Latest news with #Tribe
Time of India
5 hours ago
- General
- Time of India
Class 1 admissions stall under Anwesha scheme in Koraput
Koraput: Despite the start of the new academic session, the Koraput administration has not enrolled any new students in Class 1 under the state-run Anwesha scheme, leaving many poor children deprived of the opportunity for quality English-medium education. The Anwesha scheme, launched by the state govt in 2015, aims to provide free education to Scheduled Caste and Scheduled Tribe students in reputed English-medium private schools, with hostel and other necessary facilities fully sponsored by the state. Confirming the development, district welfare officer (Koraput) Sunil Kumar Tandi said, "We have not received any instructions from the govt regarding fresh admissions into Class 1 under Anwesha for the current academic year. Once the directions come, we will act accordingly." Currently, Koraput district has seven hostels under the Anwesha programme, two each in Jeypore, Semiliguda, and Koraput, and one in Laxmipur, with 1,365 children from previous years enrolled in Classes II to X. However, no fresh admissions have been carried out this year. The lack of admissions has sparked concern among parents and rights activists, who fear the delay may deprive an entire batch of eligible children of the scheme's benefits. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Japanese hair growth method Hair's Rich Learn More Undo "Every year, we see poor tribal children getting a chance to study in English-medium schools through Anwesha. This year, no such opportunity has been given. The administration must take proactive steps," said Surendra Patnaik, a local education activist. Meanwhile, in the absence of fresh enrolment, activists have raised questions about the continuity and commitment to a scheme that has played a key role in uplifting education standards among marginalised communities in tribal-dominated districts like Koraput. "The govt should initiate the process soon to ensure that no eligible child is left behind," said Harish Muduli, a tribal activist from Koraput.
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Business Standard
a day ago
- Business
- Business Standard
No plan to scrap post-matric scholarship for ST/SC students: Centre
The Centre has said there is no proposal to discontinue the Post-Matric Scholarship scheme for Scheduled Tribe or Scheduled Caste students. There have been concerns about whether the scheme will continue beyond 2025-26. In a written response in Lok Sabha, Minister of State for Social Justice and Empowerment Ramdas Athawale said the objective of the scheme is to increase the Gross Enrolment Ratio (GER) of SC and ST students in higher education and that there is no plan to scrap the scheme. Both schemes are currently being implemented with funding and eligibility parameters approved by the Cabinet and Expenditure Finance Committee, which remain valid from financial year 2021-22 to 2025-26. The Centre-State funding patterns differ for SC and ST students. For SC students, the cost-sharing ratio is 60:40 between the Centre and the states, except for the North-Eastern states, where it is 90:10. The Ministry of Social Justice and Empowerment releases the central share directly to students' Aadhaar-seeded bank accounts via the National Scholarship Portal (NSP), but only after the state has disbursed its 40 per cent share. For ST students, the fund-sharing ratio stands at 75:25 between the Centre and the states. The Ministry of Tribal Affairs releases 75 per cent of the amount to state governments or Union Territories, which then contribute the remaining 25 per cent and transfer the full amount to students via Direct Benefit Transfer (DBT) in a single instalment.
The Market Online
2 days ago
- Business
- The Market Online
A deeply undervalued property management technology leader
While real estate, as an asset class, is as popular as it's ever been, commanding more than US$213 trillion in global market capitalization, home prices have risen in tandem, creating an affordability crisis that affects more than 1.6 billion people and requires 96,000 new homes per day to be remedied, a goal the world is falling woefully short of. This article is disseminated in partnership with Tribe Property Technologies Inc. It is intended to inform investors and should not be taken as a recommendation or financial advice. The logical consequence here is upward pressure on rental market demand, tenancy representing a more affordable option towards safe and dignified accommodations, with the global rental market expected to compound at 7.4 per cent annually, touching US$4 trillion by 2030. Concurrent with real estate's rise in popularity among investors, the industry has, on a whole, neglected to keep up with technology and the leading-edge efficiencies it can bring to the journey from construction to tenancy and property management. Instead, the majority of new projects still rely on legacy systems based on paper documentation, wire transfers, anecdotal expertise, as well as physical cheques and signatures, adding unnecessary time and cost to the process of closing a deal. This dynamic – of higher home prices and stagnating technological adoption – puts a premium on companies with data-driven solutions than can streamline the property life-cycle, access value dormant in these legacy systems and push the real estate industry's leading edge to newfound levels of productivity. An unacknowledged leader in the property management space An under-the-radar player that stands out under our tech-driven thesis is Tribe Property Technologies (TSXV:TRBE) (OTCQB: TRPTF), market capitalization C$13.42 million, a property management company rapidly gaining market share thanks to its wholistic service and technology suite – from construction to management to living – which is using data to add value by decreasing customer acquisition costs and increasing retention. Here's the company's revenue breakdown: Software and service revenue, currently standing at about 80 per cent, stems from management fees across strata/condo, rental, commercial and new construction projects. Transactional revenue, at about 20 per cent, is generated from value-added services such as software licensing, data reporting, banking, parcel delivery systems and lease-up services. Over Tribe's more than 12 years in business, it has built a turnkey offering that currently stands as the third-largest condo management company in Canada – with over 50,000 homes under management, over 100+ developer partnerships and over 120,000+ residents in Tribe communities – guided by the company's self-ascribed goal of offering 'the most comprehensive and innovative solutions in an industry in need of change,' according to its official website. Tribe has delivered on this change since going public in 2021, growing its data set and extracting insights to improve the health of multi-family residential communities, commercial environments and investment properties, all while offering tangible evidence of being on a path to profitability. Despite this promise, the stock has given back more than 90 per cent to date, creating the conditions for a contrarian investment of monumental proportions. What the market is missing The seven brands in Tribe Property's portfolio grant investors a front-row seat to one of the most exciting micro-cap growth stories in the Canadian market, one where a company with a leadership position, poorly reflected in a stock at an almost total loss, continues to justify a re-rating with impressive financial results. Here they are, in brief: Tribe Management: Strata, condo and rental services in British Columbia, Alberta and Ontario. Meritus Group Management: Condo management services in the Greater Toronto Area. DMS Group Management: Ontario-based rental and commercial property services. Ace Agencies: A single-unit rental management provider in British Columbia, Tribe's most recent acquisition, which we'll discuss more in depth later in the article. Home Pro: Software to organize and streamline post-construction workflow. Tribe Home: The company's condo-living platform designed to strengthen accessibility and transparency among community members. Tribe Market: A marketplace with curated offers for residents, including discounts on food delivery, meal prep services and home insurance, among others. Tribe's multi-pronged approach to real estate value creation is based on a proven acquisition strategy, spanning 15 transactions to date, consisting of targeting inefficient operators, optimizing services through technology, consolidating redundancies, cross-selling services and introducing new ones to improve cash flow to fund future acquisitions. Tribe has validated this strategy on its income statements, delivering a five-year revenue compound annual growth rate (CAGR) of 58 per cent from 2020 to 2024, reflecting exponential growth from less than C$4.5 million in 2020 to over C$28 million as of December 2024. This was followed by a strong C$8 million in Q1 2025. Management has achieved this growth in line with profitability, with Tribe's quarterly adjusted EBITDA (side 6) rapidly increasing from a C$2.43 million loss in Q2 2022 to its first two quarters with positive results under the metric in Q4 2024 and Q1 2025, all while lowering total debt over the past four quarters. This high level of operational excellence is especially impressive, given the volatile macroeconomic environment driven by a pandemic and ongoing wars and trade disputes. 'The buildings Tribe manages are notable for their health. They spend less money on insurance and administrative costs and make more money on financial services with our technologies on board, which is why we have tens of thousands of units in our pipeline over the coming years,' Joseph Nakhla, Tribe Property's founder and chief executive officer (CEO), stated in a recent interview with Stockhouse. Tribe's financial trajectory, coupled with its numerous growth initiatives we'll discuss later on, substantiates its high-quality exposure to an ongoing global property management tailwind expected to post a 5.87 per cent CAGR from US$23.03 billion in 2025 to US$38.48 billion in 2034. Let's take a deeper look at Tribe's past two quarters and 2025 outlook to properly set our bearings about the company's near-term future. Q4 2024 Tribe's Q4 2024 included record revenue of C$8.43 million, up by 64.9 per cent year-over-year (YoY) from C$5.11 million, with more than 85 per cent generated from software and services contracts, encouraging stability on the income and balance sheet. The company also ended the quarter with C$730,000 in adjusted EBITDA, up by 169 per cent YoY from a C$1.05 million loss, marking the company's first profitable quarter, driven by accounting and back-end system consolidations across its subsidiaries, reduced cash burn and a 66.5 per cent YoY leap in gross margins to C$3.52 million. The full-year revenue figure added 46 per cent YoY from C$19.39 million to C$28.26 million, thanks to a 73 per cent increase in software and service fees catalyzed by revenue growth, Ontario-based acquisitions and the absence of material impacts from U.S. President Trump's ongoing global tariff regime. Q1 2025 Tribe carried positive momentum from Q4 2024 into Q1 2025, achieving C$8 million in sales, up by 49 per cent from C$5.3 million YoY, with approximately 80 per cent in the recurring category. The company backed up this nearly record-breaking figure with more fuel for its path to profitability, posting: Gross profits of C$3.3 million, up by 77 per cent from C$1.8 million YoY. Gross margin of 44 per cent, up from 39 per cent YoY. Adjusted EBITDA of C$320,000, up by 124 per cent YoY from a loss of C$1.4 million, notching the company's second positive quarter in a row, driven by increasing scale, greater efficiencies between its subsidiaries and value-accretive capital allocation, including C$1.25 million in vendor takeback debt repaid since September 1, 2024. Tribe parlayed its formidable financials into an insider-led, more than C$1 million financing that closed at a premium on March 31, bolstering the company's C$2.81 million cash position. Proceeds will go towards paying down more debt and streamlining payables during what management believes will be a strong year for the company. Tribe Property's 2025 outlook As per the Q1 2025 news release, management is confident that 2025 will be a year of continued improvements in revenue, margins and profitability, thanks to its solutions' ability to reduce costs and economic uncertainty across the real estate supply chain. Strategic goals for 2025 geared towards greater client and shareholder value include: Increasing monthly recurring revenue through new property management, software licensing and digital services agreements. Pursuing strategic acquisitions, with numerous discussions with profitable target companies currently underway and expected to bear fruit in the coming quarters. A constant focus on unleashing untapped efficiency across the business to improve gross margins, EBITDA and ultimately achieve net income profitability. Maintaining its leadership position by innovating within its software and services suite, emphasizing functionality and sophisticated integrations of artificial intelligence, with a focus on identifying trends to future-proof buildings, better serve the customer and unlock new revenue streams. Management has wasted no time delivering on its promise of value-accretive growth, recently closing on its acquisition of Ace Agencies, a profitable residential single-unit rental property management firm based in Abbotsford, British Columbia. Additionally, in July 2025, Tribe closed a C$5.75 million public offering, further strengthening its balance sheet. The company plans to use the proceeds to reduce outstanding debt and to fund future acquisitions, leveraging the additional flexibility to accelerate growth while maintaining a disciplined focus on profitability and operational efficiency. Tribe triples its single-unit rental portfolio The Ace acquisition tripled Tribe's exposure to Canada's high-margin singe-unit rental market, where demand is rising driven by high and stagnating condo prices, which are dissuading buyers and saddling developers with unsold units. Founded in 1969, Ace has earned its trusted name along the Fraser Valley and Lower Mainland thanks to a focus on reliable service and client needs, currently serving about 900 single-family rental homes. The company is profitable, posting positive EBITDA in 2024 at a margin of 10-15 per cent from more than C$1.4 million in unaudited revenue. Ace's financial performance in 2024 values Tribe's consideration of C$1,457,692 in shares at the deep-value price of approximately 1x EBITDA, offering investors exposure to the company's long-standing reputation and deep community roots for free. The acquisition puts Tribe one step closer to becoming a full-service property management solutions provider, supported by operations that Nakhla describes as well-positioned for sustainable growth and long-term value creation. 'We see Tribe achieving a C$50 million annual revenue run-rate within the next 18 months through combined organic and inorganic growth, putting us on a path to profitability aligned with some of the best-performing real estate players on the market,' Nakhla noted. 'We are strengthening our position as a national property management player with a C$13 million market cap, actively competing with the C$10.75-billion market cap FirstService and the US$4-US$6 billion Associa, continually adding new revenue streams while improving margins.' Let's now turn our attention to the leadership team behind Tribe's burgeoning success, and why their track records deserve high conviction in terms of reflecting this success in the stock price. A leadership team of business builders and real estate specialists Tribe's leadership team, heavily aligned with shareholders at 20 per cent insider ownership, boasts decades in the property management space, complemented by proven skill sets in technology, product development and capital markets that reinforce the company's growth initiatives. Management Joseph Nakhla, Tribe's CEO, founded the company in 2011 and has overseen its development since inception. He previously served as chief operating officer of TIO Networks, a former TSX-listed company acquired by Paypal. Nakhla serves on the boards of OctoAI Technologies and Minehub Technologies. Angelo Bartolini, president and chief financial officer (CFO), has built a more than 30-year career as a public company executive, previously serving as CFO of commercial real estate data and technology leader Altus Group for more than 12 years. Before that, he gained in-depth experience in senior financial roles within the Canadian divisions of Home Depot and Canadian Tire. Scott Ullrich, executive vice president (VP), is a property management veteran, guiding Gateway Property Management as CEO for multiple decades before Tribe acquired it in 2021. He currently leads Tribe's acquisitions and overall business operations. Board Mike Willis, Tribe Property's board chair, is the CFO of Group14 Technologies, a manufacturer of nanomaterials to produce low-cost, high-performance lithium-silicon batteries. Willis also served as CFO of Westport Fuel Systems, a TSX and Nasdaq-listed manufacturer of alternative fuel systems, as well as Gevo, a Nasdaq-listed industrial biotechnology company. His early career saw him occupy the roles of operating principle at Virgin Green Fund and investment manager at Virgin Management. Raymond Choy, director, CPA, is a president and board member of Peterson Group, a real estate investment, development and property management company, where he previously held the role of chief investment officer overseeing acquisitions and dispositions, development, lending, partnerships and private equity. Choy is a previous director of the NAIOP Commercial Real Estate Development Association and chair of the NAIOP Education Committee. Charmaine Crooks, director, is a member of the Order of Canada and a five-time Olympian. She has been president and founder of NGU Consultants since 1997, gaining applicable experience in global strategic advisory and corporate development in the technology, sports, e-sports, health and major events industries. Other current roles include vice president of the Global Esports Federation and founding chair of the Canada Esports Association. Andrew Kiguel, director, has co-founded and guided several Web3 companies including Hut 8, Metaverse Group, Hulk Labs and (now Realbotix). He raised more than $5 billion for clients during his 20-year career as an investment banker, including as managing director and head of real estate banking at GMP Securities (now Stifel Canada). Sanjiv Samant, director, is one of Canada's top company advisors and financiers, with more than 20 years creating value in the technology and healthcare sectors. He is founder and managing partner at PROPELR Growth (formerly Round13 Growth) and previously led the technology, media, telecommunications, sustainability and healthcare investment banking groups at a Canadian bank-owned dealer. Alex Yanitsky, director, previously served as General Partner at PROPELR Growth (formerly Round13), where he was an original member of the investment team. He has over 12 years' experience in growth equity, private equity and corporate finance in the Canadian and European markets. Prior to joining PROPELR Growth, Alex was an executive director at Goldman Sachs in the Principal Investment Area, the equity investing arm of Goldman Sachs' Merchant Banking Division, based in London, U.K. Well-versed in the intricacies of the tenant-manager relationship, the public market and the building of long-term business value, Tribe's executive team is customized to guide its rapidly growing operations without losing sight of bottom-line profitability. In the final section, we'll explore why the company's highly encouraging prospects have yet to find favor among investors and what this might mean about picking up shares today. A differentiated company that epitomizes the appeal of micro-cap stocks If we define investing as aligning your hard-earned dollars with the highest probabilities for meaningful returns, Tribe would fall squarely into the category, pairing a leadership position in the Canadian property management industry and a profitable track record with a stock utterly divorced from underlying operations. While this pairing represents a high-conviction opportunity for robust returns, as we've shown in this article, it's no surprise that the broader market has yet to key into it, since micro-cap stocks are inherently at risk of irrational price-value dislocations because of their small size, low liquidity and minimal analyst coverage. Often trading only a few thousand shares per day, with only one known analyst initiating coverage, Tribe is once again a perfect fit, offering investors who recognize the stock's failure to reflect the company's profitable growth an opportunity to build a stake at a massive discount to future potential. Despite its pessimistic stock performance, Tribe is positioned to carry on adding new services and technologies to its platform, leveraging the platform's ability to add value through efficiency – which is attractive regardless of economic environment – as well as a tight 43.41 million share count for future financings, with eyes on further establishing the Tribe brand as synonymous with fruitful long-term partnerships. In this way, Tribe is rapidly accelerating towards critical mass, one community at a time, when the growth of the business and the profits it generates can no longer be ignored by the average investor. 'As a shareholder, if you ask yourself, who is disrupting transportation? You might say Uber. Food delivery? You'll say DoorDash. Hotels and travel? Perhaps aggregators such as Airbnb or Travelocity. But if you ask yourself who is disrupting the multi-trillion-dollar real estate industry,' Nakhla added, 'I think Tribe should come to mind.' Join the discussion: Find out what everybody's saying about this property management technology stock on the Tribe Property Technologies Inc. Bullboard and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Indian Express
2 days ago
- Business
- Indian Express
‘No plan to scrap post-matric scholarship for ST/SC students': Centre
The Centre has said there is no proposal to discontinue the Post-Matric Scholarship scheme for Scheduled Tribe or Scheduled Caste students. There have been concerns about whether the scheme will continue beyond 2025-26. In a written response in Lok Sabha, Minister of State for Social Justice and Empowerment Ramdas Athawale said the objective of the scheme is to increase the Gross Enrolment Ratio (GER) of SC and ST students in higher education and that there is no plan to scrap the scheme. Both schemes are currently being implemented with funding and eligibility parameters approved by the Cabinet and Expenditure Finance Committee, which remain valid from financial year 2021-22 to 2025-26. The Centre-State funding patterns differ for SC and ST students. For SC students, the cost-sharing ratio is 60:40 between the Centre and the states, except for the North-Eastern states, where it is 90:10. The Ministry of Social Justice and Empowerment releases the central share directly to students' Aadhaar-seeded bank accounts via the National Scholarship Portal (NSP), but only after the state has disbursed its 40 per cent share. For ST students, the fund-sharing ratio stands at 75:25 between the Centre and the states. The Ministry of Tribal Affairs releases 75 per cent of the amount to state governments or Union Territories, which then contribute the remaining 25 per cent and transfer the full amount to students via Direct Benefit Transfer (DBT) in a single instalment.
The Hindu
2 days ago
- Politics
- The Hindu
No plan to scrap post-matric scholarship for ST/SC students: Centre
The Centre has said there is no proposal to discontinue the Post-Matric Scholarship scheme for Scheduled Tribe or Scheduled Caste students. There have been concerns about whether the scheme will continue beyond 2025-26. Also Read | Pre-matric scholarship for minority students was discontinued based on 'cogent reasons': Minister In a written response in Lok Sabha, Minister of State for Social Justice and Empowerment Ramdas Athawale said the objective of the scheme is to increase the Gross Enrolment Ratio (GER) of SC and ST students in higher education and that there is no plan to scrap the scheme. Both schemes are currently being implemented with funding and eligibility parameters approved by the Cabinet and Expenditure Finance Committee, which remain valid from financial year 2021-22 to 2025-26. The Centre-State funding patterns differ for SC and ST students. For SC students, the cost-sharing ratio is 60:40 between the Centre and the States, except for the North-Eastern States, where it is 90:10. The Ministry of Social Justice and Empowerment releases the central share directly to students' Aadhaar-seeded bank accounts via the National Scholarship Portal (NSP), but only after the State has disbursed its 40% share. For ST students, the fund-sharing ratio stands at 75:25 between the Centre and the States. The Ministry of Tribal Affairs releases 75 per cent of the amount to State governments or Union Territories, which then contribute the remaining 25% and transfer the full amount to students via Direct Benefit Transfer (DBT) in a single instalment.
