Category Archives: Business

Ninjacart’s New Startup Program Aims to Accelerate Growth of FoodTech and AgTech Ventures

India, December 9, 2024 – Ninjacart, India’s leading agri-tech startup transforming the agricultural ecosystem through technology and data, announced the launch of its Ninjacart Startup Program.This agri-tech-focused startup program aims to accelerate the growth of early-stage FoodTech and AgTech startups by providing access to cutting-edge technology, venture capital partners, financial backing, and expert business advisory.

With nearly a decade of experience in transforming agricultural ecosystems through technology and data, Ninjacart has partnered with agri-tech innovators globally to optimize supply chains and solve complex distribution challenges. The Ninjacart Startup Program leverages this expertise, network, and proven solutions to help startups scale faster, drive meaningful change, and lead the future of food distribution.

The Ninjacart Startup Program offers four key benefits to participants:

Access to Ninjacart’s Advanced Technology: Renowned for its comprehensive and innovative technology across the agri-tech ecosystem, Ninjacart’s proprietary solutions set an industry benchmark. Through the Startup Program, startups gain access to a focused suite of Ninjacart’s supply chain management tools to drive growth or enhance operational efficiency. Growth tools include demand forecasting, sales management, pricing intelligence, campaign management, and customer app modules. For operational efficiency, modules for procurement, inventory management, workforce management, logistics, and catalog management are available.

Pitch to VC Partners: Startups will have the chance to present to top VC partners such as Syngenta Group Ventures and Base Capital on Demo Day, scheduled for February 2025.

Financial Backing: Ninjacart offers credits up to $50,000 to offset platform and implementation fees during the first six months of participation.

Expert Business Advisory: Participants will gain access to Ninjacart’s domain expertise and leadership to build scalable supply chains for fresh produce, meat, and staples, offering tailored guidance to shorten their path to profitability.
The program is open to emerging startups that were founded in 2020 or later, have raised up to $1 million in funding, and operate outside India. Eligible startups must be post-revenue and focused on innovating the food supply chain.

“At Ninjacart, we’ve always believed in the transformative power of technology to solve critical supply chain inefficiencies,” said Kartheeswaran KK, Co-Founder and CEO, Ninjacart. “The Ninjacart Startup Program is designed to empower innovators who are driving systemic change in food systems. By offering our expertise, technology, and network, we aim to help startups accelerate their startup journey and propel the collective transformation of the global agriculture ecosystem.”

Isuzu Motors India Rolls Out ‘ISUZU I-Care Winter Camp’ Nationwide

Bengaluru 9th Dec 2024 : In a constant endeavour to reaffirm ISUZU’s commitment to provide best service and ownership experience, Isuzu Motors India will be conducting a nation-wide ‘ISUZU I-Care Winter Camp’ for its range of ISUZU D-MAX Pick-ups and SUVs. This service camp is aimed at offering customers exciting benefits and preventive maintenance checks for a hassle-free driving experience during the season across the country.

An initiative of ‘ISUZU Care’, the Winter camp will be organised across all ISUZU authorised dealer service outlets, between 09th – 14th December 2024 (both days inclusive). During this period, customers can also avail special offers & benefits for their vehicles.

Customers visiting the camp will receive the following: –

– Free 37-Point Comprehensive Check-up

– 10% discount on Labour

– 5% discount on Parts

– 5% discount on Lubes & Fluids

– 10% Discount on Retail RSA purchase

– Free ‘REGEN’

The Winter Camp will be organised at all authorised service facilities of ISUZU located in Ahmedabad, Baramulla, Bengaluru, Bhandup (Mumbai), Calicut, Chennai, Coimbatore, Dimapur, Durgapur, Gandhidham, Gorakhpur, Gurugram, Guwahati, Hisar, Hubballi, Hyderabad, Indore, Itanagar, Jaipur, Jaigaon, Jammu, Jalandhar, Jodhpur, Karnal, Kochi, Kolhapur, Kolkata, Kurnool, Lucknow, LB Nagar (Hyderabad), Leh, Madurai, Mandi, Mangalore, Mehsana, Mohali, Mumbai, Mysore, Nagpur, Nasik, New Delhi, Noida, Nellore, Patna, Pune, Raipur, Ratnagiri, Rajahmundry, Rajkot, Satara, Shivamogga, Siliguri, Solapur, Surat, Tirunelveli, Tirupati, Trichy, Trivandrum, Vadodara, Vijayawada and Visakhapatnam.

Signature Global Plans to Revive Stalled Noida Projects for Accelerated Growth

Realty firm Signature Global is looking for land in Noida and Greater Noida to expand the business and will explore taking over stalled housing projects as well provided there are no legacy litigations. Signature Global, which got listed in 2023, has a significant presence in the Gurugram market of Delhi-NCR.

Signature Global founder and Chairman Pradeep Aggarwal said “We plan to expand our operations in the Delhi-NCR region beyond Gurugram. We are actively exploring land parcels in Noida, Greater Noida, and the Yamuna Expressway. Additionally, the company intends to participate in land auctions conducted by development authorities in these areas to support its growth plans.”

That apart, Aggarwal said, “We are also looking to take over stalled housing projects in Noida. The Noida authority has come up with a co-development policy to revive stalled projects. A couple of projects have been approved under this new policy.” Aggarwal, however, said the company will take over stalled housing projects, provided the company does not become liable for legacy litigations.

While it will keep looking for land acquisition, Aggarwal said the company has enough land banks in Gurugram for future development.He said the company will launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years to tap strong consumer demand.

“Our target is to grow sales bookings by 25 per cent annually,” Aggarwal said.

He expressed confidence that the company would easily achieve the target of Rs 10,000 crore sales bookings in this fiscal.

Signature Global sold Rs 7,270 crore worth of properties during the last fiscal.

Aggarwal noted that housing demand continues to be strong in Gurugram.

“We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal. We have already achieved Rs 5,900 crore worth of sales bookings in the first half of this fiscal,” he said.

Considering the strong performance in the first six months, he said, “We are quite hopeful of over-achieving of our annual guidance.” Signature Global’s sale bookings jumped over three times to Rs 5,900 crore in the April-September period of the 2024-25 fiscal from Rs 1,860 crore in the corresponding period of the preceding year.

Last month, the company reported a consolidated net profit of Rs 4.15 crore for the quarter ended September.

The company had posted a net loss of Rs 19.92 crore in the year-ago period.

Total income rose to Rs 777.42 crore in the second quarter of this fiscal from Rs 121.16 crore in the corresponding period of the preceding year.

Signature Global has so far delivered 11 million square feet of housing area.

It has a pipeline of about 32.2 million square feet of saleable area in forthcoming projects along with 16.4 million square feet of ongoing projects.

Aggarwal said the company is targeting to deliver 16 million square feet area to its customers by March 2026.This will help the company to recognise around Rs 10,000 crore revenue in the books of accounts.

UAE Inaugurates Founders’ Retreat, Fostering Stronger UAE-India Start-Up Collaboration

Dubai and Abu Dhabi/ New Delhi, 9 December, 2024: The United Arab Emirates successfully hosted the inaugural Founders’ Retreat from 6 to 8 December 2024. The Retreat brought together more than 60 of India’s most prominent start-up founders and key UAE business leaders, investors, and policymakers to discuss new directions and opportunities in the bilateral investment partnership.

Co-organised by the UAE Embassy in Delhi, Offline, and the UAE-India CEPA Council, the event marked a significant milestone in the UAE-India partnership, showcasing the two countries’ shared commitment to fostering innovation and economic growth.

With participating retreat ventures averaging a valuation of USD 3.5 billion, alongside representation from founders of 13 Indian unicorn start-ups and five publicly listed companies, this first-of-its-kind platform facilitated transformative collaborations and highlighted the mutual benefits of closer investment ties between the two nations.

The retreat emphasised how the UAE complements India’s start-up success story. Estimates suggest that UAE investors have injected close to USD 20 billion worth of capital into the Indian economy since 2000, significantly benefiting the Indian start-up sector. Initiatives such as the UAE-India Start-up Bridge, established under the UAE-India Comprehensive Economic Partnership Agreement (CEPA), have only further strengthened this collaboration.

Commenting on the occasion, His Excellency Abdulnasser Alshaali, PhD, the UAE Ambassador to India, said, “The Founders’ Retreat is not just a celebration of entrepreneurial excellence but a commitment to deeper collaboration. It reflects our shared vision of fostering innovation, investment, and growth that transcends borders. Uniting UAE and Indian leaders under one roof not only enables business opportunities but also creates a blueprint for global entrepreneurial success.”

“The Founders Retreat is a catalyst for UAE-India start-up collaboration. By integrating India’s entrepreneurial talent with the UAE’s visionary support, we’re creating a launchpad for global start-up success. The Retreat is a powerful demonstration of how public-private partnerships can drive cross-border innovation and investment,” said Utsav Somani, the Founder of Offline.

The Founders’ Retreat reflected the UAE’s ongoing commitment to investing in India’s economy and providing Indian start-ups with opportunities to expand internationally. The UAE continues to expand its investment footprint in India, and is focusing on establishing new and innovative ventures, such as the Abu Dhabi Investment Authority’s fund in India’s GIFT City. This event reinforced the UAE-India relationship as a model for global entrepreneurship and innovation.

Kronos by Fastrack: A New Era of Stylish Chronographs with Unmatched Precision

Bengaluru, 7th December – Fastrack, India’s leading youth fashion brand, has introduced its latest chronograph collection, Kronos— a fusion of shaped case design and chronograph-functionality. Featuring four unique styles, this collection is designed for men who value both aesthetics and practicality.

 The chronograph feature measures elapsed time with an hour, minute & second sub-dial, making these watches ideal for men with dynamic, fast-paced lifestyles. Whether you’re timing a workout, a meeting, or a spontaneous adventure, Kronos ensures every second counts.

With the tagline “Quickies with Kronos: Make Every Tick Epic,” the campaign takes a playful approach to highlight the watch’s chronograph feature and the cool, versatile ways it can be used in.

Speaking at the launch, Danny Jacob, Head of Marketing at Fastrack, said, “Today’s youth aren’t just keeping track of time—they’re owning it. The Kronos collection is built for the ultimate go-getter, seamlessly balancing side hustles, passion projects, and a buzzing social life, all while rocking effortless style.”

NHC Foods Kicks Off Rights Issue Today for Investors

Mumbai, December 5, 2024: The Rights Issue for NHC Foods Limited, a leading merchant exporter of agricultural commodities and spices, is open now. The company aims to raise 14,742.00 lakhs to strengthen its working capital and repay secured working capital loans, thereby boosting profitability.

The promoters of NHC Foods aim to increase shareholder engagement and benefits through the Rights Issue, providing public shareholders a golden opportunity to enhance their involvement and equity stake in the company by subscribing to this Rights Issue.

Below are the kev details:
Closing Price as on December 3, 2024 : 1.3.21
Right issue price: 1.1 per Rights Equity Share
Rights Issue Size: 1.47,42,00,000
Record Date: November 26, 2024
Rights Issue Opening Date: December 5, 2024
Renunciation of Rights Entitlement Period: December 5, 2024 to December 12, 2024
Rights Issue Closing Date: December 18, 2024

 The Rights Equity Shares are being offered to Eligible Equity Shareholders on a rights basis in the ratio of 4 (Four) Rights Equity Shares for every 1 (One) fully paid-up Equity Share held. It offers an exciting opportunity for investors to subscribe to the offer within the specified period and enhance their stake in the company at a potentially attractive price.

“At NHC Foods, we have always been committed to creating value for our shareholders. This Rights Issue reflects our dedication to enhancing shareholder value while promoting a fair and equitable distribution of shares among public investors. By offering shares at a potentially attractive price, we aim to strengthen public shareholding and optimize the company’s capital structure. Our dedication to shareholders is further demonstrated by the Share Split carried out in July 2024, wherein NHC Foods executed a 10.-1 share split to boost liquidity and make its shares more accessible to a wider base of investors.” said Mr. Apoorva Shah, Chairman & Managing Director of NHC Foods Ltd.

“NHC Foods delivered outstanding performance in the quarters ending June 2024 and September 2024, achieving record-breaking sales and turnover, which h’ighlight its strong market position and adaptability in a dynamic business environment The company continues to make strateg ic investments in technology and process enhancements to drive growth and maintain its competitive edge”. added Mr. Apoorva Shah.

Quess General Staffing Achieves Major Milestone with 500K Workforce and Growing

Mumbai, 5th Dec 2024: Quess Corp, India’s leading business services provider, announces a significant milestone for its Workforce Management business- surpassing 500,000 workforce. This accomplishment, achieved within just three years of crossing the 250,000 mark, highlights the rapid growth and expanding role of Quess in shaping India’s workforce solutions landscape. It further strengthens Quess Corp’s position as India’s largest staffing company. It places India among the top four countries globally alongside the US, Japan, and the European Union to achieve this feat for a single staffing company.

The growth reflects Quess Workforce Management capability to deliver innovative, scalable workforce solutions across a range of industries, positioning it as a key enabler for businesses navigating evolving economic demands. The growth has been fueled by increasing demand across diverse sectors, including Industrial, FMCG, Retail, and BFSI (Banking, Financial Services, and Insurance). Recent trends also indicate that rural demand has significantly lifted the FMCG sector, which saw a 5.7% growth in the July-September period, as per NielsenIQ data. According to the National Statistical Organisation (NSO) survey, manufacturing employment creation accelerated significantly in FY23, supported by expanding core industries and increased demand in domestic and global markets, reflecting the sector’s critical role in India’s employment landscape.

Sectoral Highlights Behind 500K Headcount Milestone

Key sectors driving this milestone include:

· Industrial: The industrial segment recorded the highest growth rate, expanding by 256% to reach 80,000 associates with a CAGR of 53%, reflecting robust manufacturing and infrastructure activity

· FMCG: Showed remarkable growth of 243% to 60,000 with a CAGR of 51%, driven by increased consumer demand

● Retail: The workforce grew by 157% in three years to achieve 135,000 headcount registering an impressive CAGR of 37%

● BFSI: Continues to lead with 145,000 employees, marking a cumulative growth of 76% over three years

● Telecom and Others: These sectors maintained steady contributions, showcasing resilience amidst market fluctuations

Lohit Bhatia, President Workforce Management, Quess Corp, commented: “Reaching the 500,000 workforce milestone is a significant achievement that underscores our resilience and dedication to supporting India’s employment ecosystem. This milestone highlights our ability to adapt, scale, and address the evolving workforce needs of businesses across sectors. We remain committed to creating meaningful employment opportunities and contributing to India’s growing economic landscape.”

Driving Workforce Transformation

Quess’s Workforce Management has played a critical role in bridging the gap between talent supply and demand, especially in high-growth sectors and underserved regions. With this milestone, Quess Corp continues to set benchmarks in employment generation, reflecting its vision of empowering individuals, enhancing industries, and driving economic growth.

Suraj Estate Developers Secures Land Parcel at Mahim West for Rs. 101 Crores

Mumbai, 5th December 2024: Suraj Estate Developers, a leading real estate player focused on the South-Central Mumbai (SCM) market has announced the acquisition of a vacant parcel of land measuring approx.1,464 sq. Meters. The said plot of land upon development will have an estimated RERA Carpet area of 1.03 Lacs square feet. The new plot is located adjacent to an existing vacant land acquired earlier by the company, also for the development of a commercial building

The said two plots upon amalgamation will have combined plot area of approximately 3,000 square meters which is estimated to have sale RERA Carpet area of 2.10 lacs square feet with an estimated GDV of 1,000 Crores.

Situated in the heart of the city, the location offers brilliant connectivity with its close proximity to railway stations and upcoming metro line, along with upcoming new flyover connecting Senapati Bapat Marg to western express highway. Ensuring seamless commuting.

Commenting on this, Rahul Thomas, Executive Director, Suraj Estate Developers, said, “This acquisition fulfils the objectives of the funds raised through issue of equity shares and share warrants on preferential basis amounting to Rs.343 crore. Our operational performance in the last quarter has also been exceptional, marked by a 14% increase in sales volume and a 10% rise in sales realization. Looking to the growing demand for commercial spaces given the strategic location of the land, we are confident about the success of the project.”

In the last quarter, the company achieved an 88% surge in PAT, along with a 26% Y-O-Y growth in pre-sales for Q2FY25. Collections grew by 89% Y-O-Y in Q2FY25 and 46% Y-O-Y in H1FY25, driven by increased sales and collections from the commercial project CCIL.

GreenCell Mobility’s NueGo Becomes India’s First Premium Intercity Electric Coach Service to Operate in More than 100 Cities Across the Country

National, December 5, 2024: NueGo, the premium electric intercity mobility brand by GreenCell Mobility, has set a remarkable benchmark by emerging as India’s largest intercity travel network, now operating in over 100 cities. With an unwavering commitment to sustainability, innovation, and guest-centricity, NueGo continues to redefine intercity mobility, offering seamless and eco-friendly travel experiences. Expanding its network further, NueGo has launched 4 more new routes connecting, Indore-Ratlam, Gurugram-Chandigarh, Hyderabad-Kurnool, and Bangalore-Mysore. These additions enhance connectivity across North, Central, and South India, catering to the growing travel demand for guests in these routes.

 Devndra Chawla, CEO & MD of GreenCell Mobility, remarked on the milestone, “We are proud to lead India’s journey toward sustainable mobility. With connectivity in more than 100 cities, NueGo is setting new standards in intercity travel by combining environmental responsibility with unmatched guest experiences. Our expanded network reinforces our vision of enabling connectivity while supporting a cleaner, greener future.”

 NueGo’s fleet of 100% electric coaches delivers zero tailpipe emissions and is designed to offer safe, timely, and comfortable journeys. With the capability to cover over 250 kilometers on a single charge, each bus undergoes stringent safety inspections, ensuring reliability and peace of mind for passengers.

 Complementing its rapid expansion, NueGo successfully completed its groundbreaking Kashmir to Kanyakumari (E-K2K) record expedition—a first-of-its-kind journey showcasing the durability and performance of electric buses over diverse terrains. The campaign emphasized the potential of sustainable mobility solutions and reaffirmed NueGo’s leadership in transforming intercity travel in India.

 Since its inception in 2022, NueGo has transformed intercity travel with over 450 daily departures, advanced safety features, well-trained staff, and premium amenities, including airport-like lounges in select cities. As the brand continues to grow, it remains committed to pioneering sustainable, comfortable, and guest-centric travel across India.

Collaborative Push: Mahindra Finance and Magma HDI Expand Financial Services for Emerging India

Mumbai, December 4, 2024: Magma HDI General Insurance Company, a fast-growing company in India’s general insurance sector has entered into a corporate agency agreement with Mahindra Finance, one of the country’s leading NBFCs. Under this agreement, Magma HDI will provide tailor-made insurance solutions to Mahindra Finance customers with a bouquet of general insurance products within the motor and non-motor segments.

The signing ceremony was attended by Raul Rebello, Managing Director & CEO of Mahindra Finance, and Rajive Kumaraswami, Managing Director and CEO of Magma HDI General Insurance in the presence of other senior officials.

Mr. Raul Rebello, Managing Director & CEO, Mahindra Finance, said, “We are glad to collaborate with Magma HDI General Insurance to offer tailored general insurance coverage to our customers. This strategic collaboration will provide reach of the ever-growing insurance sector while delivering on our commitment of being a responsible financial solution partner to emerging India”.

Mr. Rajive Kumaraswami, MD & CEO of Magma HDI General Insurance further elaborated, “Our partnership with Mahindra Finance marks a significant step in uniting the ecosystem to advance the insurance industry’s vision of ‘Insurance for All by 2047.’ By offering tailored insurance solutions, we are committed to enhancing our customers’ financial security and ensuring the peace of mind they need to navigate life’s uncertainties.”

By leveraging the strengths of Mahindra Finance’s extensive reach & Magma HDI’s expertise in insurance, the collaboration seeks to enhance customer experience and financial security across India.