21, Mar 2024
HCLTech achieves the AWS Generative AI Competency
NEW YORK, US and NOIDA, India, March 21, 2024—HCLTech, a leading global technology company, has been recognized with the Amazon Web Services (AWS) Generative AI Competency Partner status for its expertise in building generative AI (GenAI) applications on AWS and delivering transformative outcomes to enterprises.
With AWS’s advanced GenAI portfolio — including Amazon CodeWhisperer, Amazon Bedrock, Amazon SageMaker and Amazon Q — HCLTech has developed innovative GenAI solutions spanning various industries and enterprise functions, emphasizing responsible and ethical AI practices, such as prioritizing privacy, protecting intellectual property rights and maintaining factual accuracy.
“Attaining the AWS Generative AI Competency is a significant milestone for us, but more importantly, it is a win for our clients. It solidifies our market standing and leadership and assures our clients of our proficiency in developing and implementing real-world generative AI solutions using AWS services. This means we can meet their needs with unparalleled precision and effectiveness, ensuring their success in an ever-evolving landscape,” said Prabhakar Appana, Senior Vice President and Head of AWS Business Unit, HCLTech.
The AWS Competency Program assists clients in connecting with AWS partners who possess extensive knowledge and technical expertise in using AWS technologies and best practices to adopt generative AI.
Till date, HCLTech has received AWS Competency status in networking, migration, financial services, cloud operations, automotive services, manufacturing and industrial services, SAP, DevOps, Level 1 MSSP, storage and mainframe modernization.
HCLTech offers a unique set of end-to-end AI capabilities from chip development to business process optimization. Leveraging strategic partnerships with AWS and many others, HCLTech is paving the way for the adoption of GenAI across industries.
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- By Rabindra
1, Mar 2024
What The “Privacy Policy” That Nobody Reads Says About Your Data
“Today’s online ecosystem thrives on data,” says Vernon Southward, CEO of Kosmos. “Understanding what information companies collect, how they use it, and your control over it is crucial in this digital age.” Yet, a Deloitte survey found that most people, around 90%, agree to legal terms without reading them. When they have no choice, users are okay with accepting possible outcomes in return for using a service. This begs the question: what does the “privacy policy” nobody reads say about your data?
Dissecting the Data Landscape
Privacy policies are legally binding documents outlining how companies collect, utilize, and share your personal information. Pinsent Masons notes that although legally necessary, privacy policies are often too long and complicated, with an average of 2,500 words, which is like reading ten pages of closely packed text. This makes them hard for regular users to understand, limiting their grasp of what data is collected and what it might mean. Additionally, Science News reports that website privacy policies are vague about how they share your data, with web traffic analysis indicating that most information is shared with unnamed partners.
What Lies Beneath the Legalese
Despite the challenges, delving into your typical privacy policy reveals several key points:
Data Collected: Companies gather a vast array of information depending on the platform and service. This can range from basic details like name, email, and location to browsing history, search queries, and device information. In the case of social media platforms, data collected may even include details from your connections and online interactions.
Data Usage: The purpose of data collection varies widely. Companies typically use it for personalization (tailoring content and ads), performance improvement (enhancing the user experience), and analytics (understanding user behavior). However, data may also be used for targeted advertising, selling anonymized data sets, or even for law enforcement purposes, subject to legal requirements.
Data Sharing: Privacy policies often disclose your data may be shared with third-party service providers, who assist the company in various functions. Additionally, data may be shared in the event of a merger, acquisition, or legal obligation.
Take Control of Your Rights and Options
While navigating privacy policies can be daunting, it’s important to understand that you do have some control over your data:
Reviewing Privacy Settings: Platforms offer options to adjust data privacy settings. These allow you to restrict data collection, limit ad targeting, and control how information is shared.
Utilizing Data Deletion Tools: Many companies offer avenues for users to request data deletion. While not guaranteed in all situations, these tools empower you to manage your personal information footprint to some degree.
Employing Privacy-Enhancing Technologies: Utilizing tools like ad-blockers and virtual private networks (VPNs) can further enhance online privacy by blocking unwanted tracking and masking your IP address.
“Empowering yourself with digital literacy about data collection and management is key in the digital age,” reiterates Vernon Southward. While privacy policies may not be the most riveting read, understanding their contents empowers you to make informed decisions about your data and navigate the online world with greater control and awareness.
22, Feb 2024
Marut Drones and PJTSAU’s Revolutionary Direct Seeding Device Receives World’s First Utility Patent
February 22, 2024 – Hyderabad, India: Marut Drones, India’s leading drone manufacturer, has been granted the world’s first utility patent for a term of 20 years starting from November 29, 2021, under the provisions of the Patents Act, 1970. This patent recognizes Marut’s direct seeding drone, developed in collaboration with Prof. Jayashankar Telangana State Agriculture University (PJTSAU), which incorporates a multi-nozzle aerial seed dispensing device. With this patent, Marut Drones endeavors to facilitate the widespread adoption of direct seeding drones for rice cultivation at the grassroots level.
Marut’s seeding drones have obtained the patent following scientific validation by PJTSAU, which has also released Standard Operating Procedures (SOPs) for their use. This validation underscores the reliability and efficacy of the technology in enhancing rice production.
The patented system enables the aerial dispersion of diverse rice seeds through a meticulously designed multi-nozzle mechanism, optimizing the efficiency and effectiveness of seed-sowing processes. Marut has adhered to standard operating procedures for seeding, ensuring precise parameters such as drone speed, swath width, nozzle type and pressure, spray volume, spraying altitude, and droplet size in Direct Seeded Rice (DSR) using drones.
Prem Kumar Vislawath, CEO and Founder of Marut Drones, emphasized, “This patented technology will revolutionize rice farming practices in India. By reducing on-farm manual labor through drone technology, we aim to address the persistent challenges faced by farmers, particularly labor shortages due to rapid urbanization. From seeding paddy to controlling mosquitoes and pests in rice fields, labor costs pose significant hurdles. Through our collaboration with PJTSAU, we seek to promote the widespread adoption of Direct Seeded Rice (DSR) through drones, fostering a more economically viable and sustainable rice cultivation ecosystem.”
Marut’s direct seeding drone is a multi-utility attachment, enabling farmers to utilize drones not only for pesticide application/spraying but also for direct seeding, thereby accelerating Return on Investment (ROI). This multi-functionality allows the drone to be utilized around the year, justifying its name AG365.
By leveraging Marut Drones’ innovative DSR drones, farmers can achieve a remarkable 92% reduction in water usage, significantly accelerating ROI and profitability timelines from 3 years to just 1.5 years. The DSR drones are highly feasible under delayed monsoons, late release of canal water, or other contingency situations, addressing major challenges faced by rice farmers.
Traditional obstacles such as nursery time, transplantation, and skilled labor shortages are effectively mitigated, empowering farmers with enhanced operational efficiency and flexibility. With Marut’s DSR drones, farmers can sow up to 30 acres in a single day, requiring only 33,333 man-days to cover 500,000 acres compared to the 50 lakh man-days required for manual transplanting. Moreover, this technology minimizes operational exposure to harmful pesticides during pest outbreaks.
Through extensive trials conducted across 5 states, Marut Drones is poised to revolutionize rice farming practices nationwide. As India grapples with the impending dip of 2 million tons in rice production, creating disruptions in the global rice market, Marut Drones aims to seed 1 million hectares of land by 2030.
By fortifying food security efforts with its patented technology, Marut emerges as a frontrunner in innovation. The company’s comprehensive training programs targeting farmers, rural youth, students, and agricultural stakeholders will promote the adoption of direct seeding in rice cultivation using drone technology.
Marut’s patented technology not only opens avenues for rural employment but also encourages the establishment of Community Health Centers (CHCs) facilitated by Farmer Producer Organizations (FPOs) and Women’s Self-Help Groups.
22, Feb 2024
Built to handle the complexities of today’s music production
India, 22 January 2024 – Sennheiser, the first choice for advanced audio technology that makes collaboration and learning easier, today launched its brand-new open-back HD 490 PRO reference studio headphones, purpose-built for producing, mixing and mastering. The circumaural, dynamic headphones feature highly precise sound reproduction and a very wide and realistic sound stage. This superior accuracy and range give producers, mixing and mastering engineers, as well as musicians, the transparency they need for critical mixing decisions and for confidently resolving any panning placement issues.
“If you compare today’s music productions with that of ten, 20 years ago, you will notice how the massively increased computing power and complex parameter automation have changed the way in which music is made,” shares Vipin Pungalia, Country Manager & Director- Sales Pro Audio at Sennheiser. “In every genre, engineers and music creators are continuously pushing boundaries, creating extremely complex mixes that can be prone to so-called ‘audio blind spots’. Mixes can be crowded and muddy, with too many instruments sitting at the same position and their frequencies competing. For the engineer or musician, it becomes difficult to hear each individual instrument or voice distinctly. This goes to show the importance of a good pair of studio headphones.”
Full-spectrum audio accuracy
To tackle this complexity, the Sennheiser engineers have given the HD 490 PRO an extremely wide, dimensional sound stage for precisely localising the components of a mix. Ultralight voice coils ensure a fast and authentic sound reproduction. The frequency response is uncoloured and honest across the entire audio spectrum, with the low end being full, accurate, and clearly defined thanks to a special low-frequency cylinder. The open-mesh ear cup covers reveal Sennheiser’s Open-frame Architecture, which minimises resonances and distortion. For an optimal listening experience, the transducers sit at a slight angle, thereby emulating a typical monitor loudspeaker set-up.
The HD 490 PRO studio headphones deliver a wide, spatial sound stage with excellent localisation, enabling producers to create refined mastersThe HD 490 PRO studio headphones deliver a wide, spatial sound stage with excellent localisation, enabling producers to create refined masters
“All these features combine to enable music professionals to identify and resolve any panning placement issues and troublesome low-end frequencies – ensuring clear mixes and superbly refined masters,” explains Gunnar Dirks, Sennheiser Product Manager. “The HD 490 PRO studio headphones put you in full control of every detail.”
The Sennheiser HD 490 PRO studio headphones put users in full control of every detail of the mixThe Sennheiser HD 490 PRO studio headphones put users in full control of every detail of the mix
A pleasure to wear
An excellent pair of studio headphones would only be half as good if it were uncomfortable. Therefore, the Sennheiser engineers have put decades of experience from professional headset design into the HD 490 PRO. Their lightweight, ergonomic design eliminates any pressure points, as the headband does not press on the sensitive parts of the head. Also, the circumaural ear pads feature a Sennheiser-patented soft comfort zone for the temples of glasses while maintaining good sealing.
A patent has also been applied for regarding the special axes geometry of the HD 490 PRO. This design makes sure that the headphones optimally adapt to the head when they are put on, and maintain an equal contact pressure no matter what the shape of the user’s head.
“When you’re creating music, the last thing you want is to be focusing on the fit of your headphones. The HD 490 PRO let you feel the music and forget about the headphones,” says Vipin Pungalia.
Two types of ear pads to perfectly adapt to the task at hand
“The development of the HD 490 PRO was preceded by the biggest professional headphone survey we ever did, where users voted neutral and flat reference audio as the most important feature,” explains Gunnar Dirks. “However, when we took a look at market figures, we discovered that a slightly warmer sound was preferred over a 100% neutral response. Therefore, we decided to give our customers two headphones in one – by providing two different sets of ear pads that were carefully designed to shape the sound differently.”
The producing ear pads (velour) of the HD 490 PRO have a slightly warmer response to create perspective and help users make a holistic judgement of the sound. The mixing ear pads (fabric), on the other hand, allow for a very flat, neutral sound that helps dive into detail when a sound reference is needed in finishing off a mix. Both ear pads are washable – a solution that is both hygienic and sustainable.
The type of ear pad has a massive impact on sound reproduction – with the HD 490 PRO, users get two headphones in one. With the producing ear pads reproduction is slightly warmer, while the mixing ear pads help to drill down on the individual frequenciesThe type of ear pad has a massive impact on sound reproduction – with the HD 490 PRO, users get two headphones in one. With the producing ear pads reproduction is slightly warmer, while the mixing ear pads help to drill down on the individual frequencies
A licence to dearVR MIX-SE
The HD 490 PRO includes a free licence for the innovative dearVR MIX-SE plugin from Dear Reality. The plugin turns a DAW into an ultimate virtual mixing environment, simulating the carefully designed acoustics of ideal mixing studios. Not only is the engineer or musician placed in the sweet spot, dear VR MIX-SE also helps them ensure a balanced and consistent translation of their mixes on different systems.
Attention to detail
The meticulous design of this top-of-the-range studio model does not stop with the accessories. For example, the headphone cable can be plugged into the right or left ear piece of the HD 490 PRO to cater to different studio set-ups and preferences. A patented cable coil structure ensures that the headphone cable does not transmit any noise when it hits the desk or rubs against the clothing. The left/right designation is clearly visible on the inside dust covers of the transducers, while for the visually impaired, the headband fork carries braille information.
Each HD 490 PRO is delivered complete with two different sets of ear pads (mixing and producing) plus a 1.8 m headphone cable and a dearVR MIX-SE licence.
The HD 490 PRO Plus (pictured) includes a case, additional 3 m headphone cable and an extra fabric headband padThe HD 490 PRO Plus (pictured) includes a case, additional 3 m headphone cable and an extra fabric headband pad.
“If you are looking for studio headphones that give you the transparency and excellent localisation needed for crafting outstanding mixes, the HD 490 PRO are your choice,” says Gunnar Dirks.
22, Feb 2024
Kyndryl and Veeam announce global strategic alliance to deliver comprehensive cyber resiliency
India, February 22, 2024 – Kyndryl, the world’s largest technology infrastructure services provider, and Veeam® Software, the #1 leader by market share in Data Replication and Protection Software, today announced a global strategic alliance focused on providing customers with resiliency services supported by innovative technology, expert infrastructure management and incident recovery services. Under the alliance, Kyndryl will now be a Veeam Accredited Service Partner (VASP).
Kyndryl offers professional services and technical implementation integrated with Veeam solutions, providing customers with options for:
Comprehensive Cyber Resilience: Using an integrated approach to help customers strengthen their stakeholder confidence with strategies to effectively recover from adverse conditions, including cyber incidents, human error and hardware failures.
Simplified Vendor Transitions: Provide customers with a seamless transition to modern, security and compliance rich cloud-based infrastructure with scalable and customizable options for hybrid and multi-cloud backup and recovery.
Modern Data Protection Solutions: Help customers modernize and protect data across their enterprise with a simplified, holistic approach on a single platform for effective and reliable data protection with robust defense for modern SaaS applications, data and systems.
Enhanced Operational Efficiencies: Integrated automation to drive operational efficiency, enabling customers with the flexibility to adapt to changing business needs and industry standards. The alliance combines Kyndryl’s expertise in managed security services and infrastructure management capabilities with Veeam. Kyndryl customers benefit from simplified and holistic data protection and ransomware recovery, optimized costs, operational efficiency, regulatory compliance features, and seamless data mobility along with cloud-native and Kubernetes environments with advanced security capabilities.
“Veeam is focused on ensuring organizations are prepared to bounce forward when the worst happens. Whether it’s a cyber-attack, an outage or a natural disaster we give customers peace of mind that their data is safe and can be rapidly recovered to keep their business running,” said John Jester, CRO at Veeam. “We’re excited to bring our technology together with the scale and expertise of Kyndryl to bring the benefits of Veeam technology to customers around the world. Together, we will keep businesses running.”
“Enterprise Strategy Group research shows that the market is in dire need of advanced cyber resilience globally which is why the expanded partnership between Veeam and Kyndryl comes at a critical time in the market,” said Christophe Bertrand, Practice Director at Enterprise Strategy Group. “The robust offerings that these long-time partners have devised, based on their respective technologies and skill sets, are laser-focused on core customer and market needs. We have been watching this partnership successfully grow over the last few years, and we expect that these robust offerings will be well received at a time when enterprises are struggling with IT complexity and cyber-crime.”
“With the ever-growing threat from cyber risks, maintaining cyber resiliency is a top priority for our customers,” said Debbie Nevin, Vice President of Global Alliances at Kyndryl. “Our partnership with Veeam enables us to support our customers’ business continuity posture and ability to recover from increasingly more sophisticated cyber incidents.”
22, Feb 2024
upGrad Harnesses AI to translate Certs & Bootcamps into vernacular languages
Bengaluru, 21st Feb 2024: upGrad, one of Asia’s largest integrated learning skilling and workforce development majors intends to enhance its product diaspora by translating popular Bootcamps & Certs into vernacular languages using AI for freshers and working professionals.
“Presently over 40% of upGrad’s learner base in India is from Tier 2 cities and beyond where regional languages are more prevalent compared to English,” highlights Asheesh Sharma – President, Certifications and Bootcamps, upGrad. Recognising this opportunity to improve the communication and the learning experience, the skilling major has identified Hindi, Tamil, Telugu, Kannada, and Bengali languages in phase 1 to ensure the brand penetrates deeper across every eligible household in the region.
The company aims to combine pedagogy with strong human interventions in the form of counsellors and buddies who could speak local languages further making it accessible and convenient for learners coming out of the vast national diaspora. Focusing on regional insights and demand, the catalogue will include courses in Engineering, Data Science, AI, Cloud Computing, DevOps, UI/UX, and Agile Project Management where upGrad has a strong foothold already, while Phase 2 will target Cybersecurity, Blockchain, Product Management, Business Analyst, and ITIL, with foreign languages like Spanish and Chinese. Over 5 lakh learners have been enrolled in the past with the most demand coming out of Bengaluru, New Delhi, Mumbai, Hyderabad, Odisha, Pune, Chennai, and Kolkata among others.
Utilising an in-house tech tool, counsellors will address inquiries related to one’s education, background, interests, and career aspirations to ensure effective guidance and decision-making. Aligned with GOI’s ambition of fostering cultural connection and cognitive development amongst India’s youth, this approach aims to bridge the gap between accurately selecting the right program/domain and achieving one’s desired career goals. “Most scepticism today is fed inorganically and needs stronger course correction. Online is an incredible tool that has come a long way from being a VC tool vs. an interactive and immersive format that’s hands-on and accessible at any given point. Considering that only 7 to 8% of graduates in India are deemed employable, our objective is to substantially elevate this figure by providing millions with some initial support or springboard to get closer to their career aspirations,” said Sharma while talking about the business objective.
The company invests significantly in AI-related developments internally and the onset of FY25 marks an important growth and transformative year for the brand. “We’ve already deployed AI across our operations much before it became the buzzword for building on to learner engagements, we are now taking it a notch higher by harnessing its impact into our curriculum and teaching. There’s wider acceptance and a sense of openness amongst professionals of all age groups,” he added.
The company may also extend these services to its Enterprise arm soon to further personalise corporate training sessions making them accessible to all strata. India being the HQ, the brand has witnessed 100% YoY growth in overall enrolments and further claims to double down its annual active learners in the next 1 year.
20, Feb 2024
Konverz.ai Launches Game-Changing Features for 60% Faster and Effortless Recruitment
India, 20th February 2024: Konverz.ai, a leading conversational AI and psycholinguistic analysis platform announces the enhancement of its platform to revolutionize recruitment processes. Developed and powered by Kognoz, a leading technology-driven people consulting company, the upgraded platform introduces advanced features to streamline talent acquisition for organizations worldwide.
Konverz.ai’s JobFit AI™ Engine leverages advanced natural language processing (NLP) algorithms and assessment models to assess candidates across multiple dimensions, including behaviour fit, domain fit, and overall job fitment. By automating these assessments, Konverz.ai accelerates the hiring process, reduces costs, and enhances the quality of hires for businesses.
The key features of Konverz.ai’s JobFit AI™ Engine includes:
- AI Screening: Automates the initial screening process to identify qualified candidates.
- AI Behaviour Fitment Interviews: Assesses candidates’ behavioural fit for specific roles.
- AI Domain Fitment Interviews: Evaluates candidates’ domain expertise and suitability.
- Multi-Language Support: Supports multiple languages to cater to diverse candidate pools.
- Proprietary Job Fitment Prediction Engine: Benchmarks candidates against job requirements to determine perfect fitment.
- Mobile and Web Accessibility: Enables seamless access for both candidates and hiring teams.
- Plug and Play Integration: Easily integrates with existing recruitment systems for quick deployment.
Commenting on the enhanced version of Konverz.ai, Lokesh Nigam, CEO, Konverz.ai said “With the unveiling of our enhanced version, Konverz.ai is breaking through industry norms by introducing features like automated AI screening, ensuring companies don’t overlook ideal candidates for the role. Our Plug and Play functionality resolve system integration challenges, making Konverz.ai an unmatched solution for modern hiring processes. By shattering industry norms and raising the bar for excellence, we are paving the way for a seismic shift in recruitment worldwide, empowering organizations to make astute hiring decisions with confidence and efficiency.”
Konverz.ai is revolutionizing the hiring game! We’re ecstatic to introduce cutting-edge features that will turbocharge organizations’ ability to make astute hiring decisions. These enhancements mark a pivotal moment where we’re not just raising the bar but shattering industry norms. Get ready for a seismic shift in recruitment worldwide!”.
Companies will be benefitting immensely from Konverz.ai through its seamless start feature, allowing them to instantly assess candidates from job postings across various platforms. They will also enjoy triple insights, gaining comprehensive understanding into candidates’ suitability with just one assessment. With the precision in prediction facilitated by the JobFit AI(TM) Engine, companies will be able to identify the perfect job fit accurately. Moreover, Konverz.ai will promote smart hiring harmony by seamlessly integrating AI insights with human expertise, ensuring optimal hiring decisions.
Since its inception, Konverz.ai has facilitated hiring processes that are 60% faster, saving businesses up to 44% of operational hours. With over 10,000 candidates interviewed in India and Asia, Konverz.ai continues to drive efficiency and effectiveness in talent acquisition.
Konverz.ai enhanced version represents a significant leap forward in the realm of talent acquisition. With its enhanced features and advanced capabilities, this innovative platform is poised to revolutionize recruitment processes, empowering organizations to make smarter, data-driven hiring decisions. For organizations seeking to stay ahead in today’s competitive landscape, this version offers the tools and insights needed to drive success in the ever-evolving world of talent acquisition.
20, Feb 2024
IET India Expands Reach with the Launch of Local Network in Hyderabad
Bangalore, 20th February: The India branch of the Institution of Engineering and Technology (IET), one of the oldest and largest professional engineering bodies in the world is thrilled to announce the launch of its latest Local Network in Hyderabad. This strategic expansion marks a significant step forward for IET India and the organization’s efforts to drive the advancement of the engineering community of India.
ET India’s Hyderabad Local Network currently has 400+ members that include students, as well as industry and academia pioneers. Throughout the upcoming year, the network will delve into three overarching themes: People-centric Infrastructure, Digital Futures, and Productive Manufacturing. With a comprehensive event calendar for the coming year, the Hyderabad Local Network is set to host a series of engaging activities, including hackathons, expos, and summits.
The academia-industry collaboration will be a focus area for the year, and the Network is geared up to partner with many leading industry players.
On the launch of the Hyderabad Local Network, Shekhar Sanyal (Director and Country Head, IET India) said “The IETF’s Local Networks are instrumental in driving collaboration and uniting the remarkable talent and dedication of our members and volunteers. I extend my heartfelt congratulations to the members of our newest Local Network in Hyderabad and warmly welcome them into the IET community. We look forward to witnessing the advancements that the network will foster in the region through collective efforts.”
The IET’s Local Networks across the globe play an essential role in facilitating collaboration, exchange of knowledge, and professional growth in the engineering and technology industries at the local level. Through them, the IET hopes to create a dynamic forum for professionals, academics, and enthusiasts in the region to interact, exchange insights, chart a roadmap for technology adoption and inspire engineers all over the world.
Looking forward to the new journey, Dr. Kalyan Sagar (Chair, IET Hyderabad Local Network) said, “Being the newest addition to the IET family fills us with immense pride and excitement as we join this global community driven by a shared passion for engineering and technology. We are on a simple yet profound mission to uncover fresh avenues for partnership, to spark innovative ideas, and to turn them into impactful projects that make a real difference and more than anything else become an inspiration to all engineers in this region.”
17, Feb 2024
Schaeffler India Limited announces Q4 and full year results for the period ended December 31, 2023
India 17 February, 2024: Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), the Motion Technology Company, today announced that the Board of Directors approved the results for the fourth quarter and full year ended December 31, 2023
September – December 2023 (Fourth Quarter Standalone Results)
· Revenue from operations (net) for the quarter (Q4 CY2023) was INR 18,551 million, higher by 3.4% than the corresponding quarter of 2022 and 0.4% higher than preceding quarter (Q3 CY2023)
· PBT (before exceptional items) for the quarter (Q4 CY2023) was INR 3,005 million, 2.9% lower than the corresponding quarter of 2022. PBT margin for the quarter stood at 16.2%, compared to 17.2% during the corresponding quarter of 2022
· Net Profit for the quarter was INR 2,174 million and net profit margin stood at 11.7%
compared to 12.9% during the corresponding quarter of 2022
January – December 2023 (Full Year Standalone Results)
· Revenue from operations (net) for the year was INR 72,261 million, higher by 5.2% than the corresponding period of 2022
· PBT (before exceptional items) for the year was INR 12,284 million, higher by 5.7% than the corresponding period of 2022. PBT margin for the year stood at 17.0%, compared to 16.9% during the corresponding period of 2022
· Net profit for the year was INR 9,090 million and net profit margin stood at 12.6% compared to 12.8% during the corresponding period of 2022
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “ Our balanced business portfolio, backed by conituned momentum in our key sectors helped sustain revenues for the quarter. Despite the adverse export mix, our annual performance was aided by our domestic businesses and trajectory of business wins across sectors. Our continued focus on efficient utlization of resources and productivity measures helped in sustaining the quality of earnings. Our robust cash generation and capex realization continues to remain in focus. Entering 2024 with an uptick from some of the market sectors, with committed efforts to leverage the market growth continues. Our consistent approach towards dividend payment reinforces our commitement to long term value creation. We wish to thank all our stakeholders for their confidence and continued support.Schaeffler Group – We pioneer motion”
The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for over 75 years. With innovative technologies, products, and services for electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable – over the entire life cycle. The motion technology company manufactures high-precision components and systems for drive train and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of EUR 15.8 billion in 2022. With around 84,000 employees, the Schaeffler Group is one of the world’s largest family-owned companies. With more than 1,250 patent applications in 2022, Schaeffler is Germany’s fourth most innovative company according to the DPMA (German Patent and Trademark Office).
17, Feb 2024
Unlocking Creativity: 3 startups with AR & VR Tools Empowering Interior Designers for Commercial Projects
Innovation is paramount in any given industry, especially in Interior Design and Build Industry. These innovative tools and techniques not only enhance visualization but also empower designers to unleash their creativity in unprecedented ways. The integration of advanced technologies such as Augmented Reality (AR) and Virtual Reality (VR) has heralded a transformative era for Indian interior designers, redefining the very essence of conceptualization and execution in commercial projects. Beyond merely augmenting visualization capabilities, these pioneering tools serve as catalysts, emboldening designers to explore uncharted realms of creativity.
From virtual room simulations to interactive product visualization, these tools offer a glimpse into the future of commercial interior design, where imagination knows no bounds, and creativity thrives in the digital realm. Join us as we embark on a journey to uncover the transformative impact of AR and VR tools on interior design, and explore how these startups are reshaping the industry landscape one virtual space at a time.
Here are the top 3 startups Unlocking Creativity with AR & VR Tools Empowering Interior Designers for Commercial Projects: –
Flipspaces:
Established in 2015, Flipspaces is the first tech-enabled brand which offers a full stack solution for design and build of commercial spaces. It is also the largest global supply chain platform for interior products and services backed by its strong technology and industry acumen. Flipspaces SaaS driven product Vizstore is a virtual store which allows interior product owners to digitize the product display, visualization and selection experience aided by virtual reality technology. Embracing its cutting-edge technology specially created for furniture and furnishing retail stores, it helps boost the sales by 30% while reducing store rent to mere 3 paise per sqft.
Pepperfry:
Pepperfry since 2011 brings to you stylish and quality furniture with attractive EMI options. From electrical appliances to wall arts, Pepperfry grants everything you need to make your apartment a home and your home your dream one.
Spaceler:
Incepted in April 2016, Spaceler commenced its journey with the vision of creating high-performance spaces for business establishments by delivering design innovations led by three enterprising entrepreneurs who come from diverse backgrounds like design, technology and finance. Spaceler has served clients from diverse industries and business sizes. Together, they assist in exceeding their design and business objectives.
