Category Archives: Business

Signature Global aims 21.5 pc rise in sales bookings to Rs 12,500 cr in FY26 on strong demand

Realty firm Signature Global is targeting 21.5 per cent increase in its sales bookings to Rs 12,500 crore for the current fiscal as it plans to launch multiple housing projects to encash strong housing demand. According to an investor’s presentation, the Gurugram-based company has provided guidance for sales bookings or pre-sales at Rs 12,500 crore for the 2025-26 fiscal. “The company plans to grow sales at 20 per cent in FY26 over FY25 and aims to consistently maintain this growth over the long term,” Signature Global said. The company’s sales bookings rose 42 per cent to a record Rs 10,290 crore in the 2024-25 fiscal. Signature Global on Thursday reported a 48 per cent increase in its consolidated net profit to Rs 61.12 crore for the latest quarter ended March. Its net profit stood at Rs 41.25 crore in the year-ago period.

Total income declined to Rs 570.43 crore in the fourth quarter of the last fiscal from Rs 722.73 crore in the year-ago period. During the 2024-25 fiscal, Signature Global’s net profit jumped multifold to Rs 101.2 crore, from Rs 16.32 crore in the preceding year. Total income grew to Rs 2,637.99 crore in the last fiscal from Rs 1,324.55 crore in the 2023-24 financial year.

 Commenting on the company’s performance, Signature Global Chairman Pradeep Kumar Aggarwal said: “The fiscal year 2024-25 has proven to be exceptionally successful across all facets of our business operations, including pre-sales, revenue, collections, and profit after tax. We have exceeded the annual targets…”

He said the company’s strategic emphasis on premium and mid-income segments, coupled with its capacity to anticipate market trends, has facilitated significant growth.

 “As the residential real estate sector in the country remains robust, we are optimistic about achieving double-digit growth in the current financial year,” Aggarwal said.

Signature Global is one of the leading real estate developers in the country.

The company has developed many housing projects in Gurugram, with many more currently under construction.

The company has delivered 13.5 million sq ft of housing projects and has a strong pipeline of about 21.6 million sq ft of saleable area in upcoming projects, along with 46.38 million sq ft of ongoing projects, targeted for completion within the next 2-3 years.

South Indian Bank Posts Record Net Profit of 1303 Crore, Recommends 40 Percent Dividend

South Indian Bank declared net profit of Rs. 1302.88 Cr for the FY 24-25 registering a growth of 21.75% compared to Rs.1070.08 Cr in FY 23-24.

While declaring the results Mr. P R Seshadri, MD & CEO stated that, the Bank achieved its highest ever performance in the following areas:

• Highest ever business of Rs. 1,95,104.12 Cr in the history of the Bank
• Highest ever net profit of Rs. 1,302.88 Cr in the history of the Bank
• Highest ever operating profit of Rs. 2,270.08 Cr in the history of the Bank
• Highest ever other income of Rs. 1,813.43 Cr in the history of the Bank
• Highest ever net interest income of Rs. 3,485.64 Cr in the history of the Bank
• Highest ever Provision Coverage Ratio (including write off) of 85.03%
• Highest Return on Assets of 1.05% in the last 20 years
• Highest Return on Equity of 12.90% in the last 11 years
• Reduced Net NPA of less than 1%.

Key Highlights

• Operating profit of the year increased by 21.55% from Rs. 1,867.67 Cr in FY 24 to Rs. 2,270.08 Cr in FY 25
• GNPA is down by 130 bps from 4.50% to 3.20 % on Y-o-Y basis
• NNPA decreased by 54 bps from 1.46% to 0.92% on Y-o-Y basis
• PCR including write off increased by 593 bps from 79.10% to 85.03% Y-o-Y basis
• PCR excl. write off increased by 310 bps from 68.66% to 71.77% Y-o-Y basis
• The Board of Directors had recommended 40% dividend subject to approval of the Share Holders in AGM

Deposits

• Retail Deposit grew by Rs 7,007 Cr from Rs 97,743 Crore to Rs 1,04,749.60 Cr Y-o-Y showing an increase of 7.17% on Y-o-Y basis
• NRI Deposit grew by Rs 1,906 Cr from Rs 29,697 Cr to Rs 31,603 Cr Y-o-Y showing an increase of 6.42% on Y-o-Y basis
• Savings Bank grew by 4.06% Y-o-Y from Rs 26,618 Cr to Rs 27,699.31 Cr

Advances

• Gross advances grew by Rs 7,153 Cr from Rs. 80,426 Cr to Rs 87,578.52 Cr showing an increase of 8.89% on Y-o-Y basis
• Corporate Segment grew by Rs 4,114 Cr from Rs. 32,084 Cr to Rs. 36,198 Cr showing an increase of 12.82% on Y-o-Y basis, in well rated borrower accounts
• Share of A and above rated accounts in large corporate segments stood at 99.70%
• Gold Loan portfolio grew by Rs 1,469 Cr from Rs 15,513 Cr to Rs 16,982 Cr showing an increase of 9.47% on Y-o-Y basis
• Housing Loan grew by Rs. 2,794 Cr from Rs. 5,083 Cr to 7,877 Cr registering a growth of 54.97%
• Vehicle Loan grew by 24.32% Y-o-Y from Rs. 1,599 Cr to Rs. 1,987

Mr. P R Seshadri, MD & CEO of the Bank, stated that, “While announcing the financial results, I am pleased to share that our strategy continues to center around sustained profitability, superior asset quality, a resilient loan book, and a robust retail liability portfolio. We are sharpening our organizational structure and leveraging digital technology to effectively achieve our business objectives.

During the reporting period, the Bank witnessed consistent growth across all targeted segments, with a sharp focus on acquiring quality assets in verticals such as Corporate Lending, Auto Loans, Housing Loans, and Gold Loans.

Aligned with our strategic intent of ‘Profitability through Quality Credit Growth’, we have successfully on-boarded new advances with low-risk profiles, ensuring a well-balanced and healthy credit portfolio.”

The Bank’s financial results include the financial results of its wholly owned subsidiary SIBOSL

Major Awards and Accolades won by the Bank in FY25

South Indian Bank has once again secured five remarkable awards at the IBA Banking Technology Awards this year.

The awards include:

1. Best Tech Talent & Organisation (Winner)
2. Best Financial Inclusion (Runner up)
3. Best Digital Sales, Payments & Engagement (Special Mention)
4. Best IT Risk Management (Special Mention)
5. Best Fintech & DPI Adoption (Special Mention)

Securing these awards consistently underscores the Bank’s commitment to advancing in banking technology and highlights the digital prowess developed by South Indian Bank.

IntrCity, RailYatri Onboards Mashrise as Monetization Partner

Mumbai, 16^th May 2025 – Mashrise, the leading digital marketing solutions provider, is proud to announce its appointment as the official monetization partner for the Digital and Offline Monetization Mandate for RailYatri, a flagship brand of Stelling Technologies Pvt. Ltd., which also operates IntrCity SmartBus, one of India’s most advanced intercity bus networks.

Through this partnership, Mashrise will be responsible for building and executing end-to-end monetization strategies across IntrCity/RailYatri’s digital platforms and offline travel assets. This includes branded content, performance-driven advertising solutions, in-app integrations, transit media, and on-ground activations within the expansive RailYatri and IntrCity SmartBus network.

Mrityunjay Kumar, Co-Founder, Mashrise, shared, “We are excited to partner with IntrCity & RailYatri, who has been instrumental in modernizing the travel experience in India. With this mandate, our goal is to create innovative, high-impact monetization solutions that not only unlock new revenue channels but also enhance the commuter experience for millions of users across digital and physical platforms.”

Dinesh Rathi, Founding Member, RailYatri & IntrCity, states, “We take pride in deep integrating with brands and provide them custom crafted solutions that are both digital and on-ground—making the travel experience more exciting for customers. Our partnership with Mashrise, given their strong foothold in the fast evolving media and advertising world, will further elevate the Brand Solutions we offer. Together, we aim to boost brand impact and find fresh, engaging ways to connect with travelers—whether it’s through smart tech, frictionless commerce, or fun interactions during the journey. Our deep tech and data driven approach enables us to deliver campaigns at scale with the highest ROI”

With a strong presence across rail and intercity road travel, RailYatri has grown to become one of India’s most widely used travel platforms, offering real-time train and bus information, ticketing services, and personalized commuter experiences. Coupled with IntrCity SmartBus, a tech-enabled bus service with premium features like sanitized coaches, onboard washrooms, and AI-based fleet management, further strengthens the brand’s nationwide footprint.

This partnership represents a significant milestone for RailYatri as it plans to scale new heights in the Indian market, while Mashrise takes charge of crafting captivating campaigns for brands that resonate with modern consumers.

Swiggy Launches Student Rewards Across 200 Cities in India

National; May 16, 2025: Swiggy Limited India’s leading on-demand convenience platform, has officially launched its Students Rewards Program, a youth-focused initiative that offers never-before, exclusive discounts and benefits to lakhs of college students across campuses in the country.

The Students Reward Program is currently live in close to 2000 campuses across 200+ cities, from major cities like Delhi, Bengaluru, Pune, Mumbai, to smaller ones with growing student population like Dehradun, Rajkot, Sonipat and Patiala. The program is set to expand to 4500+ campuses nationwide by July 2025. To unlock the benefits, students need to verify their college email ID via the “Student Rewards” section in the accounts tab of their Swiggy app. Once verified, they will get access to a host of exclusive offers. Students whose colleges are not onboarded can write to swiggyforstudents@swiggy.in with their college specific email address.

 Whether it’s the tech colleges, state universities, private institutions, or media and design colleges, Swiggy is creating a rewards experience that is customized, high in impact and scale,  as well as deeply local and culturally tuned to student life. The program in its pilot phase is getting a lot of love in the form of a large number of sign-ups from colleges such as Kalinga Institute of Technology, Bhubaneshwar; Thapar University, Patiala;  IIT Bombay, BITS Pilani, Goa and many more.

Commenting on the launch, Deepak Maloo, Vice President, Swiggy Food Marketplace said, “The Students Rewards Program is Swiggy’s way of being a part of the lives of students, not just as a convenience platform, but as a trusted companion in their college journey. We understand that for a large number of youngsters living away from home, whether in big cities or smaller college towns, food is often their closest connection to comfort, routine, and home. Swiggy’s new offering is especially designed to cater to students and unlocks specially curated, exclusive perks and access to incredible offers instantly.”

“Whether students are ordering dinner after a long day of lectures, fuelling late-night study sessions, or planning a birthday celebration with friends, Swiggy makes it effortless and affordable. We understand that when you are far away from home, the little things like your favourite meal showing up at the right time, makes all the difference,” he added further.

Yashita Berry, a third year student of VIT mentions “As a student, it is so nice to get some extra discounts. The sign up process was simple and I have already used two of the offers to order my meals”

Built for students between 18 to 25 years of age, the program serves both hostel residents and day-boarders, those who live on campus as well as those who order in between classes or while commuting. The benefits can be availed even while students are at home or on their internships, in a city different from the campus location.

With college students increasingly relying on digital platforms for food, entertainment, and everyday convenience, Swiggy’s Students Rewards Program is designed in line with the needs, habits and pace of today’s youth.

Waaree Renewable Wins 114.22 Crore LOA Under MSKVY 2.0

New Delhi, May 16^th, 2025 – Waaree Renewable Technologies Limited (WRTL) is pleased to announce that it has received a Letter of Award (LOA) from a Renewable Energy Generation Company for the design, engineering, procurement, and construction of 94 MW AC Solar PV Plants across multiple locations under the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0. The total value of the project is ₹114.22 crore.

This award follows a competitive bidding process, detailed technical proposals, and subsequent negotiations, reflecting WRTL’s strong capabilities in delivering high-quality, scalable solar infrastructure. The Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0, led by the Government of Maharashtra, aims to empower farmers by providing daytime electricity through decentralized solar generation, thereby promoting agricultural productivity and rural energy independence.

India’s renewable energy sector is undergoing a transformative shift, with solar energy playing a central role. The country has already surpassed 97 GW of installed solar capacity as of 2024 and is targeting 280 GW by 2030. This growth is being driven by supportive government policies, falling technology costs, and increasing private sector participation.

“This Letter of Award is more than just a project win- it’s a reaffirmation of the trust our partners place in us,” said Sunil Rathi, Executive Director of Waaree Renewable Technologies Limited. He added, “At WRTL, we don’t just build solar plants- we deliver certainty, speed, and scale. Whether it’s a multi-megawatt utility project or a smaller distributed installation, we approach every assignment with the same precision, passion, and professionalism. Our ability to execute projects of any size with consistency and excellence is what sets us apart- and keeps our clients coming back. Through this project, we are proud to contribute meaningfully to the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0 by enabling clean, daytime electricity for farmers and supporting rural energy independence. This is how we power progress- one megawatt at a time.”

WRTL continues to enjoy the confidence of repeat customers across sectors, thanks to its superior execution capabilities, on-time project delivery, and deep technical expertise. As a globally recognized EPC player, WRTL brings a proven track record of delivering complex solar projects under diverse climatic and regulatory conditions. Its integrated approach- spanning design, procurement, construction, and commissioning- ensures high performance, cost efficiency, and long-term value for clients.

This project further strengthens WRTL’s position as a trusted partner in India’s solar ecosystem and underscores its commitment to delivering climate-resilient infrastructure that supports both environmental and socio-economic development.

Square Yards Posts Record FY25 Revenue of 1410 Crore, Targets 4 to 5 Times EBITDA Growth in FY26

Gurugram, Haryana, 16^th May 2025 – Square Yards, India’s largest integrated real estate and mortgage platform, has announced its financial results for FY25, reporting a stellar revenue of INR 1,410 crore (USD 170 million) and EBITDA of INR 46 crore (USD 6 million) on the back of INR 316 crore (~ USD 38 million) gross profit. With these results, the company remains operating cash flow positive and continues its impressive growth trajectory, boasting a 4-year revenue CAGR of 51%.

Key FY25 Highlights:

• Revenue Growth: Square Yards reported a revenue of approximately INR 1,410 crore (~USD 170 million), marking a year-over-year growth of around 40% from INR 1,001 crore in FY24. The company facilitated over 186,000 transactions and achieved a Gross Transaction Value (GTV) of INR 59,093 crore (USD 7+ billion) in FY25.
• Operational Excellence: The FY25 demonstrated the potential of operational leverage in the business, with gross profit margins reaching 23%, a contribution margin of 13%, and EBITDA at 3%. Additionally, Square Yards had positive operating cash flow in FY25.
• Continued Growth Projection: With a consistent four-year compound annual growth rate (CAGR) of 51%, Square Yards forecasts robust growth for FY26, targeting revenues of INR 2,000+ crore (USD 240+ million) and aiming for double-digit margins.

Tanuj Shori, Founder and CEO, Square Yards said  “We’ve built Square Yards as a well-diversified asset light platform to play India housing story. Today, we’re twice the size of the nearest Proptech player, three times larger than classified platforms, and seven times ahead of the closest brokerage. With over INR 1,400 crore in FY25 revenue, consistent double-digit EBITDA margins and a 51% CAGR over the last four years, we have established multi category leader with a unique combination of scale, economics and market leadership.  We forecast FY26 EBITDA to grow 4-5x while maintaining over 40% revenue growth. We’re targeting USD 240+ million in revenue and approximately USD 25 million in EBITDA. The operating leverage is clearly playing out, setting FY26 to be a landmark year for Square Yards.”

Q4 sees 32% YoY growth in revenue; showcases operating leverage

Q4 showed a glimpse of the operative leverage in the business with a strong margin profile across all levels. Both Gross Transaction Value (GTV) and Revenues for the quarter rose 32% YoY, while EBIDTA saw a 43% jump during the final quarter of the fiscal year. Annualized revenue (annualizing Q4) stands at ~INR 1,900 crore (~ USD 229 million) and historically Square Yards has consistently achieved its annualized Q4 numbers each year.

Fintech drives growth, PropTech leads in margins; India contribution ~80%

The real estate segment led profitability, delivering ~30% YoY revenue growth with 29% gross margins, aided by the company’s strong B2C positioning. The fintech vertical, which has scaled nearly 30 times over the past four years, continues to anchor growth. As the segment matures, improvement in margins is expected. Meanwhile, the digital products business maintained strong traction, supported by high gross margins of 47%, and is expected to continue delivering above-average growth. In terms of geographical split, India business contributed 83% of overall business while GCC countries contributed 11%.

Industry Leadership and Future Outlook

Square Yards, India’s largest well-diversified, asset-light platform in the housing ecosystem, continues to strengthen its position as a unique combination of scale, operating leverage, and category leadership. Backed by a full-stack, end-to-end solutions model, Square Yards’ integrated capabilities across the entire value chain provide significant value to both consumers and industry stakeholders. Its differentiated approach and robust business fundamentals are expected to drive accelerated and sustainable growth in the coming quarters.

Square Yards is coming on the back of a significant investment phase across the new businesses as well as capacity addition in core businesses. The company forecasts FY26 revenue to surpass USD 240+ million, with EBITDA expected to grow nearly five times to approximately USD 25 million. This outlook reflects continued momentum, with revenue growth projected to remain strong at upwards of 40%.

Barista Opens New Outlet at Spectrum Metro Noida

Noida; 16^th May 2025: Spectrum@Metro, one of Noida’s most vibrant retail and lifestyle hubs, welcomes the iconic coffeehouse chain Barista to its expanding family of premium offerings. Nestled on the ground floor of Phase 2, the new café promises to be more than just a coffee stop—it’s a space designed for moments, memories, and meaningful conversations.

Barista, known for its classic coffee blends and cosy ambience, aims to deliver a refined yet welcoming experience to coffee lovers, mall-goers, and professionals alike. With warm interiors and an inviting menu, the new outlet adds a contemporary edge to Spectrum@Metro’s mission of offering holistic, high-quality lifestyle experiences under one roof.

Speaking on the new addition, Ajendra Singh, Vice President, Sales and Marketing, Spectrum@Metro, said, “We are delighted to have Barista join our diverse mix of premium experiences at Spectrum@Metro. This café is not just a new hangout—it represents our continued commitment to creating engaging spaces for our visitors. From a mid-shopping coffee break to relaxed conversations over a hot brew, Barista adds that perfect pause to every visitor’s day.”

The new Barista café marks another step in the mall’s journey to curate meaningful spaces where community meets convenience. Shoppers can now pair their retail therapy with a signature brew—because great coffee moments are meant to be shared.

KAFF’s NYG 784G Built In Hob With Four Full Brass High Efficiency Burners

Some kitchen appliances are just functional. And then there are those that quietly uplift the entire cooking experience both in form and function. The NYG 784G Built-in Hob belongs to the latter category. It’s the kind of upgrade that doesn’t shout for attention but leaves a lasting impression every time you cook.

Crafted with 8mm thick premium matte grey tempered glass and beautifully rounded edges, it’s a piece that brings both elegance and strength to the countertop. The finish is subtle but stunning – frosted just enough to add depth, and designed to stay timeless even as trends change. This hob complements your kitchen instead of just sitting in it.

Now, let’s talk about firepower. The NYG 784G features four full brass high-efficiency burners, carefully arranged to suit everything from a quick chai boil to elaborate weekend meals. The configuration includes one big triple ring burner, a smaller triple ring for mid-size pans, and two dual ring burners that are perfect for multitasking. Whether you’re simmering a slow curry or searing vegetables on high heat, each flame responds with precision and consistency.

And it’s not only about the heat. It’s also about how safely that heat is delivered. The built-in full flame failure device is a feature you hope to never use, but it’s always there. If the flame ever goes out unexpectedly, gas supply is instantly cut off. It’s that quiet assurance you get while cooking with kids around or simply when life gets too busy. Handling the hob is effortless too. The metal knobs are designed with an ergonomic anti-slip grip that gives you complete control, even when your hands are wet or oily. You won’t find yourself second-guessing the flame intensity : just turn, feel the precision, and get cooking. Then there’s the pan support. Built with heavy-duty cast iron and featuring an integrated flame protector, it holds cookware of all shapes and weights with complete stability. From your smallest tadka pan to the heaviest pressure cooker – it’s got you covered. Beneath all that, a matte black drip tray ensures cleanup is just as easy as the cook itself.

Sized at 78 cm, this built-in hob slots seamlessly into any modern kitchen layout. But it ain’t merely about fitting in. Instead, it’s about standing out in the most understated way. The NYG 784G is for those who want their kitchen to be both beautiful and hardworking. And for those who believe that cooking, much like design, should feel effortless.

Savor the Season: Shangri-La Eros New Delhi Unveils Mango Indulgence at Mister Chai

New Delhi, 16 May 2025 Shangri-La Eros New Delhi unveils Mango Indulgence, an irresistible summer showcase at Mister Chai, the hotel’s elegant tea and street-style lounge, beginning 15th May 2025. This limited-edition experience evolves the season’s most beloved fruit into a symphony of indulgent delights, artfully crafted by Executive Chef Gagandeep Singh Sawhney and his culinary team.

Renowned for its contemporary finish on regional Indian flavours in a refined yet familiar setting, Mister Chai enriches the mango beyond nostalgia, serving it through an innovative collection of artisanal cakes, refined pastries, buttery viennoiserie, handcrafted confections, and vibrant beverages.

The journey commences with show-stopping cakes, perfect for gatherings and special moments. Highlights include the sun-kissed Mango Charlotte, the delicious Mango Chocolate Desire Cake, the tropical Mango Passion, and the delicately layered Mango Chiffon Cake. Heavenly variants such as the velvety Mango Burnt Cheesecake, the lush Mango Shortcake, and the classic Mango Baked Cheesecake promise decadence in every slice.

A curated array of pastries follows, each one a tribute to the mango in its most delightful forms. Guests can savour the silken Mango Temptation, the buttery Alphonso Mango Tart, and the airy Mango Mille-Feuille. The Mini Mango Gateaux, Coconut Mango, and Mango Éclair add playful charm, while the tropical Mango Trifle and house-made Mango Popsicle provide a refreshing tinge.

For those who prefer their opulence in smaller bites, the handcrafted bonbons offer a burst of flavour and artistry, featuring sophisticated pairings like Mango Basil and Mango Salted Caramel. Chocolate barks, ingrained with 70% single-origin chocolate, showcase layers of texture with dried mango, pistachio, crispy pearls, and tropical notes of mango passion. Macarons, intricately filled with Alphonso Mango and Mango Passion Caramel, pinnacle the sweet affair.

Mister Chai’s viennoiserie selection delivers flaky, golden perfection with tropical nuances. Guests can appreciate warm, buttery creations like the Mango Danish, Mango Cruffin, Mango Cinnamon Roll, and Mango Pain au Suisse. Signature bakes such as the Mango Escargot, Mango Crumble, Mango Coconut Crème Brûlée, and Mango Papilone present fine technique and irresistible flavour.

To complement the culinary spread, a refreshing beverage collection embodies the spirit of Indian summer with finesse. The Mango Indian Chaska is a fiery blend of ripe mango and bold Indian spices. Chilled jello-based coolers, including the Mango Mint Jello Cooler, Peach Mango Jello Iced Tea, and Passion Fruit Mango Jello Cooler, offer sparkling relief, while the Mango Spiced Pineapple Iced Tea and Tropical Blueberries Mango Cooler introduce unexpected yet harmonious notes. For a nourishing sip, the Mango Banana Smoothie pairs sun-ripened mango with creamy yoghurt.

Mango Indulgence at Mister Chai is more than a seasonal celebration – it’s a luxurious ode to India’s favourite fruit, presented with craft, care, and creativity in every detail.

Cathay Scales Up Travel with UiPath Enterprise AI and Automation

Mumbai, India — May 16, 2025 – UiPath, a leading enterprise automation and AI software company, announced that it is helping Cathay, the Hong Kong based premium travel lifestyle brand to drive positive changes and strengthen its position as a digital leader in customer experience, safety and operational efficiency, productivity, and compliance through AI-powered automation.

Cathay was named an UiPath AI25 Award Winner at UiPath FORWARD, UiPath flagship global AI and automation event in Las Vegas. The annual award program identifies the 25 most innovative UiPath customers using a combination of AI and automation as a strategic change enabler to accelerate bigger and bolder outcomes.

“We are honoured to be an AI25 Award Winner and are pleased to witness that our investment in AI and automation has turned into fruitful results,” said Aldric Chau, General Manager Digital, Cathay. “We continue to innovate through our close collaboration with UiPath to harness the full power of automation, AI and generative AI to ultimately deliver significant outcomes for our customers and to our internal operations. By leveraging AI and automation, we aim to maintain our digital leadership by prioritizing a strong customer-centric approach and continuously pursuing innovation.”

“AI-powered automation can help organizations streamline workflows and drive efficiencies, which has huge benefits such as enhanced customer and employee experiences, substantial cost savings, improved accuracy, and increased productivity to drive greater business value. It is particularly important for the aviation sector that needs to significantly scale up in order to satisfy the huge demand as travel resurges after the pandemic” said Richard Chen, Regional Vice President, Greater China at UiPath. “We are proud to enable the digital transformation journey at Cathay and look forward to working closely together to continue delivering the strongest outcomes for its employees and customers.”

Embracing AI-powered automation for efficiency and innovation

As part of its comprehensive digital transformation strategy, Cathay recognizes the power of AI and automation in realizing this vision. Cathay started adopting UiPath Platform back in 2018. Today, Cathay is a digital leader that employs UiPath automation solutions across more than 20 departments with over 160 bots to support employees’ day to day work. These solutions are essential for Cathay as they scale up during their rebuilding efforts following the challenging pandemic period. By leveraging tools such as UiPath Action Center, AI Center, and Document Understanding, Cathay is able to relieve employees of manual and repetitive tasks, allowing them to focus on more value-added activities. This not only enhances customer and employee satisfaction but also increases efficiency and drives significant operational improvements across its services.

Turning AI potential into tangible business outcomes

UiPath AI and automation is instrumental in helping Cathay address the challenges associated with the high-volume and high-intensity process across various business units.

By leveraging the capabilities of UiPath Document Understanding, Cathay trims document processing for repetitive and manual tasks, resulting in higher accuracy, faster processing times and increased process volume.

For example, Cathay is leveraging bots to automate its flight re-seat notification process for passengers. Today, with automation, the process is approximately 20 times faster than manual email notifications. It also enhances operational efficiency in back-office functions. Before automation, tax declaration preparation took employees around three weeks. With the introduction of automation, this timeframe cut down to just one to two days. Additionally, UiPath bolsters compliance through automated reporting for flight scheduling, which reduces human error and ensures adherence to regulatory requirements, saving Cathay 50% of the reporting time.

Cathay has also implemented its first Intelligent Document Processing (IDP) use case to handle invoices for the SAMEA region. Currently, over 72% of invoices are processed automatically, reducing processing time by four times. This advancement not only increases efficiency but also enables its team to focus on more strategic tasks, such as investing in vendor relationships and queries.

AI and automation are redefining what’s possible in business, and UiPath is playing a crucial role in positioning Cathay as a digital leader driving transformative change. Looking ahead, Cathay will continue to join forces with UiPath in exploring new opportunities in areas such as intelligent document processing and process mining. In doing so, it aims to empower its employees and advance the organization in a rapidly evolving digital landscape and achieve outcomes that were unimaginable before.