Mumbai, 12th February 2025: In a city where the air itself has become a punchline, DeadAnt Live is flipping the script with Laughs Per Minute: Breathless Edition—a night of rapid-fire comedy that puts Mumbai’s air quality crisis center stage.

On 28th February, Bal Gandharva Rang Mandir will play host to some of the sharpest comedic minds in the country as they attempt to do the impossible—make air pollution a laughing matter while ensuring it’s taken seriously. This special edition of DeadAnt’s proprietary format, presented in collaboration with social and environmental impact advisor Asar, will feature a stellar lineup of over 20 comedians, including Aditya Kulshrestha (Kullu), Aditi Mittal, Raunaq Rajani, Aadar Malik, Supriya Joshi, Vineet Srinivasan.

At its core, Laughs Per Minute is a high-stakes challenging format where comedians get 60 seconds each on stage to land a punchline—an exhilarating pace that mirrors the urgency of Mumbai’s, and indeed India’s, declining air quality. But beyond the rapid wit and relentless laughs, this edition serves a more pressing purpose: to translate AQI charts and government reports into a conversation that people can actually engage with. Because while smog-choked skylines and unseasonal coughs have become part of daily life, the issue remains buried under apathy, and jargon-laden policy discussions.

Ravina Rawal, Founder-CEO of DeadAnt remarked, “For DeadAnt, this isn’t just another show—it’s part of a broader mission to use the arts as a force for impact. We are delighted to partner with Asar for the return of Laughs Per Minute: Breathless Edition; on raising awareness on the rising air pollution in the country, and stripping away the abstraction around air pollution, driving home the reality of what’s at stake—without the doomscroll. At DeadAnt, we believe comedy can be more than just entertainment—it can spark conversations, shift perspectives, and even catalyse change–this edition is designed to make people sit up, take notice and, hopefully, take action.”

The collaboration with Asar ensures that while the jokes land, so does the message. Laughs Per Minute: Breathless Edition aims to do what few environmental campaigns have managed: make people care.

Brikesh Singh, Chief of Communications, Asar, said, “DeadAnt’s recognition of the urgent need to spotlight air pollution and the broader climate crisis led to this partnership. Through comedy, we aim to make climate conversations more accessible and engaging, driving attention towards actionable solutions to combat deteriorating air quality of Mumbai and mainstreaming climate communication for greater impact.”

He adds that DeadAnt Laughs Per Minute: Breathless Edition is designed to shake up the conversation on Mumbai’s air pollution—by ditching the jargon-heavy debates for sharp-witted comedy that resonates with everyone. “By using humour as a universal language, the initiative aims to engage a wider audience, spark public action, and make this issue impossible to ignore,” said Singh.

New Delhi, 12th February, 2025—Kalyani Strategic Systems Limited (KSSL), a wholly owned subsidiary of Bharat Forge Limited (NYSE: BFL) and L3Harris Technologies (NYSE: LHX) signed a Memorandum of Understanding (MOU) for wider collaboration in supporting advanced defense and security equipment in India.

Under the two-year agreement, both companies will work in close collaboration to provide solutions for mutually agreed opportunities in Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C4ISR) technologies. The MOU provides L3Harris with a strong, local partner to support tactical communications network development in India, extending an existing global install footprint of more than 1 million fielded radios across U.S. Department of Defense and allied inventories.

“This MOU sets the stage for future partnerships and opportunities in India, where the combined strengths of L3Harris and KSSL can contribute to bolster national security for the country,” said Dave Johnson, Vice President, International, L3Harris. “We are excited to move forward and increase our delivery speed in advanced tactical radios and equipment to the Indian Armed Forces.”

The U.S.-India Defense Industrial Cooperation encourages both parties’ support of advanced defense technologies, capabilities and equipment. The MOU is designed to foster collaboration in defence technologies, with a framework for innovation that benefits both L3Harris and KSSL.

“This collaboration unlocks new strategic capabilities and will lead to harnessing new opportunities for quick delivery of sophisticated defense products to the Indian Armed Forces,” said Neelesh Tungar, President & CEO, KSSL. “Aligned with the evolving doctrines and emerging warfare paradigms, this collaboration between KSSL and L3Harris is aimed at serving future strategic requirements, including joint and integrated ISR capabilities.”

While focusing on the Indian market, the collaboration also seeks to establish robust and resilient supply chains outside India for global obligations.

L3Harris has operated in India for more than 21 years, with facilities in New Delhi and Bengaluru. In addition to providing the Indian Armed Forces with sophisticated tactical radios and manned airborne electro-optic/infrared systems, the company provides Futuristic Telecommunications Infrastructure for all Indian airports in partnership with the Airport Authority of India.

Bengaluru, February 12, 2025: Kempegowda International Airport Bengaluru (KIAB/BLR Airport) announces the installation of an innovative Aerial View Display (AVD) System that is set to enhance the overall efficiency of airport operations and emergency responses on the airside. This system offers real-time, consolidated monitoring of all airside operations from the Airport Operations Control Centre (AOCC), from flight movements to the coordination of emergency and ground vehicles, all on a single, centralised dashboard.

The AVD System is designed to significantly enhance operational efficiency and safety by providing airport operators and stakeholders with a unified view of critical airside activities, including flight landings, take-offs, taxiing, and vehicle movements. By identifying flights through their flight numbers rather than traditional ATC call signs, the system simplifies tracking and management, empowering BLR Airport to streamline operations and make more collaborative and informed, real-time decisions with unparalleled situational awareness.

Features of the AVD System include:

• Real-Time Unified Dashboard: A single platform providing real-time visibility into airside operations, including flight landings, take-offs, taxiing, and vehicle movements
• Advanced Flight Tracking: Accurate monitoring of taxiing, aircraft speed, and runway occupancy time (ROT) to boost airside efficiency
• Ground Vehicle Monitoring: Real-time tracking of ground vehicles for seamless coordination and enhanced safety
• Collaborative Decision-Making (CDM): Tracks CDM milestones to improve stakeholder collaboration and optimize operational planning
• Emergency Alerts: Enabling better coordination during emergencies ensuring swift responses to minimize risks and disruptions
• Optimised Taxi Times: In-depth analysis to reduce delays and ensure smooth operational flow which results in better On-time Performance (OTP) and energy savings.

Commenting on this milestone, Satyaki Raghunath, Chief Operating Officer of Bangalore International Airport Limited (BIAL) said, “BLR Airport has been at the forefront of adopting technology to ensure the highest standards of safety, efficiency, and operational excellence. The Aerial View Display (AVD) System will enables real-time, automated monitoring and seamless coordination across the entire airside. This innovation will not only streamline operations but also empower stakeholders of BLR Airport to make faster, data-driven decisions that will improve capacity and efficiency across our airside operations, which in turn will lead to a reduction in emissions and enhanced sustainability standards.”

The Aerial View Display (AVD) System reinforces BLR Airport’s commitment to innovation, operational excellence and sustainability. By harnessing real-time data and offering a unified view of airside operations, the system creates a smarter, more efficient airport ecosystem, enhancing stakeholder collaboration and delivering seamless travel experiences for passengers.

As a key aviation hub, BLR Airport aims to set new benchmarks in operational efficiency by adopting the latest innovation and technology. The AVD system underscores the Airport’s dedication to leveraging advanced solutions to drive sustainable growth, ensure safety, and maintain its leadership in modern airport management.

Bengaluru, India – Feb 12, 2025: Samsung, India’s largest consumer electronics brand, is set to revolutionize the 5G segment with the upcoming launch of its Galaxy F06 5G smartphone. This device will provide a complete 5G experience at an affordable price, making 5G technology accessible for more users and accelerating its widespread adoption across the country.

Galaxy F06 5G is built to deliver unmatched connectivity, supporting 12 5G bands across all telecom operators. Galaxy F06 5G is also enabled to provide a smoother live streaming & video calling experience and better download speeds thanks to enhanced connectivity.

Galaxy F06 5G is poised to feature an 8 mm sleek design with ‘Ripple Glow’ finish that shimmers with every movement. It also features a large 6.7-inch HD+ display, offering an immersive visual experience for streaming and content consumption. Moreover, the all-new Camera Deco with a 50MP Dual cam strikes a chord with Gen Z and Millennial consumers.

Powered by the MediaTek D6300 processor, Galaxy F06 5G will also boast a powerful Antutu score of up to 416K, ensuring smooth performance for multitasking and gaming. With the promise of 4 generations of Android upgrades and 4 years of security updates, users can enjoy the latest features and security enhancements for a long time.

Furthermore, in its endeavour of bringing innovation across the value chain, Samsung is bringing its much loved feature – Voice Focus with Galaxy F06 5G. This device will also come with Quick share and Knox Vault.

Galaxy F06 5G will be available in two bold and mesmerizing colours: Bahama Blue and Lit Violet.

Uttar Pradesh has emerged as the strong economic powerhouse of India’s economy with robust growth of GDP, Ease of Doing Business, attractive destination for investments and State of the art infrastructure, says the industry body, PHDCCI in a press statement issued today.

The research report prepared by PHDCCI on Uttar Pradesh – Marching towards USD 1 trillion economy indicates that state is poised to become USD 1 trillion economy.

Dr Ranjeet Mehta, Secretary General and CEO of PHDCCI while meeting Shri. Abhishek Prakash, IAS, CEO Invest UP and Secretary, Department of Infrastructure and Industry, said that drivers of the economy growth of Uttar Pradesh have become robust as economic and business environment in the state improves each day.

With the diverse industrial base, rich cultural heritage, and a growing consumer market, Uttar Pradesh’s Gross State Domestic Product (GSDP) has seen impressive growth, rising from ₹16.44 lakh crore in 2020-21 to over ₹25.47 lakh crore in 2023-24, said Dr Ranjeet Mehta.

The economy of the state between 2017-18 and 2019-20 (current prices) expanded at an average rate of 9.6%, and despite setbacks from the COVID-19 pandemic, Uttar Pradesh rebounded strongly, recording growth of 15.7% (average) from 2021-22 to 2023-24, said Dr Mehta.

PHDCCI projects that Uttar Pradesh is on a strong path towards USD 1 trillion economy, positioning it as a key economic hub for both domestic and international investors with its increased significant role in India’s journey towards Viksit Bharat by 2047, said Dr Mehta.

The state’s economy is driven by three key sectors: services, agriculture, and industry. The services sector, which includes tourism, real estate, finance, and hospitality, contributes 46.5% to the GSDP. Agriculture remains crucial, with two-thirds of the workforce engaged in farming, contributing 27% to the economy, he said.

The state government has introduced agricultural reforms, including improved irrigation, advanced crop varieties, and farmer training, which have boosted productivity and increased farmer incomes, he said.

Industry, contributing 26.5% to the GSDP, has become a strong accelerator for economic growth. Uttar Pradesh has emerged as a major manufacturing hub, particularly in sectors such as electronics, textiles, handicrafts and handlooms, automobiles, leather, food processing, pharmaceuticals, chemicals and among others, said Dr Mehta.

The state’s strategic location, coupled with significant investments in infrastructure, has enhanced its attractiveness as an industrial center. Moreover, Uttar Pradesh has made strides in improving its Ease of Doing Business (EoDB) ranking, simplifying regulations, and establishing a single-window clearance system, he said.

These reforms, along with enhanced digitalization and infrastructure development, have created a conducive environment for business, said Dr Mehta.

The state is significantly improving in the logistics infrastructure with the seamless connectivity in rail, road and waterways, he said.

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in Uttar Pradesh’s economic landscape, with nearly 90 lakh units contributing significantly to manufacturing output and employment generation.

The state government’s support for MSMEs with access to finance and research and innovation have boosted the competitiveness of the MSMEs, said Dr Mehta.

Uttar Pradesh has seen increased Foreign Direct Investment (FDI), with cumulative inflows reaching USD 1.68 billion between October 2019 and June 2024. The state ranks 10th in India for FDI, driven by investments in IT, textiles, electric vehicles, and logistics, he said.

The state’s export sector, particularly in handicrafts, which make up 60% of total exports, has been another strong growth driver, connecting the state with the global supply chains, he said.

The state has immense potential to enhance the volumes of exports in meat and edible meat offal, sugars and sugar confectionery, plastic and articles thereof, articles of leather, saddlery and harness; travel goods, handbags and articles of animal gut (other than silk-worm), footwear, gaiters and the like; parts of such articles, articles of iron or steel, machinery and mechanical appliances ,electrical machinery and equipment and parts thereof; sound recorders and reproducers, television, aircraft, spacecraft, and parts thereof, furniture bedding mattresses.

These products have been identified in the PHDCCI report on States’ Policy Conclave 2022 – Make in India, Make for the World: Mapping 75 potential exports products in States.

With its diverse economic base, expanding infrastructure, and focus on sustainability, Uttar Pradesh is set to become a key player in India’s journey toward becoming a developed nation by 2047, he said.

Going ahead, Uttar Pradesh needs continued investments in infrastructure, industry, and technology. Enhanced Public-Private Partnerships (PPPs) will help private sector to expand more for infrastructure development, said Dr Mehta.

Furthermore, the state’s focus on skill development, employment generation, and industrialization has resulted in a notable increase in per capita income, which reached ₹93,514 in 2023-24, reflecting a 14% growth from the previous year, said Dr Mehta.

Looking ahead, Uttar Pradesh’s dynamic economy, supported by strategic investments, industrial growth, and agricultural reforms, is well-positioned to contribute significantly to India’s development, said Dr Mehta.

The state has significant potential to attract investments in high-growth sectors like energy, agriculture, infrastructure, tourism, information technology (IT), electronics manufacturing, and textiles, he said.

The state is attracting both domestic and foreign investments with simplified regulations, reduced time to start a business and improved transparency, he said.

11th February 2025, New Delhi

Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404) has announced its unaudited financial results for the third quarter and nine months ended 31st December 2024. The financial numbers are based on IndAS.

Consolidated Highlights

Particulars (Rs. crore)	9M FY25	9M FY24	% Change	Q3 FY25	Q3 FY24	% Change
Assets under Management (AUM)	12,128	11,074	10%	12,128	11,074	10%
Disbursement	7,568	7,445	2%	2,835	2,921	-3%
Total Revenue	1,979	1,594	24%	688	596	15%
Net Interest Income (NII)	1,194	945	26%	420	349	20%
Pre-provision Operating Profit (PPoP)	625	494	26%	214	189	14%
Profit After Tax (PAT)	164	308	-47%	14	113	-87%

Footprints and Outreach

Particulars	9M FY25	9M FY24
States & UTs	29	24
Branches	1,535	1,386
No. of Employees	16,970	13,046
No. of Loan Officers	11,922	9,128
No. of Clients (Lacs)	33.9	34.2

Standalone Highlights

Particulars (Rs. crore)	9M FY25	9M FY24	% Change	Q3 FY25	Q3 FY24	% Change
Assets under Management (AUM)	10,778	9,811	10%	10,778	9,811	10%
Disbursement	6,955	6,881	1%	2,683	2,698	-1%
Total Revenue	1,815	1,457	25%	632	548	15%
Pre-provision Operating Profit (PPoP)	610	472	29%	212	179	18%
Profit After Tax (PAT)	176	298	-41%	31	108	-71%

Update on Q3 and 9M FY25

• Consistency in disbursement on a QoQ basis, leading to growth in AUM of 3% QoQ & 10% YoY
• PAT for Q3 FY25 stood at Rs. 31 crore; reported 14 consecutive profitable quarters despite sector headwinds
• PAR reversal visible from Nov’24 onwards

• 1. Net fresh PAR flow is seeing a reversal; significantly reduced from 1.61% in Oct’24 to 0.45% in Jan’25

• 1. PAR 1 for Satin vs Industry stood at 6.4% vs 13.9%; Satin’s performance better than the industry

• 1. PAR 1 in top 5 states for Satin vs Industry at 5.6% vs 15.3%; strong client connect is helping us in key states

• Collection Efficiency of X bucket stood at 99.8% during Q3 FY25
• Credit cost for 9M FY25 stood at 5.0% (annualized); within the guided range
• Raised Rs. 6,216 crore during 9M FY25 at group level; maintaining healthy liquidity
• Stable and competent management team; more than 9+ years of vintage of core team in the company

Capital Adequacy and Liquidity

• Our capital base is strong with a capital adequacy ratio of 27.4% as on 31^st December’24
• Book Value per share at Rs. 232 on a consolidated basis
• The Company continues to maintain a healthy balance sheet liquidity of Rs. 1,581 crore as on 31^st December’24 and has undrawn sanctions worth Rs. 1,435 crore as on date

Borrowing Profile

• Total on-book borrowings stood at Rs. 7,829 crore as on 31st December’24
• Debt-to-equity ratio as on 31st December’24 stood at 2.8x
• 62% of our borrowings are from banks, followed by overseas funds at 20%, NBFCs at 11% and DFIs at 7%
• The Company has a diversified and large lender base of 75 active lenders

Asset Quality

• On-book Gross Non-Performing Assets stood at 3.9% amounting to Rs. 324 crore

• 1. ~69% of portfolio across states has GNPA less than the national average of 3.9%

• We have sufficient on-book provisions amounting to Rs. 322 crore as on 31^st December’24, which is 3.9% of on-book portfolio. Provisions required as per RBI is Rs. 136 crore

• 1. Management Overlay on provisions of Rs. 16 crore; creating buffer for coming quarters

• During 9M FY25, collection against write-offs were Rs. 27 crore
• Collection efficiency for 9M FY25 stood at 96%

Subsidiaries  

Satin Housing Finance Ltd., witnessed YoY growth of 44% in AUM, which stood at Rs. 872 crore, having presence across 19 states with 8,464 customers

• 100% retail book
• GNPA stood at 1.7%
• 31 active lenders including NHB refinance
• CRAR of 59.6% and gearing of 1.9x
• PAT for 9M FY25 stood at Rs. 2 crore
• Credit Rating of A- (Stable) from ICRA & Infomerics

Satin Finserv Ltd., our MSME arm, has an AUM of Rs. 479 crore

• Focus on growing MSME on-book portfolio; grew by 50% YoY
• Consciously bringing down JLG BC book
• PAR 90 of ~ 4.94% for sub Rs. 3.5 Lacs ticket size loans, comprising ~98% of total MSME portfolio

• 1. The GNPA is elevated as we cater to the microfinance graduated clients and currently, the microfinance sector is facing headwinds

• CRAR of 40.2% and gearing of 1.8x
• PAT for 9M FY25 stood at Rs. 5.2 crore
• Credit Rating A- (Stable) from ICRA

Commenting on the performance, Dr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, said, “Resilience and adaptability have always been at the core of our journey. Over the years, we have built a business that is not only strong but also agile and responsive to changing market dynamics. Our focus has always been on ensuring financial discipline, operational efficiency and a deep commitment to inclusion at large.

Our performance in Q3 & 9M FY25 reflects this approach as we achieved AUM growth of 10% YoY to Rs. 10,778 crore, against our guided range of 8% to 10%, while maintaining a disciplined credit cost of 5.0%, which continues to be one of the best in the industry. Additionally, this quarter, we registered a profit of Rs. 31 crore, further reinforcing our track record of 14 consecutive profitable quarters. The third quarter also demonstrated improvements, with a steady reversal in delinquency trends starting from November 2024 and further strengthening in December 2024 and January 2025. This momentum has contributed to both AUM growth and enhanced portfolio quality. Our PAR 1 stood at 6.4%, outperforming industry benchmarks, while PAR 1 in our top five states also remained strong, supported by our deep client connections in key regions. Moreover, collection efficiency in the X bucket stood at an impressive 99.8%, reflecting our success in arresting fresh flows through a focused recovery strategy.

As we look ahead, we are confident that the momentum will only improve as our recovery strategies gain traction. With a strong focus on operational excellence and capitalizing on emerging opportunities, with certain measures being undertaken, we are poised to deliver on a long-term sustainable basis, even better numbers, setting the stage for growth and long-term success.”

Chennai, (11 February 2025): Blackstraw AI, an enterprise-grade AI Solutions Provider, presents the Namma Singara Chennai Challenge, a platform to bring innovative minds together to solve some of Chennai’s biggest urban challenges. Focused on safety, community engagement, and sustainability, the challenge offers a platform for individuals, startups, and organizations to submit bold, practical ideas that can make a lasting impact. Submissions are open until March 15, 2025, with exciting prizes in funding from a total prize pool of ₹50 lakhs for the top three winners, to bring their visions to life.

The challenge will unfold in three stages:

1. Share Your Vision: Submit your application and a short video detailing your solution by March 15, 2025.

2. Impress the Panel: Shortlisted candidates will participate in virtual interviews. The top 10 finalists will be announced by March 31, 2025.

3. Celebrate Your Success: Finalists will present their ideas to Chennai‘s leading changemakers on April 12, 2025, for a chance to win the grant.

This challenge is an open invitation to forward-thinkers and changemakers who are passionate about shaping a better future for Chennai. Blackstraw AI’s initiative seeks to ignite innovation and demonstrate the transformative power of AI in addressing real-world urban challenges. Open to students, researchers, tech enthusiasts, and businesses, the challenge welcomes anyone with a vision for a safer, greener, and more connected Chennai. It’s about turning bold ideas into practical, sustainable solutions that can drive meaningful change for the city and its people in the long run.

“We are thrilled to launch the Namma Singara Chennai Challenge, an initiative that aligns with our vision of empowering communities through AI,” said Atul Arya, Founder and CEO at Blackstraw.AI. “Our goal is to inspire innovative minds to come together and propose solutions that will help create a better future for Chennai. By supporting local talent, we hope to drive impactful change in the city’s urban landscape.”

As Blackstraw continues to champion AI-driven solutions for a variety of sectors, the Namma Singara Chennai Challenge represents an important step forward in fostering community-centered innovation. This challenge is designed to inspire further collaboration, helping to address urban challenges while promoting AI education and skill development.

Hyderabad, 10 February 2025: AlphaGrep announced a strategic academic collaboration with IIIT Hyderabad’s Precog group of researchers who study, analyse, and build various aspects of AI (including social) systems.

Spanning several areas, including Applied Machine Learning, Responsible and Safe AI, Natural Language Processing, and Social Network Analysis, Precog develops solutions that contribute to society’s greater good.

As part of this collaboration, AlphaGrep has committed ₹3.5 crores to support groundbreaking research, skill-building, and real-world applications of AI/ML in quantitative finance. The initiative, spearheaded by Prof. Ponnurangam KumaraguruPK, Mr. Mohit Mutreja, and Mr. Hemang Mandalia, will facilitate faculty and student-driven research, foster technical advancements, and strengthen the bridge between academia and industry.

“We are excited to expand our academic partnerships and work with IIIT Hyderabad’s Precog to push the boundaries of machine learning research in quantitative finance,” said Mohit Mutreja, Managing Director, AlphaGrep.

“By providing students with access to adequate resources, mentorship, and real-world problem-solving opportunities, we aim to drive impactful innovation in AI and quantitative research.” This initiative marks AlphaGrep’s second major academic partnership, reinforcing its commitment to advancing Artificial Intelligence (AI) and Machine Learning (ML) research.

Commenting on the collaboration, Prof P J Narayanan, Director, IIITH said, “Quantitative finance is a highly data-intensive area. Given its strengths in AI and data analytics, IIIT Hyderabad can achieve much by partnering with a top company in that space like AlphaGrep. I am looking forward to the activities emanating from the collaboration.”

New Delhi, February 2025— Ladurée India is delighted to announce the launch of its exclusive Valentine’s Day collection, bringing the timeless charm of Parisian romance to India. This limited-edition collection celebrates love with elegance and indulgence, offering exquisite creations that are perfect for gifting or sharing with loved ones.

Amour Toujours – Love Always

Romance knows no bounds, and every moment is an opportunity to express affection. Ladurée honors the sweetness of feelings with creations crafted to be given or enjoyed together:

Heart-Shaped Box of 15 Macarons: A grand gesture of love, this selection is perfect for expressing heartfelt emotions.

Quilted Box of 8 Macarons: Adorned with delicate golden hearts, this box is reminiscent of Parisian elegance.

These exclusive offerings are available for a limited time across all Ladurée boutiques in India, including our locations in Delhi, Gurgaon, Mumbai, Pune, and Kolkata.

“We are thrilled to bring Ladurée’s Valentine’s Day collection to India,” said Chandni Nath Israni, Managing Director and Co-Founder of CK Israni Group. “Our collection is a tribute to love, indulgence, and the art of gifting, encapsulating the essence of Parisian romance.”

Gurugram, Haryana (India), 10th February 2025 – Dreamfolks Services Limited (herein referred to as “DreamFolks”), India’s largest travel and lifestyle service aggregator, today announced the financial results for the third quarter and nine months ended 31st December 2024.

Ms. Liberatha Kallat, Chairperson and Managing Director, commented on the performance: “During the first nine months of FY25, the two main revenue drivers i.e. Air Traffic and Credit card growth, grew by 6.7% and 13.7% respectively. Dreamfolks revenue grew by 14.5%, beating industry growth, on account of addition of new clients. Our strategic focus of expanding our services beyond travel to lifestyle services will provide tailwinds to our topline growth in the coming years.

This quarter, we have added a significant number of enterprise clients, with organisations like MakeMyTrip, TBO, and 11 others joining our client base. Furthermore, we have also welcomed new banking clients, some of whom transitioned to us from competitors, demonstrating our excellent service quality and offerings.

The revenue contribution of “Services other than India Airport Lounge” increased to 6.9% in 9MFY25, as compared to 5.2% in 9MFY24. This growth of the other services is a testament to our strategic focus on expanding our service portfolio, to become a complete travel and lifestyle services aggregator.

During this period, bank clients continued to increase their minimum spending threshold on cards thereby maximising their return by spending money on right set of users, leading to a slight change in our volume mix and hence our Gross Margins. However, Gross Margin remain within the guidance of 11-13% for FY25. We are witnessing structural change by our bank clients as part of the Spend based program implementation, so as to offer the benefits to the right set of users.

The company’s strategic focus on diversification has led to notable expansion in services, client base, and geographic reach. In the realm of services, we introduced new services – Baggage Wrapping and Coffee at Malls during the quarter. Additionally, our domestic lounge presence has grown with the addition of 2 new airport lounges at Ayodhya Airport and Goa Dabolim Airport, bringing the total to 76 airport lounges.

Our global presence has increased notably, with the addition of 16 global lounges to our network. This was complemented by 18 new airport F&B outlets in the Middle East and our M&A service extending to more than 380 airport terminals worldwide.

Our strategic endeavours in diversifying services, expanding our clientele, and extending our global reach are stepping stones to a future where our brand is synonymous with excellence, innovation, and customer satisfaction. We are building a business that sets new benchmarks in the industry and focuses on sustained growth of the company.”

Key Financial Highlights of the Quarter (Consolidated): 

Particulars (Rs Million)	9MFY25	9MFY24	Growth (YoY)	Q3FY25	Q3FY24	FY24
Revenue from Operations	9,777	8,539	14.5 %	3,401	3,051	11,350
Gross Profit	1,150	1,017	13.1 %	383	383	1,368
Adjusted EBITDA*	771	761	1.4 %	258	297	1,033
Profit After Tax	501	507	(1.2) %	169	200	686