Latest news with #FinancialServicesandInsurance
India.com
17-07-2025
- Business
- India.com
Good news for Azim Premji, Wipro earns Rs 33360000000 due to…, revenue rises marginally to…
Azim Premji- File image IT giant Wipro on Thursday reported a 9.8% rise in consolidated profit after tax, reaching Rs 3,336.5 crore for the June quarter. In the same period last year, the company had posted a profit after tax of Rs 3,036.6 crore, according to a regulatory filing. The consolidated revenue from operations of Wipro was up marginally to Rs 22,134.6 crore during the April-June period from Rs 21,963.8 crore in the year-ago period. Sequentially, profit and revenue declined by 7 per cent and 1.6 per cent, respectively. Total bookings during the quarter under review stood at USD 4,971 million, up by 50.7 per cent year-on-year in constant currency. Large deal bookings brought in USD 2,666 million, an increase of 130.8 per cent year-on-year in constant currency. Wipro Q1 Results Wipro's IT Services segment, which forms the core of its business, generated Rs 22,080 crore in Q1 FY26, a year-over-year growth of 0.8 per cent and a sequential decline of 1.6 per cent. The company has given a sequential guidance of -1 per cent to 1 per cent in constant currency terms. It expects revenue from its IT services segment to be in the range of USD 2,560 million to USD 2,612 million in the September quarter. The IT Products segment generated Rs 72.8 crore in Q1 FY26, a year-over-year growth of 55.2 per cent. Banking, Financial Services and Insurance (BFSI) remained the largest contributor, accounting for 33.6 per cent of IT Services revenue, but saw a revenue decline of 3.8 per cent in constant currency terms. The consumer sector represented 18.6 per cent of IT Services revenue, registering a 5.7 per cent decline in constant currency. In Energy, Manufacturing and Resources, which made up 17.7 per cent of segment revenue, performance was down by 2.4 per cent in constant currency. Technology and Communications accounted for 15.5 per cent of revenue and was nearly flat for the quarter, dropping 0.3 per cent in constant currency. The Health segment stood out as the only vertical in the positive, contributing 14.6 per cent of segment revenue and delivering a 3.5 per cent growth in constant currency. Employee benefits expense stood at Rs 13,427.5 crore in Q1 FY26, representing 60.6 per cent of revenue from operations. Wipro Q1 Results Dividend Wipro's employee count reduced by 114 quarter-on-quarter during Q1 FY26, bringing the total to 233,232. Wipro declared an interim dividend of Rs 5 per equity share of par value Rs 2 each to the members of the company, payable on or before August 15, 2025. Wipro CFO Aparna Iyer said that the company will endeavour to pay dividends twice a year, once along with the Q2 results and then along with the Q3 results. (With Inputs From PTI)
India.com
03-07-2025
- Business
- India.com
5 Must-Know Truths Before Locking In Your Career Path
The moment after Class 12 results are announced is often filled with both excitement and anxiety. Questions from family, friends, and even strangers begin to pour in: 'What's next?' 'Which college?' 'Engineering or medicine?' It can feel like everyone expects you to have your entire life planned out overnight. But here's the truth: choosing a career is not a one-time decision—it's a journey. And making a confident start doesn't mean having all the answers. It means asking the right questions. Interestingly, the gap between education and employability is more real than many realise. According to the India Skills Report 2024, only 51.25% of graduates in India are considered employable by industry standards . That means nearly half of those who complete their degrees are still not prepared for the job market, often because the choices they made after school didn't align with real-world expectations. Before you lock in your next big step, here are five essential truths shared by Shim Mathew, Director- Academic Operations and International that can help you navigate this journey with greater clarity and confidence. 1. Career Choices at 17 Are a Starting Point, Not a Final Destination Students often feel pressured to have their entire careers mapped out immediately after high school. It is essential to understand that career planning is a continuous journey, and the choices you make at 17 or 18 serve as just an initial starting point. Most professionals refine or redirect their career paths based on experience, interests, and emerging opportunities. Thus, students should focus on building foundational skills, exploring diverse subjects, and gaining clarity over time, rather than seeking a definitive long-term label too early. 2. Interest Must Be Balanced with Employability While pursuing one's passion is often encouraged, it is equally vital to evaluate whether the interest aligns with employment opportunities. For example, the India Skills Report 2024 indicates that sectors such as BFSI (Banking, Financial Services and Insurance), telecommunications, and core engineering continue to report high demand for skilled professionals. Students with an inclination toward creative arts or humanities can explore applied avenues such as UI/UX design, communication strategy, or behavioural science, where interest meets market relevance. The goal should be to find the intersection of personal interest, aptitude, and economic viability. 3. Skill-Based Hiring Is Gaining Ground A growing number of companies are placing greater importance on proven skills rather than formal degrees. Prominent global firms like Google, Apple, and IBM have eliminated degree prerequisites for various positions, emphasising abilities and hands-on experience instead. This shift is also visible in India. Industry leaders are turning to alternative credentials such as project portfolios, certifications from online platforms, and internship experiences. 4. Networking Matters as Much as Knowledge Networking isn't just for working professionals. In fact, students who begin building their professional networks early often find more opportunities, be it internships, mentorship, or exposure to different industries. Reach out to seniors, attend webinars, join student forums, or connect with professionals on platforms like LinkedIn. One meaningful conversation can offer insight, direction, or unlock opportunities you hadn't anticipated. The relationships you build now can become valuable career assets later. 5. Success Is Individual, Not Standardised Lastly, students should resist the temptation to define success through societal or peer benchmarks. A successful career is not only about income but also about job satisfaction, alignment with personal values, and growth opportunities. It is essential to understand that different individuals find fulfilment through different career trajectories—whether through stable corporate jobs, entrepreneurial ventures, research roles, or development-sector work. The key lies in self-awareness, not comparison.
Hans India
16-06-2025
- Business
- Hans India
US firms hit record office leasing volumes in India
New Delhi: US-based companies achieved record-breaking office leasing volumes in India during the period from 2022 to Q1 2025, with 2024 marking the highest annual activity ever recorded, according to global real estate firm JLL. The report highlighted that US-origin Global Capability Centers (GCCs) have played a major role in this growth, accounting for over two-thirds of all US corporate leasing in India. This strong presence reflects India's growing importance in long-term business strategies of American firms. JLL said 'US firms achieved record-breaking office leasing volumes in India during 2022-Q1 2025.... US-origin Global Capability Centers (GCCs) dominate with over two-thirds share of all US corporate leasing. 'Technology remains the leading sector for US occupier activity in India. However, the report also noted that GCCs in the Banking, Financial Services and Insurance (BFSI) sector, as well as those focused on manufacturing, have shown the strongest growth in leasing activity. This points to a shift in India's value proposition, expanding beyond traditional IT services to more diversified capabilities. According to JLL, Bengaluru has reinforced its status as the top choice for US companies, accounting for 35 per cent of all leasing activity by American firms between 2022 and Q1 2025. The city, often called India's Silicon Valley, has evolved into a multi-sectoral hub with growing leasing interest from not only tech firms but also manufacturing, financial services, and e-commerce GCCs. Hyderabad and Delhi NCR followed Bengaluru as the second and third most attractive markets for US occupiers, while Chennai and Pune also saw notable activity. From 2017 through Q1 2025, US occupiers have consistently maintained a dominant 34.2 per cent share of India's total office leasing market. The momentum remained strong into Q1 2025, with leasing volumes matching the quarterly average seen in 2024. Interestingly, the report mentioned that Mumbai stood out as the only major metro where US-based BFSI GCCs have surpassed all other sectors in terms of leasing activity. This further strengthens Mumbai's reputation as the financial hub for American companies expanding global operations. The findings highlight India's rising prominence in the global office market, driven by sectoral diversification and the strong role of US firms in shaping the country's commercial real estate landscape.
Hindustan Times
14-06-2025
- Business
- Hindustan Times
US firms expand office leasing footprint in India; GCCs account for over two-thirds of activity
US firms expanded their office leasing footprint in India in 2024, led by the rapid growth of Global Capability Centers (GCCs) that accounted for more than two-thirds of all leasing activity by American companies. While the technology sector continues to dominate, the fastest growth is now coming from BFSI and manufacturing GCCs underscoring India's evolving appeal beyond traditional IT services. Bengaluru remained the top destination, attracting 35% of US leasing activity, followed by Hyderabad and Delhi NCR, a report by JLL has said. The leasing volumes from 2017 through Q1 2025 showed US occupiers maintained a commanding 34.2% share of India's office market during the 2022-Q1 2025 period, with 2024 recording the highest annual leasing numbers in absolute terms. In fact, Q1 2025 has also maintained the same quarterly average as the previous year. The report noted that while US firms' market share has modestly declined since the pre-pandemic period, their absolute leasing volume has increased by approximately 16%, indicating a strategic deepening of American corporate presence in India despite overall market diversification. Bengaluru has strengthened its position as the preferred destination, capturing 35% of all US occupier leasing activity between 2022-Q1 2025. Hyderabad and Delhi NCR have emerged as the second and third most attractive markets, followed by Chennai and Pune, it said. While technology remains the dominant sector, BFSI (Banking, Financial Services and Insurance) and manufacturing-oriented GCCs recorded the most significant gains in leasing share during this period. Manufacturing GCCs showed the largest percentage increase between the two periods analyzed, directly reflecting the impact of Make in India policy initiative, which has attracted more R&D operations, the report said. 'US-origin GCCs consistently represent over two-thirds of all leasing activity by American firms. This underscores India's central position in long-term business strategies for major US corporations. The predominance of GCCs within US firms' real estate footprint demonstrates that American companies view India not merely as an outsourcing destination, but as a critical hub for innovation and strategic operations,' said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL. Also Read: German IT firm Nagarro leases 7 lakh sq ft of office space in Gurugram at a monthly rent of ₹2.90 crore Within the country, each city offers distinct advantages: Bengaluru has evolved into a multi-sectoral powerhouse beyond tech, Chennai boasts India's most balanced market across BFSI, e-commerce, and tech sectors, Mumbai serves as the financial nerve center where US-based BFSI GCCs dominate, and Hyderabad has established itself as a specialized hub for BFSI, healthcare, and pharmaceutical operations, he said. 'India's combination of skilled talent at scale, supportive ecosystem, cost advantages, and growth-oriented policy environment continues to make it an increasingly attractive destination for US corporations looking to establish and expand their global capabilities,' said Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL. Current active space requirements analysis shows US firms hold a 45% share in overall demand, rising to 55% when considering only non-domestic occupiers. GCC-led requirements constitute 70% of all space demand from US occupiers, signaling continued long-term investment and confidence in India as a key R&D and innovation hub, he said.
&w=3840&q=100)
Business Standard
08-05-2025
- Business
- Business Standard
BFSI's risk index rise amid global economic stability, says CIRI report
The overall Risk Index of the Banking, Financial Services and Insurance (BFSI) sector in India increased to 66 in 2024 from 64 in 2023, according to the Corporate India Risk Index (CIRI) developed by ICICI Lombard and Frost & Sullivan. The rise is attributed to global economic instability triggered by inflation and geopolitical tensions, which posed considerable challenges to financial markets. 'Volatility in global stock markets and fluctuating interest rates created uncertainty for banks and insurance companies, compelling them to re-evaluate their risk exposure and diversify their portfolios to minimise financial losses,' the report stated. Banks also had to manage an increase in non-performing assets (NPAs), particularly in public sector banks, which required greater focus on credit risk management. Regulatory scrutiny around data privacy, cybersecurity and anti-money laundering intensified in 2024, prompting institutions to invest significantly in cybersecurity infrastructure. The introduction of tighter Know Your Customer (KYC) norms and enhanced oversight of digital lending platforms also led BFSI firms to make significant adjustments to their compliance frameworks. Competition from non-banking financial companies (NBFCs) and fintech startups intensified as these entities introduced innovative solutions tailored to niche markets and underserved segments. This has compelled traditional financial institutions to continuously innovate and prioritise financial inclusion. 'As a result, the BFSI sector accelerated its focus on financial inclusion, pushing for greater penetration in rural and semi-urban areas through digital banking services and low-cost insurance products,' the report added. The insurance segment also witnessed steady growth, fuelled by increasing awareness around health, life and general insurance. This was supported by rising disposable incomes and a shift in consumer mindset towards risk mitigation. While the overall risk index rose, the Risk Management Index of the BFSI segment dropped slightly to 66 in 2024 from 67 in 2023. This suggests that although the sector continued to implement robust mitigation strategies—such as digitalisation, improved cybersecurity and compliance—the magnitude of external risks grew more significantly. Despite these challenges, the BFSI sector's proactive risk strategies, including strengthening liquidity buffers, diversifying investment portfolios and enhancing digital infrastructure, enabled it to navigate volatility effectively. The segment also made notable advances in technology adoption, particularly in digital banking, artificial intelligence (AI) and blockchain, to improve customer experience and operational efficiency. Digital payment systems continued to expand rapidly, backed by strong government support and increased demand for contactless transactions—further propelling India's push towards a cashless economy. AI was widely adopted for fraud detection, customer support and personalised services, helping reduce operational costs while enhancing service quality.
