Thursday, February 28, 2013

Kerala Industrialists disappointed with the budget

Kochi 28th February 2013: Leading industrialists from the state expressed the feeling that the Union Budget 2012-13 presented by the Finance Minister P Chidambaram
in the parliament failed to address the core issues facing the

A majority of the 30 odd industrialists who participated in the budget
viewing session organized by the Confederation of Indian Industries
(CII) expressed their disappointment over the main proposals of the

CII (Kerala) vice chairman C J George said that “given the seriousness
of the economic context in which the budget is presented, the finance
minister did not have sufficient measures for revitalizing the economy
and its growth”. Though he tinkered with the economy here and there
the proposals like the taxing of the super rich and the tax on
corporates etc will have a relatively dampening effect.

He said that the proposal to make mutual fund agents members of the
stock exchange was a surprise element in the budget. He said that the
commodity exchanges and the commodity market could take a beating due
to the commodity transaction tax (CTT).

Mr Shyam Srinivasan of Federal Bank described the proposal to start a
women’s bank as a “headline item”. He however said that the interest
subvention on agricultural loans that was extended to cover private
sector banks would help to increase agricultural finance in a state
like Kerala where private sector banks are strong.

Mr Shivdas B Menon of Sterling Farms said that the proposal to
increase allocation for the coconut replantation scheme will help
Kerala. Coir industry will also benefit due to the incentives given to
handmade coir carpets.

Sanjay Vijayakumar, managing director MobMe said that the incubation
centres will benefit due to the proposal to allow companies donate to
such centres as part of their CSR activities.

Inclusive and Growth-Oriented Budget: CII President Focus on Fiscal Consolidation a Welcome Signal: Adi Godrej

CII has welcomed the Budget 2013-14 as a growth-oriented Budget that would kickstart the next cycle of investment. Coming in the backdrop of challenging global and domestic macro-economic conditions, the Budget makes laudable efforts to optimise growth drivers while addressing inclusive and sustained development. CII is happy that many of its suggestions have found mention in the Budget.

“The Budget meets most of our concerns regarding fiscal consolidation, investment incentives, and inclusive growth. These are in alignment with CII’s submissions in its pre-Budget Memorandum to the Finance Ministry,” said Mr Adi Godrej, President, CII. Fiscal deficit has been maintained below the target at 5.2% for 2012-13 and at 4.8% for 2013-14.

Mr Godrej added, “Budget 2013-14 promises to adhere to the fiscal deficit roadmap as laid out by the Finance Minister last year. This will boost growth, curtail inflation and help in ratings. Emphasis on agriculture, technology and innovation and science and technology is very welcome as it adds to future growth prospects.”

CII particularly welcomes the stress placed on inclusive growth and development. Plan expenditure has been raised by almost 30%, and inflationary pressures due to supply side measures are sought to be dampened. This would encourage further monetary steps to lower interest rates which would spark investments. The expenditure on education and healthcare has been increased substantially, while skill development has received a big boost. This is in line with CII’s emphasis on enhancing human talent capacities.

The slide in investments and savings, particularly household savings, would be arrested through targeted measures. Investment allowance of 15% in plant and machinery was a key recommendation from CII and should incentivise corporates to undertake new projects. For savings, positive steps have been taken to encourage household savings in the financial instruments, especially capital markets and low-cost housing. This would add to investible resources, noted the CII press release.

CII is happy to note that the Budget aligns with its recommendation for not making changes to the indirect tax rates, which would have deepened the slowdown in industry. On the other hand, industry would welcome the possibility of a consensus emerging on GST and the new tax being implemented soon, as mentioned by the Finance Minister in his speech. CII feels that the implementation of GST would add upto 2 percentage points to GDP growth rates.

CII welcomes the measures announced to increase investment in the infrastructure and the energy sectors. These include measures on the financing side such as allowing tax free bonds of upto Rs 50,000 crore and the operation of infrastructure debt funds. In addition, the Finance Minister has promised to address specific bottlenecks in sectors such as roads and oil and gas.

The measures to encourage micro, small and medium enterprises should go a long way in helping these firms to scale up and invest in technology. The three-year extension of non-tax benefits after a unit attains medium size would encourage growth and employment creation.

However, CII believes that introduction of Commodities Transaction Tax could impact non-agriculture commodity transactions adversely. In the oil and gas sector, shift from cost recovery to revenue sharing is of concern as it could hamper exploration in remote areas. 

The target of raising nearly Rs 56,000 crore by way of disinvestment is welcome and CII hopes initiatives will be taken to spread the issues throughout the year. Overall, the Finance Minister has done a commendable job in raising revenues wherever possible and allocating the expenditure judiciously.

Wednesday, February 27, 2013

Rockstand announces the winners of “My First Book at ROCKSTAND” contest

New Delhi, India, 27th February 2013 – Rockstand, eBook and eMagazine application on Mobile & Tablet announced the winners of “My First Book at ROCKSTAND” contest. Mr. Vishnuvardhan from Chennai and, Miss. Kimberly Rowe from Mumbai emerged out as the winners of the contest, they have written on the topic My Rendezvous with God and My First Love respectively. Winners from junior category are Ayush Bakshi for topic ‘My Rendezvous with God’ and Udbhav Kansal for ‘Meri Kahani Photo ki Zubani’.

Rockstand received more than 5000 entries across India and the writers included from all the age groups.
Not only winners but other best entries are also published in Rockstand platform. Winners from junior category were awarded during the New Delhi World Book Fair.

Announcing the winners, Mr. Praveen Rajpal, Founder & Director, RockASAP Retail Pvt. Ltd said “We are extremely delighted to receive such a great response from writers across the country. India is a country which has immense talent and we are proud that we created a platform for the writers to showcase their talent at Rockstand. In a few weeks the winner’s piece will be published on Rockstand and seeing this huge response we are now dedicating ourselves to the cause of ensuring that people realize their dreams of being a writer by making this an annual event. We would also like to thank our eminent jury members and will look forward to their support and presence in the forthcoming contest of ‘My first book at ROCKSTAND’.”

Rockstand has seen a great turnaround of the book lovers during the recently held New Delhi World Book Fair. Rockstand tied-up with almost 80 publishers and witnessed more than 5000 download of the app in the book fair.

The eminent jury member for My First Book at Rockstand included Dr Chandan Mitra, Managing Director & Editor, The Pioneer, Arindam Mukherjee, Senior Assistant Editor, Outlook, Prabhjot Singh, Chief of Bureau, The Tribune, Ritwik Mukherjee, Senior Assistant Editor, Financial Chronicle, Navneet Mendiratta, Deputy Editor - Exotica, The Pioneer, R Srinivasan, Associate Editor, The Hindu Business Line, Onkar Sharma, Assistant Editor, Dataquest, Varun Bhansali, Output Editor at NDTV, Satya Brahma, CEO & Editor-In-Chief, Network 7 Media Group, Rajeev Ranjan Jha, Editor, Nivesh Manthan, Bipin Chandran, Editorial Consultant, Exchange4Media Group, Stavan Desai, Executive Editor, Divya Bhaskar and Arun Arora, Group Head and EVP, Corp Comm – GVK.
With this contest, Rockstand forays into the world of ‘Self Publishing’, which is expected to revolutionize the whole world with its unique concept and opportunities lies for budding writers. With this contest, Rockstand has opened new avenues for many writers who are willing to write, no matter they have formal training or not, and publish their work. By digitally publishing their book, they will get an opportunity to showcase their work on a global platform and get recognition for their work.


ROCKSTAND is very first eBook and eMagazine application on Mobile & Tablet platforms in India which does more than JUST BOOK READING! It has been designed to cater to the needs of publisher, readers and techno enthusiast, all over the world. ROCKSTAND is supported by multiple platforms’ like Android, IOS, Windows (Blackberry, Symbian and others are coming soon). Besides, one can carry 400-600 eBooks at a time and can read any of them according to mood and preference. This app aims to curtail piracy as the ebooks and magazines on this platform are Non-transferrable, cannot be printed or copied with a zero possibility of taking a screen shot therefore making it absolute piracy proof. ROCKSTAND comes with automated bookmark, annotations, day & night mode features and many more attractive features.
About RockASAP, an initiative by handygo Technologies is India’s First Mall-on-Mobile service which allows Mobile users to ‘shop on the move’. Handygo Technologies introduced keeping in mind the increasing number of mobile users and their changing buying and reading habits. an M-commerce platform enables mobile users to shop for their favorite brands through their mobiles Anywhere, Anytime.’s search engine empowers users to search products from over 5000 products in various categories wherein the customers can select the product and place the order through a secure payment get-away or cash on delivery option which gets delivered within 3 working days. The application is available on GPRS enabled mobile handsets and IVR services. For more information visit

Tuesday, February 26, 2013

L&T Construction Wins Orders Valued `1504 Cr

Mumbai, February 27, 2013: L&T Construction has secured new orders valued over `1504 crores across various business segments in Feb’2013.

The Water & Solar Business has bagged new orders both in domestic and international markets. The Company’s Water and Effluent Treatment Business has won orders valued over `621 crores. Under the Design Build and Operate (DBO) model, L&T Construction will construct a sewerage network and waste water treatment facility for Bhatpara Municipal Town – a project of the Kolkata Metropolitan Development Authority.

Another order is from the Kolkata Municipal Corporation for the construction of 110 MGD raw water pumping station, raw water transmission main, 50 MGD water treatment plant and clear water pumping station at Kolkata. On the international front, the company has secured an additional order from Qatar for its ongoing project for re-use and waste water treatment.

L&T Construction’s Solar Business Unit, the largest EPC player in solar power projects in India, has won new EPC orders worth `413 crores from Kiran Energy for the construction of Solar PV plants in Tamil Nadu.

In the Power Transmission & Distribution business, L&T construction has won a new order worth ` 265 crores from the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) for power distribution work across various districts in Tamil Nadu.

In the Heavy Civil Business, various additional orders worth `205 crores have been secured from ongoing projects.

Tuesday, February 19, 2013

Indian Association of Amusement Parks & Industries bestows five national

Bangalore, 18th February, 2013: Wonderla Holidays Limited, India’s largest and safest

amusement park has received five national awards for Excellence at the Indian Association of

Amusement Parks & Industries (IAAPI) Expo, held recently in New Delhi this year.

Wonderla was conferred awards in the category of “Most Innovative Ride & Attractions”,

“Total Number & Variety of Rides” “Electronic Media Promotion” and a runner up award in the

category of “Print Media Promotion”. Additionally a special award, in the category for “Energy

saving by using solar photo voltaic cells” was also bestowed to Wonderla. The amusement parks

of Wonderla in Bangalore and Kochi are the only ones in India that leverage solar technology

thereby making available eco friendly rides to its visitors. Both the parks have adopted several

eco-friendly ‘Go –green” and save nature initiatives to ensure that it doesn't inflict any harm to

nature either polluting the environment or exploiting natural resources.

Speaking on the occasion, Mr. Arun K Chittilappilly, Managing Director Wonderla, said, “We

express our gratitude to IAAPI for honoring us with these awards. It is our constant endeavor

to provide the best facilities, rides and attractions to all our visitors. We believe in bringing the

best in entertainment industry as many of our rides are state-of-the-art and cannot be found

anywhere in India. The Indian amusement park is still evolving and the future holds exciting


An ideal destination for a perfect family get away, the south India based Wonderla Holidays

limited is significantly ramping up its operations and entering in to new business areas. In recent

times, Wonderla has announced its large scale expansion plans including the company’s plans

to enter the hospitality and expanding the amusement park business.  Wonderla is planning a

capex of more than Rs 300 crores for the Hyderabad amusement park.

The Indian Association of Amusement Parks & Industries [IAAPI] is an apex body representing

the interests of a diverse range of amusement and leisure business in India. Home to variety of

thrilling, breath taking, awe inspiring dry rides and refreshing clean water rides, Wonderla has

received accolades and awards from IAAPI in the past as well.

About Wonderla Holidays limited

Wonderla, India’s favourite amusement park operator is operating two of India’s biggest

amusement parks, Wonderla Bangalore and Cochin. Wonderla Bangalore is over 82 acres of

land is located just 28kms from Bangalore. Wonderla Cochin is spread over 40 acres located

just 16km outside Cochin. Wonderla Kochi has been set up in 2000 with an investment of 72

Crores and Wonderla Bangalore was set up in 2005 with an investment of Rs 109 crores. Many

of the rides have been custom made and imported from reputed international suppliers, making

them unique in India. Wonderla parks have been visited by over 165 lakh people since 2000

making them the most visited amusement parks in India. Wonderla also has the best safety

record for parks of this size and are both ISO 14001 and OHSAS 18001 certified. Wonderla’s

latest venture is the Wonderla Resort, an 84 room luxury resort spread over 1,00,000 sq ft near

the amusement park in Bangalore.

Pepper Creative Awards 7th Edition Deadline on March 15

Kochi: The Advertising Club Cochin & Pepper Creative Awards Trust jointly announced the 7th edition of

Pepper Creative Awards, the largest creative awards in South India and the second largest in India. Call

for entries have been sent to all ad agencies in South India. A panel of eminent personalities from India’s

creative world will evaluate the entries for Pepper- 2013. The last date for the receipt of the entry is March

15, 2013.

The four-member panel comprising – Mr. Prathap Suthan, Managing Partner/Chief Creative Officer at

Bang In The Middle; Ms. Priti Nair, Director & Founder Curry-Nation; Mr. Raj Nair, Chief Creative Officer,BMB India, Mr. RAJIV RAO, National Creative Director, Ogilvy & Mather will be the members of the jury for Pepper 2013. “The four persons have proven credentials in heading juries of similar nature at national and

international levels”, said Oommen Kurian, Chairman, Pepper Creative Awards Trust.

“We are expecting more than 2000 entries for the competition which has become a stepping stone

for creative fraternity from this part of the world to take part in other major peer reviewed national

and international competitions”, said Sandeep Nayar, President, Advertising Club Cochin. All leading

advertising agencies from South India will take part in Pepper-2013, a unique event when luminaries from

South Indian creative fraternity come to a single platform evaluating and celebrating the success and

challenges in professional manner, he added.

The competition will be open to categories such as Agency of the Year Award, Advertiser of the Year, Art

Director of the Year, Copywriter of the Year, Special Jury Award, Campaign of the Year, Press Campaign,

TV Commercial, Corporate AV, Outdoor, Radio, Interactive – Web-based, viral, film craft, POP, Direct

Mailer, Photography, Packaging, Logo Design, Unpublished works, PR and Promos. The seventh edition of

Pepper will also have an exclusive section for participants from Kerala: under category like Jewellery, Real

Estate, Textile, Hospitality, Ayurveda and Others.

The winners will be presented with Gold, Silver and Bronze awards and certificates. The much-awaited and

glamorous awards function complete with sizzling stage performances will be held at Le Meridien Cochin

Space Frame on April 12, 2013 at 6 pm

Advertising Club Cochin having more than 600 members is organizing Creative Award function for the past

17 years. Besides the Creative Award Function, the Club regularly organizes seminars and workshops to

enhance the creative abilities of advertising professionals in Cochin. Mr. Lakhman Varma (Secretary, Ad

Club, Kochi), Mr. T.Vinaykumar (Secretary, Pepper Creative Awards Trust) and Mr. P.K.Natesh (Chairman,

Pepper Awards 2013) also attend the press meet. For more details : P K Natesh, 98460 50589

Peerless MF introduces Cash Investments facility in partnership with Allahabad Bank

Trivendrum Feb 20, 2013: In an industry pioneering move, Peerless Mutual Fund has introduced the

option of investing using cash in retail mutual fund schemes through select Allahabad Bank branches.

This is in accordance with to SEBI’s guidelines of allowing cash investments by investors up to Rs.20000 /

- per investor, per mutual fund, per financial year.

Making the announcement on the partnership and the new facility, Mr. Akshay Gupta, MD and CEO,

Peerless Funds Management Company said, “Peerless Mutual Fund aims to cater to un-banked

customers in tier III and tier IV locations through this facility. Allahabad Bank has a strong presence

in these markets and synergy of both organizations will help customers, who wish to take advantage

of the growing capital markets through our well performing schemes. The cash purchase facility is

available immediately at select Allahabad Bank branches and will be further extended gradually to

2500 branches across India.”

Investors can choose to invest in Peerless Income Plus Fund, Peerless Child Plan, Peerless Equity Fund

and Peerless Short Term Fund. The combination of cash investments coupled with non-requirement of

PAN for such investors, being less than Rs. 50,000, will widen the reach of mutual funds amongst semi-

urban / rural segment.

About Peerless Mutual Fund

Peerless Mutual Fund is one of the fastest growing MF companies in India. The company is sponsored

by The Peerless General Finance India Co Ltd, a diversified business group with mainstay in Financial

Services and is the first mutual fund company headquartered in Eastern India - Kolkata.

The company started its operation in February 2010 and has managed to build up an AUM size of over

Rs 5,000 Cr in less than 3 years of time. The company has presence in 38 locations with geographical

focus on semi-urban and rural areas to tap retail investors.

Monday, February 18, 2013

Dubai Hit FM RJ Nyla to Play Mammmootty's Heroine in National Award Winner Salim Ahmed's Kunjanthande Kada

Mammootty and Nyla
Dubai: Kunjananthande Kada, the second film by Salim Ahmed, the director of Indian national award winner Adaminte Makan Abu, will have Dubai Hit FM RJ Nyla to play the heroine to the superstar Mammootty. The crew was reported to be on for a heroine hunt for long as they wanted a fresh face to play the role.

The film with its Kannur background, one of the northern districts of the south Indian state of Kerala known for its typical slang and style of talking, will have Mammootty, famous for his dubbing finesse, for the first time speaking in Kannur slang. Salimkumar who won the national award for his title role in Salim Ahmed's debut will also play a major role in Kunjananthande Kada (Kunjananthan's Shop).

As the title denotes, Mammootty plays the role of Kunjananthan who runs a grocery store. The plot revolves around the couple who are never in harmony in their wedlock. Oscar winner Rasool Pookkutty will be looking after the sound recording which will be using the sync sound technique. Produced by Allans Media, the movie will have a lot of new faces. Madhu Ambat, the renowned cinematographer who worked for Adaminte Makan Abu, will be behind the lens.

Thursday, February 14, 2013


To witness around 61 companies recruiting for around 4000 positions ~

Cochin, February 14, 2013: In an effort to bridge the unemployment gap in the country, Indian Institute of Job Oriented Training (IIJT), one of India’s fastest growing career skills training institutes and a subsidiary of TeamLease Services, is planning to organize a day long job fair in the city on February 16th 2013. Hosted at the IIJT centre, the event is expected to see active participation from candidates as well as companies. The fair will witness around 61 companies, recruiting for more than 4000 available positions. 
Further apart from prominent companies in the IT sector, the job fair will also witness a host of banking and retail companies scouting for talent. A day long initiative, the job fair is open to any candidate who has passed 12th standard and above. 

Location: IIJT Education Pvt. Ltd.,Door No. 39/6800 C-3,5th Floor, Vallamattam Estate,Ravipuram, M.G. Road, Cochin - 682015

Day: 16th Feb, 2013

Time: 10 am

About IIJT
Indian Institute of Job Training [IIJT] is one of India’s fastest growing career skills training organization with a capacity of over 1 lakh concurrent students in courses. Started in 2006, IIJT is the fastest growing educational brand in the country with over 100 centers across the country. IIJT offers short term and long term courses in the areas of Finance, Information Technology, Retail and Sales & Marketing. The TeamLease and IIJT strategic alliance aims to help bridge the employability gap and support the industry’s demand for skilled manpower.
About TeamLease
TeamLease Services (TeamLease™) is India's largest staffing company and has been spearheading the Staffing revolution in India for more than seven years now. In this short span of time, TeamLease has deployed more than half a million candidates, and in doing so, it has emerged as one of India's largest private sector employers. The company currently has over 65,000 employees on its rolls, in over 700 locations across the country, working for more than 1,200 clients. In a recent acquisition, TeamLease has acquired a substantial majority stake in the Indian Institute of Job Training (IIJT).

Wednesday, February 13, 2013

ICICI Bank Marinde Drive Branch Opened

Mr. Joy Alukkas, Group Chairman & Managing Director of Joyalukkas, iangurted the Marinde Drive branch of ICICI Bank on 11.02.2013 in the presence of Regional Head Mr. Eby Abraham, Cluster Manager Mr. Binu Joseph and the  Branch Manager Mr.Rakesh.

Tuesday, February 12, 2013


Kochi, 12th February 2013: Gateway Distriparks (Kerala) Limited (GDKL) has
commenced full-scale CFS operations at Kochi on 12th February 2013. GDKL is a
subsidiary of Gateway Distriparks Ltd (GDL). The company, which had started partial
operations in May 2012, is now well positioned to tap the robust trade opportunity
at the International Container Transshipment Terminal (ICTT). The Vallarpadam
Container Terminal and GDKL’s Container Freight Station (CFS) will help promote
EXIM trade in the region. ICTT, operated by DP World, has the potential to be one of
the largest container terminals in India and is expected to make a significant change
in the way maritime trade is conducted in the country.

GDKL’s CFS, located opposite to ICTT, is spread across 6.5 acres. The CFS has
warehousing facilities measuring 10,000 sq ft and storage facilities for handling
around 4,000 TEUs per month. The CFS will continue to provide a separate area for
Customs Authorities to inspect cargo on wheels. These combined facilities, along
with the CFS’s proximity to ICTT, will primarily help in lowering transaction costs for
importers and exporters and strengthen the trade.

GDKL, incorporated in 2006, is a joint venture between GDL (60%) and Chakiat
Group (40%). GDL is one of the largest players in the container logistics industry
with CFSs at Mumbai, Chennai, Vizag & now Kochi and rail-linked ICDs (Inland
Container Depots) near Gurgaon (NCR) & Ludhiana. Chakiat is a well-established
business group engaged in shipping and related activities since 1952. Chakiat is
also a shareholder in India Gateway Terminal (IGT) which operates the Vallarpadam
International Transshipment Terminal.

About Gateway Distriparks Limited : GDL is a container logistics company with pan-
India presence providing Container Freight Station (CFS) and Inland Container
Depot (ICD) services. GDL operates two large CFSs at JNP and CFSs at Chennai,
Vizag & Kochi. GDL operates cold chain logistics business through its subsidiary,
Snowman Logistics Limited (SLL), a JV with Mitsubishi Group and through another
subsidiary. Gateway Rail Freight Limited (GRFL) operates own container trains and
Rail-ICDs near Gurgaon and Ludhiana.

The CFS was inaugurated by Padmashree Gopinath Pillai (Chairman, Gateway
Distriparks Limited) in the august presence of Mr.Paul Antony- Chairman Cochin
Port Trust, Dr. K.N.Raghavan - Commissioner of Customs, Mr.M.P.Pinto - Former
Secretary Shipping, Govt. of India and Chairman of Gateway Distriparks (Kerala)
Limited, Mr.Prem Kishan Gupta (Director, GDKL), Mr.K.K.Krishnadas (Director/ CEO
IGTL), Mr.P.Narayanan (Director, GDKL).

Seminar on Biophotonics in Kochi

St Albert’s College Physics Department with sponsorship from DBT Delhi conducted a one day seminar on Biophotonics on Tuesday, 12/2/2013. The seminar was inaugurated by  Rev Fr. Manger Antony Aarakal. Prof. Lawrel Gregory, HOD, welcomed the gathering. Principal Prof Harry Cleetus and Vice Principal Dr. Cyriac Mathew felicitated. The chief guest was Dr. Jayasree V.K, Head of the Department of Electronics Engineering,Model Engineering College, Thrikkakara. She was formally introduced by Prof Justine Paiva. 

The talk started with explanation of interaction of light with biomatter. Natural examples are photosynthesis, vision of eye etc. Biophotonics opened vistas for non-invasive diagnostics, tissue engineering etc.

Lasers can pin point cells which can be held on by precision lasers while other lasers repaired the cell.When light is incident on tissue, reflection, refraction, absorption and scattering can happen. Of this, scattering is the most important in diagnosis because from the scattering pattern, cancer if present can be detected, for eg. Raman scattering in CO2, Argon or Nd-YAG laser are used to detect cancer.

Bio imaging is another area which is replacing traditional imaging like X ray, CAT, MRI etc. The main reason is that optical imaging is non-toxic and harmless. In the therapy side photo sensors either injected or applied topically creates singlet oxygen atoms which destroy cancer cells while leaving normal cells alone.

Popular LASIK surgery has been  correcting faulty eye sight for ages now. PPG - Photo Plethysmography is now widely used to monitor heart level in ICUs. Comparing PPG's of a normal and diabetic person reveals the amount of degradation in the diabetic's circulation. EGG - Electro Gastrogram for stomach - generated from PPGs are going to help patients a lot in the near future; Dr Jayasree V.K concluded. 

Saturday, February 9, 2013

Federal Bank bags ACI Excellence award twice in a row

Kochi: Federal Bank has won the prestigious ACI Excellence Award 2013 for Product Innovation. The award winning product is Apna Gold 24x7 (earlier known as Federal Easy Gold). The bank emerged the winner in Public Voting. This is the second award in a row for the bank. Last year Bank had won the ACI Award in “Excellence for Payment Transformation” category. This time the award is in recognition of the bank’s Creativity in Solving Market Problems. ACI Worldwide is a US-based company offering various payment system solutions across the globe.
Apna Gold 24x7 has become a new benchmark in the industry as far as loan against pledge of Gold is concerned. The project was taken up as part of Federal Bank’s abiding commitment to enhance customer comfort and delight through innovation and technology absorption. With this path-breaking product, Federal Bank has integrated the advantages of convenience and flexibility to customers and strengthened its position as a bank of choice.
Taking gold ornaments as the security, Apna Gold 24x7 provides customers the convenience of withdrawal / use of loan amount through any ATM. It provides customers the flexibility of cash withdrawal or 24x7 shopping through multiple channels even after normal banking hours and on holidays. The security of the gold ornaments is assured under bank’s common insurance policy for which premium is paid by the bank. The money can be used in parts as per the needs of the customer and interest need be paid only for the used amount for the actual days of use. Customer is given the convenience of taking back and using the ornaments.
Customers have the convenience of availing Apna Gold 24x7 from any of its 1032 branches and making cash withdrawals from any ATM of any bank.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1032 branches and 1,154 ATMs spread across the country. The Bank’s total business has risen to Rs. 91,101.34 crore and its Net Worth to Rs. 6,323 crore by 31/12/2012. It recorded net profit of Rs. 776.79 crore during the last financial year. Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.

IDBI Bank crosses Rs.1 lakh crore mark in Central Tax Collections in FY 2012-13 & introduces multiple custom duty payments facility through single transaction

Mumbai, February 8, 2013: IDBI Bank with a strong focus on Government Business has been engaged in the collection of various Direct and Indirect Taxes of the Central Government and various State Governments. In January 2013, the Bank reached a major landmark of Rs. One lakh crore ( total Rs 1.08 lakh crore) in respect of Central tax collection for the current Financial Year thereby repeating the feat achieved during FY 2011-12. As at the end of January 31, 2013, the Bank has surpassed the total tax collection of Rs.1.20 lakh crore, including state taxes as against Rs.1.24 lakh crore collected in the entire previous year.

The Bank went live on January 16, 2012 for payment of Customs Duty on pan India basis. Considering increased volume of Customs Duty on regular basis and to provide better services to our valued customers, the Bank decided to move to multiple challan mode of payment of custom duty, which has since been launched on January 29, 2013. Under this module, customers would be able to pay upto 25 challans at one go pertaining to any one port. It will not only reduce the time for processing the challans but would also make the payment of customs duty through net banking most convenient for the Bank's customers.

About IDBI Bank

IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1032 branches and 1606 ATMs. The Bank had an aggregate balance sheet size of about Rs. 2,75,000 crore and total business of about Rs 3,60,000 crore as on December 31, 2012. IDBI Bank's operations during the 9 month period ended December 31, 2012 resulted in a net profit of Rs. 1328 crore.

IDBI Mutual Fund launches IDBI RGESS

• 3 year closed ended actively managed equity mutual fund scheme. Investments to be made exclusively in RGESS eligible securities.Scheme open to all investors.

• Income tax benefit under 80CCG of the IT Act available for investment of New Retail Investors as defined under RGESS.

• The IT benefit is in addition to benefit available u/s 80C.

• Units available at par Rs. 10 during the New Fund Offer.

• Minimum investment: Rs.5000 and in multiples of Re. 1 thereafter

• Plans offered: Regular Plan with Dividend & Growth option.

Direct Plan with Dividend & Growth option

• Benchmark – BSE 100 Index.

• NFO Period: February 09, 2013 to March 09, 2013

Mumbai, February 09, 2013: IDBI Mutual Fund today announced the launch of IDBI RGESS (Rajiv Gandhi Equity Savings Scheme-Series I), a close ended growth scheme offering income tax benefits under Section 80 CCG of the IT Act, 1961. The New Fund Offer (NFO) will open for subscription on February 9, 2013 and close on March 9, 2013. The units will be available at par (Rs.10/-) during the NFO only.

The investment objective of the scheme is to generate opportunities for growth while providing income tax benefits under section 80CCG of the Income Tax Act 1961 by active management of portfolio investing predominantly in RGESS eligible equity instruments.

Commenting on the occasion, Mr. Debasish Mallick, MD & Chief Executive Officer, IDBI Asset Management Ltd said “IDBI RGESS provides an opportunity to invest in an actively managed equity mutual fund scheme and benefit from possible capital gains along with tax savings u/s 80CCG upfront.”

About IDBI Asset Management Ltd.

IDBI Asset Management Ltd. is a subsidiary of IDBI Bank Ltd. The sponsor for the IDBI MF is IDBI Bank Ltd and the Trustee Company is IDBI MF Trustee Company Ltd. IDBI Mutual Fund’s mission is to promote financial inclusion, by assisting the common man in making informed investment choices, through mutual funds and thus bring to him, the prosperity of the capital markets.”

PVS Memorial Hospital Ltd., Kochi, introduces Kerala’s first 3D Laparoscope!

Mr. Subhrangshu Bagchi, Dr. George P Abraham, Minister Shri K Babu, Mr. P V Gangadharan, Ms. P V Mini, Dr. Col B Ramesh and P V Abhishek

The Honorable Minister for Fisheries, Ports and Excise, Shri K Babu (Govt. of Kerala)
officially inaugurated the first 3D Laparoscope in Kerala at PVS Memorial Hospital, Kochi.
PVS Memorial Hospital Ltd., Kochi, have always worked hard to offer the best medical care
and the most modern treatment services to the patients. And so, it is with pride that PVS
Memorial Hospital announces the introduction of one of the most advanced technologies in
Key Hole Surgery - the 3D Laparoscope.

PVS Memorial Hospital Ltd., Kochi is the first hospital in the state to install this pathbreaking
technology. The 3D Laparoscope offers precise, 3 dimensional imaging that
enhances precision and gives better prognosis with the least morbidity at affordable costs.
3D Laparoscopy is safe, associated with lesser blood loss, creates fewer complications and
is very cost-effective. The incisions made in this are much smaller than ordinary laparoscopy
and the chances for requirement of blood from donors are lesser. It reduces surgery time and
the number of days the patient needs to spend in the hospital, post surgery. The fatigue, post
surgery, and recovery time are lesser compared to conventional laparoscopy. It also gives the
surgeon, performing an invasive procedure, a far better field of vision thereby improving the
precision and accuracy of the surgery.

For the first time in India, the 3D Laparoscope has been used by the PVS Urology
Department to conduct surgeries. The Urology team headed by Dr. George P Abraham,
who is a pioneer in Laparoscopic Surgeries in India and abroad, has performed several
surgeries using this technology. For the first time in Kerala, the Surgical Gastroenterology
Team, headed by Dr. Prakash K and the Obstetrics & Gynaecology team, headed by
Dr. Agatha Moniz have conducted surgeries using this technology.

This latest technology known as 3D HD - Einstein Vision manufactured by Scholly, a
German company and marketed by Aesculap. Lakshmi Surgicals, Aluva is the distributor
for Kerala for this machine. Einstein Vision is becoming hugely popular all over the world
and globally, an increasing number of medical centres are installing this technology to give
better care and benefits to their patients. Additionally, short learning curve for surgeons - an
advantage claimed by Robotics over conventional laparoscopy can be achieved with this 3D
technology using conventional instruments at less than one fourth the cost. Medical experts
believe that in a developing country like India, which cannot afford to buy Robots to perform
highly expensive surgeries, 3D Laparoscopy Technology has come as a boon for surgeons
and patients alike.

Dr. George P Abraham explained the benefits of the 3D Laparoscope over conventional
2D technology in various surgical procedures. Mr. Subhrangshu Bagchi (Business Unit
Head, India for B Braun [Aesculap]) explained the technical details of this new technology.
Mrs. P V Mini (Executive Director - PVS Memorial Hospital, Kochi) welcomed the gathering
and Dr. Col. B Ramesh (Medical Superintendent - PVS Memorial Hospital, Kochi) delivered
the vote of thanks at the function.

Friday, February 8, 2013

Geojit BNP Paribas reap benefits from its new Green HO

In a short time since its inauguration, Geojit BNP Paribas’ new ‘Green’ Head office at

Padivattom has proved to be of great benefit to the environment and cost saver for the

company. Now fully functional and accommodating nearly 600 staff, the building with a

built up area of 1,04,609 sq ft consumes 25% less energy and over 40% less water than

conventional buildings.

Speaking about the benefits of its new Office, the company’s Managing Director, C. J.

George said, “We put our trust in the green building concept and invested over Rs 40

Crore in our building. Today, at a time when we are facing energy and water crisis, I can

confidently say that Geojit is doing our bit to conserve the world’s precious resources.”

He added, “I believe that going Green is the way forward for all and I wish more

companies will follow our example and invest in green buildings to conserve our


The Head Office of Geojit BNP Paribas is built to match the exacting standards set by

Indian Green Building Council (IGBC) and it aims to be the first LEED 'Gold' building in

Kochi City. The building can accommodate 850 staff and has 18 meeting rooms plus 3

training rooms with a total seating capacity for 130 people, parking facility for 57 cars and

200 two wheelers.

The landmark building is constructed keeping in mind the environmental health,

sustainability and the comfort of the occupants. It focuses on efficient energy

management, low water consumption and will generate less waste materials, thus creating

a space for a healthy environment.

Tuesday, February 5, 2013

Indel Money Opens 9 branches in Thrissur and Palakkad; Targets 100 branches in 2013

Kochi, February 5, 2013: Mumbai-based Indel Money, an NBFC promoted by a group of NRIs including international bankers and finance professionals in 2002, announced its decision to begin its operations in Kerala by opening nine branches in the districts of Thrissur and Palakkad. As per the RBI guidelines, Indel Money will focus its activities on gold loans, vehicle loans, SME loans and instant money transfers.

Addressing a media conference here today, Mr. Mohanan G., Chairman & Managing Director of Indel Money, said the nine branches are in Varadiyam, Thrikkur, Ponnukkara, Kuttoor and Kondazhi in Thrissur district and in Thenkurissi, Vadavannur, Karapotta and Nhangattiri in Palakkad district. "In 2013, we are planning to open at least 100 branches all over Kerala," announced Mr. Mohanan.

Mr. Ramesh T., the Executive Director of Indel Money, said the company's mission is to maximize value to all its customers, staff, the regulators and the community at large by adopting best practices and continually striving for excellence. "So that we can be the most passionately referred service provider in the world of financial services," he added.

The media conference has also been attended by the company's director Mr. Umesh Mohanan and non-executive directors Mr. Anantharaman T. R. and Unnikrishnan Venugopal.

The company's CMD, Mr. Mohanan G. is an experienced ex-international banker while another director Mr. Umesh Mohanan, an experienced investment professional, is currently the CFO of  US$ 5-billion Delma Emirates Group headquartered in Abu Dhabi, UAE, having its presence across the globe throughout the whole of GCC, East Europe, East Africa, Indian subcontinent and Far East with activities spanning from infrastructure construction, banking, defense equipment contracting, security surveillance, equipment trading, manufacturing and investment banking. More than 20% of the group’s turnover is contributed by its UAE business.

Mr. Ramesh T., Indel Money's Executive Director, is a seasoned management professional having more than 20 years' hands-on experience in NBFC sector. Presently pursuing a doctoral programme with IIM, Bangalore, Mr. Ramesh is also dealt with international banking operations, regulatory frameworks of RBI, money transfer, inward remittance business, international financial products and foreign exchange of various international companies.

Mr. Anantharaman.T.R., one of the non-executive directors of the company, is a fellow member of the Institute of Chartered Accountants of India, having 15 years of professional services with 12 partners and 7 offices throughout India while Mr. Unnikrishnan Venugopalan, another of the directors, is a lawyer and company secretary by profession. Formerly working as Legal Representative and Company Secretary of an MNC with more than nine years of professional experience in the industry, he is also the founder of U.V. & Associates, a consultancy firm offering services in corporate law and other legal matters.

For more details, please visit: www.indelmoney.comin Thenkurissi, Vadavannur, Karapotta and Nhangattiri in Palakkad district. "In 2013, we are planning to open at least 100 branches all over Kerala," announced Mr. Mohanan.

Mr. Ramesh T., the Executive Director of Indel Money, said the company's mission is to maximize value to all its customers, staff, the regulators and the community at large by adopting best practices and continually striving for excellence. "So that we can be the most passionately referred service provider in the world of financial services," he added.

The media conference has also been attended by the company's director Mr. Umesh Mohanan and non-executive directors Mr. Anantharaman T. R. and Unnikrishnan Venugopal.

The company's CMD, Mr. Mohanan G. is an experienced ex-international banker while another director Mr. Umesh Mohanan, an experienced investment professional, is currently the CFO of  US$ 5-billion Delma Emirates Group headquartered in Abu Dhabi, UAE, having its presence across the globe throughout the whole of GCC, East Europe, East Africa, Indian subcontinent and Far East with activities spanning from infrastructure construction, banking, defense equipment contracting, security surveillance, equipment trading, manufacturing and investment banking. More than 20% of the group’s turnover is contributed by its UAE business.

Mr. Ramesh T., Indel Money's Executive Director, is a seasoned management professional having more than 20 years' hands-on experience in NBFC sector. Presently pursuing a doctoral programme with IIM, Bangalore, Mr. Ramesh is also dealt with international banking operations, regulatory frameworks of RBI, money transfer, inward remittance business, international financial products and foreign exchange of various international companies.

Mr. Anantharaman.T.R., one of the non-executive directors of the company, is a fellow member of the Institute of Chartered Accountants of India, having 15 years of professional services with 12 partners and 7 offices throughout India while Mr. Unnikrishnan Venugopalan, another of the directors, is a lawyer and company secretary by profession. Formerly working as Legal Representative and Company Secretary of an MNC with more than nine years of professional experience in the industry, he is also the founder of U.V. & Associates, a consultancy firm offering services in corporate law and other legal matters.

For more details, please visit: 

Monday, February 4, 2013

Geojit BNP Paribas appoints Sharad Sharma as Executive Director

Sharad Sharma

Geojit BNP Paribas announced that Sharad Sharma has been appointed as the

company’s Executive Director to oversee the Operations of the company, while

Executive Director, Satish Menon will be responsible for all Business lines. Both

Executive Directors will report to C. J. George, Managing Director of the company.

Mr Sharma has over 30 years of experience in the financial sector covering liability

management, retail banking, forex treasury, corporate banking, operations and

wealth management in State Bank of India and BNP Paribas.

Speaking about Sharma joining Geojit BNP Paribas, C J George said, “Sharad brings

with him his vast experience in the financial industry, which I am sure will add value

to our team and help us in our growth and expansion plans.”

Sharma, who holds a Master’s Degree in Financial Management was with BNP

Paribas since 1989 in various senior management positions and was the member

of the Executive Management Committee of BNP Paribas, India. Since 2001 to his

present position, Mr Sharma was heading BNP Paribas’ private banking business as

Country Head – Wealth Management.

Mr Sharma said, “It is a privilege for me to join Geojit BNP Paribas. In collaboration

with the teams, I am looking forward to enable further progress for our customers

by meeting their growing needs.”

Currently, Mr Sharma is a Member on the Board of BNP Paribas Investment Services

(India) Pvt. Ltd., Financial Planning Standards Board India and Financial Planning

Corporation (India) Pvt. Ltd.

Friday, February 1, 2013

Doubling Food Production in Five Years Becomes Imperative Food security required to feed the most populous nation by 2020

New Delhi, 30 January 2013: RBI Governor while unveiling the quarterly monetary policy expressed
concern over the contrarian behaviour of food inflation which moved into double digits in December
2012, ‘reflecting both cyclical and structural factors’. During the period even though headline inflation
rate fell to 7.2 per cent, food inflation remained high, revealing the critical need to focus on agriculture
should the nation want to follow a growth oriented easy money policy. In fact the experience of the
last two Five Year Plans reveals that for the Indian economy to grow at 9 per cent, it is important that
agriculture should grow at least by 4 per cent per annum, all of which will not be volume growth. This
will take more than 17 years to double the production. In order to double food production in the next
8 years we must grow at an annualised compounded rate of 9 per cent. This aim cannot be achieved
unless India adopts targeted policies and practices on war footing. Given the fact that India is still
struggling to accommodate the global developments in the food and agricultural sector of 1970s, a lot of
time travel is needed to reach the milestone of doubling food production in less than 10 years.

The nation will have to work at farm system-based solutions including use of advanced technologies
from improved seeds through breeding and with beneficial biotechnologies, to irrigation technologies,
to agrochemistries for soil nutrition, insect protection and weed management, mechanization, improved
agronomic practices, effective post harvest management tools, amongst others in the future. The
global markets are evolving. Farmers are already combining conventional practices with modern
technologies and improved practices. Rising consumer demand and a changing climate need us to
leverage knowledge-based research and development capability to develop new choices. With food,
feed, the farm and farmer at the core. Tomorrow is for those who are determined to survive. The future
belongs to new products, new processes with the goal to customize and personalize the products. Focus
will be on improving crop productivity, functionality, enhanced shelf-life, safety and quality of food. For
example, globally the seed and technology industry alone invest more than US$ 3 billion annually in R&D
to develop new solutions. Similar amounts are invested by other agriculture inputs industries to develop
products that are immensely beneficial to the farmers.

Where will India stand? The agriculture sector today still supports more than 50% of the Indian
population, while contributing only 14% of the national output. With increase in population and also in
per capita food consumption the country is already in the midst of very high food price inflation; taking
a severe toll on India’s masses. Crop Care Federation of India (CCFI) to address these critical issues of
food security, agricultural sustainability and policies for food crisis alleviation is hosting the conference
on ‘Doubling food production in five years’. The underlying premise of this three day conclusive
convention focuses on reviewing current state of Indian agriculture, innovations, sustainable food
policies and the effectual balance required for protection of ecology and environment while ensuring
profitable agriculture for the farmer and a hunger free India and world. The conference is scheduled
from February 1st to February 3rd 2013 at the Vigyan Bhawan, New Delhi.

Today a number of government initiatives exist for the benefit of the sector including Centrally
Sponsored Scheme on National Food Security Mission to enhance production, National Rainfed Area
Authority (NRAA) focuses on problems of the rainfed areas, schemes of debt waiver for small and
marginal farmers and debt relief for other farmers and Agricultural Technology Management Agencies
(ATMAs) set up in 565 districts. Nevertheless there exists a clear need for coordinated action to even
meet the food grain requirement of the proposed National Security bill.

Commenting on importance of food security, Mr. R.D. Shroff, Chairman, CCFI, said, “With the world
population expected to reach nearly 9 billion by 2050, food security at a global and national level
needs to be a key priority. Not only is the numbers required to be fed increasing, climate change is
also leading to a reduction in available arable land and water resources. This double impact needs
proactive and urgent measures in collaborative brainstorming, policy and action across national and
state governments, producers, technologists, environmentalists and the consumers. The goal of this
conference is to source the best platforms for encompassing suitable resolutions for food crisis, self
dependency and public policy.”

The conference will be inaugurated by the honourable President of India, Shri. Pranab Mukherjee.
Honourable Union Minister for Agriculture, Shri.Sharad Pawar and honourable Minister of State for
Chemicals and Fertilizers Shri Shrikant Kumar Jena will grace the occasion among other industry
stalwarts, scientists and policy makers. Deputy Chairman, Planning Commission, Shri. Montek Singh
Ahluwalia will deliver the key note address at a banquet in the evening. The proceedings of the first day
will include a panel discussion on the role of key stakeholders in increasing food production, innovation
in agriculture and extension work.

The second day’s sessions include panel discussions on cooperation between government and
regulatory authorities, role of seeds and GM crops in doubling food production, government policies
& post harvest management, Agrochemicals and international experiences in agricultural productivity
improvement. Some key panelists for the day comprise of Dr RB Singh, Dr Patrick Moore, Dr Ayyappan
(DG ICAR), Dr. Mauricio Antonio Lopes (President, EMBRAPA, Brazil) and renowned economist and
professor, Dr. Bibek Debroy (Center for Policy Research), to name a few.

The final day’s events include the valedictory function which will be led by Smt. Sushma Swaraj, MP.
This will be followed by felicitations and remarks by renowned speakers from various institutions, thus
culminating the conference.

SKS Microfinance Limited turns around with a profit of Rs 1.2 crore

Reverses the trend of seven consecutive quarters of losses; growth momentum accelerates with 40%
quarter-on-quarter jump in drawdowns; 16% quarter-on-quarter core income growth in non-AP states

Hyderabad, January, 2013: SKS Microfinance Limited today announced its return to profitability with a profit
of Rs 1.2 crore in Q3-FY13, reversing the trend of seven consecutive quarters of losses caused by the external
event of Andhra Pradesh microfinance crisis. The Company incurred a loss of Rs. 262 crore in Q2-FY13 and a
loss of Rs 428 crore in Q3-FY12.

SKS Microfinance Limited sustained growth momentum in non-Andhra Pradesh states with its core interest
income in those states increasing by 16% to Rs 79 crore in Q3-FY13 from Rs 68 crore in Q2-FY13 (Rs 82 crore
in Q3-FY12). The Company’s loan disbursements rose by 14% from Rs 690 crore in Q2-FY13 to Rs 784 crore
in Q3-FY13 as its non-AP portfolio grew by 9% from Rs 1372 crore in Q2-FY13 to Rs 1496 crore in Q3-FY13.
Collection efficiency in 17 non-AP states continues to be robust at 99.8% (99.2% in Q2-FY13). As for Andhra
Pradesh, the portfolio in the southern state has been reduced to a nil in Q2-FY13 from a high of Rs 1,491 crore at
the start of AP microfinance crisis in October 2010.

The growth momentum has been accelerated on account of the increasing supply-side support. Drawdowns
have registered a 40% growth from Rs 405 crore in Q2-FY13 to Rs 566 crore in Q3-FY13 as the dedicated
organization-wide efforts in implementing a seven-pronged turnaround strategy began registering never-before

"Fully providing for the Andhra Pradesh exposure, optimization of cost structure, delivering promises, coming
out of the supply-side shock, portfolio protection and recapitalization are the building blocks of SKS Microfinance
Limited's turnaround strategy,” said Mr S. Dilli Raj, Chief Financial Officer, SKS Microfinance Limited. “By
returning to profitability, we have successfully emerged out of the Andhra Pradesh microfinance crisis. With a
capital adequacy of 39% and sufficient liquidity, we are well equipped to reap the fruits of sector consolidation,
advantageous change in the competitive landscape, a favourable regulatory climate and, of course, the enhanced
business prospects."

SKS Microfinance Limited had a networth of Rs 388 crore and a capital adequacy of 38.5% (26.2% without RBI
dispensation on AP provisioning) as of December 31, 2012. In addition, the unavailed deferred tax benefit stands
at Rs 556 crore and will be available to offset tax on future taxable income. The Company has healthy cash and
bank balances of Rs 304 crore.

The Company’s significant cost optimization initiatives too have aided a faster-than-expected turnaround with
branch consolidation from 2,403 in Q3-FY11 to 1,298 in Q3-FY13 and headcount rationalization from 25,735 in
Q3-FY11 in 11,195 in Q3-FY13.

About SKS Microfinance Limited:

SKS Microfinance Limited (SKS) is a non-banking finance company (NBFC), registered and regulated by the
Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates
across 17 states of India. They include: Andhra Pradesh, Karnataka, Maharashtra, Odisha, Madhya Pradesh,
Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Gujarat, Kerala,
Punjab and Delhi.

Sobha charts steady growth in Q3-13; turns a 20 billion brand

Key highlights

Crossed Rs. 15 billion of new sales in 9M-13, a new milestone

Registered highest-ever new sales value of Rs. 5.33 billion during Q3-13, up 19% YoY

Registered new sales volume of 0.90 million sq. ft., up by 10.2% YoY

Achieved average price realisation of Rs. 5,910 per square feet, up 7.9% YoY

Generated highest ever cash flow of Rs. 5.38 billion from operations in this quarter

Revenues at Rs. 4.31 billion on a consolidated basis, up 37% YoY

EBITDA at Rs. 1.39 billion, up 20% YoY

PBT at Rs. 798 million, up 8% YoY

PAT at Rs. 526 million, up 7% YoY

Completed 5 projects measuring 0.72 million sq. ft.

Completed over 300 projects measuring 54.45 million sq. ft. since inception

Bags 9 prestigious honours including the prestigious CNBC “Most Reliable Builder”

2012 Award

Bangalore, January 31, 2013

Realty major Sobha Developers Ltd., on a consolidated basis, registered a turnover of Rs. 4.31 billion for

the third quarter of FY 12-13, which ended on December 31, 2012.

The EBITDA stood at Rs. 1.39 billion. The profit before tax stood at Rs. 798 million, and the profit after tax

came at Rs. 526 million on a consolidated basis.

The revenue has increased by 37%, EBITDA has increased by 20% and the PBT and the PAT have also

increased by 8% and 7% respectively, YoY.

During the third quarter of fiscal 2013, Sobha sold 0.90 million sq. ft. of new space valued at Rs. 5.33

billion at an average price realisation of Rs. 5,910 per sq. ft.

Commenting on the Company’s performance, Mr. J.C. Sharma, Vice Chairman & Managing Director,

Sobha Developers Limited, said, “This has been the best quarter ever in terms of cash realisation from

our operations. It further strengthens our faith that there is a large market for discerning buyers who

appreciate and value a superior, quality-oriented product.”

“On the contracts side, we have completed and handed over projects measuring 0.26 million sq. ft. during

the third quarter of FY 12-13. We have a clear visibility for the next three years and are positive about

having a sound income from this vertical too,” added Mr. Sharma.

Growth Plans

The improving cash flows have prompted the Company to look for new opportunities in emerging markets

as well as its existing locations. In the upcoming financial year, Sobha will make a foray into three new

geographies - Kochi, Kozhikode (Calicut) and Noida/Ghaziabad region. Sobha is also exploring opportunities

in the Hyderabad realty market. The Company is also committed to work within the Debt-Equity Ratio of

“We strongly believe that the market for premium housing is growing at a healthy pace. And Sobha, with

its superior and well-differentiated product line, is all set to capitalise on the rising demand,” remarked Mr.

For the current financial year, the Company is well on its way to achieve its preset guidance of new sales of

3.75 million sq. ft. valued at Rs. 20 billion.

Sector Outlook

The real estate industry’s dynamics reflect consumers’ expectations of higher quality with India’s increasing

integration with the global economy. Going forward, strong underlying demand would continue to aid an

improvement in absorption levels in major cities like Bangalore, NCR, Chennai and Pune, which are the

epicentres of progress.

The liquidity situation is also improving. “The RBI’s recent policy of 25 bps reduction in repo rate after a

nine-month wait is definitely a key to boosting the real estate market and is sending out positive signals

to investors. Such growth-oriented monetary measures combined with the government’s fiscal measures

should augur well for the industry and homebuyers alike,” stated Mr. Sharma.

He added, “The Bangalore realty market has shown tremendous resilience amid market headwinds and is

poised for greater growth and development.”

Impeccable Execution

Sobha’s superior execution capability is one of its core strengths. The Company may be the only real estate

player in India to have completed over 300 projects measuring about 55 million sq. ft. of space in 22 cities

in the last 17 years of its existence. This gives us the confidence that we will continue to add quality and

value to the real estate landscape of our country.

As of December 31, 2012, Sobha has completed 83 real estate projects and 224 contractual projects

covering about 54.45 million sq. ft.

The Company currently has 43 ongoing residential projects aggregating to 24.18 million sq. ft. of

developable area and 17.40 million sq. ft. of super built-up area, and 39 ongoing contractual projects

aggregating to 10.06 million sq. ft. under various stages of construction.

Sobha has made a footprint in 22 cities and 13 states across India. The Company currently has its real

estate presence in seven cities viz. Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur and Mysore.

Recognition & Awards

Several laurels were showered upon Sobha during the third quarter of fiscal 2013.

The major highlight was when Sobha was awarded as the “Most Reliable Builder”

(voted by consumers) at the national level by CNBC Awaaz Real Estate Awards

2012. This honour is an endorsement of the Company’s focus on every minute

detail, innovation, fair play, ethics and community care.

CNBC Awaaz also recognised Sobha Elite with the the Best Residential Project in

the mid Segment (Rs 35 lakh – Rs 1 crore) with 70% or more completion at the

city level at its Real Estate Awards 2012.

Construction World conferred Sobha with the coveted ‘Platinum Award for Excellence’ at the 7 th edition

of the Construction World Architect and Builder (CWAB) Awards 2012.

The Company’s self-built corporate office, Sobha, which is an epitome of excellence, was declared the

winner of the “Best Office Space Design” category at the 5th GIREM Leadership Awards.

Public Relations Society of India (PRSI), one of the apex bodies of Public Relations professionals in India,

honoured Sobha with four awards at the 2012 PRSI awards. They include first prize for ‘Social Media’ and

three second prizes for ‘Best In-house Journal’, ‘Best Special/Prestige Publication’ and ‘Best Public Relations

in Action’ respectively.

Sobha bagged the Muthiah Kasi Award 2012 for excellence in Value Engineering. Receiving the award this

year too implies that we are the best Company in the country practicing Value Engineering.

About Sobha Developers Ltd.:

Founded in 1995, Sobha Developers Ltd., a Rs. 20 Billion company, is one of the fastest growing and only backward

integrated real estate players in the country. It means the Company has all the key competencies and in-house

resources to deliver a project from its conceptualisation to completion.

Sobha is primarily focused on residential and contractual projects. The Company’s residential projects include

presidential apartments, villas, row houses, luxury, super luxury & moderately priced apartments and plotted

development. In all its residential projects the Company lays strong emphasis on environmental management, water

harvesting and high safety standards.

On the contracts side, the Company has constructed a variety of structures for corporates including offices,

convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts,

restaurants, research centres, and club houses.