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Business Wire India - Multimedia: Digest for January 24, 2024

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Amid the flourishing rise of spiritual tourism in India, Cleartrip, a Flipkart company, announces the launch of 'Darshan Destinations'. With the unprecedented travel boom ahead of the temple opening at Ayodhya and the flurry of dignitaries & celebrities heading to the temple town, Cleartrip is doing its bit to help devotees seek the Lord's blessings by offering 1008 complimentary flight tickets to senior citizens to visit Ayodhya. This offer will also be available on the Flipkart Travel platforms.
 
As an ongoing initiative under "Darshan Destinations", Cleartrip and Flipkart Travel are also launching special fares on flights*, hotels & buses to various religious destinations. Travelers can avail of a 20% discount on bus, hotel, and flight bookings to some of India's revered spiritual destinations including Ayodhya, Madurai, Tirupati, Amritsar, Bhopal, Shirdi, Bodhgaya, Kochi, Katra (Jammu). This initiative will be an evolving proposition to offer devotees discounted fares across flights, hotels & buses.
 
The recent surge in spiritual tourism, propelled by Ayodhya, indicates a significant shift in traveller preferences. Cleartrip and Flipkart Travel have observed an overall 1500% increase in searches for Ayodhya across the platform.
 
Speaking on this, Ayyappan Rajagopal, CEO, Cleartrip, said, "As a customer-centric company, Cleartrip caters to the evolving needs of our user base. We understand that spiritual journeys are central to our culture, embodying centuries-old traditions. With more people seeking out these meaningful travels, we wished to make these experiences more accessible and affordable. We are excited to kick off the offering with the upcoming opening of the Ram Mandir in Ayodhya. Our offering, specially tailored for senior citizens who desire to soak in the country's rich heritage, reflects our commitment to meeting the diverse needs of our customers. We hope to inspire and enable other individuals as well to experience the Divine Destinations and easily fulfil their travel aspirations."
 
Through customer-centric initiatives like Darshan Destinations, Cleartrip, and Flipkart Travel will continue to seamlessly blend affordability, accessibility, and a superior travel experience that users across the board desire.
 
*Cleartrip: Flat 20% off on domestic flights to the above-mentioned destinations is available only for senior citizens, over and above senior citizen concession fares. Flat 20% off on hotels and buses is available to above mentioned destinations for all travellers.

Flipkart Travel: Flat 20% off on all domestic flights and hotels to the above-mentioned destinations for all users (limited inventory only)
Business Wire India

Puravankara Limited (BSE: 532891), one of India's most trusted and admired real estate players, announced its financial results today for the third quarter (Q3FY24) ending December 31, 2023.

The company posted a profit of Rs 78 crores in Q3FY24 (+266 per cent Y-o-Y). Sales soared to Rs 1,241 crores in Q3FY24 (+56 per cent Y-o-Y). Sales volume for the quarter stood at 1.63 msft (+60 per cent Y-o-Y) with a strong collection of Rs 941 crores (+52 per cent Y-o-Y). Operating cash inflows for 9MFY24 stood at Rs 2,826 crores (+35 per cent Y-o-Y), and revenue from operations stood at Rs 596 crores (+45 per cent Y-o-Y). Operating surplus for 9M FY24 stood at Rs 965 crores (+101% Y-o-Y). The company launched two new projects, Provident Deansgate in Bengaluru and Purva Soukhyam in Chennai and one new phase for Parkhill in Bengaluru.
 
Commenting on the company's performance, Mr Ashish Puravankara, Managing Director, Puravankara Limited, said, "The results declared for Q3FY24 and 9MFY24 marks a significant milestone in our operational journey. Our total revenue increased by 45 per cent to INR 596 crores. Our net profit for the quarter stood at 78 crores, up by 266 per cent year on year. Our pre-sales reached Rs 3,967 crores in 9MFY24, demonstrating our consistent growth and effective expansion strategy. The notable 52 per cent Y-o-Y increase in collections highlights our commitment to operational efficiency and customer satisfaction.
 
Complementing our operational success, we have also reduced our net debt by Rs 251 crores with significantly improving collections and cash balance. The company is well poised for investments in new acquisitions across regions, with increased liquidity and cash flows enhancing the growth momentum. We are excited and encouraged with our foray into the Mumbai redevelopment market with our first project of approximately 6 lakh sq ft and a potential GDV of Rs 1,500 crores. We are actively pursuing 12 opportunities and are shortlisted with advance discussions ongoing with four societies."
 
Operational Highlights for Q3FY24
 
  • Area sold stood at 1.63 msft (+60 per cent Y-o-Y)
  • Sales value stood at Rs 1,241 crores (+56 per cent Y-o-Y)
  • Sales realisation stood at Rs 7,610/sft (-2 per cent Y-o-Y)

Consolidated Q3FY24 Financial Performance
 
  • Revenue from operations stood at Rs 596 crores (+45 per cent Y-o-Y)
  • EBITDA stood at Rs 218 crores (71 per cent Y-o-Y)
  • Profit stood at Rs 78 crores (+266 per cent Y-o-Y)
Projected Cash Flows

As of 31 December 2023,
 
  • Balance collections from sold units (completed + ongoing) in all launched projects stood at Rs 3,857 crores.
  • Total value of unsold inventory, including new launches in Q3FY24, stood at Rs 5,617 crores.
  • Total estimated surplus from all completed and ongoing projects is Rs 6,747 crores.
 
Debt

Puravankara's net debt stood at Rs 1,741 crores, reduced by Rs 251 crores from the previous quarter. The net debt-to-equity ratio stood at 0.85 for Q3FY24. The weighted average cost of debt stood at 11.49 per cent as of 31 December 2023.
 
Outlook
 
Given the prevailing circumstances globally and on the macroeconomic front, the outlook for the Indian real estate sector remains positive. Despite global uncertainties, India's economy continues to show resilience. Increasing economic activity has led the RBI to revise the GDP forecast to 7 per cent from earlier 6.5 per cent. Puravankara firmly believes that with its new launches and increasing cash flows, it is well-positioned to acquire new projects. The company will improve its position in the Southern markets and increase investments towards new acquisitions in the Western region. This strategy will enable them to gain market share in a continuously consolidating real estate sector. The stability in interest rates and controlled inflation further strengthens economic prospects.
 
Tip Sheet
 
Upon transition to Indian Accounting Standards (Ind AS), including Ind AS 115, the Company has moved from the erstwhile percentage of completion method of revenue recognition to a completed contract method of revenue recognition. The aforesaid change in the timing of revenue recognition has brought a significant variation in the periodical financial results as the revenue is no longer recognised rateably over the project execution period but recognised upon completion of the project and handover of flats to the customers.

adidas Athletes Own the Podium at the Tata Mumbai Marathon 2024

Tuesday 23 January 2024 11:20 AM UTC+00
Business Wire India

The 19th edition of the World Athletics Gold Label Race, the Tata Mumbai Marathon is known for its challenging course and elite participants from across the globe. Widely known as Asia's premier running event, this year the marathon had approximately 59,000+ participants. Even with the fiercely competitive line-up of athletes, 5 adidas International and Indian athletes emerged as winners, owning the podium across categories.
 
The defending Mumbai champion Lemi Hayle who broke the Mumbai course record last year, emerged victorious once again with a time of 02 hours 07 minutes 50 seconds, wearing the record-breaking adidas ADIZERO Adios Pro 3. Along with, Medhin Bejene who secured the third position in the Global Women Elite Category.
 
It surely was a clean sweep for the ADIZERO Adios Pro 3, as the winning streak wasn't just limited to the global categories in the full marathons. But one also witnessed the display of athletic excellence by the adidas Indian athletes in both full and half marathons with Srinu Bugatha owning the Indian Men Elite Category with a timing of 02 hours 18 minutes 29 seconds. Additionally, in the half-marathons, athletes like Sawan Barwal owned the men's podium and Poonam Dinkar Sonune secured 2nd position in the women's India elite category.
 
Conquering the world of racing, the ADIZERO franchise has been the front-runner in breaking records, dominating the races, and topping the podiums. With 8 World Championship titles, 2 broken World Records in 2022, and 45% of all Major Marathons won in 2023, ADIZERO has always dominated races. Even helped global athletes like Tigist Assefa to break the women's world record at the Berlin Marathon in 2023. Now continuing the winning pace in 2024 with 4 podium wins and a world record under the fastest marathon debut in Dubai marathon by Ethiopian runner Tigist Ketema, its once again proven that the new year also belongs to adidas' ADIZERO-wearing athletes.
 
With a focus on empowering athletes and maximizing their potential, adidas has consistently strived to provide top-of-the-line sports equipment. The athletes' outstanding performances serve as a testament to the brand's commitment to excellence and its ability to enhance athletic performance.
Business Wire India

  • Merck Foundation CEO & African First Ladies announced the Call for Applications for Merck Foundation Media, Fashion, Film, and Song Awards 2024
  • Merck Foundation CEO announced the Call for Applications for the Merck Foundation Media, Fashion, Film and Song Awards 2024 for young African talents from the Media, Fashion, Film and Music fields.
  • Link to the Facebook live steam of Merck Foundation Health Media Training session during their Annual conference: https://fb.watch/o1L6C_vBuy/?mibextid=2Rb1fB
​
Merck Foundation, the philanthropic arm of Merck KGaA Germany, conducted their annual conference, the 10th Edition of "Merck Foundation Africa Asia Luminary" recently in India, in the presence of African First Ladies, also the Ambassadors of "Merck Foundation More Than a Mother", as Guests of Honor. During their Annual Conference, Merck Foundation Health Media Training session was conducted on Day 2, for African journalists, to emphasize on the important role the media plays to influence the society to create a cultural shift with the aim to Break Infertility Stigma, Support Girl Education, Stop Gender Based Violence, End Child Marriage, End FGM, and Women Empowerment at all levels and raise awareness about early detection & prevention of Diabetes & Hypertension.

Watch the Merck Foundation Health Media Training session here: https://fb.watch/o1L6C_vBuy/?mibextid=2Rb1fB

The Merck Foundation Health Media Training is a part of 'Merck Foundation More than a Mother' Community Awareness Program.

In 2023, Merck Foundation in partnership with Africa's First Ladies also conducted their online Health Media Training on monthly basis. The training courses were provided for more than 730 journalists from 22 countries such as; Malawi, Burundi, Ghana, Liberia, Sierra Leone, Angola, Mozambique, Kenya, Uganda, Rwanda, Tanzania, Botswana, Namibia, Central African Republic, Benin, Mali, Burkina Faso, Niger, Senegal, Chad, Cameroon, and Zimbabwe.

Moreover, since 2017, Merck Foundation has provided their Health Media Training for more than 3000 media representatives from 35 countries in Africa.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation, Chairperson of Merck Foundation Africa Asia Luminary and President of "More Than a Mother" campaign said, "I have always believed that the media plays a significant role in shaping our society, as it enters every home. The journalists can make a difference through their day-to-day work and create a cultural shift by raising awareness about social and health issues like Breaking Infertility Stigma, Supporting Girl Education, Ending Child Marriage, Stopping GBV and raising awareness about early detection and prevention of Diabetes & Hypertension."

Merck Foundation Health Media Training conducted during the 10th Edition of Merck Foundation Africa Asia Luminary 2023 was chaired by Senator Dr. Rasha Kelej and addressed by top experts from the fields of Fertility, Psychiatry, Diabetes, and media stalwarts from countries like Ghana, DRC, Kenya, Angola, Malawi, Zambia, Zimbabwe, and Mauritius.

During the 10th Edition of Merck Foundation Africa Asia Luminary, the First Ladies of 11 African Countries, also the Ambassadors of Merck Foundation "More Than a Mother", celebrated the 6th Anniversary of Merck Foundation and marked the 11-year journey of Merck Foundation development programs that started in 2012.

During Day 1 of the conference, the Plenary Session of Merck Foundation Africa Asia Luminary 2023 was held, during which a high-level panel meeting of Merck Foundation First Ladies Initiative Summit was conducted, where the African First Ladies shared the impact report of Merck Foundation programs in their respective countries.

During Day 2 of the conference, four important parallel Medical and Scientific Sessions on Oncology, Diabetes & Hypertension, Fertility and Reproductive Care, and Medical capacity building of other specialties such as; respiratory, acute care, emergency pediatric and neonatal care and more, were conducted, in addition to the Merck Foundation Health Media Training session.

Senator, Dr. Rasha Kelej also announced the Call for Applications for 8 important awards in partnership with African First Ladies for Media, Musicians, Fashion Designers, Filmmakers, students, and new potential talents in these fields, during the Merck Foundation Health Media Training.

"I firmly believe that media, art, and fashion play an important role in raising awareness about sensitive social and health issues. Therefore, we have been launching these awards since 2017, in partnership with my dear sisters, the African First Ladies who are also the Ambassadors of Merck Foundation 'More Than a Mother'. I am looking forward to all the entries from African countries for these important awards," Senator, Dr. Rasha Kelej added.

Details of the Awards:

1. Merck Foundation Africa Media Recognition Awards "More Than a Mother" 2024: Media representatives and media students are invited to showcase their work to raise awareness about one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30th September 2024.

2. Merck Foundation Film Awards "More Than a Mother" 2024: All African Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to address one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30th September 2024.

3. Merck Foundation Fashion Awards "More Than a Mother" 2024: All African Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to raise awareness about one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30th September 2024.
 
4. Merck Foundation Song Awards "More Than a Mother" 2024: All African Singers and Musical Artists are invited to create and share a SONG with the aim to address one or more of the following social issues such as: Breaking Infertility Stigma, Supporting Girl Education, Women Empowerment, Ending Child Marriage, Ending FGM, and/ or Stopping GBV at all levels.

Submission deadline: 30th September 2024.
 
5. Merck Foundation Media Recognition Awards 2024 "Diabetes & Hypertension": Media representatives are invited to showcase their work through strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

6. Merck Foundation Film Awards 2024 "Diabetes & Hypertension": All African Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to promote a healthy lifestyle raise awareness about prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

7. Merck Foundation Fashion Awards 2024 "Diabetes & Hypertension": All African Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

8. Merck Foundation Song Awards 2024 "Diabetes & Hypertension": All African Singers and Musical Artists are invited to create and share a SONG with the aim to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.
 
Entries for all the awards are to be submitted via email to:
submit@merck-foundation.com
 
For information on the above awards, please visit the website: www.merck-foundation.com
 
Summarizing Merck Foundation's initiatives and impact:

Merck Foundation is transforming the Patient care landscape and making history together with its partners in Africa, Asia, and beyond, through:
  • 1700+ Scholarships provided by Merck Foundation for doctors from 50 Countries in 42 critical and underserved medical specialties.
​
Merck Foundation is also creating a culture shift and breaking the silence about a wide range of social and health issues in Africa and underserved communities through:
  • 3000+ Media Persons from more than 30 countries trained to better raise awareness about different social and health issues
  • 8 Different Awards launched annually for best media coverage, fashion designers, films, and songs
  • Around 30 songs to address health and social issues, by local singers across Africa
  • 8 Children's Storybooks in three languages - English, French, and Portuguese
  • 7 Awareness Animation films in four languages - English, French, Portuguese and Spanish to raise awareness about prevention and early detection of Diabetes & Hypertension and supporting girl education.
  • Pan African TV Program "Our Africa by Merck Foundation" addressing Social and Health Issues in Africa through "Fashion and ART with Purpose" Community
  • 1000+ Girls from 15 African countries supported through scholarships or school items, annually.
  • 12 Social Media Channels with more than 5 Million Followers.​
​
Click on the link below to Download Merck Foundation App
https://www.merck-foundation.com/MF_StoreRedirection

Join the conversation on our social media platforms below and let your voice be heard!
 
Facebook: Merck Foundation
Twitter: @MerckFoundation
YouTube: MerckFoundation
Instagram: Merck Foundation
Threads: Merck Foundation 
Flickr: Merck Foundation
www.merck-foundation.com
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