Category Archives: Business

Nisus Finance Successfully Exits Skytech Estates Investment with 1.5x MOIC

Mumbai, Feb 9: Nisus Finance Services Co Ltd. (Nisus Finance), a leading player in urban infrastructure and real estate finance, today announced the successful and timely exit from its investment in Skytech Estates Private Limited. The exit, completed on February 3, 2026, well ahead of the originally planned timeline of June 2026, yielded an Internal Rate of Return (IRR) of approximately 16.5% and a Multiple on Invested Capital (MOIC) of 1.5x over a holding period of approximately three years.

The investment was made in 2023 through the Real Estate Special Opportunities (RESO) Fund in Senior Secured Redeemable Non-Convertible Debentures of Skytech Estates Pvt Ltd. The issuer is developing Skytech Mall in Rohtak and Skytech Colours Avenue, a residential project in Greater Noida. The successful exit demonstrates Nisus Finance’s ability to identify and support high-quality real estate opportunities beyond India’s major cities, reinforcing its commitment to enabling urban development in emerging markets.

The investment stands fully discharged, with all outstanding dues settled and security interests released, reflecting Nisus Finance’s strong asset management discipline, strategic stakeholder engagement, and execution excellence.

Commenting on the exit, Avadhoot Sarwate, Chief Investment Officer, Nisus Finance Services Co Ltd, said:

“The successful exit from Skytech Estates highlights Nisus’ disciplined asset management, strong execution capabilities in complex real estate investments, and proven ability to actively manage and turn around stressed assets. This transaction reinforces our RESO fund’s focus on well-located projects with strong fundamentals while bringing hands-on structuring, monitoring, and resolution expertise to protect and enhance investor value. Achieving a full and final settlement ahead of schedule underscores our ability to actively manage risk, engage stakeholders effectively, and deliver targeted, risk-adjusted returns for our investors.”

The Nisus team successfully navigated cash flow challenges, protecting investors’ capital while delivering strong risk-adjusted returns through proactive asset management, disciplined enforcement, and strategic stakeholder engagement. This early resolution highlights Nisus Finance’s expertise in managing and restructuring distressed commercial real estate assets.

Zydus Lifesciences Reports Strong Q3 & 9M FY26 Growth Across Pharma, Wellness and MedTech Businesses

Bangalore, Feb 9: Zydus Lifesciences Ltd. today announced its unaudited consolidated financial results for the quarter and nine months ended December 31, 2025, reporting robust growth across its key businesses.

Financial Highlights:

• Q3 FY26: Revenue from operations at ₹68,645 mn, up 30% YoY; EBITDA at ₹18,164 mn, up 31% YoY; Net Profit (Adjusted) at ₹11,109 mn, up 9% YoY.

• 9M FY26: Revenue from operations at ₹1,95,614 mn, up 17% YoY; EBITDA at ₹59,207 mn, up 20% YoY; Net Profit (Adjusted) at ₹38,640 mn, up 15% YoY.

• R&D Investments: ₹6,074 mn in Q3 (8.8% of revenue) and ₹15,750 mn in 9M (8.1% of revenue).

• Capex (Organic): ₹4,637 mn in Q3 and ₹13,568 mn in 9M.

Business Updates:

• India Formulations: Revenue at ₹17,094 mn, up 13% YoY; chronic and super specialty segments continue to lead growth.

• North America Formulations: Revenue at ₹28,043 mn, up 16% YoY; multiple new product launches and approvals, including Zycubo® for Menkes disease.

• International Markets: Revenue at ₹7,881 mn, up 38% YoY with broad-based regional growth.

• API Business: Revenue at ₹2,143 mn, up 26% YoY.

• Consumer Wellness: Revenue at ₹9,578 mn, up 113% YoY with full consolidation of Comfort Click Limited.

• MedTech: Revenue at ₹2,996 mn, following full consolidation of Amplitude Surgical.

Operational and Compliance Highlights:

• USFDA inspections completed with EIR status for Jarod injectable (VAI) and Ahmedabad OSD facility (NAI).

• CE mark approval received for proprietary ‘Andy’ robotic surgical system.

Innovation Pipeline Updates:

• NCE Research: Preparing NDA filing for Saroglitazar Magnesium with the USFDA.

• Biotech: Phase III trial approved for second biosimilar antibody drug conjugate in India.

• Vaccines: Phase II trial initiated for Bivalent Typhoid Conjugate Vaccine; awarded rabies and typhoid vaccine supply tenders for PAHO and UNICEF.

• US Specialty & Biosimilars: Licensing and commercialization agreements for novel 505(b)(2) oncology product and biosimilar Pembrolizumab; BLA approval for Nufymco® (biosimilar Ranibizumab).

Commenting on the results, Dr. Sharvil Patel, Managing Director, said:

“Our robust performance across key businesses reinforces the strength and scalability of our base business. Our disciplined M&A and business development strategy is translating into tangible results. Anchored in patient centricity, supported by compliance and an agile supply chain, we remain focused on consistent execution and driving long-term shareholder value.”

Zydus Lifesciences continues to strengthen its pharma, wellness, and medtech portfolios, delivering innovative solutions to global markets while creating sustainable value for shareholders.

Mahindra bags its biggest ever export order; 35,000 units of LCVs to be delivered to Agrinas Pangan Nusantara, Indonesia in 2026

Chandigarh, Feb 9: Mahindra & Mahindra Ltd. (M&M), today announced that it will supply 35,000 units of Scorpio Pik Up vehicles in 2026 to Agrinas Pangan Nusantara, an Indonesian state-owned enterprise, for the Koperasi Desa/Kelurahan Merah Putih (KDKMP) Project. These Pik Ups will play a crucial role in enhancing logistics for Koperasi (Cooperatives) being set up in the country.

Under this partnership, Mahindra and Agrinas Pangan Nusantara will work together to equip Koperasi with robust, reliable vehicles to ensure effective and seamless flow of fresh supplies from farmers directly to the marketplace, thereby bridging the gap between producer and consumer. This collaboration aims to enhance rural logistics and enable villages to become independent centers of economic growth.

Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra Ltd., said,

“We are looking forward to this association and to supporting Indonesia’s Koperasi through our partnership with Agrinas Pangan Nusantara. By deploying the Scorpio Pik Ups as a part of the Koperasi, we are strengthening a reliable logistics backbone that connects farmers to markets more efficiently. Our Pik Ups are engineered to perform in tough conditions while keeping operating costs to a minimum. The volume committed for this partnership will significantly boost our International Operations, adding as much as our total export volumes achieved in FY 25. In line with Mahindra’s Rise philosophy, this collaboration reflects our commitment to enabling prosperity and supporting national priorities.”

Manufactured at Nashik Plant, Scorpio Pik Ups are globally recognized for their durability, payload capacity, and low operating costs. These vehicles are tailored to meet the operating requirements of Koperasi – from rough rural roads to farm tracks.

Mahindra Scorpio Pik Ups will bolster Koperasi ecosystem by providing first-mile aggregation, which involves transporting produce from farms to cooperatives, and facilitating intra-village logistics, ensuring the efficient movement of goods within the cooperative network.

Taj Coromandel, Chennai Hosts a Romantic Poolside Valentine’s Day Affair

Chennai, Feb 09: This Valentine’s Day, Taj Coromandel, Chennai invites couples to celebrate love under the stars with an enchanting poolside and indoor dining experience at Prego. Designed for an evening of indulgence and togetherness, the celebration combines intimate seating, soft ambient lighting, and a thoughtfully curated Valentine’s Day menu.

The evening begins indoors with beautifully presented salads, soups, and appetizers, including Verdure di Minestrone and Truffle Verdure Cesta, setting the stage for a romantic night. Guests can then enjoy the poolside live grills and main course counters, featuring dishes such as Oven-baked Parmesan Chicken with Spicy Tomato Sauce, Ginger and Garlic Marinated Pan-seared Fish with Coconut Cream, and Cinnamon-flavoured Roasted Lamb with Root Vegetables.

No Valentine’s celebration is complete without dessert, and Prego offers a sumptuous dessert showcase. A flowing chocolate fountain takes centre stage, accompanied by handcrafted creations including Strawberry Stack Cakes, Spiced Chocolate, Ruby Chocolate Cremeux, and Lemonchillo Tiramisu.

The blend of indoor elegance, open-air romance, and a menu crafted for love promises an unforgettable Valentine’s evening for couples at Taj Coromandel.

Event Details:

• Venue: Prego, Taj Coromandel, Chennai

• Date: February 14, 2026

• Time: 19:00 – 23:00 hrs

Celebrate love this Valentine’s Day with a night of culinary delight, romance, and memories to cherish at Taj Coromandel, Chennai.

Kapston Services Ltd Reports Strong Q3 & 9MFY26 Financial Performance; Board Recommends Bonus Issue

Hyderabad, Feb  09: Kapston Services Ltd, an end-to-end manpower solutions provider, has announced its financial results for the third quarter and nine months ended December 31, 2025 (Q3 & 9MFY26), reporting robust growth across revenue, profitability and margins.

Financial Highlights

Q3 FY26 Performance (YoY):

• Total Revenue: ₹212.85 crore, up 10.86% from ₹182.77 crore in Q3 FY25
• EBITDA: ₹11.42 crore, up 36.77% from ₹8.35 crore
• Profit After Tax (PAT): ₹7.43 crore, up 64.02% from ₹4.53 crore

9M FY26 Performance (YoY):

• Total Revenue: ₹615.42 crore, up 21.92% from ₹504.76 crore in 9M FY25
• EBITDA: ₹31.71 crore, up 41.06% from ₹22.48 crore
• Net Profit: ₹20.61 crore, up 74.96% from ₹11.78 crore

Bonus Issue Recommendation

The Board of Directors has recommended the issue of bonus shares in the ratio of 1:2, subject to approval by shareholders.

Management Commentary

Commenting on the performance, Mr. Srikanth Kodali, Managing Director, Kapston Services Ltd, said:

“We are delighted to report a strong set of growth numbers across both revenue and profitability. Our overall profit margins have improved by more than 100 basis points during the nine-month period, driven by increasing business from new geographies.

The company’s strategic expansion into new regions over the past two years is now delivering results through improved scale and cost efficiencies. Additionally, the increased cash flows generated during the current year will support further expansion into newer geographies.

Client additions during the quarter and over the last nine months have been strong, and we continue to onboard marquee clients across sectors.”

Kapston Services Ltd remains focused on sustainable growth, operational efficiency, and geographic expansion, strengthening its position as a leading manpower solutions provider in India.

The Westin Jaipur Kant Kalwar Resort & Spa Appoints Simita Chattoraj as Assistant Director of Human Resources

The Westin Jaipur Kant Kalwar Resort & Spa Appoints Simita Chattoraj as Assistant Director of Human Resources

Jaipur, Feb 09:  The Westin Jaipur Kant Kalwar Resort & Spa is pleased to announce the appointment of Ms. Simita Chattoraj as the new Assistant Director of Human Resources, further strengthening the resort’s leadership team.

Simita brings with her extensive experience in the luxury hospitality sector, having most recently served as Human Resources Manager at The Westin Resort & Spa Himalayas, Rishikesh. Known for her result-oriented approach, she has consistently demonstrated expertise in personnel management, recruitment, onboarding, and organizational development.

During her tenure at The Westin Resort & Spa Himalayas, Simita played a pivotal role in spearheading recruitment initiatives, streamlining onboarding processes for new associates, and successfully leading Project Pranita across the North India, Bhutan, and Nepal region. Her ability to align human resource strategies with business goals has contributed to building high-performing, engaged teams across multiple properties.

Simita’s professional journey includes hands-on HR operations experience with some of India’s most prestigious hospitality brands. She holds a Certificate Course in Recruitment Management from the Tata Institute of Social Sciences (TISS) and an MSc in Resource Management from SNDT Women’s University, equipping her with a strong academic foundation to complement her practical expertise.

Commenting on the appointment, Mr. Kamaljit Singh, General Manager, The Westin Jaipur Kant Kalwar Resort & Spa, said:

“We are thrilled to welcome Simita Chattoraj to our leadership team. Her extensive experience in fostering positive work environments and her strategic approach to talent development make her the perfect fit for our resort. We look forward to the energy and expertise she will bring to our HR department as we continue to elevate our guest and associate experiences.”

With this appointment, The Westin Jaipur Kant Kalwar Resort & Spa reaffirms its commitment to nurturing talent, building a strong workplace culture, and delivering exceptional experiences for both guests and associates.

Modis Navnirman Breaks Ground on ‘Rashmi Icon’ Residential Project in Malad

Modis Navnirman Limited Begins Construction with Bhoomi Poojan of 200+ Unit Residential Project ‘Rashmi Icon’ in Malad, Mumbai

Mumbai, India, Feb 9: Modis Navnirman Limited, one of Mumbai’s rapidly growing real estate developers, marked a key milestone with the successful Bhoomi Poojan ceremony of its upcoming residential and commercial project, Rashmi Icon, located at Shankar Gully, Orlem, Malad (West). This ceremony signifies the formal commencement of construction on what is set to become a modern lifestyle landmark in the neighbourhood.

Rashmi Icon is a thoughtfully planned mixed-use development located on a plot area of 4,744.40 sq. mtrs., featuring three residential wings with around 201 contemporary homes, 17 commercial shops, podium parking, and a dedicated amenities floor. The project is designed to offer a balanced blend of comfort and convenience, with modern lifestyle amenities, recreational spaces, and fitness facilities aimed at enhancing overall community living.

Speaking on the occasion, Mr. Mahek Modi, Whole-Time Director & Chief Financial Officer, Modis Navnirman Limited, said:

 “Rashmi Icon reflects our commitment to building future-ready urban communities. While the Bhoomi Poojan marks an important ceremonial beginning, our true focus lies in delivering well- designed homes, strong construction quality, and meaningful amenities that add long-term value to residents and the surrounding neighbourhood.”

Rashmi Icon strengthens Modis Navnirman Limited’s growing portfolio of residential developments in Mumbai and reinforces the company’s mission to create modern, community-focused spaces built with quality and integrity.

Bank of Baroda Lays Foundation Stone for New Office Building in Ernakulam 

Chandigarh, Feb 09: Bank of Baroda, India’s International Bank, marked a significant milestone in building a new infrastructure for the existing Ernakulam Zonal Office as Smt. Beena Vaheed, Executive Director, Bank of Baroda, laid the foundation stone for the bank’s new Office building at Canon Shed Road today. This initiative enhances the Bank’s physical infrastructure for its established zonal operations in Kerala, underscoring its commitment to improved operational efficiency across the state.

The foundation stone laying ceremony was attended by Shri Prajit Kumar D, General Manager and Zonal Head; Shri K. R. Kagadal, Deputy General Manager (Compliance & Assurance); Shri Anishkumar Kesavan, Deputy General Manager (Business Development); Shri Anmay Kumar Mishra, Deputy General Manager (ZIAD); and all Regional Heads of Ernakulam Zone, along with other senior officials of the Bank.

During her visit, Smt. Beena Vaheed engaged with Bank of Baroda employees at the Baroda Academy in Jos Junction, Ernakulam. She addressed them on the importance of capacity building, skill enhancement, and delivering customer-centric banking services. On this occasion, virtual inauguration of the new alternate premises of Chattanchal Branch was also held at the hands of Smt. Beena Vaheed.

She also addressed a customer meet with High Net-worth Individuals (HNIs) and major corporate clients from the Ernakulam Zone, reinforcing the Bank’s focus on nurturing enduring partnerships and fueling regional business expansion.

Speaking on the occasion, Smt. Beena Vaheed, Executive Director, Bank of Baroda said,

 “Kerala has always been a key market for Bank of Baroda, and the initiative of constructing its own new Office building represents our unwavering commitment to the state’s economic growth and development. The modern infrastructure will enable us to serve our customers more effectively and support the Zone’s aspirations for inclusive and sustainable progress.”

The new office building, expected to become operational within 21 months, will provide a modern and dedicated new workspace for the bank’s operations in the zone. Presently, the Zonal Office is situated at MG Road Metro Station, MG Road, Ernakulam.

Bank of Baroda has established a strong and growing presence in Kerala, with a total business of ₹46,475 crore, including deposits of ₹20,621 crore and advances of ₹25,854 crore as on 31.01.2026. The bank operates an extensive network of 248 branches, 07 Digital Service Outlets and 263 ATMs across the State and employs around 1,800 people, underlining its deep commitment to Kerala’s economic development and financial inclusion.

With this new infrastructure, Bank of Baroda reaffirms its commitment to fostering regional prosperity, bolstering existing operations, and driving sustainable growth across Kerala, thereby contributing to the state’s holistic development.

Audi India introduces ‘My Auras’: Revolutionising personalised drives with a multi-sensory experience

Chandigarh, Feb 09:  Audi, the German luxury carmaker, today unveiled My Auras, a first-of-its-kind in-vehicle experience that creates an unconventional journey of tranquility and grace by redefining luxury vehicle ownership for the customer. The My Auras app is a testament to Audi’s ‘Vorsprung durch Technik’ that blends intuitive technology with the emotional aspect of driving to create a special bond between the vehicle and the person behind the wheel with every single drive. The app offers a seamless luxury interface with integrated Apple Music and one-click controls for ambient lighting, climate control, aromatization, massage and ventilation.

Available across MyAudi Connect and integrated directly into Audi vehicles, My Auras elevates ownership from mere driving to a hyper-personalised lifestyle experience.

Mr. Balbir Singh Dhillon, Brand Director, Audi India, said,

“At Audi India, Vorsprung Durch Technik – is about creating unique experiences that adapt to our customers’ lives. In line with our customer-centric strategy, we are introducing the My Auras feature on the myAudi Connect app. The My Auras app is a perfect representation of this ethos. Today’s users expect experiences that adapt to them and the My Auras app delivers hyper-personalized moods, ensuring that every drive feels intentional, whether it’s calming, energizing, festive, or celebratory.”

Highlights:

One-click multi-sensory control: Instead of managing multiple settings individually, users can activate a complete atmosphere with a single click by adjusting the lighting, music, temperature, seat comfort, massage function and ventilation simultaneously.

Redefining stress-free driving: The app promotes mental well-being and relaxation, helping users unwind during daily commutes or long journeys. Features such as roadside assistance and vehicle service, all available within the same application, help reduce anxiety and enhance peace of mind.

Celebrating moments that matter: The My Auras app recognizes that driving is a part of one’s life’s moments. Festive themes can be customized to reflect cultural and seasonal celebrations. In addition, a birthday mode can automatically be activated on the user’s special day, creating a delightful, memorable experience.

My Auras’ feature sets scale intelligently across Audi India’s portfolio, including the Audi A4, Audi Q3, Audi Q3 Sportback, Audi Q5, Audi A6, Audi Q7, Audi Q8, Audi RS Q8 and Audi Q8 e-tron models. Customers can access the experience through MyAudi Connect on their iPhones or directly through their vehicle’s infotainment system. Designed exclusively for iOS users, with functionality supported on select iPhone models and iOS versions. Feature availability is applicable to Audi vehicles from MY24 onwards.

TVS Motor Company Appoints Madhu Srivastava as Group Head of Human Resources

Chandigarh, Feb 09: TVS Motor Company (TVSM) – a leading global automaker in the two and three-wheeler segment, today announced the appointment of Madhu Srivastava as President & Group Head – Human Resources. She will be based out of Bengaluru. Madhu is an accomplished HR leader with cross-industry experience spanning natural resources, oil and gas, financial services, telecom, and manufacturing.

Announcing the appointment, Sudarshan Venu, Chairman, TVS Motor Company said,

 “Madhu’s rich cross-industry experience will add significant value to the Group. The Group, which spans across mobility, financial services, and real estate, has been on a steady growth trajectory, expanding globally. We are confident that Madhu will build on the strong legacy of values, trust and excellence that TVS is known for, while helping take our people and organization agenda to the next level in an increasingly competitive and dynamic environment. We would also like to take this opportunity to thank R. Anandakrishnan who has devoted 38 years to TVS and has been instrumental in building the strong people foundations, values and HR systems.”

Professional Background & Leadership Experience:

Prior to joining TVSM, Madhu served as the Global CHRO of Vedanta Resources, a $25B multinational with a 100,000-strong workforce. She led enterprise-wide people strategy and major HR integrations, including the acquisition of Cairn India and other businesses. Madhu played a pivotal role in building leadership depth, strengthening organization capability, driving culture transformation and anchoring people strategy through periods of significant growth and change.

 Previously, she served as CHRO of Cairn Oil & Gas and Group Head of Talent Acquisition, Diversity & Inclusion, building global leadership pipelines and early-talent programs. Earlier roles at Citibank, Genpact, Reliance Infocom, GE Capital International Services, and Godrej equipped her with strong commercial acumen and scale hiring expertise.