Air India Announces The Appointment Of Ravindra Kumar G.P. As Chief Human Resources Officer

Air India has announced the appointment of Ravindra Kumar G.P. as Chief Human Resources Officer, reporting to CEO & MD Campbell Wilson.

Ravi will formally assume the role on 1 April 2024, succeeding Dr Suresh Dutt Tripathi who is retiring.

Following a long career with General Electric Company, the last four years of which as CHRO for South Asia, Ravi joins from Tata Motors Limited where he has held the role of President & CHRO since 2018. 

Announcing the transition, Campbell Wilson, CEO & MD of Air India, said: “We are delighted to have Ravi join the Air India team, and we look forward to his contribution to the next phase of our transformation journey.  At the same time as welcoming Ravi, we acknowledge the outstanding contribution of Suresh who, upon Air India’s privatization, answered the call and has played a vital role over the last two years.  We wish him well in his well-deserved and well-earned retirement.” 

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has built an extensive domestic network with non-stop flights to cities around the world, across the USA, Canada, UK, Europe, Far-East, South-East Asia, Australia, and the Gulf. After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022.

Air India is navigating through a major five-year transformation roadmap under the aegis of Vihaan.AI, with an ambition to become a world class airline with an Indian heart. The first phase of this transformation, the taxi phase was recently concluded, and focused on fixing the basics. These included bringing back to service many long grounded aircraft, addition of talent across flying and ground functions, rapid upgradation of technology and strengthening of customer care initiatives amongst others. A member of Star Alliance, the largest global airline consortium of leading international airlines, Air India offers seamless connectivity and facilities to passengers all over the world.

Embassy REIT Achieves Full Year Leasing Guidance of 6.5 M Sqft In 9 Months; Delivers Best Quarter with 3.5 M Sqft of Total Leases

·         Best leasing quarter achieved with 3.5 msf across 22 deals; 6.5 msf leased year-to-date meeting full year leasing guidance in 9 months

·         Three large pre-lease deals of 2.2 msf with leading multinationals, including a major Australian Bank, an American Retail Major and a US-based Tech company

·         Refinanced Rs 2,600 crores at an average 8.25%, including first-time issuance of commercial paper

·         Delivered distributions of Rs 493 crores or Rs 5.2 per unit

·         Public shareholding increased from 30% at IPO to 92% as of December 2023, resulting in a diversified unitholder register of marquee global and domestic institutions and an ever-expanding retail base

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2023.

Aravind Maiya, Chief Executive Officer of Embassy REIT, said, “It’s been a remarkable quarter for Embassy REIT. We’re pleased to announce that we’ve achieved our annual leasing guidance in just 9 months. As our 2.2 msf of pre-leasing to three renowned global companies demonstrates, India continues to be a thriving business hub for GCCs. As more and more multinationals set up their centres in India, their need for premium office spaces to house their talent will grow exponentially in the coming years. Our refinance of Rs 2,600 crores through a combination of instruments provides us increased flexibility in managing our debt portfolio. Lastly, the strength of our business is reflected by the excellent response of equity investors to the recent sponsor stake sale, which has resulted in an increase of our public float to 92% and a truly diversified blue-chip unitholder base.”

The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs 493 crores or Rs 5.2 per unit for Q3 FY2024. The record date for the Q3 FY2024 distribution is February 12, 2024, and the distribution will be paid on or before February 17, 2024.

Business Highlights

·         Record leasing of 3.5 msf across 22 deals, including 1.1 msf of new leases and three large pre-lease deals of 2.2 msf in Bengaluru with leading multinationals

·         Global Captive Centres (GCCs) in primarily BFSI, retail, and tech sectors accounted for over 78% of total leasing

·         90%+ occupancy levels across 50% of Embassy REIT’s properties

Financial Highlights

·         Revenue from Operations grew by 8% YoY to Rs 936 crores

·         Delivered distributions of Rs 493 crores or Rs 5.2 per unit

·         Refinanced Rs 2,600 crores at an average rate of 8.25% including first-time commercial paper issuance of Rs 1,000 crores; strong balance sheet with an industry-leading in-place debt cost at 7.8% and dual AAA/Stable credit ratings

Operational & Development Highlights

·         Development pipeline of 6.9 msf of which 90% is in Bengaluru at highly attractive yields of over 20%

·         Hotel portfolio continued to perform strongly with 55% occupancy, 19% YoY ADR growth and an EBITDA of ?50 crores

·         Included in the 2023 Dow Jones Sustainability Indices making Embassy REIT the first Indian REIT to be recognized for its sustainability initiatives by this leading global benchmark

Investor Materials and Quarterly Investor Call Details

Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) condensed standalone and condensed consolidated financial statements for the quarter and nine months ended December 31, 2023 (ii) an earnings presentation covering Q3 FY2024 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.

Embassy REIT will host a conference call on February 5, 2024 at 17:00 hours Indian Standard Time to discuss the Q3 FY2024 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 45.4 msf portfolio of nine infrastructure-like office parks and four city centre office buildings in India’s best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 35.8 msf completed operating area and is home to over 240 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under?construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT’s industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was also recognised as the world’s largest ‘USGBC LEED Platinum-Certified’ office portfolio (v4.1 O+M) by Green Business Certification Inc. For more information, visit www.embassyofficeparks.com.

MAHE And Vedan Trust Set The Stage For A Greener Future With Zero Waste Campus Agreement

Manipal Academy of Higher Education Bangalore in a bid to create a more sustainable & eco-friendly campus inked Memorandum of Understanding with Vedan Trust, and partner/ funder SVP India, to initiate making the newly developed campus a zero-waste site. This initiative will mark MAHE Bengaluru as a first private educational institution to do so.

The Zero Waste Campus project is one of many initiatives of the rewilding MAHE B’lru Task Force at the campus, to work towards long-term sustainability goals. The initiative is oriented towards reducing wet and dry waste generation inside campus, segregate any refuse and find the best opportunities to reuse, recycle, regenerate (through composting), and other modes. MAHE B’lru is committed to ensuring long-term sustainability of this and other initiatives through engaging students, staff and faculty in awareness and action-oriented programs and events, aligning with the UN Sustainable Development Goals 2030.

Commenting on the initiative, Dr Raghavendra Prabhu, Deputy Registrar, Manipal Academy of Higher Education, Bengaluru, says “Seeing the commitment and teamwork put into our mission to achieve the campus zero trash makes me incredibly proud. This project not only demonstrates our dedication to environmental sustainability, but it also emphasizes our role in forming responsible global citizens. Not only are we diminishing our ecological footprint through creative waste management techniques and the enthusiastic participation of our college community, but we are also cultivating an environmental stewardship culture that will extend well beyond our campus walls. Let's continue this revolutionary journey together toward a more sustainable and greener future”.

Suhasini Hathwar, Project Coordinator, Vedan Trust, said, “Simple act of dropping the waste in right bin saves natural resources and becomes the raw material for recyclers. We are glad that MAHE Bengaluru has taken the right step where they are ready to walk the talk.”

Attendees of the MoU from Vedan Trust included Secretary of Vedan Trust, Mr. Sathyanarana, and volunteers Ms. Suhasini and Mr. Rakesh. From SVP India were Mrs. Padmashree Balaram, and Ms. Sashi Rajamani.

MAHE representatives included Deputy Registrar Dr. Raghavendra Prabhu, Dr. Deepta Sateesh (Chair of the Rewilding Task Force), Dr. Navaneetha Krishnan, Dr. Shilpa (DLHS), Dr. Harini Santhanam, Dr. Harish (SPOC for the Zero Waste Campus initiative), Dr. Sunil John, Mr. Prashant (IT), Ms. Divyadarshini (Admissions), Mr. Gaurav (Admissions), Ishappa (Library), and other representatives from the faculty across campus.

Rotary Bangalore Midtown And Nucleus Office Parks Collaborate To Green Bangalore University Campus

In a significant initiative towards environmental sustainability, Rotary Bangalore Midtown, in collaboration with Nucleus Office Parks, who funded this project under their CSR initiative, undertook the ambitious task of planting 1000 saplings at Bangalore University  recently. This joint effort reflects the commitment of both organizations to contribute to the well-being of the community and the environment.

The tree plantation drive took place at the Bio-Diversity Park in the sprawling campus of Bangalore University, creating a green oasis that not only enhances the beauty of the surroundings but also promotes ecological balance. The event aimed to raise awareness about the importance of environmental conservation and engage the local community in fostering a greener and healthier environment.

The collaboration between Rotary Bangalore Midtown and Nucleus Office Parks highlights the power of public-private partnerships in addressing environmental challenges. Nucleus Office Parks, a leading player in the commercial real estate sector, demonstrated its commitment to corporate social responsibility by supporting this noble cause. The partnership showcases the potential for businesses to make a positive impact on the communities in which they operate.

Members of Rotary Bangalore Midtown actively engaged with the employees of Nucleus Office Parks and its Clients, Rotaractors and gardeners from Bangalore University, creating a sense of community involvement and shared responsibility. The event served as a platform for educating participants about the significance of forestation, the role of trees in mitigating climate change, and the long-term benefits of preserving green spaces within urban areas.

The 1000 saplings planted encompassed a diverse range of native tree species which included both fruit and flower bearing trees apart from the other species which were carefully selected to thrive in the local climate and soil conditions. This selection ensures the sustainability and adaptability of the newly planted green cover, contributing to the overall biodiversity of the region.

The tree plantation drive not only brings immediate environmental benefits but also holds the promise of long-term positive impacts. As the saplings grow into mature trees, they will provide shade, enhance air quality, and contribute to the overall well-being of the Bangalore University campus and its surroundings.

The joint effort of Rotary Bangalore Midtown and Nucleus Office Parks in planting 1000 saplings at Bangalore University exemplifies the potential for collaborative action in addressing environmental challenges. This initiative not only contributes to the greening of the university campus but also serves as a beacon of inspiration for sustainable practices and corporate social responsibility. The impact of this endeavour is expected to resonate for years to come, leaving a lasting legacy of environmental conservation and community engagement.

Honda Cars India Registers 11% Growth With 8681 Units Of Domestic Sales In January 2024

* Clocks highest ever monthly export volume of 4,531 units

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, registered monthly domestic sales of 8,681 units in January 2024. The export numbers for HCIL stood at 4,531 units in Jan’24.  

Commenting on the sales performance in January 2024, Mr. Yuichi Murata, Director of Marketing and Sales at Honda Cars India Ltd., said, “Entering the new year, our models have consistently contributed to our sales volume, reflecting a positive demand for our lineup. Honda Elevate maintains its strong performance, gaining growing preference and momentum month after month. Alongside Elevate, the unwavering success of the Honda City and Amaze has played a crucial role in sustaining our momentum.”

Honda Cars India Ltd had registered domestic sales of 7,821 units and exported 1,434 units in January ‘23.

About Honda Cars India Ltd.

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, was established in December 1995 with a commitment to provide Honda’s passenger car models and technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of-the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan. 

Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety, and fuel-efficiency. The company has a strong sales and distribution network spread across the country. 

Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country.

ORRA Unveils 2.5 Carat-Look Diamond Earrings For Every Celebration

Whether you find yourself attending ceremony or an evening soiree in your surroundings, ORRA has you covered with its newly launched 2.5-carat look diamond earrings, a perfect addition to elevate your style on this significant occasion. As India's Leading diamond destination, ORRA consistently keeps pace with festivities, unveiling timeless pieces for every celebration.

In a splendid homage to the nation's spirit, ORRA proudly introduces the limited edition 2.5-carat look diamond earrings, on the auspicious Republic Day. This launch not only embodies the harmonious blend of opulence and patriotism but also reflects ORRA's commitment to craftsmanship and unparalleled quality. Designed with meticulous attention to detail, the 2.5 carat look diamond earrings, from the Republic Collection exude timeless elegance, capturing the grandeur of the occasion.

The recently launched 'Aekta' - The Wedding Collection, a manifestation of the brand's deep Indian roots. Rooted in the cultural richness of Indian weddings, 'Aekta' transcends mere adornment, becoming a profound narrative of love, heritage, and luxury. From delicately crafted cocktail jewellery to opulent heavy sets, this collection reflects the evolving preferences of modern brides and her wedding party. Complementing these are other extravagant lines such as the Astra Collection, Desired Collection, and Platinum Collection and Crown Star featuring India’s brightest diamond.

Featured among these collections is ORRA's exquisite all-in-one box set, meticulously designed to captivate hearts on special occasions. This enchanting set comprises a stunning pendant and matching earrings, making it the ideal gift for birthdays, anniversaries, and the much-anticipated Valentine's Day. Explore our diverse range of offerings, from dazzling diamond necklaces adorned with colored stones to meticulously crafted box sets and the refined elegance of 2.5 -carat look diamond earrings.  

ORRA is known for providing 100% certified jewellery with complimentary insurance and free lifetime maintenance. The brand offers a lifetime exchange, buyback, and a seven-day return policy for conflict-free diamonds. Additionally, ORRA provides a 6-month upgrade facility, and all its jewellery is BIS Hallmark Certified.

As part of the ongoing Diamond Festival, and to make the Republic Day celebrations even more special, ORRA is offering special  discounts, for customers visiting the store: 

·       Up to 25% off on diamond jewellery (for a limited period) * 

·       0% interest on EMI facilities* 

·       Free Shagun Gold Coin on diamond jewellery purchase*

·       100% exchange value on old gold jewellery*

*Terms and Conditions apply 

About ORRA: 

The journey of a million gazes began in 1888 before it metamorphosed into ORRA. From sculpting and manufacturing diamonds to crafting and retailing the finest diamond and gold jewellery, ORRA has come a long way since its inception. Today, ORRA is one of India's finest diamond jewellery retail chains, having spread its glow with 84 stores in 38 cities and has consistently been at the forefront of design, leadership and product innovation with 5 global design centres. 

Master craftsmen who have inherited the centuries - old legacy of jewellery making, brilliantly cut Belgian diamonds, delicate designs in diamond jewellery, elaborate bridal sets in coloured stones, the 73-facet patented ORRA Crown Star, the one-of-its-kind ORRA store. These are just some of the facets that go into making ORRA - The Finest Diamond Destination. 

For more information, visit – https://www.orra.co.in 

Akshayakalpa Organic And Innovative Chess Academy Hosts Grand Chess Tournament In Bengaluru

~ Akshayakalpa Organic and ICA collaborate for a grand chess tournament at Silicon City Academy Of Secondary Education, Bengaluru, underscoring their commitment to making chess accessible to diverse communities ~

~ With 700 participants, a 3-day tournament with 9 rounds, and a 5 Lakh rupees prize pool, the event serves as a gateway to the Chess National Tournament in Jaipur ~ 

~The event aims to boost chess growth in Bengaluru, fostering inclusivity for players of all backgrounds ~

Akshayakalpa Organic, a champion of organic farming and sustainability, collaborated with the Innovative Chess Academy (ICA) to present a spectacular chess tournament between January 26th to 28th, 2024. The highly anticipated event took place at the esteemed Silicon City Academy Of Secondary Education in Bengaluru, providing a dynamic platform for chess enthusiasts to showcase their strategic prowess.

This thrilling tournament, utilizing the Swiss method of play with 9 intense rounds, brought together more than 700 participants over three action-packed days. The collaboration between Akshayakalpa Organic and ICA underscores their shared commitment to fostering intellectual sports and promoting the growth of chess within the community.

Shashi Kumar, Co-founder and CEO of Akshayakalpa Organic brings a unique passion to the tournament as an active chess player himself. Shashi Kumar, who has been supporting the game for over a decade, expressed his excitement, saying, "Chess has been a source of inspiration and growth for me personally. As an avid player, I understand the mental acuity and strategic thinking it requires. This tournament is not just a competition; it's a celebration of the chess community's spirit, where players learn, compete, and evolve together."

Shashi Kumar emphasized the significance of the collaboration with ICA, stating, "Our partnership with Innovative Chess Academy is rooted in a shared vision of making chess accessible to all. We believe in the power of chess to instill critical thinking skills, enhance concentration, and foster a sense of community. By joining forces, Akshayakalpa and ICA aim to create an inclusive environment where individuals from all walks of life can engage with and enjoy the game of chess."

The tournament, held at the Silicon City Academy Of Secondary Education, not only featured intense competition but also provided a conducive environment for learning and camaraderie among participants. With a total prize pool of 5 Lakh rupees, this event was a landmark occasion for the chess community in Bengaluru.

In addition to the substantial cash prizes, participants had the golden opportunity to secure a coveted spot in the Chess National Tournament scheduled to take place in Jaipur.

This tournament not only serves as a showcase for the strategic brilliance of local chess enthusiasts but also as a stepping stone for players to advance to national-level competitions. Akshayakalpa Organic and Innovative Chess Academy is proud to contribute to the growth of chess in Bengaluru and beyond.