Mumbai, July 21 (IANS) Oberoi Realty on Monday reported a 28 per cent year-on-year (YoY) drop in its consolidated net profit to Rs 421 crore for the quarter ended June (Q1 FY26), compared to Rs 585 crore in the same period in previous fiscal (Q1 FY25).The decline in profit was driven by a steep fall in revenue, which dropped nearly 30 per cent to Rs 988 crore from Rs 1,405 crore in the year-ago quarter, according to its stock exchange filing.Its operating performance also weakened during the quarter. EBITDA fell 36.2 per cent to Rs 520 crore from Rs 815 crore, and margins shrank to 52.7 per cent, down from 58 per cent in the same quarter previous year.Despite the year-on-year (YoY) decline in financials, Oberoi Realty saw a healthy pickup in business activity.The company recorded a 30.2 per cent increase in units booked, rising to 181 units from 139 a year earlier.The carpet area booked also grew significantly by 67.3 per cent to 3.53 lakh square feet, while gross booking value jumped 53.6 per cent to Rs 1,639 crore from Rs 1,067 crore.Oberoi Realty also announced an interim dividend of Rs 2 per share, with July 25 set as the record date to determine eligible shareholders. The dividend will be paid on or before August 7.Shares of Oberoi Realty closed flat at Rs 1,835.5 on the Bombay Stock Exchange (BSE) on Monday, just before the results were announced, while the benchmark Sensex gained 0.54 per cent for the day.“This is to inform you that the Board of Directors of the company at their meeting held on July 21 has declared interim dividend for FY25-26 at the rate of Rs 2 per equity share, i.e. 20 per cent of the face value of equity shares of Rs 10 each,” the company informed the BSE through the filing.–IANSpk/na

Mumbai, July 21 (IANS) Havells India on Monday reported a net profit of Rs 347.53 crore in the first quarter (Q1) of FY26, down 32.78 per cent on quarter-on-quarter (QoQ) basis from Rs 517 crore in Q4 FY25.Revenue from operations also dropped by 16.63 per cent, falling to Rs 5,455.35 crore from Rs 6,543.56 crore in the previous quarter, according to its stock exchange filing.Total income for the quarter also followed suit and stood at Rs 5,524.53 crore — marking a 16.45 per cent decline from Rs 6,612.28 crore in Q4 FY25.Year-on-year (YoY), the company also saw a drop in its profit. Consolidated profit after tax (PAT) fell 14.75 per cent from Rs 407.51 crore in the April-June quarter of the previous fiscal.Revenue from operations also declined 6 per cent YoY from Rs 5,806.21 crore in Q1 FY25.The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell to Rs 570 crore, slightly lower than Rs 576 crore in the same quarter previous year.The EBITDA margin dropped to 5.6 per cent, compared to 9.9 per cent a year ago, as per its exchange filing.Havells attributed the weak performance to an unusually mild summer this year, which hurt demand for cooling products like fans and air coolers.It noted that while industrial and infrastructure demand remained strong, consumer sentiment was weak.”Tepid summer this year, in contrast to the strong season last year, led to significant decline in cooling products,” the company said in its exchange filing.Among its segments, wires and cables performed strongly, with revenue rising 27.1 per cent to Rs 1,933 crore compared to Rs 1,521 crore a year ago.However, the lighting and fixtures business slipped 3.1 per cent to Rs 374 crore.The company also highlighted that the performance of its Lloyd brand was impacted due to unseasonal rains and a shorter summer, leading to higher inventory levels and flattish growth in the first half of the calendar year.The results were announced after market hours. Ahead of the announcement, Havells’ stock closed 0.95 per cent higher at Rs 1,533 on the National Stock Exchange (NSE).–IANSpk/na

New Delhi, July 21 (IANS) Deepak Bagla has officially assumed charge as the Mission Director of the Atal Innovation Mission (AIM), said NITI Aayog on Monday.“Bagla joins AIM with an extensive background spanning banking, investment promotion, policy advisory, and institutional leadership,” NITI Aayog said.“His experience extends across multilateral institutions, the private sector, and Government, bringing a unique blend of strategic insight and operational execution to the role,” it added.Before this, Bagla served as the Managing Director and CEO of Invest India, a national investment promotion and facilitation agency.Under his leadership, Invest India received multiple global accolades and emerged as a key institution supporting entrepreneurship, innovation, and startup growth across the country.Bagla has also served on several high-level government committees and represented India in multiple international forums, including as President of the World Association of Investment Promotion Agencies (WAIPA).He holds a Bachelor’s degree in Economics from St. Stephen’s College, University of Delhi, and Master’s degrees in International Diplomacy and International Trade and Finance from Georgetown University, Washington, D.C.“It is a privilege to join Atal Innovation Mission at this pivotal moment. As AIM enters a new phase with an expanded mandate, there is an immense opportunity to further strengthen India’s innovation landscape,” Bagla said.“I look forward to working collaboratively with government, industry, academia, and civil society to nurture a robust ecosystem that drives inclusive growth and positions India at the forefront of global innovation and deliver on the Hon’ble Prime Minister’s vision of a Viksit Bharat,” he added.Established in 2016, AIM is a flagship initiative of NITI Aayog, which continues to play a central role in advancing the government’s mission on innovation and entrepreneurship. It aims to promote and encourage entrepreneurship, employing self-employment and talent utilisation.–IANSrvt/

Mumbai, July 21 (IANS) The Aditya Birla Group-owned cement company UltraTech Cement on Monday reported a net profit of Rs 2,220.91 crore in the April-June quarter (Q1) of current fiscal, down 10.26 per cent from Rs 2,474.79 crore in the previous quarter (Q4 FY25).Revenue from operations also declined by 7.75 per cent, falling to Rs 21,275.45 crore in Q1 from Rs 23,063.32 crore in Q4, according to its stock exchange filing.Similarly, total income dropped 7.38 per cent to Rs 21,455.68 crore, while total expenses were down 8.18 per cent to Rs 18,405 crore compared to the previous quarter.However, when compared to the same quarter last year (year-on-year), the company showed strong growth.Net profit jumped 49 per cent year-on-year (YoY) from Rs 1,493.45 crore, and revenue rose 17.7 per cent from Rs 18,818.56 crore in Q1 of the previous fiscal.The improved annual performance was driven by a 9.7 per cent increase in sales volumes, reaching 36.83 million tonnes, helped by the recent integration of The India Cements Limited and the cement business of Kesoram Industries.The company also saw stronger cement prices in southern and eastern markets due to rising demand in infrastructure and real estate, along with market consolidation.UltraTech’s EBITDA rose 44 per cent year-on-year to Rs 4,591 crore. Operating EBITDA per tonne improved to Rs 1,248, up Rs 337 from the same quarter previous financial year.The operating margin stood at 21 per cent in Q1 FY26, compared to 16 per cent in the year-ago period, the company said in its filing.Following the results, UltraTech Cement’s shares closed the Monday’s trading session at Rs 12,561, up by 0.5 per cent or Rs 63 apiece on the National Stock Exchange (NSE).In last five days, the shares gave almost flat return of Rs 59 or 0.47 per cent, as per the official data.Meanwhile, earlier this month, reports surfaced regarding a probe by the Competition Commission of India (CCI) into alleged cartelisation involving UltraTech Cement’s subsidiary, India Cements.The investigation stemmed from a complaint by ONGC, which accused several cement companies of colluding during its tendering process.However, UltraTech Cement denied any such investigation. In a stock exchange filing on July 5, the company dismissed the media reports as “false and misleading.”–IANSpk/na

Mumbai, July 21 (IANS) Snapping the losing streak, the Indian stock market closed in the positive territory on Monday, following value buying in banking heavyweights, as Sensex gained over 442 points.Sensex settled at 82,200.34, up 442.61 points or 0.54 per cent. The 30-share index opened in green at 81,918.53 against last session’s closing of 81,757.73. However, the index experienced a volatile session, hitting intra-day low at 81,518.66.Nifty50 closed at 25,090.70, up 122.30 or 0.49 per cent.Analysts said that positive results from banking majors supported the market to rebound after many days of consolidation.“The market remains highly reactive to earnings, indicating that investors remain focused on the earnings front to aid valuation,” they added.The manufacturing segment gained today as the government is reviewing the scope of expanding the infrastructure spending to support growth.In the Sensex basket, Zomato, ICICI Bank, Adani Ports, HDFC Bank, Mahindra and Mahindra, BEL, Kotak Bank, Tata Motors, Bajaj FinServ, L&T, Power Grid and Kotak Mahindra Bank settled in positive territory. While Reliance, HCL Tech, Hindustan Unilever, TCS, and ITC were closed in red.Meanwhile, 28 stocks advanced, 21 declined, and one remained unchanged from the Nifty50.Among sectoral indices Bank Nifty soared 430 points or 1.62 per cent and, Nifty Auto jumped 0.67 per cent or 160 points. At the same time Nifty IT and Nifty FMCG ended the session in red.Broader indices witnessed a sharp rally with Nifty 100 closed 121 points higher, Nifty Midcap 100 surged 363.85 points, and Nifty Next 50 settled 278 points up.”Persistent uncertainty surrounding ongoing trade negotiations between the US and India tempered overall market gains, with investors closely monitoring the outcome of these high-stakes discussions for further cues, according to Ashika Institutional Equities.Rupee traded weak by 0.18 per cent at 86.25 as focus shifts to this week’s Fed Chair Powell’s speech, which is expected to drive volatility in the dollar index.Additionally, key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants, said Jateen Trivedi from LKP Securities.–IANSaps/na

New Delhi, July 21 (IANS) Over 1.53 lakh offers have been made by the top companies in the country to youth during the first two rounds of the Prime Minister Internship Scheme (PMIS) that was launched in October 2024, Minister of Finance and Corporate Affairs, Nirmala Sitharaman, informed the Lok Sabha on Monday.The minister said in a written reply that in round one of the PM Internship Scheme Pilot Project, the partner companies posted more than 1.27 lakh internship opportunities on the PMIS Portal across the country.Against this, more than 6.21 lakh applications were received from about 1.81 lakh candidates. Partner companies made over 82,000 internship offers to over 60,000 candidates, out of which more than 28,000 candidates accepted offers to join the internship, and over 8,700 candidates joined their internship.She further stated that in round two of the PM Internship Scheme Pilot Project, which commenced on January 9, 2025, about 327 partner companies have posted over 1.18 lakh internship opportunities (new and edited unfilled opportunities of previous round) across 735 districts of the country.Over 4.55 lakh applications were received from over 2.14 lakh applicants, in this round. As on July 17, 2025, partner companies have made over 71,000 offers to youth and over 22,500 offers have been accepted.”Currently, rolling out of offers and the process of acceptances/ joining by interns is in progress,” Sitharaman added.The PM internship scheme was announced in the Union Budget 2024-25. It aims to provide internship opportunities to one crore youth in top 500 companies in five years.As an initiation to this scheme, Ministry of Corporate Affairs launched a Pilot Project of the scheme on October 3, 2024, which is targeted to provide 1.25 lakh internship opportunities to the youth in one year.Youth between the age group of 21-24 years, who have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B. Pharma, etc. and are not employed full-time and not engaged in full-time education are eligible to apply.The Ministry of Corporate Affairs is actively working with various stakeholders such as state governments, industry associations, educational institutions etc. for promotion and implementation of the scheme, Sitharaman said.The ministry is also carrying out information, education and communication activities to reach out to the target groups across the country, she added.–IANSsps/na

New Delhi, July 21 (IANS) Eternal, the parent company of online food delivery platform Zomato, on Monday reported a massive 90 per cent year-on-year decline in consolidated net profit at Rs 25 crore in Q1 FY26, compared to Rs 253 crore in the same quarter last fiscal (Q1 FY25).On the sequential basis (month-on-month), Zomato clocked 35.89 per cent drop in net profit, from Rs 39 crore in the Q4 FY25, according to its stock exchange filing.The Zomato and Blinkit operator registered revenue from operations at Rs 7,167 crore, up around 70 per cent from Rs 4,206 crore a year ago.On the profitability front, consolidated Adjusted EBITDA declined 42 per cent on-year to Rs 172 crore in Q1 FY26, “largely on account of the continuing investments in quick commerce and going-out”, the company said in its shareholders’ letter.It was “partly offset by the improvement in food delivery Adjusted EBITDA margin (as a percentage of NOV) to 5.0 per cent from 3.9 per cent a year ago, said Eternal.In its quick commerce business Blinkit, the margins improved from -2.4 per cent of net order value (NOV) in Q4 FY25 to -1.8 per cent despite continued investments in new store roll-outs and seasonal factors.“We added 243 net new (Blinkit) stores this quarter, taking our store count to 1,544 stores by the end of the quarter. We are on track to get to 2,000 stores by Dec 2025,” said the company.The NOV of its B2C businesses grew 55 per cent YoY (16 per cent QoQ) to Rs 20,183 crore in Q1 FY26.“This was the first quarter where our quick commerce NOV exceeded food delivery NOV for the full quarter. On an annualised basis, we are now at almost $10 billion of annual NOV across our B2C businesses and quick commerce is now our largest B2C business contributing to almost half of this annualised NOV,” said Eternal.Eternal CEO Deepinder Goyal said that “the YoY growth is likely to bottom out now as we recover from the demand slowdown we started seeing in late 2024”.“For FY26, it looks unlikely that the business will deliver a 20 per cent+ NOV growth but we should be north of 15 per cent and hopefully trending towards 20 per cent YoY growth in FY27,” said Goyal.Going forward, the company will only be disclosing NOV (and will discontinue disclosing GOV), as “we believe that NOV is a better measure of growth in our B2C businesses including food delivery”.Earlier this month, Eternal appointed Aditya Mangla as CEO of its food ordering and delivery business for a period of two years.“I am super excited to see how Aditya shapes the future of Zomato over the next two years, until it is time to hand over the baton to someone else,” said Goyal in the shareholders’ letter.–IANSna/

New Delhi, July 21 (IANS) India is leading a transformative shift in how reality is experienced and Qualcomm Technologies envision a future where smart glasses become as integral to daily life as smartphones, seamlessly handling everyday tasks, the leading chip manufacturer said here on Monday.Qualcomm kicked off its ‘Snapdragon for India–XR Day’ event here, uniting top tech experts, developers, partners, media, and creators to fuel the growth of spatial computing in India.The event featured immersive demos and real-world use cases across entertainment, content creation, fitness, and education, spotlighting Qualcomm’s leadership in smart glasses and extended reality.According to Alex Katouzian, Group General Manager, Mobile, Compute & XR (MCX) at Qualcomm Technologies, Snapdragon XR platforms have powered 100+ immersive devices globally, and continue to deliver best-in-class experiences across mixed reality (MR), virtual reality (VR), and augmented reality (AR).On stage, Alex demonstrated a SLM (small language model) running completely on a pair of AI glasses, showing the versatility of Snapdragon platforms to run AI across the cloud, local and on-device solutions.As part of the vision, Qualcomm is powering smart glasses being developed by partners like Lenskart, with Snapdragon chipsets. This move reflects a concerted effort to bringing cutting-edge, AI-enabled smart eyewear solutions to Indian consumers.“Snapdragon platforms are engineered to deliver a balance of sleek, lightweight design with powerful functionality, making smart glasses practical and intuitive for everyday use. This milestone signals a new era in bringing spatial computing to Indian consumers and positioning India prominently in the global immersive technology ecosystem,” said Savi Soin, Senior Vice President and President, Qualcomm India.Aligned with the vision of Viksit Bharat, this technology will empower frontline workers, transform education in remote areas, and enable truly inclusive digital access, he mentioned.As Qualcomm Technologies continues to expand beyond smartphones, it remains committed to enabling transformative innovation across industries, accelerating India’s drive in spatial computing technologies.–IANSna/

Mumbai, July 21 (IANS) Mahindra Logistics on Monday reported a wider net loss of Rs 9.44 crore on sequential basis in the first quarter (Q1) of FY26, compared to a loss of Rs 5.29 crore in the previous quarter (Q4 FY25).However, the Mumbai-based company’s revenue from operations rose to Rs 1,624.59 crore in Q1, up 3.54 per cent from Rs 1,569.51 crore in the previous quarter, according to its stock exchange filing.Its total income also saw a growth of 3.69 per cent on quarter-on-quarter (QoQ) basis, reaching Rs 1,629.66 crore compared to Rs 1,571.68 crore in Q4 FY25.However, total expenses during the quarter grew at a faster pace — rising by 4.12 per cent to Rs 1,635.44 crore from Rs 1,570.75 crore in the previous quarter, the company stated in its regulatory filing.The increase in expenses was mainly due to higher operating costs and employee benefits.Operating expenses stood at Rs 1,407.4 crore, employee costs were Rs 104.48 crore, while finance cost and depreciation amounted to Rs 22.53 crore and Rs 64.57 crore respectively. Other expenses came in at Rs 36.46 crore.Mahindra Logistics Limited (MLL) is one of India’s third-party logistics (3PL) companies. It is part of the Mahindra Group, operating under Mahindra Partners, the group’s private equity arm.It provides supply chain and enterprise mobility solutions to over 400 corporate clients across sectors such as automotive, engineering, consumer goods, and e-commerce.The company follows an ‘asset-light’ model, focusing on customised and technology-driven logistics solutions rather than owning a large fleet.It also offers employee transportation services under brands like Alyte and Meru, and has a freight forwarding division that manages air, ocean, and project cargo logistics.MLL continues to focus on sustainability and operates globally through subsidiaries and partnerships in countries like the UAE and the UK.–IANSpk/na

New Delhi, July 21 (IANS) India houses nearly 1,700 Global Capability Centres (GCCs) spread across tier 1 and 2 cities, accounting for around 53 per cent of the total number of GCCs worldwide, a report said on Monday.Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai and Pune account for 94 per cent of the total number of GCCs in India, said Vestian Research, an occupier-focused global workplace solutions provider, in its report.The rest 6 per cent GCCs are spread across Kolkata, Kochi, Ahmedabad, Chandigarh, Coimbatore, Vadodara, Nashik, Trivandrum, Jodhpur, Warangal, Baroda, Visakhapatnam, Bhogapuram, Jaipur, Surat, Mohali, Bhubaneswar, Indore, Mysuru, Madurai and Bhopal.According to Vestian Research, the total number of GCCs in India is projected to exceed 2,100 by FY28, growing at a CAGR of 8 per cent. On average, approximately 150 new centres are expected to be established annually.The IT sector leads the landscape in India, accounting for approximately 49 per cent of the total number of GCCs nationwide, followed by the BFSI (Banking, Financial Services and Insurance) sector, which holds a 17 per cent share.Collectively, the Healthcare and Lifesciences, Engineering and Manufacturing, Consulting Services, and Telecom and Media sectors contribute around 19 per cent to the overall number of GCCs in India, the report highlighted.“India’s leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment,” said Shrinivas Rao, CEO, Vestian.However, selecting the right location remains critical to the long-term success of any GCC, he added.Bengaluru has the highest number of GCCs (487) spread across various industries, accounting for 29 per cent of the total number of GCCs in the country.With the presence of 273 GCCs Hyderabad has emerged as the fastest-growing GCC hub in the country. While the NCR region houses 272 GCCs, Mumbai has 207 GCCs, and Pune accounts for 178 GCCs , as per report.GCCs have evolved significantly since their emergence in the 1990s, as companies began leveraging offshore locations for cost-efficient operations and a skilled workforce.From initial focus on IT support and back-office services, GCCs have now become hubs for innovation, research, and development, and their number reached approximately 3,200 centres around the world, according to the report.–IANSaps/na