Friday, February 3, 2023

MarQ by Flipkart launches new range of energy efficient 4 -in-1 convertible Air Conditioners ahead of Summers

The new range is available in six variants at a starting price of Rs. 25999.

The turbo cool 4-in-1 range with latest BEE labels features “Turbo Cool Mode” and “Eco Mode” to adjust cooling capacity and save energy

MarQ ACs are equipped with built-in stabilizers to guard against the electricity fluctuations


Bengaluru – February 2, 2022: Flipkart today announced the launch of a new range of 4-in-1 convertible Air Conditioners from MarQ by Flipkart to cater to the growing demand for powerful and energy-efficient ACs before the summer sets in. This new range of convertible air conditioners comes with an adjustable cooling capacity to cater to a customer's cooling requirements and save maximum energy. 


The ACs have an additional mode such as “Turbo Cool Mode” which provides instant cooling in 20 mins at 19% higher than regular ACs’ highest fan setting, and “Eco Mode” which offers power saving with a consistent cooling experience.


This range of ACs comes with the latest BEE Star ratings along with “Inverter Technology'' which adjusts the speed of the compressor to control the refrigerant (gas) flow rate and consume less power. The Inverter Technology ensures energy efficiency and uniform cooling and customers can save up to Rs 95,000. Additionally, the MarQ air conditioners are equipped with built-in stabilizers to guard against electricity fluctuations and a “Blue Fin coating” which protects against industrial smoke, salt, sand, and pollutants.


Hari Kumar, Vice-President, Large Appliances at Flipkart, said “Customers are increasingly investing in energy efficient ACs; and as a customer-focused and innovation focused organisation, we are at the forefront of working with our sellers to make available a wide selection of products. In this endeavour, we are delighted to expand our MarQ by Flipkart range of ACs that provides a great balance between best-in-class features and affordability, enabling us to reach out to millions of first time buyers while enabling existing customers to upgrade seamlessly.”

Some of the key specifications include

Feature Description

Convertible with adjustable cooling Turbo Cool 4-in-1 Convertible Split Inverter

Superior cooling Efficient cooling at 55 degree celsius 

Inverter Technology This range of ACs adjusts the speed of the compressor to control the refrigerant (gas) flow rate, thereby consuming less current and power.

Adjustable cooling modes C1: 65% 1 person

C2: 75% 2 people

C3: 90% 2-3 people

C4: 100% 4-6 people


Additional Modes:

Turbo Cool Mode - instant cooling in 20 mins 

Eco Mode - power saving mode for consistent cooling experience

Durability ACs are equipped with 100% copper condenser and Blue Fin coating

Best in Class Energy Efficiency This range of ACs have the latest BEE Star rating which makes them the most energy efficient 

Stabilizer free operations Built-in Stabilizer


The prices of these ACs can be found here while pictures can be accessed here.

About the Flipkart Group

The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 450 million, offering over 150 million products across 80+ categories. Our efforts to democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations have made online shopping more accessible and affordable for millions of Indians. Together with its group companies, Flipkart is committed to transforming commerce in India through technology.

For more information, please contact media@flipkart.com


Bank of Baroda announces Financial Results for the Quarter ended 31st December 2022


Key Highlights

Bank of Baroda (BOB) achieved a total business of INR 20,73,385 crore as of 31st December 2022, registering a growth of 18.5% YoY

Bank of Baroda (BOB) declares highest ever quarterly Net profit of INR 3,853 crore for Q3FY23 up by 75.4% YoY

Net profit in (9MFY23) stood at INR 9,334 crore registering a strong YoY growth of 69.9%

Net Interest Income (NII) grew by 26.5% & 24.2% for Q3FY23 & 9MFY23 respectively. 

Operating profit grew by 50.1% YoY in Q3FY23 to INR 8,232 crore  

Credit cost at a record low of 0.37% for Q3FY23 & 0.66% for 9MFY23

Global Advances registered a strong YoY growth of 19.7% in Q3FY23 

Organic Retail Advances grew by 29.4%, led by growth in high focus areas such as Auto Loan (27.5%), Home Loan (19.6%), Personal Loan (169.6%), Mortgage Loan (20.5%), Education Loan (24.1%)

GNPA at 4.53% a reduction of 272 bps YoY and 78 bps QoQ

NNPA at 0.99% a reduction of 126 bps YoY and 17 bps QoQ

Provision coverage ratio (PCR) at a high of 92.34% with TWO & at 78.85% without TWO

Net Interest Margins (NIM) stands at 3.37% in Q3FY23 and 3.23% for 9MFY23, increase of 24 bps YoY for the quarter and 22 bps for 9M

Domestic NIM increases by 33 bps YoY to reach 3.54% for Q3FY23, it stands at 3.35% for 9MFY23, up by 27 bps YoY

Return on Assets (RoA) for 9MFY23 improves by 31 bps YoY to 0.93%; RoA for Q3FY23 improves by 39 bps YoY to 1.13%

Return on Equity (RoE) for 9MFY23 increases by 504 bps YoY to 17.02%; RoE for Q3FY23 increases by 671 bps YoY to 21.08%

LCR (consolidated) stands at 143.78% in Dec’22

BOB is now India’s 2nd largest Public Sector Bank as per total business*








*Total Business is a sum of total deposits and total advances

Business Performance

Global Advances of the Bank increased to INR 9,23,878 crore, +19.7% YoY.

Domestic Advances of the Bank increased to INR 7,60,249 crore, +16.2% YoY. 

International advances grew by 4.4% sequentially in Q3FY23 as against 8.6% in Q2FY23 and stands at INR 1,63,629 crore.


Global Deposits increased by 17.5% YoY to INR 11,49,507 crore. 

Domestic Deposits increased by 14.5% YoY to INR 10,03,737 crore in Dec’22.

International Deposits grew by 43.6% on a YoY basis to INR 1,45,770 crore in Dec’22. 

Domestic CASA registered a growth of 7.6% YoY and stands at INR 4,17,812 crore with Domestic Savings accounts deposits registering a growth of 9.2% on a YoY basis in Dec’22.

Organic Retail Advances grew by 29.4%, led by growth in high focus areas such as Auto Loan (27.5%), Home Loan (19.6%), Personal Loan (169.6%), Mortgage Loan (20.5%), Education Loan (24.1%) on a YoY basis.

Agriculture loan portfolio grew by 12.8% YoY to INR 1,19,197 crore.

Total Gold loan portfolio (including retail and agri.) stands at INR 35,134 crore, registering a growth of 29.8% on a YoY basis.

Organic MSME portfolio grew by 11.1% YoY to INR 1,03,003 crore. 

Profitability

Net Interest Income (NII) grew by 26.5% YoY to INR 10,818 crore in Q3FY23. NII registered a growth of 24.2% YoY for 9MFY23 and stands at INR 29,831 crore.  

Fee based Income for the quarter increased by 9.4% to INR 1,539 crore. It stands at INR 4,332 crore for 9MFY23 with a growth of 12.2% YoY.

Operating Income for Q3FY23 stands at INR 14,370 crore, increase of 29.8% YoY.

Yield on Advances increased to 7.78% in Q3FY23 as against 6.92% in Q3FY22.  

Cost of Deposits stands at 4.01% in Q3FY23 as against 3.50% in Q3FY22.

Cost to Income ratio declined to 42.71% for Q3FY23 as against 50.47% for Q3FY22.

Operating Profit for Q3FY23 stands at INR 8,232 crore, increase of 50.1% on a YoY basis. Operating Profit for 9MFY23 stands at INR 18,791 crore up by 12.2% YoY.

Bank reported a standalone Net Profit of INR 3,853 crore in Q3FY23 as against a profit of INR 2,197 crore in Q3FY22.

Global NIM stands at 3.37% in Q3FY23, increase of 24 bps YoY. NIM for 9MFY23 stands at 3.23% against 3.01% for 9MFY22.

Return on Assets (annualised) improved to 1.13% in Q3FY23 from 0.74% in Q3FY22. Return on Assets for 9MFY23 stands at 0.93%.

Return on Equity (annualised) for 9MFY23 increased by 504 bps YoY to 17.02%.

For the consolidated entity, Net Profit stood at INR 4,306 crore in Q3FY23 as against INR 2,464 crore in Q3FY22.

Asset Quality

The Gross NPA of the Bank reduced by 25.3% YoY to INR 41,858 crore in Q3FY23 and Gross NPA Ratio improved to 4.53% in Q3FY23 from 7.25% in Q3FY22.

The Net NPA Ratio of the Bank improved to 0.99% in Q3FY23 as compared with 2.25% in Q3FY22.

The Provision Coverage Ratio of the Bank stood at 92.34% including TWO and 78.85% excluding TWO in Q3FY23.

Slippage ratio declined to 1.05% for Q3FY23 as against 1.68% in Q3FY22. Slippage ratio of 9MFY23 improved by 72 bps and stands at 1.22%.

Credit cost for the Q3FY23 stands at 0.37%.

Capital Adequacy


CRAR of the Bank stands at 14.93% in Dec’22. Tier-I stood at 12.62% (CET-1 at 10.83%, AT1 at 1.79%) and Tier-II stood at 2.31% as of Dec’22. 

The CRAR and CET-1 of consolidated entity stands at 15.44% and 11.45% respectively




















Business position

Particulars (INR crore) Dec 31 2021 Sep 30, 2022 Dec 31, 2022 YoY (%) 

Domestic deposits 8,76,555 9,58,967 10,03,737 14.5

Domestic CASA 3,88,169 4,10,151 4,17,812 7.6

Global deposits 9,78,034 10,90,172 11,49,507 17.5

Domestic advances 6,54,315 7,16,737 7,60,249 16.2

Of which, retail loan portfolio (Organic) 1,28,960 1,58,506 1,66,861 29.4

Global advances 7,71,994 8,73,496 9,23,878 19.7

NIM Global % 3.13 3.33 3.37 24 bps


Financial result for Quarter ended 31st December 2022


Particulars (INR crore) Q3FY22 Q2FY23 Q3FY23 YoY(%)

Interest Income 17,963 21,254 23,540 31.0

Interest Expenses 9,411 11,080 12,722 35.2

Fee Income 1,407 1,515 1,539 9.4

Net Interest Income (NII) 8,552 10,174 10,818 26.5

Operating Income 11,071 12,000 14,370 29.8

Operating Expenses 5,588 5,969 6,138 9.8

Operating Profit 5,483 6,031 8,232 50.1

Total Provisions (other than tax) and contingencies 2,506 1,628 2,404 -4.1

of which, Provision for NPA Bad Debts Written-off 4,283 1,654 817 -80.9

Profit before Tax 2,976 4,403 5,828 95.8

Provision for Tax 779 1,090 1,976 --

Net Profit 2,197 3,313 3,853 75.4


Key Ratios

Particulars Dec 31 2021 Sep 30, 2022 Dec 31, 2022

CRAR (%) 15.47 15.25 14.93

Tier-1 (%) 13.24 12.81 12.62

CET-1 (%) 11.3 10.95 10.83

Gross NPA (%) 7.25 5.31 4.53

Net NPA (%) 2.25 1.16 0.99

PCR (with TWO) (%) 85.95 91.73 92.34







3rd February, 2023 

Mumbai  


About Bank of Baroda  

Bank of Baroda (“The Bank”) established on July 20, 1908 is an Indian state-owned banking and financial services organization, headquartered in Vadodara (earlier known as Baroda), in Gujarat, India. Under the ‘Alternative Mechanism’ scheme, the Government announced the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda which came into effect on April 1, 2019. 

Bank of Baroda is one of India’s largest banks with a strong domestic presence spanning 8,178 branches and 11,456 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 94 overseas offices spanning 17 countries.  

Visit us at 

Website: www.bankofbaroda.com

Facebook:https://www.facebook.com/bankofbaroda/

Twitter:https://twitter.com/bankofbaroda

YouTube:   https://www.youtube.com/bankofbaroda

Instagram:https://www.instagram.com/officialbankofbaroda/  

LinkedIn:https://www.linkedin.com/company/bankofbaroda/   

Thursday, February 2, 2023

BMC organizes annual garden exhibition in Byculla from February 3rd to 5th February from 8 am to 8pm*


Mumbai: 2nd February 2023 - Brihanmumbai Municipal Corporation

organizes annual garden exhibition in Byculla from February 3 along with garden exhibition, 42 stalls and 11 workshops on various aspects of gardening will be organized during the three day exhibition. Inauguration of this grand exhibition will be  held at Veermata Jijabai Bhosle Park in Byculla East on Friday, February 3, 2023 at 11 am. Municipal Commissioner and Administrator Dr. Iqbal Singh Chahal will inaugurate the 26th Edition of this Exhibition.  Additional Municipal Commissioner (Eastern Suburbs) Mrs. Ashwini Bhide, Deputy Commissioner (Parks) Shri. Kishore Gandhi,  along with garden experts and dignitaries from various fields will also grace the occasion. The annual exhibition, will cover the workshops on various 11 topics related to the garden which are also being organized during the exhibition. Along with the exhibition, there will be 42 stalls for the sale of garden related items, said the Superintendent Chief of Garden, Mr.  Jitendra Pardeshi.  Every year, the annual garden exhibition presents various designs using leaf-flowers.  These designs also get spontaneous response from Mumbaikars and especially children.  This year's exhibition will feature designs from various cartoons including Peppa Pig Family, Masha and the Bear, Baloo Tweety and Sylvester. The main attraction of this years exhibition is G20 symbol made of leaf-flowers and G20 Plants, flowers and vegetables from member countries will also be included in this year's garden exhibition, Mr. Pardeshi, added. He further said, along with this, Mumbaikars will get to see literally hundreds of types of fruit trees and flowers grown in pots, fruit and vegetable trees, seasonal flowers, medicinal plants bonsai in this exhibition.  Also, the trees of many rare indigenous species such as Krishnavada, which are very rare in Mumbai area, will also be seen in this year's exhibition.  To make this year's garden exhibition more memorable after a gap of  two-year COVID,  the officers and employees of the Municipal Corporation's Garden Department are literally working day and night.  From this effort, various types of replicas and selfie points along with replicas of various 'cartoons' made from leaves and flowers will be witnessed in this exhibition.  This year's annual horticulture exhibition is on Friday 03rd  February 2023 from 12 noon to 8 pm  and on 04th and 05th February 2023 between 8 am and 8 pm, will be open for all citizens for free.

Coke Studio Bharat Celebrates the New Voice of India

 


Launches a new season highlighting independent artists, their unique niches, and the cultural diversity of the country.

Mumbai, February 2, 2023: After the overwhelming success of Coke Studio globally, Coca-Cola announces the launch of ‘Coke Studio Bharat’ in Mumbai today. The season is an amalgamation of over 50 artists from across the country who have come together to create over 10 memorable tracks celebrating the roots of Bharat.

The Indian music industry is undergoing a revolution, and Gen Z is driving the change. Today, the youth seek authenticity, greater freedom of expression and openness to immerse themselves into different music forms that are unique, diverse, yet meaningful. In this season of Coke Studio, emerging artists from India’s hinterlands and seasoned artists have come together, to lend their own unique voice to the tracks.

Coke Studio Bharat: ‘Apna Sunao’ is humbled to be a conduit to give these talented artists’ unique voices a stage to tell the story of Bharat that is rooted in culture yet embraces the new music of today. The platform will host music that pays homage to the various parts of India that artists call home, connecting with stories that are rich in history, with diverse languages, and using varied musical instruments creating magical melodies set to enthral.

Today, Indian artists are telling their stories proudly, in voices that are not only authentic and truly regional but also loved by fans worldwide. ‘Apna Sunao’ celebrates exactly this spirit of new India and is built on this original and independent freedom of expression.

Arnab Roy, Vice President, Marketing Coca-Cola India, and Southwest Asia said “Coke Studio, a globally acclaimed platform, has always aimed to celebrate authentic regional music. Musical traditions from multiple regions in India are at an inflexion point not only in India but even globally. Coke Studio Bharat connects the truly distinct cultural dots of various regions in the country with artists whose music is defined by their roots. They are the real stars of the season, giving regional music a bigger impetus.”

Piyush Pandey, Chairman of Global Creative and Executive Chairman, Ogilvy India congratulated the Coke Studio Bharat team and said, “Coke Studio Bharat is a fantastic endeavour in making the rich Indian musical and cultural diversity, more seamless and beautiful. It reminds me of the magic of "Mile Sur Mera Tumhara" in the late 80's, where I was privileged to be a part of the creative team. The magic of multiple languages and change of instrumentation, singing and people created an iconic piece. Today it's an opportunity to move the classical to the 'massical' level, where the masses around the world can enjoy the magic of Indian music. It is music from the 'heart of India, from every part of India'. Bravo, Coca-Cola India.” 

This season of Coke Studio is curated by the acclaimed, award winning musician and sought-after songwriter, Ankur Tewari. Breathing magic into ‘Apna Sunao’, Ankur has onboarded a thinktank comprising critically acclaimed poet, lyricist and scriptwriter Kausar Munir along with award winning sound engineer and music producer KJ Singh. Together they have handpicked regional gems to give their sound a new voice.

The current season features celebrated artists and musicians like Amira Gill, Achint, Aditya Gadhvi, Arijit Datta, Amaan and Ayaan Ali Bangash, Ashima Mahajan, Armaan Malik, Bombay Brass, Burrah, Charan Raj, Deveshi Sahgal, Dhruv Vishwanath, Diljit Dosanjh, Donn Bhatt, Hashbass, Jasleen Royal, Kanwar Grewal, Mahan Sehgal, Mansa Pandey, Maithili Thakur & Brothers, Mohammad Muneem, Noor Mohammad, OAFF & Savera, Osho Jain, Prabhdeep, Rashmeet Kaur, Seedhe Maut, Sakur Khan & Sons, Sanjith Hegde, Shillong Chamber Choir, Tajdar Junaid, and many others in a canvas of diversity, that showcases authentic and unique sounds that will unite fans from across the country. The season will also put the spotlight on regional Indian instruments like Algozha, Chimta, Duff, Sarod, Sarangi, Tumbi, and Rabaab. 

Coca-Cola has partnered with Universal Music India (UMI) as executive producers for the launch season of Coke Studio Bharat. Speaking on the association, Devraj Sanyal, MD and CEO, Universal Music India, India & South Asia shares, “To be a significant part of the Coke Studio phenomenon is a true honour for any music company, but to be involved in it from start to finish including spreading our brand of “Bharat “ music to not just our country but to the worldwide streamscape is something that makes me very proud. The trifecta of team Coca-Cola, Ankur Tewari and my team came together with our creators in a way I’ve rarely witnessed, making way for some of the finest folk & fusion music in a new age Bharat sonic that I have ever heard. Today more than ever before, music knows no language or genre. It is crossing borders boldly the world over and it’s our shared dream that we are able to deliver that in the first season of Coke Studio Bharat.”

Listeners can tune into Coke Studio Bharat across all audio OTT platforms including Spotify, Gaana, Saavn, Wynk Music, and Audible worldwide, with distribution managed by UMI. Weaving life into Ankur Tewari’s vision for “Apna Sunao”, UMI has roped in Misfits Inc. for audio production and Colosceum Media for video production.  The first song of the season will be released on February 7th, 2023.  Come join in the celebration by scanning the QR code on a Coca-Cola pack to directly reach the dedicated Coke Studio Hub that contains exclusive content that the artists have created, along with behind-the-scenes visuals. Scanning the pack also allows the audience to view the 360-degree view of selected songs, thus virtually transporting the audience inside the sets of Coke Studio through their mobile phones. Coke Studio invites consumers to share their own renditions of their favourite Coke Studio Bharat songs to be amplified across the nation.

 


About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our hydration, sports, coffee, and tea brands include Dasani, SmartWater, vitamin water, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. Our nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. 

Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.


Wednesday, February 1, 2023

Raymond records highest ever revenues in a quarter Reduces net debt by ₹ 354 Cr in the quarter to ₹ 932 Cr


· Five consecutive quarters of strong revenue and profitable performance

· Revenue up by 18% at ₹ 2,200 Cr vs. same quarter previous year

· EBITDA up by 16% at ₹ 351 Cr vs. same quarter previous year

Mumbai, 1st February, 2023: Raymond Limited today announced its consolidated financial results for the quarter ended 31st December, 2022


A snapshot of the consolidated financial results: (Post IND AS 116)

  

 Note: Raymond Ltd. has exercised the option of lower corporate tax rate which has resulted in one-time net impact of  ₹ 73.5 Cr in profit & loss account of Q3FY23 and period ending 31st December, 2022


Raymond continued to leverage positive sentiments and improved consumption in domestic markets through our wide-spread retail network and reported highest ever revenues in the quarter. The strong festive season witnessed a higher average transaction value by 24% in our ‘The Raymond Shop’ (TRS) network vs previous year. Focusing on profitable growth, the company also delivered the highest third quarter EBITDA of ₹ 351 Cr.


The consumer businesses sustained the growth momentum with buoyant sentiments and celebrations across the country leading to higher revenues. Garmenting export business continues with its strong order book from US & Europe markets and leverages the ‘China +1’ strategy. 

During the quarter, Raymond Realty set a new benchmark in real estate sector in India. The first three towers of the TenX Habitat project have been completed 24 months ahead of RERA timelines.


The Net Debt has reduced to ₹ 932 Cr as on 31st December,2022 as compared to ₹ 1,286 Cr as on 30th September, 2022 through free cash-flow generation driven by strong profitability and working capital optimisation. 




Commenting on the strong quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “Raymond continues to leverage the buoyancy in domestic markets as the festivities added to the fervor of good consumer demand leading to delivering highest ever revenues in a quarter. I am happy to share, that this is the fifth straight quarter where we have registered strong performance and overall generated free cash flows to further deleverage the balance sheet to below           ₹ 1,000 Cr of net debt levels. Realty has set an industry benchmark by delivering 3 towers, 24 months ahead of RERA timelines and have achieved this commendable feat in just three years of real estate business operations.”



Q3FY23 Segmental Performance: Post IND AS 116


Branded Textile segment reported sales of ₹ 902 Cr vs ₹ 899 Cr in Q3FY22. Festive season contributed to sales across primary channels and our pan-India retail network with consumers opting for our innovative offerings. The quarter also saw the product driven marketing campaigns such as TechnoStretch series.  The segment reported healthy EBITDA margin of 20.9% supported by operational efficiencies.


Branded Apparel segment reported topline growth of 15% with sales at ₹ 364 Cr in Q3 FY23 as compared to ₹ 316 Cr in same quarter last year. The growth was driven by new seasonal offerings across our branded apparel portfolio in the festive quarter.  The growth was witnessed across  trade channels and retail network. The segment reported strong EBITDA margin of 11.2% driven by operational efficiencies.


With incremental purchases made during festivities, we witnessed growth during the quarter in average transaction value (ATV) vs same period. In The Raymond Shop (TRS) network, we witnessed 24% increase in bill values.


Added 24 stores on a net basis in the quarter leading to our Retail store network of 1,400 stores (TRS and EBOs) as on 31st December, 2022.


Garmenting segment reported sales in a quarter at ₹ 282 Cr, a growth of 39% as compared to          ₹ 203 Cr in previous year, led by high demand in US & Europe markets from existing customers and new customer acquisitions. EBITDA margin for the quarter was 9.1%.


High Value Cotton Shirting segment sales grew by 32% to ₹ 195 Cr compared to ₹ 148 Cr in previous year, led by higher demand in festive season for our cotton & linen fabric offerings by our B2B customers in domestic market. The segment reported EBITDA margin of 10.7% for the quarter.


Engineering business sales remained flat in the quarter of ₹ 208 Cr on aggregate basis. Sales performance mainly driven by growth in domestic markets in most categories while exports markets were impacted due to global inflationary environment and currency devaluation in certain markets. The business reported EBITDA margin of 15.8% for the quarter.


Real Estate business showcased a strong sales growth of 67% to ₹ 292 Cr from  ₹ 175 Cr in previous year. The segment reported EBITDA margin of 25.5% for the quarter. Offerings of value based differentiated product infused customer confidence coupled with a fast paced construction and committed delivery timelines that delivered topline growth. Overall, project ‘Ten X’ received 151 bookings in Q3FY23 with a booking value of ₹ 192 Cr. Total 2,337 units booked (~75% of total units) till December, 2022 with a booking value of ₹ 2,402 Cr.  ‘The Address by GS’ premium residential project received 62 bookings with a booking value of ₹ 188 Cr resulting in total 411 bookings (~75% of total units) with a booking value of ₹ 1,022 Cr.



About Raymond Limited


Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabric and garmenting. Over the years, Raymond has been synonymous with quality, innovation and market leadership. It has some of the leading brands within its portfolio – ‘Raymond Ready to Wear’, ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure’ and Ethnix by Raymond amongst others. Raymond has one of the largest exclusive retail networks in the country with about 1,400 stores in more than 600 towns. The group has presence in engineering space engaged in precision engineered products with an expansive presence in national as well as international markets. 

Raymond forayed into realty sector through the launch of its maiden project TenX - an ‘aspirational district’ spread across 14 acres housing ~3,100 residential units and has recently launched a premium residential project – The Address by GS housing ~550 residential units.  

Raymond also has presence in FMCG sector through Raymond Consumer Care that offers wide range of products in men’s personal grooming category and personal hygiene. Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers over the past nine decades.


To know more, visit us today at www.raymond.in



For further information, please contact:

Rohit Khanna

Corporate Communications

Raymond Limited

Tel: 022 6152 7624

Email: Rohit.khanna@raymond.in


Upgrade your kitchen this New Year with TTK Prestige’s highly-efficient new launches - ‘Stack-o-mix Mixer Grinder’ & ‘Multi-Cooker’

 


It is time to refresh your kitchen this New Year with brand new appliances and cookware from TTK Prestige. The brand has launched two new products that will make your meal prepping quick and easy. The Stack-O-Mix Mixer Grinder and Multi-Cooker are both smartly designed kitchen products with intelligent, modern features that will not only make cooking a breeze, but easy to store in the kitchen as well. To add to the splendor, TTK Prestige is offering special introductory offers on both new launches. 


Stack-O-Mix Mixer Grinder

The feature-rich, highly efficient and designed for convenience, Stack-o-mix Mixer Grinder comes packed with innovative features. It has a unique jar stacking feature making it easy to store and takes minimum space in the kitchen. The jars are also equipped with ergonomic handles that create a firm grip to make the jars more comfortable to use. The Stack-O-Mix Mixer Grinder has a powerful 750-watt motor that can easily handle even the most difficult loads. They come with five adaptable multi-purpose blades that can be used for a variety of tasks in the kitchen, from wet and dry grinding to chutney making, mincing, and whipping.

                                                                                      

Price:  INR 5445/-

Special offer:  An introductory offer of 30% discount on TTK Prestige’s Stack-O-Mix Mixer Grinder. 



Multi-Cooker

The need of an appliance that can cook a variety of delectable dishes in a single vessel led to the launch of the extremely versatile, Multi-Cooker.  Customers can use their imagination and make a variety of delights including boiled vegetables, tea and coffee, rice, soup, curry, pasta, noodles and much more. The smart appliance is also packed with intelligent features including a Wide Mouth for easy use and cleaning and Concealed Element for safety as it guards the heating element from damage. Its temperature control feature allows the consumer to alter the temperature basis the requirement of the dish being cooked. Furthermore, the stylish glass lid makes it possible for the user to see the food as it cooks. 


Price: INR 2895/-

Special offer: An introductory offer of 20% discount is available on TTK Prestige’s Multi-Cooker. 



Availability: Consumers can get their products at Prestige Xclusive locations, select dealer outlets, and the brand's exclusive online store https://shop.ttkprestige.com/


EEPC India Chairman Mr. Arun Kumar Garodia on Budget 2023

 Union Budget 2023-24 has provided a cushion to the economy by bolstering public spending on infrastructure. The 33% rise in capex at Rs 10 lakh crore would further boost economic growth and create more jobs. 


Considering that global headwinds are strong and uncertainties remain rife, the move would ensure the economy is not impacted much by the looming slowdown in advanced economies. 


The tax relief to the middle class would enhance spending power and spur consumptions thus providing support to the economy. The indirect tax proposals are aimed at aiding exports. All in all, the budget is set to lift sentiments and give impetus to growth.