Syndicate Bank Announces Reviewed Financial Results for Quarter ended 31st December, 2015

Performance Highlights for the Third Quarter of

Financial Year 2015-16

 Global Business increased from Rs.438099 crore as at 31st Dec., 2014 to
Rs.464087crore as at 31st Dec, 2015 (up 6% y-o-y).
 Domestic Business increased from Rs.372660 crore as at 31st Dec., 2014 to
Rs.391664crore as at 31st Dec, 2015 registering a y-o-y growth of 5%.
 Global Advances increased from Rs.186630 crore as at 31st Dec., 2014 to
Rs.208194crore as at as at 31st
Dec, 2015 (up 12% y-o-y).
 Domestic Advances increased from Rs.148825 crore as at 31st Dec., 2014 to
Rs.166521 crore as at 31st Dec., 2015 registering a y-o-y growth of 12%.
 Global Deposits increased from Rs.251469 crore as at 31st Dec., 2014 to
Rs.255893crore as at as at 31st
Dec, 2015 (up 2% y-o-y).
 Domestic Deposits increased from Rs.223835 crore as at 31st Dec., 2014 to
Rs.225143crore as at 31st Dec, 2015 registering a y-o-y growth of 1%.
 CASA deposits (domestic) increased from Rs.62445 crore as at 31st Dec.,
2014 to Rs.68036crore as at 31th Dec., 2015 (up 9% y-o-y). Domestic CASA
deposits stood at 30.22% of total domestic deposits as at 31.12.2015.
 Savings deposits increased from Rs.44524 crore as at 31st Dec., 2014 to
Rs.49380 crore as at 31st Dec., 2015 registering a y-o-y growth of 11%.
 Operating Profit stood at Rs.929 crore in Q3, FY 2015-16 as against Rs.838
crore in Q3, FY 2014-15 (up 11% y-o-y).
 Net profit stood at Rs.(119)crore in Q3, FY 2015-16 as against Rs.305 crore in
Q3, FY 2014-15 ( (139%) y-o-y).
 Gross NPA ratio stood at 4.61% in Q3, FY 2015-16 as against 3.60% in
Q3, FY 2014-15.
 Net NPA ratio stood at 3.04.% in Q3, FY 2015-16 as against 2.38% in Q3,
FY 2014-15.
 Provision Coverage Ratio stood at 58.67% in Q3, FY 2015-16 as against
62.96% in Q3, FY 2014-15.
 Cost to income ratio stood at 55.02% in Q3, FY 2015-16 as against 52.01% in
Q3, FY 2014-15.
 Book value per share increased from Rs.201.84 in Q3, FY 2014-15 to Rs.205.13in Q3, FY 2015-16.
Earnings per Share (EPS) – annualised stood at Rs. (7.12) in Q3, FY 2015-16
as against Rs.23.61 in Q3, FY 2014-15.
 Return on Equity (ROE) stood at 5.56% in Q3, FY 2015-16 as against 13.17%
in Q3, FY 2014-15.
 Net Interest Margin (NIM) stood at 2.32% in Q3, FY 2015-16 as against 2.25%
in Q3, FY 2014-15.
 Non-interest Income increased from Rs.422 crore in Q3, FY 2014-15 to
Rs.551 crore in Q3, FY 2015-16 (up 29% y-o-y).
 Return on Average Assets (RoA) annualised stood at (0.16) % in Q3, FY
2015-16 as against 0.44% in Q3, FY 2014-15.
 Capital Adequacy Ratio (Basel III) stood at 10.91% as at 31.12.2015 as against 10.46% as at 31.12.2014.

Snap Shot of Performance
(` Crore)
Parameter 31.12.15 31.12.14 Growth (%)
Global Deposits 255893 251469 2
Global Advances 208194 186630 12
Global Business 464087 438099 6
Gross NPA 9603 6724 43
Net NPA 6210 4370 42
Gross NPA Ratio (%) 4.61 3.60
Net NPA Ratio (%) 3.04 2.38
Provision Coverage Ratio (%) 58.67 62.96
Book Value per Share (`.) 205.13 201.84
Capital Adequacy Ratio (Basel II) (%) 11.21 10.67
Capital Adequacy Ratio (Basel III) (%) 10.91 10.46
Nine months period of FY 2015-16 Vs
Nine months period of FY 2014-15
Parameter Dec 15 Dec 14 Growth (%)
Net Profit 515 1106 -ve
Operating Profit 3194 2806 14
Interest Income 17515 15810 11
Other Income 1667 1316 27
Net Interest Income 4523 4097 10
Cost to income Ratio% 48.39 48.16
Earnings per Share (`.)
(Annualised) 10.37 23.61
NIM (%) 2.34 2.43

Quarterly Comparison

(` Crore)

Parameter Dec 15 Dec 14
Net Profit -ve 305
Operating Profit 929 838
Interest Income 5499 5637
Other Income 422 551
Net Interest Income 1322 1516
NIM (%) 2.32 2.25
Cost to income Ratio (%) 55.02 52.01
Earnings per Share (`.) (Annualised) -ve 19.53

PROFITABILITY RATIOS (Nine month period):

 Net profit stood at Rs.515 crore for 9 months in FY 2015-16 as against
` 1106 crore for 9 months in FY 2014-15 ((53) % y-o-y).
 Operating profit stood at Rs.3194 crore for 9 months in FY 2015-16 as against
Rs.2806 crore for 9 months in FY 2014-15 (14% y-o-y).

 Priority Sector Credit increased by 14.47% from ` 53099.85 crore as at
31.12.2014 to ` 60781.61Crore as at 31.12.2015 forming 37.50% of ANBC.
 Total Agricultural Credit increased by 8.81% from ` 23792.25 crore as at
31.12.2014 to ` 25887.63 crore as at 31.12.2015, forming 15.97% of ANBC.
 Credit to Micro and Small Enterprises (MSE) increased by 29.39% from
` 17794.28 crore as at 31.12.2014 to ` 23283.22 crore as at 31.12.2015.
 Credit to Weaker Section increased from ` 14245.57 crore as at 31.12.2014 to
` 17684.57 crore as at 31.12.2015, forming 10.91% of ANBC.
 Credit to Minority Community increased from ` 8060.48 crore as at
31.12.2014 to ` 9662.41 crore as at 31.12.2015, forming 15.90% of Priority
Sector Credit.
 To assist the farmers in taking up timely agricultural operations and increase
crop production, credit assistance of ` 22093.50 crore has been extended as
on 31.12.2015.
 To augment crop production credit, 7.37 lakhs Syndicate Kisan Credit Cards
have been issued with the credit assistance of ` 7792.58 crore.
 For the rural households, 42656 General Purpose Credit Cards (GCCs) have
been issued amounting to ` 71.57 crore.
 The total outstanding advances to MSME Sector grew by 24.68% from
`21323.64 crore as at 31.12.2014 to `26587.11 crore as at 31.12.2015.
 The total outstanding advances under Retail Credit portfolio grew by 20.93%
from `21090.09 crore as at 31.12.2014 to `25503.13 crore as at 31.12.2015.
 During the year up to 31.12.2015, upgradation of NPAs was ` 1052.89 crore
and recoveries of ` 2018.85 crore was made. Out of which, cash recovery in
NPAs-Domestic was ` 2018.85 crore including cash recovery in Prudentially
written off Accounts amounting to ` 319.16 crore.
 To accelerate recovery performance under NPA, during the current financial
year 3 Bruhat Synd Adalats were conducted. Bank has mobilized 51404
proposals involving one time settlement amount of ` 490.45 crore.


 Bank has opened 137 branches during Q3, FY 2015-16 taking total number of
branches to 3702 as on 31.12.2015 (including a branch in London) comprising
of 1215 Rural, 998 Semi Urban, 813 Urban and 675 Metro branches. Bank
has presence in all the States and 6 Union Territories of the country.
 In commemoration of the 90th Foundation Day, Bank opened 90 branches
across the country on 20.10.2015
 Bank has sponsored 3 RRBs – Prathama Bank, Karnataka Vikas Grameena
Bank and Andhra Pragathi Grameena Bank having a branch network of 1463.
All three RRBs are profit making and have a total business of ` 47462 crore.
 Bank has adopted 26 villages in our Lead Districts across the country for all
round development. An amount of ` 5.20 Crore is being utilized under this

 Bank is convener of SLBC in Karnataka State and in the Union Territory of
Lakshadweep and is taking proactive steps for implementation of Government
 Bank has opened 1.28 lakh Basic Savings Bank Deposit Accounts (BSBDA)
during Q3 FY 2015-16. The balance outstanding overall in 110.84 lakh BSBD
Accounts is `3731.35 crore as on 31.12.2015.
 To promote financial literacy in the villages, 10367 financial literacy
programmes were organized upto 31.12.2015 (from April 2015 to Dec 2015),
in which 4.45 lakh persons were benefitted.
 Bank has opened 39.66 lakh accounts under PMJDY having a balance of
` 720.97 crore as at 31.12.2015. During Q3 FY 2015-16, 0.46 lakh PMJDY
accounts were opened.
 35.27 lakh RuPay Cards have been issued under PMJDY.


 During the period 15.11.2014 to 31.12.2015 under re-launched DBTL, 177.99
lakh credits have been received by our Bank with benefit amounting to
` 390.07 crore credited to beneficiaries’ accounts. During Q3 FY 2015-16,
24.11 lakh credits have been received with benefit amounting to ` 49.75 crore
credited to beneficiaries’ accounts.

 Bank has operationalized 3671 ATMs.
 Bank has issued 4.74 lakh new VISA/Maestro/Rupay/Rupay Kisan, RuPay
Platinum, Mudra, AEPS, RuPay EMV Debit Cards
 The total number of Debit cards issued is 157.61 lakh and Credit cards is
 Bank has installed 2259 POS Terminals.

 Bank has raised `750 crore Basel III Compliant Tier II bonds in December
2015 in addition to `1000 crore raised in earlier quarters during FY 2015-16.
 Bank has obtained permission from Government of India for issue of Basel III
Compliant Additional Tier 1 Bonds to the extent of Rs.1800 Crore.
 Bank has taken shareholders’ approval to raise equity capital up to `2000
crore to augment its capital base by way of Qualified Institutional Placement
(QIP) Issue, Rights Issue, follow on Public Issue or any other mode approved
by Government of India or Reserve Bank of India to comply with Basel-III
norms and cater to its growing business.

 Campaign under Housing Loans and Four Wheeler Loans
Bank has waived 50% of Processing and Documentation charges on Four
Wheeler Loans under SyndVahan Scheme up to 31.03.2016.
 “Mutual Fund Bonanza” campaign
Bank launched “Mutual Fund Bonanza” campaign from 15.10.2015 to
15.12.2015 to increase the base of Systematic Investment Plans (SIP) and to
generate revenue for the Bank from the lump sum investments with all nine mutual fund companies .


 SyndProfessional
Bank extends credit facilities to professionally qualified persons having
professional degree / diploma / certification such as Engineering / Architects
cum builders /Doctors / CAs etc. Loans up to Rs.5 crore is provided at
concessional interest rate.
 SyndSolar
To promote renewable and green energy, Bank has launched a new Scheme
namely “SyndSolar” for financing Off Grid Solar Roof Top Systems as a part of
Home Improvement loan/Home loan provided by the Bank.
 SyndMortgage Scheme modified
Bank has waived obtention of Guarantor/Surety of adequate Net worth
acceptable to the Bank, in respect of SyndMortgage loans against the
mortgage of Residential and Commercial properties only.
 Synd Defence Plan
Bank has extended a special package for Defence Personnel including
offering higher interest rate on deposits and cheaper advances under select
 Synd Swayam-Savings Bank Online Account Opening Service
Keeping in view the gen-Y customers, Bank has initiated digitization of many
services. “Synd Swayam-Savings Bank Online Account Opening Service”
would facilitate customers to open account at ease and convenience by simply
filling their personal data.

Bank recognizes CSR as a tool for improving society & building a sustainable
environment. During the quarter, Bank has undertaken various CSR activities,
including the activities mentioned below:
 Donation of mobility appliances / wheeler chairs to handicapped and
differently abled persons.
 Donation of computers to educational institutions & schools bags to poor
students of Govt. schools.
 Donation of water purifiers, air conditioners and waste disposal units to
 Donation towards construction of toilets as well as replacement of sanitary
pipeline for toilets in Government schools.
 Donation of white canes for blind / visual impaired, as well as tables with
chairs to the Deaf Aid Society.
 Donation to Charitable Trust for cancer check up camps and Sanskriti
Parishad for carrying out free eye operation camp.
 Donation of relief materials to flood victims of Chennai.
 Donation to corporation for waste management under Swachh Bharat Abhiyan.


During the year 2015-16, up to 31st December 2015, Bank has recruited 3426 staff
comprising of 1759 Officers and 1667 Clerks.

 Bank has been awarded “Banking Excellence Award 2015, for the 3rd best
Bank at national level under Public Sector Banks category for the year 2014-
15” by State forum of Bankers Club Kerala.
 Synd e-Passbook wins “SKOCH Award, for India’s Best-2015 in Smart
 Adjudged first under Rajbhasha Kirti Puraskar for the Financial Year 2014-15
among Nationalised Banks and Financial Institutions of Region ‘C’ for
outstanding implementation of Official Language Policy.
 SyndicateBank is one among the Five from Karnataka in Forbes’ 2000 list of
most powerful public companies.
 Our Bank has been awarded the following NPCI Excellence Award for the
year 2015 under Mid-sized Bank Category:
 Winner of NFS ATM Network Performance Award of National Financial
 Runner Up Award for Cheque Truncation System (CTS) Performance.
 Joint Runner Up award for performance in National Automated Clearing
House (NACH)

Bank is in the process of undertaking Business Process Re-engineering in order to
perk up its operations, enhance profitability, unfold potential of human resources
and reduce overall transaction costs of various products & services. The project
covers broadly the following areas:
 Digital Banking
 Sales & CRM
 Human Resource Development

Bengaluru residential market manages to hold steady; Start-ups add fillip to stellar performance in the office market: Knight Frank India

Bengaluru, Jan 28, 2016: Knight Frank India today launched the fourth edition of its flagship half yearly report – India Real Estate. It presents a comprehensive analysis of the residential and office market performance of Bengaluru for the period between July–December 2015 (H2 2015).
Residential Takeaways:-
• Bengaluru remains one of the best performing markets with steady sales; restricted launches have cut down the stress
• The city recorded  a decline of 27% Y.O.Y. in new launches in 2015 – the lowest number of launches in five years
• South Bengaluru witnesses increase in new launches in H2 2015; peripheral locations such as Chandapura, Anekal emerge as upcoming budget destinations
• West Bengaluru emerges as the best performing market with the least number of Quarters to Sell; metro connectivity and lifestyle projects adding to its attractiveness

Bengaluru Residential Market Trend:
Office Takeaways:-

• Bengaluru office market continues to be bullish in its demand with 11.1 mn sqft absorption in  2015, the highest since 2011
• Absorption in H2 2015 increases by 14% YOY; new completions remain steady
• While e-commerce is in the horizon,  IT/ITeS continues to dominate in H2 2015 with 70% absorption
• Peripheral office markets in the South and North witnesses increased occupier interest in H2 2015 owing to dearth of large ready spaces in other prime office markets of the city 

Office New Completions and Absorption:
Speaking about the findings, Satish BN~ Executive Director, South said:
“The Bengaluru residential market remains one of the best performing market in India. Although the residential market did witness some lows with 13% drop in launches YoY, this has in turn helped in bringing down the stress by cutting down the inventory. We presume upward pressure on prices with an expected 7% weighted average price hike in the next six months.
Bengaluru Office market, on the other hand, continues to be bullish in its demand with record high figures since 2011. However, dearth of ready-to-occupy office space is a concern as it is unable to catch up with the quantum of demand, leading to emergence of peripheral locations in the South Bengaluru witnessing occupier interest”.

About Knight Frank:

Knight Frank is a leading independent global property consultancy. Headquartered in London, Knight Frank has more than 13,000 people operating from over 400 offices across 58 countries. These figures include Newmark Grubb Knight Frank in the Americas and Douglas Elliman Fine Homes in the US. At Knight Frank, professionals handle in excess of US$1 trillion (£643 billion) worth of commercial, agricultural and residential real estate annually, advising clients ranging from individual owners and buyers to major developers, investors and corporate tenants.
In India, Knight Frank is headquartered in Mumbai and has more than 1,000 experts across Bangalore, Delhi, Pune, Hyderabad, Chennai, Kolkata and Ahmedabad. Backed by strong research and analytics, our experts offer a comprehensive range of real estate services across advisory, valuation and consulting, transactions (residential, commercial, retail, hospitality, land & capitals), facilities management and project management.

Star Sports Pro Kabaddi signs actor Yash as its brand ambassador

~ The ‘Mr. and Mrs. Ramachari’ star, will be one of the faces of season three of the League which begins on January 30thin Vizag ~

Bangalore, 24th January 2016: Star Sports Pro Kabaddi has witnessed some thrilling edge of the seat action hosting a new and modern avatar of the Indian Sport – Kabaddi. While the first two seasons of Star Sports Pro Kabaddi enthralled the audience across segments, making it the second most viewed sport in the country, a large chunk of the fans comprised of celebrities. Adding to the host of luminaries chanting ‘Le Panga’ across the first two seasons, is upcoming superstar from South India’s movie industry – Yash, who has been signed as one of the brand ambassadors of the league.
Expressing his views, Sanjay Gupta, COO, Star India, said, “The first two seasons of the league saw an overwhelming response from TV viewers, stadium spectators and sports enthusiasts. With season 3, we will scale up our reach and keep raising the league’s value for viewers, players and franchises through high-end production, marketing, communication and grassroots programme. The fast pace and mental agility associated with Kabaddi has gripped people across the country and we, at Star India are delighted that our vision for Kabaddi through Star Sports Pro Kabaddi is shaping up well, with Kabaddi becoming the second most viewed sport in the country, after cricket.”
Kannada actor, Yash, struck the scene with his lead performance in his first solo hit, Modalasala, which turned out to be a blockbuster of the year churning big numbers. The dashing star followed this up with his performance in Rajadhani in 2011, for which he received a lot of critical accolades. His movie ‘Mr. and Mrs. Ramachari’, a 2014 Indian Kannada romance drama film emerged as the highest grossing Kannada film. Yash will be adding to the enthusiasm of millions of kabaddi fans, especially those in Karnataka where the league has been a big hit and there is widespread fan support for the local team.
Excited about his new role, Yash said, “I am extremely happy to be associated with Star Sports Pro Kabaddi and am anxiously awaiting the start of Season 3. Star India has been instrumental in promoting and popularising the sport in this exciting new format. I cannot wait to meet the players and learn some of the tackles and moves from them. The physical and mental agility that these players exhibit is commendable. I am looking forward to seeing them in action on ground from close quarters.”


K.. Madhavan, President – South, Star India said, “The first two seasons of Star Sports Pro Kabaddi were a spectacular success and well received by our regional markets. Kabaddi fans were seen cheering for their local heroes and are anxiously awaiting the upcoming season. Season 3 of the league promises to be only bigger and better and we look forward to this association with Yash.”
Like the last season, this time too, the national anthem’s renditions promise to be a feature on each match day. These will be performed by icons from the film and music industry, sportspersons and local musicians and bands, philanthropists and people who have changed the society for the better. Yash will be performing the National Anthem during one of days of the opening leg of Star Sports Pro Kabaddi in Bengaluru.
Season 3 of Star Sports Pro Kabaddi will reach out to significant clusters of populations in Karnataka through exclusive commentary feed in Kannada along with English, Hindi and Telugu. Star Sports Star Sports Pro Kabaddi will also be broadcasted globally to audience in over 100 countries, including United States, United Kingdom, Middle East and Latin America.
The action begins in Vizag on January 30, with defending champions U Mumba taking on home team Telugu Titans. The playoffs will take place at the Indira Gandhi Indoor Stadium in New Delhi on the March 4 and 5, 2016 with the largest indoor setup in the history of the league.




Madhuloka’s second store opens in BTM Layout 

Bangalore, January 19, 2016 : It was an evening that will be remembered for a while to come. Madhuloka Liquor Boutique opened its second store in BTM Layout today to the delight of liquor aficionados across the city. A brainchild of K S Lokesh, Founder of Madhuloka Liquor Boutique and Enoteca,  the second store of Madhuloka at BTM will retail several varieties of liquor both Indian and international.

Mr.Anil Kumar Shetty, Advocate, Dr.Shimoga Subbanna, Singer inaugurated the store in BTM Layout.

There was an amazing performance by Dr.Shimoga Subbanna and Mr.Kem Brian.
Besides the numerous labels you may look forward to, the décor at Madhuloka is designed to create the right ambience to browse through the various brands.

Madhuloka store in BTM Layout offers beer, brandy, gin, liqueurs, vermouth, whisky, wine, vodka, rum, tequila and agave.

Speaking on the occasion Mr K S Lokesh apprised, “There was a huge demand from our customers to open one more store in BTM Layout. Hence in this store attention has been paid to every detail from the brands to display of bottles. Bangalore has always been a pub capital and people in this city love drinking. This store is to offer the best experience to our customers closer to their home”.





India Electronics Week 2016, inaugurated at BIEC Interest, Innovate and invest in Karnataka; theme for the 3 day event

11th January 2016, Bangalore

India Electronics Week 2016 started at the Bangalore International Exhibition Centre( BIEC) today, where Shri R.V Deshpande, Hon’ble Minister, Large and Medium Scale Industries, Government of Karnataka was the Chief guest along  Mrs. K.Ratnaprabha, Addl Chief Secretary to Govt of Karnataka, Commerce & Ind Dept. and Mr. Arun Sachdeva, Addl Secretary, DeitY, Govt. of India as guests of honour.

Urging the audience to focus on investing not only in Bangalore but also other Business corridors across Karnataka, Sri Deshpande shared that the government is very upbeat to provide support with transparency and ease of going business.  He also emphasized that the government is doing its best to provide infrastructure and other resources to make Karnataka the Go To state for Electronics software and hardware manufacturing.

Speaking to the audience, Mrs. Ratnaprabha said “I compliment EFY, ELCINA and other organisers to have put together such a great show and I wish them great success for the event.” She further added “While Bangalore is the largest contributor to India’s IT solutions and services exports, there is still a lot to be done in the electronics hardware industry. Such events are a great platform for manufacturers, customers and other support groups to come together and work towards growing the business.

Addressing the guests, Vikram Desai, President ELCINA shared “The theme of India Electronics Week 2016 and ELCINA CEO SUMMIT is “Invest in India – the Multi Billion Dollar ESDM Opportunity.”

He further added “The cost of doing business in India in terms of compliance to various laws needs to be brought down to make manufacturing viable and attractive to entrepreneurs. On the other hand, the industry needs to demonstrate risk taking and risk mitigating ability required for investing, while adopting modern management practices and acquiring technologies to bring down the cost of manufacturing”.

Mr. Ramesh Chopra, Executive Chairman, EFY group shared “ India electronics Week has been trying to cover the whole eco-system of the electronics industry and trade in India and fill in the gaps left out by the others.”

He went on to add “Make in India, Incredible India, Smart cities , star-up, e-commerce…all these are surely going to attract lots of people and create new opportunities for young professionals. Already India seems to be doing much better them most other countries in the world, including China USA and Europe, in terms of GPD growth and we are very optimistic that the nos. will only grow in the coming years.”

IEW has for the first time brought together six events together under its umbrella namely; Electronics For You Expo (6th edition), Electronics Rocks (4th edition), Test & Measurement India (5th edition), (1st edition), (1st edition), Raksha India (1st edition).

Another highlight at the event is the defence conference where senior dignitaries from Centre for Artificial Intelligence and Robotics, DRDO, ISRO, HAL and MOE would be participating.

At the popular IOT show the following topics would be discussed;

  • How to take your IoT device from prototype to product
  • Creating the Edge Tier of the Internet of Things with Bluetooth Smart
  • How to take your medical device from idea to regulatory approved product
  • How to make your home smarter, using renewable energy micro-grids
  • The mistakes I made building automotive ADAS, and how you can learn from it

Some of the speakers sharing their knowledge include:

  • Martin Woolley, Technical Program Manager, Bluetooth Special Interest Group (SIG)
  • Yuping Tseng, CTO, ThroughTek
  • Dr Vijay Mishra, CTO, CeNSE – IISc
  • Srinivasa Moorthy, CEO, Andhra Pradesh Electronics & IT Agency
  • Vinay Chadha, entrepreneur, GVC Systems

Special workshops will be held during 12th and 13th covering interesting subjects from “how to build a keyless start system for the cars to designing and learning the art of 3D printing!

At the Get funded session on 12th Jan, experts will share their experiences and thoughts on how to make ideas and product into a success business model.

Startups such as Wagr: monitor & location tracker for pet dogs, Portuspine: wearable device to help working professionals who sit more than six hours a day to improve their posture etc. will be pitching to VC’s their ideas and business plans.

Some of the investors expected at the event are:

Abhishek Surendran; VC at Exfinity Venture Partners. Ticket size is US$ 1 million per startup.

A R Jayakumar; is the CEO of KITVEN fund. He handles Karnataka Semiconductor Venture Capital Fund (KARSEMVEN Fund), a SEBI registered Venture Capital Fund with target corpus of INR 96.15 crore.

Vikram Vaidyanathan; Managing Director, Matrix Partners India. Matrix Partners India has about INR 3000 crores under management and invests in companies primarily targeting the Indian market.

It was also shared that Govt. of Karnataka and Dept. of ITBT (Information Technology, Bio-technology and Science & Technology) has a Karnataka ESDM (Electronic System Design & Manufacturing) policy in place. They have recently announced the Karnataka start up policy which can be found


Round up of the year 2015 and outlook of 2016 for real estate sector

Response from Mr.Suresh Hari, Secretary, CREDAI Bengaluru


Year 2015 has come to a close and the overall market can be considered as moderate.  People who stayed invested will be the winners during this period, for the raise is steady and also the demand has not been fully met. 

During the year many initiated developments that have helped the sector look forward to a greater growth had happened.  One of the prime movers will be the Metro connectivity across all four lines.   During mid 2016 the effort of connectivity will be felt and one should look for opportunity of pick in these sectors. The second phase of connectivity will see extended areas of Metro connectivity picking up.

As regards policy initiatives, the introduction of RERA bill and Land Acquisition bill will mark marked shift in the way the Industry progresses?  The members affiliated to the Association have welcomed this move and have already aligned in line with the proposed regulations. The Industry expects fair playing field for all concerned.  The acquisition act need to look at more realistically on the market mechanism.

The Industry had placed certain important submission to both State and Central Governments.  Rationalizing existing legislations, in order to make ‘ease of doing business’ is on important request by the Industry.  Smart City and REITS policies will have positive effect on the Industry.  Also the relaxation of FDI norms will certainly boost the fund flow into the sector. 

The Industry expects better fund at manageable cost and also customer getting competitive interest from Banks for their borrowings.  The Industry has been seeking simplified but effective ‘Single window clearances’ for the projects for a long time. The time is ripe to implement this long standing demand from us.  Faster clearances translate into better cost management which in turn benefits the buyers.  If the ‘housing for all by 2022’ has to be achieved, the Industry’s genuine demands need to be addressed.

For a real home user, the areas listed are all good and one should choose accordingly to their work area comfort. 

Response from Mr.Om Ahuja, CEO, Residential, Brigade Group
In 2015, Bangalore become the best city nationally on following fronts:

In this fiscal, Bengaluru city takes the lead compared all other cities of India on four fronts (1) Best City in terms of Office Leasing – Demand of Office space is the best in India (2) Best City in terms of Residential Sales – Number of Units sales has exceeded compared to Delhi NCR & Mumbai MMR (3) Best City in terms of Job Creation – In the last four years, Bengaluru city has leased over 12-13 mn sq ft of office space and thumb rule of every 100 square feet generates one job, over 1.2 mn new jobs are generated every year in the city (4) Best city in terms of Affordability – Cost of living is far more affordable when compared to cities like MMR & NCR. For example, apartment price per square feet is cheaper when compared to Thane (suburb of Mumbai) and Pune city. Bengaluru continues to be the best destination for doing business, attracting talent and above all being cosmopolitan is it biggest advantage.

–      Highest commercial leasing – over 13 mn sq ft leased

–      Top city for Residential Demand – over 60,000 units sold

–      Start-up capital of India

–      Only affordable metro city of India

The Government of Karnataka has done commendable job in uplifting the standard of living by introducing consumer friendly policies and providing affordable houses to masses. Very few cities in India have the possibility that fresh employed individuals can afford homes within 3 years of starting the career.  With consumer friendly policies, Bengaluru provides opportunity to homebuyer opportunity to buy home between Rs.4,000/- to Rs.7,000/- per square feet from A Grade developer within the city limits, which is not possible in any other Metro city of India. 

Industry is optimistic that Government of Karnataka will help these cities to grow on following fronts by working on following initiatives:

City     Key Challenges           Government Initiatives that can boost further growth in the city 

Bengaluru        –         Strengthen Public Transport

–          Water Supply

–          24 x 7 Electricity

–         Garbage Disposal & City Cleanliness

–          Single Window Clearance       Metro Phase I full roll early 2016 out will bring lot of relief to the common man in the city . Metro connectivity to Whitefield, Airport & Electronic City will bring considerable relief to common man and reduce number of vehicles in the city and improve the environment and pollution scenario.

Many parts of the city still survive on water tankers. Government can bring in industry friendly policies for initiating PPP projects on creating structured process for water supply from the reservoirs neighbouring the city. 

It’s bare minimum that any global city needs to grow. Evaluate the possibility of ensuring the industry/residents are not at inconvenience of bearing further costs for activating generators.

Many steps have been initiated but more capacity addition will help in making the waste convert to electricity and solve multiple problems in the city. Recent imitative of TenderSure is a great initiative by Government and needs to be scaled up further to bring Bangalore right at the top for being the best organized city in India.

Karnataka Government is known for many firsts in terms of polices. Bengaluru can be the first city to introduce single window clearance for Developers to help save costs and improve delivery timelines.



Unique Human Rights Welfare Association Trust (R) celebrated its 3rd Grand Function of “Service to Hospitality”,  the social service programme.


Drawing competation to kids.


Homeopathi treatment for diabetic patients.









Rangoli competation  for ladies.


Free Clothes and fruits for Kids.