Kotak Mahindra Bank Standalone PAT For 9MFY24 Rs 9,648 Crore, Up 30% YoY

* Q3FY24 Rs 3,005 Crore, Up 8% YoY

* Consolidated PAT for 9MFY24 Rs 12,876 crore, up 24% YoY

* Q3FY24 Rs 4,265 crore, up 7% YoY

The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2023, at the Board meeting held in Mumbai, today.

Kotak Mahindra Bank standalone results

The Bank’s PAT for 9MFY24 increased to Rs 9,648 crore from Rs 7,444 crore in 9MFY23, up 30% YoY. PAT for Q3FY24 stood at Rs 3,005 crore, up 8% YoY from Rs 2,792 crore in Q3FY23.  Q3FY24 results for the Bank include Rs143 cr provision (post tax) on applicable Alternate Investment Fund (AIF) investments pursuant to RBI’s circular dated December 19, 2023.

Net Interest Income (NII) for 9MFY24 increased to Rs 19,084 crore, from Rs 15,449 crore in 9MFY23, up 24% YoY and for Q3FY24 increased to Rs 6,554 crore, from Rs 5,653 crore in Q3FY23, up 16% YoY. Net Interest Margin (NIM) was 5.22% for Q3FY24.

Fees and services for 9MFY24 increased to Rs 5,998 crore from Rs 4,861 crore in 9MFY23, up 23% YoY and for Q3FY24 increased to Rs 2,144 crore from Rs 1,695 crore in Q3FY23, up 26% YoY.

Operating profit for 9MFY24 increased to Rs 14,126 crore from Rs 10,201 crore, up 38% YoY and for Q3FY24 was Rs 4,566 crore, up 19% YoY (Q3FY23: Rs 3,850 crore).

Customers as at December 31, 2023 were 4.8 cr (3.9 cr as at December 31, 2022).

Advances (incl. IBPC & BRDS) increased 19% YoY to Rs 3,72,464 crore as at December 31, 2023 from

Rs 3,13,154 crore as at December 31, 2022. Customer Assets, which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes, increased by 17% YoY to Rs 4,00,759 crore as at December 31, 2023 from RS 3,41,733 crore as at December 31, 2022.

Unsecured retail advances (incl. Retail Micro Finance) as a % of net advances stood at 11.6% as at December 31, 2023. (9.3% as at December 31, 2022).

CASA ratio as at December 31, 2023 stood at 47.7%.

Average Current deposits grew to RS 59,337 crore for Q3FY24 compared to RS 56,372 crore for Q3FY23 up 5% YoY. Average Savings deposits grew to RS 1,23,227 crore for Q3FY24 compared to ? 1,18,442 crore for Q3FY23 up 4% YoY . Average Term deposit up 43% YoY from RS 1,51,470 crore for Q3FY23 to RS 2,16,344 crore for Q3FY24.

ActivMoney was launched in Q1FY24 and TD sweep balance grew 13% QoQ (non-annualised) to RS 41,784 crore.

As at December 31, 2023, GNPA was 1.73% & NNPA was 0.34% (GNPA was 1.90% & NNPA was 0.43% at December 31, 2022). The provision coverage ratio stood at 80.6%.

Capital Adequacy Ratio of the Bank, as per Basel III, as at December 31, 2023 was 21.2% and CET I ratio of 20.1% (both including unaudited profits).

Consolidated results at a glance

Consolidated PAT for 9MFY24 increased to RS12,876 crore from RS 10,359 crore in 9MFY23, up 24% YoY and for Q3FY24 was Rs 4,265 crore, up 7% YoY from Rs 3,995 crore in Q3FY23. Rs 12,876 crore from Rs10,359 crore in 9MFY23, up 24% YoY and for Q3FY24 was Rs 4,265 crore, up 7% YoY from Rs 3,995 crore in Q3FY23.

*Q3FY24 results for the Bank include Rs143 cr provision (post tax) on applicable Alternate Investment Fund (AIF) investments pursuant to RBI’s circular dated December 19, 2023.

At the consolidated level, the Return on Assets (ROA) for Q3FY24 (annualized) was 2.46% (2.76% for Q3FY23). Return on Equity (ROE) for Q3FY24 (annualized) was 13.83% (15.04% for Q3FY23).

Consolidated Capital Adequacy Ratio as per Basel III as at December 31, 2023 was 22.2% and CET I ratio was 21.2% (both including unaudited profits).

Consolidated Capital and Reserves & Surplus as at December 31, 2023 was Rs 1,25,039 crore (Rs 1,07,670 crore as at December 31, 2022). The Book Value per Share was Rs 627.

Consolidated Customer Assets which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes grew by 19% YoY from Rs 3,79,820 crore as at December 31, 2022 to Rs 4,51,524 crore as at December 31, 2023.

Total assets managed / advised by the Group as at December 31, 2023 were Rs 5,33,365 crore up 32% YoY over Rs 4,05,269 crore as at December 31, 2022. The Domestic MF Equity AUM increased by 44% YoY to Rs 2,29,168 crore as at December 31, 2023.

The financial statements of Indian subsidiaries (excluding insurance companies) and associates are prepared as per Indian Accounting Standards in accordance with the Companies (Indian Accounting Standards) Rules, 2015. The financial statements of subsidiaries located outside India are prepared in accordance with accounting principles generally accepted in their respective countries. However, for the purpose of preparation of the consolidated financial results, the results of subsidiaries and associates are in accordance with Generally Accepted Accounting Principles in India (‘GAAP’) specified under Section 133 and relevant provision of Companies Act, 2013.

About Kotak Mahindra Group

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL).

Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.

Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 31st December, 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,869 branches and 3,239 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, please visit the Company’s website at https://www.kotak.com

CEAT Launches Steel Rad Tyres For High Powered Motorcycles In Two Variants - SPORTRAD And CROSSRAD

·         New Steel Radial Motorcycle tyres will offer new levels of handling and grip on all terrains

·         Signs up Geoffrey Emmanuel as its first brand ambassador in racing as CEAT forays into the world of motorsports

CEAT, a leading tyre manufacturer, has taken the performance of its two-wheeler tyre range to a higher level with a new range of steel radial tyres, SPORTRAD and CROSSRAD. This premium range of steel radial tyres is specially crafted to unleash the full potential of high performance motorcycles. The SPORTRAD series is designed for high speed and cornering; while the CROSSRAD is a multi terrain high grip tyre.Steel Rad tyres feature a steel-belted radial construction, providing superior handling at high speeds.

The CROSSRAD series is compatible with motorcycles such as Yamaha FZ Series and Suzuki Gixxer Series and priced at INR: 4,300 for the set of tyres.

The SPORTRAD series is compatible with High performance motorcycles such as KTM RC390, Duke 390 Bajaj Dominar 400, TVS Apache RR310 and is priced at INR: 12,500 for the set of tyres.

The SPORTRAD platform is equipped with equidistant midcrown grooves for enhanced cornering stability, and a silica-blended tread compound for a perfect balance of stiffness. These tyres deliver a sporty performance that exceeds expectations. Incorporating advanced features like slick shoulders for extreme lean angles, an optimized groove design for superior wet grip and cornering stability, and a maximized slick area at the crown for stability at speeds up to 270 kmph, the SPORTRAD series ensures an unparalleled riding experience.

The CROSSRAD platform features an asymmetrical block tread design and transversal grooves placed along the circumference of the tyre which combine to provide superior grip in gravel/mud and other off-road terrains. Additionally, the interconnected shoulder blocks offer a wider contact area for an enhanced cornering grip. With the uniquely shaped centre blocks and a steel-belted radial construction, the CROSSRAD series offers a much superior handling experience for offroad enthusiasts.

Mr. Arnab Banerjee, MD & CEO, CEAT, commented, “Steel Rad series is a testament to CEAT's commitment to innovation and quality. With the Steel Rad series, we are introducing a new era of motorcycle tyres that combine cutting-edge technology with a passion for performance. We understand the unique needs of riders with high-performance bikes, and these tyres are designed to meet and exceed their expectations. From extreme lean angles to high-speed stability, every aspect has been meticulously crafted to enhance the riding experience."

Mr. Lakshmi Narayanan B., Chief Marketing Officer, CEAT, said, "At CEAT, we understand the passion for precision performance. This is our answer to riders who demand the best from their machines. These tyres are about delivering tangible results on the road. The steel radial construction offers rock-solid stability and responsive handling. Whether it’s for track days, weekend getaways, or your daily commute, these tyres ensure performance and unparalleled reliability on the road."

CEAT Steel Rad tyres are meticulously designed for the performance segment of motorcycles. The road-biased SPORTRAD platform, with an 80:20 on-off road bias, will be initially launched in two sizes: 110/70ZR17 and 150/60ZR17. The CROSSRAD platform, with a 60/40 ON-OFF split, currently offers one size - 140/60R17.

CEAT invites riders, enthusiasts, and industry professionals to explore the Steel Rad series, now available at authorized CEAT dealerships across India.

Brand Ambassador Announcement:

In a monumental move into the world of motorsports, CEAT proudly announces Geoffrey Emmanuel as its first brand ambassador in racing. Geoffrey, the first Indian rider to compete in the FIM Junior World Championship riding in MOTO3, is working towards participating in the MotoGP World Championship starting from India MotoGP Bharat in September 2024. His journey signifies CEAT's commitment to supporting and endorsing exceptional talent in the world of motorcycle racing.

About CEAT Ltd (www.ceat.com):

CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high-performance tyres, catering to various segments like 2-3 Wheelers, Passenger and Utility Vehicles, Commercial Vehicles and Off-Highway Vehicles.

About RPG Group (www.rpggroup.com):

RPG Group, established in 1979, is one of India’s fastest-growing business groups with a turnover of US$ 4.4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation-led technology businesses.

Indian Immunologicals Ltd (IIL) Rolls Out India’s First Indigenously Developed Hepatitis A Vaccine “Havisure®”

* India Achieves Self-Sufficiency For Hepatitis A Vaccine, True Example Of Atma Nirbhar Bharat

Indian Immunologicals Ltd (IIL) a wholly owned subsidiary of National Dairy Development Board (NDDB) and a leading biopharmaceutical company in India marks a historic moment in public health with the launch of India’s first indigenously developed Hepatitis A vaccine “Havisure®”. The vaccine represents a significant step forward in India's fight against Hepatitis A and is poised to make a substantial contribution to public health. 

The new vaccine, Havisure®is the result of extensive research and development efforts by IIL's dedicated team of scientists and researchers. This indigenously developed vaccine is poised to play a crucial role in preventing Hepatitis A, a highly contagious liver infection that poses a significant public health challenge. Hepatitis A is a viral infection primarily spread through the fecal-oral route, meaning that it is transmitted through the ingestion of contaminated food or water. 

This Novel Vaccine launch event was held today at Hyatt Place, Hyderabad. Chief guests were Shri Nagaraj Karpan, MLA and Shri Ajay Mishra, IAS-Chairman Indian Redcross Society, Telangana. 

Speaking on the occasion, Dr. K Anand Kumar, Managing Director, Indian Immunologicals Ltd shared "The launch of Havisure® is a testament to our commitment to advancing healthcare solutions for the nation. Currently Hepatitis A vaccines are imported into our country and as a true meaning of Atma Nirbhar Bharat, IIL has tirelessly put in efforts and developed India’s 1st vaccine for Hepatitis A. The vaccine Havisure® has undergone extensive clinical trials in 8 centers and has proven to be safe and efficacious. The vaccine is comparable to the world’s leading vaccine sold by a multinational. With Havisure®, we aim to contribute significantly to the prevention of this infectious disease. IIL launching three vaccines in a single year is itself a big achievement and full credit to my team.” 

“Havisure” is set to play a crucial role to protect against the Hepatitis A virus, which primarily affects the liver. The vaccine is effective in preventing the disease and is recommended for children in the routine immunization. It is a two-dose vaccine wherein the first dose is administered at above 12 months of age and the second dose is given at least after 6 months of the first dose. The vaccine is also recommended for individuals who are at risk of exposure or travel to the regions with high hepatitis A prevalence. In addition to this people with occupational risk of infection and suffering from chronic liver diseases also need Hepatitis A vaccination. 

Discussing on manufacturing capabilities of IIL, Dr. Priyabrata Pattnaik, Dy. Managing Director-IIL said, “The company has considerably invested in state-of-the-art manufacturing facilities to scale up production and meet the growing demand for Hepatitis A vaccine. As part of the launch, IIL will be collaborating with healthcare professionals, corporate hospitals, and government agencies to promote awareness about Hepatitis A and the importance of both paediatric, adolescent & adult vaccination”. 

About Indian Immunologicals Limited (IIL): 

Indian Immunologicals Limited (IIL), a wholly owned subsidiary of National Dairy Development Board (NDDB) is the market leader in veterinary and human biologicals in India. It manufactures over 150+ products. For more information on IIL, visit www.indimmune.com. 

Close To 1400 School Athletes Competed In Multi-Sports On Day 4 Of The SFA Championships In Bengaluru

 ·         Athletes competed in six sports - Badminton, Skating, Volleyball, Basketball, Tennis, and Football - all in one day

·         Badminton and skating witnessed highest athlete participation, with close to 300 matches on the badminton courts, and close to 30 races in the skating rink

An action packed Day 4 of the SFA Championships in Bengaluru unfolded with multiple sports, showcasing a combination of grit, determination and commitment by athletes, across the city. The Padukone Dravid Centre for Sports Excellence (PDCSE) took center stage, with the commencement of Badminton, Volleyball and Basketball matches, while the Force 1 Skating Rink witnessed the thrilling kickoff of skating competitions.

On the commencement of Badminton at the Championships, Prakash Padukone, Founder, Padukone Sports Management shared, "All that we need to do is give a child a ground to play, and then see their passion for sports soar higher. Enabling a sporting platform for school athletes to compete in diverse sports, SFA Championships is a great step in discovering future potential. During our times, we could only watch other players and learn to get better. With the SFA Championships, emerging athletes can now get an early exposure to coaches, professional stadiums and plan their careers in sports. At the Padukone Dravid Centre for Sports Excellence (PDCSE), we are glad to be supporting this grassroots movement shaping the country's  landscape in sports".   

Basketball finals of U-11 girls and boys brought the courts to life with spirited competition. The U-11 Basketball final witnessed an impressive victory by Vidyashilpa, who dominated the court against Greenwoods, with a remarkable score of 14-0. Volleyball semi-finals in the U-16 and U-18 boys categories kept spectators on the edge of their seats with intensive sporting battles. At the skating rink, competitions kicked off from U-7 to U-17 categories, with participants gliding with impressive manoeuvres in pursuit of victory.

Filled with pride, Chirag S. Gowda's father, witnessing his son's success in skating, shared, “We're extremely happy that Chirag won a silver medal in the U-7 category for 200m quads and a gold medal in the 400m quads (U-7 category). His mother, who is a national-level netball player, is his inspiration in sports. This was our first experience at the SFA Championships, and the well organised structure and support made it a seamless and an enjoyable experience. I believe that such platforms play a crucial role in motivating children to move forward in sports.”

Football action continued, featuring knockout rounds for U-14 Boys and quarter finals for U-16 Boys. Simultaneously, the Tennis quarter finals were held for boys in the category from U-10 to U-16, along with the U-14 Boys (Doubles) final, adding intensity to the atmosphere.

Demonstrating the power of sport in transforming the society, Day 5 will celebrate female athletes participating at the SFA Championships in Bengaluru, as part of the 'She is Gold' initiative. Day 5 also promises to surge in excitement as Football (U14, U16 & U18), Tennis, Badminton, Volleyball, and Basketball gear up to captivate audiences with intense competitions.

The daily schedule, detailed results of each sport's competition, will be available on – www.sfaplay.com. For real-time updates, highlights, and exclusive behind-the-scenes moments, follow our social media channels – Facebook, Instagram, Twitter

SFA Championships is poised to make sports accessible for school athletes across the country, thereby empowering today’s talent to become the Champions of tomorrow. The journey to represent the country at the Olympics, is what SFA Championships is enabling for emerging athletes. 

About Sports For All (SFA)

Sports For All (SFA)?is India's?largest tech-enabled multi-sport grassroots competition platform. The vision is to make youth fall in love with sports through inspiring and joyful sporting experiences.?Founders?Rishikesh Joshi and Vishwas Choksi,?since the inception of SFA in 2015, have determinedly focused on transforming and mobilizing school sporting championships in the country, by providing an inclusive, diverse, safe, and best-in-class platform for the youth to realize their fullest potential through sports.

SFA Championships, SFA’s flagship IP, brings forth the potential of large-scale multi-sporting competitions propelled by tech and data analytics. Being?phygital?in nature, the SFA Championships have today become the backbone of identifying sporting potential at the grassroots level. In 2023, SFA has pledged to encourage 2 lakh athletes to participate at 9 SFA Championships, across the cities of Indore, Dehradun, Jaipur, Hyderabad, Pune, Mumbai, Bangalore, Delhi and Ahmedabad, to determine the “number one school in sports”, in each city.

With a technology-led approach at its core, SFA enables the entire grassroots sport ecosystem via SFAPLAY.COM, a platform designed to empower and connect all stakeholders via statistics, data, analytics, match videos, content, performance management, and competition management systems.

SFA is the leading sports entrepreneurial venture empaneled with the Sports Authority of India (SAI). We have been the “official partner” of the Indian Olympic Association, enabling support for Indian contingent to the Tokyo Olympics, 2020; Birmingham Commonwealth Games, 2022; Asian Games, 2022. SFA has been an integral team at the 36th National Games, Gujarat, 2022, the 37th National Games, Goa, 2023 and editions of Khelo India Youth Games in Haryana, Pune and Guwahati. In the year 2023, SFA signed on as the “powered by” sponsors for the Khelo India Youth Games, for the next five years.

Stay tuned as we transform the school sporting ecosystem?www.sfaplay.com

The 10’000th Made-in-India Volvo Car Rolls Out At Its Bangalore Facility

Volvo Car India has reached the milestone of having produced ten thousand cars in India at its Bangalore facility. It was in 2017 that the company commenced assembly operations with the ever-popular XC90 being the first car to be assembled and rolled out. Till date the highest production has been of the XC60 with 4000+ numbers. The honour of being the ten thousandth car goes to the company’s first Pure electric offering the “XC40 recharge”.

“It is indeed a matter of pride for the company to have reached this milestone in short span of time in spite of nearly three years of pandemic disruptions. The steady increase of capacities at Bangalore reflects our commitment to India’s luxury mobility segment. The honour of being the ten thousandth car goes to our first Pure electric offering, XC40 Recharge which continues to showcase consumer confidence. I am beholden to Volvo Car India’s entire ecosystem that has made this milestone possible” said Mr. Jyoti Malhotra, Managing Director, Volvo Car India

“Rolling out the ten thousandth car is indeed a major milestone for our plant. Since 2017 we have been increasing our capacities to meet customer demand and have also continuously undertaken skill upgradation leading to the successful assembly of EVs. Our plant also holds the proud distinction of having rolled out India’s first domestically assembled EV our XC40 Recharge” said Mr. Gao Feng, Production Head, Volvo Car India

The manufacturing facility in Hoskote near Bengaluru commenced assembly of Volvo cars in 2017. The company today locally assembles all its models in India namely XC90, XC60, S90, XC40 Recharge and the recently launched C40 Recharge.

Volvo Cars in India

Swedish luxury car Company Volvo established its presence in India in 2007 and has since then, worked intensively to market the Swedish brand in the country. Volvo Cars currently markets products through 25 dealerships in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi NCR – South Delhi, West Delhi, Gurgaon, Hyderabad, Indore, Raipur, Jaipur, Kochi, Kozhikode, Kolkata, Lucknow, Ludhiana, West Mumbai, South Mumbai, Pune, Raipur, Surat, Vishakhapatnam and Vijayawada.

Teeing Up Excitement: BMW Golf Cup 2024 Held In Bengaluru

* The largest international tournament series for amateur golfers

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

* #BMWGolfCup2024 #DrivenByPassion #BMWGolfSport #BMWIndia #SheerDrivingPleasure

BMW India held the India edition of the largest amateur golf tournament – The BMW Golf Cup 2024 in Bengaluru. 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 later in 2024.

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.

An exclusive, invitation-only event, the BMW Golf Cup 2024 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 2024 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.

Centricity Expands Its Footprint Into The South Market With A New Office In Bengaluru

* Since started operations in April 2023, Bengaluru will be the 6th office alongside Gurugram, Mumbai, Agra, Lucknow and Kanpur offices

Centricity, a Gurugram-based wealthtech startup, proudly announces the grand inauguration of its new office in Bengaluru, expanding its footprint into the south market. Strategically located on the bustling Church Street, it will cater to a diverse set of requirements in wealth management and financial product distribution across the region. Centricity has started hiring select talent across a range of capabilities and is welcoming new hires in Bengaluru.  Since Centricity started operations in April 2023, it has created a vast network of more than 1600 financial product distributors across 12 states and 15 cities, onboarding over 2000 clients.

Highlighting the strategic significance of the Bengaluru office, Anirudh Mahanot, Founding Team Member and Business Head (South & West India) at Centricity, expressed, "Bengaluru is a pivotal market for us, and this new office represents our commitment to innovation. With this new office we are aiming to reach more people and bridge the gap among Investors, Wealth Managers & Asset Managers. Our tie-up with IIT Madras research park is working on specialized modules to integrate elements of AI and ML to make this platform efficient.”

Founding Partners, Manu Awasthy (CEO) and Gaurav Tiwari, along with senior team members Vinayak Magotra, Arpita Hegde and Abhay Mishra, and Centricity team graced the event. The Bengaluru office will be led by Anirudh Mahanot and his dedicated team, including Attaur Khan (Branch Manager, Bangalore) and Shankar PA (Branch Manager, Bangalore).

Centricity’s “OneDigital” is India’s first tech-enabled multi-asset class, multi-product platform that enables MFDs to access a comprehensive digital financial product listing, execute transactions digitally and deliver multi-product and multi-advisor client portfolio reports seamlessly. It also equips MFDs with tools such as goal planning, a learning & development library, portfolio analytics and more.

Centricity's second platform, "INVICTUS," caters to single-family offices, UHNI, and corporate treasuries with portfolios exceeding 100cr. INVICTUS serves as an insight’s engine, simplifying investment management processes and offering holistic reporting, investment reckoner, portfolio scanner, liquidity profile, and performance tracking.

Having also achieved ISO27001:2022 and RIA licence, Centricity has ambitious plans for the upcoming year, including expanding business development teams, adding tech talent, achieving ESG compliance. Initiatives such as setting up a support call centre, applying for broking licenses, conducting many more distributor partner roadshows, and offering mortgages for distributors are also in the pipeline.