Sony Pictures appoints Harsh Deep Chhabra as head of strategy, new business

By Our Correspondent
Mumbai, May 2, 2026

Sony Pictures Networks India (SPNI) has appointed Harsh Deep Chhabra as head of strategy and new business, the company said on Saturday.

Chhabra, who has more than 20 years of experience across the media and digital sectors, will report to SPNI Managing Director and Chief Executive Gaurav Banerjee. He joins from Godrej Consumer Products Limited, where he served as global media head.

In his new role, Chhabra is tasked with shaping the broadcaster’s long-term strategic direction and identifying new growth opportunities. He will also lead the evaluation and incubation of new business units to enhance cost efficiency and accelerate revenue growth.

“Chhabra brings a powerful blend of strategic acumen and deep industry expertise across media, advertising, and digital ecosystems,” Banerjee said in a statement. “His ability to translate insights into decisive, high-impact strategies will be instrumental as we accelerate our growth agenda.”

Before his stint at GCPL, Chhabra was a senior vice president at WPP-owned Mindshare, where he managed the Unilever account for South Asia. His previous experience includes roles at Zee Entertainment, Turner International, and Radio City.

“In today’s rapidly evolving media landscape, the opportunity lies in combining strategic foresight with agile execution to unlock new growth avenues,” Chhabra said. “I look forward to advancing enterprise priorities, building future-ready capabilities, and identifying innovative opportunities that deliver sustained business impact.”

Sony Pictures Networks India appoints Harsh Deep Chhabra as Head – Strategy & New Business

Press Release
Mumbai, May 02, 2026:

Sony Pictures Networks India (SPNI) has announced the appointment of Harsh Deep Chhabra as Head – Strategy & New Business. In this role, he will report to Gaurav Banerjee, Managing Director and CEO, SPNI, and work closely with the leadership team to shape SPNI’s long-term strategic direction, drive enterprise-wide priorities, and identify new growth opportunities across a rapidly evolving media landscape.

Harsh Deep will be responsible for partnering with business units to deliver high-impact initiatives that accelerate topline growth and enhance cost efficiency. He will also lead the evaluation and incubation of new business opportunities aligned with SPNI’s long-term growth agenda.

With over two decades of experience across media, advertising, and digital ecosystems, he brings a strong blend of strategic thinking and executional expertise. He joins SPNI from Godrej Consumer Products Limited (GCPL), where he served as Global Media Head, driving integrated media strategies and building impactful brand narratives at scale.

Prior to GCPL, Harsh Deep was Senior Vice President at Mindshare (GroupM, WPP), wherein he led the Unilever relationship for South Asia at Mindshare Fulcrum and he played a key role in strengthening client partnerships and delivering significant business growth. His career spans leading media owners, including Zee Entertainment, Turner International, and Radio City, as well as global agency networks such as GroupM and Mindshare, giving him a well-rounded perspective across the media value chain.

His expertise spans account management, media planning and buying, analytics, advertising sales, marketing, and investor relations. He has also led several data-driven digital initiatives, leveraging technology and insights to deliver measurable business outcomes.

Comments:

Gaurav Banerjee, Managing Director and CEO, SPNI:

“Harsh Deep brings a powerful blend of strategic acumen and deep industry expertise across media, advertising, and digital ecosystems. His ability to translate insights into decisive, high-impact strategies will be instrumental as we accelerate our growth agenda. I am confident his leadership will unlock new opportunities, strengthen our competitive edge, and create enduring value for the organisation.”

Harsh Deep Chhabra, Head – Strategy & New Business, SPNI:

“I am excited about joining SPNI at such a pivotal moment of transformation. In today’s rapidly evolving media landscape, the opportunity lies in combining strategic foresight with agile execution to unlock new growth avenues. Partnering closely with Gaurav and the leadership team, I look forward to advancing  enterprise priorities, build future-ready capabilities, and identify innovative opportunities that deliver sustained business impact.

HERO MOTOCORP OPENS FY27 STRONG WITH 5.66 LAKH DISPATCHES

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, reported a strong performance in April 2026 with dispatches of 566,086 units as compared to 305,406 units during the same period last year. Domestic retail performance also remained robust during the month, with 552,713* VAHAN registrations indicating growth of ~8 %. 

*Data from VAHAN except Telangana, as on May 1, 2026.

STRONG DOMESTIC MOMENTUM ACROSS CATEGORIES

VIDAHero MotoCorp’s Emerging Mobility business, continued its strong upward momentum, more than doubling dispatches with record year -on -year growth of 129%

Strengthening its commitment to accelerating India’s EV ecosystem, VIDA launched impactful consumer engagement initiatives. In collaboration with Kolkata Knight Riders (KKR), the “6 for 6” campaign pledged the installation of a 6kW fast charger for every six hit by the team during the season. Additionally, the “Ride Jitna, Pay Utna” Battery-as-a-Service campaign featuring KKR players was launched to deepen consumer engagement with sustainable mobility.

Marking a significant milestone, VIDA entered the Asia Book of Records with a unique campaign that saw a passionate KKR fan cover 10,500 kms on a VIDA VX2 , traversing every host city – setting a record for the longest-ever electric two-wheeler journey

The Company’s ICE segment recorded its highest April dispatch in the post-pandemic period, achieving strong growth with volumes rising by 83% compared to the previous year. Growth was broad-based across Entry, Deluxe, Premium and Scooter segments, reflecting sustained consumer demand and strengthening market presence. Retail performance remained strong across regions further reinforcing Hero MotoCorp’s leadership position. The Company also expanded its Channel presence with 70 new touchpoints, including new Premia outlets, taking the total Premia network to 132 outlets across the country.

Hero MotoCorp also launched a fresh campaign for its Hero Xoom scooter range featuring Ishaan Khatter as the brand ambassador. The campaign targets young urban riders, highlighting speed, agility, style and self-expression.

GLOBAL BUSINESS CONTINUED ITS UPWARD TRAJECTORY 

The Company’s Global Business recorded robust growth with dispatches of 33,653 units.  Strengthening its presence in South America, the Companyhas recently partnered with Quilmotorsas its exclusive distributor in Ecuador to build a future-ready ecosystem – including assembly operations, network development, sales, after-sales service and spare parts distribution in the country. Steady demand for premium motorcycles and scooters continues to fuel strong growth across its key international markets.

Dispatch Data

ParticularsAPRIL’ 26APRIL’ 25
Motorcycles          501,791         286,089
Scooters             64,295           19,317
Total         566,086       305,406
Domestic         532,433         288,524
Exports            33,653           16,882

Hero MotoCorp posts 85% surge in April dispatches

By Our Correspondent
Mumbai, May 1, 2026

Hero MotoCorp dispatched 566,086 units in April, an 85% rise from the 305,406 units shipped during the same month last year. The company’s domestic retail sales, measured by Vahan registrations, rose by approximately 8% to 552,713 units.

In the internal combustion engine (ICE) segment, Hero recorded its highest April dispatch volume since the pandemic, with volumes rising 83% year-on-year. The company stated that growth was distributed across its entry, deluxe, premium, and scooter categories.

To support its premium push, the manufacturer expanded its sales network with 70 new touchpoints, bringing its total Premia outlet count to 132.

Hero’s dispatches of its electric vehicle (EV) brand, Vida, recorded a 129% year-on-year growth. The company linked this performance to several consumer initiatives, including a “Battery-as-a-Service” campaign and a promotional partnership with the Kolkata Knight Riders cricket team.

In its global business division, Hero reported dispatches of 33,653 units. The company recently appointed Quilmotors as its exclusive distributor in Ecuador, a move that includes the establishment of assembly operations and a distribution network in the South American nation.

ParticularsAPRIL’ 26APRIL’ 25
Motorcycles          501,791         286,089
Scooters             64,295           19,317
Total         566,086       305,406
Domestic         532,433         288,524
Exports            33,653           16,882

Speech by Gautam Adani, Chairman, Adani Group

Text of speech by Gautam Adani, Chairman, Adani Group on International Labor Day 2026

My dear colleagues — Greetings.

Apni Baat, Apno ke sath” — we are commencing this series of dialogue today, on May 1st — on this significant and auspicious occasion of International Workers’ Day.

It is my belief that life is a continuous journey spanning ‘yesterday, today, and tomorrow’ — wherein we learn from the past, understand the present, and shape the future.

Our growth journey at the Adani Group has also been grounded in this very philosophy; every experience, every decision, and every achievement form an integral part of our collective learning.

As a family, it is important that we openly share these learnings and ideas, so that, together, we can further empower and strengthen our business, our people, and all our stakeholders for the future. 

“Apni Baat, Apno ke sath”—is an endeavour born of that very spirit—where, from time to time, through the medium of dialogue, we will make our journey even more clear, empowered, meaningful, and participatory.

Today is our day—it is a day for all of us.

For every individual who is a hard worker—today is their day.

For every individual whose faith lies in hard work,

who understands the power of their own sweat,

and who does not run from difficulties, but rather knows how to face with them—

today is their day. 

For those who possess courage, resilience, and the passion to achieve something extraordinary—

Today belongs to them all.

Therefore—this day—is my day, it is your day, it is a day for all of us.

Today is International Workers’ Day.

Today is International Labour Day.

It is not just a date, but a celebration of the spirit that gives a person the strength to realise his dreams.

And friends, this day is also special to me for another reason.

On 1st May 1986, 40 years ago, I tied the sacred knot of marriage with Priti, and started a new journey of life with the most important person in my life.

And what better way could there be to begin this day than —

to have had the privilege this morning of visiting Kedarnath Dham with my wife, Priti, to seek the sacred blessings of Mahadev?

There, together, we offered our prayers to the Almighty—for having granted me birth in this great nation, India;

for granting me the opportunity to serve this country, 

and for bestowing upon me all your affection and trust.

For this, we are grateful to him.

On this day, we also prayed—

that our country may continue to progress and prosper endlessly;

and that the lives of each one of you may be filled with happiness, peace, and good health.

And there, too, we took a solemn pledge —

that, united together with renewed enthusiasm and fresh energy, 

we will strive to work towards even greater goals.

We stand at a juncture in history that is of extraordinary significance.

After a long era of subjugation, our nation attained independence in 1947.

Today, as we approach nearly eighty years of that independence, we stand—through our sheer hard work and valour — at a vantage point where the entire world looks toward India with hope and expectation.

This is a time when every endeavour we undertake ceases to be merely individual or institutional in nature; rather, it assumes the stature of national significance.

The nation’s Honorable Prime Minister, Narendra Bhai Modi, placing his faith in India’s youth power, its energy, and its potential, has resolved to transform India into a developed nation by the year 2047.

However, this resolve cannot be fulfilled through the efforts of any single individual, any single institution, or any single government.

To achieve this, over 1.4 billion citizens of this nation must unite with absolute sincerity, boundless energy, and total dedication.

The Adani Group, too, is a part of this country.

Therefore, it is not merely an opportunity for us, but rather our solemn responsibility to contribute our share to this journey of making our nation a developed one.

Some among you might harbour the thought that in a country as vast as ours, amidst such a massive population, what difference could my solitary contribution possibly make?

“What would really happen,” you might ask, “even if I were to do nothing at all?”

It is in the context of this very thought that I wish to share a story with you.

In the Ramayan, there is an incident, when, under the leadership of Lord Ram, the entire army of Vanaras reached the seashore and started the monumental task of constructing a bridge across the ocean to Lanka. The mighty Vanaras and bears were lifting massive boulders and heaving them into the sea.

At that very moment, Lord Ram and Lakshman arrived to observe the progress of the work.

There, they noticed a tiny squirrel, repeatedly running down to the ocean, rolling itself in the wet sand, and then shaking that sand off onto the bridge under construction.

It was performing this task over and over again.

When it was asked, “What exactly are you doing?”

So, with complete confidence, the squirrel said, “I, too, am making my contribution.”

When it was asked what difference, his tiny grains could possibly make in the face of such massive stones, The squirrel replied- “What matters is not how much of a difference my grains of sand actually make; what matters is that when history is written, it cannot be said that I did not make my contribution.”


Friends, this is precisely the spirit that must reside within each of us.

It does not matter whether your contribution is big or small; what matters is whether you made a contribution at all.

When we come to work, we must not view it merely as performing a job.

We must understand that every task we undertake is inextricably linked to the development of this nation. 

When we complete a project, we are not simply finishing a task; we are shaping the future of our country.

To truly grasp this concept, look at Mundra. 

There was a time when there was nothing there—just sand and barren land. 

Today, that very same Mundra has emerged as India’s largest port—accelerating the nation’s trade and connecting India to the rest of the world.

Similarly, the Vizhinjam Port in Keralam will carve out a new identity for India on the global maritime map and propel us forward toward becoming a robust transshipment hub.

And Khavda in Kutch—where we are currently building one of the world’s largest green energy projects—is laying the foundation for a safe and clean future for generations to come.

And now, the Navi Mumbai InternationalAirport—this is not merely an airport. It is the pride of our nation—one of the finest airports in the world. It will add a new dimension to India’s aviation capacities, increase connectivity and open the doors to new opportunities for millions of people.

This is not just an airport—it is a symbol of India’s growing strength and potential.

In this very sequence, as you all are aware, the Honourable Prime Minister, Shri Narendra bhai Modi, recently inaugurated a historic project—the Ganga Expressway—in Uttar Pradesh.

This Expressway is not merely a road connecting 12 districts and over 500 villages; rather—much like the sacred currents of Maa Ganga—it serves as a powerful medium that connects the lives of the people.

Just as Maa Ganga has nurtured our faith and culture for centuries, so too will this Expressway—emerging as a new stream of development—bring about transformation in the lives of over 8 crore people.

The journey from Meerut to Prayagraj—previously taking 10–11 hours—will now be completed in just 5–6 hours.

The structural integrity of the Ganga Expressway is such that, should the need arise, even fighter jets can land on it. It stands as a symbol of the strength and self-confidence of New India.

Maa Ganga is our faith, and the Ganga Expressway—a robust bridge connecting that very faith with development—will impart new momentum to the progress not only of Uttar Pradesh but of the entire nation.

But friends,

The Adani Group has undertaken another pledge—one that is perhaps among the most challenging tasks of my life and lies closest to my heart.

The redevelopment of Dharavi. This is not merely a project;

it is, perhaps, the world’s largest and most challenging endeavor in human transformation.

I have undertaken this responsibility with the full realization – that it is fraught with immense challenges.

However, we did not make this decision for the sake of profit.

We have assumed this responsibility because, in a sense, Dharavi has stood as a symbol of our collective failure.

The hard work of the people living there, their drive to move forward, their resilience in the face of struggle—has always been a source of inspiration.

Yet, we have not been able to provide them with the life they truly deserve it.

I wish to change this situation.

That is why I accepted the challenge of Dharavi.

All these projects I have mentioned—undertaken by the Adani Group with pride and satisfaction—represent a humble contribution towards nation-building.

And all of you constitute the true foundation of this achievement.

I salute your hard work and dedication in this endeavour.

And I bow down to you all.

There was a time when I set out for Mundra with a team of just 20 people. 

We would leave Ahmedabad at 4:00 AM, reach Mundra, and then stay there for the entire week to oversee the work.

Back then, there were only about 300 to 400 people on the site. 

I knew almost every colleague personally—by name, by their specific role, and even by their temperament. 

I knew exactly where each person hailed from and in which task they excelled at.

Today, more than 4 lakh people work with the Adani Group daily. Witnessing this fills me with pride and happiness, But one thought always lingers in my mind which is, despite my best intentions, I can no longer recall the name of every colleague.

However, I wish to share something with you from the bottom of my heart-Even if I may not be able to remember every name, the bond I share with you in my heart remains just as strong today as it was in the past.

The scale of the organization has changed, but its core values remained the same.

My vision has always been that the Adani Group should not merely be a place of employment, but rather a platform, where a hardworking individual can advance, step by step; where even someone starting from humble beginnings can one day ascend to the very pinnacle of leadership.

When we first began our journey in Mundra, I could never have imagined that this story would grow to such large proportions.

At moments like this, I am always reminded of these lines:

“Main akela hi chala tha Janib-E-Mazil magar, log sath aate gaye aur kaarvan banta gaya”

Today, this story comprises a community of over 4 lakh members.

Over our first 35 years, we collectively built assets worth approximately ₹2 lakh crore. 

And today, such is our standing that within this single year alone, we are going to add another ₹2 lakh crore in new assets.

This isn’t just a number—it’s the result of all your hard work.

Over the past few months, I’ve visited various sites.

I’ve travelled more than 1 lakh kilometres by plane, helicopter, and road.

I’ve met thousands of colleagues.

After these meetings, one thing has become crystal clear to me: If we are to maintain our momentum and build a stronger future, we must move forward with determination on certain fundamentals.

Based on these experiences, we’ve begun work on three major transformations, three pillars.

The first pillar is the 3-layer model.

As organizations grow larger, decisions become slower,  and things take longer to move from one level to another.

We don’t want this to happen.

The three-layer model aims to flatten the organization so that responsibility is clear and decisions can be made quickly.

When layers are reduced, decisions are made faster, work speed increases, and the entire organization is filled with new energy.

In today’s world, the difference is not just in capability, but, of speed. We want decisions that currently take three days to be made at a site to be made in just three hours.

And this offers another major advantage—when an organization has a flat structure, young team members get opportunities much sooner.

We have many young engineers, supervisors, and managers. They are filled with energy and fresh ideas. It is our responsibility to provide them with opportunities—to learn quickly, to advance rapidly, and to take on greater responsibility. The second pillar is thePartnership Model!

Today, the true strength of the Adani Group lies in our people—both our employees and our partners.

The two are complementary; one is incomplete without the other.

Our employees provide direction to the work, while our partners—contractors, suppliers, and vendors-execute that work on the ground and give it momentum.

However, as we expanded our operations, a challenge emerged.

Today, at many of our sites, more than 100 contractors are working simultaneously.

Coordinating such many people requires a distinct organizational framework.

This takes time, creates additional hierarchical layers, and slows down the decision-making process.

We intend to change this.

Our endeavour is to work with a selected group of strong and reliable partners.

Who can take responsibility for the entire task and complete it better, faster, and more effectively.

This will simplify coordination, reduce layers, clarify responsibility, and distribute the pace of work.

But the Partnership Model isn’t just about changing the structure. This is a change in mindset; this is a change in culture.

It is our commitment to stand by our partners—from start to end. Ensuring their success is our responsibility.

I recall the story of one of our partners, Hadhubhai Rabari. He hails from Vandh village, located near our plant. Previously, the ancestral occupation of his family—and indeed the entire village—was herding camels and selling milk.

Around 2008, while the construction of our—the Adani Power Plant—was underway, the mindset of the villagers was limited to pursuing only small-scale jobs in the vicinity of the plant.

But in 2016, during our solar project, Hadhubhai took a step forward.

We gave him a contract to supply water and to get started, he took out a loan and purchased an old water tanker.

Gradually, he mastered his work, completed work on time, and built a reputation for reliability.

Over time, he expanded his operations—today, his company has evolved into a robust business enterprise. He now owns several Hydra machines, large cranes, and various other pieces of equipment. 

Today, he shoulders the responsibility for major projects. However, for me, that is not the most significant aspect.

The most significant aspect is that his journey changed the mindset of the entire village. 

Today, many people from that very same village are venturing into new lines of work with Adani Group. And Hadhubhai is not alone; there are countless such stories of individuals who, while working alongside us, discovered the entrepreneur within themselves, expanded their own businesses, and forged a new identity.

This is the very goal of our Partnership Model. We do not merely aim to complete projects; we aim to empower people to move forward. 

Through this model, we seek to infuse the entire ecosystem with the spirit of entrepreneurship—cultivating hundreds of individuals who will not only advance in their own careers but also uplift others along the way.

The third pillar is—Learning and Development.

If we are to maintain momentum in our work, and if we are to make enduring partnerships it is important that our people continue to learn.

We want to ensure that there is a clear and defined path for every individual to advance and progress If someone is unskilled, they should become semi-skilled; from semi-skilled, they should progress to being skilled; and eventually, they should rise to become a supervisor, manager, or leader.
If we want to — accelerate the work, if we want to — build strong partnerships, Whether one is a fitter, a crane operator, a technician, or any colleague working at a site—there must be an opportunity for everyone to grow.

I am reminded of Subbu’s story. Subbu began his career as a labourer at Hazira Port. However, he always possessed an insatiable desire to learn. He started by offering small suggestions, then underwent training, mastered new technologies, and gradually continued to refine and improve his work, starting as a labourer, rising to become a supervisor, then an Innovation Manager, and today, contributing his expertise at the corporate office.

But I want to state one thing clearly—

Subbu is not merely an individual; Subbu represents a mindset.

I want each one of you to think: “I, too, can become a Subbu.” 

Each of you possesses that very potential within you.

That is precisely why we are establishing the Adani Training Academy,

Where there will be a system for every individual to learn—and to enhance their skills.

And through the medium of technology as well, we will ensure that every colleague receives the opportunity to learn and to advance—regardless of where they are working.

Colleagues,

These three changes—the 3-Layer Model, the Partnership Model, and Learning & Development—

They are not different entities; they are incomplete without one another.

Therefore, it is essential to implement all three of these. Think of them as a Triveni Sangam

The Ganga, the Yamuna, and the Saraswati all are three different rivers it is only when they meet at the Sangam that their significance and power are truly amplified.

Colleagues,

Alongside these three transformative changes, there are certain fundamental principles those in which — we have always — believed, and on which — we will continue to work — with equal dedication.

You can call these the five elements as Panchtatva of our organization.

Just as nature is made up of five elements, a strong organization also stands on certain fundamental elements.

The first element is prioritizing local people.

We believe that wherever we work, the land, the people, and the dreams of that place should grow with us.

Therefore, we try to provide opportunities first to people from the local area, then from within the state, and only after that, from outside.

And—in certain special circumstances,where we are unable to find people locally, our partners are better equipped to know how and where to bring them from.

The second element is strong skill and training.

Both the world and the nature of work are changing.

To stay ahead, it is essential to provide people with opportunities for continuous learning.

That is why we are undertaking initiatives such as training programs and Adani Skill Centres.


The third element is clear career progression.

We aim to create a cadre where individuals join at a young age, continue to learn, and grow within this very organization.

From unskilled to semi-skilled, skilled, supervisor, manager, and up to leadership—there should be a clear journey.

I wish for a time—very soon—when lateral hiring at the Adani Group stops completely, and we rely solely on homegrown talent.

This is not merely a career path; it is a journey of absolute trust.

The fourth element is a fair and competitive salary.

Hard work must be respected. Compensation should be fair, and it must be paid on time.

Every team member should have this assurance —that his hard work, his dedication—and his contribution—are receiving due respect.

The fifth element is—life with dignity.

Many of our colleagues work at remote, challenging sites. After a day of hard work, they should receive a clean place to live, nutritious food, and a safe environment. 

This is not a privilege; It is a necessity.

It is the right of every working person.

Therefore, we are constructing air-conditioned accommodations for 50,000 colleagues in Mundra and Khavda, and we are building a massive cloud kitchen in Mundra for our team, a facility that will provide one lakh servings of clean, delicious, and nutritious meals every day.

My dear colleagues,

Just as the Pandavas were five in number, and each possessed their own unique strengths, Yudhishthir possessed truth and patience; Bheem possessed strength; Arjun possessed skill; and Nakul and Sahadev possessed balance and wisdom.

However, their true power lay in their unity, in standing together; similarly, It is only when these five elements come together that they form a strong, sensitive, and forward-moving organization.

Colleagues,

Each of our sites is a ‘Mini-India.’ 

People hailing from different parts of the country with diverse languages, cultures, and backgrounds—Yet, all working together in unison. 

Some hail from Uttar Pradesh, Some from West Bengal, Some from Bihar, some from Keralam, some from Odisha, While some are from Gujarat—But when they are on the site, they share but a single identity—We are all colleagues of the Adani Group, and we are all Indians.

And when lakhs of people work with this spirit, we do not merely build projects-we build the nation.

Therefore, I believe that you are not merely labourers.

You are not merely employees. You are not merely officers. You are nation-builders.

Come, let us take this pledge on this Workers’ Day, that we shall view our work not merely as a job, but as a contribution to nation-building.

This is our journey; this is our resolve; and this is our future.

Jai Hind! Jai Bharat!

Adani Group to add Rs 2 lakh crore in assets this year

By Our Bureau
Ahmedabad, May 1, 2026

Adani Group plans to add Rs 2 lakh crore ($24 billion) worth of new assets this year as the business conglomerate overhauls its internal structure to accelerate project execution, its Chairman Gautam Adani said.

Further, Adani Group will adopt a three-layer organisational model to speed up decision-making and boost execution across its businesses, Adani said while addressing 4 lakh employees on International Labour Day.

“In our first 35 years, we collectively built assets worth about Rs 2 lakh crore. And today, such is our standing that within this single year alone, we are going to add another Rs 2 lakh crore in new assets,” Adani said, adding that the Adani Group would contribute to the journey of making India a developed nation by 2047, as envisioned by Prime Minister Narendra Modi.

Citing the examples of various projects such as Mundra and the just-completed Ganga Expressway, Gautam Adani said, “When we complete a project, we are not simply finishing a task; we are shaping the future of our country.”

He highlighted that the Mundra project had transformed a swathe of barren land into India’s largest port — accelerating the nation’s trade and connecting the country to the rest of the world.

Similarly, the Vizhinjam Port in Kerala will carve out a new identity for India on the global maritime map and propel the country forward toward becoming a robust transshipment hub. And Khavda in Kutch — where the group is currently building one of the world’s largest green energy projects — is laying the foundation for a safe and clean future for generations to come.

Regarding the Navi Mumbai International Airport, he said it has become the pride of the country as one of the finest airports in the world and will add a new dimension to India’s aviation capacities, increasing connectivity and opening the doors to new opportunities for millions of people.

On the 594-km greenfield Ganga Expressway project in Uttar Pradesh, which was inaugurated by the Prime Minister earlier this week, he said the project would transform the lives of over 8 crore people by cutting the journey from Meerut to Prayagraj to a mere 5–6 hours from the earlier 10–11 hours.

Talking about the Dharavi slum redevelopment project, he said that it is the world’s largest and most “challenging endeavour in human transformation”.

Three-layer organisational model

The firm is also adopting a new three-layer organisational model designed to flatten hierarchies and reduce bureaucratic delays. Adani stated that the restructuring aims to cut decision-making time from days to hours.

“The three-layer model is designed to eliminate bureaucratic delays and bring greater clarity in responsibility. We want decisions that currently take three days to be made in just three hours,” he said.

Alongside this, Gautam Adani also introduced a “partnership model” that seeks to streamline engagement with contractors and vendors.

Addressing the ‘Adani Pariwar’, the Chairman detailed a roadmap focused on a flattened three-layer organisational model, a strategic partnership framework, and a formalised learning ecosystem intended to empower the group’s four lakh workers.

“If we are to maintain our momentum and build a stronger future, we must move forward with determination on certain fundamentals. Based on these experiences, we’ve begun work on three major transformations, three pillars,” he stated.

Bharat Forge acquires 30% stake in Fortuna Engineering

By Our Correspondent
Pune, May 1, 2026

Pune-based Bharat Forge Ltd (BFL) has acquired a 30% stake in Fortuna Engineering Private Ltd (FEPL) for Rs 129.60 crore, marking a foray into the precision-machining sector.

Set up in 1989, Fortuna Engineering is a manufacturer of precision-machined engine components. The firm serves major automotive Original Equipment Manufacturers (OEMs) across several sectors, including passenger and commercial vehicles, tractors, and off-highway equipment.

“We are impressed by the company’s capabilities, operating track record and reputation in the market. We look forward to working closely with the promoters and management team of Fortuna to scale the business further,” Bharat Forge Vice Chairman and Joint Managing Director Amit Kalyani said.

Fortuna Engineering plans to utilise Bharat Forge’s international reach to move into new geographies and product lines. The deal is expected to position Fortuna to pursue growth opportunities in both domestic and global markets.

“This partnership is a significant milestone for us and a strong enabler for our next phase of growth across new products, new customers and new geographies. We see this partnership as a powerful opportunity to strengthen our contribution to the ‘Make in India’ vision by building world-class capabilities in India for global requirements,” Fortuna Engineering Chairman and Managing Director Suriya Narayanan said.

The closure of the deal is subject to fulfilment of standard conditions and regulatory approvals.

Bharat Forge provides safety-critical components for sectors including aerospace, Defence, and automotive.

HFCL posts net profit of ₹184.45 crore in Q4, revenues soar

By Our Correspondent
Mumbai, April 30

HFCL posted a consolidated net profit at ₹184.45 crore in the fourth quarter ended March 31, 2026, compared with a net loss of ₹83.30 crore recorded during the same quarter of the previous financial year. The telecoms firm posted a 128% rise in revenue for the quarter under review at ₹1,824 crore compared with the ₹801 crore recorded during the year-ago quarter.

For the full year, the company’s net profit rose to ₹329.44 crore, a 90% rise over the ₹173.26 crore reported in FY25, underpinned by a 21.77% increase in annual revenue to ₹4,949.27 crore. The company’s EBITDA rose 63.15% during the year, HFCL said in a statement.

The company has recommended a dividend of 20%.

Mahendra Nahata, Managing Director of HFCL, said that FY26 has been a defining year for the company, during which it delivered its highest-ever performance.

A primary driver of this success was the phenomenal surge in export revenue, which reached ₹2,047 crore to account for 41% of total revenue, up from just 12% in the previous year. The company’s EBITDA also grew by 63% to ₹826.75 crore, reflecting a disciplined execution of strategic priorities and improved realisations in high fibre-count optical fibre cables.

Consolidated – Q4FY26

 ParticularsQ4FY26₹in croreQ3FY26₹ in croreChange QoQ%Q4FY25₹ in croreChange  YoY%
Revenue1824.121210.7950.66%800.72127.81%
EBIDTA336.93243.5238.36%-22.33 
EBIDTA Margin18.47%20.11%-164 Bps-2.79%2126 Bps
PAT184.45102.3780.18%-83.30 
PAT Margin10.11%8.45%166 Bps-10.40%2051 Bps

₹21,206 crore order book

The company’s order book rose to of ₹21,206 crore. The firm is investing ₹580 crore in a new preform manufacturing facility for backward integration.

“We are witnessing not only a substantial expansion in our order book but also improvement in its business composition, with a higher share of exports, long-term contracts, and high-margin products,” Nahata said.

“We believe the strong momentum witnessed in Q4 will continue in coming quarters.”

During the quarter, HFCL entered into a Memorandum of Understanding to participate in defence aerospace-related opportunities. The aerospace business being acquired operates in a high-entry-barrier segment, characterised by stringent qualification requirements, high precision engineering, long approval cycles, and a limited global supplier base.

FY26Consolidated

ParticularsFY26₹in croreFY25₹in croreChangeY-o-Y %
Revenue4949.274064.5221.77%
EBIDTA826.75506.7563.15%
EBIDTA Margin (%)16.70%12.47%423 Bps
PAT329.44173.2690.14%
PAT Margin (%)6.66%4.26%240 Bps

Cement sector margins at risk as energy costs climb in new fiscal

By Our Correspondent
Mumbai, April 1, 2026

Indian cement manufacturers are projected to face a significant squeeze in profit margins starting in the first quarter of FY27, impacted by a cumulative rise in fuel and packaging expenses, Equirus Securities said in a note.

The combined impact of rising petroleum coke, coal, and polypropylene bag prices is expected to increase production costs by ₹250-300 per tonne. While companies have remained relatively insulated during the final quarter of FY26 due to the consumption of low-cost inventory, this buffer is expected to dissipate as the industry enters the new fiscal period.

To counter these pressures, producers are planning price hikes in April.

The surge in energy costs has been precipitated by a sharp rally in global fuel prices over the last six months, driven largely by supply-side disruptions rather than a spike in incremental demand. The US and Saudi Arabian petroleum coke prices have jumped by about 30 per cent compared with the average exit prices of the third quarter of FY26.

These increases are primarily linked to weather-related production issues in the US and strategic production cuts in Indonesia aimed at supporting coal prices. Geopolitical tensions in early 2026 further exacerbated the situation, causing coal prices to spike as European buyers switched between gas and coal, indirectly tightening global supply.

The surge in fuel costs is expected to hit cement players to the tune of ₹200 per tonne starting in the first quarter of FY27.

Beyond energy, the industry is grappling with a severe escalation in the cost of packaging materials, which is anticipated to impact profitability by an additional ₹150 per tonne.

The price of polypropylene bags, a staple for the sector, has nearly doubled from ₹8.5 per bag prior to January to about ₹15.3 per bag. This shift is attributed to a ₹59 per kg increase in raw material costs, as refineries have prioritised gas production over polypropylene.

While raw material availability is stable now, manufacturers with less efficient procurement policies are facing potential stock-out situations. The suddenness of this increase has made long-standing government supply orders unfeasible for many bag manufacturers, who are now prioritising private sector clients to maintain financial viability.

Price hikes

To offset the mounting cost pressures, the industry is looking toward a new round of price adjustments scheduled to take effect from April 5, 2026. Channel checks indicate that manufacturers in the southern region are seeking steep hikes of about ₹50 per bag, while other regions are targeting increases of ₹20-30 per bag.

Specifically, hikes of ₹25 are expected in the north and ₹30 in the east, with central and western markets aiming for ₹20. However, analysts remain cautious about the success of these measures, projecting that only about ₹30 of the proposed ₹50 hike may be successfully absorbed in the south.

The ability of the industry to defend these prices will be critical in determining whether the sectoral profitability can withstand the escalating cost environment of the coming months.

Cricket fever leads to surge in dine-out bookings; biryani orders surge during Eid

Our Correspondent
Mumbai, March 28, 2026

As the Indian Premier League (IPL) season got underway, Swiggy reported a 31 per cent surge in dine out bookings compared with the opening day of the previous season, a testimony of how cricket continues to drive India’s appetite for dining out.

Restaurants offering live screenings saw a 22.4 per cent rise in bookings for the 7 pm slot when the match began, with Bengaluru recording a 21 per cent surge in reservations and collective savings of ₹96 lakh through Swiggy Dineout. Mumbai followed the next day with savings of more than ₹63 lakh as the cricket fever shifted to western part of the country, Swiggy said in a statement.

The highest individual spend came in from Bengaluru, where a customer shelled out ₹1.19 lakh on the opening night, while group bookings rose sharply with one party of 30 marking the largest single reservation. Casual dining restaurants drew the highest numbers, but pubs and lounges saw the fastest growth, cementing their place as cricket hotspots.

In March, the festive calendar added momentum. During Navratri between March 19 and 27, Swiggy recorded a 25 per cent growth in orders compared with April 2025, with demand peaking on March 22 at 8:06 pm when 4,800 orders were placed in a single minute. Sabudana Khichdi emerged as the fasting favourite with 222 orders every hour, followed by Sabudana Vada and the traditional Vrat Thali.

Bengaluru, Delhi and Gurgaon led the metros, while Bareilly, Bhopal and Dehradun topped emerging markets. One Delhi customer spent ₹11,980 on a lavish Navratri spread of thalis and masala chaas, underscoring how digital platforms have become central to family feasts.

Eid al-Fitr on March 21 was dominated by biryani, with more than 200 orders placed every minute nationwide. Gulab Jamun and Choco Lava Cake added sweetness to the celebrations, with gulab jamun alone clocking 11 orders per minute. A Noida customer placed the country’s largest Eid order worth ₹38,165, while in Mumbai a single biryani order for 15 people cost ₹15,866.

Bengaluru, Mumbai, Hyderabad, Chennai and Delhi saw the highest volumes, but cities like Thiruvananthapuram, Surat and Mangaluru also registered strong activity, while Shillong, Agartala and Dibrugarh led smaller markets.

Between February 28 and March 8, during the time of Holi, Swiggy delivered 5,764 specials across 1,381 long-distance trains, with samosa, lassi and pyaaz kachori forming the festive trinity. Jaipur stood out with every eighth order being a Holi special, while the Kerala Express alone accounted for 780 deliveries, showing how the celebration stretched across regions. A record single order of 122 items was ordered aboard Indore–Amritsar Express.