BTEA and Connections Luxury Unite for a Spectacular Showcase of Bahrain’s Luxurious Wonders

India, 28th October 2023 – Bahrain Tourism and Exhibitions Authority (BTEA) and Connections Luxury announced its partnership aimed at showcasing the kingdom’s premier luxury products to a select international audience of elite luxury buyers. This collaboration delivered exclusive experiences, establishing significant connections between elite travelers and the Middle East’s jewel, Bahrain. The prestigious event, “Connections Luxury Bahrain,” took place from October 15th to 18th, 2023, and has already made an extensive impact in the world of luxury travel.

The primary objective of this partnership between Bahrain Tourism and Exhibitions Authority (BTEA) and Connections Luxury is to significantly profile and position Bahrain as a leading tourism destination among prominent global tour operators. This outcome represents a key milestone in promoting Bahrain as a go-to luxury destination in the Middle East. The event brought together an elite gathering of exceptional international tour operators and representatives from the global luxury tourism sector and destination management companies. Over a span of three days, participants were granted an exclusive opportunity to discover the diverse attractions offered by Bahrain, laying the foundation for the kingdom to shine on the global stage.

The event garnered immense acclaim and feedback from participants, emphasizing the kingdom’s prominence in the realm of luxury travel. Participants at “Connections Luxury Bahrain” were offered a plethora of experiences that captured the essence of Bahrain’s luxury offerings. Among these, spa treatments at luxurious hotels proved to be a highlight for many. One participant remarked, “They had an amazing experience, with offerings from the hotel, such as spa treatments, which were incredibly relaxing. The experience was truly enjoyable.”

The adventurous had the chance to hold a falcon, which, although petrifying, left an indelible mark, and the calligraphy session where participants had their names written in Arabic, providing a unique and personalized memento. A leisurely walk around the resort added to the overall charm. As one participant summed it up, “This was a nice experience, and now I can go back to the UK and passionately sell the products.”

Another participant highlighted the diversity of experiences, stating, “So far, I have taken part in two experiences. One involved trying on an outfit with a helmet at Bahrain Circuit, and the other was off-roading. These experiences not only showcased Bahrain International Circuit but also shed light on the kind of adventures that await in Bahrain.”

In a statement, Dr. Nasser Ali Qaedi, CEO, Bahrain Tourism and Exhibitions Authority (BTEA), said, “Bahrain has always been a hidden gem in the world of luxury travel, and “Connections Luxury Bahrain” amplifies the charms of our destination. The event’s resounding success further solidifies Bahrain’s position as a premier luxury destination in the Middle East. It stands as a testament to our commitment to showcasing Bahrain’s unparalleled offerings to the world and elevating its position in the luxury travel industry.”

The “Connections Luxury Bahrain” event drew in attendees from across the globe, creating a diverse and dynamic atmosphere. Guests had the chance to partake in exclusive tours, experiences, and one-on-one meetings with key stakeholders in Bahrain’s luxury industry. The occasion celebrated the essence of Bahrain’s unique blend of history, culture, and modern luxury.

Sensorise Announces India’s Only Travel eSIM for Global Connectivity

Mumbai, October 28, 2023: Sensorise, India’s leading M2M service provider, today announces India’s only existing consumer travel eSIM. This eSIM is targeted at corporate travellers, leisure travellers, students and provides a cost-competitive alternative to traditional telecom international roaming solutions. This eSIM will be available in over 190 countries, via the Sensorise mobile App.

The Sensorise Travel eSIM eliminates the need for traditional physical SIM cards, costly operator roaming charges, and the hassle of hunting for public Wi-Fi networks in foreign countries. With this cutting-edge solution, travellers can effortlessly access mobile data and enjoy significant cost savings. Sensorise travel eSIM is designed to empower users with an integrated system that not only provides connectivity but also offers comprehensive tools for monitoring, controlling, protecting, and enhancing their digital lives, ensuring data privacy and identity security.

Hon’ble Minister appreciated the novel solution by Sensorise for millions of Indian travellers.

Mr. Karn Nagpal, President, Rosmerta Technologies said, “We are thrilled to announce our eSIM solution at Asia’s biggest telecom event- India Mobile Congress 2023, in presence of Hon’ble Minister Shri Ashwini Vaishnav. This innovation represents a significant leap forward in global travel connectivity for Indians. The eSIM solution is not only a testament to our technical solutions, but also a reflection of our commitment to creating solutions that simplify and enhance the lives of individuals. We envision a future where seamless connectivity is a fundamental part of every traveller’s journey.”

An eSIM is a digital SIM card that allows users to subscribe to data and internet packages without the need for a physical SIM card replacement and provides an option for customisable plans, country-wise or region-wise. Using Sensorise Travel eSIM is as simple as scanning a QR code, enabling instant connectivity for compatible devices. These eSIM data plans will be available for use in over 190 countries worldwide, boasting the most extensive coverage for eSIM data plans globally.

Qdesq secures investment from Gruhas

After JLL, Qdesq bags funding from Gruhas, a VC with focused investments in PropTech Consumer and ClimateTech. Qdesq owns and operates India’s largest and fastest-growing flexible workspace marketplace and brokerage platform (Qdesq.com). Along with Qdesq, the company is building an enterprise SaaS platform called Qudify, which upgrades and digitises enterprises and workspaces with QR-based visitor management, meeting rooms and complaint management system.

Qdesq marketplace has 4300 centres listed on its platform, with market coverage of 100 cities in India. Their monthly run rate is 6500 desk bookings, providing clients with coworking, private offices, and on-demand workspaces like meeting rooms, virtual offices and day passes.

Qudify SaaS started in September 2022, has 125+ clients empowering 2,00,000 interactions of enterprise employees and visitors and aims to grow 3x Year-on-Year.

Paaras S Arora, Founder CEO at Qdesq says, “We are encouraged and excited to have been backed by Gruhas. It is our second investment from a venture capital firm after JLL Spark. This investment will enable us to enhance our overall team strength and capability, thus fuelling growth and scale in both businesses.

Abhijeet Pai, Co-Founder Gruhas, said, “Co-working and managed offices have seen a surge in demand post the pandemic. Qdesq has been at the forefront of this transformation by leading the charge with its nationwide network. Flexible and ready-to-move workspaces have become a way of life for corporates, small businesses, and startups alike. Qdesq has been an opportune enabler for businesses and entrepreneurship by offering marketplace as well as software solutions for the ecosystem, and is positioned to be a market leader shaping the future of work”

This funding round marks a significant milestone in Qdesq’s journey and validates investors’ confidence in the company’s vision and potential for growth. Qdesq is proud to have the support of a diverse group of investors who believe in its mission to create the most compelling, loved and efficient platform powered by technology and people to provide workspaces and tech solutions to corporates and enterprises.

Ujjivan Small Finance Bank announces its Q2 FY24 results

Bengaluru, Friday 28 October, 2023: Ujjivan Small Finance Bank ltd. [BSE: 542904; NSE: UJJIVANSFB], today announced its financial performance for the quarter ended and half year ended September 30, 2023

Summary of Ujjivan Small Finance Bank Business Performance – Q2FY24 and H1FY24

• Assets
• Disbursements were at ₹ 5,749 crore/ ₹ 11,033 crore in Q2FY24/H1FY24 up 18%/20% Y-o-Y
• Affordable Housing$ disbursed ₹ 541 crore/ ₹ 959 crore in Q2FY24/H1FY24 up 69%/58% Y-o-Y
• Gross loan book at ₹26,574* crore up 27%/5% Y-o-Y/Q-o-Q
• Collection and Asset Quality
• Continued traction on Collections with ~99% efficiency in Sep’23; NDA collection consistently at ~100%
• Portfolio at risk* at 3.7% as of Sep’23
• GNPA* declined to 2.2% as of Sep’23 vs 2.4% as of Jun’23; NNPA* continues to be negligible at 0.09% as on Sep’23
• Total of ₹ 56 crore written-off in Q2FY24; Provision coverage ratio as on Sep’23 is 96%#
• Deposits
• Deposits at ₹29,139 crore as of Sep’23 up by 43%/9% Y-o-Y/Q-o-Q
• Retail TD^ grew 56%/8% Y-o-Y/Q-o-Q
• CASA grew 28%/7% Y-o-Y/Q-o-Q; CASA ratio at 24.1% as on Sep’23
• Nationwide brand campaign and launch of value-add products yielding results
• Financials
• Q2FY24 NII of ₹823 crores up 24% Y-o-Y; NIM at 8.8%* for Q2FY24
• Cost to Income ratio at 52.2% in Q2FY24 vs 52.5% for Q2FY23
• Q2FY24 PPoP at ₹483 crore up 26% Y-o-Y; PAT of ₹328 crore up 11% Y-o-Y
• Capital and Liquidity
• Capital adequacy ratio at 25.2% with Tier-1 capital at 22.5%
• Provisional LCR at 158% as on 30 Sep’23

Mr. Ittira Davis, MD & CEO, Ujjivan Small Finance Bank said, “Q2FY24 was yet another impressive quarter in terms of business performance. Business momentum continued its strong uptrend as seen in the previous quarters. Disbursements at ₹ 5,749 crore was strong registering a robust growth of 18% Y-o-Y and 9% Q-o-Q. Our secured book in Affordable Housing and FIG continues their strong performance. Further, our newer offerings like Gold loans and two-wheeler loans targeted to meet growing needs of our customer base is enhancing our product suite and will consequently aid growth. To provide further impetus to growth and brand awareness, we have introduced several initiatives during the quarter such as, launch of nation-wide brand campaign and value-add liability products targeting to enhance and deepen brand recall among our existing and potential stakeholders. Further we have also opened 39 new branches, taking our total branch count to 700. In H2 we will be adding ~45 more branches, this will include splitting of few branches to better manage the volumes. All these efforts have resulted in healthy growth of liabilities for our Bank. Our CASA has crossed ₹ 7,000 crore mark, growing by 28% Y-o-Y and 7% Q-o-Q. Further, our Retail TDs + CASA grew 44% Y-o-Y to ₹ 18,818 crore. Q2FY24 was yet another quarter where we marked ₹300 crore+ PAT. This was supported by our healthy NII growing by 24% Y-o-Y and 4% Q-o-Q. However, Cost of funds remained elevated in the current quarter as well, leading to NIM compression of 43 bps vs last quarter. We continue to stick to our guidance on loan and deposit book growth. Further we are also confident to maintain credit cost below 100 bps. Our strong focus on other initiatives such as ‘Hello Ujjivan’ is gaining acceptance among customers with 4.3 Lakhs downloads till date and total repayments of more than ₹ 40 crore in Q2FY24. ‘Digital FDs’ which was recently launched is also expected to bring business in the upcoming quarters.

On merger with our promoter, as per order received from the Hon’ble NCLT, shareholder’s EGM is being convened on 3rd Nov’23 by the Bank as well as Ujjivan Financial Services. Once the merger is approved by the shareholders of both the companies, we will proceed with the remaining procedural and regulatory aspects. We expect the merger to be completed in Q4FY24.”

BOP Realty Private Limited Introduces BOP Gold – Exquisite Real Estate for Discerning HNI Customers

New Delhi: BOP Realty Private Limited, one of India’s leading real estate consultancy players, has unveiled its latest venture, “BOP Gold” in Delhi & Noida. Tailored exclusively for High Net Worth Individuals (HNIs), BOP Gold offers a unique and premium real estate experience, backed by over 16 years of industry expertise.

With a remarkable track record of serving alongside major real estate players such as DLF, Jaypee, and Gaurs, BOP Gold brings a wealth of knowledge and experience to the table. The company takes pride in presenting a distinguished lineup of premium projects that include Gaur World Smart Street, Gaur Island, Gaur Trecento Residences, GOLDEN – I in Greater Noida, and Sawasdee in Delhi. Each of these projects is carefully curated to offer HNI customers an environment that aligns with their unique aspirations.

BOP Gold stands out with its distinct advantages, including exclusive opportunities for investors and end users. The company collaborates with Grade A Developers from India and Dubai to bring the finest projects to HNI clients. A 24/7 dedicated concierge help desk ensures that clients receive top-notch support at all times. Due diligence is at the core of BOP Gold’s operations, and clients can access exclusive pre-launch opportunities designed for exceptional capital appreciation. The company boasts a highly skilled and experienced Real Estate Portfolio Management Team, guiding clients through every step of the buying journey. The core team members responsible for the development of BOP Gold include Gaurav Mavi, Ankush kadyan, Manik Anand, Saurav, Sachin and Prince Mavi.

BOP Gold commenced in August 2023, offering HNI customers an exceptional opportunity to explore these premium projects. The venture is accessible in the digital space, and it is physically based out in Sector 136 of Noida Expressway. For those interested in learning more about BOP Gold and its premium offerings, a 24/7 dedicated helpline number(+91 9167656565). Additionally, the BOP Gold team can be reached on WhatsApp and phone at any time of the day, ensuring seamless and prompt support.

Mr. Gaurav Mavi, Co-founder of BOP Group, expressed his commitment to the future: “BOP Gold is more than just a venture; it’s our vision for the future of real estate. We are dedicated to setting new standards of excellence and innovation. By aligning with government initiatives and prioritising the needs of our customers, we aim to create a unique real estate experience that resonates with the aspirations of HNI investors.”

As for the long-term vision, BOP Gold aims to set new standards of excellence and innovation in the real estate sector. The venture aligns perfectly with the government’s planned and smart city initiatives, making it a strategic choice for HNI investors seeking a promising future.

Announcing the Culinary Maestro, Shivaramakrishna.J, as the new Executive Chef of Novotel Vijayawada Varun

Novotel Vijayawada Varun is proud to unveil a new chapter in its culinary journey with the appointment of Mr. Shivaramakrishna.J as its Executive Chef. This appointment marks a significant milestone as the hotel continues its pursuit of excellence and culinary innovation.

Mr. Shivaramakrishna.J is a renowned culinary artist with a long history in the world of gastronomy. His gourmet path demonstrates his dedication and passion for the art of cooking, as well as his innovative and proactive attitude, which distinguishes him as a true culinary visionary.

On this appointment, Sudharshan Motupalle , General Manager, Novotel Vijayawada Varun expresses his joy and says, “We are delighted to welcome Chef Shivaramakrishna to our team. He brings with him a wealth of experience and creativity that will elevate our culinary standards and delight our guests. He has worked in some of the finest restaurants in the world, and we are honored to have him join us. He will be responsible for overseeing all aspects of our kitchen operations, from menu development to staff training. We look forward to working with him and learning from his expertise”.

As the Executive Chef at Novotel Vijayawada Varun, Shivaramakrishna.J will lead the culinary team towards new horizons. His presence promises a dynamic shift in the dining experience, introducing fresh flavors and culinary innovations, ensuring that Novotel Vijayawada Varun remains a culinary destination of choice. Prior to his appointment Shivaramakrishna.J is known for his commitment to maintaining the highest culinary standards and have worked in hospitality brands such Taj Exotica Resorts & Spa, Havelock, Andaman,Vivanta by Taj, Hyderabad,Taj Club House, Chennai, Taj Connemara, Chennai.

Novotel Vijayawada Varun, located in the heart of Vijayawada, is a symbol of luxury and comfort. Offering world-class amenities, fine dining, and top-notch services extends a warm welcome to Mr. Shivaramakrishna.J as he embarks on this exciting culinary journey.

Times Prime and Park+ Partner to Offer Rs 300 Worth of Petrol at IOCL Petrol Pumps

New Delhi, 28th October — In another strategic collaboration aimed at delivering exceptional value to its members, Times Prime, India’s premium lifestyle membership platform, has partnered with Park+, the innovative car parking solution provider. Times Prime members are slated a special discount code in the app to avail a petrol discount, giving away ₹300 worth of petrol at Indian Oil Corporation Limited (IOCL) petrol pumps across the country.

The initiative is a response to the growing need for cost-effective travel solutions, and it is expected to make a significant impact on the daily commute of numerous Indians. Speaking about the partnership, Harshita Singh, the Business Head and Founder of Times Prime, stated, “This collaboration with Park+ is a solid step towards enhancing the daily commute of our members. It is a reflection of our commitment to providing diverse and substantial benefits to our users. We are empowering them with savings on essential services, and we are confident that this initiative will enrich their Times Prime experience.”

Commenting on the partnership, Amit Lakhotia, Founder & CEO, Park+, said “Park+ has been making conscious efforts to partner with like-minded organizations to enhance car ownership experiences for users. As part of this strategy, we are excited to collaborate with Times Prime to unlock Park+ Petrol for new Times Prime subscribers. By downloading the Park+ app, users can discover exciting brand offers, play Park+ Petrol League, engage with India’s largest community of car owners- one crore strong.We look forward to this partnership and are confident of delighting Times Prime users with our in-app experiences.”

Techurate’s Products and Services are designed to offer price and scalability to cooperative banks in India

 Authored by: Sendhil Kumar Co-founder & COO – Techurate

• As the COO at Techurate Systems, how have you ensured successful market penetration in India across various sectors,ranging from small-sized banks to larger institutions?
Techurate as an Enterprise specializing in Digital banking Solutions has traditionally been a Middle East & Africa-centric  Operation. Late in 2021, we partnered with Modus Systems,a partner to Finacle for CBS Implementation in going live with our first Cooperative Bank in Nagpur (NagpurNagrikSahakariBank) .This gave us an insight in to the vast opportunity in the cooperative banking segment in India. The need for these banks to go digital was very high and needed a service provider to work with them in a consultative mode on a sustainable price point model. The Expansion of Techurate in India hinges on riding a long with Value Partners who are deeply entrenched in this segment.These are corporates engaged in CBS and Managed Network services to these banks. Together we present the most credible option to these customers for a winning Digital transformation program.

• Could you elaborate on the specific strategies and initiatives that Techurate Systems has employed to effectively cater to the diverse needs of small-sized banks and larger financial institutions?

For the Smaller Banks and Financial Institutions, our Product strategy is twofold.
We have curated a low-cost version of our flagship product Tigiverse, called Tigiverse Lite. This is disruptive on both price and
deployment. A subscription-based service rolled in as a Bank – in – a – Box. Zero Capital expenditure to the bank where in they get a fully RBI compliant Mobile & Internet Banking platform with some degree of customization. It’s pertinent to note that we are probably the fewest of Enterprises that have a fully time-tested, RBI-compliant Core and a digital banking stack on the Tap to such customers. It’s the product diversity at an affordable price which wins the customer for us.
The goto market is the fastest since there is no local data center / Infrastructure requirement for the bank to procure. Services on the go.
To a greenfield bank, we offer the complete core and digital set-up in a few weeks of deployment time which makes the tipping difference.

• How has Techurate Systems adapted its products and solutions to meet the unique requirements of different sectors withinthe Indian market? Can you provide some examples of successful implementations?

Techurate’s Products and Services a redesigned to offer price and scalability to the cooperative banks in India. It is custom-built for a green field bank or a bank wanting to upgrade, a complete product suite of Core + Digital that covers the spread of CBS along with Mobile and Internet banking. In short, as a product strategy we target the bigger cooperative banks with our Flagship Tigiverse platform which presents a high score on the price–value equation to these customers. For the Tier 2, 3, and Rural banks, we offer the Tigiverse Lite, the low-cost version of Core + Digital solutions on a SaaS pricing. This offers the best services at No Capex load to the Target Market.

• What challenges did Techurate Systems encounter while expanding its services to larger banks, and how did you overcome them to establish a strong presence in the sector?

Techurate is fortunate to have started its Digital Banking journey in 2015 when most Medium and Large banks were adopting Digital around the same time. It’s our inherent belief that the cycle of Digital began with the first stages of Digitization, moving on to the Digital Transformation phase and culminating in the Digital Reinvention phase which will hit us in a few years.Since we had a prime mover advantage, we could start with Large banks in Africa early in our journey. The credibility and the legacy that we built in the first few years helped us in adding more customers to the stable. The Banking solutions space is a very word-of-mouth-driven Business. It’s a domino effect. One good customer reference leads to more. We simply focussed on creating happy customers in the first 3 years. This foundation helped us to scale up faster in the next phase

• In terms of market penetration, what are some key lessons you have learned from working with small-sized banks that have helped Techurate Systems successfully navigate the transition to larger-scale institutions?

Our Market penetration cycle was Inverse. We started with Larger banks and then moved to the smaller ones in India banking on the learnings and the enhanced product stability. This helped us in having the bandwidth both in terms of experience and Financial resources to curate the right price point for smaller banks.ThekeyconsiderationforservicingsmallerbanksisthebepreparedforaHockeystickrevenuecurve.This needs depth and a long-term view to build this segment.Our India entry is by design late to give us that edge in building the cooperative segment the rein a sustainable manner.It’slikethetimeIKEAtook to enter India. A late entrant, but now a formidable force in affordable gear.

• How does Techurate Systems plan to further expand its market share in the Indian banking sector? Can you outline any upcoming strategies or initiatives aimed at capturing new opportunities and sustaining growth?
Our India plan has a sharp focus on the cooperative banking sector. Our GTM plan is based on value partnerships to present a credible face to these prospects. We are extremely confident in the strength of our products. We have an 11-year history of servicing Financial Institutions in India with more than 350 institutions including leading cooperative banks that have used our services. More than a Million end customers use our products via this Institution. Against the backdrop of this strength, we plan to aggressively push ourselves into the semi-urban and even the rural sectors via the RRBs. Financial Inclusion for India on an accelerated mode is our endeavor.Ultimately, leveraging the diversity of our product platform
to bring in affordable banking services thus Transforming lives is our mission. We are steadfast on this and we intend to make this happen sustainably.