European Cheese ‘Full Of Character’ Campaign Grows Stronger, Enters Its Second Year

17th July 2024  Delhi, India  The French Dairy Board (CNIEL), with aid from the European Union, representing an exquisite variety of authentic French cheese, is back with year two of its ‘Full of Character’ campaign in India. The campaign aims in 2024 to continue celebrating the rich heritage, exceptional quality, and irresistible flavors of French cheeses.

In 2023, ‘Full of Character’ was a delightful adventure that captivated the hearts and palates of cheese lovers across India. The immersive events and experiences such as in-store promotions, and culinary workshops led by best-awarded cheesemonger François Robin were well-received. This good response has motivated the forum to continue the delicious journey of European cheeses. And cheese lovers across the country can gear up for more such exciting events and engagement opportunities in this second year.

The French Dairy Board will be organizing workshops, tastings, and masterclasses led by cheese experts and popular chefs, to help deepen the understanding and appreciation for cheese varieties. Expect wider reach via collaborations with retailers. All these events and experiences showcase the use of cheese from France in traditional Indian and contemporary dishes.

Sustainability and responsible production are key for the ‘Full of Character’ campaign. The French Dairy Board is committed to animal welfare and environmental stewardship. It is also committed to partnering with trusted farmers and cheesemakers who uphold the values of authenticity and respect for the environment.

Emilie Martin, Managing Director APAC at CNIEL, says, “We are grateful for the response we received in the first year of ‘Full of Character” and are excited to continue sharing our love for exceptional quality cheeses from France with more and more cheese enthusiasts and lovers in India. ‘Full of Character’ is not only a tribute to the flavours and quality of European cheese varieties but also to the art of cheesemaking. We’re also focused on raising more awareness about the significance of supporting sustainable and responsible cheese production.”

Lastly, the second year of ‘Full of Character’ is getting even tastier by encouraging cheese lovers on social media to share their love for European cheeses using #EnjoyitsfromEurope #FullofCharacter on Facebook and Instagram. Think mouthwatering recipes, experiences, and more!

Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Research Executive Agency (REA). Neither the European Union nor the granting authority can be held responsible for them.

Nuvoco Vistas Corp Achieves Highest-ever Profitability with Consolidated EBITDA at Rs. 1,657 Crores and PAT at Rs. 147 Crores

17th July 2024  Mumbai, Maharashtra, India  Nuvoco Vistas Corp. Ltd., a leading building materials Company in India, announced its audited financial results for the year ended March 31, 2024. With 25 MMTPA of combined installed capacity, Nuvoco Vistas Corp. Ltd. is the fifth largest cement group in India and amongst the leading cement players in East India.

The Company’s consolidated cement sales volume stood at 18.8 MMT in FY24. Consolidated revenue from operations stood at Rs. 10,733 crores, during the same period. Consolidated EBITDA improved by 35% YoY to Rs. 1,657 crores. Further, the company reduced net debt by Rs. 384 crores YoY to Rs. 4,030 crores, resulting in Net debt / EBITDA of 2.4x.

This year marked the successful commissioning of a 1.2 MMTPA Grinding unit at the Haryana Cement Plant, marking a significant milestone in our expansion. The development has enhanced North share in the total company’s capacity from 20% to 24% and will further solidify our footprint in the region. The company completed debottlenecking projects at Risda and Nimbol Plants, which has resulted in a notable increase in clinker capacity.

The Company remains dedicated to its strategic imperative in premiumization and has expanded its premium products Duraguard F2F and Concreto Uno, into the markets of West Bengal and Jharkhand. Concreto Uno’s unique water-repelling properties and damp lock formula address the ever-changing needs of the construction industry.

The Company made significant strides in sustainability efforts under its ‘Protect Our Planet’ agenda with a reduction in carbon emissions by ~2% YoY to 454 kg CO2 per ton of cementitious materials1, reaffirming our position amongst the industry leaders in low carbon emissions. The Alternate Fuel Rate (AFR mix) saw an impressive improvement, increasing to 13% in FY24 from 9% in FY23, amongst the best in the industry. The Company also increased its solar power capacity to 5.3 MW in FY24 from 1.5 MW in FY23.

Commenting on the performance of the Company, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., stated, “The Company enhanced its operational efficiencies and delivered strong growth in EBITDA and PAT despite a volatile demand environment during FY24, achieving the highest profitability. Our commendable operational outcomes reflect our dynamic and efficient strategy focused on premiumisation and cost optimisation. Moving to FY25, our strategies focus on growth, expanding our market presence, and extracting more volumes from home markets while continuing our thrust on efficiency improvement initiatives.”

Furthermore, he added, “The additional capacity in Haryana allows us to expand our market presence in the North while maintaining our leadership in the East. We have also seized the opportunity to grow our Ready- Mix Concrete business, commissioning seven new plants this fiscal year, bringing the total to 58 plants pan-India.”

Mumbai Art Fair 2024: A Visual Delight Awaits with 300 Artists and 3000 Exquisite Artworks from 3rd to 5th May

17th July 2024  Mumbai, Maharashtra, India  Mumbai Art Fair, the premier platform for emerging talent in the Indian art scene, is set to return for its highly anticipated 5th Edition from 3rd May to 5th May 2024. Hosted at the centrally located Nehru Centre, Discovery of India Building in Worli, the art fair promises to be a celebration of creativity, innovation, and diversity in contemporary art. From established artists to emerging talents, regardless of age or qualification, artworks spanning from Ladakh to Kanyakumari will be showcased. This year’s extravaganza will feature 300 artists and exhibit a diverse range of around 3000 paintings from across the country. From landscapes to portraits, abstracts, realism, cityscapes, and religious paintings, the artworks will present a myriad of styles and subjects, imbued with profound meanings.

The Mumbai Art Fair will host three mesmerizing evenings where art and music converge in a harmonious symphony known as the “Fusion Show.” On the first day, artist Prakash Bal Joshi’s captivating canvases will be painted with vivid tales, accompanied by the timeless melodies of flutist Girish Kulkarni. On the second day, the delicate tones of Ajinkya More’s Jaltarang will intertwine with the captivating paintings of Prof. Surendra Jagtap. This mega show will culminate with a soul-stirring sitar performance by Zaminali Khan, as artist Gautam Das translates the melodies into live art. All events will be accompanied by the rhythmic beats of ace tabla player Tushar Pawar.

Mr. Rajendra Patil, Director Mumbai Art Fair shared, “Since its inception, Mumbai Art Fair has been dedicated to nurturing and promoting emerging artists, providing them with a platform to exhibit their work, expand their network, and gain visibility in the art world. This year, the fair continues its tradition of supporting young talent with 300 artists from across India showcasing around 3000 diverse range of artworks, including seascapes, landscapes, rural and urban scenarios, portraits, wildlife art, and abstract works.”

The ground floor of the Discovery of India Building will house 75 air-conditioned booths, where attendees can explore a rich tapestry of artistic expressions. Participating galleries include Beyond the Canvas, Bouquet of Art Gallery, Dev Mehta Art Gallery, Studio3 Art Gallery, and Greyscale from Mumbai, as well as Artecious Gallery, Aura Planet, Meraki Art House from Delhi, and Arpitam Kala Mandir from Kolkata.

Among the notable artists exhibiting at this year’s fair are Shruti Challani, Rohan Sonavane, Monalisa Parekh, Prateek Kushwah, Dev Mehta, Beena Surana, Om Thadkar, Jenaifer Daruwala, Vijay Kumavat, Ashwin Kumar, Soumen Kar, Gautam Das, Akshata Shetty, and Gautam Patole. Their works span a wide range of styles and genres, from vibrant figurative paintings to minimalist and symbolic works, as well as unique stylized pieces and realistic compositions with stunning details.

Visitors to the fair can expect to be captivated by a diverse array of artworks, including vibrant figurative paintings by Purvi Lohana, Niyati Amlani, Dr. Lekshmi Sukumaran, and Manoj Das, as well as the chance-but-orchestrated effect works of Jenaifer Daruwala. Symbolic works with minimalist style will be showcased by artists such as Shruti Challani, Rashmi Pote, Samta Gala, Rakhi Sarmah, Stella Fernandes, Anavi Chawla, and Pallavi Singh, while sculptors like Rohan Sonavane and Soumen Kar will present their unique creations in metal.

Other highlights of the fair include realistic works with stunning details by Prashant B Ghaywat, spiritual artworks by Monalisa Parekh and Shivani Banerjee, and abstract paintings by Lalita Sonavane, Neha Jhunjhunwala, Atul Bhalerao, Divya Kotak, Kailas Kale, and Prakash Bal Joshi.

Additionally, artists Dev Mehta, Beena Surana, Om Thakkar, Arpita Shah, Vijay Kumavat, Jiya Phulphagar, Sneha Kamthe, Saket Arbhi, and Ujjayni Pawar will be exhibiting works in monochromatic tints, mostly black and white, focusing on elements such as composition, value, lighting, and form.

Landscape painting enthusiasts will also find plenty to admire at the fair, with themes ranging from abstract landscapes to floral, romantic, pastoral, seasonal springs, buildings and structures, waterscapes, and cityscapes. Mixed media works by late artists Prabhu Joshi and Ujjwala Surwade, as well as flowerscapes by Lakshika Bhola and Deepal Bhat, and semi-abstract landscapes with defused light by Rupali Mansinghka, will be among the many offerings available.

In addition to providing a platform for artists to showcase their work, the Mumbai Art Fair offers attendees a moment of peace and tranquility amidst the purely pious and spiritual expressions of the artists, as well as narrative storytelling through various works.

By returning each year with a diverse range of artists and artworks, Mumbai Art Fair aims to create a stable platform for all kinds of art, catering to the passion and investment needs of art buyers and lovers in Mumbai.

TVS Motor Company Registers Sales Growth of 25 percent in April 2024

17th July 2024  Bengaluru, Karnataka, India  TVS Motor Company registered a growth of 25% with sales increasing from 306,224 units in April 2023 to 383,615 units in April 2024.

Two-Wheeler

Total two-wheelers registered a growth of 27% with sales increasing from 294,786 units in the month of April 2023 to 374,592 units in April 2024. Domestic two-wheeler registered growth of 29% with sales increasing from 232,956 units in April 2023 to 301,449 units in April 2024.

Motorcycles registered a growth of 24% with sales increasing from 152,365 units in April 2023 to 188,110 units in April 2024. Scooter registered a growth of 34% with sales increasing from 107,496 units in April 2023 to 144,126 units in April 2024.

Electric Vehicle

The new Electric Mobility Promotion Scheme (EMPS) 2024 came into effect in April 2024 after FAME II ended in March 2024. Ensuring a smooth transition, TVS Motor recorded electric vehicle sales of 17,403 units in April 2024, indicating continued robust demand. Electric vehicle sales last year in April 2023 were at 6,227 units.

International Business

The Company’s total exports registered a growth of 12% with sales increasing from 71,663 units in April 2023 to 80,508 units in April 2024. Two-wheeler exports registered a growth of 18% with sales increasing from 61,830 units in April 2023 to 73,143 units in April 2024.

Three-Wheeler

Three-wheelers of the Company registered sales of 9,023 units in April 2024 as against 11,438 units in April 2023.

Postcard Travel Club Introduces an Interests-Based Search Engine for Conscious Travelers

17th July 2024  Delhi, India  With a mission to simplify how travelers discover boutique properties and immersive experiences, Postcard Travel Club launched its unique interests-based search engine on May 1, 2024. A feature for conscious travelers, it supports value-aligned individuals and in three simple steps connects them with a global community of boutique properties committed to advancing responsible travel. This ensures that travelers save time, stay inspired while researching, build direct connections, and focus on immersive experiences hassle-free.

“Postcard Travel Club is changing the way conscious travelers discover and book their next mindful adventure,” says Amit Jaipuria, Founder and CEO. “Our new interest-based search engine empowers conscious travelers to effortlessly find boutique properties and immersive experiences tailored to their unique interests and values. By seamlessly connecting travelers to curated, value-aligned offerings, we’re positioning Postcard Search as a search engine for mindful travel and inspiration. Our mission is to make mindful travel more accessible and rewarding than ever before.”

Within the platform, Postcard Travel Club’s innovative digital postcards showcase experiences and properties in a new and easy-to-read short-form media format. Each digital postcard includes one or two interest tags, streamlining the search process by matching the experiences to traveler interests. These postcards can be collected and referenced easily, offering a more efficient and personalized way to plan travel than traditional search engines that need users to sift through SEO-driven articles.

Looking ahead, Postcard Travel Club plans to expand its offerings with map-based search, a rewards and loyalty program, and AI integration. This will help Postcard Travel Club serve as a change-maker in the mindful travel community. The brand also aims to bring together a community of like-minded conscious travelers through new media launches including ‘Postcards From The Field’ and immersive on-ground meet-ups and events such as ‘Postcard Travel Talks’.

Steward Leadership 25 (SL25) 2024 Opens for Application

17th July 2024  Singapore  In an era where talk of sustainability often exceeds impactful action, Singapore’s Stewardship Asia Centre (SAC) and its partners have embarked on a mission to spotlight businesses that are leading by example. The third iteration of Steward Leadership 25 (SL25) aims to honor projects that embody the essence of steward leadership by merging profitable growth with solutions to some of humanity’s most pressing challenges.

Steward leadership, characterized by a deep-seated commitment to fostering a brighter future for stakeholders, society, future generations, and the environment, is not merely a noble pursuit but a strategic business imperative. It seeks to establish an optimal approach to growth, marrying profit and purpose and achieving prosperity that benefits employees, shareholders, and society alike.

Open to for-profit entities of all sizes and sectors, SL25 welcomes submissions of projects that have generated positive societal and environmental impacts. The application ends 15 May 2024. Last year’s cohort showcased a diverse array of projects from 14 countries, led by companies operating in sectors ranging from financial services and transportation to food and beverage and real estate.

Past honourees have focused on serving underprivileged communities. For instance, Tata Consultancy Services has improved digital access and literacy to youths and seniors, contributing more than S$40,000 worth of laptops and wi-fi connections to underprivileged students to relieve COVID-19 challenges, benefitting more than 150 students in Singapore.

India’s leading consumer goods company, Marico, underscores the importance of environmental stewardship and generates sustainable livelihoods. Among their initiatives is a social value creation program, Parachute Kalpavriksha, which equips farmers with scientific and climate-resilient farming methods to promote sustainable agriculture while improving their productivity and income generation opportunities.

Rajeev Peshawaria, CEO of SAC, remarked, “Everyone is talking about sustainability, yet we are not making enough progress. We at SAC have found champions who are quietly creating a powerful impact on society and the environment through their businesses. SL25 recognises these champions of steward leadership.”

The previous iterations of SL25 have brought to light a variety of impactful projects, and the expectation for 2024 is no different. Annisah Smith, Senior Research & Engagement Manager at SAC, shared, “With the growing adoption of steward leadership principles across corporates and SMEs in the region, I’m eagerly anticipating the innovative projects ahead. I’m excited to witness the transformative effects these initiatives will have on communities and the wider Asia-Pacific area.”

The top 25 projects will be showcased at the Steward Leadership Summit 2024 in Singapore, SAC’s flagship event that convenes business leaders, global experts, and eminent speakers to discuss and promote the concept and practice of steward leadership.

SL25 is proudly supported by the Association of Chartered Certified Accountants (ACCA), The American Chamber of Commerce in Singapore, Confederation of Indian Industry (CII), Centre for Impact Investing and Practices (CIIP), Family Business Association (Australia & New Zealand), The Family Business Advisors Association Japan (FBAA), Institute of Corporate Directors Malaysia (IDCM), Indonesian Institute for Corporate Directorship (IICD), Singapore Centre for Social Enterprise (raiSE), Singapore International Chamber of Commerce (SICC) and UN Global Compact Network Singapore (GCNS).

Vegas Mall Bags “Most Admired Shopping Centre of the Year- Mixed Land Use Development” at MAPIC Awards 2024

17th July 2024  New Delhi, Delhi, India  Vegas Mall, Delhi’s premium shopping and entertainment destination, achieved a milestone by winning “Most Admired Shopping Centre of the Year-Mixed Land Use Development” at MAPIC India Shopping Centre and Summit Awards 2024, held at JW Marriott, Aerocity, New Delhi.

MAPIC India Shopping Centre and Summit Awards is India’s first and premiere awards programme dedicated to the shopping centre industry. The award recognizes excellence in the business of shopping centres in various categories, focusing on outstanding achievements that concern the industry. Vegas Mall’s features as mixed land use development, offering the presence of International retail brands, lavish office spaces, a multi-cuisine food court, one of the largest hypermarkets, and multiple other features have earned it this prestigious award.

On receiving this award, Mr. Ravinder Choudhary, Vice President of Vegas Mall, expressed, “We are thrilled and honored to have received the “Most Admired Shopping Centre of the Year-Mixed Land Use Development” at MAPIC Awards 2024. This accolade celebrates our commitment to redefining the shopping experience, offering a fusion of luxury, leisure, and innovation. With gratitude, we dedicate this honor to our patrons who inspire us to set new standards of distinction every day.”

Minor Hotels Gears Up for India Acceleration

17th July 2024  Mumbai, Maharashtra, India  Minor Hotels, a global hotel owner and operator with more than 540 properties in 56 countries, is set to intensify its presence in the dynamic Indian hospitality market, targeting 50 new openings within the next decade.

The group will focus its strategy on the upper-upscale and luxury hotel segments, where it expects strong interest from owners in its well-established Anantara, Avani, and NH Collection brands.

For Anantara Hotels & Resorts, the group is building on core brand differentiators by targeting opportunities in Ayurvedic wellness retreats, wilderness lodges, and historical palaces. It also believes Avani Hotels & Resorts is well positioned to fill a significant gap in the lifestyle hotel space across India, while NH Collection Hotels & Resorts will prove attractive for upper- upscale conversion opportunities.

Minor Hotels has also identified strong potential for the upscale NH Hotels & Resorts, particularly in rapidly developing tier two cities and airport locations.

Eyeing hotel management contracts and with an emphasis on greenfield developments, Minor Hotels will look to identify opportunities in up-and-coming locations, continuing a strategy of destination creation that has been the foundation of the group’s 46-year history.

Amir Golbarg, SVP for Middle East, Africa and India for Minor Hotels, said, “We are bullish on the potential of India, and have already been overwhelmed with owner interest, but are proceeding with a ‘partnerships over properties’ approach. It means we are being very selective in the hotels that we add to our portfolio, with our focus on cultivating meaningful alliances with partners who align with our values and vision. Minor’s strength has always been in our ability to think globally while acting locally, meaning we are well versed at adapting our standards and operations to suit the unique characteristics of each market we operate in – a trait we believe will give us a strong advantage in India.”

Minor Hotels has been present in the India market since 2017, when it launched Oaks Bodhgaya in the northeast Indian state of Bihar. But the group will mark a significant milestone later this year with the opening of Anantara Jaipur Hotel, the debut of its flagship luxury brand in India.

To support this expansion, Minor Hotels has opened a new office in Bengaluru, underscoring its commitment to long-term presence in the Indian market. The group recently appointed Vijay Krishnan as Vice President of Operations for India, overseeing a growing team on the ground. By establishing a permanent strategic presence in Bengaluru, Minor Hotels has positioned itself at the forefront of emerging opportunities in southern India, anticipating significant growth potential in the region.

Dillip Rajakarier, CEO of Minor Hotels and Group CEO of its parent company Minor International (SET:MINT), said, “We believe in India. We believe in its potential as a world- class inbound destination. And we believe in the enormous opportunities that lie in its surging domestic market. It’s why we have made substantial investments in establishing our operations there, and will continue to invest there to realise our growth ambitions. With our extensive experience in managing world-class hotels in emerging destinations, coupled with the strong recognition of our existing hotel brands within the Indian market, we are confident in our ability to play a significant role in India’s ongoing tourism success story.”

Minor Hotels brands have already built strong recognition amongst Indian travellers. For Anantara in particular, India is one of the fastest-growing international source markets, with annual room night production across its Asia and Middle East properties growing 72% in 2023 versus 2022. That trend has continued to date in 2024, with Q1 figures up 36% on last year.

Minor Hotels is also a member of GHA DISCOVERY, the world’s largest alliance of independent hotel brands. Revenue generated by GHA hotels in India hit a record US$68 million in 2023, with GHA loyalty members in India also topping 500,000 for the first time, a 21% year-on-year increase. Indian members also spent more at GHA hotels last year than ever before, generating a record US$60 million in hotel revenues, up 46% year-on-year.

According to research from GHA, its Indian members are planning on average four leisure trips, three staycations and five business trips in 2024, with the top three destinations being Europe, Thailand and Maldives. Minor Hotels is one of the largest players in each of those markets, with more than 300 properties in Europe, 25 in Thailand and seven in Maldives.

Minor Hotels’ growth strategy in India is part of an ambitious global expansion plan for the Bangkok-based group, which is targeting to add more than 200 hotels in the next three years.

VGN Launched Gated Community Plots “VGN PARADISE” at Thiruvottiyur, WIMCO Nagar in North Chennai

17th July 2024  Chennai, Tamil Nadu, India The Chennai-based VGN Group, a leading real estate builder and developer in the city, has launched residential plots at Thiruvottiyur, 200 meters from WIMCO Nagar Metro station in North Chennai. The layout is modeled on a fully-compounded gated community with 259 plots, each ranging from 753 to 1500 sq.ft. Approved by CMDA and Real Estate Regulatory Authority (RERA), the plots are priced at Rs. 6999 per sq.ft.

VGN’s layout are developed with Plug & Play features & Amenities such as Metro water provision, Underground sewage provision, Piped Natural gas (PNG) provision, Underground EB & Stormwater trench. The layout features roads, measuring 7.2 to 9-metre width, built on the standards set by the Indian Roads Congress, a government body. They have raised platforms for pedestrians. The layout has a well-developed park – and there are over 1000 avenue trees within the gated community. It also has obtained an ‘Approved Project Financial’ (APF) number, making it easy for buyers & investors to get loans from banking and Non-Banking Financial Companies.

WIMCO Nagar, where the layout is located, was long considered the ‘secret treasure’ of Chennai, as its real estate potential is not fully realized. However, the arrival of the Metro Station, the first station on the route in North Chennai, made WIMCO Nagar a pivotal point on Chennai’s mobility landscape, besides paving the way for rapid infrastructure development – so much so that it is now billed as the next Anna Nagar. Still, land prices at WIMCO Nagar are less than 50% of what they are in Anna Nagar. As WIMCO Nagar is not a low-lying area and as it was not created by destroying any water bodies, the region is not vulnerable to floods.

In his comments, Mr. V.N. Devados, Chairman cum Managing Director, VGN Group, said, “We have created this vast layout close to the Metro Station. It sports broad roads and a well-developed park. Easy and quick access to roads and trains make the real estate irresistible for those who commute to work. One can reach central part of Chennai within 30 minutes either on road or by train. Also, it takes an equal amount of time to reach both Anna Nagar and WIMCO Nagar from Chennai Central. Better air quality and the availability of water, power, and PNG, besides proper sewage and stormwater drainage are the key attractions for the residents. There are large industries such as Manali Petroleum Refinery, Ennore Thermal Power Station, and MRF, but as they are located well within the industrial zone, the environment is clean in the residential areas. It is well documented that the air quality in WIMCO Nagar is better than what is in Mount Road.”

He pointed out that the present government has earmarked Rs. 1,000 crore for the ‘Valarum Vada Chennai’ project which aims to create healthcare facilities, and physical infrastructure in Thiruvottiyur, WIMCO Nagar and other parts of North Chennai. Surveys are being done and there will be many new projects in this region. The government is also planning to develop a beach with parks, a bridge, glass tunnel, and cycle tracks. Hence, people looking for a plot to construct homes and good investment opportunities in real estate can choose, WIMCO Nagar in general and our layout “VGN Paradise” in particular with eyes closed.