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Magic Marquez converts 92nd career pole to debut Sprint podium

Portugal, March 27, 2023: Marc Marquez surprised even himself as he secured a record-breaking pole and converted it into a history-making podium in the first MotoGP Sprint.

Saturday, March 25, saw history made as the MotoGP World Championship contested its first-ever Sprint race. The morning started with pure excitement and elation for the Repsol Honda Team as Marc Marquez went through Q1 with just a single run, bettering the lap record set by Jack Miller the previous day. This was then converted into a truly spectacular performance in Q2 as Marquez again improved on the lap record to take a sensational pole position. Repsol Honda Team teammate Joan Mir narrowly missed out on the second transfer spot and secured 14th on the grid for his MotoGP debut on the Honda RC213V.

Tension filled the air as the MotoGP class lined up for the Sprint race, an incredible 12-lap contest awaiting them. From pole position, Marquez got an explosive start as he and his Repsol Honda Team RC213V rocketed off the line to lead the first lap. Defending well for the opening laps, the #93 was able to maintain his position in the leading group and waited as the riders ahead battled. In the final moments of the race, Oliveira and Miller opened a gap and the eight-time World Champion was able to attack – moving up into third.

With his 64th premier class pole, Marquez’s 1’37.226 set a new outright lap record around the Portuguese circuit. This is Marc Marquez’s first pole position since the 2022 Japanese Grand Prix and his first pole in dry conditions since the 2019 Japanese Grand Prix – some 1,253 days ago. Marc Marquez heads into Sunday with seven World Championship points, third in the World Championship standings.

From 14th on the grid Mir was immediately locked into a tense battle with the riders around him. Recovering positions and already showing a pace faster than those ahead, the #36 began to pick his way forward and passed several riders on the opening lap. Unfortunately Turn 13 would see Mir’s race come to an end as he lost the front, colliding with Fabio Quartararo as a result.

Racing continues tomorrow, Sunday, March 26, as the Portuguese Grand Prix is scheduled to run at 15:00 Local Time. This will be a full-distance race, 25 laps where Marc Marquez will again start in the pole position.

Marc Marquez – Third

“Well, today was really a surprising day but it was a great day, it helped to restore a lot of confidence for myself and the team. Starting with the pole, honestly, I don’t know how I was able to find this time – it was much faster than I had been before. It’s a good advantage to start from pole position and we were able to fight in the Sprint race. When I saw Oliveira and Miller go wide, I knew this was my chance and I attacked. The new format is very demanding, but I think this short race was a good show for the fans. Tomorrow is what really counts and will show where we are more I think.”

Joan Mir– DNF

“Starting in 14th is a lottery, you have a lot of riders around you who are very eager to recover positions as quickly as possible. It was a very aggressive start to the race because of this, I think if we were starting up higher then we could show our true pace. We have good pace for the race tomorrow, so this makes me feel more confident if everything is more calm at the start. I also want to apologise to Fabio for the contact.”

Portuguese GP – Sprint Race

Rider Standings

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IMPACT by Honeywell concludes Holi special customer connect campaign ‘Let’s make an impact together’

India, 27th March 2023: IMPACT by Honeywell, a leading player in the Automatic Identification and Data Capture (AIDC) segment, has successfully concluded its Holi special customer connect campaign ‘Let’s make an impact together’. Through this campaign, it engaged with the end users and partners to recognize their contribution and celebrate collective success together on the occasion of Holi.

Honeywell has conducted this drive over 5 locations like, Lamington road and Andheri IT market in Mumbai, Nehru place and Janakpuri IT market in New Delhi, Naza IT Market in Lucknow, PCMC IT market in Pune and Kocher IT market in Ludhiana. The campaign brought together customers and partners to showcase the brand’s latest offerings and build lasting relationships.

With the IMPACT series of AIDC solutions like barcode printers, barcode scanners, and mobile computers, Honeywell has established trust in the market that global brands can also offer localized offerings and support at competitive pricing without compromising on product quality.

IMPACT by Honeywell is a brand created by Honeywell International to cater to the growing mid-market segment in India. The brand has been delivering innovative, sustainable, affordable, simple, and connected solutions that cater to sectors such as retail, manufacturing, healthcare, e-commerce, and supply chain. Their offerings include point-of-sale solutions, warehouse automation, digital safety & productivity solutions, and asset tracking.

Jaipur-based retail jeweller Motisons Jewellers files DRHP for IPO

New Delhi, 27th March 2023:- Jaipur-based Retail Jeweller player Motisons Jewellers, has filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO) with a fresh issue of 3,34,71,000 equity shares, with no offer for sale component.

The company had filed preliminary IPO papers with Sebi in September last year.

The issue has a face value of Rs 10 per equity share for the proposed share sale. The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

The company, in consultation with the lead banker to the issue, may consider a pre-IPO placement of up to 60,00,000 equity shares for cash consideration. If such placement is completed, the fresh issue size will be reduced.

The proceeds from its fresh issuance worth Rs 58 crores for the repayment of existing borrowings availed by the company from scheduled commercial banks, Rs 71 crore for funding working capital requirement besides general corporate purposes.

Motisons Jewellers is managed by second generation entrepreneurs, Sandeep Chhabra, Chairman & Whole Time Director and Sanjay Chhabra, Managing Director, sons of Late Moti Lal Chhabra, who have over two decades’ years of expertise in the jewellery industry. It began operations in 1997 by opening a showroom in Johri Bazaar in Jaipur, Rajasthan, with approx. 304 sq. ft. in area and with growth in the business expanded it to 1355 sq. ft. by 2002. The flagship store ‘Motisons Tower’ is located at Tonk Road, Jaipur with an area of approx. 11,700 Sq Ft and has 3 floors, a floor each dedicated for silver, gold, and diamond jewellery respectively.

Currently it has a 4 showroom networks under the “Motisons” brand, located across the city of Jaipur, with the most recent outlet, opened in the year 2021, at Vaishali Nagar. Its manufacturing facilities are located at Sitapura Industrial area and Bapu Nagar, Jaipur.

It primarily sources finished jewellery from third party suppliers located across India and its business involves sale of jewellery made of gold, diamond, kundan and sale of other jewellery products that include pearl, silver, platinum, precious, semi-precious stones and other metals, gold and silver coins, utensils and other artifacts across multiple prominent locations in Jaipur, Rajasthan.

Its product portfolio comprises of over 300,000+ jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points.

The jeweller launched its website in 2011 and commenced online sales in 2018 to serve younger and tech-savvy customers, who can browse the catalogue based on preferences, collections and designs, and purchase the jewellery directly and have it delivered to their homes. It also arranges virtual appointments to assist its customers.

Motison’s clocked a profit of Rs 14.75 crore in the financial year FY22 against Rs 9.67 crore in the previous year. Its profit for the six-month period ended September 2022 stood at Rs 10.00 crore on revenue of Rs 162.02 crore. The companies’ revenue from operations climbed 47.55% from Rs 213.04 crore in fiscal 2021 to Rs 314.33 crore in Fiscal 2022, attributable to an increase in sale of jewellery i.e., gold and studded jewellery.

According to the CareEdge Report in its DRHP, in FY22 it recorded the second best Debt EBITDA ratio of 3.91 amongst its listed peers in India. Its Debt to Equity Ratio has fallen from 1.50 in 2020 to 1.28 as on September 30, 2022 where as other players like Thangamayil Jewellers have seen an increase in its debt to equity ratio from 1.07 in FY19 to 1.50 as on September 30,2022

Additionally states, the G&J industry’s market size was estimated to close at USD 60 billion in CY21. The Indian jewellery market is traditionally dominated by gold jewellery. In CY21, the total demand for gold by Indian consumer was estimated at 800 tonnes. Compared to the previous year the demand for gold witnessed a growth of approximately 78% in CY21. A majority of the demand in CY21 came from gold jewellery which was approximately 75% (600 tonnes). There has also been a noticeable shift towards more informal and everyday use of diamond studded jewellery.

Holani Consultants Private Limited is the sole book running lead manager to the issue and Link Intime India Private Limited is the registrar to the issue.

VTP Realty delivers 36 Lakh Sq.Ft. and hosts Pune’s Largest Gruh Pravesh Event on Gudi Padwa, marking significant milestones

Pune, India – March 27, 2023 – VTP Realty, the leading real estate brand of Pune in terms of sales revenue, has reinforced its market dominance by delivering an impressive 36 Lakh Sq.Ft. in a single financial year. With over 38 years of group legacy and a strong commitment to excellence and innovation, the company has been on an exponential growth trajectory for the past seven years and has been the market leader for five consecutive years.

The brand has not only established brand dominance on the business front but also in terms of delivery. Based on a solid foundation of Better Build, Better Design and Better Care as our core philosophy, the organization is a well-oil machinery when it comes to delivering homes that their customers have entrusted them with.

Brand VTP currently has 3 crore square feet under construction simultaneously out of which 36 lakh square feet has been delivered only in a single year! That amounts to 4117 homes handed over in a year. Such a feat is rare in the industry and very few other brands have such massive strength.

Additionally, VTP Realty hosted the single largest Gruh Pravesh event on Gudi Padwa, one of the most auspicious days for new beginnings in the Hindu calendar. The event saw 1778 families conducting Gruh Pravesh ceremonies on the same day across 5 projects. This extraordinary accomplishment has shattered all previous records in the Pune real estate market and perhaps the India market too.

These milestones have solidified VTP Realty’s position as the leading real estate company in Pune for the fifth consecutive year in terms of revenue generation. The brand’s unwavering commitment to excellence and innovation has consistently placed it at the forefront of the industry. What sets the brand apart is its customer centricity, strong partnerships with all stakeholders, its choice of strategic locations for development, its experienced management team, and above all a strong vision and commitment to its customers.

With VTP Realty, the real estate industry has got a very strong brand with solid credentials. It is one of the few brands that deliver more than promised. This is a rarity in the industry and thereby improving the trustworthiness of the entire industry.

VTP Realty is a part of the VTP Group, which has a diverse range of businesses, including cement, construction materials, and engineering services. This backward integration allows VTP Realty to leverage the resources and expertise of the group, leading to cost savings and operational efficiencies.

Mr. Sachin Bhandari, Executive Director and CEO of VTP Realty, expressed his pride in the company’s achievements. “Our dedication to quality and customer satisfaction has been the driving force behind our record-breaking success. Our team’s tireless efforts have enabled us to make a difference in the lives of thousands of families and ensured our strongest financial performance yet. By the end of this financial year, VTP Realty will cross the 4000 crore mark in revenue as well! We’re thrilled to be expanding our offerings with the launch of VTP Homes and VTP Luxe, our two new offerings that will change the real estate landscape of Pune completely over the next few years.” said Mr. Bhandari.

With VTP Realty, the real estate industry has a strong brand with solid credentials that delivers more than promised, improving the trustworthiness of the entire industry.