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McLaren Artura supercar arrives in India at Rs 5.1 cr with 330kph top speed

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British luxury supercar-maker McLaren Automotive on Friday introduced the all-new McLaren Artura in India for Rs 5.1 crore (ex-showroom, Delhi price), which is the company’s first-ever series-production High-Performance Hybrid (HPH) supercar to arrive in the country.

The Artura’s top speed is 330km per hour with 0-100 km per hour reached in just 3.0 seconds and 0-200 km per hour in 8.3 seconds, according to the company.

The Artura has full Plug-in Hybrid (PHEV) capability and can be charged to an 80 per cent level in 2.5 hours. The battery pack can also harvest power from the combustion engine during driving, tailored to the driving mode selected.

This provides the driver with a unique ability to enjoy the car in silent, pure EV mode with a range of up to 31 km and a top speed of 130km per hour, said the company.

“Our impact in the Indian market in our first year has been outstanding, and we look forward to continuing to provide our customers with exceptional service and the ultimate driving experience,” said Paul Harris, Managing Director — APAC and China, McLaren Automotive.

The Artura has four powertrain modes, covering every driving requirement: E-mode, Comfort, Sport and Track.

It has twin-turbocharged 3.0-litre V6 petrol engine combined with E-motor and energy-dense battery pack, produces 680PS (671bhp) and 720 Nm (530lb ft).

“We look forward to continuing to provide the finest customer service and thrilling driving experiences and with the introduction of the hybrid McLaren Artura supercar, we aim to provide our customers with the most cutting-edge automotive technology and design,” said Lalit Choudary, Chairman and Managing Director, McLaren Mumbai.

The redesigned platform works in conjunction with a variety of weight-reduction measures to produce a class-leading lightest dry weight of 1,395kg and best-in-class kerb weight (DIN) of 1,498kg.

McLaren’s cars are designed at the McLaren Technology Centre in Woking, Surrey, England before being hand-built at the adjoining McLaren Production Centre.

Business

Bank Of Maharashtra Q1 Earnings: Total Business Rises To ₹4,700,000,000,000

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The Bank of Maharashtra’s Q1 earnings were reported on the exchange on July 15.

The bank reported their revenue at Rs 6768.76 crore in Q1 FY25, a 24.9 per cent jump from same quarter previous year, which was reported at Rs 5,417.87 crore. The net profit stood at Rs 1,293.68 in Q1 FY25, which saw a 46.5 per cent jump quarter-on-quarter. The same quarter of the previous year saw a net profit of Rs 882,49 crore.

Between Q1FY24 and Q1FY25, the bank’s total business increased by 13.43 per cent YoY to Rs 4.76 trillion. However, compared to the same quarter previous year, the bank’s total deposits increased by 9.43 per cent YoY to Rs 2.67 trillion.

Gross and net NPA

Gross non-performing assets (NPAs) decreased marginally during the quarter, from 1.88 percent to 1.85 percent, demonstrating the resilience of asset quality (QoQ). At Rs 3,873 crore, gross non-performing assets (NPAs) were as of the last quarter, down from Rs 3,833 crore.

The bank’s meager 0.20 percent net non-performing assets (NPAs) did not alter. Net non-performing assets (NPAs) came in at Rs 415 crore, which is the same as the Rs 409 crore collected in the previous quarter.

Net NPAs for the bank held steady at a pitiful 0.20 percent. Net NPAs were reported at Rs 415 crore, which is the same as the Rs 409 crore figure from the previous quarter.

Net interest margin

The bank recorded net interest income (NII) of Rs 2,799 crore for Q1 FY25, up 20 per cent YoY from Rs 2,340 crore in the corresponding quarter of the previous year.

Share performance

The Bank of maharashtra’s share was trading around Rs 68.95 per share on Indian bourses, 5.95 per cent jump from the opening of The counter which opened at Rs 65.94 per share today.

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Business

Gold Price Jumps ₹400 To ₹75,050 Per 10 Grams On Jewellers’ Buying

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Gold price on Wednesday jumped by Rs 400 to Rs 75,050 per 10 grams in the national capital on the back of fresh buying from jewellers, according to the All India Sarafa Association.

The precious metal had closed at Rs 74,650 per 10 grams in the previous session.

However, silver prices remained flat at Rs 94,400 per kg.

In sarafa markets, the yellow metal was trading at Rs 75,050 per 10 grams, up by Rs 400 against the previous close, the association said.

Traders said gold prices saw an uptrend due to rise in domestic demand.

In the international markets, spot gold was trading higher at USD 2,380.50 per ounce, up USD 12.60 per ounce.

“Gold prices traded positively. The buying was driven by expectations of weak inflation numbers to be release on Thursday evening in US, which could prompt rate cuts by US Federal Reserve in the September meeting,” Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said.

Additionally, silver prices was also up at USD 31.25 per ounce globally.

“Spot gold closed with a gain of around 0.20 per cent at USD 2,363 per ounce on Tuesday, as the Fed Chair Powell, in his testimony to the US Senate Banking Committee, offered largely a balanced view on the US economy and the Fed’s monetary policy,” Praveen Singh, Associate VP, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas, said.

In his testimony, Fed Chair Powell said that the inflation trend is encouraging; however, the US central bank will need more data to gain confidence in cutting rates.

He (Powell) cautioned that lowering interest rates too little or too late could put the economy and the labour market at risk as inflation is not the only risk the US economy faces now.

“The US Consumer Price Index (June) data will be released on Thursday, which is crucial as traders look for possibility of rate cuts in September,” Singh added.

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Business

Mumbai: Red Fox IT Infra LLP Purchases 22 Office Units For ₹267.5 Crore In Andheri

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Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, purchased 22 office spaces at Andheri (East) for Rs 267.5 Crore. The office units are situated on the sixth, seventh, and eighth floors in the E Wing of Times Square Building.

About The Purchase

According to transaction details accessed by CRE Matrix, a real estate data analytics firm, the company paid stamp duty of Rs 8.02 Crore for the office units that collectively measure to 87,618 sq ft. While the deal for 18 office units was registered on May 3, 2024, the remaining four office units were registered on May 8, 2024.

Red Fox also purchased 88 parking spaces as part of the deal from NTPL Developers LLP and others. Recently, ICICI Prudential Asset Management Company purchased properties worth Rs 315 Crore in Santacruz (East).

ICICI Prudential Asset Management Company Ltd purchased 12 floors along with land, three basements, and a ground floor situated at Kalpataru Infinia from Ixora Properties Pvt Ltd.

According to the documents accessed by FloorTap.com, the marketplace for commercial properties, ICICI Prudential paid stamp duty of Rs 18.90 Crore to seal the deal that was registered on June 27, 2024. The total area of property is 63,733 sq ft and comes along with 114 parking spaces, the documents stated.

The Colliers India Research Report about India Office Market Snapshot in Q2 of 2024 stated that Mumbai recorded a significant 3.5 mn sq ft of leasing during the quarter ending June 2024, double the levels seen in Q2 2023, the city also had the highest incremental quarterly supply in the past 3-4 years.

It also stated that the vacancy levels remained rangebound amidst balanced demand-supply dynamics while a strong H1 performance has set the stage for office space demand to comfortably exceed 50 mn sq ft for the third consecutive year in 2024.

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