SBI Card Launches “SBI Card MILES” For Travel Enthusiasts

~First travel-centric core card in SBI Card portfolio; offers power of travel rewards redemption, accelerated rewards, complimentary airport lounge access, and much more~

SBI Card, India’s largest pure-play credit card issuer, has launched three variants of its first travel-focused core credit card “SBI Card MILES”. The card is aimed at bringing holistic travel benefits to travellers of all kinds – travel aspirers to frequent fliers to travel aficionados. SBI Card MILES offers compelling features that include conversion of Travel Credits to Air Miles and Hotel Points, accelerated rewards on EVERY travel booking, and airport lounge access among others. Empowering cardholders with absolute choice of redemption, the card partners over 20 airline and hotel brands including Air Vistara, Air India, Spicejet, Air France-KLM, Etihad Airways, Air Canada, Thai Airways, Qantas Airways, ITC Hotels, IHG Hotels & Resorts, and Accor among others.

According to Mr. Dinesh Kumar Khara, Chairman, State Bank of India, “The strong economic growth and robust consumption landscape has accentuated India’s position in the world. Even in travel sector, today, India is considered amongst the key source markets for outbound travel in many countries including those in Asia and Europe. I congratulate SBI Card on the launch of SBI Card MILES, a strong product that will redefine the travel experiences for Indian consumers.”

It is evident that Indians are increasingly becoming open to more and varied travel experiences. The three variants, SBI Card MILES ELITE, SBI Card MILES PRIME, and SBI Card MILES, have been designed to elevate these experiences through curated travel benefits. Cardholders can earn up to 6 Travel Credits on every INR 200 travel spend and up to 2 Travel Credits on spending INR 200 on other categories. The offerings under ‘SBI Card MILES’ bouquet enable cardholders to carry out an easy and seamless Travel Credits redemption across multiple renowned flights and hotel partners. One can convert these Travel Credits into Air Miles/Hotel Points of respective partners or directly use them to book air tickets and hotel accommodations by visiting SBI Card mobile app or website https://www.sbicard.com/. Alternatively, one can redeem them on SBI Card’s Rewards Catalogue as well.

Speaking at the launch Mr. Abhijit Chakravorty, MD & CEO, SBI Card said, “Our customer-centric approach has always driven us to design innovative products, solutions, and services that address the evolving and diverse lifestyle needs and offer customers an extremely rewarding experience. Indian travellers are large global spenders and naturally, with increased and more robust travel plans, consumers are looking for curated benefits to enhance their travel experiences. SBI Card MILES is our endeavour to offer our customers the best of all the travel benefits. The card has been designed to become one true travel partner for the cardholders. We are sure that our cardholders will enjoy the exclusive benefits offered by our travel-centric core card.”

SBI Card MILES ELITE comes with multiple and varied spends milestone benefits. These include up to 5000 Travel Credits on reaching spends of INR 1 lakh in 60 days of enrollment; up to 20,000 Travel Credits on spends milestone of INR 12 lakh; and spends-based fee reversal on reaching spends milestone of INR 15 lakh.

With airport lounge access being an important part of the overall travel experience, SBI Card MILES ELITE offers Priority Pass membership. Using the card, cardholders will be able to enjoy up to 8 complimentary domestic lounge visits and up to 6 international airport lounge visits in a year. What’s more, the card also enables users to earn additional domestic lounge access. Every time a cardholder achieves the cumulative spends of INR 1 lakh, cardholders will receive 1 gift voucher for lounge access that can be used by either the cardholder or the guest.

Importantly, SBI Card MILES ELITE cardholders will also enjoy a low foreign transaction mark up of 1.99% and travel insurance cover. The card will be available on Mastercard and RuPay network. The joining and annual fees of SBI Card MILES ELITE is INR 4,999 plus applicable taxes while SBI Card MILES PRIME and SBI Card MILES have a fee of INR 2,999 and INR 1,499 plus applicable taxes respectively.

Consumer Housing Sentiment Index Robust; Strong Buyer Confidence And Rising Incomes Boost The Sector: Magicbricks Report

- Housing Sentiment Index (HSI) of India stands at 149, Ahmedabad leads at 163

- Within different age groups, mid-age (24-35 years) professionals show the highest HIS (154).

Despite inflationary pressures, the Housing Sentiment Index (HSI) across India remains robust with strong buyer confidence, observed Magicbricks, India’s leading real estate platform.

Based on preferences of over 4500 customers across 11 cities, Magicbricks launched its flagship Housing Sentiment Index (HSI) revealing a positive market outlook for the Indian residential real estate sector with an overall HSI of 149[1]. Ahmedabad emerged as the frontrunner with the  highest HSI of 163, closely followed by Kolkata (160), Gurugram (157), and Hyderabad (156), propelled by enhanced infrastructure and upcoming new real estate projects.

According to Sudhir Pai, CEO, Magicbricks, "The current scenario of India's real estate sector reflects the most promising conditions witnessed in the past decade, instilling confidence among homebuyers and investors nationwide. It's also noteworthy that the demand is consistently surpassing available supply, showing encouraging signs of swift absorption when new inventory enters the market.”

The report also identified that mid-age professionals (24-35 age group) demonstrated the highest HSI (154). Furthermore, consumers with annual income of Rs 10-20 lakh displayed strongest aspirations for home buying, with HSI of 156.

Elaborating on the same, Abhishek Bhadra, Head of Research, Magicbricks chimed “Our research indicates that homebuyers are demonstrating a notable willingness to invest up to four times their annual incomes, serving as a significant gauge of prevailing sentiment and overall optimism within the market. This outlook is supported by various factors, such as increasing incomes, consistent economic stability, and targeted government initiatives aimed at reinforcing the resilience of the real estate sector.”

The report also revealed that a majority of homebuyers intend to make a purchase within 3 years, reflecting a promising outlook for both the present and future of the real estate market.

Incedo Co-founder & CEO Nitin Seth Unveils His Latest Book ‘Mastering The Data Paradox’

Renowned technology entrepreneur, thought leader and best-selling author Nitin Seth today announced the release of his latest book, "Mastering the Data Paradox," published by Penguin Random House India. The book unveiling event featured an esteemed panel of industry luminaries, including Pravin Rao, Former CEO, Infosys; Arvind Rathore – CEO & President, ARIT; Sudhir Banerjee, SVP, Teva Pharmaceutical.

Nitin Seth who is the Co-founder and CEO of Incedo Inc, previously served as the Chief Operating Officer of Flipkart, Managing Director and Country Head for Fidelity International in India, and Director of McKinsey’s Global Knowledge Centre in India. He is also the bestselling author of "Winning in the Digital Age," which won 5 Best Business Book Awards globally.

In "Mastering the Data Paradox," Seth draws from his extensive three decades career leading transformative initiatives in business, digital, data, and AI for global organizations. The book is a comprehensive, yet simple and actionable guide aimed at helping individuals and enterprises unlock the true potential of AI by leveraging the transformative power of data.

The book delves into the many paradoxes of data - its potential for positive impact versus its overwhelming complexity. Seth advocates that mastering the data paradox is necessary, and he attempts to answer key questions such as why and how AI powered by data can create transformational value for enterprises and individuals, how individuals and enterprises can effectively deal with data paradoxes to unlock the transformational value of data and AI, and what principles we can learn from life and apply to data, and vice versa, as we navigate the new world of data-enriched lives.

"We are living in a transformative era where data and AI are redefining every aspect of our lives," said Nitin Seth. "This convergence holds immense promise, and 'Mastering the Data Paradox' provides a clear roadmap for individuals, enterprises, and nations to harness the power of data and AI to create a better future."

Mukesh Mehta, EVP and Chief Information Officer, AssetMark said, “Mastery of data is the lifeblood of any organization, regardless of industry vertical; and ironically, it is one of the most significant yet fundamental threats to those who do not find a structured approach to rein in its complexity. Nitin Seth’s first book, the bestselling Winning in the Digital Age, is now enhanced by the context of his personal passion and practitioners’ experiences in understanding the overlap of the strategic complexity of data and the value of a sound perspective to drive success in a digital world. Sometimes, of course, timing is everything, and with the proliferation of advanced data tooling and AI-driven disruption, Mastering the Data Paradox provides a foundation for understanding the historical context of the data explosion, and how to manage what Seth refers to as the “dark side of data” to deliver true value. Effectively, this is a guidebook to navigate the truism that “Big Data is only valuable if it leads to Big Decisions”, whether to enhance your work environment; or uniquely, how data can be leveraged to advance “digital detox” to improve your personal life!”

Within a week of its release, the book has been declared a "National Bestseller" by both Penguin and Amazon India. It has since ranked #1 in Hot New Releases and achieved #1 bestseller status across 4 categories on Amazon, reflecting the overwhelming response from readers.

The book has received widespread acclaim from top industry leaders, including David Cohen, Founder & Owner of Simcah Management; Ashish Chand, President and CEO of Belden Inc; Dhrupad Trivedi, CEO of A10 Networks, Inc.; Michael J. Ragunas, Chief Technology Officer of Cetera Financial Group; Mukesh Mehta, EVP & Chief Information Officer of AssetMark; Leo Puri, Senior Financial Services Executive, Advisor, and Investor; Dinesh Khanna, Managing Director and Senior Partner at Boston Consulting Group; Dr. Anurag Agarwal, Dean of Biosciences and Health Research at Ashoka University; Anurag Rana, Senior Technology Analyst at Bloomberg Intelligence; and Som Mittal, Former President and Chairman of NASSCOM.

"Mastering the Data Paradox" is available for purchase online on Amazon and at all major book retailers and online platforms.

For more information about the book please visit https://masteringthedataparadox.com/

Managed Farmland Startup -Aranyakaa Delivers Ten Expansive Projects In A Short Span Of 3 Years

Aranyakaa Farms has ascended to remarkable heights in less than 3 yrs, venturing into managed farmland industry with a vision of crafting sustainable residential retreats away from the urban clamor. Having successfully completed nine projects in a short period and with the 10th nearing completion, the startup expects to attract an additional 250 crores in investments over the next two years. These funds will primarily focus on expanding the land bank, developing land, and boosting agricultural operations. Since its inception, Aranyakaa Farms has experienced significant land appreciation and exhibited robust financial results, establishing itself as a leader in the farmland realty industry. The company has successfully managed transactions involving 600 acres of meticulously maintained farmland, achieving considerable growth and delivering land appreciation rates of 50-75% across all its projects.

Aranyakaa has been dedicated to identifying and revitalizing uncultivated land into prime agricultural assets, carefully selecting sites known for their natural beauty and integrating traditional farming with advanced agricultural technologies. The company employs innovative water harvesting techniques to create fertile lands that support biodiversity and utilizes cutting-edge surveillance technology, including CCTV and IoT devices, to offer clients real-time farm data directly on their mobile devices.

Their forthcoming tenth endeavour, nearing completion, encompasses a sprawling 61-acre initiative in Berigai, Sarjapur. This ambitious project encompasses multifaceted initiatives such as water conservation, establishing a food forest, adopting permaculture principles, and introducing animal husbandry practices. The upcoming project will also include key features like the construction of around 200 interconnected water ponds and a 3-acre man-made lake to harvest rainwater for sustainable long-term use.

"At Aranyakaa Farms, we prioritize actions that ensure a comfortable life for present and future generations," said Mr. Amit Porwal, Director, Aranyakaa Farms. "We aim to bring nature, nurture, and agriculture to those yearning for an escape from the concrete jungle. Our projects are designed to be environmentally friendly and self-sustaining, offering our farm owners a beautiful and comfortable retreat."

With a steadfast commitment to sustainability, they have developed more than 10 acres of man-made lakes across all their projects and integrated rainwater harvesting methods throughout. Their dedication to nurturing a greener future is evident in their afforestation initiatives, having planted upwards of 20,000 saplings across their properties. This concerted effort has not only transformed landscapes but also cultivated a community of over 400 satisfied customers, embracing a harmonious farm lifestyle.

Aranyakaa’s initiatives not only generate significant rural employment but are also designed to harmonize with natural surroundings, emphasizing environmental best practices and self-sufficiency. Demonstrating strong financial performance and a customer-centric approach since its founding, Aranyakaa Farms continues to create long-term value for its investors and leads the way in sustainable practices, modern amenities, and innovative solutions in the farmland realty segment, offering a future-oriented lifestyle that seamlessly blends farming with hospitality for maximized investor profits.

AET Displays Hosted Envision Brilliance Partner Meet 2024 In Bengaluru

* The event drew a crowd of over 150+ attendees, including distributors, SI partners, ground staff, sales representatives, pre-sales, after-sales personnel, government officials, corporate partners, and AV partners

AET LED Displays, a renowned industry expert in fine pitch LED displays, recently hosted the highly anticipated AET Envision Brilliance Partner Meet 2024 in Bengaluru on April 20th at Citadel Sarovar Portico. The event drew a crowd of over 150 attendees, including distributors, SI partners, ground staff including sales representatives, pre-sales, after-sales personnel, government officials, corporate partners, and AV partners.

The day-long event featured comprehensive product introductions, in-depth training sessions, and highlighted AET’s previous works, emphasizing mutual growth opportunities. Mr. Su Piow Ko, CEO at AET LED Displays India, delivered a keynote address, reaffirming AET’s vision and mission to the audience.

Speaking on the occasion, Mr. Su Piow Ko, CEO at AET LED Displays India, expressed, “In India, there’s a growing readiness across industries to embrace digital transformation, with LED displays becoming indispensable for tasks like data analysis, monitoring, and advertising. We’re keen to seize this opportunity. Unlike other OEM LED Manufacturers in India, we’re committed to establishing our assembly line as part of the Make in India initiative, thereby not only providing employment opportunities but also bolstering the local economy.  We are excited about the possibilities that lie ahead as we continue to collaborate and drive mutual growth with our partners in the Indian market. Our aim is to solidify our position among the top 3 players in the LED display segment in India in coming years.”

Mr. Prashant Srivastav, Head of Marketing - India, stated, “Hosting the AET Envision Brilliance Partner Meet 2024 in Bengaluru was a momentous occasion for us. It was an opportunity to engage with our valued partners, showcase our latest innovations, and reaffirm our commitment to delivering excellence in LED display solutions.”

Various sessions were tailored for different stakeholders, including Q&A sessions, feedback sessions, and round table discussions with key members in the boardroom. In the evening session, AET honored its esteemed partners with an award program, recognizing their outstanding contributions and dedication. Additionally, the company unveiled the AET Spark program ( Strategic Partner Alliance and Resource Kit ), aimed at fostering strategic partnerships and providing valuable resources such as certification, marketing collateral, and dedicated resource kit for after-sales and pre-sales activities.

AET Displays has rapidly expanded its presence nationwide. With over 50 products available, more than 2000 installations across the country, and a network of over 80 partners and distributors, AET is committed to providing comprehensive coverage and support to its customers. In addition, AET strategically operates an assembly plant, three offices, three customer experience centers, and five service centers across the country, guaranteeing extensive coverage and support for its clientele

About AET Displays

AET Displays Limited, established in 2015 and a member of the Guangda Group since 2019, is a leading manufacturer specializing in the design, production, and marketing of LED displays, with a particular focus on fine pitch displays. At the heart of AET lies a commitment to precision engineering and purposeful innovation, believing in the transformative power of visual communication to connect people and spaces. With a talented team dedicated to excellence in machinery, electrical engineering, and system design, AET creates displays that go beyond the ordinary, setting new standards in the industry. From Standard Fine Pitch to MiniLED and MicroLED Ultra FinePitch LED Display technology, AET’s displays exhibit unparalleled clarity, vibrancy, and versatility in design, captivating audiences worldwide. Renowned for relentless innovation and a dedication to surpassing expectations, AET Displays Limited is the preferred partner for businesses seeking unparalleled visual excellence in LED display solutions. To know more, please visit: https://www.aetdisplays.in/

Spokesperson Profile - https://www.linkedin.com/in/su-piow-ko-ba607337/

Company Profile - https://www.aetint.com/

Kanan Devan Unveils Experiential Kathakali-themed Consumer Engagement Campaign At Thrissur Pooram Festival

Tata Tea Kanan Devan, a prominent tea brand in the heart of Kerala proudly announces its engagement in the prestigious Thrissur Pooram Festival with an immersive consumer engagement initiative. Embracing the quintessential art form of Kerala, Kathakali, Tata Tea Kanan Devan invites consumers to embark on a journey of cultural immersion and brand resonance unlike any other.

The highlight of the activation is a dynamic setup featuring two digital screens within Tata Tea Kanan Devan's stall. One screen hosts a fortune wheel, where participants spin to reveal one of the nine "rasas" or facial expressions from Kathakali. The excitement heightens as participants are then challenged to emote the revealed rasa in front of a camera-equipped screen. Utilizing cutting-edge AI technology, the software swiftly identifies and matches the participant's expression with the reference image. Lucky winners will be gratified with Tata Tea Kanan Devan packs, enhancing brand recall in a truly memorable manner.

This culturally immersive experience was inaugurated by esteemed Kathakali artist Sadanam Krishnan Kutty, a recipient of both the Kerala Sangeetha Nataka Akademi Award (2002) and the Central Sangeet Natak Akademi Award (2006). Renowned for his portrayal of classical roles and contemporary Kathakali plays, Sadanam Krishnan Kutty's presence adds an unparalleled aura of authenticity to the event.

Mr. Puneet Das, President – Packaged Beverages, India & South Asia, Tata Consumer Products, expressed his enthusiasm for this unique consumer engagement, stating, "At Tata Tea Kanan Devan, we take pride in our deep-rooted connection to Kerala's cultural tapestry. Kathakali is a cultural emblem, ingrained in the social, cultural, and artistic life of the people. Through this immersive initiative, we aim to deepen the brand's connection with the people of Kerala while fostering a sense of local identity and pride in the state's unique art forms. As Tata Tea Kanan Devan continues to weave its narrative into the fabric of Kerala's cultural landscape, this activation serves as a testament to the brand's enduring commitment to celebrating local pride."

Mr. Sadanam Krishnan Kutty, the Kathakali maestro shared his thoughts on the event, remarking, "I am thrilled to be a part of Tata Tea Kanan Devan's celebration of Kerala's artistic heritage. This initiative beautifully showcases the deep-rooted connection between Kathakali and our cultural identity."

As Tata Tea Kanan Devan continues to weave its narrative into the fabric of Kerala's cultural landscape, this activation serves as a testament to the brand's enduring commitment to heritage and innovation.

Persistent Systems In-line Revenue; Weaker Margin Trajectory Leads To EPS Out

Persistent reported mixed performance in Q4 — revenue grew 3.4% QoQ CC, in line with our estimate, while margin of 14.5% (flat QoQ) missed it. Revenue growth still lopsided with HLS contributing ~94% of incremental revenue sequentially. Top client growth was impacted by a planned ramp down for the second consecutive quarter, while other large client growth was healthy. Deal wins TCV was USD447.7mn (1.4x book-to-bill), showing moderation with Q4 and TTM TCV up 6% and 12.6% YoY, respectively. Amid the challenging macros, the management aims for top-quartile growth in FY25E, while maintaining EBITM at FY24 levels. Company reiterated their medium-term target of improving EBITM by 200-300bps over the next 3 years. However, progress has been slow and target is shifted by a year; which is disappointing. Moderation in deal intake, Q4 performance, and slow progress on margin trajectory led to EPS cut of 5-6% for FY25-26E. Valuation remains rich even after today’s ~10% price correction. We retain REDUCE with a TP of Rs3,700/sh at 34x Mar-25E EPS.

Results Summary

Persistent’s revenue grew 3.4% QoQ (similar in CC) to USD310.9mn, broadly in line with our estimates. EBITM came in at 14.5% (flat QoQ), lower than our estimate of 15%. EBITM was flat sequentially due to one-time transition costs related to ramp up in large vendor consolidation deals (-110bps), addition of lateral hires at offshore (-50bps), and higher travel costs for planning and budgeting exercise for FY25 (-40bps). These were negated by reduction in earn out liability related to an acquisition (where performance did not meet expectations) and reversal of provisions (+200bps). Revenue growth was led by HLS (14.8% QoQ) and BFSI (1.8%), while Software, Hi-Tech, and Emerging Industries (SHTE) saw a decline of 0.7% QoQ (ex-top client: grew 1.8%). Top-client revenue declined 11% QoQ due to planned ramp downs. Top 2-10 clients saw a growth of 10.3% QoQ. Among geographies, North America, India, and ROW reported growth of 4%, 4.5%, and 47.8% QoQ, while Europe saw a decline of 9.3% QoQ. The company has announced a final dividend of Rs10/sh. What we liked: Steady revenue growth, heathy cash conversion (OCF/EBITDA: 76.9%). What we did not like: Margin miss.

Earnings Call KTAs

1) Demand environment has remained largely unchanged over the last few quarters and is not expected to improve materially anytime soon. 2) Company recently won large deals (including vendor consolidation), which have higher onsite proportion at the start, and have seen an increase in contractor spending along with lower utilization and higher travel costs. 3) HLS growth was driven by a large deal ramp up and well supported by multiple mid-sized deals. Overall environment has been difficult in BFSI, but the company has delivered growth aided by new deals. Hi-Tech is facing headwinds due to enterprise customers facing their own challenges and is likely to remain under pressure for the next few quarters. 4) FY25 growth is likely to be led by HLS followed by BFSI and SHTE. 5) Management aims to turn around performance in Europe, driven by both team reinforcements and M&A activities. 6) For M&A, Persistent is looking for tuck-in acquisitions in HLS and BFSI, which are at the cusp of data/AI. Within Healthcare, the company is targeting areas like Payer-Provider ecosystem, while in BFSI, it is focused on certain micro segments. In terms of geography, it is looking at a combination of Western Europe from a business perspective and Eastern Europe from a delivery perspective.