Emirates Group Announces 2021-22 Financial Results

* Group records annual loss of AED 3.8 billion (US$ 1.0 billion) due to the ongoing COVID-19 pandemic impact, a significant improvement from last year with dnata returning to profitability

* Group revenue of AED 66.2 billion (US$ 18.1 billion) increased by 86% with strong customer demand as worldwide travel restrictions ease

* Ends year with an improved and strong cash balance of AED 25.8 billion (US$ 7.0 billion)

* Emirates reports a significantly reduced loss of AED 3.9 billion (US$ 1.1 billion) compared with AED 20.3 billion (US$ 5.5 billion) loss in the previous year

* Revenue up 91% to AED 59.2 billion (US$ 16.1 billion), as airline expanded global capacity and reinstated more passenger flights

* Airline capacity increased by 47% to 36.4 billion ATKMs, with final five A380 aircraft added to its fleet

* dnata reports a profit of AED 110 million (US$ 30 million), a solid turnaround from its AED 1.8 billion (US$ 496 million) loss in the previous year

* Revenue increased by 54% to AED 8.6 billion (US$ 2.3 billion), reflecting recovery from the pandemic across all business divisions in the UAE and worldwide 

* Expands global footprint with the takeover of easyJet’s global onboard retail services and the opening of new cargo, airport hospitality and retail facilities

The Emirates Group today released its 2021-22 Annual Report which shows strong recovery across its businesses. dnata returns to profitability, and significant revenue improvements were reported across both Emirates and dnata as the Group rebuilt its air transport and travel-related operations which were previously cut-back or curtailed by the COVID-19 pandemic.

For the financial year ended 31 March 2022, the Emirates Group posted a loss of AED 3.8 billion (US$ 1.0 billion) compared with an AED 22.1 billion (US$ 6.0 billion) loss for last year. The Group’s revenue was AED 66.2 billion (US$ 18.1 billion), an increase of 86% over last year’s results. The Group’s cash balance was AED 25.8 billion (US$ 7.0 billion), up 30% from last year mainly due to strong demand across its core business divisions and markets, triggered by the easing of pandemic-related restrictions.  

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said: “This year, we focussed on restoring our operations quickly and safely wherever pandemic-related restrictions eased across our markets. Business recovery picked up pace particularly in the second half of the year. Robust customer demand drove a huge improvement in our financial performance compared to our unprecedented losses of last year and we built up our strong cash balance.

“The health and safety of our people and customers remained a key priority as the world navigated its second full year of the pandemic. Across Emirates and dnata, we responded to dynamic market conditions with agility, and introduced innovative products and services to meet our customers’ needs and provide them with the best possible experience.

“2021-22 was also a significant year as the UAE marked its 50th anniversary and hosted the world at Expo 2020 Dubai which generated increased global engagement and visitation to the UAE. The Emirates Group was proud to play our part in contributing to the Expo’s success and to the UAE’s jubilee events.”

In 2021-22, Emirates received a further capital injection of AED 3.5 billion (US$ 954 million) from its ultimate shareholder, the Government of Dubai, and the Group tapped on various industry support programmes and availed a total relief of nearly AED 0.8 billion in 2021-22.

As Emirates and dnata ramped up operations, employees previously on furlough or made redundant were recalled and rehired, and new recruitment drives were held to replenish the Group’s talent pool and boost its future capabilities. As a result, the Group’s total workforce increased by 13% to 85,219 employees, representing over 160 different nationalities.

In 2021-22, the Group collectively invested AED 7.9 billion (US$ 2.2 billion) in new aircraft and facilities, and the latest technologies to position the business for recovery and future growth. It also continued to progress its environmental strategy focussed on reducing carbon emissions, consuming resources responsibly, and conserving wildlife and habitats. During the year, the Group supported community, humanitarian and philanthropic initiatives in its various markets, as well as innovation incubators, and other programmes that nurture future solutions for industry growth.

Sheikh Ahmed said: “For the Emirates Group, 2021-22 was largely about recovery, after the toughest year in our Group’s history. It’s not just about restoring our capacity, but also augmenting our future capabilities as we rebuild. Our aim is to build back better and stronger, so that we can deliver even better experiences to our customers and offer more support to the communities we serve.

“We expect the Group to return to profitability in 2022-23, and are working hard to hit our targets, while keeping a close watch on headwinds such as high fuel prices, inflation, new COVID-19 variants, and political and economic uncertainty.

“Our steady investments in infrastructure, technology, people, and partnerships, will continue to give us the ability and advantage in delivering industry-leading products and value to our customers. As Dubai and the UAE move ahead with its strategy for the next 50 years and beyond, the Emirates Group is well positioned to play our role in contributing to economic growth, facilitating global engagement, and making a positive impact on people and communities.”

Emirates performance

Emirates’ total passenger and cargo capacity increased by 47% to 36.4 billion ATKMs in 2021-22, as the airline continued to reinstate passenger services across its network in line with the lifting of pandemic-related flight and travel restrictions. 

From 120 destinations at the start of the financial year, to increased operations and capacity growth across over 140 destinations by 31 March 2022, Emirates was able to respond dynamically to serve customer demand wherever opportunities arose, thanks to the resilience of its people and business model. In July, the airline launched a new route to Miami, bringing its total passenger gateways in the US to 12.

To serve the strong rebound in travel demand, Emirates deployed its flagship A380 aircraft to even more cities during the year, bringing its A380 network to 29 destinations as of 31 March 2022.

Helping travellers access even more destinations, in 2021-22, Emirates reinforced its strategic partnerships with Qantas and flydubai, and expanded its interline and codeshare partnerships across Europe, the Americas, Africa and Asia including with: Aeromar, airBaltic, Airlink, Azul, Cemair, Garuda Indonesia, Gulf Air, Maldivian, South African Airways and TAP Air Portugal. Emirates also signed agreements and launched initiatives with tourism partners in various destinations to support travel and tourism recovery.

Emirates received its final five new A380 aircraft during the financial year, all equipped with its latest cabin interiors including Premium Economy seats. It also phased out 2 older aircraft comprising of 1 Boeing 777-300ER and 1 Freighter, leaving its total fleet count at 262 at the end of March. Emirates’ average fleet age remains at a youthful 8.2 years. 

Emirates’ order book of 197 aircraft remains unchanged at this time. The airline is firmly committed to its long-standing strategy of operating a modern and efficient fleet, which underscores its “Fly Better” brand promise, as young aircraft are better for the environment, better for operations, and better for customers.

With significantly enhanced capacity deployment across most markets, Emirates’ total revenue for the financial year increased 91% to AED 59.2 billion (US$ 16.1 billion). Currency fluctuations this year impacted the airline’s profitability negatively by AED 348 million (US$ 95 million).

Total operating costs increased by 30% from last financial year. Cost of ownership (depreciation and amortisation) and fuel cost were the two biggest cost components for the airline in 2021-22, followed by employee cost. Fuel accounted for 23% of operating costs compared to 14% in 2020-21. The airline’s fuel bill more than doubled to AED 13.9 billion (US$ 3.8 billion) compared to the previous year, driven by a higher uplift of 66% in line with capacity expansion and a higher average fuel price which was up by 75%.

With the removal of pandemic-related flight and travel restrictions globally, the airline managed to substantially improve its financial results and reported a loss of AED 3.9 billion (US$ 1.1 billion) after last year’s AED 20.3 billion (US$ 5.5 billion) loss, and a loss margin of 6.6%, significantly improved compared to 65.6% last year.

Emirates carried 19.6 million passengers (up by 199%) in 2021-22, with seat capacity up by 150%. The airline reports a Passenger Seat Factor of 58.6%, compared with last year’s passenger seat factor of 44.3%; and a 10% decline in passenger yield to 35.1 fils (9.6 US cents) per Revenue Passenger Kilometre (RPKM), due to the change in route mix, fares and currency. Seat load factor and yield results cannot be compared against the previous year’s performance due to the ongoing unusual pandemic situation.

Emirates continued to invest in its products and services to deliver ever better customer experiences. This year, it announced a major retrofit programme to equip 120 of its 777 and A380 aircraft with its new Premium Economy seats and the latest cabin interiors.

It also accelerated digital initiatives to provide customers with smoother and safer journeys, from the quick and secure verification of COVID-19 travel documents, to more biometrics and contactless touchpoints at its Dubai hub.

Emirates continued to lead the industry with initiatives that provide customer assurance as travel restrictions eased and more people made travel plans. It extended its generous rebooking waivers and complimentary COVID-19 medical cover for all customers; and introduced new ways for Emirates Skywards members to earn Miles while extending the expiry of miles and tier status. 

In this 2nd pandemic year, Emirates SkyCargo once again put in a stellar performance and contributed to 40% of the airline’s total transport revenue through its ability to respond rapidly to changing demand patterns in a distorted global marketplace.

Emirates SkyCargo maintained its edge in the global airfreight industry by focusing its customers, bringing innovative solutions to the market, and leveraging its fleet and network capabilities.

Rebuilding its network and capacity, the cargo division intelligently deployed its freighter fleet and belly-hold capacity, to meet customer needs. By 30 June 2021, it had restored services to over 90% of its pre-pandemic network.

During the year, Emirates SkyCargo continued to play an important role in getting COVID-19 vaccines and other medical supplies to communities around the world, and keeping trade lanes open for food supplies, e-commerce and other essential goods. In June 2021, it invested to scale up its pharma cool chain infrastructure in Dubai and by March 2022, Emirates SkyCargo had transported 1 billion doses of COVID-19 vaccines.

At the Dubai Airshow 2021, Emirates announced a US$ 1 billion investment to acquire 2 new Boeing 777 freighters and convert 4 existing 777-300ER aircraft into freighters.

With steady and strong air freight demand throughout the year, Emirates’ cargo division reported a new record revenue of AED 21.7 billion (US$ 5.9 billion), an increase of 27% over last year.

Freight yield per Freight Tonne Kilometre (FTKM) decreased by 3% as more cargo capacity returned to the global market, but generally remained at high levels compared to the pandemic marketplace due to steady and strong demand.

Tonnage carried increased by 14% to reach 2.1 million tonnes, due to the growth in available bellyhold capacity for the entire year with the reinstatement of more passenger services. At the end of 2021-22, Emirates’ SkyCargo’s total freighter fleet stood at 10 Boeing 777Fs.

Emirates’ hotels portfolio doubled revenue over last year to AED 602 million (US$ 164 million) as it re-opened more facilities to serve the upswing in tourism traffic and the gradual recovery of the meetings and conferences industry.   

During the year, Emirates successfully restructured and extended various aircraft leases. The support from aviation lessors and financing partners during these challenging times reflect the financial community’s confidence in Emirates’ business model, and its mid to longer term prospects.

In addition to the AED 9.7 billion (US$ 2.6 billion) financing that was raised for aircraft and general corporate purposes in 2021-22, Emirates has already received committed offers to finance two aircraft deliveries due in 2022-23.

Emirates closed the financial year with solid cash assets of AED 20.9 billion (US$ 5.7 billion), 38% higher compared to 31 March 2021.   

dnata performance

Recovery from the pandemic was felt across all dnata businesses, and in 2021-22 dnata returned to profitability with a profit of AED 110 million (US$ 30 million).

With growing flight and travel activity across the world, dnata's total revenue increased by 54% to AED 8.6 billion (US$ 2.3 billion). dnata’s international business accounts for 62% of its revenue.  

dnata continued to lay the foundations for future growth with investments in 2021-22 amounting to AED 370 million (US$ 101 million).

During the year, dnata invested significantly in its cargo handling capabilities. It expanded existing facilities in Sydney, Australia; opened a state-of-the-art cargo centre at London Heathrow airport; and announced a fully automated cargo centre to be built at ‘dnata Cargo City’ at Amsterdam Schiphol Airport. It also introduced an advanced “OneCargo” system which digitises and automates business and operational functions at its Iraq cargo operations, with plans to roll out the system across its global cargo network.

In 2021-22, dnata’s operating costs increased by 14% to AED 8.4 billion (US$ 2.3 billion), in line with expanded operations in its Airport Operations, Catering and Travel divisions across the world.

dnata’s cash balance improved by AED 208 million to AED 4.9 billion (US$ 1.3 billion). Net cash used in financing activities, primarily payments for loans and leases, amounted to AED 745 million (US$ 203 million), while the business utilised net cash of AED 246 million (US$ 67 million) in essential investing activities. The business saw a positive operating cash flow of AED 1.2 billion (US$ 332 million) in 2021-22, a reflection of the substantial improvements in revenues.

Revenue from dnata’s Airport Operations, including ground and cargo handling increased to AED 5.7 billion (US$ 1.6 billion).

The number of aircraft turns handled by dnata globally grew by 82% to 527,501, cargo handled increased by 10% to 3.0 million tonnes, reflecting the increase in flight activity across the globe as dnata’s customers re-started their operations wherever market restrictions on flights and travel were lifted.

During 2021-22, dnata expanded its global airport operations footprint into Africa. It signed a concession agreement with The Government of Zanzibar, where dnata will oversee the operations of the island’s newly-built international terminal with its partners, including Emirates Leisure Retail (ELR) who will partner with MMI as master concessionaire for all food and beverage, duty free and commercial outlets at the terminal.

marhaba, dnata’s airport hospitality brand, marked its 30th year of operations with the launch of its signature meet and greet services at four of Australia’s major airports, a new lounge in Zurich Airport, and a re-designed experience at its flagship lounge at Dubai International.

dnata’s Catering business accounted for AED 1.7 billion (US$ 455 million) of dnata’s revenue, up by 60%. The inflight catering business uplifted 39.9 million meals to airline customers, more than double the number of meals from last year, as its airline customers across the world restored their flight operations.

Significant customer wins during the year include BA CityFlyer, which led to dnata Catering launching operations at London City Airport; and the global inflight retail services contract for easyJet where dnata’s team of inflight retail experts will develop and manage bespoke onboard retail programmes and solutions for the airline.

It also saw significant activity in Australia. As the country re-opened its borders to international travellers, dnata worked closely with airline customers to support their resumption of flight operations. dnata Catering also continued to grow its retail food business with ready-made meals developed by Snapfresh Australia launched in Aldi and Costco stores nationwide.

Revenue from dnata’s Travel Services division has significantly grown by 434% to AED 694 million (US$ 189 million). The reported total transaction value (TTV) of travel services sold increased by 912% to AED 2.3 billion (US$ 632 million), a dramatic reversal from last year. These increases reflect last year’s abnormal situation where the business saw high levels of COVID-19-related booking cancellations.

During the year, dnata introduced several new products and services in the UAE, capitalising on its market expertise, Dubai’s open borders for international travel, the city’s hosting of Expo 2020 as well as other major conferences and sporting events.

For its corporate travel customers, dnata partnered with ExpensePoint to offer an advanced expense reporting solution; renewed a partnership with one of the world’s largest VAT reclaim specialists that will bring additional saving opportunities for duty travel claims; and implemented hybrid meetings and events solutions to provide customers a sustainable alternative to hosting corporate engagements during lockdown.

In the UK, dnata’s Travel Republic brand introduced a new ‘Secure Trust Account’ for package holiday customers that guarantees prompt refunds for customers who have to cancel their flight-inclusive package holiday, as funds are kept secure in a separate account.

dnata also launched its Gold Medal brand in the Kingdom of Saudi Arabia this year, offering its extensive portfolio of travel products to independent travel agents.

The full 2021-22 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at: www.theemiratesgroup.com/annualreport

US$ figures are converted at 1US$ = 3.67AED and are based on the AED figures rounded off in millions.

Aditya Birla Capital Reports Strong Results For The Year Ended March 31, 2022

Aditya Birla Capital Limited (“The Company”) announced its audited financial results for the quarter and year ended March 31, 2022.

In FY2021-22, The Consolidated Revenue1 of the Company grew 16% year on year to Rs. 23,633 Crore. The consolidated profit after tax (after minority interest) grew 51% year on year, to Rs. 1,706 Crore, the highest ever recorded by the Company. The reported consolidated PAT includes a net gain of Rs. 161 Crore from the sale of ~1% stake of the Company’s 51% stake in ABSLAMC, through its IPO in October 2021.

During Q4 FY2021-22, the consolidated revenue grew 18% year on year to Rs. 6,962 Crore and profit after tax increased by 20% year on year to Rs. 450 Crore.

The Company’s retailisation strategy has led to the active customer base growing to a significant        ~ 35 million, a 36% year on year growth. The scale achieved by the Company’s subsidiaries is evident, with overall AUM across asset management, life insurance and health insurance businesses growing 10% year on year, to Rs. 3,70,608 Crore, making it one of the largest fund managers in the country. The overall lending book (NBFC and Housing Finance) grew 11% year on year, to Rs. 67,189 Crore, making it a lending portfolio of scale. The gross premium (across Life and Health Insurance) grew 25% year on year to Rs. 13,867 Crore, reflecting the scale in the insurance businesses.

Mr Ajay Srinivasan, Chief Executive, Aditya Birla Capital Limited, said “The Company has built an integrated platform with high quality, significant scale and a retail franchise of ~ 35 million active customers. We have tripled our profits over the last 5 years and nearly doubled our profit over the last two years, in spite of the several external challenges. Our integrated and diversified model backed by our motivated teams have helped us deliver consistent growth in profitability across economic cycles and record results this fiscal. The Company is well placed to capitalise on its strong franchise and the future opportunities in the financial services space” 

The performance highlights of the key subsidiaries of Aditya Birla Capital Limited are:

Lending:

Overall lending book (NBFC and Housing) grew 11% year on year, to Rs. 67,185 Crore

Strong focus on retailisation, with total active customer base at over 3.7 million

Retail, SME and HNI segments now account for 68% of the total lending book

Strong funding access and amongst top decile in term of cost of borrowing in the industry

Raised over Rs. 15,900 Crore of long-term funds in FY22

NBFC business:

o    Overall loan book grew 13% year on year to Rs. 55,180 Crore while Retail, SME and HNI loan book grew 25% year on year, leading to its contribution in the overall book being the highest ever at 62% as on March 22, vis-à-vis 56% in the previous year

o    Strong momentum in gross disbursement at Rs. 9,891 Crore in Q4 FY22, up 51% year on year and 49% quarter on quarter; in line with the business’s focus, Retail, SME and HNI contributed 65% of Q4 FY22 gross disbursements 

o    Highest ever net interest margin at 6.25%, expanding by 91 bps year on year, led by growth in retail and SME segments and lower cost of borrowing

o    Strong improvement in quality of assets with Gross stage 3 reduced by 79 bps quarter on quarter to 3.1% from 3.9% in the previous quarter

o    Profit before tax at Rs. 1,487 Crore in FY22, reflecting a growth of 44% year on year

o    Strong growth in return on assets at 2.3%, compared to 1.7% a year ago

Housing Finance business:

o    Loan book up at Rs.12,005 Crore, with 94% retail mix

o    Strong growth in gross disbursal at Rs. 1,310 Crore in Q4 FY22, with a year on year growth of 16%; in line with the business focus, the affordable housing segment contributed 47% of disbursements

o    Affordable housing book grew 39% to Rs. 4,510 Crore leading to increase in affordable mix at 38%, against 27% in the previous year 

o    Highest ever net interest margin at 4.24%, expanded by 101 bps, year on year

o    Improvement in quality of assets with Gross stage 3 reduced by 10 bps quarter on quarter to 2.02%

o    Profit before tax at Rs. 253 Crore, reflecting strong growth of 44% over the previous year

o    Strong return on assets at 1.90%, compared to 1.25% in the previous year

Asset Management:

Strong growth in assets under management with annual average AUM (AAUM) at Rs. 3,07,409 Crore AUM, growing by 9% year on year 

Overall domestic annual average assets under management (AAUM) grew by 10% year on year, to Rs. 2,95,805 Crore and domestic equity AAUM grew by 25% year on year, to Rs. 1,20,993 Crore

In line with the ABSLAMC’s focus, domestic equity mix expanded to 41% of AUM, compared to 36% in the previous year with continued growth in SIP flows and folios

Continued focus on building retail customer franchise with  a total of 7.9 million folios; added ~ 1.3 million folios in FY22 alone

With our focus on growing alternate asset segment, passive AUM crossed Rs. 9,000 Crore

Profit before tax at Rs. 895 Crore, reflecting 29% year on year growth

PBT/AAUM moved up to 30.6 bps, from 28.5 bps in the previous year

Insurance:

Total gross written premium of life insurance and health insurance grew 25% year on year, to  Rs. 13,867 Crore in FY22

Life Insurance business:

o    Individual First Year Premium (FYP) grew 14% year on year to Rs. 2,212 Crore

o    Group business grew 30% year on year to Rs. 3,223 Crore

o    Renewal premium grew 24% year on year, to Rs. 6,475 Crore in FY22, out of which 73% was collected digitally

o    Total gross premium up 24% year on year, to 12,140 Crore

o    Consistent improvement in 13th month persistency to 85% compared to 82% a year ago

o    Delivered highest ever net VNB margin at 15% in FY22, expanded by a significant 439 bps year on year

o    Sharp reduction in Opex to premium ratio from 13.9% in FY21 to 12.7% in FY22

o    Profit before tax grew 15% year on year, to Rs. 175 Crore

o    Embedded value at Rs. 7,609 Crore, growing by 18% year on year

Health Insurance business:

o    Gross written premium at Rs. 1,727 Crore; grew 33% year on year, with retail and rural contributing 76% of total business

o    Achieved break even in Q4 FY22 (excluding COVID claims), in line with guidance and well ahead of the industry

o    Business now covering 19 million lives, out of which over 14 million lives are through micro and byte size products

o    Business continues to build scale with focus on expenses, leading to improvement in combined ratio (normalized for COVID claims), at 109% vs. 120% in the previous year

o    Robust digital enablement, with 98% policies issued digitally

Other businesses:

·         Profit before tax for the other financial services businesses under ABC grew 46% year on year to Rs. 190 Crore, from Rs. 130 Crore in the previous year reflecting the focus on portfolio optimisation

General Insurance broking profit before tax grew 22% year on year to an all time high of Rs. 86 Crore

Stressed assets platform profit before tax grew 43% year on year, to Rs. 52 Crore

o   Stock and Securities broking business achieved highest ever profit before tax, grew 59% year on year, to Rs. 36 Crore

Going forward:

·         Focus on maximising value of active customer base of 35 million while looking to continue to drive customer acquisition at scale through partnerships and organically

·         Leveraging technology and analytics to grow revenue per customer, improve customer experience, optimise costs, and build robust and scalable systems

New Range Rover Sport Revealed With Epic Spillway Climb In Iceland

* New Range Rover Sport luxury performance SUV avoided a perilous drop and defied a torrent of water to make its global premiere with a world-first demonstration of dynamic capability

* Dramatic debut: New Range Rover Sport has redefined sporting luxury, completing a challenging ascent of a 193 metre dam spillway against a torrent of water flowing at 750 tonnes per minute

* Challenge accepted: Luxury performance SUV tackled the Karahnjukar Dam after conquering Icelandic volcanic landscape, rock climbs and flooded tunnels. Watch the film: https://youtu.be/xpUhMIVUcZk

* Dynamic capability: James Bond stunt driver Jessica Hawkins took the wheel, risking a sheer drop at the base of the spillway to reach the summit in a unique showcase of dynamic capability

* Dynamic luxury: New Range Rover Sport combines dramatic modernity and distinctive character with electrified performance

* Modernist philosophy: Reductive design approach elevates Range Rover Sport DNA with muscular stance and taut surfaces that communicate power and agility

* Powertrains: Six-cylinder 48 V mild-hybrid Ingenium diesel engine delivers customary Range Rover Sport performance and the pure-electric propulsion will be available in 2024

* Pioneering drive: Dynamic Air Suspension with switchable volume air springs – a Range Rover first – and twin-valve active dampers provide new levels of agility, control and composure

* Seamless connectivity: 33.27 cm (13.1) floating Pivi Pro haptic touchscreen is complemented by 34.80 cm (13.7) Interactive Driver Display

The New Range Rover Sport has made its global premiere with a dramatic world-first climb up a flooded dam spillway in Iceland.

The epic ascent saw New Range Rover Sport resist the surging torrent of water flowing down the ramp of the Karahnjukar Dam – the biggest of its kind in the world – at a rate of 750 tonnes per minute. A loss of traction risked plunging down the perilous 90 metre drop at the base of the spillway to the valley floor below.

The third generation of Land Rover’s luxury performance SUV is the most desirable, technologically advanced and capable yet, mixing an imposing road presence with instinctive driving responses using the most advanced combination of chassis technologies ever fitted to a Land Rover.

The successful spillway ascent was screened for the first time at an exclusive launch event at Jaguar Land Rover’s Advanced Product Creation Centre in Gaydon, UK. Official James Bond stunt driver Jessica Hawkins was behind the wheel as the New Range Rover Sport demonstrated its grip, traction, performance and composure, completing the latest in a series of challenges for Land Rover’s luxury performance SUV. Previous feats include a record-setting hill-climb at Pikes Peak, a first recorded crossing of the ‘Empty Quarter’ desert in the Arabian Peninsula and a first ascent of the 999 steps to Heaven’s Gate in China, in 2018.

Nick Collins, Executive Director Vehicle Programmes, Jaguar Land Rover, said: “Land Rover’s pioneering MLA-Flex architecture and the latest chassis systems come together to deliver the highest levels of dynamism we’ve ever seen on Range Rover Sport. Integrated Chassis Control governs the comprehensive suite of innovations, co-ordinating everything from the latest switchable-volume air suspension system to our Dynamic Response Pro electronic active roll control. The result is the most engaging and thrilling Range Rover Sport ever.”

The spillway climb was the final obstacle on the drive from the valley floor to the summit of the dam, taking in a flooded riverbed, long steep tunnels and the 40 degree rocky dam wall itself. The 294 metre stretch of spillway had water furiously cascading down its 90 metre drop, to provide the ultimate test of traction and driver confidence.

Jessica Hawkins, Stunt Driver, said: “The power of the water surging down the spillway was breath-taking from the side of the valley. Driving into it knowing that a 90 metre drop was waiting behind me at the bottom of the slope, if things went wrong, made this the most challenging drive I’ve ever undertaken. Despite the steep slope and rushing water, New Range Rover Sport made it look easy. Its traction, composure and commanding visibility inspired so much confidence I was able to enjoy the whole experience.”

New Range Rover Sport is based on Land Rover’s advanced, flexible Modular Longitudinal Architecture (MLA-Flex), which provides the perfect foundations for its superior dynamics and peerless refinement.

Assertive modern design

Dramatic proportions accentuate the Range Rover Sport’s emotive design with taut surfacing, a dynamic stance and instantly recognisable profile, perfectly accentuated by its muscular proportions – giving the impression the vehicle is poised and ready.

Prof Gerry McGovern OBE, Chief Creative Officer, Jaguar Land Rover, said: ““Our latest Range Rover Sport embraces fully our modernist approach of vehicle design whilst amplifying its unquestionable sporting and confident character”

New Range Rover Sport’s reductive design extends to its all-new interior. Featuring a new cockpit-like interpretation of the trademark Range Rover Command Driving Position, the latest convenience and driver assistance technologies and finest materials combine to ensure every drive is an experience to savour. 

Engaging on every journey

A comprehensive dynamic toolkit combines for the most engaging and dynamically capable driving experience, based around the inherent strength of the flexible mixed-metal MLA body architecture. A suite of technologies governed by Land Rover’s Integrated Chassis Control system work in harmony to provide instinctive responses and agility.

Dynamic Air Suspension introduces switchable-volume air springs for the first time and is fitted to every New Range Rover Sport. The intelligent system enhances the bandwidth of the suspension by varying the pressure within the airbags to deliver traditional Range Rover comfort with the dynamic handling expected from the Range Rover Sport.

Epitome of sporting luxury

New Range Rover Sport makes every journey an event and can be honed to be as dynamically engaging as the driver desires, while also offering enhanced levels of refinement and comfort. This ability to combine dual characters is made possible by a comprehensive set of technologies.

The advanced Cabin Air Purification Pro system creates and maintains the optimum interior environment for wellbeing and alertness, while a selection of powerful Meridian audio options is available. The Meridian Signature Sound System is the most advanced and powerful audio system ever fitted to a Range Rover Sport, with up to 29 speakers including four headrest speakers to create personal sound zones for the four main cabin occupants. Next-generation Active Noise Cancellation1 plays its part here, reducing the number of external sounds entering the cabin for ultimate cabin refinement.

Seamless technology

Land Rover’s powerful Electrical Vehicle Architecture (EVA 2.0) supports an ecosystem of seamless connected technologies, including Software Over The Air (SOTA). The clever technology provides remote updates for 63 electronic modules, ensuring New Range Rover Sport remains at the cutting edge of innovation, modern technology and services throughout its life.

The award-winning Pivi Pro infotainment features a high resolution floating 33.27 cm (13.1) haptic touchscreen positioned at the centre of the modernist dashboard. Controlling everything from navigation to media and vehicle settings, it learns the user’s habits and intelligently personalises the onboard experience, becoming a truly intuitive personal assistant.

Peerless capability

New Range Rover Sport is the most dynamically capable version of Land Rover’s luxury performance SUV and the most competent away from paved roads, using the latest Intelligent All-Wheel Drive (iAWD) and integrating Land Rover’s latest all-terrain innovations and technologies to ensure its breadth of dynamic capability.

Adaptive Off-Road Cruise Control makes its debut on New Range Rover Sport and helps drivers navigate tricky terrain by maintaining steady progress according to the ground conditions. Drivers can select one of four comfort settings and the system intelligently adjusts the speed, allowing the driver to focus on steering the vehicle. 

New Range Rover Sport will be exclusively produced at the Solihull Manufacturing Facility in the UK, the historic home of Range Rover production, alongside New Range Rover.

New Viral Snapchat Lens Has 1.3 Billion Snapchatters In (Faux) Tears

There’s a new Snapchat Lens that’s blowing up right now across Snapchat, Spotlight (Snapchat’s in-app entertainment platform for UGC content) and other platforms. The Crying Lens lets you plant tears on your face - or your friends’ – and people can’t get enough. 

Since launching on Friday, over 180 million Snapchatters have engaged with our new Crying Lens 1.3 billion times. The Crying Lens has also gone viral off of Snapchat, with over 100 million views on other platforms. Would you be interested in covering?

On Spotlight:

David Dobrik can’t and won’t stop using the Lens on his friends – unbeknownst to them – and asking “what’s wrong?” or “are you okay?”; cue laughter 

King Kumar is all of us when the waiter walks in your direction with food, but ends up serving the table next to you 

Jack Doherty posted a hilarious video of his friends crying because they love him so much 

Other platforms:

Naser Al Azzeh (Jordindian) trying the filter on friends at a house party 

Kylie Jenner pokes fun at her and her sisters on the Met Gala red carpet 

Kim Vega’s boyfriend doing chores make him simply, upset 

Fullmhouse perfectly reveals our internal thoughts while working out 

The Lens is available globally on iOS and Android on Snapchat , 

HCL Foundation Kicks Off Pan India Symposium ‘CSR For HCL Grant Edition VIII In Bengaluru

* HCL Foundation has already invested INR 900 crores in CSR in the last 11 years 

* Launches HCL Grant Edition VIII with a commitment of INR 16.5 crores 

HCL Foundation (HCLF), the CSR (corporate social responsibility) arm of HCL Technologies, hosted the first pan India Symposium for HCL Grant Edition VIII in Bengaluru for NGOs in Karnataka and the neighboring states at the Christ University.  

HCL Foundation strongly believes in the power of grassroots empowerment. The HCL Grant Symposium Series – ‘CSR for Nation Building’ is one such opportunity that enables us to engage, co-learn, and co-create ideas for sustained nation-building, from the ground-up. 

The daylong event comprised a panel discussion with local NGO representatives and civil society experts on the theme ‘Creating Impact Along with Compliances Under CSR.’ A total of 200 NGOs were present at the event with a participation of over 350 people, representing many parts of the region.  

There was an insightful panel discussion and a fireside chat with eminent speakers- Ms. Nidhi Pundhir, Director, HCL Foundation; Mr. Srikrishna Sridhar Murthy (Krishna), Co-founder and CEO, Sattva; Mr. Rishabh Lalani, Independent Consultant; Mr. Rohit Bahadur, Partner Social and Sustainability Advisory, Grant Thornton and Mr. Nikhil Pant, Chief Executive Officer, REACHA who also moderated the panel. 

Mr. Vijay Mallya, EVP & Global Head Delivery, Financial Services, HCL Technologies, spoke about the role of creating meaningful partnerships not just for business but also for social impact. 

Ms. Nidhi Pundhir, Director, HCL Foundation, set the context by presenting an overview of the HCL Foundation and its community development journey in India. She also introduced HCL Grant, a key project for supporting NGOs doing exemplary work in rural development.  

The symposium comprised several sessions such as a Masterclass/workshop on CSR Law and New Amendment by Mr. Bhomik Shah, CEO and Founder, CSRBox and NGOBox, and Mr. Nikhil Pant, Chief Executive Officer, REACHA. The symposium also had a Workshop/Masterclass by Dr. Usha Manjunath, Director & Professor, IIHMR (Institute of Health Management Research), Bangalore on Programme Management for Non-Profits. A motivational talk on reshaping social work in the post-Covid world was conducted by Mr. Ravi Sreedharan, Founder, ISDM (Indian School of Development Management). 

This is the second time that the HCL Foundation has conducted a symposium in Bengaluru. The first symposium in 2019 received an overwhelming response from NGOs in the state and the participation has been more encouraging this year.  

SAAHAS, a Bengaluru-based NGO, was HCL Grant Winner in 2020 for its project on “Sustainable Waste Management through Community-Owned Rural Resource Recovery Systems,” which is being implemented across four districts – Udupi, Dakshina Kannada, Ballari, and Ramanagara of Karnataka. 

Through this Symposium, HCL Foundation reached out to the NGOs on CSR mandate, challenges, and opportunities in the local area development, Proposal Writing, and Project Management and encouraged them to apply for the HCL Grant 2022. The state has many good NGOs working in the field of Education, Health, and Environment, which could benefit from the symposium.  

The HCL Grant Pan-India Symposiums is an initiative by the HCL Foundation to bring together NGOs, government, corporates, and policymakers from across India on one platform to interact and develop regional as well as a sectoral understanding of CSR (corporate social responsibility) and deliberate upon how to contribute toward nation-building. It will also have CSR & sector experts, academicians, HCL Grant recipient NGOs, and other development sector practitioners on panel to meet and share their experiences. 

HCL Grant Symposiums, being conducted across 10 States & UTs of India this year, aims to invite all interested development sector professionals, non-profits, social purpose organizations and academic institutions to join for the symposiums at various locations.  

Through these symposiums, HCL Foundation aims to inform NGOs about HCL Grant, one of the most coveted institutionalized grants available in India, which identifies NGOs doing path-breaking work in rural development through an independent, robust, and democratic process. 

This is the eighth consecutive edition of the HCL Grant in which grants will be awarded in the categories of Education, Health, and Environment, with a commitment of ?5 crores for a three-year project in each category. The Grant would also reward the other finalists with ?25 lakhs for a one-year project. The total fund committed for the eighth edition is ?16.5 crores.  

HCL Grant has seen a significant increase in registrations. Since 2016 onwards 35000+ Registrations, 7500+ Applications has been received under HCL Grant. The idea of the HCL Grant is not only to recognize the work of NGOs contributing to the nation’s growth and development but to also stay engaged with them to achieve the desired impact. 

The HCL Grant Compendium published each year features not just the winners, but also the work of up to 30 shortlisted NGOs, 10 from each category. It is a step toward re-establishing the value of strong governance in civil society and providing international visibility to Indian NGOs doing path-breaking work in the rural development sector. 

For more information, visit http://hclgrant.hcltech.com 

Quote of Ms. Nidhi Pundhir, Director, HCL Foundation 

HCL Foundation, through HCL Grant Symposiums Edition VIII, aims to bring together NGOs, Government, Corporates, and Policymakers across India on one platform to develop a regional and a sectoral understanding of CSR (corporate social responsibility) and deliberate upon how it can contribute toward #NationBuilding. 

We are always committed to supporting the commendable work NGOs are doing at the grassroots level in the Education, Health, and Environment sectors. We believe that the symposiums will efficiently empower NGOs with the latest information on best practices and transformative ideas and support them in building a better India. 

In 2020, we had SAAHAS, a Bengaluru-based NGO, as our HCL Grant Winner for its project “Sustainable Waste Management through Community-Owned Rural Resource Recovery Systems.” We have witnessed an overwhelming response to the symposium today and are delighted to see many NGOs coming in with their interesting work and hope that the sessions will help participant NGOs re-establish strong governance in civil society.  

Red Hat Defines A New Epicenter For Innovation With Red Hat Enterprise Linux 9

* The world’s leading enterprise Linux platform pairs hardened, trusted code with cloud-based services, powering traditional and next-generation production workloads

* Designed for edge and multi-cloud computing, Red Hat Enterprise Linux 9 drives consistent, manageable innovation everywhere it runs, from data center to cloud to edge

* Red Hat Enterprise Linux remains an economic driver, with the overall Red Hat Enterprise Linux footprint forecast to touch more than $13 trillion of the global economy in 2022

Red Hat, Inc., the world's leading provider of open source solutions, today introduced Red Hat Enterprise Linux 9, the Linux operating system designed to drive more consistent innovation across the open hybrid cloud, from bare-metal servers to cloud providers and the farthest edge of enterprise networks. Red Hat Enterprise Linux 9 is designed to drive enterprise transformation in parallel with evolving market forces and customer demands in an automated and distributed IT world. The platform will be generally available in the coming weeks.

or two decades, Red Hat Enterprise Linux has served as the backbone of enterprise IT, both in the data center and in the cloud, emphasizing customer choice and flexibility. With this platform for innovation, Red Hat customers can choose their underlying architecture, application vendor, or cloud provider with the consistency necessary for modern IT. Combined, this has resulted in Red Hat Enterprise Linux becoming an epicenter for innovation. According to a Red Hat-sponsored IDC study, the global Red Hat Enterprise Linux economy is forecast to exceed $13 trillion in 2022. This includes supporting the business activities of Red Hat customers, which is estimated to provide financial benefits totaling $1.7 trillion in 2022.

Building on decades of relentless innovation, the latest version of the world’s leading enterprise Linux platform is the first production release built from CentOS Stream, the continuously delivered Linux distribution that tracks just ahead of Red Hat Enterprise Linux. This approach helps the broader Red Hat Enterprise Linux ecosystem, from partners to customers to independent users, provide feedback, code, and feature updates to the world’s leading enterprise Linux platform.

IDC2 predicts that “by 2023, 40% of G2000 [companies will] reset cloud selection processes to focus on business outcomes rather than IT requirements, valuing access to providers' portfolios from device to edge and from data to ecosystem.” To Red Hat, this indicates that a standardized platform that can reach across all of these footprints and provide an experience optimized for both innovation and production stability is crucial. Red Hat Enterprise Linux 9 is engineered to address these needs and more, enabling operations teams and developers to deploy new initiatives without abandoning existing workloads or systems.

A ubiquitous platform for consistent innovation across the data center, cloud providers, and edge

Customers can use Red Hat Enterprise Linux wherever and however it makes sense for their unique operational requirements with broad availability and deployment options across major cloud marketplaces. Existing customers can migrate Red Hat Enterprise Linux subscriptions to the cloud of their choice with Red Hat Cloud Access, while any customer looking to adopt the scale and power of the cloud will be able to deploy the platform on-demand from major cloud provider marketplaces, including Amazon Web Services (AWS), Google Cloud, IBM Cloud, and Microsoft Azure.

This platform's ubiquity also stretches to the edge. With enterprise interest in edge computing growing and forecasts predicting a market of more than a quarter trillion dollars by 2025.3, Red Hat Enterprise Linux 9 incorporates key enhancements specifically designed to address evolving IT needs at the edge. These capabilities include:

Comprehensive edge management, delivered as a service, to oversee and scale remote deployments with greater control and security functionality, encompassing zero-touch provisioning, system health visibility, and more responsive vulnerability mitigations all from a single interface.

Automatic container roll-back with Podman, Red Hat Enterprise Linux’s integrated container management technology, which can automatically detect if a newly-updated container fails to start and then roll the container back to the previous working version. Red Hat Enterprise Linux 9 also highlights Red Hat’s efforts to deliver key operating system functions as services, starting with a new image builder service. Supporting the core platform’s existing functionality, the service supports image creation for customized filesystems and major cloud providers and virtualization technologies, including AWS, Google Cloud, Microsoft Azure, and VMware.

Red Hat and AWS have worked together for more than a decade to support the latest version of Red Hat Enterprise Linux at launch on AWS. Most recently, customers can now run Red Hat Enterprise Linux-based workloads on AWS instances that use ARM-designed Graviton processors. Red Hat Enterprise Linux 9 integration with AWS Graviton processors helps to optimize the price performance for a wide range of cloud workloads running in Amazon Elastic Compute Cloud (Amazon EC2).

A stronger backbone for innovation everywhere

As IT teams adopt new technologies and extend into new operating footprints, the threat landscape becomes more dynamic and complex. Red Hat Enterprise Linux 9 retains Red Hat’s commitment to delivering a hardened Linux platform that can handle the most sensitive workloads, pairing innovation with extended security capabilities. Red Hat Enterprise Linux subscriptions also include access to Red Hat Insights, Red Hat’s continuous, proactive analytics service for detecting and remediating potential configuration and vulnerability issues while optimizing resource and subscription usage across the hybrid cloud.

Beyond the hardening, testing, and vulnerability scanning that all Red Hat Enterprise Linux releases undergo, Red Hat Enterprise Linux 9 incorporates features that help address hardware-level security vulnerabilities like Spectre and Meltdown as well as capabilities to help user-space processes create memory areas that are inaccessible to potentially malicious code. The platform provides readiness for customer security requirements as well, supporting PCI-DSS, HIPAA and more.

Red Hat Enterprise Linux 9 also introduces integrity measurement architecture (IMA) digital hashes and signatures. With integrity measurement architecture, users can verify the integrity of the operating system with digital signatures and hashes. This helps to detect rogue infrastructure modifications, making it easier to limit the potential for systems to be compromised.

Further supporting enterprise choice in architectures and environments across the open hybrid cloud, Red Hat Enterprise Linux 9 will be available on IBM Cloud and also complements the key security features and capabilities of IBM Power Systems and IBM Z systems. Pairing the security-focused hardware capabilities of IBM’s architectures with the security enhancements in Red Hat Enterprise Linux 9 delivers the innovation, strength and security capabilities that many organizations need in hybrid cloud computing.

Consistent automation and development across the hybrid cloud

As IT systems grow to encompass a wider variety of workloads and footprints, IT operations teams are using automated systems and tooling as force multipliers. Red Hat Enterprise Linux 9 helps IT organizations embrace automation across the hybrid cloud, with capabilities tailored to help cut complexity and enhance manageability.

The platform introduces an expanded set of Red Hat Enterprise Linux System Roles, which provide an automated workflow for creating specific system configurations. Red Hat Enterprise Linux 9 further builds out this selection, adding new System Roles for Postfix, high-availability clusters, firewall, Microsoft SQL Server, web console, and more.

Red Hat Enterprise Linux 9 also supports kernel lives to patch from the Red Hat Enterprise Linux web console, further automating how IT organizations can address critical tasks at scale. This enables IT operations teams to apply updates across large, distributed system deployments without having to access command-line tooling, making it easier to address production-impacting issues from the core datacenter to multiple clouds to the edge.

Building on the strategic alliance expanded with Microsoft in 2015, Red Hat Enterprise Linux 9, available at launch on Microsoft Azure, provides a foundation ready for key Microsoft technologies, including Microsoft SQL Server, thanks to joint engineering efforts with Microsoft. This includes tailored performance co-pilot modules, tuned profiles, a SQL Server system role powered by Ansible, and more. Red Hat Enterprise Linux 9 also continues to fully support .NET development and applications, bringing applications built using Microsoft’s development platform to the world’s leading enterprise Linux platform.

Availability

Red Hat Enterprise Linux 9 will be generally available in the coming weeks via the Red Hat Customer Portal and major cloud provider marketplaces. Red Hat Enterprise Linux 9 is also accessible via no-cost Red Hat Developer programs that provide developers with access to software, how-to videos, demos, getting started guides, documentation, and more.

Supporting Quotes

Matthew Hicks, executive vice president, Products and Technologies, Red Hat

“From vast public clouds and tiny edge devices to simple containerized applications and complex artificial intelligence workloads, modern IT starts with Linux. As the world’s leading enterprise Linux platform, Red Hat Enterprise Linux 9 extends wherever needed across the open hybrid cloud and beyond, pairing the trusted backbone of enterprise Linux with the innovative catalysts of open source communities. Linux is positioned at the epicenter of rapid technological evolution and that Linux is Red Hat Enterprise Linux.”

Ashesh Badani, senior vice president, Products, Red Hat

“Red Hat Enterprise Linux 9 continues Red Hat’s commitment to matching the relentless pace of IT innovation across industries. The platform is designed for an automated world, where the operating system forms the connection point between otherwise disparate and disconnected environments and technologies. Whether it's extending existing skills into new IT footprints or helping to bring cloud-native workloads to production, Red Hat Enterprise Linux 9 provides the innovation engine for the modern and future enterprise.”

Fred Wurden, vice president, AWS Commercial Software Services

AWS and Red Hat have collaborated for over a decade to provide enterprise-ready cloud computing solutions for customers. Now, we bring Red Hat Enterprise Linux 9, a more consistent and innovative Linux platform onto AWS, enabling customers to run their mission-critical workloads on over 500 generally available instance types including the most advanced ARM-based AWS Graviton processors which power the latest generation of Amazon EC2 instances.”

Ashish Nadkarni, group vice president, Infrastructure Systems, Platforms and Technologies Group, IDC

“IT is no longer limited to the corporate data center or to public cloud deployments - instead, systems and operating environments must extend out to the furthest edges of the digital domain. As with virtualization and cloud computing before it, this new paradigm benefits from a standardized Linux platform such as Red Hat Enterprise Linux, which gives IT teams a common foundation for innovation no matter where they operate.”

Mike Cross, principal product owner, GlaxoSmithKline

“High-performance computing is a critical component of pharmaceutical innovation, as being able to quickly identify and analyze new global health challenges is crucial to our corporate mission. Red Hat Enterprise Linux supports these environments for us, and Red Hat Enterprise Linux 9 is poised to drive even greater performance out of these production systems in our efforts to help communities around the world adapt to a changing health landscape.”

Hillery Hunter, general manager, Cloud Industry Platforms and Solutions, CTO, IBM Cloud

“With IBM Cloud, clients can take advantage of open cloud architecture to accelerate the pace at which they can drive innovation, while still prioritizing security and resiliency. With the support of Red Hat Enterprise Linux, our clients, particularly those in highly regulated industries like financial services, can be assured they are using an environment designed with security and enterprise capabilities in mind. As organizations prioritize security, compliance, and modernization velocity, this environment can help them manage workloads across their hybrid cloud environments to provide a consistent experience.”

Omar Khan, General Manager, Azure Infrastructure, Microsoft Corporation

“We look forward to helping our customers continue to innovate as they migrate to the cloud. As businesses extend workloads from the cloud to the edge, solutions like Red Hat Enterprise Linux on Microsoft Azure offer benefits for the enterprise, including automated Red Hat Enterprise Linux workloads through Red Hat Ansible Automation Platform on Azure.”

James Jones, DevOps engineer III, PODS Enterprises, LLC

“We run an extensive set of critical services on Red Hat Enterprise Linux, and Red Hat Enterprise Linux 9 provides an expanded set of capabilities, particularly around cloud-native and containers support, that will help us to further enhance and refine our Linux landscape. The updates to manageability features such as cockpit and Red Hat Web Console are ones that we’re keen to explore more deeply, especially as our environment becomes more entrenched in cloud-native services.”

ABOUT RED HAT

Red Hat is the world’s leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future.

KDEM And Mikro Grafeio Services Pt. Ltd. Signs MOU To Proliferating Growth In Emerging Cities Across Karnataka

The Karnataka Digital Economy Mission (KDEM) in its endeavor to augment India’s start-up ecosystem and collaborative innovation, today entered into a Memorandum of Understanding (MOU) with Mikro Grafeio Services Pvt. Ltd. Mr. Sanjeev Gupta, CEO, Karnataka Digital Economy Mission Pvt Ltd. (KDEM), and Mr. Santosh Mahalingam, CEO, Mikro Grafeio Services Pvt. Ltd., signed an MOU on 27th April 2022 in Bengaluru, to promote ‘Beyond Bengaluru’ mission to key emerging cities and districts across the State of Karnataka through enhanced collaborative initiatives.

This MOU is aimed to bring about a necessary change in the outlook of commercial spaces in cities beyond Bengaluru for the right social and economic impact to make its mark.

The Beyond Bengaluru program of KDEM is spearheading the mission of proliferating the growth of the digital economy in clusters beyond Bangalore by identifying potential clusters in the state. The program aims at building a community of key industry players, entrepreneurs, start-up owners, academia, accelerators, and the student community, the Beyond Bengaluru program of KDEM is steering towards getting investments and generating employment in the state.

Mikro Grafeio Services Pvt. Ltd. is a social impact start-up that aims at creating employment opportunities in Tier 2 & 3 towns; they support Hybrid work models by offering flexible workspaces for employees to work from their hometowns. With the support of KDEM, it hopes to motivate enterprises and organizations to set up their global offshore capabilities in Mysore, Mangalore, and Hubbali clusters by developing and pooling resources & creating a plug and play infrastructure. Plans also include engaging with the Hospitality Industry to optimize the existing inventories and setting up sector-specific incubation centers.

Speaking at the occasion, Mr. Sanjeev Gupta, CEO (KDEM) highlighted the benefits of Mikro Grafeio’s solutions in promoting economic growth in Tier 2 & 3 cities, thus aligning with KDEM’s vision for the future of Karnataka.  He added, “In view of the new normal, Tier2/3 cities in Mangaluru, Mysuru and Hubbali clusters have showcased tremendous potential. KDEM and MGS shall aim to work together towards setting up global offshore capabilities in Beyond Bengaluru clusters. We also hope that this development will also help women empowerment and strengthen efforts in diversity inclusion, by offering fair opportunities with the comfort of working closer to home”.

Mr. Santhosh Mahalingam, CEO, Mikro Grafeio Services reflected on the overall social sustainability and impact of this collaboration with KDEM through this MOU.  “As a startup conscious about ESG, we have been focused on bridging the digital divide and empowering local economies by providing universal access to entrepreneurial and professional opportunities, especially in Tier 2 and Tier 3 cities.  We also intend to optimize our skilling expertise to meet the requirements of KDEM’s Talent Accelerator ecosystem in emerging cities and towns to advance sector-specific talent development initiatives.”

About Mikro Grafeio Services Pvt. Ltd.:

Mikro Grafeio Services Pvt. Ltd. is a social impact start-up that aims at creating employment opportunities in Tier 2 & 3 towns and thus enabling local economies to thrive. Providing distributed workspaces that process ready, people-ready, and performance-ready, Mikro Grafeio is an integrated workspace and workforce solutions, provider.  Our workforce solutions include a host of value-added services - hiring, training, and deploying talent, tech-infrastructure management, employee well-being & engagement, and other business support services. Mikro Grafeio assists in hiring, training, and deploying a productive workforce faster and at scale to either kick-start or expand operations. We also offer workspaces across 300 + locations across India through our discovery platform, BeRightHere.com. 

About Karnataka Digital Economy Mission Pvt Ltd.:

Karnataka Digital Economy Mission is a Section 8 organization designed to function as the knowledge bridge between the Government of Karnataka and industry with a view of accelerating the growth and investments of the IT, BT, and S&T sectors in Karnataka.  The Karnataka Digital Economy Mission promises to harness the unlimited potential of the digital economy of Karnataka to transform the lives of the people in the state. The IT ecosystem not only uplifts the lives of professionals in the industry but also powers millions of other ancillary jobs across other industries.