Business

Ceinsys Tech Achieves 79% Year-Over-Year Revenue Growth

Published

1 year ago

February 13, 2025

Ceinsys Tech Ltd has reported a remarkable 79% year-on-year increase in consolidated revenue for the third quarter of the fiscal year 2025, reaching ₹1,118 million. The company’s EBITDA surged by 102% year-on-year to ₹214 million, achieving an EBITDA margin of 19.14%. Meanwhile, profit after tax (PAT) saw a 71% increase year-on-year, totaling ₹178 million.

For the nine-month period ending December 31, 2024, Ceinsys recorded revenues of ₹2,757 million, reflecting a 58% year-on-year growth. EBITDA for this period was ₹513 million, up 62% year-on-year, while PAT reached ₹414 million, marking a 77% increase year-on-year.

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The company’s growth has been attributed to enhanced operational efficiency and effective project execution. As of December 31, 2024, CS TECH AI’s order book stood at ₹13,900 million, with 53% derived from geospatial and engineering services and 47% from technology solutions. Notable contract wins include the River Linking Project in Maharashtra worth ₹3,811.8 million and the IoT-based Water & Sanitation Project in Maharashtra valued at ₹3,316 million. Other key contracts include GIS Enterprise Implementation for CIDCO at ₹291.9 million and Digital Transformation for MHADA at ₹277.6 million.

Furthermore, the company improved its working capital cycle, reducing it from 237 days in March 2023 to 124 days in December 2024. Ceinsys Tech also raised ₹2,350 million in Q2-FY25 through equity issuance and share warrants to support its expansion efforts.

Starting January 1, 2025, Ceinsys Tech Ltd will operate under the new name CS TECH AI, reflecting its dedication to AI-driven technology solutions. The rebranding, accompanied by the tagline “Enhancing Possibilities,” highlights the company’s commitment to utilizing innovative technology for its clients across various industries.

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Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 day ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

5 days ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

1 week ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.