Press release from Business Wire India
Source: Ingenico
Monday, January 31, 2011 08:00 PM IST (02:30 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Retailers
--------------------------------------------------
Ingenico Enables Access to the Rural Population for FINO in India
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- Ingenico (Euronext : FR0000125346 - ING), leading worldwide provider of payment solutions, joined hands with Financial Inclusion Network & Operations (FINO) in India to help them deliver Micro finance & NREGS (National Rural Employment Guarantee Scheme) payment solutions to the under-served and the unbanked sector. FINO uses Bandhus"/ agents to reach out to the rural and far flung areas to carry out secure financial transactions for multiple banks, state and central government social upliftment schemes and Microfinance agencies with the help of Ingenico handheld Biometric POS terminals. Over 25,000 Ingenico's Bio930G terminals of Ingenico have been deployed by FINO till date out of which, over 7.000 successfully deployed in the last quarter of 2010 for NREGS. The deployment of terminals continues in 2011.
FINO provides turnkey technological solutions to institutions such as Banks, Insurance companies, Government Social Schemes, Microfinance Institutions, and Corporate Enterprises, enabling them to take their financial products and services to the doorstep of millions of unbanked and under-banked households across India. In order to make complete financial inclusion a reality, FINO relies on Ingenico's technology for authentication and authorization of the business correspondent and the customers which represents one of the largest challenges of any financial inclusion effort.
"Our ongoing collaboration with Ingenico has enabled us to provide world-class proven biometric technologies for delivering payment solution for financial institutions and NREGS like Government schemes, taking doorstep banking and Government social schemes benefits to the underprivileged in the remotest parts of India. This contributes towards making Financial Inclusion a reality. The successful deployment of over 7000 Bio930G using strategic customized biometric application for NREGS government wage disbursement in rural areas has put FINO solutions with Ingenico's Bio930G miles ahead of the several technologies experimented in India for government social disbursements and financial inclusion programs" says Manish Khera, Chief Executive Officer, FINO.
Currently over 11000 Bandhus/Agents associated with FINO are carrying Ingenico's Bio930G, servicing approximately 25 Million enrolled customers through highly secure, reliable, robust and integrated handheld POS terminal to remote locations and are seamlessly processing millions of financial transactions for the millions of customers.
"We are very proud to be associated with FINO, which is a phenomenal success in India's efforts to propagate financial inclusion of the under-served and under-banked. FINO's effort in providing reliable payment solution for government NREGS scheme for disbursement of wages across rural areas has been true demonstration of usage of technological excellence and benefits the underprivileged society. This is a testimony of Ingenico's leadership in the payment solutions space, even as we look at leveraging Ingenico's world class technologies and ideas to bring about tangible changes to society in general," says Vivek Sagar, Chief Executive Officer, Ingenico International India Pvt Ltd.
The BIO930G wireless POS terminal provides FINO's Bandhus/Agents the freedom to acquire, process and verify biometric data on the move - and conveniently undertake secure biometric transactions wherever they are while providing the transaction report at the time of the transaction. Designed to simplify user identification and authentication, and make it easy to integrated biometric control into a wide range of payment, government wage payments and micro credit applications, the Bio 930 family of terminals seamlessly optimize the entire biometric control process, thereby enabling FINO to deliver a large range of financial and banking services to the rural population.
About FINO
FINO is working to achieve total financial inclusion in the country by not only providing a complete technology payments platform but also managing the cash on the field through its agent (bandhu) network spread across the country, On the front end the FINO platform is working on POT-Card and Mobile infrastructure. The Company has a comprehensive product suite ranging from savings bank accounts, loan products, recurring deposits, remittances, insurance products, government disbursements etc. FINO at present has a customer base of 25 million customers and is currently acquiring incrementally over 50,000 customers per day. FINO is doing more than 4.5 million transactions per month through its network of 11,000 agents spread in 23 states and more than 293 districts in the country. FINO has an alliance with Axis Bank, Corporation Bank, HDFC Bank, ICICI Bank, ING Vyasa Bank, OBC, PNB, SBI and Union Bank of India. The company is also involved in government-funded schemes such as the National Rural Employment Guarantee Act and the Rashtriya Swasthya Bima Yojana through ICICI Lombard.
About Ingenico (Euronext: FR0000125346 - ING)
Ingenico is a leading provider of payment solutions, with over 15 million terminals deployed in more than 125 countries. Its 3,000 employees worldwide support retailers, banks and service providers to optimize and secure their electronic payments solutions, develop their offer of services and increase their point of sales revenue. More information on www.ingenico.com.
CONTACT DETAILS
Heena Kapoor, Mutual PR, +091 8860898280, heena@mutualpr.com
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, RETAIL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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Monday, January 31, 2011
BWI: IDFC Consolidated Net Profit Increased by 19% in 9M FY 2011 over 9M FY 2010
Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Monday, January 31, 2011 07:50 PM IST (02:20 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Stock exchanges
--------------------------------------------------
IDFC Consolidated Net Profit Increased by 19% in 9M FY 2011 over 9M FY 2010
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- Highlights of 9M FY 2011
-- Profit After Tax of Rs. 995 crore for 9M FY 2011 compared to Rs. 834 crore in 9M FY 2010
-- EPS (diluted) increased from Rs. 6.38 per share to Rs. 6.87 per share : an increase of 8%
-- IDFC is notified as Infrastructure Finance Company by the Reserve Bank of India
-- IDFC raised Rs. 2,654 crore through the QIP route by allotment of equity shares to QIBs and Rs. 840 crore of capital through a preferential issue of CCCPS.
-- Balance sheet size as on December 31, 2010 - Rs. 48,030 crore : an increase of 53%
-- Net NPAs at 0.11% of outstanding loans; No new NPA during 9M FY 2011
-- Net Interest income (NII) of Rs. 1,171 crore : an increase of 47%
-- Non Interest Income of Rs. 729 crore : an increase of 7%
-- Assets under management - USD 6.1 billion
At its 81st Board Meeting held on January 31, 2011, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to December 31, 2010.
Profit After Tax for IDFC standalone increased by 27% from Rs. 734 crore in 9M FY 2010 to Rs. 930 crore in 9M FY 2011. However, profitability of the core lending business (excluding income from principal investments) over 9M FY 2010 increased by more than 50%.
INCOME
-- Net Interest Income (NII) increased by 47% from Rs. 797 crore in 9M FY 2010 to Rs. 1,171 crore in 9M FY 2011.
- Net Interest Income (NII) from infrastructure loans increased by 47% from Rs. 731 crore in 9M FY 2010 to Rs. 1,076 crore in 9M FY 2011.
- Net Interest Income from treasury operations increased by 46% from Rs. 65 crore in 9M FY 2010 to Rs. 95 crore in 9M FY 2011.
-- Non Interest Income increased by 7% from Rs. 680 crore in 9M FY 2010 to Rs. 729 crore in 9M FY 2011.
- Fees from IDFC's asset management business decreased by 3% from Rs. 209 crore in 9M FY 2010 to Rs. 203 crore in 9M FY 2011.
Income from Investment banking and broking activity increased by 22% from Rs. 132 crore in 9M FY 2010 to Rs. 161 crore in 9M FY 2011.
- Income from principal investments decreased by 31% from Rs. 234 crore in 9M FY 2010 to Rs. 162 crore in 9M FY 2011.
- Loan related and other fees increased by 94% from Rs. 105 crore to Rs. 203 crore.
PROFITS
-- Profit before tax (PBT) increased by 21% from Rs. 1,128 crore in 9M FY 2010 to Rs. 1,367 crore in 9M FY 2011.
-- EPS (diluted) increased by 8% from Rs. 6.38 per share to Rs. 6.87 per share.
-- After accounting for tax andb share of profit in associate company, the profit after tax (PAT) increased by 19% from Rs. 834 crore in 9M FY 2010 to R
BALANCE SHEET
-- The balance sheet size grew by 53% from Rs. 31,328 crore as at December 31, 2009 to Rs. 48,030 cr -- Net Loan book increased by 51% from Rs. 23,190 crore to Rs. 35,021 crore.
-- Exposure was Rs. 57,558 crore as on December 31, 2010.
To view the tables, please click on the link given below:
Unaudited Financial Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/1.pdf
1.pdf
CONTACT DETAILS
Mr. K.V. Venkatrama, Infrastructure Development Finance Company Limited, + 91 (22) 42222020 , venkatraman.kv@idfc.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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Source: Infrastructure Development Finance Company Limited
Monday, January 31, 2011 07:50 PM IST (02:20 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Stock exchanges
--------------------------------------------------
IDFC Consolidated Net Profit Increased by 19% in 9M FY 2011 over 9M FY 2010
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- Highlights of 9M FY 2011
-- Profit After Tax of Rs. 995 crore for 9M FY 2011 compared to Rs. 834 crore in 9M FY 2010
-- EPS (diluted) increased from Rs. 6.38 per share to Rs. 6.87 per share : an increase of 8%
-- IDFC is notified as Infrastructure Finance Company by the Reserve Bank of India
-- IDFC raised Rs. 2,654 crore through the QIP route by allotment of equity shares to QIBs and Rs. 840 crore of capital through a preferential issue of CCCPS.
-- Balance sheet size as on December 31, 2010 - Rs. 48,030 crore : an increase of 53%
-- Net NPAs at 0.11% of outstanding loans; No new NPA during 9M FY 2011
-- Net Interest income (NII) of Rs. 1,171 crore : an increase of 47%
-- Non Interest Income of Rs. 729 crore : an increase of 7%
-- Assets under management - USD 6.1 billion
At its 81st Board Meeting held on January 31, 2011, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to December 31, 2010.
Profit After Tax for IDFC standalone increased by 27% from Rs. 734 crore in 9M FY 2010 to Rs. 930 crore in 9M FY 2011. However, profitability of the core lending business (excluding income from principal investments) over 9M FY 2010 increased by more than 50%.
INCOME
-- Net Interest Income (NII) increased by 47% from Rs. 797 crore in 9M FY 2010 to Rs. 1,171 crore in 9M FY 2011.
- Net Interest Income (NII) from infrastructure loans increased by 47% from Rs. 731 crore in 9M FY 2010 to Rs. 1,076 crore in 9M FY 2011.
- Net Interest Income from treasury operations increased by 46% from Rs. 65 crore in 9M FY 2010 to Rs. 95 crore in 9M FY 2011.
-- Non Interest Income increased by 7% from Rs. 680 crore in 9M FY 2010 to Rs. 729 crore in 9M FY 2011.
- Fees from IDFC's asset management business decreased by 3% from Rs. 209 crore in 9M FY 2010 to Rs. 203 crore in 9M FY 2011.
Income from Investment banking and broking activity increased by 22% from Rs. 132 crore in 9M FY 2010 to Rs. 161 crore in 9M FY 2011.
- Income from principal investments decreased by 31% from Rs. 234 crore in 9M FY 2010 to Rs. 162 crore in 9M FY 2011.
- Loan related and other fees increased by 94% from Rs. 105 crore to Rs. 203 crore.
PROFITS
-- Profit before tax (PBT) increased by 21% from Rs. 1,128 crore in 9M FY 2010 to Rs. 1,367 crore in 9M FY 2011.
-- EPS (diluted) increased by 8% from Rs. 6.38 per share to Rs. 6.87 per share.
-- After accounting for tax andb share of profit in associate company, the profit after tax (PAT) increased by 19% from Rs. 834 crore in 9M FY 2010 to R
BALANCE SHEET
-- The balance sheet size grew by 53% from Rs. 31,328 crore as at December 31, 2009 to Rs. 48,030 cr
-- Exposure was Rs. 57,558 crore as on December 31, 2010.
To view the tables, please click on the link given below:
Unaudited Financial Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/1.pdf
1.pdf
CONTACT DETAILS
Mr. K.V. Venkatrama, Infrastructure Development Finance Company Limited, + 91 (22) 42222020 , venkatraman.kv@idfc.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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BWI: Vdopia to Empower Online Video Advertisements and Monetize the Live Streaming of ICC Cricket World Cup 2011 on www.espnstar.com
Press release from Business Wire India
Source: ESPN STAR Sports
Monday, January 31, 2011 04:45 PM IST (11:15 AM GMT)
Editors: General: Consumer interest, Sports; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Sports; Technology
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Vdopia to Empower Online Video Advertisements and Monetize the Live Streaming of ICC Cricket World Cup 2011 on www.espnstar.com
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- ESPN Software India Pvt Ltd has appointed Vdopia, leading online and mobile video monetization company, as the exclusive sales agent of www.espnstar.com (India region) till the end of ICC Cricket World Cup 2011. Vdopia will empower the online video advertisements and monetize the most premium content, live streaming of ICC World Cup 2011 on ESPNStar.com. ICC World Cup 2011 is taking place in India from 19 February to April 2, 2011.
Live streaming of ICC Cricket World Cup 2011 is expected to generate huge excitement in the Indian market place and Vdopia is all set to accelerate the scalability of the content through its monetization expertise.
About ESPNSTAR.com
ESPNSTAR.com culminates the assets across ESPN and STAR Sports, offering advertisers unique ways to associate with premier sports content. With the latest news, real-time LIVE scores, videos, expert opinions and games across an unparalleled breadth of sports, espnstar.com is built to offer unmatched interactive, integrated and creative digital advertising opportunities for all advertisers.
About Vdopia
Vdopia enables major brands and advertisers to find and engage with the right audiences by partnering with publishers and providing compelling content online. In 2010, Vdopia was named a winner of the prestigious TiE50 and Red Herring Award winner. Headquartered in Silicon Valley, the venture-backed company has sales and development offices in Silicon Valley and New York in the U.S., and Mumbai and Gurgaon in India.
CONTACT DETAILS
Sameer Bajaj, ESPN, +91 9811222700
Vishwajeet Ganpate, IPAN H&K, +91 9999659231
KEYWORDS
CONSUMER, SPORTS, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: ESPN STAR Sports
Monday, January 31, 2011 04:45 PM IST (11:15 AM GMT)
Editors: General: Consumer interest, Sports; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Sports; Technology
--------------------------------------------------
Vdopia to Empower Online Video Advertisements and Monetize the Live Streaming of ICC Cricket World Cup 2011 on www.espnstar.com
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- ESPN Software India Pvt Ltd has appointed Vdopia, leading online and mobile video monetization company, as the exclusive sales agent of www.espnstar.com (India region) till the end of ICC Cricket World Cup 2011. Vdopia will empower the online video advertisements and monetize the most premium content, live streaming of ICC World Cup 2011 on ESPNStar.com. ICC World Cup 2011 is taking place in India from 19 February to April 2, 2011.
Live streaming of ICC Cricket World Cup 2011 is expected to generate huge excitement in the Indian market place and Vdopia is all set to accelerate the scalability of the content through its monetization expertise.
About ESPNSTAR.com
ESPNSTAR.com culminates the assets across ESPN and STAR Sports, offering advertisers unique ways to associate with premier sports content. With the latest news, real-time LIVE scores, videos, expert opinions and games across an unparalleled breadth of sports, espnstar.com is built to offer unmatched interactive, integrated and creative digital advertising opportunities for all advertisers.
About Vdopia
Vdopia enables major brands and advertisers to find and engage with the right audiences by partnering with publishers and providing compelling content online. In 2010, Vdopia was named a winner of the prestigious TiE50 and Red Herring Award winner. Headquartered in Silicon Valley, the venture-backed company has sales and development offices in Silicon Valley and New York in the U.S., and Mumbai and Gurgaon in India.
CONTACT DETAILS
Sameer Bajaj, ESPN, +91 9811222700
Vishwajeet Ganpate, IPAN H&K, +91 9999659231
KEYWORDS
CONSUMER, SPORTS, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: everyday child – A Revolutionary Charitable Initiative
Press release from Business Wire India
Source: everyday child
Monday, January 31, 2011 02:40 PM IST (09:10 AM GMT)
Editors: General: Consumer interest, People, Politics, Social issues; Business: Advertising, PR & marketing, Education & training
--------------------------------------------------
everyday child - A Revolutionary Charitable Initiative
T.E.A.M. - Together Everyone Achieves More
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- In less than two weeks 'everyday child', a charitable organization, arrived in Mumbai and put together a Team, solidified a location, initiated legal registration, and received 100% support from the Nationalist Congress Party (NCP) as well as the people of Mannu Bhai Chawl in Powai to begin the development of their first Learning Centre. Moreover, they organized and invited an entire group of people to come out and 'Give a Helping Hand' by cleaning up the garbage in the Chawl's community. Sharad Pawar, the local Corporator (NCP) and celebrities like Elesh Parujanwala (Rakhi Ka Swayamwar) also took part in the festivity.
"On the occasion of Mahatma Gandhi's 63rd death anniversary, not only will we salute those who gave up their lives in service of the Nation but we're going to celebrate the start of something wonderful for humanity", said Sean Lamba, a visionary leader from Toronto, Canada whose dream at the age of 12 is on the verge of becoming a reality.
Imagine giving someone the chance to learn something new, earn something out of it (whether it is monetary, tools, experience, etc.) and then leading and empowering that same individual to return the knowledge and skills that they acquired by teaching someone else. Well, this is exactly the beauty and the power of the initiative - it's an everlasting cycle of education.
In addition, by providing the youth with opportunities that allow them to recognize their core skills and talents, the organization can ultimately help foster them further and develop the stars and leaders of tomorrow.
"We're so happy to be a part of this and we want our community to learn great things and make the best of it", said Ganesh Shelar, a 26 year old native who has lived in Mannu Bhai Chawl his entire life.
Later this year, everyday child's first Learning Centre is expected to be developed and the curriculum will entail various activities that revolve around 3 specific themes (Creative Arts, Health & Fitness and Go Green) - the best part, they will all incorporate the 'Learn, Earn, Return' philosophy.
An 'everyday child' is a concept in itself too - it's essentially about drinking from the fountain of youth. All children in this world, no matter where they're from or what their circumstances are, they aren't afraid to take risks or ask questions, they believe in the power of their dreams, they're creative and love to have fun, and more important, they look at everyone equally despite the colour of their skin or what religion they practice.
"I am an everyday child, the question is, are you?", Sean conveyed in a proud and joyful tone.
The 'Give a Helping Hand' event took place on Sunday, 30 January 2011, from 7:00 AM to 7:00 PM in Mannu Bhai Chawl (opposite Nahar Amrit Shakti near Chandivali Studio), Chandivali, Powai, Andheri East.
About everyday child
everyday child is a revolutionary educational-based charity that was established to encourage leadership and foster skills and talents amongst individuals by engaging them in activities, guided by an underlying principle: Learn, Earn, Return.
The organization builds outdoor, stage-setting 'Learning Centers' in shanty-towns across developing nations and its primary initiatives revolve around three specific themes; Creative Arts, Health & Fitness and Go Green.
Founded in 2010 by Sean Lamba, the NGO's current network of operations exists in Toronto, Canada and Mumbai, India. For more information, visit http://everydaychild.org or contact info@everydaychild.org. Don't forget to LIKE them on Facebook too: http://facebook.com/everydaychild.
CONTACT DETAILS
Sean Lamba, everyday child, +91 9820717370, Sean.Lamba@everydaychild.org
KEYWORDS
CONSUMER, PEOPLE, POLITICS, SOCIAL, MARKETING, EDUCATION
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: everyday child
Monday, January 31, 2011 02:40 PM IST (09:10 AM GMT)
Editors: General: Consumer interest, People, Politics, Social issues; Business: Advertising, PR & marketing, Education & training
--------------------------------------------------
everyday child - A Revolutionary Charitable Initiative
T.E.A.M. - Together Everyone Achieves More
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- In less than two weeks 'everyday child', a charitable organization, arrived in Mumbai and put together a Team, solidified a location, initiated legal registration, and received 100% support from the Nationalist Congress Party (NCP) as well as the people of Mannu Bhai Chawl in Powai to begin the development of their first Learning Centre. Moreover, they organized and invited an entire group of people to come out and 'Give a Helping Hand' by cleaning up the garbage in the Chawl's community. Sharad Pawar, the local Corporator (NCP) and celebrities like Elesh Parujanwala (Rakhi Ka Swayamwar) also took part in the festivity.
"On the occasion of Mahatma Gandhi's 63rd death anniversary, not only will we salute those who gave up their lives in service of the Nation but we're going to celebrate the start of something wonderful for humanity", said Sean Lamba, a visionary leader from Toronto, Canada whose dream at the age of 12 is on the verge of becoming a reality.
Imagine giving someone the chance to learn something new, earn something out of it (whether it is monetary, tools, experience, etc.) and then leading and empowering that same individual to return the knowledge and skills that they acquired by teaching someone else. Well, this is exactly the beauty and the power of the initiative - it's an everlasting cycle of education.
In addition, by providing the youth with opportunities that allow them to recognize their core skills and talents, the organization can ultimately help foster them further and develop the stars and leaders of tomorrow.
"We're so happy to be a part of this and we want our community to learn great things and make the best of it", said Ganesh Shelar, a 26 year old native who has lived in Mannu Bhai Chawl his entire life.
Later this year, everyday child's first Learning Centre is expected to be developed and the curriculum will entail various activities that revolve around 3 specific themes (Creative Arts, Health & Fitness and Go Green) - the best part, they will all incorporate the 'Learn, Earn, Return' philosophy.
An 'everyday child' is a concept in itself too - it's essentially about drinking from the fountain of youth. All children in this world, no matter where they're from or what their circumstances are, they aren't afraid to take risks or ask questions, they believe in the power of their dreams, they're creative and love to have fun, and more important, they look at everyone equally despite the colour of their skin or what religion they practice.
"I am an everyday child, the question is, are you?", Sean conveyed in a proud and joyful tone.
The 'Give a Helping Hand' event took place on Sunday, 30 January 2011, from 7:00 AM to 7:00 PM in Mannu Bhai Chawl (opposite Nahar Amrit Shakti near Chandivali Studio), Chandivali, Powai, Andheri East.
About everyday child
everyday child is a revolutionary educational-based charity that was established to encourage leadership and foster skills and talents amongst individuals by engaging them in activities, guided by an underlying principle: Learn, Earn, Return.
The organization builds outdoor, stage-setting 'Learning Centers' in shanty-towns across developing nations and its primary initiatives revolve around three specific themes; Creative Arts, Health & Fitness and Go Green.
Founded in 2010 by Sean Lamba, the NGO's current network of operations exists in Toronto, Canada and Mumbai, India. For more information, visit http://everydaychild.org or contact info@everydaychild.org. Don't forget to LIKE them on Facebook too: http://facebook.com/everydaychild.
CONTACT DETAILS
Sean Lamba, everyday child, +91 9820717370, Sean.Lamba@everydaychild.org
KEYWORDS
CONSUMER, PEOPLE, POLITICS, SOCIAL, MARKETING, EDUCATION
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: IndiaMART.com Triggers Global Growth Prospects for SMEs
Press release from Business Wire India
Source: IndiaMART
Monday, January 31, 2011 02:30 PM IST (09:00 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment; Technology
--------------------------------------------------
IndiaMART.com Triggers Global Growth Prospects for SMEs
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- . In association with TiE organises SME Conference 2011 on "Going Beyond India - Competing in a Globalized Economy"
. Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com says competitive & resilient SMEs are quintessential for economic growth
. Prof. Suresh Tendulkar shares macro perspective on enhancing global competitiveness in SMEs
. Hon'ble Secretary Ministry of MSMEs Mr. Uday Kumar Varma says the new decade belongs to SMEs
. Packed hall acclaims the Conference
"It is time for Indian Small and Medium Enterprises (SMEs) to go beyond India, explore 'Bharat'." This statement by Professor Suresh Tendulkar gave a whole new dimension to the SME Conference 2011 organised by IndiaMART.com in association with TiE Delhi NCR recently at Hotel Sheraton, New Delhi. This year's Conference was centered around the theme of "Going Beyond India - Competing in a Globalized Economy", underlining critical elements which vitalize SMEs for global competitiveness. Presence of dignitaries from various fields such as Mr. Uday Kumar Verma, Honourable Secretary, Ministry of MSME; Prof. Suresh Tendulkar, Chairman, Indian SME Knowledge Forum, Director, Central Board of RBI & Former Chairman, Economic Advisory Council to PM; Mr. Pradeep Gupta, Chairman & Managing Director, CyberMedia Group; Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com; Mr. Pavan Vaish, CEO, IBM Global Services; Mr. Brijesh Agrawal, COO, IndiaMART.com; Mr. Ajay K Koul, Vice President - Business Alliances, FIIT JEE among several others multiplied the significance of the Conference.
Opening the session with his encouraging words, Mr. Dinesh Agarwal, welcomed the distinguished guests. Reiterating on the important role of SMEs in the growth and development of the economy, he said, "Our SMEs have created immense employment opportunities for over 60 million people in the country. They account for approximately 45% of the manufacturing output and 40% of the total exports of the country. Certainly huge numbers but still leave a lot of room to achieve their full potential. These figures can grow manifolds if they possess competitive advantage over their counterparts in global markets." He added, "At IndiaMART.com, we believe globally competitive and resilient SMEs are quintessential for further growth and development process of the Indian economy. Our association with TiE for the SME Conference is a step towards readying the Indian SMEs with such competitiveness."
Chaired by Mr. Pradeep Gupta, the inaugural session saw Mr. Suresh Tendulkar share macro perspective on making SMEs competitive in today's globalised economy. He said, "Being globally competitive depends upon SMEs' ability to take up challenges and tackle them." He also highlighted that developed countries have aging population while developing nations have a working population and added, "In the coming times, growth rate in emerging markets will be much higher as compared to developed economies." He concluded by bringing focus back to the country, saying, "Competitiveness needs to be built not only global markets but also for domestic. It is time for Indian SMEs to go beyond India, explore 'Bharat'."
Upbeat about the growth of the MSMEs in the times to come, Mr. Uday Kumar Verma, said, "I am extremely happy and privileged to share my thoughts here... Of late, MSMEs are getting lot of attention. The decade which has started rightfully belongs to them. We need to aggressively push their agenda." He also elaborated on the challenges that prevailed in this sector such as credit, technology, infrastructure, marketing and skill development."
The next session focused on 'SMEs - Expanding your horizon (setting up for a globalised economy)'. While Mr. Mritunjay Kapur, Country Managing Director, chaired the second session on 'SMEs - Expanding Your Horizon (Setting up for a Globalised Economy)', Mr. Pavan Vaish, CEO, IBM Daksh Business Process Services, talked about the importance of operational excellence and a strong value system in a business as prerequisites to take one's business to a global level. The other eminent speaker Mr. Somenath Ghosh, Chairman & Managing Director, NRDC also presented his views.
Another session 'Scaling up - Practitioner's Perspective' chaired by Mr. R. Narayan, CEO, Denave India Pvt. Ltd. proved to be truly insightful and interactive session for the audience where Mr. Brijesh Agrawal andMr. Ajay Koul shared their business perspectives. From the mindset of an entrepreneur, market identification & development, technology, conviction of the team in the business idea & entrepreneur, product positioning, customer retention to creating & sharing wealth, the session dealt with every critical factor involved in scaling up of small businesses.
Other important sessions were: 'My Story Session' chaired by Mr. Ketan Dewan, Managing Director, KRD Vision, with Mr. Kunwer Sachdev, CEO, Su-Kam Power Systems Ltd. and Mr. Ashwani Chawla, Founder, Catmoss Retail Ltd. sharing their success stories; 'Building an innovation culture - Leveraging Technology, products & IP to Enhance Global Competitiveness' chaired by Mr. Vinod Sood, Managing Director, Hughes Systique Pvt.Ltd.; and 'Funding - Debt vs equity- whats the best option for me?' chaired by Ms. Kalpana Jain, Senior Director, Deloitte Touche Tohmatsu India Ltd.
Each session had an enthusiastic audience which posed different questions to the panelists. The Conference was hugely successful and was able to address the issues which concern SME competitivess at a global level. IndiaMART.com will continue to partner itself with such endeavours that will aid in enhancing growth prospects for the SMEs.
About IndiaMART.com
IndiaMART.comis India's largest online B2B marketplace connecting global buyers with suppliers through business directories, online product catalogs, buy-sell offers, industry specific marketplaces, printed media and trade shows participation.
Founded in 1996 by Mr. Dinesh Agarwal (CEO), the company has a pan-India presence in over 100 cities. With over 2400 employees located across 55 offices in the country, IndiaMART.comoffers an extensive range of value- added products and services to its 1 million registered members and nearly 5 million global buyers across various industries and verticals.
IndiaMART.comhas won numerous awards over the years and has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc for its pioneering role in promoting SME business in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.
About The Indus Entrepreneurs (TiE)
The Indus Entrepreneurs (TiE) is the world's largest organization dedicated to the advancement of entrepreneurship. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region.
There are currently over 15,000 members and more than 2,500 charter members in 56 chapters across 14 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs
TiE members include senior and successful Entrepreneurs, VCs, Angel Investors, Private Equity, and Law Firms, Tech and Management professionals, SME's, aspiring entrepreneurs and students.
CONTACT DETAILS
Pawandeep Kaur, Manager - PR, IndiaMART, +91 (120) 3911000, pr@indiamart.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: IndiaMART
Monday, January 31, 2011 02:30 PM IST (09:00 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment; Technology
--------------------------------------------------
IndiaMART.com Triggers Global Growth Prospects for SMEs
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- . In association with TiE organises SME Conference 2011 on "Going Beyond India - Competing in a Globalized Economy"
. Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com says competitive & resilient SMEs are quintessential for economic growth
. Prof. Suresh Tendulkar shares macro perspective on enhancing global competitiveness in SMEs
. Hon'ble Secretary Ministry of MSMEs Mr. Uday Kumar Varma says the new decade belongs to SMEs
. Packed hall acclaims the Conference
"It is time for Indian Small and Medium Enterprises (SMEs) to go beyond India, explore 'Bharat'." This statement by Professor Suresh Tendulkar gave a whole new dimension to the SME Conference 2011 organised by IndiaMART.com in association with TiE Delhi NCR recently at Hotel Sheraton, New Delhi. This year's Conference was centered around the theme of "Going Beyond India - Competing in a Globalized Economy", underlining critical elements which vitalize SMEs for global competitiveness. Presence of dignitaries from various fields such as Mr. Uday Kumar Verma, Honourable Secretary, Ministry of MSME; Prof. Suresh Tendulkar, Chairman, Indian SME Knowledge Forum, Director, Central Board of RBI & Former Chairman, Economic Advisory Council to PM; Mr. Pradeep Gupta, Chairman & Managing Director, CyberMedia Group; Mr. Dinesh Agarwal, Founder & CEO, IndiaMART.com; Mr. Pavan Vaish, CEO, IBM Global Services; Mr. Brijesh Agrawal, COO, IndiaMART.com; Mr. Ajay K Koul, Vice President - Business Alliances, FIIT JEE among several others multiplied the significance of the Conference.
Opening the session with his encouraging words, Mr. Dinesh Agarwal, welcomed the distinguished guests. Reiterating on the important role of SMEs in the growth and development of the economy, he said, "Our SMEs have created immense employment opportunities for over 60 million people in the country. They account for approximately 45% of the manufacturing output and 40% of the total exports of the country. Certainly huge numbers but still leave a lot of room to achieve their full potential. These figures can grow manifolds if they possess competitive advantage over their counterparts in global markets." He added, "At IndiaMART.com, we believe globally competitive and resilient SMEs are quintessential for further growth and development process of the Indian economy. Our association with TiE for the SME Conference is a step towards readying the Indian SMEs with such competitiveness."
Chaired by Mr. Pradeep Gupta, the inaugural session saw Mr. Suresh Tendulkar share macro perspective on making SMEs competitive in today's globalised economy. He said, "Being globally competitive depends upon SMEs' ability to take up challenges and tackle them." He also highlighted that developed countries have aging population while developing nations have a working population and added, "In the coming times, growth rate in emerging markets will be much higher as compared to developed economies." He concluded by bringing focus back to the country, saying, "Competitiveness needs to be built not only global markets but also for domestic. It is time for Indian SMEs to go beyond India, explore 'Bharat'."
Upbeat about the growth of the MSMEs in the times to come, Mr. Uday Kumar Verma, said, "I am extremely happy and privileged to share my thoughts here... Of late, MSMEs are getting lot of attention. The decade which has started rightfully belongs to them. We need to aggressively push their agenda." He also elaborated on the challenges that prevailed in this sector such as credit, technology, infrastructure, marketing and skill development."
The next session focused on 'SMEs - Expanding your horizon (setting up for a globalised economy)'. While Mr. Mritunjay Kapur, Country Managing Director, chaired the second session on 'SMEs - Expanding Your Horizon (Setting up for a Globalised Economy)', Mr. Pavan Vaish, CEO, IBM Daksh Business Process Services, talked about the importance of operational excellence and a strong value system in a business as prerequisites to take one's business to a global level. The other eminent speaker Mr. Somenath Ghosh, Chairman & Managing Director, NRDC also presented his views.
Another session 'Scaling up - Practitioner's Perspective' chaired by Mr. R. Narayan, CEO, Denave India Pvt. Ltd. proved to be truly insightful and interactive session for the audience where Mr. Brijesh Agrawal andMr. Ajay Koul shared their business perspectives. From the mindset of an entrepreneur, market identification & development, technology, conviction of the team in the business idea & entrepreneur, product positioning, customer retention to creating & sharing wealth, the session dealt with every critical factor involved in scaling up of small businesses.
Other important sessions were: 'My Story Session' chaired by Mr. Ketan Dewan, Managing Director, KRD Vision, with Mr. Kunwer Sachdev, CEO, Su-Kam Power Systems Ltd. and Mr. Ashwani Chawla, Founder, Catmoss Retail Ltd. sharing their success stories; 'Building an innovation culture - Leveraging Technology, products & IP to Enhance Global Competitiveness' chaired by Mr. Vinod Sood, Managing Director, Hughes Systique Pvt.Ltd.; and 'Funding - Debt vs equity- whats the best option for me?' chaired by Ms. Kalpana Jain, Senior Director, Deloitte Touche Tohmatsu India Ltd.
Each session had an enthusiastic audience which posed different questions to the panelists. The Conference was hugely successful and was able to address the issues which concern SME competitivess at a global level. IndiaMART.com will continue to partner itself with such endeavours that will aid in enhancing growth prospects for the SMEs.
About IndiaMART.com
IndiaMART.comis India's largest online B2B marketplace connecting global buyers with suppliers through business directories, online product catalogs, buy-sell offers, industry specific marketplaces, printed media and trade shows participation.
Founded in 1996 by Mr. Dinesh Agarwal (CEO), the company has a pan-India presence in over 100 cities. With over 2400 employees located across 55 offices in the country, IndiaMART.comoffers an extensive range of value- added products and services to its 1 million registered members and nearly 5 million global buyers across various industries and verticals.
IndiaMART.comhas won numerous awards over the years and has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc for its pioneering role in promoting SME business in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.
About The Indus Entrepreneurs (TiE)
The Indus Entrepreneurs (TiE) is the world's largest organization dedicated to the advancement of entrepreneurship. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region.
There are currently over 15,000 members and more than 2,500 charter members in 56 chapters across 14 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs
TiE members include senior and successful Entrepreneurs, VCs, Angel Investors, Private Equity, and Law Firms, Tech and Management professionals, SME's, aspiring entrepreneurs and students.
CONTACT DETAILS
Pawandeep Kaur, Manager - PR, IndiaMART, +91 (120) 3911000, pr@indiamart.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Mobile Apps Conclave 2011 Concludes with Great Fanfare
Press release from Business Wire India
Source: CellStrat
Monday, January 31, 2011 12:44 PM IST (07:14 AM GMT)
Editors: General: Consumer interest, Entertainment; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
Mobile Apps Conclave 2011 Concludes with Great Fanfare
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- The conference Mobile Apps Conclave (http://www.mobileappsconclave.com) organized by CellStrat concluded with great fanfare and success at the India Habitat Centre, New Delhi on Jan 21st.
CellStrat is extremely pleased to report that this event was Sold Out a week before the event date. This conference saw an unending barrage of interest from audience from all over India in addition to the host city Delhi. Even after putting up the Sold Out sign on the Registration site, CellStrat team kept getting dozens and dozens of calls daily to enquire about registrations. On the event day, more than 250 people attended the conclave.
The conference received rave reviews from all - speakers, audience as well as the apps exhibitors that attended the event. Mobile Apps Conclave's hall was full even before the first Keynote session by Sanjay Swamy, the Mobile Strategist for Indian Government's ambitious UIDAI project named Aadhaar.
CellStrat team was flooded with calls well into lunch time by interested delegates who wanted to enquire if seats were still available for the event. This monstrous success is a testament to the hard work of CellStrat team and countless sleepless nights (and days) put in by them in planning this event. CellStrat tried to accommodate as many delegates as possible but unfortunately had to turn many away due to massive over-bookings.
One of the reasons for this event's success was certainly the topic at hand. Mobile Apps, App Stores and Mobile Web are the equivalent of Mobile re-invention and its immense possibilities. This was proved by exhibitors there who had on display quite a few innovative apps. These exhibitors saw interest in their offering from one and all at the event. Some were start-ups while some others were established players in the Mobile Apps and Content arena.
Two start-ups - MobiVite and Manupatra were selected to showcase their apps in front of the delegates on the stage. Both of them have apps / mobile web platforms to serve content / information over the mobile channel. Manupatra Info Solutions provide legal databases to its subscribers and followers through web, books and mobile apps. Manupatra offers both free and paid options for providing access to their hosted content. The other start-up MobiVite provides events info both on web and mobile via a one-click publishing platform. Both of these stage demos were well received by the audience.
In another keynote, Mahesh Narayanan from Google's Mobile Advertising division presented on how companies are using mobile web and related in-app and off-app advertising. Then there were three panels each focusing on topics like App Marketing and Monetization, and Mobile Web/ App Innovations.
Venture Capitalist Harish Gandhi of Canaan Partners said that only 5% developers in India are actually serious about apps as a business and are able to monetize their Apps. The remaining App Developers in India are experimenting for the most part. This has to do with the fact that App and Mobile Web is relatively new in India with Smartphone penetration still less than 10% and tablet penetration almost next to nothing. But for those in the industry - this is glass half full with a massive upside potential as the Indian middle class upgrades to touchscreen smartphones and tablets in coming years. All panelists were of the view that recent 3G launches will certainly accelerate this pattern.
When Vijay Shekhar, moderator of the Mobile Web innovations panel quizzed each speaker in his panel about which apps have the best future potential.some were of the opinion that Gaming is one of the hottest areas for App growth, another speaker said that transaction apps which effect a large population like India have high potential, while some others said that LBS (Location-based Services) Apps offer the best opportunities. So one can conclude that Gaming, Mass Socio-Economic Apps (like UIDAI's Aadhaar or Mobile Banking for the unbanked) and LBS are the top favorites in India as per the Innovation thinkers.
The Mobile Apps Conclave saw attendance by a large number of Brands, Media, C-Suite audience and Developers from dozens of large and small firms. It proved to be an extremely rich event with a broad audience base and rich content on Apps, Mobile Web, Tablets and Connected Devices. CellStrat will publish the photos and videos from the event soon. So, for those who could not make it to the Mobile Apps Conclave - stay tuned.
Almost two dozen high profile speakers spoke at this event. This list included:
- Sumit Goswami, GM - Marketing India and APAC, Nuance Communications
- Sanjay Swamy, Head - Mobile Strategy, UIDAI (Unique Identification Authority of India) - Govt of India
- Chand Malu, Business Head, Nokia Tej
- Gaurav Sarin, GM Product & Innovation Officer, Aircel
- Vijay Shekhar Sharma, CEO, One97 Communications
- N K Goyal, President, CMAI
- Badri Sanjeevi, COO, Mauj Mobile
- Rajiv Kumar, CEO and Founder, RockeTalk
- Mahesh Narayanan, Country Manager - Business Development, Google India
- Salil Bhargava, CEO - Jump Games, Reliance BIG Entertainment
- Viswanath Poosala, Head of Bell Labs - India, Alcatel-Lucent
- Ramesh Krishnan, COO, 2ergo India
- Jasmeet Singh, Head Service Marketing and Devices OPM, Nokia India
- Dharmendra Yashovardhan, Co-Founder & COO, iXiGO.com
- Varun Khurana, Co-Founder & CEO, Wirkle Technologies
- Ankur Lal, Founder & CEO, Infozech Software
- Jamshed V Rajan, Country Head - India, Nimbuzz
- R Jai Krishna, Dow Jones Newswires
- Harish Gandhi, Executive Director, Canaan Partners
- Ritesh Banglani, Vice President, Helion Ventures
- Vishal Singhal, CMO, CellStrat
In the associated Mobile Solutions Expo which CellStrat organized at this event, several innovative firms had their mobile solutions on display. The list of firms exhibiting included Nuance, Nokia Tej, WIN Information Tech, Tech Ahead, GVC Systems, Manupatra, MobiVite, DevIndia etc. These exhibitors received great fanfare from the event attendees and were pleased to see this keen interest in their offerings.
CONTACT DETAILS
Vishal Singhal, VP (Marketing), CellStrat, +91 9999658436, vishal.singhal@cellstrat.com
KEYWORDS
CONSUMER, ENTERTAINMENT, MARKETING, BUSINESS SERVICES, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: CellStrat
Monday, January 31, 2011 12:44 PM IST (07:14 AM GMT)
Editors: General: Consumer interest, Entertainment; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
Mobile Apps Conclave 2011 Concludes with Great Fanfare
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- The conference Mobile Apps Conclave (http://www.mobileappsconclave.com) organized by CellStrat concluded with great fanfare and success at the India Habitat Centre, New Delhi on Jan 21st.
CellStrat is extremely pleased to report that this event was Sold Out a week before the event date. This conference saw an unending barrage of interest from audience from all over India in addition to the host city Delhi. Even after putting up the Sold Out sign on the Registration site, CellStrat team kept getting dozens and dozens of calls daily to enquire about registrations. On the event day, more than 250 people attended the conclave.
The conference received rave reviews from all - speakers, audience as well as the apps exhibitors that attended the event. Mobile Apps Conclave's hall was full even before the first Keynote session by Sanjay Swamy, the Mobile Strategist for Indian Government's ambitious UIDAI project named Aadhaar.
CellStrat team was flooded with calls well into lunch time by interested delegates who wanted to enquire if seats were still available for the event. This monstrous success is a testament to the hard work of CellStrat team and countless sleepless nights (and days) put in by them in planning this event. CellStrat tried to accommodate as many delegates as possible but unfortunately had to turn many away due to massive over-bookings.
One of the reasons for this event's success was certainly the topic at hand. Mobile Apps, App Stores and Mobile Web are the equivalent of Mobile re-invention and its immense possibilities. This was proved by exhibitors there who had on display quite a few innovative apps. These exhibitors saw interest in their offering from one and all at the event. Some were start-ups while some others were established players in the Mobile Apps and Content arena.
Two start-ups - MobiVite and Manupatra were selected to showcase their apps in front of the delegates on the stage. Both of them have apps / mobile web platforms to serve content / information over the mobile channel. Manupatra Info Solutions provide legal databases to its subscribers and followers through web, books and mobile apps. Manupatra offers both free and paid options for providing access to their hosted content. The other start-up MobiVite provides events info both on web and mobile via a one-click publishing platform. Both of these stage demos were well received by the audience.
In another keynote, Mahesh Narayanan from Google's Mobile Advertising division presented on how companies are using mobile web and related in-app and off-app advertising. Then there were three panels each focusing on topics like App Marketing and Monetization, and Mobile Web/ App Innovations.
Venture Capitalist Harish Gandhi of Canaan Partners said that only 5% developers in India are actually serious about apps as a business and are able to monetize their Apps. The remaining App Developers in India are experimenting for the most part. This has to do with the fact that App and Mobile Web is relatively new in India with Smartphone penetration still less than 10% and tablet penetration almost next to nothing. But for those in the industry - this is glass half full with a massive upside potential as the Indian middle class upgrades to touchscreen smartphones and tablets in coming years. All panelists were of the view that recent 3G launches will certainly accelerate this pattern.
When Vijay Shekhar, moderator of the Mobile Web innovations panel quizzed each speaker in his panel about which apps have the best future potential.some were of the opinion that Gaming is one of the hottest areas for App growth, another speaker said that transaction apps which effect a large population like India have high potential, while some others said that LBS (Location-based Services) Apps offer the best opportunities. So one can conclude that Gaming, Mass Socio-Economic Apps (like UIDAI's Aadhaar or Mobile Banking for the unbanked) and LBS are the top favorites in India as per the Innovation thinkers.
The Mobile Apps Conclave saw attendance by a large number of Brands, Media, C-Suite audience and Developers from dozens of large and small firms. It proved to be an extremely rich event with a broad audience base and rich content on Apps, Mobile Web, Tablets and Connected Devices. CellStrat will publish the photos and videos from the event soon. So, for those who could not make it to the Mobile Apps Conclave - stay tuned.
Almost two dozen high profile speakers spoke at this event. This list included:
- Sumit Goswami, GM - Marketing India and APAC, Nuance Communications
- Sanjay Swamy, Head - Mobile Strategy, UIDAI (Unique Identification Authority of India) - Govt of India
- Chand Malu, Business Head, Nokia Tej
- Gaurav Sarin, GM Product & Innovation Officer, Aircel
- Vijay Shekhar Sharma, CEO, One97 Communications
- N K Goyal, President, CMAI
- Badri Sanjeevi, COO, Mauj Mobile
- Rajiv Kumar, CEO and Founder, RockeTalk
- Mahesh Narayanan, Country Manager - Business Development, Google India
- Salil Bhargava, CEO - Jump Games, Reliance BIG Entertainment
- Viswanath Poosala, Head of Bell Labs - India, Alcatel-Lucent
- Ramesh Krishnan, COO, 2ergo India
- Jasmeet Singh, Head Service Marketing and Devices OPM, Nokia India
- Dharmendra Yashovardhan, Co-Founder & COO, iXiGO.com
- Varun Khurana, Co-Founder & CEO, Wirkle Technologies
- Ankur Lal, Founder & CEO, Infozech Software
- Jamshed V Rajan, Country Head - India, Nimbuzz
- R Jai Krishna, Dow Jones Newswires
- Harish Gandhi, Executive Director, Canaan Partners
- Ritesh Banglani, Vice President, Helion Ventures
- Vishal Singhal, CMO, CellStrat
In the associated Mobile Solutions Expo which CellStrat organized at this event, several innovative firms had their mobile solutions on display. The list of firms exhibiting included Nuance, Nokia Tej, WIN Information Tech, Tech Ahead, GVC Systems, Manupatra, MobiVite, DevIndia etc. These exhibitors received great fanfare from the event attendees and were pleased to see this keen interest in their offerings.
CONTACT DETAILS
Vishal Singhal, VP (Marketing), CellStrat, +91 9999658436, vishal.singhal@cellstrat.com
KEYWORDS
CONSUMER, ENTERTAINMENT, MARKETING, BUSINESS SERVICES, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: HCL Infosystems bags Rs. 250cr Order from BSNL under its System Integration Telecom Practice
Press release from Business Wire India
Source: HCL Infosystems Ltd
Monday, January 31, 2011 01:57 PM IST (08:27 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Telecommunications; Technology
--------------------------------------------------
HCL Infosystems bags Rs. 250cr Order from BSNL under its System Integration Telecom Practice
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- . HCL Infosystems to deploy systems for consolidation of the BSNL billing process
. Project to spread across North & West Zone
HCL Infosystems Ltd., India's premier Hardware, Services and ICT System Integration Company today announced the awarding of Rs.250cr project from Bharat Sanchar Nigam Limited (BSNL). HCL Infosystems will be responsible for deploying a state-of-the-art facility for printing and managing BSNL customer bills. The company will also be making the entire capital investment to upgrade the existing systems for higher efficiency.
Commenting on the occasion, Mr. J V Ramamurthy, President and COO, HCL Infosystems said, "The past few years have unveiled a new face of HCL Infosystems, where we have become one of the leading System Integrators in the country, deploying solutions and winning projects across sectors including eGovernance, power, telecom, learning, security etc. In the rapidly emerging space of telecom we have developed a host of system integration solutions and this project win from BSNL only speaks for our understanding and expertise. We are excited to have got this opportunity and look forward to further expand our areas of operation through more and more solutions added to our offerings"
HCL Infosystems will be managing the BSNL's billing system process for two zones - North Zone and West Zone and would extend over a period of 7 years. The company will be setting up the facility equipped with sophisticated printing solutions for transactional output with the most advanced hardware and software solutions. The project will entail a complete transformation and automation of BSNL's bill printing mechanism thereby adding greater efficiency in reaching out to its subscribers.
About HCL Infosystems Ltd:
HCL Infosystems Ltd, with revenue (LTM) of US$ 2.6 billion (Rs. 12, 159 crore) is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for all the ICT requirements of an organisation. India's leading System Integration and Infrastructure Management Services Organisation, HCL has specialised expertise across verticals including Telecom, BFSI, eGovernance & Power. HCL has India's largest distribution and retail network, taking to market a range of Digital Lifestyle products in partnership with leading global ICT brands, including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft, Nokia, Toshiba, and many more. HCL today has India's largest vertically integrated computer manufacturing facility with over three decades of electronic manufacturing experience & HCL desktops is the largest selling brand into the enterprise space. With India's largest ICT services network that reaches to every corner of India, HCL's award winning Support Services makes it the preferred choice of enterprise and consumers, alike. HCL Infosystems has a 100% subsidiary that addresses the physical security technology system integration market. The subsidiary leverages technology to build a security framework called 'Safe State' that safe guard's life, infrastructure & society. For more information please visit us at www.hclinfosystems.in
CONTACT DETAILS
Ashutosh Bhattacharya, Head - Corporate Communications, HCL Infosystems Ltd, + 91 9811920415, ashutosh.bhattacharya@hcl.in
Rashi Mehrotra, Hanmer, +91 9958594111, rashi.mehrotra@hanmermsl.com
Richa Chauhan, Hanmer, +91 9999492599, richachauhan@hanmermsl.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: HCL Infosystems Ltd
Monday, January 31, 2011 01:57 PM IST (08:27 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Telecommunications; Technology
--------------------------------------------------
HCL Infosystems bags Rs. 250cr Order from BSNL under its System Integration Telecom Practice
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- . HCL Infosystems to deploy systems for consolidation of the BSNL billing process
. Project to spread across North & West Zone
HCL Infosystems Ltd., India's premier Hardware, Services and ICT System Integration Company today announced the awarding of Rs.250cr project from Bharat Sanchar Nigam Limited (BSNL). HCL Infosystems will be responsible for deploying a state-of-the-art facility for printing and managing BSNL customer bills. The company will also be making the entire capital investment to upgrade the existing systems for higher efficiency.
Commenting on the occasion, Mr. J V Ramamurthy, President and COO, HCL Infosystems said, "The past few years have unveiled a new face of HCL Infosystems, where we have become one of the leading System Integrators in the country, deploying solutions and winning projects across sectors including eGovernance, power, telecom, learning, security etc. In the rapidly emerging space of telecom we have developed a host of system integration solutions and this project win from BSNL only speaks for our understanding and expertise. We are excited to have got this opportunity and look forward to further expand our areas of operation through more and more solutions added to our offerings"
HCL Infosystems will be managing the BSNL's billing system process for two zones - North Zone and West Zone and would extend over a period of 7 years. The company will be setting up the facility equipped with sophisticated printing solutions for transactional output with the most advanced hardware and software solutions. The project will entail a complete transformation and automation of BSNL's bill printing mechanism thereby adding greater efficiency in reaching out to its subscribers.
About HCL Infosystems Ltd:
HCL Infosystems Ltd, with revenue (LTM) of US$ 2.6 billion (Rs. 12, 159 crore) is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for all the ICT requirements of an organisation. India's leading System Integration and Infrastructure Management Services Organisation, HCL has specialised expertise across verticals including Telecom, BFSI, eGovernance & Power. HCL has India's largest distribution and retail network, taking to market a range of Digital Lifestyle products in partnership with leading global ICT brands, including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft, Nokia, Toshiba, and many more. HCL today has India's largest vertically integrated computer manufacturing facility with over three decades of electronic manufacturing experience & HCL desktops is the largest selling brand into the enterprise space. With India's largest ICT services network that reaches to every corner of India, HCL's award winning Support Services makes it the preferred choice of enterprise and consumers, alike. HCL Infosystems has a 100% subsidiary that addresses the physical security technology system integration market. The subsidiary leverages technology to build a security framework called 'Safe State' that safe guard's life, infrastructure & society. For more information please visit us at www.hclinfosystems.in
CONTACT DETAILS
Ashutosh Bhattacharya, Head - Corporate Communications, HCL Infosystems Ltd, + 91 9811920415, ashutosh.bhattacharya@hcl.in
Rashi Mehrotra, Hanmer, +91 9958594111, rashi.mehrotra@hanmermsl.com
Richa Chauhan, Hanmer, +91 9999492599, richachauhan@hanmermsl.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY
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BWI: Delta Introduces Hybrid Renewable Energy Solutions (RenE) under SolutionE for Telecom Customers to Optimize Green Energy and Value
Press release from Business Wire India
Source: Delta Group
Monday, January 31, 2011 11:48 AM IST (06:18 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Energy companies, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
Delta Introduces Hybrid Renewable Energy Solutions (RenE) under SolutionE for Telecom Customers to Optimize Green Energy and Value
Poised to help Indian Telecos to bring down the site energy bills by 50%
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- Dedicated to innovation, energy efficiency, and environmental protection, Delta Group, the world's largest provider of switching power supplies and DC brushless fans, has launched hybrid renewable energy solutions (RenE) under its SolutionE concept. SolutionE, a recently launched concept that brings together Delta's telecom power products, aims to revolutionize market standards by enabling significant direct and indirect energy savings. Under the concept, RenE solutions feature a modular power supply concept that can use any combination of solar power, wind turbines, mains power, diesel generators and fuel cells, which may reduce payback time as well as electricity bills for over 50%.
Today, Indian telecom industry consumes more than 2 billion litres of diesel every year for maintaining its mobile towers and energy expenses form more than 60% of Network Operating Cost. Delta's new revolutionary hybrid site solution is embedded with features like complete integrated power, ease of installation and maintenance, remote control and monitoring, data logging for multi-energy, reliable and cost effective. This new site solution is designed to keep Indian rural areas in mind where grid power (Electricity Board or EB power) is highly unreliable forcing BTS sites to depend on onsite diesel generators for backup or primary power. In such scenario, a reliable, cost effective and easy to maintain power system is required, Delta new hybrid solution ensures power in these areas and will not only reduce the telecom sites OPEX but also will help cut the use of fuel guzzling diesel generators in tower operations. Notably, In India, most sites start with 24-hrs DG operation in first few months due to delay in EB connection.
"With RenE, telecom customers can go all green using only renewable energy sources whether it's in the heart of the city or in the remotest areas of the globe. Compared with utilizing the more expensive traditional energy sources, using renewable energy sources alone or in a hybrid solution may bring down payback time from 7 to 2 years, varying with site designs," says Krzysztof Puczko, Product Manager, RenE-Hybrid Power Systems.
According to Mr.Dalip Sharma-Managing Director--Delta Group-India & SAARC region "Delta Hybrid solution includes Solar panels, generator, AC/DC power system, and battery. The solution is very reliable as the product is made out of state of the art facility at Rudrapur which has green building credential too. Best Suitable for Rural or Remote Sites as it offers complete integrated power system which is Simple to install and easy to maintain with added advantage of Remote Control and Monitoring including Data Logging. All in all, RenE is an energy-efficient and OPEX-optimized solution for ensuring lower CO2 emissions."
A typical hybrid installation consists of a rectifier system, gen-set, PV array and wind turbine. With Delta's stand-alone system or a combination of renewable and traditional energy sources the CO2 emission rate falls rapidly, leaving a minimal carbon footprint. All in all, RenE revolutionizes market standards. It brings energy efficiency to the system level with cutting-edge control and monitoring functionality featuring the most efficient power conversion modules, cooling options and renewable energy sources in the market.
With the reduced power consumption of modern telecommunications equipment, solar electricity has become an economically and technically attractive alternative to conventional energy sources. Telecommunications lines often pass through remote, uninhabited areas where no infrastructure exists. The power system at an unmanned site, therefore must be extremely reliable, rugged enough to withstand changing weather conditions, and with as little human intervention as possible. In case something does go wrong, it must be able to communicate an alarm signal to the nearest manned station and to sustain the solar power system's operation for a period long enough for maintenance personnel to arrive. Delta aims to revolutionize market standards by enabling significant direct and indirect energy savings while providing easy access to unmanned sites.
SolutionE is Delta´s recently launched concept designed to provide uninterruptible power in the most energy-efficient way possible. It features Delta's energy-saving products including EnergE rectifiers, OutD power cooling systems, advanced controllers, site monitoring and control systems (SMCS) and RenE renewable hybrid systems. With this new site solution, Delta is confident to bring revolution in the Telecom site Energy Management in India.
To learn more about SolutionE products, please go to: www.deltapowersolutions.com/SolutionE.
About Delta Group
Delta Group is the world's leading provider of power management and thermal management solutions, as well as a major source for components, visual displays, industrial automation, networking products, and renewable energy solutions. Delta Group has sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Japan, Mexico, India, Brazil and Europe. As a global leader in power electronics, Delta's mission is, "To provide innovative, clean and efficient energy solutions for a better tomorrow." Delta is committed to environmental protection and has implemented green, lead-free production and recycling and waste management programs for many years. For more information about Delta Group, please go to www.deltaww.com
Telecom Power Solutions Business Unit
As a part of the Delta Group, the Telecom Power Solutions Business Unit is a power system provider, and the global partner of choice for telecom network manufacturers, operators and integrators. Delta provides its customers with a wide range of power products and global services. The core of our business is securing the vital processes of our customers with innovative technology. Delta also aims to promote sustainable development with energy-efficient solutions.
To view the photograph, please click on the link given below:
final hybrid copy
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/1(40).jpg
1(40).jpg
CONTACT DETAILS
Gazala Masood, Manager-Corporate Communications, Delta Group, +91 9818817771/ +91 (124) 4874900 ext-4240, Gazala.Masood@delta.co.in
Anjali Sharma, Corporate Communication -PR, Delta Group, +91 (124) 4874900/ +91 9899302902, Anjali.sharma@delta.co.in
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, ENERGY, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Delta Group
Monday, January 31, 2011 11:48 AM IST (06:18 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Energy companies, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
Delta Introduces Hybrid Renewable Energy Solutions (RenE) under SolutionE for Telecom Customers to Optimize Green Energy and Value
Poised to help Indian Telecos to bring down the site energy bills by 50%
New Delhi, Delhi, India, Monday, January 31, 2011 -- (Business Wire India) -- Dedicated to innovation, energy efficiency, and environmental protection, Delta Group, the world's largest provider of switching power supplies and DC brushless fans, has launched hybrid renewable energy solutions (RenE) under its SolutionE concept. SolutionE, a recently launched concept that brings together Delta's telecom power products, aims to revolutionize market standards by enabling significant direct and indirect energy savings. Under the concept, RenE solutions feature a modular power supply concept that can use any combination of solar power, wind turbines, mains power, diesel generators and fuel cells, which may reduce payback time as well as electricity bills for over 50%.
Today, Indian telecom industry consumes more than 2 billion litres of diesel every year for maintaining its mobile towers and energy expenses form more than 60% of Network Operating Cost. Delta's new revolutionary hybrid site solution is embedded with features like complete integrated power, ease of installation and maintenance, remote control and monitoring, data logging for multi-energy, reliable and cost effective. This new site solution is designed to keep Indian rural areas in mind where grid power (Electricity Board or EB power) is highly unreliable forcing BTS sites to depend on onsite diesel generators for backup or primary power. In such scenario, a reliable, cost effective and easy to maintain power system is required, Delta new hybrid solution ensures power in these areas and will not only reduce the telecom sites OPEX but also will help cut the use of fuel guzzling diesel generators in tower operations. Notably, In India, most sites start with 24-hrs DG operation in first few months due to delay in EB connection.
"With RenE, telecom customers can go all green using only renewable energy sources whether it's in the heart of the city or in the remotest areas of the globe. Compared with utilizing the more expensive traditional energy sources, using renewable energy sources alone or in a hybrid solution may bring down payback time from 7 to 2 years, varying with site designs," says Krzysztof Puczko, Product Manager, RenE-Hybrid Power Systems.
According to Mr.Dalip Sharma-Managing Director--Delta Group-India & SAARC region "Delta Hybrid solution includes Solar panels, generator, AC/DC power system, and battery. The solution is very reliable as the product is made out of state of the art facility at Rudrapur which has green building credential too. Best Suitable for Rural or Remote Sites as it offers complete integrated power system which is Simple to install and easy to maintain with added advantage of Remote Control and Monitoring including Data Logging. All in all, RenE is an energy-efficient and OPEX-optimized solution for ensuring lower CO2 emissions."
A typical hybrid installation consists of a rectifier system, gen-set, PV array and wind turbine. With Delta's stand-alone system or a combination of renewable and traditional energy sources the CO2 emission rate falls rapidly, leaving a minimal carbon footprint. All in all, RenE revolutionizes market standards. It brings energy efficiency to the system level with cutting-edge control and monitoring functionality featuring the most efficient power conversion modules, cooling options and renewable energy sources in the market.
With the reduced power consumption of modern telecommunications equipment, solar electricity has become an economically and technically attractive alternative to conventional energy sources. Telecommunications lines often pass through remote, uninhabited areas where no infrastructure exists. The power system at an unmanned site, therefore must be extremely reliable, rugged enough to withstand changing weather conditions, and with as little human intervention as possible. In case something does go wrong, it must be able to communicate an alarm signal to the nearest manned station and to sustain the solar power system's operation for a period long enough for maintenance personnel to arrive. Delta aims to revolutionize market standards by enabling significant direct and indirect energy savings while providing easy access to unmanned sites.
SolutionE is Delta´s recently launched concept designed to provide uninterruptible power in the most energy-efficient way possible. It features Delta's energy-saving products including EnergE rectifiers, OutD power cooling systems, advanced controllers, site monitoring and control systems (SMCS) and RenE renewable hybrid systems. With this new site solution, Delta is confident to bring revolution in the Telecom site Energy Management in India.
To learn more about SolutionE products, please go to: www.deltapowersolutions.com/SolutionE.
About Delta Group
Delta Group is the world's leading provider of power management and thermal management solutions, as well as a major source for components, visual displays, industrial automation, networking products, and renewable energy solutions. Delta Group has sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Japan, Mexico, India, Brazil and Europe. As a global leader in power electronics, Delta's mission is, "To provide innovative, clean and efficient energy solutions for a better tomorrow." Delta is committed to environmental protection and has implemented green, lead-free production and recycling and waste management programs for many years. For more information about Delta Group, please go to www.deltaww.com
Telecom Power Solutions Business Unit
As a part of the Delta Group, the Telecom Power Solutions Business Unit is a power system provider, and the global partner of choice for telecom network manufacturers, operators and integrators. Delta provides its customers with a wide range of power products and global services. The core of our business is securing the vital processes of our customers with innovative technology. Delta also aims to promote sustainable development with energy-efficient solutions.
To view the photograph, please click on the link given below:
final hybrid copy
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/1(40).jpg
1(40).jpg
CONTACT DETAILS
Gazala Masood, Manager-Corporate Communications, Delta Group, +91 9818817771/ +91 (124) 4874900 ext-4240, Gazala.Masood@delta.co.in
Anjali Sharma, Corporate Communication -PR, Delta Group, +91 (124) 4874900/ +91 9899302902, Anjali.sharma@delta.co.in
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, ENERGY, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Sparta Strategy Announces: The Indian Highways & Roads Infrastructure Investment Conference in Association with Financial Times
Press release from Business Wire India
Source: Sparta Strategy Ventures
Monday, January 31, 2011 11:40 AM IST (06:10 AM GMT)
Editors: General: Consumer interest, Economy, People, Politics; Business: Advertising, PR & marketing, Banking & financial services, Business services, Commodities & materials, Construction, Heavy industries, Major diversified industrial groups, Retailers, Transport engineering
--------------------------------------------------
Sparta Strategy Announces: The Indian Highways & Roads Infrastructure Investment Conference in Association with Financial Times
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- Leading FDI promotion firm Sparta Strategy along with the Financial Times today announced a conference on investment opportunities within the Indian Highways & Roads Infrastructure segment which has emerged as one of the largest public private partnership opportunities on the Governments infrastructure development plans.
The event which is scheduled for Tuesday February 8th in Mumbai, India is slated to bring together senior executives from the public and private sectors, regulators, bankers, fund managers, private equity investors, infrastructure contractors, engineering firms and industrialists from India as well as overseas to explore and discuss the opportunities within this sector. The Indian Government is looking to make rapid headway in the area of highways and road development with an expected $60 billion outlined for the path ahead. With the private sector expected to take on a large part of this investment and the inclusion of global players in the outlined plan, there are unique opportunities for overseas investors and companies to play a key role in the future of India's infrastructure development.
"We are excited about this event and it's going to be great platform to discuss the highway and roads program, how the Government can overcome challenges in its path and the role foreign infrastructure companies as well as investors can play in this crucial sector" says Mr Kavn Bhandary, Sparta Strategy.
The conference which is expecting wide participation of all the different stakeholders from infrastructure companies to representatives from the financial and investment domain globally will feature a key note address as well as discussion panels along with time to network.
"India is looking to add 20kms a day on road building projects and there have been a number of successful toll based projects that highlighted the public private partnership route as the way forward. The participation of global players across investment and execution of these objectives is not only going to add value to these projects but opens doors allowing them to be a part of a rapidly evolving India" adds Mr Sanjay Sharma, Sparta Strategy.
Event venue:
The event will begin with registrations at 8:30 am on Tuesday 8th February 2011 at the Westin Garden City, Goregaon Mumbai. Interested participants are requested to visit: http://sparta-ventures.com/event/event.html
Confirmed Speakers:
. James Lamont, South Asia Bureau Chief, Financial Times
. R.S. Gujral, Secretary, Ministry of Road Transport & Highways, India
. Raghav Chandra, Joint Secretary (Highways), Ministry of Road Transport & Highways, India
. Rajhoo Bbarot, Managing Director, Atlanta Ltd
. Saud Siddique - Joint Managing Director, SREI
. Anita George, Director, Infrastructure, IFC
. Sanjay Grewal, Group Head, Project Finance, IDFC
. Forbes Johnston, Divisional Director, Principal and Global Practice Manager, Transport Management Consultancy, Mott MacDonald
. Sanjay Palve, President & Managing Director - Corporate Finance, YES Bank
. Mukund Sapre, Executive Director, IL&FS Transportation Networks
. Russell Waugh, Managing Director, Leighton Contractors (India)
Sparta Strategy: Investment Promotion | JV Advisory | Investor Targeting |FDI Analysis & Research
Sparta Strategy is India's leading FDI Strategy and Investment promotion services firm. Sparta Strategy is the trusted partner for foreign business locations, Indian States, Central Indian Ministries and Special Economic Zones in their FDI promotion and Investor attraction initiatives. Sparta Strategy is also engaged with private companies both Global and Indian for their global corporate expansion and trade support needs.
For more information please visit http://sparta-ventures.com/mediakit.html
CONTACT DETAILS
Mr. Kavan Bhandary, Sparta Strategy Ventures, +91 (22) 65250250 / 65264123, press@sparta.co.in
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, POLITICS, MARKETING, BANKING, BUSINESS SERVICES, COMMODITIES, CONSTRUCTION, HEAVY INDUSTRIES, GROUPS, RETAIL, TRANSPORT
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Sparta Strategy Ventures
Monday, January 31, 2011 11:40 AM IST (06:10 AM GMT)
Editors: General: Consumer interest, Economy, People, Politics; Business: Advertising, PR & marketing, Banking & financial services, Business services, Commodities & materials, Construction, Heavy industries, Major diversified industrial groups, Retailers, Transport engineering
--------------------------------------------------
Sparta Strategy Announces: The Indian Highways & Roads Infrastructure Investment Conference in Association with Financial Times
Mumbai, Maharashtra, India, Monday, January 31, 2011 -- (Business Wire India) -- Leading FDI promotion firm Sparta Strategy along with the Financial Times today announced a conference on investment opportunities within the Indian Highways & Roads Infrastructure segment which has emerged as one of the largest public private partnership opportunities on the Governments infrastructure development plans.
The event which is scheduled for Tuesday February 8th in Mumbai, India is slated to bring together senior executives from the public and private sectors, regulators, bankers, fund managers, private equity investors, infrastructure contractors, engineering firms and industrialists from India as well as overseas to explore and discuss the opportunities within this sector. The Indian Government is looking to make rapid headway in the area of highways and road development with an expected $60 billion outlined for the path ahead. With the private sector expected to take on a large part of this investment and the inclusion of global players in the outlined plan, there are unique opportunities for overseas investors and companies to play a key role in the future of India's infrastructure development.
"We are excited about this event and it's going to be great platform to discuss the highway and roads program, how the Government can overcome challenges in its path and the role foreign infrastructure companies as well as investors can play in this crucial sector" says Mr Kavn Bhandary, Sparta Strategy.
The conference which is expecting wide participation of all the different stakeholders from infrastructure companies to representatives from the financial and investment domain globally will feature a key note address as well as discussion panels along with time to network.
"India is looking to add 20kms a day on road building projects and there have been a number of successful toll based projects that highlighted the public private partnership route as the way forward. The participation of global players across investment and execution of these objectives is not only going to add value to these projects but opens doors allowing them to be a part of a rapidly evolving India" adds Mr Sanjay Sharma, Sparta Strategy.
Event venue:
The event will begin with registrations at 8:30 am on Tuesday 8th February 2011 at the Westin Garden City, Goregaon Mumbai. Interested participants are requested to visit: http://sparta-ventures.com/event/event.html
Confirmed Speakers:
. James Lamont, South Asia Bureau Chief, Financial Times
. R.S. Gujral, Secretary, Ministry of Road Transport & Highways, India
. Raghav Chandra, Joint Secretary (Highways), Ministry of Road Transport & Highways, India
. Rajhoo Bbarot, Managing Director, Atlanta Ltd
. Saud Siddique - Joint Managing Director, SREI
. Anita George, Director, Infrastructure, IFC
. Sanjay Grewal, Group Head, Project Finance, IDFC
. Forbes Johnston, Divisional Director, Principal and Global Practice Manager, Transport Management Consultancy, Mott MacDonald
. Sanjay Palve, President & Managing Director - Corporate Finance, YES Bank
. Mukund Sapre, Executive Director, IL&FS Transportation Networks
. Russell Waugh, Managing Director, Leighton Contractors (India)
Sparta Strategy: Investment Promotion | JV Advisory | Investor Targeting |FDI Analysis & Research
Sparta Strategy is India's leading FDI Strategy and Investment promotion services firm. Sparta Strategy is the trusted partner for foreign business locations, Indian States, Central Indian Ministries and Special Economic Zones in their FDI promotion and Investor attraction initiatives. Sparta Strategy is also engaged with private companies both Global and Indian for their global corporate expansion and trade support needs.
For more information please visit http://sparta-ventures.com/mediakit.html
CONTACT DETAILS
Mr. Kavan Bhandary, Sparta Strategy Ventures, +91 (22) 65250250 / 65264123, press@sparta.co.in
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, POLITICS, MARKETING, BANKING, BUSINESS SERVICES, COMMODITIES, CONSTRUCTION, HEAVY INDUSTRIES, GROUPS, RETAIL, TRANSPORT
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Securing Ports Through the Application of Technology and Global Best Practices
Press release from Business Wire India
Source: IQPC India (P) Ltd
Monday, January 31, 2011 09:54 AM IST (04:24 AM GMT)
Editors: General: Consumer interest, People, Politics; Business: Advertising, PR & marketing, Defence & security, Information technology, Major diversified industrial groups, Water; Technology
--------------------------------------------------
Securing Ports Through the Application of Technology and Global Best Practices
Bangalore, Karnataka, India, Monday, January 31, 2011 -- (Business Wire India) -- "Only 7-10% of the cargo that enters U.S ports is scanned for illegal drugs, chemical, nuclear or biological agents", reveal Homeland Security Department officials. Scanning and screening are very different, the process begins far from the docks of any port, starting days or weeks before a ship pulls in and begins unloading cargo. All high-risk cargo is screened before entering however only a small percentage of cargo that has not previously been flagged as high risk actually is physically screened.
In light of such security concerns globally it must be noted that India's peninsula is one of the longest in the world with each port requiring tailor made security systems to suit specific needs and challenges.
Seaport security in India is critical to ensure safe and secure transportation of goods and cargo through the Indian ports and to prevent the misuse of ports from terrorists and other illegal activities. India plans to triple port capacity within a decade as it tackles infrastructure deficiencies that threaten to dampen growth. While urgent action is required to ensure seaport capacity the need of the hour is also seaport security. As the government has announced plans to open new harbors and to sell stakes in ports to help annual capacity, reach 3.2 billion tons under a 10-year plan, little or no thought has gone into how these ports will be fortified security wise.
Recent market surveys on seaport security solutions in India conducted by IQPC, have shown that there is a lack of knowledge on the benefits of new technology. IQPC's Seaport Security India will feature exclusive presentations by high level speakers from The Government of India, Gammon Infrastructure Projects, The International Maritime Organization, Adnani Group, US Coast Guard and many others. This conference will address threats posed to security within seaports in India, the best practices, regulations to maintain security at seaports and evolution of port security on a global scale.
Seaport Security India is sponsored by some of the leading solutions providers in the field of seaport security such as Magal Securities, Schneider Electric and Group 4 Services.
More information on conference participation, speakers, technology solution providers and agenda is available on the event website www.seaportsecurityindia.com
IQPC provides practical conferences, large scale events, topical seminars and in-house training programs, keeping business executives up-to-date with industry trends, technological developments and the regulatory landscape. IQPC produces more than 1,800 events annually around the world, and continues to grow. Founded in 1973, IQPC now has offices in major cities across six continents including: Bangalore, Berlin, Dubai, London, New York, Sao Paulo, Singapore, Stockholm, Sydney, Johannesburg and Toronto.
CONTACT DETAILS
Chandana Rana, Marketing Manager, IQPC India (P) Ltd, +971 44462743, Chandana.Rana@iqpc.com
KEYWORDS
CONSUMER, PEOPLE, POLITICS, MARKETING, DEFENCE, GROUPS, WATER, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: IQPC India (P) Ltd
Monday, January 31, 2011 09:54 AM IST (04:24 AM GMT)
Editors: General: Consumer interest, People, Politics; Business: Advertising, PR & marketing, Defence & security, Information technology, Major diversified industrial groups, Water; Technology
--------------------------------------------------
Securing Ports Through the Application of Technology and Global Best Practices
Bangalore, Karnataka, India, Monday, January 31, 2011 -- (Business Wire India) -- "Only 7-10% of the cargo that enters U.S ports is scanned for illegal drugs, chemical, nuclear or biological agents", reveal Homeland Security Department officials. Scanning and screening are very different, the process begins far from the docks of any port, starting days or weeks before a ship pulls in and begins unloading cargo. All high-risk cargo is screened before entering however only a small percentage of cargo that has not previously been flagged as high risk actually is physically screened.
In light of such security concerns globally it must be noted that India's peninsula is one of the longest in the world with each port requiring tailor made security systems to suit specific needs and challenges.
Seaport security in India is critical to ensure safe and secure transportation of goods and cargo through the Indian ports and to prevent the misuse of ports from terrorists and other illegal activities. India plans to triple port capacity within a decade as it tackles infrastructure deficiencies that threaten to dampen growth. While urgent action is required to ensure seaport capacity the need of the hour is also seaport security. As the government has announced plans to open new harbors and to sell stakes in ports to help annual capacity, reach 3.2 billion tons under a 10-year plan, little or no thought has gone into how these ports will be fortified security wise.
Recent market surveys on seaport security solutions in India conducted by IQPC, have shown that there is a lack of knowledge on the benefits of new technology. IQPC's Seaport Security India will feature exclusive presentations by high level speakers from The Government of India, Gammon Infrastructure Projects, The International Maritime Organization, Adnani Group, US Coast Guard and many others. This conference will address threats posed to security within seaports in India, the best practices, regulations to maintain security at seaports and evolution of port security on a global scale.
Seaport Security India is sponsored by some of the leading solutions providers in the field of seaport security such as Magal Securities, Schneider Electric and Group 4 Services.
More information on conference participation, speakers, technology solution providers and agenda is available on the event website www.seaportsecurityindia.com
IQPC provides practical conferences, large scale events, topical seminars and in-house training programs, keeping business executives up-to-date with industry trends, technological developments and the regulatory landscape. IQPC produces more than 1,800 events annually around the world, and continues to grow. Founded in 1973, IQPC now has offices in major cities across six continents including: Bangalore, Berlin, Dubai, London, New York, Sao Paulo, Singapore, Stockholm, Sydney, Johannesburg and Toronto.
CONTACT DETAILS
Chandana Rana, Marketing Manager, IQPC India (P) Ltd, +971 44462743, Chandana.Rana@iqpc.com
KEYWORDS
CONSUMER, PEOPLE, POLITICS, MARKETING, DEFENCE, GROUPS, WATER, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Saturday, January 29, 2011
BWI: TripAdvisor Unveils Highly Unrecommended List of Hotels in India
Press release from Business Wire India
Source: TripAdvisor Media Network
Saturday, January 29, 2011 02:00 PM IST (08:30 AM GMT)
Editors: General: Consumer interest, Law & justice, Social issues, Travel & tourism; Business: Business services, Hospitality, Travel & tourism
--------------------------------------------------
TripAdvisor Unveils Highly Unrecommended List of Hotels in India
Millions of travellers give a thumbs down to these Indian hotels
New Delhi, Delhi, India, Saturday, January 29, 2011 -- (Business Wire India) -- Centaur Hotel IGI Airport, New Delhi voted the worst amongst the dirtiest hotels for three consecutive years!, in India as well as Asia
TripAdvisor®, the world's largest and most popular travel site , with more than 40 million monthly visitors, today unveiled the list of India's Dirtiest Hotels in 2010 , according to reviews by millions of real travellers. Delivering its promise of being the world's most trusted travel advice to help travellers plan their trips; TripAdvisor identifies India's most disturbingly dirty hotels. True to its core, the Dirtiest Hotels are not based on expert opinions or journalist reviews but solely on the real experiences of millions of travellers from India and around the world.
This is the 6th edition of the Dirtiest Hotels list worldwide and the 3rd edition of India's Dirtiest Hotels list.
The hotels hall of shame for 2010 includes eight filthy hotels in New Delhi, Chennai, Mumbai Agra and Munnar. From broken fixtures, filthy bedding and bugs, what travellers saw, smelled and experienced was shocking. "Awful, Pretty Bad, Worst, Not Recommended, Disgusting" are just some of the terms used by travellers to describe these properties and warn other travellers.
Centaur Hotel IGI Airport , Hotel Namaskar in New Delhi and Raj Residency, Chennai are 3 hotels that have been featured in the list for 2 years in a row. These 3 hotels along with Hotel Metro Tower, New Delhi have also found their pride of place in Asia's Top 10 dirtiest hotels this year!
Despite its proximity to the world class T3 International airport in Delhi, Centaur Hotel consistently receives extremely negative reviews by travellers and has continuously been on the list for the past 3 years.
A disappointed TripAdvisor member says, "I think it would have been better to spend the night at the airport rather than go through the torture at Centaur. I think it's high time either the management was changed or they shut it down".
It is appalling to see that the top 3 metropolitan cities of Delhi, Mumbai and Chennai account for 6 out of the 8 dirtiest hotels in the list
"The collective opinions of millions of real travellers on TripAdvisor can help others save themselves from bug bites, lousy service, dirty sheets and damp rooms. The list is only intended to serve as a strong reminder to hotels that cleanliness is the least that travellers expect from their hotel rooms & surroundings, and when hotels fall short of delivering it, travellers have platforms such as TripAdvisor where they can expose such hotels in front of a global audience", said Mr. Sharat Dhall, Managing Director, TripAdvisor India.
The list of Dirtiest hotels follows in close heels of the 2011 Travellers Choice Hotel Awards released by TripAdvisor annually to showcase the best in hospitality around the world and India, across several categories ranging from Bargain to Luxury.
Here is the complete 2011 list of the Dirtiest Hotels in India. Listed alongside are actual reviews from travellers who braved these hotels:
Hotel Namaskar, New Delhi: "We have travelled very widely in India and the Hotel Namaskar has been our worst accommodation yet. It might be cheap but avoid it!
We were woken in the night by a fight in the lobby. The room had no windows. The bathroom was disgusting - even by Paharganj standards. The hotel is located down a dark and rather dodgy alleyway. Essentially, this hotel is a total dive. We only stayed one night and cancelled our other reservations".
Raj Residency, Chennai: "Room No.252 allotted was worst than dormitory rooms. A/c was not working, water heater was not working. After fire fighting with manager alternate room 251 provided which was better off than earlier. Hotel should be banned and License registration to be cancelled by Govt. authority for not maintaining the hotel".
Hotel Metro Tower, New Delhi: "Had a terrible time with the managers - they'll cheat blatantly if they know you are in desparate need. Rooms are cramped, dirty and there are very few decent rooms and consider yourself as blessed if you get one of those. An amazing place to gift a free holiday to your enemy - he'll regret it & you'll love it!!!".
Centaur Hotel IGI Airport, New Delhi: "It is shameful that this hotel is rated five star. In spite of management's claims of renovations, nothing has changed: bugs in the room, dirty carpets, bad smell, poor front desk services, 20 year old TVs, and strange people hanging out in the lobby".
Hotel Manama, Mumbai: "I'm glad I'm not suicidal as I would have considered ending my life before going to sleep so I could avoid waking up in this dirty, neglected and depressing hotel".
Shanti Lodge, Agra: The first look was decent and we decided to book the hotel...then when we came to our room it was terrible...the bathroom flush was not working, there was no hot water...the cable TV was not working and there were frequent power cuts.".Hotel Unicontinetal, Mumbai: "We would prefer to camp out with the scores of families on the streets directly outside this hotel than to ever even consider venturing inside its filthy, greedy, unwholesome walls ever again".
Autumn Trees, Munnar: "We booked this hotel based on the website - The pictures are clearly edited - When you reach the hotel, there is a garbage dump by one side, and there are no tea gardens etc next to it. The real shock comes to you once you go into your room - The conditions can only be described as: A SHABBY STINKING ROOM IN A LODGE.
We booked it for 2 nights in Munnar by paying in advance, but after one night, we said, enough - and we rushed out, of course after losing the booking amount".
The TripAdvisor India site launched a little over 2 years ago already attracts over 3 million unique Indian visitors a month. Its popularity as one of the top 3 travel sites in the country is owing to its rich content on Indian destinations and hotels in the country coupled with the growing trend of Indians' planning their trips based on the experience of other travellers'.
To check out the list of the worst hotels worldwide go to
http://www.tripadvisor.in/DirtyHotels
For a window of respite from the worst check out the top hotels worldwide by region including India in the 2011 Travellers' Choice Awards list at http://www.tripadvisor.in/travelerschoice
About TripAdvisor
TripAdvisor® is the world's largest travel site, enabling travellers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travellers and a wide variety of travel choices and planning features with seamless links to booking tools.
TripAdvisor® Media Group, operated by TripAdvisor LLC, attracts more than 50 million unique monthly visitors* across 17 popular travel brands**. TripAdvisor-branded sites make up the largest travel community in the world, with more than 40 million unique monthly visitors***, 20 million members, and over 40 million reviews and opinions. The sites operate in 26 countries worldwide****, including China under daodao.com. TripAdvisor also operates TripAdvisor for Business, a dedicated division that provides the tourism industry access to TripAdvisor's millions of monthly visitors. The division includes Business Listings, which allows hoteliers to connect directly to millions of researching travellers, and Vacation Rentals, which helps property managers and individual home owners list their properties and showcase hotel alternatives.
TripAdvisor Media Group websites have been recognized as top travel resources in 2010 by Condé Nast Traveller, Good Housekeeping, TIME magazine and Travel + Leisure.
TripAdvisor and the sites comprising the TripAdvisor Media Group are operating companies of Expedia, Inc. (NASDAQ: EXPE).
TripAdvisor and the TripAdvisor logo are trademarks or registered trademarks of TripAdvisor LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.
©2010 TripAdvisor LLC. All rights reserved.
*Source: comScore Media Metrix for TripAdvisor Media Group Sites, Worldwide, August 2010
CONTACT DETAILS
Nikita Kejariwal, 2020 MEDIA, +91 9167443578, nikita@2020india.com
Devvaki Aggarwal, 2020 MEDIA, +91 9899157234, Devvaki@2020india.com
KEYWORDS
CONSUMER, LAW, SOCIAL, TOURISM, BUSINESS SERVICES, HOSPITALITY, TRAVEL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: TripAdvisor Media Network
Saturday, January 29, 2011 02:00 PM IST (08:30 AM GMT)
Editors: General: Consumer interest, Law & justice, Social issues, Travel & tourism; Business: Business services, Hospitality, Travel & tourism
--------------------------------------------------
TripAdvisor Unveils Highly Unrecommended List of Hotels in India
Millions of travellers give a thumbs down to these Indian hotels
New Delhi, Delhi, India, Saturday, January 29, 2011 -- (Business Wire India) -- Centaur Hotel IGI Airport, New Delhi voted the worst amongst the dirtiest hotels for three consecutive years!, in India as well as Asia
TripAdvisor®, the world's largest and most popular travel site , with more than 40 million monthly visitors, today unveiled the list of India's Dirtiest Hotels in 2010 , according to reviews by millions of real travellers. Delivering its promise of being the world's most trusted travel advice to help travellers plan their trips; TripAdvisor identifies India's most disturbingly dirty hotels. True to its core, the Dirtiest Hotels are not based on expert opinions or journalist reviews but solely on the real experiences of millions of travellers from India and around the world.
This is the 6th edition of the Dirtiest Hotels list worldwide and the 3rd edition of India's Dirtiest Hotels list.
The hotels hall of shame for 2010 includes eight filthy hotels in New Delhi, Chennai, Mumbai Agra and Munnar. From broken fixtures, filthy bedding and bugs, what travellers saw, smelled and experienced was shocking. "Awful, Pretty Bad, Worst, Not Recommended, Disgusting" are just some of the terms used by travellers to describe these properties and warn other travellers.
Centaur Hotel IGI Airport , Hotel Namaskar in New Delhi and Raj Residency, Chennai are 3 hotels that have been featured in the list for 2 years in a row. These 3 hotels along with Hotel Metro Tower, New Delhi have also found their pride of place in Asia's Top 10 dirtiest hotels this year!
Despite its proximity to the world class T3 International airport in Delhi, Centaur Hotel consistently receives extremely negative reviews by travellers and has continuously been on the list for the past 3 years.
A disappointed TripAdvisor member says, "I think it would have been better to spend the night at the airport rather than go through the torture at Centaur. I think it's high time either the management was changed or they shut it down".
It is appalling to see that the top 3 metropolitan cities of Delhi, Mumbai and Chennai account for 6 out of the 8 dirtiest hotels in the list
"The collective opinions of millions of real travellers on TripAdvisor can help others save themselves from bug bites, lousy service, dirty sheets and damp rooms. The list is only intended to serve as a strong reminder to hotels that cleanliness is the least that travellers expect from their hotel rooms & surroundings, and when hotels fall short of delivering it, travellers have platforms such as TripAdvisor where they can expose such hotels in front of a global audience", said Mr. Sharat Dhall, Managing Director, TripAdvisor India.
The list of Dirtiest hotels follows in close heels of the 2011 Travellers Choice Hotel Awards released by TripAdvisor annually to showcase the best in hospitality around the world and India, across several categories ranging from Bargain to Luxury.
Here is the complete 2011 list of the Dirtiest Hotels in India. Listed alongside are actual reviews from travellers who braved these hotels:
Hotel Namaskar, New Delhi: "We have travelled very widely in India and the Hotel Namaskar has been our worst accommodation yet. It might be cheap but avoid it!
We were woken in the night by a fight in the lobby. The room had no windows. The bathroom was disgusting - even by Paharganj standards. The hotel is located down a dark and rather dodgy alleyway. Essentially, this hotel is a total dive. We only stayed one night and cancelled our other reservations".
Raj Residency, Chennai: "Room No.252 allotted was worst than dormitory rooms. A/c was not working, water heater was not working. After fire fighting with manager alternate room 251 provided which was better off than earlier. Hotel should be banned and License registration to be cancelled by Govt. authority for not maintaining the hotel".
Hotel Metro Tower, New Delhi: "Had a terrible time with the managers - they'll cheat blatantly if they know you are in desparate need. Rooms are cramped, dirty and there are very few decent rooms and consider yourself as blessed if you get one of those. An amazing place to gift a free holiday to your enemy - he'll regret it & you'll love it!!!".
Centaur Hotel IGI Airport, New Delhi: "It is shameful that this hotel is rated five star. In spite of management's claims of renovations, nothing has changed: bugs in the room, dirty carpets, bad smell, poor front desk services, 20 year old TVs, and strange people hanging out in the lobby".
Hotel Manama, Mumbai: "I'm glad I'm not suicidal as I would have considered ending my life before going to sleep so I could avoid waking up in this dirty, neglected and depressing hotel".
Shanti Lodge, Agra: The first look was decent and we decided to book the hotel...then when we came to our room it was terrible...the bathroom flush was not working, there was no hot water...the cable TV was not working and there were frequent power cuts.".Hotel Unicontinetal, Mumbai: "We would prefer to camp out with the scores of families on the streets directly outside this hotel than to ever even consider venturing inside its filthy, greedy, unwholesome walls ever again".
Autumn Trees, Munnar: "We booked this hotel based on the website - The pictures are clearly edited - When you reach the hotel, there is a garbage dump by one side, and there are no tea gardens etc next to it. The real shock comes to you once you go into your room - The conditions can only be described as: A SHABBY STINKING ROOM IN A LODGE.
We booked it for 2 nights in Munnar by paying in advance, but after one night, we said, enough - and we rushed out, of course after losing the booking amount".
The TripAdvisor India site launched a little over 2 years ago already attracts over 3 million unique Indian visitors a month. Its popularity as one of the top 3 travel sites in the country is owing to its rich content on Indian destinations and hotels in the country coupled with the growing trend of Indians' planning their trips based on the experience of other travellers'.
To check out the list of the worst hotels worldwide go to
http://www.tripadvisor.in/DirtyHotels
For a window of respite from the worst check out the top hotels worldwide by region including India in the 2011 Travellers' Choice Awards list at http://www.tripadvisor.in/travelerschoice
About TripAdvisor
TripAdvisor® is the world's largest travel site, enabling travellers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travellers and a wide variety of travel choices and planning features with seamless links to booking tools.
TripAdvisor® Media Group, operated by TripAdvisor LLC, attracts more than 50 million unique monthly visitors* across 17 popular travel brands**. TripAdvisor-branded sites make up the largest travel community in the world, with more than 40 million unique monthly visitors***, 20 million members, and over 40 million reviews and opinions. The sites operate in 26 countries worldwide****, including China under daodao.com. TripAdvisor also operates TripAdvisor for Business, a dedicated division that provides the tourism industry access to TripAdvisor's millions of monthly visitors. The division includes Business Listings, which allows hoteliers to connect directly to millions of researching travellers, and Vacation Rentals, which helps property managers and individual home owners list their properties and showcase hotel alternatives.
TripAdvisor Media Group websites have been recognized as top travel resources in 2010 by Condé Nast Traveller, Good Housekeeping, TIME magazine and Travel + Leisure.
TripAdvisor and the sites comprising the TripAdvisor Media Group are operating companies of Expedia, Inc. (NASDAQ: EXPE).
TripAdvisor and the TripAdvisor logo are trademarks or registered trademarks of TripAdvisor LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.
©2010 TripAdvisor LLC. All rights reserved.
*Source: comScore Media Metrix for TripAdvisor Media Group Sites, Worldwide, August 2010
CONTACT DETAILS
Nikita Kejariwal, 2020 MEDIA, +91 9167443578, nikita@2020india.com
Devvaki Aggarwal, 2020 MEDIA, +91 9899157234, Devvaki@2020india.com
KEYWORDS
CONSUMER, LAW, SOCIAL, TOURISM, BUSINESS SERVICES, HOSPITALITY, TRAVEL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: WNS Wins the Golden Peacock National Quality Award – 2011
Press release from Business Wire India
Source: WNS
Saturday, January 29, 2011 01:00 PM IST (07:30 AM GMT)
Editors: General: Consumer interest, People, WNS; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
WNS Wins the Golden Peacock National Quality Award - 2011
Recognized for Overall Business Excellence and Quality Standards
Mumbai, Maharashtra, India, Saturday, January 29, 2011 -- (Business Wire India) -- The Institute of Directors, a non-profit apex association of company directors committed to improving the competitiveness of Indian Business, has awarded WNS (Holdings) Limited (NYSE: WNS), the Golden Peacock National Quality Award for the year 2011, for its excellence in delivering transformational and cutting-edge outsourcing solutions.
WNS, a leading provider of global Business Process Outsourcing (BPO) services, was awarded this prestigious recognition at the 21st World Congress on Total Quality, being held from 28-30 Jan., 2011, at Hotel Leela Kempinski, Mumbai, India. Keshav R. Murugesh, Group CEO, WNS Global Services, received the award from His Excellency K. Sankaranarayanan, Honorable Governor of Maharashtra, in the presence of a distinguished gathering of business leaders, quality connoisseurs, environmentalists, economists and policy makers.
WNS was adjudged the winner after evaluating an exhaustive set of parameters across overall strategic management and business development, leadership, strategy, people development, process management, employee and customer satisfaction, and business results. The jury was chaired by Justice P.N. Bhagwati, former Chief Justice of India and Member, UN Human Rights Commission. "This award is testimony to the transformational path the company is set on, and the clear edge it has over its competition in terms of delivering a sustainable advantage," said Manoj K. Raut, CEO, Institute of Directors. WNS was earlier the proud recipient of the Golden Peacock Eco-Innovation Award in the year 2009 for its Green Lean Sigma program towards attaining carbon neutrality.
"WNS is indeed honored to be receiving the Golden Peacock National Quality Award for business excellence and quality standards. This award has been possible only because of the immense faith our clients have imposed in our talent, domain expertise, and innovative, outcome-based strategies," said Keshav R. Murugesh. "It is dedicated to each of our 21,000 innovative and passionate employees who are focused on helping our global clients Outperform in the marketplace," he added.
About The Golden Peacock Awards
The Golden Peacock Awards (GPA) is a set of prestigious national and global awards designed to improve productivity and quality in organizations. It aims to promote business excellence by providing a framework or criteria for assessment that is based on similar principles as other awards throughout the world. The Golden Peacock National Quality Award, named after India's national bird the "Peacock", is awarded to organization in manufacturing and service sector to encourage Total Quality improvements is a way to build an organization's brand equity on QUALITY.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process outsourcing company. WNS offers business value to 200+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics and Healthcare and Utilities. WNS delivers an entire spectrum of business process outsourcing services such as finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes. WNS has over 21,000 professionals across 21 delivery centers worldwide including Costa Rica, India, Philippines, Romania, Sri Lanka and United Kingdom. For more information, visit www.wns.com
WNS Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, assumptions, estimates and projections about our Company and our industry. The forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Those statements include, among other things, the discussions of our business strategy, industry growth potential, expansion opportunities, expectations concerning our future financial performance and growth potential, including our fiscal 2011 guidance and future profitability, our ability to generate free cash, relevant foreign currency exchange rates, and our future operations. We caution you that reliance on any forward-looking statement involves risks and uncertainties, and that although we believe that the assumptions on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and, as a result, the forward-looking statements based on those assumptions could be materially incorrect. These factors include but are not limited to worldwide economic and business conditions; political or economic instability in the jurisdictions where we have operations; regulatory, legislative and judicial developments; our ability to attract and retain clients; technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; the implications of the accounting changes and restatement of our financial statements as detailed in our annual report on Form 20-F for the fiscal year ended March 31, 2010 filed with the U.S. Securities and Exchange Commission (SEC), and any adverse developments in existing legal proceedings or the initiation of new legal proceedings; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; increasing competition in the BPO industry; our ability to successfully grow our revenue, expand our service offerings and market share and achieve accretive benefits from our acquisition of Aviva Global Services Singapore Pte. Ltd. (which we have renamed as WNS Customer Solutions (Singapore) Private Limited following our acquisition), and our master services agreement with Aviva Global Services (Management Services) Private Limited; our ability to successfully consummate strategic acquisitions; and volatility of WNS's ADS price. These and other factors are more fully discussed in our annual report on Form 20-F for the fiscal year ended March 31, 2010 filed with the SEC which is available at www.sec.gov. In light of these and other uncertainties, you should not conclude that we will necessarily achieve any plans, objectives or projected financial results referred to in any of the forward-looking statements. Except as required by law, we do not undertake to release revisions of any of these forward-looking statements to reflect future events or circumstances.
CONTACT DETAILS
Sumi Gupta, Global Head - Public Relations, WNS Global Services, +91 (22) 4095 2263, sumi.gupta@wns.com; pr@wns.com
Alan Katz, Investor Relations, WNS Global Services, +1 212 277-8183, ir@wns.com
KEYWORDS
CONSUMER, PEOPLE, WNS, MARKETING, BUSINESS SERVICES, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: WNS
Saturday, January 29, 2011 01:00 PM IST (07:30 AM GMT)
Editors: General: Consumer interest, People, WNS; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Telecommunications; Technology
--------------------------------------------------
WNS Wins the Golden Peacock National Quality Award - 2011
Recognized for Overall Business Excellence and Quality Standards
Mumbai, Maharashtra, India, Saturday, January 29, 2011 -- (Business Wire India) -- The Institute of Directors, a non-profit apex association of company directors committed to improving the competitiveness of Indian Business, has awarded WNS (Holdings) Limited (NYSE: WNS), the Golden Peacock National Quality Award for the year 2011, for its excellence in delivering transformational and cutting-edge outsourcing solutions.
WNS, a leading provider of global Business Process Outsourcing (BPO) services, was awarded this prestigious recognition at the 21st World Congress on Total Quality, being held from 28-30 Jan., 2011, at Hotel Leela Kempinski, Mumbai, India. Keshav R. Murugesh, Group CEO, WNS Global Services, received the award from His Excellency K. Sankaranarayanan, Honorable Governor of Maharashtra, in the presence of a distinguished gathering of business leaders, quality connoisseurs, environmentalists, economists and policy makers.
WNS was adjudged the winner after evaluating an exhaustive set of parameters across overall strategic management and business development, leadership, strategy, people development, process management, employee and customer satisfaction, and business results. The jury was chaired by Justice P.N. Bhagwati, former Chief Justice of India and Member, UN Human Rights Commission. "This award is testimony to the transformational path the company is set on, and the clear edge it has over its competition in terms of delivering a sustainable advantage," said Manoj K. Raut, CEO, Institute of Directors. WNS was earlier the proud recipient of the Golden Peacock Eco-Innovation Award in the year 2009 for its Green Lean Sigma program towards attaining carbon neutrality.
"WNS is indeed honored to be receiving the Golden Peacock National Quality Award for business excellence and quality standards. This award has been possible only because of the immense faith our clients have imposed in our talent, domain expertise, and innovative, outcome-based strategies," said Keshav R. Murugesh. "It is dedicated to each of our 21,000 innovative and passionate employees who are focused on helping our global clients Outperform in the marketplace," he added.
About The Golden Peacock Awards
The Golden Peacock Awards (GPA) is a set of prestigious national and global awards designed to improve productivity and quality in organizations. It aims to promote business excellence by providing a framework or criteria for assessment that is based on similar principles as other awards throughout the world. The Golden Peacock National Quality Award, named after India's national bird the "Peacock", is awarded to organization in manufacturing and service sector to encourage Total Quality improvements is a way to build an organization's brand equity on QUALITY.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process outsourcing company. WNS offers business value to 200+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics and Healthcare and Utilities. WNS delivers an entire spectrum of business process outsourcing services such as finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes. WNS has over 21,000 professionals across 21 delivery centers worldwide including Costa Rica, India, Philippines, Romania, Sri Lanka and United Kingdom. For more information, visit www.wns.com
WNS Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, assumptions, estimates and projections about our Company and our industry. The forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Those statements include, among other things, the discussions of our business strategy, industry growth potential, expansion opportunities, expectations concerning our future financial performance and growth potential, including our fiscal 2011 guidance and future profitability, our ability to generate free cash, relevant foreign currency exchange rates, and our future operations. We caution you that reliance on any forward-looking statement involves risks and uncertainties, and that although we believe that the assumptions on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and, as a result, the forward-looking statements based on those assumptions could be materially incorrect. These factors include but are not limited to worldwide economic and business conditions; political or economic instability in the jurisdictions where we have operations; regulatory, legislative and judicial developments; our ability to attract and retain clients; technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; the implications of the accounting changes and restatement of our financial statements as detailed in our annual report on Form 20-F for the fiscal year ended March 31, 2010 filed with the U.S. Securities and Exchange Commission (SEC), and any adverse developments in existing legal proceedings or the initiation of new legal proceedings; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; increasing competition in the BPO industry; our ability to successfully grow our revenue, expand our service offerings and market share and achieve accretive benefits from our acquisition of Aviva Global Services Singapore Pte. Ltd. (which we have renamed as WNS Customer Solutions (Singapore) Private Limited following our acquisition), and our master services agreement with Aviva Global Services (Management Services) Private Limited; our ability to successfully consummate strategic acquisitions; and volatility of WNS's ADS price. These and other factors are more fully discussed in our annual report on Form 20-F for the fiscal year ended March 31, 2010 filed with the SEC which is available at www.sec.gov. In light of these and other uncertainties, you should not conclude that we will necessarily achieve any plans, objectives or projected financial results referred to in any of the forward-looking statements. Except as required by law, we do not undertake to release revisions of any of these forward-looking statements to reflect future events or circumstances.
CONTACT DETAILS
Sumi Gupta, Global Head - Public Relations, WNS Global Services, +91 (22) 4095 2263, sumi.gupta@wns.com; pr@wns.com
Alan Katz, Investor Relations, WNS Global Services, +1 212 277-8183, ir@wns.com
KEYWORDS
CONSUMER, PEOPLE, WNS, MARKETING, BUSINESS SERVICES, IT, MEDIA, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Friday, January 28, 2011
BWI: HCL Infosystems on a growth path, Net profit up by 18% QoQ
Press release from Business Wire India
Source: HCL Infosystems Ltd
Friday, January 28, 2011 06:18 PM IST (12:48 PM GMT)
Editors: General: Economy; Business: Financial Analyst, Information technology, Major diversified industrial groups, Stock exchanges; Technology
--------------------------------------------------
HCL Infosystems on a growth path, Net profit up by 18% QoQ
Noida, Delhi, India, Friday, January 28, 2011 -- (Business Wire India) -- . Bagged Systems Integration Orders of over Rs. 455 crores during the quarter
. Revenue from Computer Systems business for the quarter was Rs. 1040 crores; up 44% Y-o-Y & 16% sequentially
. Revenue from Telecommunication and Office Automation business for the quarter was Rs. 2104 crores; down 10% Y-o-Y & up 1% sequentially
. Revenue from Office Automation and Digital Entertainment business for the quarter was Rs. 376 crores; up 24% Y-o-Y & 22% sequentially
. Revenue from Telecom Distribution business for the quarter was Rs. 1726 crores; down 14% Y-o-Y & 1% sequentially
. Board of Directors declared 100% quarterly Interim dividend. This is the 30th continuous quarter for dividends.
HCL Infosystems India's premier Hardware, services and ICT Systems Integration, Hardware and Distribution Company today announced financial results for its second quarter ended December 31, 2010.
Mr. Ajai Chowdhry, Chairman, HCL Infosystems Limited, commenting on the results said - "We are clearly investing in the future and as we do so a new face of HCL Infosystems is unraveling with each day. This steady transformation has led the company reinvent itself, consistently winning various prestigious projects that are going to play an integral role in fueling our country's growth engine. Where we continue to focus and carry the baton of the need of Made in India, Made For India Product Engineering, R&D and manufacturing with creating IPs, today the company has emerged as a leading System Integrator with a host of solutions catering to areas like eGovernance, power, telecom, education & learning and security etc. As we're growing business, there are investments being made for capacity building along with seeking opportunities to both grow organically and inorganically. We recently did another strategic acquisition in Middle East and are actively looking at inorganic growth with a focus to expand both the geographical presence and further enhance our IT services capability"
"With sustainability an important pillar of our growth we have been very particular about the way we do business. HCL Infosystems was recently conferred one of the top Green Companies globally by Greenpeace and I am proud to say that this quarter HCL Infosystems achieved India's First LEED IC Platinum certification for HCL Green Data Center"
Mr. Harsh Chitale, Chief Executive Officer, HCL Infosystems Limited, commenting on the results said - "This quarter has witnessed our growth programs kicking in with us ending it with an all time high order book. There have been some key wins in the System Integration space across sectors further strengthening our order pipeline and on the other hand our computer hardware business has also recorded good growth. We have also taken some portfolio decisions like disinvestment in HCL Infinet which are intended to not only further consolidate our offerings but to also increase focus on the indentified strategic growth areas."
"Talking about our education business, HCL Learning has opened a big market for us, responding well with recording good growth during the quarter and also showing healthy signs with rapid order bookings. I am confident with renewed focus and consistent investment in these growth areas the organisation will soon be on the growth trajectory it has set for itself"
The company's charter of expansion led by transformation in the Services and System Integration business has resulted in the introduction of new practices, new products through IP creation for diverse System Integration solutions. The expansion strategy also involves tapping emerging sectors and aggressively augments services, exports and inorganic growth through possible mergers and acquisition.
Investing in the future
. Employee strength grew to 7260 professionals as on December 31, 2010
. Overseas expansion through inorganic growth in high potential emerging markets
. Acquired 20% equity stake in a Dubai-based Telecom company for distribution of Nokia smartphones in Middle East and Africa
. Consolidated service offerings, SPA signed for subsidiary Infinet with an increased focus on strengthening its core business areas and expand into identified growth areas
. Expansion of existing Software Development Centre at Jaipur
. Achieved India's First LEED IC Platinum certification for HCL Green Data Center
. Forayed in the kids entertainment market with ME gaming consoles and ME Kids Educational Computers
. Committed to sustainability, further invested in the development of green products
Key developments and growth programs
System Integration
. Bagged an order from a leading telecom company for consolidating bill delivery mechanism in North & West zone
. Bagged an order for design, installation and maintenance of border check post and central control room infrastructure for a state government
. Other orders included ERP order from a state government under Directorate of Technical Education for the implementation of MIS in 100 colleges, an order from Indian Railways for providing Converged Solutions, order to implement an emergency response system for a state police etc.
HCL Learning (Education & Learning division of HCL Infosystems)
. HCL Learning further strengthened and recorded good growth
. Bagged HP Sarva Sikhsha Aviyaan project worth Rs. 40 Cr approximately
. Signed over 100 schools and 1000 classrooms under its HCL Learning Digischool program
. Various programs were launched like ' Xcelerate', to provide Live Video Learning for various competitive examinations, Project Kaushal to provide vocational IT training for Indian Army, an order from a State Electronics Corporation for setting up 788 Language Lab and licenses for language labs to conduct the courses in Govt. Schools etc.
Enhancing PC adoption
. Bagged an order from
. Kerala State Electronics Development Corporation Ltd. for IT@School Project by the Government of Kerala to provide over 6500 laptops and netbooks
. Assam Electronics Development Corporation Ltd. by the Government of Assam to provide over 7000 laptops and netbooks.
. Alliance with Ernakulam District Co-operative Bank to provide interest free Computer Loans
. New desktop based on Intel H55 and Intel Q57 chipsets were rolled out
. Launched HCL ME Laptop 75 and HCL ME Series 08, 3G capable netbook
Expansion of Overseas Business with HCL Infosystems MEA
. HCL Infosystems MEA signed a multi-million dollar agreement with Mercator, to manage IT infrastructure for flydubai
Digital lifestyle - New products added to the portfolio
. Digital Lifestyle business added new products to its portfolio of consumer electronics and mobile accessories - Signed distribution agreement with HP PSG India for the HP DreamScreen400
. Launch of Nokia C7 and much awaited Nokia N8 was well received
Awards and Accolades
. Mr. Ajai Chowdhry conferred Padma Bhushan by the President of India for his outstanding contribution to the industry
. Mr. Ajai Chowdhry awarded with 'CNBC Asia Business Leader Viewer's Choice Award 2010'
. Mr. Ajai Chowdhry honoured with 'India Innovator of the Year Award' at the 6th edition of the CNBC TV 18 India Business Leader Awards 2010
. Mr. Ajai Chowdhry, Chairman, conferred with Honoris Causa Doctorate of Science (D. Sc.) by IIT Roorkee
. HCL Infosystems achieved India's First LEED IC Platinum certification for HCL Green Data Center
. Received ELCINA-EFY Award 2009-10 for Environmental Management
. Hcl Infosystems awarded CXO Award 2010 - The IT Chapter in the category of Indian Hardware Brand of the Year 2010
. Gained world-wide 2nd rank in the latest Green Peace rankings with a rating of 7.1
About HCL Infosystems
HCL Infosystems Ltd, with revenue (LTM) of US$ 2.6 billion (Rs.12,221 crores) is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for all the ICT requirements of an organisation. India's leading System Integration and Infrastructure Management Services Organisation, HCL has specialised expertise across verticals including Telecom, BFSI, eGovernance & Power. HCL has India's largest distribution and retail network, taking to market a range of Digital Lifestyle products in partnership with leading global ICT brands, including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft, Nokia, Toshiba, and many more. HCL today has India's largest vertically integrated computer manufacturing facility with over three decades of electronic manufacturing experience & HCL desktops is the largest selling brand into the enterprise space. With India's largest ICT services network that reaches to every corner of India, HCL's award winning Support Services makes it the preferred choice of enterprise and consumers, alike. HCL Infosystems has a 100% subsidiary that addresses the physical security technology system integration market. The subsidiary leverages technology to build a security framework called 'Safe State' that safe guard's life, infrastructure & society. For more information please visit us at www.hclinfosystems.in
Result Highlights
About HCL
HCL is a $ 5.5 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 71,000 professionals of diverse nationalities, who operate from 29 countries including over 500 points of presence in India. HCL has partnerships with several leading Global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Please click on the link mentioned below to view the HCL Q2 FY 11 Results:
HCL Q2 FY 11 Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Result Highlights.doc
Result Highlights.doc
http://www.BusinessWireIndia.com/attachments/HCL Q2 FY 11 Results.xls
HCL Q2 FY 11 Results.xls
CONTACT DETAILS
Ashutosh Bhattacharya, HCL Infosystems Ltd, + 919811920415, ashutosh.bhattacharya@hcl.in
Rashi Mehrotra, Hanmer, +919958594111, rashi.mehrotra@hanmermsl.com
Richa Chauhan, Hanmer, +919999492599, richachauhan@hanmermsl.com
KEYWORDS
ECONOMY, Financial Analyst, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY
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Source: HCL Infosystems Ltd
Friday, January 28, 2011 06:18 PM IST (12:48 PM GMT)
Editors: General: Economy; Business: Financial Analyst, Information technology, Major diversified industrial groups, Stock exchanges; Technology
--------------------------------------------------
HCL Infosystems on a growth path, Net profit up by 18% QoQ
Noida, Delhi, India, Friday, January 28, 2011 -- (Business Wire India) -- . Bagged Systems Integration Orders of over Rs. 455 crores during the quarter
. Revenue from Computer Systems business for the quarter was Rs. 1040 crores; up 44% Y-o-Y & 16% sequentially
. Revenue from Telecommunication and Office Automation business for the quarter was Rs. 2104 crores; down 10% Y-o-Y & up 1% sequentially
. Revenue from Office Automation and Digital Entertainment business for the quarter was Rs. 376 crores; up 24% Y-o-Y & 22% sequentially
. Revenue from Telecom Distribution business for the quarter was Rs. 1726 crores; down 14% Y-o-Y & 1% sequentially
. Board of Directors declared 100% quarterly Interim dividend. This is the 30th continuous quarter for dividends.
HCL Infosystems India's premier Hardware, services and ICT Systems Integration, Hardware and Distribution Company today announced financial results for its second quarter ended December 31, 2010.
Mr. Ajai Chowdhry, Chairman, HCL Infosystems Limited, commenting on the results said - "We are clearly investing in the future and as we do so a new face of HCL Infosystems is unraveling with each day. This steady transformation has led the company reinvent itself, consistently winning various prestigious projects that are going to play an integral role in fueling our country's growth engine. Where we continue to focus and carry the baton of the need of Made in India, Made For India Product Engineering, R&D and manufacturing with creating IPs, today the company has emerged as a leading System Integrator with a host of solutions catering to areas like eGovernance, power, telecom, education & learning and security etc. As we're growing business, there are investments being made for capacity building along with seeking opportunities to both grow organically and inorganically. We recently did another strategic acquisition in Middle East and are actively looking at inorganic growth with a focus to expand both the geographical presence and further enhance our IT services capability"
"With sustainability an important pillar of our growth we have been very particular about the way we do business. HCL Infosystems was recently conferred one of the top Green Companies globally by Greenpeace and I am proud to say that this quarter HCL Infosystems achieved India's First LEED IC Platinum certification for HCL Green Data Center"
Mr. Harsh Chitale, Chief Executive Officer, HCL Infosystems Limited, commenting on the results said - "This quarter has witnessed our growth programs kicking in with us ending it with an all time high order book. There have been some key wins in the System Integration space across sectors further strengthening our order pipeline and on the other hand our computer hardware business has also recorded good growth. We have also taken some portfolio decisions like disinvestment in HCL Infinet which are intended to not only further consolidate our offerings but to also increase focus on the indentified strategic growth areas."
"Talking about our education business, HCL Learning has opened a big market for us, responding well with recording good growth during the quarter and also showing healthy signs with rapid order bookings. I am confident with renewed focus and consistent investment in these growth areas the organisation will soon be on the growth trajectory it has set for itself"
The company's charter of expansion led by transformation in the Services and System Integration business has resulted in the introduction of new practices, new products through IP creation for diverse System Integration solutions. The expansion strategy also involves tapping emerging sectors and aggressively augments services, exports and inorganic growth through possible mergers and acquisition.
Investing in the future
. Employee strength grew to 7260 professionals as on December 31, 2010
. Overseas expansion through inorganic growth in high potential emerging markets
. Acquired 20% equity stake in a Dubai-based Telecom company for distribution of Nokia smartphones in Middle East and Africa
. Consolidated service offerings, SPA signed for subsidiary Infinet with an increased focus on strengthening its core business areas and expand into identified growth areas
. Expansion of existing Software Development Centre at Jaipur
. Achieved India's First LEED IC Platinum certification for HCL Green Data Center
. Forayed in the kids entertainment market with ME gaming consoles and ME Kids Educational Computers
. Committed to sustainability, further invested in the development of green products
Key developments and growth programs
System Integration
. Bagged an order from a leading telecom company for consolidating bill delivery mechanism in North & West zone
. Bagged an order for design, installation and maintenance of border check post and central control room infrastructure for a state government
. Other orders included ERP order from a state government under Directorate of Technical Education for the implementation of MIS in 100 colleges, an order from Indian Railways for providing Converged Solutions, order to implement an emergency response system for a state police etc.
HCL Learning (Education & Learning division of HCL Infosystems)
. HCL Learning further strengthened and recorded good growth
. Bagged HP Sarva Sikhsha Aviyaan project worth Rs. 40 Cr approximately
. Signed over 100 schools and 1000 classrooms under its HCL Learning Digischool program
. Various programs were launched like ' Xcelerate', to provide Live Video Learning for various competitive examinations, Project Kaushal to provide vocational IT training for Indian Army, an order from a State Electronics Corporation for setting up 788 Language Lab and licenses for language labs to conduct the courses in Govt. Schools etc.
Enhancing PC adoption
. Bagged an order from
. Kerala State Electronics Development Corporation Ltd. for IT@School Project by the Government of Kerala to provide over 6500 laptops and netbooks
. Assam Electronics Development Corporation Ltd. by the Government of Assam to provide over 7000 laptops and netbooks.
. Alliance with Ernakulam District Co-operative Bank to provide interest free Computer Loans
. New desktop based on Intel H55 and Intel Q57 chipsets were rolled out
. Launched HCL ME Laptop 75 and HCL ME Series 08, 3G capable netbook
Expansion of Overseas Business with HCL Infosystems MEA
. HCL Infosystems MEA signed a multi-million dollar agreement with Mercator, to manage IT infrastructure for flydubai
Digital lifestyle - New products added to the portfolio
. Digital Lifestyle business added new products to its portfolio of consumer electronics and mobile accessories - Signed distribution agreement with HP PSG India for the HP DreamScreen400
. Launch of Nokia C7 and much awaited Nokia N8 was well received
Awards and Accolades
. Mr. Ajai Chowdhry conferred Padma Bhushan by the President of India for his outstanding contribution to the industry
. Mr. Ajai Chowdhry awarded with 'CNBC Asia Business Leader Viewer's Choice Award 2010'
. Mr. Ajai Chowdhry honoured with 'India Innovator of the Year Award' at the 6th edition of the CNBC TV 18 India Business Leader Awards 2010
. Mr. Ajai Chowdhry, Chairman, conferred with Honoris Causa Doctorate of Science (D. Sc.) by IIT Roorkee
. HCL Infosystems achieved India's First LEED IC Platinum certification for HCL Green Data Center
. Received ELCINA-EFY Award 2009-10 for Environmental Management
. Hcl Infosystems awarded CXO Award 2010 - The IT Chapter in the category of Indian Hardware Brand of the Year 2010
. Gained world-wide 2nd rank in the latest Green Peace rankings with a rating of 7.1
About HCL Infosystems
HCL Infosystems Ltd, with revenue (LTM) of US$ 2.6 billion (Rs.12,221 crores) is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for all the ICT requirements of an organisation. India's leading System Integration and Infrastructure Management Services Organisation, HCL has specialised expertise across verticals including Telecom, BFSI, eGovernance & Power. HCL has India's largest distribution and retail network, taking to market a range of Digital Lifestyle products in partnership with leading global ICT brands, including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft, Nokia, Toshiba, and many more. HCL today has India's largest vertically integrated computer manufacturing facility with over three decades of electronic manufacturing experience & HCL desktops is the largest selling brand into the enterprise space. With India's largest ICT services network that reaches to every corner of India, HCL's award winning Support Services makes it the preferred choice of enterprise and consumers, alike. HCL Infosystems has a 100% subsidiary that addresses the physical security technology system integration market. The subsidiary leverages technology to build a security framework called 'Safe State' that safe guard's life, infrastructure & society. For more information please visit us at www.hclinfosystems.in
Result Highlights
About HCL
HCL is a $ 5.5 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 71,000 professionals of diverse nationalities, who operate from 29 countries including over 500 points of presence in India. HCL has partnerships with several leading Global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Please click on the link mentioned below to view the HCL Q2 FY 11 Results:
HCL Q2 FY 11 Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Result Highlights.doc
Result Highlights.doc
http://www.BusinessWireIndia.com/attachments/HCL Q2 FY 11 Results.xls
HCL Q2 FY 11 Results.xls
CONTACT DETAILS
Ashutosh Bhattacharya, HCL Infosystems Ltd, + 919811920415, ashutosh.bhattacharya@hcl.in
Rashi Mehrotra, Hanmer, +919958594111, rashi.mehrotra@hanmermsl.com
Richa Chauhan, Hanmer, +919999492599, richachauhan@hanmermsl.com
KEYWORDS
ECONOMY, Financial Analyst, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Oriental Bank of Commerce - Performance Highlights for the Quarter Ended December 2010
Press release from Business Wire India
Source: Oriental Bank of Commerce
Friday, January 28, 2011 06:33 PM IST (01:03 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Financial Analyst, Stock exchanges
--------------------------------------------------
Oriental Bank of Commerce - Performance Highlights for the Quarter Ended December 2010
New Delhi, Delhi, India, Friday, January 28, 2011 -- (Business Wire India) -- Operating profit grows by 24.27% to touch rs.773.92 crore, Net profit records 41.05 % growth to reach rs.408.25 crore, net interest income surges by 17.98%(yoy), net interest margin stood at 3.10%
-- Net Interest Income increased to Rs.1029.85 crore from Rs. 872.87 crore showing a growth of 17.98% (YoY).
-- NIM improved to 3.10% from 3% as on Dec'09 .
-- Decline of 16 bps in cost of deposits to 6.08%.
-- Capital adequacy Ratio (Basel II) is comfortable at 12.38%.
-- Earnings per share increased to Rs. 65.20 (annualized).
Performance Highlights for the quarter ended December 2010
Profit
-- Net Profit of the Bank recorded a YoY growth of 41.05% to reach Rs. 408.25 crore for the third quarter of 2010-11(Q3 FY'11) as compared to a profit of Rs. 289.43 crore in Q3 FY'10.
- Net Profit from core operations (excluding treasury operation) witnessed a jump of 78.35% to reach Rs. 376.82 crore in Q3FY'11 from Rs. 211.28 crore in Q3FY'10.
-- Net Profit for the Nine Months ended Dec'10 amounted to Rs. 1169.21 crore as compared to Rs. 817.64 crore last year, registering a YoY growth of 43%.
-- Operating Profit for Q3 FY'11 stood at Rs. 773.92 crore as against Rs. 622.79 crore in Q3 FY'10 registering a YoY growth of 24.27%.
- Core Operating Profit excluding trading profit rose substantially by 36.33 % to Rs. 742.49 crore in Q3 FY'11 from Rs. 544.64 crore in Q3FY'10.
-- Operating Profit of the Bank during the Nine Months FY'11 grew by 46.07% to reach Rs. 2402.18 crore from Rs. 1644.58 crore as compared to Nine Months of FY'10.
Business
-- Total Business of the Bank rose to Rs. 220136 crore as compared to Rs. 189300 crore in Dec'09, showing a YoY growth of 16.29%.
-- Deposits at the end of Dec'10 amounted to Rs. 129335 crore as compared to Rs. 110745 crore in Dec'09, exhibiting a growth of 16.79% on YoY basis.
-- Saving deposits increased by 27.69% to Rs. 23317 crore while current deposits rose by 5.48% to Rs. 9271 crore.
-- Advance of the Bank at Rs. 90801 crore at the end of Dec'10 grew by 15.59% (YoY) from Rs. 78555 crore at the end of Dec'09.
-- Credit Deposit Ratio stood at 70.32%.
Income
-- Total income during Q3FY'11 rose by 12.20% to Rs. 3264.17 crore due to healthy growth of 13.52% in interest Income which reached Rs.3032.76 crore.
-- Total Income during Nine Months FY'11 increased to Rs.9515.75 crore recording a growth of 11.87% on account of 16.96% growth in Interest Income (Rs.8855.51 crore).
-- Net Interest income during Q3FY'11 improved by 17.98% to Rs.1029.85 crore from Rs.872.87 crore.
-- Non-Interest Income in Q3 FY'11 amounted to Rs. 231.41 crore (Nine Months FY'11: Rs.660.24 crore).
Important Ratio
-- Gross NPA ratio stood at 1.94% as at Dec'10 whereas Net NPA ratio stood at 0.91%.
-- Provision Coverage Ratio at 77.42% was above stipulated 70%.
-- Net Interest Margin (NIM) stood at 3.10% for the quarter ended Dec'10 and 3.25% for Nine Months ended Dec'10.
-- Returns on Assets stood at 1.11% in the Q3FY'11 (Nine Months FY'11: 1.08%).
-- Cost of Deposit reduced by 16 bps to 6.08% in Q3FY'11 (Nine Months FY'11: 5.85% reduced by 104 bps).
-- Cost to income ratio reduced by 516 bps to 37.19 % in Nine Months FY'11 as against 42.35 % last Year.
-- Earnings per Share (annualized) stood at Rs. 65.20 for the Q3 against Rs. 46.20 last year (Nine Months ended Dec' 10: Rs. 46.67 against Rs. 32.64 in previous period).
-- Book Value Per Share improved to Rs.338.86 in Dec'10 as against Rs. 290.18 in Dec'09.
-- CRAR of the Bank is strong at 12.38% under BASEL-II (Tier-I Capital: 9.09%; Tier -II Capital : 3.29%).
-- Business per Branch increased to Rs. 139.95 crore from Rs. 130.55 crore registering a growth of 7.20% (YoY).
-- Business per Employee increased to Rs. 13.37 crore from Rs. 12.15 crore registering a growth of 9.98% (YoY).
Delivery Channels
-- Bank's branch network stood at 1573 Branches with 33 extension counteRs.. Plans to add around 104 more branches before the end of the year.
-- Installed 45 ATMs during Q3 for our 23.82 lac card holdeRs.. The total number of ATMs as on Dec'10 stood at 1123(including 6 Mobile ATMs and 2 Biometric ATMs).
-- More than 3.30 lac internet banking useRs. with 9.96 lac customeRs. availing SMS facility.
-- Bank is offering RTGS and NEFT through all Service Outlets.
Retail Credit
-- Retail loans (excluding Indirect Housing) at Rs. 7495 crore constituted 8.20% of Total Advances and grew by 17.83 % on YoY basis.
- Good growth in Education loan at 14.98% (YoY) and Car/Vehicle Loan at 43.34% (YoY).
- Direct Housing loan portfolio rose by 17.65% (YoY) to reach Rs. 4302 crore.
-- Under the Festival Bonanza Housing and Vehicle loans started in Oct'10 and ended on 31st Dec,2010, Bank generated business worth Rs. 660 crore out of which Rs. 469 crore was under Housing and Rs. 191 crore under Vehicle Loan.
International Forays
-- Bank has established oveRs.eas footprints via Representative Office in Dubai which was opened in March 2009.
-- Bank plans to open its 1st OveRs.eas Branch in 2011 at Dubai International Financial Center and has sought RBI approval for the same. It will help the Bank to gain foot hold in international market for future growth. The Bank shall also explore further locations in near future for setting up its operation in developing countries that provides business opportunity to Indian corporates.
CSR Initiatives
-- As a part of its Corporate Social Responsibility, the Bank has set up a Trust in the name of 'OBC Rural Development Trust' on 09.12.2005 for setting up of Rural Self Employment Training Institutes (RUDSETIs).
-- The Trust has set up Institutes in four Districts, viz., Jaipur, Sriganganagar, Ferozepur and Dehradun. Since inception, a total of 556 training programmes have been conducted benefiting 19952 candidates.
-- Free training on skill development to rural unemployed youth is imparted for self-employment generating activities such as Tailoring, Stitching and Embroidery, Phulkari, Food Preservation, etc.
-- The activities of the Trust also cover education of farmeRs. in crop diveRs.ification, formation of Self Help Groups, Skill Development, EntrepreneuRs.hip development and promoting use of non-conventional energy.
-- The Bank has operationalised voice enabled ATMs for the visually impaired and Biometric ATMs. The Bank has assisted in improving computer literacy among children and has provided financial assistance to NGOs and Institutions committed to social cause.
-- A Project for extending social welfare schemes such as NREGA, Pension, etc. has been launched in 6 Districts viz. Sriganganagar and Hanumangarh in Rajasthan, Amritsar, Gurdaspur and Muktsar in Punjab and Jind in Haryana. A total number of 1,25,452 smart cards have been issued out of which 1,06,149 cards have been activated up to 31.12.2010.
-- Bank also provided medical assistance to villageRs. in some identified villages through a Rural Clinic Programme.
Priority Sector
-- PS Advances grew by 20.74% to Rs. 31685 crore.
- Agricultural advances grew by 16.67% to Rs.11029.41 crore as at Dec'10.
- Issued 70707 Kisan Credit Cards during Nine Months ended 31st Dec,2010 with an amount of Rs. 1418.27 crore.
Micro Small & Medium Enterprises
-- Credit to MSME Sector grew by 56% to more than Rs. 15437 crore as at end of Dec' 10.
-- Number of SME Accounts increased to 166468 from 148380 and Bank's Fund Based exposure under SME to Rs. 13564 crore from Rs. 8304 crore thereby registering a growth of Rs. 5260 crore and an increase of 63.34% (YoY).
-- 7019 SME & MSME accounts with an amount of Rs. 1726.60 crore opened during Q3 of FY'11.
-- 20205 SME & MSME accounts with an amount of Rs. 2694.75 crore opened during Nine Months ended Dec'10.
-- 17 SME Specialised Branches and 45 MSME focused Branches as on 31st Dec,2010.
Financial Inclusion
-- 118193 NO FRILLS Accounts opened during Q3 of FY'11 and 383500 Accounts opened during Nine Months ended 31st Dec,2010 taking the number of total NO FRILLS Accounts to 13,96,421 as on 31st Dec,2010.
-- 570 villages have been allotted to the Bank with population of more than 2000. Out of these 300 villages are to be covered by 31.03.2011.
-- 27 villages have been adopted till 31st Dec, 2010 and work on the adoption of the remaining 273 villages during Q4 of this financial year is underway.
-- Bank has empanelled M/S FINO as technology provider and M/S FINO FINTECH FOUNDATION for extending IT enabled Banking services.
-- 27 CSPs/BCs have been engaged in 27 allotted villages up to Dec'10.
Empowerment Initiatives
-- Bank has launched Oriental Grameen Swarojgar Card (a micro credit product) for empowerment of rural entrepreneuRs. and to further speed up financial inclusion by way of providing finance to micro activities like cobbleRs., blacksmiths, vegetable vendoRs., tailoRs., kirana shop, carpenteRs., rickshaw pulleRs., tea vendoRs., barbeRs., fruit selleRs., etc. to eligible residents in the villages allotted to the Bank.
-- Bank has also launched a Micro Thrift Scheme called ORIENTAL GRAMEEN JAMA YOJANA - a cumulative deposit scheme for the financially excluded people in rural areas.
New Initiatives
-- Bank has commenced the sale of Gold Coins through its identified Branches across India. These coins are in 24 Carat Gold - 999.9 fineness in 5 gm, 8 gm and 10 gm in an attractive tamper proof packing with certification as per International Standards.
-- On 19th Nov, 2010, Oriental Bank of Commerce became the 1st Public Sector Nationalised Bank to commence the enrollment process for issuance of Unique Identification Number (Aadhaar) for the customers / staff of the Bank and public at large. This launch of UID enrollment process will accelerate the efforts of the Bank in its Financial Inclusion activities by using State of Art Biometric based micro ATMs and use of UID in Financial Transactions.
-- IT Initiatives
1. Stop Payment of Cheque and Cheque Status Inquiry for our cardholdeRs. through our ATMs.
2. ATM facility for visually impaired peRs.ons.
3. Facility of Online Internet e-commerce transaction through OBC Debit Card along with Verified by VISA as 2nd factor authentication.
-- The Bank is in a process of launching a Co-Branded Credit Card.
Insurance Joint Venture
-- During the third quarter of Financial Year 2010-11, the Bank marketed 13589 policies with fiRs.t premium collection of Rs. 53.24 crore and earned a commission of Rs. 6.88 crore from the operations of the Life Insurance Joint Venture of the Bank, viz. Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.
-- During the Nine Months ended Dec'10, the Bank marketed 32044 policies with fiRs.t premium collection aggregating Rs. 121.48 crore as compared to 26817 policies with fiRs.t premium collection of Rs. 85.05 crore during the corresponding period of last financial year.
HR Initiatives
-- During the quarter, Bank recruited 296 peRs.onnel including 26 Specialist OfficeRs..
-- 1541 peRs.onnel including 226 Specialist OfficeRs. have been recruited during the Nine Months ended Dec'10.
-- Recruitment process for 541 Specialist OfficeRs. is underway.
-- Written test for recruitment of 322 Probationary OfficeRs. and 1105 Clerks conducted recently.
Awards & Accolades
-- The Bank is accorded ISO 27001 Certificate for its Primary Data Centre, DR Site, Near Line Site & related processes at Department of Information Technology. It signifies adoption of international level security practices by our Bank, through which security becomes an integral part of the Business Process. It also conveys adoption of globally recognized standards.
-- The Bank has been awarded the "Amity Corporate Excellence Award" for the year 2010 by Amity International Business School, India.
-- Dun & Bradstreet has ranked the Bank among India's top PSUs companies 2009".
-- OBC figures in "FORBES Global -2000"- Rank upgraded from 2000th in 2004 to 1952nd place in 2008 to 1670th place in 2010.
-- National Institute of Banking Management (NIBM), Pune had adjudged OBC as "Customer Friendly Bank".
-- The Banker (London UK, July 2008) has ranked the Bank at 348th position among the top 1000 Banks in the world and 7th in the country wise ranking.
CONTACT DETAILS
Andalib Subzwari, Basic 4 Advertising Pvt. Ltd., +91 11 41734935, basicfour@gmail.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, Financial Analyst, STOCK EXCHANGES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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Source: Oriental Bank of Commerce
Friday, January 28, 2011 06:33 PM IST (01:03 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Financial Analyst, Stock exchanges
--------------------------------------------------
Oriental Bank of Commerce - Performance Highlights for the Quarter Ended December 2010
New Delhi, Delhi, India, Friday, January 28, 2011 -- (Business Wire India) -- Operating profit grows by 24.27% to touch rs.773.92 crore, Net profit records 41.05 % growth to reach rs.408.25 crore, net interest income surges by 17.98%(yoy), net interest margin stood at 3.10%
Amt. (YoY Growth)
Business Mix -- Rs. 2.20 lac crore (16.29 %)
Deposits -- Rs.1.29 lac crore (16.79 %)
Advances -- Rs. 0.91 lac crore (15.59 %)
Customer Base -- More than 1.5 Crore
-- Net Interest Income increased to Rs.1029.85 crore from Rs. 872.87 crore showing a growth of 17.98% (YoY).
-- NIM improved to 3.10% from 3% as on Dec'09 .
-- Decline of 16 bps in cost of deposits to 6.08%.
-- Capital adequacy Ratio (Basel II) is comfortable at 12.38%.
-- Earnings per share increased to Rs. 65.20 (annualized).
Performance Highlights for the quarter ended December 2010
Profit
-- Net Profit of the Bank recorded a YoY growth of 41.05% to reach Rs. 408.25 crore for the third quarter of 2010-11(Q3 FY'11) as compared to a profit of Rs. 289.43 crore in Q3 FY'10.
- Net Profit from core operations (excluding treasury operation) witnessed a jump of 78.35% to reach Rs. 376.82 crore in Q3FY'11 from Rs. 211.28 crore in Q3FY'10.
-- Net Profit for the Nine Months ended Dec'10 amounted to Rs. 1169.21 crore as compared to Rs. 817.64 crore last year, registering a YoY growth of 43%.
-- Operating Profit for Q3 FY'11 stood at Rs. 773.92 crore as against Rs. 622.79 crore in Q3 FY'10 registering a YoY growth of 24.27%.
- Core Operating Profit excluding trading profit rose substantially by 36.33 % to Rs. 742.49 crore in Q3 FY'11 from Rs. 544.64 crore in Q3FY'10.
-- Operating Profit of the Bank during the Nine Months FY'11 grew by 46.07% to reach Rs. 2402.18 crore from Rs. 1644.58 crore as compared to Nine Months of FY'10.
Business
-- Total Business of the Bank rose to Rs. 220136 crore as compared to Rs. 189300 crore in Dec'09, showing a YoY growth of 16.29%.
-- Deposits at the end of Dec'10 amounted to Rs. 129335 crore as compared to Rs. 110745 crore in Dec'09, exhibiting a growth of 16.79% on YoY basis.
-- Saving deposits increased by 27.69% to Rs. 23317 crore while current deposits rose by 5.48% to Rs. 9271 crore.
-- Advance of the Bank at Rs. 90801 crore at the end of Dec'10 grew by 15.59% (YoY) from Rs. 78555 crore at the end of Dec'09.
-- Credit Deposit Ratio stood at 70.32%.
Income
-- Total income during Q3FY'11 rose by 12.20% to Rs. 3264.17 crore due to healthy growth of 13.52% in interest Income which reached Rs.3032.76 crore.
-- Total Income during Nine Months FY'11 increased to Rs.9515.75 crore recording a growth of 11.87% on account of 16.96% growth in Interest Income (Rs.8855.51 crore).
-- Net Interest income during Q3FY'11 improved by 17.98% to Rs.1029.85 crore from Rs.872.87 crore.
-- Non-Interest Income in Q3 FY'11 amounted to Rs. 231.41 crore (Nine Months FY'11: Rs.660.24 crore).
Important Ratio
-- Gross NPA ratio stood at 1.94% as at Dec'10 whereas Net NPA ratio stood at 0.91%.
-- Provision Coverage Ratio at 77.42% was above stipulated 70%.
-- Net Interest Margin (NIM) stood at 3.10% for the quarter ended Dec'10 and 3.25% for Nine Months ended Dec'10.
-- Returns on Assets stood at 1.11% in the Q3FY'11 (Nine Months FY'11: 1.08%).
-- Cost of Deposit reduced by 16 bps to 6.08% in Q3FY'11 (Nine Months FY'11: 5.85% reduced by 104 bps).
-- Cost to income ratio reduced by 516 bps to 37.19 % in Nine Months FY'11 as against 42.35 % last Year.
-- Earnings per Share (annualized) stood at Rs. 65.20 for the Q3 against Rs. 46.20 last year (Nine Months ended Dec' 10: Rs. 46.67 against Rs. 32.64 in previous period).
-- Book Value Per Share improved to Rs.338.86 in Dec'10 as against Rs. 290.18 in Dec'09.
-- CRAR of the Bank is strong at 12.38% under BASEL-II (Tier-I Capital: 9.09%; Tier -II Capital : 3.29%).
-- Business per Branch increased to Rs. 139.95 crore from Rs. 130.55 crore registering a growth of 7.20% (YoY).
-- Business per Employee increased to Rs. 13.37 crore from Rs. 12.15 crore registering a growth of 9.98% (YoY).
Delivery Channels
-- Bank's branch network stood at 1573 Branches with 33 extension counteRs.. Plans to add around 104 more branches before the end of the year.
-- Installed 45 ATMs during Q3 for our 23.82 lac card holdeRs.. The total number of ATMs as on Dec'10 stood at 1123(including 6 Mobile ATMs and 2 Biometric ATMs).
-- More than 3.30 lac internet banking useRs. with 9.96 lac customeRs. availing SMS facility.
-- Bank is offering RTGS and NEFT through all Service Outlets.
Retail Credit
-- Retail loans (excluding Indirect Housing) at Rs. 7495 crore constituted 8.20% of Total Advances and grew by 17.83 % on YoY basis.
- Good growth in Education loan at 14.98% (YoY) and Car/Vehicle Loan at 43.34% (YoY).
- Direct Housing loan portfolio rose by 17.65% (YoY) to reach Rs. 4302 crore.
-- Under the Festival Bonanza Housing and Vehicle loans started in Oct'10 and ended on 31st Dec,2010, Bank generated business worth Rs. 660 crore out of which Rs. 469 crore was under Housing and Rs. 191 crore under Vehicle Loan.
International Forays
-- Bank has established oveRs.eas footprints via Representative Office in Dubai which was opened in March 2009.
-- Bank plans to open its 1st OveRs.eas Branch in 2011 at Dubai International Financial Center and has sought RBI approval for the same. It will help the Bank to gain foot hold in international market for future growth. The Bank shall also explore further locations in near future for setting up its operation in developing countries that provides business opportunity to Indian corporates.
CSR Initiatives
-- As a part of its Corporate Social Responsibility, the Bank has set up a Trust in the name of 'OBC Rural Development Trust' on 09.12.2005 for setting up of Rural Self Employment Training Institutes (RUDSETIs).
-- The Trust has set up Institutes in four Districts, viz., Jaipur, Sriganganagar, Ferozepur and Dehradun. Since inception, a total of 556 training programmes have been conducted benefiting 19952 candidates.
-- Free training on skill development to rural unemployed youth is imparted for self-employment generating activities such as Tailoring, Stitching and Embroidery, Phulkari, Food Preservation, etc.
-- The activities of the Trust also cover education of farmeRs. in crop diveRs.ification, formation of Self Help Groups, Skill Development, EntrepreneuRs.hip development and promoting use of non-conventional energy.
-- The Bank has operationalised voice enabled ATMs for the visually impaired and Biometric ATMs. The Bank has assisted in improving computer literacy among children and has provided financial assistance to NGOs and Institutions committed to social cause.
-- A Project for extending social welfare schemes such as NREGA, Pension, etc. has been launched in 6 Districts viz. Sriganganagar and Hanumangarh in Rajasthan, Amritsar, Gurdaspur and Muktsar in Punjab and Jind in Haryana. A total number of 1,25,452 smart cards have been issued out of which 1,06,149 cards have been activated up to 31.12.2010.
-- Bank also provided medical assistance to villageRs. in some identified villages through a Rural Clinic Programme.
Priority Sector
-- PS Advances grew by 20.74% to Rs. 31685 crore.
- Agricultural advances grew by 16.67% to Rs.11029.41 crore as at Dec'10.
- Issued 70707 Kisan Credit Cards during Nine Months ended 31st Dec,2010 with an amount of Rs. 1418.27 crore.
Micro Small & Medium Enterprises
-- Credit to MSME Sector grew by 56% to more than Rs. 15437 crore as at end of Dec' 10.
-- Number of SME Accounts increased to 166468 from 148380 and Bank's Fund Based exposure under SME to Rs. 13564 crore from Rs. 8304 crore thereby registering a growth of Rs. 5260 crore and an increase of 63.34% (YoY).
-- 7019 SME & MSME accounts with an amount of Rs. 1726.60 crore opened during Q3 of FY'11.
-- 20205 SME & MSME accounts with an amount of Rs. 2694.75 crore opened during Nine Months ended Dec'10.
-- 17 SME Specialised Branches and 45 MSME focused Branches as on 31st Dec,2010.
Financial Inclusion
-- 118193 NO FRILLS Accounts opened during Q3 of FY'11 and 383500 Accounts opened during Nine Months ended 31st Dec,2010 taking the number of total NO FRILLS Accounts to 13,96,421 as on 31st Dec,2010.
-- 570 villages have been allotted to the Bank with population of more than 2000. Out of these 300 villages are to be covered by 31.03.2011.
-- 27 villages have been adopted till 31st Dec, 2010 and work on the adoption of the remaining 273 villages during Q4 of this financial year is underway.
-- Bank has empanelled M/S FINO as technology provider and M/S FINO FINTECH FOUNDATION for extending IT enabled Banking services.
-- 27 CSPs/BCs have been engaged in 27 allotted villages up to Dec'10.
Empowerment Initiatives
-- Bank has launched Oriental Grameen Swarojgar Card (a micro credit product) for empowerment of rural entrepreneuRs. and to further speed up financial inclusion by way of providing finance to micro activities like cobbleRs., blacksmiths, vegetable vendoRs., tailoRs., kirana shop, carpenteRs., rickshaw pulleRs., tea vendoRs., barbeRs., fruit selleRs., etc. to eligible residents in the villages allotted to the Bank.
-- Bank has also launched a Micro Thrift Scheme called ORIENTAL GRAMEEN JAMA YOJANA - a cumulative deposit scheme for the financially excluded people in rural areas.
New Initiatives
-- Bank has commenced the sale of Gold Coins through its identified Branches across India. These coins are in 24 Carat Gold - 999.9 fineness in 5 gm, 8 gm and 10 gm in an attractive tamper proof packing with certification as per International Standards.
-- On 19th Nov, 2010, Oriental Bank of Commerce became the 1st Public Sector Nationalised Bank to commence the enrollment process for issuance of Unique Identification Number (Aadhaar) for the customers / staff of the Bank and public at large. This launch of UID enrollment process will accelerate the efforts of the Bank in its Financial Inclusion activities by using State of Art Biometric based micro ATMs and use of UID in Financial Transactions.
-- IT Initiatives
1. Stop Payment of Cheque and Cheque Status Inquiry for our cardholdeRs. through our ATMs.
2. ATM facility for visually impaired peRs.ons.
3. Facility of Online Internet e-commerce transaction through OBC Debit Card along with Verified by VISA as 2nd factor authentication.
-- The Bank is in a process of launching a Co-Branded Credit Card.
Insurance Joint Venture
-- During the third quarter of Financial Year 2010-11, the Bank marketed 13589 policies with fiRs.t premium collection of Rs. 53.24 crore and earned a commission of Rs. 6.88 crore from the operations of the Life Insurance Joint Venture of the Bank, viz. Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.
-- During the Nine Months ended Dec'10, the Bank marketed 32044 policies with fiRs.t premium collection aggregating Rs. 121.48 crore as compared to 26817 policies with fiRs.t premium collection of Rs. 85.05 crore during the corresponding period of last financial year.
HR Initiatives
-- During the quarter, Bank recruited 296 peRs.onnel including 26 Specialist OfficeRs..
-- 1541 peRs.onnel including 226 Specialist OfficeRs. have been recruited during the Nine Months ended Dec'10.
-- Recruitment process for 541 Specialist OfficeRs. is underway.
-- Written test for recruitment of 322 Probationary OfficeRs. and 1105 Clerks conducted recently.
Awards & Accolades
-- The Bank is accorded ISO 27001 Certificate for its Primary Data Centre, DR Site, Near Line Site & related processes at Department of Information Technology. It signifies adoption of international level security practices by our Bank, through which security becomes an integral part of the Business Process. It also conveys adoption of globally recognized standards.
-- The Bank has been awarded the "Amity Corporate Excellence Award" for the year 2010 by Amity International Business School, India.
-- Dun & Bradstreet has ranked the Bank among India's top PSUs companies 2009".
-- OBC figures in "FORBES Global -2000"- Rank upgraded from 2000th in 2004 to 1952nd place in 2008 to 1670th place in 2010.
-- National Institute of Banking Management (NIBM), Pune had adjudged OBC as "Customer Friendly Bank".
-- The Banker (London UK, July 2008) has ranked the Bank at 348th position among the top 1000 Banks in the world and 7th in the country wise ranking.
CONTACT DETAILS
Andalib Subzwari, Basic 4 Advertising Pvt. Ltd., +91 11 41734935, basicfour@gmail.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, Financial Analyst, STOCK EXCHANGES
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