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New Indian Express
a day ago
- Business
- New Indian Express
NIT-R convocation: 2,065 students receive degrees
ROURKELA: At least 2,065 students were awarded degrees at the 22nd convocation ceremony of the National Institute of Technology-Rourkela (NIT-R) held here on Friday. Addressing the graduating students, chief guest and CMD of Mahanadi Coalfields Ltd (MCL) Uday A Kaole said, 'This day marks the beginning of a new, challenging chapter where your knowledge must translate into performance, with accountability, integrity and purpose. Education is the foundation of national progress, and institutes like NIT-Rourkela are critical pillars in this journey. Be adaptable, stay rooted in your values, and always strive to give back.' Virtually addressing the students, chairman of the Board of Governors (BoG), NIT-R SN Subrahmanyan said, 'We are in an era defined by youth, innovation, and boundless potential. As engineers graduating into a rapidly transforming world, you are architects of change.' NIT-R director Prof K Umamaheshwar Rao said by introducing new-age programmes such as BTech in Artificial Intelligence, and a growing international student community, the institute is preparing graduates to thrive in a rapidly evolving global landscape. On the occasion, 1061 BTech degrees, 21 BArch, 39 BTech and MTech dual degree, 68 Integrated MSc, 180 MSc, six MA, 43 MBA, 469 MTech, one Master of Technology (Research) and 177 PhD degrees were awarded. The degree recipients included 93 international students from USA, Afghanistan, Sri Lanka, Bhutan, Bangladesh, Nepal and Non-Resident Indians. Gold medals were awarded to Swayansha Routray for best graduate in BTech and BArch, Barsa Barnali Das for best postgraduate in MTech, Satyajit Sahu for best postgraduate in MBA, Pranay Sahu for best postgraduate in Integrated MSc, Akash Devgan for best postgraduate in MSc and MA, Estari Uday Kiran for best postgraduate in BTech and MTech dual degree, Vaghasiya Rominkumar Ashvinbhai for best postgraduate project in MTech and dual degree besides Shishir Khanal for best undergraduate project in BTech and BArch. Four distinguished alumnus awards were also given to Prof Sukumar Mishra, Ashok Kumar Basa, RS Raghavan, Dr Bhartendu Deo.
India Today
3 days ago
- Business
- India Today
Genpact tells employees to do 10 hours shift daily, will track their active hours with internal tools
Amid the ongoing debate between work-life balance and work hours, another controversial decision has come up. Genpact, a leading player in the technology and services sector, is facing sharp criticism from employees and HR experts following the introduction of a controversial new policy that increases the standard workday to ten hours. Implemented mid-June. The newly introduced policy mandates extended working hours without any corresponding rise in base salary, a move that many argue is both unfair and this revised system, employee productivity is tracked through an internal portal that monitors daily active hours. Workers who meet the required hours can earn up to 500 points monthly, which translates to Rs 3,000 in incentives. However, only a marginal 5 per cent bonus, roughly Rs 150, is paid for any additional time logged, leaving many questioning the value of the reward, according to the reports. The rollout of this policy has triggered widespread unrest among Genpact's workforce, particularly in its Hyderabad office, where the mood has been described as 'tense' and morale is visibly low. What has further aggravated the situation is the way the policy has been introduced — not through any official HR communication, but informally passed on by managers and team leads. Several employees have voiced concerns about the lack of transparency. 'There's nothing on paper. It's all word of mouth. If anyone challenges it, they're accused of being difficult and risk termination,' said a senior staff member involved in recruitment, the Hindu reported. advertisement Frustration has spilled over onto social media platforms, where current employees are calling out the company's practices. One LinkedIn user, who claimed work with Genpact, raises concerns. He says that mandating 10-hour login "can lead to burnout, productivity, reduced creativity and disengagement." As internal pressure mounts and online criticism grows, Genpact's leadership may soon have to reckon with the consequences of a policy that many feel pushes the boundaries of fairness in the this is not the first time a company has emphasised working extra hours. One of the key comments came from Infosys co-founder Narayana Murthy, who said that one should work 70 hours a week. Last year, he also stated that he does not believe in work-life balance. As toxic as it may sound, he stayed firm on his statement even when trying to defend it. He said, "My view has always been that those of us in India who have received so much benefit from the country, from the taxpayer, have an enormous responsibility to work very, very hard to bring a chance for the betterment of life for the poorer sections of the society. Therefore, I don't regret it." But he is not the only one believing the same. Earlier this year, L&T Chairman SN Subrahmanyan suggested that employees should work even on Sundays. "What do you do sitting at home? How long can you stare at your wife?' he asked, jokingly urging people to 'get to the office.' The offhand comment turned into a full-blown and still ongoing debate on whether the 9-to-5 routine should be stretched and what it would mean for work-life balance.
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Business Standard
5 days ago
- Business
- Business Standard
L&T secures land in Gujarat for green hydrogen, ammonia projects
Larsen & Toubro (L&T) on Tuesday said it has secured a land in Kandla, Gujarat for development of green hydrogen and green ammonia projects. The government is actively promoting green hydrogen as a clean energy source, with initiatives like National Green Hydrogen Mission and pilot projects focused on its use in transportation. Addressing the shareholders, company's Chairman & Managing Director S N Subrahmanyan said L&T has made significant advances in emerging clean energy segments, particularly green hydrogen and small modular reactors (SMRs). Electrolyser manufacturing is already in progress, giving the company a first-mover advantage in Green Hydrogen, he said. "A landmark development was the regulatory approval from US Department of Energy for the transfer of SMR technology to India. With L&T figuring among the only three eligible Indian companies for this, this signals the formal start of our SMR journey empowering us to lead the commercialisation of nuclear energy in the country. Although we set off with global partners for both green hydrogen and SMRs, our long-term goal is to develop proprietary technology, manufacture core equipment, and deliver cost-effective, innovative solutions tailored for emerging markets," he said. Land has been secured in Kandla, Gujarat, for manufacturing green hydrogen and green ammonia units, he said adding that L&T is also capable of executing EPC projects in green hydrogen, ammonia and methanol globally. Earlier, Larsen & Toubro had announced the incorporation of L&T Green Energy Kandla Pvt Ltd for the development of green hydrogen projects. Hydrogen produced through the electrolysis of water and powered by renewable energy, is known as green hydrogen. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
5 days ago
- Business
- Business Standard
Seeing strong growth amid global uncertainties: L&T's S N Subrahmanyan
Despite global uncertainty due to ongoing wars and supply chain disruptions, consistent order inflows from West Asia and rapid infrastructure investments in India are driving L&T's growth, its Chairman and Managing Director (CMD) S N Subrahmanyan said at the company's 80th Annual General Meeting (AGM) conducted online here on Tuesday. 'In India, strong government spending on infrastructure, and rising private investment in sectors like energy transition, data centres, semiconductors, and healthcare signal positive momentum,' the CMD said. 'Despite global uncertainty, your company delivered strong growth across key performance metrics. Group order inflows for the year (2024-25, or FY25) reached ₹3.57 trillion, up 18 per cent year-on-year (Y-o-Y), driven by order wins in infrastructure and energy sectors. Like the previous year, continued capex in the Gulf countries drove international order wins, which exceeded domestic order wins for the second year in a row,' Subrahmanyan said, adding that the company was keeping a close watch on the emerging Israel-Iran war situation. The CMD described FY25 as a transformational year shaped by geopolitical shifts, emerging technologies, climate challenges, and supply chain disruptions. 'Amid these complexities, L&T demonstrated resilience by embracing digital tools, enhancing execution capabilities, and offering sustainable solutions,' he said. The company ended the year with a record-high order book of ₹5.79 trillion, up 22 per cent Y-o-Y, with international orders accounting for 46 per cent of the total. Group revenues rose 16 per cent to ₹2.56 trillion, and net profit climbed 15 per cent to ₹15,037 crore during the year. Improved margins and reduced capital intensity lifted return ratios while continued deleveraging brought down the net debt-to-equity ratio to 0.6x from 0.64x a year earlier. Subrahmanyan said much of the group's debt was now concentrated in L&T Finance, the group's non-banking financial arm. He reaffirmed L&T's focus on shareholder value creation through prudent capital allocation, strategic divestment of non-core assets, and investment in high-growth areas, such as energy transition and digital platforms. The company's infrastructure business continued to anchor its growth, with the successful completion of multiple complex EPC (engineering, procurement, and construction) projects in India and abroad. In the energy segment, L&T has restructured its operations into four verticals — Hydrocarbon Onshore, Hydrocarbon Offshore, CarbonLite Solutions, and Green & Clean Energy — to align better with execution environments and strategic priorities. The offshore unit secured the company's largest-ever order in West Asia while the rebranded CarbonLite Solutions focused on carbon capture technologies, nuclear turbine island systems, and pumped hydro storage. The Green & Clean Energy business was building a scalable ecosystem around renewables, reflecting the company's commitment to global decarbonisation efforts, he said. On the services side, Subrahmanyan said LTIMindtree has emerged as India's sixth-largest information technology (IT) firm, enabling digital transformation for global clients, while L&T Technology Services has expanded its global presence with acquisitions in platform engineering, artificial intelligence (AI), and software product development.
Business Standard
28-05-2025
- Business
- Business Standard
L&T board pay jumps two-fold in FY25, employee headcount shrinks 1.4%
Larsen & Toubro's (L&T's) board of directors saw a two-fold jump in remuneration in the financial year 2024-25 (FY25), with median pay rising to ₹27.6 crore from ₹13.6 crore the previous year, the company's annual report shows. The number of directors in FY25 reduced from seven to six. The median remuneration for key managerial personnel (KMP) rose 7.7 per cent to ₹1.85 crore, with one executive listed under this category. L&T's total employee count, excluding the board and KMP, declined by 1.4 per cent to 56,458. However, the number of women employees rose 11.5 per cent to 4,965, while male employees declined 2.48 per cent to 51,493. The median salary for male staff increased 15.6 per cent to ₹11.29 lakh, while that for female staff rose 5.6 per cent to ₹7.1 lakh. The company employed 2,091 permanent workers in FY25, up 0.57 per cent from the previous year. This included 2,084 male and 7 women workers. The median wage for male workers declined by 3.8 per cent to ₹9.4 lakh, while the median wage for women workers rose 11.1 per cent to ₹13.57 lakh. Total staff expenses rose 13.6 per cent year-on-year to ₹46,769 crore in FY25, the company said, reflecting a combination of manpower ramp-up and salary revisions. Staff cost as a percentage of revenue declined by around 30 basis points, supported by higher topline growth. 'The group continues to focus on productivity improvements, digitalisation and manpower optimisation across its businesses,' the company said. The board-level pay hike comes amid a strong operational performance for the group. Order inflows for the year reached ₹3.57 trillion, up 18 per cent year-on-year, led by wins in infrastructure and energy. International orders, driven by sustained capex activity in the Gulf region, outpaced domestic wins for the second straight year. The company's order book crossed Rs 5 trillion during the year, closing at ₹5.79 trillion, a 22 per cent increase from the previous year. International orders now make up 46 per cent of the total order book. L&T posted revenues of ₹2.56 trillion in FY25, marking a 16 per cent growth. For the full year ended March 2025, the engineering conglomerate reported a net profit of ₹15,037 crore, up 15.1 per cent Y-o-Y. 'The global economic landscape remains unpredictable, shaped by rising policy uncertainties. Our company is closely monitoring these developments, especially given that a substantial part of our group's business originates outside India,' said SN Subrahmanyan, chairman and managing director in the annual report.
