Author: Neel Achary

Milind Soman Becomes Brand Ambassador for Tasty Nibbles Ahead of National Expansion

New Delhi,  May 13: Tasty Nibbles, the consumer brand of HIC-ABF Special Foods  has announced Milind Soman as its brand ambassador while outlining the company’s plans  to accelerate pan-India growth, especially in the health-focused convenience food segment. The event marks a significant milestone in the brand’s growth journey as it sets its sights on  pan-India expansion, with a strategic focus on its flagship category – canned tuna.  

“At Tasty Nibbles, we have always believed that the future of food lies at the intersection of  health, convenience, and trust. With Milind Soman coming on board, we are taking a  significant step towards making tuna a part of everyday Indian diets. India is still at a very  early stage in tuna consumption, and this presents a massive opportunity for us to introduce  a clean, high-quality protein option to millions of households,” said Cherian Kurian,  managing director, Tasty Nibbles at the company’s brand ambassador announcement event  in New Delhi. The event was also attended by Sunil P Krishnan, vice-president (sales) and  Manoj TP, senior manager – key accounts, along with distributors, key industry stakeholders and representatives from e-commerce, and quick-commerce platforms. 

“Despite being a globally popular protein source, the per capita consumption of tuna in India  remains significantly low. With a population of over 1.4 billion, the category presents a  substantial opportunity for growth if effectively introduced and adopted”, Cherian said. 

“I have always believed that good health starts with what we eat every day. Tuna is one of the  simplest and most effective sources of lean protein, and what I like about Tasty Nibbles is how  they make it accessible, convenient, and easy to include in daily meals. I’m excited to be part  of a journey that encourages people to make smarter, healthier food choices,” said Milind  Soman. 

Known for his fitness-driven lifestyle and credibility in the health and wellness space, Milind Soman embodies the values that Tasty Nibbles aims to promote through its tuna range. Through this initiative, the brand aims to position tuna as more than just a source of protein.  Packed with high-quality protein, rich in Omega-3, and loaded with essential vitamins, tuna is  also carb-free, low in fat, and a convenient addition to the everyday diet of health-conscious  consumers. The brand also showcased the convenience of its canned tuna, highlighting it as  a cleaned, cooked, and ready-to-eat product with soft, thornless white meat, suitable for quick  and versatile usage across salads, sandwiches, rolls, and more. 

With this announcement and campaign launch, Tasty Nibbles aims to redefine tuna  consumption in India, transforming it from a niche offering into a regular, accessible, and  healthy choice for modern lifestyles.

CleverTap and Rabbit Rewards win Silver at Thailand MarTech Awards 2026 for real-time, agentic customer engagement

Mumbai’s Next Luxury Wave Will Rise from Redevelopment, Not Land Banks

By:- Suhan Shetty, Founder, Rubics Group 

Mumbai as a city has always reinvented itself under pressure. Defined by the surrounding sea, and thick density, real estate in the financial capital has always oscillated between expansion and reinvention. However, today that balance has somehow shifted. With paucity of land becoming a huge concern, redevelopment, and not land banking, is emerging as Mumbai’s next luxury trend. 

For decades, land banks were thought of as a salient real estate strategy. Developers acquired undeveloped plots, then held on to them for years before unlocking their value. However, in a market of 438 square kilometres is already land constrained and built-up, this model no longer is viable, or practical. Factors like high acquisition costs, scarce land, fragmented ownership patterns, and regulatory complexities has made greenfield development increasingly difficult.

Redevelopment in comparison, offers a much more pragmatic solution. It helps developers to unlock value from existing sites, without acquiring the otherwise scarce fresh land. In other words, redevelopment can be known as a form of strategic “land banking”, making use of the city’s already urbanised infrastructure. With Mumbai’s population exceeding 21 million, redevelopment is no longer an optional solution, rather is an essential step to transform the city. 

Since 2020, more than 910 housing societies have undergone redevelopment, accounting for 327 acres of land. However, the effect of this goes far beyond numbers; this unveils a new reimagining of urban living. Old, low-rise and dilapidated buildings, are now being converted to vertical structures, replete with modern infrastructure, smart technologies, and sustainable features such as solar energy systems and EV-ready facilities.

Mumbai’s vertical transformation is also reshaping the city’s economic growth. Property values have been steadily appreciating, with projections suggesting that redevelopment could generate revenue worth Rs 1.3 lakh crores by 2030. For both homebuyers and investors, this presents a golden opportunity to buy premium properties at affordable rates, before prices escalate further. 

What marks this phase even more crucial, is the quality of development. Redevelopment projects are not mere replacements for old buildings, they are in fact, comprehensive urban upgrades; these societies serve as integrated neighbourhoods with metro connectivity, wellness-focused amenities, and green design principles. Features like infinity pools, private cinemas, spa facilities, and landscaped sky gardens are no longer limited to South Mumbai-they are a key aspect of suburban living. 

This shift is clearly reflected in market trends. Luxury properties (defined as properties above 10 crores), have seen unprecedented growth. In the first half of 2025 alone, sale from such properties touched a staggering Rs 14,750 crore, marking an 11 per cent year-on-year increase. Interestingly, the Rs 20–40 crore segment has expanded by 138 percent since 2022. The consensus is quite clear-the dominance of the primary market, which accounts for 75 per cent of these transactions, reveals a marked shift to new, redeveloped led projects, rather than resale inventory.

The key examples of this transformation include micro-markets such as Bandra, Khar, Santacruz, Juhu, Chembur, Goregaon and Borivali, where both standalone and cluster redevelopment projects are upgrading old neighbourhoods. These projects are not just improving housing stock, they are elevating the standard of living by improving infrastructure, optimising land use, and integrating communities. 

A crucial push for this shift comes from Policy control. The Development Control and Promotion Regulations (DCPR) 2034 have introduced major provisions that incentivise redevelopment. Clauses such as 33(7), 33(9), and 33(10) set down clear frameworks that are tailored to different scales of projects-from individual societies to large cluster developments. Standalone redevelopment under Clause 33(7) offers increased floor space index (FSI), and additional saleable area, while cluster redevelopment under Clause 33(9), enables FSI of over 4.0 in select areas, helping the creation of master-planned precincts.

This apart, recent policy relaxations, such as including reduced premiums and an additional 10 per cent FSI for self-redevelopment, have further accelerated the viability of such developers. These factors have attracted developers to the suburbs, where land scarcity augments the value of every square foot.

Another important factor is that redevelopment is unravelling alongside major infrastructure upgrades. The opening of the Navi Mumbai International Airport, the completion of the Mumbai–Pune Expressway missing link, the Sewri–Worli corridor, and the Panvel–Karjat rail line have massively improved connectivity across the metropolitan region. This in turn, reduces congestion in central areas and improves the appeal of suburban micro-markets, where redevelopment activity is most intense.

This robust growth cycle is a combination of infrastructure, policy reform, and market demand. This apart, hybrid work patterns, and an increased focus on wellness and sustainability, is driving many to invest in high quality homes, a dream made possible through redevelopment. The future of Mumbai’s real estate market will no longer be defined by acquisition of new land, but by the thoughtful use of existing spaces. With redevelopment, the city is poised to grow vertically, while improving liveability, sustainability, and economic value.

As policymakers streamline approvals and developers redefine their inventory, redevelopment will be an intrinsic part of Mumbai’s real estate narrative, with buyers gaining early access to premium properties before price hikes. For Mumbai, this shift is carving a path to sustainable growth where land is no longer available, but the possibilities to upgrade living, are limitless. Hence, it will be prudent to say that Mumbai’s new luxury wave will not be propelled from the edges, but from the within the core of the city. 

Ashok Leyland expands its footprint in Gujarat, Opens a new LCV dealership in Jamnagar

Chandigarh, May 13: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, today inaugurated its new dealership for Light Commercial Vehicles in Jamnagar. This is the 13^th Light Commercial Vehicle dealership in the state of Gujarat, further strengthening its robust LCV distribution network, which now spans over 945 customer touchpoints across the country.

The new channel partner Karan Autolink has a 3S (Sales, Service and Spares) facility strategically located at Jamnagar Rajkot Highway. The facility is equipped with 7 service bays and state-of-the-art infrastructure to ensure superior customer experience. The company currently offers a range of LCV products – SAATHI, DOST, BADA DOST, PARTNER and MiTR.

Mr. Viplav Shah, Head – LCV Business, Ashok Leyland Ltd. said, “We are excited to further strengthen our presence in the key market of Gujarat with our new dealership coming up in Jamnagar. The  DOST, BADA DOST and SAATHI vehicles have been receiving an overwhelming response from customers,  owing to their best-in-class mileage, superior performance, and extensive sales and aftersales support. This new dealership is yet another step in reinforcing our reach and ensuring that we provide the best experience to our valued customers.”

Our products cater to the evolving needs of Indian LCV customers, combining best-in-class technology with unmatched reliability. Today, over 6 lakhs+ Ashok Leyland LCVs operate across India, reflecting our strong presence in the segment. SAATHI, our latest offering in the premium entry-level SCV segment has been a gamechanger in the industry. Powered by a new-generation 45 HP engine delivering 110 Nm of torque, the SAATHI offers the largest loading area in its segment and an industry-leading payload capacity of 1,120 kg.

BADA DOST is offered in six variants and is powered with an 80 hp BS6 engine that delivers best-in-class power & mileage, best-in-class payload, best-in-class load body length and loading space that helps customer earn more profit per trip. Owing to its low turning radius and best-in-class ground clearance, BADA DOST is the ideal vehicle for inter and intra city applications.

DOST range comes in avatars of  DOST XL and DOST+ XL to cater to different sections of the market and applications.

PARTNER, a modern & highly fuel-efficient load carrier, caters to the 4-ton payload segment and is available in both 4 tyre and 6 tyre options. PARTNER is based on an internationally acclaimed vehicle platform & carries the renowned ZD30 CRDI engine.

MiTR bus is offered in both staff bus & school bus options. It provides superior mileage even in stop-and-go conditions. MiTR School Bus complies with all school bus safety norms & offers unmatched ride comfort.

Inc. 5000 Agency Founder Ric Militi Launches Leadership Series Inspired by InnoVision’s Internal Success Framework 

Red Hat Launches New Developer Tools for Agentic AI

New Delhi, Delhi, India May 13: Red Hat, the world’s leading provider of open-source solutions, today announced expanded capabilities across its developer portfolio specifically built for the requirements of AI agents. Through the newly-available Red Hat Desktop and enhancements to Red Hat Advanced Developer Suite, Red Hat intends to smooth the transition from agents running locally on developer workstations to production-scale deployments across the hybrid cloud. 

Euro Pratik Sales Delivers Strong Q4FY26 Performance; PAT Rises 50 percent YoY to ₹21.5 Cr on Robust Demand and Strategic Expansion

Mumbai, May 13: Euro Pratik Sales Ltd, one of India’s leading decorative surface and wall panel companies, announced its financial results for the quarter and year ended 31st March 2026, reporting strong growth across key financial metrics driven by product innovation, expanding market presence, and operational efficiencies.

FY26 marked another milestone year for the company with healthy revenue growth, strong profitability, strategic regional expansion, and continued strengthening of its product portfolio. Euro Pratik continues to consolidate its leadership position in the organized decorative wall panel and laminates segment through its design-led offerings, robust distribution network, and asset-light business model.

KEY BUSINESS & STRATEGIC UPDATES

• Successfully integrated URO Veneer World, strengthening the company’s footprint in South India
• Acquired Chawla Brothers in April 2026, further expanding presence in North India
• Continued product innovation with launches such as Canfor 2 and Chisel 2026 series catering to evolving consumer preferences
• Introduced new textures including Stonite, PolyASSA, and Lamart, reinforcing Euro Pratik’s positioning as a design-forward surface solutions brand
• Continued to operate with a debt-free balance sheet supported by strong internal accruals

KEY FINANCIAL HIGHLIGHTS FOR FY26

• Revenue from Operations stood at ₹334.0 Cr+, growing 18% YoY
• Profit After Tax stood at ₹77.2 Cr
• Maintained strong operational and financial discipline
• Continued investments in innovation, distribution expansion, and market development

KEY FINANCIAL HIGHLIGHTS FOR Q4 FY26

• Revenue from Operations stood at ₹93.5 Cr, up 28% YoY
• EBITDA stood at ₹26.7 Cr, up 37% YoY
• EBITDA Margin improved to 27.3% from 25.5% in Q4 FY25
• Profit After Tax stood at ₹21.5 Cr, up 49.5% YoY
• PAT Margin expanded to 23.0% from 19.7% in Q4 FY25

Mr. Pratik Singhvi, Chairman & Managing Director said, “In Q4 FY26, our revenue grew by 28% year-on-year to ₹93.5 crore, while EBITDA increased by 37% year-on-year to ₹26.7 crore. Profit after tax rose by 49.5% year-on-year to ₹21.5 crore. Despite a majority of our products being crude-based, the company successfully navigated currency volatility, rising freight costs, and logistical challenges during the quarter.

Our product innovation engine remains active, with recent launches such as Canfor 2 and the Chisel 2026 series catering to evolving aesthetic preferences at accessible price points. We have also introduced Stonite, PolyASSA, and Lamart textures, further strengthening Euro Pratik’s positioning as a design-forward surface solutions brand.

Following the successful integration of URO Veneer World in South India, the acquisition of Chawla Brothers in April 2026 has further strengthened Euro Pratik’s presence in North India. Backed by a debt-free balance sheet and healthy internal accruals, the company remains well-positioned for future growth opportunities.”

The company also maintained a strong financial position with a debt-free balance sheet backed by healthy internal accruals. On the global front, Euro Pratik expanded its international presence with subsidiaries in the U.S., UAE and Europe.

With continued investments in innovation, distribution expansion and market development, the company remains optimistic about sustaining its growth momentum in the coming years.

AD Ports Group Delivers 41% YoY Net Profit Growth to AED 653 Million in Q1 2026; Best Quarterly Profits on Record

Abu Dhabi, UAE – May 13: AD Ports Group (ADX: ADPORTS), a leading global enabler of integrated trade, industry, and logistics solutions, today reported strong revenue and net profit performance in the first quarter of 2026, demonstrating the resilience of its diversified and integrated trade ecosystem amidst the challenging and complex geopolitical and macroeconomic backdrop.

From a service offering and geographic perspective, AD Ports Group’s diversified operations, and vertically integrated business model based on long-term partnerships and contracts, focused strategy, and operational flexibility, have proven once again to be effective in turning risks into differentiated opportunities. Throughout the obvious challenges posed by the geopolitical situation in the Arabian Gulf, the Group has been able to maintain uninterrupted services, operating normally with precautionary business continuity protocols activated.

Continuity measures include the rerouting of cargo operations and feeder services to Fujairah Terminals and Khorfakkan Port, and deployment of new land and air bridges, complemented by additional warehousing and storage facilities. AD Ports Group launched new regional feeder shipping services to maintain supply chain integrity, redeploying and scaling up its container and bulk cargo vessels fleet, with plans to further increase fleet capacity. The new services connect with ports in India, Pakistan and Oman, as well as Red Sea ports, and ports along the Upper Arabian Gulf region.

The Group also established a land bridge to transport cargo from Fujairah and Khorfakkan through bonded customs corridors across the UAE to Khalifa Port, Jebel Ali Port, and Sharjah, using 800 trucks and four new daily rail services by Etihad Rail. These efforts were supported by the Group’s expanded warehousing and storage capacity for essential goods, currently exceeding 76,000 m2, with plans to more than double to 188,000 m2.

Leveraging its award-winning digital trade infrastructure, the Group also launched new freight management platforms that delivered visibility and resilience, enabling the efficient management of trade flows. By unifying and processing data across the Group’s global operations, these platforms have enabled the Group to act on real-time trade lane intelligence to strengthen supply chain integrity, whilst repurposing empty import containers for export along alternative high-volume corridors, which enhanced resilience and reduced time and cost for customers.

In Maritime & Shipping, the strong performance was a combination of volume and price effects, notably in container feeders, Ro-Ro, and tankers, as well as increased drydocking activities. Container feeder shipping volumes rose 20% YoY to 871K TEUs in Q1 2026, driven by increased services and capacity, whilst the bulk, multipurpose, and Ro-Ro vessel fleet reached 63, up from 41 in the same period a year earlier.

In the Economic Cities & Free Zones Cluster, growth momentum continued with 843,000 m2 (net) new industrial land leases in KEZAD Abu Dhabi, generating strong demand for warehouses, staff accommodation, and utilities provision. KEZAD also completed the sale of a group of warehouses to MAIR Group for AED 295 million and sold a 1.0 km2 mixed-use land plot to Danube Properties for AED 840 million, as part of the Group’s strategy to actively manage its asset portfolio across all business Clusters, and monetise real estate and non-core assets, when opportune.  

In the Ports Cluster, UAE operations remained resilient in the face of challenging regional events, with quarterly container throughput declining 5% YoY and general cargo volumes dropping 23% YoY, which were largely offset by strong growth internationally of 17% YoY and 21% YoY, respectively. In the UAE, container capacity utilisation stood at 54% (57% at Khalifa Port), whilst internationally it reached 65%, up from 58% in Q1 2025.

In Logistics, the global freight environment remains challenging, with rising operational costs, and in the UAE quarterly polymer volumes declined 6% YoY as a result of the regional situation.

In Q1 2026, AD Ports Group continued expanding internationally with a trade corridor and region-focused strategy. The Middle East, Central Asia, Pakistan, Egypt, Sub-Saharan Africa, and Mediterranean regions remained in focus, as the Group continued to build operational scale and long-term partnerships. A 30-year concession was secured for a brownfield multipurpose port in Aqaba, Jordan, and a 30-year concession was signed for a new greenfield dry bulk terminal at Douala Port in Cameroon. In parallel, the Group has continued to interconnect its 38 port terminals with associated maritime and logistics services, increasing synergies and enhancing asset utilisation.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “Faced with rapidly evolving regional developments with global macroeconomic and supply chain implications, AD Ports Group responded decisively in Q1 2026, demonstrating the agility, resilience, and forward-thinking that have underpinned our strong growth over the past two decades. Our Q1 performance was robust, with Group Revenue and Net Profit delivering strong double-digit year-on-year growth of 25% and 41%, respectively. We acted swiftly to mitigate disruption, elevating the ports in Fujairah and Khorfakkan as alternative gateways for the country and the region, launching contingency feeder shipping services, expanding warehousing capacity, and activating integrated land, rail, and air bridges that will sustain our growth into Q2 and beyond. Under the guidance of our wise leadership in the UAE, AD Ports Group will continue to anticipate and adapt to global developments, further strengthening the resilience of our UAE-based global supply chain network, while delivering sustained value creation and growth for our shareholders.”

In its Balance Sheet, AD Ports Group’s debt leverage continued to improve, with a Net Leverage of 3.9x, vs. 4.1x in Q1 2025, and 4.0x in Q4 2025.

Despite a low cash conversion ratio of 62%, Cash Flows from Operations reached AED 943 million in Q1 2026, +30% YoY, on steady growth in operating profit from core operations, and AED 74 million from the asset monetisation programme under a two-year payment plan for the sale of warehouses to MAIR Group.

With quarterly organic CapEx of AED 1.35 billion, the Group generated slightly negative Free Cash Flow to the Firm (FCFF) of AED 348 million but maintains annual guidance of positive FCFF going forward, subject to the evolving regional situation.    

Q1 2026 Financial KPIs

1)EBITDA is calculated by taking net profit and adding depreciation and amortization, finance costs, income tax expense, impairment of investment properties and subtracting government grants, fair value gain on pre-existing interest in a joint venture and finance income.

2)Based on the weighted average number of shares for the period.

Key Developments in Q1 2026

Ports Cluster 

·Joined Africa Ports Development’s (APD) 30-year concession to design, build and operate a new dry bulk terminal at the Port of Douala in the Republic of Cameroon. The agreement establishes an investment structure, under which AD Ports Group together with two other UAE investors own 60% of the operating company, alongside ADP’s 40% ownership, implying an effective economic interest of 51% for AD Ports Group.

·Signed a 30-year concession agreement with Aqaba Development Corporation (ADC) to operate the brownfield Aqaba Multipurpose Port, Jordan’s only and exclusive general cargo and multipurpose seaport. The concession was secured through a JV with AD Ports Group holding 70% ownership and ADC 30%.

·Secured a USD 115 million project finance facility led by the International Finance Corporation (IFC) and National Bank of Kuwait-Egypt (NBK) to support the development of the Noatum Ports Safaga Terminal in Egypt.

Economic Cities & Free Zones Cluster

·Signed a 50-year land lease with Galadari Brothers’ heavy equipment division to establish a AED 75 million facility in KEZAD A (Al Ma’mourah). The 150,000 m2 facility will be used for storage and distribution of heavy machinery and industrial equipment in the region.

·Sold a group of warehouses in KEZAD Logistics Park – KLP Free Zone 3 (FZ3) in Abu Dhabi to MAIR Group for AED 295 million.

·Launched the 450,000 m2 Metal Park, the world’s first pay-as-you-grow metals ecosystem in Abu Dhabi.

·Signed an AED 840 million land sale agreement with Danube Properties for a 1.0 km2 plot located within the 16 km2 KEZAD Town Centre for the development of a residential and mixed-use project.

·Signed a 50-year land lease with Jotun Abu Dhabi to establish a new 83,177 m2 manufacturing facility in ICAD – KEZAD Musaffah with an investment value of AED 450 million. Jotun Abu Dhabi is relocating from its existing 22,000 m2 facility.

Maritime & Shipping Cluster

• Safeen Drydocks, part of Noatum Maritime, acquired 100% ownership of Balenciaga Astilleros Shipyard, one of Spain’s most established and technologically advanced shipbuilding and repair facilities, for a total consideration of EUR 11.2 million.

Others

• Refinanced a USD 2.5 billion syndicated loan with two UAE banks, extending maturity to March 2029, and reducing future borrowing costs.

Key Developments Post Q1 2026

·Signed new land leases for five new projects in KEZAD Al Ain and KEZAD A (Al Ma’mourah), covering a total footprint of over 84,000 m2 and representing a total investment of AED 147 million. The projects are in the automotive (car cleaning products), metal, and logistics industries.

·Sold three warehouses in KEZAD Logistics Park (KLP) in Abu Dhabi to Aldar for AED 650 million.

·Signed a strategic partnership with Tawazun Council for Defence Enablement to develop Al Selmiyyah Defence Industrial Free Zone in Abu Dhabi. Al Selmiyyah will be developed as a zone dedicated to advancing defence manufacturing in the UAE. AD Ports Group will serve as a strategic partner and advisor for the zone, leading the master planning process, shaping land use and infrastructure planning, and providing industrial zone development expertise to support phased delivery, ecosystem integration, and connectivity to regional and global trade networks, in line with international best practices.

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