31, Aug 2026
Shriram Life’s FY26 Maharashtra Growth: Retail Policies up 31%, Retail Premium up 17%, ahead of private industry
HYDERABAD, India, Aug. 31, 2026 /PRNewswire/ — Shriram Life Insurance Company (SLIC) reported strong business performance in Maharashtra during fiscal year 2026, with growth in both retail policies and retail premiums exceeding private industry trends in the state.
During the period, SLIC’s retail policy in Maharashtra grew 31%, higher than the private industry’s growth of 12%. Retail premium growth stood at 17%, compared to 9% growth reported by the private industry during the same period.
“Maharashtra is a key focus market for Shriram Life’s growth, and we are happy to see our efforts bearing fruit. We remain committed to investing in the region and fully expect this growth momentum to continue. Strong policy and premium growth, driven by our expanding footprint, reflects the trust of our customers and distribution partners across the region,” said Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance.
SLIC remains focused on expanding access to life insurance, strengthening customer engagement, and supporting the long-term financial well-being of individuals and families across Maharashtra.
The company has strengthened its agency and bancassurance network, improved digital onboarding, and upgraded customer service. It continues to grow insurance penetration through protection and savings products, positioning it for steady growth in retail policies and premiums over the medium term.
Overall, SLIC’s new business premium (individual) grew 21% in FY26, up from Rs 1,372 crore to Rs 1,666 crore in FY26. Retail annualised premium equivalent was up 14% in FY26, up from Rs 1,289 crore in FY25 to Rs 1,475 crore in FY26.
About Shriram Life Insurance Company
Shriram Life Insurance is committed to serving every Indian household with protection solutions that matter. With a network of 729 branches across the country, the company provides affordable, reliable, and user-friendly insurance —term plans, endowment, ULIPs, and annuities—helping families secure their tomorrow, today. Over 15.3 lakh in-force policyholders trust us with their financial safety. As of March 2026, our Assets Under Management has grown to ₹15,216 crore. Our easy-to-use apps make purchasing, premium payments, and claim settlements simple and convenient for everyone.
About Shriram Group
Shriram Group is one of India’s leading financial conglomerates, with a strong presence in retail financing, asset reconstruction, wealth management, life insurance, general insurance, chit funds, stock broking, financial product distribution, and asset management services. The Group’s focus is on serving underserved communities, driven by its financial inclusion agenda to bring finance to low-income families and small businesses. Shriram Group serves over 2.98 crore customers, has a marketing force of more than 1.85 lakh, employs over 1.15 lakh people, and operates through more than 4,700 branches. It manages an AUM of ₹3.69 lakh crore as of March 2026.
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- By Sai Krishna
31, Aug 2026
AXISCADES Technologies to Acquire Cloud Wave Technologies, Accelerating Entry into Aerospace Manufacturing
Acquisition accelerates AXISCADES’ aerospace manufacturing strategy, combining immediate capability with planned capacity expansion at Devanahalli.
BENGALURU, India, Aug. 31, 2026 /PRNewswire/ — AXISCADES Technologies Limited (NSE: AXISCADES) (BSE: 532395) (“AXISCADES”), listed on the BSE and NSE, on the 28th of August, 2026 announced that its Board of Directors has approved the acquisition of a majority stake in Cloud Wave Technologies Private Limited (“Cloud Wave”), a Bengaluru-based precision engineering and manufacturing company at an enterprise valuation of approximately INR 260 crores (subject to the finalization of accounts and adjustments as set out under the definitive agreements). The transaction marks a significant step in AXISCADES’ strategy to accelerate the scale-up of its Aerospace Manufacturing platform and add immediately operational precision-manufacturing capabilities alongside its established, product-based Aerospace, Defence and Electronics businesses.
Founded in 2014 and headquartered in Bengaluru, Cloud Wave is an AS9100D-certified manufacturer operating seven manufacturing units, providing precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing & surface treatment capabilities. Its customer base spans the Aerospace & Defence and Semiconductor sectors across both domestic and export markets. The company has been consistently growing over the years and is expected to generate 180cr revenue at 22% EBITDA in FY27.
The acquisition is a key inorganic step under AXISCADES’ Power 930 growth plan, which targets continued expansion into aerospace manufacturing. AXISCADES is also separately developing a new Centre for Advanced Manufacturing (CAM) — a 240,000 sq ft, world-class facility on a 20-acre campus at its Devanahalli Aerospace Park — designed to consolidate and scale manufacturing operations, backed by the right talent, to a standard capable of serving global OEMs. AXISCADES will continue to evaluate selective inorganic opportunities that deepen manufacturing capabilities, expand technology access, and strengthen proximity to global customers in the US & EU.
“This is a defining step for AXISCADES. We are leveraging two decades of our engineering and manufacturing legacy to become a significant player in the aerospace manufacturing supply chain ecosystem — addressing a real capability & capacity gap in India, collaborating with existing Tier 1 and Tier 2 suppliers, and serving our global customers. This platform will continue to expand & grow its existing customers and in parallel meet our own internal metallic manufacturing needs across Defence and Electronics, and positions us to bid for domestic programmes with ADA, HAL, DRDO and others.”
— K.P. Mohanakrishnan, Deputy CEO & President – Aerospace, AXISCADES Technologies Limited
“Joining the AXISCADES Group marks an important milestone in Cloud Wave’s growth journey. It provides us with greater scale, access to a broader customer base and the long-term capital required to accelerate our ambitions. Over the past decade, our team has built strong precision-manufacturing capabilities trusted by leading global aerospace and semiconductor customers. We are excited to take these capabilities to the next level as part of a listed, well-capitalised aerospace and defence platform.”
— Satishkumar P., Founder & CEO, Cloud Wave Technologies Private Limited
About AXISCADES Technologies Limited
AXISCADES Technologies Limited is a publicly listed technology Company headquartered in Bengaluru, India, with operations across Europe, the Americas and the APAC region. The company delivers product-based Aerospace and Defence solutions, and advanced Electronics, Semiconductor and AI products, working with long-term strategic partners across global OEMs and Tier 1 suppliers.
About Cloud Wave Technologies Private Limited
Cloud Wave Technologies Private Limited is a Bengaluru-based, AS9100D-certified precision manufacturing Company founded in 2014. Operating seven manufacturing units, Cloud Wave provides precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing, and surface treatment capabilities across the Aerospace & Defence and Semiconductor sectors, serving both domestic and export markets.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding future acquisitions, facility development, and growth targets, which are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. AXISCADES undertakes no obligation to update these statements except as required by applicable law or listing regulations.
View original content:https://www.prnewswire.com/in/news-releases/axiscades-technologies-to-acquire-cloud-wave-technologies-accelerating-entry-into-aerospace-manufacturing-302864690.html
31, Aug 2026
NAREDCO Maharashtra to advocate for Rs. 10,000 crore investment in Indian real estate
Mumbai, 31st August 2026: As India advances toward its Viksit Bharat vision, the real estate sector is emerging as a critical driver of economic growth, productivity, and job creation. The sector remains one of the largest contributors to employment generation, capital formation, and urban development, underpinning robust macroeconomic prospects with the potential to scale up to $10 trillion by 2047. Having reached a market size of $650 billion in 2025, the Indian real estate sector currently contributes 7.3% to the national GDP—a share projected to expand significantly to approximately 20% in the coming decades.
In a major push to accelerate this growth narrative, NAREDCO Maharashtra will host its flagship Real Estate & Infrastructure Investors’ Summit 2026 (REIIS 2026) on 3rd September 2026 in Mumbai. Centered on the theme ‘RE-Defining India’s Growth Story,’ REIIS 2026 aims to directly facilitate and promote foreign investments across Indian real estate. JLL India is releasing an exclusive report on redevelopment in Mumbai at the event. At the summit, NAREDCO will advocate for target investment commitments exceeding ₹10,000 crore, alongside the announcement of a landmark initiative by the Government of Maharashtra: the launch of an International Business & Finance Center (IBFC) in Nagpur to establish a new regional financial hub and decentralize economic growth across the state.
Speaking about the launch of an International Business & Finance Center (IBFC) at Nagpur, Shri Sanjay Meena IAS, Metropolitan Commissioner, NMRDA said, “Naveen Nagpur IBFC is envisioned as a landmark development that will create a new business and investment destination for Nagpur and Central India. Spread across 1,710 acres, it will offer integrated infrastructure and a complete business ecosystem for corporates, GCCs, startups and financial institutions. As NMRDA, our focus is to develop Naveen Nagpur with quality infrastructure, efficient governance and a strong investment environment, strengthening Nagpur’s position as a major economic destination in Central India.”
Driven by landmark infrastructure developments such as Mumbai 3.0, transit-oriented corridors, and urban redevelopment, Maharashtra‘s real estate sector is positioned for unprecedented expansion. Surging interest from international institutional investors across Japan, Korea, the Middle East, and other global markets forms part of a broader investment target for the state, comprising ₹10,000 crore in foreign direct investments (FDI) and domestic institutional capital.
The high-profile convergence at REIIS 2026 will bring together policymakers, global and domestic institutional investors, banking leaders, AI and proptech innovators, and key industry stakeholders to deliberate on capital flows, urbanization strategies, alternative financing, and technology integration in Indian real estate.
The day-long summit features a packed lineup, beginning with an exclusive Power Breakfast on “Mumbai 3.0: The Innovation City”, an AI and Proptech Pavilion, and a series of dynamic panel discussions covering themes such as alternative capital, cross-border expansions, AI integration, and real estate liquidity blueprints.
The summit will feature key addresses and participation from eminent leadership and dignitaries including Shri Devendra Fadnavis, Hon’ble Chief Minister, Government of Maharashtra; Pranav Adani, Director, Adani Enterprises, Gautam Singhania, Chairman, Raymond Realty, Durga Shanker Mishra, IAS (Retd), Former Chief Secretary, Uttar Pradesh; Paritosh Kashyap, Whole‐time Director, Kotak Mahindra Bank ; Kaku Nakhate, Chairperson, Bank of America Securities India; Ashutosh Singh, MD and CEO, BSE Indices; Dr. Sanjay Mukherjee, IAS, Commissioner, MMRDA; Sanjay Meena IAS, Metropolitan Commissioner NMRDA; Maninder Cheema, Executive Director, SEBI; Kaustubh Dhavse, Chief Advisor (Investments & Strategy) to the Chief Minister of Maharashtra, among others.
Speaking on the vision for the summit, Mr. Kamlesh Thakur, President, NAREDCO Maharashtra said, “REIIS 2026 comes at a pivotal juncture as Maharashtra leads transformative infrastructure and urban development. Under the theme ‘RE-Defining India’s Growth Story,’ the summit will bring together developers, venture capital and institutional investors to unlock sustainable capital flows, promote proptech adoption and shape actionable growth opportunities for the region’s evolving built environment.”
Emphasizing long-term opportunities, Dr. Niranjan Hiranandani, Chairman, NAREDCO India noted, “India’s growth narrative is closely linked to the trajectory of its infrastructure and real estate sectors. With initiatives such as Mumbai 3.0 reshaping connectivity, significant opportunities are emerging through residential, commercial, data centres and logistics. REIIS 2026 provides a platform to rethink investment strategies, harness AI and build resilient structures that can support India’s journey towards a multi-trillion-dollar economy.”
Mr. Sandeep Runwal, Chairman, NAREDCO Maharashtra said, “The next phase of India’s real estate growth will be shaped by the alignment of capital, innovation and infrastructure with the needs of a rapidly urbanizing economy. REIIS 2026 brings together developers, investors, financial institutions and technology leaders to foster stronger investment partnerships, explore innovative financing models and advance sustainable, technology-enabled urban development.”
Highlighting the macroeconomic momentum, Mr. Rajan Bandelkar, Former Vice Chairman, NAREDCO India stated, “India’s real estate sector has institutionalized into a mature asset class that commands deep global confidence. Also, with the NextGen leadership stepping up, their innovative approach and fresh perspectives are driving new value and opening up modern avenues for foreign and domestic investments. REIIS 2026 highlights the critical role of alternative capital, private equity, and structured investment vehicles in sustaining this momentum. By bringing together foreign and domestic funds, this summit will explore equity and debt structures necessary to finance India’s urbanization surge.”
India’s real estate investment market maintains exceptional momentum with Q1 2026 transaction volumes reaching USD 1.7 billion, a 37% year-on-year increase, driven by a 178% surge in core asset acquisitions to USD 1.03 billion, demonstrating sustained institutional investor confidence despite global macroeconomic complexity, according to JLL India. This growth comes despite extended decision-making timelines driven by global macroeconomic complexity, demonstrating the resilience and fundamental strength of India’s real estate market. The quarter witnessed a significant structural shift in investor preferences, with core asset acquisitions surging 178% to USD 1.03 billion. This trend has accelerated into Q2, with core asset deals already totaling USD 1.48 billion, signaling sustained confidence in stable, income-generating properties, JLL added.
Key Highlights & Market Projections for REIIS 2026
The summit will commence with an exclusive Power Breakfast focused on “Mumbai 3.0: The Innovation City,” followed by the inauguration of a dedicated AI and Proptech Pavilion. Throughout the day, high-level panel discussions and keynote fireside chats will feature leaders from global alternative asset manager Brookfield, Raymond Realty, and other esteemed industry speakers. Key sessions will also provide insights into the deployment of AI in Indian real estate, regional expansion strategies from local to pan-India footprints, and new blueprints for real estate liquidity.
• Foreign Direct Investment (FDI): Projected ₹10,000 crore in foreign investment inflows into Maharashtra‘s real estate and infrastructure projects in FY27.
• Proptech & AI Acceleration: Dedicated showcases on AI integration, automated property management, and tech-enabled construction efficiency.
• Mumbai 3.0 & Infrastructure Dialogue: Strategic discussions with state leadership on expanding urban transit corridors, industrial zones, and redevelopment blueprints.
The event will conclude with an address by Chief Guest Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra.
31, Aug 2026
UST to Host GenCyS 2026 Conference Exploring the Intersection of AI and Security
Second annual AI and cybersecurity conference unites technology leaders, researchers and students to explore the future of secure innovation
THIRUVANANTHAPURAM, India, Aug. 31, 2026 /PRNewswire/ — UST, a leading AI and technology transformation solutions company, will host the GenCyS 2026 global AI and cybersecurity conference at its Thiruvananthapuram campus from September 5 – 6, 2026. Building on the success of the inaugural event in 2025, the conference will bring together technology leaders, AI practitioners, security experts, researchers, developers, and students to explore the rapidly evolving intersection of artificial intelligence and security.
The free hybrid conference will feature lectures, technical sessions, panel discussions, and hands-on workshops centred around the convergence of advanced artificial intelligence and robust security practices. Attendees will learn directly from industry experts, exchange ideas, and explore how AI is transforming cybersecurity.
GenCyS 2026 aims to empower participants to innovate safely in an evolving digital landscape, offering insights into emerging AI technologies, evolving security challenges, and the future of secure innovation. The event will also host the GenCyS CTF Finals, bringing together finalists from UST’s capture-the-flag cybersecurity competition that attracted more than 1,500 participants from around the world.
With online participation available for those unable to attend in Thiruvananthapuram and free registration for all, GenCyS 2026 welcomes students, professionals, and technology enthusiasts from around the world to experience two days of dynamic learning, meaningful interaction, and exciting discovery.
Register here: https://events.ust.com/gencys2026
About UST:
Since 1999, UST has worked side by side with the world’s best companies to make a powerful impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our digital solutions, proprietary platforms, engineering, R&D, products, and innovation ecosystem turn core challenges into impactful, disruptive business outcomes. With deep industry knowledge and a future-ready mindset, we infuse expertise, innovation, and agility into our clients’ organizations — delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact — touching billions of lives in the process. Visit us at www.UST.com.
Media Contacts, UST India:
Neha Misri
+44-7733907820
SomSekhar CV
+91-9037888244
Roshni Das K
+91-7736795557
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31, Aug 2026
PM Modi Visits Mahatma Gandhi Centre in Tashkent, Highlights Growing Interest in Indian Culture and Civilisation
Tashkent, Aug. 31: Prime Minister Narendra Modi’s visit to the Mahatma Gandhi Centre at Tashkent State University of Oriental Studies on Sunday offered a glimpse into the growing academic and cultural interest in India in Uzbekistan.
Yesterday’s visit to the Mahatma Gandhi Centre at Tashkent State University of Oriental Studies was interesting for quite a few reasons:
Got to see a vibrant Indology ecosystem.
Saw great passion towards studying about India.
Immense work on Gandhi Ji’s life.
Growing… pic.twitter.com/K4BM69UJwb
— Narendra Modi (@narendramodi) August 31, 2026
During his visit, the Prime Minister witnessed a vibrant Indology ecosystem, with students and scholars demonstrating strong enthusiasm for studying India’s civilisation, culture and history.
A key highlight of the visit was the extensive academic work being undertaken on the life and legacy of Mahatma Gandhi. The Centre has been playing an important role in promoting awareness of Gandhi’s philosophy and contribution among students and researchers.
Prime Minister Modi also noted the growing interest in Tamil culture and literature among the academic community. The increasing engagement with India’s diverse linguistic and cultural traditions was seen as an encouraging sign of deeper people-to-people and academic ties between India and Uzbekistan.
The visit also featured a special interaction with students, who recited a few lines from poems written by Prime Minister Modi. The gesture added a personal and cultural dimension to the visit.
The Prime Minister’s visit underscored the expanding educational and cultural links between India and Uzbekistan and highlighted the role of academic institutions in strengthening mutual understanding and civilisational connections between the two countries.
31, Aug 2026
India’s Mobile Manufacturing Sector Records Massive Growth, From 2 Factories in 2014 to 300+ in 2026
New Delhi, Aug. 31: India’s mobile phone manufacturing sector has witnessed a remarkable transformation over the past decade, emerging as a major pillar of the country’s electronics manufacturing ecosystem.
Representational Image
Highlighting the sector’s growth, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said India has moved from having just two mobile phone manufacturing units in 2014 to more than 300 units by 2026.
India’s mobile sector growth, rising from 2 phone factories in 2014 to over 300 by 2026, with production value jumping from ₹18,000 cr to ₹6.27 lakh cr and exports from ₹1,500 cr to ₹2.60 lakh cr.#DigitalIndia @AshwiniVaishnaw pic.twitter.com/7GVy9zmQl8
— Ministry of Electronics & IT (@GoI_MeitY) August 31, 2026
The expansion has been accompanied by a sharp rise in both domestic production and mobile phone exports, reflecting the growing strength of India’s electronics manufacturing ecosystem.
Production value jumps to ₹6.27 lakh crore
According to the figures highlighted by the minister, the value of mobile phone production in India has increased from around ₹18,000 crore in 2014 to approximately ₹6.27 lakh crore in 2026.
This represents a dramatic expansion in manufacturing capacity and underscores India’s growing role in the global mobile phone supply chain.
Exports witness massive surge
Mobile phone exports have also recorded a significant increase during the period.
From around ₹1,500 crore in 2014, India’s mobile phone exports have risen to approximately ₹2.60 lakh crore in 2026.
The sharp increase in exports reflects India’s transition from a largely import-dependent market to a major manufacturing and export base for mobile devices.
Policy push strengthens electronics manufacturing
The growth has been supported by initiatives such as Make in India, the Production Linked Incentive (PLI) scheme and other measures aimed at expanding domestic electronics manufacturing.
The government has now introduced a ₹62,500-crore Mobile Phone Manufacturing Scheme (MPMS) to further strengthen the sector, deepen domestic value addition and improve India’s global competitiveness. The scheme is also aimed at supporting Indian mobile phone brands, design capabilities and domestic intellectual property.
The latest figures underline the scale of India’s transformation in mobile manufacturing and signal the government’s continued focus on making the country a global hub for electronics production and exports.
31, Aug 2026
Bharat Connect Forex Surges Past INR 11 Crore in Four Months, Signals Rising Digital Demand
New Delhi, Aug 31: Digital foreign exchange services are gaining traction in India, with forex transactions through NBBL’s Bharat Connect platform crossing ₹11.19 crore between April and July 2026.
The sharp rise in transaction value highlights growing consumer acceptance of digital channels for foreign exchange, as customers increasingly look for simpler, more transparent and convenient ways to access forex services.
The forex category on Bharat Connect was launched in 2025 in partnership with the Clearing Corporation of India Ltd.’s FX-Retail platform. During FY26, the platform processed forex transactions worth around ₹2.71 crore. With the latest four-month performance, the cumulative transaction value has reached approximately ₹13.90 crore.
The service allows customers to access forex through participating banking and digital platforms, including facilities for purchasing foreign currency, loading forex cards and making eligible outward remittances. The integration with FX-Retail provides customers access to real-time pricing, helping them compare available rates before completing transactions.
The growing adoption comes as digital financial services continue to expand beyond traditional banking transactions. By bringing forex services onto an interoperable digital infrastructure, Bharat Connect is helping reduce dependence on fragmented and largely offline processes.
The platform has also seen an increase in larger-value transactions, reflecting greater customer confidence in digital forex services and the benefits of transparent, market-linked pricing.
The latest milestone underlines the changing way Indian consumers access foreign exchange, with digital platforms increasingly becoming a preferred route for services linked to international travel, overseas education, remittances and other cross-border needs.
With transaction volumes rising rapidly in the first four months of FY27, Bharat Connect’s forex offering is emerging as another example of India’s expanding digital financial ecosystem and the growing demand for convenient, transparent financial services.
31, Aug 2026
Shriram Life’s FY26 Maharashtra Growth: Retail Policies up 31%, Retail Premium up 17%, ahead of private industry
HYDERABAD, India, Aug. 31, 2026 /PRNewswire/ — Shriram Life Insurance Company (SLIC) reported strong business performance in Maharashtra during fiscal year 2026, with growth in both retail policies and retail premiums exceeding private industry trends in the state.
During the period, SLIC’s retail policy in Maharashtra grew 31%, higher than the private industry’s growth of 12%. Retail premium growth stood at 17%, compared to 9% growth reported by the private industry during the same period.
“Maharashtra is a key focus market for Shriram Life’s growth, and we are happy to see our efforts bearing fruit. We remain committed to investing in the region and fully expect this growth momentum to continue. Strong policy and premium growth, driven by our expanding footprint, reflects the trust of our customers and distribution partners across the region,” said Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance.
SLIC remains focused on expanding access to life insurance, strengthening customer engagement, and supporting the long-term financial well-being of individuals and families across Maharashtra.
The company has strengthened its agency and bancassurance network, improved digital onboarding, and upgraded customer service. It continues to grow insurance penetration through protection and savings products, positioning it for steady growth in retail policies and premiums over the medium term.
Overall, SLIC’s new business premium (individual) grew 21% in FY26, up from Rs 1,372 crore to Rs 1,666 crore in FY26. Retail annualised premium equivalent was up 14% in FY26, up from Rs 1,289 crore in FY25 to Rs 1,475 crore in FY26.
About Shriram Life Insurance Company
Shriram Life Insurance is committed to serving every Indian household with protection solutions that matter. With a network of 729 branches across the country, the company provides affordable, reliable, and user-friendly insurance —term plans, endowment, ULIPs, and annuities—helping families secure their tomorrow, today. Over 15.3 lakh in-force policyholders trust us with their financial safety. As of March 2026, our Assets Under Management has grown to ₹15,216 crore. Our easy-to-use apps make purchasing, premium payments, and claim settlements simple and convenient for everyone.
About Shriram Group
Shriram Group is one of India’s leading financial conglomerates, with a strong presence in retail financing, asset reconstruction, wealth management, life insurance, general insurance, chit funds, stock broking, financial product distribution, and asset management services. The Group’s focus is on serving underserved communities, driven by its financial inclusion agenda to bring finance to low-income families and small businesses. Shriram Group serves over 2.98 crore customers, has a marketing force of more than 1.85 lakh, employs over 1.15 lakh people, and operates through more than 4,700 branches. It manages an AUM of ₹3.69 lakh crore as of March 2026.
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31, Aug 2026
AXISCADES Technologies to Acquire Cloud Wave Technologies, Accelerating Entry into Aerospace Manufacturing
Acquisition accelerates AXISCADES’ aerospace manufacturing strategy, combining immediate capability with planned capacity expansion at Devanahalli.
BENGALURU, India, Aug. 31, 2026 /PRNewswire/ — AXISCADES Technologies Limited (NSE: AXISCADES) (BSE: 532395) (“AXISCADES”), listed on the BSE and NSE, on the 28th of August, 2026 announced that its Board of Directors has approved the acquisition of a majority stake in Cloud Wave Technologies Private Limited (“Cloud Wave”), a Bengaluru-based precision engineering and manufacturing company at an enterprise valuation of approximately INR 260 crores (subject to the finalization of accounts and adjustments as set out under the definitive agreements). The transaction marks a significant step in AXISCADES’ strategy to accelerate the scale-up of its Aerospace Manufacturing platform and add immediately operational precision-manufacturing capabilities alongside its established, product-based Aerospace, Defence and Electronics businesses.
Founded in 2014 and headquartered in Bengaluru, Cloud Wave is an AS9100D-certified manufacturer operating seven manufacturing units, providing precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing & surface treatment capabilities. Its customer base spans the Aerospace & Defence and Semiconductor sectors across both domestic and export markets. The company has been consistently growing over the years and is expected to generate 180cr revenue at 22% EBITDA in FY27.
The acquisition is a key inorganic step under AXISCADES’ Power 930 growth plan, which targets continued expansion into aerospace manufacturing. AXISCADES is also separately developing a new Centre for Advanced Manufacturing (CAM) — a 240,000 sq ft, world-class facility on a 20-acre campus at its Devanahalli Aerospace Park — designed to consolidate and scale manufacturing operations, backed by the right talent, to a standard capable of serving global OEMs. AXISCADES will continue to evaluate selective inorganic opportunities that deepen manufacturing capabilities, expand technology access, and strengthen proximity to global customers in the US & EU.
“This is a defining step for AXISCADES. We are leveraging two decades of our engineering and manufacturing legacy to become a significant player in the aerospace manufacturing supply chain ecosystem — addressing a real capability & capacity gap in India, collaborating with existing Tier 1 and Tier 2 suppliers, and serving our global customers. This platform will continue to expand & grow its existing customers and in parallel meet our own internal metallic manufacturing needs across Defence and Electronics, and positions us to bid for domestic programmes with ADA, HAL, DRDO and others.”
— K.P. Mohanakrishnan, Deputy CEO & President – Aerospace, AXISCADES Technologies Limited
“Joining the AXISCADES Group marks an important milestone in Cloud Wave’s growth journey. It provides us with greater scale, access to a broader customer base and the long-term capital required to accelerate our ambitions. Over the past decade, our team has built strong precision-manufacturing capabilities trusted by leading global aerospace and semiconductor customers. We are excited to take these capabilities to the next level as part of a listed, well-capitalised aerospace and defence platform.”
— Satishkumar P., Founder & CEO, Cloud Wave Technologies Private Limited
About AXISCADES Technologies Limited
AXISCADES Technologies Limited is a publicly listed technology Company headquartered in Bengaluru, India, with operations across Europe, the Americas and the APAC region. The company delivers product-based Aerospace and Defence solutions, and advanced Electronics, Semiconductor and AI products, working with long-term strategic partners across global OEMs and Tier 1 suppliers.
About Cloud Wave Technologies Private Limited
Cloud Wave Technologies Private Limited is a Bengaluru-based, AS9100D-certified precision manufacturing Company founded in 2014. Operating seven manufacturing units, Cloud Wave provides precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing, and surface treatment capabilities across the Aerospace & Defence and Semiconductor sectors, serving both domestic and export markets.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding future acquisitions, facility development, and growth targets, which are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. AXISCADES undertakes no obligation to update these statements except as required by applicable law or listing regulations.
View original content:https://www.prnewswire.com/in/news-releases/axiscades-technologies-to-acquire-cloud-wave-technologies-accelerating-entry-into-aerospace-manufacturing-302864690.html
31, Aug 2026
WORQ Receives Frost & Sullivan’s 2026 Malaysian Flexible Workspace Competitive Strategy Leadership Recognition for Excellence in Flexible Workspace Strategy
WORQ is recognized for its disciplined growth strategy, transit-oriented workspace network, customer-centric experience, and differentiated approach to Malaysia’s evolving flexible workspace market.
SAN ANTONIO, Aug. 31, 2026 /PRNewswire/ — Frost & Sullivan is pleased to announce that WORQ has received the 2026 Malaysian Flexible Workspace Competitive Strategy Leadership Recognition for its outstanding achievements in strategy execution, market expansion, operational discipline, and customer-centric growth. This recognition highlights WORQ’s ability to strengthen its competitive position while delivering flexible, technology-enabled workplace solutions aligned with the evolving needs of enterprises and occupiers.
Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. WORQ excelled in both, demonstrating its ability to align strategic initiatives with market demand while executing them with efficiency, consistency, and scale.
“WORQ has built a differentiated growth strategy by combining disciplined site selection, strategic landlord partnerships, and a strong focus on transit-oriented developments. Its continued investment in technology and physical workspace creates lasting value across its ecosystem of landlords, investors, and occupiers,” said Janice Wung, Industry Principal at Frost & Sullivan.
Guided by a long-term growth strategy focused on capital efficiency, demand-led expansion, and strategic partnerships, WORQ has developed a hybrid operating model combining conventional lease structures with partnership-driven arrangements involving institutional landlords. This approach enables access to premium locations while supporting disciplined scaling. The company aims to reach 500,000 square feet by 2027 and 1 million square feet by the end of the decade.
Innovation and operational consistency are central to WORQ’s approach. Its cloud-based operating systems provide real-time visibility across locations, supporting standardized processes and enabling successful workspace models to be replicated with speed and precision. Its network of transit-oriented locations across the Klang Valley further strengthens accessibility and competitive differentiation, with twelve outlets located directly at train stops.
“WORQ is fundamentally an innovation company. From the get-go, our edge has been thinking differently at every stage of this industry’s evolution — prioritizing profitability and efficiency before the market saw it as essential, building the first-of-its-kind transit-oriented coworking network, and establishing coworking as essential infrastructure for the future of work. We also invested early in community and people experience, understanding that both take time to build but compound powerfully at scale. That strategic discipline is why WORQ is now the largest and strongest player in the industry. This recognition from Frost & Sullivan is a strong signal that our strategy is leading the market — and we plan to bring more exciting innovations to the market,” said Stephanie Ping, Co-Founder and CEO of WORQ.
WORQ’s commitment to customer experience further strengthens its market position. Its Space-as-a-Service and Enterprise Solution offerings manage the complexity of office occupation, from site selection and fit-out to facilities management and day-to-day administration. The company also places strong emphasis on wellbeing, community, and engagement. WORQ Well at KL Eco City, Malaysia’s first and only coworking space to receive the WELL Coworking Rating, exemplifies this approach through an experience-led workplace environment designed around productivity and wellbeing.
Beyond physical workspace, WORQ maintains continuous engagement throughout the client life cycle, working with organizations as their headcount, workplace, and operational requirements evolve. More than 62% of customers stay for the long term, while annual revenues exceed MYR 50 million, supported by diversified revenue streams across coworking memberships, private offices, enterprise solutions, meeting rooms, and event spaces.
Frost & Sullivan commends WORQ for setting a strong benchmark in competitive strategy, execution, and market responsiveness. Its disciplined operating model, customer-centric workplace experience, and strategic approach to expansion demonstrate how flexible workspace providers can create tangible value for both occupiers and property partners.
Each year, Frost & Sullivan presents the Competitive Strategy Leadership Recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in competitive positioning, customer value, and market performance.
Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
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About WORQ
Malaysia’s largest coworking space operator, WORQ, is built on a space-as-a-service model, and is the leading Transit-Oriented Development (TOD) coworking network in the country. Its vision is simple: to help entrepreneurs and growing businesses connect, collaborate, and Prosper by WORQing Together. This winning formula made WORQ profitable within its first two months and is reflected in the company’s 12 industry awards and accolades, most recently winning Southeast Asia’s Best Coworking Space at the Global Startup Awards 2026. A testament to its reputable status, WORQ has been graced by numerous global icons, including His Majesty King Charles III, then Prince of Wales, during his 2017 visit.
As the needs of businesses evolve, WORQ has expanded its workplace solutions with a people-first approach to employee experience. Guided by the philosophy of Prosper by WORQing Well, WORQ Well @ KL Eco City was launched to bring wellness-led workplace design into coworking, offering a country-club-inspired environment that supports productivity and wellbeing, sporting a full-sized swimming pool, jacuzzi and sauna among other wellness amenities. Through its community-driven model, TOD-connected locations, and focus on sustainable growth, WORQ continues to redefine the future of work in Malaysia.
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