New Year Day Celebrated - Lanco Infratech Limited

A
IT Space
World Class
n imposing, classic design that competes with that of Manhattan
sets your work place at LANCO Hills. A sprawling IT Park, including ITSEZ, is part of this fascinating space. You have the pleasure of working in
an international environment where technology co-exits in harmony with
world class facilities to accommodate 75,000 professionals. The entire
area has been planned in such a manner where offices flow seamlessly
into the extensive landscaping outside. All this is encapsulated in 12
towers with pleasing architectural facades of different themes, making it
a visual treat for the beholder.
LINKS In House Magazine
| |Issue 22
8
to trigger sustained growth
Initiatives
Innovative
should lead to its internalisation, bringing in concrete results
to better our performance at all levels. I am sure the coming months
would see generation of more innovative ideas and their implementation,
triggering a fresh spurt of growth of the company.
he fiscal year 2007 is the most memorable in the
history of LANCO, registering exceptionally good
results in terms of turnover and profitability. The
maiden results, after a successful Initial Public
Offering, indicate not only our capabilities but also a strong
positioning to sustain and excel our growth in the years to
come. I am sure this tremendous growth rate, one of the
best in the industry, would further reinforce the confidence
of all our stakeholders.
The sheer size of India's infrastructure market is growing at a
fast pace and attracting the attention of global players. The
emerging business structures and rapid technological
changes are actually removing all geographical barriers,
redefining the competition on a global scale. The challenge
therefore is to remain competitive to achieve our goals and
continue to deliver value to the stakeholders. This indeed
calls for continuously creating differentiators through
innovation.
With innovation as the central theme of this year, our focus
must be on defining new business structures and models,
achieving cost-effective engineering solutions and
optimising business processes. Tom McGehee, a noted
market analyst, says, “It must be more than a programme, a
process or an initiative. It must be woven into the very fabric
of the company. When this is done, there are great benefits.
The company's ability to do what it says is greatly
magnified.”
I am happy to learn that many innovative initiatives are being
taken across the Group to trigger sustained growth. We have
initiated a number of power projects, aggregating to a total
of 4000 MW. We have shifted our power division to New
Delhi to bring in more efficiency and attract best talents,
thereby creating new synergies within the Group.
We are one of the first few corporates in India to realise the
benefits of Clean Development Mechanism from our
renewable energy business. We are also in the process of
developing approximately 250 MW from wind energy
sources. On the power trading front, the growth has been
phenomenal. We are now operating in all five regions of the
country spread over 15 States with 20 utilities. There is a
tremendous potential for the trading business in the
changing face of the power sector today.
We have created a space for ourselves in the construction
business. Today we have a strong order book of more than Rs
5000 crore. The implementation of our landmark realty
project - LANCO Hills with a target of 30 million sq feet builtup area is under progress. With the master plan having been
approved and architecture being given utmost importance,
the integrated township project is set to create new
benchmarks in the property development business. Besides
going for the state-of-the-art technology, we are ahead in
applying the latest facilities in the market to improve quality
and to reduce construction time from 10 days to seven days
per slab, setting new trends in the construction arena.
I believe the current performance levels are only an
indication of our potential and this should set the path for us
to accelerate our growth in the years to come. I am sure all
our stakeholders and investors are looking up to us to redefine benchmarks for the industry.
To make innovation more effective, it is very important to
manage collective knowledge, sharing of ideas and learnings
and effective utilization of human resources. We need to
re-emphasise to work as a team across the Group. We have
broad-based our leadership and management team at the
corporate level, keeping in mind our aggressive business
strategies and sustainable growth.
To have a culture of innovation within the Company, we have
instituted awards to make innovation more effective. This
beginning of institutionalising the process of innovation
should lead to its internalisation, bringing in concrete results
to better our performance at all levels. I am sure the coming
months would see generation of more innovative ideas and
their implementation, triggering a fresh spurt of growth of the
company.
LINKS In House Magazine
- L Madhusudhan Rao
9
| |Issue 22
Chairman’s Message
This beginning of institutionalising the process of innovation
A
World
Within!
Within!
LANCO Hills is a world within! It's a vision
that will redefine the landscape of
Hyderabad! It's the newest landmark to
give a fresh identity to this historic city.
Born out of a futuristic vision, LANCO
Hills is a self-contained city spread over
100 acres. This modern metropolis of
30 million sq feet represents a world of
luxury, comfort and convenience. With
the world's most renowned architects
being engaged to construct, this mega
project of Rs 5,500 crore gives a new
dimension to the art of living.
A sprawling IT park, an expansive mall of
2.5 million sq feet, a superbly laid out
entertainment zone, meticulously
designed apartments, international
class hotels and many more chosen
amenities spell seamless sophistication
and enviable exclusivity.
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|10 |Issue 22
LANCO HILLS - A WORLD WITHIN!
LANCO HILLS
LANCO HILLS
A Touch of
Magic!
LANCO Hills is an amazing experience of modern
living. The residential towers, shopping mall, club
house, luxury hotels, multiplex, landscaping and
the overall ambience, have an exotic touch. It is as if
you are transposed in a different world where
everything looks marvelous. It is as if a touch of
magic has transformed it into a paradise on earth.
At LANCO Hills, the high-profile living stands
redefined. All the fifteen r esidential towerr s rise in
elegant straight lines with living spaces that are the
ultimate word in luxury, comfort and convenience.
The imposing glass facades and aesthetic exteriors
Residential Tower
add to overall beauty and elegance. Meticulously planned interiors
achieve a fusion of form and functionality. Imposing foyers and high
speed elevators give a feeling of refined comfort. Wide glass
windows offer views of superbly manicured landscaping around the
towers.
Outside your residence is the c lub houss e , one of the best in the
world. An Olympic-sized swimming pool marks the beginning of your
refreshing experience. A world class spa and gym rejuvenates your
mind and body. Four home theatres, multi-cuisine restaurants,
well-appointed suites for guests, children's library and play areas
stand out for their marvellous strengths. And an exclusive street
experience has a number of surprises in store. Yes, Club house is
the place for indulgence!
A little away stands the s hopping mall l , one of India's largest,
spread over an area of 2.5 million sq feet. It is designed to give you
the most fulfilling shopping experience. The spacious parking area
can accommodate more than 8,000 cars at a time, the largest for
any mall. Other specialities include international brands, signature
stores, multi-brand super stores and more than 300 retail outlets
to explore the varied nuances of shopping. The recreation zone, one
of the largest in the world, has a 12 lane bowling alley, an ice-
Residential Tower
(Continued on Page 13)
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L Madhusudhan, Chairman - LANCO Group
LANCO Hills is going to transform the socio-economic
scenario of Hyderabad, besides emerging as the newest
landmark. The extent of IT, residential and retail space that
is envisaged will generate enormous employment potential.
All this is going to create a buzz in Hyderabad construction
sector which will have a spin-off effect in the overall
economic scenario in India.
S Pochendar, CEO - LANCO Hills
It is a customer-centric offering. Here the customer is taken
to a new level of experience making him live his life to the
fullest. The type of neighbourhood around, the idyllic
environment and the class of luxury that we are envisioning
are unparallel in the Indian realty sector. The emphasis is
on pleasing architecture, effortless mobility within and
without and an ambience where all your free time can be
spent. At LANCO Hills, the customer has the guarantee of a
high quality of life.
(Continued from Page 11)
skating rink, go-karting, rodeo drives and theme restaurants.
An exclusive exhibition and a grand convention centre for
premium events make Broadway a thing of the past. Well-lit
interiors and eye-catching landscaping provide a fantasy land
ambience.
Your need for refined entertainment is taken care of by the
recreation zone bringing to life the magic of movies in the most
magnificent setting. The 16 screen multiple
ex is fit enough for a
Hollywood premier. Awe-inspiring facades, world class acoustics
and perfectly planned amenities give the multiplex an
international touch.
And finally when you look for a place to stay, an array of
international luxury hotell s is at your service. A premier 5 Star
Hotel with 400 guest rooms and suites, international
banqueting facilities and globally acknowledged service brings
you the finest and best hospitality experiences in the world.
Similarly a deluxe business class hotel with a spacious
convention and exhibition centre and well appointed serviced
apartments with modern amenities provides an exhilarating
experience. Twelve speciality restaurants offering exquisite
dining experience come as an added bonanza!
Well these are some of the salient features of LANCO Hills, a
place where everything has a touch of magic, a place where you
can live the most memorable moments in your life!
LITL - lappl
Impressive
Annual Results 2006-07
Financial Performance
Lanco Infratech Ltd (LITL) has announced the audited results
for the year ended 31 March 2007, the first full year results
after the Initial Public Offering. It is also the maiden full year
consolidated results after the restructuring of the company. On
a consolidated basis the company has registered an impressive
total income of Rs 1,647 crore as against a total income of Rs
148.39 crore during the previous year.
The net profit for the year after adjusting minority and share of
profits of associates was Rs 188 crore as against Rs 17 crore
for the previous year.
There has been significant contribution to the profits from the
power segment, with construction and EPC business also
contributing in good measure.
Profit After Tax
Gross Revenue
(after minority interest)
1647
188
200
1500
1000
Rs Crore
Rs Crore
2000
148
500
0
2005-06
150
100
17
50
0
2006-07
2005-06
Financial Year
2006-07
Financial Year
IFC Acquires Equity Stake
in LANCO Amarkantak
International Finance Corporation (IFC), the private sector arm
of World Bank group, has signed an agreement to subscribe to
an equity stake of 5.84 per cent amounting to US$ 8 million in
LANCO Amarkantak Power Pvt Ltd (LAPPL). LAPPL, a special
purpose vehicle promoted by LANCO Group, is developing a
thermal power station in Chhattisgarh comprising two coalbased units of 300 MW each. The total project, estimated to
cost around Rs 2,600 crore, is scheduled for completion in
2008. DEG, the private sector arm of KFW, Germany has
already committed to having a 9 per cent stake in LAPPL and
with LANCO Infratech Ltd holding 75.16 per cent, the balance
equity would be held by other minority shareholders.
Sealing an historic pact between IFC and Amarkantak.
Reacting to the development LANCO Group Chairman L
Madhusudhan Rao said, “This is the first project of LANCO
Group with IFC and DEG as equity partners. This is a clear
demonstration of the confidence of multilateral financing
agencies in LANCO's projects. This would definitely pave the
way for more such partnerships in other projects of LANCO.”
LINKS In House Magazine
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|Issue 22
Cdm
ABAN Power, 4 Hydro Units
Registered as CDM Projects
LANCO's ABAN Power Company in Tamil Nadu and four hydro
projects in Himachal Pradesh have been registered as Clean
Development Mechanism (CDM) projects by the United Nations
Framework Convention on Climate Change (UNFCCC) based in
Geneva.
LANCO's existing biomass projects have already been
registered as CDM projects generating 75,000 CERs per
annum. With the addition of ABAN, LANCO will generate
approximately 3.3 lakh CERs per annum. LANCO is also in
the process of registering its other renewable energy
projects.
ABAN is the first natural gas-based unit worldwide to be registered
as CDM Project and will generate about 1.8 million CERs (Certified Elated over the development, LANCO Group Chairman L
Emission Reductions) over a period of ten years.
Madhusudhan Rao said, “It is delighting to know that ours is
the first natural gas-based power project to get CDM
The four hydro projects - 5 MW Baner III and 5 MW Iku II of Vamshi registration, helping the cause of GHG mitigation globally.
Hydro Energies Pvt Ltd and 5 MW Upper Khauli and 5 MW This achievement, along with the registration of our four
Drinidhar of Vamshi Industrial Power Ltd - are the first hydro hydro projects with UNFCCC, reaffirms our commitment to
projects of LANCO to be registered as CDM projects. The projects, developing clean energy and ability to define new business
which are under construction, are expected to be commissioned structures. I congratulate the team members of our hydro
by 2008. These four projects will generate approximately 70,000 division and ABAN on this remarkable achievement.”
CERs per annum.
New Address for EPC Team
The EPC team headed by Chief Executive Officer S Manocha has
moved into Gurgaon in Delhi. The new address is: LITL EPC
Gurgaon Plot No 229, Phase I, Udyog Vihar, Gurgaon
Ph 0124-4691000 Fax: 0124-4691005
LGPPL Sr GM CC Roy performing
puja marking the inauguration of the new
LANCO office at Gurgaon, Delhi.
LINKS In House Magazine
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GI Registration
Kondapalli Toys Get
GI Registration
Kondapalli Toys Get
GI Registration
Once a dying art, the art of making Kondapalli Toys is full of life
today, thanks to the pratronage provided by LANCO Institue of
General Humanitarian Trust (LIGHT).
The latest to happen to this 400 years old art is the grant of
Geographical Indication (GI) Registration. The Geographical
Indication Registry (GIR), Chennai, issued the certificate on 7
February 2007. The Registrar of GIR is the Controller General of
Patents, Designs and Trademarks.
Kondapalli Toys, now called Kondapalli Bommalu following the
registration, is the first hand-made toy in Andhra Pradesh to get
the coverted recognition. LIGHT, in collaboration with the
Confederation of Indian Industry's Andhra Pradesh Technology
Development Centre (APTDC), has facilitated the process for GI
Registration of Kondapalli Toys.
GI Means…
A geographical indication is a sign used on goods that have a
specific geographical origin and possess qualities that are unique
to the place of origin. Most commonly, a geographical indication
consists of the name of the place of their origin of the goods.
Agricultural products typically have qualities that derive from their
place of production and are influenced by specific local factors,
such as climate and soil.
Besides
legal protection, the certificate would prevent
unauthorised usage of the brand name. It would also ensure the
economic prosperity of artisans who produce the toys.
Geographical indications are protected in accordance with
national laws and under a wide range of concepts, such as laws
against unfair competition, consumer protection laws, laws for the
protection of certification marks or special laws for the protection
of geographical indications or appellations of origin. In essence,
unauthorised parties may not use geographical indications if such
use is likely to mislead the public as to the true origin of the
product. Applicable sanctions range from court injunctions
preventing the unauthorised use to the payment of damages and
fines or in serious cases, imprisonment.
LINKS In House Magazine
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Kondapalli Artisans Say:
It's a Great
Banala Nagulu
Karuna Kumari
Achievement!
In spite of being a 400year-old art, it was very
difficult for us to survive.
With the entry of LIGHT
into our lives, things have
begun to change. The
demand for our art has
increased manifold, with
clients even coming from
foreign countries. We are a
confident people today,
thanks to LANCO.
The demand for
Ko n d a p a l l i To y s i s
increasing day by day.
Our target is to cross Rs
1 crore as sales turnover
this year. At this point of
time GI Registration has
come as a great
blessing. Now our art
stands protected from
all sides.
We have been in the art of
making toys for the last
400 years. But the work
has not been sophisticated
and environment friendly.
After going through various
training sessions, we have
made great improvement
in the art of making toys.
This is evident from the
quality and look of the toys
made today.
In 2000 we sold our toys
to Lepakshi and also
through exhibitions in
different parts of the
country, earning around
Rs 3000 a month. But
today we earn around Rs
10000 a month. This
has been made possible
through the intervention
of LIGHT.
Delightful
Expressions of L ife
Kondapalli Bommalu provides delightful expressions of
life. The art has rich traditional values. The toys are made
of the wood of `Tella Poniki,' also called white sander,
found in the forests and hills adjoining Kondapalli village,
located about 20 km from Vijayawada in Krishna district of
Andhra Pradesh.
The wood is processed and carved into the desired shape
and size. Bahudara is an important tool used in carving the
toys. Vegetable and other traditional colours are used and
the themes chosen are mostly of rural life, mythological
figures and animals. Elephant ambari, toddy tree and
Dashaavatar are the most famous Kondapalli Toys.
Venkateshwara Rao
Sunita and Aswini
LANCO's
Inspiring
Role
It was a relentless struggle for Kondapalli artisans to
make both the ends meet till the end of the nineties. Until
then they barely sold toys worth Rs 1 lakh a year. But after
LIGHT entering their lives, the sales touched Rs 5 lakh in
2000. In 2005-06, toys worth Rs 10 lakh were sold. And
this year they are confident of reaching a sales turnover of
Rs 1 crore. Each artisan today earns Rs 7000 - Rs
10,000 a month.
It is one of the main objectives of LIGHT to promote
traditional arts, especially those which are on the verge
of extinction. Ever since its intervention in the lives of the
artisans making Kondapalli Toys, efforts have been made
to ensure a decent living for them.
LINKS In House Magazine
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Light
Stone Laid for
Common
Facility Centre
presided over the function. Sarpanch K Guravayya,
MRO Srinivas Rao, MDO P Susheela, ZPTC Puli
Tejaramma, DCH IHP Rao and APHDC Jaganmohan
Rao were present.
The Centre would serve as a common platform where
all Kondapalli Toy artisans could work together.
Besides ensuring quality, this would maintain a
standard format in making toys.
LANCO Corporate Affairs Director Sreenivas Veluri laying the
foundation stone for Kondapalli Artisans’ Common Facility Centre in
Vijayawada.
The foundation for a Common Facility Centre for Kondapalli
artisans was laid at Kondapalli village near Vijayawada on 8
February 2007. A bhoomi puja was performed to mark the
occasion. Sreenivas Veluri, Director - Corporate affairs of LANCO
Infratech Ltd and Coordinator of LIGHT, placed the foundation
stone. Mandal Praja Parishad President Cheruku Madhava Rao
The land for the centre has been provided by the
district administration. LIGHT, along with other
organisations, has pooled in necessary resources to
build the common facility centre for the artisans.
The centre would have a workshed with necessary
machines; a showroom to display the toys for sale; a
history room to preserve samples of each new design
with name and date of manufacture; and a lounge
where visitors could sit and relax.
Mobility Devices Given Away
Andhra Pradesh
Tamil Nadu
Camps were organised to distribute mobility devices
among differently abled people in Avanigadda and A
Konduru in Krishna district and Eluru in West Godavari
district during the period from January - March 2007.
A camp was organised to distribute artificial limbs among the
differently abled at Thirunageshwaram near Kumbakonam,
Tamil Nadu on 24 February 2007.
MLA Sri Buddha Prasad was the chief guest at the
camp organised by ALFC - Vijayawada at MPDO office
in Avanigadda on 25 March 2007. On the occasion,
26 artificial limbs and calipers were distributed.
Similarly at the camp organised by Indira Kranthi
Padam (IKP) at A Konduru mandal office on 5 March
2007, MLA Chinamolu Venkat Rao, who was the chief
guest, distributed eight artificial limbs and calipers. At
the distribution camps organised by IKP in Eluru on
26 January 2007, more than 100 artificial limbs and
calipers were distributed among differently abled
Karnataka
A camp was organised at Korgi in Udupi, Karnataka by ALFC Udupi in collaboration with local organisations on 6 February
2007. On the
occasion, 50
artificial limbs and
calipers were
distributed among
differently abled
people of the area.
LINKS In House Magazine
|18 |Issue 22
Light
Screening Camps
for Differently Abled
ALFC - Vijawada organised identification camps in
Tiruvuru, Chatrai, Mopidevi, Avanigadda, A Konduru and
Tiruvuru mandals of Krishna district.
An identification camp was held in Tiruvuru mandal on 22
March 2007, where 30 patients were screened. Earlier
another camp was conducted in the same mandal on 21
January 2007, selecting 30 patients for free mobility
devices. Similar camps were organised in G Konduru on
25 February 2007, A Konduru on 21 February 2007,
Chatrai and Mopidevi on 11 February 2007, and
Avanigadda on 30 January 2007.
A Computer
Wish !
LIGHT Chairman L Rajagopal handing over the Geographical Indication
Registration to Kondapalli artisans.
CII to Use Toys as Gifts
Master Madhu, a 15-year-old
boy suffering from a
terminally ill disease, always
dreamt of having a Computer
for himself. LIGHT came
forward and helped him realise his dream on 12
February 2007 with the Make-A-Wish Foundation
facilitating the process.
JHIC Junior
National Tennis
Confederation of Indian Industry (CII) Hyderabad placed an
order for 400 Ambari (8”) Kondapalli Toys on 16 February
2007 to be used as gifts at their Annual General Body
Meeting.
Aid to Take Part in Exhibit
LIGHT sponsored the participation of Kondapalli Artisans in the
exhibition of arts and crafts at Coimbatore in Tamil Nadu on 20
March 2007. The exhibition was organised by World Telugu
Federation to encourage the artisans.
LIGHT sponsored LANCO-JHIC Junior National Tennis
Series U/16 2007 from 26 February to 3 March 2007.
Andhra Pradesh Minister for Sports Shabbir Ali presided
over the award-giving function. LANCO Group Vice
Chairman G Bhaskara Rao spoke on the occasion.
Tournament
National Chess
Championship
The 14th National Chess Championship of the Deaf was held
at Chennai on 21 March 2007 by the All India Sports Council
of the Deaf. This event is conducted once every two years and
Andhra Pradesh State's Apex Body deputes players to this
event as per the calendar year. LIGHT sponsored 10 deaf
players - three senior men, three senior women and three
junior boys and a coach - to attend the event through the
Andhra Pradesh Sports Council for the Deaf.
LINKS In House Magazine
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28
Light
TERI CSR Excellence
Award for LIGHT
LANCO JMD DV Rao receiving Teri Award for CSR Excellence from Union Financé Minister
P Chidambaram in New Delhi.
LANCO's Institute of
General Humanitarian
Trust (LIGHT) has been
awarded the prestigious
Sixth TERI Corporate
Award 2006-07 for
Excellence in Corporate
Social Responsibility
(CSR).
LANCO's Institute of General Humanitarian Trust (LIGHT) has been
awarded the prestigious Sixth TERI Corporate Award 2006-07 for
Excellence in Corporate Social Responsibility (CSR).
In order to provide impetus to sustainable development and to encourage
ongoing process of environment management and social responsibility
within corporate sector, TERI instituted Corporate Environment and
Corporate Social Responsibility Awards. The awards were launched in the
years 2000-01 and 2001-02, respectively. Since then, it has been an
annual event involving corporates from a wide cross section of industry.
TERI Corporate Awards have been instituted to recognize leadership
efforts towards corporate social responsibility initiatives. The objective is
to encourage and provide momentum to innovative CSR initiatives. The
previous winners include Hindustan Lever Ltd, Oil and Natural Gas
Corporation Ltd, ITC Ltd, Bharat Petroleum Corporation Ltd and Satyam
Computer Services Ltd.
This year altogether 120 corporates applied for the awards, of which 10
were chosen. An 11-member jury, chaired by Justice JS Verma, selected
the winners after an intense screening process.
Union Finance Minister P Chidambaram, who felicitated LIGHT, said the
corporate sector was emerging as a critical player in India's development
process. Given this expanding role, the corporates had to live up to new
expectations from society, one of which related to the impact of the
corporate sector's activities on the environment and CSR initiatives.
“These CSR and Environmental activities are a road to greater profitability
and would create within the organisations a productive workforce sensitive
and proactive towards changes,” he said.
LINKS In House Magazine
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|Issue 22
THE LANCO DAY
Melodious film songs. Colourful banners. Floating balloons. Cool tropical breeze under the descending sun.
Shilpakala Vedika, an international platform for conventions and cultural events in Hyderabad, was much
more.
On Sunday, 4 February 2007, the centre that combines the cultural essence of Shilparamam, the newest
ethnic craft village, with the state-of-the-art facilities of Hitec City towering in the backdrop, transformed itself
into an elevating platform for Lanconians to celebrate their Annual Day - Unwind.
The curtains rang up with a variety of interactive games, the main attraction being the mummy contest,
reminding one of how the Egyptians balmed and buried their dear ones along with all their earthly
possessions. The hours-long interactive games were deftly interpersed with Digital Anand's mesmerising
beats, leaving the audience wowed.
However the highlight of the day was the mind-boggling performance staged inside the modern auditorim
with 2100 seats spread across. The show took off with a Laser show, followed by a video presentation on the
celebration of LANCO Day since 2005. The breath-taking performances by Aasma Group set the stage on fire.
Added to the visual treat was a 30 minute hilarious laughathon staged by Film artiste Shiva Reddy. His comic
spices set the auditorium resonant with peals of laughter.
In his message, LANCO Group Founder Chairman L Rajagopal was all praise for the excellent growth that
LANCO had achieved in a short time. He said it was the teamwork that made it happen. "LANCO is a big team,"
he said, pronouncing each word with extra emphasis.
Chairman L Madhusudhan Rao said he was elated to see so much happiness around. "We want to see
everyone happy. And making everyone happy is the essence of LANCO." Recalling LANCO's Year of
Leadership, he said it was the collective efforts that helped LANCO emerge as a key leader in 2006. The year
2007- LANCO's Year of Innovation should transform LANCO into a very big enterprise. The entire LANCO
community should support to realise this big dream, he added.
LINKS In House Magazine
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| |Issue 22
Festivity all Around!
Clown-ing for a Cause!
Posing a New Look!
Gateway to Unwind!
A Mohammed Ali in the Making!
Going Bananas!
Bowled
Over!
Sharing Heart’s Secrets!
Breaking to Catch up!
A variety of interactive games
that really bowled you over!
Chosen contests like the
Egyptian mummy, biscuit eating
and downing the chillie in a
bottle proved to be breathtaking as well as hilarious. To
top it all were the catchy
choices to corner priced gifts.
It's merriment par excellence!
Crowding to Relish!
Mehandi Charm!
Honouring an Octogenarian!
Joyous Moments!
Sky is the Limit
Thunderous Applause
Ready for Next Round!
Embalming to Win!
Laughing to Heart’s Content!
Challenging for a Fight!
A Pick for Luck!
Triggering Laughathon!
LANCOscape!
An action
packed evening!
Dancing to Excel!
A Frenzied Response!
A high-voltage Laser show
defining different aspects of
LANCO, video recap of
LANCO Day celebrations,
scintillating performance by
Aasma Group, laughathon by
film artiste Shiva Reddy and
mesmerising perforamnce by
a local dance troupe - it was
an action packed time inside
Shilpakala Vedika.
Height of an Episode!
Tickling Taste Buds!
LANCO Cricket Awards
LANCO DAY
Reaching out
for the Skies!
On to the stage trooped Aasma, a mixed band of young
Kudis and Mundas aiming for the stars up above. Young,
talented and raring to go, their presence had an
electrifying effect. They knew how to get the crowd
grooving. They began with their hit number Chandu ki
Chacha and moved on to belt out Hindi films hits like Dus
Bahane and Kya Mujhe Pyaar Hai, inviting the
enthusiastic ones from the audience to get on to the ramp
and shake a leg.
For the band members - Sangeet Haldipur, Neeti Mohan,
Vasudha Sharma and Jimmy Felix, the stage became a
wonderful canvas to paint their musical dreams, "where
there are no definitions or limitations". No wonder then,
the title song of their debut album talked of Aasma too Aasma Choo Lenge Hum... !
A Vocal Passion!
Digital Anand, a well-known mimic artist, wants to beat himself.
He handles with ease 36 musical instruments, each with a
distinct touch. As he gets lost amidst musical instruments, one
finds it difficult to distinguish the real from the un-real.
Way back in 1994, it was at Railway Institue in Vijayawada he
made his arangettam. Thereafter he has given shows in various
places, including at film functions and corproate gatherings.
Former Chief Minister Chandrababu Naidu spoke highly of him in
the Legislative Assembly in 1999. However the major break
happened only in 2002 when he was invited by Sriram Chits in
Tirupati. Mega star Chiranjeevi, who was present, was all praise
for his performance.
In fact the doctors have advised him to discontinue giving
performance as the pressure could damage his vocal chord. He
still plays because of the pressure from his fans. He has been
doing this for the last ten years. "It's my passion. I forget myself
when I give performances.”
LINKS In House Magazine
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|Issue 22
IN HOUSE
Stress on Making Power Affordable
LANCO Group Vice Chairman G Bhaskara Rao unfurled the National
Flag on Republic Day at LANCO House in Hyderabad. Speaking on
the occasion, Bhaskara Rao highlighted the need to make power
affordable for the common man. “If the telecom sector could
successfully reach out to the common man, we can also bring down
the cost of power generation and make power available at a low
price," he said.
Vice Chairman G Bhaskara Rao
Other senior managers also spoke on the importance of Republic Day
and the need to work towards bettering the lot of poor people in
society.
New Year Day Celebrated
A jubilant atmosphere prevailed at LANCO House in Hyderabad when
Lanconians gathered to welcome New Year 2007. Vice Chairman G
Bhaskara Rao lighted the lamp to mark the auspicious moment.
Speaking on the occasion, Bhaskara Rao said 2006 was a good year
not only for LANCO but also for the whole country. "It is for the first
time that all the sectors in India performed well. And we should
capture this momentum and move forward.”
LANCO to develop property in Chennai
LANCO Horizon Properties Pvt Ltd a newly formed
venture of LANCO Group, has entered into a Joint
Development Agreement for development of 47.58
acres of land located near SIPCOT Industrial Estate,
Siruseri on Old Mahabalipuram Road, Chennai. The
property would be developed as an Integrated
Township consisting of Residential Towers, Shopping
Space and Service Apartments with a built-up area of
approximately 4 million sq ft. The project is estimated to cost
Rs 600 crore and would be completed within 36 months from
the date of plan approvals.
Damn it! Can you
do anything right?
Par tner s for Life
Vishal Srivastava,
Executive - Administration,
LAPPL married Vandana on 3 February 2007.
G Narendra,
Engineer (Electrical),
CPCL married Swetha on 26 January 2007.
LINKS In House Magazine
|25 |Issue 22
ANPARA-mp pOWER
K Raja Gopal of LANCO and Sanjay
Bandhopaday of the Government of MP
signing an MoU in the presence of Chief
Minister Shivraj Singh Chouhan and Energy
Minister Kailash Vijayvargiya.
MoU Signed for
MP Power Project
Strategic Business Unit Coal (SBU - Coal) has signed a
Memorandum of Understanding (MoU) with the Government
of Madhya Pradesh for developing a power project based on
domestic coal.
The MoU was signed at Khajuraho in Madhya Pradesh on 17
January 2007 by K Raja Gopal on behalf of LANCO Infratech Ltd
and Sanjay Bandhopaday, Principal Secretary, Energy
Department, on behalf of the Government of Madhya Pradesh
for developing a power project of capacity 1200 (+/- 200) MW
in Madhya Pradesh.
Long-Term Coal Linkage for Anpara
LANCO Anpara Power Pvt Ltd has achieved another milestone
with the Ministry of Coal, Government of India transferring the
long-term Coal Linkage from UPRVUNL to the project at
Anpara in Uttar Pradesh.
Earlier the Ministry of Environment and Forest (MoE&F),
Government of Uttar Pradesh also issued NOC for the transfer
of forest land to LANCO Anpara. LANCO Anpara was accorded
approval from MoE&F, ToR (Terms of Reference) for collection
of environmental baseline data, based on proposal submitted
and presentation made before the members of the Expert
Committee of MoE&F on 14 February 2007.
The Airports Authority of India revalidated and extended NOC up
to 3 June 2010 for construction of chimney of 275 metres in
height.
NIT Issued for EPC Contract
LANCO Anpara issued Notice Inviting Tender (NIT) on 1 March 2007
for EPC contract through International Competitive Bidding (ICB)
route for its thermal power project atAnpara.
LINKS In House Magazine
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|Issue 22
LAPPL
Transmission Tower
MoU Signed for
Installed
Third 300 MW
Unit of LAPPL
LANCO Amarkantak Power Pvt Ltd (LAPPL) has entered into a
Memorandum of Understanding (MoU) with the Government of
Chhattisgarh and the Chhattisgarh State Electricity Board (CSEB) for
establishing the third 300 MW unit of the LANCO Amarkantak Power
Project in the State.
The agreement was signed by Principal Secretary, Department of
Energy Vivek Dhand on behalf of the Government of Chhattisgarh and
LAPPL Director and CEO K Raja Gopal on behalf of LANCO at Raipur on
10 January 2007 in the presence of Chief Minister Dr Raman Singh.
Application for
Coal Blocks
Strategic Business Unit Coal has submitted applications for 10 coal
blocks offered by the Ministry of Coal (MoC) to IPPs-four coal blocks in
Jharkhand, three coal blocks in Orissa, two coal blocks in Chhattisgarh
and one coal block in Maharashtra. These States have agreed, in turn,
to recommend LANCO to the MoC for allotment of coal blocks.
400 KV transmission line works for LANCO Amarkantak Power
Project are in full swing, with the installation of the first tower on
28 March 2007.
Meeting for Owner's Engineer Services at Faridabad on 4
January 2007. K Raja Gopal, Director and CEO of LANCO
Anpara, chaired the meeting. Also seen are AC Rae, VP
Technical, NN Murthy Raju, AGM and JV Ramana Murthy,
AGM-Civil.
LINKS In House Magazine
|29 |Issue 22
Nagarjuna
Work
Construction
in full swing
LANCO’s Nagarjuna Power Corporation Ltd (NPCL) has started
the construction work of its plant in Yellur village, besides
taking up rehabilitation work in Tenka village near Udupi in
Karnataka. The main area admeasuring around 420 acres has
been fully fenced, covering a distance of 7.6 km with a 15 feet
wide road all along the periphery. The whole area has been
cleared of all wild growth and the levelling work is in progress.
That apart, progress has been made at the rehabilitation site
where not only the fencing work covering a distance of 3.5 km
has been completed but also 100 plots have been made for
distribution among those who lost their land. The work of
providing electricity connection to each house/plot, street
lighting, 24 hours of water supply, sewage connection, road
along with common facilities, school building and
playground are in progress.
The 1015 MW power project's first unit is expected to be
commissioned by the last quarter of 2009 and the second
unit after a gap of four months. On commissioning, the
project would provide substantial relief to the power deficit
Karnataka.
ABAN
Surveillance Audit by
TUV
The first surveillance audit by the certifying body, TUV SUD
South Asia, Chennai, was carried out at the plant on 13 and 14
March 2007. The team recommended the continuation of the
certification for another year. ABAN also successfully
completed the audit, which did not report any nonconformances but only gave observations and suggested
opportunities for improvement.
PFC Officials Visit Plant
The Power Finance Corporation's
(PFC) Nominee Director and
other officials visited ABAN plant
on 17 March 2007. They were
welcomed by Vice President Operations V Ravindran and
other senior executives. They
went around the plant,
observing the engineering layout, house keeping and
pollution-free environment. They appreciated the efforts
taken to develop a greenbelt and establish a unique
rainwater harvesting system at the plant premises.
Safety Day Observed
ABAN celebrated the thirty-sixth
National Safety Day beginning on 4
March 2007 for a week. The same
day, safety oath was administered
to all the employees and
contractors.
Programmes like drawing
competition, slogan competition and quiz programme were
organised for the employees and contract workers and prizes
were distributed among the winners. A family meet was held on
10 March to mark the end of the Safety Day celebrations. On
the occasion, various programmes were organised for the
family members.
DRO Visits
The District Revenue Officer (DRO) made a visit to the plant
on 3 January 2007. He went around the plant and
appreciated the house - keeping, green belt development
and plant layout.
Republic Day Celebrated
As part of the celebrations of Republic Day on 26 January
2007, two awards have been instituted - one for the best
safety person and the other for the best performer. Earlier
Vice President
Operations V Ravindran hoisted the
National Flag and inspected the march past.
LINKS In House Magazine
|30 |Issue 22
LKPPL
36th National Safety Day
State Level
Awards for
Genting
Madhukar Wins
Bronze in Kho Kho
G Madhukar of LANCO Kondapalli Power, who is also
a Kho Kho National Team Player, won bronze medal
for Andhra Pradesh in the 33rd National Games held
in Guwahati, Assam from 9 - 18 February 2007.
Madhukar has so far played in 40 Nationals, four
National Games and two Internationals. He has
played twice for the Indian Team - one in the AfroAsian Games in Hyderabad and the other in the
Asian Games in Dhaka, Bangladesh. He has
received the best player award five times.
LKPPL
Shifts to New
Premises
Genting LANCO has won two State level awards for the entries sent in
connection with the National Safety Week celebrations.
V Madhusudana Rao, Administration Officer, Genting LANCO Power
(India) Pvt Ltd, won the First Prize for his poem in English. V Bhaskar
Rao, Plant Control Engineer, Genting LANCO Power (India) Pvt Ltd won
the Second Prize for his poem in Telugu.
As a part of National Safety Week celebrations, competitions like
poster painting, essay writing, slogan writing, safety poem writing and
safety quiz were conducted for the employees, housewives and
children. Some of the best entries received were forwarded to the
National Safety Council, Andhra Pradesh Chapter for State-level
evaluation and selection. The awards were given away at a function
organised at Indira Priyadarshini Auditorium in Hyderabad on 4 March
2007.
Laurels for Fire Team
Timely intervention by LKPPL Fire Fighting Team avoided a major fire
mishap in Vijayawada on 27 February 2007.
The address of the new Corporate Office of
LANCO Kondapalli Power Pvt Ltd (LKPPL) is:
Dharani Devi, II Floor, Plot # 565, Phase - III,
Road # 92, Jubilee Hills, Hyderabad - 500
033. Phone: + 91 40 2355 1045/2355
1046; Fax: + 91 40 2355 1093.
Alerted by Ibrahimpatnam Police Station, the fire fighting team under
the supervision of Safety Manager G Vishnu Murthy reached the
building of AgriGold office on the fourth floor. Within 10 minutes, the
fire tender was put into service. And it took a few hours to bring the
raging fire under control.
Local newspapers and electronic media covered the incident, lauding
the efforts of the LKPPL team in controlling the fire. The Deputy Chief
Inspector of Factories, Vijayawada presented them awards during the
Safety Day Celebrations in March 2007.
LINKS In House Magazine
|31 |Issue 22
Inspiring Growth
LKPPL
LEUL
Power Trading
Turns One Year
LANCO Electric Utility Limited (LEUL) successfully completed
its first full year of operations on 31 March 2007. LEUL also
achieved the distinction of operating in all the five power
regions of India, covering 20 utilities, both public and private
spread across 15 States.
LEUL also entered a new segment of power trading - banking,
a segment being operated exclusively by PTC and NVVNL.
LEUL is the first private player to successfully tie up and
operate the banking arrangement between PSEB & APPCC;
PSEB & BESCOM and PSEB & MPPTC.
LEUL traded 741.45 MUs of energy with a turnover of Rs
325.61 crore during the financial year 2006-07. In the last
quarter of 2006-07, LEUL added a few new customers to its
portfolio by tying up sale of power with the Noida Power
Company Ltd, the Tata Power Company Ltd (both private
distribution licensees) and the Andhra Pradesh Power
Procurement Centre.
LEUL also operated trilateral arrangements between PSEB,
NPCL and CESC to help them meet their load requirements.
LEUL has therefore demonstrated that though it is one of the
late entrants in power trading, it is a force to reckon with. It
has a technically and financially strong team that is able to
cater to all types of power trading needs of its esteemed
clientele. LEUL team is charged up with innovative initiatives
LEUL also facilitated the signing of a long-term PPA for to develop the trading business.
101.50 MW between Nagarjuna Power Corporation Ltd and
Punjab State Electricity Board during the year.
The month-wise quantum of power traded during FY 2006-07
LINKS In House Magazine
|
32
|Issue 22
LITL-LGPPL
Rs 102 crore
Construction
Works Bagged
LANCO Infratech Ltd (LITL) has won the bid for three
construction projects worth Rs 102 crore in Karnataka and Tamil
Nadu. As of today, the order book of the construction and EPC
division of the company stands at more than Rs 5,000 crore.
The projects include upgradation of public health centres to
community health centres and taluk level hospitals for the
Karnataka Health Systems Development and Reforms Project
worth Rs 55 crore, construction of institutional buildings for
Government Medical College at Belgaum for the Public Works
Department, Karnataka worth Rs 41 crore and supply and laying
of 600 mm dia DI pipe for the Chennai Metro Water Supply and
Sewerage Board, Chennai worth Rs 6 crore.
LITL has also been pre-qualified for construction of IT and
Corporate Tower with ICE Mall at Bhubaneswar for the Orissa
Industrial Infrastructure Development Corporation, construction
of new terminal building at Khajuraho Airport for the Airport
Authority of India worth Rs 53 crore, construction of institutional
buildings worth Rs 65 crore for the National Institute of
Technology, Warangal, Andhra Pradesh, construction of
additional general pool office accommodation at Kavadiguda,
Secunderabad, Andhra Pradesh for CPWD, Government of India
worth Rs 25 crore and construction of dwelling units in Chennai
for married accommodation project worth Rs 27 crore.
PROMOTIONS
The following persons have been promoted
and placed in the positions mentioned against their
names.
LITL
L Yugandhara Babu - Executive Director (F)
Dharma Teja - Executive Director
T Adi Babu - Sr VP (F)
Dr KP Kumar - VP (HR)
VN Pradeep Kumar - AGM
MVSN Mahidhar Rao - AGM
LKPPL
Rakesh Gupta - Chief Operating Officer
A Srinivasa Rao - VP
D Krishna Rao - Company Secretary (ED level)
K Satyanarayana - Sr GM
VV Rao - DGM (Maintenance)
ABAN
V Ravindran - Chief Operating Officer
R Parthasarathy - VP (F&A)
BV Udayakumar - GM (Operations)
S Kathir Kamanathan - DGM (F&Com)
LINKS In House Magazine
LAPPL
G Ramatheerthan - DGM
LGPPL
Murali Subramanian - Chief Operating Officer
Ch Chalapati Roy - VP
Veerendra Kumar Achanta - Company Secretary
(AGM-level)
VHEPL
G Anjaneyulu - AGM
LEPL
BK Sharda - Chief Operating Officer
NPCL
KS Balachandra - ED (Technical)
LEUL
MN Ravi Shankar - Director
CPCL
PS Chakravarthy - AGM
|33 |Issue 22
Hr FOLIO
National Meet on Key HR Issues
The national HR meet of LANCO was organised in Hyderabad on companies of LANCO Group. Various HR issues like manpower
23 March 2007 to understand the key issues related to HR, planning, PMS, training and development, payroll, statutory
standardise HR system and propose uniform HR processes to compliance, insurance and retention strategies were discussed.
offers better services to the employees.
The delegates decided to meet once every two months to
The programme was attended by HR staff from all the improve service levels and provide solutions to all HR-related
problems.
Training and Development Programme
Pe r s o n a l E f f e c t i v e n e s s
Programme (PEP) was
organised for the Managerial
Staff on 18 and 19 April
2007. Facilitated by Ramesh
Partani of Prasanna Trust at
Taj Deccan, the programme
presented a unique blend of
science and spirituality to
impact at a deep level
creating a lasting
transformation.
Crucial Conversation training
programme was organised
for the Senior Executives on
26 and 27 April 2007.
Facilitated by Sandeep
Bhudiraja of Door Consulting
at Novotel, the programme
presented tools to handle
life's most difficult and
important conversationspeaking on one's mind to
achieve a positive outcome.
Personal Excellence
Programme was organised
for the Non-Managerial Staff
on 10 and 11 May 2007.
Facilitated by Raghavan of
TCG at Walden Whisper
Valley, the programme
emphasised the values of
positive attitude, people's
skills and presentation skills,
followed by psychometric
assessments.
LINKS In House Magazine
|
34
|Issue 22
Business Etiquette and
Grooming was organised for
the Sub-Staff on 26 and 27
May 2007. Facilitated by P
Prasad and Ronald of
Prasanna Trust at Taj Tristar,
the programme focussed
on understanding the
values of life, discipline,
courtesy, punctuality,
hospitality and etiquette.
Face To Face
In pursuit
of Consistent
Value
System,
Human Connect
Nagaprasad Kandimalla, Director and Chief Executive Officer
responsible for Renewable Energy and Carbon Assets, loves to take
on challenging assignments. This streak is particularly evident in his
career, taking off from the financial services, then moving into the IT
filed, and now working in the power sector. “I am always willing to
explore and lead new initiatives. I believe in the importance of being
candid, developing leaders, building effective teams and cultivating
good relationships with people around. It is the human connect,
founded on a consistent value system, that matters most in my life,”
he says. In a chat with LINKS, he opens up further.
What have been your most delightful moments at LANCO?
Joining LANCO and being part of the organisation's explosive growth
itself is very delightful. It has been very satisfying to enhance the
value by way of top-line and bottom-line performance of the
businesses that I have managed. The initial success on the CDM
front promising tremendous future opportunities is very exciting.
As head of LANCO's CDM initiatives, what is your vision?
The carbon business is rapidly emerging in the international
markets, which is creating high potential opportunities for us. We
have made remarkable progress by registering five projects as CDM
projects so far and also working on opportunities in the voluntary
emission reductions market. At this point it is important to continue
our efforts to understand the evolving frameworks and markets and
bring innovation in our strategy and execution. Our vision is to
maximise value in the long run and emerge as an environmentally
responsible group.
What is the future plan for the renewables?
Our corporate strategy to have a diversified power portfolio, coupled
with the emerging carbon markets, has created a driving force to
move aggressively into the renewables. We are working on the wind
projects with a plan to develop about 400-500 MW in the near
future. We are also closely observing the opportunities in the solar
energy and emerging renewable sectors.
What do you think is necessary to be highly effective in business
management? What has been your approach?
I think a right combination of mindset to set aggressive targets,
innovation that can differentiate and leadership team that can
deliver will produce good results. We need to have a shared vision
LINKS In House Magazine
Nagaprasad Kandimalla
Director and Chief Executive Officer
Renewable Energy and Carbon Credits
and strong commitment to the organisational value
system. I try to put additional efforts in planning,
communication, team building, collaboration, review of
key performance indicators from time to time and driving
continuous improvement at all levels.
You are known for speaking on leadership qualities and
other soft skills. Your comment.
Soft skills assume great significance in the knowledge
economy where one has to genuinely learn, continuously
improve and freely interact with people both at work place
and outside. This, along with my reading habits, motivates
me to explore people around, as there is a lot to know and
learn from them.
Tell us something about your family. How do you relax
when you are off office work?
Family support is very critical to be able to deliver
professional responsibilities. I consider myself fortunate in
this regard. My wife Latha takes care of the family, leaving
me to focus on business priorities. Our children Akhil and
Likhita are in school. I find time to relax by reading books,
playing cricket and badminton. But my best relaxation
happens when I visit my native place and spend time with
my parents and dear ones.
|35 |Issue 22
IN PERSON
PositiveVibes
all the Way!
Just after his Post-graduation in Commerce, N Gurumoorthy,
often called Guru, joined LANCO Industries Ltd at Tirupati as
Junior Accountant in 1994. His first assignment was to take
care of petty cash payments and day-to-day accounts, besides
doing secretarial work. “I had the great opportunity to work
with the Promoters and saw them build up LANCO. Their zeal
drove every Lanconian to work as a team to complete the
project,” he says. In 1998, he was transferred as Commercial
Officer to the Project Department headed by DV Rao for setting
up the Cast and Ductile Iron Pipe Project. On commissioning
the project, he was transferred to Clarion Power Corporation Ltd
as Deputy Manager - Commercial and subsequently to LANCO
Green Power Pvt Ltd as Manager - Commercial. “I am proud to
be part of this team,” he says flashing a big smile. His wife
Bhanu Rekha is a home-maker. G Vignesh, their only child, is in
school.
N Gurumoorthy
Manager - Commercial
LANCO Green Power Pvt Ltd
Beyond
the Mundane
Janakiram Rao landed in Hyderabad with a degree in science
from Mumbai University way back in 1992. He did not have any
specific plans, except that he had to have the wherewithal to
take care of his parents. That was how he landed a job in LANCO
as Administrative Assistant. Even then his focus continued to
remain on a long journey of self-discovery. “I was not content
with my life. I was looking for a solution to the problems milling
around. I went to different holy places, read several books and
attended discourses to unravel the mysteries of life. In the
process my career took a beating. Of course my pursuits helped
me discover my self. But now I realize that I need to grow in my
career as well.” Well, true to his realisation, he has now joined a
university to do his MBA. His wife Sreevalli works as a Process
Associate in a multinational company and daughter Aishwarya
is in school.
LINKS In House Magazine
Janakiram Rao
Administrative Assistant
LANCO Infratech Ltd
|
36
|Issue 22
HUMOuROLOGY
Humourology
H
umor has benefits that are
actually measurable.
According to a recent study
done on people both before and after
a thorough laughing session, it is
found that laughing lowers blood
pressure, releases natural pain killers
and boosts the immune system. Not
bad for having fun! Some of the other
findings are: 100 laughs = 10
minutes of aerobic benefits from a
rowing machine; 15 minutes of
laughter = relaxing effect of
meditating for eight hours; and 10
minutes of laughter = relaxing effect
of two hours of sleep. Humor is
beneficial to the human spirit as well
as to the body. Question is: Is there a
place for humour and fun at the
workplace? The question assumes
significance in view of the benefits
discovered: A boosted immune
system that translates into a healthier
work force, keeping meaningless sick
days away from work. Lower blood
pressure, combined with the release
of endorphins, means a more relaxed
person. And a more relaxed person
has higher productivity, is more
efficient, more accurate, has higher
energy and works with greater
purpose!
Ramu was standing in front of a
mirror with his eyes closed.
His wife asked him: What are you
doing?
"That's wonderful!" the artist
exclaimed, "What's the bad
news?”
Ramu said: I am seeing how I look
while sleeping!
With concern, the gallery owner
replied, "The guy was your
doctor.”
Teacher: Pappu, your composition
on "My Dog" is exactly the same as
your brother's. Did you copy his?
Guide: "I welcome you all to the
Niagara Falls, one of the world's
biggest waterfalls. The sound of
the waterfall is so high, that even
20 supersonic planes passing by
can't be heard.
Pappu: No teacher, it's the same
dog!
Husband: When I get mad at you, you
never fight back. How do you control
your anger?
Now may I request the ladies to
keep quite so that we can hear
the Niagara Falls!”
Wife: I clean the toilet...
Husband: How does that help?
Wife: I use your toothbrush.
Teacher: If all marriages are made
in heaven, what is made in hell?
Boy: The days after marriage!
An artist asked the gallery owner if
there had been any interest in his
paintings currently on display.
"I've got good news and bad news,"
the owner replied. "The good news is
that a gentleman inquired about
your work and wondered if it would
appreciate in value after your death.
When I told him it would, he bought
all 15 of your paintings.”
LINKS In House Magazine
|37 |Issue 22
- Sreenivas Veluri
IN HOUSE
By Pradeep Lenka
Innovation
Joseph Schumpeter, a noted Austrian
economist, is of the view that
entrepreneurship is closely linked to
innovation. Influenced by Schumpeter,
Peter Drucker in his book titled ‘The Practice
of Management’ (1954) claims that
managers really have two jobs - innovation
and marketing. Later, in another book
‘Innovation and Entrepreneurship’ (1985),
he argues that innovation is a core part of
management, founded on a recognised set
of management practices. "Innovation is a
little like virtue; everyone likes to have more
of it, but few know how to get it and fewer
know how to keep it.”
The Oxford English Dictionary defines 'innovation' as something that is new or novel, but that definition
will not suffice in the world of business. What we are looking for is innovations of commercial value.
Examples of great commercial innovations include the factory system, the transistor radio and the
electric light bulb or more recently, the World Wide Web and the desktop computer. Innovations are
sometimes associated with major scientific discoveries, but often they develop as a result of fairly minor
scientific and technological advances. Often there is no science involved at all: Someone simply dreams
up a new way of doing things which everyone else had overlooked.
Understanding of
Today we do not associate innovation with just science, but more generally with knowledge. In time to
come, it may be that the study of innovation will be absorbed into the broader emerging field of
knowledge management. The working definition of innovation therefore is: The development of new
products and processes from which the business can derive commercial value and profit.
It is important to distinguish between product innovation (doing new things) and process innovation
(doing the same thing but in newer and better ways) when discussing innovation. Product innovations are
the best-known and make headlines and good PR. Today's business relies absolutely on three nineteenth
century innovations: Electricity, IC engine and Computers. Recent product innovations include Sony
Walkman, video camera and recorder, and the mobile phone.
Process innovations are less well known and less exciting, but they can be equally important in
commercial terms such as CNC machines and its descendant technologies revolutionised production
lines and cut manufacturing costs. Virtual supply chains are an example of an organisational innovation.
Even in non-technical fields such as accounting and finance, one of the great innovations is double-entry
book-keeping, which is in use even after six centuries of its first appearance.
At the heart of all innovation is knowledge. Without knowledge one cannot design and create new things.
The acquisition, provision and use of knowledge by both employees and customers are vital if innovation
is to succeed. Without a community of shared knowledge, even the best innovations will fail.
(This article is based on 'Innovation', an article written by Morgen Witzel, a famous economist.)
LINKS In House Magazine
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|Issue 22
In-house magazine of LANCO Group
Dear Reader
This is the twenty-second edition of LINKS, the in-house magazine of LANCO Group. The magazine has
grown in content and size, winning laurels at regional and national levels. To help us further improve and
bring you the magazine in better shape and quality, we invite your feedback in the format given below.
Please rate the magazine by filling the form and send it across. Our associates and other external readers
are also invited to send their feedback to:
Sreenivas Veluri
FEEDBACK
Director - Corporate Affairs
Email: [email protected]
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Ve r yG o o d
£
3 . O p i n iC
o no l u m -nT sh e ri e
r l e v a na cn edv a l uaed d i t i o n
£
Po o r
£
Fa i r
£
Good
£
Excellent
£
Excellent
£
Excellent
Ve r yG o o d
£
4 . L a n g u a-gS ep e l l ianngdg r a m m a r
£
Po o r
£
Fa i r
£
Good
Ve r yG o o d
£
5 . Q u a l iot fyP h o t o g r a-pChosl o au nr dc o n t r a s t
£
Po o r
£
Fa i r
Suggestions if any :
£
Good
Ve r yG o o d
£
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Designation :
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