Saturday, February 4, 2023

The “14th Edition Of India Online Poker Championship” Presented By Spartan Poker Returns With The “Highest-Ever Prize Pool Of 43 Crore”


Amin Rozani, Founder and Group CEO of Spartan Group, shares key insights into his company’s flagship mega-event India Online Poker Championship (IOPC). The online gaming industry maverick talks about the major highlights of IOPC 2023, shares his views on why poker dominates the online gaming industry. 

The India Online Poker Championship (IOPC) is the country's longest-running and biggest poker tournament. It began as an online dimension to Spartan Poker’s offline event, India Poker Championship (IPC). The first series was a small-scale affair with a modest turn-out, but in time the event grew in popularity and today attracts players from all over the country. 

“Today IOPC is the country's premier poker series that happens bi-annually. We first began the marquee event in 2015, with a guaranteed prize pool of around INR 7 lakhs. Over the years, the event has grown considerably with our 14th edition offering players INR 43 Crore in guaranteed cash prizes.”, says Amin Rozani reminiscing on his journey with IOPC. 

The 18-day tournament, IOPC, kicked off on 19th January 2023 and will conclude on 5th February 2023. It is packed with 142 remarkable tournaments and the prestigious 'Golden Crown' made of 18-carat gold and 0.6-carat diamonds. This edition of IOPC will also see the biggest-ever leaderboard in the history of Indian Poker, with a mammoth 1.5 Crore up for grabs! 

“Over the years we have witnessed millions of skilled individuals putting forth their A-game, getting amazing prizes, and having a boisterous time overall. The trust and confidence of poker-buffs in IOPC have been the fuel for us to grow IOPC and offer a better gaming experience with every edition.”, says Amin Rozani. 

The ubiquitous nature of the internet, coupled with the sharp decline in smartphone prices, has led to a spurt in all things digital, including online gaming. The gaming business in India has developed dramatically over the past few years, with over 450 million active gamers and streamers, and more entering the fray daily. Within the sector, the latter is one of the fastest-growing segments. The market is expected to grow at a CAGR of 25% to reach USD 5 billion in 2026, a whopping 3X growth from the USD 1.6 billion it garnered in 2021. Source - https://redseer.com/newsletters/casual-card-games-leading-indias-real-gaming-market-to-a-3x-growth/ 

Poker is the most popular card game in the world for a reason. It's a game full of surprises, and the permutations and combinations are limitless. There are several formats, multi-player gaming, strategies, and games to choose from. And, while it may appear simple in principle, it is a game that demands abilities that are simple to acquire but difficult to master. Preparing for a championship involves both preparation and discipline. Poker is an adrenaline-pumping, exciting game that may be played with friends or against worthy opponents, and the prize at the end adds to the thrill and excitement. 

Several factors contribute to the rising popularity of online poker - the increased usage of smartphones and the internet, the increase in the use of digital payments and e-wallets, improved technology for better gaming interface and an overall increase in the awareness and adoption of online gaming, in general, and poker, in particular. Traditional sports have physical/spatial limits; however, because of its reliance on digital networks, Online Poker is more fast-paced and scalable. 

Poker has been mentioned in several academic studies as a game of skill. It is a game in which experience, knowledge, and fundamental mathematical principles far outweigh the element of chance. A certain degree of chance always exists in every sport ever played, but players all around the world aim to lessen this aspect by continually making smarter mathematical judgments. The players are known to constantly train themselves on the most recent strategies developed in the sport while also utilizing?their experience to gain an advantage over their opponents. 

Thanks to events like IOPC, which have helped develop a burgeoning community of professional and upcoming poker players in the country, the game has seen great growth in the country. Also, with low-buy-in tournaments, IOPC has spread to the most distant regions of the country, providing Poker with the much-needed boost it has been yearning for years. 

“Poker's versatility as a game is what makes it so appealing.”, Amin Rozani said, “We see participation from all strata and demographics across India at IOPC, which is the country's greatest poker tournament. Initially, we saw just the professional fraternity avidly preparing for and anticipating the event and having a good time during the tournament. However, in recent years, we have observed an increase in young professional poker players from smaller towns in India, many of whom make a career from the game.” 

It is easy to be bogged down by the thought of having to choose between multiple poker platforms on which to set base and enjoy the game. However, a player can narrow down the possibilities by checking the following factors that all genuine and safe poker platforms like Spartan Poker employ. 

Spartan Poker is accredited by prominent certification agencies to assure fair gameplay on its platform. This require integral factors like shuffling cards to distribution, dealing, and choosing the joker card to be impartial in order to keep the game fair. Platforms like Spartan Poker work on RNG (Random Number Generator) certification to ensure this. It generates a completely random pattern of cards that rules out the predictability factor so nobody can influence it. 

Spartan Poker conducts due diligence regarding the documentation it requests from players, so that the player profiles may be trusted. It insists that any cash-out request will be executed only after the PAN card associated with the profile has been verified and that the cash-out will be deposited only in a bank account associated with that PAN card. 

The seamless integration between the gaming software and the accounts management system gives the player the confidence to deposit freely and withdraw whenever they want to enjoy their well-deserved earnings, which is the second most important feature to practice responsible online gaming. Spartan Poker has ensured that this is the case. The company has developed a comprehensive and watertight system to ensure that all deposited funds are systematically associated with the players’ accounts. Players can quickly transfer funds to their poker wallets quickly using a variety of payment channels. 

“Simply put, at Spartan Poker we strive to always provide a unique, responsible, immersive, complete, and rewarding gaming experience for casual and professional gamers alike.” Added Rozani. 

Friday, February 3, 2023

Action-Packed To The Tee: BMW Golf Cup 2023 Commences In India


* The largest international tournament series for amateur golfers.

* 15 Golf tournaments in 9 cities at the finest golf courses across India.

* Exclusive BMW Lifestyle Collection on display with attractive discounts.

* #BMWGolfCup2023 #DrivenByPassion #BMWGolfSport #BMWIndia #SheerDrivingPleasure

BMW India kick starts its India edition of the largest amateur golf tournament – The BMW Golf Cup 2023 in Chennai today. The much-awaited golf tournament will be held at spectacular golf courses across Chennai, Bengaluru, Hyderabad, Pune, Mumbai, Ahmedabad, Noida, Kolkata and Gurgaon. The winners of the regional tournaments will compete at the national finals which will be held in November 2023.

BMW Golf Cup, one of the world’s largest amateur golf tournament series can trace its roots back a quarter of a century to a British-based initiative that ran on its own for five years before going international. The tournament started as the BMW Invitation Tournament in UK. It has now developed into a global series with 1,000 qualifying tournaments involving 100,000 players in up to 50 countries. The best players from each nation qualify for the highlight, the BMW Golf Cup World Final.

Mr. Vikram Pawah, President, BMW Group India said, “BMW Group India has been a long-standing promoter of golfsport from grassroots to professional level in the country. The BMW Golf Cup is an outstanding tournament in every regard. It offers a fantastic opportunity for amateur golfers to hone and showcase their talent at some of the best golf courses in the country. The BMW Golf Cup is always one of the key highlights of the year and a title that all amateur golfers are keen to win.”

An exclusive, invitation-only event, the BMW Golf Cup 2023 is open to golfers who are members of recognised golf clubs in country. The tournaments are held in accordance with the rules of the respective local golf club. It is also a loyalty program that rewards BMW customers with a chance to qualify for one of the largest amateur golf tournaments in the world. BMW India dealers identify amateur golfers amongst BMW owners who would be interested in participating in the tournament.

India is one of 50 participating countries at the World Final of BMW Golf Cup 2023 which is a global series with 1,000 qualifying tournaments involving 100,000 players. The BMW Golf Cup is an amateur golf tournament series designed for customers, prospects and opinion leaders and provides the right mix for an exclusive social interaction.

The BMW Golf Cup has three categories, A (for handicaps up to 12), B (for handicaps 13 – 28) and Ladies Category (for handicaps up to 28). The winners, runners-up and second runners-up of the individual handicap categories qualify for the National Final. The winners in each of the three handicap categories in the National Final qualify to take part in the World Final of BMW Golf Cup.

The Winners of BMW Golf Cup 2023 in Chennai are as follows:

Men A (Handicaps 0 -12)

Winner – Ram Pramukh Reddy

1st Runner Up – Ishwar Achanta

2nd Runner Up – Darshan V

Men B (Handicaps 13-28)

Winner – Ramakrishnan

1st Runner Up – Duraisamy Arappan

2nd Runner Up – N Rajeshwara Rao

Others

Closest to the Pin on hole #11 (BMW Excellence Club) (Men) – K V Ganesh

Closest to the Pin on hole #4 (Sunday) (Men) – Mohan Menon

Closest to the Pin on hole #15 (TaylorMade) (Men) – Gokulakrishnan M

Closest to the Pin on hole #15 (TaylorMade) (Ladies) – Premlatha

Longest Drive on hole #2 (Omega) (Men) – Arun Kumar

Longest Drive on hole #2 (Omega) (Ladies) – Pavithra Devi

Longest Drive on hole #7 (Vredestein) (Men) – Dr. Venkatesh

Longest Drive on hole #7 (Vredestein) (Ladies) – Geeta Thygarajan

Longest Drive on hole #17 (Ballantine’s) (Men) – Hari Shankar Mani

Longest Drive on hole #17 (Ballantine’s) (Ladies) – Revathy Sudhakar

Straight Drive on hole #18 (Lufthansa) (Men) – Samrat Nahata

Straight Drive on hole #18 (Lufthansa) (Ladies) – S Lakshmi

Birlasoft Records Disappointing Operating Performance In Q3, 2023


BUY

CMP: Rs272  

Target Price: Rs325

Birlasoft reported a disappointing operating performance in Q3FY23 and reported performance was further exacerbated by one-off provisions. Revenue fell 0.3% QoQ to USD148.4mn (flat CC), missed expectations, due to higher-than-usual furloughs and clients putting some projects on hold. Adjusted EBITM declined 180bps QoQ due to higher furloughs, investments in capabilities, and strengthening leadership. The exact financial impact of bankruptcy filings by Invacare remains indeterminable currently. Birlasoft has made a provision of Rs1.5bn against the outstanding receivables and contract assets and is taking legal advice on the matter. Invacare revenue run rate is <3% of revenue currently. Ex-Invacare, management expects operating performance in Q4 to be better than Q3 due to planned deal ramp-ups and absence of furloughs. It aspires to return to ~15% EBITDAM soon. We have cut EPS estimates by 13-34% for FY23E-25E, factoring in Q3 performance and client-specific issue. The stock’s valuation remains undemanding; however, the stock’s performance hinges on clarity on the impact of Invacare, revenue growth acceleration, and margin recovery in the coming quarters. We maintain BUY with a TP of Rs325 at 16x Dec-24E EPS (earlier Rs380), considering reasonable valuation (>6% FCF yield) and anticipated turnaround in operating performance.

Result summary: Birlasoft’s revenue declined by 0.3% QoQ to USD148.4mn (flat CC QoQ), below our expectation of USD149.9mn. Adjusted EBITM declined by 180bps QoQ to 11.2%, ~220bps below our expectations. Reported EBITM fell ~1420bps QoQ to -1.1% on account of Rs1.5bn provision created against outstanding receivables and contract assets related to the Invacare deal. Revenue growth was led by the BFSI (5% QoQ) and lifesciences (1.3%), while E&U and manufacturing fell by 1.7% and 2.6%, respectively, due to furloughs and project holdups. Among services, business and technology transformation and cloud and base services led the growth, registering 5.6% QoQ and 1.3% QoQ growth, respectively, while enterprise solutions declined by 7.1%. Larger accounts continued to drive growth with the top-5, top-10, and top-20 customers registering 1.7%, 1.2%, and 0.4% QoQ growth, respectively, in line with the company’s strategy to focus on strategic accounts and expand relationships. The deal intake in Q3 stood at USD231mn, including net new TCV of USD102mn. What we liked: Healthy deal intake, strong cash conversion, and moderating attrition (25.5% in Q3 vs. 27.4% in Q2). What we did not like: Weak operating performance, MSA termination by Invacare, and weakness in E&U and manufacturing.

Earnings call KTAs: 1) Birlasoft has created a provision of Rs1.5bn against the outstanding receivables and contract assets related to the Invacare deal in Q3. 2) Management highlighted revenue contribution of Invacare stood at less than 3% of its revenue in Q3FY23. Management indicated the billing run rate is 2x of the revenue run rate currently. Going forward, any revenue recognition for work performed/work to be performed will be recognized on collection basis. 3) While near-term uncertainties prevail, it expects healthy IT spends by its clients with a focus on operational excellence, customer experience, and cost efficiencies. 4) The company highlighted a leadership change in its key verticals of E&U, lifesciences, manufacturing, and hi-tech. 5) Management highlighted that while its growth in the enterprise business remained weak over the last couple of quarters, it expects the segment to have a turnaround in a couple of quarters with the manufacturing cycle turning. 6) Attrition trended downwards and stood at 25.5% in Q3FY23 vs. 27.4% in Q2FY23. 7) DSO stood at 55 days.

3i Infotech Delivers Strong Quarter Performance With Revenue Of Rs 182.3 Crore With 10% YoY Growth In Q3 FY23


* To invest in new service lines that offer 5G technologies offering with edge-ready computing

* Onboards 39 new logos in 9M FY23

* Will keenly focus on emerging verticals like EdTech, Agritech and Greentech

* The new order book for the quarter stood at Rs 39.5 crore

3i Infotech Limited (BSE: 532628, NSE: 3IINFOLTD), a leading digital transformation and technology solutions provider company, announced its consolidated financial results for the Third Quarter and Nine Months of FY23 ended December 31st, 2022. The company reported a consolidated revenue of Rs 182.3 crore with 10% YoY and 2.9% quarter-on-quarter growth, with a gross margin of 12.7 %. Having onboarded 39 new logos in 9M FY23, the company also announced its potential to develop an order book of Rs.100 crore based on their new product platform. Moving forward, 3i Infotech’s revenue mix will shift from classic enterprises to the next generation business. For the first nine months of the current fiscal year, revenues grew by 7.43 % to Rs. 538.7 crore with a gross margin of 11.4%.

3i Infotech aims to achieve US$ 1 Bn by 2030 by acting upon its Run, Grow & Build Model. The company has had a razor-sharp focus on cost optimization and has also been able to increase their topline while reducing the EBITDA losses simultaneously in the current financial year.  On the business front, 3i Infotech has made rapid strides with key deals from both private and public enterprises that includes being rewarded the Rs 250 crore WiFi monetization project by RailTel Corporation of India Limited over the next 5 years and mega contract from Eureka Forbes for three years of DIMS services among others.

Key Financial Highlights

Quarter ended December 31st, 2022

Operating Revenue was Rs 182.3 crore with 10% YoY and 2.9% QoQ growth

EBITDA was Rs (3.1) crore with 14.8% QoQ growth

Net Profit was grown to Rs 13 crore which is grown by YoY 35.7%. It was (22.6) Cr in same quarter last year

Nine Months ended December 31st, 2022

Total Revenue was Rs 538.7 crore

Net Profit was Rs 28.6 crore

Net cash stood at Rs 80.8 crore

Other Business Highlights

Q3 FY23 Revenues for Global Business Region was Rs.109.8 crore and has grown QoQ by 1.6% (including US, MEA, KSA, UK)

In Q3FY23, Application-Automation-Analytics (AAA) was one of the highest revenues contributors with Rs 131.4 crore followed by Infrastructure Management Services revenues of Rs 23.7 crore

In Q3 FY23 Revenues for India Region was Rs.67.3 crore and has grown YoY 35.2% and QoQ by 5.2% 

From a vertical standpoint, Banking & Financial Services (BFSI) is a major contributor in total revenue with a 35 % revenue share while Information Technology has a 33 % revenue share in Q3FY23

Top 20 clients in Q3FY23 contributed Rs 71.1 crore which is 39 % of our total revenues

10 new customers win added in Q3FY23 primarily from BFSI sector

Despite the headwind in US region, we are growing quarter on quarter. We have invested in new sales channel alliance/partnership in US and Middle East region for Digital and NxtGen business segment; the reward of these initiatives will start reflecting on revenues from Q4FY23

In tandem with its core service of providing seamless digital transformations with the NuRe led SMB strategy, 3i Infotech also reiterated on its promise to help enterprises be industry 4.0 ready. Along with BFSI, manufacturing (SMB and midmarket), retail, telecom, media, and entertainment sectors, 3i Infotech will also keenly focus on emerging industry verticals like EdTech, Agritech and Greentech.

3i Infotech will actively scale its operations across the global business region, which comprises of US, UK, Middle East, and Africa. With substantial initiative and directives in tech comprising of the launch of first ever Zero-Trust Sovereign Cloud in Malaysia and the unveiling of its first Centre of Excellence in Tirunelveli to bridge the industry gap with highly skilled engineers from the Tier II & III cities of India, 3i Infotech aims at a year with execution of new services and products, enhanced margins, and accelerated growth as a challenger.

Commenting on the Q3FY23 results, Mr. Thompson P. Gnanam, Managing Director and Global CEO, of 3i Infotech Limited, said: “The results for this quarter were in-line with our expectations. Despite macroeconomic uncertainty and furloughs in the quarter, we grew our revenue by 10% on a year-on-year basis. Our EBITDA margin is inching towards breakeven led by our focused cost rationalization strategy. We continue to remain focused on expanding our Edge computing capabilities, with the recent deal win of the RailTel WiFi Monetization Project being a key trigger to accelerate the momentum. While we see some macro issues and general weakness in the overall market, the demand environment continues to remain stable for us. The Company is slowly but surely transitioning to a services led portfolio offering with a focus on high growth and stable margins in the quarters to come.”

In the Q3FY23, the company has done restructuring at a global organization, eliminating non-profitable engagement, and cost rationalization in direct cost. Moving ahead, 3i Infotech will be investing in new service lines that offer 5G technologies offering with edge-ready computing for all emerging needs of the business.

Thursday, February 2, 2023

Birlasoft’s Q3 Revenue Up 14% YoY to Rs 12,219 M & Signed TCV Deal Wins Of $ 231 M


* Strong cash flow generation with highest ever quarterly collections

Birlasoft, a part of the USD 2.8 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the third quarter ended December 31, 2022.

Mr. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “Our revenues for the quarter have grown 14% year-on-year and 2.5% quarter-on-quarter to Rs 12,219 million. Deal wins have also been strong at $231 million TCV for the quarter. We continue to strengthen our position as a domain and enterprise digital capability-led player. The business is fundamentally robust and we are making the investments necessary for future growth, which makes me confident about our outlook going forward.”

Other highlights

·         Signed deals of TCV $ 231 M during the quarter

o   TCV new deal wins of $ 102 M

·         Active Client Count at 299 in Q3

o   > $ 1 M customers at 83, up by 6 YoY

o   > $ 5 M customers at 24, up by 3 YoY

o   Top clients led growth - Revenue from Top 5, Top 10 and Top 20 clients grew YoY by 12.3%, 9.1% and 8.6% respectively

·         Cash & Cash equivalents of $ 121.1 M in Q3 FY23 versus $ 97.7 M in Q2 FY23

o   In Rs terms, cash and cash equivalents at Rs 10,015 M vs Rs 7,947 M; up Rs 2,068 M QoQ due to best ever quarterly collections reflecting the quality of services the company has been delivering

·         DSO continues to be best-in-class at 55 days

·         Manpower strength of 12,530 as at 31st December 2022 versus 11,945 a year ago

o   Net addition of 585 professionals YoY and net decline of 228 professionals QoQ

Deal wins for the quarter

·         Chosen by a leading US Energy & Utilities company for for renewal of Application Managed Services (AMS)

·         Selected by a US-based global engineering major for AMS and global support

·         Awarded business for a transformation program by a US customer in the Manufacturing vertical

·         Received a renewal from a Lifesciences & Healthcare customer for Governance Services

·         Awarded new business by a European design & manufacturing organisation for Cloud migration

Awards & Recognitions

·         Recognized by Microsoft as a Solution Partner for Infrastructure and Cloud workloads (Azure) and for Azure Data and AI

·         Recognized for Employee Transport Award at 7th Edition of the iNFHRA Workplace Excellence Conference & Awards 2022 - 23

·         Birlasoft’s Project Shodhan conferred with CSR Project of the Year at India CSR Summit 2022

·         Conferred with BTX Top Enterprise Award 2022 Asia at BTX Roadshow and Transformation Awards 2022 Asia

·         Birlasoft identified as a "Rising Star" in the Digital Business Enablement and ESG Services 2022' ISG Provider Lens™ Study - U.S.

·         Birlasoft identified as a "Leader/Rising Star" in the 'Oil and Gas Industry - Services and Solutions 2022' ISG Provider Lens™ Study - North America, Nordics            

·         Birlasoft recognized as a "Product Challenger/ Challenger" in the 'Oracle Ecosystem 2022' ISG Provider Lens™ Study - US, Brazil

·         Birlasoft recognized as a "Major Contender" in Everest Group's SAP Business Application Services PEAK Matrix® Assessment 2022 – Global

·         Birlasoft recognized as a “Disruptor” in Avasant’s Hybrid Enterprise Cloud Services 2022-2023 RadarView™

·         Birlasoft positioned as "Challenger" in Avasant's Blockchain Services 2022-2023 RadarView study

·         Birlasoft positioned as a "Product Challenger" in ISG Provider Lens study 'Healthcare Digital Services 2022'

About Birlasoft

Challenge The Norm

Birlasoft combines the power of domain, enterprise and digital technologies to reimagine business processes for customers and their ecosystem. Its consultative and design thinking approach makes societies more productive by helping customers run businesses. As part of the multibillion dollar diversified The CK Birla Group, Birlasoft, with its 12,500+ professionals, is committed to continuing its 161-year heritage of building sustainable communities. For further information, visit www.birlasoft.com.

Godrej Properties Limited (GPL) Announced Its Financial Results For The Q3 Ended December 31, 2022


Update for Q3 FY23 Results

·         GPL’s highest ever quarterly sales – Q3 booking value grew by 111% YoY to INR 3,252 crore and 9M FY23 bookings grew by 77% YoY to INR 8,181 crore

·         GPL’s best ever quarter for business development – 9 new projects with an estimated future booking value of 23,050 crore added during the quarter

·         Net Profit grew by 51% to INR 59 crore in Q3 FY23

Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2022.

CORPORATE HIGHLIGHTS:

Sales Highlights

·         Q3 FY23 witnessed total booking value of INR 3,252 crore and total booking volume of 4.42 million sq. ft.

·         4 new phase launches during the quarter

Other Highlights

·         27 awards and recognitions received in Q3 FY23

·         Credit Rating for Commercial Paper (CP) limits enhanced to INR 1,750 crore from INR 1,500 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively

Commenting on the  performance of Q3 FY2023, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

“Residential real estate demand in India has remained strong and we believe the cyclical upturn in the sector will gain further momentum in the years ahead providing significant opportunities for leading developers to participate in sectoral growth while also gaining market    share.

The two highlights in the third quarter were that GPL registered its best ever quarter for both sales bookings and business development. This leaves us well positioned to surpass our FY 23 bookings guidance of 10,000 crore and to sharply grow on this base in the years ahead.”

Financial Overview (Consolidated)

Q3 FY2023 performance overview compared with Q3 FY2022

·         Total Income stood at INR 366 crore as compared to INR 399 crore

·         EBITDA stood at INR 153 crore as compared to INR 115 crore

·         Net Profit stood at INR 59 crore as compared to INR 39 crore

·         EPS# amounted to INR 2.11 as compared to INR 1.40

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.

Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.

Hyundai Model Year 2023 SUV Range Now Comes With Reinforced Advanced Safety, Convenience Features & Eco-Friendly Engines


Highlights

Hyundai’s Model Year 2023 updates have further fortified segment leader CRETA with advanced standard safety features such as - 6 Airbags (Driver, Passenger, Side & Curtain), ESC, VSM, HAC, Rear Disc Brakes, Seatbelt Height Adjustment and ISOFIX

With Model Year 2023, ALCAZAR has now been equipped with 6-Airbags (Driver, Passenger, Side & Curtain) as standard

The Model Year 2023 VENUE will now be offered with the more powerful 1.5 l U2 CRDi diesel engine that now comes with VGT Technology and delivers a robust power of 85 kW (116 PS) and torque of 250 Nm (25.5 kgm).

VENUE is now equipped with 4-Airbags (Driver, Passenger & Side) as standard safety fitment on its major volume variants – S (O), SX & SX (O)

HMIL’s Model Year 2023 SUV range now features -

Idle Stop & Go (ISG) feature for enhanced convenience

RDE compliant eco-friendly engines that are also E20 fuel ready

Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and largest exporter since inception, today announced its Model Year 2023 (MY’23) SUV Range – VENUE, CRETA and ALCAZAR. The MY’23 updates for these models will feature enhancement of safety fitment, convenience functions and powertrain efficiency as well as performance.

Commenting on MY’23 SUV Range launch, Mr. Tarun Garg, Chief Operating Officer, Hyundai Motor India said, “As a customer centric organization, we have always strived to deliver exemplary mobility experiences for our customers. With the introduction of our MY’23 updates on Hyundai’s leading SUV range, we have ensured an even more wholesome package that encompasses safety, convenience and performance. Additionally, we are moving hand in hand with the Government’s direction and have ensured our powertrains are RDE compliant and E20 fuel ready. Thus with these new significant updates, Hyundai’s MY’23 SUVs - VENUE, CRETA & ALCAZAR will offer higher value proposition for our esteemed customers.”

SAFETY UPGRADES

As a part of the MY’23 launch, models such as CRETA and ALCAZAR have been equipped with a host of comprehensive Active and Passive safety features as standard. To ensure customers experience a robust blanket of protection for a confident driving experience, Hyundai has fortified CRETA with the following Key Standard safety equipment:

6 Airbags (Driver, Passenger, Side & Curtain)

Electronic Stability Control (ESC)

Vehicle Stability Management (VSM)

Hill-Start Assist Control (HAC)

Rear Disc Brakes

Seatbelt Height Adjustment

ISOFIX

Further, VENUE is now equipped with 4-Airbags (Driver, Passenger & Side) as standard safety fitment on its major volume variants – S (O), SX & SX (O). With the overall enhancement of its safety package offering on CRETA, VENUE and ALCAZAR, Hyundai is elevating customer experience with superior protection and drive control.

ENHANCED CONVENIENCE

In addition to safety package enhancement, HMIL’s MY’23 SUV range has also been equipped with Idle Stop & Go (ISG) feature. The smart ISG system enhances convenience offered to customers, while also boosting fuel efficiency of Hyundai SUV model range - during stop & go driving conditions. Further, CRETA has now been equipped with 60:40 Split Rear Seat as a standard feature as part of the new updates.

THRILLING PERFORMANCE

For an exhilarating driving experience, Hyundai VENUE will now be offered with the New & powerful 1.5 l U2 CRDi diesel engine with VGT Technology that delivers a robust power of 85 kW (116 PS) and torque of 250 Nm (25.5 kgm).

Furthermore, the MY’23 SUV range of HMIL will now come with even more eco-friendly engines that are E20 fuel ready and RDE Compliant.

About HMIL

Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). HMIL is India’s first smart mobility solutions provider and the number one car exporter since its inception in India. It currently has 12 car models across segments GRAND i10 NIOS, All New i20, i20 N Line, AURA, VENUE, VENUE N Line, Spirited New VERNA, All New CRETA, ALCAZAR, New TUCSON, KONA Electric and All Electric SUV IONIQ 5. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.

HMIL forms a critical part of HMC’s global export hub. It currently exports to around 85 countries across Africa, the Middle East, Latin America, Australia, and Asia Pacific. To support its growth and expansion plans, HMIL currently has 583 dealers and more than 1492 service points across India. In its commitment to providing customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D centre’s endeavour is to be a centre of excellence in automobile engineering.

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