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Tag: IT

Industry-focused specialist IT / ITES firm eClerx posts 14.2% operating revenue growth in Q1 FY2024-25

Mumbai, 14th August 2024: Mumbai-based eClerx Services Ltd. has announced its quarterly financial results for the period ending June 30, 2024. The company reported a sequential and Y-o-Y growth in revenue numbers. The Indian IT / ITES firm continues to build on its strong delivery track record and remains focused on pursuing organic growth opportunities across key international markets.

Key highlights from the consolidated financial results reported for the quarter ended June 30, 2024

eClerx’s USD operating revenue increased to $93.3 million vs. $83.9 million posted in Q1FY2023-24, an increase of 11.1% YoY and 1.5% QoQ. EBITDA stood at INR 187.3 crore for the quarter and grew 7.0% compared to INR 175.0 crore recorded in Q1 of the previous fiscal. EBITDA margin decreased from 25.3% in the corresponding quarter to 23.3 % for the current quarter.

  • Profit before tax increased to INR 147.9 crore and grew by 5.2 % Y-o-Y, against INR 140.6 crore in last year. Net Profit in this quarter rose by 5.0 % to INR 111.6 crore.
  • Basic earnings per share (EPS) for Q1 FY24-25 has improved to INR 23.1; representing a 4.6 % growth when compared with INR 22.1 clocked in Q1 FY2023-24.
  • Total delivery headcount was maintained at a similar level to that in the preceding quarter, expanding to 17,628 at the end of the June quarter.

Commenting on the firm’s performance, Mr. Kapil Jain, Managing Director and Group CEO at eClerx said, “We announced our 4-year strategic roadmap last quarter, and I am pleased to note that the early signs are encouraging. Deal pipeline is strong, we are working on several cross-sell initiatives, and our value proposition continues to resonate with clients. We are confident that our strategy will deliver results in the coming quarters.”

The Mumbai-based firm counts many Fortune 2000 companies amongst its list of clients. The company has also continued with its trend of winning awards and recognition for its product and service innovation, notable examples of which are noted below

Key developments, initiatives and recognitions

  • eClerx’s GenAI360 Platform won the Silver winner for AI Innovation at the 19th Annual 2024 Globee® Award for Technology in a hotly contested category that saw more than 1,700 nominations
  • eClerx Services Ltd also won two Gold Asia-Pacific Stevie® Awards for its pioneering approach in human resources management and technological innovation.

Greater Pune – A Urban Expansion Benchmark by PMRDA

Akash Pharande, Managing Director - Pharande Spaces

By Akash Pharande, Managing Director – Pharande Spaces

 

The Pune Metropolitan Region Development Authority (PMRDA) oversees an extensive and strategically significant territory now collectively referred to as Greater Pune. It covers both urban and rural regions.

The two key territories under Greater Pune are the Pune Municipal Corporation (PMC) and the Pimpri-Chinchwad Municipal Corporation (PCMC). PMRDA also governs the pivotal Talegaon Dabhade and Lonavala Municipal Councils – the former a strong and growing industrial hub, and the latter arguably Maharashtra’s favourite tourist destination.

Beyond these municipalities, PMRDA also administers numerous suburban and rural areas which are vital for Greater Pune’s expansion and development. These include the rapidly developing industrial hotspots Chakan and Pirangut, as well as Pune’s pre-eminent and pioneering IT hub Hinjawadi.

Among the rural areas are Mulshi, Maval, Khed, Haveli, and Junnar, which are important for their agricultural contributions and potential for future development. Known for their scenic landscapes, Mulshi and Maval are already attracting considerable real estate development.

As can be seen, Greater Pune is vast and diverse and showcases PMRDA’s governance across many major urban centres, IT hubs, industrial zones, and rural areas.

Over the past decade, Greater Pune’s exponential growth stands as a strong testament to PMRDA‘s strategic planning and robust implementation of development initiatives. But is this pace of growth really necessary? Let’s look at the facts.

city-planning

Population Growth and Urbanization

As of 2024, Pune’s population is estimated to be around 7.35 million in the metropolitan area and approximately 4.44 million within the city limits. Its vast talent pool across all employment categories is Greater Pune’s greatest asset, and this population needs to be accommodated.

It stands to reason that the region’s real estate sector has been booming. According to data from MahaRERA (Maharashtra Real Estate Regulatory Authority), there has been a consistent rise in the launch of new housing projects. In 2023 alone, Pune saw over 50,000 new homes launched, while Pimpri-Chinchwad added 20,000.

Prominent real estate developers have been having a field day – or rather, a field epoch – launching massive projects to aid this expansion. Given that home seekers in Greater Pune are looking for options across categories, a large number of these projects offer modern amenities that cater to the middle and upper-middle-class homebuyer segments.

While the supply of affordable housing projects has been more muted due to decreased demand, the market is replete with options even in this category.

Infrastructure Development

Across the length and breadth of Greater Pune, PMRDA has consistently focused on infrastructure development as a cornerstone of the region’s urban growth. One prime example is the Pune Metro which, in just the first phase, will connect key areas like Hinjewadi, Shivajinagar, and Pimpri. The reduced commute time creates more housing demand across all areas.

Additionally, the 128 km Ring Road will decongest city traffic by giving Greater Pune an alternative road travel route and connecting various parts of the region across major highways and economic zones. For Pune’s economic triple engine of IT, manufacturing, and the services sector, this spells gold and will massively boost trade and commerce. According to recent reports, absorption in Pune’s commercial office space reached 6.5 million square feet in 2023.

Sustainable Urbanization

PMRDA‘s commitment to Greater Pune includes a strong focus on sustainable urbanization. It has now made it mandatory that green spaces and energy-efficient designs be included in all new projects. Also, digital infrastructure, smart transportation, and efficient waste management have been prioritized.

Social Infrastructure

The growth of Greater Pune extends beyond just economic and infrastructural development. PMRDA is keenly aware that for overall quality of life and livability, adequate social infrastructure to support its growing population is of paramount importance. Not surprisingly, the region under its aegis boasts top-grade schools and colleges, hospitals, and recreational amenities.

To summarize…

Under the able administration of PMRDA, Greater Pune’s urban expansion has emerged as one of the most impressive success stories of planned growth, economic prosperity, and sustainable development. It sets a new benchmark for urban and urbanizing India, demonstrating how strategic governance and innovative planning can create a thriving, modern metropolis.

With continued focus on infrastructure, sustainable development, and quality of life, Greater Pune is poised to be a model city for the future, embodying the aspirations of a rapidly urbanizing nation.

About the Author:

Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in Greater Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in the region. With the recent inclusion of Puneville Commercial into one of its most iconic townships, Pharande Spaces taken a major step towards addressing Pune’s current and future requirements for fully integrated residential-commercial convenience

Elista strengthens leadership team with strategic senior appointments

New Delhi, June 4, 2024 – Elista, one of India’s leading electronics, home appliances, IT, and mobile accessories brand under TeknoDome, has announced the appointment of two seasoned professionals to its leadership team. The new hires, Mr. Harender Kumar Prajapati and Mr. Rupesh Kumar, bring a wealth of experience and expertise to their respective roles.

Mr. Harender & Mr Rupesh Kumar

Mr. Harender Kumar Prajapati, an industry veteran with over 29 years of experience in electronics, PCBA, and consumer industries, takes on the role of Plant Head. With a background in engineering and operations management, Mr. Prajapati has held various leadership positions across prominent organizations, overseeing production process operations, optimizing resource utilization, and driving startup businesses. His expertise in planning operational strategies and implementing quality management systems will be invaluable as Elista continues to expand its manufacturing capabilities in India and offshore.

At Elista, Mr. Harender Kumar Prajapati will be instrumental in leading the local manufacturing capabilities of the company to deliver cutting-edge consumer electronics and home–appliances at the most affordable prices.

Mr. Rupesh Kumar, a strategic leader with nearly 20 years of multi-cultural and diversified experience, joins Elista as the Chief Financial officer (CFO). He has a proven track record of steering entire financial operations, taxation, and audit functions in the manufacturing, digital solutions, and electronics industry. His extensive experience in interacting with bankers, government departments, and auditors for fund-raising, assessment, and audit purposes will be instrumental in driving Elista’s financial strategy forward.

Commenting on the appointments, Mr Saket Gaurav, Chairman & MD of Elista, expressed his enthusiasm, stating, “We are pleased to welcome Mr. Rupesh Kumar and Mr. Harender Kumar Prajapati to the Elista family. Their extensive experience and proven leadership skills will fortify our team, reinforcing our commitment to excellence. With our plans to open new manufacturing plants, their insights and expertise will be instrumental in our mission to innovate and expand, reinforcing our commitment to excellence.”

With these strategic appointments, Elista reinforces its commitment to delivering high-quality products and driving operational excellence in the Indian market. Elista is positioned as a key influencer in shaping India’s consumer electronics landscape through a commitment to technological advancement and local production capacity.

The investment in two cutting-edge manufacturing plants in Kadapa, Andhra Pradesh, lays the groundwork for significant output, targeting an annual production of 1,000,000 TVs and 1,000,000 LED monitors. These facilities will bolster local manufacturing capabilities and help the company introduce innovative yet pocket-friendly products tailored for both domestic and international markets.