experts, and industry leaders from India and the United Kingdom. The workshop was inaugurated by Mr. Rajiv Sharma, Deputy Director General (Standardization-I), BIS, Ms. Laura Aylett, Head of Climate and Energy (British High Commission) and Ms. Abbey Dorian, Energy Sector Lead, BSI, underscoring the shared vision of India and UK to foster innovation and sustainability in the green hydrogen sector.

Adidas and Mercedes-AMG Petronas F1 Team Debut Exclusive Fan and Athlete Collection

New Delhi, 7 February 2025 – Today, Adidas and the Mercedes-AMG PETRONAS F1 Team unveil their first collection, marking the beginning of an exciting new era for motorsport. Designed around shared principles of performance and excellence, the debut collections for athletes and fans offer a fresh aesthetic to the paddock, born from sport and built for culture.

The launch sees adidas bring the best of its 75-year obsession of understanding athletes to the lanes of motorsport. Reimagining the design codes of sports and sports lifestyle, the new team wear has been carefully crafted with specific cuts, performance technologies and functionalities to optimally support each member of the team during race weekends, while unifying them – and their fans – with a central design story of black, white and shades of the iconic Mercedes-AMG PETRONAS F1 Team teal.

Blending lifestyle aesthetics and performance functionality across apparel, footwear, and accessories, the range features a comprehensive line-up for one of the leading teams in motorsport, including: –

Driver wear: Pinnacle to the collection, is the paddock wear created for Mercedes-AMG PETRONAS F1 Team drivers, George Russell and Kimi Antonelli – which bring sport-first, performance cuts to the paddock. Recoding drivers as the athletes that they are, this product launches in a lightweight fabric made with AEROREADY technology, to support athletes to stay calm and focused in moments of pressure.

 Mechanics: Recognizing the physicality of the role, adidas and the Mercedes-AMG PETRONAS F1 Team aimed to create products that offer durability when working on machinery, flexibility when maneuvering at pace and the ability to keep the athletes cool under pressure in a range of climates. This is reflected in the details of the mechanics tops, with a cut tailored to provide mobility, a lightweight fabric, and the addition of reflective details to the front and back.

 Engineers: For the role which can make or break wins in key moments, the range fuses lifestyle cues and performance technologies with traditional cuts synonymous with these team architects. A hero piece crafted for the engineers is the lightweight, technical polo top, created with breathable materials to replace the classic white shirt.

 Fanwear: To unite the motorsport community with the Mercedes-AMG PETRONAS F1 Team, additional fanwear and driver fanwear collections are unveiled, providing this passionate fanbase with a multitude of ways to style their support for the team. Fusing influences of streetwear with motorsport culture, the collection includes loungewear, hoodies, tops and t-shirts, with additional driver-specific fanwear coming later this year.

The range features a holistic offer of special edition performance and lifestyle trainers to complete the collection. Iconic running silhouettes, Ultraboost 5 and Supernova, provide added comfort and performance in the paddock, whilst iconic adidas sneakers further allow fans to pledge their support from the sidelines and beyond. The collection is completed with a selection of technical and lifestyle caps so fans can identify themselves with their favourite team, bringing them closer together.

BIANCA MAST, PRODUCT LEAD AT ADIDAS SAID: “The collection is the culmination of hard work and dedication from our creation teams to deliver a collection that supports the sporting performance of the whole team in everything they do and is also one that fans can proudly wear both on the streets and in the stands at races. We believe sport is for everyone, at every level, and motorsport is no different. Together with the Mercedes-AMG PETRONAS F1 Team, the prospect of bringing the pinnacle of motorsports to a new audience is a one that truly excites us – and we can’t wait to see the famous three stripes in the paddock this season.”

GEORGE RUSSELL, DRIVER AT THE MERCEDES-AMG PETRONAS F1 TEAM SAID: “It’s incredible for us as a team to work with a brand like adidas that truly understands what it is like to operate at the highest levels in sport. Their knowledge, expertise and attention to detail is something that is only going to benefit us as a team and hopefully give us an advantage as we set out to fight for race wins and championships, both this season and beyond.”

KIMI ANTONELLI, DRIVER AT THE MERCEDES-AMG PETRONAS F1 TEAM SAID: “We’re hugely excited to work with adidas as a team, and personally, as I look forward to my first season in F1, it feels even more special and I’m so glad to be working with a partner who truly understands the athlete’s mindset. The first time I wore the new kit with my teammates is a moment I will remember forever, and I can’t wait to look out into the stands and see the fans wearing it too.”

IDFC FIRST Bank Introduces Exclusive package designed for Senior Citizens

7th February 2025, Mumbai – IDFC FIRST Bank has unveiled an exclusive and specialised range of banking products and services specifically curated to address the unique financial requirements of the elderly members of the society.

These offerings, include the Senior Citizen Savings Account and Senior Citizen Fixed Deposits, reaffirming the bank’s commitment to provide superior, secured and customised financial solutions for this important customer segment.

Under this program, the Bank has introduced a dedicated feature on its Mobile Banking App called ‘Senior Citizen Specials’. This feature offers to senior citizens

a. Safe, secure, and customised investment solutions as applicable to senior citizens’ needs based on their life-stage.
b. Additional 0.5% interest rate on fixed deposit
c. No penalty on pre-mature closure of the FDs
d. Cyber Insurance Coverage of ₹2 lakhs to protect our senior citizens from rising cyber threats,
e. Complimentary one-year MediBuddy health membership with unlimited complimentary doctor video consultations for up to 4 family members
f. Up to 15% discount in network pharmacies, a full body health checkup covering 50+ parameters, and a ₹500 wallet balance to avail.
g. The mobile banking app also provides access to a simplified mutual fund investment experience which is backed by innovation and research. The MF offers are conservative, and can be modified by the senior citizen based on their own risk-reward appetite.

 Commenting on the Bank’s offerings for Senior Citizens, Mr. Chinmay Dhoble, Country Head – Retail Liabilities & Branch Banking said, “We want to treat our Senior Citizens special and we are happy to announce specialised and innovative offerings for Senior Citizens. Our Senior Citizen Savings Account eliminates over 30 charges that are typically levied on savings accounts. In addition, we have put together a very special package for our esteemed senior citizens, with no premature breakage penalty on fixed deposits, health benefits, cyber insurance and a special app customised for seniors. We hope this is liked by our seniors and this will be a tribute for their contribution to us.”

Hero MotoCorp reports revenue of Rs. 10,211 cr. In Q3 FY’25 – PAT at Rs.1,203 cr grows by 12%

Bengaluru, February 7, 2025

HERO MOTOCORP REPORTS REVENUE OF Rs. 10,211 Cr. IN Q3 FY’25 – PAT AT Rs.1,203 Cr GROWS BY 12%

REGISTERS HIGHEST EVER REVENUE AND PROFIT FOR FIRST NINE MONTHS OF FISCAL YEAR

DECLARES INTERIM DIVIDEND OF RS. 100 PER SHARE (5000%)

Highlights for Q3 FY’25 (Oct‐Dec’24)
Highlights for YTD FY’25 (April‐Dec’24)

• Volume – 14.64 lakh units of motorcycles and scooters sold in Q3 FY’25 (vs 14.60 lakh units Q3 FY’24)
• Revenue from operations – Rs.10,211 Crore (vs Rs. 9,724 Crore), reflecting a growth of 5%. over the corresponding quarter in the previous fiscal
•  Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q3 FY’25 stands at Rs. 1,476 Crore, a growth of 8%
•  Net Profit After Tax (PAT) ‐ at Rs. 1,203 Crore a growth of 12%.
• Volume – 45.19 lakh units of motorcycles and scooters sold in nine months FY’25
•  Revenue from operations – Rs. 30,818 Crore (vs Rs.27,936 Crore), reflecting a growth of 10%. over the corresponding period of previous fiscal
•  Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the nine months stood at Rs. 4,452 Crore, growth of 14 %
•  Net Profit After Tax (PAT) – Rs. 3,529 Crore, growth of 20 %

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today, reported its financial performance for the third quarter (October-December 2024) of FY’25.

The company’s Revenue from Operations for the quarter stood at Rs. 10,211 Crore, this is the third consecutive quarter when the Company has reported revenue above Rs.10,000 Crore. Furthermore, the EBITDA margin expanded over the previous year and stood at 14.5%. Profit After Tax (PAT) stood at Rs.1,203 Crore, a growth of 12% over the previous year.

The consolidated Revenue and PAT for the quarter were Rs.10,260 Crore and Rs.1,108 Crore, respectively.

The company declared an interim dividend of Rs. 100 per share i.e. 5000%.

Hero MotoCorp gained market share in the 100cc segment through Splendor and in the 125cc segment through Xtreme 125R and Super Splendor. It also reported the highest-ever quarterly retail sales, led by the highest-ever festive retail.

Hero MotoCorp’s growth was also led by robust performance in both the EV and global businesses. VIDA reported highest-ever monthly retails and gained market share during the quarter. The company also gained momentum in global business, growing ahead of the industry; Bangladesh and Colombia leading the way.

The company recently launched four products at the Bharat Mobility 2025, bolstering presence in premium and scooter segment. The deliveries of the new products will commence in March 2025.

Vivek Anand, Chief Financial Officer (CFO), Hero MotoCorp, said, “The performance in this quarter and fiscal year, reflects the successful execution of our strategic priorities. Demonstrating strong year-to-date results in both top-line and bottom-line growth, we have achieved the highest-ever nine-month revenue and profits.

“As we move into the next fiscal year, the products launched at Bharat Mobility will further strengthen our presence in the premium and scooter segments.

“The Union Budget 2025’s emphasis on tax relief for the middle class, along with continued investment in infrastructure and support for the agricultural sector, is expected to boost consumer confidence and drive demand growth in the auto industry.”