Thursday, October 23, 2014

Sundaram Home Finance H1 net up 12%

Sundaram BNP Paribas Home Finance has reported a 12 per cent increase in its net profit for the first half year ended September 30, 2014, at Rs. 78.25 crores compared to Rs. 70.17 crores achieved in the corresponding period last year. Loans under Management crossed the Rs. 7,000-crore mark during the first half of the year and stood at Rs. 7,414 crores at the end of September 2014. Disbursements for H1 ended September 30, 2014, was at Rs. 1,022 crores (Rs. 1,338 crores).

Net profit for Q2 ended September 30, 2014, increased 11 per cent to Rs. 36.11 crores against Rs. 32.62 crores achieved in the corresponding quarter last year. 

Commenting on the scenario, Mr. Srinivas Acharya, Managing Director, Sundaram Home Finance, said: “The real estate market was quite sluggish during the first half with excess supply and unsold stocks on the back of buyers adopting a wait and watch approach in the hope of a reduction in property prices.”

Sundaram Home Finance had launched a special scheme for rural housing finance during the last quarter. Mr. Srinivas Acharya said: “Once the overall sector recovers, demand is expected to pick up on the rural housing finance front as well.”

On the outlook for the second half of the year, he said that, with the Government giving importance to this sector, there is some hope for a revival, and H2 will be better. But for the moment it is only a muted growth with a recovery of some sort in Q4 of this year.

Sundaram Home Finance has 105 branches spread across the country. Sundaram BNP Paribas Home Finance is a 50.1:49.9  per cent joint venture between Sundaram Finance and BNP Paribas.

Sterling Generators endorses CPCB II-compliant gensets

Sterling Generators Pvt. Ltd., one of the largest manufacturers of DG Sets in Asia, has always been CPCB II ready with its 10 KVA – 3000 KVA range of gensets, that comply with the new environmental norms for DG sets. The company is known to have provided its customers with CPCB II compliant gensets even before the new legislation on stringent emission norms came into effect on July 1. In view of the powers conferred by sections 6 and 25 of the Environment Protection Act 29 of 1986, the Central Government has recently amended the Environment Protection Act.

Sterling Generators strongly believes that the latest CPCB II Emission Rule is a breakthrough legislation which will certainly help Indian engines to compete with those worldwide. It is managed by a group of best minds in the industry who bring in a solutions-oriented approach and the latest in technology to their customers and are backed by a state-of-the-art manufacturing facility at Silvassa.

Commenting on the new Environment Protection Rules, Mr. Sanjay Jadhav, President, Sterling and Wilson Powergen Pvt. Ltd., says: “Sterling Generators are in an advantageous position as our product offerings were always most fuel and emission optimized, meeting International emission standards and will need only minor product alterations to meet the new norms in India. The implementation of these norms will certainly help control release of polluting gases into the atmosphere and result in overall healthy living.”

Sterling Generators, enjoys the trust and excellent relationships with their customers, operating in India through four Regional Hubs and 17 branch offices and have opened offices in Dubai, Nigeria and Australia as they foray into the exports market, which will be the focus area for the company in near future. It has a pan-India network of trained service engineers across the country who are responsible for providing uninterrupted power to their customers and are available 24*7.

Within a short span of 9 years, the company has had many accomplishments. Sterling Generators is now a dominant player in the high HP DG business in India and enjoys the support of leading business houses in the country. Installations at Delhi International Airport (DIAL), L&T, TCS, CAIRN Energy, VSNL, Infosys, Siemens, Tata Group, SAIL, TOI, and many more, are a standing testimony of their project execution & service capability.

CII compliments BJP on absolute majority in Haryana

Commenting on the Bhartiya Janta Party’s (BJP) thumping victory in Haryana elections, Mr. Zubin Irani, Chairman, Confederation of Indian Industry (CII) Northern Region & President - Building & Industrial Systems (India), United Technologies Corporation India Pvt. Ltd., congratulated the incoming BJP Government in Haryana with clear mandate.

“CII is committed to work with the newly-elected BJP Government to make Haryana a truly manufacturing hub and the most preferred destination for investors with strong focus on infrastructure, education, enhancing skills & employability, access to quality healthcare for all and women’s empowerment”. 

“We have been working very closely with the State Government in the past and will continue to render our full support in all progress linked endeavours, which are key to attain sustainable development. In its continuing efforts to promote inclusion, CII’s emphasis would be on creating enabling policy environment for investments, ease of doing business, enhancing skills, education & employability”, Mr. Irani further highlighted.

“Haryana elections were highly inclusive witnessing over 70% turnout with massive women and youth voter participation. Therefore, the results are true representation of masses. This shows decisive public sentiment for effective governance and growth aspirations of Haryana. CII will continue to work with the State Government to facilitate Haryana’s emerging as most competitive manufacturing hub with quality infrastructure and skilled manpower,” said Mr. Rattan Kapur, Chairman, CII Haryana State Council & Managing Director, Mark Exhaust Systems Ltd.

Dual tone Pajero Sport hits the bull’s eye

The recent launch of dual tone Pajero Sport by Hindustan Motors Finance Corporation Ltd. (HMFCL) has hit the bull’s eye. The flame red-white and lemon yellow-white SUV rolling out of the company’s Thiruvallur plant is finding enthusiastic takers countrywide.

Pajero’s long time fans and potential buyers charged by the festive season’s spirit are getting reminded of the legendary SUV’s DNA and heritage by the dual tone Pajero Sport. The sporty and macho look of the dual tone vehicles are drawing new customers. Feedback from dealers and buyers has fueled the spirits of the company’s management and workers.

HMFCL Managing Director, Mr. Uttam Bose, said: “We have always been customer oriented. We evaluate and anticipate the buyer’s likes and dislikes and make suitable changes. More footfalls and higher rate of conversion prove that imparting dual tone to Pajero Sport has clicked with the customers. Buyers can expect more from us in the coming days.”

The dual tone Pajero Sport comes with additional features like DVD display and cooler box.  

India needs zero tolerance for waste; cold storage grid and food map, the need of the hour

Mrs. Harsimrat Kaul Badal, Minister for Food Processing Industries, has stressed on the need to have a food map in the country. “An investor must have a food map so that he knows where, what and how to procure and the demand for his purchase. Most of the cold chain capacity today is concentrated in three to four States. And out of the entire cold storage capacity, 70% is just for potato. What we need is a scientific approach towards building multi-product cold storage”. 

Inaugurating the 5th National Cold Chain Summit 2014, organized by CII jointly with Ministry of Food Processing Industries and Ministry of Agriculture (MoA) and National Centre for Cold Chain Development (NCCD), Mrs. Badal stated: “Cold chain plays an integral part in the development of our nation. In spite of all the challenges that we have faced, we are the second largest producer of fruit and cereal, third in marine production and have the largest livestock in the world. But in spite of growth in these sectors, the disparity in the growth in the food processing sector is amazing.”

Talking about the challenges the industry faces, the Minister said: “The biggest challenge the industry faces is power, without which the cold chain cannot be successful. States need to invest in renewable energy and provide solar energy at subsidized rates.”

Pointing to the fact that in the next 15 years consumption levels are going to treble, she said: “There should be zero tolerance towards waste. Currently, there is Rs 44,000 crore of wastage and unless we work towards removing that, our growth story cannot be completed. The cold chain capacity of the country is 30 million metric tonne, whereas it produces around 200 million metric tonne of products.”

Citing examples of smaller nations like Malaysia, Phillipine and Thailand, the Minister said: “In these smaller nations, food processing is 80-90% compared to India where it’s a mere 10%. Our challenge lies in managing the perishables. Figures show that thousands of crores is lost due to wastage. That’s the tip of the iceberg; in reality, the figures are much higher. What we need is a cold chain grid in the country. The ministry is working towards a national food processing policy to bring under one umbrella different stakeholders presently engaged in the development of the food processing sector. Unless we bring down waste, we cannot control inflation.”

The cold chain industry in India is growing and will treble the size by 2015. This change is the consequence of rapid changes in consumption patterns of the new and aware consumer and this rise is fuelled by the modern trade, along with the growing food, dairy and pharmaceutical industries in India.

But, India’s greatest need is for an effective and economically viable cold chain solution that will totally integrate the supply chain for all commodities from the production centers to the consumption centers, thereby reducing physical waste and loss of value of perishable commodities.

The Minister also released a report, ‘Study of Post Harvest Value Chain Management and Plan for Future Development: A CII study of Pomegranate in Karnataka’ at the event. The study is intended to find out the gap available in agricultural marketing and distribution for the produce to take suitable action by the State Government, in make cold chain development movement a reality in the State.

Speaking on the occasion, Mr. Siraj Hussain, Secretary, Ministry of Food Processing Industries, said: “In addition to losses in the food chain, there is a need to reduce losses at consumer level. There is a substantial information gap when it comes to cold storage. We need more studies to assess the exact amount of requirement in the sector.” Laying thrust on online sale of fruits and vegetables, he said: “Online retail stores can be a huge fillip for the cold storage industry. It can not only improve the supply chain but also delivery.”

Mr. Pawanexh Kohli, Chief Executive Officer and Chief Advisor, National Centre for Cold Chain Development (NCCD), mooted on consistent supply of goods across the country, stressing on the fact that productivity should be gainful productivity.

Speaking on the occasion, Mr. Sanjeev Chopra, Joint Secretary, Ministry of Agriculture, Government of India, stated on the need to innovate and create awareness and integrate different skill sets and competency. “Innovation and integration is required to have a business model. The country needs to be connected with the flow of good; it’s only with regular sustained supply of goods that the government can reduce price fluctuations.”

Addressing the gathering, Mr. B. Thiagarajan, Immediate Past Chairman, CII Task Force on Cold Chain Development and Executive Director & President, Blue Star Ltd., said: “The food processing ministry and agriculture ministry with whom CII has shared a relation over the years have seen a lot of successes and setbacks and each time we have come out with innovations and reinvent ourselves to take this journey forward. Currently we are focused on how to link the Clean India Campaign to the development of cold chain. One example can be of recycling the bio waste in cities for the greater good of this movement.” 

The discussions and deliberations at the Summit aimed at enabling innovations, integration and investments across the food value chain and outreach to create sustainability of the sector. The summit saw participation of over 150 delegates from Government organizations like the National Horticulture Board, National Bank for Agriculture and Rural Development, Ministry of New And Renewable Energy, Indian Council for Agriculture Research, National Centre for Cold Chain Development, National Productivity Council, National Institute of Food Technology Entrepreneurship and Management, Warehousing Development Regulatory Authority, and from the organizations in the private sector like the Blue Star Ltd., Bayer Material Private Ltd., Danfoss Industries, Frick India, Tamil Nadu Banana Growers Federation, Lloyd’s Insulation India Ltd., Yes Bank, Pluss Polymers Pvt. Ltd., Marfin Projects Ltd., Promethean Power Systems Inc., among others.

Total launches global corporate advertising campaign

Total launched its new international multimedia advertising campaign simultaneously in 21 countries on October 2 to develop the Group’s brand awareness. The campaign highlights Total’s operations in oil production, refining and marketing, as well as its role as a major player in natural gas (50% of its output) and as the global number two in solar power, through its subsidiary SunPower.

The campaign provides a tangible illustration of the meaning behind the Group’s new baseline, “Committed to Better Energy”, which puts the emphasis on producing “better”, not “more”. In this way, the Group is sharing its conviction that the path to a re-sponsible energy future lies first and foremost in energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible.

To help shoulder this commitment, a large number of Group employees were involved in producing the campaign, and most of the scenes in the commercial were filmed at Total sites.

“Total is a leading global energy company. It needs a powerful brand over the long term to support the growth of its businesses. This large-scale campaign is the first of its kind in Total’s history. It reflects both our size and our ambitions,” explains Jacques-Emmanuel Saulnier, Total’s Senior Vice President, Corporate Communications.

“Our vision and our continuous improvement approach – “always better” – are seen in our work in the front lines, alongside and for our stakeholders,” says Mr. B. Vijay Kumar, Total Group Representative - India and Chairman & Managing Director, Total Oil India. “This isn’t just a promise for the future; it’s the everyday reality for Total’s 100,000 employees”.

Total is one of the largest integrated oil and gas companies in the world, with activities in more than 130 countries. Its 100,000 employees put their expertise to work in every part of the industry – exploration and production of oil and natural gas, refining, chemicals, marketing and new energies. Total is working to help satisfy the global demand for energy, both today and tomorrow.

San Francisco International Airport recognized with Environmental Achievement Award

The San Francisco International Airport (SFO) has been recognized with a 2014 Environmental Achievement Award by the Airports Council International-North America (ACI-NA). In the Mitigation Award category, San Francisco International Airport was honored for its Recovery Action Plan, which ensures the protection of two endangered species on a 180-acre undeveloped area of the Airport.

“As an environmental leader in the aviation industry, we are continually focused on the sensitive use of our land to ensure that protected species can thrive,” said Airport Director John L. Martin. “We are proud to be recognized by the Airports Council International-North America for our mitigation efforts.”

San Francisco International Airport’s West of Bayshore property, a 180-acre area of undeveloped land, supports the populations of two federally-protected species: the San Francisco garter snake and the California red-legged frog. The Airport’s Recovery Action Plan, now in its sixth year, is intended to ensure larger populations of the two endangered species through a variety of habitat enhancement actions, while also allowing San Francisco International Airport to improve its flood control, storage, and conveyance infrastructure on the West of Bayshore property.