Vadodara turns out to be favourable investment destination in the real estate segment

Investing in real estate constitutes largely to identify the right opportunity. The key factors to look for investment are requirements,  appreciation, value and various reasons – One of the crucial ones being – the city and the area. There are various cities in India that are favourable from investment point of view. One of the cities that is into the radar is the cultural centre of Gujarat – Vadodara, says Pankaj Srivastava Chief Operating Officer, Maitreya Realtors & Constructions Pvt Ltd.

Pankarj Srivastava, Naresh Kanodia and Janardhan Parulaker at the inauguration of Maitreya Paradiso at Vadodara.

Maitreya Realtors & Constructions Pvt Ltd (MRCPL), the construction arm of the Maitreya Group of Companies, started in 1998 is a real estate company engaged in the business of commercial, residential and retail projects. Under the leadership of its CMD, Varsha Satpalkar, the company currently focuses on construction and development of real estate properties across the states of Maharashtra and Gujarat. The acumen of Pankaj contributes largely to the success of the company.

With the proud track record of building trust and delivering values to all its stakeholders, MRPCL is poised to become a leading brand in the real estate sector. The company is recognized for its quality, sustainable projects, transparent deals, timely delivery and services for all income groups. Its strategic alliances and partnerships, as well as highly competent in-house team, enables the company to undertake and smoothly execute construction of high-end bungalows, villas, residential apartments as well as shopping malls across the country. To its credit, the company has several sophisticated myriad housing projects in various cities of Maharashtra such as Pune, Aurangabad, Vasai, Dhule, Jalgaon and Sangli, to name a few; while it has also constructed several commercial projects in Mumbai, Sangli and Kolhapur.

Currently, MRPCL is engaged in designing, building and marketing of its several residential and commercial projects in Nashik and Sangali. Some of these key projects are:

Maitreya Greens – It is the first ever IGBC Gold pre-certified green project in Nashik. Spread across ten acres of lush green land, of which only 40 percent would be developed into six residential towers. Comprises of Ground plus 14 floors, these towers are constructed in a complete eco-friendly manner.

Maitreya Pandav Van – Located beside famous Pandav Caves, Pandav Van is a 40 Exclusive 2 BHK Twin-bungalows Scheme. Each bungalow comes with a private garden, car parking, balconies and terraces, planned in a way that it ensures full privacy and at the same time offers lot of open space.

Maitreya Sankul – Located amidst lush green landscape of Pathardi, Maitreya Sankul is a residential project that comprise of six storey buildings offerings 2 BHK spacious flats that easily fits into the budget of middle-income families.

Maitreya Sunrise – A perfect combination of commercial and residential units, Maitreya Sunrise consists of 62 residential apartments, 39 shops and 10 godowns. This finest complex is constructed at a prime location in Sangli which is well connected to railway station and bus stand.

A veteran for over 20 years in real estate sector, Pankaj is responsible for strategic planning and managing overall business operations of the company. He started his career as an Assistant Civil Engineer at Continental Constructions Limited following which he joined Larsen & Toubro Ltd as a Civil Engineer for a span of five years. His stint as a project manager in Gherzi Eastern Limited and Macquarie Real Estate helped him climb the ladder. In July 2010, Pankaj joined Tata Housing Development Co. Ltd as General Manager – Engineering after which he earned the designation of Vice President with Octamec Engineering Limited.

Today, Pankaj has successfully established Maitreya Realtors & Constructions Pvt Ltd by managing the company’s day-to-day operations smoothly. With a sound knowledge of statutory, municipal rules and regulations and labour laws, strong technical and commercial acumen, experience in macro and micro level planning and ensuring contracts are administered effectively and efficiently, Pankaj has capitalised the stature of Maiterya Realtors & Constructions Pvt Ltd in the real estate space. His scheduling and implementing construction projects by ensuring development of integrated Program Plan that addresses contingency and minimises interruptions and provides safeguards against project over-runs and implementation of project control has resulted into rapid expansion.

A Post Graduate in Civil Engineering from Birla Institute of Technology and Science – Pilani Rajasthan, has also attended a Short Term Course on Sesmic Designs from IIT Kanpur and course on an Internal Auditor for ISO Systems – BIS.

In a tete-a-tete, Srivastava shares insights on the real estate overview in Vadodara and how the city favours to be a favourable investment option. Exerpts:

Naresh Kanodia at the opening of Maitreya Paradiso at Vadodara.

JM: What are the reasons which define Vadodara as a favourable investment destination?

PS: Various reasons secure defining Vadodara as a favourable investment destination. To mention a few, the city is emerging as an IT hub. There are major infrastructural developments planned in the city coupled with the industrial areas, which shall lead to improved connectivity to the city and increased employment opportunities within and around the city. The Delhi-Mumbai Industrial Corridor passes through Vadodara, making it a key destination for attracting industrial investments.

Gujarat’s leading educational institutions are located in Vadodara, offering skilled and intellectual manpower in abundance for various industries and R&D activities. Interestingly it is an ideal destination for the Non-Resident Indians (NRIs) to settle down as well. It is also an emerging hub for various glass manufacturing companies and automobile ancillary plants. Various towns are home to Pharmaceutical and other Chemical manufacturing ventures.

Vadodara is home to a large number of reputed large scale industries and public sector units like Indian Petrochemicals Corporation Ltd (IPCL), Oil and Natural Gas Corporation (ONGC), Gujarat Alkalies and Chemical Ltd (GACL), and Gas Authority of India Ltd (GAIL). A large number of builders have also become a major part of Vadodara real estate.

JM: Can you talk about Maitreya’s projects in Vadodara?

PS: Maitreya Realtors & Constructions Private Ltd (MRCPL), the construction division of the Maitreya Group of Companies had launched its premium plotting project near Ajwa Funworld in the name of Maitreya Paradiso.

Maitreya Paradiso is located at the Rasulabaad Jharod crossing, before Ajwa Funworld. Surrounded by lush greenery, the project entails 120 plots ranging from 1800-8000 square feet targeting a range of buyers depending upon their choice and preference. Customers can buy these plots and construct their desired villas as per the standard elevation and specifications.  The Infrastructure that includes a attractive designed compound wall, grand entrance plaza, internal roads, electricity and water connections to individual plots, storm water drains, Sewage treatment plant, soft water supply and an elegant club house.

JM: What makes this project unique…

PS: It is a unique venture for those who wish to invest in land parcels or for those looking for their second home or thinking about their retirement homes. One can buy the plot and construct home as per his requirements.

With the urban development authority of Vadodara continuously encouraging many construction companies to establish residential areas, IT parks and shopping malls within the city, the city promises a bright future not only for itself but also for those who intend to draw on the prospects of an emerging cosmopolitan.

 

Daimler India Commercial Vehicles lay foundation stone for its new Bus Manufacturing Plant at Oragadam

The Oragadam, Chennai-based Daimler India Commercial Vehicles Private Ltd (DICV), the wholly-owned subsidiary of the world’s leading commercial vehicle manufacturer Daimler AG, yesterday laid the foundation stone of its new bus manufacturing plant.

From (L-R):  Markus Villinger, Head – Daimler Buses India; Hartmut Schick, Head – Daimler Buses & CEO – EvoBus GmbH; Dr Wolfgang Bernhard, Member of the Board of Management of Daimler AG, responsible for Daimler Trucks and Daimler Buses and Marc Llistosella, MD & CEO, DICV.
Dr Wolfgang Bernhard, Daimler AG Board member, responsible for Daimler Trucks and Buses formally laid the foundation stone for the new bus plant in Tamil Nadu, India in the presence of Hartmut Schick, Head of Daimler Buses and CEO EvoBus GmbH, Marc Llistosella, Managing Director and CEO, DICV; Markus Villinger, Head, Daimler Buses, India, a host of Indian and International media, Dealers, Suppliers and DICV personnel.
While speaking to the select media persons who were taken to the plant, Dr Bernhard said: “On the basis of our strong truck business, we are now pressing ahead on the Indian bus market. For that purpose, we are consistently using existing suppliers, our production site and our sales network in India”.
New bus plant
The new Bus manufacturing plant is spread across an area of 27.91 acres will be constructed within the existing premises of DICV. The bus plant will manufacture and assemble buses under the Mercedes-Benz and BharatBenz brands and will be completed by second Quarter 2015.
The DICV plant at Oragadam, near Chennai in the south Indian state of Tamil Nadu will thus be the only Daimler Truck plant globally that manufactures three brands of trucks and buses, as well as engines all under one roof. Daimler India buses will be offered in nine tonnnes, 16 tonnes and above 16 tonnes categories in both front and rear engine configurations. An investment of Rs 425 crore has been earmarked for the bus project in India for an installed capacity of 1,500 units in the first phase. The capacity can be further expanded to 4,000 vehcieles subsequently, a company official said.

Schick pointed out: “Our two-fold strategy with BharatBenz and Mercedes-Benz buses allows us to cater to the different needs of Indian customers in a perfect way. In terms of safety, fuel efficiency, quality, and comfort, both brands will set new standards in the Indian bus sector”.

From (L-R): Marc Llistosella, Dr Wolfgang Bernhard, Hartmut Schick and Markus Villinger.
Daimler India has partnered with Wrightbus, a leading global player in bus body building, for its front-engined buses. The state-of-the-art bus body building facility will be part of the new bus plant. The bus body will be superior in terms of technology and reliability meeting Daimler global standards of quality and efficiency.
Llistosella added: “We, at DICV, are extremely proud and confident about this new beginning. Since inception, we have delivered on all our promises for the Indian market, and we are continuously achieving new milestones. BharatBenz, having already achieved the No.4 position in trucks in India, has now become the preferred brand for most of the truck customers, thanks to its high performance products backed by best-in-class service levels. I am confident that the new bus project will continue to deliver same level of promise and experience to the customer”.
Villinger concurred: “The new Bus plant will roll out the first buses by second Quarter 2015. The bus division will have a dedicated strength of 300 personnel besides using the synergies of DICV’s existing expertise”.
Consolidation
It may be recalled that as early as in April 2013, Daimler India Commercial Vehicles (DICV) consolidated commercial vehicle operations in India by integrating Mercedes-Benz Buses business into its operations. Subsequently, the Marketing, Sales and Service of Mercedes-Benz buses were aligned to the marketing function of DICV in line with Daimler’s global practice to ensure better synergies in business verticals.
The existing and upcoming Dealership network of DICV which caters to the BharatBenz range of trucks will also participate in the Daimler Bus business. The well-established and state-of-the-art dealerships will enhance the confidence of Indian customers. The network will ensure that every Bus customer is treated to an international service experience.
Daimler India Commercial Vehicles (DICV) is the subsidiary of Daimler AG, Stuttgart, Germany. DICV is contemplating on manufacturing medium and heavy-duty commercial vehicles for the Indian volume market, under the brand name – BharatBenz. BharatBenz stands for Indian engineering with German DNA. The products have been engineered to serve all major customer segments, from owner-drivers up to large fleet operators. The efficiency of BharatBenz trucks is an optimal fit for customers keen on efficiency, a low Total Cost of Ownership over the life-cycle and highest profit potential for their businesses. The state-of-the-art production plant at Oragadam, near Chennai, spreads over 400 acres (160 hectares). It includes a modern test track designed to simulate Indian conditions – making it one of its kind in Asia.  DICV has a total dedicated investment of over Rs 4,400 crore (€ 700 million).
The Company also handles Production, Marketing, Sales and After Sales of Mercedes-Benz Actros Trucks in India. Mercedes-Benz Trucks with the Brand Promise ‘Trucks you can Trust’ are renowned world-wide for their reliability and efficiency under most extreme operating conditions, as well. These trucks also offer the best that Truck Technology has to offer. The Daimler Bus division in India was merged with DICV in April 2013. In May 2013, a new range of FUSO trucks were launched as part of Daimler’s ‘Trucks Asia’ strategy. DICV is currently focussed on expanding its presence in the Indian Bus market. To this end DICV is currently in the process of setting up a dedicated manufacturing facility for the manufacture of Daimler Buses under the Mercedes-Benz and BharatBenz brands. The new manufacturing facility will also include a state-of-the-art body-building facility within its premises. Sustainability being a core of Daimler’s corporate culture, DICV will focus on creating efficient, reliable and ecologically friendly products.
BharatBenz
BharatBenz is the Indian truck brand of Daimler AG, the world’s largest Commercial Vehicle manufacturer and inventor of the truck. Backed by over a century of global trucking experience and an in-depth understanding of the Indian terrain, BharatBenz is here to transform the country’s trucking industry. BharatBenz offers Indian customers an entire truck portfolio in the 9 to 49 tonne range across various applications. The name – BharatBenz – brings out the two most defining qualities of a brand that is being built exclusively for India. ‘Bharat’ carries the values, ideologies and spirit of the nation, and reinforces the brand’s commitment to serve the Indian market. ‘Benz’ upholds the lineage of innovation, technological brilliance and engineering excellence that have given unparalleled performance and great value for generations. Powered by the synergy between global leadership in technology and local deep rooted customer knowledge, BharatBenz builds robust, reliable, performance-oriented trucks to drive maximum productivity and deliver maximum value to customers across the country. With BharatBenz, a new era in Indian trucking has arrived.

Daimler India get CRISIL A1+ and CRISIL AA/Stable ratings for short and long-term operations

The Oragadam, Chennai-based Daimler India Commercial Vehicles Private Ltd (DICV), the wholly wholly-owned subsidiary of the world’s leading truck manufacturer Daimler AG, has been rated CRISIL A1+for short-term and CRISIL AA/Stable for long-term operations in the country.
According to a company statement, CRISIL, a global analytical company providing ratings, research, and risk and policy advisory services has assigned this rating for DICV for its strong managerial, operational and financial support that the company received from its parent Daimler AG. The ratings also factor in the high level of indigenisation achieved by DICV at its recently commissioned commercial vehicle manufacturing plant and company’s strong operational capabilities.

Marc Llistosella, Managing Director and CEO, DICV, said: “The ratings reflect our stability in the market with a robust business plan and well-structured operations. With an increasing high-level of indigenisation of our products, the company will remain competitive and superior in terms of offering value products and services to the customers. We will continue to remain focussed on our business to realize our long-term growth in the country”.
Parthasarathy Thota, Chief Financial Officer, DICV, added: “DICV is a very stable and forward-looking organisation. Being part of Daimler AG, a global leader, DICV’s business plans are aligned with the utmost sensitivity to the requirements in India. Regular equity infusion by the parent organisation ensures that DICV is strongly oriented to achieving its goals in India. The rating from CRISIL – a world renowned rating agency, is ample proof of the solid fundamentals of DICV’s business”.

Investments

Being a wholly owned subsidiary of Daimler, DICV has access to the superior technology and expertise in the CV segment. The company looks at India as a key market for growth in Daimler’s global trucks business. DICV also receives managerial, financial and operational support from the parent company. Daimler is investing Rs 4,400 crore for its Indian operations, one of the largest Greenfield investments outside Europe. Daimler’s substantial cash reserves, marketable securities and financial strength provide it adequate flexibility to provide additional support to DICV’s operations.

Honda Cars India opens first car manufacturing plant in Rajasthan with the roll out of Amaze

Honda Cars India Limited, leading auto maker of premium cars in the country today commenced production of cars from its new plant located at Tapukara in District Alwar in Rajasthan. According to a company statement, Honda Amaze is the first car to roll out from the new factory. Vasundhara Raje, Chief Minister of Rajasthan and Yasuhisa Kawamura, Minister and Deputy Chief of Mission, Embassy of Japan in India jointly were present the event. The event also witnessed the attendance of Senior officials from Government of Rajasthan, Honda senior management and their business partners.

Raman Kumar Sharma, Hiroyuki kachi, Hironori Kanyama, Yushiyuki Matsumoto, Shigeru Yamazaki and Rajeev Wasan at the first car roll out from Honda’s second plant.

First plant in Rajasthan

HCIL plant in Tapukara is the first car manufacturing plant in the state of Rajasthan. Spread over an area of 450 acres, the facility is an integrated manufacturing unit including all functions of Forging, Press Shop, Powertrain shop, Weld shop, Paint shop, Plastic Moulding, Engine assembly, Frame assembly and Engine Testing facility. This plant is the culmination of the best manufacturing know-how and practices gathered from Honda’s global operations. It employs optimum automation, latest equipment and best layout for achieving high quality, best ergonomics, improved operational efficiency and safety. The plant is highly focused on conservation of the environment and efficient use of energy and other natural resources. With a cumulative investment of Rs 3526 crore, Tapukara plant currently employs about more than 3200 associates. The Tapukara plant is the seccond plant of HCIL which started its Phase I operations in September 2008 with Press Shop and Power Train Unit for engine components. With the start of production of cars in the second plant, HCIL’s total installed production capacity has been increased to 240,000 units per annum in India.  During the current fiscal year 2013-14, HCIL set a new record of crossing 100,000 unit sales for the first time in a financial year by selling 101,370 units in April 2013– January 14 period registering a growth of 78 percent over same period last year which is the highest growth among other brands in the industry. Speaking on the occasion Yoshiyuki Matsumoto, Managing Officer, Honda Motor Co Ltd, Japan and Representative of Development, Purchasing and Production in Asia and Oceania Region said: “India is an important market for Honda and with the beginning of car production at Tapukara plant, we are advancing our commitment to expand Honda’s business in India. We are thankful to the Government of Rajasthan for extending all the support to participate in the industrialisation of the state. Through our products and operations, our goal is to make Honda a company that society wants to exist”. Hironori Kanayama, President and CEO, Honda Cars India Ltd said: “The beginning of car production from our second plant is a significant milestone for HCIL. With overwhelming response to our current models like Honda Amaze and all-new City and promising future line-up, we are ready to cater to the strong demand for Honda cars from our customers in India”.

About Tapukara Plant :

·         Location – Tapukara Industrial Area, Distt. Alwar, Rajasthan,

·         Area – 450 acres

·         Installed production capacity – 1,20,000 units per annum

·         Employment – Around 3200 associates

·         Cumulative Investment – Rs 3526

Auto Expo 2014: Indian auto component makers look at exploring business opportunities with Canadian automotive industry

Auto Component Manufacturers Association of India (ACMA), the nodal agency, which takes care of the interests of Indian auto component industry, along with Automotive Parts Manufacturers Association (APMA) on February 8, 2014 jointly organised a seminar on ‘Business Opportunity with Canadian Automotive Industry’, at Pragati Maidan, New Delhi as part of the Auto Expo 2014.

From (L-R): Deep Kapuria, Past President ACMA, Steve Rodgers, President of APMA, Harish Lakshman, President of ACMA, Sara Wilshaw, Minister, Commercial, Government of Canada, Peter Frise, Scientific Director and CEO, AUTO21 and Ramesh Suri, Vice President of ACMA.
According to an official statement, both the associations organised the session with a mission for Canadian firms to explore the potential opportunities, collaborations and partnerships with India.
Transformation
At present, the Indian auto component industry is undergoing transformation, while ACMA and its member firms are working towards improving the overall competitiveness of the supply chain through various tiers.
Indian scenario
At present, the Indian auto component industry size is pegged at $ 39.7 billion with key growth sectors in the vehicle production area including commercial vehicles, construction equipment, tractors, both two-wheeler and three-wheeler segments respectively.
Growth factor
The key growth factor for the Indian auto component industry has been the consistent burgeoning of exports of auto parts. Exports of auto parts from India to Canada has doubled from $ 50 in 2010 to $ 93 million in 2012, thereby providing the mettle of the industry at large.
R&D Centres
India is credited of having around 60-65 percent of R&D Centres catering to the internal requirement of the industry leading to a steady increase in employment. The industry offers employment opportunities to close to 30,000 to 35,000 engineers every year. Going forward, the Indian auto component industry’s focus would be to bring more innovation and research so as to make a strong offering to business community across the world.
Canada scenario
The automotive manufacturing industry is the largest sector in Canada. What is more, the auto industry in that country is export intensive, as the nation ships three-quarters of  of production in a year. Canada is part of a fully integrated North American market with annual sales of about 20 million vehicles and accounts for 16 percent of NAFTA production.
Much to offer
Canada has much to offer in alternative fuels and power trains, electric vehicles and fuel cells, connected car and intelligent transportation; bio-materials, composites and light metals, advanced safety systems and more. Furthermore, with Canada’s exports to India still continuing to be around $ 30 million from 2010 to 2012, it is therefore vital for both countries to help promote and grow each others’ export capabilities and technology transfer and hence allow for a healthy dialogue between the two industries.
Part of global supply chain
With introduction of high class technology in India, the component manufactures have been able to be a part of global supply chain. This has greatly been of help on the international market, giving more visibility and growth to the Indian market. By the end of 2020, the Auto Component Industry is expected to grow to $ 115 billion. There is a positive vibrancy seen in the Indian economy showcasing the growing Engineering and IT capabilities for designing and manufacturing which is of utmost relevance to the Canadian automotive sector. This session was attended by a delegation from APMA led by Steve Rodgers, President and Harish Lakshman, President ACMA representing the Indian delegation.
The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Its active involvement in trade promotion, technology up-gradation, quality enhancement and collection and dissemination of information has made it a vital catalyst for this industry’s development. ACMA’s charter is to develop a globally competitive Indian auto component Industry and strengthen its role in national economic development as also promote business through international alliances. ACMA is an ISO 9001:2008 certified Association with a membership of over 700 members.

Gulf Oil Corporation Board approves de-merger of lubricants business into new entity, Gulf Oil Lubricants India

The meetings convened by the Hon’ble High Court of Andhra Pradesh for Shareholders and Unsecured Creditors were held on January 30, 2014. The Chairman of the Shareholders Meeting appointed by the High Court conducted the meeting of all participants and proxy holders. Shareholders present at the Meeting holding 99.99 percent in person or through proxy voted for the resolution. Thereby approving the de-merger of the Lubricants business of the Company, Gulf Oil Corporation Limited (GOCL) into a separate company (wholly owned subsidiary of the Company) namely Gulf Oil Lubricants India Limited (GOLIL), according to a company report. The GOLIL after receipt of the order of the AP High Court and other regulatory approvals will be listed as a separate entity.

The de-merger of the lubricants business from the Company was planned in a way that on de-merger, the lubricants business would have reached a turnover of around Rs 1,000 crore and will have several business initiatives and a large expansion project in hand to grow the business further. On the other hand, the consolidated GOCL residual businesses from explosives, accessories and mining products would be approximately Rs 400 crores. In addition, property income from Bangalore land development would be yielding revenues and cash inflows from Q3 of 2014 – 15.
Therefore, with this de-merger both the sides of the business would be in growth phases, with GOCL concentrating more on property development / realty, the acceleration in business on the GOCL side would change the business scenario for the Company at a fast pace. The existing Share Capital of the Company is Rs. 19.83 crore and post de-merger it will be split equally between GOCL and GOLIL at Rs 9.915 crore each.
The process to be followed for the issue of new shares in the two companies has been given in the Notice to the shareholders issued on  December 31, 2013. At the end of the process, all existing shareholders will receive 1 share of GOCL (FV Rs 2) and 1 share of GOLIL (FV Rs 2) in place of 2 shares (FV Rs 2) held in GOCL as on the Record Date to be announced, after receipt of the Court Orders. The Unsecured Creditors Meeting was also held and the Scheme of Arrangement was approved unanimously. The results of the 2 ballots will be submitted to the AP High Court by the Chairmen of the Shareholders and Unsecured Creditors respectively for their orders in the matter. The appointed date for the de-merger is April 1, 2014.

Isuzu launches first showroom in Bangalore, plans to open 60 outlets pan India by 2015

Isuzu Motors India Private Limited, the Japanese automobile maker and global diesel engine expert, today opened its first showroom in Bangalore, capital city of the south Indian state of Karnataka, according to a company statement.

This is Isuzu’s second showroom this year and first in Karnataka, which is located near Karthik Nagar, Marathalli (Outer Ring Road). With the new showroom, Isuzu has dealer presence across all States in South India. The company has plans to open 60 outlets across India by end of 2015-16 across India. Out of these, the company will open three more dealerships in South in Madurai, Tirupati and Vishakhapatnam by February 20, 2014.
While speaking to the media at the launch, Takashi Kikuchi, President and Managing Director – Isuzu Motors India said: “Karnataka is an integral part of our growth strategy and we are very happy to open our first showroom in the state. With the opening of Karnataka dealership, we have established our presence across entire South India. We are hopeful to set a benchmark of international quality vehicles and gradually build our market in India. Bangalore, globally known as the Silicon Valley of India, is a mix of economic and cultural hub and is one of the fastest growing cities in India. The city is known for its tech-savvy generation, versatile culture, fast growing economy and elite buying stature. Our sports utility vehicle MU-7 will definitely appeal to this target audience”.
The MU-7 inherits Isuzu’s diesel-engine expertise and is endowed with superior fuel efficiency and outstanding engine performance. A 3-metre wheel-base makes the MU-7 one of the longest SUVs available in India, offering luxurious and spacious interiors. Isuzu MU-7 is powered with a 3 litre turbo-charged diesel engine, delivering 163 PS @ 3600 rpm and 360 Nm @ 1800- 2800 rpm range, making it a tough and reliable ride. The MU-7 also features a unique one-of-its kind software ‘Isuzu Insight’, which analyses drive parameters and provide insights of an individual’s driving habits and style, thereby helping improve fuel efficiency and vehicle performance.
Isuzu currently sells two vehicles in India – a sports utility vehicle MU-7 and pick-up truck D-Max. The bookings for MU-7 and D-max will start from today in Bangalore. The MU-7 is priced at Rs 22.7 lakh (Ex-Showroom, Bangalore), while the D-max is priced at Rs. 6.8 lakh (Ex-showroom Bangalore).
New plant
Earlier this week, Isuzu held ground-breaking ceremony at its own manufacturing plant site at SriCity, TADA, Chitoor, in the south Indian state of Andhra Pradesh (near Chennai). The manufacturing plant is likely to be operational by 2015-16. The company has earmarked a total investment of Rs 3000 crore for this plant which is expected to have a capacity of 1,20,000 units once fully operational. As of now, Isuzu has a contract manufacturing agreement with Hindustan Motors (HML) under which HML is contract assembling CKD kits of Isuzu’s sports utility vehicle MU-7 and pick-up truck D-Max, at its Thiruvallur, Chennai plant.

About Isuzu Motors (India)

Isuzu Motors Limited, Headquartered in Tokyo, Japan is a global manufacturer of light commercial vehicles, commercial vehicles, utility vehicles and diesel engines. With operations in 25 countries with its vehicle sold in more than 100 countries worldwide, the company is a leader in pickups and pickup based derivatives in many markets worldwide along with leadership in light commercial vehicles. The company manufactures and sells close to 6 lakh units annually across the world, and is a leader in pickup trucks & derivatives and light commercial vehicles in most of the key markets that it operates in.

Isuzu Motors India Private Limited, a subsidiary of Isuzu Motors Limited, Japan was established in August 2012. The company started its India operations by bringing in limited volume of completely built units (CBUs) for the purpose of test marketing and developing a better understanding of the Indian customers. Isuzu Motors, in the next phase of its project has started the assembly of CKD units in contract manufacturing with Hindustan Motors Limited. This is an intermediate stage of the company’s project in India, before the start full fledge localized manufacturing at its own plant at Sri City in Andhra Pradesh expected by 2016.

Maruti Suzuki accepts proposal from Suzuki Motor Corp through new entity, Suzuki Motor Gujarat for the expansion of Gujarat plant

In a Board Meeting of leading car maker, Maruti Suzuki India Limited, the company has accepted the proposal of Suzuki Motor Corporation for the expansion of Gujarat plant would be accomplisghed through a wholly owned arm of SMC, instead of MSIL.

The wholly owned subsidiary of SMC, Suzuki Motor Gujarat Private Limited would be established by April 2014, according to Osamu Suzuki, Chairman of SMC. He further added that the new entity would not be listed in Indian stock exchanges and would have a start up capital of Rs 100 crore. What is more, SMC is contemplating on commencing the operation of the plant by 2016 end or early the next year.
Arrangement
As part of the new arrangement, Suzuki Motor Gujarat Private Limited will have a contract manufacuring pact with Maruti Suzuki India and the latter till take care of the sales of the new vehicles produced from this factory.
Impact
As the fallout of the announement, MSI’ shares started tanking by 8.12 percent a share to Rs 1,563.20 at close on the Bombay Stock Exchange yesterday, besides the company’s robust financial results. MSI has logged a 35.87 percent increase in Q3 net profit at 681.15 crore, which ended December 31, 2013. The growth is attributed to the increase its localisation drive, along with volatility of rupee and a slew of cost cutting measures initiated by MSI. The auto maker has registered a profit of Rs 501.29 crore during the same period of 2012. The net sales of MSI, however, dipped by 3.07 perccent to Rs 10,619.68 crore from Rs 10,956.95 crore.
According to Osamu Suzuki, apprently, the move would pay off for both SMC and MSI, as it would have freedom for the Indian arm to focus on its sales and service network. MSI might as well pump in its surplus cash for the exmapnsion of the network. As of now, the network can do one million vehicles, but if it is to ramp up to 1.5 million or say, two milliion units, the network needs to be enhanced further, Suzuki pointed out. The plan is to form one group under which Suzuki Japan, Maruti Suzuki and Suzuki Gujarat will come under single roof. Eventually, the benefits would be shared between the three parters, Suzuki elaborated.
In a related development, RC Bhargava, Chairman of MSI said that the company’s capital would be avvailable for investing in other projects including strengthening the sales and marketing teams, besides enhancing the R&D. The vehicles manufactured by SMGPL would be sold to MSI by the Suzuki arm without any return on capital employed. According to the official, the price of the vehicles dold to MSi BY SMGPL will include only the cost of production, plus adequate cast, net of tax, to cover incremental CAPEX requirements.
Earlier plans
It may be recalled that back in 2013, Maruti Suzuki had announced its plant to invest an estimated Rs 4,000 croreto establish its third plant by 2015-16 with a capacity of producing 250,000 vehicles in the first phase. Apparently, the project got postponed, thanks to the market slowdon in the Indian automotive horizon. Nevertheless, MSI did invest a sum of Rs 250 crore on land acquisition at Sanand to set up a car manufacturing plant. The company would have possession of land once the agreement with the Government of Gujarat is frozen. The gameplan of MSI is to lease out this land to SGMPL. When inquiried if SMC had plans of increasing its holding in MSI, Suzuki said: “As of now, there is no such plans. We cannot comment on future plans at this stage”.

Isuzu breaks ground at SriCity today, earmarks Rs 3,000 crore for a new car manufacturing plant

Japanese automotive manufacturer Isuzu Motors, which is establishing its first car manufacturing facility in South India at SriCity, Chittoor district of Andhra Pradesh (near Chennai), has broken ground at a ceremony today. The Japanese auto maker is making an investment of Rs 3,000 crore.

According to a press note issued by SriCity, Isuzu kick started the works in a groundbreaking ceremony held here today. The new car manufacturing plant is coming up on a 107-acre site.

Takashi Kikuchi, President & Managing Director, Isuzu Motors India administered the groundbreaking ceremony and laid the foundation stone, marking the start of construction work, in the presence of Pradeep Chandra, Principal Secretary & Commissioner for Industrial Development, Commerce & Industries Department, Government of Andhra Pradesh, Ravindra Sannareddy, Managing Director, SriCity and other dignitaries.
CSR

In order to enhance technical skills of students, Kikuchi donated a motor vehicle training kit consisting of all elements of a MU7 vehicle to the officials of government ITI, Tirupati through the hands of Chandra.
Production capacity

According to Isuzu, the plant, which produces light commercial vehicles and sports utility vehicles, would go on stream in 2016 with a capacity to churn out 50,000 vehicles. What is more, by 2020 the production capacity would be ramped up to 120,000 unit. It would also generate direct employment for 3,000 people.
Lease agreement

It may be recalled that on March 2013, Isuzu Motors India Private, the Indian subsidiary of the Tokyo based Isuzu Motors Limited signed a lease agreement with Government of Andhra Pradesh and Sri City for setting up a greenfield manufacturing unit at Sri City.

Addressing the gathering, Kikuchi said: “It is an important and exciting day for us since we have broken ground at SriCity. India is a key region in Isuzu’s global growth strategy for its emerging markets and as an important manufacturing hub in the future. Our focus is to accelerate our business and establish Isuzu as an important player in the pickup trucks and utility vehicles market in India. SriCity is in an ideal location offering impeccable opportunity, superior connectivity and great infrastructure which are prerequisites for every industry”.

Addressing the gathering, Chandra said: “I am very happy as the automobile major, Isuzu, that produces world quality diesel vehicles, opted SriCity for establishing its plant. With the consistent followup by the Government of Andhara Pradesh, Isuzu chose SriCity to set up their plant. I am very happy of that. Through single window clearance the process of approval is accelerated and hence several industries are being set up in Andhra Pradesh. By donating a motor vehicle training kit to the ITI, Tirupati, the Japanese car maker is enhancing the skills of the students and this in turn improves the job opportunities to the locals”.
Speaking on the occasion, Sannareddy said: “We are immensely happy that Isuzu Motors has chosen SriCity to establish their manufacturing plant. With Isuzu Motors entering Sri City, we are confident many auto ancillary companies will prefer us due to availability of skilled manpower and land availability. The location and infrastructure are well suited to meet the demanding requirements of the automobile industry. Together with our client base of over 100 companies from 25 countries, the huge investment and employment generation by Isuzu would add impetus to the economic development of the
region”.
Isuzu Motors is a Japanese commercial vehicles and diesel engine manufacturing company, headquartered in Tokyo, Japan. The auto firm’s principal activity is the production, distribution and sale of Isuzu commercial vehicles and diesel engines. Established way back in 1916, as the Tokyo Gas Company, a Japanese oil and gasoline manufacturer, which in 1934 fused with the car manufacturer and was renamed Isuzu, after Isuzu River. Isuzu has R&D, manufacturing and sales bases around the
globe and its products are sold in over 100 countries and regions. Isuzu continues to aggressively implement globalisation in order to support a rich and comfortable lifestyle for people around the world.

Bharatiya Mahila Bank is a vision of economic empowerment for women

Bharatiya Mahila Bank is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women.

Established on Augusst 5, 2013 BMB received the certificate of commencement of Business on Autust 22 and the Banking License from RBI on September 25. The bank’s Corporate Office is located at the IFCI Towers, 9th floor, Nehru Place, New Delhi .
Prime Minister of India, Dr Manmohan Singh and Sonia Gandhi, Chairperson, UPA inaugurated the bank on November 19, 2013. Bharatiya Mahila Bank has nine branches: one each in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Indore, Bangalore, Guwahati and Lucknow, which are currently operational. What is more, the bank will also open branches in all the State capitals and rural areas in a phased manner.
Focus on women

While the Bank will be focussing on the entire pyramid of Indian women, special attention will be given to economically neglected, deprived, discriminated, underbanked, unbanked, rural and urban women to ensure inclusive and sustainable growth. With a team of professionals having rich experience and expertise have designed and developed new products and services to suit the needs of women of all segments including Self Help Groups, women entrepreneurs, salaried women, HNIs and Corporates.
The Savings Bank rate of interest for R00,000 and above is five percent and for amount less than Rs 100,000, the interest rate is 4.5 percent. The interest for deposits of one year is nine percent. With working women in mind, the Bank has designed a special loan product for creating an efficient kitchen, Educational loan, loan for day care centres, vehicle loan, home loan are some of the other loan products that have been designed for the benefit of women. The Bank will also conduct programmes on financial literacy, skill development, training for women of all segments of the society so that women in turn generate more income, more jobs and growth opportunities and contribute significantly for the economic growth of the nation.
The bank, with an all women Board of Directors is headed by Usha Ananthasubramanian as Chairman and Managing Director. The Bharatiya Mahila Bank has become operational within a short span of time after the announcement made by Finance Minister P Chidambaram in his Budget speech. The bank has been allocated with an initial capital of Rs 1,000 crore.
Board of Directors
•    Usha Ananthasubramanian, Chairman and Managing Director
•    Nupur Mitra, Director
•    Renuka Ramnath, Director
•    Tanya Dubash, Director
•    Kalpana Saroj, Director
•    Chhavi Rajawat, Director
•    Pakiza Samad, Director
•    Priya Kumar, Director

Usha Ananthasubramanian, prior to taking over as CMD of the bank, was the Executive Director of Punjab National Bank for over two years.  She started her career with LIC. She joined the banking industry in February 1982 as a Specialist Officer in the Planning Stream of Bank of Baroda and rose to the rank of General Manager. At PNB, Usha was part of the Committee formed for examination of the blue print and other related tasks for setting up of the first women focussed Bank of India. She was the Head of the core management team constituted by the Ministry of Finance, Government of India, for coordinating the process of establishment of the Bank.
In a career spanning over three decades, Usha has worked in various positions in the banking and allied areas. Key assignments held include General Manager South Zone, Bank of Baroda and Life Insurance Joint Venture Formation. She was closely associated with the transformation project of Bank of Baroda including rebranding and innovative HR initiatives.
Usha holds a Masters degree in Statistics from the University of Madras and a Masters degree in Ancient Indian Culture from the University of Mumbai. For further details about the bank, visit http://www.bmb.co.in/home/.
Branches
•    Mumbai – Ground Floor (Towards Trident Hotel), Air India premises, Air India Building, Nariman Point, Mumbai – 400021
•    Chennai – Ground Floor, SIDBI Chennai, Overseas Towers, 756-L, Anna Salai, Chennai – 600 002
•    Kolkata – Apeejay House, 15, Park Street, Kolkata – 700 016
•    Bengaluru – IFCI Bhawan, 2, Cubbonpet Main Road, NR Square (Hudson Circle), Bangalore – 560 011
•    Ahmedabad – IFCI Bhawan, CG Road, Bodyline Churasta, Near Lal Bungalow, Ahmedabad – 380 006
•    Guwahati – IFCI, Christian Baste, Guwahati – Shillong Road, Guwahati – 781 005
•    Lucknow – UTI Tower, Ground Floor, Regency Plaza, 5 Park Road, Opp. Civil Hospital, Hazrat Ganj, Lucknow – 226 001
•    New Delhi – IFCI Tower, 9th Floor, 61, Nehru Place, New Delhi – 110 019
•    Indore – SBI Main Branch Complex, New GPO, AB road, Indore – 452 001