JV to accelerate business process transformation for enterprises leveraging digital procurement platforms

BENGALURU, India and TOKYO, April 17, 2025 /PRNewswire/ — Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced Mitsubishi Heavy Industries (MHI) has invested in the Infosys-led Joint Venture HIPUS, enhancing Infosys’ presence in Japan. MHI is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense, and has established corporations like Hitachi Ltd., Panasonic Corporation and Pasona.

HIPUS, in which Infosys owns a majority stake, was set up in 2019, to drive high-quality, end-to-end procurement processes along with sourcing and category expertise, leveraging next-generation digital platforms for Japanese corporations.

MHI has been a longstanding customer of HIPUS and has now expanded the collaboration by acquiring a 2 percent stake from Infosys. Through this investment MHI aims to further explore new business opportunities in the region.

Anantha Radhakrishnan, CEO and MD, Infosys BPM, and Chairperson, HIPUS Board said, “Japan continues to be a strategic market for Infosys and HIPUS and we have consistently expanded our footprint in the region. This collaboration with MHI reinforces Infosys’ commitment towards building trusted collaboration with customers in Japan and accelerating their digital business process transformation journey. Infosys is excited to welcome Mitsubishi Heavy Industries to HIPUS.”

Isao Miyake, Head, Value Chain Headquarters, Mitsubishi Heavy Industries, said, “In our company’s ongoing efforts to upgrade procurement activities through a data-driven strategy, we expect HIPUS advanced analytics and support to significantly improve procurement operations, enable well informed decision making, and generate greater value across the organization.”

Kiyoshi Asami, CEO and Representative Director, HIPUS, said, “MHI has become an important client for HIPUS receiving a wide range of services. HIPUS is also executing MHI services beyond Japan, leveraging Infosys’ global presence as well as its strong sourcing and procurement services. We are extremely delighted that MHI has decided to invest in HIPUS and we look forward to an impactful collaboration.”

The transaction is expected to close during the first quarter of fiscal year 2026 (i.e. quarter ending June 30, 2025), subject to customary closing conditions.

About Mitsubishi Heavy Industries (MHI) Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com

About HiPUS

HIPUS Co., Ltd. promotes business process transformation and provide total procurement solutions with the procurement know-how cultivated over many years in the Hitachi Group as our business core. Since April 2019, Infosys has become our parent company, and we provide new, cutting-edge services that combine global knowledge and domestic skills in procurement processes, consulting, analytics, Gen AI, and other digital technology services. For more information, please visit https://www.hipus.com.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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The strategic content partnership is aimed at delivering insightful, high-impact content at the intersection of business, technology and blockchain for industry leaders and innovators.

MUMBAI, India, April 17, 2025 /PRNewswire/ — The Core, a leading digital business journalism platform in India is pleased to announce a strategic content partnership with pioneering blockchain technology company Algorand Foundation. The partnership will see expansive coverage of the evolving Web3 ecosystem through integrated podcasts, newsletters and video content. This collaboration comes on the heels of The Core recently completing 500 episodes of its flagship daily business podcast, The Core Report.

Algorand, founded by MIT professor and Turing Award winner Silvio Micali, is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput and low fees. Since its launch in 2019, Algorand has revolutionized industries, such as finance, supply chain, and digital identity offering an advanced proof-of-stake blockchain infrastructure that facilitates fast, secure and sustainable transactions. With a growing network of developers and enterprises leveraging its technology, Algorand is driving real-world adoption of blockchain solutions across the globe.

The collaboration between The Core and Algorand Foundation will showcase business challenges that can be solved by building on blockchain technology versus Web2, such as faster remittance, efficient identification and tracking provenance. It will highlight Algorand Foundation’s efforts to engage with universities, including the establishment of over 50 university blockchain clubs and the launch of developer training programs in collaboration with NASSCOM. The podcast series titled ‘Build on Blockchain’ will release weekly segments capturing domain experts who are building their products and solutions on blockchain, case-studies, etc. These initiatives aim to equip young Indian developers with skills in blockchain technology, fostering innovation and financial inclusion in the region.

Launching this new partnership, Anil Kakani, Vice President and India Country Head at Algorand Foundation, said “At Algorand, we believe in the power of blockchain to drive innovation and greater financial inclusion. Our partnership with The Core will amplify conversations with Web3 pioneers from India and around the world who are driving blockchain adoption and its transformative potential across industries.”

Govindraj Ethiraj, Founder & Editor of The Core, said, “Partnering with Algorand Foundation enables us to learn from and engage with cutting-edge technology, while also sharing real-time developments with our audience of decision-makers and industry leaders.”

This partnership with Algorand Foundation follows another recently concluded tech-content partnership between The Core and IT industry body NASSCOM for a podcast series titled ‘NASSCOM Conversations‘. Launched in 2023, The Core Report delivers sharp, insightful analysis on India’s economy, markets, regulations and technology’s transformative role in industries. Crafted for CXOs, business professionals and policymakers, the podcast has built a strong reputation as a go-to resource for in-depth discussions featuring prominent industry leaders, including A S Sahney, Chairman, Indian Oil; Nandan Nilekani, Cofounder, Infosys; Rajesh Nambiar, President, NASSCOM; Saugata Gupta, MD & CEO, Marico Ltd; Mark Mobius, Founder, Mobius Capital Partners LLP and many more.

For more details on The Core Report, visit: www.thecore.in; for Algorand Foundation, visit: www.algorand.com

About The Core:

The Core is a leading insights platform delivering sharp analysis and expert perspectives on India’s economy, finance, and technology. Through its flagship The Core Report, it provides concise, high-impact updates on markets, businesses, tech and policies that shape the nation’s future. Created for decision-makers and industry leaders, The Core distils complex developments into actionable intelligence.

The Core’s team of experienced journalists is led by financial journalist Govindraj Ethiraj who has reported and written on Indian business for over 25 years. More details on The Core at: https://www.thecore.in/; LinkedIn: @TheCore; Instagram: @the.core.in; X: @the_core_in; Facebook: @TheCore.in; YouTube: @thecore_in; Spotify: The Core Report

About Govindraj Ethiraj:

Govindraj Ethiraj is a television & print journalist & Editor of www.thecore.in as Editor. Previously, he was Founder-Editor in Chief of Bloomberg TV India, a 24-hours business news service launched out of Mumbai in 2008. Prior to setting up Bloomberg TV India, he worked with Business Standard newspaper as Editor (New Media). He also spent around five years each with CNBC-TV18 & The Economic Times. He is a Fellow of The Aspen Institute, Colorado, a McNulty Prize Laureate 2018 & a winner of the BMW Foundation Responsible Leadership Awards for 2014.

About Algorand Foundation:

Algorand’s mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand’s rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs and providing the framework for decentralized governance.

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AHMEDABAD, India, April 17, 2025 /PRNewswire/ — GTPL Hathway Limited, India’s largest Digital Cable TV Service Provider and a leading Broadband Service provider, announced its Financial Results for the Quarter and Financial Year ended  March 31, 2025.

Key Financial Highlights:

Key Consolidated Business & Financial Highlights: FY25 Annually                                      

• Q4 FY25 Total revenue stood at ₹ 8,989 Mn, a growth of 10% Y-o-Y
• FY25 revenue stood at ₹ 35,072 Mn a growth of 8% annually and Broadband Revenue grew by 4% annually
• EBITDA for Q4 FY25 stood at ₹ 1,144 Mn with an EBITDA Margin of 12.7% and an operating EBITDA margin of 22%. For the full year, EBITDA stands at ₹ 4,625 Mn with EBITDA Margin of 13.2% with an operating margin of 22%
• Q4 FY25 Profit After Tax stood at ₹ 105 Mn and the same for FY25 is ₹ 479 Mn
• For FY25, the board of directors has recommended a dividend of ₹ 2/- per share (20% of Face value)

*Operating EBITDA (%) = (EBITDA net of Activation & Other income) / (Subscription+ ISP + Other Operating income)

Operational Highlights

Digital Cable TV

• Active subscribers were 9.60 Mn as of March 31, 2025, achieving an increase by 100K Y-o-Y
• Paying subscribers stood at 8.90Mn, increasing by 100K Y-o-Y
• Subscription revenue from Cable TV stood at ₹ 2,982 Mn for Q4FY25 & ₹ 12,327 Mn for FY25
• Company signed Grant of permission agreement (GOPA) with Ministry of Information and Broadcasting for providing Headend-In-The-Sky (HITS) Services for a period of 10 years

Broadband

• Increase in broadband subscribers by 25K Y-o-Y thus standing at 1045K
• Broadband revenue increased by 4% to ₹ 1,358 Mn for Q4 Y-o-Y & ₹ 5,456 Mn for FY25
• Homepass as on March 31, 2025, stood at 5.95Mn – an addition of 150K Y-o-Y. Of the 5.95Mn, 75% available for FTTX conversion
• Broadband average revenue per user (ARPU) stood at ₹ 465 per month per subscriber, increased ₹5 Y-o-Y.
• Average data consumption per user per month was 396 GB, an increase of 11% Y-o-Y

Commenting on the results, Mr. Anirudhsinh Jadeja – Managing Director, GTPL Hathway Limited, said,

“It pleases me to report that the company has sustained its subscriber base across both business divisions reflecting the resilience within operations in an overall challenging industry environment. We continue to remain optimistic about our long-term strategies and our initiatives to capitalize on the evolving consumer trends. 

The upcoming financial year will be pivotal as we look to enhance our capabilities for distribution of TV services with material benefits expected to accrue over the medium term. We are constantly enhancing the ambit of our offerings, upgrading and implementing technological innovations and focusing on providing consumer centric services. We will continue to evaluate opportunities for growth across our businesses.”

 About GTPL Hathway Limited

GTPL Hathway Limited is India’s largest MSO providing Digital Cable TV services and is one of the largest Private Wireline Broadband service providers in India. The Company is the largest Digital Cable TV and Wireline Broadband Service Provider in Gujarat & is a leading Digital Cable TV Service provider in West Bengal. The Company’s Digital Cable TV services reach 1,500 plus towns across India in 26 states. The company enjoys an expansive network, comprising 47,000+ business partners, 200+ broadcasters, 1,750+ enterprise clientele, and active participation in 30+ government projects. The company offers an enviable catalogue of 950+ TV Channels with 130+ channels which are GTPL Owned & Operated Platform Services. As on March 31, 2025, the Company has 9.60 million Active Digital Cable TV Subscribers and 1.04 million Broadband Subscribers and a Broadband Home-pass of about 5.95 million.

Safe Harbor

Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company’s operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labor relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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