Kotak Mahindra Bank’s Q4 net profit grows 33%

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Mumbai, May 3 | Kotak Mahindra Bank on Monday reported a 32.8 per cent increase in its standalone net profit for the January-March quarter on a year-on-year (YoY) basis at Rs 1,682.37 crore.

During the same period of FY20, the bank had reported a standalone net profit of Rs 1,266.60 crore.

Net Interest Income (NII) for Q4FY21 increased to Rs 3,843 crore, from Rs 3,560 crore in Q4FY20, up 8 per cent and for FY21 increased to Rs 15,340 crore, from Rs 13,500 crore in FY20, up 14 per cent. Net Interest Margin (NIM) for Q4FY21 was at 4.39 per cent.

Covid-related provisions as on March 31, 2021, stood at Rs 1,279 crore. In accordance with the Resolution Framework for Covid-19 and MSME announced by the RBI, as on March 31, the Bank has implemented, for certain eligible borrowers, restructuring of Rs 435 crore (0.19 per cent of net advances).

As at March 31,, GNPA was 3.25 per cent & NNPA was 1.21 per cent. As on March 31, 2021, SMA2 outstanding was Rs 110 crore (0.05 per cent of net advances). Credit cost, excluding Covid-19 contingency provisioning, for FY21 was 84 bps of net advances (67 bps for FY20).

Capital adequacy ratio of the Bank as per Basel III, as on March 31, 2021, was 22.3 per cent and Tier I ratio was 21.4 per cent.

It further said that the Board of Directors of the bank has recommended dividend of Rs 0.90 per equity share having face value of Rs 5, for the year ended March 31, 2021, subject to approval of shareholders.

Source: IANS

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Handicraft Furniture setting a new trend in the interior and home décor industry

Handicraft Furniture setting a new trend in the interior and home décor industry

Furniture is one of the most prominent and significant aspects of any space. It adds a distinct depth and feel to the décor and enhances its beauty to the next level. Conventionally furniture was considered only as a side element while designing an interior. However, today the trend has changed; the limelight is on the furniture and furnishing elements. Young interior designers and architects are giving utmost importance to furniture and are heavily investing their time and efforts to get the best furniture for modern urban spaces.

Antique Handicraft Furniture

Saharanpur – the furniture city of India is renowned for its explicit patterns, wide motifs, and creativity. The city is home to some of the most skilled and proficient artisans and craftsmen. These creative enthusiasts are known for their attention to detail, intricate carving, and eye for perfection. The finishing and look of the furniture created in this city are beyond comparison. Craftatoz is one of the reputed furniture manufacturing companies in India. Established in the year 1989 in Saharanpur, the company has more than 300 trained and skilled workmen. The antique and eternal furniture created by Craftatoz sets the perfect symphony of texture and gives your space a stunning and grandeur appearance.

Furniture artefacts are one of the worthwhile investments. It not only augments the overall appearance of your room but also meticulously sets the whole ambience. The novelty and ethnic feel of antique furniture make it highly popular amongst the masses. The designers and interior decorators are hunting unique and exquisite antique furniture that connects one with the Indian roots. Craftatoz is one of its kind of handicraft furniture manufacturing company striving to preserve the Indian handicraft industry and introducing artistic handicraft furniture that is spectacular and awe-inspiring.

Preserving the art of Handicraft

Handicraft furniture online is a part of Indian heritage and culture from the Britishers time. Handicraft furniture speaks volumes about our rich history and love for art. Handicraft furniture is an integral part of our interiors and gives your premise an elegant touch. However, over the period of time with the introduction of modernization and machine-made furniture, the significance of handicraft furniture has been also affected to a great extent.  Furniture giants like Craftatoz are exerting themselves to promote the artisan’s talent and preserve the art of handicraft. They are bringing handicraft furniture to modern homes and preserving our legacy. Handicraft furniture is a seamless combination of modern art, style, and antiquity. They are unmatched and a true epitome of sophistication.

Handicraft furniture suits your décor and adds more splendor to it

The latest global trend in home furniture and decoration is Handicraft Furniture. Décor with the layer of Indian handicraft products and furniture creates an interesting décor and creates an impeccable melody of texture, color, fabric, styles, etc. Antique handicraft furniture in the form of mirrors, center table, jharokhas, Chandeliers, key holders, table lamps, corner tables, and much more. Handicraft Furniture is true alchemy of style and poise. They are an ideal fit for any modern urban or conventionally designed abodes. The handicraft wooden furniture celebrates luxury and creates a lavish feel.

The matchless collection of handicraft furniture

Handicraft furniture is never outdated. They are timeless and always in fashion. Other furniture styles may come and go but the love for Indian handicraft and artistic furniture is increasing at an enormous rate. A true lover of Indian culture and exclusive products is sure to get impressed by the sumptuous range of handicraft furniture offered by Craft atoz. The handicraft furniture can truly revamp your furniture and add a gleam to your interiors. Handicraft furniture is available in size, style, and pattern. The availability of premium grade handicraft furniture collection has led to an immense increase in the demand and utility of the same. Interior designers and décor experts are incorporating handicraft furniture to create a comprehensive mood of the space and give it a cutting-edge.

Taking furniture industry to newer heights

Like every industry, the furniture industry has also witnessed several ups and downs. The trends in the furniture industry are ever-evolving. There are continuous introductions and upgrades in this sector. However, the heart of the furniture segment is still ‘Handicraft Furniture’ the simplicity, quirkiness, antique touch, regal patterns and immersive feel of handicraft furniture still continue to mesmerize everyone with its grandeur and sheer opulence.

Handicraft furniture is at the pedestal and gaining substantial attention worldwide. They are widely acknowledged as one of the most reputed, credible, and authentic Indian art forms. The handicraft furniture reflects the legacy of the country and opens new avenues for Indian craftsmen and artefacts. Craftatoz with an aim to provide these artists global exposure and widespread Indian culture to every corner of the world brings a well-thought, finely detailed range of handicraft furniture that creates the cult and sets new milestones in the world of online furniture.

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