Hospitality Industry To Post Growth
The hospitality industry is expected to grow by 9-10% annually over the next four years, says a report.
This will be mainly due to robust domestic demand and a muted supply pipeline, says the report. Going forward, rating agency Icra expects revenue improvement and margin expansion for the hotel industry and growth is expected to be 9-10% over the next four years, with a strong 10-12% during 2018-19.
The domestic demand in FY19 will continue to be driven by increased air connectivity, and higher appetite for domestic leisure travel, the report adds.
Micromax Eyeing South African Push
Handset maker Micromax is venturing into the South African market as it looks to further boost its international operations, according to a report.
The company expects this move to contribute as much as 20% to its overall revenues by next fiscal.
The company is also looking at expanding its range of consumer durable products like television sets and smart accessories to Russia and Middle East.
Tata Group To Focus On Real Estate
The Tata Group has identified property development business as one of its top three focus areas, says a report.
This comes as the group looks to become a major player in the country’s burgeoning real estate sector, a top executive said.
“We are scaling up the business as we want to be a complete real estate solutions company with presence is all the segments — residential, offices and shopping centres,” said Sanjay Dutt, newly appointed managing director and chief executive officer of Tata Realty and Tata Housing that have been put under single management recently.
Panasonic Targets Toughbook Category
Japanese major Panasonic has said that it expects a 10% market share in the handheld ‘toughbook’ category of devices in the next three years, a report reveals.
The company is also planning to launch new products and services in the Indian market, and engage more with governmental projects, to grow its revenue share from the country, a top company official said.
The company is supplying a lot to government departments, especially GPS devices, known for their ruggedness and compact size. It sees the expansions happening in a lot more areas and its aim is to get at least 10 per cent market share in the next three years, the official added.
Hero Electric Raises Funds For Expansion
Hero Electric said it has raised 160 crore rupees from investment management firm Alpha Capital Advisors to fund its future expansion, according to a report.
With this investment, the Mumbai-based firm has become a “significant minority stakeholder” in Hero Electric.
The funds would also be utilised to strengthen the company’s research and development capabilities to achieve certain rate of localisation, an official said.
Reliance Jio Set To Become No 1
Reliance Jio Infocomm Ltd could become the country’s No 1 telecom operator by revenue in 2021 and on a subscriber basis by 2022, says a report.
The Sanford C Bernstein & Co report said Reliance Jio started operations two years ago with free voice calls and data offering.
It started to charge for data – voice calls to be free-for-life – last year and had amassed about 227 million subscribers to rank third largest telecom operator in the country behind Vodafone-Idea combine and Bharti Airtel Ltd.