Tag Archive for crore

Aditya Birla Finance receives Rs. 1,000 Crore, 7-year ‘green’ loan from IFC

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

IFC, a member of the World Bank Group, has extended a 7-year longterm loan of Rs. 1,000 crore to Aditya Birla Finance Ltd. (ABFL), the NBFC arm of Aditya Birla Capital Limited (ABC). ABFL is a well-diversified non-banking finance company (NBFC) with a long term credit rating of AAA from both ICRA as well as India Ratings. ABFL will use the proceeds to finance renewable energy projects and help the country move towards its target of 175 GW of renewable energy capacity by 2022.

The IFC green loan, sanctioned in March 2018, is an Indian rupee loan under Track III of the Reserve Bank of India’s guidelines for external commercial borrowings.

India’s power sector is one of the largest in the world, but the country’s per capita consumption of electricity is less than a fourth of the global average. The government wants to provide electricity 24×7 to the entire country by 2019, while minimizing the impact on the environment. For that, it plans to increase the renewable energy capacity to 175 GW, comprising solar, wind, biomass, and small hydro, by 2022.

“We are delighted to partner with IFC, with which we have a very good relationship. This is not just about a loan but also about being able to access the expertise that IFC has in this area and together making a small difference to the energy requirements of our country,” said Mr. Ajay Srinivasan, Chief Executive of Aditya Birla Capital. Read more

NTPC Ltd. pays Final Dividend of Rs. 1,970.67 crore for FY 2017-18

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

NTPC Ltd. pays Final Dividend of Rs. 1,970.67 crore for FY 2017-18

For the financial year 2017-18, NTPC Ltd. has paid a final dividend of Rs. 1,970.67 crore, being 23.90% of the paid-up equity share capital of the Company.

The RTGS advice for the transfer of Rs. 1,217.29 crore to Government of India, being the share of Government of India in the final dividend, was presented to Shri R.K.Singh, Hon’ble Minister of State (Independent Charge) for Power and New & Renewable Energy by Shri Gurdeep Singh, CMD, NTPC, in the presence of Sh. A.K.Bhalla, Secretary (Power) from Ministry of Power and Shri K Sreekant, Director (Finance), Shri Saptarshi Roy, Director (Human Resources), Shri. S.K.Roy, Director (Projects), Shri Prakash Tiwari, Director (Operations) and Shri Prasant Kumar Mohapatra, Director (Technical) from NTPC Ltd. Read more

Srei reports consolidated PAT of Rs 139.55 crore during Q1FY19 versus Rs 65.15 crore during Q1FY18

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Srei Infrastructure Finance Limited (“Srei”), one of India’s largest holistic infrastructure institutions, has reported a consolidated profit after tax (“PAT”) of Rs 139.55 crore during the quarter ended June 30, 2018 as compared to Rs 65.15 crore during the corresponding quarter of last year.

 

In line with direction from Ministry of Corporate Affairs, Srei has adopted Indian Accounting Standards (“IND AS”) with effect from April 1, 2018. Financial results for the quarter ended June 30, 2018 are prepared and reported in compliance with IND AS requirements. For the same quarter of previous year, figures have been revised as per IND AS requirements.

 

Under IND AS, provisioning on loans is done as per Expected Credit Loss (ECL) methodology based on three stages, being , Performing Assets (Stage 1), Under-Performing Assets (Stage 2) or Non – Performing Assets (Stage 3). Stage 3 assets are restricted not just to NPAs (Above 90 DPD) but also include AAD, NCLT and Restructured Assets (S4A , CDR, SDR).  The company has provided accelerated provisioning on loans and investments under IND AS, which has been adjusted against opening reserves during IND AS transition. Currently, the company has accomplished adequate provisioning and this quarter’s result reflects a steady state profitability and improved ROE. Read more

35th India International Jewellery Show (IIJS) – Registers a healthy 8k crore order book IIJS, Asia’s leading Gem & Jewellery trade exhibition organised by GJEPC concludes providing healthy lifeline to trade at a crucial time

Share/Bookmark

By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Mr Pramod Agarwal, Chairman, GJEPC, Ms Nirupa Bhatt, India MD, Gemmological Institute of America, Mr Colin Shah, Vice President, GJEPC, Mr Shailesh Sangani, Convener, National Exhibitions, GJEPC, Mr Sabyasachi Ray, Executive Director, GJEPC and Dr Gaetano Cavaleri, President CIOBJ, The World Jewellery Confederation at the inaugural ceremony of 35th Edition of India International Jewellery Show (IIJS) 2018 at Mumbai today. The event started with auspicious Indian traditional lamp lighting ceremony.

The 35th edition of the India international Jewellery Show IIJS organised by GJEPC concluded in Mumbai today with a note of positivity and cheer for the entire trade. IIJS, a premium annual event received all round support with over 40,000 visitors from over 800 cities across 80 countries attending and previewing exhibitions of over 1300 exhibitors.

 

GJEPC had organised a Prelude to IIJS, jewellery fashion extravaganza by the IIJS 2018 Exhibitors to showcase their exquisite jewellery collections to crème de la crème audience comprising of leading retailers, design houses & International buyers visiting IIJS 2018. This was an excellent opportunity for buyers to get an overview of the new and innovative designs and trends from the exhibitors of IIJS 2018. Read more

Radio City Continues to Influence the Nation with Highest Listenership of 6.7 Crore Indians as per the Latest AZ Research Findings

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Radio City, India’s leading radio network has once again emerged as the number 1 FM broadcaster as per the recent AZ Research Baseline Study 2018. With listenership amassing a whopping 6.7 crores across 34 markets, Radio City has consolidated its PAN India leadership position and reiterated its popularity amongst radio fans in the country.  The report summarizes city wise as well as zone wise listenership data and shows trends in each part of the country.

Radio City achieved the highest listenership of 86 lakhs in Mumbai and topped the charts in Pune (40 lakh), Nagpur (20 lakh), Nagar (7 lakh), Baroda (11 lakh), Surat (35 lakh) and Jaipur (19 lakh), thereby achieving the highest listenership of 2.9 crores in the West zone. Similarly, the South Zone and North Zone also witnessed Radio City dominating the markets with top listenership of 1.8 crores and 1.9 crores respectively. Some of the noteworthy highlights of this performance include Radio City attaining the highest listenership of 59 lakhs and 103 lakhs in Bangalore and Delhi respectively.

Radio City’s continued dominance in listenership is a direct reflection of the successful philosophy of ‘Rag Rag Mein Daude City’ that aims to invoke the feeling of city passion amongst the citizens. It also galvanizes a stronger emotional connect through a ‘micro local’ content approach that depicts the city’s fabric, culture and nuances. Read more

Max Life Insurance to distribute Rs. 1,084 crore as bonus to its participating policyholders

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Max Life Insurance, one of the leading life insurance companies of India, announced bonus for its participating policyholders. During the period July 1, 2018 to June 30, 2019, Max Life Insurance will be paying Rs.1,084 crore as policyholder bonus on the participating policies in-force, an increase of 27% over Rs. 854 crore in the same period in the previous year. The bonus distribution will benefit ~15 lacs participating policyholders of Max Life Insurance. This is the 16th year in a row when Max Life Insurance has announced bonus.

 

Max Life Insurance’s participating policyholder fund at Rs. 26,570 crore (as on 31st March, 2018) is one of the largest in the industry and has grown at Compounded Annual Growth Rate (CAGR) of  ~35% over 10 years. This indicates trust Max Life’s customers have reposed in its participating plans. Read more

NTPC Inks Rs. 1,500 crore Term Loan with HDFC Bank

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

NTPC Signs Term Loan of Rs 1500 crore with HDFC Bank

NTPC, India’s largest power generating company, has signed term loan agreement for Rs. 1,500 crore with HDFC Bank Limited on 10th July, 2018 for its various projects. The loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC and has been extended at an interest rate linked to 3-months Marginal Cost of funds based Lending rate (MCLR) of the bank. Read more

Poonam Pandey to get Rs 1 crore for Football Final Match

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Poonam Pandey

Poonam Pandey is all set to attend  the screening of final football match on 15th July  at an event in ASia’s Biggest Club in Nepal.
The actress will reportedly get a hefty amount of Rs 1 crore for the event taking place in Nepal at Club Dejavu, Kathmandu.
Managing director of the Club Manoj Shrestha said, “It was a delight to have Poonam agree to attend the screening and Cheer with the audience for football final match.” Read more

Satin Creditcare raises ₹500 crore from NABARD as Refinance Facility

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Satin Creditcare Network Limited (“SCNL”) [BSE: 539404; NSE: SATIN] the second largest microfinance company in the country, has received a fresh disbursement of ₹500 crore from NABARD in the form of refinance facility for tenure of 5 years. The funds raised will be used for further growth in AUM of SCNL.

Commenting on the transaction, Mr. H P Singh, Chairman and Managing Director – SCNL, said, “Association with NABARD is helping SCNL to reduce the cost of borrowings and lending rates to the ultimate borrowers. Lower lending rates will accelerate the pace of our mission of financial inclusion.”

SCNL has been raising funds through various instruments, such as Term Loans, NonConvertible Debentures (NCD), Preference shares, Commercial Paper and Securitization/assignment, etc., in keeping with its strategy to diversify its resource profile. Read more

Lifeasy turns Cash Positive, targets ₹50 crore revenue by 2020

Share/Bookmark

By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Lifeasy, India’s leading On-Demand home services app, is now a cash positive organization- the first in the On-Demand Home Services Industry.

Speaking on the development, Rakesh Gupta, Co-Founder Lifeasy, said, “In a span of 2 years, Lifeasy has endeared itself to its users and subscribers. We have gathered our learnings from every single one of the 30,000+ services & deliveries that we have done so far. We are sure that our consumers will continue to place their faith in us and that Lifeasy will go ahead full steam with the varied offerings & plans that we will have in the coming future”.

Lifeasy is about making people’s life easy by letting them worry- one thing less at a time. With services ranging from cleaning to repairing to painting and others, Lifeasy is not a marketplace or an aggregator in a category crowded by the likes of UrbanClap or Housejoy. Only two years old, Lifeasy is a bootstrapped between its Founders. While FY 2016- ‘17saw 4000 completed orders, FY 2017-18 saw over 25,000 and a revenue stream of Rs. 3.25 Crores.

The current basket from Lifeasy works across 200 types in 18 categories. The variety ranges from repairing leaking taps to old furniture. From fixing electrical issues to appliance repair, home painting & cleaning services, personal care services and much more. Currently serving in the Delhi-NCR region (Delhi, Noida Greater Noida, Gurgaon, Ghaziabad & Faridabad), Lifeasy is a bootstrapped operation- having started with only Rs. 1.25 Cr. and will eventually move in to raise funds to accelerate its growth path. The expansion plans include expanding into the Bengaluru & Mumbai spaces after the Delhi-NCR market and expand its basket of services, so that Lifeasy becomes the partner of choice for any service at any home.

With a target of reaching the Rs. 50 Cr revenue mark by Q1-2020, Lifeasy plans to scale up with a daily service execution of 500-600 per day in the immediate future and going to 1500 services per day with the addition of the new cities- having services over 30,000 customers already in FY 2017-18 (inward revenue of Rs.3.25 Cr). Read more