Posts

BANK OF MAHARASTRA FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31st Mar 2024

-
Image
  by Priya Jadhav RESULTS AT A GLANCE  Quarter 31 st  Mar 2024 vis a vis Quarter 31 st  Mar 2023 Total Business grew by 15.94 % to ₹ 474,411   Total Deposits increased by 15.66 % to ₹ 270,747   Gross Advances increased by 16.30 % to ₹ 203,664   Credit – Deposit (CD) Ratio improved to 22 %. Gross NPA declined to  88 % as on 31.03.2024. Net NPA reduced to 20 % as on 31.03.2024. Provision Coverage Ratio improved to 34 %. Ø  Operating profit grew by 19.10 % to ₹ 2,210 crore. Net Profit increased by 95 % to ₹  1,218  crore as on 31.03.2024 Ø  Net Interest Income increased by 18.17 % to ₹ 2,584 crore. Net Interest Margin (NIM) improved to 97 % as on 31.03.2024. Cost to Income Ratio stood at 38.72 %. Return on Assets (ROA) improved to 73 %. Return on Equity (ROE) improved to 35 %. CRAR stood at  38 % of which Tier I is 13.72%. Net Profit increased by 95 % to ₹ 1,218  crore in Q4FY24 on Y-o-Y basis as against ₹ 840 crore for Q4FY23.  The same is increased by 17.59 % on a Q-o-Q sequential basis
Post a Comment
Read more

Etrav Tech Ltd. Secures $3.9 Mn Investment Led by EaseMyTrip, Expanding Horizons and Propelling Innovation in Travel Tech Industry

-
Image
  Etrav Tech Ltd., headquartered in Mumbai, has recently secured a significant investment of $3.9 Mn (INR 33 Cr) in its second round of funding, led by EaseMyTrip. This strategic infusion of capital, spearheaded by EaseMyTrip, marks a pivotal moment for Etrav Tech, setting the stage for exponential growth and innovation. Specializing in providing comprehensive travel services to B2B travel agents nationwide, Etrav Tech covers a wide array of offerings including air tickets, hotel bookings, holiday packages, visa services, travel insurance, car rentals, and bus tickets. With a robust clientele consisting of over 40,000 + travel agents, 600 + distributors, and 700 + API/white label clients, the company primarily generates revenue from air ticket sales. Under Mr. Heniel Rupaarelia’s leadership, Etrav Tech has experienced exceptional revenue growth, exceeding 100% from FY 2021-22 to 2022-23. Recently, the company expanded its horizons by acquiring UAE’s Eagle Crest DMC, along with its subs
Post a Comment
Read more

Nium Appoints Banking Industry Expert, Alexandra Johnson, to Scale Global Banking and Payment Operations as Chief Payments Officer

-
by Priya Jadhav Mumbai   –  22 April 2024  –  Nium , the leader in real-time cross-border payments, today announced the appointment of Alexandra Johnson as the company’s first Chief Payments Officer. With this newly-created position, Nium sets itself up to closer align itself with partners across the payments ecosystem. Johnson will work across Nium’s markets, leading the Global Banking and Payment Operations teams. She will report into Prajit Nanu, Co-Founder and CEO of Nium. In her role as Chief Payments Officer, Johnson will oversee strategy, day-to-day activities, and the evolution of Nium’s payments network team. She will manage and grow the Nium payments network, applying best practices and regulatory policies globally and will work with the Risk and Compliance teams in each market to enhance frameworks, build new relationships, and build upon the existing strength of the existing financial network of Nium. Her wealth of knowledge and expertise in the banking and payments space w
Post a Comment
Read more

Suraj Estate Developers Limited acquires freehold land admeasuring 1,073 square meters with GDV of Rs. 120.00 Crores

-
April 2024, Mumbai: Suraj Estate Developers Limited, a leading real estate player focused on South Central Mumbai (SCM) market has acquired freehold plot of land admeasuring ~ 1,073.42 square meters situated off Lady Jamshedji Road, Mahim (West), Mumbai for a total consideration of Rs. 33.10 Crores. The project is a redevelopment project which entails redevelopment of 7 tenants/occupants who have vacated their respective premises and the plot is rendered vacant. After deducting the FSI required for rehabilitating the said tenants / occupants of the property and surplus area to be handed over to MHADA, the estimated balance carpet area available for sale is about 2,787 square meters (30,000 sq. ft.) with a GDV of Rs. 120 crores. Commenting on this, Mr. Rahul Rajan Jesu Thomas, Whole Time Director, Suraj Estate Developers Limited, said, “The acquisition enhances our sales potential by Rs 120 crores, strengthening both the company's project pipeline and its financial outlook. At Sur
Post a Comment
Read more

Lilavati Hospital, Mumbai launched “Roshni Cataract Services” an initiative to provide free eye check-ups and cataract surgeries

-
Image
by Priya Jadhav Mumbai, April 19- Lilavati Hospital and Research Centre,has launched the “Roshni Cataract Services” an initiative aimed at performing free eye check-up and cataract surgeries for underprivileged individuals inaugurated by the Founders & Permanent Trustees Kishor Mehta and Smt. Charu Mehta along with Permanent Trustee Rajiv Mehta and board of trustees for Lilavati Hospital & Research Centre, Bandra. Dr. Niraj Uttamani, COO at Lilavati Hospital & Research Centre, Bandra, said cataracts are a major issue in India, causing 70% of blindness and 90% of distorted vision and this initiative aimed to provide essential eye care services to those in need while raising awareness about eye health.
Post a Comment
Read more

JNK India Limited’s Initial Public Offering to open on Tuesday, April 23rd, 2024, price band set at ₹395 /- to ₹415/- per Equity Share

-
Image
by Priya Jadhav   • Price Band of ₹395 /- to – ₹415/- per equity share bearing face value of ₹2/- each (“Equity Shares”) • Bid/Offer Opening Date – Tuesday, April 23rd, 2024 and Bid/Offer Closing Date – Thursday, April 25th, 2024. • Minimum Bid Lot is 36 Equity Shares and in multiples of 36 Equity Shares thereafter. • The Floor Price is 197.50 times the face value of the Equity Share and the Cap Price is 207.50 times the face value of the Equity Share Mumbai, April , 2024: JNK India Limited is in the business of manufacturing the process-fired heaters, reformers, and cracking furnaces (together, the “Heating Equipment”) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. , has fixed the price band of ₹395/- to ₹415/- per Equity Share of face value ₹2/- each for its initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, April 23rd, 2024, for subscription and close on Thurs
Post a Comment
Read more