Business
Ceinsys Tech Achieves 79% Year-Over-Year Revenue Growth
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.
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.
Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.
Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.
With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.
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Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.
The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.
Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.
Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.
If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.
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Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.
New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.
Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.
In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.
READ MORE :Class 1st Girl Loses Two Fingers in School Accident
Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.
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