Category Archives: Business

Baroda BNP Paribas Energy Opportunities Fund: A New Way to Invest in the Growing Energy Sector

Mumbai, January 21, 2025 – Baroda BNP Paribas Mutual Fund has launched the New Fund Offer (NFO) of its Baroda BNP Paribas Energy Opportunities Fund that will open for subscription from January 21, 2025 toFebruary 4, 2025. This scheme enables investors to benefit from the expanding energy sector, as India transitions from a developing to a developed economy.

It is said that “Energy is the key to prosperity”. History shows that countries’ energy demands increase as they transition from developing to developed economies. “As India’s GDP is projected to grow by 1.9x times in the next 5 years, India’s demand for energy is also poised to grow 1.7x times. Our Baroda BNP Paribas Energy Opportunities Fund is positioned to unlock profitable investment opportunities for investors from the developments in India’s Energy sector,” said Suresh Soni, CEO, Baroda BNP Paribas Asset Management India Pvt Ltd (AMC).

Riding India’s Energy Growth Wave

Between 2003 and 2023, Chinese energy consumption, per capita, surged from 1.5 megawatt hours (MWh) to 6.6 MWh#, reflecting strong growth tied to GDP expansion. Similarly, South Korea’s energy consumption has closely mirrored its per capita rise in GDP. India is now on a similar growth trajectory, with broad-based energy demand across households, agriculture, industry, commercial establishments, and infrastructure.

” Energy is a broad investment theme comprising almost a third of the stocks of the Nifty 500 index across a range of sectors and sub-sectors. Further, our research shows that not only does the Nifty Energy Total Return Index (Nifty Energy TRI) have a lower price-to-equity and price-to-book ratio compared to the Nifty 500 Total Return Index, but it also boasts higher dividend yield and faster earnings growth compared to the broader market,” said Sanjay Chawla, Chief Investment Officer – Equity and Fund Manager for the scheme.

Energy sources to meet the demand of the economy include coal, crude oil, gas, nuclear, solar, wind, hydro, geothermal, and hydrogen. The Baroda BNP Paribas Energy Opportunities Fund will allocate at least 80% of its assets to equity instruments of companies involved in exploration, production, distribution, transportation, and processing of traditional and new energy across market capitalizations.

Historically Proven Performance

Research by Baroda BNP Paribas AMC highlights that the Nifty Energy TRI has outperformed the Nifty 500 TRI over 3, 5, 7, and 10-year periods ending 31st December 2024&. This long-term outperformance underscores the potential of the energy theme to generate potential returns for investors across time horizons. “Our Baroda BNP Paribas Energy Opportunities Fund may be considered ideal for equity investors with a holding period of three years or more,” added Mr. Soni.

A Future-Ready Portfolio

The scheme will focus on investment opportunities across the traditional energy chain as well as new energy transitions. “Indian energy demand is a secular story that will be powered by the doubling of the size of India’s middle class, lifestyle changes driven by higher incomes, and energy transition. In addition, government’s focus on improving India’s energy security by more than doubling the share of natural gas to 15% of the energy mix by 2030 and boosting our coal security coupled with, the government’s plan to invite bids for 50 Gigawatt of renewable energy capacity annually between FY24-28 will see India’s solar power capacity grow 4X and wind power by 2.5X by 2031-32^. These structural changes aim to open a whole vista of profitable investment opportunities for investors,” added Mr. Chawla.

NSDC honoured as a Great Place to Work, fostering culture of Excellence

Chandigarh, January 21, 2025- National Skill Development Corporation (NSDC) has been recognized with the Great Place to Work® Certification for the second time in a row, affirming its commitment to fostering an exceptional workplace culture for its employees. Awarded in the Non-Profit and Charity category, this certification reflects NSDC’s continuous dedication to employee satisfaction and organizational excellence.

Ved Mani Tiwari, CEO of NSDC and Managing Director of NSDC International, stated, “This is a testament to NSDC’s core values of integrity, inclusion, innovation, and impact, which makes it an inspiration for every member of NSDC to excel. We are committed to nurturing an environment that promotes learning, innovation, and equitable opportunities for all.” He also mentioned that NSDC celebrates its identity as a diverse and inclusive community, emphasizing the importance of mutual trust and respect throughout the organization, which is essential for a productive and rewarding work environment.

The Great Place to Work® is a global leader in workplace culture, helping organizations create a consistently and overwhelmingly positive employee experience. In India, the Great Place to Work® collaborates with over 1400 organizations annually, spanning 22 diverse industries. According to its research, exemplary workplaces share attributes such as effective leadership, a consistently positive employee experience, and a commitment to sustainable financial performance.

NSDC has significantly contributed to India’s skilling ecosystem by facilitating the implementation of several successful upskilling initiatives and vocational institutions which have elevated the benchmarks of skilling in India. With more than 40,000 training centres across 750 districts, NSDC successfully placed 9.4 million candidates, trained over 40.19 million candidates, including 18 million women and 12.9 million individuals from urban and rural India. One of the NSDC’s most transformative initiatives has been the launch of the Skill India Digital Hub (SIDH) which provides a comprehensive platform integrating skilling, employment, and entrepreneurship opportunities.

This latest accolade reinforces NSDC’s position as a leader in skill development in the industry and workplace culture in India, paving the way for impactful changes at both grassroots levels and within the professional landscape.

Vedanta to Seek Final Shareholders’ & Creditors’ Approval for Demerger on Feb 18

Chandigarh, January 21, 2025: Vedanta Ltd. said in an exchange notification that it will conduct meetings of its equity shareholders and secured and unsecured creditors on February 18 to seek their approval on the proposed demerger.

The demerger aims to create five separate entities focused on aluminum, power, oil and gas, steel and ferrous, and certain existing businesses under Vedanta Ltd. As per Vedanta’s earlier exchange filing, the proposed demerger will simplify Vedanta’s corporate structure by creating sector-focused independent businesses, providing global investors, sovereign wealth funds, retail investors, and strategic investors, with direct investment opportunities in dedicated pure-play companies.

Vedanta said in September 2023 that the demerger would provide a platform for individual units to pursue strategic agendas more freely and better align with customers, investment cycles, and end markets. It will help unlock value and provide the potential for faster growth in each vertical. Each company will have its market, demand, and supply trends and the potential to deploy technology to raise productivity. At the same time, the new companies will remain committed to achieving net-zero carbon emissions by 2050 and net water positivity by 2030, the company said.

In November, the Mumbai Bench of the National Company Law Tribunal cleared the way for the meetings of Vedanta’s equity shareholders, and secured and unsecured creditors. Vedanta has already received a go-ahead/no objection from the stock exchanges.

Research firms and brokerage houses have expressed confidence in Vedanta’s demerger, seeing it as a chance of rerating. Emkay Research said in its December report on the mining sector that it believes that “Vedanta’s proposed demerger… focusing on the exposed commodity would open up a case for re-rating, as the investors would take exposure based on the outlook for that particular commodity and the business fundamentals without taking exposure to other commodities that come attached as part of the diversified group.” The brokerage sees a significant upside in Vedanta based on the expected valuation premium that pure plays get over diversified miners.

The share price of Vedanta Ltd. (VEDL) rose by 72% in the last year (2024).

Earlier this week, Vedanta Resources Limited (VRL), the parent company of Vedanta Ltd. raised $1.1bn through new bond issuances. It had garnered strong investor demand with the bonds receiving final orders of $3.4bn+ representing an oversubscription of 3.1x. VRL has refinanced $3.1bn in USD bonds since September 2024 through four successive international bond transactions.

These transactions have repriced Vedanta Resource’s curve and reflect strong demand from international bond investors, including numerous marquee investors. The total quantum of USD bonds raised by VRL marks the largest amount raised by an Indian issuer over the last three years. VRL’s credit ratings have also been upgraded by multiple notches since its return to capital markets in 2024, to reflect the company’s improving liquidity, capital structure and longer debt maturity profile.

The Bangalore Hospital and Lalbagh Flower Show 2025: A Partnership for Health and Nature

Bengaluru, January 21, 2025 – The Bangalore Hospital, a pioneer in healthcare and a legacy institution in Karnataka, proudly announces its association as the official Medical Partner for the prestigious Lalbagh Flower Show 2025. The event, a hallmark of Karnataka’s rich heritage, will be held from January 16th to January 26th at the Lalbagh Botanical Gardens, celebrating over a century of floral magnificence.

The Lalbagh Flower Show is an integral part of Karnataka’s cultural identity, captivating visitors with its vibrant displays for over 100 years. Similarly, The Bangalore Hospital, with its 35-year legacy, has been at the forefront of delivering exceptional healthcare services in South Bangalore. This collaboration celebrates two iconic institutions—one in nature’s artistry and the other in medical care—uniting to serve the people of Karnataka.

Founded as the first corporate hospital in South Bangalore, The Bangalore Hospital continues to be run by dedicated doctors and is a testament to the state’s pioneering spirit in healthcare. Over the years, the hospital has integrated advanced medical technologies to enhance patient outcomes, including the installation of India’s first 640-slice CT scanner, which delivers unmatched precision in diagnostics.

Dr. Lahari Surapaneni, CEO of The Bangalore Hospital, expressed her enthusiasm, stating, “The Lalbagh Flower Show represents Karnataka’s enduring legacy of beauty and innovation. At The Bangalore Hospitals, we share the same commitment to excellence, innovation, and service to the community. We are honored to contribute to this historic event by ensuring medical support for all visitors.”

Aditya’s Life in Danger: A Birthday Celebration Turns Into a Nightmare in Ishq Jabariya

When love, faith, and destiny collide, extraordinary tales are written. Sun Neo’s beloved show Ishq Jabariya takes a thrilling turn as Gulki, played by Siddhi Sharma, and Aditya, portrayed by the talented Lakshay Khurana, face a rollercoaster of emotions in their journey of love and resilience. Known for its gripping narrative and unforgettable moments, the show now serves up an episode filled with joy, hope, and unexpected heartbreak.

Gulki has faced countless hardships and dramatic twists in her journey. Finally, she feels that brighter days are ahead, and it’s time to celebrate. Aditya’s birthday brings the perfect opportunity to spread happiness and create joyful memories. But just as Gulki begins to hope for peace, an unexpected tragedy strikes.

Aditya gets bitten by a snake, leaving everyone in shock and despair. With Aditya’s life hanging by a thread, the celebration turns into a desperate race against time. Gulki is determined to save him, but will her courage and faith be enough?

Will Gulki succeed in protecting Aditya, or is this the tragic end of their story? And if Aditya’s fate takes a dark turn, how will this change the course of the tale?

Ishq Jabariya, airing on Sun Neo at 7:30 PM, is an engaging love story centred around Gulki, a determined young woman with big aspirations. The show boasts a stellar cast, including Kamya Panjabi, Siddhi Sharma, and Lakshay Khurana in key roles, bringing depth and emotion to this captivating narrative.

The Secret of The Shiledars – Trailer Announcement on Disney+ Hotstar

Mumbai – 21 January, 2025: Itihas ki ek anjaani aur adbhut kahani ab Disney+ Hotstar par dekhne ko milegi! The trailer for The Secret of the Shiledars is here, teasing an unforgettable journey into the unknown, where every clue uncovers something deeper, and every discovery leads to a new mystery. As Ravi (Rajeev Khandelwal) embarks on a quest to uncover hidden secrets and untangle his true identity, the path is far from straightforward. Streaming exclusively on Disney+ Hotstar from January 31, 2025, this captivating saga is one you won’t want to miss!

Produced by Nitin Vaidya under the banner of Dashami Creations LLP, with Aditya Sarpotdar as the showrunner and director, the series is based on the acclaimed Marathi novel Pratipashchandra[1] [2]. The Secret of the Shiledars stars Rajeev Khandelwal as the protagonist, leading the viewers on a quest for the hidden treasure, with Sai Tamhankar, Gaurav Amlani, and Ashish Vidyarthi in prominent roles.

[3] Showrunner & Director of the show Aditya Sarpotdar said, “Being a Maharashtrian, The Secret of the Shiledars is especially close to my heart. It’s my way of representing the courage and sacrifices of the Maratha Shiledars. The novel Pratipashchandra by Dr. Prakash Koyade has been a favorite of mine for a long and it’s been a pleasure to collaborate with Disney+ Hotstar and Dashami Creations to adapt this book and create this world on screen. It is a thrilling, adventurous journey that is set in the modern world but is steeped in history. It’s a treasure hunt that’ll keep you at the edge of your seats.”

Actor Rajeev Khandelwal said, “Playing a character like Ravi has been an incredible journey for me. It’s a contradiction of sorts that despite knowing what I was stepping into I actually had no idea what I was stepping into. From the moment we started shooting, I knew we may end up creating something magical under the skilled direction of Aditya. And we actually did. With The Secret of the Shiledars, he has ventured into an entirely new and intriguing genre, showcasing his brilliant creative vision. The show’s unique premise inspired me to push my limits as an actor, and working with Sai, Ashish sir and all other cast and crew members made the experience even more rewarding. I can’t wait for the world to see what we’ve made. Hope they enjoy this joyride as much as we did while creating it’’

Actress Sai Tamhankar said, “To be part of such an enriching show that challenges you at every step and shapes you as an artist is truly what an actor craves. With The Secret of the Shiledars, I’m glad to have put my best foot forward. Being from the heartland of Maharashtra, seeing it represented on-screen so authentically is immensely fulfilling. I believe this story will keep viewers hooked till the very end. Sharing screen time with stalwarts like Rajeev, with his incredible body of work, was truly inspiring. I am looking forward to what the audience has to say.”

Producer of the show, Nitin Vaidya said, “With The Secret of the Shiledars, we’ve brought together history, self-discovery and unexpected twists in an intriguing narrative that is set in the modern world. Disney+ Hotstar’s reach ensures that this story will touch a wide and diverse audience. We’re proud to share this labor of love and hope it sparks a deeper appreciation for the Shiledars’ legacy.”

Ola Enhances Maha Kumbh 2025 Experience with Digital and Green Mobility Partnership

Bengaluru, January 21, 2025: Ola announced its partnership with Maha Kumbh 2025 to reinforce its shared commitment to deliver cutting-edge digital and green mobility experience to millions of devotees attending the world’s largest congregation of people. By leveraging its comprehensive ecosystem — Artificial, Ola Electric and Ola Consumer, Ola aims to offer pilgrims a seamless, sustainable, and connected experience by integrating AI, green mobility, and enhanced options for travel during the Maha Kumbh Mela.

Bhavish Aggarwal, Founder, Ola, said: “Maha Kumbh 2025 is a reflection of India’s rich traditions and aspirations for a tech-driven future. We truly believe that the strategic intersection of AI, green mobility, and digital-first solutions will enhance the Maha Kumbh experience for millions of devotees. Our partnership with Maha Kumbh exemplifies how innovation and collaboration can enable efficient management of large gatherings with smart and sustainable solutions. We look forward to such partnerships going forward and remain committed to building India as the global leader in technologies of the future.”

Earlier last month, Artificial, India’s first AI unicorn, delivered cutting-edge hosted open-source LLM services for the Kumbh Sah’AI’yak app, the first-ever AI-powered chatbot for Maha Kumbh Mela. The platform offers navigation and cultural insights and creates personalised experiences for visitors. An initiative of the Government of Uttar Pradesh, Kumbh Sah’AI’yak has been developed by the Prayagraj Mela Authority and UPDESCO, in collaboration with Samagra as the anchor partner.

Additionally, Ola Electric has enabled deployment of 1,000 e-scooters to ensure ease of mobility for pilgrims. The e-scooters are aimed at facilitating a green mobility experience by offering devotees sustainable and cost-effective mobility solutions, making the sacred journey both environment-friendly and convenient.

Ola Consumer has deployed affordable transit services at airports, railway stations, and cab rentals, making travel seamless during the Maha Kumbh Mela. In addition to this, Ola has deployed EV shuttle services within Mela grounds, offering convenience and accessibility to visitors throughout the congregation.

The launch of Kumbh Sah’AI’yak marked a significant milestone in Artificial’s mission to boost India’s AI capabilities. The app supports Hindi, English, Tamil, Telugu, Marathi, Malayalam, Urdu, Gujarati, Punjabi, Kannada and Bengali, and offers a user-friendly interface with clickable options, voice commands, and media-enriched content.

Kumbh Sah’AI’yak app allows visitors to easily navigate the Mela area and offers guidance on topics like history, rituals, and significance of Maha Kumbh, travel and accommodation options, and key attractions around Prayagraj. With strong security measures to ensure privacy and prevent misinformation, the chatbot offers a seamless and enriching experience for all attendees.

Digital Health Breakthrough: Apollo and University of Leicester Partner to Set Up Precision Medicine Centre in Chittoor

Hyderabad, January 21, 2025: The Apollo University, Apollo Hospitals and University of Leicester, United Kingdom, have partnered to establish the Centre for Digital Health and Precision Medicine (CDHPM) at The Apollo University campus in Chittoor, Andhra Pradesh. The advanced research centre will bring together the expertise and resources of both institutions to create a global hub for digital health and precision medicine. The CDHPM Centre will be the hub in Chittoor, India. The hub at the University of Leicester will be based at the BHF Cardiovascular Research Centre at Glenfield Hospital, Leicester.

The Co-Directors of the centre will be Professor Sir Nilesh J Samani, Professor of Cardiology at the University of Leicester, and Dr Sujoy Kar, Adjunct Faculty, The Apollo University, Chief Medical Information Officer, Apollo Hospitals.

The CDHPM was inaugurated today by Dr. Prathap C. Reddy, Chancellor of the Apollo University and Founding Chairman, Apollo Hospitals in the presence of University of Leicester and The Apollo University’s Vice Chancellors. The Centre, which is fully functional today, will focus on revolutionising patient care by developing novel digital and personalised solutions using advanced analytical approaches to routinely collect healthcare data.

Commenting on the launch of CDHPM, Dr. Prathap C. Reddy, said, “At Apollo, we have always been pro-health, and the Centre for Digital Health and Precision Medicine (CDHPM) sits at the core of that belief. With the CDHPM, we aspire to transform healthcare delivery by bettering disease prediction, prevention, diagnosis, and management for acute and chronic conditions and are committed to profoundly impacting global healthcare. I am certain that such advancements will benefit patients globally and shape the future of personalised and data-driven medicine. I am happy to have launched the research centre in my birthplace in partnership with Leicester University.”

Dr.Vinod Bhat, Vice Chancellor of The Apollo University, discusses the partnership and its potential to drive transformative healthcare solutions forward. He says, “The launch of the Centre for Digital Health and Precision Medicine marks a monumental step forward in The Apollo University’s commitment to revolutionising healthcare through innovation and collaboration. By integrating cutting-edge medical research with advanced technology, the Centre aims to redefine patient care and create a global benchmark for precision medicine. This partnership with the University of Leicester strengthens our academic and research capabilities and paves the way for transformative healthcare solutions to create new academic benchmarks.”

Commenting on the launch of CDHPM, Professor Nishan Canagarajah, President and Vice Chancellor of the University of Leicester, said: “The establishment of the centre will allow Leicester and Apollo to build the healthcare of the future, which has the potential to transform lives not only in India and the UK but around the globe.

“Combining the world-leading expertise of both institutions means we can find new and novel ways to solve the biggest challenges in health. We have also taken the first steps to provide cutting-edge degree programmes designed to address the current and future shortages of expertise in healthcare services, both in the UK and India.”

The centre’s vision

The Centre’s unique strength is underpinned by the extensive understanding that the institutions have of the challenges faced by healthcare systems globally. By combining the expertise and resources of The Apollo University and the University of Leicester and leveraging the resources accessible to both sides securely, the Centre will direct its initial research efforts toward the following – although not exclusively – areas of shared strengths: cardiovascular diseases and care, acute and emergency medicine, and multi-morbidity—especially given the ageing population and the prevalence of individuals living with multiple conditions.

The Centre will serve as a critical research hub within The Apollo University’s ecosystem, advancing collaborative projects in Precision Medicine and Digital Health. This joint Centre aspires to further research excellence and make meaningful contributions to healthcare innovation and patient care.

Clinical Medicine research at the University of Leicester was ranked joint 2nd in the Times Higher Education (THE)’s analysis of the UK’s Research Excellence Framework (REF) 2021.

The Apollo University – University of Leicester programmes being launched

In addition, starting September 2025, The Apollo University will introduce three collaborative undergraduate programmes curated to fulfil the increasing demand for quality transnational education in domains such as Artificial intelligence, Electronics Electrical and Information Engineering, and Business Administration. As part of such programmes, students will complete the first two years of their studies at The Apollo University, India and subsequently progress to the University of Leicester, UK, for the final year of study of the programme.

Additionally, four healthcare-focused Masters programmes will be offered at the University of Leicester. These programmes will cater to the increasing demand for healthcare professionals with specialised competencies. Further speciality medicine programmes developed jointly by Apollo Hospitals, University of Leicester, NHS England and the BAPIO Training Academy (BTA) will offer students diverse pathways to train, specialise and practice in the UK.

The Apollo University – University of Leicester partnership so far

An overarching MoU was signed in June 2023 to strengthen links between India and the UK, establish a mutual desire to promote international cooperation and explore collaborative education and research programmes, particularly in healthcare and data science.

This Republic Day, Upgrade Your Viewing Experience with Amazon.in’s ‘TV Sale Parade

Bengaluru, 21st January 2025: Make your Republic Day celebrations bigger by bringing home a smart TV during Amazon.in’s TV Sale Parade, live until 26th January 2024. Enjoy up to 60% off on the latest smart TVs from leading brands like Acer, LG, Samsung, Sony, TCL, Vu, and more. Whether you’re watching the 76th Republic Day parade, streaming your favorite shows, or diving into immersive gaming, this sale offers incredible offers to enhance your viewing experience. Don’t miss out and shop now on Amazon.in and bring home the perfect TV at great prices.

• Acer 100 cm (40 inches) I Pro Series Full HD Smart LED Google TV: Experience the extraordinary depth and vivid colors with 40-inch smart LED TV, backed by 30W high-fidelity speakers, Google TV support, and a frameless design along with metal body.
•  Hisense 108 cm (43 inches) E6N Series 4K Ultra HD Smart LED Google TV: Unlock superior clarity and smart features with Hisense 108 cm E6N Series TV. It also comes embedded with 4K AI Upscaler, precision color and AI sports mode.
•  LG 108 cm (43 inches) 4K Ultra HD Smart LED TV: Enjoy the cinema like viewing experience with LG 4K Ultra HD Smart LED TV. It comes with vivid colors and remarkable details with 4K HDR10 Pro resolution. This TV also offers features such as AI Acoustic Tuning, α5 AI Processor 4K Gen6, Dynamic Tone Mapping, Apple Airplay and much more.
•  LG 139 cm (55 inches) 4K Ultra HD Smart LED TV: Experience vivid colors and remarkable details with LG 4K Ultra HD smart TV. It comes with smart features such as WebOS 23, quick card, AAA gaming and much more.
•  Samsung 108 cm (43 inches) D Series Crystal 4K Vivid Pro Ultra HD Smart LED TV: Experience 4K excellence with Samsung 108cm (43 inches) D Series Smart LED TV. This smart TV comes with features such as 4K Upscaling, PurColor, Q Symphony, Motion Xcelerator and much more. Additionally, it comes with a solar cell remote and multiple voice assistants for smarter control.
•  Samsung 138 cm (55 inches) D Series Crystal 4K Vivid Pro Ultra HD Smart LED TV: Watch your favorite content in 4K resolution with Samsung 138 cm (55 inches) D Series Crystal 4K TV. It comes with features such as 4K upscaling, Crystal Processor 4K, AI Energy mode and much more.
•  Sony 139 cm (55 inches) BRAVIA 2 4K Ultra HD Smart LED Google TV: Experience stunning visuals with 4K Ultra HD resolution, powered by the 4K Processor X1 and MotionFlow XR 100 for seamless clarity and vivid colors. Additionally, immerse yourself in rich audio with Dolby Audio and Open Baffle speakers, ideal for gaming, movies, and more along with smart features like Google TV, Chromecast, Apple AirPlay, easy access to Alexa and more.
•  Sony BRAVIA 2 Series 108 cm (43 inches) 4K Ultra HD Smart LED Google TV: Enjoy breathtaking 4K Ultra HD clarity with vibrant visuals, enhanced by the 4K Processor X1 and Live Color technology. Additionally, get easy access to seamless entertainment with Google TV, built-in Chromecast, and smart integrations like Alexa, Google Assistant, and Apple AirPlay.
•  TCL 139 cm (55 inches) Metallic Bezel-Less Series 4K Ultra HD Smart LED Google TV: Experience immersive entertainment with this 4K Ultra HD Google TV featuring a vibrant UHD LED panel for stunning visuals. It is designed with a metallic bezel-less frame, Dolby Audio sound, and multiple eye care technologies for a premium viewing experience.
•  Vu 139cm (55 inches) Vibe Series QLED 4K Google TV: With an integrated soundbar, this smart TV comes equipped with features such as Dolby audio, five sound modes, voice assistant remote and more.

IDBI Bank Limited – Q3 FY 25 Financial Results

Mumbai, January 20, 2025: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter and Nine monthEnded December 31, 2024.

•  Net profit at ₹1,908crore, YoY growth of 31%.
•  Operating Profitat ₹2,802crore, YoY growth of 20%.
•  NIM stood at 5.17%, YoY growth of 45 bps.
•  Cost of Deposit stood at 4.63%
•  Cost to Income ratio stood at 43.71%, down from 47.22% YoY.
•  CRAR stood at 21.98% with YoY growth of 166bps.
•  Return on Assets (ROA) stood at 1.99%, YoY growth of 29bps.
•  Return on Equity (ROE) stood at 20.13%, YoY growth of 56bps.
•  Net NPA down to0.18%,YoY reduction by16 bps.
•  Gross NPA down to3.57%, YoY reduction by 112 bps.
•  PCR stood at 99.47%, YoY improvement by 30 bps.

Operating Performance for Q3of FY 2025

•  Net Profit improved by 31% in Q3 of FY 2025to ₹1,908crore as against net profit of ₹1,458 crore in Q3 of FY 2024.
•  Operating profit improved by 20%inQ3 of FY 2025to ₹2,802as against₹2,327 crore inQ3 of FY 2024.
•  Net Interest Incomeimproved by23% in Q3 of FY 2025to₹4,228crore as against₹3,435 crore inQ3 of FY 2024.
•  Net Interest Margin (NIM)improved by 45 bps inQ3 of FY 2025to 5.17% as compared to 4.72% inQ3 of FY 2024.
•  Cost to Income ratiodownby 351 bps inQ3 of FY 2025to 43.71% as against 47.22%in Q3 of FY 2024.
•  Cost of Deposit stood at 4.63% inQ3 of FY 2025as compared to 4.34% inQ3 of FY 2024.
•  Cost of Fundsstood at 4.82% inQ3 of FY 2025as compared to 4.60% inQ3 of FY 2024.

Business Growth

•  Total Deposit increased to ₹2,82,439 crore as on December 31, 2024 as against ₹2,58,442 crore as on December 31, 2023 registering a growth of 9%
•  CASA increased to₹1,30,899crorefrom₹1,28,962crore on YoY basis, reporting a growth of 2%. CASA ratio stood at 46.35%.
•  Net advances grew by 18% YoY to ₹2,06,807crore as on December 31, 2024as against ₹1,75,001cras on December 31, 2023.
•  The composition ofcorporate v/s retail in gross advances portfolio was at29:71as on December 31, 2024as against 29:71as onDecember 31, 2023.

Asset Quality

• Gross NPA ratio improved to 3.57% as on December 31, 2024as against4.69% as on December 31, 2023.
•  Net NPA ratio improvedto0.18% as on December 31, 2024as against0.34% as onDecember 31, 2023.
•  Provision Coverage Ratio (including Technical Write-Offs)improved to 99.47% as on December 31, 2024from 99.17% as onDecember 31, 2023.

Capital Position

•  Tier 1 capital improved to19.91% as on December 31, 2024as against 18.04% as onDecember 31, 2023.
•  CRARimproved to21.98% as on December 31, 2024as against20.32% as on December 31, 2023.
•  Risk Weighted Assets (RWA) stood at ₹1,87,678crore as on December 31, 2024 as against ₹1,72,145 crore as onDecember 31, 2023.

Significant Developments

•  IDBI Bank was adjudged Runner Up in Best Digital Performance & Innovations and Best ESG Initiatives in the Large & Mid-Sized Bank segment at the ASSOCHAM 19th Annual Summit & Awards- Banking & Financial Lending Companies.
•  IDBI Bank inaugurated ten Business Correspondent managed Banking Outlets called IDBI SAMEEP offering basic banking products and thus enhancing the Bank’s footprint in a capital light model.
•  IDBI Bank launched a feature of booking flights through IDBI Go Mobile+ Application with attractive offers and deals.