Latest news with #Gandhinagar-based
Time of India
31-05-2025
- Business
- Time of India
A'bad-G'nagar hospitality sector getting bigger
1 2 A hmedabad: The hospitality scene is getting bigger in Ahmedabad and Gandhinagar with the twin cities set to add 1,200-plus room keys in five new upcoming premium hotel projects. Currently, the city has at least 6,500 keys in the five-star hotel category. On Thursday, Ahmedabad realty firm AG Group signed a contract with InterContinental Hotels Group (IHG) for a 150-key Holiday Inn hotel along the New Science City area. This mixed-use project spread over 1.6 million sq ft comprises residential towers and the hotel, with AG Group committing an investment of Rs 200 crore for the hotel alone. Gandhinagar-based Kavyaratna Group too recently signed a contract with Hyatt Hotels Corporation for a new property in GIFT City. Sources familiar with the development confirmed that the hospitality chain is slated to come up with another property in Sanand Industrial Estate. From global chains expanding their presence to strategic locations being tapped for business and leisure travellers, the influx signals growing investor confidence in Gujarat's economic hub. Vikram Bharwad, director of AG Group, said, "We will build a 1.25 lakh sq ft hotel, which will be managed by IHG. Construction will be completed by 2028. We also plan to launch at least five more hotels and resorts in various parts of the country in the years to come." "Ahmedabad-Gandhinagar and GIFT City are developing as attractive hubs for businesses and industrial growth. That apart, being home to the world's largest cricket stadium at Motera, Ahmedabad has hosted iconic tournaments like the ICC Men's Cricket World Cup, British rock band Coldplay's live concert, and Indian Premier League (IPL) matches. The city's stature is rising not just as an industrial and business district but also as a cultural, sports, and events hub, which is bound to drive travellers from across the globe to this city. As a result, hospitality investments are on the rise in this region," said Narendra Somani, president, Hotels and Restaurants' Association (HRA) – Gujarat. IHG is also planning more expansions in the region. Sandip Jain, MD, IHG Group, said, "This will be the third hotel by IHG Hotels and Resorts in Ahmedabad. The city has seen growing demand from guests and corporates with increasing business activities and growing income. We currently have around 240 rooms in two hotel brands in the city, and this contract will add around 150 rooms." Sources confirmed that Marriott International's luxury hotel brand, St Regis, is also likely to come up along Sabarmati Riverfront's west bank. TOI had reported that Marriott International is in talks to set up a hotel under its brand JW Marriott at the Adani Shantigram campus on SG Road. The American hospitality major's existing property in the Ramdevnagar area of Ahmedabad is all set for a revamp and rebranding as Le Meridien. SK Patel, chairman of Kavyaratna Group, said, "We are developing a 210-room hotel, spread over 2.40 lakh sq ft with an investment of around Rs 450 crore. GIFT City is emerging as a global financial hub, offering good opportunities for the hospitality sector." Adani Group is also in advanced talks to develop Aerocity at Sardar Vallabhbhai Patel International (SVPI) airport in Ahmedabad, which will house hotels, a convention centre, and retail spaces.
Time of India
26-05-2025
- Business
- Time of India
Infibeam Avenues FY25 net profit up 5% at Rs 160 crore; revenue jumps 27%
Gandhinagar-based Infibeam Avenues , which runs the CCAvenue payment gateway , has reported a consolidated operational revenue of Rs 3,774 crore in fiscal 2025, up 27% from Rs 2,961 crore a year ago. In terms of profit after tax (PAT), the company saw a 5% increase to Rs 160 crore from around Rs 152 crore last year. In the March quarter, Infibeam Avenues reported operating revenue of Rs 1,098 crore, up 65% from Rs 665 crore a year back. Closing FY2025, the RBI-licensed payment aggregator said that it wants to get into consumer payments through Unified Payments Interface (UPI). The company is building a UPI third-party payment app Rediff Pay . Infibeam Avenues acquired a 54% stake in Rediff in August 2024. For the entire business, which includes the domestic payment business, international payments, and businesses from its subsidiary entities, the overall payment value settled by the platform stood at Rs 8.67 lakh crore, up 24% from Rs 7 lakh crore last year. The company said that its net take rate (revenue per transaction) improved to 11.7 basis points (bps) in FY25 from 8.8 bps in FY24. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories As a payment gateway, the company has to share its revenue with banks and other financial institutions. The net revenue that was reported by CCAvenue stood at Rs 525 crore in FY24 compared to Rs 419 crore a year back. Infibeam Avenues has also taken board approval to raise up to Rs 700 crore through a rights issue. The funding will be aimed at developing new business areas like consumer payments, international expansion, and investments in its artificial intelligence (AI) initiatives.
Time of India
24-05-2025
- Politics
- Time of India
Amit Shah to lay foundation stone for National Forensic Science University tomorrow
Nagpur: Union home minister Amit Shah will lay the foundation stone for the Nagpur campus of the National Forensic Science University (NFSU) at Kamptee on Monday, marking a major milestone in Maharashtra's efforts to become a hub for forensic science education. As first reported by TOI on Jan 15, the Nagpur campus, located on a 50-acre site in Mouza Chicholi, will be NFSU's tenth across India and the second in Maharashtra after Pune. The permanent campus is expected to be ready within two years. Until then, the university will operate from a temporary campus at Nagpur University's building near the Visvesvaraya National Institute of Technology (VNIT), currently housing the Police Bharosa Cell. This facility has two vacant floors that will be repurposed for NFSU's academic and research activities. Amit Shah will also inaugurate the temporary campus virtually. "This new campus will strengthen forensic research and innovation, equipping students with specialised skills crucial for law enforcement and cyber investigations," said a home ministry spokesperson. The Nagpur campus will offer courses such as MSc in Forensic Science, MSc in Cyber Journalism, and a Professional Diploma in Crime Scene Management. Online admissions for the first academic session started on March 18, with applications closing on May 5. The initiative aligns with the growing demand for forensic experts across India, aiming to nurture professionals for careers in law enforcement, criminal justice, and beyond. Prime Minister Narendra Modi, then chief minister of Gujarat, established the NFSU in 2009 to develop skilled professionals in forensic sciences. The Gandhinagar-based university currently operates campuses in Delhi, Bhopal, Goa, Tripura, Pune, Guwahati, Manipur, Dharwad, and Uganda, with new campuses planned in Raipur, Chennai, Bhubaneshwar, and Jaipur. The establishment of the Nagpur campus is expected to bolster Vidarbha's educational landscape and enhance India's forensic capabilities, supporting the region's aspirations to emerge as a knowledge hub. ABOUT NFSU This erstwhile Gujarat Forensic Sciences University is the brainchild of the govt of Gujarat. It was established by in 2009 Existing campuses: Gujarat, Delhi, Bhopal, Goa, Tripura, Pune, Guwahati, Manipur, Dharwad, and Uganda Courses offered: BSc in Forensic Science, Cyber Security, and Cyber Forensics, plans to start MSc courses UNION HOME MINISTER VISIT ITINERARY May 25 9.15pm: Arrival at Nagpur Airport May 26 11.15am: Visit to National Cancer Institute, Jamtha 11.20am to 12.50pm: Reserved for Bhoomi Puja of Swasti Nivas 12.53pm: Departure from NCI by helicopter 1.12pm: Arrival at Chicholi, Taluka Kamptee 1:15pm to 1.45pm: Bhoomi Puja of permanent campus and e-inauguration of temporary campus of NFSU 1.50pm: Departure from Chicholi helipad to Nagpur 2.05pm: Arrival at Nagpur Airport 2.10pm: Departure from Nagpur to Nanded
Time of India
14-05-2025
- Climate
- Time of India
3.4 magnitude earthquake hits Kutch, no damage reported
. NEW DELHI: A mild earthquake measuring 3.4 on the Richter scale struck Gujarat's Kutch district on Wednesday evening, according to the Institute of Seismological Research (ISR). A local disaster response official confirmed that there were no reports of injuries or damage to property, reported PTI. The earthquake was recorded at 6:55 pm, with its epicentre located 12 kilometres north-northeast of Bhachau in Kutch district, according to the Gandhinagar-based Institute of Seismological Research (ISR). Kutch district falls in a "very high risk" seismic zone, where low-intensity earthquakes are a frequent occurrence. The 2001 earthquake in the region was one of the strongest and deadliest India has seen in the past 200 years. It caused near-total destruction in many towns and villages, claimed around 13,800 lives, and injured over 1.67 lakh people.
Indian Express
14-05-2025
- General
- Indian Express
3.4 magnitude tremor hits Gujarat's Kutch, no damage reported
A 3.4 magnitude tremor hit Kutch district of Gujarat on Wednesday evening, the Institute of Seismological Research (ISR) said. No casualty or damage to property was reported due to it, a district disaster response official said. The 3.4 magnitude tremor was recorded at 6.55 pm with its epicentre 12 km north-north east (NNE) from Bhachau in the district, the Gandhinagar-based ISR said in its update. District authorities said no damage to property or life was reported. Kutch district is located in a 'very high risk' seismic zone, and earthquakes of lower intensity occur regularly there. The 2001 earthquake in the district was the third largest and second most destructive in India over the last two centuries. A large number of towns and villages in the district suffered almost complete destruction, killing around 13,800 people and leaving 1.67 lakh injured.
