Mahindra Lifespaces' Consolidated Total Income up 28% in Q1 FY18

Mumbai, July 25, 2017: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended June 30th, 2017 today.

FINANCIAL PERFORMANCE The consolidated total income does not include the impact of line by line consolidation of key operating entities which are now consolidated based on share of profits proportionate to equity holding.    • The consolidated total income for the quarter stood at Rs. 148.7 crores as compared to Rs. 115.7 crores in Q1 FY17 and compared to Rs 342.5 crores in Q4 FY17. • The consolidated PAT, post minority interest, stood at Rs. 13.8 crores for Q1 FY18 compared to Rs. 17.5 crores in Q1 FY17 and Rs 17.4 crores in Q4 FY17.  

BUSINESS HIGHLIGHTS 
During Q1 FY18, the Company successfully completed its rights issue and raised Rs 300 cr.
In the residential business, Mahindra Lifespaces sold 255 units worth Rs. 138 crores in the first quarter of the year. Over 60% of these units were in the Rs 50 Lacs and below category. Having handed over 2250 units to customers during the last fiscal, the Company continued its execution momentum with the hand over of over 360 units across 8 projects in the first quarter including at its affordable housing project, Happinest in Boisar, Mumbai. The Company is currently awaiting approvals for 6 of its new projects and plans to launch the same upon receipt of the relevant approvals.

In the integrated cities & industrial clusters business, the Mahindra World Cities at Chennai and Jaipur leased 10 acres to 2 new customers. Significant progress has been made on the approvals for the new industrial cluster in North Chennai project, work on which will commence in the second quarter of the year.  The Company has also initiated the approval process for its 2nd industrial cluster in Gujarat after completing the acquisition of land in Q4FY17.

The Company received the “Golden Peacock Environment Management Award” (GPEMA) for its efforts in sustainable urban development across India.

Commenting on the first quarter of the year, Anita Arjundas, Managing Director, Mahindra Lifespace Developers Ltd., said, “Deep rooted regulatory changes have dominated the first quarter of this fiscal. While the effect of such changes will have a near term impact on the industry, we believe that in the medium to long term, such changes will reflect positively on the opportunities available to Mahindra Lifespaces to grow its business across segments. "

About Mahindra Lifespace Developers Ltd. 
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the Mahindra Group, is one of the leaders and pioneers in sustainable urban development, through the creation of residential and integrated large format developments across multiple city-clusters – Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Ahmedabad, Nashik, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai.  As of June 30th, 2017, the Company’s residential & commercial development footprint includes 1.31 million sq.m. (14.06 million sq. ft.) of completed projects and 0.81 million sq. m. (8.7 million sq. ft.) of ongoing and forthcoming projects.

The Company is developing two large format integrated business cities, under ‘Mahindra World City’ brand, in Chennai and Jaipur; built on the philosophy of ‘Livelihood-Living-Life’, these developments span over 4000 acres, house over 130 global and Indian companies and serve to drive economic growth and community development. In addition, Mahindra Lifespaces enables access to quality housing at affordable prices via its brand ‘Happinest’.  

Mahindra Lifespaces is the first Indian real estate company to have voluntarily released its GRI compliant report based on the GRI (Global Reporting Initiative) framework.  In 2016, Mahindra Lifespaces has been ranked 28th amongst the ‘Top 100 companies in Asia’ in the 2016 Channel News Asia Sustainability ranking.   

Read More »

CATHAY PACIFIC RELEASES COMBINED TRAFFIC FIGURES FOR MAY 2017

Cathay Pacific Airways today released combined Cathay Pacific and Cathay Dragon traffic figures for May 2017 that show a slight decrease in the number of passengers carried and an increase in cargo and mail uplifted compared to the same month in 2016.

Cathay Pacific and Cathay Dragon carried a total of 2,849,475 passengers last month – a decrease of 0.5% compared to May 2016. The passenger load factor grew by 0.2 percentage points to 84.2%, while capacity, measured in available seat kilometres (ASKs), and increased by 1.5%. In the first five months of 2017, the number of passenger carried declined by 0.2% while capacity rose by 1.0%.

The two airline s carried 161,743 tonnes of cargo and mail last month, an increase of 11.5% compared to the same month last year. The cargo and mail load factor rose by 4.1 percentage points to 66.3%. Capacity, measured in available cargo/mail tonne kilometres, was up by 1.2% while cargo and mail revenue tonne kilometres (RTKs) increased by 8.0%. In the first five months of 2017, the tonnage rose by 11.3% against a 1.8% increase in capacity and an 8.4% increase in RTKs.

Cathay Pacific General Manager Revenue Management Patricia Hwang said: “May is traditionally one of the slower months of the year, and we saw a weakening in passenger demand for regional leisure travel after the Easter holiday period. On a brighter note, there has been an uptick in demand for premium class travel. Traffic on long-haul routes remained robust in May. Our Tel Aviv flights, which were launched in March, continued to perform well. We will start a seasonal service to Barcelona this summer, which we expect to prove popular with our customers. Meanwhile, yield continues to come under intense pressure in the face of competition.” 

Cathay Pacific General Manager Cargo Sales & Marketing Mark Sutch said: “Our cargo business continued to show strong year-on-year growth in May. While the market slowed down during the local Labour Day and Japan’s ‘Golden Week’ holidays, it promptly rebounded on all routes, especially those serving Northeast and Southeast Asia. Yield and demand continued to improve, which reflects the overall strength of the air freight industry. To take advantage of market conditions, we have bolstered our freighter fleet by wet-leasing two Boeing 747-8 freighters from Atlas Air Worldwide, which will supplement capacity on our existing network, including destinations in the United States and Europe.”

The full May figures are on the next page.

CATHAY PACIFIC / CATHAY DRAGON COMBINED TRAFFIC	MAY	% Change	Cumulative	% Change
	2017	VS MAY 16	MAY 2017	YTD
RPK (000)
- Mainland China	757,508	-1.7%	3,724,740	-1.4%
- North East Asia	1,231,334	1.7%	6,626,073	3.3%
- South East Asia	1,441,411	-5.5%	7,369,593	-3.1%
- India, Middle East, Pakistan & Sri Lanka	612,297	-6.2%	2,954,877	-7.3%
- South West Pacific & South Africa	1,234,991	-7.0%	7,282,880	-2.1%
- North America	3,120,448	1.9%	13,949,154	0.3%
- Europe	1,958,596	20.4%	9,847,382	13.9%
RPK Total (000)	10,356,585	1.8%	51,754,699	1.5%
Passengers carried	2,849,475	-0.5%	14,353,003	-0.2%
Cargo and mail revenue tonne km (000)	899,077	8.0%	4,461,081	8.4%
Cargo and mail carried (000kg)	161,743	11.5%	795,211	11.3%
Number of flights	6,642	1.3%	32,967	0.4%

CATHAY PACIFIC / CATHAY DRAGON COMBINED CAPACITY	MAY	% Change	Cumulative	% Change
	2017	VS MAY 16	MAY 2017	YTD
ASK (000)
- Mainland China	1,002,410	1.7%	4,927,401	2.8%
- North East Asia	1,549,506	-2.7%	8,008,800	-1.1%
- South East Asia	1,761,872	-1.5%	8,711,643	-2.3%
- India, Middle East, Pakistan & Sri Lanka	713,169	-8.8%	3,544,291	-10.1%
- South West Pacific & South Africa	1,608,875	1.1%	8,519,472	1.6%
- North America	3,457,549	0.9%	16,326,344	0.2%
- Europe	2,208,787	13.2%	11,078,855	9.8%
ASK Total (000)	12,302,168	1.5%	61,116,806	1.0%
Passenger load factor	84.2%	0.2pt	84.7%	0.4pt
Available cargo/mail tonne km (000)	1,355,074	1.2%	6,779,791	1.8%
Cargo and mail load factor	66.3%	4.1pt	65.8%	4.0pt
ATK (000)	2,524,796	1.3%	12,591,008	1.4%

About Cathay Pacific Airways

Cathay Pacific Airways is an award-winning Hong Kong-based airline offering scheduled passenger and cargo services to more than 174 destinations in 43 countries and territories around the world. Cathay Pacific Airways and Cathay Dragon currently operate 48 weekly departures from 6 cities in India to Hong Kong. Cathay Pacific operates 10 flights a week from Mumbai, 14 flights from Delhi, daily flights from Chennai and 4 weekly flights from Hyderabad. Whereas sister airline Cathay Dragon operates daily flights from Bengaluru and 6 weekly flights from Kolkata. Cathay Pacific Cargo is also one of the biggest air cargo operators in India with 25 scheduled freighter services to and from Mumbai, Delhi, Chennai, Kolkata, Bengaluru and Hyderabad

Read More »

PRESSMAN FY2017 PAT UP 65.55%

Board recommends 65% Dividend



Kolkata, 17 May 2017:  For the year ended 31st March 2017, Pressman Advertising’s Total Income stood at Rs.5161.01 lacs (Rs.4732.85 lacs).


The Company’s Profit before Tax for the year stood at Rs.995.84 lacs (Rs.608.32 lacs) while Net Profit increased by 65.55% to Rs.674.36 lacs (Rs.407.35 lacs).


The Board of Directors has recommended a Dividend of 65% (Rs.1.30 per Equity Share of Rs.2 each) for the year 2016-17, which is subject to Shareholders’ approval at the AGM.


The Company has strong fundamentals with Reserves and Surplus at Rs.2592.77 lacs on an Equity Share Capital of Rs.469.66 lacs.


The Company is engaged in the business of traditional and digital advertising and public relations and is a Google partner.

Pressman is the only advertising agency listed on NSE and BSE.

Read More »

Sonalika ITL continues its growth trajectory by registering 26.9% growth in February

08 March 2017, Chandigarh: Sonalika International Tractors Ltd, India’s third largest tractor brand, makes remarkable progress by registering a whopping 26.9% growth, with a market share of 13% this February. The company sold 5549 units, combining both domestic and exports sales against a figure of 4372 units, sold in February 2016. The export division of the company has achieved an outstanding growth of 153% by achieving a figure of 1060 units sold compared to 418 units in February 2016.

Highlights

·         Sonalika ITL achieved one of its highest ever 13% market share in February’17

·         Company has registered the growth of 26.9% in Feb’17 by selling 5549 units

·         Sonalika ITL exports alone registered growth of 153% by shipping 1060 tractors in Feb’17 over the same period last year

·         Exports division has witnessed the growth of 27% in last 11 months, by exporting 11183 units

 The company’s commitment to build a strong relationship with its customers, has helped to maintain a healthy growth trajectory. ITL has sold 4489 units in the domestic market in February 2017, as compared to 3954 units, in the same month last year. They have registered a growth of 13.5%. To provide the customer with ergonomically advanced products, has helped the company to grow to 27%, in their international business from April 2016 to February 2017.

Mr. Raman Mittal, Executive Director - Sonalika ITL shared, “We are truly delighted with a growth figure of 26.9%. Company have registered highest market share of 13%, and this all because of our continued commitment to providing the best our products to the farmers, that is most suited to their needs. Our brand initiatives, market strategies and after sale services have helped us to maintain our growth trajectory. Our month on month growth is a testimony to our continued efforts in providing the best available experience to our customers through products and services with a complete high-end technical solutions.”


Placing India on the world map Sonalika ITL is marketing its products in over 80 countries, including 25 European countries with product range from 20HO to 120HP, which aremanufactured in India.Sonalika ITL has established, one of the world’s largest integrated tractor manufacturing plant equipped with world-class technologies at Hoshiarpur, Punjab. The new plant will provide a complete agricultural solution to cater to the needs of the global and domestic markets, matching international standards in quality.

About Sonalika International Tractors Ltd:

Sonalika International tractors Ltd.  Manufacturer of heavy duty tractor range, which produces technologically superior tractors in a range from 20HP to 120HP. Today, Sonalika ITL stands as 3rd largest tractor maker in India and is recognized in both domestic as well as international market as a formidable player. The company has earned the trust of over 7 lakhs customers in more than 80 countries in just 2 decades, which is a remarkable growth.


With the increasing demands of tractors globally and to fulfill this demand, Sonalika has a World Class Single integrated tractor manufacturing facility, strategically located in Hoshiarpur, Punjab. This plant has a capacity to manufacture approximately 2 lakhs tractors annually with a roll out time of around 2 minutes per Tractor. The company has strategic business partnership with Yanmar, Japan

Read More »

Hyundai Motor India registers cumulative sales of 52,734 Units

- Registered growth of 6.0% over last year

New Delhi/Chennai, March 01, 2017: Hyundai Motor India Ltd, the country’s leading car manufacturer and the largest passenger car exporter registered domestic sales of 42,327 units and exports of 10,407 units with cumulative sales of 52,734 units for the month of February 2017.

Commenting on the sales performance of Hyundai Motor India, Mr. Rakesh Srivastava, Sr. Vice President - Sales & Marketing, HMIL, said “Hyundai with an all-time highest ever sales of 9,002 units of The Perfect SUV– CRETA had a domestic all models volume of 42,327 with a growth of 4% with increased customer visits and conversions on the strength of improved customer confidence generated by the Union Budget positively impacting the customer disposable income and overall business sentiments. With this Hyundai also continues its positive growth momentum month on month strengthening its brand trust within the customers.”

HMIL sales	Feb 2016	Feb 2017	Growth
Domestic	40,716	42,327	4.0%
Exports	9,013	10,407	15.5%
Cumulative	49,729	52,734	6.0%

About HMIL

Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the largest passenger car exporter and the second largest car manufacturer in India. It currently has eleven car models across segments – Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Creta, Elantra, Tucson and Santa Fe. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities.

HMIL forms a critical part of HMC’s global export hub. It currently exports to around 87 countries across Africa, Middle East, Latin America, Australia and the Asia Pacific. HMIL has been India’s number one exporter for the last 10 years consecutively. To support its growth and expansion plans, HMIL currently has 476 dealers and more than 1,230 service points across India. In its commitment to provide customers with cutting-edge global technology, Hyundai has a modern multi-million dollar R&D facility in Hyderabad. The R&D center endeavours to be a center of excellence in automobile engineering.

Read More »