Monday, July 25, 2022

Gokaldas Exports Reports PAT Of Rs 50.8 Crore Compared To Rs 52.4 Crore In Previous Quarter


Financial Results, Q1 FY23

Gokaldas Exports Limited today declared its financial results for the quarter ended 30th June 2022. For the quarter, the Company reported a revenue of Rs 612.7 Crore on a consolidated basis, up by 152% compared to a Covid impacted revenue of Rs 243 Crore in the corresponding quarter of last year. The company has made appreciable progress across all key performance indicators.

Key Highlights:

o   Profit before tax was Rs 50.8 Crore compared to a loss Rs.2.6 Crore in Q1 FY22 and Rs 52.4 Crore in the previous quarter, Q4 FY22. During quarter the company considered share-based compensation charge of Rs 6 Crore, excluding which the profit before tax was Rs 56.8 Crore.

o   Reported a net profit of Rs 39.4 Crores in the current quarter and generated an EBITDA of Rs 74.3 Crore compared to Rs 19.9 Crore in the Q1 FY22.

o   During the quarter, the company has incurred a CapEx of Rs 32 Crore towards capacity expansion and modernisation.

Commenting on the company’s performance, Mr. Siva Ganapathi, Managing Director, said, the solid revenue and profit growth was driven by excellence in execution and utilizing the capacity optimally in a challenging economic environment.

The company will continue to focus on optimal resource utilization and drive operational excellence.

Saturday, July 23, 2022

Godrej & Boyce Targets 35% Growth In Its Commercial Aviation Business


* Improving infrastructure and government thrust coupled with the travel pick-up, has geared the demand for aerospace components and parts

* Godrej Aerospace is targeting 3 times growth in 3 years 

Godrej & Boyce, the flagship company of the Godrej Group, has stated that its business Godrej Aerospace is targeting a 35% growth in its Civil Aviation business. This is owing to the 50% surge in demand that has been witnessed in this segment, from global majors including OEMs and engine manufacturers. With domestic travel having recovered globally and with international travel scheduled to reach pre-covid levels by 2025, the demand for civil aviation is accelerating. The business is further eyeing three times growth by FY25 owing to the rising demand for aerospace components and parts as travel trends lift. 

The Business announced that technology expansion along with increasing global presence will drive this growth.  This projected growth is also fuelled by major engine manufacturers and global OEMs taking a keen interest in India. Catering to the current demand, Godrej Aerospace is seen as a preferred partner owing to the integrated manufacturing facility backed by capability and approvals that the Company has in the aviation industry for over a decade. Godrej Aerospace has been manufacturing and supplying complex airworthy systems for aircraft applications, including critical sheet metal brackets, complex fabrications, hydraulic aggregates, crash-proof fuel tanks for helicopters, structural assemblies, and many other products for key global partners. The business is AS9100 certified and NADCAP approved for special processes like chemical processes, welding, heat treatment & brazing, NDT, composites, elastomer seals, measurement and inspection and non-conventional machining. Godrej Aerospace has been partnering with ISRO for over 30 years to manufacture complex systems such as the liquid propulsion engines for PSLV and GSLV rockets, thrusters for satellites, and antenna systems.

Maneck Behramkamdin, AVP & Business Head, Godrej Aerospace said, “The aviation sector working towards recovering from a severe economic crisis, is now exhibiting indications of confidence. Global OEMs are opening avenues for partnering with Indian manufacturers. Considering the post-pandemic economic recovery, we are projecting three times growth in the next three years in the civil aviation segment and expect this to revive further.”

About Godrej & Boyce Mfg. Co. Ltd

Godrej & Boyce ('G&B'), a Godrej Group Company, was founded in 1897 and has contributed to India's journey of self-reliance through manufacturing. G&B patented the world's first springless lock and since then, has diversified into 14 businesses across various sectors from Security, Furniture, and Aerospace to Infrastructure and Defence. Godrej is one of India's most trusted brands serving over 1.1bn customers worldwide daily.

To learn more visit: www.godrej.com

Bank of Baroda Organises “Banking Beyond Tomorrow – Annual Banking Conference 2022”


* The RBI Governor, Shri Shaktikanta Das is the Chief Guest at the conference 

Bank of Baroda (Bank), one of India’s leading public sector banks, organised the first edition of its Annual Banking Conference with the theme being “Banking Beyond Tomorrow”. Shri Shaktikanta Das, Governor, Reserve Bank of India was the Chief Guest at the conference and delivered the inaugural address.  

With over 20 eminent speakers from within the banking and financial services industry and outside, the full-day conference features five stimulating and thought-provoking panel discussions covering Banking Beyond Tomorrow; New Frontiers in Financial Inclusion; Innovative Technologies and New Business Models for Digital Banking; ESG Finance and Tackling Climate Change, and ending with an Economists’ Roundtable.  

Shri Sanjiv Chadha MD & CEO, Bank of Baroda said, “As we step into the post-Covid-19 era, we have the opportunity to debate on longer-term trends and steer the discussion towards identifying the contours of Banking Beyond Tomorrow. The other aspect that we have learnt over the last few years is that banks cannot do everything theMs.elves. They need to work with partners - partners who are increasingly embedded in core banking areas. The conference is therefore all about an outside-in perspective, and how we can define and shape the future of banks.” 

The notable highlight of the event was RBI Governor’s inaugural address. He spoke about the macroeconomic backdrop, noting that India’s growth remains strong. He also mentioned that RBI will take adequate steps to ensure a ‘soft landing’ for the Indian economy. Notably, he defended the flexible inflation targeting approach of the MPC, highlighting that it ensures the stability of the overall ecosystem. He also noted that RBI is well positioned to weather any external shocks. He mentioned that spillovers from global policy tightening, ongoing geopolitical tensions, Covid-19 induced slowdown, and commodity price shock have impacted growth across economies. To reiterate India’s strong external position, the RBI Governor stated that unhedged ECBs account for only a small portion of the total debt, hence India is adequately insulated against foreign exchange risk. 

On the regulatory front, the Governor pointed out that good governance and a sound risk management framework is essential for an efficient and well-functioning banking system. He emphasised how social media can increase customer penetration and used a tool for grievance redressal. He also flagged the need to recognise climate-related risks and incorporate them into business models.  

The theme of the first session was Banking Beyond Tomorrow. Eminent panellist Ms. Arundhati Bhattacharya, Salesforce India raised an important point and suggested the need for creating end-to-end digital products. She also mentioned the need for automation of services for the efficient functioning of the entire banking system. Mr. Ashish Gupta, Credit Suisse said that customer activities should be through regulated entities to ensure KYC compliance and customer safety. Mr. Deep Gupta, Macquarie Asset Management noted that technology and green infrastructure are two of the most important emerging areas of financing. Mr. Rashesh Shah, Edelweiss Group opined that banks in the future will transform into hubs providing financial solutions.  

Mr. Dilip Asbe from NPCI who joined the conference through video conferencing, in a fireside chat with Mr. Akhil Handa, Bank of Baroda highlighted the importance of digital infrastructure. He noted the success of UPI in the payment infrastructure. He also highlighted that rural will lead the way in the digital payment space growing at a 2x-4x pace.  

The next session focused on financial inclusion. Answering the question of strengthening the movement of financial inclusion, panellist Mr. Amit Arora of World Bank’s suggestion was to collectively invest in 1) customer protection and grievance redressal and 2) financial health of households. Mr. Vikramaditya Singh Khichi of Bank of Baroda said that the Bank is punching much above its weight with a 15% share in PMJDY and the Bank is working on more products to further penetrate the rural and Agri markets. bob World already has onboarded over 20 million customers. Ms. Kalpana Ajayan, Women’s World Banking emphasised the need to focus on advocacy, gender-sensitive policies and making women more comfortable with technology. Ms. Sucharita Mukherjee and Kaleidofin spoke about the importance of account aggregators providing tailored credit solutions. Mr. Anil Gupta, MicroSave Consulting, the moderator, ended the session by stating that it is time to move from Jan Dhan to Jan SaMr.idhhi.  

A special address was delivered by Mr. Harsh Wardhan Modi from J.P. Morgan through video conferencing. He pointed out that in the current scenario, inflation is sticky and global interest rates will remain high. Banks with the best total cost-to-asset ratio will gain long-term shares. Furthermore, in terMs. of digitisation, he highlighted that customer experience is becoming a prime driver of value creation in financial services. On cryptocurrencies, he pointed out that regulatory buy-in will be necessary for any form of money and payment system to gain scale.  

The next session shed light on innovative technologies and new business models for digital banking. In this session, moderated by Bank of Baroda’s Chief Digital Officer, Mr. Akhil Handa, the conversation revolved around solutions-based services to enhance the digital outreach in the banking sector. Mr. Ajay Khurana, Bank of Baroda mentioned that micro-service-based architecture is better for enhanced customer experience. Further, he noted that Bank of Baroda’s data lake is ushering in new dimensions of analytics. Ms. Lizzie Chapman, ZestMoney spoke about complementarity between technology companies and banks wherein banks will bring stability and regulatory awareness. Pranav Arora, Accenture said that Open Banking is indeed a massive opportunity for all banks. Ms. Chetna G Sinha of Mann Deshi Bank agreed and further stated that the rural population is eager for digital financial solutions and that banks should pave the way.  

Tata Motors Bags Prestigious Order of 1500 Electric Buses From Delhi Transport Corporation Under The CESL Tender

 


Key Highlights:

* Largest order to date for electric buses by Delhi Transport Corporation

* Tata Motors will supply, operate and maintain 1500 air-conditioned, low-floor 12-metre electric buses

* Tata Starbus electric buses offer state-of-the-art technology and features designed for comfortable travel for passengers

Tata Motors, India’s largest commercial vehicle manufacturer, today announced that it has bagged a prestigious order of 1500 electric buses from Delhi Transport Corporation (DTC) under the larger tender by Convergence Energy Services Limited. Tata Motors will supply, operate and maintain air-conditioned, low-floor, 12-metre fully built electric buses for 12 years, as per the contract. Tata Starbus electric buses offer state-of-the-art technology for sustainable, eco-friendly and economical public transportation and are equipped with modern features to enable safe, smooth and comfortable travel for passengers.

Commenting on the occasion, Mr. Neeraj Semwal, IAS, MD – Delhi Transport Corporation, said, “We are delighted to confirm the order of 1500 electric buses to Tata Motors. The induction of the environment-friendly buses will help largely in reducing air pollution and benefit millions of Delhi citizens. DTC remains committed to introducing new technologies for benefit of passengers and society, at large.”

Ms. Mahua Acharya, MD & CEO Convergence Energy Services Limited (CESL) said, “We are extremely happy that DTC has placed its largest order for electric buses under the Grand Challenge of CESL. The Delhi Government has shown exemplary leadership in transitioning over to electric buses. We are fortunate to have benefited from this and are thankful to Tata Motors in their generous collaboration.”

On the momentous occasion, Mr. Rohit Srivastava, Vice President, Product Line – Buses, Tata Motors, said, “We’re delighted to have won the largest order for electric buses by DTC. The delivery of these buses will further fortify our partnership with DTC and help in environment-friendly mass mobility for the city of Delhi. We are committed towards modernising public transportation in India and keep sustainability at the core in the designing of futuristic vehicles.”

Tata Motors has been at the forefront of bringing environment-friendly mobility to India. Its state-of-the-art research and development facilities have steadily worked to engineer innovative solutions powered by alternate fuel technology, including battery-electric, hybrid, CNG, LNG and hydrogen fuel cell technology. Till date, Tata Motors has supplied more than 650 electric buses across multiple cities in India, which have cumulatively clocked more than 39 million kilometres.

About Tata Motors

Part of the USD 109 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 34 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, UK, US, Italy and South Korea. With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors’ vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries. As of March 31, 2022, Tata Motors’ operations include 86 consolidated subsidiaries, two joint operations, four joint ventures and 10 equity-accounted associates, including their subsidiaries, in respect of which we exercise significant influence.

Customs Duty Collection Arrangement Launched By South Indian Bank


Mr Murali Ramakrishnan, MD & CEO, South Indian Bank, officially launched the Customs Duty Collection Arrangement facility in the presence of Smt. Dr. Shankari Murali (ICAS), the Principal CCA (Chief Controller of Accounts) of CBIC (Central Board of Indirect Taxes & Customs), on July 8, 2022. The day also witnessed the inauguration of the Bank’s e-FPB (Electronic Focal Point Branch) at Delhi by Mr. Ramakrishnan. The launch of the facility enables South Indian Bank’s digital channels to collect direct and indirect taxes from taxpayers.

Mumbai: South Indian Bank’s corporate and retail customers will now be able to pay customs duty through the bank’s internet banking platform ‘SIBerNet’. The facility allows customers to make online payments by selecting South Indian Bank from the list of banks on CBIC’s portal.

The facility was kicked-off with the inauguration of the Bank’s e-FPB. The e-FPB will be attached to the Bank’s Corporate branch in Delhi. Consequently, the bank will collect customs duty on behalf of the CBIC, under authorization from the RBI.

Mr. Murali Ramakrishnan, MD and CEO of South Indian Bank applauded the achievement by saying, “This milestone achievement opens up a wide spectrum of opportunities for us. The accreditation allows us to enhance customer convenience for retail customers, small and medium enterprises and large corporations for their government-related banking transactions, taxes and other revenue payment facilities.”

Friday, July 22, 2022

An International Icon BMW Celebrates Its 50th Birthday; The BMW Headquarters Is Designed By Karl Schwanzer


Between 1970 and 1972, a timeless icon with global appeal was created in Munich in just 26 months. 3.5 million working hours on the construction site. 500 builders and 200 architects, engineers, and draftsmen. Over 3,000 façade elements manufactured for the first time in Europe using the Japanese cast aluminum process. At the time, employees from twelve nations built the BMW landmark. Today, colleagues from over 104 countries work side by side there and in the neighboring plant.

The BMW Group celebrated its corporate headquarters as a world-famous architectural icon today with over 200 international guests in attendance, from business, culture, politics and society. The keynote speech by architect and Pritzker Prize winner Francis Kéré as well as the appearance by Nihal Saad, Chief of Cabinet of the United Nations Alliance of Civilizations, made the ceremony a special event. Especially for this occasion, illustrator Christoph Niemann created an impressive artwork inspired by the BMW tower as an edition. In addition to the performance by star tenor Jonas Kaufmann as well as a speech by Dr Markus Söder, Minister President of Bavaria, the festivities concluded with a special highlight: With twelve vertical dancers, the US dance company BANDALOOP spectacularly transformed the BMW Headquarters into a 100-meter-high stage in its German premiere. Based on the impressive choreography by Melecio Estrella, the ensemble created a weightless synthesis for an interplay of architecture and dance. Along with specially composed music by Ben Juodvalkis, the façade dancers around Thomas Cavanagh presented "Momentum Curve", an exclusive performance as a tribute to the unique architecture.

To this day, the BMW Group Headquarters, with its suspended construction, is one of the most innovative engineering buildings of the post-war period – because the four cylinders are suspended from a cruciform steel beam construction on the roof. In the process, the building did not grow from the bottom up, as was generally the case, but rather the upper floors were first manufactured time-effectively on the ground, then moved upwards hydraulically on the massive "tower shaft" made of reinforced concrete and completed in several segments. In August 1972, opposite the renowned Olympic site designed by Behnisch & Partner with Frei Otto, the BMW Group Headquarters was completed. Designed by Austrian architect Professor Karl Schwanzer, the administrative building has since become a timeless icon with global appeal for Munich and the company. With its impressive façade, visionary construction and spatial concept, the "suspended tower" uniquely combines visual conciseness with a constructive and functional logic. The innovative power of Schwanzer's design stands for the BMW Group then as now, making the company headquarters a beacon of sustainable mobility for tomorrow. Celebrated in the media as the "most impressive and coolest corporate headquarters in the world", it is not only a symbol of economic success but also stands for international exchange, peace and interculturalism. Today, the "built communication" implemented by Schwanzer points the way to a new era of electrification, digitalization, and circularity.

Francis Kéré, architect and Pritzker Prize winner:

"Architecture and the automotive industry have been and continue to be some of the most important catalysts for innovation, economic development and the prosperity of nations. Both industries are society-changing, forward-looking, and trigger global trends that have a complex impact on the economy and the environment. Today, people, nature and industry are under enormous pressure to find solutions that require an honest examination of our actions. As a result, actors from architecture to business need to pull together more than ever, recognizing our symbioses and responsibilities in order to adapt our respective creations to focus on a sustainable future." 

Caroline Schwanzer, granddaughter of Professor Karl Schwanzer:

"When I was in Munich with my father for the first time, we visited the BMW building. He told me that Karl Schwanzer built the BMW Headquarters from the top down, meaning that the four cylinders hang from a structure on the roof. That fascinated me. I enjoyed it that my grandfather thought differently and that this 'thinking differently' was also appreciated. As a professor and teacher, he helped a generation of phenomenal architects come into being. He encouraged and challenged, but most of all, he inspired. That has always inspired me to reach for the stars!"

Dr-Ing. Dr-Ing. E.h. Norbert Reithofer, Chairman of the Supervisory Board of BMW AG:

"The BMW tower has left its mark on the BMW Group. It is an icon of architecture that is brimming with a pioneering spirit. It represents BMW's awareness and self-confidence that progress comes through innovation. This building is so spectacular because it leaves no one untouched. Every generation at BMW is responsible for leading the company into the future. Karl Schwanzer's headquarters has provided the BMW Group with a sense of identification on its way to becoming a global player."

Oliver Zipse, Chairman of the Board of Management of BMW AG:

"Talking about visions also means thinking beyond the spirit of the times and developing a sense of what will endure in the future. The BMW Headquarters has thought this out far ahead and even today it is hard to beat in terms of modernity. This building is always an incentive to leap further ahead than one would normally expect. We strive to make the next hundred years as successful as the last hundred years."

Melecio Estrella, Artistic Director and Choreographer BANDALOOP:

"We have been taking inspiration from the curvature of this building, recognizing that the human body expresses in curves and spirals. When we consider the acceleration that BMW well represents, we reflect on the momentum of the human heart, driving us toward a livable world for future generations."

Professor Karl Schwanzer (1918-1975):

"If you have decided to be an architect, you must have the courage to want to fulfill visions. Architecture is an art of communication, a means of communicating across centuries. Perseverance is creative. Accuracy, punctuality, continuity and modesty are the best of companions. Creating is not an agonizing drudgery but a means for joy. To work joyfully makes life meaningful."

"In the design, clearly readable forms were chosen that convey precision, technical perfection and beauty of form as an expression of and association with the image of an automobile factory."

Commissioning and film set

In 1968, BMW AG announced an architectural competition to design a new BMW administration building. To convince the BMW Board of Management, Supervisory Board and significant shareholders, Schwanzer had a 1:1 model of a complete cloverleaf-shaped floor built at the studios of Bavaria Film. In December of the same year, BMW's management awarded him the contract to build the new headquarters. Schwanzer's set and the pitch film shot also involved Rolf Zehetbauer, who won an Academy Award in 1973 for Art Direction of "Cabaret". Two years later, the Hollywood film "Rollerball" was released – with the BMW tower as the architectural protagonist. Whether "Suspiria" (1977), "Bloodline" (1979), "Zwei Nasen tanken Super" (1984) or "Vaterfreuden" (2014): the BMW headquarters celebrated its very own success on the big screen.

Described by artist Peter Blake as a "unique piece of realized pop architecture," its striking architecture remains a symbol of visionary corporate decisions for a successful future.

The large-format monochrome paintings "Red," "Yellow", and "Blue," commissioned from Gerhard Richter in 1972 and created especially for the foyer, are at the very beginning of BMW Group's half-century commitment to its cultural engagement with hundreds of initiatives worldwide. They will be restored as part of the anniversary celebrations and then re-presented as initially intended by the artist.

Architecture at BMW

The BMW Group can reflect on a decades-long tradition of working together with renowned architects. As early as Karl Schwanzer's construction of the headquarters, the company consciously opted for a dynamic type of architecture which was later to continue with trend-setting buildings by Zaha Hadid with her BMW Group Plant Leipzig (2005), BMW Welt in Munich by Coop Himmelb(l)au (2007) and Sir Nicholas Grimshaw's Rolls-Royce plant in Goodwood (2003). In 2022, Rem Koolhaas' Rotterdam-based OMA office and the Danish architects of 3XN were commissioned by BMW to transform its Munich main plant and jointly shape urban production for the future. (Press release).

A new film about Karl Schwanzer

"He Flew Ahead" is the title of a feature film about Karl Schwanzer with actor Nicholas Ofczarek in the role of the architect. Director Max Gruber created the movie on behalf of Martin Schwanzer, the late son of Karl Schwanzer and his granddaughter Caroline. As the subtitle "Architect's Poem" suggests, it is an unconventional approach to an extraordinary personality who understood architecture as materialized poetry. In addition to Karl Schwanzer himself, important contemporary witnesses and companions also have their say in the film, which will celebrate its official premiere in the fall of 2023.

Special anniversary exhibition at the BMW Museum

The BMW Group Headquarters and the BMW Museum, popularly known as the "bowl," are two of Munich's most distinctive buildings and are cherished as icons of German post-war architecture. From the beginning, the BMW Museum was integral to Karl Schwanzer's vision for the company's headquarters. A special exhibition about the ensemble, which has been a listed building since 1999, conveys the history of the headquarters area in the museum's foyer and presents architectural models from the time of its construction. The exhibition will be on display until October 3, 2022. Admission is free.

In Munich, the Olympic year 1972 will be celebrated with the exhibitions "The Olympic City of Munich. Retrospect and Outlook" at the Architekturmuseum Munich, "Visions and Reality. Art for the 1972 Olympic Games in Munich" in the City Hall Gallery as well as "The Olympic Games 72 in images – Photographs from the collections of the Bayerische Staatsbibliothek".

Sify Reports Revenue of INR 7709 Million; EBITDA of INR 1525 Million For Q1 FY 2022-23


HIGHLIGHTS

Revenue was INR 7709 Million, an increase of 20% over the same quarter last year.

EBITDA was INR 1525 Million, an increase of 5% over the same quarter last year.

Profit before tax was INR 395 Million, a decrease of 10% over the same quarter last year.

Profit after tax was INR 271 Million, a decrease of 18% over the same quarter last year.

CAPEX during the quarter was INR 2241 Million.

MANAGEMENT COMMENTARY

Mr. Raju Vegesna, Chairman, said, “The last couple months has seen shifting winds in the macroeconomics of the world. Right through, India has retained a strong outlook for investments and growth. This is in large part due to the consistent economic policies of the government and its stated ambition to pursue digital methods to deliver social benefits.

The technology landscape has been the biggest beneficiary of these policies, and this is reflected in the growing number of incoming requests for Digital Transformation. We see Indian enterprises using this opportunity to adopt the best practices from around the world”. 

Mr. Kamal Nath, CEO, said, “Enterprises are displaying a growing comfort in digital adoption across all levels. They are leveraging digital transformation to spark innovation across the enterprise, and this is resulting in an increasing number of new initiatives delivered on a digital-only platform.

While earlier, our mandate was to accelerate our clients’ transformation goals, our cloud-focused Digital initiatives are now called upon to create new business processes, customer experiences and greater cost-effectiveness. Enterprises’ increasing interest in outcome-based initiatives, incoming policies around data and the government’s aggressive adoption around all-things-digital should act as tailwinds for our Data Center, Network and Digital services”.

Mr. M P Vijay Kumar, CFO, said, “We remain committed to expanding our data center and network footprint and are gradually scaling up the adoption of renewable energy in our data centers. Investment into people and tools will be complimentary to this growth, without losing sight of our fiscal roadmap.

As we scale, our focus would be on ensuring that costs are optimized and revenues are improved across our service mix.

Cash balance at the end of the quarter was INR 3794 Million”.

BUSINESS HIGHLIGHTS 

The Revenue split between the businesses for the quarter was Data Center colocation services 34%, Digital services 26% and Network services 40%.

During the quarter, Sify has invested USD 150,000 in startups in the Silicon Valley area as part of our Corporate Venture Capital initiative. To date, the cumulative investments stand at USD 3.44 Millions.

Sify commissioned incremental capacity of 4MW across Noida and Hyderabad data center facilities in the quarter.

As on June 30, 2022, Sify provides services via 824 fiber nodes and 1910 wireless base stations across the country, a 11% and 5% increase respectively over the same quarter last year.

The network connectivity services crossed a critical milestone of deploying more than 5000 SDWAN service points across the country.

CUSTOMER ENGAGEMENTS

Among the most prominent new contracts during the quarter were the following:

Data Center Services

International players who colocated in Sify Data Center included a cloud security company, multiple cloud contact center software providers and an application security and multi-cloud management player.

Among those who opted to migrate from on-premise DC to Sify DC were an international digital studio, a private bank and a co-operative society.

A domestic banking major expanded their DC and DR infrastructure with hosting in Sify DC.

Digital services

One of the country’s premier steel major contracted to refresh and augment their network managed services.

Industry majors from Steel, Life Insurance, eCommerce and infrastructure contracted to migrate from on-premise DC to our Cloud platform.

A MNC steel player and a private health care provider contracted for Greenfield cloud projects.

An apex body for insurance information contracted to augment and refresh of their infrastructure managed services.

A power regulatory authority contracted to set up a Security Operations Center and for managed services.

Contracts for services such as DRaaS, PaaS and IaaS included major players from the hosiery, IT, Renewable energy, health care and banking sectors.

The regulatory body for insurance, a consumer durables manufacturer, an insurance player and a logistics major contracted for managed services.

A home-grown chemical major csigned a multiyear managed security services contract.

Multiple players from Insurance, one of the country’s premier stock exchanges, a shipping major, one of the the largest public sector banks and an investigation agency contracted for Hardware Security modules for data protection.

Network Services

A subsidiary of the Central bank responsible for payment infrastructure contracted for Data Center Interconnect, network for storage replication and DC Traffic.

One of the oldest international names in the financial media industry, a multinational investment bank and an international car major contracted for an independent network.

One of the oldest supply chain management players contracted  for a full refresh of their network connectivity.

AMS-IX India, a carrier-neutral, open Internet Exchange, is now operational at Kolkata and Hyderabad.

Total Pageviews