Capri Global Capital Disburses Rs 1,000 Crore Car Loan In Oct 23, Aims 10,000 Crores Of Disbursement By FY 23-24

~ The company has disbursed INR 5700 crore in car loan vertical in FY 22-23 ~ 

Capri Global Capital Ltd, a diversified non-banking financial company, has disbursed Rs 1000 crore car loans in Oct’23. The company has reported a remarkable surge in car loan disbursals and an all-time high record of disbursing 10,000 car loan cases in the month of October 2023. CGCL eyes to disburse loans worth Rs 10,000 crore in FY 23-24. Within 30 months of operations, the car loan distribution business has strategically scaled up its operations to encompass 722 locations, providing comprehensive coverage across 32 states and union territories in India. 

Speaking on this achievement, Mr. Rajesh Sharma, Managing Director of Capri Global Capital, said, "As of Q2 FY24, our car loan aggregation business accounts for 4500 crores. Since the launch in Q4 FY21, we have disbursed car loans worth Rs 13000 crore. The demand for car loans specially, for mid segment SUV’s are on the rise particularly in tier 2 and tier 3 cities. The company's commitment to inclusive lending practices has resulted in vast range of customers, ranging from entry level cars to premium car owners. We have enhanced our branch network and manpower strength by over 50% in these markets. Currently, 1800 employees are delivering exceptional car loan services to our patrons. Our recent achievement reinforces our position as undisputed leader and a trusted partner in car loans for banks and its clients. The significant milestone within a relatively short period of time stands as a testament to our unwavering commitment to excellence and our ability to adapt the evolving market demands". 

CGCL's commitment to expanding its services has been instrumental in its partnership with eight leading commercial banks, including Bank of Baroda, Union Bank of India, Indian Bank, Bank of India, HDFC Bank, Indian Overseas Bank, Punjab and Sindh Bank, and Yes Bank. These collaborations have not only strengthened CGCL's position in the market but have also enhanced the accessibility of car loans to a broader customer base. 

About Capri Global Capital Ltd: 

Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 700+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2023-24 for a second consecutive year. 

For further information,  visit:  www.capriloans.in  |  www.caprihomeloans.com 

Srinagar Smart City Takes The Green Route With Tata Motors Ultra EV electric buses

* The advanced electric buses are equipped with latest features to provide safe, comfortable and convenient travel

Tata Motors, India’s largest commercial vehicle manufacturer, announced that it has supplied the first batch of state-of-the art Ultra EV air-conditioned electric buses to Srinagar Smart City Limited, via TML Smart City Mobility Solutions (J&K) Pvt Ltd, a Tata Motors Group company. The delivery of the electric buses is a part of its larger order to supply, maintain and operate 100 electric buses in Srinagar and 100 electric buses in Jammu, for a period 12-years for Jammu and Srinagar Smart City projects. The collaboration is a part of an initiative of Housing and Urban Development Department, Government of Jammu & Kashmir to establish an environmentally and financially sustainable network of public transport for Srinagar. The zero-emission buses are indigenously built on a next-gen architecture, equipped with latest features, and powered by advanced battery systems. They are designed to provide a safe, comfortable and convenient intra-city commute across the city of Srinagar.

The fleet of e-buses was flagged off by Shri Manoj Sinha, Hon’ble Lieutenant General, J&K, Shri Arun Kumar Mehta, Chief Secretary, J&K, Shri Junaid Azim Mattu, Hon’ble Mayor, Srinagar, Shri Prashant Goyal, Principal Secretary, H&UDD, J&K, Shri Vijay Kumar Bidhuri, Divisional Commissioner, Kashmir & Chairman, Srinagar Smart City, Shri Prasanna Ramaswamy, Administrative Secretary, Transport Department, J&K, Shri Athar Aamir Khan, IAS, Commissioner, Srinagar Municipal Corporation & CEO, Srinagar Smart City along with delegates from Government of J&K, Municipal Corporation of Srinagar and Tata Motors.

Shri Manoj Sinha, Hon’ble Lieutenant Governor, J&K congratulated the citizens of Srinagar on the occasion. He said the electric buses will change the paradigm of public transport in the city. He added that it was part of broader integrated sustainable urban mobility for the city. He expressed gratitude to Hon. Prime Minister of India, Shri Narendra Modi for the unrelenting support to the Union Territory.

Sharing his thoughts at the flag-off event, Shri Prashant Goyal, Principal Secretary, Housing & Urban Development Department, J&K said, “J&K has embarked on a new phase of urban development which will ease the congestion on roads. Tata Motors has partnered with Srinagar Smart City Ltd for 12 years, which will help in improving the last-mile passenger transport system in Srinagar.”

Commenting on the occasion, Shri Athar Aamir Khan, CEO, Srinagar Smart City Ltd, said, “Srinagar Electric Bus Project is part of our integrated Sustainable Urban Mobility of the city. This is for the first time such a massive transformation in public transport is happening in Srinagar. This will help decongest the city, make reliable, affordable and comfortable public transport available to our citizens.”

Speaking at the momentous occasion, Mr. Asim Kumar Mukhopadhyay, Chairman, TML Smart City Mobility Solutions (J&K) Pvt Ltd, said, “In a time where sustainable public transport is the need of the hour, we are thrilled that Tata Motors has been chosen to provide a transformative solution to the commuters in the beautiful city of Srinagar. Our advanced electric buses incorporate cutting-edge features that not only redefine the way people travel but also ensure their safety and comfort through their journeys. We are not just providing electric buses; we are championing a shared vision with the Government of Jammu & Kashmir to offer eco-friendly, noiseless and emission-free transport solutions that align with the serene and pristine environment of this region. This marks a significant milestone in our ongoing commitment to safer, smarter and greener mobility solutions, and we look forward to playing a key role in shaping the future of public transport in Jammu & Kashmir."

Till date, Tata Motors has supplied more than 1,000 electric buses across multiple cities in India, which have cumulatively clocked more than 9.6 crore kilometres, with an uptime of over 95%. The Tata Ultra EV, is a cutting-edge e-bus that sets new benchmarks for urban city commuting. With its full-electric drivetrain, this state-of-the-art vehicle optimises energy consumption, resulting in low energy usage and operational costs. It offers features like ease of boarding, comfortable seating and driver-friendly operations, while ensuring zero emissions. Equipped with electronic stability control, electronic brake distribution, air suspension, Intelligent Transport System (ITS), panic button among other advanced features, it prioritises comfort and safety to its commuters. This electric bus embodies the commitment to cleaner public transport and is an ideal choice for urban passenger transportation needs.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups,  trucks, and buses, offering an 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 ranks among the top three in the passenger vehicles market.

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

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2023, Tata Motors’ operations include 88 consolidated subsidiaries, two joint operations, three joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.

HCCB Inaugurates Restored Lakes In Ramanagara

* Amavasya Kere and Thubin Kere's lake transformation will bolster agrarian communities and natural habitats

Hindustan Coca-Cola Beverages (HCCB), one of India’s leading FMCG companies, has successfully restored two pivotal lakes in the Ramanagara district, Amavasya Kere and Thubin Kere, which were dedicated to the local community today by Mr H C Balakrishna MLA, of Magadi constituency. These rejuvenated water bodies will revitalize the local agricultural landscape which had deteriorated over time, and bolster both agrarian communities and natural habitats.

Amavasya Kere and Thubin Kere, located to the east of Bidadi in the Ramanagara district, were once vibrant water bodies supporting the local agricultural sector and a diverse ecosystem. However, the region’s rapid development into an industrial and agricultural hub impacted their natural habitat. This altered land use negatively affected these lakes, causing a decline in their environmental health.

The restoration of the lakes, undertaken by HCCB, carefully addressed a number of challenges such as reduced water capacity from siltation, weakened embankments, unclear boundaries, invasive vegetation affecting the ecosystem and reduced habitat variety. HCCB countered these issues by de-weeding, desilting to increase capacity, reinforcing embankments, creating wildlife-supporting nesting islands, establishing water management trenches, installing groundwater recharge wells, and adding protective fencing for boundary preservation.

At the inauguration of the restored lakes in Thubin Kere, Mr H C Balakrishna, MLA of Magadi constituency, remarked, ". The remarkable restoration of these lakes, spearheaded by HCCB, showcases what dedication and vision can accomplish. We're not just replenishing water bodies; we're ensuring that our community and its natural surroundings flourish together. This initiative by HCCB is a beacon of hope and a testament to the power of dedicated action."

Echoing the sentiment, Mr Himanshu Priyadarshi, Chief Public Affairs, Communications & Sustainability Officer said " Our ethos at HCCB transcends business metrics; it's rooted in forging lasting positive change. The revival of Amavasya Kere and Thubin Kere underscores our unwavering dedication to the environment and the communities we are privileged to serve. Every step we take in this direction not only rejuvenates nature but also reinforces our commitment to fostering a harmonious coexistence with the land and its people."

Thanks to the recent southwest monsoons, the lakes are at full capacity, promising improved groundwater percolation, robust agricultural practices, and a vibrant habitat brimming with local wildlife.

HCCB continues to emphasize its commitment to sustainability and community empowerment through initiatives like this.

About HCCB

HCCB was incorporated on 14th February 1997. Since then, HCCB has come a long way in being able to serve 25 lakh retailers, 3,500 distributors, and 6,000 employees. 250,000 farmers grow the agricultural produce that HCCB uses in making its products. The company is headquartered in Bangalore and its operations are spread in 22 states, 3 UTs, and 376 districts in South, West, and Eastern India. Through its 16 factories spread across India, it manufactures and sells 60 different products across 7 categories. Its products include some of India’s most loved beverages - Coca-Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, Fanta, and a lot more.

Experience Elegance And Convenience With The New Godrej Eon Velvet 4-Door Refrigerator

* A Refrigerator With Shelves Open And A Refrigerator With Shelves Open

Upgrade your kitchen with the Godrej Eon Velvet 4-Door Refrigerator, a pinnacle of style and functionality providing versatile cooling options to suit diverse needs. With an impressive 670 litres large gross capacity, wider shelves, deep and easy-to-slide drawers, this fridge ensures ample space for all your food items making it an ideal choice for Indian families.

Its Convertible mode allows an extra zone that can serve as a freezer or fridge- with temperature customization possibility between -18°C to 5°C unlocking up to 81% fridge space, especially useful for days when the vegetable load is higher. The Super Freezer, Super Cool and Holiday mode options enable heavy-duty cooling and energy conservation respectively. Powered by Dual-Tech Cooling and Advanced Inverter Technology, this refrigerator offers efficiency, durability and silent operations. It also has a door alarm function alerting you when the door is left open.

Speaking about the newly launched 4-Door Refrigerator Anup Bhargava, Product Group Head- Refrigerators, Godrej Appliances said, “We are delighted to introduce Godrej Eon Velvet 4-Door Refrigerator that becomes the latest addition to our premium refrigerators’ portfolio. With a blend of advanced cooling features and multifunctional capabilities, this product is a testament to our dedication towards enriching the lives of consumers. We've created a masterpiece that not only enhances your kitchen aesthetics but also caters to a multitude of consumer requirements, prominently including the desire for expanded storage and convenience.”

Choose from two elegant colors, Graphite Black and Inox Steel, to elevate your kitchen aesthetics while enjoying the practicality and style of the Eon Velvet Refrigerator. This refrigerator is currently available at an MRP of Rs. 120,000/- across leading e-commerce platforms and offline pan-India stores.  

Meril Receives Prestigious WIPO National Award For Innovation In Medical Devices

Meril Life Sciences Pvt Ltd, a global Indian medical devices company has been awarded the World Intellectual Property Organization’s (WIPO) National Award for Inventors. The award, presented by the WIPO and the Indian Patent Office, is offered to organisations for inventions which are considered to be significant contributions to the economic and technological development of their countries. The award is a recognition of Meril’s notable work towards securing patents and commercialising them to boost manufacturing in India.

WIPO Director General, Mr. Daren Tang, underscored Meril's dedication to devising innovative medical products that address previously unmet clinical needs.

Mr. Vivek Shah, CEO, Meril group of companies said, "Receiving the WIPO National Award is an honour for us. It acknowledges our commitment to excellence and our relentless pursuit of innovative solutions that make a tangible difference in healthcare. At Meril, we always strive to push the boundaries of innovation in the medical device industry,"

The WIPO National Award for Inventors was launched in 1979 to stimulate inventive and innovative activity around the world and to recognize the contribution of inventors to national wealth and development.

About Meril:

Meril is a leading global medical device company based out of India. It has been instrumental in making India a leader in the global medical devices industry. Through its dedication towards innovation, quality, the company has revolutionised healthcare in India and made a significant impact globally. The company leverages global collaborations and cutting-edge technology, while emphasising on quality control and compliance with global regulations and contributing to a robust research and development ecosystem. Meril has successfully positioned India as a hub for medical device innovation and manufacturing, enhancing the country’s credibility and visibility on the global stage.

Godrej Properties Limited Consolidated Financials for Q2 FY24 Results

•                     Bookings grew by 109% to INR 5,034 crore

•                     Total Income grew by 75% to INR 571 crore and net profit grew by 22% to INR 67 crores.

•                     Added 3 new project with a total estimated booking value of ~INR 3,825 Crore 

•                    Projects aggregating ~1.55 million sq. ft. delivered in Q2 FY24 

Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarter ended September 30, 2023.

CORPORATE HIGHLIGHTS:

Sales Highlights

•                    Q2 FY24 was GPL’s highest ever quarterly sales witnessing total booking value of INR 5,034 crore with 5.24 million sq. ft. of area sold during the quarter.

•                    Godrej Tropical Isle, Noida was GPL’s most successful ever launch achieving a booking value of INR 2,016 crores from 1.51 million sq. ft. of area sold

•                    Godrej Parkland Estate, Kurukshetra was GPL’s most successful plotted launch achieving a booking value of INR 628 crores from 1.39 million sq. ft. of area sold.

•                    7 new projects/phases were launched during the quarter

Business Development

•                    Added 1 new plotted development project in Nagpur with an estimated booking value of INR 725 crore. This is in addition to two group housing projects with an estimated value of INR 3,100 crore announced in July and mentioned in Q1 quarterly update.

Other Highlights

•                    Collections grew by 23% to INR 2,378 crore in Q2 FY24, leading to net operating cash flow of INR 811 crore in Q2 FY24 

•                    Delivered ~1.55 million sq. ft. across 2 markets in Q2 FY24 

•                    GPL received 37 awards in Q2 FY24 

Commenting on the performance of Q2 FY2024, Mr. Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said:

“The residential real estate sector in India has been very strong and resilient over the past two years and we believe the real estate cycle will continue to strengthen over the next few years.  The significant levels of business development we have executed over the past several years provides us the opportunity to maximize the growth opportunities available in the market and our topmost priority is bringing these projects to market in the upcoming quarters.

We saw strong demand for our new launches this quarter and we are delighted with the response to our project, Godrej Tropical Isle in Noida which received bookings of more than INR 2,000 crores within the quarter making it GPL’s most successful ever launch. We remain on-track to exceed our bookings target of INR 14,000 crore in FY24 and are confident of also delivering our best ever cash collections and project deliveries.”

Financial Overview (Consolidated)

Q2 FY24 performance overview compared with Q2 FY23

•                    Total Income grew by 75% to INR 571 crore as compared to INR 327 crore

•                    EBITDA grew by 76% to INR 167 crore as compared to INR 94 crore

•                    Net Profit grew by 22% to INR 67 crore as compared to INR 55 crore

•                    EPS# amounted to INR 2.40 as compared to INR 1.98

#not annualised

H1 FY24 performance overview compared with H1 FY23

•                    Total Income grew by 169% to INR 1,886 crore as compared to INR 702 crore

•                    EBITDA grew by 88% to INR 396 crore as compared to INR 210 crore

•                    Net Profit grew by 91% to INR 192 crore as compared to INR 101 crore

•                    EPS# amounted to INR 6.90 as compared to INR 3.62

#not annualised

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 400 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.

KITKAT Launches New Premium Range With Three Rich And Indulgent Variants

~ Celebrates launch with campaign featuring Anushka Sharma~

KITKAT has expanded its portfolio with the launch of a new premium range of three rich and indulgent variants. The three variants – Rich, Dark and Caramel Coated Wafers offer delicious chocolate coating on layers of crispy cocoa wafers.

To celebrate the launch, the brand has developed a new campaign featuring actor Anushka Sharma. Conceptualized by Wunderman Thompson, the new campaign will go live on TV and digital, along with an outdoor plan.

Commenting on the launch of the new range, Rupali Rattan, Director, Confectionery Business, Nestlé India said “This is an important foray of KITKAT into the premium segment as we constantly try to innovate and bring joy to our consumers. The new range comes in three delicious variants which will provide variety and multiple offerings to choose from. We are delighted to have Anushka Sharma as the ambassador of our new premium range. We feel her persona reflects the brand and is a perfect fit to launch our new premium offerings.”

The new ambassador for KITKAT’s Premium range, actor Anushka Sharma, said, “I am happy to be associated with an iconic brand like KITKAT. This new premium range offers a truly indulgent experience. I am confident that everyone will love the rich and delicious breaks with this new KitKat range.”

This new range of KITKAT premium will be available pan-India, with prices ranging from Rs.70 to Rs.180 in three delectable variants of Rich, Dark & Caramel Coated Wafers.

New campaign starring Anushka Sharma: https://youtu.be/7gSnGgO_DCw?si=cfNrNuX-d8xiBlYl