Financial Results for the Quarter Ended December 31, 2025

Mumbai, Jan 17:  The Bank today announced its financial results for the quarter ended December 31, 2025 (Q3FY26), reporting strong business growth, improved profitability, and a marked enhancement in asset quality compared to the corresponding quarter of the previous year.

Key Financial Highlights (Q3FY26 vs Q3FY25)

• Total Business grew by 15.77% on a year-on-year basis

• Total Deposits increased by 13.24% YoY

  • CASA deposits constituted 47.13% of total deposits

• Gross Advances rose by 19.48% YoY

• Net Profit increased by 31.70% YoY

• Operating Profit grew by 16.76% YoY

• Net Interest Income (NII) remained stable during the quarter

• Net Interest Margin (NIM) stood at 2.96%

• Cost-to-Income Ratio improved by 99 basis points to 57.84%

• Return on Assets (ROA) improved to 1.01% from 0.87%

• Return on Equity (ROE) improved to 14.47% from 12.85%

Profitability Performance

• Total Income (interest income plus non-interest income) increased by 12.62% YoY during Q3FY26

• Operating Profit grew by 16.76% YoY and 4.26% on a year-to-date basis

• Net Interest Income declined marginally by 1.07% YoY

• Improvement in ROA and ROE reflects enhanced operational efficiency and disciplined cost management

Business Highlights

• RAM (Retail, Agriculture & MSME) portfolio recorded 17.89% YoY growth

  • Retail segment grew by 20.93%

  • Agriculture segment grew by 15.41%

  • MSME segment grew by 15.90%

• Business per Employee improved on a year-on-year basis, reflecting higher productivity levels

Asset Quality

• Gross NPA improved significantly to 2.70% from 3.86%, registering an improvement of 116 basis points

• Net NPA declined to 0.45% from 0.59%, an improvement of 14 basis points

• Provision Coverage Ratio (PCR) strengthened to 96.69%, reflecting prudent risk management

Capital Adequacy

• Basel III Capital Adequacy Ratio (CRAR) stood at 16.13%

  • Tier I Capital at 13.87%

• Capital adequacy remains well above regulatory requirements, providing strong support for future growth

Branch & Distribution Network

As of December 31, 2025, the Bank maintained a robust pan-India presence with 21,817 touch points, comprising:

• 4,567 branches, with 65.22% located in rural and semi-urban areas

• 4,111 ATMs

• 13,099 Business Correspondent (BC) points

• 40 BC Maxx points

CARS24 Reports Strong H1 FY26 Performance; Revenue Grows 18% YoY as Financing and Ownership Services Drive Next Phase of Growth

Mumbai, Jan 17:  CARS24, India’s leading auto-tech platform, today announced its financial results for the first half of FY26, delivering strong operating momentum, improving unit economics, and continued progress in its transformation from a buy-sell marketplace into a full-stack vehicle ownership platform.

During H1 FY26, Adjusted Net Revenue increased 18% year-on-year to INR 651 crore, while Adjusted EBITDA burn reduced by 36% YoY to ₹(162) crore, reflecting greater operating efficiency and disciplined cost management.

CARS24 maintained its position as the largest online used-car platform across India, UAE, and Australia. During the period, approximately 85,000 cars were transacted across the three markets, with Vehicle Transaction GMV of ₹3,731 crore.

Financing emerged as a key growth driver, with loans disbursed rising ~38% YoY to ₹1,637 crore globally. The company continues to scale non-captive financing offerings, including dealer consumer financing and refinancing, beyond traditional captive attach rates on retail car transactions, establishing financing as a meaningful and sustainable growth pillar.

Vehicle Ownership Services witnessed strong traction as CARS24 expanded into an end-to-end ownership ecosystem over the past 18 months. Offerings now include Insurance, Challan Payments, CarTruth (pre-delivery inspections and vehicle history reports), Buyback, and Chauferly. This segment generated ₹94 crore in GMV during H1 FY26, with transactions increasing 19x on the platform. The acquisition of CarInfo further strengthens the company’s focus on this high-margin, recurring-revenue segment, reinforcing its brand promise of “Better drives, better lives” by building long-term relationships with vehicle owners.

At its core, CARS24 remains technology-first, delivering a seamless experience to over 11 million monthly users across its platforms.

Looking ahead, the company expects H2 FY26 Adjusted Net Revenue to exceed ₹750 crore, representing approximately 35% YoY growth, with acceleration anticipated in Transaction GMV. CARS24 is also preparing for a potential IPO in the next 6–12 months, subject to market conditions and regulatory approvals.

Telangana’s Biggest Juice-Line Manufacturing Facility Inaugurated in Hyderabad

Hyderabad, Jan 16: Valencia Nutrition Limited (VNL) today inaugurated Unit II of its integrated beverage manufacturing facility under its subsidiary, Valencia Beverages and Super water (VBSW), in Hyderabad. The facility was inaugurated by Mr. Manish Turakhia, Visionary Promoter and Managing Director of Valencia Nutrition Limited.

VBSW Unit I and Unit II were developed by the company’s in-house engineering team, led by Mr. Jay Shah, Executive Director of VBSW, and John P. Michael, Director of VBSW. The commissioning of Unit II marks a significant milestone in VBSW’s roadmap to 27 plants, strengthening its decentralized manufacturing strategy for the mass-market PET bottle range sold under the flagship brand Bounce Super drinks and category brands such as Vitafizz, Pulpify, and Powerplay.

As part of the inauguration, VNL announced that Bounce Vitafizz will now be available in a new packaging format. Designed for affordability and wider reach, this new format supports the company’s focus on high-volume distribution.

The VBSW Unit II facility, spanning 49,700 sq. ft., is the largest juice-line manufacturing facility in Telangana and houses India’s first hybrid hot-fill juice-line manufacturing system. This integrated line enables the production of juices, fruit-based drinks, pulp beverages, nata-de beverages, and soda variants. The unit has a production capacity of 300,000 bottles per day and is equipped with a 120,000-liter-per-day RO water system, high-speed PET bottling lines, and IoT-enabled production monitoring for real-time operational visibility.

The facility was fully commissioned within three months (October 15, 2025, to January 14, 2026), achieving regulatory compliance within two months. Notably, Unit II was established at approximately 60% of typical market costs, reflecting VNL’s execution efficiency.

Commenting on the development, Mr. Manish Turakhia, Promoter and Managing Director of VNL, said: “Well-planned machinery layout, execution speed, and efficient local approvals are critical to setting up complicated plants. This facility reflects our approach to building efficient, compliant, and future-ready infrastructure. Achieving effective plant utilization through ‘majority sales at factory gate’ is essential for faster ROI. I take pride in Team Valencia’s management of the installation of over 107 tonnes of machinery and pipelines.”

Art Aura lights up Infiniti Mall, Malad with creativity, workshops, and artistry

Mumbai, Jan 16:  Infiniti Mall, Mumbai’s premium destination for shopping, dining, and entertainment, presents the Art Aura Exhibition at its Malad location from 12th to 18th January, between 11:00 am and 9:30 pm, celebrating creativity, craftsmanship, and emerging artistic talent. The exhibition will be inaugurated by Dr. Kishor Ingale, Director, Directorate of Art, Maharashtra State, as the Chief Guest..

More than 40 artists will be participating in the exhibition, offering visitors an opportunity to engage with emerging talent and gain insights into diverse creative practices. Art Aura showcases a wide range of art forms including Painting, Drawing, Block printing, Paper quilling art, 3D artworks, Sculptures and Handicrafts. Presented in association with L S Raheja College, the exhibition promises a visually immersive experience for art enthusiasts.

Set within an inspiring retail environment, the Art Aura Exhibition creates a unique platform to experience art while supporting emerging artists. Infiniti Mall looks forward to welcoming art lovers to Art Aura, a vibrant celebration where creativity and innovation take centre stage, promising an enriching and memorable artistic experience.

Clavell Santiago Appointed Vice President Sales (HoReCa) and Marketing at Evocus

Mumbai, Jan 16: Evocus, India’s premium functional beverage brand, has announced the appointment of Clavell Santiago as Vice President – Sales (HoReCa) and Marketing, marking a significant step in strengthening the brand’s commercial and growth strategy.

In his expanded role, Clavell will spearhead Evocus’s sales and marketing functions, driving brand strategy, accelerating revenue growth, and scaling the HoReCa business across domestic and international markets. He will play a pivotal role in deepening Evocus’s presence across premium hospitality, foodservice, and emerging growth channels.

Clavell has been a key contributor to Evocus’s growth journey and most recently served as Head of Sales HoReCa, where he led the brand’s successful entry into the HoReCa segment. Under his leadership, Evocus launched the world’s first Black Soda, introduced trade-focused product innovations, and scaled its HoReCa footprint to over 1,000 outlets nationwide. The brand has since become a preferred beverage partner for leading hospitality groups such as Oberoi, Marriott, and Taj, along with prominent restaurants and café chains across India.

With over 12 years of experience spanning FMCG and hospitality, Clavell brings deep expertise in B2B sales, premium brand building, strategic partnerships, and revenue growth across domestic and international markets. Prior to Evocus, he held leadership roles with Narang Group, Coffee Day Beverages, MARS Group, IHG, and InterContinental Hotels Group.

Commenting on the appointment, Aakash Vaghela, Founder and Managing Director, Evocus, said,

“As Evocus continues to expand its footprint across India and global markets, Clavell’s ability to build high-value partnerships, scale channels, and elevate premium brand experiences will be instrumental. His proven leadership will play a critical role in driving our next phase of growth.”

Sharing his thoughts, Clavell Santiago said,

“I am deeply honoured to take on this role. The journey so far has been filled with learning and meaningful milestones. As we scale Evocus, my focus will be on strengthening our marketing narrative, deepening engagement across key channels, and building clear differentiation to drive sustainable, long-term growth.”

With Clavell Santiago at the helm of sales and marketing, Evocus is well positioned to accelerate growth, strengthen its HoReCa leadership, and reinforce its position as a leading premium functional beverage brand.

Federal Bank Posts Record Q3 FY26 Performance as Margins Improve and Asset Quality Strengthens

Federal Bank Delivers Record Q3 FY26 Performance with All-Time High NII, Operating Profit and Fee Income; Margins Expand and Asset Quality Strengthens Further

Federal Bank reported a strong and well-rounded performance for the quarter ended December 31, 2025 (Q3 FY26), marked by sustained margin expansion, improving profitability, disciplined cost management, and a further strengthening of asset quality. The results underscore the Bank’s continued focus on building a stable, margin-led, and resilient franchise.

Key Financial Highlights Q3 FY26

• Net profit recorded healthy sequential and year-on-year growth, supported by stronger core income and operating leverage.

• Net Interest Income reached an all-time high, reflecting steady balance-sheet expansion and improved yield dynamics.

• Net Interest Margin expanded quarter-on-quarter, driven by an improved liability mix and timely asset repricing.

• Operating profit posted solid growth on both a quarterly and annual basis, supported by disciplined cost management.

• Fee income achieved a record level, registering strong year-on-year growth and enhancing the quality and diversification of earnings.

• Total business continued its upward trajectory, delivering steady growth across both advances and deposits.

• Advances growth was led by Commercial Banking and Corporate & Institutional Banking segments.

• Deposits grew consistently, supported by a strengthening liability franchise.

• CASA ratio improved meaningfully on both a quarterly and annual basis, with strong growth in CASA balances.

• Cost-to-income ratio improved further, reflecting operating leverage and efficiency gains.

• Asset quality strengthened to decadal lows, with continued reduction in both gross and net NPAs.

• Provision coverage improved, reinforcing balance-sheet resilience.

• Return on Assets and Return on Equity showed sequential improvement, reflecting enhanced profitability.

• Earnings per share recorded healthy quarter-on-quarter growth.

Management Commentary

Commenting on the performance, Mr. KVS Manian, Managing Director & CEO, Federal Bank, said:

“Our Q3 performance reflects the continued strengthening of the Bank’s underlying fundamentals. Improvements in margins, declining funding costs, and sustained stability in asset quality are the direct outcome of the balance-sheet discipline and execution focus we have maintained over the past few quarters.

We are seeing increasing benefits from a stronger liability franchise and a calibrated shift in our asset mix toward segments that deliver superior risk-adjusted returns. While competitive intensity remains high, our emphasis remains on consistency and quality of earnings rather than headline growth. This approach positions the Bank well to deliver sustainable performance across market cycles.”

Strategic and Business Updates

Branch Expansion:
During the quarter, the Bank added six branches, aligned with its calibrated and market-focused expansion strategy.

Stake Increase in Ageas Federal Life Insurance:
Federal Bank increased its stake in Ageas Federal Life Insurance Company, strengthening its strategic partnership in the life insurance business. The transaction was completed during the quarter after receiving all requisite regulatory approvals.

Brand Refresh – The Fortuna Wave:
The Bank unveiled The Fortuna Wave, a refreshed brand identity reflecting its evolution into a contemporary and future-ready institution. Rooted in authenticity, prosperity, and togetherness, the new identity sharpens Federal Bank’s connection with a digitally driven customer base.

Strategic Investment by Blackstone:
Federal Bank welcomed a strategic minority investment from Blackstone, marking a significant milestone in its growth journey. The investment, which received approvals from the Board of Directors, shareholders, and regulatory authorities, underscores strong confidence in the Bank’s strategy, governance, and long-term growth potential.

With strong core earnings momentum, improving asset quality, and a strengthened balance sheet, Federal Bank remains well positioned to deliver consistent and sustainable performance in the coming quarters.

Equirus sole advisor to Kalpataru Projects on Vindhyachal Expressway sale to Actis

Mumbai, Jan 16: Mid-market specialist investment banking firm Equirus Capital today announced the successful completion of the 100% stake sale of Vindhyachal Expressway, an 89-km, four-lane operational highway asset of Kalpataru Projects International Limited (KPIL), to leading global private equity investor Actis. Equirus acted as the sole financial advisor to Kalpataru Projects on the transaction.

The divestment marks the 11th successful road M&A transaction advised by Equirus, further reinforcing its leadership in infrastructure monetisation and capital recycling mandates, particularly for mid-market companies. The transaction highlights Equirus’ deep expertise in yield-oriented infrastructure assets, with a strong track record in road sector advisory.

“This transaction underscores our differentiated capabilities in yield-oriented infrastructure assets and road M&A, where value creation is driven by cash-flow durability, risk allocation, and long-term return optimisation. Leveraging deep sector expertise and rigorous process management, we led the transaction end-to-end — from structuring and asset positioning to negotiations and closure,” said Vijay Agrawal, Managing Director and Sector Lead – Infrastructure and Real Estate, Equirus Capital.

As per Kalpataru Projects’ disclosure to stock exchanges, the transaction values the Vindhyachal Expressway asset at an estimated enterprise value of approximately ₹775 crore, subject to closing adjustments. The company also confirmed that “All necessary approvals and conditions precedent for the transaction have been successfully completed,” with the sale expected to be finalised before the long stop date of January 31, 2026.

Brokerages tracking Kalpataru Projects have viewed the transaction positively, noting,

“The divestment is financially positive for KPIL, as the asset contributes just ~0.43% of FY24 consolidated revenue while unlocking meaningful capital. The proceeds can strengthen the balance sheet and support redeployment into core EPC segments and growth opportunities, improving capital efficiency without impacting operating scale.”

“This is another example of a win-win deal that we have been able to seal providing Kalpataru Power with strategic capital recycling while giving Actis ownership of a high-quality, stable-yield road asset aligned with its long-term investment strategy,” Mr. Agrawal added.

Vindhyachal Expressway operates under a build-operate-transfer (BOT) concession with a residual concession period of over 20 years. As of March 31, 2024, the asset reported revenue of ₹85.07 crore and a net worth of ₹144.55 crore. The project stretch is located on NH-7 from Rewa to the Madhya Pradesh–Uttar Pradesh border, with traffic largely driven by inter-state commercial vehicle movement.

According to credit rating agency Crisil that rates VEPL Rs 284 crore of bank loans, “Commercial vehicles form a sizeable portion of traffic on the project stretch,” adding that the concession agreement allows for extension of the concession period by up to 20% in case of traffic shortfall, subject to approvals. Crisil further noted that traffic grew at a 6% CAGR between FY2018 and FY2024, while toll collections increased 12.7% year-on-year to ₹70.6 crore in the first nine months of FY2025, supported by inflation-linked toll hikes. The asset is also undergoing major maintenance, with ₹109 crore planned over FY2025–FY2026.

Fintech Must Be Treated as Core Financial Infrastructure in Budget 2026

Finance and Fintech sector 

By:  S. Anand, Founder & CEO of PaySprint, a fintech venture

“As India approaches Union Budget 2026, fintech must now be recognised as core financial infrastructure rather than a peripheral startup category. Digital rails such as payments, verification, and API-led banking today power MSMEs, merchants, and financial inclusion at population scale. The next phase of growth will depend on how strongly the budget prioritises resilience, security, and interoperability across this infrastructure.

A key expectation from Budget 2026 is policy and investment support for AI-led compliance, verification, and fraud prevention. As transaction volumes continue to rise, fintech infrastructure providers play a critical role in enabling secure onboarding, real-time risk assessment, and regulatory adherence. Encouraging India-first, explainable AI for regulated use cases will strengthen trust and scalability across the ecosystem.

Equally important is regulatory clarity and harmonisation. Fintechs operating across banking, payments, and verification need predictable compliance pathways and coordinated guidance from regulators. Simplifying compliance for startups while maintaining strong governance will help innovation and accountability grow together.

Finally, Budget 2026 should continue backing fintech models that expand financial access for MSMEs and underserved regions through low-friction digital onboarding and automation. With the right focus on infrastructure, compliance, and inclusion, India can consolidate its position as a global leader in fintech and regulatory technology”

Infrastructure & Commercial Design & Build 

By: Sammeer Pakvasa, Managing Director & CEO, Eleganz Interiors Limited.

“As we approach the Union Budget 2026–27, the focus for industries connected to India’s built environment must shift decisively from intent to execution. Over the past few years, strong momentum in commercial real estate, infrastructure, and workplace development has been driven by urbanisation, private sector investment, and government-led capital expenditure. The upcoming Budget presents an opportunity to consolidate this momentum through greater policy predictability, operational efficiency, and long-term capacity building.

For project-driven sectors such as interiors and general contracting, the most impactful outcomes are those that reduce execution-level friction. Faster approvals, clearer compliance frameworks, and deeper digitisation across regulatory processes can significantly improve delivery timelines and cost certainty, while strengthening ease of doing business. Continuity in infrastructure and urban development spending remains critical, particularly across commercial districts and transit-oriented development, given its strong multiplier effect across the value chain. Workforce development also deserves sharper focus, with industry-linked skilling, safety, and certification frameworks playing a key role in improving productivity and quality.

Sustainability and technology adoption must continue moving from intent to implementation. Incentives for green materials, lifecycle-based procurement, BIM, and advanced project management tools will accelerate responsible, efficient execution. For working-capital-intensive businesses, stability through clear tax structures and reduced compliance complexity remains essential. At Eleganz Interiors, our execution experience reinforces how policy clarity, skilled manpower, and disciplined systems translate into resilient, future-ready commercial environments aligned with India’s growth priorities.”

Hospitality, Travel & Tourism,  Homestays & Alternative Accommodation 

By: Husain Khatumdi, Managing Director & Co-Founder, EkoStay, a homestay venture

“With travel preferences in India undergoing a clear shift, the lead up to Union Budget 2026 27 places renewed attention on the hospitality sector, especially homestays and alternative accommodation. As travellers increasingly seek private, experience driven stays, this segment has emerged as a significant contributor to tourism growth, local employment, and the strengthening of regional economies. A key expectation from this Budget is formal recognition and standardisation of the homestay and vacation rental ecosystem. Clear classification, uniform guidelines across states, and simplified licensing would reduce operational ambiguity and support organised growth.

Tax rationalisation is another priority. Hospitality operates on thin margins while managing high fixed costs. A more balanced GST structure and smoother input credit mechanisms would allow operators to reinvest in quality, safety, and service consistency. Continued investment in tourism infrastructure, regional connectivity, and destination promotion is equally critical, especially for unlocking Tier II and Tier III markets.

At EkoStay, we believe Budget 2026 can strengthen this ecosystem by enabling sustainable expansion, formalisation, and long-term policy stability for experience-driven travel in India.”

Healthcare sector

By- Nivedita Basu, Founder & Chief Vision Officer, Global Cancer Care 

“As the Union Budget 2026–27 approaches, India’s healthcare system finds itself at a defining moment where growing intent must be matched with sustained, people-centric action. Public health spending has steadily increased and is estimated at around 1.9 per cent of GDP, yet it continues to fall short of the National Health Policy target of 2.5 per cent. This shortfall is critical in a system where out-of-pocket expenditure remains high and illness can still push families into financial distress.

The Union Budget 2025–26 took a positive step with a near 10 percent increase in health allocations, but rising disease burden and demographic shifts call for sharper focus on prevention and early intervention. From a cancer care perspective, late detection remains one of India’s most expensive healthcare failures. India records over 1.4 million new cancer cases annually, with a large proportion detected at advanced stages. Global evidence consistently shows that early detection significantly improves survival outcomes while reducing long-term treatment costs.

Healthcare must be treated as foundational to productivity, dignity, and economic resilience. Sustained investment in prevention, early detection, and accessible care will save lives while reducing the invisible economic burden on Indian families.”

HealthTech & Health sector

By: Apurv Modi, Managing Director & Co-Founder, Abhay Group

“Union Budget 2026 27 arrives at a defining moment for India’s healthcare journey when technology is no longer a support function but a system level enabler of access quality and efficiency. HealthTech today sits at the intersection of public health economic growth and digital governance. The upcoming budget has the opportunity to move the sector from momentum to maturity.

India has seen widespread adoption of teleconsultations e pharmacies home diagnostics and digital health records. However much of this progress remains fragmented. Budget 2026 27 should prioritise the shift from standalone pilots to interoperable platforms that work seamlessly across states providers and populations. Focused investment in digital infrastructure for Tier 2 Tier 3 and rural India including connectivity cloud capacity and last mile delivery will ensure technology translates into outcomes.

MSMEs form the backbone of HealthTech innovation yet face regulatory complexity, capital constraints and delayed approvals. Simplified compliance, faster validation pathways, affordable working capital and clear GST treatment for digital health solutions can significantly accelerate innovation without demanding subsidies.

India is now ready for the next phase of digital public health. Interoperable health data standards secure exchanges incentives for identified research data and stronger cybersecurity will enable early detection, smarter policy and preventive care. With the right policy push HealthTech can evolve from convenience to national capability and position India as a global innovation hub for the decade ahead.”

Advertising & Marketing , Creative Services, Services Economy 

By- Siddharth Jalan, Founder, SquidJC, a boutique marketing lab

“India’s services economy is entering a phase where growth alone is no longer the differentiator. As Union Budget 2026–27 approaches, the focus is shifting toward how much long term value the sector can create and retain. Across advertising and marketing, Indian firms today operate at the centre of business thinking. In fashion, consumer goods, BFSI, and education, agencies have moved from execution to shaping how brands are understood, trusted, and remembered. This shift matters because brands increasingly decide who competes globally and who falls behind.

In fashion and consumer businesses, brand strength drives pricing power and export readiness. In BFSI, communication builds confidence at scale as products become more digital. In education, credibility influences partnerships, mobility, and long term value. Creative services quietly shape outcomes though policy rarely reflects this. The budget must offer clarity through predictable taxation, simpler compliance, and smoother cross border operations. Agencies are talent and IP led firms where friction slows growth. IP creation is rising as brands invest in platforms, data, and AI tools. Clear IP rules would drive investment. Talent remains central. Applied skilling and AI education would strengthen the pipeline. Tax rationalisation would free capital for reinvestment. Budget support here matters. At SquidJC, we work with brands across fashion, consumer goods, BFSI, and education that are building for long-term relevance, both in India and globally. Union Budget 2026–27 has the opportunity to support this shift by backing clarity, capability, and ownership. A budget that understands the role of brands, IP, and creative services strengthens India’s position as a serious, value-led exporter of services.”

IoT & Power 

By:  Building India’s Next-Generation Digital Energy Infrastructure by Teppo Hemiä, Founder & CEO, Wirepas

“As India enters the next phase of its energy transition, Union Budget 2026–27 has an opportunity to strengthen how the country builds and operates its digital power infrastructure. While electrification and renewable integration have made strong progress, the focus must now shift to intelligence, resilience, and operational efficiency across the grid.

One of the most critical areas is power distribution, where the rapid rollout of smart meters, rooftop solar, electric vehicles, and distributed energy resources is increasing grid complexity. Budget support that accelerates Advanced Metering Infrastructure beyond billing use cases, toward grid operations, power quality monitoring, and demand-side flexibility, will unlock far greater value from existing investments.

Equally important is grid-edge intelligence enabled by interoperable, standards-based IoT connectivity. Supporting scalable, cost-efficient connectivity options and long-term lifecycle-efficient infrastructure will help utilities adapt to evolving requirements without repeated asset replacement. A forward-looking Budget can ensure India’s energy infrastructure is not only large-scale, but future-ready and resilient.”

Jewellery Sector

By- Anand Lukhi, Founder & CEO, Lukson, on budget expectations.

“India’s gems and jewellery industry is entering a new phase of transformation, shaped by shifting consumer values, sustainability priorities, and technological advancement. As Union Budget 2026–27 approaches, the sector finds itself at a pivotal moment, particularly with the growing adoption of lab grown diamonds. 

Budget 2026–27 should recognise lab-grown diamonds as a strategic sunrise segment, with continued rationalisation of duties on raw materials and equipment, and targeted incentives for advanced manufacturing. Such measures can lower entry barriers for MSMEs and accelerate ethical, future-ready diamond production.

Given the sector’s strong MSME backbone, simplified GST compliance, faster refunds for export units, and improved access to affordable credit would meaningfully strengthen cash flows and scalability. Equally important is investment in design-led skilling and technology adoption, ensuring India moves up the value chain from volume-driven exports to high-value branded jewellery. A balanced policy focus on manufacturing, sustainability, exports, and consumer trust can position India as a global leader in next-generation jewellery innovation.”

NIVEA Makes Its Lollapalooza India Debut With “Baddie But Softie” Campaign

Mumbai, Jan 16: NIVEA, one of India’s most trusted skincare brands*, is redefining how it connects with younger audiences by stepping into the world of music and live cultural experiences. With Gen Z seeing music as a powerful form of identity and self-expression, the brand is making its presence felt at Lollapalooza India 2026 – a cultural extravaganza, to build deeper, more relevant connections with the youth in an authentic, meaningful way.

Since the objective is to engage with the younger generation where they are present, music festivals rank right at the top- making Lollapalooza India the ideal platform to connect with the audience. NIVEA’s presence this year goes beyond mere visibility; it is rooted in meaningful engagement and cultural relevance.

The brand has introduced a personalised anthem, “Baddie But Softie,” designed to decode one’s music festival personality and turn it into a custom track. By answering a few simple questions about their festival vibe, users are identified as either a Softie or a Baddie. Based on their persona, users receive a song that reflects their unique festival identity. The idea celebrates the freedom to move between a softer, easy-going side and a bolder, more confident energy, with music and self-expression as the connecting thread.

Beyond the anthem, NIVEA has curated a range of engaging on-ground experiences- from dedicated booth and picture-worthy moments to a relaxation zone and immersive product interactions. The hero product on-ground will be NIVEA Soft UV, a moisturiser that offers both hydration and SPF protection, making it an ideal companion for outdoor music festival settings, alongside a host of other brand offerings. This year at Lollapalooza India, NIVEA offers something for every music lover, culture enthusiast, and NIVEA loyalist.

Geetika Mehta, Managing Director, NIVEA India, said,

 “Music is the moment in India right now, and young people are driving it. They express themselves through music, discover culture through it, and spend their time where the music is. NIVEA wants to meet them there. While our legacy of trust remains strong, staying relevant to young India is key. With NIVEA Soft UV, we’re showing up in a way that feels fresh and culturally in sync. Our presence at Lollapalooza India reflects this. We want young consumers to choose NIVEA not only for its legacy, but because it fits their world today. At the festival, they’ll experience hyper personalisation, AI led interactions and standout photo moments designed for this music powered generation.”

Samradha Tibrewala, Head – Partnerships and Revenue, BookMyShow, said,

“What resonates with younger audiences today is not brand messaging, but brand intent. When a leading brand like NIVEA chooses to step into a space like Lollapalooza India, it signals an understanding that culture is no longer something to observe from the sidelines – it’s something to participate in. Music festivals have become modern town squares for Gen Z, where identity, creativity and community converge. Collaborations like these underscore how live experiences are increasingly where brands earn relevance, not through visibility alone, but through presence that feels natural to the world audiences inhabit today.”

Set to take place on 24–25 January at Mahalaxmi Race Course, Mumbai, Lollapalooza India 2026 promises an immersive cultural experience with NIVEA seamlessly woven into the festival experience.