3, Feb 2024
T-Hub and Bala Vikasa Partners to Propel Rural, Social, and Frugal Innovation
Hyderabad, 3rd Feb 2024 – T-Hub, India’s leading startup incubator has today announced partnership with Bala Vikasa, a trailblazing community development innovator. This collaboration aims to foster innovation, address grassroots challenges, and drive large-scale social impact. The Memorandum of Understanding (MoU) was signed at the Social Start-up Expo organized by the Bala Vikasa Center in the esteemed presence of Duddilla Sridhar Babu, Minister for IT & EC, Industry and Commerce, Telangana Government.
This strategic collaboration aligns with the imminent plans of the Telangana state government, poised to unveil a new Micro, Small, and Medium Enterprises (MSMEs) policy. With a deliberate emphasis on intertwining social entrepreneurship within this policy framework, the government aims to fortify Telangana’s position as a central hub for social innovation and entrepreneurial growth in the foreseeable future. The partnership between Bala Vikasa and T-Hub will be instrumental in realizing this vision, focusing on Social Innovation, Frugal Innovation, and Rural Innovation, with the shared goal of transcending urban boundaries and making a substantial impact in rural spaces.
Under this partnership, T-Hub is set to provide robust support to startups, offering specialized capacity-building programs in collaboration with Bala Vikasa to elevate skills and knowledge. Additionally, the collaboration formalizes Bala Vikasa as a valued Program Partner, signifies a strategic commitment to mentorship and knowledge exchange initiatives aligned with shared objectives. T-Hub will further facilitate Market Access Support by Bala Vikasa, empowering startups within T-Hub programs, streamlining market access, and creating pivotal opportunities for pilot projects. The collaboration also envisions the Cross Utilization of Infrastructure, marking a shared commitment to maximizing operational efficiency and fostering innovation in India’s dynamic startup ecosystem.
Anthony Anish, Chief Operating Officer, T-Hub, expressed enthusiasm about the collaboration, stating, “As T-Hub embarks on this transformative partnership with Bala Vikasa, we are dedicated to fostering startups that make a tangible impact. Our commitment is to build a new vertical with a strong focus on rural, social, and frugal innovation. We aim to support promising innovations that cater to untapped rural markets and address critical social issues through accessible and affordable solutions. Together, we strive to empower startups, drive innovation, and create meaningful change in the startup ecosystem.”
Shoury Reddy Singareddy, Executive Director of Bala Vikasa, emphasized, “While we will be working on multiple activities in the realm of capacity building, mentoring, knowledge development, and ecosystem-strengthening in the coming days, we will be supporting the social business accelerator program by T-Hub immediately.”
Till now, T-Hub has nurtured nearly 110 social impact startups. Among these success stories are Banyan Nation, a pioneer in plastic recycling with a unique circular economy approach; Donatekart, revolutionizing crowdfunding with a focus on transparency; Financepeer, providing crucial support for education payments during the pandemic; and Kisanwala, a digital agri marketplace empowering farmers. T-Hub continues to be a catalyst for transformative ventures, fostering innovation and social change.
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- By Rabindra
3, Feb 2024
Embassy REIT Achieves Full Year Leasing Guidance of 6.5 Million Square Feet in 9 Months
Bengaluru, India, February 3, 2024
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2023.
Aravind Maiya, Chief Executive Officer of Embassy REIT, said,
“It’s been a remarkable quarter for Embassy REIT. We’re pleased to announce that we’ve achieved our annual leasing guidance in just 9 months. As our 2.2 msf of pre-leasing to three renowned global companies demonstrates, India continues to be a thriving business hub for GCCs. As more and more multinationals set up their centres in India, their need for premium office spaces to house their talent will grow exponentially in the coming years. Our refinance of ₹2,600 crores through a combination of instruments provides us increased flexibility in managing our debt portfolio. Lastly, the strength of our business is reflected by the excellent response of equity investors to the recent sponsor stake sale, which has resulted in an increase of our public float to 92% and a truly diversified blue-chip unitholder base.”
The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of ₹493 crores or ₹5.2 per unit for Q3 FY2024. The record date for the Q3 FY2024 distribution is February 12, 2024, and the distribution will be paid on or before February 17, 2024.
Business Highlights
· Record leasing of 3.5 msf across 22 deals, including 1.1 msf of new leases and three large pre-lease deals of 2.2 msf in Bengaluru with leading multinationals
· Global Captive Centres (GCCs) in primarily BFSI, retail, and tech sectors accounted for over 78% of total leasing
· 90%+ occupancy levels across 50% of Embassy REIT’s properties Financial Highlights
· Revenue from Operations grew by 8% YoY to ₹936 crores
· Delivered distributions of ₹493 crores or ₹5.2 per unit
· Refinanced ₹2,600 crores at an average rate of 8.25% including first-time commercial paper issuance of ₹1,000 crores; strong balance sheet with an industry-leading in-place debt cost at 7.8% and dual AAA/Stable credit ratings Operational & Development Highlights
· Development pipeline of 6.9 msf of which 90% is in Bengaluru at highly attractive yields of over 20%
· Hotel portfolio continued to perform strongly with 55% occupancy, 19% YoY ADR growth and an EBITDA of ₹50 crores
· Included in the 2023 Dow Jones Sustainability Indices making Embassy REIT the first Indian REIT to be recognized for its sustainability initiatives by this leading global benchmark
Investor Materials and Quarterly Investor Call Details
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) condensed standalone and condensed consolidated financial statements for the quarter and nine months ended December 31, 2023 (ii) an earnings presentation covering Q3 FY2024 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs.
Embassy REIT will host a conference call on February 5, 2024 at 17:00 hours Indian Standard Time to discuss the Q3 FY2024 results.
3, Feb 2024
Lions Clubs Intl President to grace Seminar on Cancer …
Hyderabad, February 3, 2024: FTCCI in association with Lions Clubs and Telangana and Andhra Plastics Manufacturers Association (TAAPMA) is organizing a Seminar 3rd February, Saturday at FTCCI hall, Red Hills, Hyderabad on the eve of World Cancer Day which is observed on February 4th. The Seminar is organised to bring awareness about Cancer and it’s treatments among the people.
Lions International President Dr Patti Hill is joining the seminar as Chief Guest to address the participants of all sections of the community. One of the Global causes of Lions International is cancer. Lions International Director Dr Babu Rao, President FTCCI Mr Meela Jayadev and President TAAPMA A Dayakar and R Sunil Kumar Past International Directors will also be participating.
Dr Pavan Kumar B, Dr Harish NL, Dr Kalyan and Dr Pranneth from different hospitals will speak on different topics with more focus on Palliative Care i.e. how to provide a dignified life at the end stage of life. The seminar is organised with the slogan is “Let’s Conquer Cancer”
As all we know the deadly disease of Cancer and its incidence is increasing day by day.
As per the LANCET Journal every year seventy percent of Cancer victims are dying. To fight it people should know what is and how to identify the early symptoms of it to go to the doctors. Diagnosis at early stages is always curable. And people should know what types of treatments are available throughout the world and how Robotic treatments will help in curing the different types of cancers.
3, Feb 2024
Air India Announces the Appointment of Ravindra Kumar G.P. as Chief Human Resources Officer
Bangalore, 03 February 2024: Air India today announced the appointment of Ravindra Kumar G.P. as Chief Human Resources Officer, reporting to CEO & MD Campbell Wilson.
Ravi will formally assume the role on 1 April 2024, succeeding Dr Suresh Dutt Tripathi who is retiring.
Following a long career with General Electric Company, the last four years of which as CHRO for South Asia, Ravi joins from Tata Motors Limited where he has held the role of President & CHRO since 2018.
Announcing the transition, Campbell Wilson, CEO & MD of Air India, said: “We are delighted to have Ravi join the Air India team, and we look forward to his contribution to the next phase of our transformation journey. At the same time as welcoming Ravi, we acknowledge the outstanding contribution of Suresh who, upon Air India’s privatization, answered the call and has played a vital role over the last two years. We wish him well in his well-deserved and well-earned retirement.”
3, Feb 2024
St. Louis Area Diaper Bank Hosts Fourth Annual Bloody Mary Brunch
Fundraiser to support the nonprofit’s period supply program.
(St. Louis, Mo., Feb. 3, 2024) — The St. Louis Area Diaper Bank will hold its fourth annual Bloody Mary Brunch on Sun., March 24 from 11 a.m. to 2 p.m. at its headquarters located at 6141 Etzel Ave. The event, open to those 21 years of age and older, will feature a Bloody Mary and mimosa bar plus light brunch. Tickets are $60 per person, and all monetary donations will support the Diaper Bank’s period supply program, which helps nearly 35,000 girls and women annually with period kits.
Attendees will have the interactive opportunity to count, sort, and pack period supply kits for local school partners. Other activities include raffles, a glitterati photo station, and a brief presentation about the agency’s efforts to end period poverty in St. Louis.
The period supply program distributes period supplies through community partners and advocates for the elimination of “period poverty”. In 2024, 900,000 period supplies will be distributed in St. Louis, with 20,000 period supplies allocated each week. Two-thirds of low-income women in St. Louis cannot afford menstrual hygiene products, with 46% of low-income women having to choose between food and period supplies.
The St. Louis Area Diaper Bank, founded in 2014, provides diaper and period supply access to the region’s low-income families and raises community awareness about the causes and consequences of diaper need and period poverty. The nonprofit is a member of the National Diaper Bank Network and its sister organization Alliance for Period Supplies, a nationwide nonprofit dedicated to eliminating diaper need and “period poverty” in America. The period supply program ensures access to menstrual hygiene products, which allows full participation in daily life with dignity.
For more information about the Bloody Mary Brunch or to donate, call (314) 624-0888 or visit their website.
2, Feb 2024
78th National Garment Fair by CMAI Sets tone for Apparel Industry Outlook in FY25
Mumbai, February 2, 2024: The National Garment Fair (NGF 2024) Spring-Summer Edit, organised by the Clothing Manufacturers Association of India (CMAI) in Mumbai, unfolded over three days from January 29 to 31, 2024. The event drew an impressive crowd of close to 18,000 visitors including national and regional retailers, distributors, and wholesalers. The robust business activities and bookings recorded during NGF 2024 clearly mirror the positive momentum in retail sales anticipated for the upcoming Spring-Summer season.
Encompassing an expansive 700,000 sq. ft. across seven halls, the Spring-Summer Edit of the National Garment Fair 2024 (NGF 2024) took place at the Bombay Exhibition NESCO Complex in Goregaon East. With over 1025 participants showcasing more than 1,120 brands across Women’s wear, Men’s wear, Kids wear, and Accessories.
Speaking about the domestic garment industry, Mr. Rajesh Masand, President, Clothing Manufacturers Association of India (CMAI), said, “The revival of the apparel industry post-pandemic has been less than robust, with retailers contending with a substantial backlog of inventory. The predominant driver of retail sales growth of apparels in the past year has been the result of both stores and network expansions. Although it is difficult to estimate the business conducted during the Fair, our interaction with the Exhibitors indicated most of them were more than satisfied with the enquires/orders received, serving as a positive indicator of the industry’s gradual progress towards normalisation in H1FY2025.”
Speaking about the NGF 2023, Mr. Rohit Munjal, Vice President and Chairman of the Fair Committee, Clothing Manufacturers Association of India (CMAI) said, “The success of the 78th National Garment Fair stands as a promising indication of its significance. Distinguished retailers and distributors from across the country graced NGF 2024. The sustained vitality of NGF can be credited to the steadfast support and proactive engagement of both brands and retailers. Their persistent involvement has played a pivotal role in elevating the fair’s influence and ensuring its ongoing success.”
Speaking about the present outlook of the domestic garment industry, Mr. Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), said, “The notable expansion of major retailers and brands into Tier 2 and 3 markets in the past year has played a substantial role in driving the retail sales growth within the apparel segment. Anticipating a shift from the initial trend of consumer “revenge-shopping” immediately post-pandemic, we saw a transition to a restrained shopping behavior last year. This year, there is an anticipation of consumers refreshing their wardrobes, signaling a return to normalcy in shopping patterns.”
Furthermore, the prestigious CMAI Apparel magazine was relaunched during NGF 2024 with a far Special edition. The Apparel magazine is not only resuming publication but is undergoing a significant upgrade as a quarterly edition, which will provide more exclusive content, in-depth features, and exciting apparel trends. The new avatar of the magazine boasts of careful curation and enhancement of content, promising a better reading experience with fresh perspectives from industry experts, insightful interviews, and stunning visuals. This transition aims to celebrate the world of apparel with captivating stories.
Recognised as the largest and most awaited bi-annual trade fair of the Indian Apparel Industry, the National Garment Fair by CMAI serves as a vital platform for connecting National and Regional Brands, Manufacturers, Designers, and Fashion Accessories manufacturers with Retailers, Agents, Distributors, and E-commerce Companies. This biannual event holds significant prestige in the industry and is widely regarded as India’s foremost trade fair, offering a comprehensive sourcing platform that maximizes both time and cost efficiency for all stakeholders involved.
2, Feb 2024
Reaction to Interim Budget 2024-25 from Kamal Khetan, Chairman & Managing Director, Sunteck Realty Ltd
“The interim budget announcement envisions India’s long term growth story. The emphasis of the PMAY-Gramin on rural India will further the objective of Housing for all. Furthermore, we are looking forward to housing scheme for the urban middle class, which is anticipated to enhance housing and give a boost to the sector.
The sustained momentum in capital expenditure spending in expansion of the infrastructure development plan highlights the intent to continuously enhance housing infrastructure, entrepreneurship, and employment opportunities for the youth possessing technical skills.
The persistent emphasis on maintaining a capital expenditure outlay of approximately 3.4% of the GDP is likely to stimulate economic activity and align with the long-term vision of Viksit Bharat. We remain optimistic about the continued progress of the Indian economy under the prudent fiscal measures outlined in the Interim Union Budget.”
2, Feb 2024
CMAI Welcomes Continuation Of RoSCTL Scheme
CMAI welcomed the decision by the Union Cabinet to extend the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for export of Apparel/Garments and Made ups upto 31st March 2026.
CMAI President, Rajesh Masand, thanked the Government and in particular, the Ministry Of Textiles saying that the “Continuation of Scheme for proposed duration of two (2) years will provide predictability and stability which is essential for long term trade planning, more so in the textiles sector where orders can be placed in advance for long term delivery.”
“The RoSCTL Scheme is in line with the universally accepted principle of International Trade that taxes and duties should not be exported, to enable a level playing field in the international market for exports” he added.
2, Feb 2024
Akshayakalpa Organic and Innovative Chess Academy Hosts Grand Chess Tournament in Bengaluru
Bangalore, 2nd February 2024: Akshayakalpa Organic, a champion of organic farming and sustainability, collaborated with the Innovative Chess Academy (ICA) to present a spectacular chess tournament between January 26th to 28th, 2024. The highly anticipated event took place at the esteemed Silicon City Academy Of Secondary Education in Bengaluru, providing a dynamic platform for chess enthusiasts to showcase their strategic prowess.
This thrilling tournament, utilizing the Swiss method of play with 9 intense rounds, brought together more than 700 participants over three action-packed days. The collaboration between Akshayakalpa Organic and ICA underscores their shared commitment to fostering intellectual sports and promoting the growth of chess within the community.
Shashi Kumar, Co-founder and CEO of Akshayakalpa Organic brings a unique passion to the tournament as an active chess player himself. Shashi Kumar, who has been supporting the game for over a decade, expressed his excitement, saying, “Chess has been a source of inspiration and growth for me personally. As an avid player, I understand the mental acuity and strategic thinking it requires. This tournament is not just a competition; it’s a celebration of the chess community’s spirit, where players learn, compete, and evolve together.”
Shashi Kumar emphasized the significance of the collaboration with ICA, stating, “Our partnership with Innovative Chess Academy is rooted in a shared vision of making chess accessible to all. We believe in the power of chess to instill critical thinking skills, enhance concentration, and foster a sense of community. By joining forces, Akshayakalpa and ICA aim to create an inclusive environment where individuals from all walks of life can engage with and enjoy the game of chess.”
The tournament, held at the Silicon City Academy Of Secondary Education, not only featured intense competition but also provided a conducive environment for learning and camaraderie among participants. With a total prize pool of 5 Lakh rupees, this event was a landmark occasion for the chess community in Bengaluru.
In addition to the substantial cash prizes, participants had the golden opportunity to secure a coveted spot in the Chess National Tournament scheduled to take place in Jaipur.
This tournament not only serves as a showcase for the strategic brilliance of local chess enthusiasts but also as a stepping stone for players to advance to national-level competitions. Akshayakalpa Organic and Innovative Chess Academy is proud to contribute to the growth of chess in Bengaluru and beyond.
2, Feb 2024
Felicitation Ceremony for Republic Day 2024 …
India Hyderabad 02 February 2024: Andhra Pradesh and Telangana NCC Directorate shines at the Republic Day Camp 2024. The month-long Republic Day Camp 2024 was conducted at Cariappa Parade Ground in Delhi Cantt wef 01 Jan to 29 Jan 2024.
In a remarkable display of excellence, the contingent of 128 cadets of AP&T NCC Directorate showcased their prowess at the RDC Camp 2024 and won several accolades. Junior Division Cadets SGT M. Srisanth and Cdt N. Dheeraj have clinched the prestigious titles of All India Best Cadet in Army and Navy, respectively. And they were the proud recipients of the Best Cadet trophy and cane awarded by Hon’ble Prime Minister Sri Narendra Modi during Republic Day Parade. Cadets Sk Rehana, SUO S Chittesh Rao and Cpl G Lohith have won Gold Medals in different categories of equestrian events.
In addition, cadet SUO Akanksha Bhosle has stood second in Best Cadet Army Senior Wing category. Cadet Mahi Baldev has won DGNCC Commendation Card for her excellent performance during various VIP visits and centrally organized functions during RDC. Additionally, 15 spirited Senior Wing Cadets from the Directorate have proudly marched along Karthavyapath, symbolizing their unwavering commitment to the nation and its foundational values on Republic Day 2024. The Directorate further distinguished itself by securing the first place in the group song competition and third position in the National Integration Awareness Programme.
As part of their enriching experience during the camp, the cadets have been on ‘at home’ visits to esteemed dignitaries, including the President, Prime Minister, Chief of Army Staff, Chief of Naval Staff and Chief of Air Staff, Director General – NCC, and a Dinner with the Defence Minister. These interactions not only offered a glimpse into the dignitaries’ lives but also provided invaluable insights into diverse activities and the nuances of leadership within the defense establishment. Andhra Pradesh and Telangana NCC Directorate takes pride in its cadets’ exemplary performance and contributions to the success of Republic Day celebrations. Their achievements reflect a commitment to excellence, discipline, and the values that form the bedrock of our great nation.
Air Commodore VM Reddy, Dy Director General of AP & T Dte has felicitated the medal winners and the contingent during the ceremony held at NCC Directorate, Secunderabad.
