Latest news with #GauravSharma
Times of Oman
3 days ago
- Business
- Times of Oman
New India Assurance Co. Ltd., Oman Honored with Times of Oman Best Brand in Customer Experience Award
Muscat: New India Assurance Co. Ltd., Oman, has been recognised with the prestigious Times of Oman Best Brand in Customer Experience Award in the insurance category at the Oman CX Awards 2025. This distinguished accolade highlights the company's unwavering commitment to delivering exceptional service and customer satisfaction across the Sultanate. New India Assurance, Oman is operated by M/s. Abdul Aziz & Bros LLC, under the visionary leadership of Mr. Majid Abdul Rahim Jaffer Al Bahrani. Expressing his gratitude, Mr. Majid extended heartfelt thanks to all customers and partners for voting New India Assurance as the Best Brand in Customer Experience under the Insurance category. The award ceremony was graced by His Highness Sayyid Mohammed Bin Salem Al Said, who served as the chief guest, alongside Mr. Ahmed Essa Al Zadjali, CEO of Muscat Media Group. Mr. Gaurav Sharma, Chief Operating Officer of New India Assurance, Oman Operations, received the award on behalf of the company, joined by his dedicated team. Commenting on the achievement, Mr. Gaurav Sharma stated, "This award is a testament to the exceptional service delivered by our team. We are deeply honored and extend our sincere appreciation to all our valued customers and partners for their continued trust and support." The Oman CX Awards 2025 celebrated excellence across 35 product and service categories, with winners determined through nationwide consumer voting. The event underscored the critical role customer experience plays in brand reputation and long-term success. As Mr. Ahmed bin Essa Al Zadjali noted, 'Customer experience is no longer a support function—it is now central to brand reputation and long-term success.' This recognition follows a series of customer-centric innovations by New India Assurance, including the launch of a state-of-the-art Customer Care Centre in December 2024, offering direct call lines and WhatsApp support to enhance client accessibility and responsiveness. As it celebrates its 50th year of operations in Oman, New India Assurance continues to set industry benchmarks, reflecting the enduring trust and confidence of its customers.
Biz Bahrain
5 days ago
- Business
- Biz Bahrain
Investcorp Announces Sale of Citykart to TPG NewQuest and A91 Partners
Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. The operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR 8.8 billion (about US $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management levels. Furthermore, Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory processes. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomizes our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.' Yusef al Yusef, Global Head of Distribution atInvestcorp, commented: 'Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.' Other recent realizations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors.
Mid East Info
5 days ago
- Business
- Mid East Info
Investcorp Announces Sale of Citykart to TPG NewQuest and A91 Partners - Middle East Business News and Information
Manama, Bahrain,May 2025 — Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. The operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR 8.8 billion (about US $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management levels. Furthermore, Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory processes. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomizes our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.' Yusef al Yusef, Global Head of Distribution atInvestcorp, commented: 'Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.' Other recent realizations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors. About Investcorp: Investcorp is a global investment manager specialising in alternative investments across four asset classes: Private Equity (Mid-Market Buyouts, Growth Investments, and GP Staking), Real Assets (Infrastructure and Real Estate), Credit (CLOs, Broadly Syndicated Loans & Structured Credit, and Middle-Market Direct Lending), and Liquid Strategies (Absolute Return Investments and Insurance Asset Management). Since our inception in 1982, we have focused on generating attractive returns for our clients and seeking to create long-term value in our portfolio companies by adopting a disciplined investment process, employing talented professionals, and utilizing the resources of a global institution with an innovative approach. We invest capital in our products and strategies, aligning interests with our clients and other stakeholders. We pursue sustainable value creation through our investments and in the communities in which we operate and take pride in partnering with clients to deliver tailored solutions for their needs. Today, Investcorp manages $55 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.
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Business Standard
17-05-2025
- Climate
- Business Standard
Noida society ravaged by storm: Shop flies off, high-rise windows collapse
A sudden heavy dust storm hit Delhi-NCR on Friday evening, causing widespread damage across Noida and surrounding areas. Residents witnessed scenes of destruction as windows shattered, doors collapsed, and air conditioner units were torn from their mounts due to the gusty winds in JP Aman Society in Sector 151. A video widely circulated on social media captured the storm's severity, showing a shop near the society being blown away 'like a house of cards' in the high-speed winds. The clip, shot by local residents, shows near-zero visibility due to dense dust clouds before the shop structure is uprooted entirely. #नोएडा में धूलभरी आंधी ने मचाई तबाही। #Jaypee #Aman #सोसायटी के बाहर बना Safal Store ताश के पत्तों की तरह उड़ गया #Noida #noidagbnup16 #NoidaAuthority — Gaurav Sharma Advocate(मोदी जी का परिवार) (@gauravBJPGBN) May 17, 2025 In the society, several residential buildings suffered extensive damage. Parked vehicles were hit by falling debris and tree branches, while entry gates were reportedly torn off. Residents also reported that heavy AC units crashed down from building exteriors. Watch the devastation caused by the storm in Noida. This video is from JP Aman Society, where even the windows and doors of the flats were torn off. Homebuyers are furious, alleging extremely poor construction quality in the building of these flats. — Kunal Verma (@thekunalverma) May 17, 2025 The storm extended its impact to Greater Noida's Jewar area, where trees and electricity poles were uprooted in villages like Salarpur, Atta Gujran, Kanarsi, Junedpur, and Bilaspur. Multiple areas experienced power outages, and traffic disruptions were reported along the Noida-Greater Noida Expressway until emergency teams cleared the roads. Delhi sees temperature dip, pollution persists While the sudden storm brought brief relief from the heat, it failed to improve the region's air quality. According to the India Meteorological Department (IMD), wind speeds reached 40–50 km/h, with light rainfall recorded across Noida, Ghaziabad, and Faridabad. Delhi's average Air Quality Index (AQI) stood at 278 — still in the 'poor' category. The Commission for Air Quality Management (CAQM) implemented Stage 1 of the Graded Response Action Plan, citing meteorological conditions as a barrier to expected air quality improvement. Wazirpur recorded the highest PM10 concentration at 847 µg/m³, over eight times the safe limit. Anand Vihar, Rohini, and Bawana also reported severe pollution levels. Delhi's power demand hits seasonal peak Despite cooler temperatures, Delhi recorded its highest peak power demand of the summer at 6,867 Mw on Friday afternoon, according to the State Load Dispatch Centre. Officials expect this figure to exceed 9,000 MW in the coming weeks, surpassing last year's record of 8,656 MW. More rain forecast in coming days The IMD has predicted thunderstorms and strong winds for Saturday, with further relief expected from May 19 to 22. Daytime temperatures are forecast to range between 25°C and 38°C, with rain likely to gradually reduce both heat and pollution levels. Rainfall recorded in different areas of Delhi: - Ayanagar: 7.2 mm - Ridge: 3 mm - Pusa: 2.5 mm - Pitampura: 2 mm - Lodi Road: 1.3 mm - Safdarjung: 1.4 mm - Najafgarh, Narela: 1 mm - Palam: 0.3 mm Meanwhile, officials have urged caution as strong surface winds and further weather disturbances are expected through the weekend.
Time of India
14-05-2025
- Time of India
Thaw in war but not travel: Tourists skip Himalayan belt, take south dive for holidays
Lucknow: After the recent war-like atmosphere along the India-Pakistan border, travel patterns are witnessing a shift this vacation season. Tourists are staying away from the Himalayan belt, including Himachal Pradesh, Ladakh, and Jammu and Kashmir. In contrast, southern destinations such as Munnar, Ooty, and Wayanad, as well as the scenic Kerala backwaters, are gaining popularity. Island getaways like Lakshadweep and the Andaman & Nicobar Islands are also witnessing a significant surge in tourist bookings. Tension between India and Pakistan in the wake of Pahalgam terror attack has resulted in a surge of cancellations and a marked drop in bookings across Himachal's popular destinations, including Shimla, Manali, and Dharamshala. A managing director in a destination management company, Fuzail Ahmad, said, "There is a sharp drop in bookings after the recent border tensions. Many tourists cancelled their trips to the Himalayan destinations like Kashmir and Himachal Pradesh. However, a number of travellers are now turning to popular South Indian spots like Munnar, Ooty and Wayanad, which are being seen as a safer option this vacation season."Gaurav Sharma, a Lucknow-based travel operator, said, "We've seen at least a 30–40% rise in inquiries for South Indian destinations in the last two weeks. Tourists are not willing to take chances with regions they perceive as unstable, even if those areas are actually safe. Perception is playing a big role this season."Ashwini Nagar, 39, a manager in a private firm, stated, "We were planning a family trip to Himachal in the upcoming vacation. But due to cross-border tension, we are dropping the plans."Rajveer Sonkar, 46, a businessman from Lucknow, said, "We only get time during this season as the schools of our children close for summer vacation, and my business also slows down. We planned our vacation in Kashmir this time, which we are shifting to Munnar now."Many tourists have cancelled their vacation plans altogether, citing safety concerns and uncertainty following the recent the peak summer travel season underway, tourism stakeholders in the north are hoping for improved conditions, while southern states are preparing to welcome a larger share of holidaymakers.
