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In Expansion Mode
Sberbank, Russia's largest lender, on Thursday said it plans to gradually expand its business in India and would invest about USD 100 million over the next three years to take advantage of the growing Indian market. "We have a full banking licence here...we will expand our business in a step-by-step manner over the next three years. We will ramp up B2B business and enter into the B2C segment," Herman Gref, CEO and Chairman of the Executive Board, Sberbank, told reporters here. The bank, which established its operations in 2010, has sought 10 branch licences from the RBI to be opened across 10 cities. "We have requested the central bank here to grant 10 branch licences for opening offices," he said. Currently, it has two branches and an IT unit in Bengaluru to serve as an in-house data processing centre. The bank will bring an IT system from Moscow (Russia) and make adjustments to the specific regulations of the country, he said. Besides, he said, it will also seek the right partn
FMCG firm Godrej Consumer Products Ltd (GCPL) is aiming to scale its liquid detergent business Godrej Fab over two-fold and hit an annual revenue of Rs 500 crore in FY26, said its Managing Director and CEO Sudhir Sitapati. Besides, it is also working to deepen its rural presence, premiumise portfolio in household insecticides and other segments, and to build out its new pet care business, said the latest annual report of the company. The Godrej Industries Group's FMCG arm, which entered into the fast-growing liquid detergent segment almost a year ago, has "seen strong early success, and now the goal is to unlock the next level of growth", said Sitapati in the report. "Another key bet is scaling Godrej Fab our liquid detergent to Rs 500 crore. This will require sharper distribution, increased trials and more targeted communication," he said. In just over a year, Godrej Fab has hit Rs 250 crore in annualised revenue run-rate (ARR), which is a "big win" for GCPL, which entered into
Roseate Hotels and Resorts -- which owns luxury properties in India and the UK -- is eyeing new markets including Dubai, Italy, France and Switzerland and looking at diversifying its portfolio with a mix of owned as well as managed properties, the company's CEO Kush Kapoor said. In an interview to PTI, Kapoor emphasised upon the need to market India better, streamline visa processes and improve the working conditions for hospitality sector employees in terms of rationalising their working hours and better wages, as key to attracting more foreign tourists to India and having a better talent pool for the hotel industry. The Roseate Hotels and Resorts CEO also sought rationalisation of GST rates for the hospitality sector and lowering the number of licences required for hotels to reduce the compliance burden. "Yes the focus is very heavily on India. We definitely want to be in the upscale market and would like to grow in tier 2 and tier 3 cities also. For us the most important thing is
IPO-bound travel-tech unicorn OYO on Thursday announced its partnership with travel agent platform Yatra to strengthen its presence in the business travel segment particularly in key centres such as Delhi-NCR, Mumbai, Bengaluru. As part of this alliance, more than 500 company serviced hotels of OYO have already been on-boarded for the first time on Yatra's platform. It includes hotels under mid-premium and premium brands such as SUNDAY, Palette, Clubhouse, Townhouse, Townhouse Oak and Collection O for business travellers across India. OYO is planning to add 1,000 more company serviced hotels for booking on Yatra's platform by September this year, the company said in a statement. This will strengthen Yatra's inventory, especially in emerging metros where the demand for quality accommodation is surging due to increased business travel, it added. According to estimates, India's business travel spending reached USD 38.2 billion in 2024, reflecting robust growth and positioning the cou
SOTC Travel is targeting double-digit growth for the current financial year ending March, with a strong focus on expansion across regional India, the company's Managing Director & CEO Vishal Suri said. In an interview to PTI, he shared the company's vision for expansion and travel trends, including a strong rise in pilgrimage tourism with the onset of the Shravan season, particularly for the 12 Jyotirlingas. "We are targeting healthy double-digit growth for FY25-26. Regional India is a key focus area for us. We are not only widening our reach across the country but also deepening our presence in existing markets, based on the need and potential we see," Suri told PTI. He observed that the company's expansion strategy is both broad and focused, enabling it to tap into emerging travel demand across demographics and geographies. "We are committed to strengthening our omnichannel strategy with focused expansion across both digital and physical touchpoints. We're actively investing in .
Contract research, development and manufacturing organisation Aragen on Monday said it has secured USD 100 million investment from private equity fund Quadria Capital. The investment will result in Quadria acquiring a minority stake in Aragen, at a valuation of around USD 1.4 billion, primarily through a fresh capital infusion, with a small portion from the sale of shares by existing investors, the company said in a statement. The funding will support the company's strategic expansion of its capabilities and infrastructure, enabling it to meet the growing demand for outsourcing services from innovators in the US and Europe, it added. With investment, Quadria joins Goldman Sachs as the second strategic investor in Aragen. "This investment marks a pivotal moment as we scale to meet the needs of a rapidly evolving market, said Manni Kantipudi, CEO, Aragen Life Science. "Our expanded capabilities will allow us to support the rising demand for integrated discovery and manufacturing ...
/ -- CitiusTech Healthcare Technology Pvt. Ltd., a leading provider of healthcare technology services, solutions, and platforms, announced the expansion of its presence to Warsaw, Poland. This strategic move will help CitiusTech expand its global delivery model through its foray into the European market, and further solidify its position in healthcare technology. CitiusTech is committed to providing exceptional healthcare technology solutions to its clients worldwide, and this new office will focus on areas such as digital transformation, product engineering, cloud services, data, and AI. Rajan Kohli, CEO, CitiusTech, said, "We are excited to expand our operations to Poland, a country with a strong talent pool and a growing economy. This expansion will keep us closer to our clients, help us be more agile and bolster our global delivery model to deliver enhanced experience to our current clients. In addition, we are optimistic that this expansion will aid in our efforts to build a ...
In an interview with Business Standard's Sohini Das, Chairman and MD of Aster DM Healthcare, Azad Moopen, shares his expansion plan in India. It will soon open its sixth hospital in Kerala. Listen in