Latest news with #Chatterjee
India Gazette
a day ago
- Business
- India Gazette
Tech-savvy construction firms attract global interest as India goes big on infrastructure
New Delhi [India], June 1 (ANI): As government-led infrastructure initiatives reshape India's urban and industrial landscape, tech-savvy Indian construction players are drawing the attention of global companies involved in the planning, designing, building and managing of infrastructure and real estate. The global players are increasingly deploying their capital and establishing Indian arms to cater to the needs of the infrastructure and construction sector. 'India is a market on today's date that cannot be ignored globally because, in a construction aspect, India is the third largest global construction market. So that is something huge,' said Nirmalya Chatterjee, India head of Nemetschek, a Germany-based company. 'Hopefully, in the next two years' time, we will be the third largest economy in the world too. So this is a scale of India as a market. Quite obviously, it has a huge, huge potential,' said Chatterjee. India has embarked on an ambitious journey to revolutionise the country's infrastructure landscape, aiming to bolster economic growth, enhance connectivity, and improve the quality of life for its citizens. With a focus on modernising transportation networks, upgrading urban amenities, and expanding digital infrastructure, the government has launched several transformative initiatives, with Capex Expenditure of Rs 11.21 lakh crore (3.1 per cent of GDP) earmarked in the financial year 2025-26. He further added that construction is the second-largest sector GDP contributor after agriculture, and that makes it a centre of attraction for global companies. 'So construction is a huge kind of potential. Technology companies, engineering companies, overseas companies - all are looking into this market and how they can be a part of this growth journey. And this momentum is going to continue in the coming day's,' he added. The total infrastructure investment in India has significantly increased, with public and private sector contributions shaping the growth trajectory. India's total infrastructure spending has grown exponentially, with budget allocations rising to Rs 10 lakh crore in 2023-24, as per the official figures. However, the fragmented nature of the construction markets is causing a challenge, despite huge potential. Another major challenge for global companies is the fear of escalating expenses tied to new technology; however, Chatterjee says that the conditions are the states and educational institutions are ramping up the infrastructure projects, the German compay official said that they have been able to secure projects from various states such as Maharashtra, Andhra Pradesh, Tamilnadu, IITs and other universities, demonstrating the wider adoption of global technology. As per the credit rating agency ICRA Indian construction industry is expected to report a year-on-year growth of 8-10 per cent in operating income (OI) for the FY 2026, supported by an adequate order book position, on the low base of FY2025. ICRA estimates the aggregate order book/OI for its sample set of entities1 at 3.5 times as of March 31, 2025, reflecting healthy growth prospects and revenue visibility. It forecasts the operating margin of the players to be steady at 10.5-11.0 per cent for FY2025 and FY2026. (ANI)
Mint
a day ago
- Business
- Mint
Tech-savvy construction firms attract global interest as India goes big on infrastructure
New Delhi [India], June 1 (ANI): As government-led infrastructure initiatives reshape India's urban and industrial landscape, tech-savvy Indian construction players are drawing the attention of global companies involved in the planning, designing, building and managing of infrastructure and real estate. The global players are increasingly deploying their capital and establishing Indian arms to cater to the needs of the infrastructure and construction sector. "India is a market on today's date that cannot be ignored globally because, in a construction aspect, India is the third largest global construction market. So that is something huge," said Nirmalya Chatterjee, India head of Nemetschek, a Germany-based company. "Hopefully, in the next two years' time, we will be the third largest economy in the world too. So this is a scale of India as a market. Quite obviously, it has a huge, huge potential," said Chatterjee. India has embarked on an ambitious journey to revolutionise the country's infrastructure landscape, aiming to bolster economic growth, enhance connectivity, and improve the quality of life for its citizens. With a focus on modernising transportation networks, upgrading urban amenities, and expanding digital infrastructure, the government has launched several transformative initiatives, with Capex Expenditure of ₹ 11.21 lakh crore (3.1 per cent of GDP) earmarked in the financial year 2025-26. He further added that construction is the second-largest sector GDP contributor after agriculture, and that makes it a centre of attraction for global companies. "So construction is a huge kind of potential. Technology companies, engineering companies, overseas companies - all are looking into this market and how they can be a part of this growth journey. And this momentum is going to continue in the coming day"s," he added. The total infrastructure investment in India has significantly increased, with public and private sector contributions shaping the growth trajectory. India's total infrastructure spending has grown exponentially, with budget allocations rising to ₹ 10 lakh crore in 2023-24, as per the official figures. However, the fragmented nature of the construction markets is causing a challenge, despite huge potential. Another major challenge for global companies is the fear of escalating expenses tied to new technology; however, Chatterjee says that the conditions are the states and educational institutions are ramping up the infrastructure projects, the German compay official said that they have been able to secure projects from various states such as Maharashtra, Andhra Pradesh, Tamilnadu, IITs and other universities, demonstrating the wider adoption of global technology. As per the credit rating agency ICRA Indian construction industry is expected to report a year-on-year growth of 8-10 per cent in operating income (OI) for the FY 2026, supported by an adequate order book position, on the low base of FY2025. ICRA estimates the aggregate order book/OI for its sample set of entities1 at 3.5 times as of March 31, 2025, reflecting healthy growth prospects and revenue visibility. It forecasts the operating margin of the players to be steady at 10.5-11.0 per cent for FY2025 and FY2026. (ANI)
Time of India
3 days ago
- Business
- Time of India
LTIMindtree's Debashis Chatterjee retires early, Venu Lambu takes charge
Bengaluru: LTIMindtree's CEO Debashis Chatterjee oversaw the complex merger of two firms with distinct identities. This merger allowed the company to shed its mid-tier image and break into the tier-1 Indian IT services league. Chatterjee was entrusted with the crucial task of bridging two firms marked by cultural asymmetry, bringing them into a cohesive and future-ready IT firm. Popularly known as DC, he embraced the challenge head-on. As CEO and MD of Mindtree from 2019 until its merger with L&T Infotech in November 2022, he then took the helm of the newly formed LTIMindtree. Under his leadership, the company rose to become India's sixth-largest IT services firm by revenue, leveraging LTI's engineering DNA with Mindtree's experience DNA to create a stronger moat by building newer capabilities, client relationships, talent, and go-to-market (GTM) strategy. To reposition the firm in the eyes of clients, DC created the LTMOne strategy focused on creating a strong GTM and account mining, cost synergies, and prudent capital allocation to drive profitable growth. After spending over 35 years in the IT sector , Chatterjee opted to retire as the CEO of LTIMindtree due to personal reasons, leaving behind a strong growth engine poised to thrive in the digital marketplace. In fact, he grew LTIMindtree's banking, financial services (BFSI) practice, and technology businesses each into the $1 billion revenue club. In his previous role, Chatterjee led the BFS practice for Cognizant as SVP and global head until 2007. He was also instrumental in growing the infrastructure services practice to a $1 billion mark. DC was employee no.1 at Cognizant's development centre in Kolkata, which was incubated at his home office there. Ramkumar Ramamoorthy, partner at Catalincs and former Cognizant India CMD, said, "DC's stellar leadership was an inspiration for a generation of mid-sized IT services companies to breach the magical billion dollars in revenue and compete with the tier-1 players. Until then, the separation between the tier-1 and mid-sized companies was quite stark, with dozens of promising companies getting acquired before they crossed the half-a-billion or billion-dollar revenue mark. " He laid the spadework to envision the enterprise of tomorrow. Today, LTIMindtree has over 100 Fortune 500 companies as customers, participating aggressively in vendor consolidation deals, timing its strategic pivots, and turbocharging its portfolios, especially as it gears up to touch a near-term $5 billion goalpost. Currently, LTIMindtree has $4.5 billion in revenue, with over 700 clients and 84,000 employees. Under his and the new CEO Venu Lambu's watch, LTIMindtree won its largest deal ever, worth $450 million, from US food processing and nutrition company Archer Daniels Midland (ADM). A few months ago, LTIMindtree bagged an over $200 million deal, which is a combination of renewal and new scope. LTIMindtree's strategy is built on accelerating momentum in core verticals like BFSI and technology, expanding its Fortune 500 client base, strengthening horizontal capabilities in data and analytics, and deepening its hyperscaler partnerships. He retires from the firm, leaving behind an ambitious goal. LTIMindtree aims to more than double its revenue, targeting $10 billion by the 2031–32 financial year. In fact, its chairman SN Subrahmanyan, in a letter to shareholders in the 2024-25 annual report, praised Chatterjee's leadership, saying, "I would like to take this opportunity to acknowledge the tremendous leadership of Debashis Chatterjee (DC), under whose vision and guidance LTIMindtree has broken the shackles of being a mid-tier Indian IT company and transformed into a global IT services provider, particularly through the successful execution of the complex merger of erstwhile LTI and Mindtree. "
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Business Standard
3 days ago
- Business
- Business Standard
Debashis Chatterjee retires, Venu Lambu named CEO & MD of LTIMindtree
IT services firm LTIMindtree's Chief Executive Officer (CEO) and Managing Director (MD) Debashis Chatterjee has retired due to personal reasons, the company said during its 29th annual general meeting (AGM) on Friday. CEO-designate Venu Lambu has been appointed CEO and MD with effect from Saturday (May 31). 'As I reflect on my journey with LTIMindtree, I am filled with humility and pride. Leading this organisation from its formative days has been an honour, and I take immense satisfaction in the foundations we've built for future success. I am confident that under Venu's capable leadership, LTIMindtree will continue to thrive and reach new milestones,' said Chatterjee in a statement. Chatterjee joined Mindtree as CEO and MD 2019, until its merger with L&T Infotech in 2022. After the merger, he continued to be CEO and MD of the merged entity. 'Under his leadership, LTIMindtree became India's sixth-largest IT services firm by revenue, effectively integrating the strengths of both the legacy organisations to enhance service offerings and drive innovation,' said the company in a statement. SN Subrahmanyan, Chairman, LTIMindtree, said, 'It is with deep appreciation that we bid farewell to Debashis Chatterjee, whose leadership has been instrumental in propelling LTIMindtree to new heights. He is a fantastic person with immense knowledge and intellectual depth. It was a pleasure to work with him. We are grateful for his invaluable contributions and wish him continued success in all his future endeavours." Chatterjee has been working with Lambu for a seamless leadership transition since the beginning of the year. Before joining LTIMindtree, Lambu served as CEO of Randstad Digital, the $3 billion digital arm of Randstad. He is also not new to the company, as he worked with it during 2020-2023, when he led the global markets.
Hindustan Times
3 days ago
- Entertainment
- Hindustan Times
Review: Soumitra Chatterjee and his World by Sanghamitra Chakraborty
A few weeks before the release of Apur Sansar (The World of Apu, 1959), directed by Satyajit Ray, Charlie Chaplin's Limelight was re-released in Calcutta (now Kolkata). A large hoarding in the city displayed the film's poster. The actor Soumitra Chatterjee, who was making his silver screen debut with Ray's film, would 'admire this larger-than-life poster as he passed the area' on his way to work, writes journalist Sanghamitra Chakraborty. 'One evening… unmindfully looking up to get a glimpse of the Limelight poster… he got the shock of his life.' Chaplin's face had been replaced by his own. 'It was a poster of Apur Sansar.' This remarkable debut launched Chatterjee into a career that would make him one of the most important actors of the 20th century. Chakraborty's deeply researched biography, Soumitra Chatterjee and his World, explores all these different aspects of his life and career. Through in-depth interviews with his family, friends and colleagues, archival research (including Chatterjee's personal journals) and an analysis of his work, Chakraborty creates a compelling portrait of a complicated human being. Instead of slipping into the morass of a hagiography, which is common with celebrity biographies in India, Chakraborty explores even the less-than-complimentary aspects of her subject's life, such as his extramarital affairs and some dubious career decisions. However, she does this with a sort of empathy that does not in any way diminish Chatterjee, instead revealing him to be only too human. Though Chatterjee has been the subject of several biographies already, it is perhaps safe to say that this book is by far the most detailed and engaging one yet. Future biographers or anyone commenting on Bengali cinema, will have to take it into serious account. Soumitra Chatterjee and his World is divided into 10 parts, each exploring different aspects of its subject's life, such as his family and early years outside Calcutta, his college and university education, his early days in theatre (under the tutelage of the notable thespian Sisir Kumar Bhaduri), his Coffee House friends and literary pursuits, his committed leftist politics and his relationship with this wife Deepa, a talented badminton player. A significant portion is, obviously, dedicated to his relationship with Ray. The author writes several accounts of how Chatterjee prepared for the different roles he played in Ray's films, such as a hot-headed taxi driver (Abhijan, 1962), an aspiring 19th-century writer (Charulata, 1964), a beleaguered village priest (Ashani Sanket, 1973) or a sharp private investigator (Sonar Kella, 1974 and Joy Baba Felunath, 1979). These chapters also bring out the differences between the two men. The book is full of anecdotes that might surprise even the most devoted cinephile. For instance, writing about why Chatterjee did not collaborate with Ritwik Ghatak, one of the most celebrated art house Bengali film directors in the 1960s, Chakraborty describes an incident when the actor and the director came to fisticuffs. Quoting from an interview of Chatterjee, Chakraborty describes a public meeting where Ghatak and Chatterjee were guests. Quite characteristically, Ghatak turned up inebriated and started abusing Ray. 'I did not get provoked since I did not hold a brief to defend Ray,' says Chatterjee. 'Maybe he got frustrated at my nonchalance and he threw a swear word at me.' Flying into a rage, Chatterjee held Ghatak by the collar and landed a blow on his face. From the vantage point of half a century, it is somewhat amusing to witness, through Chakraborty's narration, two revered figures of Bengali cinema engaging in such behaviour. Such incidents remain with the reader long after the book has been put away. Chakraborty also analyses Chatterjee's work with filmmakers like Tapan Sinha, Asit Sen, Ajoy Kar, Tarun Majumdar, Dinen Gupta and Saroj De, locating it within the specific context of Bengali cinema. The sharp writing provides context to the cinema of the 1930s-40s, which Chatterjee watched while growing up, as well as his contemporary films. She also relates Chatterjee's complex relationship to Bengali cinema's reigning heartthrob, Uttam Kumar. While Chatterjee was a self-proclaimed Uttam Kumar fan, there was also considerable rivalry between the two, especially during a period of labour unrest in the industry in the late 1960s, when they found themselves in opposing camps. Some of this owes a debt to film scholar Sharmistha Gooptu's history of the Bengali film industry, Bengali Cinema: An Other Nation (2011). Though Chakraborty quotes from Gooptu, the book under review would have benefitted from more engaged editing, which would have ensured more rigorous citations. The book could have also included Chatterjee's family tree, bringing out his exact relation with such illustrious figures as poet and film critic Sourindra Mohan Mukhopadhyay, singer Suchitra Mitra or the freedom activist Jatindranath Mukherjee, better known as Bagha Jatin. Perhaps, these will be addressed in the next edition. Much of the writing on Indian cinema, both scholarly and popular, has focused on Bollywood. Besides Gooptu's groundbreaking work, there is very little scholarship on Bengali popular cinema. Film scholars and historians writing on Bengali cinema have focused mostly on Ray or his art house contemporaries, Mrinal Sen and Ritwik Ghatak, or more recently, Rituparno Ghosh. Sayandeb Chowdhury's Uttam Kumar: A Life in Cinema and Maitreyee B Chowdhury's Uttam Kumar and Suchitra Sen: Bengali Cinema's First Couple are rare exceptions. Chakraborty's book, therefore, explores new ground. It will hopefully be an inspiration to more scholars and writers to examine the history of a remarkable film culture. Uttaran Das Gupta is an independent writer and journalist.
