July 30th, 2010, 12:27 PM
This Thread Will Keep updates of Industries & manufacturing companies In and Around Hyderabad.
View Full Version : Hyderabad Small & Large scale Industries updates
July 30th, 2010, 12:27 PM
This Thread Will Keep updates of Industries & manufacturing companies In and Around Hyderabad.
July 30th, 2010, 12:31 PM
Hinduja to invest Rs 170 cr in greenfield unit
Hinduja Foundries Ltd, part of the Hinduja group, is planning a greenfield facility in Hyderabad at an investment of around Rs 170 crore, besides investing around Rs 50 crore in balance of plant and optimisation at its Sriperumbudur plant. The company has said it would look at right time for market to raise money for expansion.:cheers:
Greenfield unit near Hyd
V Sankar, chief financial officer, Hindjua Foundries Ltd, told Business Standard that the company was planning to set up a greenfield facility at Toopran on the Hyderbad-Nagpur highway. The new facility will come up in 60 acre of land with a capacity of around 48,000 tonnes. “At the current industry trend, the investment could be around Rs 160-170 crore,” he said.:banana:
July 30th, 2010, 12:33 PM
Engineers India Ltd (EIL) eyes key role in city gas
Hyderabad: Engineers India Ltd (EIL), the public sector engineering and consultancy services company, is working on a plan to play a key role in the city gas distribution sector.
“We would look at buying 25% of a city gas joint venture. Funding is not a problem. We have about Rs 1,000 crore in the form of reserves and we will make use of these funds for the proposed equity investments,” R K Grover, EIL’s director - projects, said.
He said EIL has already initiated talks with some of the players in the city gas business. Public sector gas firm GAIL and the Adani group are believed to be the potential partners EIL is keen on forging ties with.
“We are in talks with GAIL, Adani Group and a few others for a joint venture,” Grover said.
However, GAIL is expected to get more number of cities in its fold, particularly the metros.
EIL is also considering joining hands with others to operationalise the now defunct Ramagundam coal-based fertiliser plant in Andhra Pradesh using gas.
July 30th, 2010, 12:35 PM
ICSA sets up Smart Meters manufacturing facility in Andhra Pradesh
• The 5 acres plant is located at Pashmailaram, Patancheru, Medak in Andhra Pradesh
• The facility is expected to produce 1, 50,000 Smart Energy Meters (SEM) per month
• The company has invested approximately Rs 26 crores for its set up
– Hyderabad, July 24, 2010: ICSA (India) Ltd, (BSE: 531524), provider of embedded technology solutions and infrastructure deployment services for the power sector, today launched its Smart Energy Meter (SEM) manufacturing facility at Pashmailaram, Patancheru, Medak in Andhra Pradesh. The plant was inaugurated by Mr. Kapil Mohan, IAS, Director (APDRP, RE & NEF) Ministry of Power, Government of India.
The five acre, first Smart Energy Meter manufacturing plant in Andhra Pradesh is expected to manufacture 1, 50,000 meters. This manufacturing facility is ISO 9001:2008 and ISO 14001:2004 certified premises. The company has invested approximately Rs 26 crores for its set up.
ICSA entered into SEM business in India in 2010 and this manufacturing facility will enable it to exclusively manufacture the meters to be supplied to its distribution utilities. The SEM business is a part of the embedded technology business and helps in accelerating the company’s revenue growth.
The Smart Energy Meter is a combination of an energy meter and a communication device which is the next generation in energy metering and forms the backbone for Smartgrids in the country.
Commenting on the development, Mr. G. Bala Reddy, Managing Director, ICSA (India) Ltd said “The total meter installation in India is 142 million while the replacement market potential is estimated to be 100 million meters. The SEM market in India is still in its nascent stage and therefore, devoid of any tough competition. With the new manufacturing facility in Andhra Pradesh, we are definite to establish ourselves as a prominent player in this sector. ICSA is committed to innovate and provide products and services as per the increasing demands of industry to the best of its ability.”:banana:
July 30th, 2010, 12:35 PM
LG to make India R&D centre for global markets: Moon B Shin, MD, LG India
NEW DELHI: Consumer electronics major LG plans to make India its key R&D centre for the global markets. The South Korean major will not only introduce a new product platform in 2012, but also increase its manufacturing competitiveness from India. LG India managing director Moon B Shin talks about how Indian manufacturing facilities would become the export hub for LG, servicing the South East Asian, Middle East and African markets.
Will this put pressure on your manufacturing units?
For manufacturing, the option is to put more lines at our second factory in Pune. But from the logistics view, delivery will take a longer time. We’re looking at Hyderabad or Chennai for our third location. As market grows, manufacturing cost will improve and export market will see Indian-made product fighting with Chinese-made products.:cheers:
August 27th, 2010, 11:00 AM
PEBS Pennar announces expansion of its facility
India Infoline News Service / 14:12 , Aug 05, 2010
The PEBS Pennar facility was commissioned in February, 2010 in Medak district near Hyderabad for manufacturing world class 'green' pre-engineered buildings.
PEBS Pennar, the subsidiary of Pennar Industries Limited, India's leading engineered metal products company, announced an expansion of its facility from 30,000 MTP to 50,000. The work on the second been line has begun.
The PEBS Pennar facility was commissioned in February, 2010 in Medak district near Hyderabad for manufacturing world class 'green' pre-engineered buildings. In a short span of six moths the company today boasts an order book of Rs. 1.7bn.:cheers:
Speaking on the occasion Nrupender Rao, Chairman Pennar Industries, said, “The industry has accepted the concept of Pre-engineered buildings and with a boon in the infrastructure industry and warehousing we see the pre engineered building sector grow to a Rs. 5000 crore industry. We at PEBS Pennar are creating the manufacturing, design, erection, and marketing infrastructure to meet the demand.”
PEBS Pennar has been set up by Pennar Industries to diversify into the design, manufacture, supply and erection of pre-engineered steel buildings for use in setting up industrial facilities, warehouses, commercial centres, multi-storied buildings, aircraft hangars and sports complexes. The new PEBS Pennar facility is being set up in two phases at a total estimated cost of Rs 105 crore to produce 50,000 tonnes per annum.
PEBS Pennar sources technical know-how from NCI Group, with sales of over USD one billion, and is one of the largest integrated providers of engineered building systems in the world.
PEBS Pennar is a member of the Indian Green Building Council (IGBC) and provides energy efficient green buildings, which qualify for LEED (Leadership in Energy and Environmental Design) points under the sustainable sites, materials & resources, energy & atmosphere and innovation & design categories.
Pennar Industries is the market leader in India for engineered metal products for customer sectors like railways, road construction, automotive, etc.:banana:
August 29th, 2010, 07:17 PM
PEBS Pennar announces expansion of its facility
India Infoline News Service / 14:12 , Aug 05, 2010
The PEBS Pennar facility was commissioned in February, 2010 in Medak district near Hyderabad for manufacturing world class 'green' pre-engineered buildings.
PEBS Pennar, the subsidiary of Pennar Industries Limited, India's leading engineered metal products company, announced an expansion of its facility from 30,000 MTP to 50,000. The work on the second been line has begun.
The PEBS Pennar facility was commissioned in February, 2010 in Medak district near Hyderabad for manufacturing world class 'green' pre-engineered buildings. In a short span of six moths the company today boasts an order book of Rs. 1.7bn.:cheers:
Speaking on the occasion Nrupender Rao, Chairman Pennar Industries, said, “The industry has accepted the concept of Pre-engineered buildings and with a boon in the infrastructure industry and warehousing we see the pre engineered building sector grow to a Rs. 5000 crore industry. We at PEBS Pennar are creating the manufacturing, design, erection, and marketing infrastructure to meet the demand.”
PEBS Pennar has been set up by Pennar Industries to diversify into the design, manufacture, supply and erection of pre-engineered steel buildings for use in setting up industrial facilities, warehouses, commercial centres, multi-storied buildings, aircraft hangars and sports complexes. The new PEBS Pennar facility is being set up in two phases at a total estimated cost of Rs 105 crore to produce 50,000 tonnes per annum.
PEBS Pennar sources technical know-how from NCI Group, with sales of over USD one billion, and is one of the largest integrated providers of engineered building systems in the world.
PEBS Pennar is a member of the Indian Green Building Council (IGBC) and provides energy efficient green buildings, which qualify for LEED (Leadership in Energy and Environmental Design) points under the sustainable sites, materials & resources, energy & atmosphere and innovation & design categories.
Pennar Industries is the market leader in India for engineered metal products for customer sectors like railways, road construction, automotive, etc.:banana:
OH!! pennar industries is still alive.After closure of pennar finance.Pennar steels,Pennar aluminium putting the shareholders to pecuniary looses it has taken another avatar.
September 1st, 2010, 09:48 AM
Vaishnavi Gold to invest Rs 150 cr in expansion
Hyderabad, Aug. 31
Vaishnavi Gold is planning to invest Rs 150 crore to expand its operations in Hyderabad.
The investment would go into setting up of a retail store, mall and manufacturing facility in next six months, Mr M. Prakash, Chairman and Managing Director, Vaishnavi Gold, told newspersons here on Tuesday at a press conference to announce opening of a 4,500-sft store at Kukatpally.
“Our store at Kukatpally will be formally opened tomorrow.
“We will offer traditional and contemporary jewellery including diamond jewellery of international standard,'' he said.
A similar mall would also be set up in Dilsukhnagar here which would be operational in the next four months.
In addition, Vaishnavi is also planning to set up a five-story mall in 10,000 sq ft at Somajiguda.:cheers:
Apart from the proposed mall and retail outlet, a manufacturing facility is also coming up at Secunderabad.:banana:
“The manufacturing facility will involve Rs 30 crore working capital and Rs 4 crore fixed asset investment,'' he added.
The Hyderabad-based Vaishnavi had done a business of Rs 120 crore during the last financial year.
September 10th, 2010, 04:23 PM
Atlas Copco to invest Rs 100 cr in 2 yrs on capacity expansion
NEW DELHI: Construction equipment maker Atlas Copco on Friday said it plans to invest Rs 100 crore in the next two years on enhancing the production capacity of its existing plants.
"We will invest around Rs 100 crore in the next two years on increasing capacities of our existing plants. Most of the fund will go in the process of acquiring land," Atlas Copco India Managing Director Filip Vandenberghe told reporters.
The Stockholm-based company, which is engaged in the making of compressors, mining equipment and other industrial products, currently has three facilities in Pune, Nashik and Hyderabad.
The firm is particularly looking at expanding the capacity of its Pune plant, which makes compressors, he said, adding the company is in the process of acquiring land there.
"We are actually extending our capacity in Hyderabad. Our strategy is to extend our capacity in relation to the development activities taking place in the country," Atlas Copco Group President and Chief Executive Officer Ronnie Leten said.:cheers:
Besides, the company, which employs around 1,700 people, said it is looking at increasing its work force by another 10 per cent this year as part of its capacity expansion.
October 3rd, 2010, 07:21 AM
Berco India's unit opened
HYDERABAD: Berco Undercarriages (India) Pvt. Ltd., a leading manufacturer of undercarriages systems and components for earthmoving machinery, has opened its India centre at Cherlapally on the city outskirts.
Berco, part of Italy-headquartered Thyssenkrupp Group, has opened its facility on an eight-acre plot comprising 8,000 sq.m built-up area including office space of 1,200 sq.m. The new unit, according to Berco India managing director Federico Maurilli, was a perfect combination of European and Indian technology.
October 8th, 2010, 07:48 AM
Transformer assembling unit
B.S. Transcomm Limited, the Hyderabad-based company that went for initial public offering which closes on October 8, has plans to set up a transformer assembling unit here later this year in association with a Chinese company.
This was stated by company CMD Rajesh Agrawal here on Thursday as part of their road-show on the IPO aimed at diluting 35 p.c. of the company's stake. – Staff Reporter
October 10th, 2010, 03:58 PM
Suryalata Spinning Mills plans capacity expansion
SLSML is in the expansion mode - Increase in the capacity of its blended yarn spinning - Plan to set up a 10 MW Thermal Power plant:cheers:
Hyderabad, Andhra Pradesh,Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) is increasing the capacity of its blended yarn spinning to 200,000 spindles in the next couple of years.
As a first step, the company is launching a new Bay of manufacturing line with 35000 spindles at Urukondapet, near Hyderabad at an average estimated cost of Rs.25000/per spindle.
The company is also setting up a 10 MW Thermal (Coal based) Power plant for captive consumption at an estimated cost of about Rs. 45 crores which would kick in cost efficiencies and improved margins.
SLSML has been continuously expanding its manufacturing capacities by adding 42888 spindles during past five years through internal accruals, promoters funding and loans from financial institutions .
Commenting on the expansion plans, the Joint Managing Director of the company, Mr M.K.Agarwal said "In India, present yarn consumption pattern is 60% cotton and 40% synthetic and in the world it is vice versa i.e 40% cotton and 60% synthetic. Consumption of synthetic yarn is increasing in India and expecting in line to world consumption pattern in the years to come. It provides growth opportunities to synthetic industry and we are focusing only on spinning of synthetic blended yarns.
The company also plans to achieve the expansion plan partly by way of infusion of equity capital, internal accruals, raising of funds thru Investors and partly by way of debt".
November 19th, 2010, 06:10 AM
Cadbury to make Tang in India
The integration process of Cadbury and Kraft in synergising distribution channels is on
NEW DELHI: Cadbury India on Thursday said it would start manufacturing of parent Kraft Foods' orange drink Tang, while it would also embark on a capacity expansion for its confectionery products.
“We will start local manufacturing of Tang in India. We are rejuvenating it and we will start producing it within this fiscal,” Cadbury India Managing Director Anand Kripalu told reporters here on the sidelines of an event.
He said Tang, which had been imported from Thailand to serve the Indian market so far, would be produced at the Kraft's Hyderabad plant.
“It is a legacy plant of Kraft in Hyderabad, which has not been utilised. We will start manufacturing there,” he said.
Cadbury India came under the Kraft Foods fold after the U.S.-based firm acquired British candy maker Cadbury for $19.6 billion in January.
Asked if Cadbury India would be selling more products from the Kraft portfolio, Mr. Kripalu said: “As of now we are still focussing on our core confectionery business.”
He, however, said the integration process was still going on in terms of synergising distribution channels of Cadbury and Kraft in India.
Commenting on the overall plans of Cadbury India, he said: “Capacity is a challenge for us, as we look to drive up volumes. We need to expand it and we will be doing it significantly.”
December 2nd, 2010, 07:48 PM
Carlsberg India Pvt Ltd has opened up its fifth brewery in the country in Hyderabad, Andhra Pradesh. The state-of-art brewery in Medak, 50 km from Hyderabad, has the potential to become Carlsberg’s largest brewery in the country, making Carlsberg India, one of the most formidable players in the market. Carlsberg India already has four operational breweries in Paonta Sahib, Himachal Pradesh; West Bengal, Kolkata; Aurangabad, Maharashtra and Alwar in Rajasthan.
This introductory venture into South India reaffirms Carlsberg’s commitment to India and will be the export centre for the entire southern market along with the markets in the state of Orissa and Chattisgarh. Carlsberg India has invested Rs 128 crores in this Greenfield project. The brewery has been installed with a start-up capacity of 425,000 HL and will create employment for more than 200 people. To further leverage its commitment to India, Carlsberg has procured key utilities such as boiler, waste water treatment plan, and water treatment plant from India. All brands of Carlsberg India’s portfolio vis-ŕ-vis Carlsberg, Tuborg Green, Tuborg Strong and Palone will be brewed in this facility.
Inaugurating the new brewery Soren Lauridsen, managing director, Carlsberg India said, “The opening of the Hyderabad brewery reaffirms Carlsberg’s robust expansion plans for India. The vision of Carlsberg in India is to become a leading player in the market, by offering premium international quality brands to the Indian consumers. We brew a greater future, for our consumers and customers, our communities, our people and Andhra Pradesh.”
The brewery is spread over 36 acres of land of which more than 20 acres has been demarcated as a green area. In line with its global principles of social responsibility, Carlsberg India has installed a treated effluent re-use plant in addition to the waste water treatment plant.
Roy Bagattini, Senior Vice President & Chairman, Carlsberg India who was present at the formal opening ceremony of the brewery highlighted the company’s aim to build a growth platform for businesses all across Asia and revealed the importance of India as an important long term market for Carlsberg.
With this fifth brewery, Carlsberg India has further strengthened its foothold in the Indian beer market. In regards to its commitment to offer the best to its consumers, Carlsberg promises to bring out “probably the best brew” from its Andhra Pradesh brewery in keeping with its global standards.
December 5th, 2010, 07:26 PM
ATL mulls Rs 45-cr plant for Missile Communication Devices (http://www.business-standard.com/india/news/atl-mulls-rs-45-cr-plant-for-missile-comm-devices/417223/)
Aishwarya Telecom Limited (ATL), a Hyderabad-based company engaged in the manufacture of telecom and fibre optic products and cable fault locators, is betting big on the Indian defence sector. Towards this, it is contemplating setting up a new facility in Hyderabad for production of missile communication equipment, entailing an investment of Rs 45 crore.
“We have been empanelled by the defence organisations and labs to manufacture missile communication equipment. As per the mandate given by the defence organisations, we should set up a manufacturing plant in the next six months. We have already identified land, and the plant will come up either at a special economic zone (SEZ) near the Shamshabad airport or the Fab City,” GR Manohar Reddy, managing director of Aishwarya Telecom, told Business Standard.
Full Link (http://www.business-standard.com/india/news/atl-mulls-rs-45-cr-plant-for-missile-comm-devices/417223/)
December 7th, 2010, 09:13 AM
Fapcci seeks support for micro, small units
The Federation of Andhra Pradesh Chamber of Commerce and Industry (Fapcci) has sought the Andhra Pradesh Government and Chief Minister, Mr N.Kiran Kuma Reddy's support to improve the industrial climate, urging them to lay special thrust on micro, small and medium enterprises (MSMEs).
A delegation comprising the Fapcci President, Mr Shekhar Agarwal, past president, Mr Om Prakash Tibrewala, and others met the Chief Minister on behalf of the Federation on Monday.
The discussion centred around the present industrial scenario in the State with special emphasis on problems faced by the MSMEs.
The delegation maintained that if the Government extends support to MSEMEs, industry and trade will prosper and pave way for economic development and thereby provide increased employment opportunities.
According to Fapcci, the Chief Minister assured the delegation of Government support and suggested a follow-up meeting with the Federation and industry representatives.
The State's economy being predominantly agrarian in nature, the Federation mentioned that there is scope for development of agri-based industries.
It expressed the need to focus on establishing three-four small units in each mandal, which will encourage local farm producers to work with these industries.
According to the Federation, in spite of favourable conditions, the progress on industrial front of late is not encouraging.
They felt that the infrastructure available is not conducive for the development of industries.
They also maintained that the flow of financial assistance to SMEs is inadequate. For the industrial users, power supply has been a major cause for concern last year.
They wanted the Government to ensure 24x7 power supply.
The Federation also cited the single-window clearance system aimed at accelerating industrial development. But in practice there are stumbling blocks in the functioning of the clearance system.
December 8th, 2010, 02:49 PM
Micromax plans to set up two units near Hyderabad (http://www.business-standard.com/india/news/micromax-plans-to-settwo-units-near-hyderabad/118638/on)
Micromax, a domestic mobile handset major, plans to set up a manufacturing unit near here, a senior Andhra Pradesh Government official said today.
The mobile major also plans to simultaneously set up a solar cells manufacturing unit near the state capital, State Industries Commissioner R Karikal Valavan said here.
"They (the company) came to us for land. We offered 30 acres for solar cells manufacturing unit in Fabcity :) near the international airport. We have also shown them land fro mobile phone manufacturing unit in Electronic SEZ," he told PTI.
Valavan said the company officials are likely to come out with a detailed project report on mobile manufacturing units by the end of this month.
"The company officials have visited both places and expressed satisfaction. For the solar cell project, they wanted 30 to 35 acres and for mobile manufacturing unit they are yet to make a request. The investment for solar unit will be more than Rs 1,500 crore," Valavan said.
According to reports, Micromax currently has been selling 1 million units per month through its retailer network and plans to double this figure in the next six months.
At present, the company imports handsets from Taiwan, South Korea and China. The company produces fixed wireless telephone equipment from its plant in Baddi, Himachal Pradesh.
So finally we have something to kick of the Electronics SEZ with an investment in the TELECOM MANUFACTURING SECTOR
December 24th, 2010, 08:59 AM
goodNike Air Max 180 Men (http://www.retro-jordans-shoes.com/nike-air-max-nike-air-max-180-men-c-78_83.html)Nike Air Max 180 Men shoes (http://www.retro-jordans-shoes.com/nike-air-max-nike-air-max-180-men-c-78_83.html)Cheap Nike Air Max 180 Men Sale (http://www.retro-jordans-shoes.com/nike-air-max-nike-air-max-180-men-c-78_83.html)chaep Nike Air Max 180 Men (http://www.retro-jordans-shoes.com/nike-air-max-nike-air-max-180-men-c-78_83.html)Nike Air Max 180 Men on sale (http://www.retro-jordans-shoes.com/nike-air-max-nike-air-max-180-men-c-78_83.html)
February 4th, 2011, 10:58 AM
Sai Advantium plans to set up two formulation manufacturing facilities in AP
Friday, February 04, 2011
Sai Advantium, Hyderabad-based one of the leading players in the Contract Research And Manufacturing Services (CRAMS) segment, is planning to set up two formulation manufacturing facilities in Andhra Pradesh.
The planned-facilities are likely to come up in Hyderabad and Visakhapatnam in Andhra Pradesh. However, the company is yet to finalise locations for the same. Besides, the company has not yet finalised investments for the same. It is learnt that the Vizag facility will be exclusively for formulations. The company, which is currently doing formulation development for its various customers, is planning to get into formulation manufacturing in a big way with the opening of these two planned-facilities.
Speaking to Pharmabiz, Krishna Kanumuri, chief operating officer of Sai Advantium, said, “We want to provide integrated services to the customers under one roof. Currently we are doing research, biological and animal studies, formulation development and manufacturing.”
The company’s main focus, with five facilities of various nature is on regulated markets such as the US, the UK and Japan. The company said that it is more focused on high values and most of its customers are innovator companies from these regulated markets.
According to the company, it recovered quickly from the economic slowdown thanks to the good relation it maintained with customers and is registering 30 per cent annual growth for the last two years. It is expecting to register a growth rate of 30 per cent to 50 per cent in the next three years.
The company’s Research and Development (R&D) centre, which is coming up in the IKP Knowledge Park at Genome Valley in Hyderabad, will be completed by June this year. Currently the company is having manpower strength of 900 people and out of it 750 are scientists. It is planning to increase it to 1100 in a year’s time.:cheers:
February 15th, 2011, 06:26 AM
Foundation laid for aerospace units
15 Feb 2011 04:23:34 AM IST
HYDERABAD: The Aerospace and Precision Engineering SEZ at Adibatla on the outskirts of the city is expected to create employment for over 10,000 people, according to chief minister N Kiran Kumar Reddy.
Laying the foundation stone for three facilities being set up by the Tata group in a joint venture with global aircraft and defence majors here today, Reddy said, “Hyderabad is the best destination for investments in the aerospace and defence sectors. The state has three international airports offering better connectivity.:banana:
Besides, there are numerous infrastructure-related advantages and availability of manpower.”
He said the government was developing Chittoor and Anantapur, adjoining Chennai and Bangalore respectively, as industrial hubs.
“We have a long sea coast and are working on strategies to increase trade from the seaports in the state.”
Stating that Andhra Pradesh was the only state having an Aerospace SEZ in the country, minister for major industries, commerce and export promotion J Geeta Reddy said the facility was likely to directly employ over 3,000 in the next few years.
“There are over 150 small and medium enterprises (SMEs) in the city that are into various critical aerospace and defence-related component manufacturing.
Tata’s tie-up with three global firms today will boost production in the aerospace SEZ here,” she said.
Meanwhile, Tata Advanced Systems Ltd (TASL), part of the Tata group, said that it would invest about `550 crore to set up three facilities to manufacture aircraft structures, defence equipment and components for helicopters.
The three projects _ Tata Lockheed Martin Aerostructure, a joint venture between Tata Advanced Systems and Lockheed Martin; Tata Aerospace Systems, a JV between Tata Advanced Systems and Sikorsky Aircraft; and Nova Integrated Systems, a Tata enterprise _ will become fully operational in three years.
S Ramadorai, chairman of TASL, said these projects would place Hyderabad on the global aerospace map and help it evolve into a global aerospace and defence hub.
February 23rd, 2011, 05:42 PM
‘Hyderabad - Bulk drugs capital of India’ (http://expressbuzz.com/cities/hyderabad/%E2%80%98ap-bulk-drugs-capital-of-india%E2%80%99/250632.html)
HYDERABAD: Andhra Pradesh is recognised not only as the pharmaceutical hub but also as the bulk drugs capital of India, according to J Geeta Reddy, minister for major industries, sugar, commerce & export promotion.
“We have more than 266 bulk drug manufacturing companies in the state of which more than 90 per cent are small and medium enterprises.
AP also registered pharma exports worth `20,000 crore and the industry is growing at about 20 per cent,” Geeta Reddy said. Delivering the inaugural address at the eighth edition of BioAsia 2011 here on Tuesday, she said, “Several pharma companies are investing in the state.” According to Geeta Reddy, at least three companies have already announced plans to set up facilities in Hyderabad with investment of `3,000 crore.
Dr Roger Williams, CEO, US Pharmacopeia, in his keynote address said it was in the process of preparing standards for the Indian pharmaceutical industry. “These standards can be used by companies for exports, to seek regulatory approvals and to market the products overseas,” Williams said adding that Indian biologics with its scientific and manufacturing expertise can lead the world.
Meanwhile, Geeta Reddy unveiled the plaque for four facilites, Alexandria Innovation centre, Lonza R&D and manufacturing facility, Lepakshi Knowledge Hub Pvt Ltd and Transcell Gene Pvt Ltd.
Geeta Reddy also presented the Genome Valley Excellence award to Dr K Anji Reddy, founder & chairman of Dr Reddy’s Laboratories Ltd and Beijing Institute of Genomics, China for their independent contribution towards life sciences.
February 24th, 2011, 04:58 PM
Industrial growth records a dismal show (http://timesofindia.indiatimes.com/city/hyderabad/Industrial-growth-records-a-dismal-show/articleshow/7558513.cms)
HYDERABAD: Despite a series of proactive measures by successive governments to make Andhra Pradesh the most favoured destination for setting up new industries, the state lost three lakh jobs and an investment of Rs 1.12 lakh crore since the introduction of the `industrial policy' in 1991.
According to a fact-sheet of the industries department, as annexed to the socio-economic survey report for 2010-2011, only 3,012 of the 6,910 proposals for large-scale industries has gone into production. These proposals worth Rs 63,482 crore generated an employment of 4.55 lakh and another 1.25 lakh jobs are expected from the 505 proposals worth Rs 92,334 crore that are at various stages of implementation.
The saving grace has been the establishment of 11,000 micro, small and medium enterprises in the last 21 months (before September 2010) that provided employment to 1.81 lakh people and involved an investment of Rs 7,500 crore.
Similarly, the employment created in the 113 approved (74 are notified and 27 are operational) SEZs in the state was 82,606, against a projected direct employment generation of 8.5 lakh. Only Rs 12,000 crore of the Rs 1.05 lakh crore projected investments has been achieved so far.
The socio-economic survey report, which was tabled in the assembly on Wednesday, encapsulates the social and economic change in the state during 2010-11. Besides this, the report captures the main macro-economic aggregates and indicators of physical performance under various schemes/programmes implemented during the year by government departments.
The per capita income of Andhra Pradesh at current prices is estimated at Rs 60,224 in 2010-11 as against Rs 51,025 in 2009-10. While at constant prices, it has gone up from Rs 36,345 in 2009-10 to Rs 39,240 in 2010-11 registering a growth of 7.97%.
The overall exports from the state fell from Rs 77,605 crore in 2008-09 to Rs 73,143 crore in 2009-10, the report said. However, exports in the IT sector reached a new peak of Rs 33,482 crore in 2009-10. Computer software contributed 45 per cent of the total exports from the state while other major exports were drugs and pharmaceuticals, animal, marine and leather products, minerals and mineral products, handlooms and handicrafts.
As per advance estimates, the area under foodgrains during 2010-11 is expected to be 78 lakh hectares against 66.66 lakh hectares during 2009-10. The total production of foodgrains for 2010-11 is estimated at 190 lakh tonnes as against 156 lakh tonnes during 2009-10.
The report points out that the state economy as measured by growth in the Gross State Domestic Product (GSDP), on an average grew at 7.93% at constant prices during the first four years of the 11th five-year Plan period (2007-08 and 2010-11) was almost catching up with the all-India GDP growth of 8.16%, for the same period.
February 25th, 2011, 05:53 PM
Creamline Dairy plans Rs 10 cr tetra pack plant in Hyd (http://www.sify.com/finance/creamline-dairy-plans-rs-10-cr-tetra-pack-plant-in-hyd-news-equity-lczj5vcijag.html)
Creamline Dairy Products Limited, which retails its products under the Jersey™ brand, is planning to set up a tetra packaging plant in Hyderabad with an investment of Rs 10 crore by 2012.
Speaking to mediapersons at its silver jubilee celebrations here today, K Bhaskar Reddy, managing director, Creamline Dairy, said, "Tetra pack has one to three months shelflife. So, our focus would be more on cultured and long shelflife products."
The plant, work on which is likely to start this year, would have a production capacity of 100,000 litre per day, he said. The plant would come up on 10 acres.
Creamline has tied up with Tetra Pak, the processing and packaging major, to bring the UHT (ultra high temperature) technology to its plant. Around 50 per cent of the proposed investment would be raised through loans from financial institutions, he said.
February 28th, 2011, 12:36 PM
Andhra Pradesh manages to attract several public sector undertakings, including a refinery complex by HPCL, with a total estimated outlay of about Rs 50,000 crore,
The Chief Minister's Office in a statement mentioned that six PSUs have already submitted proposals to the State Government, indicating a total investment of about Rs 44,800 crore.
HPCL alone has a proposal to invest about Rs 40,000 crore in a refinery complex at Visakhapatnam as a part of the Petroleum, Chemicals and Petrochemical Investment Region (PCPIR).
BHEL and BEL have come up with a proposal to develop a solar photovoltaic modules unit in the FAB City with an outlay of Rs 2,000 crore. BDL has expressed interest to set up two units in the State, including a missile unit at Ibrahimpatnam in Ranga Reddy district and another in Anantapur with an outlay of Rs 500 crore each.
BDL has sought for 438 acres and 634 acres of land for these two projects. The Bangalore-based HAL has come forward to set up helicopter manufacturing unit with an outlay of Rs 625 crore and ECIL with a plan for electronic equipment making unit with an outlay of Rs 500-crore investment and BEL with a radar testing facility in Anantapur seeking 1,000 acres.
Earlier this year, the Prime Minister, Dr Manmohan Singh, laid the foundation stone for the Rs 6,000-crore NTPC-BHEL joint venture project to manufacture power equipment at Mannavaram in Chittoor district of the State, which has potential to create scores of ancillary units.
Referring to the recent State Investment Promotion Board meeting, the CMO mentioned that on one day, 25 investment proposals with total outlay of Rs 25,672 crore, which includes seven cement plants, three automotive units were cleared.
The investment policy of the Government would help attract more investments into the State as new units are offered power at lower tariffs.
April 22nd, 2011, 04:53 AM
Biocon to spend Rs 200 cr on R&D, manufacturing
Healthcare products manufacturer Biocon plans to spend $100 million in its efforts to develop insulin drugs over the next 3-4 years, said its chairperson and managing director Kiran Mazumdar Shaw.
Further, the company is also looking at investing around Rs 200 crore towards stepping up its manufacturing and research capabilities in the domestic market this fiscal, she said.
Of this, the company plans a capital expenditure of around Rs 100 crore towards the Research & Development centre in Bangalore, which would be operational in the next six months, said Shaw.
“The R&D centre would house 500-600 scientists. Apart from the capex, we would also be investing in drug development. For instance, we are hopeful to put in $100 million in the next 3-4 years towards research on insulin products,” she told reporters in Hyderabad on the sidelines of an international conference on patient safety.
The company has already invested Rs 50 crore in its Active Pharmaceutical Ingredients facility in Hyderabad. “We would further invest another Rs 50 crore in a couple of years,” she said.
The Bangalore-based company, which has a major thrust on diabetes drug development, feels that the increase in sales of human insulin due to the 18 per cent hike in the price allowed by the National Pharmaceutical Pricing Authority (NPPA), will be reflected in its balance sheets in the first quarter of current financial year. “Increase in insulin prices is a positive sign. It will have an impact on our balance sheet from this quarter (April-June),” she said, without giving details.
October 8th, 2011, 08:04 AM
“Akash”, world's cheapest tablet PC being manufactured in Hyderabad (http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/article2519486.ece)
QUAD Electronic Solutions is manufacturing these on behalf of Datawind
The world's cheapest tablet Aakash is being manufactured in Medchal.
A city-based company, QUAD Electronic Solutions, which has a two-acre campus in Medchal, on the outskirts of the State capital, is assembling the now world famous tablet PC using components imported from China and other South East Asian countries.
Costs Rs. 2,276
QUAD Electronic Solutions is manufacturing these seven-inch touch screen devices on behalf of Datawind, a company from the United Kingdom.
Aakash which costs Rs. 2,276 per unit is being further subsidised by the Government of India and is being offered at Rs. 1,200 to students.
The tablet PC which hogged the limelight across the world for being the cheapest tablet PC to be made, was unveiled by Union Human Resources Development (HRD) Minister Kapil Sibal recently.
To make it cheaper
“Our ultimate aim is to bring down the price of the tablet to $10. It is not impossible and we can do it. It is also high time that the Indian manufacturing companies stand-up and prove that we are capable of doing it,” says Raminder Singh Soin, Managing Director of QUAD Electronics.
One lakh units
QUAD, which stands for Quality Under Able Dynamics, is handling the task of manufacturing one lakh units of the cheapest tablet.
“Once we completely indigenise the product, we will be able to bring down the price further. The team from Datawind, which designed the product, has worked closely with us,” says Mr. Raminder Singh Soin. It all started in April this year when a technical team from Datawind visited the two-acre manufacturing facility of the company at Medchal.
The fabrication unit employs close to 1,000 technical workers, mostly youngsters with ITI diploma or class 12 qualifications. “We have 65 engineers, a majority of them from IITs, who train these youngsters. With over a decade of experience in this sector our infrastructure is best in the business. The Datawind officials liked what they saw,” Mr. Soin said.
700 units a day
At present, the fabrication unit of QUAD Electronics is capable of manufacturing 700 tablets a day. The company has plans to ramp up production to 1,500 tablets per day. “We wanted to prove that it is not just companies form China or South East Asia that produce quality and durable products. India has already made its mark in software and it is about time Indian manufacturers too did the same,” believes Mr. Soin.
October 8th, 2011, 01:53 PM
“Akash”, world's cheapest tablet PC being manufactured in Hyderabad (http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/article2519486.ece)
QUAD Electronic Solutions is manufacturing these on behalf of Datawind
Most of the components are imported from china and south east Asian countries.Its mere assembly a typical case of screw driver technology.we can take pride only if the indigenization of the components making the PC Tablet is atleat more than 60%.
October 8th, 2011, 03:54 PM
Most of the components are imported from china and south east Asian countries.Its mere assembly a typical case of screw driver technology.we can take pride only if the indigenization of the components making the PC Tablet is atleat more than 60%.
The article explicitly says it.. Now we donot have chip fabs nor do we manufacture LCD panels in India because frankly we are not ready yet but does it mean that we will never be able to do it?? Ever heard about "babysteps"
October 9th, 2011, 08:51 AM
The article explicitly says it.. Now we donot have chip fabs nor do we manufacture LCD panels in India because frankly we are not ready yet but does it mean that we will never be able to do it?? Ever heard about "babysteps"
Prodigist Well said.
Our Banker Rangajee forgot that, a plants/trees are growm from seed stage. It is obvious that, manufacturing has to follow assembling at later stages. Once the demand grows either in Akash tablet form or other form, automatically local manufacturing will grow, so that, assembling and selling becomes sustainable.
October 9th, 2011, 11:43 AM
Prodigist Well said.
Our Banker Rangajee forgot that, a plants/trees are growm from seed stage. It is obvious that, manufacturing has to follow assembling at later stages. Once the demand grows either in Akash tablet form or other form, automatically local manufacturing will grow, so that, assembling and selling becomes sustainable.
You've echoed what I was thinking
October 9th, 2011, 09:15 PM
Monarch plans manufacturing unit in Hyderabad (http://www.mydigitalfc.com/news/monarch-plans-manufacturing-unit-andhra-424)
Modular office furniture and seating solutions provider Monarch Ergonomics, which imports furniture and supplies to domestic clients, is planning to set up a manufacturing unit near Hyderabad. The unit will be a joint venture between Monarch and its principal partner, Merryfair of Malaysia, which currently supplies the company with workstations and office furniture.
Typically, it takes six weeks for the orders to be honoured due to the imports. Once the manufacturing unit is set up here, Monarch will be able to reduce the service time by two weeks, its managing director Kotesh Jagannathan told Financial Chronicle. “The manufacturing unit set up will be preceded with by launch of new range of products from Merryfair in the Indian markets,” he said.
The manufacturing unit will also help the company bring down the prices, as it would save the existing 28 per cent import duty on products. Monarch is now serving the domestic markets with a huge inventory. “We can now deliver 1,000 workstations with chairs in four weeks,” he said, adding that the company now has a huge warehouse on the outskirts of Hyderabad.
The Hyderabad-headquartered company also has operations in Ahmedabad, Bangalore, Chennai, Delhi, Kolkata, Kochi, Mumbai, Pune and Trivandrum and last year has clocked Rs 90 crore. “We anticipate Rs 250 crore revenues in three years on the back of new products and clients,” said Jagannathan, adding that the company has been growing around 40 per cent a year. Repeat sales also contribute significantly to growth as the average life of furniture is around seven years, he said.
Monarch has Axis Bank, ABN Amro, HSBC, Dr Reddy’s, ITC Park Sheraton, Vanenburg IT Park and others as its clients.
October 10th, 2011, 06:17 AM
That is what innovation and leadership is about. Collaborate and get the things done. Even Companies like Apple and Google become innovative. In fact the first design of the Apple's IPOD was developed in Hyderabad then they later sold that company.
Most of the components are imported from china and south east Asian countries.Its mere assembly a typical case of screw driver technology.we can take pride only if the indigenization of the components making the PC Tablet is atleat more than 60%.
October 14th, 2011, 04:44 PM
Reliance Digital, an all-in-one multi-brand electronics retail chain from Reliance Industries Limited (RIL) is set to launch four new Reliance Digital stores in four cities of the country. The quadruple launch will take place in Phoenix Market City Mall, Bangalore; Madinaguda, Hyderabad; Bhimavaram, Andhra Pradesh; and Avani Riverside Mall, Kolkata on 15th of October 2011.
Each of these four new Reliance Digital stores will occupy between 10,000 sq.ft. to 13,000 sq.ft. of space. Borne with qualities parallel to Reliance Digital pedigree, these new stores will offer customers an added chance of indulging in a wide assortment of electronic products and brands at affordable prices. The launch festivities will see Reliance Digital host exciting offers and deals for customers to make the most of this festive season.
October 20th, 2011, 06:34 PM
Hyderabad, Oct. 19:
Petroleum will drive growth in the country's key states such as Andhra Pradesh, Karnataka and Maharashtra in the next five years.
Over the past decade engineering and chemical industries have witnessed the highest growth and petroleum has emerged as the largest industry, according to a study by Knight Frank India.
The study on the country's manufacturing sector identified Andhra Pradesh among the five leaders with manufacturing capabilities. The others being Tamil Nadu, Gujarat, Maharastra and Karnataka.
The output of major manufacturing industries of these top five states would touch Rs 49.40 lakh crore by 2016 with a land requirement of 1.72 lakh acres. The scene for Andhra Pradesh would be Rs 5,99,500 crore from the present Rs 2,31,800 crore. It would also translate into a land requirement of 23,475 acres.
Metal and metal fabrication in Gujarat and automobile in Tamil Nadu will be the torch bearers in terms of the growth there. Knight Frank India with presence in seven metros, has done over 1,500 consultancy assignments in different sector.
The Executive Director Knight Frank India, Mr Prakrut Mehta, said analysis shows that Andhra Pradesh will witness a growth of 28 per cent CAGR during the next five years in the petroleum industry. It will surpass the 17 per cent growth of food processing industry.
The study indicates that the industrial landscape in Andhra Pradesh is poised to witness a transformation as the lead of food processing industry will be taken over by petroleum industry in 2016.
October 21st, 2011, 04:34 PM
The Indian Vision Institute has opened in Hyderabad, offering the opportunity for people to learn how to diagnose problems such as myopia and prescribe contact lenses (http://www.contactlenses.co.uk/).
It is hoped that the creation of the institute will provide the 100,000 optometrists that India needs.
More optometrists are needed as in urban areas there is just one to every 600,000 people and in rural areas this ratio jumps to one eye doctor per 1,000,000.
The $180 billion vision industry is currently dominated by Chinese, US and European manufacturers, but the creation of the Hyderabad institute aims to help Indian firms get involved in the multi-billion dollar sector.
An increase in the number of practicing optometrists in India would mean that people have access to cheaper solutions to their eye problems, as well as the benefit of accessing modern technology.
Dr Rajat N Agrawal recently developed a new device to help those who have gone blind through age-related macular degeneration to regain their sight.
October 22nd, 2011, 05:55 PM
Hyderabad, Oct 22:
Tanishq, the $1-billion revenue jewellery brand and part of Titan Industries Ltd of the Tata group, today announced the opening up of its fourth large format fully-owned showroom in Hyderabad, this being the company’s 130th in its network of stores.
On a rapid store expansion drive, Tanishq expects to close this current financial year with about 150 stores in all including 10 large format stores. The latter will come up in major cities of the country, according to Mr Sandeep Kulhalli, Vice- President-Retail and Marketing, Titan Industries Ltd.
The showroom is spread across 9,000 sq.ft. and provides the customers with a holistic jewellery retail experience. Buyers are beginning to experience the advantage of organised retail wherein they can walk into any store across the country and deal. This is of great advantage to buyers, he felt.
Volatility in gold price
Mr Kulhalli later told Business Line that the volatile price of gold in the last month has been a cause for concern. The prices have fluctuated and customers tend to get cautious. “But we do not see this impacting the overall business during the year,” he emphasised.
“Tanishq reported billion dollar revenues last financial year. Given the current price spiral, we are confident of sustaining the growth. The higher prices alone would be sufficient to boost the overall revenues,” he said.
Referring to the country’s jewellery market, which is estimated at Rs 1,25,000 crore a year, he said modern retail trade is gradually picking up. What is significant is that small and medium stores have begun to feel the heat due to consolidation in the marketplace. More and more buyers may opt for organised play, he felt.
The consolidation has set in and would take sometime to realise its impact. Jewellers are betting big on the festive season, when volumes normally swell. Akshaya Trithiya in April-May and Dhanteras before Diwali in October, these two days help generate big volumes. About 1 per cent business is generated on these days, he explained.
November 9th, 2011, 05:27 PM
To provide a boost to the pre-owned car market in the state
November 9, 2011: Mahindra First Choice Wheels (MFCW), India's largest multi-brand pre-owned car company inaugurated its first company owned SuperStore in Hyderabad. The Superstore is located at Kondapur Main Road, near HITEC City, Hyderabad's IT hub.
The new SuperStore was inaugurated by Mr. Rajeev Dubey, President (Group HR & After-Market) and Member of the Group Executive Board, Mahindra & Mahindra Ltd.
"We are delighted to open our first company-owned multi-brand SuperStore in Hyderabad. This is our second SuperStore in the South, after the Chennai outlet which was inaugurated recently. With this new SuperStore, we will have five outlets in the city with further plans to expand in Hyderabad and to open at least one in each of the key towns in Andhra Pradesh."
The Store will display a wide range of cars across segments and will ensure a great customer experience. It will offer an array of services under one roof, including purchase and sale of pre-owned cars, car finance and insurance, fitment of car accessories and assistance with paperwork and documentation, in a comfortable ambience.
The SuperStore format offers a new and refreshing sales experience for customers with its innovative and customer-centric approach. It will display vehicles right from the entry level to premium cars.
The very first Mahindra First Choice Wheels SuperStore was inaugurated in Mumbai in August 2007 and the company presently has a chain of ten such SuperStores across India, with a few more to be launched in the coming months. Apart from Hyderabad and Chennai, the company plans to open several more such SuperStores in the South. The company expects to have a national network of about 180 outlets, including franchisees by the end of this fiscal.
Andhra Pradesh market
The ratio of new to pre-owned cars in Andhra Pradesh is 1:1, while the pre-owned car market in Hyderabad stands at about 4,000 - 4,500 cars per month.
Mahindra FirstChoice Wheels plans to sell over 1,000 cars in Hyderabad by the end of this fiscal. Nationally, the company plans to sell over 40,000 cars which represents a growth of 40% over the previous year.
The size of the Indian pre-owned car market is estimated to be about 2.1 million vehicles per year. This market is growing at the rate of approximately 20 per cent annually, indicating great potential for organized players such as MFCW.
The Mahindra FirstChoice value proposition
Mahindra First Choice Wheels is the country's preferred pre-owned car mart and is India's only organized multi-brand player, with 140 outlets in over 70 towns across India. The company plans to expand this number to more than 350 outlets in the next three years. This implies that customers will soon be able to choose from a range of certified pre-owned cars throughout India, including the metros and tier-2 towns and cities.
Tremendous attention to detail is required to ensure that each pre-owned car meets a high level of quality. Before purchasing the car, a trained engineer thoroughly inspects the vehicle and also sees to it that all papers are in order. After purchase, every car is refurbished and undergoes an extensive 118 point quality check by a trained engineer, as part of the company's robust certification process. The objective behind the care and diligence exercised is to present the customer with a car in mint condition.
In short, buying a pre-owned car from Mahindra FirstChoice offers several advantages, including quality assurance, safety and a hassle-free driving experience.
Mahindra FirstChoice also offers 24x7 Road Side Assistance and warranty on certified pre-owned cars. The warranty, subject to specific terms and conditions, covers the important parts of the car. The 24x7 Road Side Assistance, subject to specific terms and conditions, assures the certified used car buyer that should the car break-down, he or she will be provided assistance. This warranty and road side assistance gives tremendous peace of mind to buyers.
Mahindra FirstChoice also has retail finance relationships with major banks and NBFCs in the country.
Mahindra FirstChoice also has a website - www.mahindrafirstchoice.com - which offers consumers the luxury of buying and selling pre-owned cars from the comfort of their own homes.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, vacation ownership, rural and semi-urban financial services, etc. Mahindra has a significant and growing presence amongst others, in the automotive industry, agribusiness, aerospace, automotive components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel and two wheelers.
A US $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 1,37,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. For four years in a row, Mahindra has featured in the Forbes Asia's Fab 50 List of the 50 best publicly traded companies in the Asia-Pacific regions. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India's Top 500 Companies.
In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure (CDP). In 2011, Mahindra acquired a majority stake in Korea's SsangYong Motor Company.
November 9th, 2011, 07:26 PM
Amazon to set up facility in Hyderabad (http://economictimes.indiatimes.com/tech/internet/amazon-to-set-up-facility-in-andhra-pradesh/articleshow/10670352.cms)
Source: Economic Times (http://economictimes.indiatimes.com/tech/internet/amazon-to-set-up-facility-in-andhra-pradesh/articleshow/10670352.cms)
HYDERABAD: The world largest Internet retailer Amazon will set up a facility here, which would provide employment to over 3,000 people, Andhra Pradesh government said today.
"Amazon will set up its operations in Hyderabad in a two lakh sq ft facility and provide employment to 3,300 people," Andhra Pradesh Minister for Information Technology Ponnala Lakshmaiah told reporters here, after a meeting with Amazon delegation led by Vice-president (Global Real Estate and Facilities) John Schoettler.
The facility would also create a lot of indirect employment here, the minister added.
However, the land that was supposed to be allotted to Amazon at Cyberabad here has run into legal trouble.
"But that will be sorted out soon," Lakshmaiah said. Amazon would invest Rs 500 crore over the next three years to expand its operations, the IT Minister said, adding that it would lead to creation of more jobs.
Replying to a query, Lakshmaiah maintained that the political turmoil in the state over the Telangana issue would not hinder investments into the state.
"Hyderabad has world-class infrastructure facilities and the government has classified IT sector into an emergency service. The arrival of Amazon is a good sign," he added.
February 17th, 2012, 07:08 PM
Hyderabad, Feb 17 (PTI) Yakult Danone India, a 50:50 JV between Danone of France and Yakult Honsha, Japan today launched its pro-biotic health drink Yakult in the city. The drink, which was introduced in India in 2007, and is presently available in Delhi NCR, Mumbai, Pune, Bangalore, Jaipur, Chandigarh and Punjab, will be available in retail stores in the city from February 19, the company said in a press release issued here. Speaking on the launch, Kiyoshi Oike, Managing Director, Yakult Danone India said awareness about probiotic foods is fast catching up in India and Yakult has seen wide consumer acceptance in the metros. "We have established a strong presence in North India and are now focusing on the Southern markets with the aim to educate and propagate the health benefits of probiotics among consumers. Innovation and information dissemination on probiotics has been fundamental to our growth across geographies making us global leaders," Oike said in the statement. Jochen Ebert, Managing Director, Danone Food and Beverages said the Yakult Danone alliance in India is a result of the teamwork of two global giants in the probiotic industry. "Faced with the formidable task of introducing a new market for probiotics in India, the JV company has established a strong probiotic category in a remarkably short span of time," Ebert said.
March 4th, 2012, 08:14 AM
Chief Minister N. Kiran Kumar Reddy on Saturday launched the “King-I Tablet PC” in the Indian market.
He congratulated R. Tenneti, marketing head, India, King-I Tab Trading Private limited, on the launch and presented the Tatblet PC to Government Whip T. Jayaprakash Reddy.
Mr. Tenneti said that they were the manufacturers and suppliers of a wide range of Tablet PCs that come in 25 different models and in four different sizes.
Mr. Tenneti has also informed that King-I Tab is ready to set up a manufacturing unit at Hyderabad.:cheers:
April 6th, 2012, 08:31 AM
HYDERABAD APRIL 5:
Integrated textiles and branded apparel player Arvind Ltd plans to open 55 new outlets across the country this fiscal.
The company opened its fifth exclusive brand outlet in Hyderabad, the 20th in Andhra Pradesh, on Thursday.
Mr P.S. Rajiv, Head-Retail, said with the 55 new outlets, the distribution network of the company will rise to 100 by this fiscal.
“By 2013-14, we plan to scale it up to 140, with focus on tier III cities. By that time, nearly 70 per cent of our outlets will be in tier III cities,” he told Business Line here.
Andhra Pradesh will continue to be a focus area for the company, with nine more outlets in the pipeline in the State this fiscal.
Each store set up on the franchise model involves an average investment of between Rs 60 lakh and Rs 1 crore.
Mr Rajiv said the company is sharpening focus on its customised garments business. “Customers can give their own designs and fittings, which will be sent to our factory in Gujarat. We deliver the product within ten days,” he said.
This concept was picking up in the domestic apparel market, he added. Arvind has licensing relationships with several international brands such as Arrow, Izod, GANT, US Polo and the recent addition Energie.
April 9th, 2012, 12:14 PM
Any idea what is the rate near Lahari Resorts or closer to patancheru. I want to buy land and build godowns. Also is there any kind of restriction for building godowns near outer ring road. Thanks in advance
April 9th, 2012, 04:44 PM
Check, it may be useful. This is a related info
June 7th, 2012, 04:40 AM
Prathista Industries, US varsity ink pact for tech transfer
HYDERABAD, JUNE 6:
The University of Tuskegee, Alabama, US and Prathista Industries have signed a memorandum of understanding (MoU) for transfer of technology in eco-friendly agri-based products.
A high-level scientific team from Tuskegee University, led by its President, Dr Gilbert L. Rochon, and Mr KVSS Sairam, CEO and President of the Hyderabad-based Prathista Industries signed the formal MoU here yesterday.
Prathista Industries has research facilities in Choutuppal on the outskirts of Hyderabad.
The company is into producing eco-friendly agri and veterinary products.
Later, speaking at the meeting organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), Dr Gilbert said that the university has distinctive strengths in the sciences, architecture, business, engineering and health.
He said agricultural industries account for more than $43 billion or about 22 per cent of the direct output of the Alabama economy.
Approximately 79 per cent of the US consumer food dollar goes to processing and marketing functions, with only 21 per cent going to farmers.
The team from Tuskegee University included Dr Gopal Reddy, Associate Dean for Research & Advanced Studies, Dr Shaik Jeelani, Vice-President for Research & Sponsored Programs. Dr Vijay Rangari, Associate Professor, Nanotechnology, presented various research activities at the university and possible areas of collaboration with Indian counterparts.
Mr Sairam of Prathista Industries, Mr Srinivas Ayyadevara, Vice-President, and Mr M.V. Rajeshwara Rao, Secretary General of FAPCCI also spoke.
June 9th, 2012, 08:52 PM
Mytrah Energy aims 500 MW installed capacity by March
HYDERABAD, JUNE 9:
Independent power producer Mytrah Energy Ltd is on course to increase the total installed capacity of the company's wind farm assets to 500 MW by March next.
“From about 250 MW of capacity installed across Maharashtra, Rajasthan, Gujarat and Andhra Pradesh, we will increase this to 400 MW over the next three to four months and this may go up past 700 to 800 mw by March 2013 if a favourable tariff structure is evolved in Andhra Pradesh,” Mr Ravi Kailas, Chairman and Chief Executive of Mytrah Energy, said.
In Andhra Pradesh, the company has an installed capacity of 60 MW of wind farms and is ready to develop another 200 MW by March next.
Of the expansion now underway, 150 MW capacity is at advanced stage.
Mr Kailas said the company has secured funding of about Rs 1,000 crore of equity and Rs 2,000-crore of debt from various lenders.
“This is adequate to see through the ongoing expansion plan,” he said.
In Andhra Pradesh, the spot purchase per unit is at over Rs 5 a unit. Therefore, it makes sense to have wind power plants considering their cost-saver advantage in the long-run.
The Central Electricity Regulatory Authority has approved a tariff of over Rs 5 per unit and States such as Maharashtra have revised twice with unit cost now at Rs 5.67.
India is adding about 3,000 MW of wind energy each year and there is potential to harness additional power from wind farms.
In Andhra Pradesh alone, there is potential to tap more than 10,000 MW, he said.
June 10th, 2012, 07:54 AM
Dacoits target industries, police clueless
Gangs of 15-20 persons beat up security guards, loot aluminium and copper materials
Here is a crime with a difference. The law-breakers come in groups of 15 or 20 persons in a truck, bash up the security guards, workers and tie them up at knife points and then load aluminium and copper tubes and wires into the truck and disappear. In five such attacks in the past one month, the hoodlums attacked five industries and scooted with aluminium and copper weighing 20,500 kg.
Rs. 3 lakh reward
The marauding criminals have so far managed to hoodwink the police and the worried industrialists have announced a cash prize of Rs. 3 lakh for any information leading to the busting of this industry.
D.R. Metals at Gaganpahad, Tirupati Metals at Katedan, SVS Wires at Jeedimetla, Cubex Tubings at Patancheru and Vartika Wire at IDA Nacharam were the targets of these attacks and in all the brigands escaped with stolen property worth Rs.1 crore, FAPCCI senior vice-president, Devendra Surana told a press conference here on Saturday. The intruders are believed to be scouting the premises during daytime and attack it in the early hours.
What is worrying the industrialists is the violence unleashed by the dacoits on workers and security guards. Wielding knives and firearms sometimes, they threaten and tie up the workers who are held hostage till the aluminium or copper bundles were loaded into their vehicle.
Those who tried to resist were beaten up so badly that some suffered fractures too, said Vaibhav Mutha of Vartika Wire. He said the offenders escaped with 9,000 kg of copper wire and enamelled copper wire worth over Rs.60 lakh from his company.
Mr. Surana said a spate of such incidents was causing problems in delivery of material to customers. “The situation is really grim as most industries are already facing several problems. We request the government to initiate action to prevent such incidents,” he said.
He suspected that the offenders could be melting the stolen copper and aluminium before selling it. The possibility of insiders' collusion also cannot be ruled out.
June 15th, 2012, 07:15 PM
Non-Andhra Pradesh microfinance institutions exhibiting signs of recovery: Microfinance Insitutions Network
HYDERABAD: Two years after the Andhra Pradesh microfinance crisis brought the microfinance sector to its knees, microfinance institutions (MFIs), especially those based outside Andhra Pradesh are showing signs of recovery, a report put out by Microfinance Insitutions Network (MFIN), a self-regulatory body of 46 RBI registered NBFC-MFIs, has claimed.
This, MFIN said, was despite the pan-India MFI borrower base shrinking 17% to around 22.77 million borrowers in 2011-12 from over 27.5 million borrowers in 2010-11, total loan disbursements falling 38% to around Rs 20,000 crore during 2011-12 from over Rs 32,629 crore in 2010-11 and gross loan portfolio nationally falling 15% to Rs 15400 crore from Rs 18157 crore.
MFIs outside AP are continuing to show steady growth both in terms of gross loan portfolio, which has increased by 22%, and disbursements that went up 5% during 2011-12, said MFIN MicroMeter, the first edition of MFIN's quarterly report, adding that write-offs by non-AP MFIs also came down by 45% during the period.
The report also claimed that repayments made by clients outside AP were steady at around 99% despite operational issues being faced by all MFIs, demonstrating resilience of the MFI sector and credit worthiness of its clients.
Commenting on the report, MFIN CEO Alok Prasad said that the data signaled a positive outlook for NBFC-MFIs. "While the pan-India indicators present a fairly negative picture of the state of the industry, a closer look at the data reveals trends that are promising. Investor confidence has grown with asset sales transactions doubling to Rs 3000 crore in the last fiscal even as 99% client repayment rates outside AP is the strongest sign of inherent strength of the industry. The future can only get better," Prasad said.
July 2nd, 2012, 12:34 PM
Billionaire Rinehart Willing To Buy Back GVK Shares (http://www.bloomberg.com/news/2012-07-01/billionaire-rinehart-says-she-s-willing-to-buy-back-gvk-shares.html)
Australian billionaire Gina Rinehart, who sold a majority stake in her Hancock Prospecting Pty’s coal projects to India’s GVK Group last year, said she is happy to buy back shares in the venture if it needs funds.
“I have told GVK I would love to be in the project more,” Rinehart told reporters on a visit to the southern city of Hyderabad, where she meet officials of the group.
GVK would prefer to sell stakes to companies it plans to supply coal to, she said. “They would like to bring in the market. So think I just need to wait.”
The Hyderabad-based company plans to raise $3.5 billion by December by selling stakes in a unit as well as in its Australian mines and rail and port projects in Queensland state, G.V. Sanjay Reddy, the vice chairman of GVK, said in June.
Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.
Revenue from the joint venture with GVK is important for Australia, Rinehart said.
Australia last month halted a federal environmental review of the $10 billion coal mine in Queensland’s Galilee Basin because of a disagreement with the state government.
GVK expects environmental approvals from Australia for the project to come through this quarter, Reddy told reporters in Hyderabad. The project is set to close in the first quarter of 2013, he said.
Authorities in Canberra halted the review of the project, which includes a thermal coal mine, a 495-kilometer (308-mile) railway line and expansion at the port of Abbot Point, on concern unchecked development of ports will damage the Great Barrier Reef.
GVK has provided all information to win environmental approval and expects to get the mining lease and all environmental clearances by September, Reddy said previously.
Shares (GVKP) of GVK Power & Infrastructure Ltd., the group’s listed unit, closed at 15.35 rupees on June 29, up 4.1 percent.
July 3rd, 2012, 08:21 AM
Pressmart launches tablet-based education solution (http://zeenews.india.com/business/news/technology/pressmart-launches-tablet-based-education-solution_54947.html)
Hyderabad: Online publishing provider Pressmart Monday announced the launch of MOCA (Mobile Learning Classroom Application), a paperless, tablet based end-to-end solution for schools.
The Hyderabad-based firm announced deployment of its application by La Salle Green Hills (LSGH), a school in Manila, Philippines. It also plans pilot projects in India, Singapore, Malaysia and Australia in the coming months.
MOCA allows school going children to access text books and worksheets in a digitized format in an Android-based tablet. The solution costs $100 for a year's education.
In Manila, where currently 80 per cent of the media are Pressmart clients, around 17 schools have adopted the service.
V. K. Torpunuri, chairman, Pressmart, told media persons that MOCA is based on a private cloud-based interactive education system aimed at making learning an interesting, enjoyable and collaborative experience on mobile devices.
The e-tablet initiative involving Pressmart MOCA consists of a five-phase implementation. The first, on-going, phase involves merely replacing textbooks with the tablet devices. MOCA will be sold in India at the price range of Rs. 4000 - Rs. 7000 for institutions.
Raghavan Madhabhushi, chief executive officer, Pressmart, said the firm plans to invest $1 million this academic year to develop the system in other markets, and to add 150 persons to the design team to expand the e-education service.
Pressmart also plans to launch solutions for life sciences and the healthcare industry, as well as more products to the digitization business, addressing smaller publishing houses.
The newer products are expected to contribute 50 per cent of the revenues in the coming one year. The company, however, declined to disclose its total earnings.
More than 600 publishers in 33 languages from 61 countries are currently using Pressmart's cutting-edge cloud based publishing technology.
July 3rd, 2012, 08:22 AM
GVK's $10 bn coal project likely to get environment clearance (http://zeenews.india.com/business/news/companies/gvks-10-bn-coal-project-likely-to-get-environment-clearance_54921.html)
Hyderabad: GVK’s USD 10 billion-Alpha Coal Project is expected to get environmental clearance from Australian Government by the end of this month or early August, the Chairperson of Hancock Prospecting Group Pty Ltd, Georgina Hope Rinehart.
GVK paid USD 1.26 billion to buy the coal assets and related logistics infrastructure in Australia from Hancock through a group company GVK Coal Developers (Singapore) last year.
The Hancock project which is said to be the biggest integrated coal project includes three coal projects, a rail link and a port project.
The Australian Federal government last month raised some objections on the project even after the Queensland (state) government gave its approval last month.
The Federal government's concerns are on the likely impact the project could have on the region, especially on the Great Barrier Reef.
"It is normal after the state government environmental approval to get federally that?s the usual procedure. We are hopeful that by the end of this month or may be early August we may see that important approval," Rinehart told a press conference here last evening after the first ever board meeting of the Australian project.
"I have not seen in my lifetime any project getting held up in the approval process in Australia. This project with GVK is important for Australia and particularly for Queensland. It means some revenue and jobs for Australia. Particularly, Australia needs the revenue," she added.
GVK has invested in Hancock through family-owned entities with members of the family as core investors. GVKPIL, the group?s listed entity, has about 10 percent holding in the entire deal in lieu of assured coal supplies to its thermal power assets and also the guarantees extended by it to the debt the group would raise to fund the mega deal.
Replying to a query, Rinehart said she would be interested to raise her state in the project from the current 21 percent.
GV Sanjay Reddy, Vice Chairman of GVK Power and Infrastructure, who was present during the press meet said the financial closure for the USD 10 billion project is expected to complete by March next year.
“We expect to tie up finances for the project by first quarter of the next calendar year," Reddy said.
"For typical coal mine like this, we are targeting 30 percent equity (and 70 percent debt). For railway and port, both are dependent on the cash flow you receive. So there we may go for between 15 and 20 percent equity. Out of the total cost of USD 10 billion, banks will fund around USD 7.5 billion to USD 8 billion," he added.
July 3rd, 2012, 01:12 PM
Mahindra Satyam appoints Edward Pretty as chairman for Australia, New Zealand (http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/mahindra-satyam-appoints-edward-pretty-as-chairman-for-australia-new-zealand/articleshow/14634075.cms)
HYDERABAD: IT company Mahindra Satyam today said it has appointed Edward 'Ted' Pretty as the Chairman for its Australian and New Zealand operations.
Pretty will also support the company's Asian region for telecom business expansion, Mahindra Satyam said in a statement.
He will drive the strategy for Mahindra Satyam and Tech Mahindra across network engineering and operations, business intelligence and analytics, cloud, mobility and security, the company added.
"Ted joins us at a time when the industry is poised to transform. We look forward to benefit from his experience, leadership," Mahindra Satyam Senior Vice President Rohit Gandhi said in the statement.
Prior to joining Mahindra Satyam, Ted has held senior positions in firms such as Optus, Telstra, Fujitsu, Visy and RP Data.
He is currently non-executive director of data centre provider NextDC and Chairman of online and digital media adviser CMB Capital and SiteTour, the statement said.
"It will be my objective to ensure that our clients see and experience the business benefits that Mahindra Satyam - Tech Mahindra technology and processes can deliver across the IT&T, financial services, industrial, e-Government and health sectors in particular," Ted said.
Mahindra Satyam is part of the USD 15.4 billion Mahindra Group which employs more than 144,000 people in over 100 countries.
The company has IT solutions development and delivery centres Australia as well.
July 4th, 2012, 12:20 PM
Gameshastra sells studio to Disney Interactive Media Group (http://www.vccircle.com/news/media-entertainment/2012/07/03/gameshastra-sells-studio-disney-interactive-media-group)
The game studio provided the back-end of the popular Disney game called Gardens of Time on Facebook.
Hyderabad-based gaming company Gameshastra has sold one of its studios to Disney Interactive Media Group. The studio was providing back-end support for the popular Disney game, Gardens of Time, on Facebook. Although the financials of the deal were not available as of now, the deal was closed in the second half of May this year.
In Gardens of Time, the player uses a time machine to locate hidden objects throughout history and protect the world from evil forces. It was conceptualised and developed by Gameshastra and presented to Disney for approval in early 2011. Once approved, the game was developed and delivered to Disney and it went on to become the top game on Facebook, according to Gameshastra.
Although Disney owned the game, one of Gameshastra’s studios was still handling the development work for the game, like providing upgrades for Playdom, the social games product group of Disney Interactive Media Group. Hence, Disney approached the company and acquired that studio, which had started its operations in the first half of 2011 in Hyderabad and had a team size of 45.
At the time of acquisition, the studio was solely focused on Gardens of Time. Post-acquisition, the studio is no longer a part of Gameshastra and instead reports to Playdom, a wholly owned subsidiary of The Walt Disney Company and part of the Disney Interactive Media Group. This means the team is not part of Indiagames, the digital gaming unit of UTV, which is controlled by Disney. Indiagames is one of the top digital gaming firms in the country.
Gameshastra continues to manage a few more studios that develop games on a third-party basis for Sony, Disney, Activision and Ubisoft as well as on its own. Some of the working titles include Bee Wars, Cart Kings and Don 2. The company, founded in 2006, has Prakash Ahuja as its CEO. It initially offered gaming services to international studios, but over a period of time, it also started developing its own IP. The company claims to be profitable as of now.
July 4th, 2012, 12:34 PM
Dr Reddy’s posts fastest growth to cross $2b mark (http://wrd.mydigitalfc.com/news/dr-reddy%E2%80%99s-posts-fastest-growth-cross-2b-mark-403)
Over-the-counter drug portfolio grows to 10% of total business
Dr Reddy’s Laboratories may have backed out of its earlier projection to tap the $3 billion revenue mark by 2013, but now the drugmaker is betting big on its growth story and says it is the fastest company to cross the $2 billion revenue within four years of clinching the $1 billion mark.
Expecting a positive outlook for the next year as well, with the North American markets and emerging markets aiding the growth, chairman K Anji Reddy in the annual report said, aided by the launch of Olanzapine, strong growth in biosimilars segment and the Japan foray saw the company notching a 30 per cent growth in revenues (Rs 9,670 crore) and a 45 per cent its net profit (Rs 1,530 crore) in FY12
Going forward, the drugmaker hopes in the next five years ‘pharmerging’ countries that include the likes of China, Brazil, India, Russia, Mexico, Uk*a*raine Turkey, Poland, Ve*n*e*zuela and South Africa, Egypt could contribute th*e largest growth.
It is estimated that these countries together are expected to take two-thirds of the incremental generics revenues in the next five years with the generics spending expected to be around $400 billion by 2015.
Interestingly, the over-the-counter drug portfolio for the company grew significantly at 10 per cent of the total business, at $200 million, growing by 75 per cent over the previous year.
While Biosimilars continue to take a portion of the company’s future growth story, Dr Reddy’s also hopes could soon enter in developed markets, apart from the presence in 13 emerging markets it now has. There are four products in the kitty with filings in 20 new countries. Meanwhile, their tie-up with Fuji film and the eventual foray into the Japan market will have the products coming in the next three to four years.
The chairman said Japan is the second largest pharmaceutical market with the low generics penetration of around 28 per cent as against 70 per cent in the US. Also limited competition generic launches had, which the company thinks could help them achieve a sustainable growth, contributed 10 per cent of total revenues in FY12, would continue to be the focus.
July 4th, 2012, 03:12 PM
Dr Reddy’s posts fastest growth to cross $2b mark (http://wrd.mydigitalfc.com/news/dr-reddy%E2%80%99s-posts-fastest-growth-cross-2b-mark-403)
wow awesome :cheers::banana::)
July 4th, 2012, 07:28 PM
NCL Industries MD wins HMA award (http://www.thehindubusinessline.com/companies/article3585467.ece)
HYDERABAD, JUNE 29:
Mr K. Ravi, Managing Director of NCL Industries, has been selected for the ‘Entrepreneur of the year award 2012’, by the Hyderabad Management Association (HMA). He was presented with the award at the HMA Annual awards event by the State Minister for Civil Supplies, Mr D. Sridhar Babu.
NCL Industries is into manufacture of cement, ready mix concrete, cement particle boards and prefab structures as well as hydro power.
Mr D Shivakumar, Senior Vice-President and Country Head, Nokia Corporation, India, Middle East & Africa, was the Guest of Honour at the function.
July 12th, 2012, 07:14 PM
Mahindra Satyam in talks to buy European aerospace engineering firm (http://economictimes.indiatimes.com/tech/ites/mahindra-satyam-in-talks-to-buy-european-aerospace-engineering-firm/articleshow/14830733.cms)
HYDERABAD: IT services provider Mahindra Satyam is in discussions to acquire an aerospace engineering firm in Europe. The acquisition is part of a larger plan by the company to improve its offerings in engineering services, and in the healthcare and financial services verticals.
Satyam is likely to finalise the transaction in a couple of months, said two senior company officials, without providing more details. Currently, around 4,500 employees provide engineering services, of whom 1,000 specialise in aerospace engineering.
Mahindra Satyam CEO CP Gurnani responded to an ET query about the potential acquisition, saying it was "totally speculative."
"We are in the market for acquisitions, but we have nothing on the plate right now," he said.
An aerospace acquisition will also help Mahindra & Mahindra to strengthen its foothold in aeronautics. The engineering services division of IT companies help aircraft manufacturers design aircraft using embedded software systems that ensure a high degree of accuracy. Mahindra Satyam and companies such as Infotech Enterprises and Tata Consultancy have in particular developed expertise in this area. Software industry grouping Nasscom estimates the annual business potential from engineering services at $4 billion.
"We (Mahindra Satyam) intend to complete two acquisitions by the end of the year. We would also be looking at BPO businesses," said a company official. He said leaders from various business units have been asked to submit proposals so management can evaluate them.
Mahindra Satyam could spend close to Rs 800 crore on these two acquisitions, he added. The company had a cash balance of a little over Rs 3,000 crore at the end of March.
"Airbus and Boeing are coming out with new aircraft-the A 320 Neo and 737Max. There are also manufacturers such as Pratt and Whitney that are launching new models every year. These programmes run for years and there is opportunity waiting to be tapped even in high-precision designing and numerical control tools for component manufacturers," said K Ashok Kumar, an independent consultant and former chief technology officer at Infotech Enterprises.
July 12th, 2012, 07:18 PM
Hyderabad Industries quoting ex-dividend (http://www.moneycontrol.com/news/buzzing-stocks/hyderabad-industries-quoting-ex-dividend_729286.html)
Hyderabad Industries board of directors in their meeting held on May 01, 2012 has recommended a final dividend at 125% being an amount equivalent to Rs. 12.50 per share of Rs 10 each.
Hyderabad Industries board of directors in their meeting held on May 01, 2012 has recommended a final dividend at 125% being an amount equivalent to Rs. 12.50 per share of Rs 10 each, in addition to the interim dividend at 60% being an amount equivalent to Rs 6 per share declared on January 24, 2012 and already paid by the Company for the financial year 2011-12, for the consideration and approval of Shareholders at the ensuing 65th Annual General Meeting of the Company.
Hyderabad Industries touched an intraday high of Rs 415.10 and an intraday low of Rs 407.55. At 11:01 hrs the share was quoting at Rs 411.80, down Rs 12.75, or 3.00%.
It was trading with volumes of 1,908 shares. In the previous trading session, the share closed down 0.68% or Rs 2.90 at Rs 424.55.
The company's trailing 12-month (TTM) EPS was at Rs 67.82 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 6.07. The latest book value of the company is Rs 452.83 per share. At current value, the price-to-book value of the company was 0.91. The dividend yield of the company was 4.48%.
July 12th, 2012, 07:22 PM
Keste sees $2-mn revenues from Hyd centre (http://www.business-standard.com/india/news/keste-sees-2-mn-revenueshyd-centre/480246/)
Keste, a Texas-based provider of Oracle software solutions and development company, expects revenues from its India development centre (IDC) in Hyderabad to exceed $2 million (approximately Rs 11 crore) this year, as against $1.5 million in 2011, according to president and chief executive Howard Moore.
“The growth will be primarily driven by the increasing IT work being outsourced from the US to India,” he told mediapersons here on Thursday.
To develop in-country and regional business, the company is planning to invest $2.5 million to expand its existing facility and grow the current headcount of 75 at the IDC to 150-odd through 2013. Keste houses just over 140 employees at its US facility.
“We service 100 customers globally, including in West Asia and South Asia where the market is actually emerging, even as we continue to serve the US as well. While we currently have 10 customers in India, we have an internal target of having a clientele base of 20 in India within a year,” said Sri Mereddy, director, IDC.
Stating that the financially-independent, internally-fuelled company had a controlled growth, Keste’s chief financial officer Kenneth J Judd said that the company’s global revenues stood at $27 million last year and was expected to have a little bit of slower growth in revenues at $30 million this year.
“While telecom and hitech account for 50 per cent of our revenues, the remaining is evenly distributed among industrial, manufacturing, life sciences, energy and retail verticals,” he said.
July 14th, 2012, 11:58 AM
Hyderabad based Prime Hospitals introduces first ever electronic balloon based ablation for cardiac arrhythmias (http://pharmabiz.com/NewsDetails.aspx?aid=70054&sid=1)
The Hyderabad based Prime Hospitals has introduced first ever electronic balloon based ablation for cardiac arrhythmias (Ventricular Premature Contractions) in patients.
The latest treatment therapy is introduced to treat patients suffering from Unifocal Ventricular premature contractions (PVCs). This is performed by doing a 3D mapping of the heart and localizing the focus from where the abnormal heart beat is originating. Once the focused area of aberration in the heart is identified, it can be burnt utilizing controlled radio-frequency energy.
A team led by cardiac specialist, Dr JayakeerthiRao, performed an electrophysiology study utilizing 3D mapping technology before treating a patient Mohammad Amjad Ali who was suffering from severe PVC problem. Under fluoroscopic guidance, a wire was passed into the pulmonary artery and using this for support, the EnsiteArray balloon was passed over it and positioned in the area of interest which was the outflow portion of the right ventricle from where the PVCs were arising as per the ECG evidence. A7Fr4mm ablation catheter was also introduced into the RVOT near the balloon and a 3D map was created. Upon identifying the appropriate site a burn is directed at the location and within seconds of ablation the PVC disappears.
It is believed that if the entire population is monitored for 24 hours at least 50 per cent would have been diagnosed with PVC at some point of time. But doctors say less than two per cent have more than 50 PVCs per 24 hours. If people suffering from severe PVC problems are not treated in time it may lead to severe stroke or heart attacks.
“The new technology used for treating PVCs uses a similar kind technique as that is analogous to the GPRS system. This new method observes the path of the heart beat to track the source of arrhythmias. There are 64 electrodes on the balloon which will be observing impulses from 3000 points in the heart. Before burning the source of problem, the balloon tracks the exact point where the energy is to be applied,” explained Dr Raghu, spokes person from Prime Hospital.
There is also a risk in this kind of treatment. If there is any error in identifying the source of problem then burning a different spot in the heart may lead to heart disorders and it may even lead to heart attacks. But on the positive side the electrophysiological study and radio frequency ablation has the potential for single shot cure. With improved mapping techniques the risk is can significantly reduced and the procedural success can be very high.
According to sources, the cost of the entire treatment ranges from Rs. 3 to Rs. 3.5 lakhs. The best part in this kind of treatment is that, the patient can have a speedy recovery and can be discharged within three days.
July 16th, 2012, 04:50 PM
Ramky to set up industrial park in AP
HYDERABAD, JUL 15:
Ramky Group is setting up a multiproduct industrial park in Nalgonda district of Andhra Pradesh with an investment of Rs 1,000 crore, a top official of the city based infrastructure major said.
“It is similar to Pharma city (in Visakhapatnam). However, it will have multi products instead of one single product. It required an investment of Rs 1,000 crore and the project has the capacity to attract investments to the tune of Rs 30,000 crore,” Ramky MD, Mr Goutham Reddy, told PTI.
“We may raise Rs 90 crore as debt and most of the investment will come from internal accruals,” he added.
Currently the project proposal is with the Ministry of Environment and Forest for clearance, Mr Reddy said.
Ramky Group signed an MoU with Government of Andhra Pradesh during Partnership summit held earlier this year to set up Ramky Multiproduct Industrial Park.
According to the report submitted to the MoEF, the total land of 4,000 acres has been proposed to develop the industrial park in two phased (of 2,000 acres each).
Industrial segments like pharma and bio—tech industry, textile and garmenting, non classified mixed industries, knowledge and speciality chemicals, food processing and 300 MW (multi fuel) thermal power plant are proposed in the park.
Around 30 per cent of total area will be earmarked including 20 percent for industrial segments and 10 per cent for residential, commercial and roads including boundary of the park.
The MoEF ordered the company to conduct a public hearing and submit Environmental Management Plan.
“Public hearing to be conducted for the project as per provisions of Environmental Impact Assessment Notification, 2006 and the issues raised by the public should be addressed in the Environmental Management Plan,” the Ministry said in its comments.
Mr Reddy said it is expected to complete the phase—I in 2—3 years and public hearing will be conducted in three months’ time as consultants are working on that.
July 17th, 2012, 08:47 AM
NCC promoters up stake to avert takeover bids (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/construction/ncc-promoters-up-stake-to-avert-takeover-bids/articleshow/15012065.cms)
HYDERABAD: The founders of NCC Ltd are raising their shareholding in the construction company, fearful of a hostile takeover attempt after the events surrounding another Hyderabad-based outfit IVRCL.
In three months, entities connected to the promoters of NCC have raised their holding in the company by 0.7% to 20.26% and plan to take it further to just under 25% so that they do not hit the open-offer threshold.
"The IVRCL-Essel Infra episode is one of the reasons. The second reason is that the market is down and the share price is low. We know the potential of the company and this is the time to increase our shareholding," executive director AGK Raju told ET.
In March and April, media baron Subhash Chandra's Essel group accumulated shares in IVRCL and openly expressed an interest in the infrastructure company. After back and forth exchanges, mainly through media statements, the Essel group said it would hold the line on its shareholding at 12.3%, topping the 11.2% ownership of founder Sudhir Reddy and his family.
Even though the promoters of NCC believe that a hostile acquisition of a construction company is not easy to pull off, Raju said he does not want to take chances. "It can be a headache. So, consolidation of stake is good."
NCC, founded in 1978 by AVS Raju, is now run by his sons. Its sales exceed 6,500 crore, but the market value of the company is only around 1,000 crore. Its share price has more than halved in the past 12 months to 40.
NCC is backed by private equity firms Blackstone and Warhol, which own nearly 10% each in the company, as well as investor Rakesh Jhunjhunwala. In late June, Jhunjhunwala's family bought a 0.29% stake in NCC in the open market to increase its holding to 7.98%.
The ownership level of the Raju family has halved over seven years as the company raised 1,475 crore by issuing fresh equity, said MV Srinivasa Murthy, NCC's senior vice-president in charge of legal affairs.
Nitin A Khandkar, founder of an institutional research company, said it makes "eminent sense" for the promoters to take the creeping acquisition route to consolidate their holding, particularly at a time when the company's financial performance has worsened.
In spite of a marginal revenue growth in 2011-12, the company's profits have fallen and the quality of earnings has declined with the rise of other income, he said.
July 25th, 2012, 07:23 AM
Hyderabad Industries can touch Rs 600: SP Tulsian
Tulsian told CNBC-TV18, "If you see the Q1 results of Hyderabad Industries there has been topline growth and margin expansion. For whole of FY12 the company had a PAT margin of close to about 7% on the topline of close to about Rs 860 crore and if you go by the present Q1 results, they have posted a topline of Rs 330 crore with PAT of Rs 33 crore. So that indicates PAT margin has improved from 7% to 10%."
He further added, "We have seen the volume growth also taking place by about maybe 20% plus on a comparable quarter of the previous year and for Q1 the EPS has resulted at about Rs 44. But I am not taking the same extrapolation, taking this Rs 45 as a benchmark that FY13 can result into an EPS of Rs 160-170 or Rs 180. On a conservative basis I have taken that to be anywhere between Rs 120-125 and the EPS which was at about Rs 81 for whole of FY12 and now EPS of Rs 44 for Q1."
"The company declared a dividend of Rs 18.50. So I am hopeful that this time the dividend payout is also likely to improve for FY13, which would be anywhere between 22-24 if you take the same dividend payout ratio of 25% to be maintained by the company which can also result into a yield of about 5% on the stock."
"So overall considering their strong presence in the roofing business for which they are providing the total solutions to the building, industrial structures and all that again this stock looks quite undervalued going by the expected EPS close to about Rs 125, ruling at a PE multiple of less than 4 and even the book value is close to about Rs 500. So taking all this into consideration I am expecting a price of Rs 600 in 12 months with a very minimal downside from here."
July 27th, 2012, 04:56 AM
HIL to launch green building products
HYDERABAD, JULY 25:
Roofing and building solutions provider Hyderabad Industries Limited is planning to come out with new green building products soon.
The company, part of the C.K. Birla Group, sees new opportunities in the green building sector. “We expect the new products to push our growth. We are backing this up with expansion of our distribution network,” Mr Abhaya Shankar, managing director of the company, said. The company is setting up distribution outlets in small cities and towns for market consolidation. As part of its diversification, it recently commissioned a 2.5 MW wind power unit in Rajasthan, taking its total installed capacity to 7.35 MW.
July 31st, 2012, 04:08 AM
IVRCL gets court nod for merger scheme
HYDERABAD, JULY 30:
The IVRCL Group firms have secured Andhra Pradesh High Court nod for composite scheme of merger.
The Court has sanctioned the Composite Scheme of Arrangement between IVRCL Ltd and IVRCL Assets & Holdings Ltd and two subsidiary companies of IVRCL — RIHIM Developers Pvt Ltd and IVRCL TLT Pvt Ltd.
This will be binding on their respective shareholders and secured creditors and employees of the company and all concerned. The effective date of the scheme is April 1, 2011.
The Chief Financial Officer of IVRCL, Mr R. Balarami Reddy, told Business Line that this move will help consolidate the infrastructure and construction business while providing the necessary liquidity for IVRCL AH shareholders post-merger. Shares of IVRCL AH will not be traded henceforth.
IVRCL shall issue five equity shares for every six equity shares held by the shareholders of IVRCL AH as on a record date to be fixed in consultation with the stock exchanges.
Consequent to the scheme, the real estate business of IVRCL AH shall stand demerged into a separate company RIHIM, which will be a 100 per cent subsidiary of IVRCL and the remaining undertaking of IVRCL AH stands merged with IVRCL.
IVRCL AH stands dissolved without being wound up. The Transmission Line Tower unit of IVRCL stands demerged as a separate 100 per cent subsidiary of IVRCL. The shares of Hyderabad-based infrastructure company IVRCL, which was in news earlier this year with the Subhash Chandra-promoted Essel group picking up stake, closed the day’s trade at Rs 44.75 up 5.67 per cent.
August 9th, 2012, 08:34 PM
Nagarjuna Construction net slips to Rs 20 cr in Q1, revenue up 12% (http://www.thehindubusinessline.com/companies/article3746376.ece)
HYDERABAD, AUG. 9:
Nagarjuna Construction Company Ltd has recorded a lower net profit of Rs 20.10 crore for the first quarter ended June 30, 2012, as against Rs 31.81 crore it logged in the corresponding quarter last year. Its profitability was impacted by high interest costs, which put pressure on margins.
The turnover of the Hyderabad-based infrastructure company, on a consolidated basis, was up 12 per cent at Rs 1,816.52 crore against Rs 1,625.15 crore in the quarter under review.
The company's earnings before interest, taxes, depreciation and amortisation stood at Rs 204.14 crore for the first quarter as against Rs 343.08 crore in the same period last year. It posted a lower EPS of Rs 0.79 in the first quarter as against Rs 1.22 in the corresponding quarter of the previous year.
On a standalone basis, the company achieved a turnover of Rs 1,495.55 crore (including other income) in the first quarter this year as against Rs 1,166.45 crore in the corresponding quarter of the previous year, registering a growth of 28 per cent.
The net profit for the first quarter was lower at Rs 16.61 crore as against Rs 23.28 crore reported during the same period of the previous year.
During the first quarter this year, the company has so far secured orders aggregating Rs 2,001 crore, taking the order book to Rs 20,520 crore as at the end of the quarter.
The company’s shares closed the day at Rs 39.15, up 1.69 per cent.
August 13th, 2012, 02:20 PM
Mediciti Group appoints former AAPI president Dr. C. Ventata Ram as new CEO (http://www.indiatribune.com/index.php?option=com_content&view=article&id=9385:mediciti-group-appoints-former-aapi-president-dr-c-ventata-ram-as-new-ceo&catid=25:community&Itemid=457)
Hyderabad: Dr. C. Venkata S. Ram, an internationally recognized educator and respected authority in the field of hypertension, is the new CEO and president of Mediciti Group of Institutions, Hyderabad, India. The Mediciti group of Institutions has one medical college, two hospitals, postgraduate education (MD/MS) in 20 specialties, clinical research facilities, and two nursing colleges.
Dr. Ram served on the faculty for a number of years as a professor of medicine at the prestigious and highly acclaimed University of Texas Southwestern Medical School in Dallas, Texas. He was also the director of the Texas Blood Pressure Institute and the director of Medical Education at the Dallas Nephrology Associates. A uniquely skilled communicator, he introduced a popular “Health letter” to reach out to and communicate with the primary care physicians.
He also had the honor of discussing the public health policies with the former Prime Ministers of India — P.V. Narasimha Rao, Atal Behari Vajapayee and Deve Gowda. Dr. Ram as the president of AAPI also had the honor of introducing AAPI and its mission to President of the United States – Bill Clinton.
Dr. Ram is the current vice president of the American Society of Hypertension Specialists. He authored 310 publications and wrote a book on Hypertension. He was repeatedly recognized as one of the Best Doctors in America. He is rated as a top class clinician and teacher. He received the Mother India award. He was recognized as the “best globally know physician” by TANA from the Andhra Pradesh. He has several other honors and awards to his credit.
August 13th, 2012, 02:26 PM
Ybrant: Buzzing in digital marketing space (http://www.thehindubusinessline.com/industry-and-economy/article3754764.ece?ref=wl_opinion)
The Bay Area or Silicon Valley in the mid-1990s was buzzing with ideas and funds were chasing them. An ideal setting indeed for Suresh Reddy to turn entrepreneur and take risks. Suresh and his school buddy Vijay Kancharla got together and hit upon the idea to start USAgreetings.com.
“We got into design and distribution of greeting cards through the Web. Put our personal money of a crore and got on to the bandwagon of entrepreneurship. By 2000, with the dotcom bust, we also crashed. But we did not lose heart,” recalls Suresh Reddy, now Chief Executive of Ybrant Digital, a rapidly growing company in the Internet technologies space.
A big learning from the first venture was clear. “We need to give people what they want.” The two were shocked when they heard a top entrepreneur in the Valley told them “buddy you are trying to sell greeting cards when people are being laid off in big numbers.” At that time Suresh and his friend’s company employed 15 people in San Francisco and 50 in Hyderabad. “We did not lay off, but gave a gradual exit plan and retention option if we did well,” he says.
In 2001, Suresh returned to India after over 10 years in the US, where he pursued higher studies, worked in several companies and took his baby steps as an entrepreneur. He changed tracks, re-launched the greetings business in a new avatar called Ybrant Technologies in Hyderabad. Till 2004, says Suresh, they ran the company with their own resources and with the revenues they managed to pay up their debts.
The hunger for growth began around 2006 with Ybrant Digital, the digital marketing services provider going in for its initial acquisition – the Isreali firm Oridian and the Serbia-based Seenietix. With $20-million PE fund from Sansar Capital and funds raised through financial institutions, Ybrant bought up around half a dozen more companies in the next few years. In a short time, Ybrant has spread itself into different geographies and is present in 16 countries, with over 500 employees.
“I never thought I will fail. I went with blind faith and belief, both when I started my journey as an entrepreneur in the US and when I came back to India to start Ybrant. I can’t say whether it is self-confidence, but more akin to refusal to give up that has brought me thus far,” says the 46-year-old Suresh.
The journey took another turn in 2012, with Ybrant going in for a merger with LGS Global. The merged entity will emerge as an over Rs 1,000 crore revenue company. It has gone in for a listing on the BSE and is going through the merger pangs.
The company is concentrating on building products internally in the digital advertising and marketing space, even as it looks at buying up companies in India and abroad.
Social media and mobile will be the key focus areas. The markets in Asia and Latin America offer big growth prospects. In other countries too, Ybrant is present and growing. “We do around 30 billion impressions per month. Want to stick to digital media for now.”
Suresh is a first generation entrepreneur. His grandparents were into farming, while his father was in the civilian side of the Defence services. Suresh is a Mechanical Engineer from IIT, Kharagpur and studied MS in Engineering Mechanics from Iowa State. After completing his postgraduation, he worked in a number of companies starting as a project engineer with AM General Corporation, Detroit which makes the Hummer and went on to do a stint with Charles Schwabe.
The longest work experience he had was with the Caterpillar Group. That was for two and half years. Then, he moved to Detroit and worked with Chrysler’s Jeep and Truck Group. The rolling stone that he was gathered quite a good chunk of moss, that today keeps him in good stead while dealing with people, geographies and challenges.
To be a successful entrepreneur one has to have passion and persistence. “I did not give up when our first venture floundered or when my father asked me why are you giving away free greeting cards. I persisted, learnt from failures and improved,” says Suresh.
In areas of innovation there is money today. But to go raise the funds is challenging. Convincing the investor is tough. Around 2000, getting finance from banks and financial institutions was difficult, but it has changed now. The Indian consumer base is large. If you get right ideas, investors are ready. “A good age to take the plunge if you want to be an entrepreneur is early 30s. I started at 32,” is Suresh’s sage advice to aspiring ones.
VISION AND GOALS
Asked about his vision and goals for Ybrant, Suresh says he does not believe in mission statements or targets for growth. The digital space is highly unpredictable.
“I never imagined that the market would grow like this. There could be quantum jumps. I am also not thinking of diversification. Sticking to core strengths is the best strategy now for us.”
Spending time with a close knit group of friends, bonding with family and hectic business travel is Suresh’s typical lifestyle. Suresh believes in Tao’ism.
For him, running large organisations is like cooking fish, perhaps easy. Smaller organisations pose challenges, running multiple companies in different geographies with varying cultures is still tougher. He says he believes in least interference and allowing growth of local leadership to drive the growth.
He has learnt leadership skills hands on, with failures and successes. An entrepreneur should be ready to learn on a continuous basis, he says. Building the brand ‘Ybrant’ is the key motivation for him, he sums up.
August 13th, 2012, 02:27 PM
Accel Partners Invests In Mind Edutainment (http://www.dealcurry.com/20120813-Accel-Partners-Invests-In-Mind-Edutainment.htm)
Mind Edutainment Private Limited has raised R2.7 Cr from Accel Partners and group of angels led by Meena Ganesh - CEO & MD Pearson Education.
The funds raised will be used to scale the initial pilot project of THOTS Lab from 3 cities to 8 cities and to integrate ICT in delivery process to create an ideal mix of ICT and Experiential Learning.
Earlier, the company had received funding from the Department of Science and Technology and individual angel investors.
Founded in 2007 by Sangeeta Khurana and Ashutosh Khurana, Mind Edutainment develops and provides solutions to improve social and emotional thinking skills among school-going children.
The company has developed 'Higher Order Thinking Skills' program with the use of physical Thinking Tools and Mind Games. The program created has been adopted by 40 plus schools and 50000 plus students of UKG to Grade VIII as a complete subject on thinking skills development.
It provides services to schools in Karnataka, Tamil Nadu, Uttaranchal, Chandigarh and Delhi NCR.
The company has created 'THOTS Labs' , a scientifically designed space in the school with focus on thinking development right from the age of four through experiential learning and structured simulations within the school environment.
Mind Edutainment plans to install THOTS Lab across Delhi, Dehradun, Chandigarh, Bangalore, Hyderabad, Chennai, Kochi & Pune.
Earlier in August, Accel Partner invested $5 Mn in Universal Collectabillia, a celebrity merchandise and brand extension firm. It also invested in ZopNow Retail, an online hypermarket for groceries & related goods.
Recently, LIQVID, an integrated eLearning content solutions company specializing in English Language Training, raised $3 Mn funding from SBI Ven Capital, a subsidiary of SBI Holdings, Japan. The IIT Bombay incubated – Inopen Technologies Private Limited was planning to raise $4 Mn for expansion. Hyderabad based Kindle Experiential Learning which offers innovative learning solutions for schools under the brand Creya Learning was also planning to raise around $4.5 Mn - 5 Mn.
August 13th, 2012, 02:30 PM
Marginal fall in Madhucon’s net (http://www.thehindubusinessline.com/companies/article3758312.ece)
HYDERABAD, AUG. 12:
Madhucon Projects Limited has posted a lower net profit of Rs 7.02 crore for the first quarter ended June 30, 2012 as against Rs. 7.96 crore it logged for the corresponding quarter last year.
The company’s revenue for the first quarter was, however, up by 2 per cent at Rs 336.15 crore (Rs 329.22 crore).
The Hyderabad-based infrastructure company, which is into EPC contracts, road development through its subsidiary Madhucon Infra Limited, and executing thermal power project through another subsidiary Simhapuri Energy Private Limited, currently has an order book of Rs 6,300 crore.
It is prequalified for EPC works of over Rs 20,000 crore in irrigation, highways and other sectors.
PT Madhucon Indonesia, a subsidiary of company with rights for three coal assets in Indonesia, has commenced production in one of the mines at Dewas located in Sumatra. This mine has a monthly target of 20,000 tonnes.
During the quarter, the company commissioned phase I of 300 MW of the 1,920-MW Simhapuri power plant coming up in Nellore district of Andhra Pradesh.
Two more units of 150 MW each are likely to be commissioned during the year, taking the installed capacity to 600 MW.
August 14th, 2012, 10:51 AM
Infotech Enterprises eyes control of JV with Pratt & Whitney (http://economictimes.indiatimes.com/tech/ites/infotech-enterprises-eyes-control-of-jv-with-pratt-whitney/articleshow/15486008.cms)
HYDERABAD: IT services firm Infotech Enterprises plans to buy majority stake in its aerospace engineering joint venture with American aircraft engine maker Pratt & Whitney. Indian mid-tier IT services company, tracking $400 million revenue, wants to broadbased the aerospace business which is mostly dependent on the US partner.
Pratt & Whitney, a unit of the US defence giant United Technologies Corporation (UTC), currently holds 51% stake in the Puerto Ricobased Infotech Aerospace Services. Infotech Enterprises , backed by private equity firms Carlyle and General Atlantic Partners, is likely to take 74% controlling interest in a bid to win more business from new aerospace clients.
UTC arm will keep at least 26% stake in the eight year-old JV with 700 staff and more than $75 million revenue.
"We have plans to take majority ownership in this joint venture. It will essentially make way for more business from other aerospace clients which considered majority stake of United Technologies a hurdle in giving us business," Infotech Enterprises chairman & managing director B V R Mohan Reddy told TOI.
The move signals Infotech's intent to scale up aerospace engineering services unit at a time when IT companies hope to ride on the offset clauses coming along with India's big defence orders to global aerospace biggies.
The JV works on aerospace engineering and software development for military, commercial and industrial applications. Infotech and UTC began a strong association in aerospace almost a decade ago with the latter taking majority ownership of Puerto Rico operations, since near-shoring work there was seen strategic to US national interests. The JV management will remain intact despite a possible ownership change given the continued nature of work.
The ties between UTC with Infotech are bolstered by the former's little over 13% stake in one of India's fastest growing mid-tier IT services companies. Infotech is primarily an engineering services company focused from aerospace, automotive, energy, heavy equipment, consumer, healthcare and telecom verticals. Infotech Enterprises stock ended Monday trading marginally down at Rs 175 on BSE.
August 14th, 2012, 12:23 PM
Gayatri Projects net falls to Rs 8 cr in Q1 (http://www.thehindubusinessline.com/companies/article3770304.ece)
HYDERABAD, AUG. 14:
Gayatri Projects Ltd has posted a lower net profit of Rs 8.02 crore for the first quarter ended June 30, 2012, as against Rs 16.73 crore it registered in the corresponding quarter last year.
The Hyderabad-based company’s revenue was marginally up at Rs 404.21 crore as against Rs 401.43 crore in the period under review.
The board has approved a proposal to acquire shares in an overseas joint venture company subject to getting the nod from members in the forthcoming annual general meeting.
The company management has approved a new logo and brand guidelines for the Gayatri Group to be implemented from August 20, 2012.
Gayatri Projects’ shares were quoting at Rs 100, up 1 per cent during the day’s trade.
August 14th, 2012, 12:25 PM
IL&FS Engineering posts Rs 34-cr loss in Q1 (http://www.thehindubusinessline.com/companies/article3770574.ece)
HYDERABAD, AUG 14:
Hyderabad, Aug 14 IL&FS Engineering and Construction Company Ltd (formerly Maytas Infra Ltd) has posted a loss of Rs 34.22 crore for the first quarter ended June 30, 2012 against a loss of Rs 14.10 crore in the corresponding quarter last year.
However, the revenues stood at Rs 359.41 crore against Rs 250.88 crore.
The board has decided to extend the financial year of the company by six months. This move comes in the wake of the Scheme of Arrangement undertaken by the company to restructure its capital.
The capital restructure process is awaiting the approval of Andhra Pradesh High Court.
In the Limited Review Report, Auditors S.R.Batliboi & Associates have carried forward certain qualifications including inter corporate deposits of Rs 343.78 crore.
The company shares were quoting flat at Rs 51 during the day’s trade.
August 14th, 2012, 12:29 PM
YBrant's net up at Rs 60 cr in June quarter (http://ibnlive.in.com/generalnewsfeed/news/ybrants-net-up-at-rs-60-cr-in-june-quarter/1043007.html)
Hyderabad, Aug 14 (PTI) City-based digital marketing company Ybrant Digital Limited (formerly LGS Global Limited) today said its net profit for the quarter ended June 30 registered at Rs 60 crore against Rs 44 crore during the same period previous year. Net profit was up by 36 per cent mainly on account of forex gains during the quarter. The company gained nearly 13 crore on rupee depreciation against foreign currencies. Revenues for the quarter stood at Rs 381 crore against Rs 272 crore in the same period last fiscal, Ybrant said in release issued here. Ybrant has two core segments - digital marketing and software development. Its shares are traded at Rs 82 apiece on Bombay Stock Exchange, up 2.63 per cent in the afternoon trade.
August 14th, 2012, 12:46 PM
Megasoft revenues, profits down in Q2 (http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3770095.ece)
HYDERABAD, AUG 14:
Revenues and profits of Megasoft have declined in the second quarter and also in the first half of the financial year.
In the quarter ended June 30, 2012 the revenues dipped to Rs 29 crore against Rs 40 crore in the same quarter last year. Net profit too fell to Rs 1.25 crore from Rs 5.31 crore.
“Decline in revenue is because of loss of one of the largest clients in 2011 which had its first full impact in the first half of 2012. But we have closed two new deals in the second quarter with multi-year revenue potential,’’ G.V. Kumar, Managing Director of Megasoft, has said.
He said the company has implemented cost-control measures and expects some ‘positive’ impact in EBIDTA (earnings before interest, depreciation, taxes and amortisation) in the second half of 2012.
“The first half has been a tough one on the operations of the company. While the company managed to stay operationally cash and profit positive, capex spending is witnessing a slowdown, resulting in slower uptake for the company’s new products and applications,’’ he said, commenting on the results.
For the first half, the Hyderabad-based company reported lower revenues of Rs 59 crore (Rs 80 crore) and a net profit of Rs 4 crore (Rs 12 crore).
August 14th, 2012, 01:00 PM
Vivimed Labs consolidated net sales zooms by over 126% in Q1 (http://pharmabiz.com/NewsDetails.aspx?aid=70640&sid=2)
Vivimed Labs, a Hyderabad based Rs.650 crore pharmaceuticals and specialty chemical major, has posted excellent performance during the first quarter ended June 2012. Its consolidated net profit increased sharply by 111 per cent to Rs.26.13 crore from Rs.12.39 crore in the corresponding period of last year. Its consolidated net sales also increased by 126 per cent to Rs.272.52 crore from Rs.120.64 crore. Its earnings per share touched to Rs.18.75 from Rs.12.19 in the last period.
The sales of speciality chemicals business improved marginally by 2.6 per cent to Rs.105.17 crore. Its pharmaceutical sales have taken sharp jump and touched Rs.190.84 crore from Rs.37.79 crore. The pharma division's profit before tax and interest increased to Rs.28.11 crore from Rs.7.02 crore and that of speciality division improved by Rs.19.70 crore from Rs 15.04 crore.
However, its standalone net sales declined by 12.3 per cent to Rs.91.16 crore from Rs.103.93 crore in the similar period of last year. Its standalone net profit moved down by 21.8 per cent to Rs.8.45 crore from Rs.10.80 crore.
August 14th, 2012, 01:00 PM
NMDC posts Rs 1,906 cr net profit in Q1 (http://www.thehindubusinessline.com/companies/article3770673.ece?ref=wl_opinion)
HYDERABAD, AUG 13:
NMDC has posted a record net profit of Rs 1,906 crore during the first quarter ended June 30, 2012 a six per cent growth compared with Rs 1,801 crore in the same quarter last year.
The iron ore major has achieved a turnover of Rs 2,840 crore (Rs 2,782 crore), a marginal increase over the comparative quarter. The earnings per share stood at Rs 4.81 compared with Rs 4.54 per share last year.
During the quarter under review, production of iron ore jumped 12 per cent to 6.9 million tonnes while the sales stood at 6.2 mt, almost on par with the corresponding quarter of the previous year.
For the year 2012-13, a capital expenditure of Rs 4,656 crore is planned to be incurred including Rs 1,200 crore for overseas acquisitions, a press release from the Hyderabad-based public sector undertaking said.
The board of directors of NMDC had met under the chairmanship of C.S. Verma on Monday.
Verma said: “NMDC would be recognised not only as an iron ore mining major but also as a key enabler of the steel and infrastructure industry”.
The installation of 3 MTPA steel plant at Nagarnar in Chhattisgarh, as part of NMDC’s forward integration programme and value-addition, is being pursued vigorously.
Orders for major packages worth Rs 12,842 crore have already been placed while other auxiliary packages are in advanced stages of finalisation, he said.
August 14th, 2012, 07:47 PM
AP Incubators plans Rs 14-cr emu oil unit (http://www.business-standard.com/india/news/ap-incubators-plans-rs-14-cr-emu-oil-unit/483285/)
AP Incubators Private Limited, a Hyderabad-based manufacturer and exporter of poultry incubators and equipment, is planning to set up the country’s first emu fat and oil processing plant on the city outskirts with an investment of Rs 14 crore, according to managing director N Srinivas Chowdary.
The plant, to be set up under the company’s new subsidiary AP Emu Processors on 10 acre, will have an initial capacity to process 600 kg of frozen emu fat into refined oil and soap stock per day.
“A three-year exclusive contract with Pennsylvania-based Bulk Emu Oil is already in place, and we will start exporting the US FDA and American Emu Association-approved emu oil to them once the processing unit is completed in 10 months from now,” Chowdary told mediapersons on Tuesday.
The company, he said, had plans to establish an emu slaughter house and meat processing unit in the city, expected to be ready for commercial production in the next three years. A majority of the proposed investment would be funded through bank loans and the remaining through internal accruals, he added.
According to SK Maini, partner, AP Emu Processors, Andhra Pradesh leads the country in emu farming with approximately 3,500 farmers and a bird population of 800,000, closely followed by Tamil Nadu, Maharashtra, Punjab, Haryana, Karnataka and Gujarat. The total emu population in India is estimated to be 1.4 million.
“Though there is significant demand for emu meat and other products, the Indian emu industry on Tuesday is suffering due to lack of slaughter and fat processing facilities. Our idea is to promote satellite slaughter units in several emu-producing states. We are already working closely with various universities for R&D on breeder birds for meat, and with the cosmetic industry for emu oil-based skincare and healthcare products. We will start exporting these products after three years from now,” he said.
August 14th, 2012, 08:00 PM
Future Capital promoters to absorb Rs 170-cr loan given to Deccan Chronicle (http://www.thehindubusinessline.com/companies/article3723433.ece)
DCHL extends financial year by 6 months
HYDERABAD, AUG. 3:
The Promoter Group of Future Capital Holdings Ltd has agreed to takeover the entire loan exposure of Rs 170 crore lent to Deccan Chronicle Holdings Ltd and Aviotech Ltd.
About 56.3 per cent of Future Capital is owned by Pantaloon Retail (India) Ltd and Kishore Biyani. Warburg Pincus has also become a shareholder in the company after they had decided to buy stake in Future Capital for Rs 560 crore.
In a statement to the stock exchange, Future Capital has informed that the board of directors of the company reviewed the loans given to Deccan Chronicle Holdings. To safeguard the interest of the stakeholders of the company, the Promoter Group of Future capital has agreed to takeover the entire loan exposure at book value.
With this development, Future Capital will cease to have any exposure in Deccan Chronicle Group. The promoter group intends to take all action necessary to safeguard all its entitlements and rights after this assignment.
Last week, Deccan Chronicle had informed that about 54 per cent of their stake has been pledged with Future Capital to raise funds.
However, there continue to be a series of developments, including a winding up petition by IFCI and a complaint of forgery by Karvy.
Financial year extended: Deccan Chronicle has informed that the financial year of the company ended on March 31, 2012 has been extended for a further period of six months ending September 30, 2012, with the approval of the Registrar of Companies.
Referring to media reports, “DB Corp in talks to acquire DCHL print biz,” Deccan Chronicle Holdings Ltd has clarified that the company has not been approached by anybody to acquire the print business and the company and is no way connected with the news.”
Meanwhile, DCHL has witnessed several bulk deals including Vora Financial Services Private Ltd.
The DCHL shares closed the day at Rs. 13.55 up 1.88 per cent.
The Hindu Business Line competes with Financial Chronicle.
August 15th, 2012, 01:33 PM
Lanco Infra to raise Rs. 2,000 cr by March via stake sale (http://www.livemint.com/2012/08/14114054/Lanco-Infra-to-raise-Rs-2000.html?h=B)
Hyderabad: Lanco Infratech Ltd, India’s largest independent power producer, will sell shares to raise Rs.2,000 crore by March to reduce debt and invest in ongoing projects.
Lanco has borrowed Rs.33,118.6 crore and interest costs shot up 77% to Rs.539 crore on 30 June compared with Rs.304 crore a year earlier.
The firm had appointed Macquarie Capital Advisers, a Macquarie Group advisory, to find a strategic investor into its power and solar power businesses. In power, the company is trying to offload stakes in both thermal and hydropower at the project level.
With the proposed divestment, the high debt to equity ratio of 4.38 is likely to drop to 4, according to T. Adi Babu, chief operating officer of finance and financial controller of Lanco Infratech.
The loss came on an 87% increase in revenue to Rs.3,495.7 crore in the June quarter. Photo: Mint
Lanco has installed capacity to produce 4,110MW of electricity, out of which around 73% is thermal and 26% gas-based, while hydropower accounts for a little over 1%.
The company is also looking to unlock value from its non-core businesses such as roads, wind power and real estate.
The road portfolio of Lanco consists of three build, operate and transfer projects of about 440km, of which two projects are operational and another is still under construction.
The company is developing a residential-cum-commercial and information technology (IT) park near Gachibowli, the information technology hub of Hyderabad. Consultancy Ernst and Young had been given the mandate to look for investors into the roads and real estate segments.
There is a “lot of interest” but investors are seeking “clarity on policy level issues such as sectorial reforms to electric utilities, liquidity issues, tariff revision issues and funding issues by banks,” Babu said.
Analysts are not too sure about the company’s ability to raise money in the current circumstances.
“It’s impossible,” said Vijaykumar Bupathy, senior analyst with Chennai-based Spark Capital Advisors (India) Pvt. Ltd. “Given the poor Q1 results, which were way below our expectations, it becomes even tougher for the company to raise capital.”
Lanco reported a consolidated net loss of Rs.441.2 crore in the quarter ended 30 June. It cited high interest costs, foreign exchange loss and lower capacity utilization at some of its power plants as reasons behind the lacklustre performance.
The company had posted a profit of Rs.13.8 crore a year ago. The loss came on an 87% increase in revenue to Rs.3,495.7 crore from Rs.1,867.2 crore in the previous year.
Lanco said it had incurred a forex loss of Rs.230.2 crore in the first quarter. Interest costs rose by 77% to Rs.539 crore from Rs.304 crore a year ago.
The company’s power business, which contributes about half of its total revenue, grew by 94% to Rs.2,081.6 crore. The operating capacity of its power business is 3,324MW. Average plant load factor (PLF), an indicator of a power plant’s capacity utilization, was 58%.
Lanco, which planned to increase 5,000 MW capacity in its power business, has put on hold the expansion plans owing high interests costs and a fuel shortage.
In the first quarter, Lanco had commissioned the 70MW Budhil hydropower project in Himachal Pradesh. The company said the project achieved a PLF of 53%.
Its engineering, procurement and construction business revenue fell to Rs.1,573.4 crore from Rs.1,736.9 crore a year ago. The construction business has an order book of Rs.2,509.5 crore, of which 78% constitutes Lanco’s internal projects.
Property development revenue declined to Rs.7.11 crore from Rs.34.7 crore a year ago.
August 15th, 2012, 05:52 PM
Rs 10-cr emu processing unit to come up in Medak
HYDERABAD, AUG. 14:
Andhra Pradesh, which is home to majority of the country’s emu population, will have a processing facility soon.
The facility will come up at Patancheru in Medak district with an investment of Rs 10 crore.
“It would have equipment and process to suit the FDA (United States Food and Drugs Administration) requirements,” N. Srinivas Chowdary, a promoter of AP Emu Processors Private Limited, said.
Andhra Pradesh accounts for more than half of the country’s emu population of 13 lakh.
“In the absence of processing facilities, the farmers are not fully realising the potential of emu meat and fat. We have tied up with about 1,500 farmers to procure the birds,” he said.
Chowdary is the Managing Director of AP Incubators Private Limited that produced about 700 incubators to hatch the birds. “We are in touch with the supply chain of the birds and we noticed the under realisation of potential,” he said.
“They are following crude methods for slaughter and production of oil. As a result, we see poor quality of oil with no standardisation,” he said.
He said there was huge scope for the emu oil in cosmetic and pharmaceutical industries globally.
“We have tied up with a US firm for procurement of the scientifically produced oil,” Chowdary said. With a view to creating awareness on the rearing of the bird and business opportunities, the company is organising a meeting in Hyderabad on August 19.
August 16th, 2012, 06:21 PM
Amara Raja scrip hits new high
HYDERABAD, AUG 16:
Shares of Amara Raja Batteries Ltd hit a new high of Rs 384.40, up 5.81 per cent during the day’s trade.
The scrip touched an intra-day high of Rs 404.
The stock has seen significant surge in the past few days since the company came out with good numbers. The company logged a 95 per cent growth in its first quarter revenue at Rs 76 crore and also indicated at taking up expansion.
The market seems to have received the company news favourably at a time where most companies are hard pressed to register good profits.
August 16th, 2012, 06:21 PM
Suven Life net profit more than doubles
HYDERABAD, AUG 16:
Suven Life Sciences has more than doubled its net profit to Rs 8 crore (Rs 3.4 crore) for the quarter ended June 30, 2012.
Its revenues went up by 58 per cent to Rs 71.1 crore (Rs 44.8 crore) as per the unaudited financial results.
The biopharmaceutical company board has recommended a dividend of Re 0.30 per share (30 per cent of face value of Rs 1 each) for fiscal 2011-12.
The company has spent Rs 8.5 crore on drug discovery work, which is 12 per cent of revenues for the first quarter.
During the quarter, Suven Life also got eight product patents from different countries for its candidate molecules targeting Alzheimer’s and Schizophrenia.
The High Court of Andhra Pradesh has sanctioned the Scheme of Amalgamation of Suven Nishtaa Pharma Pvt Ltd with Suven Life Sciences Ltd. The court order has been filed with the Registrar of Companies, Andhra Pradesh, Hyderabad, a release said.
August 16th, 2012, 07:03 PM
Ramky Infra divests part stake in Gwalior Project SPV (http://www.thehindubusinessline.com/companies/article3776074.ece?homepage=true&ref=wl_home)
HYDERABAD, AUG. 15:
Ramky Infrastructure has divested part of its stake in a special purpose vehicle created to execute a road project in Madhya Pradesh to Era Infra.
The Hyderabad-based infrastructure company brought down to 26 per cent its 51 per cent stake in the Gwalior Bypass Road Project, offering the remaining stake to Era Infra Engineering Limited, its project partner.
The 42-km stretch entails four-laning of a bypass road in Madhya Pradesh. Located in the North-South corridor of the National Highways Development Programme, the project is being executed under the Build, Operate and Transfer mode.
The SPV, Gwalior Bypass Road Project Pvt Limited, had Era Infra Engineering Limited as consortium lead and included Ramky Infrastructure and Shriram Chits.
“The project is under execution and is likely to be completed in about four months. As per NHAI norms, the developer cannot bring down the holding to below 26 per cent within the execution phase. We are within the permissible norms,” M. Gautham Reddy, Executive Director, Ramky Infra, told Business Line.
The Board of Directors of the Company, at its meeting on Tuesday, approved the execution of the shareholders’ agreement with Era Infrastructure (India) Ltd for dilution of equity in Gwalior Bypass Projects Ltd.
It also approved a share purchase agreement for sale of preference shares held in Gwalior Bypass Projects Limited.
August 16th, 2012, 07:58 PM
Care Hospitals lines up Rs 400 cr expansion plans (http://www.business-standard.com/india/news/care-hospitals-linesrs-400-cr-expansion-plans/483435/)
Hyderabad-based healthcare chain, Care Hospitals, which had raised $105 million (Rs 534 crore) this financial year from US-based private equity major Advent International, is on an expansion drive.
It is planning to double beds capacity to 3,500, set up five new greenfield hospitals and a Rs 35-crore daycare Centre of Excellence over the next two. The projects will involve a total investment of Rs 400 crore.
“We have adopted this three-pronged growth strategy to become a major healthcare player in India. Currently, we are present in five states across the central and southern India, mainly in Tier II cities such as Visakhapatnam, Raipur, Bhubaneswar, Nagpur, Surat and Pune, along with Hyderabad. For the time being, our focus will be more on expanding at our existing locations,” N Krishna Reddy, chief executive officer, Care Hospitals, told Business Standard.
Care plans to upgrade and add 100-200 beds at its existing 100-bedded hospitals across the cities, as some of the hospitals are a decade old. It has already started expansion work on its Banjara Hills and Nampally units here.
It has 12 hospitals, including four in Hyderabad. “We are planning to set up our fifth unit in Hyderabad at Gachibowli. It will be a 250-bed hospital and come up with an investment of around Rs 105 crore,” he said.
The proposed Rs 35-crore daycare centre, spread across 100,000 sft, will come up in Banjara Hills and house 100 counselling chambers, spas and dialysis centres. “We have already acquired a building and will covert it into the day-care centre,” he said.
The healthcare major is also looking at growth from the consolidation space. “Two-three healthcare players from our existing locations have approached us with proposals. We are looking at like-minded opportunities. If at all it happens, it will be through acquiring majority stake,” he said.
Care will fund the projects through a mix of equity (around 70 per cent) and debt (30 per cent). “We are planning to raise around Rs 100 crore from various banks in phases over the deployment period of two years,” Reddy said.
Founded in 1997, the hospital chain is estimated to have a revenue of Rs 500 crore.
August 16th, 2012, 08:07 PM
Four Soft to focus on mfg for better revenue mix (http://www.business-standard.com/india/news/four-soft-to-focusmfg-for-better-revenue-mix/483430/)
Four Soft Limited, a Hyderabad-based provider of software solutions for transportation and logistics industry, is shifting its focus to the manufacturing sector to have the right mix of revenues, according to chief operating and chief financial officer Biju S Nair.
“We are tilting towards supply chain execution to increase our margins, as the price that we get from the manufacturing segment is much more than the logistic segment. So, our global focus is now on supply chain management and execution where margins are higher,” he told Business Standard.
The 11-year-old company currently gets 88 per cent of its revenues from transportation execution and 12 per cent from supply chain. With the new focus and new products in the pipeline, this revenue mix would change to 82 per cent and 18 per cent respectively by the end of this fiscal, he said.
“We are also looking at the manufacturing segment in India. We have introduced 4S eCustoms, a web-centric customs compliance solution, in India and there are already six clients live on that. Though India is expected to contribute Rs 2.5 crore to our top line this year, we are aiming at doubling it by next year,” Nair said.
Four Soft, which offers its products on a SaaS (software-as-a-service) model, has 400 customers globally, including around 14 freight-forwarding and logistics companies in India. While Europe accounts for 69 per cent of its revenues, the US contributes 21 per cent and the rest from Asia (mainly Japan and India).
Nair said the company was trying to strengthen its presence in geographies like West Asia and Australia, which primarily are manufacturing markets, during this year. “The future of Four Soft is in the supply chain segment, where manufacturing companies or 4PL (fourth-party logistics) companies use our products as an ERP or a visibility tool,” he added.
Four Soft reported a net profit of Rs 2.76 crore for the first quarter ended June 2012, as against Rs 1.61 crore in the corresponding quarter last year, reflecting a growth of 71.42 per cent. Its revenues grew 8.37 per cent to Rs 32.49 crore, as against Rs 29.98 crore during the same period a year ago.
“Of out total top line of $28 million in FY12, $20 million is annuities (existing repeat business, including annual maintenance revenue). We now have an order book worth $6 million, and our plan is to get $3 million of new sales during this year,” Nair said.
Four Soft Limited’s scrip ended the trade at Rs 7.74 on the BSE on Thursday, up 0.26 per cent, over the previous close of Rs 7.72.
August 16th, 2012, 08:11 PM
7Seas' The Dark Man on Android platform (http://www.business-standard.com/india/news/7seasdark-man-android-platform/483431/)
7Seas Entertainment Limited, a Hyderabad-based independent game development company, today said its online game ‘The Dark Man’ is now available for Android-based mobile devices.
Since its launch a year ago, the physics-based shooting game has seen over 15 millions game plays online, including social networking sites. The touch screen-genre game is priced at $0.99 per download.
The game will initially be made available on Google’s Android marketplace, and will be offered on Samsung App Store, LG Store and other Android-supporting app stores and distributor networks in due course, the company said in a release on Thursday.
With Android becoming the world’s leading smartphone platform, makes mobile games a much more reliable way to grow, said L Maruti Sanker, managing director of 7Seas.
According to IDC, Android will reach its peak market share this year, topping out at 61 percent of the global market. IDC believes that Android will continue to command the single-largest share of the smartphone OS market in 2016, he added.
7Seas’ scrip rose 0.39 per cent to end the trade at Rs 25.7 on the BSE on Thursday, over the previous close of Rs 25.6.
August 17th, 2012, 03:38 AM
Sr scientists backed funds to C.R. Rao Institute: DRDO
The Defence Research and Development Organisation has funded the city-based Dr C.R. Rao Advanced Institute of Mathematics, Statistics and Computer Science (AIMSCS) to conduct studies on the latest warfare technology including decoding of enemy’s military secrets and strengthening India’s defence capabilities.
The Rs 2.8 crore sanctioned to AIMSCS was for research in two critical areas of defence — radar technology and cryptanalysis. While research in radar technology will help boost the country’s defence system, the cryptanalysis project deals with coding and decoding secret or encrypted messages. Cryptanalysis needs mathematically-advanced computerised schemes. DRDO chief and eminent defence scientist Dr V.K. Saraswat has been in the news for sanction of funds to AIMSCS, of which he is the honorary president. Defence sources refute the allegation of misuse of funds saying that the money was sanctioned for the critical projects as they were taken up by eminent researchers including Prof. Vellenki Umapathi Reddy, Prof. S.B. Rao and Prof. Virender Sule.
“The project on radar systems including target detection, resolution and identification was taken up due to the potential of the research outcome and its usefulness to DRDO’s futuristic radar development activities. Top scientists including Prof. P.R. Mahapatra of Indian Institute of Science reviewed the proposal and recommended sanction of funds,” a senior defence official said. Sources said the morale of the DRDO team has been hit after the allegation of irregularity in the sanction of funds. C.R. Rao institute received funding from a several agencies including the Government of India (Rs 10 crore), Planning Commission (Rs 5 crore), National Technical Research Organisation (Rs 12.48 crore) and AP government (Rs 50 lakh).
The project on cryptanalysis was recommended by director of Scientific Analysis Group, Delhi, based on the critical areas of research in the futuristic areas of cryptanalysis and cryptography.
According to them, such collaborative work with premier institutes of the country have played a crucial role in overcoming the damaging impact of isolation forced upon India and its strategic research organisations under the harsh international denial regimes. Involvement of academic and research institutes with expertise in the critical areas is an established process in the country and elsewhere.
“Only because Dr Saraswat is the president of the institute, it does not bind the research body from seeking projects and funding from various government bodies, research organisations including those of DRDO,” another DRDO official said.
August 20th, 2012, 11:26 AM
Suven Life may tie up for Alzheimer's drug (http://www.business-standard.com/india/news/suven-life-may-tiefor-alzheimers-drug/483701/)
Hyderabad-based Suven Life Sciences Limited, which has eight product patents with potential therapeutic use in the central nervous system (CNS) disorders including Alzheimer's disease, expects to collaborate with a big pharma company for one of these products in 2014.
It may be recalled that the company’s clinical drug candidate SUVN-502 ,which is meant for treating Alzheimer’s disease among other brain-related disorders, had passed through various toxicity tests along with human Phase-1 trials in Switzerland and is said to have found to be very safe. Other patented molecules are still at a preclincal stage.
“While it’s still a long way to go before these discoveries reach the stage of drug approvals, we are certain of entering into a collaboration in 2014 – which means an upfront payment for our molecule,” Venkat Jasti, chairman and CEO of Suven Life Sciences, told Business Standard.
Though big pharma companies are keen on the drug candidate that has a potential market opportunity of $20 billion globally, they insist on proof of concept before making any commitment, according to Jasti.
Proof of Concept involves a Phase-2 study aimed at evaluating the proof of efficacy and safety of the molecule with enrollment of targeted patient population ranging from 50 to a few hundreds. This helps companies identify a better clinical candidate at the very beginning to save time and money.
The company earned Rs 204 crore revenues last year and spent about Rs 33 crore on R&D initiatives. It has yet to generate any revenues on this front. The likely collaboration with big companies, the only way for a small company like Suven to take the molecule through the next stages of drug development that involves huge costs and associated risks, will see the first signs of pay back from the investments made so far.
Suven gets most of its revenues from the contract manufacturing segment, which it says offers good margins and market opportunities. The company's top line as well as the net profit for the quarter ending June, 2012, grew 58 per cent and 135 per cent to Rs 71 crore and Rs 8 crore respectively (revenues Rs 44.8 crore and net profit at Rs 3.4 crore in the quarter ended June, 2011).
The surge in revenues and net profit was because of several projects maturing at one time, said Jasti, who sees a growth of 20-25 per cent in net profit for the full year in 2012-13.
“We are into making advanced drug intermediaries for clients in the US and Europe and also in Japan. Margins are very good but the rising costs are eating them away,” he said.
Till the time the company’s drug discovery initiatives start paying back, its contract manufacturing operations would be generating enough cashflows to sustain growth, according to him.
August 23rd, 2012, 03:22 AM
Gayatri Projects redeems Rs 40-cr FCCBs (http://www.thehindubusinessline.com/companies/article3807636.ece)
MUMBAI, AUG 22:
Hyderabad-based infrastructure company Gayatri Projects today said it has initiated redemption of its foreign currency convertible bonds (FCCB) worth Rs 193 crore (raised in yen) and paid Rs 40 crore towards redemption of the first tranche.
“We have proposed to bondholders to complete the FCCB redemption in two tranches and has remitted 572,000,000 yen (Rs 40 crore) to the trustee’s account towards redemption of FCCBs that matured on August 3, marking the first tranche payment,” the company said.
It also said the company will remit second and final tranche of the remaining amount of Rs 153 crore by the end of September.
It further said funds were partly arranged through internal accruals and debt for which the company has already received sanction.
Gayatri Projects is present primarily in road and irrigation projects along with build-own-operate projects across various other segments.
August 26th, 2012, 05:55 PM
Pact signed for cooperation in energy sector
HYDERABAD, AUG. 24:
The Swedish Energy Agency, the Confederation of Indian Industry and Cleantech Scandinavia entered into a memorandum of understanding for cooperation in the energy sector on Friday.
The agreement was signed at the 11th Energy Efficiency Summit being held here where the focus will be on sustainable development and improving efficiencies.
The MoU was inked by Karl Edberg, Counsellor-Environment, Climate Change and Energy, Embassy of Sweden; S. Raghupathy, Executive Director and Head of CII Sohrabji Godrej Green Business Centre, and Alexander Lindgren, Chairman of Cleantech Scandinavia.
The focus of the cooperation will be on technology exchange and facilitate development of better energy management by engaging companies and research organisations.
Cleantech Scadinavia, the Sweden-based network for investors, governmental organisations and professionals, contributes to business and development.
The cooperation is of significance in the backdrop of Indian industry seeking to improve energy efficiency by adopting new technologies and processes in their plants. With the Perform, Achieve and Trade (PAT) scheme in place adding to interest from companies, several global companies are keen to take part in the Indian power sector.
Edberg said more than 360 companies based in Sweden are now engaged in India. Working together with Indian companies will be a win-win situation for both the countries, particularly in the area of energy efficiency.
August 28th, 2012, 08:21 AM
Mahindra Satyam employees get moderate pay raise on back of fragile economic scenario (http://economictimes.indiatimes.com/news/news-by-industry/jobs/mahindra-satyam-employees-get-moderate-pay-raise-on-back-of-fragile-economic-scenario/articleshow/15829232.cms)
CEO C P Gurnani is addressing the media announcing Q4 results of Mahindra Satyam in Hyderabad on Thursday. BCCL
HYDERABAD: Information technology services firm Mahindra Satyam doled out moderate hikes to its employees exercising caution on the back of a fragile economic scenario in the US and Europe, from where it gets over 80% of its revenues.
Satyam's Indian employees received salary hikes of about 7% while on site employees got a 2% raise, much in line with the rest of the industry. Last month, while announcing the June quarter earnings, company's chief executive CP Gurnani had sought to temper expectations by sounding cautionary on salary hikes.
Despite a volatile market, most large Indian IT firms gave out pay hikes in the range of 8-10%, while Bangalore-based Infosys had withheld hikes citing low visibility in near term growth - a decision that will be reviewed at the end of September quarter.
Last year, MSat which has an employee base of 33,000 offered 8 to 12% salary hikes from October.
"Most of us in the industry are very cautious and are reviewing the economic situation on a day to day basis," Hari T, chief people's officer. "We have decided to offer (pay) hikes to our employees to keep them motivated despite the cut back in IT spends."
Employee attrition at Satyam was at 13% in the June quarter, compared to 17% in the the previous quarter.
Satyam, part of the Mahindra Group, is set to merge with the group's IT services firm Tech Mahindra. The combined entity will have a little over $2billion in revenues and an employee base of around 75,000.
August 28th, 2012, 08:57 AM
Celkon launches tablet in sub-Rs 7,000 range (http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3821518.ece?homepage=true&ref=wl_home)
HYDERABAD, AUG. 25:
Celkon, the home-grown mobile phone brand, has come out with a tablet in the sub-Rs 7,000 category, continuing the tablet market war. The Ee-Tab (CT-1) model, priced at Rs 6,450, comes with pre-loaded applications that can be accessed offline.
The Hyderabad-based company is targeting the student community by embedding apps such as My Tutor. This app contains data and question papers for students appearing for national common tests for engineering and management.
“We have tied up with third party app developers for using some of these apps, For geeks, the 7-inch screen device comes with 512 MB RAM and 1.2 GHz processor. It is build on Android 4.0.3 (Ice Cream Sandwich) and contains 4 GB of internal memory with provision to expand up to 32 GB. Users can access the wireless networks using WiFi and 3G dongle options,” the company said.
Celkon, which sells five lakh mobiles a month, claims to be the number one national brand in the South and number 3 in this category nationally. Smartphones contribute 10 per cent to the sales volumes.
Addressing a press conference, Y. Guru, Managing Director, said the company planned to sell one lakh tablets by December-end. “We are coming out with three more models in the next two months. One of them will have the provision to insert a sim card. It will be priced at Rs 1,000 more,” he said.
Andhra Pradesh Information Technology Minister Ponnala Lakshmaiah launched the tablet.
August 28th, 2012, 09:03 AM
P Mangatram Jewellers launches world's lightest necklace at IIJS-2012 (http://diamondworld.net/contentview.aspx?item=7208)
P Mangatram Jewellers, a leading jewellery manufacturing company headquartered in Hyderabad, launched first-of-its-kind concepts and pieces in jewellery at the India International Jewellery Show (IIJS) 2012.
It unveiled one of its necklace creations of 3.5 grams, which makes it the world's lightest necklace, the company announced. This piece is crafted in 18 k gold and studded with precious stones. Also, the company introduced ‘SILK’, a new concept offering a delicate and fuller look, very flexible necklace with the minutest detailing set in 22 k gold and studded with rubies. The creations are inspired by the beauty of jewels that are exclusively hand picked and hand crafted to the highest specifications.
Sanjay Gulabani, Managing Director, P Mangatram Jewellers Pvt. Ltd. says, ‘With the rising prices of gold, customers are concentrating on the designs which are more contemporary. The world’s lightest necklace has been designed keeping in mind the soaring prices of the yellow metal that has gone beyond the reach of middle class segment. Moreover since buying gold is still considered as investment, this studded necklace lighter in weight but still luxurious and status symbol shows propensity to capitalize the future trends. We are proud to produce world-class studded jewellery at competitive prices which are signs of evolution in jewellery industry”
P Mangatram Jewellers offers a jewellery portfolio of rings, necklace, earring, pendants and bracelets, which are suited to individual style yet carry the appeal of being a legacy for jewellery lovers. The company primarily exports its precious and semi-precious studded jewellery largely to UAE & USA and plans to expand its foothold globally by setting up office in Dubai later this year.
August 28th, 2012, 09:12 AM
Start up’s new technology to enable multiple cardholders to carry just one card only (http://www.rupeetimes.com/news/credit_cards/start_ups_new_technology_to_enable_multiple_cardholders_to_carry_just_one_card_only_7017.html)
Hyderabad based information technology firm, Start up, showcased its new technology, which enables a person to carry a single plastic card instead of many cards and make payments using any of them.
Explaining the technology, Ch V.K.S. Kumar, the Managing Director of Onecard Techno Services India Pvt Ltd said that this special card developed by them enables cardholders to print the images of all their plastic cards ( credit cards, debit cards, loyalty cards, privilege cards etc.) on it and them use it as any other normal card. He defined this technology as "integration of all cards on a single card" and that it is not "cloning".
Elaborating further, he said, "You don't actually bring the whole file on to the screen. It is just an image that, when clicked, will take you to the original file. Our technology takes images on to the card and use it with a lot convenience."
For introducing the new technology, the company engaged former captain of India Criket Team, Sourav Ganguly. On security concerns relating to the use of the card, Mr. Kumar said that the card is as good as using the original card and that it is protected by biometric authentication.
August 28th, 2012, 09:22 AM
Premier Explosives sets up new plant (http://www.thehindubusinessline.com/companies/article3828411.ece?ref=wl_opinion)
HYDERABAD, AUG. 27:
Premier Explosives Ltd has set up a new emulsion explosives plant at Peddakandurkuru village in Nalgonda district of Andhra Pradesh.
The plant will have a capacity to produce 5,000 tonnes of packaged explosives a year. It is a new product from the company which specialises in producing a range of explosives to meet the requirements of mining and allied industries.
The product also has export potential said A.N. Gupta, Chairman and Managing Director of the Hyderabad-based company in a press release.
The plant was inaugurated by T.R. Thomas, Chief Controller of Explosives, Petroleum and Explosives Safety Organisation recently. The Deputy Chief Controller of Explosives V.K. Mishra was also present at the event.
Premier Explosives is also involved in developing specialised products for the Indian defence, space sectors such as solid fuel propellants. It is also into renewable energy sector developing green power-equivalent to grid power, the release added.
The company has set up production facilities for solid fuel to meet the demands of the country’s missile and satellite programmes.
August 28th, 2012, 09:39 AM
Solar Panel Maker Doubles Output As Prices Drop: Corporate India (http://www.bloomberg.com/news/2012-08-27/solar-panel-maker-doubles-output-as-prices-drop-corporate-india.html)
Surana Ventures Ltd. (SURA), an Indian maker of solar panels, is planning to double production after oversupply from Chinese manufacturers pushed prices down by almost 34 percent in the past year.
The company, based in the southern city of Hyderabad, plans to increase output of panels to 30 megawatts this year and invest 250 million rupees ($4.5 million) in a solar cell plant, Managing Director Narender Surana said in an interview. Rising demand for alternative energy driven by coal supply bottlenecks and blackouts may help reverse a slide in revenue, he said.
Surana is counting on one of the fastest-growing solar markets where larger local rivals including Moser Baer India Ltd. (MBI), the country’s biggest maker, and Indosolar Ltd. (ISLR) are struggling to cope with the crash in prices. Prime Minister Manmohan Singh’s government seeks to turn India into a global hub with rules to help almost triple manufacturing capacity to 5 gigawatts by 2020.
“The shortage in coal supply is a great opportunity for us as more and more people are looking at solar energy as a viable alternative,” Surana said. “As India’s energy needs rise, the shift towards solar power shall become more pronounced.”
Sales, which slid 29 percent in the year ended March 31 to 727 million rupees, may jump 38 percent in the current financial year to 1 billion rupees, Surana said.
Shares of the company have slumped 71 percent since touching 65 rupees on its debut in Mumbai on Jan. 7, 2011, according to data compiled by Bloomberg. The stock rose 0.3 percent to 19 rupees yesterday.
India is struggling to add electricity generation capacity to meet peak demand. Power cuts are common across the country, which battles an average 9 percent shortfall that the government says shaves about 1.2 percentage points off annual economic growth. The South Asian country has missed every annual capacity target since 1951, with 76,000 megawatts targeted for the five years ending March 2017.
A shortage of coal and gas used in conventional thermal plants has prompted the government to set a sun-power generation target of 20 gigawatts by 2022, a 20-fold increase. Welspun Energy Ltd., the country’s biggest developer of solar projects, said last month that the nation will surpass the target in the next decade by twofold.
The biggest panel suppliers including China’s Suntech Power Holdings Co. (STP) and Tempe, Arizona-based First Solar Inc. (FSLR) say India is about to become one of the fastest-growing solar markets, countering waning demand in Europe where governments are cutting back clean-energy subsidies.
Surana may be putting up the investment, anticipating such a surge in demand, even though solar-panel makers in India have almost 80 percent of their capacity lying idle now, said Bharat Bhushan, a New Delhi-based analyst for Bloomberg New Energy Finance.
India is soon set to release a 3 gigawatt capacity plan for the next four years and it will have a domestic content requirement, Bhushan said.
“The home market is the big hope for solar manufacturers in India,” Bhushan said. “The government has already been promoting the use of locally made cells and modules,” which will be extended in the next phase, he said.
First Solar, the only profitable panel maker among the 10 biggest in the world, plans to develop solar farms in India, with demand coming from industrial and commercial users without any government subsidies involved, Sujoy Ghosh, the India head of the world’s biggest thin-film panel maker, said last week.
A lot of investment planned for thermal projects will go to renewables, Welspun Energy’s Managing Director Vineet Mittal said last month. Indian power utilities have stalled plans to invest about $34 billion to build 42 gigawatts of capacity as coal output fails to meet demand.
The oversupply of solar panels has claimed at least 14 U.S., German and French makers, while prices have plunged 34 percent in the past year amid dwindling demand in Europe, the largest market for the equipment. Moser Baer said in May that it was revamping 35 billion rupees of secured debt and selling bonds to pay off dollar-convertible notes.
Surana faces the threat of competition from Chinese makers that are bigger in size and capacity, said Vishal Kothari, a power analyst at JHP Securities Pvt. in Mumbai, adding it will be difficult for a small company to succeed when bigger ones have failed.
“I don’t see any major growth in this sector as the cost of generation is too high and competition is too much,” said Kothari, who doesn’t have a rating for the stock. “Surana’s performance has been volatile historically.”
Surana Ventures was spun off from the solar business of Surana Telecom & Power Ltd. (SRTL) in November 2009 and started trading about a year later. Bhagyanagar India Ltd. (BHIL), the parent company, holds about 24 percent of the solar-panel maker, while the phone company owns about 18 percent.
Access to the group’s cash will allow Surana Ventures to buy raw materials from distressed European companies at half the cost, said Surana. Cash reserves and equivalent at Bhagyanagar rose sevenfold to 95 million rupees as of March 31 from 12 months earlier, according to data compiled by Bloomberg. Surana Ventures had 252 million rupees of debt in the period.
“This gives us an edge when we bid for contracts,” Surana said. “It also helps in pricing our products competitively.”
The company is also exploring opportunities after the country’s phone regulator this year recommended that carriers shift to renewable energy from diesel to power their communication towers, he said.
“With the cost of equipment coming down drastically, the cost of generating solar power has also fallen,” he said. “Solar is more attractive than other forms of alternative energy and we expect state governments to encourage setting up of projects as well. That will provide a big boost to us.”
August 29th, 2012, 04:36 PM
WINIT creates platform to manage apps (http://wrd.mydigitalfc.com/knowledge/winit-creates-platform-manage-apps-101)
Hyderabad-based mobile app strategy and development maker, is evolving a platform that will allow its clients be more engaged with their customers.
The new SaaS platform, which will bring in added revenues to the company on a monthly basis, will be ready shortly, according to Prakash Sreewastav, chief executive officer of Winit.
WINIT is working with enterprises across home automation, banking, restaurant, sports and education verticals and has so far developed over 250 applications and solutions for its clients primarily with to unlock the business potential to bring in higher customer engagement, enhance productivity and get better margins.
The company, which has about 200 personnel working for it, has been seeing about 100 per cent growth on year on year basis as more companies are preferring to have mobile presence too. It is hopeful of its revenues touching Rs 25 crore from the present Rs 13 crore by FY13.
“We have been in the app making space even before smart phones caught the fancy of users. We have several codes and frameworks that can be used again. Now, our focus is on creating IP,” he told Financial Chronicle.
The new platform will manage the apps after they go live and the clients will have a better control on the usage of the apps, he said adding that users tend to forget about an app in about ten days and therefore there is a need for the companies to engage constantly with the customers.
New as well as existing businesses are on the look out for having mobile presence as mobiles and tablets, not desktops and laptops, are tuning out to be the first and more intense touch points for customers. Also, feature phones will make way for smart phones.
“It is interesting to note that many Indian companies are more keen than ever before to get an app done for their businesses,” he said.
“If banking transactions can happen on mobiles and tablets there is no reason why other industries cannot move their data to a mobile platform,” he said adding that security issues are being ironed out.
The company, which has Schneider, Educomp, Jazeera Airways and others as its clients, is hopeful of travel and hospitality and retail industries, spurring the demand for mobile app strategies.
Citing a case study of a UAE-based retailer, for which it automated its supply chain and management application. The app enabled the company to deliver adequate products without overstocking as the orders are taken in real time. The earlier gadgets took the orders but was processed only at the end of the day resulting in a delay for a day, he said.
August 29th, 2012, 04:46 PM
Voter's verifiable paper audit trial system tested in Jaisalmer (http://timesofindia.indiatimes.com/city/jaipur/Voters-verifiable-paper-audit-trial-system-tested-in-Jaisalmer/articleshow/15948371.cms)
JAIPUR: Jaisalmer was among the five districts in the country selected for testing project of voter's verifiable paper audit trial system (VVPAT). Based on the experiences the Election Commission will decide to introduce the new machines in future elections in India.
To satisfy the voters that their vote has been correctly registered in the account of the party they selected, the election commission is mulling to generate electronic slips of the votes. To facilitate this new machines have been developed by the Bangalore and Hyderabad based companies.
"In VVPAT the selected option of the voter will flash on the screen for few seconds. This is to ensure voters that vote has gone to the candidate they opted for. Later a screen printout will be drop by the machine to authenticate it" said official of state election commission.
Apart from Jaisalmer, Leh, Cherapunji, Delhi and Trivandrum have been selected for the trial project.
To test the new machines, election commission organized a dummy election in Jaisalmer on August 11. Total 23,928 voters participated with 28 polling booths set up in 19 villages and 6 in district headquarters. All the polling stations during trial phase were intentionally selected at far off places to test the viability of the system in far flung places in India.
After the testing phase the officials of the election commission took feedback from the voters. These suggestions will later be conveyed to election commission in New Delhi. "If we find any glitches or receive some valuable suggestion we will incorporate it" added official.
August 30th, 2012, 03:05 PM
Deccan Chronicle shares gain 5% on strategic investor hopes (http://www.livemint.com/2012/08/29230727/Deccan-Chronicle-shares-gain-5.html)
Hyderabad: Shares of Deccan Chronicle Holdings Ltd (DCHL) rose 4.72% on Wednesday, extending a rally from its lifetime lows, as investors bet that a strategic investor would emerge soon to rescue the debt-laden publisher from its financial straits.
The stock gained 55 paise from the previous day’s close to end at Rs.13.30 on BSE Ltd on a day the benchmark Sensex fell 140.90 points, or 0.8%, to 17,490.81 points. The shares have gained 39% since plumbing a record low of Rs.9.55 on 17 August.
Analysts attributed the gain in the stock to investor anticipation that the Hyderabad-based publisher may be lining up a strategic investor.
Still, there hasn’t been any change on the stock’s outlook given the uncertainty about the state of its finances; the stock is 75% down from year-ago levels.
“We still maintain our negative outlook on the stock as the debt position is still not clear,” said Satish Kantheti, head of the equity research division at Hyderabad-based broker Zen Securities Ltd.
A person close to DCHL chairman T. Venkattram Reddy said the company was in the final stage of negotiations with a potential investor he identified as a South Indian consortium. Mint could not independently verify this.
“There will be a smooth ending and Deccan Chronicle is not going to die,” the person said.
Emails sent to Venkattram Reddy remained unanswered. Attempts to reach him on the the telephone were unsuccessful.
A spokesperson for Yes Bank Ltd, which has an exposure of Rs.144 crore to DCHL, said the company was engaged in “various efforts, including involvement of a strategic investor.” The spokesperson said the bank’s exposure to the company was adequately secured by immovable assets.
Emails sent to other lenders of DCHL remained unanswered.
DCHL, which publishes English-language newspapers Deccan Chronicle, Financial Chronicle,The Asian Age and Telugu daily Andhra Bhoomi, has been in crisis since a 25 July announcement that its managing director N. Krishnan had resigned.
The company’s proprietors —chairman Venkattram Reddy, his brother and vice-chairman T. Vinayak Ravi Reddy and vice-chairman (and new managing director) P.K. Iyer—who together held 73.83% of the company, then pledged a 54% stake to Future Capital Holdings Ltd to raise a Rs.170 crore loan.
Then followed news that financial institution IFCI Ltd had filed a petition in the Andhra Pradesh high court to wind up the operations of DCHL for failing to redeem non-convertible debentures worth about Rs.25 crore. On 31 July, Karvy Stock Broking Ltd (KSBL), which provides depository services, filed a complaint with the Central Crime Station in Hyderabad alleging that the publisher’s promoters forged documents to misrepresent the total number of shares they held in order to raise loans.
Analysts have blamed the troubles of DCHL, which also owns the Indian Premier League franchise Deccan Chargers, and a chain of book stores under the Odyssey brand name, on its rapid diversification into areas outside of its main business of publishing. The company also ventured unsuccessfully into aviation.
Based on Registrar of Companies data posted on the ministry of corporate affairs website, the company has debt of more than Rs.1,500 crore, most of which has come on its books in the past few months.
DCHL promoters have been trying to sell non-core assets that include the IPL franchise and the Odyssey bookstore chain.
August 30th, 2012, 03:17 PM
Zen Money launches real estate services arm (http://www.thehindubusinessline.com/news/real-estate/article3836369.ece)
HYDERABAD, AUG. 29:
Zen Money, the Hyderabad-based financial services company, has launched its integrated real estate services arm, Zen Spaces.
Part of the Zen Group, the new services aims to assist clients in investing prudently in real estate and managing their real estate portfolio efficiently.
The integrated services include advisory, transactional and management services covering the full spectrum of real estate services such as buying property to selling and renting/leasing assistance, and finally, property management, said Pratap Kantheti, Managing Director, Zen Spaces.
The services will be available in Hyderabad and soon be introduced in Visakhapatnam, a press release said. Zen Spaces will offer standard as well as customised real estate services based on various factors such as investment objective, time horizon etc, a press release said.
The Zen Group, founded by late Ravindra Babu with over 26 years into financial services, has a pan-India network of 150 branches/associates and a 70,000 strong customer base, the release added.
August 30th, 2012, 03:27 PM
iHomes Launches a New Website (http://www.sbwire.com/press-releases/ihomes-launches-a-new-website-161186.htm)
Hyderabad, Andhra Pradesh -- (SBWIRE) -- 08/29/2012 -- iHomes, a Hyderabad based interior design and architecture company gets a new website, http://www.ihomesinteriors.com. This website will be helpful for the people who wish to be customers of this company.
iHomes is an interior designing company that also specializes as an architecture firm. It provides for cost- effective interior design courses that are also high quality and unique. They work with the clients to find unique interior design solutions for the client. Since its inception in 2007, the company has launched a lot of successful projects around the country.
They offer a lot of important services through which a person can lay the outline of their house and enhance it as well. They provide people with residential as well as commercial interior design, including floor plan, furniture design, lighting concepts, wall design, bathroom and kitchen design etc. They do provide modular kitchen services that are affordable and also ergonomic. The modular kitchen would be of high quality and provide optimal space for storage as well. Woodworking services are also offered- the kind of woodwork will be determined by the person’s personal choice. Woodwork for cabinets, beds, floorings wardrobes etc. is done.
All of this are related to residential areas. The company does provide interior design services for commercial areas as well. Corporate interior design would have to be done differently, to suit the needs of companies and not residences. The company offers interior design solutions for retail, hospitality and commercial institutions. They do workspace planning, modular workspaces, networking, filing and storage solutions, air conditioning solution, security systems, reception furniture, etc.
People who are interested in getting any of the services offered by the iHomes company can get in touch with the company as soon as they can. They will be able to discuss their options with the company, to come up with the interior design company they want. They do make good designs and implement it well as well, so people who are looking for good interior design companies in Hyderabad have come to the right place. Get in touch with http://www.ihomesinteriors.com.
August 31st, 2012, 02:11 PM
Tech Mahindra shares fall on BT stake sale; Satyam loses 1.93% (http://www.livemint.com/2012/08/30200559/Tech-Mahindra-shares-fall-on-B.html?h=A1)
London / Mumbai / Hyderabad: Shares of Tech Mahindra tumbled on Thursday after BT Group Plc sold part of its stake in the computer services company to institutional investors, raising Rs. 1,390 crore, and said it may sell more.
Tech Mahindra fell 5.2% to Rs. 792.15 on BSE on a day the benchmark Sensex rose 0.29% to 17,541.64 points.
The UK’s largest fixed-line phone company sold a 14.1% stake, or 17.9 million shares, in Tech Mahindra at an average price of Rs. 777.73 per share, BT said in a statement on Thursday.
Tech Mahindra’s campus in Pune. Photo: Hemant Mishra/Mint
BT, which said Tech Mahindra will remain a key supplier to the company, now holds 9.1% of the software company. BT sold a 5.5% stake in Tech Mahindra to automobile maker Mahindra & Mahindra Ltd in December 2010 for Rs. 450 crore.
Credit Suisse Group AG and JPMorgan Chase and Co. managed the sale, said a person with knowledge of the matter, who declined to be named because the information wasn’t public.
A Tech Mahindra spokesperson declined to comment.
BT’s exit will not affect the business of Tech Mahindra “as this was on the cards for a long time”, said Ankita Somani, analyst, information technology and telecom, Angel Broking Ltd. BT is a major customer for Tech Mahindra. The net value of services purchased by BT from Tech Mahindra in the fiscal ended March 2011 was Ł258 million, and Ł301 million in the year prior.
“BT used to contribute around 35% to overall Tech Mahindra’s revenues, but since the last one year, growth in this segment has been flat,” Somani said. “Growth for Tech Mahindra is coming from non-BT business so we do not see any impact on existing operations of Tech Mahindra.”
The share prices of Satyam Computer Services Ltd, in which Tech Mahindra holds a 42.64% stake, also fell 1.93% to Rs. 93.95 following reports that a $125 million class-action suit that the firm had settled in a US district court in February 2011 was taxable in India.
The Authority for Advanced Rulings on 27 August said Satyam will have to deduct 30% of the total amount.
Tech Mahindra is merging Satyam with itself, buying the remaining stake in the Hyderabad-based firm in an all-stock transaction.
A Satyam spokesperson declined to comment on the matter. The settlement amount had been deposited in an escrow account (typically money held by a third party on behalf of the transacting entities), Satyam said in its annual report.
“The balance amount of $101 million (equivalent to Rs. 451.53 crore) would be remitted to the class members after the determination of the applicability of withholding tax by the Authority For Advanced Rulings,” the company said while announcing annual results for 2012-13 on 17 May.
Another settlement Satyam reached with Upaid Systems Ltd in the US for $70 million was also taxed. Satyam paid $59 million plus interest to Upaid in February 2012, deducting applicable withholding taxes in India.
Satyam can appeal against taxes imposed on the class-action suit, according to Gaurang Shah, assistant vice-president at Geojit BNP Paribas Financial Services Ltd, a brokerage.
Somani said if the class action law suit settlement was taxable, “there will be an outgo of cash from Satyam and Tech Mahindra. A one-time hit on the profitability cannot be ruled out.”
“Currently, we are just seeing a knee-jerk reaction on the stock which is slightly negative for shareholders,” she said. “Long-term operations continue to remain intact.”
August 31st, 2012, 02:13 PM
New initiative to train tribal farmers to boost oilseeds production (http://www.thehindubusinessline.com/news/states/article3843915.ece)
HYDERABAD, AUG 31:
In an effort to boost oilseeds production, an initiative to train tribal farmers has been launched by the Directorate of Oilseed Research, Hyderabad.
A tribal sub plan has been firmed up recently. The emphasis is on taking tribal farmers to farms and laboratories to expose them to improved production technologies.
To begin with castor has been taken up, said K.S. Varaprasad, Project Director of the Directorate.
The objective is to enhance the income-levels of the tribal families. Select villages in Andhra Pradesh and some tribal villages in the country have been involved in the project.
The Hyderabad-based Directorate under the Indian Council of Agricultural Research is focussed on castor, sunflower and safflower production. It has come up with a wide range of varieties that are being cultivated across the country.
To further popularise some of these technologies among farmers, the Directorate is organising a farmer’s day on September 2 at its campus. Queries of farmers would be answered by scientists and state government agriculture officials.
An exhibition of inputs, equipment and seed, with the participation of private companies has also been planned, he said.
The country’s oilseeds production is set to touch 30 million tonnes during the year 2011-12 as per indications, the Oilseed Research Directorate said in a press release.
The production stood at 25.45 million tonnes in 2010-11. Bulk of this came from groundnut (5.8 mt), rapeseed mustard (7.1 mt) and soyabean (9.5 mt).
India is among the largest producers of oilseeds in the world. The present monsoon deficit across the country may hit the oilseeds and pulses crops, says the Agriculture Ministry.
September 1st, 2012, 04:26 AM
Morf India plans to expand in South
HYDERABAD, AUG. 31:
Morf India Limited plans to expand its presence in South India with its new range of water purifiers marketed under the licensing agreement with Electrolux Home Products.
These are marketed under the Kelvinator range of home appliances. This enables the company to have access to a large network of channel partners.
The company, which offers customised water and sewerage treatment solutions and markets water purifiers, is looking at fund infusion to meet its next phase of expansion. "We plan to spread our presence in the South Indian states by the year end and then go pan India," M V Praveen, Managing Director of Morf India, said.
Addressing a press conference here after the introduction of their products here, he said that the water treatment business in the country is posed to grow by five times to about $5 billion by 2015-16 offering immense scope to offer both customised solutions and mass produced water treatment products.
The company introduced its first model of Kelvinator water purifiers in Chennai in June and plans to add more products as it steps out to new markets.
"We plan to bring out new water treatment products every six months and are set to invest additional funds to meet this requirement," he said.
"As a part of the company’s fund-infusion plan, we are in talks with couple of private equity players and expect to close the deal by December this year. We may also consider part divestment of stake at a later date to the partner," he said.
September 3rd, 2012, 09:59 AM
Technology, the wealth for health (http://postnoon.com/2012/09/02/technology-the-wealth-for-health/69932)
Hyderabad-based Apollo Hospitals Group will set up 10 telemedicine clinics abroad. At the ‘3rd International Conference on Transforming Healthcare with Information Technology’ on Friday, Group Chairman Prathap C Reddy said the proposed telemedicine clinics would come up in Ghana, Nigeria, Oman and Abu Dhabi, among others.
In the conference, K Ganapathy, president, Telemedicine Society of India, urged the Government of India to allow the private sector into the network of National Knowledge Network (NKN).
Telemedicine Programme is an innovative process of synergising benefits of satellite communication technology and information technology with biomedical engineering and medical sciences to deliver health care services to remote, distant and under-served regions of the country.
Providing healthcare to India’s over one billion population of which about 75 per cent live in villages, is a formidable task. About 75 per cent of the doctors practice in urban areas and 23 per cent in semi-urban areas. This leaves just 2 per cent of qualified doctors, who are attached to about 23,000 primary health and 3,000 community health centres, to attend to 70 per cent of the population living in villages!
The Hyderabad conference pointed out that 80 per cent of doctors live in urban areas, while 80 per cent of the population lived in rural areas and the challenge was to bridge this gap using technology.
To improve healthcare services in remote parts of the country, the Planning Commission has suggested adopting telemedicine by using software applications such as Skype in its report on health for the 12th Five-Year plan.
According to an article in the Business Standard in April 2012, the Indian telemedicine market is estimated to be $7.5 million and is expected to grow at a rate of around 20 per cent over the next five years. It is estimated that 1.5 lakh people are benefited through telemedicine every year.
In March 2012, Saudi Arabia sought the help of Bangalore’s Narayana Hrudayalaya (cardiac hospital) in setting up a telemedicine centre in Riyadh for providing remote healthcare to its citizens in the desert country.
In the village of Hari Ke Kalan, in Punjab, residents who bicycle to a new health clinic started there, can get an appointment with a physician appearing on a large-screen television beamed over broadband Internet. The clinic, built by a start-up called Healthpoint Services, is one of a network of eight ‘e-health points’ that the for-profit company has built in India as part of a growing effort by entrepreneurs to capitalise on the rapid expansion of cellular and broadband access in the developing parts of the world.
Chakrajmal village, in Bijnor district in Uttar Pradesh, got its first doctor in 2008. He was not based in the village, though. The villagers had access to the doctor via a telemedicine project launched by World Health Partners (WHP) to provide health care services to 1,000 villages in Uttar Pradesh’s Bijnor, Meerut and Muzaffarnagar districts. Gopi Gopalakrishnan, founder-president of WHP, is replicating this model in Bihar.
Telemedicine is a crucial element in the development of Africa healthcare services, where like other poor nations the ratios of doctors to patients are abysmal. As all towns and villages are accessible by cars, use of telemedicine saves time and lives.
Telemedicine and tele-health have the potential to increase access to care, improve quality of care and decrease costs. For instance, the American Telemedicine Association proposed a legislation that would expand telemedicine and save an estimated $186 million over the next 10 years.
Physicians should get more involved in telemedicine, enterprise software expert and former technology company executive Shahid Shah said on his Health IT Guy blog. And they don’t necessarily need expensive equipment to do so. For example, Shah noted, physicians can use widely available web meeting and online video tools to connect with patients in remote areas.
Availability, affordability and accessibility of healthcare can be bridged big time with the latest technology.
September 5th, 2012, 12:04 PM
Pennar bets big on pre-engineered buildings arm (http://www.business-standard.com/india/news/pennar-bets-bigpre-engineered-buildings-arm/485354/)
Hyderabad-based Pennar Industries Limited (PIL) is betting big on its pre-engineered buildings subsidiary, which recorded over 68 per cent growth and contributed 20 per cent to the net revenues in 2011-12.
Last year, Pennar Engineered Building Systems (PEBS) executed 78 projects and posted revenues and net profit of Rs 279 crore and Rs 10.4 crore respectively.
PEBS executive director, PV Rao, told Business Standard that the subsidiary, engaged in design, fabrication and erection of pre-engineered steel buildings, had targeted a turnover of Rs 350 crore in the current year and Rs 1,000 crore in the next five years.
PEBS contribution to the Pennar group is going to be significant considering PIL’s gross sales and net profit during the first quarter of the current year declined 5.6 per cent and 43.8 per cent respectively. PIL recorded a turnover of Rs 329 crore and a net profit of Rs 10.9 crore in the quarter ended June 2012 as against a turnover of Rs 348.7 crore and a profit of Rs 19.4 crore posted during the same quarter in the previous year.
PEBS is now planning to construct a second plant in north India with an initial investment of Rs 50 crore. The capacity of the new plant is expected to be 30,000 tonnes per annum (tpa). Its existing plant in Hyderabad has a capacity of 90,000 tpa.
“Currently, we are not able to penetrate north as well as Gujarat markets in view of freight disadvantage. That is why we are planning to construct our second plant in Rajasthan or Gujarat. We are also looking for expansion through the inorganic route in the north,” Rao said.
According to Rao, transportation of material from its existing unit to the northern markets will cost about Rs 6,000 a tonne. Besides, it will take 7-10 days to send the material. Hence, the company cannot be competitive to execute works in north India.
Keeping this in view, PEBS is looking for industrial lands developed by government in the north for setting up a greenfield facility. The plant is most likely to be located in Gujarat, which has ports that facilitate exports. “Alternatively, we are also looking at suitable companies in Rajasthan and Gujarat for acquisition,” Rao said.
PEBS, which has a technical collaboration with the NCI Group of the US, is stated be having an engineering team comprising 25 experienced structural engineers.
“Our fundamental strength lies in our engineering capability and in our project execution capability,” Rao said, adding this was the reason behind PEBS having a blue-chip clientele within a short period of three years of its inception.
On Tuesday, PEBS clientele include L&T, UltraTech, ACC, ABB, Schneider Electric, Dr Reddy's, Bosch, Toyota, HCC and JSW. It is currently executing a 450,000-sft building for Reliance’s national distribution centre at Pune. L&T has rated PEBS as the preferred vendor for its projects across the country.
September 5th, 2012, 10:37 PM
Raju kin oppose Mahindra Satyam with Tech Mahindra merger (http://timesofindia.indiatimes.com/city/hyderabad/Raju-kin-oppose-Mahindra-Satyam-with-Tech-Mahindra-merger/articleshow/16271686.cms)
HYDERABAD: Justice Ramesh Ranganathan of the AP high court on Wednesday posted to two weeks hearing on the petitions filed by real estate companies floated by kin of Satyam founder Ramalinga Raju as well as that of the Infrastructure Leasing & Financial Services (IL&FS) which are opposing the amalgamation of Mahindra Satyam with Tech Mahindra.
The companies numbering 37 urged the court to reject the amalgamation as it did not say anything about how it would repay the Rs 1,230 crore loans advanced by them to the erstwhile Satyam Computers.
"Nor did it recognize us as unsecured creditors," the companies maintained. Mahendra Satyam management has been using the pretext of an alleged advise rendered by Enforcement Directorate and has been showing the same as 'Amounts Pending Investigation Suspense Account' though no such advise was rendered by the ED in reality, the companies maintained in their petition and urged the court to direct Mahendra Satyam to produce before the court any such letter written by ED. The Raju companies also sought a direction to MSat to conduct a meeting of its unsecured creditors and obtain their views on the amalgamation.
September 5th, 2012, 11:06 PM
Divi's Laboratories denies stake sale buzz (http://business-standard.com/india/news/divis-laboratories-denies-stake-sale-buzz/485541/)
Hyderabad-based Divi’s Laboratories Limited has strongly denied the rumours of a promoters' stake sale in the company, saying there have been no talks on this either with Pfizer or any other entity.
This is the second time the company is in news in the last 10 days. It had to issue a clarification on a rumour about balance-sheet-related issues on August 28, the day when Divi's share price fell 4.52 per cent.
The company believes these to be the handiwork of some elements in the market.
On Wednesday, the market was abuzz with rumours that Pfizer was in talks to buy out promoters' stake in Divi's at Rs 1,450 a share. This is "totally unfounded," said L Kishore Babu, chief financial officer of the company.
The company's scrip on Wednesday closed Rs 8.35 higher at Rs 1,121.45, after touching the intra-day high of Rs 1,138.15 on the BSE.
"Promoters hold 53-54 per cent stake in the company, which has remained the same since 1995. Not a single share had been pledged and there is no obligation on the promoters' part to divest a single share to anyone," Kishore Babu told Business Standard.
The promoters strongly believe they will take the company to further heights, he said.
Founded in 1990, Divi's Laboratories has emerged as a strong player in the areas of active pharmaceutical ingredients (APIs) and advanced intermediaries, including custom manufacturing.
Divi's reported a top line of Rs 1,910.7 crore and a net profit of Rs 545.97 crore in the financial year 2011-12.
The company, in its last clarification on the alleged accounting issues, said it was financially comfortable with cash reserves of Rs 500 crore. "Promoters had not even touched their share of dividend amounting to Rs 200 crore, and have no reason to divest their stake," a company insider said.
September 8th, 2012, 03:02 PM
ECIL to back study on universe evolution (http://timesofindia.indiatimes.com/city/hyderabad/ECIL-to-back-study-on-universe-evolution/articleshow/16303793.cms)
HYDERABAD: The Electronics Corporation of India Limited (ECIL), Hyderabad, will contribute for studying the building blocks of matter and the evolution of universe. It will supply power converters to the Facility for Antiproton and Ion Research (Fair), an international science centre at Darmstadt near Frankfurt in Germany.
'Fair' is a highly sophisticated accelerator complex which will provide high-energy, precisely-tailored beams of antiprotons (the 'antimatter' versions of protons with opposite electric charge) and many kinds of ions (atoms with most of their electrons stripped away) at unprecedented quality and intensities.
On Saturday, a bilateral contract will be signed by Bose Institute, Kolkata and ECIL for supplying the power converters to 'Fair' in the presence of T Ramasami, secretary, department of science and technology. Bose Institute, Kolkata, founded by JC Bose, is an autonomous R&D institute under the department of science and technology. It
has been designated as the Indian shareholder in 'Fair' and is the nodal Indian institute for the management of 'Fair' programme.
The programme is supported through extra-mural fund at Bose Institute and is jointly implemented by Bose Institute and Variable Energy Cyclotron Centre, Kolkata along with many other R&D institutions and universities.
The 'Fair' facility in Germany consists of carefully designed configuration of interlinked machines for accelerating and storing high-quality beams and creating new particles by colliding or bombarding the beams on targets for a wide range of experiments.
'Fair' is being built through international collaboration for which India is a major partner. Other contributing nations include Austria, China, Finland, France, Germany, Great Britain, Greece, Italy, Poland, Romania, Russia, Slovenia, Slovakia, Spain and Sweden.
India will be contributing around 36 million euros for 'Fair', which provides an opportunity for Indian scientists, engineers and industry to work in this unique high technology project.
ECIL which is a public sector enterprise under the department of atomic energy (DAE) provides cutting-edge technology solutions to atomic energy, defence, aerospace and homeland security sectors. The corporation has also provided equipment and services to the Large Hadron Collider (LHC) at CERN ( European Organisation for Nuclear Research), General under CERN-DAE collaboration.
September 8th, 2012, 03:03 PM
Bartronics India wraps up reorganisation exercise (http://timesofindia.indiatimes.com/city/hyderabad/Bartronics-India-wraps-up-reorganisation-exercise/articleshow/16299663.cms)
HYDERABAD: Beleaguered Hyderabad-based automatic identification and data capture (AIDC) solutions provider Bartronics India Limited on Friday said that it had completed the re-organisation process.
According to the company, the decision to reorganize its operations was taken to have clearly defined business lines and address efficiently the opportunities provided by each of these business units.
As part of the rejig, the loss-making listed Indian company has reorganized both its domestic and international operations. While the company's international operations are now headquartered out of Singapore, its American entity would now become a subsidiary of Bartronics Asia.
In addition to this, a separate subsidiary called Bartronics Global Solutions Limited has been set up as an off-shore development centre to cater to international operations, the company informed the bourses.
The company has revamped its Indian operations into Bartronics identification solutions division, Bartronics financial inclusion division and Bartronics e-governance division. While the identification solutions division would include the business of providing solutions using AIDC technologies along with manufacture of smart cards, the financial inclusion division will include all projects that the company has one in the field of financial inclusion, the company said, adding that the e-governance division would focus on e-governance projects.
Bartronics, which was set up in 1990 in Hyderabad as a bar code solutions provider, has been making losses over the past few quarters and has even extended its financial year 2011-12 by six months upto September 2012. The company posted a net loss of around Rs 26 crore for the quarter ended June 30, 2012, on a total income of Rs 100 crore as against profits of around Rs 31 crore during the quarter ended June 2011 on a total income of Rs 262.32 crore.
The company today designs technology enabled solutions across technology consulting, hardware and RFID tag manufacturing, custom software development, product engineering, systems integration as well as business process outsourcing and has a manufacturing facility at Medhal in Ranga Reddy district of Andhra Pradesh with a capacity to manufacture 100 million smart cards per annum. The Bartronics scrip closed 2.24% up at Rs 22.85 on the Bombay Stock Exchange on Friday.
September 8th, 2012, 07:52 PM
Amara Raja bags Quality Circle award (http://www.thehindubusinessline.com/companies/article3874733.ece?ref=wl_opinion)
HYDERABAD, SEPT. 8:
Amara Raja Batteries Ltd has been conferred the award for “Best organisation supporting Quality Circle movement” from Quality Circle Forum of India, Hyderabad. The company has won this award for the year 2012 for the third consecutive time.
Jayadev Galla, Managing Director, said, “At Amara Raja Batteries, we believe that quality management is a pre-requisite to achieve excellence in whatever we do. Awards like these underscore our focus on Quality Management as an important activity for us and motivate us to perform better.”
September 9th, 2012, 08:14 PM
Medvarsity in re-seller tie-ups with overseas players (http://www.business-standard.com/india/news/medvarsity-in-re-seller-tie-upsoverseas-players/485853/)
Hyderabad-headquartered Medvarsity, a medical e-learning initiative by the Apollo Hospitals Group, has entered the overseas market, including Africa and Bangladesh, by forming re-selling partnerships with local medical service providers there.
“The African market is huge and encouraging. We have entered into a re-seller partnership with Global Projects, represented by Dr Wale, to market our products in Ghana and Nigeria among others,” Sanjiv Zutshi, chief executive officer, Apollo Medvarsity, said.
Apollo already has a hospital in Bangladesh and “we will venture into that market,” he added
For the Indian markets, the company sells its courses/products through multiple channels and spends around 20 per cent of the budget on marketing. "For the overseas markets, there will be no investment required and the partnership will be on a revenue-sharing model,” he said.
The company is also looking at partnering an Indian education player to develop medical course. "We are in initial discussion with a major educational player and would tie up during December-January," he said. It has already partnered IndiaCan and NIIT to develop a diploma course in hospital operation management.
It is planning to pilot-launch an initiative ‘DigiMed’ — which provides digitised course curriculum for medical colleges, with Apollo Hospital in September this year.
“We are planning to tie up with 10 medical colleges by March 2013 to digitise their course content,” he added.
September 10th, 2012, 08:56 AM
India's second school of mines to come up in northeast (http://india.nydailynews.com/business/d86c2f53f33bf6cc96134de0eb601b2e/india-s-second-school-of-mines-to-come-up-in-northeast)
New Delhi, Sep 9 — Even as irregularities in coal mining hits the headlines, India's second school of mines is being set up in the country's northeast in collaboration with the government of Queensland, Australia to provide skilled manpower for the growing needs of the mining industry.
"We now have an understanding specifically on setting up a school of mines in India," Rod Solomon, Trade and Investment Commisioner of Queensland, told IANS. This, he said, followed talks with the Indian government on cooperation in the field of vocational education.
Solomon declined to disclose the exact location of the school. He only said it would be set up in "one of the northeastern states."
Probed further, he said, "We (Oueensland state) are not going to actually build it (school). Somebody else will build the infrastructure. The understanding is that we will bring in the curricula and the trainers to provide the education."
The only school of mines in India is the Indian School of Mines in Dhanbad in Jharkhand, which was established in 1926 by the then British colonial government. The news of a second school of mines comes days after Hyderabad-based infrastructure company GVK received crucial Australian federal government clearance for a coal mine and railway project in Queensland.
Environmental clearance for GVK's Alpha Coal and Alpha West projects were halted in June after differences arose over its impact on Australia's Great Barrier Reef between the Australian and Queensland governments. GVK can now start implementing the $10.47 billion Alpha coal and rail project that would also allow the group to take up power projects in India based on Australian coal.
For all this GVK would need skilled manpower, like 20,000 to 30,000 people for the project. "In view of all this, we've been talking to the Indian government for some time for an overall memorandum of understanding (MOU) for organising vocational education for multiple sectors in India. The accord on a second school of mines is a result of this."
Solomon said the new push out of India is towards thermal coal for increased power production. Groups like the Adani Enterprises of Gujarat and GVK are acquiring large mining interests in Australia.
"In opening up these new mines they need to build infrastructure. GVK, for instance, will build a 490 km railway line from the Galilee Basin (Queensland) to the port at Abbot point as part of a pit-to-port project," he said.
GVK paid $1.26 billion last year to acquire 79 percent stake in the Alpha Coal and Alpha West projects and a 100 percent stake in the Kevin's Corner project in Queensland from Hancock Prospecting Pty Ltd.
The projects hold coal reserves of eight billion tonnes and can produce 80 million tonnes per annum (mtpa) at peak capacity. The Alpha Coal project has a mine life of at least 30 years and a capacity of 32 mtpa.
Adani Enterprises plans to start digging its $10 billion Carmichael coal mine in Galilee in mid-2013.
September 10th, 2012, 05:13 PM
IVRCL aims to get back Rs 1,000 crore equity, retire Rs 2,400 crore debt (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/construction/ivrcl-aims-to-get-back-rs-1000-crore-equity-retire-rs-2400-crore-debt/articleshow/16339260.cms)
After a disappointing 15-month year ended June that saw it incurring Rs 124 crore of loss, infrastructure firm IVRCL has chalked out a multi-pronged strategy that includes a holiday from bidding for new road BOT projects to stay afloat, said chairman E. Sudhir Reddy.
"The strategy includes staying away from bidding for new BOT road projects for 3-6 months, monetising existing road projects and real estate assets, downsizing the manpower, spreading the construction business to overseas markets, strengthening manufacturing operations and focus on large amount of receivables," said Reddy.
Addressing the media in Hyderabad on Monday, he cited problems in national highway projects such as delays in land acquisition, right of way, cautious approach of lenders and delayed payments as some of the reasons to go in for holiday. He said the period of holiday could be further extended based on the then prevailing market conditions.
"Meanwhile, we will complete the existing road projects in the order book and keep monetizing as and when they are completed and begin toll collections. This will help us get back our equity and transfer the debt burden into the books of the buyers," said Reddy.
The company is targeting to expand its construction business to overseas markets, aiming to report at least 50% of its revenue from overseas operations in 4-5 years, he said. At present, the company does not earn anything from overseas construction business.
The IVRCL Group Chief Financial Officer and Executive Director R. Balarami Reddy said the company has already sold its stake in one of the road projects during last quarter for Rs 231 crore with a profit of Rs 117 crore. The company is looking at selling its equity in three of the completed road projects in Tamil Nadu and is also considering selling three more road projects in other parts of the country. "We expect to get back around Rs 1,000 crore of equity and retire a debt of around Rs 2,400 crore by selling these six road projects," he said.
At present, the company has a debt burden of around Rs 5,200 crore on a consolidated basis and the company incurred finance costs of Rs 731 crore for the 15-month period ended June. In all, IVRCL has invested Rs 1,600 crore of equity in assets that include 10 road projects, a desalination project and an oil tankages project.
On the strategy of pruning down the employee force, Balarami Reddy said the company has already reduced the size by around 15% over the last six months and may go for next round of downsizing if the economy didn't revive in another quarter or so. IVRCL with around 5,000 employees now incurs an expense of around Rs 200 crore a year towards wages.
Further, Balarami Reddy said efforts were also on to realize regular receivables around Rs 1,000 crore of which around Rs 600 crore were blocked from various agencies owing to disputes.
On Monday, the IVRCL stock lost 1.53% to close at Rs 38.70 on BSE, whose benchmark Sensex gained 17 points at 17,766 points.
September 10th, 2012, 05:30 PM
Nimsoft Partner Olive Solutions Provides A.P. Mahesh Bank Powerful, Easy-To-Own IT Monitoring and Service Management Capabilities (http://www.marketwatch.com/story/nimsoft-partner-olive-solutions-provides-ap-mahesh-bank-powerful-easy-to-own-it-monitoring-and-service-management-capabilities-2012-09-10)
Industry-leading Cloud Solution Enables India's Premier Banking Co-operative to Improve Service Availability and Customer Satisfaction
CAMPBELL, Calif., Sep 10, 2012 (BUSINESS WIRE) -- Nimsoft today announced that Olive Solutions, an India-based managed service provider (MSP), has brought the benefits of Nimsoft Monitor and Nimsoft Service Desk to the A.P. Mahesh Co-operative Urban Bank Ltd., Hyderabad.
Click to Tweet: Olive Solutions brings the benefits of Nimsoft Monitor and Nimsoft Service Desk to AP Mahesh Bank #ITSM http://bit.ly/OUdsxw
With 39 branches across the country, the A.P. Mahesh Co-operative Urban Bank Ltd. is India's premier co-operative financial institution with diversified banking products. Managing a large compliment of infrastructure across the numerous datacenters serving these branches was a major challenge.
"We were looking for a unified monitoring and service desk solution that could provide us with a 360-degree view of our entire IT infrastructure," said Mr. Milind Rajhans, IT head at A.P. Mahesh Bank. "Olive Solutions suggested Nimsoft for the 24/7 monitoring and real-time alerting and reporting we needed to achieve continuous IT service availability."
Olive Solutions deployed Nimsoft Monitor and Service Desk at A.P. Mahesh Bank to manage devices across branches using a single, unified solution. Deploying the Nimsoft solutions resulted in tangible cost savings and process efficiency, and helped the bank improve customer service by increasing application uptime and accelerating problem resolution. Insight into mission-critical systems and applications also enabled the bank's IT staff to achieve higher system performance and availability.
Olive Solutions began offering Nimsoft to its customers earlier this year. The combination of industry-leading infrastructure monitoring and ready- to-use ITIL(R)-based service management enables Nimsoft to provide comprehensive infrastructure coverage, streamlined automation and easy integration with third-party tools to MSPs like Olive.
"Olive relies on Nimsoft to provide a first line of defense for its customers against IT service outages," said Mr. Chandrashekar, Olive Solutions COO. "A one-size-fits-all approach would not work for us. Nimsoft enables us to provide individual clients a tailored, responsive service--without having to reinvent the wheel every time."
"Companies are embracing Nimsoft ITMaaS solutions as a way of reducing costs, increasing business agility and allocating a larger percentage of IT resources to strategic projects," said Mark Frost, general manager, Nimsoft. "We continue to explore new ways to support companies like Olive Solutions and A.P. Mahesh Bank in delivering the best possible value to their customers."
About The A.P. Mahesh Coop Urban Bank Ltd., Hyderabad-India
A.P. Mahesh Co-operative Urban Bank Limited is India's premier Urban Co-operative Banking Institution. The Bank has attained this premier position without compromising the spirit of co-operative principles, while at the same time striving to assimilate and implement newer methods of work organization and management, with a firm commitment to its objectives. Registered as a Primary Co-operative Society in June, 1977, the Bank commenced its operations in 1978.Mahesh Bank has 39 branches--31 in the twin cities of Hyderabad and Secunderabad and one each at Khammam, Vijayawada, Guntur, Rajahmundry, Visakhapatnam, Warangal in Andhra Pradesh., Jaipur in Rajasthan and Mumbai in Maharashtra. For more information, visit http://www.apmaheshbank.com/
About Olive Solutions
Olive Solutions has been established by an experienced team who worked in Information technology and have more than 25 years of core expertise in IT infrastructure, data center design and operations, managed services and remote infra management. Olive's mission is to advance the performance of our clients by offering innovative solutions that deliver measurable business value. Through its service lines Hi-end technologies, Consulting, Systems Integration and Managed Operations and its deep industry knowledge, Olive is able to provide innovative and individually tailored end-to-end IT solutions.
September 11th, 2012, 03:37 PM
Mahindra Satyam set to treble staff in China by 2015 (http://www.business-standard.com/india/news/mahindra-satyam-set-to-treble-staff-in-china-by-2015/186158/on)
Employee ramp-up part of the company's strategic focus on engineering, manufacturing, telecom sectors
Hyderabad-based consulting and IT services provider, Mahindra Satyam, will be trebling the number of its associates (as the company's employees are called) in China to 1,500 by 2015. The employee ramp-up plan is part of the company's strategic focus on the engineering and manufacturing and telecom sectors, while using China as a base to serve its global clients.
Mahindra Satyam, which had set up its operations in China in 2002, and its parent Tech Mahindra have global delivery centres at Shanghai and Nanjing in China.
In the first quarter ended June 2012, the company added 2,643 associates, taking its total headcount to 35,996. The average employee utilisation, both onsite and offshore, was at 76%.
“Chinese universities are producing a high number of quality engineers each year. We are impressed by the level of skills, expertise and the willingness to learn. -- the qualities we will build upon as we expand our operations in China. There exists a great opportunity to combine the software capabilities of India and manufacturing excellence of China to herald a new chapter in the economic transformation of Asia,” said Amitava Ghosh, vice-president and head (north Asia) of Mahindra Satyam.
Mahindra Satyam intends to focus on very specific verticals such as manufacturing, engineering and telecom in China, and will also explore strategic alliances and partnerships with Chinese companies to leapfrog its growth within China and to increase its near-shoring support of Japanese clients, according to Rohit Gandhi, senior vice-president (Asia-Pacific, India, West Asia and Africa), Mahindra Satyam.
“China will be a critical pillar of our regional and global strategy. The region will increase its revenue contribution from the current 24% in view of the size of Chinese economy and specific opportunities which we have identified,” Gandhi said.
China’s telecom sector has yet to experience the transformation which unifies fixed-line, mobile and data services into a seamless offering. Mahindra Satyam and Tech Mahindra have helped global and regional telecom giants such as British Telecom achieve this transformation in front-end customer interface and back-end integration and billing, and are keen to help Chinese telecom companies in this aspect, he added.
Mahindra Satyam’s scrip is currently trading at Rs 103 on the Bombay Stock Exchange, up 0.64%, over the previous close of Rs 102.35.
September 11th, 2012, 03:42 PM
VAS TOP 10: #2 IMImobile - Smart Moves (http://voicendata.ciol.com/content/vas/112091101.asp)
Wading fearlessly through the highly competitive Indian telecommunications industry that is marred with ever-increasing controversies and challenges, IMImobile, under the leadership of Vishwanath Alluri, is expanding rapidly both organically and inorganically.
Its strong foothold over operators as well as enterprises gave the company a good revenue growth of around 35%, taking the total tally of `310 crore in FY11 to `440 crore in FY12.
With successful technological innovations and global acceptance, the Hyderabad based company that pioneered the managed VAS model, today boasts of a wide range of product portfolio which includes a service delivery platform, a mobile advertising platform, carrier grade messaging platforms and gateways, applications for data services, music download and video streaming, and voice platforms.
IMImobile displayed innovation by spearheading the 'Open Mobile Market' for the delivery of new applications and services.
Moving a step ahead with the concept of 'Open Mobile Market', IMImobile also pioneered to build a technologically advanced 'Innovation Center' as well as business analytics tools for the operators to help their customers retention. The innovation center aims to provide live connectivity with 90 telecom operators in 65 countries.
At the core of IMImobile's managed service model lies the innovative DaVinci ESP and is developed in over 5 years in India at its Hyderabad facility. To deliver carrier grade SLAs and 24/7 support to more than 80 operators globally, IMImobile uses an innovative cloud based service delivery model deployed from its Hyderabad based virtual network operation center (VNOC).
On the enterprise front, the company offers solution for employee engagement, customer engagement, payment management, enterprise mobility, and mobile marketing.
Making some smart moves and foreseeing the face of the Indian market, IMImobile emphasized more on its international operations with a special focus on Middle East and Africa.
Its tie-up with MTN in Africa and operations in 20 countries, partnering major operations in France Telecom and Zain in Saudi Arabia, fortified the technology backbone of the firm. By using IMImobile's platform, MTN has found that the time-to-market has been reduced, the average revenue per user increased, and the local content was facilitated.
With global footprint in operations and data centers across the world, it employs more than 650 people across Europe, Asia Pacific, Middle East, and Africa connecting 900 mn mobile subscribers. It is working with over 80 mobile operators and media companies and enterprises in 64 countries.
Its operator customers include Aircel, airtel, BSNL, Meteor, Mobitel, MTN, Tata, Telefonica, Virgin Mobile, and Vodafone. Our media and enterprise customers include BBC, Star TV, Reuters, Yahoo!, Google, EMI Music, Universal Music, Sony, and Warner Music.
However realizing the huge potential of the Indian enterprise market, IMImobile is betting big on this front with a special focus on the BFSI sectors which are one of the largest users of messaging services. The firm is all set to launch its new API index that will not only benefit the BFSI sector but the wholesome of enterprises at large. Previously, the firm had come up with a joint report on 'Mobile Platform Adoption by Enterprises' conducted along with Internet and Mobile Association of India (IAMAI).
September 11th, 2012, 03:42 PM
DQE partners with Burger King to promote The Jungle Book (http://www.indiantelevision.com/aac/y2k12/aac942.php)
MUMBAI: Hyderabad-based DQ Entertainment has entered a global promotional partnership with Burger King Worldwide (BKW) that will commence from the summer of 2013.
The participating Burger King restaurants in more than 12,000 locations worldwide will launch an integrated marketing campaign meant to be highlighted by in-restaurant merchandising and promotional themed toys featuring The Jungle Book characters.
"Burger King is proud to feature The Jungle Book property to complement and enhance the excitement of our kids meal offerings during this promotional partnership," said Burger King Corp. vice president, marketing and R&D, Latin America and Caribbean Jose R. Costa.
The Jungle Book promotion is based on The Jungle Book TV series - seasons 1 and 2, and The Jungle Book Feature Film that is currently being produced by DQE.
DQE chairman and CEO Tapaas Chakravarti said, "Burger King is the second largest hamburger chain in the world. With The Jungle Book airing successfully in territories such as the US, Canada, Germany, France and UK, this collaboration provides strong synergies and will further increase the fan base of this classic property."
September 11th, 2012, 11:38 PM
ECIL to supply equipment to Germany (http://www.business-standard.com/india/news/ecil-to-supply-equipment-to-germany/486098/)
Source: Business Standard
Hyderabad-based Electronics Corporation of India Limited (ECIL), a public sector enterprise under the Department of Atomic Energy, will supply ultra stable power converters for the Facility for Antiproton and Ion Research (FAIR), which is coming up near Frankfurt in Germany with international collaboration.
FAIR is similar to the large hadron collider (LHC), Geneva, that grabbed headlines this year by announcing the existence of a sub-atomic Boson, and aims to explore the properties of the building blocks of matter and understand how they evolved into more complex forms.
ECIL is signing an MoU for this purpose on Saturday with Kolkata-based Bose Institute, which has been designated as the Indian shareholder in the FAIR company and the nodal Indian institute for management of FAIR programme from India. The institute had invited bids for supply of this equipment last year.
While the country had committed to contribute around Euro 36 million to this programme, ECIL would be supplying Euro 7.5 million (around Rs 50 crore) worth of ultra stable power converters that power the super conducting magnets that bend the high energy particle beams in the upcoming facility, according to a press release.
Previously ECIL had supplied a variety of power systems to LHC as well.
Apart from deepening the understanding of subatomic constituents of the matter, the scientific knowledge and technology acquired by the experiments in FAIR would help in a variety of applications, including development of nuclear-fusion energy and preparing secured manned space missions in high radiation conditions, according to the international research laboratory.
September 12th, 2012, 07:48 AM
With IPL team Deccan Chargers up for sale, Deccan Chronicle plans CDR for loans (http://businesstoday.intoday.in/story/deccan-chargers-sale-deccan-chronicle-plans-cdr-for-loans/1/188000.html)
Debt-ridden Deccan Chronicle Holdings Limited (DCHL), the Hyderabad-based media house, has decided to approach its bankers for a corporate debt restructuring (CDR) of its outstanding loans on the lines of cash-strapped Kingfisher Airlines as a last-ditch effort to wriggle out of the financial mess.
A decision to this effect was taken at a meeting of the DCHL Board of Directors in Hyderabad on September 7 under the chairmanship of T. Venkattram Reddy.
The DCHL management informed the National Stock Exchange that it is going in for restructuring of the debt by filing an application with the Corporate Debt Restructuring Cell, under the CDR mechanism, as envisaged under Reserve Bank of India (RBI) guidelines.
According to sources, once DCHL files the application, the lenders would form a consortium to study the financials of the company and decide on debt restructuring.
"We will have to examine the terms of restructuring, the methodology of restructuring," Andhra Bank chairman and managing director B. A. Prabhakar told Mail Today.
"As per the RBI guidelines, the consortium of lenders would go into the debt structure of DCHL first and their collaterals. Moreover, 75 per cent of the lenders have to agree for CDR; or, it would be rejected," Prabhakar added.
DCHL has outstanding dues of over Rs 3,270 crore, which it owes 28 lenders, including banks, financial institutions and nonbanking financial institutions.
ICICI Bank is the biggest lender to the DCHL with loan outstanding of Rs 490 crore followed by Axis Bank with Rs 400 crore.
According to sources, DCHL management is confident of convincing the banks for restructuring of debts once auction of its Indian Premier League franchise Deccan Chargers is over.
"The response to the tender notice for the Chargers is quite encouraging and the management hopes to rake in Rs 800 crore to Rs 1,000 crore," sources said.
September 12th, 2012, 07:50 AM
IVRCL won't bid for new BOT projects after posting Rs 124 crore loss (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/construction/ivrcl-wont-bid-for-new-bot-projects-to-stay-afloat-after-posting-rs-124-crore-loss/articleshow/16361662.cms)
HYDERABAD: Infrastructure firm IVRCL has chalked out a multi-pronged strategy that includes a holiday from bidding for new build-operate-transfer (BOT) road projects to stay afloat. "The strategy includes staying away from bidding for new BOT road projects for three-to-six months, monetising existing road projects and real estate assets, downsizing the manpower, spreading the construction business to overseas markets, strengthening manufacturing operations and focus on large amount of receivables," said chairman E Sudhir Reddy.
IVRCL, in which the Subhash Chandra-promoted Essel Group acquired a 10.2% stake in March, posted a loss of Rs 124 crore for the extended 15-month period ending June. Reddy cited problems with national highway projects such as delays in land acquisition, right of way, cautious approach of lenders and delayed payments as some of the reasons to go in for the holiday.
He said the period of the holiday could be extended if required.
"Meanwhile, we will complete the existing road projects in the order book and keep monetising as and when they are completed and begin toll collections. This will help us to get back our equity and transfer the debt burden into the books of the buyers," said Reddy.
"The company is targeting expansion of its construction business to overseas markets, aiming to report at least 50% of its revenue from overseas operations in four-five years," he said.
At present, the company does not earn anything from its overseas construction business. The group's chief financial officer R Balarami Reddy said the company sold its stake in one of the road projects during the last quarter for Rs 231 crore, making a profit of Rs 117 crore.
September 12th, 2012, 08:18 AM
Mahindra Satyam launches 'HealthConnection' (http://zeenews.india.com/business/news/companies/mahindra-satyam-launches-healthconnection_60058.html)
Hyderabad: IT service provider Mahindra Satyam on Tuesday announced the launch of 'HealthConnection', a health insurance exchange (HIX) solution that complies with US Affordable Care Act requirements for establishing health insurance exchanges for businesses, employers and individuals by January 1, 2014 deadline.
According to a release issued by MSat, HealthConnection incorporates "solution accelerators" automated tools to help plan and deploy rollouts for key components.
This includes enrollment, plan comparison, and premium billing both for the individual market and Small Business Health Options Programme (SHOP) to ease implementation.
HealthConnection is based on proven components from hCentive's WebInsure state platform and CSC's Premium Billing System 360?SM with a consumer-centric focus to ease the insurance purchasing process from both agency and consumer points of view, it said.
HealthConnection enables government agencies to focus efforts on helping citizens rather than technical complexities of implementation and provide an easy-to-use self-service portal and a multi-channel system that enable citizens to choose the right plan for individual situations.
Arvind Malhotra, Senior Vice President, Strategic Accounts, Mahindra Satyam, said with the US Supreme Court ruling, the race is on to build state-wide health insurance exchanges by the deadline.
"HealthConnection allows government agencies to rapidly and reliably meet ACA requirements with the flexibility to adjust to evolving federal requirements. By partnering with industry-leading software and solution vendors, we have developed a low-risk, robust approach to implement an exchange," Malhotra added.
September 13th, 2012, 08:29 AM
Peepul Capital may invest Rs 500-1,000 cr in Deccan Chronicle (http://www.business-standard.com/india/news/peepul-capital-may-invest-rs-500-1000-cr-in-deccan-chronicle-/486247/)
Peepul Capital LLC, a Hyderabad-based private equity fund, is likely to invest Rs 500-Rs 1,000 crore in debt-ridden Deccan Chronicle Holdings Limited (DCHL), which publishes English newspapers Deccan Chronicle, Financial Chronicle and Asian Age, and Telugu daily Andhra Bhoomi.
When contacted, Peepul Capital Managing Director C Srinivasa Raju said the company was willing to invest in Deccan Chronicle Holdings. However, he declined to specify the amount. “Our investment in DCHL would be from our $700-million fund (which includes $100 million of its own money). Since our firm has both dollar and rupee funds, it (the investment) will be a combination of both currencies,” he said.
Peepul Capital is the first company to evince interest in investing in DCHL, which accounts for debt of about Rs 5,000 crore.
Raju said it was likely the deal would take time to materialise. “I think the investment process into DCHL will take a long time because they don’t have a balance sheet. Unless there is a balance sheet, no fund can invest. Probably, they would call for expressions of interest from three to four investors like us. I think it would take at least three to six months from now,” he said.
Peepul Capital, which typically commits between $15 million and $25 million of equity in each transaction, has, so far, invested $450 million from its fund. Its investments include those in Hyderabad-based animation company DQ Entertainment, multi-lingual news agency IANS India Private Limited, Associated Broadcasting Corporation, which runs regional television news network TV9 and Visage Media Services, a strategic partner of Getty Images.
September 14th, 2012, 05:55 PM
PEBS Pennar bags Rs 60-crore orders (http://business-standard.com/india/news/pebs-pennar-bags-rs-60-crore-orders/186802/on)
Contracts include orders from Aditya Birla Group's Ultratech Cement and Kirloskar Pneumatic
Pre-engineered building solutions provider, Pennar Engineered Building Systems Limited (PEBS Pennar), a subsidiary of Hyderabad-based, Rs 1,440-crore Pennar Industries Limited, has bagged orders worth Rs 60 crore.
The contracts include a repeat order from Aditya Birla Group’s Ultratech Cements for design, manufacture, supply and installation of three buildings to be used for storage of limestone, additives and stock piles at Malkhed in Karnataka, an order from Kirloskar Pneumatic for its 8,300-square metre manufacturing unit near Pune, and an order from Rohan Builders for a manufacturing unit meant for Japanese company Nippon India Corporation for their upcoming project at Shirwal in Maharashtra.
“The new contracts take the total order book of the company to Rs 260 crore. We will continue to capitalise on our design and engineering strengths through a strong marketing and sales team,” said PV Rao, executive director of PEBS Pennar.
PEBS Pennar had established its manufacturing facility near Hyderabad in 2008 with an initial capacity of 30,000 tonne a year, which was expanded to 60,000 tonne in FY2011. The company is now in the process of further expanding the capacity to 90,000 tonne to meet the increasing demand.
The company, which has plans to set up a manufacturing facility in north India in a couple of years, closed FY12 with gross revenues of Rs 280 crore. With firm growth strategy in place, it projects revenues of Rs 500 crore by FY14, the company said in a release on Friday.
September 18th, 2012, 07:57 AM
Hyderabad-based institute to help in aquifer mapping (http://timesofindia.indiatimes.com/city/hyderabad/Hyderabad-based-institute-to-help-in-aquifer-mapping/articleshow/16441145.cms)
HYDERABAD: Concerned with a depleting groundwater table, the ministry of water resources has directed its attention to detecting groundwater reserves.
As part of a mission designed by the Central Ground Water Board (CGWB), the National Geophysical Research Institute (NGRI) here has embarked on a project which will set the methodology and suggest techniques to be used for carrying out aquifer mapping in the country.
The project 'Aquifers Characterisation Using Advanced Geophysical Techniques In Representative Geological Terrains of India' of NGRI involves aquifer mapping in six representative areas of the country. "The ground surveys have already begun. For the first time, airborne surveys will also be taken up from January next in the project areas," NGRI director Mrinal K Sen told TOI. He said there were results from pilot studies that have been previously conducted in some hard rock and sedimentary alluvium terrain and it is these areas that were selected for aquifer mapping.
At a cost of Rs 27 crore, the aquifer mapping will be taken up in Rajasthan, Maharashtra, Karnataka, Tamil Nadu and Bihar. NGRI is also in consultations with officials of the Danish embassy in New Delhi for expert assistance.
September 19th, 2012, 11:33 PM
Vimta Labs fails to execute Rs 30 cr projects (http://www.business-standard.com/india/news/vimta-labs-fails-to-execute-rs-30-cr-projects/187481/on)
Coupled with global economic slowdown and the regulatory approvals in India, Hyderabad-based Vimta Labs Limited, a contract research and testing company, has failed to execute projects worth Rs 30 crore during the last financial year.
Regulatory approvals affected Vimta's topline by Rs 30 crore. "We failed to execute projects worth Rs 30 crore last year due to delay in getting approvals and some regulatory issues," Vimta Labs chairman SP Vasireddi told Business Standard.
"Clinical research is a lengthy process. You need regulatory approvals from importing the samples to conducting the research. The current regulatory market is not proactive in the country, which in turn affecting the clinical research market," Vasireddi said. In India, Drugs Control General of India (DCGI) is the apex body which provides approvals for the projects.
According to Marketresearch.com, a market research agency, the clinical trial industry in India is expected to touch $1.09 billion by 2014, from the $400 million market in 2010.
"India was in the global map for clinical research activities in the last couple of years. But now, global customers are moving away from India and investing in other Asian markets including China, Vietnam and Thailand," Vasireddi said.
According the company annual report, the company gross revenue for the year 2010-11 stood at Rs 96.04 crore, as against Rs 55.41 crore in previous year. During the year, the domestic sales have gone up by 32 per cent with a reduction of export sales by 13.76 per cent as compared to the previous year.
The reduction in export sales is stated to be "predominantly due to unprecedented regulatory developments in clinical research industry causing inordinate delays in receiving clearances which has resulted in execution of projects for overseas customers,"
During the first quarter of this financial year, Vimta has come out of red and reported Rs 48 lakh net profit, recovering from Rs 1.44 crore net loss in the corresponding quarter last year. Its total income grew 7.5 per cent to Rs 26.38 crore, as against Rs 24.54 crore.
Pointing out to the growth in revenue, Vasireddi said, "The business has picked up in the first quarter and also the market condition is getting better. In the first quarter itself the market is picking up." going by its number, it is expected to cross Rs 100 crore revenue mark by end of this financial year.
September 19th, 2012, 11:34 PM
CarZ to raise Rs 120-cr investment by February (http://www.business-standard.com/india/news/carz-to-raise-rs-120-cr-investment-by-february/487001/)
CarZ, a Hyderabad-based start-up company offering multi-brand auto solutions such as car repairs and servicing, plans to raise Rs 120 crore (approximately $25 million) by way of private equity (PE) investment by February 2013.
“We are currently under discussions with multiple PE investors from India as well as abroad, who have shown interest in us. We may raise the money from a single investor or multiple investors, but nothing has been finalised,” Venu Donepudi, co-founder and managing director of CarZ, said.
Currently, the company has 16 CarZ outlets across Andhra Pradesh, Karnataka and Kerala. “We plan to add another 34 with an investment of Rs 45 crore over the next two years across the southern and western Indian markets including Gujarat, Maharashtra and Tamil Nadu,” said Donepudi.
“Each of the 1,000-sq yard CarZ outlets requires an investment of about Rs 1.2 crore. So, part of the second-round funding will be used for setting expansion of these outlets and to have a pan-India presence,” he added.
CarZ, which commenced operations in February 2010 from Hyderabad, raised $5 million (Rs 22.5 crore) in series-A round funding from IndoUS Venture Partners this year. Multi-brand car servicing stations are catching up in India, as the after-market services networks for many of the auto needs of the customers. Currently, only one-third of the cars that are sold go back to the dealerships, post-warranty.
“The company targets to achieve Rs 20 crore turnover by the year-end. We have been growing at 400 per cent year-on-year, and we expect a similar growth to follow in the coming years,” said Donepudi. CarZ has also forayed into Kerala by opening its first outlet in Kochi, its 16th outlet in the country. “We plan to open six more outlets in Kerala over the next year,” he added.
September 19th, 2012, 11:38 PM
Mahindra Satyam launches retail management solution (http://www.financialexpress.com/news/mahindra-satyam-launches-retail-management-solution/1004950/)
Hyderabad: Mahindra Satyam has launched business insights solution REIMS (Retail Enterprise Information Management System) for global retailers.
According to the company, the new product will enable global retailers improve decision-making processes.
Mahesh Vasudevanallur, Head - Retail and CPG Practice, Mahindra Satyam said REIMS is a cloud and mobile-enabled solution spanning several process areas including assortment and merchandising, supply chain management, warehouse
management, category performance analysis, customer analytics, multi-channel web, mobile and social media analytics.
"In the last few years we have seen dramatic changes in the Retail landscape. There are mountains of raw data stored in different pockets throughout the retail business – with diverse supply chains, volatile customer needs and extensive product lines," Vasudevanallur said.
Mahindra Satyam's Retail and Consumer Packaged Goods (CPG) Practice currently serves over 20 of the Fortune 500 customers. The company has a strong presence across the Americas, Europe, Asia and Australia.
"Discussions with our customers have been focussed on transforming "gut feel" and "siloed" decisions to fact-based cross-functional business insights which can lead to smarter and wiser decisions.
"REIMS solution is armed with proven accelerators and assets for each step of BI analytical life cycle leading to a faster, risk-free deployment," Vasudevanallur added.
September 21st, 2012, 05:53 PM
Y-Axis to invest Rs 20 cr for expansion (http://www.business-standard.com/india/news/y-axis-to-invest-rs-20-cr-for-expansion-/187867/on)
Y-Axis, a Hyderabad-based overseas career consultant, is planning to invest Rs 20 crore to expand its operation across India over the next 12 months.
Launching its X! Travel Club, a multi-brand one-stop overseas travel consulting travel store, at Hyderabad, Sabina Xavier, co-founder and chief operating officer of Y-Axis, said, "We have lined up investments to set up eight such stores across the country over the next 12-18 months, and to increase our brand presence through aggressive advertising and marketing."
The projects will be funded through internal accruals, she told Business Standard.
X! Travel Club focuses on building strengths in providing new experiences like yachting, golf, cruise holidays, caravans, around the world across Singapore, Malyasia,Thailand, Dubai, Egypt, London, Istanbul, etc. "We are upbeat about the new travel club concept that is targeted at the Indian customised travel class," she said.
"With an expected 50 million Indians opting to travel abroad by 2020 from the current level of 16 million, the travel club expects substantial customer footprints for its services," said.
Currently, Y-Axis s operational across 20 company owned office in India with 500 trained travel experts. Currently, it gets travel related 20,000 enquiries per month.
September 24th, 2012, 04:05 PM
IVRCL bags projects worth Rs 959 crore in India and abroad
HYDERABAD: Beleaguered Hyderabad-based infrastructure player IVRCL Ltd on Monday said it had bagged orders worth Rs 959 crore from India and overseas markets. While the company has bagged orders worth Rs 596 crore from overseas markets like Kenya and Kuwait, and the rest are for water and power projects in Madhya Pradesh and Rajasthan states.
While IVRCL has bagged orders worth Rs 471.52 crore from the National Irrigation Board of Nairobi, Kenya, for the Bura irrigation and settlement rehabilitation project, it has got a Rs 124.70 crore project for the construction of irrigation water tank along with building and infrastructure in Kuwait.
In India, the company's water division has got projects worth Rs 314.75 crore. These include work on the transmission main pipeline from Mallah in Bharatpur to Kumher, Deeg, Kaman, Pahari, Nagar and RWSS for 97 villages from Mallah Head Works under Chambal Dholpur Bharatpur project with operation and maintenance for 10 years on a turnkey basis. The company has also got a project for cluster distribution system of 71 villages under the Pokaran-Falsoond-Balotra-Siwana Lift project on a single responsibility basis.
IVRCL's power division has bagged a Rs 48 crore project for construction of transmission lines in Bhopal circle on a total turnkey basis from the MP Power Transmission Company Ltd.
September 26th, 2012, 11:12 PM
Gradiente Info to buy Hindi channel for Rs 50 cr (http://www.business-standard.com/india/news/gradiente-info-to-buy-hindi-channel-for-rs-50-cr/188464/on)
Gradiente Infotainment Limited, a Hyderabad-based media and entertainment company, is in the process of acquiring a Hindi general entertainment channel (GEC) for Rs 50 crore, according to chairman and managing director Vimal Raj Mathur.
“We are currently in negotiation with three Hindi GECs and expect to close a deal shortly. The re-christened channel will go on air in January 2013,” he told Business Standard.
The publicly-listed company is re-entering film production, a business it had left a few years ago. The company had, till 1996, produced three Hindi films including ‘Warrant’. It is now lining up three feature films – one in Telugu and two in Hindi – across action and romantic-comedy genres, each with a modest budget of around Rs 6 crore.
“While the Telugu film ‘Gud Morning’ is completed, the two Hindi movies are in the scripting stage. They will go on floor from October, and will be ready for exclusive multiplex audience release by March 2013,” Mathur said.
Gradiente is initiating a fund-raising exercise for its proposed acquisition of the Hindi channel, for film production and for constructing a corporate office with an investment of Rs 20 crore. Mathur said the company would go in for a preferential issue to raise about Rs 30 crore next month, Rs 100 crore via long-term debt and the remaining through internal accruals.
Looking beyond national boundaries, he said, the company had also initiated talks with digital media houses based in Hong Kong and Singapore for joint venture projects.
“We expect to forge tie-ups with these entities shortly,” he said, adding that the company was optimistic about the near future and had targeted a turnover of Rs 50 crore for 2013 fiscal, as against Rs 37 crore last fiscal.
Gradiente Infotainment Limited’s scrip is currently trading at Rs 8.30 on the BSE, up 2.60%, over the previous close of Rs 8.09.
September 26th, 2012, 11:22 PM
L V Prasad Eye Institute signs MoU with AP Govt to establish newborn eye screening & ROP control (http://pharmabiz.com/NewsDetails.aspx?aid=71367&sid=2)
L V Prasad Eye Institute (LVPEI), Hyderabad, a not-for-profit, non-government, public-spirited, comprehensive eye care institution has signed a memorandum of understanding (MoU) with Commissioner of Health and Family Welfare, Govt. of Andhra Pradesh, to establish newborn eye screening and retinopathy of prematurity (ROP) control in the state. This will help to identify serious eye problems in the newborn that often get diagnosed very late and to eliminate ROP blindness.
ROP is one of the major emerging causes of childhood blindness in India and leads to incurable vision loss in prematurely born and low birth weight babies. WHO has identified ROP as one of its key areas for preventing childhood blindness under its Vision 2020, Right to Sight programme.
Speaking on the occasion of the launch of the Neonatal Eye Screening and ROP Control in Andhra Pradesh (NES & ROP-CAP) Programme, Dr T Geeta Prasadini, in-charge director of Public Health, Government of Andhra Pradesh said, “The Government of India has allotted Rs. 168.80 lakhs towards the Programme Implementation Plan for the Year 2012-13 to establish Newborn Eye Screening and the ROP-CAP programme in the state for this period. With the programme implemented under the able guidance of LVPEI faculty, we are happy to extend support to ensure that no newborn baby including premature babies in Andhra Pradesh be needlessly blind or visually impaired by 2020.”
The objective behind establishing Neonatal Eye Screening (NES) and ROP-CAP includes: Regional Institutes of Ophthalmology (RIO) use portable equipments for ROP screening and prophylactic laser treatment, community NICU based centres for screening, training and education of manpower at LVPEI and NES for all newborns in the state community delivery centres.
General ophthalmologists, retinal surgeons, paediatricians, neonatologists and the nursing staff involved, from the Andhra Pradesh, will be trained and empowered in the diagnosis and management of premature babies for ROP and screening for all other newborns for any early onset eye problems. Training will also be imparted to paediatricians and the concerned nurses to identify babies at risk and facilitate speedy referral to trained eye and retinal surgeons. The training will be conducted at LVPEI and at the district level through CME programmes/workshops focusing on increasing the awareness on ROP and neonatal eye problems.
Other common conditions affecting any newborn include corneal infections and opacities, congenital cataracts, lid and lacrimal system abnormalities, glaucoma, tumours and globe malformations and the emerging epidemic of ROP.
September 26th, 2012, 11:28 PM
Celkon aims to become 2nd largest smartphone seller in India (http://business-standard.com/india/news/celkon-aims-to-become-2nd-largest-smartphone-seller-in-india/188544/on)
Aiming at becoming the second-largest smartphone seller in India, homegrown dual-SIM mobile handset maker, Celkon Impex, is expanding its portfolio with two new smartphone devices across different price points. The company, at present, sells six smartphone models.
According to third-party data, around 50.2 million phones were shipped to India in the first quarter of 2012, of which 47.5 million were feature phones and 2.7 million smartphones. Samsung is currently leading the pack in the smartphones segment, followed by Micromax.
“Our idea is to play across the price points. We will be rolling out two smartphone launches – A22 with a 4.5-inch display and dual-core processor for sub-Rs 9,000, and a smartphone device for sub-Rs 4,000 next month,” Murali Retheneni, executive director of Celkon, told Business Standard.
The Hyderabad-based company, which claims to be the number one mobile devices seller in Andhra Pradesh, and third across the country, is also betting big on the tablet PC market. The company today introduced its second tablet Cel-Tab CT2, which is says is the first SIM-based tablet launched by any Indian brand.
“Taking advantage of the plummeting technology acquisition costs, we are planning to launch a nine-inch tablet in October in the price point of sub-Rs 10,000 in October,” he said, adding that the company was targeting to sell 50,000 smartphones and an equal number of tablets a month, thereby taking its total sales (including feature phones) to one million units a month by the first quarter of next year.
Stating that smartphone penetration in developed countries like the US and UK was at 40-50% right now, while it was less than 10% in BRIC countries in terms of volumes, Murali said the industry expected this to grow to the level of 20-25% in the next couple of years.
“We have just started selling smartphones and tablets in the market. We expect these two categories to account for 20% of our revenues by the end of March 2013,” he said, adding that the company garnered revenues of Rs 326 crore in the last financial year, and was progressing towards almost trebling it this year.
September 27th, 2012, 09:50 PM
NCC planning to churn assets, divest stake in matured projects (http://www.thehindubusinessline.com/companies/article3942606.ece?ref=wl_opinion)
HYDERABAD, SEPT. 27:
NCC Ltd has hinted at unlocking value by churning of matured assets within the portfolio.
The Hyderabad-based diversified infrastructure company said the company has built a significant portfolio of assets in roads and power generation over the years.
While returns on developmental projects are back-ended, the company plans to unlock value and monetise some of the projects by equity sale.
Addressing the 22nd annual general meeting, NCC Chairman Emeritus, A.V.S. Raju, told shareholders during the first quarter ended June 30, 2012, that the company achieved a turnover of Rs 1792.96 crore with a net profit of Rs 20.34 crore, against a turnover of Rs 1601.83 crore, and a net profit of Rs 31.28 crore for the corresponding quarter of pervious year.
He said the interest and input costs continued to impact the profitability during the first quarter.
During the quarter, the company secured new orders worth Rs 2,100 crore and the order book now as of June end was Rs 20,520 crore. In spite of tough conditions, in the last fiscal, the company bagged new orders worth Rs 10,117 crore.
The company attributed pressure on profits to steep increase in interest cost, increase in input costs such as steel and cement.
September 28th, 2012, 08:46 PM
SmartTrak to treble production capacity (http://www.business-standard.com/india/news/smarttrak-to-treble-production-capacity/487950/)
SmartTrak Solar Systems, a Hyderabad-based startup that manufactures solar tracking systems and solar weather stations, is looking at expanding the production capacity at its Hyderabad plant from the current 300 Mw to 1,000 Mw a year, according to director Bhagawan Reddy.
“The success of such technologies depends on government policies. We are closely observing the policies, and once they are clear and our order book swells, we will go in for the expansion in the next six months,” he told Business Standard.
SmartTrak, which so far had invested Rs 2 crore in its manufacturing facility, is planning to further infuse Rs 4 crore for the expansion. It is talking to private equity and venture capitalists to raise funds for the same, he said.
The company’s solar tracking systems comprise an in-built algorithm, which calculate and follow the course of the sun in advance, and move and arrange the solar panels accordingly.
The company has already implemented a 3-KWp (kilowatt-peak) dual-axis tracking system at Hyderabad-based Signion Systems, and two 6.5-KWp dual axis system at a solar power plant near Anantapur in AP.
Stating that the company had an order book of 20 dual-axis tracking systems valued at Rs 1.5 crore, and was expecting Rs 12 crore worth of orders during this year, Reddy said they were targeting to garner revenues of Rs 15 crore by March 2013, as against Rs 12 crore last year.
October 4th, 2012, 04:15 PM
Mytrah Energy to double wind farm capacity; to add 294 MW by June (http://www.thehindubusinessline.com/companies/article3961004.ece)
HYDERABAD, OCT 3:
Independent power producer Mytrah Energy Limited is set to double wind power generation capacity by June 2013 with the addition of 294 MW to its existing capacity of 316 MW.
The AIM London Stock Exchange-listed IPP is investing Rs 2,000 crore in the ongoing capacity addition. It has thus far invested Rs 2,400 crore in setting up wind farms across four States in the country from 2010.
The company raised about $115 million through mezzanine financing (a hybrid of debt and equity financing, typically used to finance expansion projects) in 2011. Its investors include India Infrastructure Fund, IDFC and PFC. “Apart from this we raised about $263 million as senior debt,” Ravi Kailas, Chairman of Mytrah Energy, based in Hyderabad, said. (Senior debt is money that a company must repay first if it goes out of business.)
Addressing a press conference, Ravi Kailas said the company will add 24 MW within weeks and another 270 MW, now at various stages, by mid-2013, thereby doubling capacity.
“This will make us the largest wind energy-based IPP in the country,” Vikram Kailas, Managing Director, said.
“The IPPs long-term plan is to create wind power farms with a total installed capacity of 5,000 MW at an outlay of Rs 30,000 crore by 2017. Funding is not a problem. We already have begun to make profits within two years. In the first half of this year, we had a turnover of Rs 165 crore and a net profit of Rs 40 crore. As we add capacity, the cash flows will enable us to take up new projects,” Ravi Kailas explained.
The equity component of Rs 600 crore for the Rs 2,000-crore expansion has been tied up.
The debt component will be closed shortly, Vikram Kailas, said.
A tariff of Rs 4.50 and above per unit works out as viable for wind projects, they said.
October 4th, 2012, 04:18 PM
Heard on the street: IVRCL gains on talk of Essel Group raising stake (http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/heard-on-the-street-ivrcl-gains-on-talk-of-essel-group-raising-stake/articleshow/16663691.cms)
Shares of Hyderabad-based IVRCL jumped 4.6% to Rs 50.80 on Wednesday on speculation that Subhash Chandra promoted Essel Group, which holds 12.27% stake in the company, may raise its stake.
Grapevine has it that the Essel Group through its holding company Asian Satellite Broadcast may acquire 6.23%, or Rs 1.66 crore shares, from HSBCBSE 0.24 % through a block deal in the next few days. While an email query to the Essel Group did not elicit a response, a company spokeswoman said, "We decline to comment on market speculation."
In March, Essel Group had acquired 10.2% in Hyderabad-headquartered IVRCL through secondary market transactions and subsequently increased it to 12.27%.
October 4th, 2012, 04:19 PM
Mahindra Satyam raises salary 7-12% (http://www.rediff.com/business/report/tech-mahindra-satyam-raises-salary-7-12-pc/20121004.htm)
Hyderabad-based consulting, IT services and engineering solutions provider Mahindra Satyam has started doling out wage rises in the range of 7-12 per cent for employees across the board.
"The process began last week. The letters are being sent out in batches, and quite a few business units have already received them," a Mahindra Satyam spokesperson, wishing not to be named, told Business Standard.
While declining to disclose the percentage of wage hikes given to offshore and onsite staff, the spokesperson said that the hike was effective from October 1, 2012.
"The hike will be applicable to all the 33,000 associates (employees) who are on roster as on December 31, 2011."
The company has 36,000 employees on its rolls as on June 2012.
The average employee utilisation, both onsite and offshore, was at 76 per cent.
The attrition rate in the June 2012 quarter was 13.5 per cent, as against 17.3 per cent a year ago.
This is the second consecutive year that Mahindra Satyam had delayed its salary hike by a quarter.
Inciting fears of lay-offs, the company had pushed its salary hikes from July to October last year. In October 2011, the company had given wage hikes of 12 per cent for offshore employees and 2.5 per cent for onsite staff.
"Mahindra Satyam on its compensation and benefit is still running at about 70 per cent, which is one of the highest in the industry.
"Most other companies in the peer group are running between 55 per cent and 60 per cent on that cost," C P Gurnani, CEO of Mahindra Satyam had said in a call in 2011.
"So, within the budget available, it was more important to give a higher percentage hike than to give it for the full nine months of the balance year.
"And, we took a poll from our employees and most of them favoured the higher percentage hike than to get a lesser percentage hike for 9 months only.
"It was a consultative inclusive decision with our employees and I am happy that our employees have supported us," he said.
Mahindra Satyam's scrip is currently trading at Rs 114.45 on the BSE, up 0.13 per cent, over the previous close of Rs 114.30.
October 4th, 2012, 04:23 PM
TalentSprint to train 50,000 banking aspirants (http://www.business-standard.com/india/news/talentsprint-to-train-50000-banking-aspirants/488410/)
Hyderabad-based TalentSprint, a National Skill Development Corporation partner company, is aiming to train around 50,000 banking aspirants by 2015.
Towards this, it has acquired Deccan Career Point, a city-based bank exam coaching outfit, and has launched 'Bankers Choice', a comprehensive exam preparation programme for the Institute of Banking Personnel Selection recruitment in Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
K Sridhar, senior vice-president, TalentSprint, said, “We are planning to roll out this programme across the southern states as an enabling platform for banking aspirants.”
Andhra Pradesh, at present, has around 370,000 banking aspirants, Karnataka 100,000, Tamil Nadu 140,000 and Kerala around 200,000. However, only 2 per cent these aspirants are able to clear the recruitment exams, he added.
MC Jacob, senior adviser to TalentSprint and former chief general manager of State Bank of Travancore, said, “The Indian banking sector urgently needs significant infusion of new talent due to high demand for banking services, financial inclusion imperatives, and large-scale retirement. It is estimated that around 750,000 new jobs will be created in the banking sector over the next five years.”
TalentSprint has assembled a team of banking and financial services professionals for training and mentoring these aspirants. The ‘Bankers Choice’ programme is offered in multiple formats through classroom and online channels.
NSDC has extended a Rs 10-crore ‘venture debt’, to be released in three tranches with the last being Rs 3 crore in 2013, to TalentSprint to build iPEARL (Interactive Platform for Remote Employability and Learning remote classroom initiative). The interest rate is 6 per cent with a repayment period of 7 years starting 2013.
The skill development and training company had raised Rs 20 crore from Nexus Venture Partners in April this year to support its expansion.
October 5th, 2012, 11:41 PM
Autodesk acquires Qontext technology from Pramati Technologies of Hyderabad (http://timesofindia.indiatimes.com/city/hyderabad/Autodesk-acquires-Qontext-technology-from-Pramati-Technologies-of-Hyderabad/articleshow/16687219.cms)
HYDERABAD: US-based 3D design, engineering and entertainment software player Autodesk Inc on Friday said it had acquired the enterprise social collaboration software platform - Qontext - from privately-held Hyderabad-based Pramati Technologies.
While the financial details of the deal were not disclosed, Autodesk said the acquisition of the Qontext technology would accelerate its ongoing move to the cloud and add new social capabilities to Autodesk 360, its cloud-based platform that offers users the ability to store, search, and view critical design data.
In addition to acquiring the technology, Autodesk will also be acquiring from Pramati the Qontext development team that would become the new development centre for Autodesk Inc out of Hyderabad.
"This transaction is a significant milestone in our ongoing efforts to incubate and build companies that address the rapidly changing needs of business through highly innovative technologies," said Pramati co-founder and president Vijay Pullur.
""Mobile, cloud and social computing are dramatically changing the way engineers, designers and architects work. The addition of the Qontext technology to the Autodesk portfolio will lead to new technology innovations that help our customers embrace these disruptive technologies and leverage them for competitive advantage,"" said Amar Hanspal, Senior Vice President of information modelling and platform products, Autodesk.
While the flagship product of Pramati Technologies, which was set up in 1998 by Jay and Vijay Pullur, is Pramati Application Server, the company also owns customer acquisition and retention platform SocialTwist and software product and services company Imaginea.
October 5th, 2012, 11:56 PM
Next Education targets Rs 500 cr turnover (http://www.business-standard.com/india/news/next-education-targets-rs-500-cr-turnover/189892/on)
The company started operations in 2007, has already touched a turnover of Rs 100 cr
Hyderabad-headquartered Next Education Private Limited, a technology-driven education enterprise, is targeting to achieve Rs 500 crore turnover over the next four years.
Next Education, which started its operation in 2007, has already achieved Rs 100 crore turnover. "The company has grown 200% over last year. Seeing the digital revolution in the education sector in the country, we are positive for a good growth," Beas Dev Ralhan, chief executive officer, Next Education, said.
Next Education offers innovative learning solutions for the K-12 segment across CBSE, ICSE, IGCSE and 23 other Indian state boards in eight languages through its in-house developed products such as TeachNext, LearnNext, NextStudio, NextLabs, and NextERP.
It has created 10,000 learning modules that account for more than 1,000 hours of classroom teaching in the K12 segment in association with 500 technology and educational professionals. Recently, it has crossed 5,000 partner schools covering 4 million students, and has plans to reach 10,000 schools pan-India over next four years, he said.
"We are planning to expand to less prominent regions like Ladakh, Dimapur, Aizawl and Kanchipuram in the coming years," he said. Currently, it has presence across 600 districts in India.
The company has plans to raise Rs 150-crore from private equity (PE) players this year. It has invested around Rs 300 crore since inception in research, content development and in rolling out its pan-India operations.
October 6th, 2012, 12:35 AM
NMDC to buy assets in Mozambique (http://www.omantribune.com/index.php?page=news&id=127854&heading=Business)
NEW DELHI State-owned iron ore miner NMDC is in talks with two coking coal firms, once each from Mozambique and Russia, for acquiring stakes in them.
Of this, Sol Mineracao Mozambique, the Mozambique firm, has coking and thermal coal assets, having an exploration target of about 500 million tonne, in Mutarara district of Tete Province in the African nation, NMDC said in its annual report for 2011-12.
“The exploration activity is complete in the precise area and is due for the grant of mining license,” NMDC’s acting chairman CS Verma said in the annual report.
About the Russian firm, he said that it is in Kuzbass basin in Kemerovo region of Russia and has 50 million tonnes of recoverable coking coal reserves, though did not disclose its name.
“... Is presently in discussions for acquisition of strategic stake with a coking coal company located in Kuzbass basin in Kemerovo region, one of the largest coal mining areas in the world,” he said.
The Russian firm’s reserves have an upside potential of additional 100 million tonnes, he added.
NMDC officials declined to comment on the two potential deals and how much the company plans to acquire in them.
The Hyderabad-based company has been scouting for coking coal assets in the US and rock phosphate projects in Africa as part of its efforts to increase its global footprint.
October 7th, 2012, 10:56 PM
Transgene Biotek in tie-up with Mauritius-based FII, to delist shares (http://www.thehindubusinessline.com/companies/article3974662.ece?homepage=true&ref=wl_home)
MUMBAI, OCT 7:
Pharmaceutical company Transgene Biotek has announced that Mauritius-based Stream Value Fund has agreed to join hands on a long-term basis to support its drug discovery activity, in return for equity participation and certain rewards on drug licensing or sale.
Last week the Hyderabad-based company said it is offloading undisclosed quantum of stake to a foreign institutional investor as a result of which the company’s shares will be delisted from domestic stock exchanges.
The company is in the process of sending the postal ballot to all its shareholders seeking their approval.
If delisting is successful, the management of Transgene said, it will enjoy enhanced flexibility without requirement to comply with a long list of regulators’ rules and regulations which often hinder efforts to speed up the drug development process.
Transgene has a pipeline of more than six molecules in development - both novel bio-technology and bio-generic drugs, the release said.
The two recent animal studies on its oral insulin project have yielded exceptional results that give rise to confidence that Transgene will soon be in strategic partnership with a large pharma company, the company said.
October 8th, 2012, 10:38 PM
Gayatri Projects raises Rs 128 cr from IDBI (http://www.moneycontrol.com/news/business/gayatri-projects-raises-rs-128-cridbi_766431.html)
Hyderabad-based Gayatri Projects today said it has raised Rs 128 crore from IDBI to part-fund its outstanding Rs 147 crore Foreign Currency Convertible Bond (FCCB).
Hyderabad-based Gayatri Projects today said it has raised Rs 128 crore from IDBI to part-fund its outstanding Rs 147 crore Foreign Currency Convertible Bond (FCCB).
The infrastructure developer had earlier raised around Rs 186 crore in Japanese currency Yen through a FCCB, but made Rs 38 crore repayment in the interim. The remaining Rs 147 crore was due for redemption on August 3.
"The company is pleased to announce that it has raised ECB worth JPY 190 crore from IDBI Bank to honor its redemption obligation and has transferred the balance outstanding amount of JPY 219 crore to Bank of New York Mellon Account, Brussels to complete the outstanding redemption," Gayatri Projects said in a statement to BSE.
It has funded the rest of the repayment obligation from internal accruals.
Company's shares today settled at Rs 116.10 apiece at the BSE, down 3.17 percent over the previous closing.
October 8th, 2012, 10:40 PM
Essel Group sells additional 1.5% stake in IVRCL for Rs 20 cr (http://www.thehindubusinessline.com/companies/article3978283.ece)
MUMBAI, OCT 8:
Essel Group has informed the stock exchanges that it has brought down its holding in IVRCL by selling additional 1.5 per cent stake in the company firm for Rs 20 crore.
The Hyderabad-based infrastructure company’s shares were sold through bulk deals.
The Essel Group, which forms part of Subhash Chandra group business, last week sold about 8.5 per cent in IVRCL.
Asian Satellite Broadcast, part of Essel, offloaded 45.50 lakh shares equivalent to 1.48 per cent stake of IVRCL, the BSE was informed.
The Essel Group, along with its firms Asian Satellite Broadcast and Jay Properties, held about 12.27 per cent stake in IVRCL, about a per cent more than what IVRCL core promoters held.
The Essel’s decision to sell stake in IVRCL comes after about six months of it actually picking up stake from the market with the intent to increase it further.
However, with the IVRCL management recently indicating that it plans to focus on EPC and stay away from build, own and operate (BOT) assets, Essel Group has decided to exit.
Both Essel Group and IVRCL now see this as a win-win situation.
While Essel feels it is better to stay away as IVRCL has changed its stand in terms of how it plans to go about its business, IVRCL management, on the other hand, feels the development will be beneficial to them as it removes any concerns that the lenders could have with two groups in the same company.
IVRCL scrip was up 1.45 per cent to close at Rs 45.45.
October 8th, 2012, 10:41 PM
Microsoft IT-India's 'Springboard' likely to go global (http://business-standard.com/india/news/microsoft-it-indias-springboard-likely-to-go-global/488983/)
It is an initiative to help women pursue their career interests after a break and make an easy transition, back into the corporate world
Microsoft is contemplating taking Springboard, its new initiative to help women who decide to pursue their career interests after a career break make an easy transition back into the corporate world, globally.
Springboard, launched two weeks ago by Microsoft IT-India, the Indian offshore arm of Microsoft’s IT engineering division, provides women, who have taken a career breaks, an opportunity to hone technical skills, besides offering attractive monthly compensation through the duration of the project and join as a full-time employee at the end of the programme.
“We will look at how it (Springboard) works in Hyderabad (Microsoft’s biggest campus). If it works out well, I am sure we will do it at the India level and then roll it out globally,” Meher Afroz, executive sponsor of the Springboard programme and a member of the IT leadership, MSIT, told Business Standard.
The programme offers women the flexibility to choose the type of project, the duration and even the work hours. Women with requisite professional, post-graduation or equivalent qualifications with at least four years’ continuous work experience can apply. “The MSIT programme for women is a great step towards bringing more women back into the corporate mainstream,” said Sairee Chahal, co-founder of Fleximoms, a company that enables women to make most suitable work-life choices and connects them to the world of work.
Added Rajiv Burman, human resource director, MSIT: “When we looked back at our Microsoft experience, what we found was that we tend to lose women after four-five years they join us. We were able to bring a lot of them from campuses, but start losing them. Then we went back and examined all exits and reasons why they are leaving.”
In every case, he said, no one left Microsoft either because the environment wasn’t good or they could not feel good. The challenge was either they were getting married, planning to focus on their family, their husband was relocating or they were having a child and now wanted to spend the first few years at home, he said.
“Those were the main reasons that we consistently came across in the last four years of data of all women who left Microsoft. We are focusing a lot on making Microsoft a welcome place. The research which we did told us we need to come up with something different that could bring back those women who had taken a career break,” Burman said.
Staying away from disclosing any numbers, he said the number of women employees in Microsoft had grown well over 40 per cent in the last three years, and the number of women who left was almost the same as the number of men who left the company.
Under the Springboard initiative, women who seek to get their career back on track will join Microsoft-IT at Hyderabad for six months as interns. They will work for a maximum of 20 hours, which will be structured very flexibly around their schedule. Once they have completed that successfully, and depending upon their interest and how they have performed, they will have the option of getting absorbed as full-time employees.
“We just launched Springboard and we are in our first roll-out of the programme. We expect to bring in the first batch as of November 1, 2012,” Burman said.
October 8th, 2012, 10:56 PM
Dr. Reddy's Custom Pharmaceutical Services (CPS) Business Expands Its Manufacturing Operations in Mirfield, UK (http://www.businesswire.com/news/home/20121008005794/en/Dr.-Reddys-Custom-Pharmaceutical-Services-CPS-Business)
HYDERABAD, India--(BUSINESS WIRE)--The Custom Pharmaceutical Services (CPS) business of Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) today announced expansion in the areas of activated mPEG manufacturing and in the development and manufacture of NCE (New Chemical Entities) APIs for use in pre-clinical through to commercial development at its manufacturing facility in Mirfield, UK.
The expansion puts Dr. Reddy's at the forefront of activated mPEG manufacturing and will enable manufacture of its PEGtechTM range at commercial metric tonne scale quantities and beyond in a fully cGMP environment. Equipped with state-of-the-art DCS computer control systems, the plant operates with a very high level of control and has been designed with the latest manufacturing compliance standards in mind.
Commenting on the development, Dr. R. Ananthanarayanan, President-Pharmaceutical Services and Active Ingredients business, Dr. Reddy’s said, “This expansion builds on our commitment to expand operations in UK and provide a superior network of cGMP manufacturing to support our global customer base. PEGylation is one area where we felt the need for expanding our capabilities. We have invested in multiple technology areas and the expansion will add significant value in the areas of mPEGs and cGMP API manufacturing.”
Dr. Reddy’s has eight API manufacturing facilities (Six FDA-approved plants in India, One FDA-approved plant in Mexico and One FDA-approved plant in Mirfield, UK) worldwide which helps the CPS business to provide its customers with multiple site options.
October 8th, 2012, 10:57 PM
Ventureast Tenet to set up new $50m fund in a year (http://wrd.mydigitalfc.com/companies/ventureast-tenet-set-new-50m-fund-year-697)
To look at products, services that reach US, Europe, Southeast Asia
Seed stage venture capital fund Ventureast Tenet Fund is looking at setting up a new fund between $40-50 million in the coming nine to 12 months, with a focus on early stage investments in companies that plan a global customer base.
The venture capital firm, after having invested in around ten companies from its earlier fund, would also add two-three more companies in its portfolio this year.
“The idea this year is to bring out the new fund, look at couple of exits and also add two more companies in the portfolio that could fetch additional institu*tional fun*ding. From the $10 million Ventureast Tenet Fund, we would also make two-three investments,” Sateesh Andra, MD, Ventureast Tenet Fund told Financial Chronicle. He had joined the Hyderabad-based VC recently after being with Draper Fisher Jurvetson for five years as venture partner.
The incubation stage focused fund Ventureast would make investments in technology startups with focus on internet mobility, healthcare, cleantech or financial services which also have a social impact. “Typically it takes about seven to ten year window, and, if lucky, the exit can take place in two to three years as well. In five years, there would be more clarity on how markets are playing and how the venture is going ahead,” he said.
The upcoming fund will look at products and services that reach global markets like US, Europe and Southeast Asia. “We will work with a concept ‘entrepreneurs in residence,’ where we will host startup ventures, work with them for three to six months and pay them a stipend till then. This will of course be with a select few,” Andra said. The current fund, sponsored by Ventureast and Group of IIT Madras, has seen investments like Vortex, Mobien, Seclore, Desicrew and Rope Foundation, investing arou*nd $1-2 million each in ten portfolio companies.
According to him, last five years have seen changes in the early stage venture ecosystem with companies gaining better velocity with sales and marketing professionals as part of the founding team. “In early stage it is difficult to sell a vision. A venture goes through the cycle of validating the right idea and talent, then looking at customer followed by knowing whether they are capturing value. For a VC, the risk is high because of formative stages,” he said.
October 9th, 2012, 05:02 PM
DQE, US firm ink co-production deal for 'Raz & Benny' (http://business-standard.com/india/news/dqe-us-firm-ink-co-production-deal-for-razbenny/190342/on)
Both the cos plan a series of strategic meetings during MIPCOM with a debut of a promo produced by DQE
DQ Entertainment (International) Limited, a Hyderabad-based animation, game art and entertainment company, has signed a deal with California-based Foothill for development, co-production and distribution of animated buddy comedy ‘Raz & Benny’.
Both the companies plan a series of strategic meetings during the ongoing MIPCOM, a television and entertainment market which is held in the town of Cannes once every year, with the debut of a promo produced by DQE.
Created by UK-based director Simon Hodgkiss of Rockkiss DME, the computer-generated imagery (CGI) series is the tale of two mice whose ambitions are bigger than their brains, but whose good luck is as endless as their friendship.
Often inspired by their eccentric pal Lilly, dare-devil Raz and cautious Benny are always off on one adventure or another, which usually starts with a “big idea” Whether posing as international spies, scuba-diving submarine rescuers or expert explorers in the deepest jungle, inseparable Raz and Benny consistently deliver the laughter and come out on top.
“Raz & Benny is such a fun project and we are really looking forward to working with Foothill to bring this property to life,” said Tapaas Chakravarti, chairman and chief executive officer of DQE.
DQ Entertainment’s scrip is currently trading at Rs 20.10 on the BSE, up 2.29%, from previous close of Rs 19.75 a share.
October 10th, 2012, 09:22 PM
GVK Power gets nod for port development in Australia (http://www.business-standard.com/india/news/gvk-power-gets-nod-for-port-development-in-australia/489179/)
Hyderabad-based GVK Power and Infrastructure Limited has received Australian federal government's approval for its Terminal-III (T3) development at the port of Abbot Point, near Bowen in Australia, under the environment protection and biodiversity conservation Act 1999.
Today's approval for GVK's Alpha Coal Port Project at Abbot Point, follows a separate approval for the Alpha mine and rail projects on August 23.
GVK Hancock’s $10 billion Alpha Coal Project involves a thermal coal mine in the Galilee Basin, a 495-kilometre standard gauge railway line and port facilities at Abbot Point. Pending all approvals, first coal from the Alpha project is scheduled for early 2016 with the product bound for the Asian export market.
“The development further strengthens our commitment to develop our world-class projects in a timely and responsible manner,” GVK chairman GVK Reddy said in a filing to the BSE on Wednesday.
Besides creating thousands of jobs, the combined Alpha mine, rail and port project's returns to the Australian government of over $1 billion each year in royalties and taxes will enure more money for governments to spend on infrastructure, health, schools, police, services, local communities, careers for the next generation and sport and recreation, it said.
The approval also provides for over $20 million of GVK expenditure during the initial project approval life for indigenous rangers and other state-federal support for the Great Barrier Reef Field Management Programme, and other reef conservation benefits through the Great Barrier Reef Marine Park Authority. In addition, GVK through its mine and rail conditions, will also specifically provide a $2-million contribution to the coordination of research into precious fauna over 10 years, the release added.
October 11th, 2012, 11:42 PM
Netxcell adds new features to video OBD (http://www.business-standard.com/india/news/netxcell-adds-new-features-to-video-obd/190711/on)
Company took the lead by developing the first VOBD last year for the 3G market
Netxcell Limited, a Hyderabad-based mobile applications and value-added services (VAS) provider, has added new features to its video outbound dialer (VOBD) product to enable telecom operators in analysing the impact of a particular campaign or promotion, which ultimately plays an important role in adding to their top lines.
Netxcell took the lead by developing the first VOBD last year for the 3G market. The new version of the VOBD is now more interactive and can support multiple audio and video codec (a device or computer program capable of encoding or decoding a digital data stream or signal), which will help telecom operators in bringing a greater range of 3G handsets into the ambit of VOBD services.
“The new VOBD version will also enable the operator to run video contests and promotions of movie trailers as well, in a much better manner as the subscribers will be able to visually experience, interact and participate in a virtual contest environment and get a feel of new movies to be released at the comfort of their handsets,” said Dabasis Chatterji, chief executive of Netxcell.
The company also said that its IOBD (intelligent OBD), an in-built module of its OBD product portfolio, would strengthen location-based services. The new addition is capable of querying the core network elements of the operators to identify the subscriber location.
According to Chatterji, IOBD is designed to deliver instant alert and call patching in a much shorter time duration than currently possible (the moment a customer comes back to the network, thus ensuring the communication flow to him without missing out). These features enable the telecom operator to recognise when a subscriber latches onto a network and then help the system to connect the call accordingly.
“This will help in increasing the contact percentage, thus enhancing the productivity of a marketing campaign. It also supports the telecom operator through a number of new services like customer profiling, segmented campaigning, user behaviour analysis and business intelligent module,” he added.
October 11th, 2012, 11:51 PM
Toys e-tailing gaining steam in India (http://business-standard.com/india/news/toys-e-tailing-gaining-steam-in-india/190732/on)
With improved infrastructure such as logistics and wider penetration of courier services in even smaller towns, coupled with rising disposable income levels, the domestic online toys retailing market is gaining momentum, according to industry players.
“Convenience of buying and home-delivery, discounts of up to 50% and product reviews that help the customers take an easy decision, are also the factors that are triggering the growth of online toys market in the country,” says Prashanth Gowriraju, founder and chief executive of Hyderabad-based Hoorayy Technologies, which floated exclusive online toys store Kidloo.com.
Kidloo.com, which at present is doing about 120 transactions day with an average ticket size of Rs 1,200, has closed the year ending March 2012 with a turnover of Rs 2.5 crore, and is gunning at 3X from the last year.
The kids market in India is estimated to be at Rs 26,000 crore of which the toys segment alone comprises Rs 5,000 crore. About Rs 1,700 crore of this is organised, which is majorly captured by Chinese products. Now on a growth path, registering a year-on-year growth of 35%, the domestic market is set to touch Rs 11,500 crore by 2014.
Though the Indian online toys retailing currently accounts for 5 per cent of the overall toys market, it is expected to grow at a compound annual growth rate of 25%, on the back of change in people’s perception, growth in playschools and increasing awareness on quality issues.
According to Rishabh Garg, director of Spire Online Services’ WoWkart.com, a Noida-based online toys shopping site, an interesting phenomenon that has started kicking in is of ‘age compression’, where children are abandoning the traditional toys in favour of video games at an earlier stage than before.
“Currently, a majority of the players in this segment are targeting the children from zero-plus months to 12 years of age, and selling from consumerables like baby soaps and diapers, to toys. Due to the increased focus on child safety, branded toy sales are soaring. Also, growth in the Indian middle-class, which places much emphasis in child education, is resulting in increased sales of educational and learning toys,” he adds.
The new trends WoWkart foresees in the online toys market are towards increase in the interactive component of e-commerce sites with toy experts, who can guide customers to make the right purchases based on their child developmental requirement, Garg says, adding that the company was currently making revenues of Rs 5 lakh a month, and was aiming to reach up to Rs 8 lakh per month, within six months from now.
October 12th, 2012, 05:58 PM
IMImobile OPENHOUSE, India’s first cloud based mobile engagement platform launched (http://www.itnewsonline.com/showrwstory.php?storyid=9330)
Hyderabad, October 12, 2012 - IMImobile, a leading global specialist provider of mobile data platform and services to telecom operators and enterprises, today announced the launch of IMImobile OPENHOUSE, a secure, cloud-based mobile engagement (m-Engagement) platform in India. IMImobile OPENHOUSE acts as a value-add bridge between telecom networks on one side and businesses, developers, and service providers on the other side. It unleashes the power of the mobile medium for businesses and opens up new revenue streams for operators.
IMImobile OPENHOUSE will now allow businesses to quickly setup and launch multi-channel customer engagement and employee productivity services using its ready-to-use engines. Developers can now use standards-compliant APIs on this unique m-engagement platform to incorporate mobility into their applications and services. Marketers, enterprises, and developers can now quickly and easily create and launch services, applications and campaigns. IMImobile OPENHOUSE also enables telecom operators to open up their network for innovation and monetize their network assets thus increasing their ARPUs.
IMImobile OPENHOUSE lays the foundation for establishing a vibrant marketplace for innovative business applications. It offers two types of services: Business Tools and APIs. Business Tools, aimed at enterprises of all sizes, are ready-to-use services, which are easy to use even for a first-time user. Developers can use APIs to directly incorporate mobile operator connectivity and IMImobile OPENHOUSE's platform capabilities within their business applications. The APIs comply with the latest industry standard protocols, so innovative services can be created without having to learn proprietary protocols or technologies.
Announcing the IMImobile OPENHOUSE launch, Mr. Vishwanath Alluri, Founder & CEO, IMImobile said, "We believe our technology and our customers' business potential must evolve together. So we created IMImobile OPENHOUSE, a revolutionary new platform that lets businesses create their own services and solutions so that innovation is no longer restricted. This will help them work together much more easily without business obstacles or technical complexity."
He added, "We estimate customer and employee engagement and employee productivity to be the prime drivers for this m-engagement platform. IMImobile OPENHOUSE has the first mover advantage to address and garner a substantial portion of this Rs. 8,000 crore market."
IMImobile OPENHOUSE offers interactive business tools like SMS broadcast, Voice broadcast, Shortcodes, Longcodes, Keywords, Missed call to SMS, Missed call to call, SMS to call, Click to call, Polls, and Virtual IVRS. It also offers APIs such as Messaging API and Voice APIs.
IMImobile was founded in 1999 with the singular vision of becoming a global specialist provider of mobile data platform and services. Having executed strongly against that vision, IMImobile today is a leading provider of mobile data platform and services to over 96 telecom operator and dozens of blue chip enterprises and media companies worldwide. IMImobile pioneered the managed services model to eliminate CAPEX for its customers and de-risk the launch of new services.
Headquartered in Hyderabad, IMImobile today employs over 650 professionals spanning in offices in London, Dubai, Athens, Mumbai, Delhi, Colombo and Dhaka. The IMImobile products and services portfolio is built on its much acclaimed core modular platform called the DaVinci Evolved Service Platform built over 12 years. This platform is hosted in the cloud and deployed across six data centers in Asia, Europe and the Americas on over 1,200 high-end servers centrally managed, monitored and upgraded from its VNOC in Hyderabad. IMImobile has built on top of this platform a suite of solutions that allow operators and enterprises to drive revenue generation, self-care, customer acquisition, customer retention and customer engagement through the mobile device.
With a global client portfolio of over 100 Blue Chip companies, IMImobile's services are available to over 1 billion subscribers in over 72 countries. IMImobile has been acknowledged with awards both at national and international levels.
For more information, please visit www.imimobile.com
October 12th, 2012, 06:04 PM
Country Club plans fitness centres (http://www.business-standard.com/india/news/country-club-plans-fitness-centres/489326/)
Hyderabad-based Country Club India Ltd (CCIL) is investing Rs 350 crore into a chain of 100 fitness centres across the country in the next four years. It opened one such centre at Juhu in Mumbai on Thursday, according to CCIL chairman Y Rajeev Reddy.
"We are investing close to Rs 3.5 crore in each fitness centre whose size will broadly range between 4,000 and 10,000 sft. These fitness centres boast latest equipment, are well managed and have experts on board to address the fitness needs of our members,” Reddy stated in a press release.
In the first phase, he said, CCIL would focus on multiple locations in major metros. Thereafter, it would enter Tier II cities with the aim of establishing a pan India network. CCIL also intends to take this fitness initiative offshore to boost its NRI memberships.
Over the past three years, CCIL is stated to have spent nearly Rs 750 crore on creating and consolidating a pan India network and also on its West Asian foray.
It had entered Dubai in 2008 by taking over an existing luxury boutique hotel for Rs 175 crore.
Besides Dubai, CCIL currently has operations in Sri Lanka and Thailand.
It owns and operates over 55 clubs across India and abroad and has over 300,000 members.
October 14th, 2012, 05:13 PM
Premier Explosives starts producing ‘safe, green’ detonator (http://www.thehindubusinessline.com/companies/premier-explosives-starts-producing-safe-green-detonator/article3994692.ece)
HYDERABAD, OCT 13:
Premier Explosives Ltd has started production of what it claims is a ‘safe, green detonator’ at its Peddakandukuru facility in Nalgonda district, Andhra Pradesh
The detonator uses Nickel hydrazine nitrate, a chemical that is 30 per cent less sensitive compared to conventional chemicals. Detonators are usually made with the composition of lead azide and lead styphnate. These chemicals are highly sensitive to friction/impact and are thus more prone to accidental explosions, the Hyderabad-based listed company said.
The new detonator, however, will help Premier significantly reduce the risk in production, it said. It is also more environmental friendly compared to the traditional Lead-containing chemicals which are highly toxic and polluting, the company said in a statement.
Premier Explosives, which makes propellants for India’s strategic sectors and explosives for the mining industry, had a few months back developed and stabilised the production process on a pilot plant using the new chemical as raw material.
The new chemical for the detonators has received necessary approvals from regulatory authorities.
The company has been developing indigenous technology for the production of explosives. It has the credit of manufacturing CL-20, the most powerful explosive ever known. It is also the only private sector entity manufacturing solid propellants for various missile programmes in India, the statement said.
October 15th, 2012, 09:55 PM
CMC Q2 Profit Grows (http://www.rttnews.com/1983180/cmc-q2-profit-grows.aspx?type=in&utm_source=google&utm_campaign=sitemap)
CMC Ltd., provider of information technology solutions in India and a subsidiary of TCS, reported a higher net profit, both on consolidated and stand-alone basis, on increased income
The Hyderabad-based company posted second-quarter consolidated net profit of Rs.49.40 crore or Rs.16.30 per share, 51 percent higher than the Rs.32.63 crore or Rs.10.77 per share reported in the second-quarter of 2012.
Quarterly net income rose by 28 percent to Rs.458.26 crore from Rs.357.16 crore in the corresponding quarter last year, while other operating income was Rs.0.38 crore, compared with Re.0.53 crore for the same period last year.
For the quarter, income from 'Customer Services' segment fell by eight percent to Rs.77.71 crore from Rs.84.51 crore in the corresponding quarter of the preceding year, while that of 'Systems Integration' grew by 37 percent to Rs.280.96 crore from Rs.204.45 crore in the year-ago quarter.
Income from 'IT Enabled Services' segment during the quarter was Rs.72.05 crore, up by 49 percent from Rs.48.45 crore for the quarter ended September 30, 2011, whereas that from 'Education & Training' rose by five percent to Rs.16.26 crore from Rs.15.44 crore for the same period last year.
Income from 'Special Economic Zone' stood at Rs.11.65 crore, up by percent from the Rs.4.84 crore in the preceding year quarter, whereas other 'Unallocated' segment was Rs.1.14 crore, compared with Rs.4.93 crore in the prior year quarter.
For the first six months, CMC posted consolidated net profit of Rs.107.83 crore, up by 60 percent from Rs.67.51 crore for the comparable period a year-ago. Total income, including other operating income, amounted to Rs.910.93 crore, compared with Rs.663.27 crore for the six-month period ended September 30, 2011, reflecting a 37 percent growth.
CMC's second-quarter stand-alone net profit was Rs.64.76 crore or Rs.21.37 per share, up by 27 percent from Rs.51.17 crore or Rs.16.89 per share during the first three-month period of the preceding year. Total income, including other operating income, increased by 11 percent to Rs.260.91 crore from Rs.234.65 crore in the previous year quarter.
For the six-month period, the company's stand-alone net profit increased by 40 percent to Rs.108.34 crore from Rs.77.33 crore for the comparable period in the preceding year. Total income during the period grew by 19 percent to Rs.527.22 crore from Rs.442.81 crore for the six-month period ended September 30, 2011.
CEO and MD R. Ramanan said, "The company continues to see good growth potential for its offerings across all business segments and geographies even in a challenging business environment."
October 16th, 2012, 06:55 PM
LivLife Hospital to raise Rs 50 cr (http://www.business-standard.com/india/news/livlife-hospital-to-raise-rs-50-cr/489817/)
Hyderabad-based LivLife Hospital, a boutique hospital chain, is planning to raise Rs 50 crore in the next three months to support its pan-India expansion plan.
LivLife, which started its operation in 2011, runs two hospitals in Hyderabad and Vijayawada. Based on a boutique hospital concept, it offers integrated healthcare and custom-made solutions for bariatric treatment, advanced laparoscopic surgeries, cosmetic dermatology, etc.
The hospital chain has plans to set up 10 centres pan-India over the next two years with an investment of total Rs 100 crore.
“"So far, we had been self-funded. But for our proposed expansion plan, we are planning to raise around Rs 50 crore from HNIs (high networth individuals) and venture capital players over the next three-four months,” Nandakishore Dukkipatti, managing director of LivLife Hospital, told Business Standard, adding the rest would be internally funded.
“Many VCs have shown interest in the venture seeing the immense growth potential in this segment in future,” he added.
He said they had treated 300 patients.
Dukkipatti pointed out, “Of the total 1.2 billion population in India, around 9 per cent suffers from obesity and the number is growing. There are only a handful of obesity surgeons — roughly around 200 specialists in the country.”
October 17th, 2012, 03:30 PM
Infotech Q2 net surges 64% to Rs 50 cr (http://www.business-standard.com/india/news/infotech-q2-net-surges-64-to-rs-50-cr/191687/on)
Infotech Enterprises Limited, a Hyderabad-based engineering solutions provider, witnessed a 63.66 per cent growth in its net profit to Rs 50.31 crore for the second quarter ended September 2012, as compared to Rs 30.74 crore in the corresponding quarter last year.
The company’s PAT, however, declined 22.25 per cent (Rs 64.71 crore in Q1 of FY13) sequentially, on account of notional foreign exchange losses on restatement of foreign currency receivables due to rupee appreciation in the current quarter, as compared to the depreciation in Q1.
“Our business continues to grow steadily. We have seen volume growth, stable margins and a robust pipeline. Our order pipeline is strong and we are confident of growing at a higher rate in the second half than in H1. We believe we can at least maintain the same margins over the second half of the year,” BVR Mohan Reddy, chairman and managing director of Infotech, said in a release on Wednesday.
The company, which has cash balances (including liquid investments) of Rs 471 crore, has made a net addition of 759 employees in the first half of the current financial year, taking its global manpower to over 10,000.
Infotech has staffed its special economic zone (SEZ) facility in Hyderabad with 426 seats, and the Kakinada and Noida SEZs are on track, which will be complete by the third and fourth quarters respectively, the release added.
October 18th, 2012, 10:02 PM
NSL Renewable confident of raising $100 m by March (http://www.thehindubusinessline.com/industry-and-economy/economy/nsl-renewable-confident-of-raising-100-m-by-march/article4009023.ece?homepage=true&ref=wl_home)
CHENNAI, OCTOBER 18:
NSL Renewable Power, part of the Hyderabad-based NSL group, is confident of raising $100 million of equity by March 2013, the Chief Executive Officer, Sanjay Chaturvedi, told Business Line today.
Term sheets have been signed for $50 million and the deal(s) could be closed within two months, he said.
While Chaturvedi did not name the investors, it is known that IFC, the private equity arm of World Bank, is considering investing $19 million in NSL Renewable.
In the past, NSL Renewable has raised equity funds from FE Clean Energy and IFC.
NSL is putting up two wind farms in Maharashtra — of 75 MW and 110 MW. “We have completed the development work and have begun construction,” he said.
He said despite “execution problems” in Maharashtra, the State was good for wind investments because of the better tariffs (of around Rs 5.50).
Chennai-based ReGen Powertech, in which the NSL group has a sizeable stake, is the supplier of wind turbines for one of the wind farms. For the other, NSL Renewable is evaluating various options, including ReGen Powertech. ReGen Powertech produces wind turbines at its plant near Chennai with technology from Vensys of Germany.
October 18th, 2012, 10:16 PM
Ramky acquires Entech Industries' arm (http://www.financialexpress.com/news/ramky-acquires-entech-industries-arm/1018737/)
Hyderabad: Ramky Enviro Engineers today said it has acquired the specialist environmental consultant and technical services business of Entech Industries.
Entech, a subsidiary of Australia's Tox Free Solutions, provides innovative environmental and waste treatment solutions to government and industrial customers in Australia and China, Ramky said in a release.
However, no financial details of the deal were disclosed.
It is certainly an achievement for Ramky to acquire Entech and able to extend services to the Indian and International Multinational customers in Australia and Greater China, Ramky Group Chairman Ayodhya Rami Reddy said.
"It complements our suite of capabilities and regional presence, providing innovative environmental services and treatment solutions both in the advanced and the emerging markets. While Ramky is ambitious and achieving good growth in selected markets, we are also careful in our investment approach," Reddy said.
Understanding the increasing emphasis on resource recovery and innovative waste treatment solutions, Ramky is constantly developing cost-effective and techno-commercially proven solutions to help customers meet their environmental and waste management needs, it said.
Australia and China provides Ramky an enhanced platform to tap on advanced technologies and large growth markets.
The company comes with experienced professionals with established track records in the region.
The businesses trading as Entech Environmental Services Australia and Entech China are being managed by Ramky International (S) Pte Ltd, Singapore, it said.
Shares of Ramky Infrastructure today closed at Rs 109.55 apiece on the BSE, up 1.86 per cent over the previous close.
October 18th, 2012, 10:19 PM
DQE inks pacts totalling $6 mn at MIPCOM (http://business-standard.com/india/news/dqe-inks-pacts-totalling-6-mn-at-mipcom/191814/on)
DQ Entertainment (International) Limited, a Hyderabad-based animation, game art and entertainment company, has singed several new production, distribution and licensing agreements at the recently concluded MIPCOM, the world market for TV & Media, at Cannes.
"The company estimates that approximately $6m revenue will be generated over the next 2 years from these various agreements," the company said in a press release today.
At MIPCOM, DQ has entered a production agreement with France-based Method Animation to co-produce the third season of 'The Little Prince', the animated 3D TV series with an approximate budget of $9.1 million; and with California-based Foothill for development, co-production and distribution of animated buddy comedy ‘Raz & Benny’ with a global production budget of $7 million.
Along with, the company has entered several other licensing, distribution and co-production deals with Indonesia-based Global TV, Thailand-based Workpoint Entertainment Public Company, Turkey-based ATV Turkey, Cheers Media and Aljazeera’s kids channel JCCTV for its animated properties.
The properties include Galactick Football, The New Adventures of Lassie & Friends, Robin Hood–Mischief in Sherwood, Tara Duncan, Iron Man Season 2, The New Adventures of Peter Pan and Charlie Chaplin.
"We have concluded several new agreements and generated leads for new business in the future. We are delighted with the support of our long standing partners Method Animation France, ATV Turkey and JCCTV Middle East for their continued support of our properties," Tapaas Chakravarti, chairman and chief executive officer of DQE, said.
The company's scrip is currently trading at Rs 22.70 on BSE,up 0.22 % over the previous close of Rs 22.65.
October 20th, 2012, 12:12 AM
Pennar bags order worth Rs 500 mn (http://www.myiris.com/newsCentre/storyShow.php?fileR=20121018171422718&dir=2012/10/18)
Pennar Engineered Building Systems, a subsidiary of Pennar Industries, has bagged four orders worth Rs 500 million from IOT Infrastructure & Energy Services (IOT), Oil Country Tubular (OCTL), Dynatron Services (P) and East Line Steels (P).
It has bagged a design, manufacture, supply and installation order contract from IOT, a joint venture between Indian Oil Corporation and Germany-based Oil Tanking, to build a product warehouse package (spread across 128,250 sqm) at ONGC Petro Chemical Complex in Dahej, Gujarat, on EPC basis, the company said.
Pennar has bagged other similar projects including, to build a pipe processing plant building near Narketpalli in Andhra Pradesh from OCTL, which is set to be completed in 14 weeks; to build a general engineering and ship repair workshop building at Shirwad Industrial Area in Karnataka from Dynatron Ship by January 2013; and to build school buildings sponsored under the Sarva Shiksha Program by the Central Government by March 2013 from the East Line Steels.
PV Rao, executive director, PEBS Pennar, said, "These four orders build up our order book which currently stands at Rs 2.85 billion. We are confident to sustain this robust growth profile during this financial year.â€ť
Shares of the company declined Rs 0, or 0%, to settle at Rs 26.25. The total volume of shares traded was 6,446 at the BSE (Thursday).
October 23rd, 2012, 10:45 PM
Hyderabad firm acquires Belgian coal tar company (http://timesofindia.indiatimes.com/business/india-business/Hyderabad-firm-acquires-Belgian-coal-tar-company/articleshow/16922913.cms)
HYDERABAD: Whenever he's in India, N Jagan Mohan Reddy (not to be confused with his better known namesake and politician Y S Jaganmohan Reddy) prefers driving around Hyderabad in his old Maruti Zen car unlike some of his other more flamboyant Reddy counterparts who favour flashier wheels.
But on Monday, the low-profile managing director of littleknown Hyderabad-based Rain Commodities sent the market into a tizzy when his company announced a staggering Euro 702 million or $915 million buyout of 160-year-old Belgian coal tar pitch manufacturer Rutgers NV from private equity player Triton, making it one of the big-ticket overseas acquisitions of recent times.
Rain Commodities informed the bourses on Monday that the Rutgers acquisition, which is subject to regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2013, would be funded through a combination of internal cash accruals and an issue of Euro 533 million long term bonds.
What many don't know is that the 40 something N Jagan Mohan Reddy is related to P Pratap Reddy of Penna Cements, who is already in the eye of a storm over his proximity to YSR Congress chief Jaganmohan . Pratap Reddy is married to the Rain Commodities chairman N Radhakrishna Reddy's daughter.
Not too many in Hyderabad's business circles know much about the father and son duo. The few who do know them describe them as extremely low profile. So low profile are the Rain Commodities' promoters, who hold 43.72% stake in the company, that neither does the annual report of the company contain the customary chairman's speech and photograph nor does its very sketchy website have any details of the promoters and management team.
In fact, the Reddys of Rain Commodities, who hail from Nellore, reside in an unostentatious building in the upper middle class locality of Srinagar Colony instead of the more posh Banjara or Jubilee Hills areas that are preferred by most business barons of Hyderabad.
October 23rd, 2012, 11:03 PM
Gati Kausar to ramp up reefer fleet to 350 (http://www.business-standard.com/india/news/gati-kausar-to-rampreefer-fleet-to-350/490489/)
As part of its restructuring strategy, Gati had, in 2011, acquired Delhi-based cold chain company Kausar (India) Limited, which offers both cold and ambient supply chain solutions
Gati Kausar, a cold chain transportation solutions subsidiary of Hyderabad-based Gati Limited, is planning to increase its reefer fleet (refrigerated trucks) from the current 162 to 350 by 2015.
“Gati Kausar’s business strategy will focus primarily on organised retail, including food chains, pharmaceuticals, dairy products, agro products and FMCG,” Gati said in a press release.
As part of its restructuring strategy, Gati had, in 2011, acquired Delhi-based cold chain company Kausar (India) Limited, which offers both cold and ambient supply chain solutions.
The company is also betting big on the express distribution and supply chain (EDSC) segment, and expects a growth of over 20% in this business through synergies and improve profitability through cost efficiencies.
Gati had completed a 70:30 joint venture (JV) with $3.5-billion Japanese multinational, Kintetsu World Express (KWE), to form 'Gati Kintetsu Express Private Limited' for its EDSC business. KWE had invested Rs 267 crore in the JV.
October 23rd, 2012, 11:05 PM
Dr Reddy's Labs to acquire OctoPlus NV for Rs 192 crore (http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/healthcare/dr-reddys-labs-to-acquire-octoplus-nv-for-rs-192-crore/articleshow/16921007.cms)
HYDERABAD: Dr Reddy's Laboratories has agreed to buy the entire equity holding of the Dutch injectable specialty generics manufacturer OctoPlus NV for 27.39 million euro ( 192 crore) in an all-cash deal.
The Hyderabad-based company said on Monday that OctoPlus' expertise in making improved injectable pharmaceuticals based on proprietary drug delivery technologies and focus on medicine ingredients that are difficult to formulate complement it capabilities.
The offer price of 0.52 per share represents a premium of 30% over the closing stock price of OctoPlus on the NYSE Euronext on Friday. The transaction is expected to be completed within six months from the settlement date.
Shares of Dr Reddy's closed nearly 1.5% higher at 1,728 on the NSE on Monday.
The executive and supervisory boards of OctoPlus unanimously recommended the offer to their shareholders. The key equity holders of OctoPlus, who hold 49.4% in the company, and individual board members with 1.1% stake have agreed to tender their shares.
Dr Reddy's and OctoPlus will terminate the merger if the Dutch company receives an offer that is "considered substantially more beneficial than that of Dr Reddy's and exceeds the offer of Dr Reddy's offer price by at least 10%".
October 27th, 2012, 12:16 AM
Award for detective agency (http://www.thehindubusinessline.com/news/award-for-detective-agency/article4034924.ece)
HYDERABAD OCT. 26:
Hyderabad-based Sharp Detective & Security Service has been awarded the best private security and detective agency in Andhra Pradesh by Big Research, as part of the Business & Service Excellence Awards 2012 presented at Bangalore.
Former Indian cricket captain Krishnamachari Srikkanth presented the award to Viqar Ahmed Shafeeq, CEO of the agency.
The selection was based on the extensive opinion surveys for Southern India Business & Services Excellence Awards 2012 conducted by Big Research over the last few months.
October 27th, 2012, 12:17 AM
Mahindra Satyam names Rebecca Blalock as strategic advisor, E&U business (http://business-standard.com/india/news/mahindra-satyam-names-rebecca-blalock-as-strategic-advisor-eu-business-/192993/on)
Blalock will support organisation's North American region for business expansion and strengthening client relationships
Hyderabad-based consulting and IT services provider Mahindra Satyam has appointed Rebecca ‘Becky’ Blalock as strategic advisor for its energy and utilities (E&U) business.
Becky will be at the forefront, supporting the organisation’s North American region for business expansion and strengthening client relationships. Her experience will facilitate expansion plans in the market as the organisation explores opportunities to offer a wide service suite for its E&U vertical, Mahindra Satyam said in a filing to the BSE.
“We look forward to benefiting from her experience and leadership in the utility and information technology industries. Becky is uniquely qualified to help us continue to excel in fostering innovation and delivering service excellence to our customers,” said Satyam chief executive officer, CP Gurnani.
Prior to her new role, Becky Blalock was senior vice-president and chief information officer of US-based power generation firm Southern Company, directing IT strategy and operations across 120,000 square mile and nine subsidiaries, and led 1,400 employees and contractors.
Mahindra Satyam’s scrip is currently trading at Rs 105 on the BSE, up 0.53%, over the previous close of Rs 104.45.
October 31st, 2012, 01:15 AM
IVRCL promoters up stake by over 1% (http://www.thehindubusinessline.com/markets/stock-markets/ivrcl-promoters-up-stake-by-over-1/article4044104.ece?ref=wl_markets)
HYDERABAD, OCT. 29:
Promoters of IVRCL Ltd have increased their stake in the company from 11.21 per cent in the June quarter to 13.70 per cent in the September quarter.
According to latest filings made with the stock exchange about the shareholding pattern, the IVRCL promoters have increased their stake in the company marginally recently.
The Hyderabad-based company, which was in the news about six months ago when Essel group firms Asian Satellite Broadcasting and Jay Engineering had acquired stake in the company, taking it past that of the IVRCL promoters.
That was when there was the talk about the possibility of a tussle between Essel Group promoted by Subhash Chandra and the promoters of IVRCL led by E. Sudhir Reddy, its Chairman and Managing Director.
Since the recent developments, the IVRCL management is now focused on consolidating its business and divesting take in some of the matured build, operate and transfer (BOT) projects.
However, late in September and October, the Essel Group decided to exit the IVRCL stock stating that it no longer fits its interest as IVRCL promoters have decided to change their business strategy to focus on EPC contracts.
According to the shareholding pattern, the IVRCL promoters now hold close to 14 per cent, FIIs 23.44 per cent, DII 2.93 per cent, and others 59.93 per cent.
On Monday, the IVRCL shares closed at Rs 41.55 down 0.84 per cent, on the BSE.
October 31st, 2012, 01:21 AM
Dr Reddy’s Q2 net up 32%, beats forecast (http://www.livemint.com/Companies/5X4LCjw8lqwA8ShSQVy2PL/Dr-Reddys-Q2-net-up-32-beats-forecast.html)
Hyderabad: Drug maker Dr Reddy’s Laboratories Ltd on Tuesday posted a 32% jump in net profit for the quarter ended September, beating Street expectations on the back of strong sales of generic drugs in its key North American market and a surge in its active pharmaceutical ingredient and services business.
Net profit rose to Rs.407.4 crore from Rs.307.8 crore in the year earlier on a consolidated basis. Income from sales rose 27% to Rs.2,880.9 crore from Rs.2,267.8 crore. Analysts expected net profit at Rs.373 crore on net sales of Rs.2,783 crore, according to Thomson Reuters I/B/E/S survey.
Revenue from North America grew 47% to Rs.927 crore from the year earlier.
Growth was largely driven by products for which there aren’t too many competitors such as schizophrenia drug ziprasidone, anti-allergy drug tacrolimus, anti-coagulant drug fondaparinux and cardiovascular drug clopidogrel, besides a boost in the antibiotics portfolio and products from the Shreveport facility, the company said.
Dr Reddy’s launched four new products during the quarter, including cardiovascular drug atorvastatin, metoprolol, the montelukast family of medications and the antibiotic amoxicillin.
“Despite continuing price erosion, the focus on limited competition products and consistent supplies helped us to improve sales in US,” said Abhijit Mukherjee, president and head of global generics at Dr Reddy’s.
The company said 30 of its products from the prescription portfolio are ranked among the top three in their respective market shares.
Revenue from Russia and other CIS (Commonwealth of Independent States or former Eastern Bloc) markets recorded a growth of 14% to Rs.380 crore, while India revenue grew 12% to Rs.390 crore.
However, revenue from Europe declined 16% to Rs.180 crore, and Germany by 11% to Rs.110 crore.
“Europe is a tough market with pricing pressures,” Mukherjee said. “We are trying to redefine our business model by strong cost-control measures and new product launches to partially offset the negative price variance.”
The Betapharm Arzneimittel GmbH unit contributes about 70-75% of revenue in Europe. Dr Reddy’s bought Betapharm, the fourth-largest German generic drug marketing firm, for €480 million in February 2006. Due to a sharp decline in price in the German market on account of a policy shift from a prescription-based model to a tender-based one, Dr Reddy’s has been struggling to turn the company around.
The active pharmaceutical ingredients and services business recorded a growth of 33% to Rs.790 crore in the second quarter on account of several patent expiries of innovator drug companies and new customer orders.
“If the operating model is leveraged, hopefully we can sustain the same level of growth for one to two quarters,” said Umang Vohra, chief financial officer of Dr Reddy’s.
“The results are in line with our expectation,” said Sarabjit Kaur Nangra, vice-president (research) at Mumbai-based brokerage firm Angel Broking Ltd. “But the next two quarters could be a bit subdued due to intense pricing pressure in the US market.”
Dr Reddy’s gained 1.58% to Rs.1,723 on BSE on Tuesday, while the benchmark Sensex declined 1.10% to 18,430.85 points.
November 6th, 2012, 09:39 AM
IVRCL bags Rs 515 crore orders (http://timesofindia.indiatimes.com/business/india-business/IVRCL-bags-Rs-515-crore-orders/articleshow/17099835.cms)
HYDERABAD: Hyderabad-based infrastructure company IVRCL Ltd on Monday said its buildings, power and transportation divisions had bagged orders worth Rs 514.75 crore.
While the buildings division has got the chunk of orders worth Rs 424.09 crore, the power division has bagged orders worth Rs 70.63 crore and the transportation division has got orders worth Rs 20.03 crore, the company informed the bourses.
The buildings division of the company has bagged projects from NTPC Ltd, Noida, for the SG area and offsite civil works package for the first phase of the (3x800mw) Kudgi Super Thermal Power Project as well as the Centre's CPWD for construction of academic complex and canteen building for IIT Madras.
In addition to this, the company has bagged a project for construction of semi-cryo test facility at Tamil Nadu from the Indian government's department of space.
The company has bagged multiple orders from the Tamil Nadu Generation and Distribution Corporation Ltd including for execution of distribution strengthening works in Dindigul, Pudukottai and Aranthangi towns on a turnkey basis.
IVRCL Ltd has also bagged an order from the government of Andhra Pradesh for construction of a rail over bridge at Palasa on Visakhapatnam-Bhubaneswar road in Srikakulam district.
November 12th, 2012, 09:30 PM
Hyderabad: Bluemax Impex is an Andhra Pradesh based electronic devices distribution company and it launched mobile phones under the brand name ‘Blu’. The handsets was launched on 11th October, 2012. Their range of products includes dual SIM mobile phones that cost between Rs. 999 to Rs. 1,650. The company also launched a tablet PC which comes for the price of Rs. 5,500.
Bluemax MS Raju Harwani spoke to the reporters on this occasion. He informed that the company will launch 3G SIM tablets and android phones with display screen of 3.5 to 5 inches. The prices of android phones of the Bluemax Company will be below Rs. 3,500 he said. The company is planning to sell at least one lakh mobile phones and six thousand tablets in three months.
Bluemax Impex, the Hyderabad based company is going to set up assembling unit in Hardware Park in Hyderabad. The company will invest Rs. 100 core for this project. Harwani informed that the Andhra Pradesh government allotted two acres of land for the assembling unit. Assembling of Tablet PCs, cell phone batteries and LED televisions will be taken up in this assembling unit. The company is also planning to launch a 32 inches LED television for Rs. 17,000.
Bluemax launched various models into the market after they were successfully tested. Bluemax are the distributors of 4 china brand phones and monthly they are selling around 1.5 lakh phones. Raju Harwani is also director of Supreme Recording Company.
J Geeta Reddy, MP Madhu Yashki, popular singer Baba Sehgal and Bluemax brand ambassador Kamna Jethalmani were also present at the launching of Blu mobiles in Hyderabad.
Bluemax Impex Company used to import mobile phones from China and distribute them in Indian markets. Later they began to sell the products under the brand name ‘Blu’. The handsets which were launched on 11th November, 2012 are budget phones which can be bought for a price as low as Rs. 2,500. These are launched in the market especially for the students. The mobiles offer dual SIM option and a two models of seven inch tablets are also will be launched.
The tablet from Bluemax Impex will be priced Rs. 5,500 and will feature external USB dongle. Another tablet comes with a 2G SIM insert and will come with a price tag of Rs. 7,999. Another 3G SIM tablet and Android smart phones will be launched by January, 2013 and will be available in the price range of Rs. 3,500 to 5,000.
Source : http://www.aegindia.org/2012/11/bluemax-launches-budget-phones-blu-tablet-rs-5500/216507.html
November 20th, 2012, 10:36 PM
Puzzolana eyes big orders as govt offers sops on contracts (http://www.mydigitalfc.com/news/puzzolana-eyes-big-orders-govt-offers-sops-contracts-299)
Source: Financial Chronicle (http://www.mydigitalfc.com/news/puzzolana-eyes-big-orders-govt-offers-sops-contracts-299)
The Indian construction equipment manufacturer, which has seen a muted growth in the recent times, is expecting better orders with the government favouring annuity-based road contr*acts, according to Abhijeet Pai, managing director of construction equipment maker Puzzolana Group.
Road contractors were not able to achieve financial closure for various reasons. As a result, orders for construction equipment have slowed down. However, a recent proposal of the government to award more annuity, operation and maintenance contracts would revive the orders for the equipment makers.
Construction equipment makers were witnessing low, due to land acquisition problems, he said.
Puzzolana sold around 240 stone crushers a year and had about 45 per cent market share in the Indian construction equipment industry, with an annual turnover of over Rs 500 crore. The company would focus on overseas markets to offset slower growth in the country, he said.
The company planned to double its capacity in three years but shortage of power was hitting them, he said.:bash::bash:
November 20th, 2012, 10:39 PM
Bartronics is planning to set up a smart card manufacturing facility here
Source: The Hindu Business Line (http://www.thehindubusinessline.com/news/states/netherlands-firm-to-expand-india-operations/article4116179.ece)
Representatives of Bartronics, an electronic identity (smartcard, RFID) solutions and services company, too have met the Minister. They told the Minister that they would set up a smart card manufacturing facility in Hyderabad.
November 23rd, 2012, 12:19 AM
Arthayantra looking to raise $10 million (http://www.livemint.com/Companies/nycyp9uFjhQkqMmm9g9qIL/Arthayantra-looking-to-raise-10-million.html)
Hyderabad: Arthayantra Corporation Pvt. Ltd, a personal financial services company, plans to raise $10 million over the next six months to expand operations across major metropolitan cities.
Arthayantra, based in Hyderabad and founded by a group of alumni from the Indian School of Business (ISB), is in talks with multiple investment firms overseas for growth capital, Nitin B. Vyakaranam, founder and chief executive officer, said.
“Right now we are not looking (for funding) in India. We are talking to multiple players in Europe and United States,” Vyakaranam said at the launch of a personal finance platform on Thursday. The company raised an undisclosed sum from New York-based investment firm WFA Global Investments on 6 November.
A portion of the money it raises will go toward expanding its operations to Bangalore, Delhi, Chennai, Mumbai and Pune over the next 12 months, and for marketing efforts in these cities, Vyakaranam said.
November 23rd, 2012, 12:22 AM
Catamaran Waterbase to raise Rs 6.5 cr early-stage funding (http://www.business-standard.com/india/news/catamaran-waterbase-to-raise-rs-65-cr-early-stage-funding/493351/)
Catamaran Waterbase Solutions Private Limited, a Hyderabad-based start-up, is looking at raising Rs 6.5 crore early-stage funding in the next two months.
“We are in the final stage of raising the fund. We have approached a couple of angel investors and venture capitals including Hyderabad Angels and Indian Angels. It should happen over the next one-two months,” Y Ravi , chief executive officer, Catamaran Waterbase, said.
The start-up, which is into fish procurement and delivery to major hotels, saw almost three-fold growth in turnover to Rs 1.41 crore from Rs 42 lakh in 2009, when it was set up.
The domestic fish industry is roughly about $24 billion and set to reach $86 billion over the next 10 years, according to estimates. Of this, only 2 per cent is organised. The per capita fish consumption is also comparatively low at 5.9 kg per annum compared with international standards of 16.6 kg per annum. Even the National Fishery Development Board is working towards increasing India’s per capita fish consumption to international standard, he said.
Betting big on this untapped segment, the company is planning to start two divisions – fish retail stores and exclusive fish-food takeaway outlets -- over the next three-five years.
It would set up 360 retail outlets —Good Fish — in the next five years across 22 cities. Each outlet will be spread across 450-500 sft and come up with an investment of around Rs 12 lakh. It also plans to have 227 exclusive fish takeaways -- Pescetarians -- across major metros in three years.
Catamaran Waterbase was one of the 15 finalists at the ISB-TiE Connect 2012, which began here on Thursday.
The three-day event is being organised in partnership with the Indian School of Business (ISB) and The Indus Entrepreneurs (TiE) Hyderabad chapter.
It is a platform for investors and entrepreneurs from across the country to network and learn all about valuation, funding etc. It was inaugurated by Andhra Pradesh chief minister Kiran Kumar Reddy .
November 23rd, 2012, 12:27 AM
Hetero Labs enters UAE pharma market through new venture (http://www.thehindubusinessline.com/companies/hetero-labs-enters-uae-pharma-market-through-new-venture/article4123203.ece)
HYDERABAD, NOV 22:
Hetero Labs has entered the Gulf market with an offering of a range of generic medicines. It has also unveiled its new venture Nexgen Pharma to push its products in the region.
The Hyderabad-based producer of anti-retrovirals will through Nexgen Pharma launch in the first phase generic brands in various therapeutic segments such as gastroenterology, cardiovascular and neurology.
According to the arrangement, Nexgen procures the products from Hetero Labs in India that have regulatory approvals. It will also source from the NMC Group of UAE. “This will be a unique venture and one of its kind in the UAE pharma market,” the company said in a press release.
On the reason for venturing into the UAE pharma market, B. Parthasaradhi Reddy, Chairman of the Hetero Group said, “We would like to leverage our combined strengths of R&D, manufacturing and marketing to a definite cost advantage and deliver highest level of quality medicines.”
Nexgen Pharma also takes the services of local player Neopharma. Neopharma is an Abu Dhabi-based pharmaceutical house that adds further value to the quality manufacturing. It is here that the secondary packing of Nexgen Pharma happens.
November 24th, 2012, 12:04 PM
Arvind Vasudeva is new CEO of Aurobindo Pharma (http://www.thehindubusinessline.com/companies/arvind-vasudeva-is-new-ceo-of-aurobindo-pharma/article4127243.ece)
HYDERABAD, NOV. 23:
Aurobindo Pharma Ltd has appointed Arvind Vasudeva as Chief Executive Officer for its formulations division.
The Hyderabad-based pharma major in an announcement to the stock exchanges said his appointment will be effective from November 22.
Arvind Vasudeva served as Chief Operating Officer at Glenmark Pharmaceuticals prior to joining Aurobindo Pharma. He was instrumental in the growth of the company there. He also worked as the Managing Director of RPG Life Sciences Ltd. In addition, he also was President-Indian operations as well as Japan and ROW markets in Wockhardt.
Arvind, an M. Pharm (Pharmaceutical Technology) from Punjab University, Chandigarh, has three decades of experience in the formulations sales and marketing. “His expertise, professional capabilities and leadership will help the company strengthen its position in the pharma space further,” said K. Nithyananda Reddy, Vice-Chairman, Aurobindo Pharma, in a statement.
Incidentally, on November 9, the company had accepted the resignation of Ravindra Y. Shenoy, Joint Managing Director, who resigned due to personal reasons. N. Govindrajan is the Managing Director at present.
Meanwhile, the company’s scrip lost Rs 2.25 or 1.26 per cent on the bourses to close at Rs 176.40.
November 27th, 2012, 12:12 AM
Hyderabad's Hetero Group enters UAE with new venture (http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/pharmaceuticals/hyderabads-hetero-group-enters-uae-with-new-venture/articleshow/17370409.cms)
DUBAI: Abu Dhabi-based Neo pharma has set up a joint venture with Hyderabad-based Hetero Group -Nexgen Pharma -to manufacture medicines in the UAE, the company said in a statement.
The first phase of the collaboration will be distribution of Hetero's medicines in the UAE, Chairman of Hetero Group B P S Reddy said.
The group markets its products in 138 nations. Reddy said in the first phase starting in January, Nexgen Pharma will distribute 21 products, more than doubling this to 50 products upon the completion of the registration process in the next two years.
"By 2016, Nexgen Pharma will be distributing 100 products," Reddy said.
Both pharmaceutical firms announced a joint venture agreement to form a distribution firm in the first phase of their partnership. The new entity will distribute Hyderabad-based Hetero's pharmaceuticals in the UAE.
The drugs to be distributed next year will include branded generics in various therapeutic segments such as gastroenterology, cardiovascular, neurology, antivirals, antiretrovirals and antihistamines.
November 27th, 2012, 12:21 AM
Indian, Chinese firms forge partnerships worth $5.3b (http://www.mydigitalfc.com/news/indian-chinese-firms-forge-partnerships-worth-53b-696)
Nice to see the companies foraying into other countries, especially China. It's positive to see Lanco doing this.
Indian and Chinese companies have come a step closer by forging fresh partnerships. Companies like Anil Dhirubhai Ambani group’s (Adag) Reliance Energy, Hyderabad-based Lanco and NIIT, apart from others, have signed deals worth $5.3 billion on Monday across sectors like energy, information technology, steel and railways.
Reliance Energy has enlisted China’s Guangdong Mingyang Wind Power as a joint venture partner to set up 2,500 mw renewable energy project with an investment of $3 billion. China Development Bank (CDB) will finance the new renewable energy project.
Reliance Energy’s largest foray into new energy projects has come at a time when large power players are facing problem of coal linkages, tariff-related issues and acquisition of land for conventional power projects, apart from environment and forest clearances. Reliance Energy is also facing serious issues with development of many ultra-mega power projects that it has signed up.
Along with Tata group chairman Ratan Tata, Adag chairman Anil Ambani have been pushing with the prime minister’s office (PMO) seeking concessions on coal pricing, land acquisition and environment clearances expeditiously.
The foray into wind power would enable Reliance Energy to diversify into sustainable and green energy sector in a big way.
Similarly, Lanco, headed by Lagadapati Rajagopal, has signed an agreement with China Development Bank (CDB) for $600 million for phase-two of the Anpara power project.
Both, Reliance Energy and Lanco group are sourcing their electrical equipment like generators and boilers from Chinese suppliers.
On Monday, NIIT too entered into $800 million deal with Hainan province to set up an IT knowledge park there.
Indian companies announced the mega deals with their Chinese counterparts and bankers during the visit of China’s plan panel, National Development and Reforms Commission (NDRC) chief Zhang Ping. Ping began his economic dialogue with his Indian counterpart Montek Singh Ahluwalia on Monday.
Both India and China also agreed to develop high-speed trains, station development and heavy haulage as part of the second bilateral strategic economic dialogue.
Besides, the two countries on Monday also signed seven agreements valued at $5.3 billion across energy, IT, electronics and steel and four memorandums of understanding (MoUs) to help increase bilateral trade to $100 billion from $74 billion in two years.
Indian railways have already approved six high-speed rail corridors in sectors like Delhi-Chandigarh-Amritsar (450 km), Pune-Mumbai-Ahmedabad (650 km), Hyderabad-Dornakal-Vijaywada-Chennai (664 km), Chennai-Bangalore-Coimbatore-Ernakulam (649 km), Howrah-Haldia (135 km), and Delhi-Agra-Lucknow-Varanasi-Patna (991 km).
Under the 12th Plan, Indian Railways plans to get major upgradation with help of heavy-haul freight trains of 15,000 tonnes capacity and 1500 metres length. Though China is a relatively new entrant in the bullet trains space, it is more competitive than either Japan or France.
“Indian railways have entered into an MoU with their Chinese counterpart on enhancing technical cooperation in the railway sector. These include high-speed trains, modernisation of railway stations and technology related to heavy haulage,” Montek Singh Ahluwalia, deputy chairman of the planning commission said.
The planning commission has entered into an agreement with the Chinese plan body, NDRC, to undertake joint studies in economic policy research and development planning. Besides, there were MoUs singed to encourage cooperation between India’s bureau of energy efficiency and NDRC.
November 27th, 2012, 12:23 AM
Lanco Infra to raise $2 bn from China Development Bank (http://www.livemint.com/Companies/TkqKfa16u8tW78ZsRze0jL/Lanco-Infra-to-raise-2-bn-from-China-Development-Bank.html)
Hyderabad: Lanco Infratech Ltd on Monday said it will borrow $2 billion (around Rs.11,140 today) from China Development Bank (CDB), owned by the Chinese government, for developing two 1,320 megawatts (MW) power projects in Uttar Pradesh.
Lanco has signed a memorandum of understanding (MoU) with CDB for this.
Of the total $2 billion debt, CDB will contribute $600 million and syndicate the balance from Chinese banks and financial institutions, Lanco said.
“For the past couple of quarters, we have been working on strategies to address the liquidity concerns due to delay in receivables from utilities,” L. Madhusudhan Rao, chairman of Lanco group, said in a statement.
“Apart from this, we are also working closely with utilities so that receivables can come through, which is likely in the coming days. We are also in the process of addressing the debt-equity ratio at the same time,” he added.
CDB has already sanctioned $200 million in buyers’ credit for the Amarkantak 3 and 4, Babandh and Vidarbha power projects being developed by Lanco Group. The latest debt-raising is for Lanco’s Anpara Phase II and Himawat projects.
CDB is the largest Chinese development bank and a leading international lender, with total assets exceeding $1.1 trillion as of September. CDB has sanctioned over $7 billion to Indian corporations and has an outstanding amount of over $4.3 billion.
Lanco has an operating capacity of 4,740MW with another 4,636MW of coal, gas, hydro, solar and wind power projects under various stages of execution. The company aims to have an operating capacity of 13,000MW by 2015. It has an engineering, procurement and construction order book of Rs.28,500 crore.
Shares of Lanco rose 4.18% to end at Rs.12.70 on BSE on Monday, while the benchmark Sensex closed 0.16% higher at 18,537.01 points.
November 30th, 2012, 01:07 PM
KNR Constructions bags Rs 790-cr order (http://www.thehindubusinessline.com/companies/knr-constructions-bags-rs-790cr-order/article4150542.ece)
HYDERABAD, NOV 30:
KNR Constructions Ltd, a Hyderabad-based infrastructure company, has bagged a Rs 790.50-crore EPC order for a road project coming up in Kerala.
KNR Walayar Tollways Pvt Ltd entails four-laning of Walayar-Vadakkancherry section in Kerala between 182-250 km of National Highway 47.
It is being executed under built, operate and transfer mode under the National Highway Development Programme (NHDP)-II. The project has to be completed in 910 days from the appointed date.
December 3rd, 2012, 08:44 PM
Hyderabad-based Learnpedia Edutech launches study software for engineering aspirants (http://timesofindia.indiatimes.com/tech/careers/education/Hyderabad-based-Learnpedia-Edutech-launches-study-software-for-engineering-aspirants/articleshow/17462015.cms)
THIRUVANANTHPURAM: Hyderabad-based educational services company Learnpedia Edutech launched a study software, JEE Study Mate, in Kerala for students preparing for entrance examinations of premier engineering colleges in the country.
"Engineering aspirants encounter problems like missed lectures, incomplete conceptual clarity, untimely doubts and uneven pace of learning. The supplement has been designed keeping in mind these problems faced by the students," said Biswaroop Padhi, vice-president of Learnpedia.
JEE Study Mate covers all the topics in the syllabus of Joint Entrance Examination for Indian Institutes of Technology and National Institutes of Technology. It comes with videos, animations and relevant text preloaded module-wise on to the Learnpedia's proprietary learning software.
The study material is available in two variants - DVDs and tablets.
December 5th, 2012, 07:15 PM
Hyderabad firm develops anti-collision device for Rlys (http://www.thehindubusinessline.com/industry-and-economy/logistics/hyderabad-firm-develops-anticollision-device-for-rlys/article4167837.ece)
During trials, the system was seen to be effective in preventing head-on and other collisions, over-speeding and disregard for the red signal.
HYDERABAD, DEC. 5:
The Indian Railways can look forward to fewer accidents and passengers can feel more secure, thanks to a new safety device developed by Hyderabad Batteries Limited (HBL).
A train collision avoidance system (TCAS), tested in real time, on a track near Tandur, in the South Central Railway, during September demonstrated the viability of the system.
Two trains equipped with the system ran a series of trials.
The device is based on a combination of railway signalling data with radio communications, global position, radio frequency identification devices, software and logic.
HBL Power Systems was the first company to respond to the expression of interest floated by the Research, Design and Standards Organisation of the Indian Railways to develop an anti-collision device in August 2008.
The system is designed to automatically bring trains to a halt when collision-like situations arise or when the red signal is violated, for whatever reason, a release from the Hyderabad-based company said here today.
The Chairman, Railway Board, Vinay Mittal, along with Kulbhushan, Director-General of RDSO, and other Railway officials witnessed the trials in October.
He commented “It’s a path-breaking technology and we would like to complete all the trials within a year”, the release added.
During the trials, the effectiveness was demonstrated for prevention of head-on collisions, rear-end collisions, over-speeding of trains and disregard for red signal.
It has essential features of both automatic train protection and collision prevention in one solution.
HBL Power Systems, apart from this rail safety device, has developed electronic interlocking system, audio frequency track circuits and train management systems.
December 7th, 2012, 10:28 PM
Dr. Reddy's appoints new North American head (http://www.indusbusinessjournal.com/ME2/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=62CEC54CEFF0444F88148D1B425095C9)
Dr. Reddy’s Laboratories Ltd. has appointed Umang Vohra as executive vice president and head of North American generics business. Vohra will begin his new role in January 2013. He has been serving as chief financial of the Hyderabad-based company for the past fours years. Dr. Reddy’s has also said that Saumen Chakraborty will become CFO in January to replace Vohra.
Chakraborty is currently the president and global head of quality, human resource and IT and business process excellence at Dr. Reddy’s. He was also the CFO of Dr. Reddy’s between 2006 and 2008.
Dr. Reddy’s Laboratories, which is traded on the New York Stock Exchange, is a global pharmaceutical company. Through its three businesses – pharmaceutical services and active ingredients, global generics and proprietary products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. The company’s therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, the United States, Russia, Germany, The United Kingdom, Venezuela, South Africa, Africa, Romania and New Zealand.
December 9th, 2012, 01:30 AM
Biomax sets up venture with Jeddah firm for bio-fuel unit (http://www.thehindubusinessline.com/companies/biomax-sets-up-venture-with-jeddah-firm-for-biofuel-unit/article4178798.ece?homepage=true&ref=wl_home)
HYDERABAD, DEC. 8:
Bio-fuel maker Biomax Fuels has set up a 50:50 joint venture with the Jeddah-based Middle East Environment Protection Co to set up the first bio-fuel plant in Saudi Arabia.
The $40-million plant, which is expected to be commissioned by 2013-end, will use used cooking oil as feedstock, one of the few plants in the world to use this non-food waste feedstock.
Hyderabad-based Biomax operates a similar plant in Visakhapatnam, which produces 25,000 tonnes of bio-diesel a month for export to Europe. Besides this, it runs a R&D unit in Chennai, which is working on unitisation of different waste oil, including algae oil, for fuel production.
MEEP is a diversified company headquartered in Jeddah having interest in waste management, real estate and healthcare.
M. Ravinder, Chairman of Biomax, said the Saudi Arabian firm will collect and supply the required used cooking oil, while Biomax would set up and operate the plant. “At present, we use feedstock supplied by the Saudi Arabian firm for our Vizag unit. We took this partnership forward to form the joint venture,” he said.
MEEP supplies about 3,000 tonnes of used cooking oil a month to the Vizag unit. While the raw material cost works out to between $ 800-900 a tonne, the unit sells its bio-diesel at about $1100 a tonne.
Europe and the US are the biggest consumers of bio-diesel, as it is mandatory there to blend regular fossil fuel with bio-fuel at a stipulated percentage.
Bader Bin Abdullah Bin Saud, Chairman of MEEP, said the company has a strong collection infrastructure in Saudi Arabia. “Depending on the requirement, we can supply up to a maximum of 2.5 million tonnes per annum. After the first unit, we will be looking at setting up similar units across West Asia and North Africa region,” he said.
Ravinder said the technology being used in the plant was developed in-house by Biomax, which has the flexibility to use alternative feedstock such as crude palm oil, sunflower oil and even acid oil.
December 12th, 2012, 10:15 PM
Hyderabad-based Nchant 3d to use technology to sell movies (http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Hyderabad-based-Nchant-3d-to-use-technology-to-sell-movies/articleshow/17584932.cms)
AHMEDABAD: Nchant 3d, a Hyderabad-based company, whose technology was used in the election campaign by Gujarat Chief Minister Narendra Modi for the 3D holographic live shows, today said it would use the technology to sell movies as well as educational and spiritual discourses.
Making its debut with Gujarat assembly elections in India, the company claims to have set a record of hosting the highest number of simultaneous events using the technology, "ever done anywhere in the world before".
In the last leg of campaigning, Gujarat chief minister addresed rallies at 53 places simultaneously through 3D holographic projection technology yesterday, a top company official said.
"With focus on R&D, we invented products that can change the face of media, communication and entertainment in the country," Mani Shankar, Director of the six-month-old start-up company.
"Mobile holographic theatres in Europe are popular, but are usually at one fixed location. We created mobile holographic theatres which are traversing through villages of Gujarat," he added.
Holography is a technique which enables it to create three-dimensional images. The holographic live shows largely popular in Europe have been used by Hollywood celebrities like Madonna and Mariah Carey.
3D Holographic live shows are aired with the assistance of satellite and making use of 3G services.
"We would use this technology now for selling movies, in the spiritual field, for which we have a lot of queries and field of education. Each of this business vertical has the potential of Rs 1,000 crore annually," he said.
"Another product of ours is an eight-feet dismantlable holographic cube, which enables CEOs of companies to address multiple offices from one location," he added.
Replying to a query on glitches in the first show, Shankar said, "There were some initial hiccups and technical glitches as audio went off in the first show...but that has been sorted out and it never happened again."
The company has licenses for nine countries, including India. "We have technology licenses for SAARC countries, India, Mauritius and Seychelles," Shankar said.
December 14th, 2012, 10:49 AM
Systems America Inc looking for acquisitions: Barctonics (http://business-standard.com/india/news/systems-america-inc-looking-for-acquisitions-barctonics/199568/on)
Barctonics had recently acquired 51% stake in US based SYAI, a provided of diversified cloud computing & information technology solutions
Bartronics Asia Pte Limited, a wholly-owned subsidiary of Hyderabad-based Bartronics India Limited, today said that Systems America Inc (SYAI) is going to acquire two companies in 2013.
Bartronics Asia had recently acquired 51% stake in the US-based SYAI, a provider of diversified cloud computing and information technology solutions to commercial and government clients globally.
In a filing to the Bombay Stock Exchange, Bartronics said, "As part of its growth strategy, SYAI has already lined up a series of acquisitions. It is currently in negotiations with two companies."
The two companies - one into business intelligence and application services space with revenues in excess of $24 million and adjusted earnings of $3.7 million and the other one is in mobile application and social analytics space with revenues in excess of $25 million and earnings in excess of $4.1 million, it added.
"The company targets to close these transactions by 2013 fiscal year with a top line in excess of $100 million (Rs 542.8 crore)," it said.
With the controlling stake in SYAI, Bartronics expects to expand its operations to Canada and Europe. "Also, this acquisition will unfold new chapter in our US business," said Sudhir Rao, managing director, Bartronics India Limited, which is into AIDC (automatic identification and data capture) technology space.
Bartronics will also get a strong foothold in a fast growing cloud computing and mobility services such as providing services around Salesforce.com, SAP, Workday and other cloud application service market in various industries, it said.
December 16th, 2012, 05:07 AM
The central government has agreed to include Andhra Pradesh in the Chennai-Bangalore industrial corridor, said major industries minister J Geeta Reddy. She told reporters here on Saturday that the proposed corridor in the first phase would be extended upto Krishnapatnam port in Nellore district. The second phase of the project will also cover the Hindupur-Chittoor belt.
The Japan International Cooperation Agency is funding the Peninsular Regional Industrial Development (Pride) corridor along the Chennai-Bangalore highway.
During the Southern Zonal council meeting in Bangalore last month, chief minister N Kiran Kumar Reddy requested the central government to extend the project to Andhra Pradesh, saying only Chennai-Andhra-Bangalore corridor could unleash economic potential of the region and ensure world class infrastructure, economic development and employment generation. Geeta Reddy said that International Pharma Trade Centre and Research and Innovation Council of Hyderabad (Rich) were also proposed to be set up in Hyderabad. The foundation stone for both the projects are likely to be laid in March next year. She said Andhra Pradesh has also sent proposals to the central government for setting up three National Manufacturing and Investment Zones (NMIZ) in the state.
The zones are proposed at Zaheerabad (Medak district), Chittoor and around the proposed Ramayapatnam port in Prakasam district in an area of 5,000 hectares each.
Geeta Reddy said manufacturing would be the focus of the state, during the 12th Five Year Plan. She claimed that despite slowdown and other problems, Andhra Pradesh recorded higher industrial growth rate than the national average during 11th Plan. The industrial growth rate in the state during 2011-12 was 7.33% against the national growth rate of 3.95. IANS :banana::banana::banana::banana::banana::banana::banana::banana::banana::banana::banana::banana::banana::banana:
December 24th, 2012, 11:10 AM
SKS Microfinance completes Rs 54 cr securitisation (http://business-standard.com/india/news/sks-microfinance-completes-rs-54-cr-securitisation/200447/on)
It is company's third such transaction in the current fiscal,
Hyderabad-headquartered SKS Microfinance Limited today announced that it has completed a securitisation transaction of Rs 54.63 crore with a private sector bank.
It is the company's third such transaction in the current fiscal, it said in a BSE filing today.
The pool of receivables securitized are rated A1+ (SO) by one of the leading credit rating agencies, which is considered to have a strong capacity for timely payment of short-term debt obligations and carry the lowest credit risk.
SKS Microfinance was assigned a grading of "MFI 1" (MFI ONE) by one of the leading credit rating agencies. The grading is assigned on an eight point scale with "MF1 1" being the highest and "MF1 5" being the lowest.
The company's scrip is currently trading at Rs 150.20 on the Bombay Stock Exchange, down 1.15% over the previous close of Rs 151.75.
December 26th, 2012, 11:30 AM
Govt approves 12 FDI proposals worth over Rs 802 cr (http://timesofindia.indiatimes.com/business/india-business/Govt-approves-12-FDI-proposals-worth-over-Rs-802-cr/articleshow/17767683.cms)
NEW DELHI: The government on Wednesday approved 12 foreign direct investment (FDI) proposals, including that of Ratnakar Bank, totalling over Rs 802 crore.
The Foreign Investment Promotion Board (FIPB) headed by economic affairs secretary Arvind Mayaram, however, rejected Mahindra and Mahindra's proposal to form a defence joint venture with Israel's Rafael Advanced Defence System.
"Based on the recommendations of FIPB in its meeting held on November 20, government has approved 12 proposals of foreign direct investment amounting to Rs 802.07 crore approximately," the finance ministry said in a statement.
In addition, the proposal of Swedish furniture major IKEA has been recommended for consideration of Cabinet Committee on Economic Affairs, it said. Even after FIPB clearance, FDI proposals of over Rs 1,200 crore have to be approved by the CCEA.
Ingka Holding Overseas has been given permission to set up a wholly owned subsidiary to undertake single brand retailing of IKEA products.
As per the statement, Ratnakar Bank's proposal to increase foreign equity in the bank from 43 per cent to 55 per cent has been approved. The move is likely to bring in Rs 300 crore worth of FDI.
Taqa Jyoti Energy Ventures has also got the government's approval to bring in foreign investment of Rs 252 crore.
Other major approved proposals include that of Hyderabad based Mylan Laboratories to acquire an existing pharmaceutical manufacturing facility and of OCS Group Singapore Pte Ltd for acquisition of equity shares of an India company engaged in business of detective and protective services.
Mahindra and Mahindra Limited had sought FIPB's nod to to set up a new joint venture with Rafael Advanced Defence System for production and development of naval defence system and other products.
The ministry said along with M&M, FDI proposals of Coimbatore-based Ampo Valves India and Mumbai-based Berggruen Real Estates too have been rejected.
Meanwhile, MCX's application for post facto approval for FDI received before issuance of DIPP's Press Note 2 of 2008 on guidelines for foreign investment in commodity exchanges was withdrawn from the FIPB's agenda, the ministry added.
Also, decision on nine FDI proposals was deferred in the November 20 meeting of the FIPB.
January 8th, 2013, 08:32 PM
Ramky Enviro readies for Rs 1,000-cr public issue (http://www.thehindubusinessline.com/markets/stock-markets/ramky-enviro-readies-for-rs-1000cr-public-issue/article4287532.ece?homepage=true&ref=wl_home)
HYDERABAD, JAN. 8:
Ramky Enviro Engineers Ltd is readying itself to enter capital market with an initial public offer to raise up to Rs 1,000 crore to part fund its expansion
The bankers for the proposed offer include Kotak Mahindra Bank, JPMorgan Chase, SBI Capital Markets and Edelweiss Capital, according to company sources.
Part of the diversified Ramky Group and listed entity Ramky Infrastructure Ltd, the company is engaged in waste and environmental management solutions, including using urban waste to generate power.
The Hyderabad-based company, which is backed by investments made by Standarad Chartered equity arm and IL&FS Fund, will launch its application next month and expects to enter market when the market conditions are ideal.
Ramky Enviro and Chinese company Chongquin Sanfeng have recently formed a venture to set up a series of waste to energy projects. Sanfeng has the technology and EPC capability for such waste to energy projects.
Ramky has arrangements to develop projects in Delhi, Mumbai, Hyderabad and few other locations.
January 8th, 2013, 08:33 PM
GVK Power may back out of road project due to hurdles, delays (http://www.thehindubusinessline.com/industry-and-economy/logistics/gvk-power-may-back-out-of-road-project-due-to-hurdles-delays/article4287325.ece)
The apex court ruling last year had made it clear that the environmental clearances were required for projects such as these, where there are excavation work and boulder removal.
HYDERABAD, JAN. 8:
GVK Power & Infrastructure Ltd, which had secured a mandate to execute the Shivpuri-Dewas highway project in Madhya Pradesh, may also step aside from executing the project due to delays in execution beyond its control. The Hyderabad-based diversified business group, which bagged the mandate to execute the 330-km project from the National Highways Authority of India, under the National Highway Development Project, has expressed its concern in the past about the difficulties it is facing in executing the project due to delays.
The apex court ruling last year had made it clear that environmental clearances were required for projects such as these where there is excavation work and boulder removal etc.
The concessionaire (GVK) and NHAI have been communicating about the issue with divergent stands on the issue. GVK has maintained it attracts force majeure clause, sources tracking the developments said.
The Rs 3,200-crore GVK Shivpuri Dewas Expressways concession pact was signed in January 2012 which entails a four-lane NH No. 3 between 236 km and 566 km.
The company had also awarded couple of contracts including one to KNR Construction Ltd, also based in Hyderabad and to L&T Construction.
January 9th, 2013, 07:30 PM
GVK Biosciences and Onconova Therapeutics Establish Novel Joint Development Partnership to Advance New Drugs for Cancer (http://www.heraldonline.com/2013/01/09/4530323/gvk-biosciences-and-onconova-therapeutics.html)
HYDERABAD, INDIA & NEWTOWN, PA. — GVK BIO, Asia’s leading Contract Research and Development organization, and Onconova Therapeutics, a U.S. based biopharmaceutical company primarily focused on discovery and development of novel small molecules for Oncology, today announced that they have entered into a novel joint partnership to develop new drugs for Cancer.
The joint partnership will be based in the U.S. and will align research priorities and technological expertise from both companies to facilitate moving certain Onconova oncology assets from early discovery to clinical development stage. Dr. E. Premkumar Reddy, the scientific founder and Director of Onconova and a world-renowned molecular oncologist, will oversee the biology and biomarker aspects of the Partnership. Onconova will provide two discovery targets with early chemical equity, while GVK BIO will use its multi-disciplinary discovery platform to advance these programs through lead optimization and IND candidate selection.
GVK BIO will gain an increasing share of the programs as they advance, up to a 50/50 split based on achievement of milestones/funding brought into the joint partnership. Onconova retains the rights to buy back the programs.
Onconova brings a wealth of knowledge in Oncology, with an expertise of disease target pathways, hits, and development capabilities in the U.S., Europe and India. GVK BIO brings its broad experience of working with over 200 pharmaceutical and biotech companies across multiple service offerings, a strong scientific pool of over 2000 scientists, and an IP generating capability that has delivered INDs to other clients.
“The demands for integrated and outcome-based research deals are increasing in the service business. This announcement shows GVK BIO’s commitment to new and innovative models for Drug Discovery with partners. Onconova is a leading Oncology company and GVK BIO is happy to partner with them,” said Manni Kantipudi, CEO of GVK BIO.
“GVK has a world-class infrastructure and the scientific expertise to support the advancement of these two promising, early-stage programs,” commented Dr. E. Premkumar Reddy, scientific founder of Onconova. “We are delighted to start this novel relationship with GVK BIO in our search for efficacious targeted therapies for cancer.”
January 9th, 2013, 07:31 PM
Kenes Exhibitions joins hands with Excellence Hospitality for expositions (http://www.thehindubusinessline.com/news/states/kenes-exhibitions-joins-hands-with-excellence-hospitality-for-expositions/article4290380.ece)
HYDERABAD, JAN. 9:
Kenes Exhibitions Ltd of Israel has joined hands with Excellence Hospitality of Hyderabad with the objective of jointly conducting exhibitions and conferences in Hyderabad for business-to-business customers.
According to them, while the hospitality business has been impacted lately, there has been a steady increase in demand for top-class trade events, especially in the business-to-business format. Together, Kenes plans to offer facilitation services to host such events.
Prema Zilberman, General Manager, Kenes Exhibitions, in a statement said, “India has huge potential and the industry is always seeking ways to explore new avenues. Kenes has a lot to offer in the form of contacts, content and international platforms. We act as a meeting point for international players in the industries.”
It is proposed to form a special purpose vehicle for promoting trade exhibitions. The first trade show through the venture in the hospitality sector will be hosted in 2014. The venture will seek to play a role in hosting shows in hospitality, business-to-business meetings, tourism, travel, hotels and cuisine, electricity and plumbing segments.
January 24th, 2013, 06:42 PM
GEF to invest $8.4M in Hyderabad's Integrated Cleanroom Technologies
GEF, which has approximately $1 billion in aggregate capital under management, has invested over $100 million across eight deals in India.
South Asia Clean Energy Fund (SACEF), an SME fund managed by clean technology investor Global Environment Fund (GEF), is investing Rs 45 crore or $8.4 million in Integrated Cleanroom Technologies Ltd (IClean). The Hyderabad-based firm, founded by first-generation entrepreneurs back in 2002, will use the funding to expand its manufacturing facilities and reach the target revenues of Rs 500 crore by FY17.
SACEF is acquiring a minority stake in IClean, which manufactures prefabricated modular cleanroom and cleanroom equipment (cleanroom technology refers to providing contamination-free and temperature-controlled room facilities in different industrial environments). In addition, the company is aggressively expanding into cleanroom projects execution on a turnkey basis. IClean's promoters are led by managing director K Gopi besides U Srinivasa Murthy, TV Prasad and D Narendra.
IClean was started after its founders saw an opportunity in the cleanroom equipment segment, where all products used to be imported and companies incurred high costs. The firm set up a domestic manufacturing facility and indigenised the products. It earned revenues of Rs 5 crore in its first year of operation which went up to Rs 125 crore in FY12. IClean also bagged two mega projects during the third quarter, each worth Rs 30 crore.
While manufacturing accounts for 75 per cent of its current revenues, the rest comes from execution of turnkey projects. Going forward, IClean sees this mix heading towards 50:50.
IClean clients are primarily pharmaceutical and biotechnology laboratories, but the company has started servicing clients in healthcare services, food & beverage processing and electronics space.
Its overseas revenue currently accounts for 20 per cent of the total revenue although the company has recently bagged a contract worth Rs 35 crore in the US. Some of its key clients include Dr. Reddy's, Cipla, GlaxoSmithKline, Glenmark, Pfizer and Biocon.
With the capital infusion from GEF, IClean plans to expand its two existing plants in Hyderabad with additional machinery and finance a new facility in Vadodara, Gujarat. The company has also expanded its manufacturing space from 1.5 lakh sq. ft. to 4.5 lakh sq. ft. and sees no major capex ahead. Its product range includes cleanrooms, cleanroom accessories, heating, ventilation & air conditioning (HVAC), air handling unit and lab furniture.
K Gopi, managing director of IClean, said in a statement that the firm is also entering other engineering products, as well as greenfield projects, which have significant market potential and market size of Rs 5,000 crore.
"Cleanroom solutions, while providing for contamination-free environments, also result in energy efficiency gains through better design and insulation. IClean is one of the leading solution providers in the country with a very strong team and execution record," said Raj Pai, managing director at GEF Advisors India Pvt Ltd.
GEF, which has approximately $1 billion in aggregate capital under management, has invested over $100 million across eight deals in India. Its current portfolio include energy efficiency firm Kalki Communication Technologies, clean energy firm Greenko Group Plc and Saisudhir Infrastructures, an EPC player focused on sectors like water supply and solid waste management.
January 24th, 2013, 08:55 PM
Infotech eyes bigger overseas buyout targets (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/engineering/infotech-eyes-bigger-overseas-buyout-targets/articleshow/18162177.cms)
HYDERABAD: Mid-sized engineering services firm Infotech Enterprises has altered its overseas acquisitions strategy and nearly doubled the investment outlay for a foreign buy. As against its earlier strategy of buying foreign firms for around Rs 50-60 crore, the Indian outsourcer is now looking at spending Rs 100 crore or more for each foreign target, said the top official of the company.
The Hyderabad-based firm, which counts global aerospace giants Airbus, Boeing and Pratt & Whitney among its key clients, would spend at least Rs 100 crore on global acquisition this time, said chairman and managing director BVR Mohan Reddy. In 2010, Infotech bought two USbased defence and telecom engineering services firms — Daxcon Engineering and Wellsco — each for around Rs 50 crore.
Reddy said the company, which had a revenue of Rs 1,550 crore last fiscal, has cash reserves of over Rs 500 crore with no debt on books to help go aggressive on inorganic growth. A person close to the development said the company has already shortlisted half-a-dozen companies in the European market and a deal with one of them will be sealed during this quarter. However, Reddy declined to comment on this.
"Since the efforts, risks and time for integration of buyout firms would be the same for a small or big acquisition, we have decided to go in for relatively big acquisitions," Reddy told ET.
Further, he said the company is looking at acquiring a foreign firm engaged in electronics and embedded software to help strengthen Infotech's presence in the area. Of the two US acquisitions made in 2010, Daxcon Engineering provides engineering and manufacturing consultancy services to the aerospace, defence and mining sectors while Wellsco is a telecom engineering services provider.
"While companies like HCL TechnologiesBSE -1.52 % with which we compete are earning more than $600-700 million from the electronics division, we earn only around $30 million from this category. This is the main reason why Infotech wants to increase its focus on electronics and embedded software," explains Reddy.
At present, Infotech Enterprises, with over 10,000 employees across 36 global locations, offers services to the aerospace, automotive, marine and transportation sectors. The company now has presence in North America, Europe, Middle East and Asia Pacific and is preparing to enter China soon to serve its global clients in Asia's biggest economy.
January 27th, 2013, 01:31 PM
Consolidation, revamp turn IL&FS optimistic (http://www.thehindubusinessline.com/companies/consolidation-revamp-turn-ilfs-optimistic/article4348460.ece?ref=wl_opinion)
For the 18-month period ended September 30, the company posted profits of Rs 44.51 crore, against a modest profit Rs 2.91 crore in 2010-11.
HYDERABAD, JAN. 26:
IL&FS Engineering Services Ltd is on course for a better year ahead after nearly three years of consolidation and restructure of business process and finances.
Things are starting to look up for IL&FS now that it is armed with a master restructure agreement for a comprehensive corporate debt restructure, the approval of the Andhra Pradesh High Court and an order book of over Rs 8,400 crore.
The management of the Hyderabad-based infrastructure company under IL&FS seems to have buried the ghost of the 2009 Satyam Computer Services scam while it was still Maytas Infra Ltd. For the 18 month period ended September 30, 2012, the company posted revenues of Rs 2,145 crore and a profit after adjustment of Rs 44.51 crore. This was against a turnover of Rs 1,067 crore for 2010-11 and a modest profit of Rs 2.91 crore.
The company has begun to win orders in West Asia and Africa through its joint venture with the Saudi Bin Laden Group based in Fujairah and Abu Dhabi. IL&FS, which is set to host its annual general meeting next month, has communicated to shareholders that it has a good case with regard to the inter-corporate deposits it extended through Maytas in the past including Rs 369 crore to the erstwhile Satyam Computer Services Limited.
However, auditors continue to qualify this.
The company’s share capital has come down to Rs 339 crore down from Rs 384 crore following conversion of debentures allotted to some lenders as a part of a corporate debt restructure in which 10 banks participated.
Following the financial and capital restructure, the debt is now at Rs 1,364 crore. The scheme of arrangement has been approved by the Court and includes a modified scheme lodged with the Registrar of Companies.
The company has also taken up the issue of deposits it made with the Andhra Pradesh Government towards the metro rail project re-tendered and awarded to L&T.
According to the company management, while overall growth has slowed, the opportunities in infrastructure sector such as roads, power, pipelines and construction hold immense promise going forward.
January 29th, 2013, 05:48 PM
Pennar Ind bags Rs 40-crore orders (http://business-standard.com/india/news/pennar-ind-bags-rs-40-crore-orders/204394/on)
Orders included one by L&T given for steel mounting structures for its solar projects
Pennar Industries Limited, a Hyderabad-based company engaged in the production and marketing of specialised and engineered steel solutions, has bagged orders aggregating Rs 40 crore.
The orders were awarded by Larsen and Toubro Limited for steel mounting structures for its solar projects, ABB Limited and Lanco Infratech Limited for their solar power systems, and by Ramky Infrastructure Limited for installing and road safety system for a 40-kilometre highway stretch that Ramky is developing.
“These orders indicate our technological capabilities and strong customer relationships. The recent reforms announced by the central government are expected to provide impetus to the growth of the industrial sector in India,” Pennar Industries chief executive, Suhas Baxi, said in a filing to the BSE on Tuesday.
Pennar Industries’ scrip is currently trading at Rs 26.55 on the BSE, up 0.76%, over the previous close of Rs 26.35 a share.
January 29th, 2013, 05:48 PM
India, EU working on bio-treated waste water project (http://business-standard.com/india/news/india-eu-workingbio-treated-waste-water-project/204479/on)
Project will improve agricultural production, farmers' livelihood in India & EU
The Department of Biotechnology (DBT) and the European Union (EU) are jointly working on an integrated bio-treated waste water project -- Water4Crops- India - to improve agricultural production and farmers' livelihood in India and the EU.
"Under the initiative, EU and India will share technologies and expertise for recycling of industrial and domestic waste water for agricultural use to improve the livelihood of the rural poor particularly those in the country’s dryland areas," Antonio Lopez, director of CNRS (Centre national de la recherche scientifique), EU consortium, said addressing media here.
The Hyderabad-headquartered International Crops Research Institute for the Semi-Arid Tropics (Icrisat) is leading the consortium of 12 national partners in the implementation of India’s component of the four-year project, which costs around 12-million euro.
The consortium will work on the Charminar Breweries of SABMiller, an onion and fruit processing plant at Jalgaon, and Ugar Sugar's factory in Karnataka, SP Wani, principal scientist (Waterseds) at Icrisat, said.
In India, the project will be implemented at several industrial complexes including at Ion Exchange India Limited and Larsen & Toubro, along with various academic and research organisations, including Icrisat. "We will also encourage micro-entrepreneurs in rural areas and small towns to take up the project at a smaller scale at the village panchayat level," he said.
The DBT is also carrying out several similar projects with the EU as part of its international collaboration initiative. "The DBT is currently working on some small and large-scale projects with the EU, including a stem cell project and a joint-research project on juvenile diabetes with Denmark," Shailja Vaidya Gupta, director at DBT, said adding that DBT has funded Rs 60 crore on such international collaborative research projects.
January 29th, 2013, 05:50 PM
GSK in 50:50 JV with Biological E for developing paediatric vaccine (http://timesofindia.indiatimes.com/business/india-business/GSK-in-5050-JV-with-Biological-E-for-developing-paediatric-vaccine/articleshow/18234873.cms)
MUMBAI: World's fourth largest drug maker GlaxoSmithKline has teamed up with Hyderabad-based vaccines company Biological E Ltd for early-stage research and development of a six-in-one combination paediatric vaccine to help protect children in India and other developing markets, a move that will strengthen the multinational giant's position in the Rs 1,800-crore Indian vaccine market.
Under the equal joint venture agreement, both companies will develop a six-in-one vaccine for polio and other infectious diseases, reinforcing their commitment to work with the World Health Organisation (WHO) to eradicate polio.
"This agreement is fully aligned with GSK's vision of providing high-quality vaccines to those in need and by leveraging Biological E's strengths, this particular vaccine has the potential to play a significant role in the fight against polio," said Christophe Weber, president of GSK Vaccines.
The JV, however, will enter phase-1 trial in the next two years. GSK will combine its injectable polio vaccine and Biological E will combine its pentavalent vaccine of tetanus, diphtheria, whooping cough, hepatitis B, haemophilus influenzae type B. Both the companies stress that, if successful, this will be the first of its kind vaccine developed for India and other developing markets.
"This relationship is a validation of the investment we have in vaccines technology and quality. We expect to leverage this partnership to accelerate the development of the hexavalent vaccine and make IPV accessible for developing countries in the post eradication phase for polio," said Vijay Kumar Datla, chairman, Biological E.
A report by market research firm Global Business Intelligence (GBI) predicts the Indian vaccine market is expected to jump from Rs 1,800 crore to Rs 4,600 crore by 2016.
January 30th, 2013, 12:48 PM
UK’s First State Investment hikes stake in Dr Reddy’s (http://www.thehindubusinessline.com/markets/stock-markets/uks-first-state-investment-hikes-stake-in-dr-reddys/article4360290.ece?homepage=true&ref=wl_home)
CHENNAI/HYDERABAD, JAN 30:
Dr Reddy's Laboratories has informed the exchanges that First State Investment Management (UK), on its own behalf and First State Investments International Ltd, has picked up 0.124 per cent stake, including ADRs.
Following the acquisition, the UK Group’s holding increased from 4.91 per cent to 5.037 per cent.
The stake was increased by purchasing 1,58,810 shares and 52,735 warrants/convertible securities in the open market on January 28, the Hyderabad-based company informed the Bombay Stock Exchange on Wednesday.
The stock was trading down 0.22 per cent at Rs 1,937.75 on the BSE in morning trade.
At the end of December 2012, promoters held 25.56 per cent stake in the company while FII and DII stake were at 26.17 per cent and 13.98 per cent. Others, including retail investors, have an exposure of 34.29 per cent stake in the pharma major.
January 31st, 2013, 04:25 PM
State Bank of Hyderabad net rises 6.8% (http://www.thehindubusinessline.com/industry-and-economy/banking/state-bank-of-hyderabad-net-rises-68/article4364969.ece?ref=wl_industry-and-economy)
HYDERABAD, JAN 31:
State Bank of Hyderabad’s net profit increased 6.8 per cent at Rs 322 crore in the third quarter ended December 31 compared with Rs 301 crore in the year-ago period.
Its total income increased 13 per cent to Rs 3,374 crore. Net interest income rose 15.4 per cent to Rs 976 crore (Rs 845 crore).
The bank’s total business expanded 16 per cent to touch Rs 1,94,215 crore, while net non-performing assets decreased to 1.48 per cent from 1.99 per cent a year ago, according to a release.
February 1st, 2013, 09:28 PM
Sai Silks to enter capital market to raise Rs 89 cr (http://www.business-standard.com/india/news/sai-silks-to-enter-capital-market-to-raise-rs-89-cr/205011/on)
Its net worth stood at Rs 47.65 cr with total revenue of Rs 262.76 cr
Hyderabad-based jewellery and textile player Sai Silks (Kalamandir) is planning to enter the capital market towards the end of February to raise Rs 89 crore for various expansion programmes and working capital needs.
Engaged in retailing of women’s, kids and men’s wear in addition to gold jewellery, the company is looking to set up four additional retail outlets at an expenditure of Rs 12.73 crore to capture the rapidly growing consumer sentiment in India.
Another Rs 8.50 crore is set to be incurred for brand promotion and the remaining for meeting the long term working capital requirement, said a senior company official.
The core business of Sai Silks (Kalamandir) is retailing of sarees, women dress materials, men & kids wear and sales of gold and silver jewellery. The company as on date has 15 retail outlets across Hyderabad, Guntur, Vijayawada, Bangalore, Kanchipuram and Hanumakonda.
As of March 31st, 2012, the net worth of the company stood at Rs 47.65 crore with its total revenue of Rs 262.76 crore and net profit at Rs 11.69 crore.
The proposed issue is being made through the 100% book building process wherein 10% scheduled to be allocated on a proportionate basis to qualified institutional buyers (QIB) bidders.
Another 5% of the QIB portion shall be available for allocation on a proportionate basis to mutual funds only, and the remainder for allocation on a proportionate basis to all QIB bidders.
Further, not less than 35% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders. Another 55% of the issue shall be available for allocation on a proportionate basis to retail individual bidders.
The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The Book Running Lead Managers to the Issue are Ashika Capital Ltd. and Vivro Financial Services Pvt. Ltd.
February 2nd, 2013, 05:11 PM
Divi's Lab's net surges by 17.7% in Q3 (http://www.pharmabiz.com/NewsDetails.aspx?aid=73525&sid=2)
Divi's Laboratories, a Rs.1840 crore API major from Hyderabad, has posted better growth in top line as well as bottom line during the third quarter ended December 2012 on account of forex gain as against forex loss. Its net profit improved by 17.7 per cent to Rs.144.24 crore from Rs.122.55 crore in the corresponding period of last year. Its net sales went up by 28 per cent to Rs.533.33 crore from Rs.416.58 crore.
The power shortage in Andhra Pradesh put pressure on company's working as the company continues to rely on purchased power at higher cost. With improvement in profits, Earning per share worked improved to Rs.10.86 from Rs.9.24 in the last period.
For the nine months period ended December 2012, Divi's net sales increased by 30.2 per cent to Rs.1,474 crore from Rs.1,132 crore in the similar period of last year. Its EBDITA improved by 29.8 per cent to Rs.610.29 crore from Rs.470.21 crore and net profit by 29.7 per cent to Rs.429.59 crore from Rs.331.19 crore.
February 6th, 2013, 12:49 AM
Kalamandir becomes India's first saree retailer to tap capital market (http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/kalamandir-becomes-indias-first-saree-retailer-to-tap-capital-market/articleshow/18354348.cms)
HYDERABAD: Sai Silks (Kalamandir), popularly known as Kalamandir with 16 retail saree stores spread across South India, has become the country's first saree retailer to tap the capital market to mop up funds for its expansion.
The Hyderabad headquartered saree retailer is planning to mobilise Rs 89 crore through initial public offering (IPO) with a price band of Rs 70-75 a share through book building route. The company plans to deploy a sixth of proceeds on expansion of retail outlets and over two thirds towards long term working capital.
With an annual sales of Rs 263 crore and profit of Rs 12 crore for year to March 2012, Kalamandir is eying more pie of India's more than Rs 50,000 crore women's ethnic wear market that is growing at 8.3% a year.
While W, Biba, FabIndia, Hakoba, Prafful and Vipul are some of the leading mid segment players in the Indian women's ethnic wear, the premium brands include Satya Paul and Anokhi. However, the Kalamandir chairman and MD Prasad Chalavadi said, W and Biba are the only two brands that have pan India presence now.
Addressing reporters in Hyderabad on Tuesday, Prasad said Kalamandir derives large part of its sales from own brands for women's ware that include Kalamandir, Mandir and Varamahalakshmi, which fall under ethnic wear category, with varied price ranges to cater to customers across sections.
Prasad said the saree segment accounts for Rs 28,310 crore or 52% of women's ethnic ware market now, which is estimated to grow at over 6.3% a year to reach Rs 52,152 crore by 2021.
Some of the prominent names in the Indian saree retailers, mostly based out of South, include Pothys, RMKV, Nalli, Sri Kumaran Silks and Chennai Silks. Only Nalli among them expressed interest in tapping the capital market couple of times earlier but yet to finalize its plans.
Of Rs 263 crore of sales in 2011-12, Kalamandir saw gold and jewellery articles contributing more than a third at nearly Rs 100 crore. Aimed at having control over the supply chain, quality and costs, Kalamandir procures most of its sarees and jewellery from two of the group companies, which have a strong network of weavers, said Prasad.
Kalamandir is also offering safety net scheme to the retail shareholders in its IPO wherein the investors will be compensated by the promoters if the price falls below the offer price anytime within six months from the issue. India's securities market regulator Sebi had introduced the safety net in 2006 and is planning to come out with new guidelines soon to boost the confidence of retail investors. At the time of draft new guidelines in September 2012, the regulator observed that investors lost in over 62% of issues during 2008 to 2001 that saw 72 out of 117 scrips witnessing fall in price.
Rajendra Kanoongo, president of Ashika CapitalBSE 0.14 %, one of the book running lead managers, said, Kalamandir now becomes the second Indian company to offer the safety net to investors after SEBI introduced it in 2006. "While the proposed new guidelines stipulate safety net to only 5% of the issue size, Kalamandir is voluntarily going by the old guidelines to offer the benefit to all the retail investors," he told ET.
February 8th, 2013, 08:33 PM
Amara Raja gears up for next growth phase with Rs 750-cr capacity hike (http://www.thehindubusinessline.com/companies/amara-raja-gears-up-for-next-growth-phase-with-rs-750cr-capacity-hike/article4394118.ece)
Leading battery-maker Amara Raja Batteries Ltd is investing Rs 750 crore in expanding its manufacturing capacity. This includes the Rs 440-crore outlay, announced recently.
The Hyderabad-based battery major, which is on course to logging revenues of about Rs 2,900 crore in the financial year ending March 31, 2013, projects that it can achieve a turnover of Rs 4,500 crore with the expanded capacity.
In an exclusive interaction with Business Line, Suresh Kalyan, Chief Financial Officer, outlined how the company is devising strategies for the next growth phase.
Excerpts from the interview:
How will you meet the funding requirements for expansion projects?
We are a debt-free company and have good cash-flows and reserves of Rs 350 crore. We will raise about Rs 250 crore through debt and the rest will be met through internal accruals and cash-flows.
Where are you making the current investments? How much capacity will you add?
The company board last month approved an investment of Rs 440 crore. This is in addition to the approved investment of about Rs 305 crore, which is at various stages of implementation.
Of the Rs 440-crore outlay, Rs 390 crore will go towards increasing the four-wheeler battery capacity from six million to 8.25 million at a new location in Chittoor (AP), where expansion of VRLA (value regulated lead acid) batteries has been taken up. About Rs 50 crore is being invested in such batteries for the telecom sector.
Of the Rs 305-crore expansion, the medium-sized VRLA battery capacity will be hiked from 1.8 million units to 3.6 mu by September. This entails an investment of Rs 190 crore, including Rs 50 crore for land.
About Rs 10 crore has gone towards two-wheeler capacity expansion from 4.8 million to 8.4 million units. Another Rs 15 crore will be spent on capacity addition of four-wheeler batteries from 5.6 million to 6 million by April.
When will you see the actual benefits of the expansion?
Since these are being taken up in phases, the first phase investment of Rs 305 crore will show benefits in 2013-14. But once all the expansion is completed, we will be able to reap the benefits by 2014-15. This will help us hit a revenue rate of about Rs 4,500 crore.
How is the business during the year so far?
We have done well in spite of the tough market conditions. We expect to close the year with a growth of about 23-24 per cent, close to Rs 2,900 crore. The diversified portfolio too has helped.
With the cost of diesel and power going up, telecom towers have shown good volume demand for batteries. The replacement business itself is a big opportunity, though the volume demand had shrunk. Our share will go up to over 50 per cent here.
In the case of two-wheelers, we are not present in the original equipment market, which is about 14-15 million units. We expect to garner a big share there.
The UPS market, which was growing at 14-15 per cent CAGR, has decelerated to 11-12 per cent CAGR. We have a share of 32 per cent and hope to increase it to 40 per cent.
The automotive battery segment seems to have been impacted?
The automotive OE business has seen a de-growth of about 1-2 per cent. But the replacement market is big, growing by about 12-13 per cent. However, the overall auto market is cyclic and the country’s long-term story promises good opportunity.
Therefore, the expansion will help address capacity constraints and address long-term business prospects.
February 8th, 2013, 08:35 PM
Nagarjuna Construction posts Rs 11-cr profit (http://www.thehindubusinessline.com/companies/nagarjuna-construction-posts-rs-11cr-profit/article4394125.ece)
HYDERABAD, FEB. 8:
Nagarjuna Construction Company Limited has posted a net profit of Rs 10.82 crore for the third quarter ended December 31, 2012 on a standalone basis, against a loss of Rs 9.48 crore for the corresponding period last year.
After a couple of tough quarters, the company is now back in profitability mode, though margins were clipped by higher interest rates.
The company posted lower revenues of Rs 1,232 crore for the third quarter, against Rs 1,303 crore for the same period last year.
On a consolidated basis, the Hyderabad-based construction and infrastructure company reported a net profit of Rs 12.39 crore for the third quarter (Rs 10.32 crore). The turnover was Rs 1,558 crore (Rs 1,569 crore).
February 11th, 2013, 06:55 PM
SKS completes two securitisations worth Rs 390 cr (http://www.firstpost.com/business/sks-completes-two-securitisations-worth-rs-390-cr-621230.html)
Hyderabad: SKS Microfinance today said it has concluded securitisation of two loans given to small borrowers aggregating to Rs 390 crore.
With this, SKS Microfinance has completed seven securitization transactions aggregating to Rs 803 crore in FY13, SKS said in a statement. SKS Chief Financial Officer S Dilli Raj said the present transactions generate liquidity of Rs 370 crore for SKS Microfinance, country’s only listed micro-lender, and also bring in the concomitant capital relief.
With this, SKS Microfinance has completed seven securitization transactions aggregating to Rs 803 crore in FY13, SKS said in a statement. Reuters
“Notably, 26 percent of the pool is from Scheduled Caste and Scheduled Tribe entrepreneurs, 18 percent from minorities, 34 percent from Backward Castes and the remaining 22 percent from women belonging to other castes,” the statement said.
“The transactions have helped us provide working capital access to 5,00,000 women rural entrepreneurs while enabling the purchasing banks to achieve their priority sector loan obligations,” Dilli Raj said. The two pools are rated A1+(SO) signifying ‘Highest Safety’ by one of the leading rating agencies, SKS said. The pools comprise receivables from 14 states (excluding Andhra Pradesh), it said.
SKS has completed 22 assignments/ securitization transactions worth Rs 2,481 crore since October 2010, when Andhra Pradesh promulgated its Andhra Pradesh Micro Finance Institutions (Regulation of Money-lending) Ordinance, 2010 (which became an Act in December 2010).
All transactions have been rated A1+(SO), signifying ‘Highest Safety’, by one of the leading rating agencies, and Credit enhancement has not been invoked in any of the structures, SKS statement said. Shares of SKS rose by 10 percent to close at Rs 145.75 apiece on BSE from its previous close.
February 11th, 2013, 06:55 PM
NCC in talks for stake sale in Himachal hydel project (http://www.thehindubusinessline.com/companies/ncc-in-talks-for-stake-sale-in-himachal-hydel-project/article4404556.ece)
HYDERABAD, FEB. 11:
Construction and infrastructure company NCC Ltd has reportedly sold a part of the stake in the 100 MW hydro power project in Himachal Pradesh to an Abu Dhabi-based company.
When asked about this development, Y.D. Murthy, Executive Vice-President, Finance, NCC, said, “The company is in discussions with some investors and it is not possible to comment on such developments.”
NCC is seeking to sell some of the matured assets, such as road projects and hydel power plant investments, to trim its debt.
There have been reports that Taqa, the Abu Dhabi-based Government entity, has picked up stake in the Rs 600-crore project, which has seen some cost escalation.
According to the contractual obligation, the developer has to manage the project for at least six months from the date of commercial operations. The run-of-the-river hydel power project has been implemented through a special purpose vehicle where IL&FS Engineering is a partner.
The Hyderabad-based company, which is also in talks to divest stake in some of the road projects, expects to close a couple of deals before the end of the current financial year.
It has also divested stake in some land parcels.
Murthy said that the company expects to end the financial year with a growth of about 15 per cent. “We expect a better year ahead as there are signs of interest rates softening, a major problem for infrastructure companies,” he said.
February 11th, 2013, 06:56 PM
Mytrah Energy to install 300 MW wind farms in AP by next year-end (http://www.thehindubusinessline.com/companies/mytrah-energy-to-install-300-mw-wind-farms-in-ap-by-next-yearend/article4403864.ece)
HYDERABAD, FEB. 11:
Mytrah Energy (India) Ltd plans to invest about Rs 2,000 crore in setting up 300 MW of wind power generation farms by the end of next year.
Listed on the Alternate Investment Market of London Stock Exchange, and based in Hyderabad, Mytrah Energy now has total installed capacity of 310 MW, including 63 MW in Vajrakarur in Anantapur district.
It invested Rs 400 crore for the Vajrakarur project. Another 37.4 MW is under construction in Kurnool and is expected to be commissioned by September.
The company has entered into an MoU with Andhra Pradesh for more projects in the State. It plans to have an installed capacity 1,000 MW of wind farms in Andhra Pradesh by 2017.
Vikram Kailas, Managing Director, in a statement said, “In the next quarter, we expect to begin construction of another 100 MW in Andhra Pradesh. We are in advanced stages of approval for a further 100 MW capacity.”
The company will have 300 MW in Andhra Pradesh by December 2014 with an investment of Rs 2,000 crore, he said.
Late last year, Andhra Pradesh increased the tariff for wind farms to Rs 4.70 per unit which makes it much better for companies setting them up.
February 13th, 2013, 02:38 PM
Natco Pharma posts strong net profit growth of 33% in Q3, interim dividend of 40% (http://www.pharmabiz.com/NewsDetails.aspx?aid=73733&sid=2)
Natco Pharma, a Rs.525 crore plus Hyderabad based pharma entity, has reported strong growth in top line as well as bottom line during the third quarter ended December 2012 on account of higher exports of APIs and formulations and the management declared interim dividend of 40 per cent for the year 2012-12. Its consolidated net profit jumped by 32.9 per cent to Rs.22.59 crore from Rs.17 crore in the corresponding period of last year. EBDITA also moved up by 62.4 per cent to Rs.51.17 crore from Rs.31.50 crore. Its consolidated net sales went up by 22 per cent to Rs.157.78 crore from Rs.129.31 crore. With smart growth in profits, its earnings per share improved to Rs.7.20 from Rs.5.91 in the last period.
The sales of bulk chemicals increased by 56 per cent to Rs.67.43 crore during the quarter under review from Rs.43.22 crore in the similar period of last year and that formulations increased by 4 per cent to Rs.69.82 crore from Rs.66.83 crore.
For the nine months ended December 2012, Natco's net sales increased by 30.2 per cent to Rs.466.31 crore from Rs.358.21 crore in the same period of last year. Its net profit surged by 28.9 per cent to Rs.60.54 crore from Rs.46.96 crore and EBDITA by 39.7 per cent to Rs.126.23 crore from Rs.90.38 crore. The sales of bulk drugs moved up by 35.1 per cent to Rs.171.30 crore from Rs.126.81 crore in the similar period of last year and that of formulations by 16.4 per cent to Rs.217.95 crore from Rs.186.41 crore.
February 16th, 2013, 04:48 PM
Dr Reddy's: Growth story postponed, outlook healthy (http://www.business-standard.com/article/opinion/dr-reddy-s-growth-story-postponed-outlook-healthy-113021500866_1.html)
Numbers fell short of expectations on weak US show but given the pipeline, growth should pick up soon
In a season of disappointing results, Dr Reddy’s Laboratories made its contribution by reporting profits about 10 per cent lower than market expectations. The pharmaceutical major reported a profit of Rs 378 crore as against hopes of Rs 424 crore. As a result, the stock was battered. It fell almost five per cent over two sessions to Rs 1,811.
The US business posted a turnover of $178 million, lower than the $187 million in September 2012 quarter. This was despite a ramp-up taken by the company in the second quarter. On a year-on-year (y-o-y) comparison, while sales grew 23 per cent (ex-Olanzapine, for which Dr Reddy’s earned exceptional profits in the previous year), profit before tax grew 17 per cent only due to price erosion in key products.
Along with the US, European markets were also affected, with sales falling 20 per cent y-o-y, mainly on account of intense competition in Germany and the company reducing participation in the less remunerative tender business. Positively, the Russian business grew 32 per cent, largely on account of seasonal factors and new launches. The Indian formulations market grew 12 per cent, in line with the industry growth.
The other key segment is pharmaceutical services and active ingredients (PSAI), which grew 28 per cent y-o-y to Rs 713 crore but was affected by lower prices, resulting in margin squeeze.
On the whole, and partly due to higher overheads and research and development (R&D) spend, the company’s operating profit margin fell to 16.5 per cent from 18.2 per cent in the previous quarter, against market expectation of 18.8 per cent (y-o-y is not strictly comparable on account of Olanzapine).
While the results have been below expectations, Dr Reddy’s growth has been pushed forward. The company is confident of catching up on lost growth post-approval of key products and a series of launches across all markets.
It is targeting 30 per cent of new filings to come from low competition/complex products like peptides and complex injectables, for which it is increasing its R&D spend to a over seven per cent from current levels of 6-6.5 per cent of sales. In terms of global markets, the US and Russia will be key to growth. In the Indian and emerging markets, it is looking at the biosimilar segment as growth driver and expects a turnover of Rs 100 crore in FY13 from it. The company is rightly placed and has the first-mover advantage to launch these products.
Given the launch of niche products in the US, though delayed, and pick-up from other markets, Dr Reddy’s can post better performance, going ahead.
February 16th, 2013, 10:31 PM
Satyam buys 51% stake in Brazilian firm (http://newindianexpress.com/business/news/article1465830.ece)
IT services firm Mahindra Satyam (MSat) has acquired 51 per cent stake in Brazilian SAP consulting firm Complex IT for an estimated $23 million. The deal is expected to be closed by next month.
Sources said, MSat is likely to make an upfront payment of $6.5 million in cash and the total payout may go up to $23 million, based on Complex’s earnings over the next 18 months.
Brazil is the second-fastest growing geography globally for SAP. Software revenues from SAP AG grew 20% last year. As per estimates, the current IT spend in Brazil is approximately $70 billion, with $36 billion being spent on services and software.
Following the acquisition, both MSat and Complex will be going to market with proprietary solutions for large manufacturing, financial and consumer services companies. Complex IT’s turnover stood at $50 million last year .
“This combination of Complex and MSat strengthens our commitment to the Brazilian market, which is one of the fastest growing enterprise solutions markets. We look forward to expanding our market presence and offer global delivery capabilities to our customers,” said Arvind Malhotra, Global Head, Latin America & Strategic Accounts, MSat.
As Brazil is gearing up to host FIFA 2014 and Olympics 2016, it is likely to give impetus to an already rapidly growing IT services market.
“The BRICS countries have the potential to achieve a leadership position in the global economy and we believe that MSat and Complex will contribute significantly to this strategic vision,” said Antonio Rossi, Chairman & Chief Executive Officer, Complex IT.
February 25th, 2013, 11:23 PM
Nagarjuna Construction to cut exposure to power business (http://www.livemint.com/Industry/nmUpTEQEQk3n4ElmxFreeK/NCC-seeks-to-reduce-exposure-to-powerbusiness-by-selling-st.html)
Entire holding to be sold in HP project, 50% to be offloaded in AP project, Sikkim plans put on the backburner
Hyderabad: Nagarjuna Construction Co. Ltd (NCC) is in the process of reducing its exposure to the power business by selling stakes in these units.
The Hyderabad-based infrastructure company has three power assets that include two hydroelectric projects in Himachal Pradesh and Sikkim and one coal-based power project in Krishnapatnam, Andhra Pradesh.
The company has already signed a definitive agreement with Abu Dhabi National Energy Co. PJSC (TAQA), the government-controlled energy holding company of Abu Dhabi, to sell its entire stake in the special purpose vehicle (SPV), Himachal Sorang Power Pvt. Ltd, a consortium of NCC and IL&FS Engineering and Construction Co. Ltd.
Himachal Sorang Power is developing a 100 megawatt (MW) merchant power project on Sorang Khad river in Kinnaur district, Himachal Pradesh, at an estimated cost of Rs.600 crore. NCC owns a 67% stake in Himachal Sorang, while IL&FS owns the remaining 33%.
The company has invested Rs.127.7 crore as the equity component in the project, which has a concession to operate and manage the project for 40 years.
“We signed a definitive agreement. We need the approval of the Himachal Pradesh government to sell equity and normally they give (approval) six months after the commercial operations date (COD),” said Y.D. Murthy, executive vice-president of finance at NCC. “The COD is expected in April or May.”
Himachal Sorang has already transferred a 5% stake to TAQA and the rest will be transferred in nine months, NCC said. Murthy declined to disclose the financial details of the stake sale.
NCC has put its 280 MW hydel power project on the river Teesta in North Sikkim on the “backburner”.
The work on the project was put on hold due to issues such as environmental clearance and rehabilitation terms, the company said. Around six projects on the Teesta, including the NCC project, have been stopped by the Sikkim government, Murthy said.
“The government of Sikkim needs to resolve the issues, for us to take up the project,” Murthy said.
NCC has so far invested Rs.91 crore as its equity share in the project, which is estimated to cost Rs.1,960 crore.
“Right now we need not invest on the project,” Murthy said, adding that the company may even give up the project if it finds a taker.
NCC is offloading 50% of the stake in its 1,320 MW greenfield coal-based power project in Krishnapatnam in Nellore district of Andhra Pradesh.
Talks have started there but hasn’t seen much progress due to the economic uncertainty, Murthy said.
NCC is developing the project along with Gayatri Projects Ltd through an SPV called NCC Power Projects Ltd with a total investment outlay of Rs.7,046.9 crore in a 65:35 debt-equity ratio. NCC holds a 55% equity stake in the SPV, while Gayatri holds the rest.
Meanwhile, the company has placed boiler, turbine and generator orders worth Rs.2,600 crore with Chinese-state owned companies Harbin Boiler Co. Ltd and Harbin Turbine Co. Ltd.
The project is based on super critical technology using 70% indigenous coal and 30% imported coal. The project has completed land acquisition and got all clearances including environmental, coastal regulatory zone and sea water drawl clearances. The project also has agreements for coal linkages with Mahanadi Coalfields Ltd, a unit of Coal India Ltd.
The civil works are on currently and the project is expected to start operations in March 2015, Murthy said.
NCC has so far invested Rs.900 crore as equity in various road and power projects, with around Rs.500 crore in the second of these.
It had a total debt of Rs.2,234 crore on a standalone basis as of March 2012. The company plans to retire a portion of it by raising around Rs.400-500 crore through the sale of its assets by March.
Concerns about fuel security, lack of clarity on coal pricing and the inability of state power utilities to raise tariffs substantially and reduce subsidies is deterring potential investors from investing in the Indian power sector, said Krishnakant Thakur, an analyst tracking infrastructure and power at Espirito Santo Securities.
NCC is expecting to end the financial year with 15% growth in revenue and a profit of Rs.90 crore, Murthy said. However, he expects a drop in earnings before interest, taxes, depreciation and amortization (EBITDA) by 1-1.5% compared with the previous year’s 9% advance.
Sluggish execution and delays in getting payments are impacting profitability, said an analyst tracking infrastructure at a Mumbai-based brokerage who did not want to be named citing company policy.
On Monday, NCC declined 5.89% to Rs.38.35 on the BSE, while the benchmark Sensex rose 0.08% to 19,331.69 points.
February 26th, 2013, 11:15 AM
CtrlS crosses Rs 100 crore annuity revenue (http://www.business-standard.com/article/companies/ctrls-crosses-rs-100-crore-annuity-revenue-113022600208_1.html)
The company had closed the previous financial year with an annuity revenue of Rs 47.9 crore
CtrlS Datacenters Limited, a Hyderabad-based IT-enabled managed services provider owning Asia's largest Tier-IV datacentre, has crossed Rs 100 crore in annuity revenue during the 2012 calendar. The company closed the previous financial year ended March 31, 2012, where it recorded annuity revenue of Rs 47.92 crore.
“Today, close to 40 per cent of our revenue comes from the banking, financial services and insurance (BFSI) sector. We see a huge potential in the market and hope to capture a huge share in the market,” CtrlS founder and chief executive officer Sridhar Reddy said in a release on Tuesday.
CtrlS currently owns and operates two facilities in Hyderabad and Mumbai. While the Hyderabad centre consists of 20,000 sft with a rack capacity of 972 and power capacity of 10 Mw, the 200,000-sft Mumbai facility can house 5,000 racks with a 30-Mw of power capacity.
“A third facility is due for launch in the Delhi region during 2013,” CtrlS Datacenters said in the release.
March 6th, 2013, 05:10 PM
ZAHEERABAD (ANDHRA PRADESH), MARCH 6:
Mahindra & Mahindra Ltd on Wednesday launched its first tractor manufacturing plant in Zaheerabad, Andhra Pradesh.
The new plant was inaugurated by Andhra Pradesh Chief Minister N. Kiran Kumar Reddy in the presence of State Minister for Major Industries J. Geetha Reddy.
Anand Mahindra, Chairman, Mahindra Group, and Pawan Goenka, President, Automotive and Farm Equipment Sectors, Mahindra & Mahindra, were present along with other senior officials.
Located about 100 km from Hyderabad in Medak district on Hyderabad-Mumbai Highway, the plant was set up in 18 months.
Goenka said that the plant will achieve full capacity over four years. The market for tractors is subdued now but is expected to pick-up, he added.
The plant, set-up with an investment of over Rs 300 crore, will have an installed capacity of 1,00,000 tractors per annum. This can be scaled-up to meet the additional demand.
The facility, equipped to meet international standards, is spread across 80 acres and is built over 60,000 sq.mt., making it the largest tractor plant in India.
“The new facility rejuvenates the manufacturing sector of Andhra Pradesh by means of superior technological processes, large-scale manufacturing set-up and eco-friendly focus undertaken at the plant. It will not only provide an impetus to industrial growth in the region but will also present significant employment opportunities to local residents,” the Chief Minister said.
M&M will facilitate setting up of a suppliers' park. Seven suppliers are in various stages of setting them up, Goenka said.
Geetha Reddy requested M&M to make AP a base for the company's small passenger mover vehicle.
March 11th, 2013, 08:16 PM
InvestmentYogi raises under $500K from Silicon Valley-based angel investor Safa Rashtchy, others (http://www.vccircle.com/news/technology/2013/03/11/investmentyogi-raises-under-500k-silicon-valley-based-angel-investor-safa)
The funds will be used to grow the team and reach out to more Indian users.
InvestmentYogi FinAdvisory Services Pvt Ltd, the company that owns and operates financial advice website InvestmentYogi.com, has received under $500,000 in angel funding from Silicon Valley-based angel investor Safa Rashtchy (earlier MD at Piper Jaffray and Company, a global Investment bank) and an unnamed angel investor from the financial sector in India. While the exact amount of the funding was not disclosed by the company, the round was raised in January 2013. As part of the transaction, Rashtchy will now become the chairman of the board of the company. Rashtchy was already a founding investor and member of the board.
“The funds will be used to grow the team and reach out to even more Indian users. We have already served over four million users in the country and want this number to exceed eight million by the end of this year,” said Anirudha Basu, chief operating officer, InvestmentYogi.
The Hyderabad-based company was founded in 2008 by Mamtha Banerjee and Sanjay Joshi (at the time CEO and CTO respectively). Mamtha has earlier worked with companies like Travelocity and GetThere and holds a masters degree in computer science from the University of Illinois, Chicago (US). Joshi has worked at companies like One Technologies, Information Systems Development (ISD), Travelocity.com and GetThere, prior to founding InvestmentYogi. Joshi holds a MS degree in computer science from South Dakota State University. Both the founders are now part of its board as advisors (no longer CEO or CTO). In the wake of this development, the company’s board of directors appointed Basu as its COO and Kranthi Kiran as its vice president of technology.
Investment Yogi’s product offerings include online financial planning, tax preparation, e-filing of taxes, budgeting and mutual fund research. It claims to have served more than 4.3 million Indians with questions on personal financial issues, exceeding the company’s initial mission (its TaxYogi product has the top market share now). The company had earlier raised an undisclosed amount (it was in the similar range as this round, according to Basu), also from Rashtchy, among other investors, in July 2009.
According to Basu, the funds raised should last for around two years, post which it will look to raise a larger Series A round.
Early this year, investment analysis and research firm Investopresto Financial Services Pvt Ltd hadraised an undisclosed amount in its second round investment from Singapore-based Crystal Horse Investments and some other investors from the country. Crystal Horse had previously (2011) put $300,000 in the Singapore and Hyderabad-based firm.
March 13th, 2013, 01:09 AM
Mahindra Satyam to increase headcount in Australia (http://timesofindia.indiatimes.com/tech/careers/job-trends/Mahindra-Satyam-to-increase-headcount-in-Australia/articleshow/18930291.cms)
HYDERABAD: IT firm Mahindra Satyam may increase its headcount in Australia to 5,000 in two years from the present 1,600, a senior official of the IT major said.
According to Bobby Gupta, who took charge of Australia and New Zealand (ANZ) operations, the region which is currently contributing eight per cent of Mahindra Satyam's global revenues, is expected to grow up to 10 per cent after merger with Tech Mahindra.
Mahindra Satyam recently appointed Bobby Gupta, who headed Middle East and North Africa (MENA) operations as head of ANZ operations while G B Kumar who was with Cisco Systems earlier would take over operations of MENA region.
"We have a very strong foundation in Australia. We are right now 1,600 people there. We want to make it 5,000 people in two years time," Gupta told PTI after taking over reins of the ANZ operations.
"We have started local hiring from top Australian universities of freshers and experienced people from the local market. This will be supplemented by hiring at various ODC (offshore development centres) spread out in India, Malaysia and Philippines," he added.
Replying to a query, on the percentage of local employees, Gupta said the ratio will continue to be 40 in Australia and 60 per cent at various global locations supporting Australian clients.
He said currently MSat has over 35 clients in Australia out of which 6 to 7 are key clients in terms of revenue.
The company's big customers include Qantas and National Australia Bank.
Replying to a query on revenues he said ANZ is currently contributing 8 per cent to MSat's global revenues.
The IT firm reported little over $1 billion revenues from global operations for the nine months period ended December 31, 2012. For the full financial year 2012, it recorded $1.31 billion.
"Right now, we contribute around 8 per cent to the global revenues of Mahindra Satyam. When both the companies ( MSat and TechM) are merged in the next few months time, we aim to achieve ten per cent of global revenues of the combined entity by 2015," he expressed hope.
On the Gulf market, Gupta said, the region is rapidly growing and political disturbance had no impact on company's operations.
Sources in MSat said revenues from MENA region was currently touching $100 million.
Rohit Gandhi, Sr Vice President- Asia-Pacific, India, Middle East and Africa, Mahindra Satyam had earlier said, both ANZ and Middle East and Africa (MEA) markets are high-growth opportunities for Mahindra Satyam, after completion of merger with Tech Mahindra.
April 2nd, 2013, 08:07 AM
The indigenous car project of MLR Motors that was to come up in Medak district has been shelved. :bash::bash::bash::bash::bash:The promoters have scaled down the project to building three-wheeler vehicles instead.
The company accordingly surrendered 100 acres of the 200 acres of land given to it, and assured the government that it would launch the alternative project soon.
“Going by the credibility of the promoter in the automobile industry, the government decided to continue to give him one more chance,” said major industries minister J. Geeta Reddy. MLR Motors is promoted by the Hyderabad-based Lokesh Machines.
The overall economic slowdown and lack of international collaborations scuttled the car project, but the minister said the government may consider the possibility of the project being revived at a later date before it takes back all the land it allotted.
Dr Reddy was interacting with the media after launching Parishkaram, an online grievance redressal system of the AP Industrial Infrastructure Corporation.
Land allotment of APIIC goes online
Major industries minister J. Geeta Reddy said the AP Industrial Infrastructure Corporation has lined up several projects including a financial tower centre in Nanakramguda, Games Animation Media and Entertainment City in Raidurg and an international leather park in Nellore.
Dr Reddy said the financial tower would come up on 3.2 acres with built-up space of four lakh sft and investment of `100 crore.
The GAME City will be built on 30 acres with investment of `150 crore where world class facilities for the animation and entertainment industries would be created.
APIIC has approached the Centre for environmental clearance for the international leather park in Krishna-patnam that is to come up on 487 acres with an investment of `172 crore. This is in addition to the logistics hub on National Highway 5 near Nellore, she added.
Once bitten twice shy, the APIIC, which has been criticised for liberal allotment of land, has tightened the allotment procedure and introduced online allotment of plots in its industrial estates.
“Of the 1,508 applications received online for allotment of 3,069 acres, APIIC allotted 2,103 acres worth `580 crore to 516 applicants,” the minister said.
Applicants for land, either industrialists or new applicants, in the industrial estates can register their problem through Parish-karam and the corporation will not only attend to the grievance but inform the applicant of the final decision in a specified time schedule, she added. The minister also launched a citizen’s charter in this regard.
Maintaining that the government was keen to re-possess land that had not been utilised, the minister said notices were issued to take back 18,000 acres.
Of this, 2,947 acres were already taken back by cancelling allotments in 67 cases.
April 25th, 2013, 09:59 AM
Cisco pumps $10m into Hyderabad-based Apalya (http://www.mydigitalfc.com/news/cisco-pumps-10m-hyderabad-based-apalya-657)
Hyderabad-based Apalya Technologies, a managed service provider of video streaming to telecom operators, handset manufacturers and content owners, has raised $10 million in a series-C funding from Cisco, according to Vamshi Krishna, its chief executive officer and founder.
Apalya, backed by IDG Ventures India, Indo US Venture Partners and Qualcomm, has a video delivery platform that optimises content to be suitable for viewing on all screens integrating with mobile advertising and creating new revenue streams across the new media value chain.
Apalya has a content bouquet of 200 plus channels and more than 15 million users. It serves more than 200 million minutes of video viewings across mobile phones and tablets, mobile broadband and fixed line broadband.
Krishna said the investments will be used for expansion in the international markets including Latin America, West Asia, Sri Lanka, Indonesia and others.
The company is hoping that overseas operations will account for 40 per cent of its revenues in two years, up from the current 20 per cent. It is also hopeful of tapping Rs 100 crore revenues in a year and a half. He declined to quantify how much equity has been diluted in favour of Cisco.
Cisco in a statement had said it has added live TV and mobile video capabilities to its Cisco Videoscape architecture by integrating the video delivery platform from Apalya Technologies. It invested in Apalya to deliver solutions to multi-system operators (MSOs) operating multiple cable or direct-broadcast satellite television systems.
According to Cisco Visual Networking Index, global mobile data traffic will grow 13-fold from 2012 to 2017.
May 1st, 2013, 04:39 PM
HIL will continue to grow at 15 percent (http://www.newstrackindia.com/newsdetails/2013/05/01/284--HIL-will-continue-to-grow-at-15-percent-.html)
Hyderabad, May 1 (IANS) HIL Limited, a flagship company of the C.K. Birla Group of companies, will continue to grow at 15 percent with strong focus on green building products, managing director Abhaya Shankar said Wednesday.
HIL, formerly Hyderabad Industries Limited, a house-hold name in asbestos cement (AC) roof sheeting, is increasing by five percent every year the share of green building products in its revenue.
The Hyderabad-based company has reduced the AC roof sheeting revenue to 80 percent, against 90 percent a couple of years ago.
Shankar told reporters here that the company was growing at 10-15 percent every year and they would like to continue 15 percent growth. Its revenues were Rs.950 crore during 2011-12, almost doubled in four years.
He declined to share the numbers for 2012-13, saying the board meeting would be held soon.
He said the infrastructure sector had taken a huge hit due to the economic slowdown, affecting their business. Hoping that the current year would be better than the last, he said this would depend on the government policies and the fiscal policy of the Reserve Bank of India.
Over six-decade old HIL is transforming itself into a manufacturer of green building products and solutions provider in tune with the changing demands of environment-conscious consumers.
The company, however, is not giving up manufacture of crystolite asbestos roof sheeting.
Shankar said AC roof sheeting continue to be an affordable source of hard roof for rural and low-income households.
He said a Nielson study recently showed that HIL's AC roof sheeting Charminar was ahead of any brand name in building material space. "We are further strengthening this brand but also pushing other brands," he said.
He said by the end of current fiscal, they would increase the capacity of their Aerocon Autoclaved Aerated Concrete (AAC) blocks capacity at Surat plant from 3.2 lakh cubic meters to 4.2 lakh cubic metres.
The demand for AAC blocks is increasing as the traditional red bricks are considered environmentally bad.
May 10th, 2013, 09:31 PM
Suven Life secures three more patents (http://www.business-standard.com/article/companies/suven-life-secures-three-more-patents-113051000211_1.html)
The patents have been granted to new chemical entities for treatmentof Alzheimers' and Parkinson's
Hyderabad-based biopharmaceutical company Suven Life Sciences Limited has secured two product patents from Canada and one product patent from Eurasia corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2028.
The granted patents include the class of selective 5-HT compounds discovered by the company and are being developed as therapeutic agents useful in the treatment of cognitive impairment associated with Alzheimer’s disease, attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.
With the these patents, Suven now has a total of 12 patents from Canada and 13 from Eurasia. These patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts.
Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, the company stated in a press release on Friday.
May 14th, 2013, 11:36 PM
DRL's Q4 net surges 67% (http://www.business-standard.com/article/companies/dr-reddy-s-q4-net-surges-67-113051400427_1.html)
Revenue for the quarter under review grew 25.63% to Rs 3,340 crore, as against Rs 2,658.4 crore in the same period a year ago
Dr Reddy’s Laboratories (DRL) on Tuesday reported a 66.6 per cent increase in net profit to Rs 571 crore for the quarter ended March 31, compared with Rs 342.7 crore in the corresponding quarter last year. This was driven by robust sales from North America and emerging markets in the global generics segment besides improved performance from the pharmaceutical services and active ingredients segment.
Revenue grew 25.6 per cent to Rs 3,340 crore, against Rs 2,658.4 crore in the same period last year.
For the year ended March 31, net profit stood at Rs 1,677.6 crore, against Rs 1,426 crore, an increase of 17.6 per cent. It witnessed a 20 per cent growth in revenue to Rs 11,626.6 crore, compared with Rs 9,673.7 crore in the previous year. Revenue from the global generics segment stood at Rs 8,260 crore, a y-o-y growth of 18 per cent.
In the global generics segment, revenue from North America stood at Rs 3,780 crore, a growth of 19 per cent.
“The growth was largely driven by key limited competition products such as ziprasidone, fondaparinux, ramp-up in the company’s antibiotics portfolio and products from its Shreveport facility in the US,” Managing Director Satish Reddy said.
Stating that a lot of patent expires were happening in the North American market, he said the company was looking at other dosage forms like injectables to grow in that geography. “OTC (over-the-counter) is a big segment and we will continue to invest in resources there,” he said.
Revenue in the generics segment from the emerging markets for the year stood at Rs 2,240 crore, a growth of 31 per cent, while that from India was up 13.2 per cent to Rs 1,460 crore from Rs 1,290 crore. The growth was driven by volume increase across most key brands and new product launches.
DRL had launched 14 new products during the year, with the major contributors being finasteride 1mg (180-day exclusivity), montelukast granules, atorvastatin, metoprolol, clopidogrel, ibandronate and zoledronic acid 4 mg/5ml.
Finasteride cornered a market share of 78 per cent in the global generics market, while OTC revenues contributed 34 per cent to the company’s annual sales. According to Dr Reddy’s chairman GV Prasad, the company has been garnering OTC revenues from India as well, but the scale is different.
On the biosimilars business, Prasad said the company had collaborated with Merck Serono, a part of Germany-based Merck KGaA, to develop and commercialise biosimilars, in the last financial year.
“We expect to see the cash coming in from this tie-up in three to four years from now,” he said.
May 14th, 2013, 11:37 PM
Suven Q4 net up 20% at Rs 8.63 crore (http://www.business-standard.com/article/companies/suven-q4-net-up-20-at-rs-8-63-crore-113051400461_1.html)
For the full year, the company's net profit more than doubled at Rs 30.8 crore
Hyderabad-based bio pharmaceutical company Suven Life Sciences Limited has reported a 20.78% increase in net profit at Rs 8.63 crore for quarter ended March, 2013 on the back of revenue growth.
The company reported a net profit of Rs 7.15 crore in the corresponding quarter last year. Total income for the company during the three month period grew by 19.63% to Rs 75.24 crore from Rs 62.89 crore in the corresponding previous quarter.
For the full year ended March, 2013, the company's net profit more than doubled at Rs 30.83 crore from Rs 14.36 crore in the previous year helped by lower growth in expenses. Total income for the full year stood at Rs 258.92 crore, an increase of 25.63% over Rs 206.11 core in the previous year.
May 15th, 2013, 01:21 PM
GVK Power & Infra widens to Rs 171 crore in Q4 (http://www.business-standard.com/article/companies/gvk-power-infra-widens-to-rs-171-crore-in-q4-113051500522_1.html)
Losses incurred by the power segment of GVK negated impact of nearly 46% increase in revenues from airport segment at Rs 473 cr
GVK Power and Infrastructure today said its consolidated net loss widened many folds to Rs 171.01 crore in the fourth quarter ended March, 2013, largely due to increased expenses and losses incurred in the power business.
The flagship firm of Hyderabad-based GVK group had reported a consolidated net loss of Rs 20.88 crore during the corresponding quarter of 2011-12.
Net sales of the company also declined nearly 24% to Rs 500.07 crore during the quarter as GVK reported a loss of Rs 39.85 crore in its power business, it said in a filing to the BSE. During the corresponding quarter of FY12, it had reported a net sales of Rs 657.59 crore.
The losses incurred by the power segment of GVK negated the impact of nearly 46% increase in its revenues from the airport segment at Rs 473.46 crore and 12% rise in roads segment at Rs 65.71 crore.
Besides, company's annual fee to Airport Authority of India, for operating two airports at Mumbai and Bengaluru, jumped 50% (at Rs 187.31 crore) during the quarter. Due to this, GVK's consolidated expenses, at Rs 614.10 crore, was more than its net sales at Rs 500.07 crore.
For the year ended March, 2013, GVK reported a consolidated net loss of Rs 335.97 crore vis-a-vis Rs 61.46 crore profit of 2011-12.
Besides, its net sales also increased marginally by 4.65% at Rs 2,607.65 crore as it was impacted by over 46% decline in gross revenues from the power business at Rs 895.45 crore.
The fall in income from the power segment also negated the impact of 2.45 times increase in revenues from the airport segment (at Rs 1,462.12 crore). Besides, nearly 55% rise in GVK's interest outgo at Rs 707.93 crore during the year also impacted its financial results.
As on March, 31, its total borrowings stood at Rs 17,085.20 crore, while it has cash and cash equivalents of Rs 2,080.16 crore.
Shares of the company were being traded at Rs 9.48 apiece on the BSE at 1430 hours, up 2.16% from their previous close.
May 16th, 2013, 09:29 PM
GMR to file technical bid for Philippines airport project (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/construction/gmr-to-file-technical-bid-for-philippines-airport-project/articleshow/20085221.cms)
HYDERABAD: GMR Infrastructure, along with its partner Megawide Construction Corp, is all set to file technical bid for developing 17.5 billion peso (USD 425 million) Mactan-Cebu International Airport project in the Philippines, a senior company official has said.
GMR Infrastructure has three months to submit the bid documents as it was shortlisted in the pre-qualification bid.
"We will have to file technical bid first and later the financial bid for the project. We have three months time to submit the documents", the official told reporters.
All the seven groups who submitted the bid for the airport project were pre-qualified, according to reports in the Philippines media.
The financial bids will be opened on August 17 and a notice of award will be sent to the winner on September 17.
According to the bid document, the Mactan-Cebu airport project involves construction of a passenger terminal building with a capacity of eight million passengers per year. It also envisages renovation and expansion of the old facilities, installation of required equipment and operation of both the old and new facilities.
The successful bidder will be awarded a 20-year concession contract to operate, while the project will be developed in two phases at an estimated cost of 17.5 billion peso (the currency of Philippines).
MCIA is the second largest airport in the Philippines after Manila International Airport and had handled more than 6.2 million domestic and international passengers in 2011.
The airport is also a major gateway for various tourist destinations in central and southern provinces of Philippines.
The Philippines government is of the view that MCIA needs to expand the airport, especially since passenger traffic has grown by an unprecedented rate of 13 per cent for the last 10 years.
The Department of Tourism of Philippines anticipates 10 million tourists to visit the country by 2016.
GMR Infrastructure operates two airports in India -- Delhi International Airport and Hyderabad International Airport -- and Istanbul Sabiha Gokcen International Airport (ISGIA) at Istanbul in Turkey.
Last year, GMR, which has presence in roads, power and airports sectors, had to make an unceremonious exit from Male International Airport after that government cancelled its concession agreement.
Currently, the matter is pending before an arbitration panel.
GMR Infra shares are quoted at Rs 23.15 apiece, up 1.31 per cent on BSE during afternoon trade.
May 23rd, 2013, 01:19 PM
Will sustain 10-15% growth in FY14: NCC's Murthy (http://www.moneycontrol.com/news/results-boardroom/will-sustain-10-15-growthfy14-nccs-murthy_878921.html)
Construction firm NCC says its debtor days have improved to 73 days and tihs will improve cash flow.
Monetisation of power and road assets boosted construction firm NCC’s March quarter performance. Recently, the company with diversified interest in power, building and electrical divisions, sold entire stake in Himachal Sorang Power project which is developing a 100 megawatt merchant power project in Kinnur district.
The Hyderabad-based firm reported over three-fold year-on-year jump in profit for the quarter gone-by on timely execution of projects.
Read This: Will monetise assets to reduce debt: NCC's Murthy
In an interview with CNBC-TV18, YD Murthy, executive vice pre NCC ent-finance, NCC said, the firm is confident of sustaining 10-15 percent topline growth in FY14 as the firm in the process of optimising operational efficiencies.
Like NCC ustry peers, NCC will also push hard to improve its orderbook size in FY14. The firm’s order book as on March 31 stands at Rs 18,555 crore. The firm has fine tuned business strategy to ease liquidity condition.
In capital intensive infra projects, companies are finding it extremely difficult to grapple with delayed payments from customers. However, Murthy affirms that NCC’s debtor days have improved to 73 days which will improve cash flows.
Below is the edited transcript of Murthy's interview to CNBC-TV18.
Q: The surprise largely has come in on the operating margin front, which has expanded to 9 percent. Can you take us through how you managed that improvement in margins?
A: Q4 has been pretty good for us. We were able to improve our working capital cycle and also the operating margins mainly because of falling inflation and falling commodity prices and improvement in our performance.
Added to that are three distinct positive developments that have taken place in Q4. One is, the debt in the books of the company has come down by about Rs 297 crore and now we are in our comfort zone as far as the debt is concerned. It is around Rs 2,225 crore now.
The second one and the more important one is the improvement in the working capital cycle. The working capital days have come down substantially and the debt collection period, which was 89 days at the end of Q3 has come down to a very impressive 73 days at the end of Q4. This is likely to release substantial working capital into the system and that is going to help us to improve our performance based on the release of the working capital.
We have put special efforts to see that the clients take care of our payments in time and we have formed a special team and director level interaction was also there.
May 26th, 2013, 05:07 AM
HYDERABAD: With many plots in special economic zones (SEZ) and industrial parks, developed by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), lying vacant due to lack of poor marketing, the corporation has decided to rope in professionals to market its project like private developers.
For marketing and promoting its SEZs and industrial parks, the APIIC is now in the process of hiring marketing and communication managers. The marketing professionals will knock on the doors of big industrialists and promoters and invite them to set up shop at the SEZs and industrial parks.
As of now, 115 SEZs, mostly in the past decade, have come up in the state. Of them, 76 SEZs were notified and others have formal approval. Among the notified, 17 were promoted by APIIC. Another six SEZs were taken up as joint venture projects like Fab City in the city and Ramky Pharma City in Visakhapatnam. Similary, 30 SEZs were promoted by private developers and 21 were developed by private parties with the assistance of APIIC.
"APIIC is developing an international leather park in Krishnapatnam in an extent of 487 acres (50 plots) by pumping in Rs 172 crore. Our marketing team will meet 20 industrialists and entrepreneurs working in the leather industry and present facilities and features being provided at the park (on the lines of a Chittoor-based SEZ promoter)," APIIC vice-chairman and managing director Jayesh Ranjan told STOI.
Apart from the leather park, APIIC has proposed to develop a 'Games City' in Raidurg for gaming, animation media and entertainment in an extent of 30 acres on the lines of the Singapore Multi Media Super Corrdior and Dubai Media City. Similarly, Financial Tower is being developed by the Infrastructure Corporation in 302 acres in Nanakramguda with four lakh built up space, which needs a good marketing strategy.
Officials said over 1,500 plots ranging between five acres and 25 acres (nearly 2.91 crore square metres) were lying vacant in industrial parks in the state, including 496 plots in Shamshabad, 137 in Jeedimetla industrial area, 108 in Patancheru, four plots in Moula Ali, 366 plots in Kurnool and 166 plots in Visakhapatnam.
"Lethargic APIIC officers do not even make any effort to attract entrepreneurs. Even if any entrepreneur goes to them seeking land allotment, they make him do the rounds for getting a plot," an industrialist remarked.
However, officials claim since April plot allotment application was posted online to simplify procedures and ensure hassle-free clearances. They said nearly 1,500 applications were received online and over 600 were cleared till this month.:banana::banana::banana::banana::banana::banana::banana::banana:
May 26th, 2013, 05:11 AM
HYDERABAD: The state has been granted another National Investment Manufacturing Zone (NIMZ) near Ongole in Prakasam district. This was announced by Union commerce and industry minister Anand Sharma at a press conference jointly addressed by him and chief minister N Kiran Kumar Reddy on Saturday.
This will be in addition to the two NIMZs already cleared in principle by the central government in Medak and Chittoor districts. The zones will be developed as integrated industrial townships with state-of-the-art infrastructure, clean and energy-efficient technology and skill development facilities. Andhra Pradesh would be the second state after Maharashtra to have more than two NIMZs. The Centre has already given in principal approval for 12 NIMZs, which will get several incentives like exemption from capital gains tax and liberalised labour and environmental norms.
These zones are being set up under the National Manufacturing Policy of 2011, with an aim to increase the share of the manufacturing sector in the GDP from the present 16 per cent to 25 per cent. "Japan, Germany, the UK, Russia and China have shown keen interest in investing in these NIMZs and things are moving," the Union minister said. Earlier in the day, the minister laid the foundation stone for the National Institute of Design (NID) at Gachibowli.
Stressing on more employment opportunities, the minister said the manufacturing sector would provide jobs to 150 million youth who would join the work force by 2025. Complimenting the state for making good progress in the designing sector, he said the Centre is ready to extend financial help to 46 more handloom clusters in the state. At present, it is providing aid to 52 clusters, he said. Sharma also agreed to provide health insurance to workers in the power loom industry by designing a special package. At the request of the chief minister, Sharma agreed to sanction 'mega clusters' at Dharmavaram, where 47,000 silk looms are present.
The minister said also yes to establishing the 'World Pharma Trade Centre' in Hyderabad for which the state government has already earmarked 5 acres of land. Sharma directed the officials to make all efforts to lay the foundation for Footwear Designing and Development Institute (FDDI) at Hyderabad within 30 to 45 days time. He added that around 1,000 students would be trained annually in this international standard institute in Leatherware Fashion Technology and the required funds would be given by the Small Industries Development Bank of India (SIDBI).:banana::banana::banana::banana::banana::banana: The minister also asked the government officials to revalidate the previously sanctioned Mega Tanning Cluster Complex at Kothapatnam of Nellore district
May 27th, 2013, 10:44 AM
IL&FS, StanChart PE Plan To Launch Infra Fund (http://www.dealcurry.com/20130527-IL-FS-StanChart-PE-Plan-To-Launch-Infra-Fund.htm)
IL&FS Investment Managers Ltd and Standard Chartered PE Ltd are planning to launch a $600 Mn infrastructure fund, mint states.
With many infrastructure companies including L&T and Essar Projects looking to start operations in Middle East, the new fund also plans to invest there.
The fund plans to raise investment from investors of its previous funds and is likely to close within a year.
Standard Chartered IL&FS Asia Infrastructure Growth Fund was the previous fund these two companies launched together in 2008.
It was a $658 Mn pan-Asia infrastructure fund with focus in India and China. It has invested in IL&FS Transportation Networks Ltd and Malakoff Corporation Bhd.
Standard Chartered IL&FS Asia Infrastructure Growth Fund Company was planning to pick up 17% equity in Hyderabad-based infrastructure company Navayuga Road Projects (NRPPL) for R360 Cr.
Last month, L&T's NBFC arm, L&T Infrastructure Finance was on course to launch its maiden debt fund with a corpus of $500 Mn. Earlier Kotak Mahindra Bank’s long planned $300 Mn infrastructure fund received part committed funds from its partners, Sumitomo Mitsui Banking Corp. and JBIC of Japan and from Toronto based investor Brookfield Asset Management Inc.
PE investment in Indian infrastructure is poised to pick up following a lengthy dry patch as debt-stressed operators of toll roads and other projects come under pressure from banks to offload assets to strengthen balance sheets.
Macquarie SBI Infrastructure Investments has invested R893 Cr in GMR Infrastructure’s wholly-owned subsidiary GMR Airports Holding, which runs the Delhi and Hyderabad airports. GMR Group had also signed a pact with Macquarie SBI Infrastructure Investments Pte and SBI Macquarie Infrastructure Trust to divest 74% stake in GMR Jadcherla Expressways Ltd for R206 Cr.
GMR Infrastructure was in talks with potential investors such as Morgan Stanley Infrastructure Fund, Citigroup Venture Capital, SBI Macquarie and ICICI Venture to divest stake in four toll road assets and raise about R1,800 Cr to cut debt.
Potential deals that we may see in the future - Transstroy India Ltd divesting its stake in five of its matured road assets and Madhucon Projects might divest stake and NCC sells 51% stake sale in 78-km toll road in Uttar Pradesh to Morgan Stanley's infrastructure fund.
May 31st, 2013, 02:09 AM
Aurobindo Pharma posts Rs 108.61 cr profit (http://www.livemint.com/Companies/LTVwVsi09ZfaG6EvZbfVXM/Aurobindo-Pharma-posts-Rs-10861-cr-profit.html)
Aurobindo Pharma revenue rose 32% to Rs.1,570.37 crore from Rs.1,190.72 crore in the fourth quarter
Hyderabad: Higher sales on the back of new product launches in the US market helped Hyderabad-based drug maker Aurobindo Pharma Ltd on Thursday to post a net profit of Rs.108.61 crore on consolidated basis in the quarter ended 31 March. The company posted a net profit of Rs.108 crore in the year ago period, largely aided by a one-off foreign exchange gain of Rs.103.45 crore.
Revenue rose 32% to Rs.1,570.37 crore from Rs.1,190.72 crore in the fourth quarter.
For full year ended 31 March, Aurobindo reported a net profit of Rs.293.85 crore, against a loss of Rs.123.50 crore in the year ago period. Revenue grew 27% to Rs.5,855.3 crore.
“Leveraging on steady flow of product approvals and traction in the existing basket across key markets has helped better capacity utilisation thereby improving revenues and bottom-line on a year on year basis,” managing director N. Govindarajan said in a statement.
“We expect the growth momentum to continue through new product launches and unfolding of our injectible portfolio and deliver on better operational performance in the coming quarters with improved business mix both in formulations and active pharmaceutical ingredients,” Govindarajan said.
Aurobindo got approvals to launch 12 new generic products in the US in the fourth quarter.
The results were announced after the close of trading on the stock markets on Thursday. Shares of Aurobindo gained 0.48% to close at Rs.177.40 on BSE, while the benchmark Sensex rose 0.34% to 20,215.40 points.
June 1st, 2013, 02:46 PM
Hyderabad firm makes reactors for pharma, fertiliser units
HYDERABAD MAY 31:
A small, Rs 25-crore unit, tucked away in a remote corner of Jeedimetla industrial area in Hyderabad, will now be able to help bulk drug and fertiliser makers save crores of rupees by supplying a key input.
Started by a first-generation entrepreneur, the company, Standard Glass Lining Technology Ltd, is now the third firm in India to make glass-lined reactors, required by every maker of bulk drugs, fertilisers and chemical products.
The other two players — Indian subsidiaries of US-based GMM Pfaudler and France-based De Deitrich — can together supply hardly 60 per cent of the requirement of about 3,500 such reactors.
While the US firm’s subsidiary produces 800 units annually at its Gujarat unit, the other entity makes 1,200 units in Hyderabad.
The demand for this product is growing in India, as these sectors are switching over from plain stainless steel reactors to glass-lined ones.
The Hyderabad company has come out with glass-lined reactors using the latest patented technology of the Central Glass and Ceramic Research Institute, Kolkata which enhances the life of the reactors as compared with those in the market.
Its cost is just 30 per cent of the imported one, as it is indigenous.
“Pharma and fertiliser companies today have to wait for at least 25-30 weeks to get these reactors from overseas. We are now equipped to supply these in 4-5 weeks,” K. Nageswar Rao, Managing Director, said.
Rao was a senior official of De Deitrich, before he decided to start his own venture using CGCRI technology about a year ago.
Standard Glass has a capacity of 600 units a year, with reactors ranging in size from 63 litres to 1,600 litres, and priced between Rs 3 lakh and Rs 35 lakh.
“In the next two years, we plan to scale up capacity to produce 30,000-lt reactors, currently priced at about Rs 60 lakh each. Only Pfaudler makes such large reactors in India today,” Rao said.
Even with this new capacity, there will be a shortfall of about 900 to 1000 units a year in the estimated Rs 300-crore market for such reactors.
“The demand is growing at 30 per cent. We have already received orders for Rs 1 crore from pharma majors, including Dr Reddy’s and Natco. We expect to get orders for 250-300 units in our first year of production,” he said.
June 4th, 2013, 12:28 PM
Dr Reddy’s allots ESOPs (http://www.thehindubusinessline.com/markets/dr-reddys-allots-esops/article4781188.ece)
HYDERABAD, JUNE 4:
Dr Reddy’s Laboratories Ltd has allotted 1,55,781 fully-paid up equity shares of Rs 5 each to employees on exercise of their stock options.
The allotment was made on Monday, the Hyderabad-based company informed the Bombay Stock Exchange on Tuesday.
June 6th, 2013, 04:48 PM
Leading India-based Global Pharmaceutical Company, Dr. Reddy’s Laboratories Selects Polycom® RealPresence® Video Collaboration Solutions to Accelerate Drug Development and Time to Market (http://www.businesswire.com/news/home/20130606005339/en/Leading-India-based-Global-Pharmaceutical-Company-Dr.-Reddy%E2%80%99s)
Global pharmaceutical company attributes secure video collaboration as fundamental in uniting knowledge workers for consultation and speedy decision-making across time zones
Immersive video collaboration links major corporate sites from Hyderabad, India to New Jersey, USA and global manufacturing and R&D units
Dr. Reddy’s also uses Polycom RealPresence® Mobile video solution to allow executives to join critical internal meetings from anywhere while on the move
HYDERABAD, India--(BUSINESS WIRE)--Polycom, Inc. (Nasdaq: PLCM) the global leader in open, standards-based unified communications and collaboration (UC&C), today announced that Dr. Reddy’s Laboratories Limited, a global pharmaceutical company, has selected Polycom® immersive video collaboration solutions including the Polycom® RealPresence® Experience (RPX), to enable executives and employees across two major corporate offices in Hyderabad, India, and Bridgewater, New Jersey, USA to collaborate face-to-face via secure, high-definition video. The company’s smaller offices, manufacturing units, and research and development facilities dispersed across the globe will also benefit from the rollout of the video collaboration solutions.
“For a company with widely dispersed teams and in an industry that requires constant conferring, video collaboration is the anytime access solution for speedy decision-making and shortened time to market”
Dr. Reddy’s has deployed several Polycom solutions to improve its business processes. This includes two Polycom RPX™ immersive telepresence solutions in its Hyderabad and Bridgewater, New Jersey corporate centers, fitted with document cameras to display samples of drugs and generics for real-time inspections with FDA officials, product reviews with co-workers, and sample showcases for buyers. To expedite senior level decision making between the US and India and to reduce the time and cost of frequent travel, the company also selected the Polycom RealPresence® Immersive (RPX™ 200) series: a fully immersive video experience with an all-inclusive meeting space that brings HD video, audio, and content-sharing to a cinematic video wall. In addition, Dr. Reddy’s financial and marketing teams are also benefiting from video capabilities, for everything from joining the announcement of quarterly results to sharing market development information and product promotions.
Additionally, the implementation of Polycom® RealPresence® Mobile video solutions across iOS and Android smartphones and tablet devices has meant that senior level executives are able to join critical internal meetings from anywhere while on the move. The company has also deployed management suites monitoring and scheduling capabilities.
“Our company’s global demand for instant communication across distances, particularly between R&D teams to make decisions quickly, meant that we required more effective and efficient ways to collaborate. With Polycom video, we are getting the most comprehensive UC infrastructure that meets our needs to deliver wide-scale communications across the company, enabling our research and technical teams to meet across any distance and collaborate securely and instantly for vital consultation and decision-making,” said Atanu Roy, Chief Technical Officer, Dr. Reddy’s. “For our executive team in particular, video collaboration has enabled a new way of conducting business without the need for frequent travel across large distances. This in itself has not only helped us achieve significant savings in time and travel cost, but also establish a better work-life balance.”
Polycom teamed with HP to deliver a complete end-to-end video collaboration solution that satisfied Dr. Reddy’s requirements, working with a wide range of UC solutions, including Microsoft® Lync®, which the company looks to apply in the future. With the combination of Lync and Polycom RealPresence solutions, employees will be able to launch video collaboration sessions easily and intuitively from within familiar interfaces and normal workflows, from any work environment on- or off-premises.
“For a company with widely dispersed teams and in an industry that requires constant conferring, video collaboration is the anytime access solution for speedy decision-making and shortened time to market,” said Michael Alp, President Asia Pacific, Polycom. “With Polycom’s high-definition video collaboration and advanced content-sharing capabilities, the true-to-life immersive video collaboration makes all the difference in making team meetings highly effective.”
Dr. Reddy’s will look to implement additional immersive, room, and mobile video solutions across more locations to continue the transformation in team collaborations and create a new video work culture. Further, the company also plans to introduce video collaboration at manufacturing facilities to enable R&D teams to liaise more quickly and efficiently in formulating new drugs and generics, and obtaining approvals from authorities.
June 7th, 2013, 07:25 PM
Aurobindo Pharma to launch 20 drugs in US this year (http://www.thehindubusinessline.com/companies/aurobindo-pharma-to-launch-20-drugs-in-us-this-year/article4791932.ece)
HYDERABAD, JUNE 7:
Aurobindo Pharma Ltd has lined up about 20 product launches in the US market in the current financial year which may improve its margins.
This was disclosed by Robert Cunard, Chief Executive Officer, Aurobindo Pharma, US, in the recent earnings call.
“A big question is what the Food and Drug Administration (FDA) does as far as the review time is concerned. But for FY 14, we expect 16 to 20 oral solid launches in the US market,” he said.
Of these, three products were expected from the Hyderabad-based company’s Aurolife facilities in the controlled substance area and one in the over the counter segment, he added.
“We do expect that some the molecules/key launches will be of little higher margins and continue to drive our growth,” he said.
The revenue to be generated on the new product side should be similar to what was witnessed last year which was about 14 per cent of the company’s total revenue in the US.
LOSSES IN EUROPE
On the improvement in the performance of European subsidiaries which were incurring losses in the last two years, N. Govindarajan, Managing Director, said there could be some improvement.
The subsidiaries in the UK and the Netherlands became profitable last year and Spain and Germany would become positive during the current financial year.
The performance in Italy and Portugal might take some more time.
“Over all, all European subsidiaries put together, we will be making a profit in the next year,” he said.
Aurobindo Pharma posted consolidated net profit of Rs 108.6 crore for the fourth quarter ended March 31, 2013, almost same as in the year-ago period.
Its scrip dropped 0.83 per cent on the BSE on Friday to close at Rs 184.15.
June 9th, 2013, 07:32 AM
Even as the State government sought to draw mileage over the Central government’s sanction of two prestigious National Investment and Manufacturing zones to rev up manufacturing sector and increase its share in the GDP, the ground reality is that the land acquisition itself is proving to be a challenging task.
The government has entrusted the responsibility for acquiring about 35,000 acres, 20,000 acres in Pileru of Chittoor and 15,000 acres at Zaheerabad in Medak for the proposed NIMZs to the Andhra Pradesh Industrial Infrastructure Corporation.
The APIIC officials, who surveyed the lands, estimated that about Rs. 2,500 crore would be required for land acquisition at Rs. 7 lakh per acre.
But the hitch is, the corporation which had not been getting returns from its earlier joint venture projects and its own lands locked up in unproductive deals did not have that kind of funds to acquire land for the manufacturing zones.
In a meeting with the Chief Minister N. Kiran Kumar Reddy recently, the APIIC officials suggested that the amount could be mobilised by selling valuable 202 acres of land in the State capital-- 158 acres of land in IT Park at Rayadurg and 49 acres in Khanammet-- that would fetch about Rs. 2,484 crore at about Rs.12 crore an acre.
But then, selling away those lands demarcated under the HMDA development project would have its own issues.
The APIIC, which has been exploring other models for land acquisition, presented few alternative proposals to the Chief Minister including acquiring land by paying the whole value for the land with government funds, or pay part of the amount and give share to the land owner in the Special Purpose Vehicle that will develop and manage the zones to bring down the land acquisition cost.
The third proposal is to bring in a co-developer so that he would bring part of the funds required for the land acquisition.
Sources said the Chief Minister had given three months time to consider all the proposals and come out with a report.
On the criticism that the APIIC was planning to sell away valuable lands at Hyderabad to set up manufacturing zone at Chittoor, officials said that it was not the APIIC but a high-level committee headed by the Chief Commissioner of Land Administration that alone would decide whether to sell/auction land or not under the new land allotment policy.
The corporation has not been getting returns from its earlier joint venture projects and its own lands have been locked up in unproductive deals:bash::bash::bash::bash::bash::bash::bash::bash:
June 11th, 2013, 09:26 AM
US-based Oaktree acquires Cogent Glass of Hyderabad (http://www.business-standard.com/article/companies/us-based-oaktree-acquires-cogent-glass-of-hyderabad-113061000879_1.html)
US-based investment firm Oaktree Capital Management has acquired about 60 per cent stake in city-based Cogent Glass Limited for an estimated enterprise value of Rs 200 crore. Jean Rollier of Oaktree has been appointed non-executive chairman of Cogent's board.
Simultaneously, SGD, a France-based manufacturer of glass packaging with operations in Europe, North and South America and China, has signed a cooperation agreement with Cogent that provides for technology sharing as well as marketing and management support.
Cogent was founded by a group of Indian promoters in 2010 to produce high quality moulded glass vials as well as tubular glass vials and ampoules for the pharmaceutical industry.
Oaktree Capital Management of Los Angeles is a leading investment firm managing over $80 billion in assets, with a global portfolio of companies and, in particular, with several investments in the packaging sector.
On the other hand, SGD is a worldwide leader in the production of glass bottles for pharmaceutical and cosmetics industries.
June 13th, 2013, 05:29 AM
Here is some good news. Procter & Gamble is all set to make operational one of its biggest manufacturing plants in Asia on the outskirts of Hyderabad. This is even as a few other multinationals are in the final stages of talks with the state government on buying land and setting up plants in Andhra Pradesh. These companies include Johnson & Johnson, Cadbury’s and Siemens.
P&G’s manufacturing plant is coming up at Kottur in Mahbubnagar district, about 36 kms from Hyderabad. Perhaps the biggest player in the beauty and grooming, houshold care, and health and well being segments, P&G India will be rolling out its products like Tide, Vicks, Ariel, Whisper, Olay, Gillette, Ambipur, Pampers, Pantene, Oral-B, Head & Shoulders, and Duracell etc, from the Kottur plant by April next year.
P&G purchased the land in July 2012 and construction on the manufacturing plant is on at full swing. “We have acquired about 170 acres of land, which will make this plant one of the biggest units in Asia. The land was purchased in July 2012 and so far we have invested Rs 370 crore in the project,” Madhav Rao, Associate Director – Product Supply, Procter & Gamble India, told TOI.
P&G has acquired 170 acres of land at Kottur in Mahbubnagar dist and the MNC has invested 370 cr in the project so far
MNCs like Johnson & Johnson, Cadbury’s and Siemens are also setting up shops in AP
P&G plant will be eligible for
100% stamp duty waiver and fixed power allocation Cheap land lures P&G to AP
Hyderabad: While the MNC was not forthcoming about the price they paid for buying the land, state government sources said the land was sold at around Rs 60 lakh per acre. P&G had earlier scouted for land in Chennai to set up the manufacturing plant, but finally settled for AP in view of the cheaper land cost the state offered.
“One factor which was attractive for the MNCs to set up shop in AP was the land price. Neighbouring states are offering land to these companies at anywhere between Rs 1 to Rs 2 crore per acre. We swung the deal our way by offering a competitive price,” said sources in the industries department. As per the state’s new industrial policy, the P&G plant will be eligible for 100% stamp duty and fixed power allocation. The company’s request for a 75% reimbursement on Value Added Tax (VAT) for five years is under consideration, official sources added.Madhav Rao said P&G’s Kottur plant will provide direct and indirect employment to about 2,000 people. It will be the 6th P&G manufacturing plant in India, the others being in Mandideep (Madhya Pradesh), Baddi (Himachal Pradesh), Bhiwadi (Rajasthan) and Goa. The other big plants of the Cincinnatibased MNC in Asia are located in China, Indonesia, Japan, South Korea, Thailand, Vietnam and the Philippines. “Our new plant in Hyderabad will be one of the largest production bases of P&G in Asia and the first phase of the plant is expected to begin production by April 2014,” Madhav Rao said.
MNCs in the final stages of setting shop in the state include Johnson & Johnson, which is seeking about 60 acres of land next to the P&G plant in Kottur for its fastmoving consumer goods plant, Siemens, which has sought about 25 acres of land in Visakhapatnam for setting up a plant for manufacturing electrical equipment, Pepsi Co which wants to set up a bottling plant at Sri City in Chittoor, and Cadbury’s which has sought 100 acres of land either in Toopran in Medak or Sri City in Chittoor district.
June 16th, 2013, 10:12 AM
Shriram Life eyeing Rs 500-cr biz from group insurance (http://www.thehindubusinessline.com/industry-and-economy/banking/shriram-life-eyeing-rs-500cr-biz-from-group-insurance/article4819954.ece)
MUMBAI, JUNE 16:
Private sector insurance firm Shriram Life is eyeing Rs 500-crore business from group insurance in the next three years.
“Group insurance segment, including group term, employees deposit linked insurance scheme and group gratuity, has a lot of potential.
“We have not done much in this segment and now we have decided to expand in group insurance mainly targeting small and medium enterprises,” Shriram Life Insurance Company Chief Executive Officer Manoj Kumar Jain told PTI here.
“We are targeting Rs 500-crore business from this segment in the next three years,” he added.
The Hyderabad-based company’s group insurance segment currently contributes Rs 150 crore.
The private insurer is also planning to add 40 new branches, especially in tier III and IV cities, and hire 300 people this fiscal as part of its expansion strategy.
“Our core business comes from tier III and IV cities, so we like to expand in these cities,” he said. The company, he said, is also planning to add 7,000-8,000 new agents.
The company, which gets 60 per cent of its business from South India, is planning to expand in North and West.
“We are planning to focus in Bihar, Chhattisgarh, Madhya Pradesh, Maharashtra, Jharkhand and Rajasthan. We want to expand our business in the North and West to 60 per cent from the current 40 per cent,” he added.
When asked about the policy guidelines introduced by the regulator, he said that it would not have any negative impact on the company’s profitability this fiscal. However, there might be some impact in FY15, he added.
June 19th, 2013, 01:05 AM
Karvy eyes Rs 100 crore with maiden hedge fund (http://www.business-standard.com/article/markets/karvy-eyes-rs-100-crore-with-maiden-hedge-fund-113061800632_1.html)
The fund will have a typical holding period of 10 days, a minimum of two and a maximum of 60 days
Hyderabad-based Karvy Group has launched its first hedge fund, and aims to collect Rs 100 crore from a mix of high net worth individuals and institutions.
The fund will have a typical holding period of 10 days, a minimum of two and a maximum of 60 days, according to Swapnil Pawar, chief investment officer of Karvy Capital, the asset management arm of the Karvy group.
The fund will look to generate positive returns, irrespective of the market conditions, through use of multiple strategies, which will also make use of derivative instruments that make money by betting on market direction, according to a press release.
The fund will also look to leverage behavioral finance, a branch of finance that uses behavioral theory and psychology to explain stock market activity, according to Pawar.
“Our approach draws a lot from the principles of behavioral finance. We are continuously looking for market inefficiencies in the form of predictabilities. When we spot them, we build systematic strategies to use them to deliver absolute returns. By diversifying our investments across a large number of small trades across multiple strategies, we are able to contain risk on the one hand and achieve diverse sources of returns on the other,” he said.
The fund is called ‘Systematic Edge Fund’ and will be open-ended, which means that investors would be free to move in and out of the fund unlike closed-ended funds, which lock in investments for a set period.
The fund has been launched under the Securities and Exchange Board of India’s alternative investment funds regulations, which first created a framework for regulating hedge funds in March 2012. There are a total of 10 funds, which have received Sebi approval under Category III, the segment under which hedge funds are regulated, including Karvy, according to the Sebi website. The others include Ambit, India Infoline and Motilal Oswal.
Globally, the hedge fund industry has managed assets worth $2 trillion at its peak in 2008, according to a KPMG and the Alternative Investment Management Association (AIMA) report on the hedge fund industry released last year. Recent estimates suggest the hedge fund industry manages in excess of $2 trillion.
AIMA is a forum for alternative investment managers.
The report notes that the source for the new money which has come in to the global hedge fund industry since then also include the Asia-Pacific region (of which India is a part).
“New money injected into the industry since 2008 has come primarily from North America, Asia-Pacific and the Middle East, while allocations from the European Union have held steady and those from Switzerland have declined," said the report issued in 2012 and authored by KPMG partners Robert Mirsky and Anthony Cowell, alongwith Andrew Baker, the chief executive officer of AIMA.