Lloyd’s of London suffers storm-filled losses, sees profit in 2019

Lloyd's of London suffers storm-filled losses, sees profit in 2019

LONDON (Reuters) – Hurricanes, typhoons and wildfires drove Lloyd’s of London to steep losses for the second year running, though its chief executive said he expects a sharper focus on performance will bring the market back into profit this year.

FILE PHOTO: A man walks out of Lloyds of London’s headquarters in the City of London, Britain, July 31, 2018. REUTERS/Simon Dawson

Lloyd’s, which started life in Edward Lloyd’s coffee house in 1688, insures complex risks from ships to artwork. It houses around 80 member syndicates and its results are an aggregate of its members’ financial performance.

Insured losses from natural catastrophes such as typhoons in Japan and hurricanes and wildfires in the United States totaled $80 billion last year according to industry estimates, following losses of $140 billion in 2017 after three large hurricanes in the U.S. and the Caribbean.

Competition in the sector has made it harder for insurers to raise their rates significantly even after the 2017 losses. Lloyd’s last year told its members to drop their worst-performing lines of business.

“We are super-confident that the plans presented for 2019 will put us back in profit,” chief executive John Neal told Reuters by phone, adding that the key issue was to ensure the plans were executed.

Lloyd’s recorded a loss of 1 billion pounds ($1.32 billion) in 2018, after a 2 billion pound loss in 2017.

Lloyd’s’ combined ratio, a measure of underwriting profitability, strengthened to 104.5 percent from 114 percent. A level above 100 percent indicates a loss.

Following a six-month review of its business, Lloyd’s said it will publish a prospectus with details of its plans on May 1. In an outline of the prospectus published on Wednesday, Lloyd’s said it aimed to cut the costs of doing business at Lloyd’s and encourage new types of capital onto the Lloyd’s platform.

Lloyd’s has also come under fire over its policies on sexual harassment, following a Bloomberg News report last week highlighting issues with sexual harassment in the market.

Lloyd’s announced an action plan on Tuesday in response to the report.

It will add two women to its nominations committee and made a commitment to hear the accounts of the women in the Bloomberg article in a safe and confidential space. It has also introduced a number of policies, including sanctions and potential life bans on entering its City tower.

Former chief executive Inga Beale, Lloyd’s first woman CEO, championed diversity. Neal took over as CEO in Oct 2018.

Neal told Reuters he had written to the chief executives of the market’s members to ask for their policies on a number of diversity and inclusion issues, including sexual harassment, drugs and alcohol, in an attempt to raise standards.

Reporting by Carolyn Cohn; editing by Louise Heavens and Elaine Hardcastle

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China buckles to Trump with vow to buy up to 300k TONNES of US pork to break trade war

China is the world’s highest consumer of pork related products. But in what seems a bid to ease tensions with the US, after President Donald Trump engaged in a trade war with Beijing, the country is reportedly looking at increasing its US pork imports to its highest ever levels. It comes as Beijing continues to bolster purchases of US-made farm goods in an attempt to resolve the trade war which has affected the sale of Chinese consumer and agricultural goods.

Sources close to the situation revealed to Bloomberg that the country are poised to bring in 300,000 metric tonnes of pork in 2019 – 80 percent more the average 166,000 tonnes it bought from the US in 2017 before Mr Trump imposed economic sanctions.

The rise in pork purchases is also said to have been pushed by an outbreak of African Swine Fever across China in 2017.

In October, over 12 cases had been confirmed across the country, shutting down China’s pig producing provinces under strict lockdown.

China buckles to Trump with vow to buy up to 300k TONNES of US pork to break trade war

China news: China is set to buy up to 300,000 tonnes of pork from the US as it looks to heal trade (Image: GETTY)

The disease has been hard to contain in the country and as a result has seen the number of pigs culled in the world’s largest pork market increase by 15 percent.

The destruction of infected pigs pushed up pork prices in China, leading Beijing to make its third-biggest weekly purchase of US pork, despite tariff levels of 62 percent.

On Tuesday, a senior official from the International Monetary Fund (IMF) said trade tensions between the US and China have caused huge amounts of economic uncertainty.

Zhang Tao told the Boao Forum – a conference that hosts to discuss opressing global issues leaders from government, business and academia – that current tensions between the two nations were feared to cut Asia’s economic growth by 0.9 percentage point.

Meanwhile, the US Department of Agriculture expects the total number of Chinese pork imports to jump by 28 percent before the end of the year.

Last week US border agents confirmed they seized 453,592 kg food products from China this month as they work to keep African Swine Fever out of the country.

Customs Border and Protection spokesman Anthony Bucci said containers seized also held noodles and tea bags that were used to facilitate the unlawful import of pork products.

Mr Trump is reportedly eyeing up a future trade deal with Beijing – but it won’t be for some time (Image: GETTY)

Meanwhile, US think tank Atlantic Council said earlier in March that it believed Mr Trump will prioritise a “major deal” with China over the EU.

But Frederick Kempe warned cross-Atlantic cooperation on dealing with Beijing appears a long way off, with Mr Trump eyeing the EU as a trade rival.

Mr Kempe said: “Although it may sound a little utopian, a common transatlantic strategy in dealing with China would be in the best interest of both the US and the EU.

Sale of UBL shares held by Vijay Mallya-linked company to take place on Wednesday

Sale of UBL shares held by Vijay Mallya-linked company to take place on Wednesday

Vijay Mallya is the chairman of UBHL.(AP File )

The special PMLA court on Tuesday refused to stay the sale of United Breweries Ltd’s (UBL) shares held by Vijay Mallya-linked United Breweries (Holdings) Limited. The sale is scheduled to take place on Wednesday morning.

Earlier, on March 11, DRT had issued a proclamation for sale of more than 74 lakh shares of UBL, owned by UBHL,a company where Vijay Mallya is chairperson.

The court on Tuesday rejected the application filed by UBHL, challenging the proclamation of sale issued by Debts Recovery Tribunal (DRT), Bangalore, for sale of shares in order to recover the dues.

The court had asked the recovery officer of DRT to file a reply to UBHL plea by March 25. However, he did not appear before the court. On Tuesday, arguing for UBHL, Amit Desai questioned the action of the recovery officer. Desai contended that the officer has only proposed to sale a small amount of the entire share block held by UBHL and Vijay Mallya, which would cause a huge loss to creditors.

“As per the current status we own around 27% of the total shares of UBL while 43% are held by Heineken. If the shares are sold in small blocks it would cause a great loss.” Desai further contended that these shares are part of the properties attached by ED in 2016 and the PMLA court also had passed the order confirming the attachment.

Nirav Modi’s art collection fetches Rs 54.84 crore at Mumbai auction

Nirav Modi’s art collection fetches Rs 54.84 crore at Mumbai auction

This Raja Ravi Varma painting was estimated to touch Rs 12 crore to Rs 18 crore. It was sold for Rs 16 crore. (Saffronart)

Sixty eight artworks from the collection of Nirav Modi, the billionaire jeweller accused of fraud and currently under arrest in London, went under the hammer at Saffronart’s Spring Live Auction on Tuesday.

The sale, conducted by the Mumbai-based auction house on behalf of the Tax Recovery Officer of India’s Income Tax Department, included a large collection of modern and contemporary Indian paintings, and a clutch of contemporary Chinese works.

The department seized over 170 artworks belonging to Modi in February.

Last week, a special court for offences registered under the Prevention of Money Laundering Act allowed the department to auction works to recover I-T arrears of over Rs 95 crore from Camelot Enterprises, a purpoted shell company formed by Nirav and controlled by another Punjab National Bank fraud accused, Hemant Bhatt.

Of the works that were auctioned, 55 sold for a total of Rs 54.84 crore.

A 1973 untitled oil on canvas by VS Gaitonde fetched Rs 25.24 crore (inclusive of buyer’s premium), while an 1881 work by Ravi Varma fetched Rs 16.10 crore.

India Law Alliance, a law firm representing Modi’s company has contested the auction. The matter will be heard in the Bombay High Court on Wednesday.

A bidder, on condition of anonymity, was anxious to find out what would happen at the hearing. “The estimates are a little high,” she said.

Why Bengaluru’s big-budget elevated corridor project may not solve the city’s traffic woes

Why Bengaluru’s big-budget elevated corridor project may not solve the city’s traffic woes

The Government of Karnataka proposes a long network of elevated traffic corridors, totalling close to 90 kilometres in length, to alleviate congestion in Bengaluru, and recently floated a tender for the first phase of the project. This tender, and subsequent ones to follow, are on the basis of a detailed feasibility report commissioned by Karnataka Road Development Corporation and prepared by a trio of private consultants engaged for the purpose.

The report only mentions the construction cost of the project, which is over Rs 19,000 crore. There have been press reports that claim once land acquisition and other costs are factored in, the total project cost could be close to Rs 30,000 crore or more. This is an enormous sum of money and one would assume that whoever proposes spending such a huge sum would exercise due diligence and enormous care to ensure that all aspects that warrant inclusion in the evaluation have been carefully considered. There is legitimate cause for concern when such proposals overlook many basic fundamental aspects.

The focus here is not to comment so much on the proposal for the elevated corridor project, but to reflect on the quality of urban governance and planning if a proposal to spend thousands of crores can be put forward without detailed evaluation of issues such as those listed below.

Vision for the city

Cities cannot be reduced to quantitative or technical problems to be solved. They are sites of creativity that form the cutting edge of an economy: even though less than 35% of India’s population is urban, over 60% of her gross domestic product comes from urban areas. Cities are dynamic cultural entities where the way people come together affects the vibrancy of the culture, economy and politics that take shape within the city.

Jane Jacobs, the eminent thinker on cities, had proposed that cities are truly vibrant when they have a buzz of pedestrians moving about at all times. Such cities are also far safer due to more “eyes on the street”. This will not happen by accident: it first requires a vision on the quality of life we want for the city, and then an urban design and planning strategy that works out the spatial form that will catalyse this quality of life. Clearly, a large network of megastructures of elevated corridors, casting huge shadows and spewing noise and pollution which will drive away certain land-uses, is not conducive to a vibrant pedestrian life. While some elevated transit structures may be unavoidable, they must always be evaluated and shaped by an overall urban vision. This proposal makes no such attempt.

Institutional framework for urban planning

The 74th Amendment to the Constitution of India came into effect in 1992 with the aim of granting recognition and autonomy to urban governance so that each municipality can function as a “vibrant democratic unit of self-government.” It stipulates that planning for a city the size of Bengaluru be undertaken only by a Metropolitan Planning Committee, which should draw at least two-thirds of its strength from elected members of the municipality – a provision that aims to subject urban planning to democratic oversight within the municipality.

Bengaluru has been poor in conforming to this constitutional requirement. It constituted the Metropolitan Planning Committee over 20 years after the amendment was enacted and bypassed the “self-government” intent by granting chairmanship of the Committee to the chief minister of the state. The amendment is silent on how the Metropolitan Planning Committee should develop the institutional capacity to perform urban planning, but it could be assumed that this capacity will be developed through building a qualified secretariat and an empanelled set of professional consultants.

Bengaluru has not pushed the Metropolitan Planning Committee in this direction, choosing to delegate all planning to the parastatal organisation that has conducted it so far: the Bangalore Development Authority. Delegation to a parastatal is another diversion from the intent of empowering municipal self-government that the spirit of the 74th Amendment calls for (and it is significant to note that the project report for the elevated corridor project has been commissioned by another parastatal, and not by the Bangalore Development Authority).

There is currently a public interest litigation being heard in the Karnataka High Court challenging this failure in conformance to the Constitution. In the course of this hearing, the court observed that the elevated corridor project has not been undertaken within the legally mandated institutional framework for urban planning and directed the government to cancel the tender floated for the first phase of construction of the project.

The project has also not followed the mandated procedure for public consultations on major development projects stipulated in the Karnataka Town and Country Planning Act.

Typology of road networks

Road networks cannot be evaluated solely with linear logic. Roads belong to a category of what philosophers have called “polycentric problems”, which means that any problem cannot be isolated to one spot in the network. The metaphor that best explains this is the spider’s web: one may tweak the tension in one single strand of the web, but this action and its results cannot be confined to the point of intervention. A change in tension in any single strand results in a redistribution of tension in the entire web.

In India, we have tended to view interventions in road networks as “monocentric” problems, where we can isolate the problem and its solution to a single spot. For example, we observe congestion at a specific road junction and come up with the knee-jerk solution of a flyover at that junction to resolve congestion. We may find that after constructing that flyover we no longer see congestion at that junction and therefore believe our intervention to be successful. However, there may be another junction a few kilometres downstream of the traffic flow which, before the flyover was constructed, received a volume of vehicles per minute and was able to handle this volume successfully. Once the upstream congestion is resolved, this junction now receives 3x vehicles per minute, and it becomes congested. The flyover did not eliminate congestion: it merely redistributed it.

The elevated corridor cannot be seen as an isolated project and must be viewed in terms of the overall architecture of the road network. The corridors have a series of entry and exit ramps, and the impact these ramps have on the underlying road structure is insufficiently evaluated. Ashish Verma, Associate Professor of Transportation Systems Engineering at the Indian Institute of Science, predicts that these interfaces will cause fifty-three new spots of congestion in the city.

One has to look at the network as a whole, and particularly its typology and how one may alter it. Bengaluru has an overly radial pattern of roads, which overloads the city centre and causes a level of congestion that spreads outwards, with spill over impacts in peripheral areas. The strategy should be to relieve traffic flows from the restrictions of this radial emphasis through new concentric connections. This can be achieved through a mix of new roads (such as the proposed peripheral ring road) and modification and reclassification of existing roads. A case study that achieved this is Washington DC which in the late 1960s constructed a circumferential highway called the Capital Beltway. This was supplemented with area development plans that coordinated land-uses and secondary roads along this highway, resulting in a shift of commuting patterns so that the number of commuters moving concentrically far outnumbered those moving radially.

The elevated corridor project makes insufficient attempt to tackle the overall typology of Bengaluru’s road network, and to view it as a polycentric challenge.

Traffic and turbulence

It is falsely assumed that the only cause of traffic congestion is because of an overload of volume. This is not true in India, where a substantial degree of congestion results from turbulence in traffic flows caused by uneven road design standards. Imagine a water pipe whose width changed every few feet. Clearly water would not flow efficiently in such a pipe, and if one found a trickle upon opening the tap at the other end, this would be a result of turbulence in the system and may not be due to the average pipe diameter being too small for the desired flow rate.

We do not have consistent widths or standardised turn curvatures in the roads of Bengaluru (and most Indian cities), and the consequent turbulence is a significant cause of congestion. The relative role that turbulence and volume play in causing congestion is inadequately studied, but it should be noted that the project report justifies the proposal on elevated corridors by looking at congestion solely from the perspective of traffic volumes, making no attempt to comprehend the impact of turbulence in the system. Strategies to resolve turbulence require reclassification and modification of existing roads rather than adding new roads, and if turbulence is effectively dealt with, then the quantum of demand for new road space would come down drastically.

The fact that a reduction in turbulence can have an impact is proven by the TenderSure project implemented in the centre of Bengaluru. When the project was first proposed, doomsayers predicted that it would completely clog the city core, for traffic volumes were high and the proposal called for a reduction of traffic corridor widths in order to grant more space to pedestrians. But this never happened: despite reduced widths traffic continued to flow, for the project reduced turbulence through implementing systematic road standards.

Mixed-mode transport strategies

The Government of India has developed a National Urban Transport Policy that is published on the website of the Ministry of Housing and Urban Affairs. This document is offered as a baseline policy standard that can guide the development of transport strategies in every city. The document is acknowledged as a resource on the website of the Directorate of Urban Land Transport, Urban Development Department, Government of Karnataka.

One of the key objectives of the National Urban Transport Policy is to ensure that transport plans seek to serve the entire population and are not disproportionately oriented toward elite constituencies. A prime means of doing this is to aim at an allocation of road space on the basis of people rather than vehicles. This is not the current situation where buses carry far more daily passenger trips than private motorised vehicles, yet private vehicles occupy over 80% of the road space whereas buses occupy less than 5% (with this proportion falling further during peak hour traffic). Clearly a resolution of the transport problem can only be solved by a shift of prevailing modes from private to public transport. As the old adage goes, “A developed country is not one where everyone owns a car, but one where even the well-to-do use public transport.”

A strategy that seeks to primarily serve private vehicles is an elitist strategy as it serves only the upper economic segments of the population. The project report on elevated corridors continues this elitism by making all assessments of traffic volume using the measure of Passenger Car Units. All vehicles types are converted into Passenger Car Units equivalents, and the comparative effectiveness of different transport modes is lost in the analysis.

If the goal of the National Urban Transport Policy of allocating road space on the basis of people rather than vehicles is to be achieved, then all transport proposals should occur within the context of a comprehensive strategy that examines all modes of transport, with an emphasis on public transit. The project report acknowledges that all modes of transport should be coordinated with the elevated corridors, but only recognises this at a general level and goes into the detailed calculations and designs for the elevated corridors without similarly detailed assessment on other modes and the relative weights to be assigned to each mode of transport. If a comprehensive policy analysis of all modes of transport were done in advance, the entire proposal for the elevated corridors would probably need substantial modification.

Given that the detailed designs on elevated corridors were rushed into the tendering stage, it appears that by the time any comprehensive multi-mode policy was evolved, the construction of these elevated corridors would be locked into place as a fait accompli, along with the concomitant distortions in the relative weightage of public versus private transport modes.

Land-use and transit

Urban transport cannot be looked at in isolation for it bears a strong connection with land-use. For example, a single-use zoning policy where every parcel of land can only be used for a single designated purpose (whether residential or commercial) will entail greater average distances between work and home when compared to a mixed-use zoning policy where a neighbourhood contains a judicious mix of residential and commercial uses. This is not to recommend that we only follow a mixed-use policy, but to make the point that the land-use strategy adopted can have a significant impact on loads on the transit system.

This is why transport design should always form a part of comprehensive master planning. The current proposal on elevated corridors has been done as a separate exercise disconnected from the preparation of the comprehensive development plan. The government did announce that the proposal will be incorporated into the new master plan for Bengaluru, but this will wind up as mere juxtaposition of the two: a superficial attempt at post-facto validation, which is a very different scenario from designing the proposal in simultaneous consonance with the master plan. The “rubber stamp” intention is reflected in the decision to launch tenders for the first phase while the new master plan is yet to be finalised and released in the public domain.

Capacity limits

Clearly, a strategy of responding to traffic congestion by increasing road space is bound to hit a point of diminishing returns. Traffic volumes will only increase and the rate of yearly increase has gone up sharply in recent years. If we add road space for use of private vehicles, we incentivise the use of these vehicles and increase the rate at which traffic load is piled onto the road network. If our only strategic choice is to periodically increase road widths, we will either wind up with a city where roads take up so much space that building is no longer feasible or a dystopia where we are all condemned to live under the bleak shadow of elevated roads.

We have to move to a strategy that attempts a radical shift in the mix of modes of transport to avoid hitting these capacity limits. The elevated corridor project reflects a continuation of the old strategy of only increasing road space and makes no attempt to define where the point of diminishing returns may lie. In the 1960’s the German mathematician Dietrich Braess postulated in a theorem, subsequently named the Braess Paradox, that road systems can behave in funny ways. We tend to assume that increasing road space will lead to improved traffic flow, but it may paradoxically lead to an increase in average journey time.

The project report does not name the Braess Paradox, but obliquely recognises it by acknowledging that the elevated corridors may incentivise road usage. While it asserts that many parts of the proposed system will serve traffic volumes beyond 2037, it surprisingly acknowledges that certain segments of the system will touch peak capacity by the base year of 2023. What happens after that, and the impact on the rest of the system, does not receive much attention.

Environment impact

The proposal will have a substantive environmental impact. It will not only change the look and feel of a major portion of the city but could have other significant impacts given that over 3700 trees need to be cut or transplanted, and some segments of the elevated corridors intervene into the area of existing lakes and heritage structures. The project report recognises that given the corridors are structures and not just roads they do have to undergo a stipulated process of statutory environmental approvals. The State Environment Impact Assessment Authority has very recently granted approval to the terms of reference of the project: the first stage in the environmental approval process. The details of how environmental impact is measured and mitigated is not publicly known as yet.

Financial viability

The financial viability of the project rests on collecting tolls for usage of the elevated corridors. But implementing this is not easy. The standard design solution for doing this is to construct toll plazas at the entrance into the toll corridor: in this case at the base of the entry and exit ramps to the elevated corridors. But in this project these highways are being inserted into densely built metropolitan areas, space is not available for toll plazas, and the report acknowledges that constructing toll plazas is not an available option. The alternative strategy is glossed over in a single line that states “toll collection by ERP [electronic road pricing] is recommended.” This strategy is not explained, and its feasibility is not examined in the report.

If an unorthodox strategy that avoids toll plazas turns out to be difficult to implement, tolls cannot be collected, and the entire financial viability of the project is thrown into question. There have been some statements made by the government that tolls will not be charged, but this is not yet confirmed, and if true the ultimate financial cost and how it will be managed is yet to be publicly disclosed.

Highway shoulders and resilience in traffic flow

The design of highways in India follows guidelines established by the Indian Roads Congress. These standards call for every highway to have a shoulder: a buffer space between the outer edge of the outer traffic lane and the boundary of the highway. Shoulders are not used on a routine basis. They provide the space for vehicles that need to pull over in case they are disabled or are involved in a fender-bender accident and need to stop to sort things out. Once this buffer space is available, such vehicles can stop without significantly affecting smooth traffic flow. Shoulders are also meant to provide a space where emergency vehicles (tow trucks, ambulances, fire tenders) can move to reach where needed. Shoulders build resilience into the continuity of traffic flow.

The project report on elevated corridors seeks to follow Indian Roads Congress standards, but notes one significant exception: due to the constraints on space within a metropolitan area, shoulders have been largely omitted. The impact of this decision on the resilience of the system is not studied.

Many gaps

The points noted above have come from a quick review of the elevated corridor proposal. A detailed study by people with greater expertise in the subject may yield even more. The point to be noted is that substantive lacunae can be observed even in a quick reading, and this is possible for a project that seeks to spend thousands of crores, which will have a substantive impact on the look and feel of the city, where it was sought to release tenders for the first phase in a tremendous hurry.

This is a symbol of the poor institutional capacity we have built in India for urban planning and governance. This is even more important at this point in history, for we are in India’s urban century where for the first time in history we will have a majority urban population (projected to happen around the middle of this century). The future of the country depends on the depth and creativity with which we imagine the Indian city, and Bengaluru’s elevated corridor project is not an encouraging sign.

The Winners of the 2019 MMA Real Estate People’s Awards Announced

The Winners of the 2019 MMA Real Estate People’s Awards Announced

Mumbai, 2019– Sanghvi presents Marketing Maverick Awards co-powered by SBI General Insurance announces the winners of the 2019 MMA People’s Excellence Awards.

MMA is all about giving the fraternity a glamorous glimpse into the world of Real Estate, luxurious, covering all aspects of high end lifestyle: the finest Amenities, Best Campaigns, Strategies, Financing and Construction and technology.

As Apartment consumption and the Real Estate market continues to grow, it is more important than ever to stand out from the competition. As such, MMA has introduced the 2019 MMA Real Estate People’s Excellence Awards.

Commenting on the success of these truly deserving winners, Yenki Ahuja, Awards Coordinator said: “These awards are a stamp of excellence, and all our award winners are part of an exclusive and illustrious group comprising of some of the most influential names in the Real Estate markets. It is therefore my honor to be able to wish them congratulations on this success- here’s to a great future.”

To find out more about these prestigious awards, and the dedicated establishments that have been selected for them, please visit : https://www.marketingmaverickawards.com/ where you can view our winners supplement and full winners list.

“It’s inspiring to be in a room with so many dynamic and creative Professionals and entrepreneurs,” says Yenki Ahuja, Director, The Cynical Marketer and Organizer of MMA. “Their businesses are a testament to what can be achieved through hard work and persistence. Through MMA, we are helping fraternity to realize real Talents and helping their business goals and creating a network of Trendsetters. These talents are paving the way to a more prosperous years ahead for the sector.”

The event included a panel discussion on Sales, Marketing, HR and Finance followed by business-to-business networking session to help the entrepreneurs forge important relationships with financial institutions, service providers and sector experts.

About MMA

Sanghvi presents Marketing Maverick Award co-powered by SBI General Insurance rewards all the right candidates who have achieved excellence in their work and contributing to the industry. The Cynical Marketers felicitate and celebrate the Hardworking behind the screen heroes of #Real-estate. Recognizing the main force and their contribution to Real Estate Industry silently shaping our infrastructure.

WINNERS LIST:

SCROLL OF HONOR AWARDS

  1. BABULAL VERMA – OMKAR REALTY
  2. VIKAS OBEROI – OBEROI REALTY
  3. ASHOK MOHANANI – EKTA WORLD
  4. SANDEEP RUNWAL – RUNWAL GROUP
  5. JITENDRA MEHTA – JVM SPACES – VP, MCHI-THANE
  6. MR. RAVI PURAVANKARA – PURAVANKARA GROUP
  7. MR. SANJAY DUTT – TATA HOUSING
  8. ROHIT GERA – GERA DEVELOPMENTS
  9. MR. NAYAN SHAH – MAYFAIR HOUSING, PRESIDENT CREDAI MCHI

SPECIAL AWARDS

  1. PRADEEP LALA – BEST CEO OF INTEGRATED MANAGEMENT SERVICES OF THE YEAR – EMBASSY SERVICES
  2. ASHISH KANAKIA – YOUNG ACHIEVERS AWARD OF THE YEAR -KANAKIA SPACES REALTY
  3. R A SHAH – CONTRIBUTION TOWARDS REAL ESTATE – TRENT
  4. MR. PARTH MEHTA – EXCELLENCE IN REAL ESTATE AWARD – PARADIGM GROUP
  5. VIJAY PANVELKAR – BEST DEVELOPERS IN AFFORDABLE HOUSING -PANVELKAR GROUP
  6. MR. RAHUL PANVELKAR – BEST COO OF THE YEAR – PANVELKAR GROUP

AWARDS

  • BEST PRESALES PROFESSIONAL OF THE YEAR – YASHA SARAF – SHRIRAM PROPERTIES
  • BEST SALES MANAGER OF THE YEAR – MAYANK RAI – PIRAMAL REALITY
  • BEST CHANNEL SALES HEAD OF THE YEAR – PRIYANKA MANTRI – OMKAR REALTORS
  • BEST LEGAL HEAD OF THE YEAR – VIDHYA VIJAY – ASHWIN SHETH GROUP
  • BEST ARCHITECT OF THE YEAR – GAJESH BADSEWAL – GMB VERVE
  • BEST CONSTRUCTION HEAD OF THE YEAR – AJAY BANCHHOD – L & T REALITY
  • BEST PROCUREMENT HEAD OF THE YEAR – SHRINATH NEENDOOR – THE PHOENIX MILLS LTD
  • BEST CSR EXCELLENCE AWARD OF THE YEAR – VIVEK MOHANANI – EKTA WORLD
  • BEST REAL ESTATE BLOGGER OF THE YEAR – DEEPSHIKHA DUTTA – REALTYNXT
  • BEST CHANNEL PARTNER OF THE YEAR – SOURABH UPADHYAY
  • BEST CRM MANAGER OF THE YEAR – APEKSHA SATHE – K RAHEJA CORP
  • BEST CTO OF THE YEAR – CHITRANJAN KESARI – KANAKIA GROUP
  • BEST DIGITAL AGENCY OF THE YEAR – TEAM SOCIAL BEAT
  • BEST PR CAMPAIGN OF THE YEAR – SONALI SHETTY – THE WADHWA GROUP
  • BEST DIGITAL MARKETING AWARD OF THE YEAR – TEAM SHRIRAM PROPERTIES
  • BEST ONLINE CAMPAIGN OF THE YEAR – UMESH JAWAR – ARIHANT SUPERSTRUCTURES
  • BEST BRAND MANAGER OF THE YEAR – PRADEEP SINGH – OMKAR REALTORS
  • BEST MARKETING CAMPAIGN OF THE YEAR – GOVIND RAI – THE BLUEPRINT
  • BEST ADVERTISING AGENCY OF THE YEAR – ANKIT NALOTIA – MO MANTRA
  • BEST IP/ EVENT/ ACTIVATION OF THE YEAR – SUMIT GUDKA – CREDAI MCHI THANE
  • BEST PRINT CAMPAIGN OF THE YEAR – ASHOK MOHANANI – EKTA WORLD
  • BEST SALES ELECTRONIC MEDIA CAMPAIGN OF THE YEAR (TV/ RADIO) MANISH BATHIJA – PARADISE GROUP
  • BEST INNOVATION IN REAL ESTATE EXPERIENCE – ADITYA THAKUR – VR GURU
  • BEST OOH CAMPAIGN OF THE YEAR – DHAWAL AJMERA – AJMERA GROUP
  • SBI GI BEST CFO OF THE YEAR – ATUL BOHRA – KOLTE PATIL
  • BEST HR HEAD OF THE YEAR – SHEETAL BHANOT – EDELWEISS FINANCIAL SERVICES
  • BEST PROJECT LAUNCH OF THE YEAR – ASHOK MOHANANI – EKTA WORLD
  • BEST WOMAN ACHIEVER IN SALES YEAR – ANJALIKA JANGYANI – RADIUS DEVELOPERS
  • BEST HR MANAGER OF THE YEAR – KESHUP GURBANI – K RAHEJA CORP
  • BEST WOMAN ACHIEVER IN MARKETING – VYOMA PANDIT – SHRIRAM PROPERTIES
  • BEST CMO OF THE YEAR – ARUN ANAND – SHRIRAM PROPERTIES
  • BEST CEO OF THE YEAR – RAHUL MAROO – OMKAR REALTORS

MMA would like to thank the partners without whose support this event would not have been possible.

  • SANGHVI – Title Sponsor
  • SBI GENERAL INSURANCE – Co Powered By
  • BILLS – Associate Partner
  • REPUBLIC TV – TV Partner
  • RADIO CITY – Radio Partner
  • FREE PRESS JOURNAL – Print Partner
  • MINIMAX – Outdoor Partners
  • RANK – Finance Knowledge Partner
  • 9AM STORIES – Online Media Partner
  • SPEAKING MINDS – Speaker Bureau Partner
  • SHK LIVE – Show Partner
  • INSIDER.IN – Primary Ticketing Partner

Election Commission likely to clear revised MNREGA wage rates

Election Commission likely to clear revised MNREGA wage rates

New Delhi: Going by precedents and instructions issued in the past, the Election Commission is likely to approve a Rural Development Ministry request to revise the wages under MGNREGA from April 1, a move that could benefit crores of beneficiaries across the country, sources said.

The wages paid under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) are linked with the Consumer Price Index for agricultural labourers (CPI-AL) and new wage rates are notified on April 1, the beginning of the new financial year. The ministry had approached the EC for approval as the model code is in force. The sources in the poll panel on Tuesday said going by precedents and instructions issued in the past, the request is likely to be granted.

They said the government would be specifically asked against publicizing the hike, if the request is approved. Different states have different wage rates so the increase in wages will also be different. The wages may remain flat in some states, while the increase could be up to 5 per cent over and above the current wage in others. The government in this year’s interim budget had proposed to allocate Rs 60,000 crore for rural employment scheme under MGNREGA for the year 2019-20.

The amount allocated for 2019-20 is 11 per cent higher compared to Rs 55,000 crore for 2018-19. The revised estimate for the year 2018-19 was Rs 61,084.09 crore. MGNREGA, a rural job guarantee scheme introduced in 2005, now covers all the rural districts of the country. The main objective of the scheme involves providing up to 100 days of unskilled manual work in a financial year to every household in rural areas as per demand, resulting in the creation of productive assets.

These photos prove that Sara Ali Khan is a Cutie pie

These photos prove that Sara Ali Khan is a Cutie pie

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Sara Ali Khan recently celebrated the success of her Bollywood debut Simbaa. The film was a big hit and paved her way into the Bollywood cinematic universe. Her acting and dance in the film were amazing. Now Sara Ali Khan is one of the cutest actresses in Bollywood.

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The cute look and tender age of Sara Ali Khan has given her millions of fans in the industry. Especially the teenagers are crazy about her. Sara Ali Khan is popular among the young girls who want to copy her cute style. Her cuteness and craziness has made her angel of Bollywood.

5 Shocking Facts About The Human Body

Good day to all of you, welcome to our channel. Here is an article about some shocking facts about the human body.

It can take 4-15 months for your blood vessels to fully recover from a sunburn:

5 Shocking Facts About The Human Body

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If you love your skin,then protect it from sun burn. If you are going outside, then apply sunscreen on your skin. Elders might have been telling you about this, please obey them.

Heart attacks are most likely to happen on a Monday:

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This could be due to drinking, or the unhappiness and stress of going back to work. So you should always make your lifestyle healthy and happy so that you don’t get heart attacks.

The acid in your stomach is strong enough to dissolve razor blades:

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We are not asking anyone to swallow razor blades, please never do so. We are just saying an example how strong is the acid in our stomach.

The surface area of a human lung is equal to that of a tennis court:

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You all might be knowing how long is the tennis court. Imagine this friends, the surface of your lungs is equal to this tennis court it seems.

Everyone has a unique scent, and family members tend to smell similar:

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You can check it out practically friends, most of the time twins smell the same scent. Do you agree with us friends? Tell me in the comment section below.

Cutest looks of Angelina Jolie and Kelly Brook : Angels on Earth

Hello guys welcome back to a new article in which I am going to show you beautiful looks of Angelina Jolie and Kelly Brook. There is no limit of beauty and attractiveness so here is my article which will hopefully entertain you enjoying these.

Cutest looks of Angelina Jolie and Kelly Brook : Angels on Earth

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Kelly brook is an English actress and model who is popularly known for her modelling in the UK and US. She is famous worldwide for her body figure. She has perfectly toned body and facial structure that can attract anyone.

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She was crowned FHM’s sexiest woman in the world. And her name is included in the top 100 world’s sexiest woman list every year since 1998. She is also connected with many charity organisations and collects funds for them.

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Angelia has been cited as the world’s most beautiful actress by various media services and other social media platforms. Her personal life is also very much interesting for public and has been a matter of discussion many times.

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Jolie had played the role of a video game heroine, Lara Croft in the Lara Croft:Tomb Raiders. She had married three persons but none of her marriage went successful for long. She is attracted more to females than males.