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

February 10, 2025, Hyderabad – Zaggle Prepaid Ocean Services Limited, a SaaS fintech player which provides spend management products and solutions, has announced its unaudited Financial Results for the quarter & nine months ended December 31, 2024.

(₹ Million, unless stated otherwise) (standalone)	Q3FY25	Q3FY24	YoY	Q2FY25	QoQ	9MFY25	9MFY24	YoY
Revenue from operations	3,364.4	1,995.1	68.6%	3,025.6	11.2%	8,912.0	5,022.3	77.4%
Adjusted EBITDA	314.6	228.6	37.6%	295.2	6.5%	865.6	584.0	48.2%
Adjusted EBITDA Margin	9.4%	11.5%		9.8%		9.7%	11.6%
ESOP Cost	20.1	24.7		28.2		79.8	150.3
Reported EBITDA	294.4	203.8	44.4%	267.1	10.3%	785.8	433.7	81.2%
Reported EBITDA Margin	8.8%	10.2%		8.8%		8.8%	8.6%
Profit After Tax	202.4	152.2	32.9%	185.6	9.0%	555.2	248.6	123.3%
PAT Margin	6.0%	7.6%		6.1%		6.2%	5.0%
Cash PAT	262.1	195.0	34.4%	238.2	10.0%	720.2	461.1	56.2%

Q3 & 9MFY25: 

• The YoY growth in the topline is attributed to:
  • A notable 54% rise in program fees resulting from an expanded portfolio of prepaid and credit cards along with rise in clients spending
  • Strong 86% growth in the propel revenue platform, fueled by increased redemptions on account of festive season
• The rise in employee costs is primarily due to an expanded workforce aimed at supporting business growth
• The increase in incentives, cash-back expenses, and operational expenditures aligns with the overall expansion of the business
• The total ESOP expenses in FY25 are expected to be INR 95 Mn to 100 Mn

Commenting on the performance Raj P Narayanam, Founder and Executive Chairman, Zaggle Prepaid Ocean Services Limited said,

“This has been a milestone quarter for us with our highest ever quarterly & nine monthly performance, in terms of Revenue, Adjusted EBITDA and PAT.

During Q3FY25, the company delivered a topline of INR 3,364 Mn, growing by 69% YoY basis, adjusted EBITDA of INR 315 Mn, increasing by 38% compared to Q3FY24. The Adjusted EBITDA margins stood at 9.4%. The PAT increased by 33% YoY to INR 202 Mn.

We successfully completed of our QIP of Rs. 5,950 Mn in line with our growth strategy of inorganic expansion.

With respect to strategic collaborations, we signed a 3-year partnership with the largest private bank in India, HDFC Bank, to provide the credit card solution. Additionally, we stitched a long-term referral partnership program with Mastercard, which will extend our reach in the market.

Banking on our comprehensive product portfolio, we expanded our customer base to 3,300+ and signed contracts with several major brands including Blinkit, CanFin homes, BigBasket, Mumbai Metro One, Mahindra First Choice Wheels, and Hitachi India.

For FY25, we are confident of achieving a 58-63% growth in our top line. We are also evaluating inorganic growth opportunities to expedite this growth and the discussions are at advanced stages.”

Mumbai, February 07, 2025: The highly anticipated NAREDCO NextGen Conclave 2025 is set to bring together the brightest minds in real estate to analyze the Union Budget 2025 and explore the industry’s future trajectory. As a premier gathering for next-generation leaders, the conclave will unveil key investment trends, innovative strategies, and policy insights that will define India’s real estate landscape for the next decade.

Scheduled to take place in Mumbai, the event will serve as a dynamic platform for emerging entrepreneurs, leading developers, policy influencers, and investors to engage in impactful discussions, networking, and knowledge-sharing sessions. The agenda will cover the implications of Budget 2025 on real estate, sustainable urban development, financing models, and the role of technology in smart cities.

At a time when next-gen realtors are transforming the industry through technology-driven solutions, sustainable business models, and innovative investment approaches, the conclave will offer valuable insights into opportunities in Tier II & III cities, green real estate, smart infrastructure, and alternative financing methods such as REITs, InvITs, and PropTech-powered funding solutions.

The conclave will also feature an in-depth brainstorming session, “Decoding Union Budget 2025”, where industry experts will examine policy reforms, taxation updates, and government incentives impacting the real estate sector. Given its crucial role in India’s economic framework, discussions will focus on how budgetary provisions influence housing demand, infrastructure growth, and investment trends in the years ahead.

According to Jay Morzaria, Chairman, NAREDCO NextGen said, “India’s real estate sector is evolving rapidly, driven by policy reforms, technological innovation, and changing market dynamics. The NAREDCO NextGen Conclave 2025 will serve as a catalyst for the next generation of real estate leaders, equipping them with the knowledge, networks, and strategies to navigate this transformation. By fostering collaboration between young entrepreneurs, industry experts, and policymakers, we aim to drive sustainable growth and innovation in the sector”

Ravi Reddy, President, NAREDCO NextGen said, “Today’s young real estate professionals are more tech-savvy, investment-driven, and sustainability-focused than ever before. This conclave will equip them with the insights, industry networks, and strategic vision necessary to scale their businesses in an evolving market.”

Dr. Niranjan Hiranandani, Chairman, NAREDCO Said, “The next generation of real estate leaders is driving a paradigm shift through technological integration, smart infrastructure, and sustainable urban planning. The NAREDCO NextGen Conclave 2025 will play a pivotal role in equipping young entrepreneurs with the tools, insights, and networks needed to embrace digital transformation, explore AI-driven solutions, and pioneer new-age investment models that will define the future of Indian real estate.”

Highlighting the importance of fostering young leadership, G Hari Babu, President, NAREDCO National, emphasized, “The new generation of realtors is reshaping the industry by integrating innovation with responsible urban growth. The NAREDCO NextGen Conclave 2025 will be instrumental in helping them align with emerging trends, build influential networks, and future-proof their businesses.”

Rajan Bandelkar, Vice Chairman, NAREDCO said, Technology adoption and innovation are no longer optional but essential for the next wave of real estate development in India. From PropTech to AI-powered analytics and blockchain-driven transactions, the industry is evolving at an unprecedented pace. The NAREDCO NextGen Conclave 2025 will empower young real estate professionals to leverage these advancements, create more efficient business models, and drive sustainable growth in the sector.”

With rapid urbanization, shifting consumer preferences, and increasing digitization, the conclave is poised to be a landmark event, providing young entrepreneurs with the knowledge, tools, and partnerships needed to drive the next phase of growth in Indian real estate.

Mumbai, 7th February 2025: Allcargo Gati Limited (formerly Gati Limited) one of India’s leading premier Express Distribution and Supply Chain Management company, has reported its un-audited financial results for the quarter ended 31st December 2024.

Financial Highlights for Express Business

• Gross Margin: Gross margin has increased on a YoY basis, for Q3FY25 gross margin stood at Rs 98 crores up 22% as compared to same period last year
• EBITDA: Continues to show improvement on the back of cost initiatives, for Q3FY25 EBITDA was up 215% as compared to same period last year

Particulars (in ₹ Crs)	Q3FY25	Q3FY24	Y-o-Y	Q2FY25	Q-o-Q
Revenue	392	371	6%	374	5%
EBITDA	22	7	215%	19	15%

Commenting on the results Mr. Ketan Kulkarni, Managing Director and Chief Executive Officer of Gati Express and Supply Chain Pvt. Limited. (GESCPL) said “We are pleased to announce our Q3 results, which reflect a significant improvement over the same period last year and the previous quarter. Our EBITDA margin has grown remarkably to 5.5% from 1.9% in Q3 of the previous year, driven by our focused sales growth initiatives and operational efficiencies. We have optimized our operations and built a strong foundation to drive future growth and meet evolving market demands. A key milestone in this journey has been the modernization of our business functions significantly enhancing service capabilities. As a trusted logistics partner, we continue to empower MSMEs by leveraging our extensive transportation network, ensuring reliability and improved transit time through superior traceability and connectivity. With a future-ready approach, we are well-positioned to sustain our growth momentum and deliver greater value to our customers.”

Mumbai, 7th February 2025: Shri Jayant Chaudhary, Hon’ble Minister of State (I/C), Ministry of Skill Development and Entrepreneurship (MSDE) and Minister of State, Ministry of Education inaugurated the NSDC International Academy, a state-of-the-art facility designed to provide world-class skill development and training programmes. The NSDC International Academy is a landmark initiative designed to bridge the gap between Indian youth and global employment opportunities. It will serve as a centre of excellence, offering specialized training programs aligned with the skill demands of countries like Germany, Japan, and Israel. Shri Chaudhary flagged off the departure of 11 candidates headed to Germany and toured the NSDC International Academy, engaging with students enrolled in its programs and also experienced the AI and VR facilities, advanced labs present at the centre, interacted with students about their life journeys, and offered them motivation.

Delivering his address, Shri Jayant Chaudhary, Hon’ble Minister of State (I/C), Ministry of Skill Development and Entrepreneurship (MSDE) and Minister of State, Ministry of Education, Govt. of India mentioned, “We must recognize that young India is breaking barriers, moving beyond traditional career paths, and looking at new opportunities. The NSDC International Academy is a testament to this shift—equipping our youth with the skills, confidence, and global exposure they need to succeed. A great building and infrastructure are important, but the real strength of any institution is its people—the trainers, students, and programs that drive it. With our skilling budget increasing from ₹3,300 crores to ₹6,100 crores, we are strengthening initiatives like this academy, ensuring young Indians get industry-relevant training, language skills, and cultural readiness. A Viksit Bharat by 2047 will be built by individuals ready to take on global challenges, and our job is to make sure they have the right support to get there.”

He added, “Prime Minister Shri Narendra Modi Ji is very passionate about skilling, and takes pride in what our ministry is achieving. Skill India programme and ITI rejuvenation programme, announced in last budget will have a huge impact, in increasing our capacity to skill our young people.”

This centre aims to empower individuals with the skills needed to thrive in today’s competitive global workforce. The academy specializes in internationally recognized language certifications, ensuring that candidates receive globally accepted qualifications. These include OSD and GOETHE certifications for German, JLPT for Japanese, and ISLETS for English, making graduates well-prepared for global opportunities.

Addressing the audience, Shri Ved Mani Tiwari, CEO, Nation Skill Development Corporation said, “In our journey of making India a global skill capital, today is a pivotal moment as our honorable minister Shri Jayant Chaudhary inaugurates this center, fulfilling the dreams of our honorable prime minister Shri Narendra Modi Ji. The World Economic Forum report says that in the next 25 years, 100 crore people would join the global workforce, with every third and fourth person being Indian. The coming years would ensure that India plays a dominant role in the global economy and contributes significantly to the dollar economy.

Our initiatives at this center equip youths with world-class language proficiency and advanced technical skills, preparing them for careers in Germany, Japan, Israel, and the UK. With cutting-edge training in sectors like caregiving and with the support of Industry 4.0, we are readying our talent for global opportunities.”

With a target of training over 1,000 candidates annually, the NSDC International Academy is committed to addressing the demands of both local and international job markets. As part of its mission to enhance employability, the academy will provide placement assistance and establish partnerships with industry leaders to facilitate valuable interview opportunities for its graduates.

The NSDC International Academy in Greater Noida stands as a flagship initiative of the National Skill Development Corporation (NSDC), dedicated to transforming India’s workforce by providing training and certifications recognised globally. This premier skill development institution offers specialised courses in various fields, including foreign languages, healthcare, employability skills, and aviation, ensuring that Indian youth are well-prepared for international career opportunities.

The facility features modern classrooms equipped with interactive technology and advanced labs focused on soft skills and language learning with resources that will enable hands-on training and practical application of the learnings. The academy also includes dedicated counselling rooms to provide career guidance and psychological support, fostering holistic development among students. With residential facilities accommodating up to 500 candidates, the NSDC International Academy offers an immersive learning environment that promotes both academic and personal growth.

With a target of training over 1,000 candidates annually, the NSDC International Academy is committed to addressing the demands of both local and international job markets. As part of its mission to enhance employability, the academy will provide placement assistance and establish partnerships with industry leaders to facilitate valuable interview opportunities for its graduates.