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Friday, July 28, 2017

Indian Hotel Industry Revenues to Grow 9-10% in FY17: Icra

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Mumbai: The country’s hotel industry revenues are likely to improve by 9-10 per cent in 2016-17, mainly aided by improved occupancy, according to a report by rating agency Icra.

The rating agency estimates topline growth for the industry to be at 8 per cent during 2015-16.

The pan-India average room rate (ARR) will be flat for 2015-16, but occupancy improvements of 6-7 per cent supports a revenue per available room (RevPAR) growth of 7 per cent, it said in a report.

Room inventory in the premium category is estimated to increase by 8 per cent for 2015-16, compared to 4 per cent during 2014-15.

With deferment in construction, supply addition would be lower than earlier estimates at 7.7-8 per cent for 2016-17.

Domestic travel, going by domestic airline revenue passenger kilometre (RPKM) trends, exhibited strong growth during the past 12 months indicating improving consumer confidence, it said.

However, given the muted global economic outlook, foreign tourist arrivals (FTAs) growth for calendar year 2016 is expected to be subdued.

Foreign tourist arrivals slowed down to 4.4 per cent during calendar year 2015 (7.1 per cent during 2014). The FTA segment continues to remain far below its true potential, the Icra report pointed out.

Further, it said, the per capita dollar spend by tourists declined sharply in 2015 after remaining stagnant for three years.

Consumer to gain from new power tariff model

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NEW DELHI: In a year or two, power tariff could guide your daily chores such as when you decide to do the laundry or run heavy appliances.

You can also actually reduce your monthly energy bill by feeding electricity from your rooftop solar project into the grid when you are not home or are not running any appliance.

The government on Wednesday laid the groundwork or a consumer-friendly regime by refreshing the power tariff policy , which binds regulators to a roadmap for 24X7 supply , incentivises green energy and removes grounds for litigations and land issues for investments.

The revamped policy indicates a clear-headed approach which takes into account ground realities and makes provisions for states to set the pace, within the given timelines, as well as strike a balance between growth and environment.

There are several takeaways for consumers by way of `time-of-day’ metering, net (two-way) metering and reduced cost of power from expanded capacity to be constructed on land already available with the existing power plants.

The `time-of-day’ metering would entail off-peak rates that would allow consumers flexibility to manage their energy bills better. Net metering would allow consumers with rooftop solar projects to feed into the grid.

“Consumers would become producers,” power mini ster Piyush Goyal said while giving details of the government’s decisions.

The policy also makes it mandatory for both central and state regulators to work out in consultation with state governments a trajectory for achieving 24X7 supply .

There’s reprieve for state utilities burdened by fixed cost payouts for generation capacity they have tied up under long-term agreements but aren’t utilising it becaue of high tariff or cheaper alternatives.

The policy allows generation utilities to use this capacity and sell the power through exchanges and equally share the spoils with discoms. This would help generation cos such as NTPC, which has to idle 1520% of tied up capacity as discoms back down.

Delhi, which has been seeking scrapping of several power pacts with NTPCBSE 0.49 % for
gasfired plants could be one of the beneficiaries. Similar cushion has been provided for power stations running on imported or e-auctioned coal.

Pacific Controls est reconnue parmi les «Top 10 des fournisseurs de solution de l’IdO à plus forte croissance dans le monde» Selon le magazine The Silicon Review

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Pacific Control Systems (PCS), chef de file mondial dans la fourniture des solutions des services gérés par l’Internet des objets (IdO) à l’échelle mondiale, a été classé parmi les «Top 10 des fournisseurs de solutions de l’IdO, à plus forte croissance dans le monde» Selon le magazine Silicon Review.

«Top 10 des fournisseurs de solutions de l’IdO, à plus forte croissance dans le monde»
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Selon le même magazine, Pacific Controls s’est classée en haut de la liste de Silicon Review des 10 fournisseurs de solutions de l’IdO pour avoir pris l’IdO et les initiatives Smart City à un tout nouveau niveau. Pacific Controls sert le bien-être de la communauté au sens large grâce à des stratégies et des actions uniques qui conforment à son engagement à assurer des villes intelligentes durables et un style de vie numérique.

M. Manish Pandey, Rédacteur en Chef de Silicon Review, a déclaré: ” Pacific Control Systems a été reconnue par Silicon Review comme l’un des fournisseurs de la solution de l’IdO à plus forte croissance dans le monde, pour sa réalisation exceptionnelle dans l’année 2015. La liste annuelle célèbre non seulement la gloire des produits ou des services très appréciés des ‘10 entreprises à plus forte croissance’, mais reconnaît également leurs efforts dans la création d’un impact positif sur la place du marché de l’IdO ».

M. Dilip Rahulan, Directeur général du PCS, a déclaré: “C’est un grand honneur d’être reconnue par le magazine The Silicon Review. Pacific Controls cherche continuellement à atteindre l’excellence dans notre domaine spécifique de l’IdO. Nous sommes ravis à Silicon Review pour être reconnu pour nos efforts. Cela nous donne un nouvel élan à poursuivre notre engagement à fournir la qualité et l’excellence dans nos produits et services”.

«Nous espérons de globaliser l’entreprise en utilisant le concept du marché de l’IdO hébergé par cloud. Nous serons un fournisseur de solution complète avec une réputation d’expertise, de qualité et des solutions rentables qui fournissent un style de vie numérique. Au fil des ans, la PCS a démontré des capacités louables dans le développement et la mise en œuvre des technologies de l’IdO qui ont établi de nouvelles normes dans divers secteurs de l’industrie “, at-il ajouté.

Silicon Review observe que PCS habilite la connexion et le contrôle à travers les barrières physiques et numériques et exploite le potentiel profond de l’IdO à travers des services de bout-en-bout et des plateformes avancées. PCS a lancé le concept de Gbots, le cadre de l’intelligence artificielle développée pour la virtualisation des services gérés et pour la prestation d’une intelligence d’affaires en sécurité et en temps réel.

Mindtree rejigs top management

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MindTree, Bengaluru-based mid-sized IT company, is going in for a new leadership team. Subroto Bagchi, co-founder, is stepping down as executive chairman, and incumbent chief executive and co-founder Krishnakumar Natarajan has been elevated as chairman. The company has also elevated co-founder and chief financial officer Rostow Ravanan as chief executive.

However, Bagchi would continue to be on the board of the company. The new roles would be effective April 1.

This is the second major leadership rejig at MindTree, founded by 10 former Wipro employees after founder Ashok Soota exited the company in a bitter boardroom in 2011. Soota later founded another IT services firm Happiest Minds. Another co-founder S Janakiraman quit in 2014 to build a cloud computing start-up.

It also announced acquisition of US-based salesforce consulting company Magnet 360 for an undisclosed sum. Mindtree has been active in acquiring companies having specialisation in digital services, which is rapidly growing to become a major source of revenues for IT companies.

Net profit up 7%
MindTree on Monday said its third quarter net profit grew 7.2 per cent to Rs 150.9 crore and revenues 33.2 per cent to Rs 1,214.5 crore, compared with the same quarter last year, as it won more clients in the digital and managed services verticals.

“We saw good revenue growth in Q3 as we continue to strike the right chord with our clients. This broad-based result reflects the ongoing momentum of our key focus areas such as digital and managed services. Those initiatives combined with our recent acquisitions and deal wins are creating a clear path to further our growth trajectory,” Natarajan, CEO and managing director, Mindtree, said in a statement. The board announced an interim dividend of Rs 4 per share on a face value of Rs 10. MindTree also announced a bonus issue to its shareholders.

‘Office space vacancy to see biggest fall in 2016-17’

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: Vacancies in prime offices fell sharply, driven mainly by demand from companies in the e-commerce, telecom and healthcare sectors, according to a study. It also said the sharpest fall in pan-India vacancy is expected between 2016 and 2017 when it will be slightly less than 13 per cent.

According to JLL India, India’s office space absorption in 2015, at around 36 million sq ft, was the second highest after 2011. Leading this bull-run were cities like Bengaluru, Hyderabad, Pune, Chennai. While the absorption in 2015 was similar to 2011, it was distributed across new and old buildings this time unlike 2011 when it was largely limited to newly completed buildings, it added.

“Showing faith in India’s economic growth, corporate occupiers have been in expansion mode. Companies, especially in e-commerce, telecom and healthcare sectors, have been snapping up office space across cities. This expansion is also reflected by the decline in office vacancy levels across the country – a trend that started in 2013. By 2015-end, cities such as Pune, Bengaluru, Hyderabad and Chennai had a vacancy rate of just 5-12 per cent,” Ramesh Nair, COO – Business & International Director, JLL India said.

Vacancy in Bengaluru has reduced from 16 per cent in 2011 to 4 per cent now. Chennai’s vacancy has come down from 32 per cent in 2010 to 12.5 per cent now. Hyderabad has also seen its vacancy reduce from 17 per cent in 2009 to less than 10 per cent now. Similarly, in Pune, vacancy has reduced from 18 per cent in previous years to 5 per cent now, according to the report.

JLL also said while the demand in 2011 was due to lower rentals after the global financial crisis; in 2015, it was largely thanks to implementation of growth plans by corporates. Interestingly, in 2014, demand had surpassed supply for the first time since 2007. Moreover, the demand forecast looks strong in the medium-term, it added.

These triggers are prompting developers to build fresh supply across cities, in order to meet growing demand, it added.

“Developers, who had been shying away from commercial projects after burning their fingers between 2009 and 2012, owing to a lack of understanding of the commercial asset class and lack of funding, are returning to the market. As demand continues to pick up, occupiers will start taking up spaces in less ideal locations. Grade-B buildings in good areas will also see good absorption,” Mr. Nair said.

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