Paytm Aims for PAT Profitability As It Grows Its Core Payments Business


During the company’s 24th AGM, Paytm’s leadership shared that with a compliance-first approach, the commitment is to build for India

Paytm, India’s leading payments and financial services distribution company and the pioneer of QR, Soundbox, and mobile payments, today held its 24th Annual General Meeting (AGM). The company’s leadership noted that their focus is on the core payments business and highlighted their commitment to delivering Profit After Tax (PAT) profitability, with a robust, scalable business.

Founder and CEO, Vijay Shekhar Sharma, addressed the shareholders and said, “With commitment to the core payments business, we aim to deliver PAT profitability soon.”

He further added that the company now has a compliance-first approach, rigorously adhering to all regulatory requirements. He also acknowledged the resilience of team Paytm over the past six months. “The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance and the way we operate from the inside out. I can now confidently assure that we have adopted a compliance-first approach, ensuring our business adheres to every regulation fully, both in letter and spirit,” he said.

Sharma further highlighted Paytm’s significant role in India’s digital payments revolution. Being the pioneers of QR code and Soundbox, Paytm has become synonymous with mobile payments in India. Prime Minister Narendra Modi recently highlighted these innovations for their significant impact on the nation’s financial landscape during his address at the Global Fintech Fest in Mumbai.

“Today, India stands at a stage where the world is acknowledging its digital payments revolution,” Sharma said. “Our achievements, particularly in mobile payments, have been the subject of global discussions, underscoring our role in this transformation.”

Being leaders in fintech and with a commitment to build for India, Sharma said that the team is ready to replicate the same success in Artificial Intelligence. “Our team is already utilizing AI across all areas—technology, product, business, and operations. Some of these technologies are so advanced that they could potentially form entire businesses on their own. However, we remain focused on our core payments business and cross-selling financial services,” he said.

Currently serving approximately 40 million merchants, Paytm aims to reach 100 million across the country, including diverse merchants such as rickshaw drivers and plumbers. The company’s strategic initiatives include leveraging advanced technology to offer financial services like loans, insurance, and mutual funds, thus broadening its market reach and promoting financial inclusion. The company’s strategy includes cross-selling loans, insurance, and mutual funds through partnerships with major banks and NBFCs, further solidifying its position in the market.

During the AGM, President and Group CFO Madhur Deora told shareholders that the company remains committed to bringing half-a-billion Indians to the mainstream economy through technology led services. He further highlighted the company’s strong financial position, noting a robust balance sheet with a cash balance of Rs 8,500 Crore.

Paytm recently secured the Foreign Direct Investment (FDI) approval from the Government of India and will soon apply for a payment aggregator licence from the Reserve Bank of India (RBI). As Paytm continues to grow, its focus on core payments, scalable business models, and a strong compliance framework underpins its commitment to enhancing financial inclusion across India.

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Anmay Restaurant celebrates successful grand opening in Bengaluru

Newly launched Anmay Restaurant brings authentic Andhra and Telangana flavors to Bengaluru with a blend of traditional and modern ambiance

12th September, Bengalur, India – Anmay Foods Pvt Ltd proudly announces the successful launch of its new dining destination, Anmay Restaurant, which opened its doors on September 12th, 2024. Located in HSR Layout, Bengaluru, the restaurant is set to make a significant impact on the city’s culinary scene.

The grand opening event was a resounding success, drawing enthusiastic crowds eager to experience the authentic flavors of Andhra Pradesh and Telangana. Guests enjoyed a vibrant evening filled with music and complimentary tastings of the restaurant’s signature dishes. The atmosphere buzzed with excitement as attendees explored the diverse and authentic Telugu menu, featuring rich and spicy Andhra curries, mouthwatering thalis, lip-smacking desserts, aromatic Telangana biryanis, and a variety of other traditional cuisines.

“We are thrilled with the warm reception we received at our grand opening,” said Mr. Suresh Muppala, pounder of Anmay Restaurant.

“It has been incredibly rewarding to see our vision come to life and to share the authentic tastes of Andhra and Telangana with the Bengaluru community. This project, Anmay, has truly been a dream come true. The support we’ve received has been overwhelming, and we are excited to continue serving our guests and celebrating the culinary traditions of Andhra Pradesh and Telangana,” he added.

In addition to its culinary offerings, Anmay Restaurant captivates with its intricate designs and welcoming ambiance. The restaurant’s interior blends traditional Southern Indian aesthetics with modern elegance, creating a warm and inviting atmosphere. Richly detailed decor, vibrant colors, and elegant furnishings reflect the cultural heritage of Andhra Pradesh and Telangana, enhancing the overall dining experience and offering guests a feast for the senses.

Anmay Restaurant’s commitment to delivering exceptional food and a memorable dining experience has already resonated with visitors. The team at Anmay Restaurant looks forward to welcoming more guests and continuing to provide a genuine taste of Southern Indian cuisine.

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SEALY OPENS NEW SLEEP GALLERY IN BENGALURU Launching a New Ultra Luxury Mattress Range

Bengaluru, September 11 2024, Scaly India is thrilled to announce the grand opening of Sealy Gallery in Bengaluru by Continental Bedding. Located in the prestigious VRR Rise building in Koramangala, this flagship store represents a significant leap in redefining luxury sleep for the city’s discerning clientele.

The opening was led by GSS Jagannath, General Manager of Sealy India, celebrating the opening with guests and the partners of Continental Bedding. Mr Jagannath saidMr Pavan of Continental Bedding is a long-time supporter of Sealy Posturepedic, having chosen our mattresses for his home and family to sleep on. His expertise and passion for the brand will ensure visitors to the Sealy Gallery experience personalized service and a fantastic range of products to choose from.” The spacious sleep experience space features stunning architect-designed décor and

showcases a comprehensive selection of the all-new Sealy Posturepedic collections. These combine Sealy’s world-leading technology with local craftsmanship and offer unparalleled comfort and support. “At Sealy we believe that a great night’s sleep is the foundation for your success during the day. Sealy Posturepedic represents world-leading support technology and sleep innovation. Sealy India recently opened its first manufacturing facility in Hyderabad to provide better service, with a product range tailored specifically to local consumer needs. We are proud to partner with Continental Bedding to launch this new range today,” The Sealy Gallery in Bengaluru offers a wide selection of Sealy mattresses, with prices starting at INR 55K and ranging to over 10 Lakhs. Known for blending advanced sleep science with world-class engineering, every Sealy mattress is designed to provide unrivalled comfort, support, and durability.

Sealy Posturepedic Palatial Crest models are fully imported and represent the pinnacle of luxury sleep. Sealy Posturepedic Elevate Ultra and Elevate collections are hand crafted by Sealy in India and feature Scaly’s patented support technology, premium comfort layers, and Ice Touch fabrics to help provide the healthiest, refreshing sleep. Finally, Sealy PostureSense collections offer a wide range of comfort options and are excellent value.

All areare invited to enter a world of luxury and sleep indulgence with the Sealy Gallery in Bengaluru by Continental Bedding, your sleep wellness destination. With personalized service, expert advice, and exclusive access to Sealy’s latest products, the Sealy Gallery is set to become a premier destination for those secking the superior support and comfort.

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World Lymphoma Day: Confronting Challenges and Offering Hope through Breakthrough Innovation

Estimated 25,000 new cases of DLBCL are diagnosed annually

In India, nearly 30-40% of people diagnosed with DLBCL do not survive for five years, which is worse than the global average 0% of all DLBCL patients relapse and face disease progression even after initial treatment.

The first FDA-approved therapy for first-line treatment of DLBCL in almost 20 years is now available in India

New treatment regimen reduce chance of the disease getting worse, relapse, or causing death by 27% compared to current treatment option

77% of patients who got the new treatment had no worsening of their disease after 2 years

As the incidence of lymphoma the most common type of blood cancer continues to rise steadily in India, the need for advanced treatment options has become increasingly urgent. Diffuse Large B-Cell Lymphoma (DLBCL), the most aggressive form of non-Hodgkin lymphoma (NHL), alone accounts for around 25,000 new cases annually in the country. Despite existing treatments, nearly 40% of DLBCL patients face relapse or disease progression, creating significant challenges for patients, their families, and the healthcare system.

However, there is renewed hope as the first FDA-approved therapy for first-line treatment of DLBCL in almost 20 years is now available in India. This breakthrough marks a pivotal milestone in the fight against DLBCL, offering patients access to cutting-edge care and the potential for improved outcomes.

Challenges in Diagnosis & Treatment Pathway

While DLBCL is a highly treatable and potentially curable form of blood cancer, mortality remains concerning, particularly in patients with returning disease (relapse/refractory).

In India, nearly 30-40% of people diagnosed with DLBCL do not survive for five years, which is worse than the global average.

A significant issue in the treatment pathway is misdiagnosis and delayed referrals by general physicians, which often result in compromised treatment efficacy.

Limited progress has been made in improving patient outcomes in previously untreated DLBCL over the last two decades. While many patients are responsive to initial treatment, as many as four in ten people do not respond to initial treatment or relapse within two years after initial treatment. These patients face limited treatment options, which adds to the emotional and psychological toll on them and their families, who live in constant fear of the disease returning.

A Breakthrough After 20 Years

For the first time in nearly two decades, there has been a groundbreaking advancement in DLBCL treatment with a new drug: Polatuzumab in combination with chemotherapy. This is the first FDA- approved therapy in nearly 20 years for the first-line treatment of DLBCL, a hard-to-treat disease and the most common form of NHL Polatuzumab is a first-in-class anti-CD79b antibody-drug conjugate (ADC).

Data from Polatuzunab trial data indicates a significant reduction of 27% in risk of progression-free survival, disease progression, relapse or death compared to the existing standard-of-care of Mab Thera/Rituxan plus cyclophosphamide, doxorubicin, vincristine and prednisone (R-CHOP)

Since the adoption of chemotherapy in 2002, approximately 11 clinical trials have failed to demonstrate Improved clinical outcomes for DLBCL. Polatuzumab’s success is a remarkable breakthrough. Globally, over 23,000 patients have been treated in the first-line setting, and the drug is now approved in more than 90 countries, underscoring its worldwide impact.

Polatuzumab in combination with chemotherapy is now also a preferred regimen for first line treatment of DLBCL treatment under National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology.

Meeting Unmet Needs in DLBCL

The best chance of preventing relapse in people with DLBCL is with effective and tolerable therapy at

the time they are first diagnosed and have received no prior treatment. When subsequent therapy is needed, the course of the disease tends to have worse outcomes.

Polatuzumab, an antibody drug conjugate (ADC), offers hope for such patients by targeting specific proteins on lymphoma cells and delivering cytotoxic agents directly to the cancer cell.

Clinical data shows a 27% reduction in the risk of progression, relapse or death in patients treated with

Polatuzumab in the first line. Furthermore, 77% of patients treated with this therapy were progression- free for two years, providing a lifeline to those who previously had limited options.

Dr Amit Rauthan, Head of the Department and Consultant Medical Oncologist, Manipal Hospitals said:
“In treating Diffuse Large B-Cell Lymphoma (DLBCL), providing the best possible treatment upfront can significantly improve the chances of cure with first-line therapy. Right diagnosis, proper subtyping and early initiation of advanced treatment options using monoclonal antibodies and antibody drug conjugates (ADCs) can not only enhance patient outcomes but also reduce the treatment burden in relapse settings, where salvage therapies are often costly and carry more side effects. Unfortunately, for patients in India who experience relapse or refractory (RR) DLBCL, prognosis is poor, and treatment options are limited.”

Dr Mallikarjun Kalashetty, Consultant Haematology, Haemato Oncology & Bone Marrow Transplantation, Manipal Hospital said: While blood cancers like DLBCL are highly treatable, delayed diagnosis and treatment often lead to poor outcomes for patients. Timely intervention is crucial. Innovative targeted therapies like Polatuzumab combined with chemotherapy have been a breakthrough in treatment, with clinical data showing that 77% of patients achieve two year progression free survival. This offers new hope, for a disease which has limited options after relapse or resistance to frontline therapy”

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The Diamond Power Play for Working Women

Bangalore, September 10,2024 : Transitioning between power to play, boardroom to casual is an art worth mastering. Today’s professional women look to blend their authority with style, leveraging the timeless allure of diamonds. They are more than just accessories, for closing deals or making lasting impressions natural diamonds are a statement of strength, confidence and individuality.



Natural diamonds carry a timeless appeal complementing the milestones women have achieved in their professional journey. The meticulously crafted design exemplifies sophistication paying tribute to women’s strength and achievements.


Here’s a guide to mark your presence through well-chosen accessories showcasing your personality:

Pendants & Necklaces
A well-chosen elegant pendant and necklace enhance your presence without overpowering your appearance. They also offer versatility, effortlessly transitioning from formal meetings to less structured interactions, ensuring that a professional woman remains stylish and put-together throughout her day.

Forevermark Avaanti Station Necklace and, Forevermark Icon Collection Pavé and Baguette Pendant

Earrings
Elegant earrings add a touch of sophistication and polish to any outfit. They can complement a tailored suit or blouse without overpowering the look, allowing women to express their personal style while maintaining a professional demeanor.

Forevermark Icon™ Collection Halo Stud Earrings and Forevermark Elements Collection Ear Studs

Bracelets
Diamond bracelets offer a refined way to express personal style, whether worn solo for a subtle touch of class during meetings or stacked for a more dazzling presence at after-hours events. It serves as a versatile accessory that complements a variety of styles, the right bracelet can act as a conversation starter or a symbol of personal achievement.

Forevermark Icon™ Collection Chain Bracelet and Forevermark Icon™ Collection Bypass Enamel Bangle

These timeless pieces embody the balance of strength and grace, allowing women to transition effortlessly from the boardroom to after-hours events. As symbols of enduring power and sophistication, they serve as the perfect companions in every setting, helping to reinforce a woman’s presence and confidence.

Explore the timeless beauty of our collections. Visit the brand’s official website or find the nearest De Beers Forevermark store to shop for these exquisite pieces. To locate a store near you, click here.



For more information, please visit Forevermark.com

City Today News 9341997936