Tag: Business

  • Nandani Creation Limited Crosses Rs 100 Crore Sales Milestone in CY2025; Delivers Third Consecutive Quarter of Strong Growth in FY26

    Nandani Creation Limited Crosses Rs 100 Crore Sales Milestone in CY2025; Delivers Third Consecutive Quarter of Strong Growth in FY26

    Mumbai (Maharashtra) [India], February 12: Nandani Creation Limited (NCL), India’s leading women’s wear company operating under its flagship brand “Jaipur Kurti”, announced its results for Q3 and 9M ended on December 31st, 2024, on 09th February, 2026.

    Financial Performance:

    • Strong Revenue Momentum

    Net Sales grew 65% YoY in 9MFY26 and 100% YoY in Q3FY26, marking the third consecutive quarter of robust top-line growth despite a challenging industry environment.

    • Stable EBITDA Margins with Strategic Investments

    EBITDA margin remained steady in the ~7% range during 9MFY26. The moderation versus the prior year is primarily due to a deliberate strategic shift from own manufacturing to flexible, demand-based sourcing and increased investments in brand-building initiatives.

    Key highlights: 

    • 100 Cr Brand Milestone Achieved:

    Flagship brand Jaipur Kurti crossed ₹100 crore in sales for Calendar Year 2025 – a ~46% YoY growth – positioning the company among a select group of Indian women’s ethnic wear brands that have scaled to this level while maintaining profitable operations.

    • Brand Premiumization Driving Higher Realizations

    A proactive shift towards aspirational brand positioning, supported by an expanding offline retail presence and an increased focus on premium offerings such as Jaipur Kurti Luxe and Amaiva – by Jaipur Kurti, has resulted in a healthy improvement in Average Selling Price (ASP), as such

    • ASP in offline (retail) channels increased to ₹2,669 in 9MFY26, from ~ ₹1,707 in 9MFY25.
    • ASP in online marketplace channels improved to ~ ₹1,147 in 9MFY26, compared to ₹1,108 in 9MFY25.

    Hence, improving revenue quality and setting the stage for better margins ahead.

    • Smart Channel Diversification & High-Growth Expansion

    Optimized existing mix during 9M:

    • 3rd-party online marketplaces (Myntra, Nykaa, Flipkart, Ajio, InstaMart etc.): 35%
    • 3rd-party retail presence (Trends, Centro, Shoppers Stop, SIS, LFRS etc.): 29%
    • Own channels (EBOs + Website + Wholesale): 36%

    New channels scaling rapidly:

    • Presence in 100+ Reliance Trends stores, 12+ Centro, 12+ Shoppers Stop, 40+ Avantara & Kalanikethan Stores
    • Quick commerce already contributing ~3% of total sales
    • Additional LFRS and quick-commerce rollouts planned for coming quarters
    • Efficient Omni-Channel Model with Strong Operational Leverage
    • 16+ Exclusive Brand Outlets / Franchisees operational
    • 80+ SIS counters across key markets
    • Omni-channel experience live and expanding
    • Strategic partnerships with all major online platforms + leading national LFRS and quick-commerce players

     

    Commenting on the results, Mr. Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited commented:

    “The Indian fashion retail industry has faced several challenges over the past few quarters, including subdued consumer demand and persistent inflationary pressures, which impacted discretionary spending across the sector.

    Despite these headwinds, Nandani Creation Limited delivered a strong performance during the nine-month period. I am pleased to share that we achieved ₹100+ crore in sales during calendar year 2025, reflecting the strength of our brand, diversified channel presence, and disciplined execution.

    Going forward, based on improving customer traction and expanding distribution reach, we believe we are well-positioned to increase our market share and evolve into a leading brand in women’s Indian wear.”

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  • Indo SMC Limited Announces Strong Q3 FY26 Performance

    Ahmedabad (Gujarat) [India], February 12: Indo SMC Limited (BSE: 544681), an ISO-certified manufacturer specializing in SMC, FRP, and electrical components for power distribution and infrastructure applications, has announced its unaudited financial results for the third quarter ended December 31, 2025 (Q3 FY26).

    The Company delivered a robust operational and financial performance during the quarter, supported by strong order inflows, improved execution, and disciplined cost management.

    Q3 FY26 Highlights

    • Total Income₹10,159.11 lakhs, up 35% QoQ

    • EBITDA: ₹1,645.38 lakhs, up 23% QoQ

    • EBITDA Margin: 16.20%

    • Net Profit (PAT): ₹1,209.73 lakhs, up 34% QoQ

    • Net Profit Margin: 11.90%

    Q3 FY26 Business Highlights

    • Secured ₹54+ crore of fresh orders across 11 kV metering cubicles, FRP cable trays, and SMC meter boxes, strengthening revenue visibility.

    • Secured ₹40+ crore of fresh orders for supply of HT Air Insulated Bus Ducts rated for 650A, designed for underground high-tension power distribution systems.

    • Received MSEDCL vendor approval for 11 kV metering cubicles, enabling participation in large utility tenders.

    • Continued repeat orders from reputed customers, reflecting strong customer relationships.

    • Improved working capital efficiency, with receivable days reduced to ~40 days in Q3 FY26.

    Commenting on the performance, Mr. Neel Nitesh bhai Shah, Managing Director & CFO, Indo SMC Limited, said:

    “Q3 FY26 marked an important milestone for Indo SMC as our first earnings call following listing. The quarter reflected strong operational execution and progress across key business priorities, supported by disciplined execution and a continued focus on quality and customer relationships.

    During the quarter, we secured fresh orders, strengthening our overall order book and providing strong revenue visibility for the coming quarters. Key developments included receiving utility approvals for metering cubicles, continued repeat orders from existing customers, and a significant improvement in working capital efficiency, reflecting better collections and disciplined financial management.”

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  • Marushika Technology Limited A Key Player in Data Centre & Cybersecurity Solution for B2G & PSU, opens its IPO on 12th February, 2026.

    Mumbai (Maharashtra) [India], February 11:  Marushika Technology Limited is an emerging provider of excellence-driven solutions in Information Technology infrastructure, specializing in data centers and cybersecurity solutions, has announced the opening of its Initial Public Offering on February 12, 2026, with a proposed issue size of ₹26.97 Crore, and the shares are proposed to be listed on the NSE Emerge Platform.

    Equity Share Allocation

    • QIB – Not more than 10,87,200 Equity Shares
    • NII – Not less than 3,31,200 Equity Shares
    • RII – Not less than 7,70,400 Equity Shares
    • Market Maker – 1,16,400 Equity Shares

    The net proceeds from the IPO will be utilized towards Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company, Funding Working Capital Requirements and General Corporate Purposes.

    The issue will open for public subscription on Thursday, February 12, 2026 and close on Monday, February 16, 2026.

    Nexgen Financial Solution Private Limited is acting as the Book Running Lead Manager to the issue, and Skyline Financial Services Private Limited is the Registrar to the issue.

    • Fresh Issue Size – 23,05,200 Equity Shares of  10 each
    • Issue Size – ₹ 26.97 Crore
    • Issue Price – ₹ 111 – ₹ 117 Per Share
    • Lot Size – 1,200 Equity Shares

    Ms. Monicca Agarwaal, Managing Director of Marushika Technology Limited said: 

    “The opening of our IPO marks an important milestone in Marushika Technology Limited’s growth journey. Over the last 15+ years, we have built strong capabilities across IT & telecom infrastructure, data centre solutions, cybersecurity, smart technologies, and defence auto-tech, with a primary focus on serving government, PSU, and institutional clients.

    Our business has evolved alongside India’s digital and infrastructure transformation, enabling us to execute complex, mission-critical projects with a strong emphasis on quality, reliability, and timely delivery. We have consistently expanded our solution portfolio, strengthened our OEM partnerships, and deepened relationships with key customers across sectors such as defence, railways, urban infrastructure, and public safety.

    The proceeds from the issue will help us strengthen our balance sheet, support working capital requirements, and position the Company for the next phase of growth. With increasing digital transformation, cybersecurity needs, and government-led infrastructure initiatives, we believe Marushika is well placed to capitalize on emerging opportunities while continuing to deliver reliable and technology-driven solutions to our clients.”

    Mr. Sanjeev Gupta, Co-Founder & Managing Director of Nexgen Financial Solution Private Limited said,


    “As we step into the IPO journey with Marushika Technology Limited, we see a company that is well positioned to benefit from India’s accelerating digital transformation, increasing investments in data centres, rising cybersecurity requirements, and government-led smart infrastructure initiatives.

    Marushika Technology has built a diversified business model with capabilities spanning IT & telecom infrastructure, smart solutions, and defence auto-tech, supported by strong execution capabilities and long-standing relationships with government and PSU clients.

    The Company’s consistent financial performance, healthy return ratios, and robust order pipeline reflect a scalable operating platform. We believe this IPO will support Marushika’s plans to strengthen its balance sheet, meet working capital requirements, and pursue sustainable long-term growth while creating value for all stakeholders.”

    About The Company:

    Incorporated in 2010, Marushika Technology Limited is a New Delhi-based technology solutions company providing end-to-end IT & telecom infrastructure, data centre solutions, cybersecurity services, smart solutions, and defence auto-tech services. The Company operates through B2B and B2G models, with a strong focus on government departments, PSUs, and large institutional clients.

    Marushika’s offerings include:

    • Data centre infrastructure and power management solutions
    • Cybersecurity and data protection services
    • Surveillance, video walls, networking, and IP-based telephony systems
    • Smart city solutions including access control, parking, and waste management
    • Defence auto-tech services such as refurbishment, maintenance, and reverse engineering of military vehicles

    The Company serves reputed clients including BEL, DMRC, Railtel, Indian Railways, Delhi Police, Indian Air Force, and other government agencies, with a presence across 17 states in India.

    In FY25, the company recorded a Revenue of ₹ 8,524.87 Lakhs, EBITDA of ₹ 1,047.26 Lakhs, and PAT of ₹ 628.64 Lakhs.

    In Sep’25, the company recorded a Revenue of ₹ 4,863.94 Lakhs, EBITDA of ₹ 563.53 Lakhs, and PAT of ₹ 313.83 Lakhs.

    Disclaimer: 

    Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

    For Further Information Please Contact:

    Milind Apte – Director

    AKMIL Strategic Advisors Private Limited

    milind@akmiladvisors.com

    Mo. – 98209 41925

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  • They Had Islands. He Had a Street Light.

    They Had Islands. He Had a Street Light.

    The men in the Epstein files had every resource on Earth. They built AI that exploits. A man from the slums had nothing. He built AI that serves. That’s not coincidence. That’s causation.

    New Delhi [India], February 10: Shekhar Natarajan, Founder and CEO of Orchestro.AI, explains how he rose from rags to riches in this inspirational piece.

    THE INVENTORY OF PRIVILEGE

    Let’s take inventory of what the men in the Epstein files had.

    Collectively, the tech figures documented across 3.5 million pages of DOJ files controlled more wealth than most nations. They had private islands, private jets, private chefs, private security, and private access to every institution on Earth. They had Ivy League educations, tenured professorships, endowed chairs, and research labs with budgets larger than some countries’ GDP. They had teams of lawyers, fleets of lobbyists, and direct lines to heads of state. They attended dinners where the guest list read like the Forbes billionaire index. They had Edge Foundation galas at TED. They had Palo Alto supper clubs. They had everything.

    And with all of that, they could not build AI that gives a damn about the people it affects.

    Instead they built AI that surveils without consent, amplifies disinformation for engagement, entrenches racial bias in hiring algorithms, manipulates children’s attention for ad revenue, extracts personal data as a business model, and when caught, issues a press release about “responsible innovation.” They discussed eugenics over email with a sex trafficker. They attended post-conviction dinners and called it networking. They built the most consequential technology in human history with the moral depth of a spreadsheet.

    They had islands. They had billions. They had everything except the one thing that matters.

    They had no virtue. And it shows in every algorithm they ship.

    THE INVENTORY OF NOTHING

    Now take inventory of what Shekhar Natarajan had.

    One room. Eight people. No electricity. No running water. No connections. No safety net. A father earning $1.75 a month on a bicycle. A brother with untreated bipolar disorder. A school system that said no. A street light.

    His mother had nothing except the refusal to accept the word no. She stood outside a headmaster’s office for 365 days. When they finally let her son in, she had nothing left to pay the fees except a silver wedding toe ring. Thirty rupees. She gave it without hesitation.

    “That ring was the first piece of code in my life. It taught me that the most valuable thing you can move is hope.” — Natarajan

    The boy studied under the street light. He arrived in America with fifty dollars. He slept in his car. He worked five jobs. He faced deportation. He mailed a movie résumé to a stranger at Coca-Cola and got hired with two weeks left on his visa. Over twenty-five years, he transformed logistics at six of the world’s largest corporations. He filed 300 patents. He grew Walmart’s grocery business from $30 million to $5 billion. He took his father off life support and slept in his car for two weeks afterward. In 2020, his son Vishnu was born with his father’s face, and he made a promise: I won’t leave behind one angel. I’ll leave a million.

    He walked away from the corner offices. He founded Orchestro.AI. He built Angelic Intelligence—the world’s first virtue-native AI.

    Not ethical AI. Not responsible AI. Not AI with an ethics board and a white paper and a Chief Trust Officer who attended the right dinners. Virtue-native AI. AI where morality is not a constraint applied to an optimization engine. AI where virtue is the engine itself.

    WHY “NOTHING” BUILT BETTER AI

    This is not a feel-good story about overcoming poverty. This is a causal argument about why the most consequential technology in the world must be built by people whose moral formation happened in places like the slums of Hyderabad—not at billionaire dinner tables in Palo Alto.

    The billionaires had everything, so they learned that rules are negotiable. When you have enough money, enough lawyers, enough connections, you learn that consequences are for other people. You learn that a criminal conviction at your dinner table is a social complexity, not a moral disqualification. You learn that ethics is something you fund, not something you practice. That moral formation produced the AI we have today: systems that optimize for the powerful and externalize harm to the powerless.

    Natarajan had nothing, so he learned that virtue is structural. When you have no money, no electricity, no connections, and no margin for error, you learn that character is not optional—it is the only infrastructure you have. You learn that a woman standing outside a door for 365 days is an engineering solution. You learn that a man giving away his wages on a bicycle is a logistics philosophy. You learn that a silver toe ring is a financial instrument. You learn that the system must be moral because you cannot afford the consequences when it isn’t.

    And because Natarajan crossed worlds—Hyderabad to Georgia Tech, Coca-Cola to Disney to Walmart, Hindu moral traditions to Western corporate governance, supply chains spanning six continents—he learned something else: virtue expresses differently in different cultures, but dignity is universal. A Compassion Agent in Hyderabad weights decisions differently than a Compassion Agent in Helsinki. The virtue is the same. The expression is configured. That’s not relativism. That’s intelligence. Real intelligence. The kind you cannot build inside a monoculture that thinks ethics is a PDF.

    “They had every resource on Earth and built AI that exploits. I had a street light and a toe ring and built AI that serves. That’s not irony. That’s causation. Virtue isn’t born in comfort. It’s born in consequence. The slums taught me what Stanford never could: if your system isn’t moral, people die.” — Natarajan

    VIRTUE-NATIVE: WHAT IT ACTUALLY MEANS

    Here is the technical distinction that separates Angelic Intelligence from everything else:

    Bolt-on ethics (Silicon Valley model): Build the optimization engine. Ship it. Hire an ethics team. Audit. Publish a report. Apologize when caught. Repeat. The ethics layer is a constraint on the system. It slows the system down. It fights the system. The system is designed to optimize; the ethics layer is designed to say not so fast. This is why it always loses. The optimization engine has a profit motive. The ethics team has a PowerPoint.

    Virtue-native AI (Angelic Intelligence): Virtue is the computational architecture. Twenty-seven Virtue Agents—Compassion, Transparency, Humility, Temperance, Forgiveness, Justice, Prudence, Courage, and more—are the decision-making layer. They don’t audit decisions after they’re made. They are the decisions. The Compassion Agent doesn’t review a routing choice. The Compassion Agent is the routing choice. The virtue layer doesn’t slow the system down. It is the system.

    And the virtues are configurable. Because Natarajan understands—from lived experience across continents, not from a seminar—that compassion in a Mumbai supply chain and compassion in a Stockholm fulfillment center express differently. The Virtue Agents are calibrated to local moral realities while preserving universal dignity. This is not cultural relativism. This is moral engineering at scale. It requires understanding cultures. Not just studying them. Living them.

    “Silicon Valley’s ethical AI is a checklist written by people who’ve only lived in one moral universe. Angelic Intelligence is a configurable architecture built by someone who grew up in a slum, crossed oceans, built systems on six continents, and understands that virtue is universal but its expression is radically local. That’s not a feature. That’s the foundation. If your AI can’t configure for cultural context, it’s not ethical. It’s colonial.” — Natarajan

    THE SOUND BITES

    Clip these. Post them. Send them to every AI ethics panel on Earth:

    “They had islands. I had a street light. They built AI in their image—optimized, extractive, and morally empty. I built AI in my mother’s image—patient, sacrificial, and virtue-native. The Epstein files are the character reference for their AI. My mother’s 365 days is the character reference for mine.”

    “Ethical AI is a bumper sticker on a car driven by people who can’t pass a background check. Virtue-native AI is a car where the steering wheel only turns toward dignity. 3.5 million pages just proved which one Silicon Valley built. One street light proves there’s an alternative.”

    “They discussed eugenics over email with a sex trafficker and then published papers on AI fairness. My father couldn’t read most of the telegrams he carried, but he treated every one like it mattered. One of those formations produced the AI you use today. The other produced the AI that’s going to replace it.”

    “Optimization without virtue is exploitation with a dashboard. The Epstein network optimized brilliantly. So does most AI. We built the exception—not from a lab, but from a street light, a toe ring, and the radical idea that machines should behave like good humans, not like billionaires.” — Natarajan

    “The world doesn’t need artificial superintelligence. It needs intelligence with a moral backbone. The Epstein files just proved that the people building superintelligence don’t have one. We do. It was forged in a slum, not a boardroom. And it’s in the code.” — Natarajan

    THE VERDICT

    There are two ways to build the most consequential technology in human history.

    You can build it from islands and dinners and email chains with predators and billions of dollars and eugenics discussions and trust-and-safety theater and 3.5 million pages of DOJ evidence documenting the moral void at the center of the enterprise.

    Or you can build it from a street light. From a silver toe ring. From a mother’s 365-day vigil. From a father’s bicycle. From the lived understanding that virtue is not a PDF—it is an architecture. That dignity is not a corporate value—it is a computational metric. That compassion is not a marketing campaign—it is a routing decision. That ethics is not a department—it is the system itself.

    The Epstein files have been released. The moral architecture of Silicon Valley is documented. The fraud of ethical AI is exposed.

    They had islands.

    He had a street light.

    The street light built better AI. And the 3.5 million pages prove why.

    About Shekhar Natarajan

    Shekhar Natarajan is the Founder and CEO of Orchestro.AI, creator of Angelic Intelligence™. Davos 2026 opening keynote. Tomorrow, Today podcast (#4 Spotify). Signature Awards Global Impact laureate. 300+ patents. Georgia Tech, MIT, Harvard Business School, IESE. Grew up in a one-room house in the slums of Hyderabad. No electricity. Father earned $1.75/month on a bicycle. Mother stood outside a headmaster’s office for 365 days. One son, Vishnu. Paints every morning at 4 AM. Does not appear in the Epstein files.

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  • Crown Defence Sets up Indigenous PCB Assembly Facility in Goa

    Crown Defence Sets up Indigenous PCB Assembly Facility in Goa

    The facility will support defence & civil electronics across aviation, marine & land systems, enabling high-reliability PCB assembly.

    New Delhi [India], February 11: Crown Defence, an established Indian defence MRO group with over four decades of operational experience across marine, aviation and land systems, has established an indigenous Printed Circuit Board (PCB) assembly facility at Verna, Goa, strengthening domestic capability in high-reliability electronics for defence and select civil applications.

    Established under Aviatech Enterprises Pvt. Ltd. (AEPL), Crown Defence’s aviation vertical, the facility is designed to support mission-critical electronics for defence platforms as well as select civil sectors including aviation, maritime and industrial systems. The setup delivers high-precision, high-reliability PCBA solutions, supporting PCB assemblies ranging from 80 × 80 mm to 460 × 460 mm, with board thickness capability from 0.4 mm to 8 mm and controlled edge clearance standards of 3–5 mm. Aligned to meet reliability, consistency and traceability requirements essential for strategic and regulated programmes, the facility will commence operations from March 2026 and is open for engagement with both domestic and international programmes.

    Conceived as more than a manufacturing unit, the AEPL facility functions as a strategic electronics capability hub, addressing the growing demand for domestic PCBA solutions. The Indian PCBA market is currently valued at approximately USD 6.3 billion and is expanding at nearly 16 percent CAGR, driven by defence, industrial and electronics manufacturing demand. With over 1,000 items now covered under government import restrictions, many of them PCB assemblies earlier sourced overseas, timely access to reliable domestic assembly capacity has become critical.

    Vice Admiral (Retd) Paras Nath, Group President, Crown Defence, said the facility reflects the group’s long-term capability-building approach.
    “Electronics availability increasingly determines platform readiness and upgrade cycles. Establishing in-country PCB assembly capability improves supply predictability and supports India’s broader objectives of reducing external dependencies across defence and critical civil sectors,” he said.

    Commodore (Retd) S.K. Iyer, Head – Aviation, Aviatech Enterprises Pvt. Ltd., said the facility strengthens AEPL’s ability to support electronics-led programmes.
    “The Verna unit enables tighter integration between electronics assembly and downstream aviation support activities, enhancing quality control and execution timelines for modernisation, upgrades and sustainment programmes,” he said.

    Crown Defence operates through specialised group companies delivering maintenance, repair, overhaul, upgrades and modernisation across defence and civil domains. The addition of PCB assembly capability at AEPL complements the group’s system-level sustainment strengths and reinforces its role in supporting India’s long-term defence and industrial preparedness.

    About Crown Defence

    Established in 1978, Crown Defence is a professionally managed Indian defence engineering group operating across aviation, marine and land systems. The company functions as a technology provider, manufacturer and lifecycle support partner to India’s defence ecosystem, working closely with global OEMs and national agencies to deliver indigenous MRO, manufacturing and modernisation capabilities. Crown Defence plays an active role in advancing India’s Make in India and Atmanirbhar Bharat objectives through long-term investments in defence engineering, electronics, platform sustainment and strategic infrastructure.

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  • Jacqueline Fernandez Joins Lux Cozi’s Grand Indore Meet, Over 2000 Retailers Attend

    Jacqueline Fernandez Joins Lux Cozi’s Grand Indore Meet, Over 2000 Retailers Attend

    Indore (Madhya Pradesh) [India], February 10: Lux Cozi, one of India’s leading innerwear and premium wear brands, successfully hosted its Grand Retailers’ meet in Indore, bringing together over 2000 retailers from across Madhya Pradesh. The event reaffirmed the brand’s focus on deepening retailer relationships and accelerating growth in key central Indian markets.

    The conference was attended by Ashok Kumar Todi, Chairman, Lux Industries Limited, and Saket Kumar Todi, Director, Lux Industries Limited, underlining the company’s continued emphasis on strong trade partnerships and long-term channel engagement. The meet served as a strategic platform for discussions on market opportunities, evolving consumer preferences, and the brand’s growth roadmap.

    Bollywood actress and brand ambassador of Lux Cozi, Jacqueline Fernandez, joined the conference and interacted with retailers and business partners, strengthening consumer connect and enhancing brand visibility. Her participation reflected Lux Cozi’s focus on cultural relevance and engagement at the retail level.

    Addressing the gathering, Saket Kumar Todi, Director, Lux Industries Limited, said “Retailers are at the core of Lux Cozi’s growth story. Markets like Madhya Pradesh have shown consistent momentum, driven by strong consumer demand and deep rooted trust at the retail level. Our focus is on empowering our partners with relevant products, efficient supply chains, and sustained brand investments, so that growth is shared, scalable, and long-term.”

    The Indore conference underscored Lux Cozi’s broader strategy of working closely with its retail ecosystem to drive sustainable growth. With a strong presence across India and exports to over 50 countries, Lux Cozi continues to strengthen its leadership across innerwear and lifestyle categories through its diversified portfolio including ONN, Lux Cozi, Lux Mozzee, Lux Parker and Pynk.

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  • SEPC Limited to Execute INR 314 Crore Smart Prepaid Metering Project in Punjab under RDSS

    SEPC Limited to Execute INR 314 Crore Smart Prepaid Metering Project in Punjab under RDSS

    Mumbai (Maharashtra) [India], February 10: SEPC Limited (NSE: SEPC | BSE: 532945), one of India’s leading Engineering, Procurement and Construction (EPC) companies with a diversified presence across Water & Municipal Services, Roads, Industrial Infrastructure, and Mining, has received a Letter of Intent (LOI) from Telecommunications Consultants India Limited (TCIL), a Government of India enterprise, for the implementation of a Smart Prepaid Metering project in Punjab (Central Zone) under the Revamped Distribution Sector Scheme (RDSS).

    Project Scope and Structure

    The project will be executed on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis in consortium with Adya Smart Metering Private Limited, with a total project value of 313.96 crore. It encompasses the design, deployment, integration, commissioning, and long-term operation and maintenance of advanced metering infrastructure for Punjab State Power Corporation Limited (PSPCL), in accordance with the client’s tender and applicable scheme guidelines. Payments will be made on a back-to-back basis, linked to defined monthly, quarterly, and annual milestones during the post-operational Go-Live phase.

    Strategic Outlook

    The LOI strengthens SEPC’s order momentum and expands its presence in power distribution and metering infrastructure. The BOOT model improves long-term revenue visibility, while sustained public sector investment in power reforms and digital infrastructure supports growth. With a diversified portfolio and rising exposure to annuity-based projects, SEPC remains well positioned to benefit from favourable industry tailwinds.

    Commenting on the order win Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, said:

    “This order reflects the continued confidence of our clients in SEPC’s execution capabilities across complex infrastructure projects. Smart metering is a key pillar of power distribution reforms in India, and this project allows us to further expand our presence in this segment. The DBFOOT structure also aligns well with our strategy of building long-term, annuity-linked revenue streams, while maintaining a disciplined approach to risk and capital deployment.”

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  • LaundryMate Launches ‘LaundryMate Sprint’, India’s First 4-Hour Laundry and Dry Cleaning Delivery Service

    LaundryMate Launches ‘LaundryMate Sprint’, India’s First 4-Hour Laundry and Dry Cleaning Delivery Service

    Gurugram (Haryana) [India], February 11: LaundryMate, a Bengaluru-headquartered, app-led doorstep laundry and dry-cleaning brand, has entered the Gurugram market with the launch of LaundryMate Sprint, the city’s first-ever 4-hour dry-clean and laundry delivery service, tailored for the fast-paced lifestyle of urban consumers in the millennium city.

    LaundryMate Sprint offers doorstep pick-up within 45 minutes and a 4-hour turnaround timeline from pickup to delivery for all services, including dry cleaning, wash & iron, and steam ironing. In addition to its express delivery model, the store also entertains walk-in customers who prefer to drop and pick up their items directly. Backed by LaundryMate’s existing 24-hour full-service delivery model in Gurugram, an approach already proven successful in Bengaluru and trusted by over 50,000 families, the service brings together global-grade processes, technology-led operations, and premium garment care, delivering a world-class laundry experience tailored to the fast-paced lifestyle of Gurugram residents.

    Commenting on the expansion, Abhinay Choudhari, Co-Founder & CEO of LaundryMate.in (formerly Co-founder of BigBasket.com), said, “After the successful launch and scaling of our services in Bengaluru, expanding to Gurugram was a logical next step. The city’s fast-paced lifestyle and high concentration of working professionals require reliable and timely solutions. While LaundryMate Sprint, with its 4-hour TAT, addresses urgent laundry needs, our 24-hour service continues to meet common daily-use case requirements. Together, these offerings demonstrate our commitment to combining convenience, speed, and consistent garment care.”

    In Bangalore, LaundryMate has set up a state-of-the-art facility spanning 50,000 sq ft with imported equipment worth upwards of INR 35 Crore, and a capacity to process 24,000 items per day in a 3-shift operation. Underscoring company’s long-term commitment to the market, the full-service delivery launch in Gurugram is backed by a strategic partnership with Central Linen Park (CLPPL), with its facility in Bhiwadi, Rajasthan, which has a significant infrastructure investment of upwards of  INR 75 crore and has the largest such facility in India for B2B. CLPPL which has been servicing various leading hotel chains in Delhi NCR since more than a decade is backed by Arun Saraf, Chairman, Juniper Hotels (Owner of Grand Hyatt Properties in India & Nepal).

    Speaking on the partnership and local relevance, Mr Surendra Ruia, Chairman, Central Linen Park and LaundryMate’s Gurugram Partner, added: “North India has specific garment care needs, especially during winter when woollens and premium fabrics require specialised handling. LaundryMate’s technology-led processes and attention to garment integrity make it a strong fit for Gurugram’s discerning consumers. This partnership is about bringing a reliable, world-class laundry solution to a market that values quality over compromise.” 

    Founded in Bengaluru in 2022 by five co-founders- Abhinay Choudhari, Pushpendra Yadav, Raghavendra Joshi, Tripat Singh, and Uday Vijayan– LaundryMate has established itself as a trusted name in organised laundry services. It is known for its seamless app experience, precision-led logistics, consistent garment care, and reliable delivery promise.

    Over the past three years, the brand has achieved over 5.5 lakh app downloads, processed over 45 lakh garments, and delivered more than 3.5 lakh orders across Bengaluru. It has approximately 10,000 monthly transacting customers who choose its convenient and time-bound services. LaundryMate raised $ 6 million USD as pre-Series A from various investors in June 2023 and is currently in discussions with investors for a Series A round to expand to five cities.

    With its Gurugram expansion, LaundryMate aims to address a clear gap in the market by offering a convenient, affordable, technology-enabled, time-bound laundry service, built for urban consumers who expect reliability, transparency, quick TAT and superior garment care.

    About LaundryMate:
    New Age Consumer Services Pvt Ltd, the owner of brand LaundryMate was Founded in 2022 by 5 co-founders, Abhinay Choudhari, Pushpendra Yadav, Raghavendra Joshi, Tripat Singh & Uday Vijayan and is headquartered in Bengaluru, LaundryMate is India’s most convenient app-led laundry and a sustainability focused brand designed for modern urban consumers. The brand uses 100% EVs in its last mile delivery operations and recycles 40% of the water at its Bangalore facility and uses zero plastic packaging and eco-friendly chemicals.

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  • 5868 PMAY units lined up for delivery at Suraksha Smart City, Vasai

    5868 PMAY units lined up for delivery at Suraksha Smart City, Vasai

    Vasai (Maharashtra) [India], February 11: Under the Pradhan Mantri Awas Yojana (PMAY) during the calendar year 2026, Suraksha Smart City, Vasai is ready to begin the phased delivery of 5,868 Economically Weaker Section (EWS) homes. One of the largest integrated township developments in the Mumbai Metropolitan Region (MMR) deliveries will be undertaken building-wise across Phase 1 of the project.

    A milestone that reinforces Suraksha Group’s commitment to the Government of India’s ‘Housing for All’ mission also tells the story of Vasai’s emergence as a key residential hub under the Mumbai 4.0 growth framework. The large-scale handover of homes under the PMAY is expected to ensure a positive and meaningful contribution to the affordable housing ecosystem in the MMR.

    Suraksha Smart City has been built with the use of advanced precast construction technologies, supported by one of the most extensive mechanisation initiatives in the country. The integration of a first-of-its-kind 3D casting module has enabled consistent quality control and accelerated execution, ensuring timely delivery of homes built to robust standards.

    Commenting on the development, Jash Panchamia, Promoter, Suraksha Smart City said, “Delivering homes at this scale under PMAY represents more than a construction achievement. It reflects our belief that affordability should never come at the cost of quality or planning. We have been innovative and ensured disciplined execution and aim to create long-term value for residents as we contribute meaningfully to the region’s overall urban growth.”

    The 1 BHK PMAY homes are priced at Rs 22.5 lakh and structured to enable beneficiaries to combine personal contribution with a direct government subsidy of Rs 2.5 lakh, making home ownership attainable for first-time buyers. Select buildings have already applied for Occupation Certificates, and homebuyers have begun site inspections, marking a significant emotional milestone for many families.

    The fit-out is being executed in a phased and safety-focused manner, with deliveries planned building-wise. Located within walking distance of Vasai Railway Station, Suraksha Smart City combines affordability with access to essential infrastructure and township amenities, offering residents a balanced urban lifestyle.

    The commencement of PMAY home deliveries at Suraksha Smart City, Vasai will continue to strengthen Suraksha’s position as a focal point for inclusive housing development, adding renewed momentum to the real estate landscape of the Mumbai Metropolitan Region.

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  • Rajalakshmi Institute of Technology Signs MoU with HSE University, Russia

    Rajalakshmi Institute of Technology Signs MoU with HSE University, Russia

    Chennai (Tamil Nadu) [India], February 10: Rajalakshmi Institute of Technology (RIT) has signed a Memorandum of Understanding (MoU) with HSE University, Russia, a globally recognized institution, to strengthen international academic collaboration and engagement.
    Rajalakshmi Institute of Technology, Chennai, signed an MoU with Russia’s HSE University to enhance global academic collaboration, partnerships, and engagement opportunities.
    The MoU was signed during the visit of the HSE University delegation in the presence of Dr. Haree Shankar Meganathan, Vice Chairman, Rajalakshmi Group; Dr. Anna Tyshetskaya, Vice Chancellor, HSE University; and Dr. Manoj Sharma, Vice President, HSE University.
    Speaking on the occasion, Dr. Haree Shankar Meganathan emphasized the importance of global academic partnerships in building future-ready institutions and enhancing international exposure for students and faculty.
    Dr. Anna Tyshetskaya, Vice Chancellor, HSE University, expressed her appreciation for the warm reception and stated that the partnership reflects a shared commitment to academic excellence and international cooperation.
    The signing of the MoU marks the beginning of a collaborative relationship between Rajalakshmi Institute of Technology and HSE University, supporting RIT’s vision of expanding its global academic footprint.

    For more information, please visit:https://ritchennai.org/

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