27, Oct 2023
Edureka partners with PwC to offer course in ‘Applied Business Intelligence for Decision Making
CHENNAI, 27th October 2023: Edureka has partnered with PwC to present a cutting-edge course in Applied Business Intelligence for Decision Making. This meticulously designed course created by PwC is set to empower individuals with the skills and knowledge needed to make informed decisions and drive business success.
In today’s fast-paced business environment, data-driven decision-making is a crucial skill. The course in Applied Business Intelligence for Decision Making equips learners with the tools and techniques to harness the power of data for strategic decision-making. Through this comprehensive programme, learners will gain hands-on experience in creating robust reports and interactive dashboards using Power BI, a leading business intelligence tool.
Upon completion of the programme, learners will receive an industry-recognized certificate from PwC and Edureka. Furthermore, they will have the opportunity to join a global community of learners.
What sets this course apart is its real-world relevance. Guided by practical business scenarios, learners will dive deep into Power BI’s features — understanding how to apply them to solve real industry challenges. The course focuses on mastering best practices and project dynamics, ensuring that learners are well-prepared to tackle complex business problems with industry-standard solutions.
“We are excited to collaborate with PwC to bring this cutting-edge course to our learners. The Applied Business Intelligence for Decision-Making course aligns perfectly with our commitment to providing industry-relevant and practical learning experiences. We believe this course will empower individuals to excel in the dynamic field of business intelligence,” said Vineet Chaturvedi, CEO of Edureka.
The key highlights of the course are as follows:
Visual storytelling: Learn to create visually compelling narratives that effectively communicate insights derived from data.
Power BI connectivity: Explore multiple Power BI connectivity modes to work seamlessly with diverse data sources, enhancing decision-making capabilities.
Important and critical Features of Power BI: Unlock the potential of Power BI through a deep dive into its crucial features.
Working with Power BI Service and Server: Effortlessly navigate the realm of Power BI Service and Server for seamless data management.
Advanced Analytics with Power BI: Elevate your data analysis game with advanced analytics using Power BI’s cutting-edge tools.
Industry insights: Benefit from PwC’s expertise and gain valuable industry insights that can be directly applied to your professional journey.
By the end of the course, learners will be able to make data-driven decisions confidently and contribute to their organization’s success in meaningful ways. This course is ideal for professionals seeking to enhance their decision-making skills, business analysts, data enthusiasts, and anyone looking to stay competitive in today’s data-centric business landscape.
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- By Rabindra
27, Oct 2023
getAbstract Announces Final Winners for Its 2023 International Book Award Business Impact and Learning Impact Categories
LUCERNE, Switzerland, October 27, 2023 – getAbstract, the world’s go-to platform for actionable knowledge and microlearning, recognizes titles that offer significant insights for people leaders in the L&D space with its ‘Learning Impact’ category and titles that provide business leaders and entrepreneurs with actionable knowledge in areas like leadership, technology, career, and more with its ‘Business Impact’ category.
The Business Impact Award winner is “More than a Glitch” by Meredith Broussard (MIT Press, 2023).
What the jury says: “An eye-opening, focused book in times of disruption through AI and the ever-increasing power of technology. Meredith Broussard makes us aware of the Race, Gender, and Ability bias that underlies every technology and illustrates her findings with many case studies. Outstanding.“ (Laura Lesum, Jury Member)
The Business Impact Readers’ Choice Award winner is “Living a Committed Life” by Lynne Twist (Berrett-Koehler, 2022)
What the jury says: “Lynne Twist survived self-doubt and sadness by adding meaning to her life. She set out with a huge goal – to end world hunger – and became a transformative example of what one individual driven by passion and commitment can accomplish. Your purpose can give your life context, Twist promises, and then she demonstrates how she fulfilled that promise.” (Erica Rauzin, Jury Member)
The Learning Impact Award winner is “The Psychological Safety Playbook” by Minette Norman & Karolin Helbig (Karolin Helbig, 2023)
What the jury says: “A crucial attribute of high-performing teams is whether its members feel engaged, seen, heard and trusted. The authors present an actionable playbook for team leaders so they can confidently and methodically implement critical behaviors that empower their team to achieve at the highest level.” (Brandon Carson, Jury Member)
The Learning Impact Readers’ Choice Award winner is “Coachability” by Kevin Wilde (Kevin Wilde, 2022).
What the jury says: “The people best positioned to give managers feedback are their employees. Yet many bosses are too arrogant or too proud to solicit feedback from their underlings. If you are the long-suffering employee of an overconfident, arrogant boss, you might consider anonymously leaving a copy of Coachability on your manager’s desk.” (Deirdre Cody, Jury Member)
Business Impact winners were announced on October 19, 2023, at the joint award ceremony with getAbstract’s media partner brand eins on the occasion of the Frankfurt Book Fair in Frankfurt am Main, Germany. Learning Impact winners were announced on October 25, 2023, at DevLearn in Las Vegas, USA.
27, Oct 2023
Nafs presents Qalb at Aza, Hyderabad
Hyderabad, October 27th, 2023: In the ethereal realm of fashion, Nafs by Rizwan & Shamsz proudly presented “Qalb” an enchanting collection that intricately weaves together the magnificence of Mughal and Middle Eastern architecture with contemporary finesse. Neeru Mohan, Mrs India 2020, celebrity makeover artist & hairstylist, Labelina De Salon; hosted the Qalb exhibition at Aza House, Banjara Hills, today. Qalb, meaning heart, embodies the essence of timeless elegance and resonates with the richness of bygone opulence while embracing the spirit of a new tomorrow.
Speaking on the occasion Rizwan said, me and Shamsz, started this label with the objective of catering to men wanting fashionable and apt wear, which is not very boring, is ethnic but still has a contemporary and modern touch to it. Our designs are very sexy, and modern, with a little bit of cheeriness, where in people can flaunt their style while staying true to their roots.
The inspiration behind Qalb is more of Mughal and Middle Eastern architecture, it has certain traditional work, like we gave a modern twist to zardozi, abstract rose, the mirror work is basic machine embroidery with zari work, but still it has a more modern touch to it, for the men of today.
These designs are for the festivities like Diwali, the response for our offerings is amazing in Mumbai. In Hyderabad we are exclusively available at Aza, as Aza is one of the prominent brands in the country, retailing so many young and established fashion designers and one of my favourite go-to brands for any of my fashion requirements and that’s the reason it’s the right fit for our brand.
Drawing inspiration from the mesmerizing lightning that streaks across the sky, the collection adorns diaphanous textiles with delicate metallic embroideries of thread and mirror work. Like clouds gracefully floating above, these embellishments add a touch of shimmer to the garments, symbolizing the perfect union of heaven and earth.
The essence of sheer play is explored through an array of easy ethnic silhouettes, exquisitely crafted for intimate festive soirees. Handspun Chanderi, a testament to age-old craftsmanship, is elevated with hand-dyed shibori textures, creating an artistic fusion of tradition and modernity. Further enhancing the allure, tonal chikankari surface ornamentation graces these exquisite fabrics, offering a sense of heirloom familiarity.
“Each Qalb ensemble echoes with a vintage soul, tenderly cradling the essence of a new era. Embark on this enchanting journey as we unfurl the pages of history, revealing the aspirations of tomorrow. We eagerly await the embrace of the discerning fashion connoisseurs in the ‘City of Pearls”, states duo Rizwan & Shamsz
Time-tested opulence meets the warmth of familiar traditions, creating an emotional connection that transcends generations. This harmonious blend represents the ever-evolving nature of fashion, where the past intertwines gracefully with the future.
Discover the timeless allure of “Qalb” by Nafs, where the heart meets the soul of fashion.
27, Oct 2023
HCLFoundation’s Sports for Change athletes secure Silver at Asia Rugby U18 Sevens Championship 2023
CHENNAI, India, Oct 27, 2023— In a remarkable display of talent and determination, NS Akshaya and V Divya, both hailing from Tamil Nadu, achieved international recognition by representing India at the prestigious Asia Rugby U18 Sevens Championship 2023. Their exceptional performance at this global sporting event earned them a well-deserved silver medal, highlighting the excellence of Indian rugby on the world stage.
Akshaya and Divya’s journey into rugby began with their participation in the transformative Sports for Change initiative, a program under HCLFoundation, which delivers the corporate social responsibility agenda of HCLTech in India. The duo made the transition to rugby from kho-kho under the coaching of Guna Sekaran Kumar, a certified rugby coach. Their performance at national tournaments representing Tamil Nadu between 2021 and 2023 caught the attention of selectors, earning them places among the top 27 rugby players in India.
“Making it to the national team was an exceptional feat and hearing our national anthem play during the award ceremony was a moment I’ll forever hold dear,” said V Divya, who plays as the fly-half for the team and is pursuing Bachelor of Science in Sports Biomechanics and Kinesiology.
“Empowering lives through education, sports and holistic development is not merely our mission, but a steadfast commitment to creating a brighter, more inclusive future. At HCLFoundation, we believe in the transformative power of education and sports to uplift communities and foster sustainable growth. Through innovative initiatives, we strive to address critical social challenges, ensuring that individuals have the tools and opportunities they need to thrive and no one is left behind,” said Dr. Nidhi Pundhir, Vice President, Global CSR, HCLFoundation.
Ahead of the Asia Rugby U18 Sevens Championship 2023, Akshaya and Divya underwent a rigorous 45-day training program at KIIT University, Bhubaneshwar, which helped them earn spots in the national rugby team.
From tailored nutrition plans to logistical assistance on and off the field, HCLFoundation’s holistic approach ensured that Akshaya and Divya had every opportunity to excel.
27, Oct 2023
Hyderabad gets ready to celebrate festivities with Amazon Xperience Arena
Hyderabad, 27th October,2023: Amazon.in announced that Telangana has shown remarkable growth witnessing 2x demand for televisions and an increase of more than 60% in 5G smartphones being sold during the festive period, making it one of the top-performing regions in the TV and Smartphone categories for Amazon India. Fueled by financial schemes such as no-cost EMI, the state is amongst the top regions that continue to see customers opting for premium smartphones and large-screen televisions.
Customers in Hyderabad also got a glimpse of Amazon Great Indian Festival 2023 at the Indian Institute of Technology, Hyderabad with the ‘Amazon Xperience Arena’ (AXA) on 26th October. This one-of-a-kind showcase gave media, influencers and customers a chance to experience their favourite brands and products while participating in fun engagements. Across the seven interactive zones at the event, customers competed to win exciting rewards and a chance to interact with their top brands across categories.
Commenting on the occasion, Ranjit Babu, Director, of Smartphones and Televisions, Amazon India said, “We’re thrilled to introduce the Amazon Xperience Arena to our customers in Hyderabad. The city of Nawabs is amongst the top-performing metros for the Smartphone and Television category. As the people of Telangana continue to shop for their favorite products during the festive season on India’s most preferred, trusted, and loved online marketplace, we’re humbled to see continued growth in the region. With the customer’s inclination increasing towards premium smartphones and televisions, we at Amazon India continue to provide attractive affordability options such as no-cost EMI, bank discounts, Apay rewards, cashback, and exchange offers, along with an array of the best-in-class products from all major brands.”
Here are some trends across Smartphones and television businesses observed on Amazon.in across Telangana and Hyderabad:
Smartphones
- 5G upgrades are on an upward trajectory: In Hyderabad, the share of 5G smartphones grew to over 65% in October 2023 during the festive period (vs 40%+ in 2022)
- Smartphone business experiencing significant growth: Double-digit growth has been witnessed across Hyderabad in the 10-20k smartphones driven by 4G to 5G upgrades
- Premiumization as a trend continues: The above 30k price segments have also seen double-digit growth due to affordability options such as No Cost EMI and Exchange offers
- Brand preference: During the ongoing Amazon Great Indian Festival 2023, top bestseller models across Hyderabad are iPhone 13, OnePlus Nord CE 3 lite 5G, iQOO Z7 Pro 5G, OnePlus 11R 5G, Samsung Galaxy M14 5G and Redmi 12 5G
Televisions
- Telangana has set a new record: In 2023, Telangana emerged as the fastest-growing market on Amazon India in Q3 2023 and consistently ranked #1 with Hyderabad being amongst the top 3 cities for TV sales pan India
- Demand for large screens on the rise: Customers are showing a stronger preference for 4K TVs. There has been a massive growth in the demand for large screens mostly 55 inches & above. QLED and OLED TVs have seen an exceptional growth of over 2x YoY in both Telangana and Hyderabad in 2023. One in three customers benefited from zero-interest EMI options provided on Amazon
- Brand preference: Sony, Samsung, and LG are the most preferred brands among customers in the region
Telangana is a key market and has played a vital role in Amazon’s growth in India. Amazon’s largest corporate building in the world is in Hyderabad, India. The Hyderabad Campus is Amazon’s first owned office building outside of the U.S. Over the years, Amazon has invested in creating a robust physical infrastructure across India and in Telangana. Today, Amazon has six large fulfilment centres and one sortation centre covering more than 1.75 lakh sq. ft. of processing area along with nearly 70 Amazon-owned and Partner Delivery Stations and more than 1800 ‘I Have Space’ stores. Amazon has close to 50,000 sellers from the state selling everything from apparels, sports goods, hosiery items, consumables, and a lot more on Amazon.in. These investments in infrastructure are helping sellers from Telangana deliver to customers from across the country and are also creating employment opportunities across the state.
Recently, Amazon.in announced ‘Extra Happiness Days’ – Co-powered by realme narzo. Customers shall have an opportunity to buy the latest products across categories from top brands with great deals and offers. Amazon Great Indian Festival – ‘Extra Happiness Days’ brings special deals and offers from sellers on the widest selection of Smartphones, Televisions, Gaming components, Large Appliances, Audio, Health and personal care products, Gourmet food, Baby products, and more. Customers will get special offers on a wide range of products from realme, Nvidia, Haier, Pedigree, Ferrero, Hershey’s, Pampers, JBL, and Gillette among others.
Amazon.in, in collaboration with Digit, has also introduced the “Smartphone Genie” product finder (Experience is live only for mobile app users), a new interactive widget aimed to simplify the way consumers make informed smartphone purchase decisions, ensuring they buy the right smartphone tailored to their unique needs. With the Smartphone Genie, finding the perfect phone becomes a breeze, thanks to a streamlined four-step process.
27, Oct 2023
Ahmed bin Saud Al Qasimi inaugurates Ni Met Recycling, marking a milestone in the Emirate’s vision for a circular economy
Ras Al Khaimah, 27 October 2023: Sheikh Ahmed bin Saud Al Qasimi, Chairman of Ras Al Khaimah’s Public Services Department, inaugurated the state-of-the-art stainless-steel and non-ferrous scrap recycling facility Ni Met Recycling.
Present at the ceremony were Anil Shah, Chairman and Managing Director of Ni Met Recycling, Sheikh Mohammed bin Humaid Al Qasimi, RAKEZ Managing Director, and other senior officials from various entities, to witness the opening of the cutting-edge establishment. The facility boasts an investment of around AED 40 million and spans a vast area of 29,900 m2 within RAKEZ’s Al Ghail Industrial Zone.
Ni Met Recycling adopts a comprehensive approach to recycling, covering not only stainless steel but also ancillary metal scraps. With a primary focus on recycling stainless scrap, low and high nickel alloys, chrome, molybdenum, and various other recyclable metals, the company plays a pivotal role in sustainable resource utilisation. Their commitment to environmental responsibility extends to the global market, as the final recycled products find their way to numerous end-users, particularly in regions like India, Europe, and various Southeast Asian countries.
This commitment to sustainability goes hand in hand with Ni Met Recycling’s dedication to contributing significantly to Ras Al Khaimah’s and the UAE’s broader sustainability and environmental goals. The company’s vision aligns with the UAE Net Zero 2050 strategic initiative, emphasising the transition to a circular economy. In doing so, Ni Met Recycling not only benefits the global market but also plays a crucial role in contributing to the UAE’s ambitions for a more sustainable and environmentally conscious future.
Mr Shah stated: “Ras Al Khaimah is witnessing rapid development; in such a short period of time, the Emirate, with the support of RAKEZ, has achieved remarkable progress and prosperity in this region. Ni Met Recycling is proud to be a part of this journey, contributing to the circular economy and aspiring to become one of the largest manufacturers in the region, producing quality products for export worldwide.”
“The decision to establish our recycling facility in Ras Al Khaimah was influenced by various factors, including the availability of large industrial plots and the streamlined support provided by RAKEZ. The efficient processes and timely issue resolution by the economic zone played a pivotal role in the swift establishment of Ni Met Recycling’s operations,” he added.
Ramy Jallad, RAKEZ Group CEO, said: “At RAKEZ, we are committed to fostering growth, innovation and sustainability. Ni Met Recycling’s inauguration in Ras Al Khaimah, coinciding with the UAE’s Year of Sustainability, and its preparations for hosting COP 28, is a clear testament to our shared vision and commitment to a sustainable and prosperous future. The company’s decision to establish its facility here in Ras Al Khaimah underscores the strategic advantages our emirate offers. We are genuinely excited about their long-term prospects and the potential they hold to significantly contribute to the continued growth of our region and its sustainability goals.”
With a vision to bolster the UAE’s green recovery, Ni Met Recycling is planning to expand its recycling capacity and explore the possibility of setting up a melt shop, which would lead to the production of stainless steel in Ras Al Khaimah — an opportunity that has the potential to revolutionise the region’s industrial landscape and contribute to enhancing its sustainability.
27, Oct 2023
HMD Global launches Nokia 105 Classic with Stylish design and UPI payments starting
27th October 2023, Mumbai, India – HMD Global, the home of Nokia phones, today announces an exciting addition to its market-leading feature phone portfolio with the new Nokia 105 Classic. The phone comes with an inbuilt UPI application, combining the trusted reliability of Nokia phones with the convenience and accessibility of UPI, enabling users to securely and seamlessly perform UPI payment transactions even without a smartphone.
Nokia 105 Classic comes with an assured one-year replacement guarantee. Featuring wireless radio, incredible battery life, simplicity and accessible price points, the device offers the reassurance and reliability expected from a Nokia phone.
Ravi Kunwar, VP- India & APAC, HMD Global said “We are excited to launch an exciting upgrade to market-leading feature phone with the new Nokia 105 Classic, more relevant than ever with a stylish new design and the UPI feature. With the feature-packed Nokia 105 Classic, we strive to bridge the digital divide and enable financial access for all.”
Designed to Keep You Connected
Nokia 105 Classic has undergone rigorous durability testing to withstand even the toughest environments, ensuring uninterrupted connectivity no matter the circumstances. The carefully considered spacing between each button on the keymat makes it easy to dial and text, even in the dark.
Enhanced User Experience and Improved Audio
Nokia 105 Classic’s ergonomic design and compact shape are specially moulded to feel great in the hand and easily slip into your pocket when you’re on the go.
Battery for Days
Nokia 105 Classic is equipped with an 800mAh battery, providing extended standby time and allowing for uninterrupted conversations from sunrise to sunset.
Entertainment and Functionality
Nokia 105 Classic comes loaded with features designed to keep users entertained and productive. It offers a wireless FM radio, allowing users to listen to their favourite stations without the need for a headset.
Built to Last
Nokia understands the importance of durability, and each Nokia phone is meticulously tested to ensure it can withstand the challenges of daily use. The Nokia 105 Classic is no exception, built with passion and designed to deliver exceptional performance even in the most demanding situations.
Pricing and Availability
Nokia 105 will be available in India starting today in four variants Single SIM and Dual SIM, with & without charger respectively. The Nokia 105 is available in two colour options, Charcoal and Blue.
27, Oct 2023
Eveready & ZEE join hands for a first-of-its-kind Brand Collaboration
National, 26 October 2023: Eveready, a trusted name in the world of batteries has partnered with ZEE, India’s leading content company to promote its new range of batteries. As part of the brand collaboration, Eveready ULTIMA will feature prominently on ZEE’s popular and homegrown reality shows, including Sa Re Ga Ma Pa, Dance Bangla Dance, Dance Karnataka Dance, and Telugu medium I school. ZEE’s linear channels that are an integral part of the brand association are Zee TV, Zee Sarthak, Zee Tamil, Zee Marathi, Zee Bangla, Zee Kannada, and Zee Telugu.
Eveready ULTIMA will be showcased in reality shows, and the brand’s logo will be integrated into the shows’ set design, graphics, and on-screen promotions. The battery brand has also worked closely with ZEE to create custom content for the shows, such as sponsored segments and product challenges.
Commenting on this announcement, Mr. Anirban Banerjee, Senior Vice President and SBU Head (Batteries and Flashlights), Eveready Industries India Ltd., “We have recently unveiled our new and improved Ultima range of batteries supported by a 360 campaign ‘Khelenge Toh Sikhenge’. The campaign highlights that children in any family can learn valuable life lessons like caring, sharing, love, and equality when playing in daily life with battery-operated toys. Thus to keep the child’s play ongoing effortlessly, our new 400% longer lasting Ultima batteries are just perfect. Our collaboration with ZEE seamlessly aligns with the campaign’s objective and values, as majority of ZEE’s shows are packed with energy, fostering a blend of entertainment while actively nurturing the young talents. Eveready is committed towards its mission to empower the youth with the essential support they require for a brighter and more promising future, and our partnership with ZEE amplifies our ability to achieve this noble endeavour.”
Adding to this, Ms. Niti Kumar, COO – Starcom India said, “At Starcom, we believe that a successful product launch requires a powerful platform that maximises consumer engagement and brand visibility. Such a key communication pillar was vital to drive home Eveready’s new message. ZEE’s reality shows enjoy immense popularity among Indians, which makes it a strong channel for brand collaboration. Accordingly, we forged this first-of-its-kind strategic partnership, which not only introduces Eveready’s robust product offerings but also harnesses ZEE’s expansive reach across diverse regions, languages, and content formats.”
Eveready ULTIMA recently launched its campaign, ‘Kheloge Toh Bahut Kuch Seekhoge’, which highlights the exceptional longevity of Eveready ULTIMA batteries, perfectly suited to power the modern gadgets and appliances that have become an integral part of daily lives.
27, Oct 2023
Federal Bank and Avanti Finance to provide income generation loans
Bengaluru, 27th October 2023: Federal Bank, a leading Indian Bank, and Avanti Finance, a digital financial inclusion platform, have entered into a co-lending partnership to enable hassle-free, affordable credit access to rural un/underserved borrowers. Avanti’s hyper-flexible lending platform and expertise in leveraging a diverse on-ground partner network, combined with Federal Bank’s strong balance sheet and mission alignment, will enable this partnership to serve this segment of borrowers in more than 20 states across the country.
The partnership will enable the development of fit-for-purpose loan products that cater to the specific needs of underserved communities, promoting financial inclusion and supporting livelihood sustainability.
Harsh Dugar, Executive Director, Federal Bank said, “The Avanti partnership blends well with our inclusive banking initiatives, as well as our digital focus. Avanti’s unique business model combining a flexible lending platform with a curated nationwide partner network provides a great opportunity for us to serve customers across the country with small ticket loans that will help them enhance their incomes.”
Rahul Gupta, CEO, Avanti Finance said, “The co-lending partnership with Federal Bank is another big step for us in our mission to serve the credit needs of the next 100 million households in India. Federal Bank, with its strong orientation to digital financial products & commitment to financial inclusion is an ideal partner for us to build a scalable and impactful programme in rural areas. The programme has been launched in Odisha, Maharashtra and Bihar in the pilot phase with ambitious plans of scaling it pan-India and disbursing INR 500 crores annually benefitting over 100,000 households.”
The co-lending partnership between Avanti Finance and Federal Bank represents a significant step forward in financial inclusion in India. It leverages the strengths and expertise of both institutions to create a powerful synergy between a digital financial inclusion platform & a reputed Bank with a strong balance sheet that will make credit more accessible to underserved and unbanked populations. The collaboration will not only transform lives but also contribute to the economic growth and development of the nation.
27, Oct 2023
U GRO Capital Q2 and H1 FY24 results.
New Delhi, October 27, 2023: UGRO Capital, a DataTech NBFC and India’s largest Co-lender in the MSME segment, today announced its robust financial performance for the Second Quarter and Half Year ended 30 September 2023. The Company continued its growth momentum in the second quarter of FY24 with an AUM of INR 7,592 Cr (as of Sep 23), up 74% compared to Sep’22. This surge can be attributed to its strategic investments in distribution channels, expansive lender base, and a data-centric underwriting model, which together ensure consistent monthly disbursals of over INR 500 Cr.
Financially, UGRO Capital highlighted a Total Income of INR 472.0 Cr for H1’24, up 70% YoY, while the figure stood at INR 253.6 Cr for Q2’24, up 63% YoY and 16% QoQ. Furthermore, the PAT for H1’24 scaled up to INR 54.1 Cr, up 329% YoY, and was INR 28.9 Cr for Q2’24, indicating an increase of 448% YoY and 14% QoQ. The robust quarterly performance, alongside the optimal GNPA/NNPA metrics of 1.9%/1.1% on the total AUM, reiterates the sterling quality of UGRO’s portfolio, underscoring a well-structured risk management approach.
UGRO Capital’s distinctive ‘Lending as a Service’ approach combined with the strategic use of co-lending partnerships with off-book AUM accounting for 45% has significantly propelled this growth trajectory. Further solidifying its reputation in the sector, UGRO Capital’s proprietary underwriting model, GRO Score 3.0, has demonstrated its efficacy. This strategic model, along with collaborations with over 10 co-lending partners, 60 lenders, 45 fintechs, and 500 GRO partners, facilitates data-driven, tailored financial solutions for more than 59,000 MSMEs across India.
Brief Financial Snapshot
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Commenting on the results, Mr. Shachindra Nath, Vice Chairman and Managing Director of UGRO Capital said, “At UGRO Capital, we are committed to boosting India’s economic growth through the empowerment of small businesses. We envision building a large institution dedicated to small business financing, and this vision is closer to reality now more than ever. We have set ambitious goals for FY24, and through innovative financial strategies, dynamic collaborations, and our unwavering commitment to foster sustainable entrepreneurship, we’re strategically poised to meet these targets. As UGRO Capital strides towards enduring growth, it presents an attractive proposition for investors eyeing long-term value and robust returns.”
Key performance highlights for Q2’ and H1’FY24
- Growth, Expansion, and Portfolio quality
- AUM of INR 7,592 Cr as of Sep’23 (up 74% YoY and 12% QoQ)
- INR 2,506 Cr of Gross Loans originated in Q2’FY24 (up 52% YoY and 23% QoQ) and INR 4,543 Cr of Gross Loans originated in H1’FY24 (up 51% compared to H1’FY23).
- Total Income stood at INR 253.6 Cr for Q2’FY24 (up 63% YoY and 16% QoQ) and INR 472.0 Cr in H1’FY24 (up 70% compared to H1’FY23)
- Net Total Income stood at INR 148.2 Cr for Q2’FY24 (up 71% YoY and 18% QoQ) and INR 273.9 Cr in H1’FY24 (up 76% compared to H1’FY23)
- PBT increased to INR 40.8 Cr in Q2’FY24 (up 132% YoY and 14% QoQ) and INR 76.4 Cr in H1’FY24 (up 174% compared to H1’FY23)
- PAT increased to INR 28.9 Cr in Q2’FY24 (up 448% YoY and 14% QoQ) and INR 54.1 Cr in H1’FY24 (up 329% compared to H1’FY23)
- GNPA / NNPA as on Sep’23 stood at 9% /1.1% (as a % of Total AUM)
- Over 59,000 customers as of Sep’23
- 104 branches (as on Sep 23)
Liability and Liquidity Position
- The total lender count stood at 60 as of Sep 23
- Total Debt stood at INR 3,798 Cr as of Sep’23, and the overall debt-to-equity ratio was 2.8x
- Healthy capital position with CRAR of 24.84% (as of Sep 23)
