Category Archives: Business

Marriott International Celebrates Milestone on Journey Towards Net-Zero

India, April 25th, 2024 – Marriott International, Inc. (Nasdaq: MAR) has verified its near and long-term science-based emissions reduction targets with the Science Based Targets initiative (SBTi). SBTi is a global climate action organization that develops tools that allow businesses to set greenhouse gas (GHG) emissions reduction targets in line with data-driven methodology. Marriott is the largest global hospitality company to receive approval for both near-term and long-term science-based targets.

The company has committed to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year. Marriott also commits to reduce absolute scope 3 GHG emissions from fuel and energy-related activities, waste generated in operations, employee commuting, and franchises 27.5% by 2030 from a 2019 base year, and that 22% of its suppliers by emissions covering purchased goods and services, capital goods, and upstream transportation and distribution will have science-based targets by 2028.

Marriott commits to reach net-zero greenhouse gas emissions across the value chain by 2050, reducing absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year and reduce absolute scope 3 GHG emissions 90% by 2050 from a 2019 base year. The target boundary includes land-related emissions and removals from bioenergy feedstocks.

“For nearly a century, Marriott has been committed to our core value of serving our world as we strive to be a force for good wherever we do business,” said Anthony Capuano, President and CEO, Marriott International. “The impact of climate change is being seen and felt across the globe. As we continue to connect people through the power of travel, we are committed to driving meaningful improvements to the environment and are energized by reaching this significant milestone. The approval of our near-term and long-term targets is the result of the hard work and dedication of Marriott’s teams around the world who are committed to our climate action journey and creating the future of sustainable hospitality.”

“Marriott has been on a journey to reduce greenhouse gas emissions in our operations and supply chain. We believe it’s good business and good for the planet,” said Erika Alexander, Chief Global Operations Officer, Marriott International. “The decarbonization of the global electrical grid is a vital component of reducing GHG emissions. We are united with other leading companies in elevating efforts to help address the effects of climate change and hold ourselves accountable as we embed sustainability throughout our operations.”

To reach its net-zero target, Marriott is focusing its efforts in three distinct areas: energy reduction, sourcing more energy from renewables, and purchasing goods with lower carbon footprints across its portfolio of over 8,800 properties in 139 countries and territories.

The company’s recent sustainability highlights include:

Launching the Climate Action Program (CAP), the company’s approach to charting a growth-focused future through building climate fluency, addressing climate risk, and reducing greenhouse gas emissions across the organization.
Delivering property-specific carbon and energy reduction targets to every managed and franchised hotel globally.
Enhancing the Marriott Environment Sustainability Hub (MESH), a global platform for properties to log monthly power, water and waste metrics. With these enhancements, properties can now easily access customized, property-specific information for reducing energy and carbon.
Introducing the Energy Optimization Program to help properties manage rising energy costs. The program assists properties in conducting an energy audit to identify ways to become more energy efficient.
Engaging with suppliers as they work to understand and reduce their emissions.
Sharing sustainability information, including individual hotel carbon footprint data, on Marriott.com.

Marriott’s sustainability strategy is focused on a wide range of tactics including designing resource-efficient hotels, implementing technologies to track and reduce energy and water consumption, as well as waste and food waste, increasing the use of renewable energy, managing water-related risks, focusing on third-party sustainability certifications at the hotel-level, supporting innovative ecosystem restoration initiatives, implementing and responsible and local sourcing. In support of the United Nations Sustainable Development Goals (SDGs), Marriott created its sustainability and social impact platform, Serve 360: Doing Good in Every Direction, which guides the company’s efforts to make a positive and sustainable impact on the world’s most pressing social, environmental, and economic issues wherever it does business. More details about Serve 360 can be found at Marriott.com/Serve360.

Equitas Small Finance Bank Limited

Chennai, April 25, 2024: The Board of Directors of Equitas Small Finance Bank Limited at its meeting held today, approved the audited financial results for quarter and full year ended March 31, 2024.

Highest PAT of Rs. 799 Cr in FY24 vs Rs. 574 Cr in FY23, growth of 39% YoY

Highest Quarterly PAT of Rs. 208 Cr in Q4FY24 vs Rs. 190 Cr in Q4FY23

Gross Advances as of Q4FY24 was at Rs. 34,337 Cr, growth of 23% YoY

Total Deposit as of Q4FY24 was Rs 36,129 Cr, growth of 43% YoY

GNPA down to 2.52% in Q4FY24 from 2.60% in Q4FY23

RoA and RoE for FY24 at 2.00% and 14.43% respectively

1. Key Highlights for Q4FY24:

Q4FY24 was a strong quarter across key performance indicators delivering sustainable loan and deposit growth and stable margins

· Yield on disbursements improved by 135 bps to 18.74% in Q4FY24 over previous year

· Robust TD growth of 68% YoY supported by 65% YoY growth in retail TD

· During Q4FY24, Bank has securitized/assigned advances worth Rs. 584 Cr pertaining Vehicle Finance and Housing Finance. Total securitized portfolio now stands at Rs. 1732 Crs​

· CD ratio improves to 86.98% in March’24 as compared to 103.40% in March’23

2. Business Highlights:

· Used Car Advances Crossed Rs. 1200 Crs during Q4FY24

· Merchant OD grew 213% YoY, from Rs. 317 Cr in Q4FY23 to Rs. 992 Cr in Q4FY24, crossed 35000 Customers.

· ASBA services pick up momentum, 20k+ Customers availed ASBA services as on Q4FY24, with 12,000 registrations recorded in FY24 alone.​

· “Banker on Wheels” – Introduced Equitas Express App during Feb’24, a customer interface app through Phygital mode for doorstep banking to Senior Citizens and Elite Customer segment​

· CASA ratio stood at 32%; Term Deposits grew 68% YoY to Rs. 24,577 Crs

· Retail Term Deposits grew 65% YoY to Rs. 14,670 Crs

Key Ratios:

· NIM is at 8.17% for Q4FY24

· Cost to Income stood at 62.83% in Q4FY24 as compared to 62.88% in Q3FY24 and 62.87% in Q4FY23.

· RoA and RoE for Q4FY24 at 1.91% and 14.22%

Capital:

· Networth of the Bank stands at Rs. 5,969 Crs

· As of Mar 31, 2024, Total CRAR at 21.70% | Tier I at 20.71% and Tier II at 0.99%

Treasury & Liquidity:

· The Bank’s issuer rating has been rated AA-/Stable by India Rating & CareEdge Ratings

· Liquidity Coverage Ratio (LCR) as on 31.03.2024 is 176%

· Profit on sale of Investments for the quarter is Rs. 25.64 Crs

3. Profit & Loss:

· Net Income, Opex and PAT grew by 22% , 26%, 39% for full year FY24 respectively

· PAT stood at Rs. 208 Crs for Q4FY24, growth of 9% YoY and around 3% QoQ

4. Asset Quality & Provisions:

· Annualized gross slippages stable at 3.87% for Q4FY24 as compared to 3.06% in Q4FY23

· GNPA improved by 8 bps YoY to 2.52% in Q4FY24 as compared to 2.60% in Q4FY23

· NNPA improved by 2 bps YoY to 1.12 % in Q4FY24 as compared to 1.14% in Q4FY23

· Provision Coverage ratio at 56.06%. Bank continues to follow stringent provision norms across product segments

Tata Passenger Electric Mobility signs an MOU with Vertelo to accelerate e-mobility in India

Bengaluru, 25th April 2024: Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., known for pioneering India’s electric vehicle (EV) revolution, has signed a non-binding Memorandum of Understanding with Vertelo, a Macquarie managed integrated fleet electrification platform, for the delivery of 2,000 XPRES-T EVs. This partnership aims to bolster the plans to accelerate India’s transition to sustainable e-mobility. The company will begin deliveries of the cars to Vertelo in a phased manner.

Speaking on the partnership, Mr. Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd. said, “As market leaders of passenger EVs in India, we are committed to the uptake of sustainable mobility in the country. We are delighted to partner with Vertelo in their effort to increase EV adoption in India. With over 89% market share in FY 24, the fleet segment has seen a rapid adoption by Corporates and Institutions. The XPRES-T EV has proven to be an attractive option for both customers and operators in the commercial fleet segment. Such collaborations in the industry will further help strengthen our market position amidst India’s EV revolution.”

Commenting on the partnership, Sandeep Gambhir, Chief Executive Officer, Vertelo stated that “We are really excited to partner with Tata Motors on this long-term strategic partnership to buy up to 2,000 electric cars. This partnership aims to bring together two business that are at the forefront of fleet electrification and decarbonisation in India. We hope that this partnership will help with accelerating the shift towards a more sustainable India by making bespoke leasing options available to fleet operators that help them onboard EVs in larger numbers.”

In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand. The new XPRES-T electric sedan comes with 2 range options – 315km and 277km (ARAI certified range under test conditions). It packs a high energy density battery of 26 kWh and 25.5 kWh and be charged from 0- 80% in 59 mins and 110 mins respectively, using fast charging or can also be normally charged from any 15 A plug point, which is easily available and convenient. It comes with zero tail-pipe emission, single speed automatic transmission, dual airbags, and ABS with EBD as standard across variants. The premium interiors with standard automatic climate control and Electric Blue accents across its interior and exterior will give it a differentiated presence from other Tata cars.

Vertelo is a new platform providing end-to-end solutions in fleet electrification in India. The company aims to accelerate the transition of fleets to electric vehicles and build a robust EV ecosystem by offering bespoke solutions to customers including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end of vehicle life management. The new platform has been established by Macquarie Asset Management and has received anchor investment from the Green Climate Fund which has committed to invest up to $US200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years with the aim to achieve a potential greenhouse gas emissions reduction.

Rapido partners with BBMP and Election Commission of India to revolutionize voter transport

Bengaluru, 25 April, 2024: In a resolute commitment to fortify the nation’s democratic fabric, Rapido, India’s foremost commute app, assumes a pivotal role in national duty with the launch of the “SawaariZimmedariKi” initiative. In collaboration with the Election Commission of India (ECI) and Bruhat Bengaluru Mahanagara Palike (BBMP), Rapido sets forth to champion civic engagement during the Indian General Elections 2024 by extending free auto and cab rides to differently abled and senior citizen voters in Bengaluru. As part of this historic endeavor, Rapido pledges to provide free rides to voters in Bengaluru on 26th April, 2024.

On election day, voters can avail free rides on the Rapido app using the code ‘VOTENOW’ and exercise their democratic right. The initiative aims to facilitate residents’ voting rights and ensure a more inclusive electoral process. This concerted effort aligns with Rapido’s nationwide campaign, deploying over 10 lakh captains across more than 100 cities to provide free rides on election-day. With the support of the ECI, Rapido will be offering free bike taxi rides to voters in Karnataka across the cities of Bengaluru, Mysuru, and Mangaluru on election day.

Rapido’s partnership with the ECI reflects its commitment to being a brand that drives positive change for a better society. Rapido’s Co-founder Pavan Guntupalli said, “We are undertaking this initiative to ensure that every voter in Bengaluru, Mysuru, and Mangaluru can successfully fulfill their civic duty by casting their votes in the Indian General Election 2024. We have deployed all available resources to us in order to ensure that voters in Bengaluru can participate in the electoral process. We want to specifically ensure that differently abled, and senior citizen voters have equitable access to exercise their democratic right. By extending free auto and cab rides to them, we are redoubling our commitment to inclusivity and social responsibility.”

He further added, “By offering these free rides, we are facilitating democracy in action. Our Rapido captains in Bengaluru are more than just drivers; they are ambassadors of civic engagement, enabling greater voter turnout and promoting a more representative electoral system in the world’s largest democracy.”

Rapido’s partnership with the Election Commission of India underscores its commitment to being a brand that drives change for a better society. Through initiatives like this, Rapido continues to demonstrate its dedication to making a meaningful difference in the lives of people across the country. This initiative emphasizes Rapido’s dedication to empower and encourage the voter population of Karnataka to exercise their democratic right by casting their vote.

Kulfi Collective expands Board with Divya Karani, as Chairperson

Mumbai, India – Kulfi Collective, a leading creative network in India that functions at the intersection of content, community and culture, has announced the appointment of Divya Karani as Chairperson and Executive Director of its Board. Divya’s three-decade journey has shaped her into a pivotal figure in steering some of the largest advertising and media groups across India, South Asia, the UK and Asia Pacific. Most recently, Divya was the CEO of Dentsu Media, South Asia, where she led the agency for over 12 years to become one of the dominant media agency networks in the region.

Kulfi Collective, through its three divisions, Supari Studios, Post Office & Keeda Media, has partnered with the world’s leading brands and platforms such as Spotify, Red Bull, Netflix, Lego, Flipkart and Zomato to deliver content, experiences & IPs that shape culture. The addition of Divya to the board brings strategic insights into the fusion of creativity, technology, and data that is at the core of Kulfi’s unique approach of bringing brands closer to consumers and culture through content, community and commerce.

Divya expressed her excitement about contributing to Kulfi’s vision, “I am honoured to join Kulfi Collective at such a transformative time. Together, we aim to redefine the creative network model, with an emphasis on agility, authenticity and purpose that resonates with a connected generation.”

“Divya joining the board will help us build the right governance frameworks as we scale globally. Further, her deep expertise will help us build upstream capabilities to bring brands closer to communities and subcultures in music, sports, gaming, entertainment and lifestyle.” said Advait Gupt, Co-Founder & CEO of Kulfi Collective.

Earlier this year, Kulfi was the first Indian member to join the prestigious Society of Digital Agencies, a network of the world’s most innovative and celebrated digital agencies. Divya’s appointment, coupled with Kulfi’s roster of award-winning work, further cements the collective’s position as a leading creative network in the country and select global markets in the coming years.

&TV’s Atal celebrates a milestone of 100 Episodes

It’s time for celebration for &TV’s Atal as the show completes its 100th episode milestone! Launched in December 2023, the show’s storyline is set against British colonial rule in India, offering insights into the formative years of former Indian Prime Minister Atal Bihari Vajpayee’s life. To mark this achievement, the stellar cast comprising Neha Joshi (Krishna Devi Vajpayee), Vyom Thakkar (Young Atal), Ashutosh Kulkarni (Krishan Bihari Vajpayee), Milind Dastane (Shyam Lal Vajpayee), PrachitteeAhhirrao (Vimla), among others, gathered to commemorate this joyous occasion and reflect on their remarkable journey through 100 episodes. Sharing her joy on the 100-episode completion, Neha Joshi, essaying Krishna Devi Vajpayee, says, “Completing the 100-episode mark is a big moment for us, and we are quite excited. First, thank our audience for this unwavering love and support for the show. And not to forget my co-stars and the dedicated crew behind the scenes, whose seamless coordination and hard work made it all possible. This journey has afforded me countless opportunities to delve into a spectrum of emotions as an actor, and reaching this milestone fills me with gratitude. The outpouring of affection from our audience is heartening and serves as a driving force for each of us. Recently, during our visit to Ram Mandir in Ayodhya to seek blessings for our show’s success and celebrate Ram Navami, we were humbled by the overwhelming love of our fans, who expressed their adoration for the show and its characters. We marked this celebration with our ‘Atal’ team on set, reflecting on the shared experiences that have shaped our journey together.” Vyom Thakkar, essaying Young Atal, says, “This is such a special moment for all of us! I am so happy that we have completed 100 episodes. It has been a wonderful journey, and we have become like an extended family. Congratulations to everyone for this incredible achievement!” Ashutosh Kulkarni, essaying Krishan Bihari Vajpayee, says, “My journey with Atal has been incredible. The warmth and appreciation from our audience towards my character bring me immense happiness. I consistently receive messages expressing their appreciation of our show and the characters. The collective effort of our dedicated team has made the show a success, and reaching the milestone of 100 episodes is a big moment for us. Heartiest Congratulations to everyone. We marked this special occasion with a joyful cake-cutting ceremony. Here’s to more such milestones to come!”

Watch Atal at 8:00 pm,airing every Monday to Friday only on &TV!

Tata Elxsi delivers 13 percent revenue growth in FY24; EBITDA margin at 29.5 percent

Mumbai, April 24, 2024: Tata Elxsi (BSE: 500408 | NSE: TATAELXSI), amongst the world’s leading providers of design led technology services, announced its fourth quarter results for the period ending 31^stMarch 2024.

Highlights of the Year Ended 31^stMarch2024

• Revenues from operations at Rs. 3,552.1 Cr, + 13.0% YoY
• EBITDA Margin at 29.5%, PBT margin at 28.5%
• Profit before Tax (PBT) grows 11.9% to Rs. 1048.7 Cr
• Software Development and Services (SDS) grew by 9.3% YoY, in constant currency.
• System Integration & Support (SIS) grew by 18.6% YoY, in constant currency.

Highlights of the Quarter Ended March 31, 2024:

• Revenues from operations at Rs. 905.9 Cr, – 0.9% QoQ, + 8.1% YoY
• Operating revenue growth -0.6% QoQ and +7.2% YoY on constant currency basis
• EBITDA Margin at 28.8%; PBT at 27.9%
• Profit Before Tax (PBT) at Rs. 262.4 Cr, +4.9% YoY

Industry Highlights for the Year Ended March 31, 2024:

• Transportation continues to grow strongly, registering a revenue growth of 24.6% YoY, supported by deal wins in Electric, Software Defined Vehicles and OEMs
• Healthcare delivered sustained growth of 10.8% YoY
• Media and Communications grew 0.2% YoY in a challenging business environment for this industry

Dividend related announcement:

The Board of Directors have recommended a final dividend of 700% (Rs. 70 per equity share of par value of Rs. 10 each) for the financial year ending 31^st March 2024, subject to approval by the shareholders of the company at the Annual General Meeting.

Mr. Manoj Raghavan, CEO and Managing Director, Tata Elxsi, commenting on the company’s performance in the financial year 2023-24, said:

“Financial year 2024has been a year of consistent operational performance with a revenue growth of 13% despite global macroeconomic uncertainties, and volatility in the media and communications industry over the last few quarters. We have done well to maintain industry leading EBITDA margin at 29.5% for the year, even while we continued to invest in expanding our talent base through all four quarters, with a net addition of 1535Elxsians through the year.

We had laid down a strategy of integrating our design business deeply with our key industry verticals, complementing our software and digital business with a design-led proposition. This is now complete, witha seamless end-to-end proposition from ideation to market introduction. This is enhancing our competitive differentiation, providing early visibility into customer product roadmaps, and creating larger downstream development deals. Starting with this quarter,  we are reporting this integrated view of design-digital in all three verticals, under the Software and Design Services segment (SDS).

During the financial year, our transportation business grew strongly at 24.6% YoY, and now accounts for 49.9% of our overall SDS revenues. OEMs now constitute over 56% of the transportation business, and we are now embedded into the SDV programs of 5 global OEMs. I am especially delighted with the SDV program with a global OEM we won this quarter, and the German Design Award 2024 for our work on automotive HMI, which demonstrates the world-class design-led proposition we offer to customers.

The Healthcare &Lifesciences business registered a growth of 10.8% YoY. We have established a strong foundation for continued growth, with the addition of 5 marquee customer logos in the year and expanded capabilities and platforms in new growth areas such as digital therapeutics and connected health. The Offshore Development Centrefor innovation and R&D we announced in March 2024forDräger Medical, the German headquartered leader in critical care and safety equipment, demonstrates the relevance of our technology and design expertise and deep domain capabilities for next-generation healthcare.

Our Media & Communications business grew 0.2% during the financial year. While this quarter saw a one-off impact of a deal ramp-down with a customer due to a merger, we have done well through the year to protect business, add marquee customers and increase wallet share with key customers. Even while the industry continues to experience significant reductions in discretionary spend and R&D budgets, we are placed well with our integrated design-digital offerings and investments in platforms for the future.

Our Systems Integration and Support (SIS) Business is pivoting to value-added services, innovation-led projects such as experience centres, and supporting downstream deployment and run management for our products and platforms. While Q4 revenues and growth was impacted by hardware shipment delays due to the Red Sea shipping crisis, it grew creditably by 19.0% in FY24, getting to a near 100 Crores business in this financial year.

We are transforming our customer base across industries, with a significant shift towards OEMs in the automotive industry,and operators in the media and telecom industry, while we continue to invest in deepening our key customer relationships. This is reflected in the strong growth in our Top 10 and Top 25 customers across the company.

We are continuing to invest ahead in building our talent pipeline, and are expanding our presence across locations in India and overseas. Our employee retention continues to be the best amongst our peers and industry at large.

Even as we step into the new financial year, we are pleased to announce two new members to the board. Mr. Soumitra Bhattacharya has had an illustrious corporate career especially in the automotive industrywith over 28 years with the Bosch group. He serves as Chairman of Bosch Limited, and is the Director for IFQM –  an industry-led initiative focused on Quality, Excellence, and Innovation.  Ms. AshuSuyash is a highly respected leader and served as MD and CEO of CRISIL, among leadership roles across many leading institutions. She has recently set up Colossa Ventures, an investment ecosystem for women entrepreneurs, and is an Independent Director on a few Boards including Hindustan Unilever. We look forward to leveraging the rich experience and network, industry knowledge and strategic inputs from our new directors.

I am pleased with our overall performance and resilience in revenues, margins, and customer additions through the year, in a volatile macroeconomic environment.

We are entering the new financial year with a commitment for growth, and the continued confidence in our differentiated design-led engineering capabilities. This is backed by strategic relationships we have built over years with key customers, the qualitative change in revenues towards OEMs and SDV programs, entries into new operators and marquee healthcare logos, investments in strategic technology areas and AI, and the strong deal pipeline we carry into the new financial year.”

Sunil Chemmankotil Appointed as Country Manager of Adecco India

Bengaluru, April 24th, 2024: Adecco, the world’s leading HR solutions company, is pleased to announce the appointment of Sunil Chemankotil as the new Country Manager of Adecco India.
With a career spanning over two decades of rich and diverse leadership experience in the staffing industry, Sunil brings a wealth of staffing industry experience and expertise to his new role. Sunil holds a degree as an electrical engineer and an MBA in HR and marketing.

Prior to joining Adecco India, Sunil served in various leadership capacities, including his most recent role as the CEO of the digital business at TeamLease. His tenure at TeamLease spanned nearly five years. Before he was working with TeamLease, he held significant roles at Quess Corp. Ltd., including leading the USA P&L for Brainhunter and spearheading global consulting and staffing as the business head for MFX Change Inc. Notably, Sunil’s journey in the staffing industry began at Adecco India, where he served for over seven years across diverse functions, with a focus on professional and IT staffing.

In a statement, Sapna Sood, President Adecco, APAC, said, “We are delighted to welcome Sunil Chemankotil back to the Adecco family as the new Country Manager of Adecco India. Given his extensive experience and demonstrated success in the staffing industry, we are confident that he will effectively lead our talented team in India to achieve success and growth. His leadership will further bolster our commitment to supporting our clients’ success and facilitating growth opportunities for our candidates and associates.

Sunil Chemmankotil, in response to his appointment, said, “I am excited to return to Adecco India in this new role. I look forward to collaborating with the team to spearhead innovation, deliver exceptional client service, and generate value for all stakeholders. Together, we will build upon Adecco India’s robust foundation, chart a course for sustainable growth, and continue implementing the country’s roadmap with success.”

Exploring the allure of Sion: A vibrant hub in central Mumbai

Article by Mr. Chintan Sheth, Chairman & Managing Director, Sheth Realty
In the world of Mumbai’s real estate, Sion stands out as a remarkable location, combining rich history with a vibrant modern atmosphere. Sion is a prime location in Central Mumbai, offering a perfect balance between peaceful residential living and vibrant commercial opportunities. The streets are lined with impressive skyscrapers, creating an atmosphere of progress and potential that appeals to both investors and homebuyers.

Sion has experienced consistent growth, thanks to its prime location and excellent connectivity. The surge in property values has created a lucrative opportunity for investors seeking promising returns on investment. In addition, Sion’s charm goes beyond its residential options, offering a wide range of commercial properties that present profitable opportunities for businesses looking to make their mark in Mumbai’s competitive market.

Nestled within Mumbai’s bustling landscape, Sion emerges as a prime destination for both commercial and residential real estate ventures, driven by three key factors. First and foremost, its excellent infrastructure and connectivity stand as pillars of its appeal. With a well-established railway, and roadway network, properties in proximity to these strategic points command higher valuations, facilitating swift access for commuters and businesses alike. As the city’s infrastructure continues to develop rapidly, Sion evolves into a burgeoning micro-market, enticing companies to relocate and residents to invest in its vibrant community.

A vibrant neighbourhood,Sion boasts a wide range of amenities to cater to the diverse needs of its residents. The prime location of this property, surrounded by bustling neighbourhoods such as Matunga, Dadar, and Chembur, guarantees that residents are always close to the bustling city life. There are plenty of shopping, dining, and entertainment options just a short distance away. In a city where every minute counts, connectivity reigns supreme, and Sion delivers on this front with aplomb. Sion offers convenient access to prominent central business districts such as Bandra-Kurla Complex and Nariman Point. The Sion-Panvel highway ensures seamless commuting to Navi Mumbai, while the recent inauguration of the BKC-Chunabhatti flyover has significantly improved transport in Sion, making it even more convenient for residents.

Fair real estate rates further bolster Sion’s allure, particularly within the suburban belt favoured by buyers seeking proximity to Mumbai’s financial hub. Properties near transportation hubs often fetch premium rates, reflecting the positive impact of transportation infrastructure on property values. Moreover, Sion and its surrounding micro-markets boast enhanced physical and social infrastructure, including hospitals, schools, and shopping malls, adding to their desirability. Education and healthcare form the bedrock of any thriving community, and Sion doesn’t disappoint on this front.

With numerous educational institutions and healthcare facilities dotting its landscape, families can rest assured knowing that quality education and healthcare services are within easy reach, ensuring the well-being and development of their loved ones.Beyond its urban facade, Sion harbours hidden gems for those seeking respite from the city’s hustle and bustle. The Sion Fort, nestled amidst verdant greenery, stands as a testament to the area’s rich historical legacy, offering a tranquil retreat for history enthusiasts and nature lovers alike.

In essence, Sion encapsulates the essence of Mumbai’s spirit – a harmonious blend of tradition and modernity, offering a tapestry of opportunities for residents and investors alike. Whether you seek the tranquillity of suburban living or the excitement of urban exploration, Sion welcomes you with open arms, promising a life of fulfilment and opportunity amidst the vibrant heartbeat of Mumbai.

Swiggy launches Smart Links to boost orders for restaurants with a digital presence

National, 24 April 2024 – Swiggy, India’s pioneering on-demand convenience platform, has announced the launch of ‘Smart Links’, an innovative tool, designed to empower restaurants of all sizes to enhance their online presence and drive growth.

Transforming Social Media Engagement into Business

The Indian F&B industry is vibrant and thriving but extremely competitive. The restaurant industry typically spends anywhere between 3% to 6% of its revenue on advertising, including online platforms like Meta (Instagram, Facebook, WhatsApp), Google, and traditional media such as TV, print, and radio.

While advertising on online platforms is a great channel to reach consumers, it is not always easy to track its impact on their business. Despite having a social media presence across various platforms, many restaurants struggle to translate engagement into actual business. To address this need, Swiggy has launched Smart Links- free, customized links that restaurants can share on their social media profiles on platforms like WhatsApp, Instagram, and Facebook to direct customers straight to their menu page on Swiggy.

This personalized approach enables restaurants to drive orders through their online presence while engaging with a broader audience. For customers on the other hand, it is a one-click experience to order from restaurants they have discovered online or on social media platforms.

The power of Smart Links also lies in the insights they offer into customer behavior. A key challenge for restaurants is assessing a customer’s actions after clicking on an ad, such as whether they have placed an order, what they have ordered, and when. Smart Links gives an insight into this, including whether the customer is a new user.

By enabling this tracking, Smart Links help restaurant partners assess the performance of their social media campaigns more effectively. This data allows them to optimize future campaigns, ultimately leading to more efficient and successful marketing strategies.

Smart Links has proven to be a powerful tool for gaining new users, with almost 60% of all Smart Links orders for a restaurant coming from new consumers. Since its inception, Smart Links has driven over 4 million menu sessions, covering 35,000 restaurant partners. Brands running Smart Links have seen ~25% of their menu sessions. In fact, during campaign days, brands using Smart Links have seen upwards of 80% of menu visits, leading to disproportionate gains in building brand visibility.

Krishanu Roy, 7th Heaven, Patna, Bihar, expressed her excitement on the new offering, “Swiggy has been an invaluable ally for us, consistently unveiling innovations that empower businesses like ours. Smart Links is a game-changer. We have been allocating a substantial budget to social media ads, but Smart Links has transformed that expenditure into tangible business outcomes. It’s a real value-add for restaurants like ours.”

Swiggy is committed to empowering small and upcoming restaurants, providing them with the tools they need to thrive in a competitive market. Smart Links are a key part of this support, offering these establishments a way to enhance their online presence and reach a wider audience. For these brands, Smart Links offer a way to build relevance and break through the clutter. On average, newly launched brands using Smart Links as a marketing tool have seen a 120% increase in menu visits compared to others. Additionally, they are twice as likely to receive a rating within the first 15 days of operation when using Smartlinks.

One such success story is La Milano, a Swiggy restaurant partner, which saw 13% Menu visits coming in via Smartlinks & a 10% jump in revenue on the campaign days after incorporating Smart Links on social channels as part of their marketing strategies.

Commenting on Smart Links, Deepak Maloo, AVP – Supply, Swiggy stated, “Social media is a great boon and an unmissable part of any business’ marketing strategy. But many restaurants, especially the smaller brands struggle to see the social media excitement translate to business without the right tools. Smart Links, which Swiggy is customizing for free for all restaurant partners, will be a game-changer by giving restaurants the power to easily access and customize these links. This allows them to measure individual channel performance and compare all in the owner app, thereby promoting themselves effectively, driving actual orders, and gaining a better understanding of their customers as well as spend on online platforms and social media”.

Restaurant partners can access Smart Links through the Swiggy Owner app to enhance their online presence and drive growth. Swiggy is redefining restaurant marketing with Smart Links, offering partners a tool to expand their reach, engage customers, and drive growth in the digital marketplace.

In addition, Swiggy is offering an interesting cashback offer for restaurant partners in April and May 2024. This offer presents a valuable opportunity for restaurants to increase customer orders through social media while enjoying savings on their orders.