Expenses

Valor Estate Q1 result: Loss narrows to Rs 13.6 crore on higher expenses

Realty firm Valor Estate Ltd has posted a consolidated net loss of Rs 13.60 crore in the first quarter of this fiscal year on higher expenses and eyes Rs 6,000 crore revenue from joint developments with L&T Realty and Lodha Group. Its net loss stood at Rs 22.54 crore in the year-ago period. Total income rose to Rs 93.12 crore in April-June period of this fiscal year from Rs 8.69 crore in the year-ago period, according to a regulatory filing on Augsut 13. The company's total expenses jumped to Rs 108.99 crore from Rs 33.06 crore. Valor Estate Ltd, formerly DB Realty Ltd, is one of the leading real estate developers in Mumbai, has an existing portfolio of 100 million square fete of real estate, and is focusing on residential and commercial developments. The company said it has "recently executed binding agreements...with L&T Realty and Lodha Group to develop 5.7 million square feet carpet area with Rs 6,000 crore potential revenue to Valor Estate". Shahid Balwa, Vice Chairman ...

TeamLease Q1 results: Net profit drops 21.3% to Rs 20.79 cr on weak demand

Revenue from its specialised IT staffing services business climbed 3.6 per cent, whereas that from its general staffing business rose 20 per cent

Big fat Indian wedding: At Rs 10 trn, expenses 2nd only to food, grocery

The Indian wedding industry size of approximately Rs 10 lakh crore (USD 130 billion) is second only to food and grocery, with an average Indian spending twice on marriage ceremony than education, a report said. India sees 80 lakh to 1 crore weddings annually compared to 70-80 lakh in China and 20-25 lakh in the US. "The Indian wedding industry is nearly double the size of the industry in the US (USD 70 billion), albeit smaller than China (USD 170 billion)," brokerage Jefferies said in a report. Weddings are the second largest consumption category in India. "Weddings, if they were a category, would rank as the second largest retail category only behind food and grocery (USD 681 billion)," it said. Weddings in India are elaborate and characterised by a range of ceremonies and spending. The industry spurs consumption in categories like jewellery and apparel and indirectly benefits autos and electronics. Despite political efforts to curb them, luxury weddings at exotic locations continu

6-7% of overall annual expenses are on tech related aspects, says HDFC Bank

Country's largest private sector lender HDFC Bank spends 6-7 per cent of its overall expenses on technology-related aspects every year, a senior official said on Tuesday. Parag Rao, HDFC Bank head for payments and consumer finance, said the bank has been investing in digital capabilities amid "cloudification", where tasks are moved to the cloud. The comments come amid greater regulatory scrutiny on the technology front. "We spend about 6-7 per cent of our overall expenses on technology," he told reporters here on the sidelines of a digital credit card launch of the bank. He explained that the spends go up initially when the capital expenditure is higher and then go down gradually. About 50 per cent of the spend is on employees, while the rest is on remaining aspects like hardware, software and keeping the network operational, he said. It can be noted that HDFC Bank was the first major lender to be slapped with business restrictions like a pause on issuing new credit cards and als

Budget: Rs 1,249 cr for salaries of union ministers, guest entertainment

The interim budget 2024-25 on Thursday allocated Rs 1,248.91 for the expenses incurred by the council of ministers, cabinet secretariat, prime minister's office, and on hospitality and entertainment of State guests. The allocated amount is substantially lower than Rs 1803.01 crore earmarked in 2023-24. A total of Rs 832.81 crore has been given for the expenses of council of ministers (Rs 1289.28 crore in 2023-24). The provision is for expenditure on salaries, sumptuary and other allowances and travel by cabinet ministers, ministers of state and ex-prime ministers. This also includes provision for special extra session flight operations for VVIPs. The National Security Council Secretariat has been allocated Rs 200 crore (Rs 299.30 crore in 2023-24). The provision is for meeting the administrative expenses and space programme of the National Security Council Secretariat. As much as Rs 76.20 crore has been given to the office of principal scientific advisor (Rs 75 crore in 2023-24).

Fiscal deficit for Apr-Nov narrows to 50.7% at Rs 9.07 trillion: Govt

Earlier this month, finance minister for state Bhagwat Karad said that the Centre was confident of meeting the fiscal deficit target of 5.9% in FY24

College graduates doing two jobs to manage monthly expenses in China

"The work is meaningless, and the process is very painful," he said

Insured cannot claim same expense twice

The National Commission concluded that reimbursement for the same head of expense, namely surgeon's fees, cannot be claimed twice

Wockhardt loss widens to Rs 136 cr in Q1 due to higher expenses

Pharmaceutical firm Wockhardt Ltd on Monday said its consolidated loss after tax widened to Rs 136 crore in the June quarter due to higher expenses. The company had posted a consolidated loss after tax of Rs 75 crore in the year-ago period, Wockhardt Ltd said in a regulatory filing. Consolidated revenue from operations stood at Rs 644 crore in the first quarter of the current fiscal as compared to Rs 595 crore a year ago, it added. Total expenses were higher at Rs 762 crore as against Rs 748 crore in the corresponding quarter a year ago, the company said.

More than 70% of working women contribute to household expenses: Survey

Nearly half of working women learned about personal finance from social media, it says

Cut financial flab to navigate your way through a turbulent job market

Curtail discretionary expenses and avoid fresh loans amid the current uncertainty

Sterling and Wilson Renewable Energy net loss narrows to Rs 99 crore in Q3

The company had reported a consolidated net loss of Rs 428.78 crore in the year-ago period, according to a regulatory filing

Maximise reward points by using the right card for your each spend

Beware that on some expenses you could be levied a fee for card usage

Reduced logistics expense under NLP to benefit customers: Flipkart

Increase in efficiency and reduction in logistics expenses with the newly-launched National Logistics Policy will benefit customers by making products available at lower cost, e-commerce company Flipkart said on Monday. Prime Minister Narendra Modi on Saturday unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, he had said the policy aims to expedite the last-mile delivery, helping businesses save time and money. "The National Logistics Policy is a welcome move and this along with PM Gati Shakti plan will help build a more resilient logistics ecosystem in the country. Along with improving efficiency across the value chain, it will also result in a considerable reduction in logistics costs from their present level, thereby benefiting the end customer with lower costs," Flipkart Group Chief Corporate Affairs Officer Rajneesh ..

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

NMDC Q4 consolidated net profit falls 36% to Rs 1,813 cr on higher expenses

During the quarter under review, the company's total income rose marginally to Rs 7,034.83 crore, from Rs 6,932.75 crore in the year-ago period

Over 80% families say no to big spends in 2022: LocalCircles survey

Six per cent families were planning to buy an electric vehicle, slightly behind those interested in buying a petrol car at seven per cent

Cognizant India's profit falls 40%, revenue dips 5% in FY21: Tofler data

Revenue for the financial year 2021 was Rs 29,682 crore, a fall of nearly 5 per cent from the revenue in the previous year.

Avail of cash scheme if you have planned expenses in festive season

Employees need not miss out on LTC benefit in the current block of 4 years

Limit expenses or won't sanction them: CBDT to HoDs in cost-cutting drive

Issues letter to heads of department asks to adhere to financial power