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Tag: Growth

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India Shelter Finance Sees 37% AUM Growth and 77% PAT Surge in Q1FY25

Aug 9, 2024 by Mansi 0 Comments #finance reportMumbai, #Growth, #India Shelter Finance, #PAT Surge, #report

Mumbai, 9th August 2024: India Shelter Finance Corporation Limited announced the unaudited financial results for quarter ended on June 30, 2024.

Key Performance Metrics:

Particulars (Rs. Crs) Q1FY25 Q1FY24 YoY Q4FY24 QoQ
AUM 6,509 4,759 37% 6,084 7%
Disbursements 715 582 23% 747 -4%
Spread (%) 6.1% 6.0%   6.1%  
Opex/AUM 4.4% 4.8%   4.4%  
PAT 84 47 77% 78 7%
RoA (%) 5.6% 4.2%   5.4%  
Gross Stage 3 (%) 1.1% 1.0%   1.0%  

Commenting on the performance, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation said: “India Shelter delivered another quarter of consistent performance across parameters with sustainable growth in our AUM. India Shelter now operates out of 236 branches in 15 states. We added 13 new branches during the quarter. Going forward, we will continue to focus on sustainable growth by penetrating deeper into our existing geographies, where a significant unserved and underserved population resides. During the quarter, we witnessed strong AUM growth of 37% YoY, led by a 23% YoY increase in disbursements. Our margins remained in line with our guidance for the medium term at 6.1%. Our return ratios continue to remain healthy at 5.6% RoA and 14.3% RoE.

He further added, “The government continued its march towards fiscal consolidation in Union Budget 2025, comforted by a broad-based recovery in the Indian economy. The increase in the target by 3 crore houses (rural as well as urban) goes well for those who wish to avail the benefits of the scheme. It will also facilitate accommodation of growing number of families, particularly in rural area. The re-introduction of Credit Linked Subsidy Scheme is expected to support housing loan growth as well. “

Profitability:

  • Profit after tax grew 77% YoY to Rs. 84 Crs in Q1FY25 as against Rs. 47 Crs in Q1FY24
  • RoA improved to 5.6% in Q1FY25 from 4.2% in Q1FY24
  • RoE stood at 14.3% for Q1FY25

Borrowings & Liquidity:

  • Networth at Rs. 2,387 Crs as of June’24. The company continues to carry a liquidity of Rs. 1,193 Crs as of June’24
  • In Q1FY25, cost of funds was maintained at 8.8%.

 Asset Quality & Provisions:

  • Gross Stage 3 and Net Stage 3 stood at 1.1% and 0.9% as of 30th June 2024 as against 1.0% and 0.8% as of 30th June 2023
  • Credit Cost for the quarter stable at 0.4%
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C1 Expands GICC Hyderabad Facility to Boost Innovation and Growth

Jul 8, 2024 by Mansi 0 Comments #Boost Innovation, #C1, #Growth, #Mr. Chandra Boddoju

Hyderabad, India, 8 July 2024- C1 (formerly ConvergeOne), announced the significant expansion of its Global Innovation and Capabilities Centre (GICC) in Hyderabad today. The expansion of the GICC (Global Innovation and Capabilities Center) has been part of C1’s growth strategy. This tactical move is to support the company’s continued growth and improved capabilities and create value for its global customer base.

c1 expands

Following the inauguration of their facility last year, C1 has doubled its investment to expand the Global Innovation and Capabilities Center (GICC) into a 40,000 sq. ft. facility at Sattva Knowledge Park in Raidurg, Hyderabad. The seating capacity has also been doubled at GICC with state-of-the-art training facilities. As part of its strategic growth plan to foster innovation and provide advanced solutions, C1 has also established the C1 R&D Lab and the C1 Experience Center for customers.

The new C1 Customer Experience Center will showcase innovative products, including the newly launched C1 Elly™️, a GenAI-powered assistant that enhances operational efficiency and decision-making.

“We are proud to reach this landmark in our expansion journey,” said Mr. Chandra Boddoju, Managing Director, and Country Head of India Operations. “The improved GICC is a testament to our commitment to leveraging the incredible talent in India to drive global innovation. The new facilities will support our present operations and direct the way for future growth and technological advancements”.

The work conducted at the Hyderabad center will continue to play a crucial role in C1’s Security and Enterprise Networks portfolio, as well as in operations across the C1 ecosystem. The Indian leadership team is an integral part of the global senior leadership of C1, driving a cross-functional, collaborative approach to innovation and growth. As part of the expansion, four new senior leaders have been onboarded in India, demonstrating C1’s commitment to leveraging the country’s talent and resources.

“The Expansion of the GICC is a major step in our growth”. said Ms. Tamara Shaw, Chief Transformation Officer, USA. “The new facilities will enable us to showcase our cutting-edge solutions and provide differentiated solutions across customer experience and collaboration. By utilizing the talent and expertise in India, we will be well positioned to accelerate our global operations and deliver exceptional value to our customers”.

Elaborating on the expansion, Mr. Eric Walter, Sr. Vice President, Managed Services, USA said “GICC is the strategic investment for supporting C1’s customers for elevated connected experience and fostering innovation for its growth enablement and capacity building”.

The newly expanded facility will feature a cutting-edge lab environment, to be extensively utilized for training and cross-skilling. This will enable C1 to transition teams to new technologies, fostering growth for both the company and the industry. C1’s successful Campus Grad Program has laid a strong foundation for attracting top-tier talent with robust engineering and technical skills, positioning the company competitively in the market.

The GICC in Hyderabad is a hub for driving C1’s growth across its combined capabilities in building scalable networks and highly secure environments to provide holistic solutions to customers with a focus on the connected human experience.

Credgenics Expands its Leadership Team to Drive Next Phase of Growth
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Credgenics Expands its Leadership Team to Drive Next Phase of Growth

Jun 9, 2022 by Praveen 0 Comments #Credgenics, #Growth, #Leadership Team

Credgenics, the leading provider of SaaS based collections and debt-recovery technology platform worldwide, today announced the expansion of its core leadership team as part of its next phase growth plan for existing markets and entry into global markets. New additions to the Credgenics leadership team include Vibhor Singhalas Head of Engineering, Nitin Garg as Head of Marketing, Asvini Krishnan as Head of Finance, Manjari Lakshmanan as Head of Product, Aakash Agarwal as Head of Data Science, Sukhpreet Singh as Head of HR, and Abhishek Sharma as Director of Sales.

In addition to the leadership team, Credgenics also plans to hire over 100 new professionals across technology, data science, strategy, sales, finance, support, and operations verticals over the next 12 months. The growing urgency among banks for digitization in loan collections and strong support for the platform from the banking and finance community in India has helped Credgenics gain rapid market share in India.

Leadership Team Additions

  • Vibhor Singhal, who comes with over a decade of extensive experience in building core technology platforms, leading engineering teams, and establishing an agile work culture, has joined as Head of Engineering
  • Nitin Garg, with more than a decade of proven expertise in strategically marketing complex enterprise technology solutions for BFSI across diverse markets worldwide, is on-board as Head of Marketing
  • Asvini Krishnan, an expert in financial planning and management with experience of more than 15 years has joined as Head of Finance
  • Manjari Lakshmanan, with a track record of building technology platforms from scratch, championing product visions, and devising roadmaps over more than 11 years of expertise, is aboard as Head of Product
  • Aakash Agarwal has joined as Head of Data Science to drive the enrichment of ML capabilities and the broader data science vision at Credgenics by leveraging his more than 11 years of expertise
  • Sukhpreet Singh has joined as Head of HR with focus on driving a people-centric culture and establishing a strong values driven framework building on his more than 11 years of experience
  • Abhishek Sharma, with more than 13 years of diverse experience in Solution Sales, Technology Consulting, and Business Advisory is onboard as Director of Sales, to drive Credgenics’ rapid business expansion

Commenting on the leadership expansion, Rishabh Goel, Co-founder and CEO, Credgenics said,“The banking and fintech ecosystem is rapidly understanding the value of automating debt collections and resolutions spurred on further by evolving business needs, rising customer expectations and enhanced regulatory push from the RBI. The business value that we are delivering to our existing customers combined with our continued focus on innovation is helping us grow at a past pace. The new leadership team will propel us into the next orbit of growth.”

 

Anand Agrawal, Co-founder and CTO, Credgenics said,“The strong demand for a mature, comprehensive and end-to-end digital platform in collections that we have seen over the past one year is extremely encouraging. We are looking at further enhancing our pace of disruptive innovation and adding more value to our customers through new use cases and increasing focus onML and data science capabilities. Addition of the leadership team with diverse expertise and skills will help us move ahead in our vision to establish Credgenics as a global leader in the debt recovery space.”

Angel One achieved 108.7% YoY growth in its client base at 10.10 million in May 2022
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Angel One achieved 108.7% YoY growth in its client base at 10.10 million in May 2022

Jun 9, 2022 by Praveen 0 Comments #Angel One, #Growth

Fintech company Angel One Limited (formerly Angel Broking Limited) continues to record strong performance across business parameters in May 2022. The company achieved a significant milestone with its client base expanding to 10.10 million in May, a 108.7% YoY growth. The gross client acquisition for the month was 0.47 million, a 10.2% YoY growth, indicating continued growth momentum.

The Fintech company processed 70.63 million orders, a 48.4% YoY growth, in May 2022. The company also registered impressive numbers in other areas, as its overall Average Daily Turnover (ADTO) grew by 88.2% YoY to Rs 8.94 trillion in May 2022. Angel One’s average client funding book surged by 60.4% YoY to Rs 18.84 billion.

Commenting on the growth numbers, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “Our goal is to make investment solutions accessible to as many people as possible. The journey to 10 million clients, a feat achieved by only a few in the industry, has been extremely exciting. Angel One has always aimed to provide its clients with the best-in-class products and services that lead to solid wealth creation. We are glad that we are making investments simplified for so many individuals in the country.”

Mr. Narayan Gangadhar, Chief Executive Officer, Angel One Ltd, said, “We are growing across business parameters, and it has been possible only because of our technologically advanced products. I feel extremely happy for the trust our clients have put in us, as we partner with them in their wealth creation journey. Going forward, we are look to serve an expansive client base as we set ourselves to claim market leadership. Our endeavour is to constantly improve and provide the most beneficial solutions to our clients.”

Angel One is democratizing the capital market by making it accessible to people across India, even in tier 2, 3 cities & beyond. To further simplify investment, the company recently launched its Super App for limited users. The Angel One Super App is a powerful web and mobile platform built on the principles of simplicity, reliability, availability, swiftness and transparency.

First In-Person Satellite Industry Forum After COVID Sees the Industry in Strong Shape and Geared for Growth
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First In-Person Satellite Industry Forum After COVID Sees the Industry in Strong Shape and Geared for Growth

Jun 6, 2022 by Praveen 0 Comments #Growth, #Satellite Industry

he Asia Video Industry Association was finally able to host its annual Satellite Industry Forum in-person in Singapore on 31st May 2022 after a two-year hiatus, bringing together over 120 delegates from around the world and some of the satellite industry’s most foremost leaders.

Opening the Forum this year was keynote speaker, Steve Collar, Chief Executive Officer, SES, to address the issue of where future growth was coming from and kicked off the session with his views on demand and supply in the market. As platforms were getting longer to get built and become operational, it showed how difficult it was to get launches done, and how much the industry overestimated supply. Collar added that SES had always been a champion of multi-orbit, and not just having both MEO and GEO satellites, but also constructing a global network for customers to move seamlessly from one to the other to maximize the benefits of both. Collar also shared his excitement on demand, and the new applications and new services that could be run, with a sweet spot being the high throughput and high connectivity services which represented a significant market for SES.

Access to space was also what made the industry exciting, as technology continued to develop both in space and on the ground. However, he also highlighted that space sustainability was critical, with the industry having a duty and moral obligation to treat space in a sustainable way. “Our job is to make sure that space will be used by future generations, and the access to space is equivalent to what we enjoy today and hopefully more in the future,” said Collar.

COVID also saw the resurgence of the linear broadcast, with video having done very well over the last two years. Collar remained committed and excited on the long-term aspects of the video business, particularly in Asia. And while it was not going to be the source of growth, it was still overwhelmingly the source of cashflow.

This sentiment was also shared by some of the largest satellite operators in the region during the Satellite Operators’ Roundtable. Terry Bleakley, Regional Vice President, Asia Pacific, Intelsat, talked about the importance of satellite to video and how long-term agreements were still being signed with satellite operators. In terms of advertising in Asia Pacific, by 2024, $43.5 billion would come from broadcast and linear television, whereas OTT was only going to bring in $30 – 33 billion, hence linear was still generating more money. Patrick French, Executive Vice President, Global Business Development and Strategy, ABS, added that video still had a long lifetime ahead, and the core of Asia for the longer term. Software defined satellites were also going to be addressing all market segments and would de-risk the business case going forward.

From the manufacturer’s perspectives, Vaibhav Magow, Vice President, International Division, Hughes Network Systems, also said this was the most exciting time for the satellite industry, as software defined satellites could change and swap the configuration of what was being offered to the customers, and easily adapted to the change of demand. Joe Bogosian, Vice President, Global Sales & Marketing, Boeing Commercial Satellite Systems International, also agreed that software defined satellites were going to drive much higher utilisation of CAPEX that was going up, and multi-orbits were going to enable more efficient use of this CAPEX and were able to serve different applications more efficiently for LEO and GEO.

Closing off the Forum was Bill Carlin, Senior Manager, Global Sales, AWS Aerospace & Satellite Solutions whose interest in space and satellite was on the vast amount of data that was being collected and created from space, and soon in space, with a future view of launching data centers on the moon and even on Mars. “I see the ability of moving the cloud to space. If we move high speed computing to space, we can do all the things that we do on earth that require high volumes of computing, storage or analytics,” said Carlin.

The Satellite Industry Forum is generously sponsored by AsiaSat, AWS Aerospace & Satellite, Gilat, Hughes, Kymeta, Marsh, MEASAT, Milbank, SES, SpaceBridge, SpaceLogistics and Thaicom.