Mumbai, Feb 04: The Hotel And Restaurant Association (Western India) – HRAWI commenced its 75th year on the 3rd of February 2025, celebrating a rich legacy of leadership, advocacy and industry excellence. HRAWI is a part of the national body of FHRAI, which was originally founded in Mumbai in 1950, by the late Mr. J.R.D Tata. Established in 1951 by hospitality visionaries including A.P. Sabavala, Maneck S. Shaw and other pioneers, HRAWI has played a crucial role in shaping the hospitality landscape of Western India. Representing over 1,500 hotels and restaurants across Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Goa and the Union Territories of Dadra and Nagar Haveli and Daman and Diu, HRAWI has been instrumental in driving policy reforms, industry growth and sustainable hospitality practices.

Over the past seven decades, HRAWI has set numerous benchmarks, including being the first hospitality association to receive ISO certification, securing trademark registration and introducing IHQS – an independent hospitality qualification system.

“Our 75th year is a testament to the resilience, innovation and commitment of our members. HRAWI has been at the forefront of industry transformation, ensuring that the hospitality sector thrives amid evolving challenges. The Association has been instrumental in designing hospitality education syllabi for Mumbai University, NCHMCT and MSBTE-affiliated colleges. Additionally, it has played a crucial role in urban planning by helping identify tourism zones and residential-commercial areas in Mumbai. As we celebrate this milestone, we reaffirm our dedication to promoting growth, advocating for progressive policies and strengthening India’s position as a global tourism hub,” says Mr Jimmy Shaw, President, HRAWI.

Over the decades, HRAWI has actively collaborated with the Government and industry stakeholders, facilitating initiatives such as skill development programs, regulatory advocacy and sustainability efforts. As a part of the Federation of Hotel & Restaurant Associations of India (FHRAI), HRAWI continues to influence national hospitality policies. The Association has been led by esteemed industry stalwarts who have left an indelible mark on the sector. Their leadership has guided HRAWI in navigating economic shifts, regulatory changes and technological advancements.

“Our journey has been one of progress, innovation and perseverance. The hospitality industry is a key driver of India’s economy, and as we move forward, our focus remains on enhancing Ease of Doing Business, advocating tax rationalization and promoting an inclusive and sustainable hospitality ecosystem. HRAWI will continue to champion initiatives that empower our members and contribute to the growth of Indian tourism,” says Mr Pradeep Shetty, Spokesperson, HRAWI.

HRAWI has hosted prestigious regional conventions across Lavasa, Pune, Colombo and Nashik, focusing on themes such as sustainable development, global tourism and industry resilience. In 2024, the Association launched the ‘Empowering Hospitality Conclave & Awards’ series, successfully hosting events in Pune, Ahmedabad and Nagpur. These conclaves have become key platforms for knowledge exchange, industry networking and policy discussions.

“With a focus on sustainability, HRAWI is planning to sign MoU with AIC-BARC to implement solid waste management technologies in hotels and resorts. In partnership with FSSAI, the Association has trained and certified close to 3,300 hospitality professionals in food safety under the FoSTaC program. Additionally, HRAWI has promoted green initiatives by collaborating with organizations like IGBC, reinforcing its commitment to sustainable and responsible tourism,” adds Mr Shetty.

HRAWI’s Scholarship Trust, established in 1974 has been a cornerstone of our commitment to hospitality education, offering grants to IHM students for decades. Several industry stalwarts have contributed to this initiative, nurturing the next generation of hospitality professionals.

“As we step into our 75th year, HRAWI remains dedicated to promoting industry growth, advocating for policy reforms and driving sustainability. The Association is set to roll out special initiatives and commemorative events throughout the year, further strengthening its mission to elevate the hospitality sector. Our journey has been one of progress, innovation and perseverance and as we move forward, we will continue to champion initiatives that empower our members and contribute to the growth of Indian tourism. We will continue to be the voice of the hospitality sector, ensuring that our industry thrives in the years to come,” concludes Mr Shaw.

New Delhi, February 4, 2025: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2024.

CORPORATE HIGHLIGHTS:

A record-breaking calendar year 2024

• Booking value grew 69% to INR 28,800 crores from the sale of 26.38 million sq. ft. of area, a volume growth of 54%. This is the highest-ever booking value achieved by any listed developer in India in a calendar year.
• Collections and operating cash flow were INR 14,779 Crore, a YoY growth of 40%, and INR 6,043 crore, a YoY growth of 52%, respectively
• Delivered projects aggregating ~18 million sq. ft. across 7 cities
• Added 16 new projects with an estimated saleable area of 29.1 million sq. ft. and an expected booking value of INR 36,250 crore
• Net profit grew by 124% to INR 1,489 crores

Sales Highlights for Q3FY25 and 9MFY25

Booking value in 9M FY25 grew 48% to INR 19,281 crores from the sale of 18.21 million sq. ft. of area, a volume growth of 54%. This is the highest ever 9M booking value and area sold achieved by Godrej Properties and the highest ever by any Indian Real estate developer.

• Booking value in Q3FY25 was INR 5,446 crore from the sale of 4.07 million sq. ft. of area, a decline of 5% year-on-year and a growth of 5% quarter-on-quarter. This is the 6th consecutive quarter in which GPL has delivered more than INR 5,000 crore of booking value
• GPL has achieved 71% of its annual guidance for booking value for FY25
• MMR has achieved a booking value of INR 5,155 crores, a Y-o-Y growth of 104%, and Bengaluru has achieved a booking value of INR 4,807 crores, a Y-o-Y growth of 145% in 9M FY2025
• 7 new projects and phase launches during the quarter across 4 cities

Business development momentum continues

• Added 4 new projects with an estimated saleable area of 5.9 million sq. ft. and an expected booking value of INR 10,800 crore in Q3FY25
•  In 9M FY25, GPL added 12 new projects with a total estimated saleable area of approximately 16.9 million sq. ft. and a total estimated booking value potential of ~INR 23,450 Crore and have thereby surpassed the full-year guidance of INR 20,000 crores.

Other Highlights

Raised INR 6,000 crore of equity for growth capital through largest ever QIP by a real estate company in India in Q3FY25.
Delivered projects aggregating ~2.6 million sq. ft. across 2 cities in Q3FY25 taking the year-to-date total to ~11.9 million sq. ft.

Commenting on the performance of Q3 FY2025, Mr. Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said:

“Godrej Properties delivered a record-breaking calendar year 2024 with its highest ever bookings, collections, operating cashflows, earnings and deliveries. The third quarter of financial year 2025 was the 6th consecutive quarter of more than INR 5,000 crores bookings underlying the sectoral tailwinds for the residential real estate sector in India. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track to surpass our bookings guidance of INR 27,000 cores in FY25 while also achieving our highest ever cash collections, deliveries, earnings and operating cash flow.

We remain focused on building scale through continued market share gains and margin expansion.”

Financial Overview (Consolidated)

Q3 FY25 performance overview compared with Q3 FY24

•  Total Income grew by 133% to INR 1,222 crore as compared to INR 524 crore
•  EBITDA grew by 85% to INR 280 crore as compared to INR 152 crore
•  Net Profit grew by 161% to INR 163 crore as compared to INR 62 crore
•  EPS# amounted to INR 5.70 as compared to INR 2.24

#not annualised

9M FY25 performance overview compared with 9M FY24

•  Total Income grew by 74% to INR 4,203 crore as compared to INR 2,410 crore
•  EBITDA grew by 144% to INR 1,336 crore as compared to INR 548 crore
•  Net Profit grew by 301% to INR 1,018 crore as compared to INR 254 crore
•  EPS# amounted to INR 36.29 as compared to INR 9.14

Mumbai, 4th February 2025: Bank of Baroda (Bank), one of India’s leading public sector banks, recognized Mr. Pranav Soorma, an Officer of the Bank and recipient of the prestigious Arjuna Award 2024.

At the Paris Paralympic Games 2024, Mr. Soorma won a Silver Medal for India in the Men’s F51 Club Throw event. He was presented with the Arjuna Award 2024 on January 17, 2025, for his outstanding achievements in Para Athletics and for bringing glory to the nation.

Shri Debadatta Chand, Managing Director & CEO, of Bank of Baroda said, “Pranav’s remarkable accomplishments are a result of his relentless dedication and perseverance, and as an organization, we stand by him as he continues to make the country proud. Our sports quota initiative is designed to support and empower talented individuals by providing them with the necessary institutional backing to excel in their chosen fields. We remain committed to fostering a culture that nurtures talented sportspeople like Pranav and encourages excellence in all spheres of life.”

Shri Chand honored Mr. Soorma in recognition of his accomplishments by granting an out-of-turn promotion as Manager, a cash reward of Rupees Ten Lakh, and acknowledging him as a ‘Sportsperson’ within the Bank.

National, India, 4th February 2025-Following the announcement of investing 500 Crore in AI Centers of excellence; in a ground-breaking initiative set to change the face of management education in India, IIM Sambalpur has joined hands with Breakout Learning Inc. on AI-driven digital case study solutions. The objective of this collaboration is to pursue India as a hub for a technology-driven and globally competitive management learning system.This trailblazing collaboration will see IIM Sambalpur use Breakout Learning’s cutting-edge AI-enabled case platform in its MBA; Executive MBA; and Ph.D. programs, which will be the new benchmark for digital learning in India. Premium case studies from the world’s best institutions like “Ivey and Harvard” will be accessible to students and faculty members exclusively, thereby bringing international academic excellence with high legal and financial standards.This partnership will also allow students to extend beyond adoption, fostering innovation.

Additionally, it will provide an opportunity for faculty and students at IIM Sambalpur to co-create cutting-edge management cases, hosted on Breakout Learning’s platform, positioning India as a leader in AI-driven business education. Intellectual property rights for these AI-generated cases will be jointly owned, empowering faculty with discounted access for teaching and research purposes.

Highlighting the significance of this alliance, Prof MahadeoJaiswal, Director, IIM Sambalpur said, “Following the announcement of 500 Crores investment in AI centres of excellence in Union budget, this momentous collaboration with Breakout Learning is a game-changer for Indian management education, addressing long-standing challenges in traditional teaching methodologies. By integrating AI-driven case-based learning, we are preparing future leaders with unparalleled decision-making and analytical skills, propelling India into the global forefront of business education. As we look at global rankings, Indian B-schools are still not placed in the top 200. In terms of innovation and research, faculty members are often occupied with teaching responsibilities and don’t have enough time for research. However, with the integration of AI, teachers will receive support, allowing them more time for research, innovation, and case writing. This shift will contribute to enhancing their academic output and, ultimately, help improve global rankings.”
He further added, “With this strategic alliance, IIM Sambalpur further forges its front-runner position as an innovation-led education provider while aligning itself with India’s vision of emerging as a knowledge powerhouse and shaping the next set of management professionals ready to compete with the Harvard University in terms of Case Projects.”

Ramit Varma, CEO and Co-Founder, Breakout Learning, USA, said, “Our project involves classroom discussion, we learned that this is the optimal size for small groups. We realized this format is fundamental to our experience as humans. Learning is one of our deepest desires and needs. However, if you look at the way our classrooms are set up, they aren’t engaging. They almost feel like factories, where students are workers, and the system is a factory mindset. At Breakout Learning, we break students into small groups, focus on areas with no answers at all, and then allow students to discuss among themselves creating a pool of ideas. This helps students to learn, communicate and engage. IIM Sambalpur is the first institute in India to bring transformative change and is ready to compete with Harvard University.”

He further added, “At Harvard University, the case project involves PDFs and immerses students in realistic business scenarios. However, their traditional approach, which relies on physical interactions, can be time-consuming and hectic. Additionally, students often come unprepared, while instructors are well prepared. In contrast, the integration of AI in our approach forces students to think critically, communicate, discuss, evaluate, create, implement, and innovate. This not only better prepares students for the real world but also surpasses Harvard’s traditional method in terms of engagement and effectiveness.”

Breakout Learning will ensure the smooth integration of its AI-driven platform into IIM Sambalpur’s curriculum, which will be supported by dedicated technical support. Financial agreements, including access fees and case development royalties, will be structured under a separate agreement to ensure mutual benefit and long-term sustainability.

Mumbai, 4th February 2025 – Veefin Group (through their subsidiary Estorifi Solutions), a global leader in working capital technologies, has announced the acquisition of TradeAssets, a Dubai-based company specializing in the digital trading of trade finance assets. This strategic move marks a significant step in the Group’s mission to become a one-stop shop for the financial needs of banks and financial institutions, enhancing their ability to manage liquidity, distribute risk, and access global markets. This also marks Veefin’s fifth acquisition in the past eight months, making the Veefin Group a total of ten companies.

TradeAssets, based out of UAE, co-founded by senior ex-bankers Lakshmanan Sankaran and Sumit K Roy, creates efficiency and transparency between financial institutions, development banks, and commodity traders in the buying and selling of trade finance assets. TradeAssets revolutionizes banking operations with a powerful platform that facilitates the trading of trade finance assets like Letters of Credit, Guarantees, Open Account payables and receivables including Islamic products. In just three years, the platform has handled over USD 4 billion in deals, connecting more than 120+ banks across over 35 countries. This pivotal service empowers banks constrained by Basel regulations to swiftly liquidate assets, liberating capital for new lending opportunities and boosting financial agility.

The acquisition is a natural fit within Veefin Group’s overarching strategy to streamline and strengthen financial operations for institutions worldwide. With the integration of TradeAssets, the Group elevates its portfolio and cements its position as a key ally for banks, ushering in a new era of collaborative financial solutions.

Strategic Benefits of the Acquisition:

• Integrated Offerings: Veefin Group’s current suite includes solutions for supply chain finance, trade finance, and cash management. Adding TradeAssets will allow banks to originate, distribute, and manage trade finance assets seamlessly under one unified ecosystem.
• Enhanced Collaboration with Banks: The inclusion of TradeAssets in Veefin’s portfolio solidifies its role as a collaborator, aiding banks in unlocking more value from their trade finance operations and navigating regulatory landscapes more effectively.
• Cross-Selling Opportunities: This acquisition opens new avenues for Veefin Group to deepen relationships with existing customers and extend its comprehensive range of solutions—including trade finance, cash management, and automated receivables—to TradeAssets’ clientele.

Raja Debnath, Chairperson, Co-Founder & CEO, Veefin Group said, “Today’s announcement is a milestone not just for Veefin Group but for the entire financial technology sector. Integrating TradeAssets into our ecosystem allows us to offer even more comprehensive solutions to global financial institutions. This move aligns with our goal to provide an integrated platform that covers all aspects of trade finance, from origination to distribution and beyond. We will continue to acquire companies to add to the Veefin Group’s ecosystem to better serve our banking and corporate clients”.

Lakshmanan Sankaran, Co-Founder & Chairman, TradeAssets, “The TradeAssets platform operates in a large market base consisting of over 10,000+ banks, with estimated secondary asset sales of USD 1tn and primary asset origination of USD 2tn. The trade finance industry is at a critical juncture, with banks seeking smarter ways to manage liquidity, distribute risk, and access global opportunities. By joining the Veefin Group, we bring our expertise in trade asset distribution to a comprehensive platform that empowers banks to seamlessly originate, syndicate, and manage trade finance portfolios. Together, we would endeavour to redefine how financial institutions maximize value from their trade finance operations”.

[February 4, 2025]: As part of its multi-pronged approach, ISB’s Thomas Schmidheiny Centre for Family Enterprise brought together thought leaders and experts to share their insights on the challenges and opportunities in family business at the 9th Asian Invitational Conference on Family Business.

Themed – ‘Revitalising the entrepreneurial spirit of business families’ – the two-day conference organised at the Hyderabad campus of the Indian School of Business (ISB) examined topics such as stewardship, innovations, women and Gen Next leadership, emerging geopolitics, entrepreneurship ecosystem, conflict resolution, AI, digital transformation, among others. At the conference, over 30 family business leaders and thought leaders shared their rich and varied experiences and insights with nearly 250 delegates. The conference offered an excellent platform to learn, share, and build capabilities in family businesses.

The Thomas Schmidheiny Centre for Family Enterprise engages closely with leading family businesses in India and Asia through collaborations, conferences, roundtables, workshops, and forums. These engagements have helped the Centre contribute significantly to the growing body of research on various aspects of family business and emerge as the face of family business scholarship in India.

New Delhi, February 04, 2025: Satya Intl, a leading global conglomerate in automotive and consumer products, is delighted to announce that it has entered into a licensing agreement with DURACELL, a globally recognized brand for batteries & power products. Satya Intl’s focus is to deliver an extensive range of lead acid, tubular, inverter, and ups batteries to consumers under the Duracell Brand. Alongside the battery range, Satya Intl will launch a series of automotive power accessories such as battery chargers/maintainers and jump starters, offering consumers a complete solution for maintaining and enhancing their vehicles.

“At Satya Intl, we are dedicated to providing innovative and high-quality products that meet the diverse needs of our global customers,” said Rakesh Sharma – Managing Director at Satya Intl. “Our licensing agreement with Duracell Inc., of USA marks a significant milestone in our journey to enhance the automotive & tubular batteries and automotive accessories market in Asia and Africa. We aim to bring unparalleled value, performance, and convenience to our customers. Notably, we have a strong presence in India, where the demand for high-quality automotive products and power accessories is rapidly growing.”

Satya Intl has been granted the authority to manufacture, market, and distribute the products under the Duracell brand in various Asian countries such as Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, India, Indonesia, Laos, Malaysia, Maldives, Myanmar, Mongolia, Nepal, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand, Timor-Leste, Vietnam, and New Zealand along with African countries such as Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, the Central African Republic, Congo, Equatorial Guinea, Ethiopia, Ghana, Guinea-Bissau, Iberia, Ivory Coast, Kenya, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Palestine, Rwanda, Senegal, Seychelles, Somalia, South Africa, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia, and Zimbabwe.

The new range of products will be officially launched in mid-February 2025 and available to customers through Satya Intl’s distribution channels starting April 2025. Satya Intl is confident that they will set a new standard in the industry, delivering outstanding value and satisfaction to their customers.

Mumbai, 4th Feb 2025: Quess Corp’s subsidiary, Alldigi Tech Limited (formerly Allsec Technologies Limited), a leading provider of Payroll and HRMS solutions processing over 1.5 million payslips monthly, has entered into a strategic collaboration with LuLu Financial Holdings, a UAE-based global financial services conglomerate. This partnership aims to redefine payroll and HRMS services in the MEA region by delivering integrated, technology-driven solutions tailored to the diverse needs of LuLuFin’s extensive customer base.

This collaboration will enable LuLuFin to elevate payroll and HR management for its clients through the integration of Alldigi Tech’s advanced payroll platform and HRMS capabilities. By simplifying salary calculations, generating accurate disbursement reports, and integrating seamlessly with LuLuFin’s offerings, the solution provides businesses with a comprehensive and hassle-free experience. By reducing manual effort, minimizing errors, ensuring compliance with local payroll regulations and streamlining HR processes, it not only saves time but also allows businesses to focus on growth and delivering value to their employees.

Mr. Richard Wason, CEO of LuLu Financial Holdings, commented, “Our mission has always been to provide innovative and accessible financial solutions that meet the diverse needs of community. Partnering with Alldigi Tech will enable us to offer a simple, cost-effective solution for payroll management, helping SMEs reduce administrative burden and focus on growth.”

Mr. Naozer Dalal, CEO of Alldigi Tech, added, “We are excited about this partnership as it combines our payroll expertise with LuLuFin’s deep understanding of the SME sector. Together, we are creating a solution that not only addresses the growing demand for payroll automation but also helps businesses run more efficiently and enhance employee satisfaction.”

LuLu Financial Holdings and Alldigi Tech have partnered to offer SMEs a simplified payroll processing solution featuring strong customer support and query resolution. By combining LuLuFin’s local expertise with Alldigi Tech’s robust system, SMEs can immediately streamline payroll operations, freeing up resources to focus on growth and core business activities.

Kolkata, India, 4 February 2025 – The Annual Cosplay Workshop ahead of Maruti Suzuki Arena Kolkata Comic Con 2025, powered by Crunchyroll, was an unforgettable gathering of creativity, passion, and craftsmanship! Held on February 1, 2025, at Musafir, Kaikhali, the event brought together cosplayers and enthusiasts from all walks of life.

The event was hosted by Saurabh Singh Rawat, Indian Cosplay Champion 2024 and founder of a renowned cosplay studio; Souvik Mitra, a Kolkata-based IT professional known for his tech-driven, interactive cosplay; and Pracheta Banerjee, an internationally acclaimed artist and cosplayer celebrated for her award-winning work in comics, animation, and cosplay.

The trio led an interactive session that inspired aspiring cosplayers in attendance. During the hands-on demonstration, they showed the audience how to create intricate costumes using simple materials such as foam, fabric, glue, and scissors. They aimed to prove that cosplay is accessible to everyone, even with basic supplies. Attendees were not only wowed by the simplicity of their hacks but were also thrilled by the encouragement and practical advice shared by our talented cosplayers.

The energy in the room was palpable as participants walked away with newfound confidence, ready to take their cosplay game to the next level at the upcoming first-ever Kolkata Comic Con!

Gurugram | February 04, 2025: Hyundai Motor India Foundation (HMIF), the philanthropic arm of Hyundai Motor India Limited (HMIL), made a transformative impact in 2024 by uplifting over 2 million lives through holistic, inclusive and sustainable social initiatives. With a substantial investment of INR 400 Crore since 2020 through multi-year mid-to-long term social projects, HMIF has strengthened its commitment to Hyundai’s global vision of “Progress for Humanity,” bringing progress to communities across 26 states and 1,250 villages in India.

Touching upon HMIF’s efforts towards responsible corporate citizenship, Mr. Unsoo Kim, Managing Director – Hyundai Motor India Limited, said, “2024 has been a defining year for the Hyundai Motor India Foundation, as we have strengthened our commitment towards driving transformative change at the grassroots across Bharat. Addressing critical challenges in education, healthcare, and environmental sustainability, we are not only driving tangible impact, but also laying the foundation for a brighter, more resilient, and inclusive future. Guided by Hyundai Motor Company’s global vision of ‘Progress for Humanity,’ we strive to empower individuals and communities to thrive with self-reliance and a deeper sense of purpose. As we step into 2025, we remain committed towards building a better world, for what we sow today, will our future generations reap tomorrow.”

Through various CSR initiatives under the core pillars of Earth, Mobility, and Hope, HMIF has championed change for good. Promoting community-driven economic initiatives, HMIF helped generate income benefits worth over INR 40 Crore, empowering local communities to achieve self-reliance. The Foundation also made significant strides in environmental stewardship by reducing 21,811 tons of CO2 emissions by planting over 21,000 trees to enhance green cover, and recycling 7,52,250 kg waste to promote sustainable and circular economy practices.

HMIF also awarded scholarships worth INR 3.38 Crore, enabling young talent across India to pursue their academic aspirations, extended support to 481 specially-abled people through focused projects, and nurtured creativity and cultural diversity by providing grants totalling INR 1.65 Crore to 150 multidisciplinary artists since 2021.

With a vision to continue its transformative journey, HMIF reaffirms its promise to spread hope, and build a better and more inclusive tomorrow.