Business conglomerate Godrej Industries Ltd on Tuesday reported an 81 per cent increase in consolidated net profit at Rs 322.49 crore for the April-June quarter of 2024, on higher income.
Its net profit stood at Rs 178.06 crore in the year-ago period.
Total income increased to Rs 5,259.41 crore in the April-June period of 2024-25 fiscal, from Rs 4,893.40 crore in the corresponding period of the previous year, according to a regulatory filing.
Godrej Industries has presence in chemicals, estate management (real estate), finance & investments.
On business performance of its subsidiaries, joint ventures and associate companies, Godrej Industries said the consolidated sales of Godrej Consumer Products Ltd (GCPL) stood at Rs 3,311 crore in the first quarter of this fiscal.
Godrej Properties' total Income grew to Rs 1,638 crore in April-June period of this fiscal, from Rs 1,315 crore in the year-ago period.
Godrej Agrovet's total income declined to Rs 2,360 crore in the period under ..

Godrej Industries has presence in chemicals, estate management (real estate), finance & investments

Patel Engineering Ltd on Tuesday reported a 25.81 per cent rise in its consolidated net profit to Rs 48.17 crore in the April-June quarter of 2024.
It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing.
The company's revenue from operations declined by 1.52 per cent to Rs 1,101.66 crore in the June quarter.
It was at Rs 1,118.61 crore in the year-ago period.
Patel Engineering's Managing Director Kavita Shirvaikar said, "Our focus remains on delivering long-term value for our stakeholders while continuously enhancing operational efficiency and output."
"With this strong foundation in place, we are poised to build a brighter future for Patel Engineering Limited and creating lasting value for India's infrastructure development," she added.
The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing

Nykaa Q1FY25 results: Ebitda surged over 30% Rs 96 crore in April-June quarter compared to Rs 73 crore last year

Essar Group's IT arm Black Box expects the share of India business to grow by 1-2 percentage points in its course to become a USD 2 billion revenue company by 2027-28, a top official of the company said.
The company specialises in building IT infrastructure for critical technology applications including hyperscaler data centres and planning to bring its learning to the Indian market as many of the company's global customers are looking to invest in the country, Black Box CEO Sanjeev Verma told PTI.
He said that the company plans to increase employee headcount across all levels in India to around 1,000 people from about 600 people at present.
"Currently, India is 6 per cent of our business. We do not expect it to become much larger, but if we have to go to USD 2 billion then it will be significantly important for us to move it to 7- 8 per cent," Verma said.
The company has reported revenue of around USD 750 in FY2024.
Verma said that Black Box want to bring some value to India base

Sanjeev Verma, CEO, Blackbox

Black Box has a network of 75 delivery centres of which 21 are located in the US and 14 in India. Globally, the company has a workforce of over 4,000 people spread across 35 countries

ICRA ESG Ratings Limited has assigned its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company.
ICRA ESG received registration as a Category-I ESG Rating Provider (ERP) from the Securities and Exchange Board of India (SEBI) earlier this fiscal. ICRA ESG was formerly known as Pragati Development Consulting Services Limited (PDCSL).
"InCred Financial Services Limited, a Non-Banking Financial Company (NBFC) focused on personal loans, student loans, and business loans, has been assigned a rating of [ICRA ESG] Impact 57, Moderate," said ICRA ESG Ratings Limited (ICRA ESG), a wholly-owned subsidiary of ICRA, in a release.
It further said the ICRA ESG-assigned ratings help investors assess the non-financial risks and opportunities associated with entities and facilitate making better investment decisions, paving the way for a more sustainable and responsible investment landscape.
These ratings also help the rated entity gai

ICRA

ICRA ESG-assigned ratings help investors assess the non-financial risks and opportunities associated with entities and facilitate making better investment decisions

Public sector Indian Overseas Bank has secured the Rajbhasha Kirti Pratham Puraskar first prize for the second consecutive year in the Official Language Implementation category for 2023-24 by the Ministry of Home Affairs.
The recognition underscores the commitment of the city-headquartered bank in promoting the use of Hindi language and enhancing the implementation of official language policies across its operations.
Union Home Minister Amit Shah presented the award to the bank's Managing Director and CEO Ajay Kumar Srivastava in New Delhi at a function to mark the Hindi Day Celebrations and the Diamond Jubilee of Official Languages, a press release from the Bank said.
Indian Overseas Bank currently has 3,264 branches, 3,500 ATM network and 7,251 business correspondents. It also offers its service in Singapore, Hong Kong, Thailand and Sri Lanka.
The Ministry of Home Affairs introduced the Rajbhasha Kirti Puraskar award scheme to encourage the implementation of the official language

Indian Overseas Bank, IOB

Indian Overseas Bank currently has 3,264 branches, 3,500 ATM network and 7,251 business correspondents. It also offers its service in Singapore, Hong Kong, Thailand and Sri Lanka

Realty firm Gaurs Group will invest around Rs 1,600 crore to develop a new luxury housing project in Ghaziabad, Uttar Pradesh, as part of its plan to expand business amid strong demand.
The company has already launched and sold all 1,216 apartments in this project 'Gaur NYC Residences', which is spread over 12-acre land in Ghaziabad.
"We have sold the entire 1,200 units within three days of launch. The total sales value we generated was Rs 3,100 crore," Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said.
Gaur, who is also Chairman of realtors apex body CREDAI, highlighted that there was a huge demand for this project and the company received more than 3000 expressions of interest from customers who wanted to purchase.
"For transparency, we allotted the flats through lottery conducted live on YouTube platform," Gaur said.
When asked about project cost, he said the total investment will be around Rs 1,600 crore and out of that Rs 1,200 crore would be on pure constructi

real estate

The company has already launched and sold all 1,216 apartments in this project 'Gaur NYC Residences', which is spread over 12-acre land in Ghaziabad

With the Adani Group winning a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra, the Congress on Sunday alleged that it was a "rigged deal" facilitated by the Mahayuti government, which it claimed was "tottering towards a landslide defeat" in the upcoming assembly polls.
The opposition party's attack came after the Adani Group won a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra for the long term after its quote of Rs 4.08 per unit beat the likes of JSW Energy and Torrent Power.
Reacting to the development, Congress general secretary in-charge Jairam Ramesh said, "Even as the Mahayuti Government in Maharashtra totters towards a landslide defeat, this is what they choose to do with their last few days in power. Yet another Modani enterprise undoubtedly!"
"Shocking details of this rigged deal will soon start tumbling out," Ramesh said in X.
Supplies are to start in 48 months from the date of award of the letter of intent.
Lat

Jairam Ramesh, Jairam

With the Adani Group winning a bid to supply 6,600 Opposition party's attack came after  Adani won a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra for long term after it

Raj Singh Gehlot, promoter of the Ambience Group, was arrested on July 28, 2021, in connection with the money laundering case related to alleged bank loan fraud

Patiala House Courts

Social media giant Meta counts India among its key priority markets globally, as the rising popularity of its offerings - from Reels to business messaging - and increased engagement on AI tools is supercharging growth, according to Meta India Vice President Sandhya Devanathan.
In an interview with PTI, Devanathan said India is the leading market for short-form video Reels' watch-time on Instagram. The Facebook and Instagram parent Meta is upbeat about the pace and extent to which Reels has caught on with creators and brands alike.
"Reels is big for Meta globally, but Reels is certainly huge for Meta in India," Devanathan said.
Having recognised the power of Reels in influencing buying decisions, brands are including it early in their campaign blueprint and customer outreach plans, Devanathan said.
According to her, Reels is now in the consideration set for brands as they conceptualise their campaigns, marking a big shift in the way campaigns are being designed.
"Not only are we se

Sandhya Devanathan, India V-P, Meta

Having recognised the power of Reels in influencing buying decisions, brands are including it early in their campaign blueprint and customer outreach plans, Meta India Vice President said

"We are equipping them with valuable insights and strategies to thrive in the 11th edition of The Big Billion Days," said Sakait Chaudhary, business head - Marketplace, Flipkart

Flipkart

Studies show that loneliness transcends age, affecting everyone from the teenagers to the elderly

People gathered through the MeetUp application at New Delhi’s Cha Bar café 	photo: anushka Bhardwaj

People gathered through the MeetUp application at New Delhi's Cha Bar café 	photo: anushka Bhardwaj

The funds will be used to propel InMobi's artificial intelligence (AI) development and deployment efforts forward and fund potential AI-focused acquisitions

Naveen Tewari, Co-founder and CEO of inMobi

Founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, Nestasia offers a curated selection of home decor and lifestyle products across six key categories

Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors. This funding will scale the company’s efforts in offline store expansion,

Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors. This funding will scale the company's efforts in offline store expansion,

India's skilled workforce and rise of global capability centres helping demand for commercial real estate, says Karan Singh Sodi

Karan Singh Sodi, senior managing director of the Mumbai metropolitan region and Gujarat and head of alternatives, India, at global real estate investment manager JLL

Rowe talks about Syngenta's strong presence in India for a long time

Jeff Rowe, CEO, Syngenta

We also have agreements with technology providers who have committed to sourcing their chip requirements from India, Panicker said

aghu Panicker, CEO, Kaynes SemiCon

Agarwal talks about the plans to make The Man Company a Rs 1,000 crore brand, and the focus going ahead

Harsha V Agarwal, vice chairman and managing director, Emami

He says AI provides a huge opportunity for Indian languages to expand their reach

Vishnu Vardhan, founder, SML Generative AI

BYD plans to expand its sales touchpoints, aiming to double their number within the next 6 to 8 months, Rajeev Chauhan said

Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business, BYD India

There is a vast universe of fintechs out there and we would be reaching out to everyone to be a part of FACE. We do not have a threshold of scale or business model, said Sugandh Saxena, CEO, FACE

Sugandh Saxena, CEO, FACE

The coffee penetration in the country is around 14-15 per cent, and at a cafe level, around 25 per cent for the affluent section

Sushant Dash, CEO, Tata Starbucks

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