CEFC

Co-working firm EFC (I) Ltd's consolidated net profit jumped nearly 10-fold to Rs 21.17 crore for the quarter ended December. Its net profit stood at Rs 2.14 crore in the year-ago period. The consolidated revenues grew to Rs 173.69 crore during the October-December period of this fiscal as against Rs 26.38 crore in the corresponding period of this fiscal year, EFC (I) said in a statement on Monday. In the first nine months of this fiscal, the company's net profit jumped to Rs 35.37 crore from Rs 3.80 crore in the same period of the previous fiscal. The total income rose sharply to Rs 329.66 crore during the April-December period of this fiscal as against Rs 41.43 crore in the year-ago period. Umeash Sahhaaii, Founder and CEO of EFC (I) Ltd, said, "India is witnessing exponential growth in co-working spaces with it becoming a preferred choice among freelancers, SMEs, startups, and even MNCs for its flexibility and networking benefits." Pune-headquartered EFC has a presence in seve

Tata Technologies has come forward to set up three Common Engineering Facilities Centres (CEFCs) in the state by investing Rs 2,000 crore, to facilitate MSMEs, Karnataka Large and Medium Industries Minister M B Patil said on Wednesday. Representatives of the leadership team of the company met the Minister at Vidhana Soudha here on Wednesday and submitted the proposal in this regard, his office said in a release. The company has intended to set up these centres to facilitate, particularly the MSMEs, Patil said. The proposal is to set up the centres through the PPP model where Tata Technologies will have 70 per cent stakes and the rest 30 per cent stakes will be that of the state government, he added. This is said to be the first such proposal for setting up such centres for MSMEs. Each centre is estimated to cost about Rs 630 crores. The CEF centres will cater to Advanced Manufacturing 4.0, Electric Vehicle Testing and Aerospace & Defence, and vastly benefit the upcoming MSMEs and

Just six months ago, CEFC called itself China's largest private oil and gas company,now, it's being hit by a slew of bad news