ICICI Bank Business banking presented CNBC-TV18 'Emerging India Awards London-2008' which created a global mark, with it’s theme 'Think Global Go Global', India's biggest initiative for Small and Medium Enterprises Sector. The Emerging India Awards London- 2008 felicitation ceremony for the winning SMEs were held on July 8, 2008 in London where the Honorable Chief Guest Mr. L N Mittal, Chairman and CEO, Mittal Steel, Mr. Kamath, Chairman-ICICI Bank felicitated the winners.

The CNBC-TV18 'Emerging India Awards' initiative aimed at recognizing the most sustainable Value Creators among SMEs in the country. It is estimated that SMEs account for almost 90% of industrial units in India, 40% of value addition in the manufacturing sector and contribute 35% to India's merchandise exports. CNBC-TV18 'Emerging India Awards London 2008' provided a platform that enhances the visibility of these integral players in India's economic growth story. Travel and Tourism was one of the categories amongst the sixteen in which Pride Group of Hotels won the award from the total 200 participants. Three lakh SMEs participated pan India for these awards.

Feeling elated and speaking on the occasion after receiving the award. Mr. S. P. Jain said, that,” Receiving this prestigious award from Mr.Kamatha; who is a successful banker really feels good and makes one feel appreciated. At Pride our philosophy has always been to provide the best to our customers, this combined with the hard work and effort of my team has bought us this recognition that we received today. He further added that, Pride has come a long way, we started with one hotel in the year 1999 and now we have 6 operating hotels and five projects under construction and by the year 2010 we will have 11 operating hotels.

The Pride Group has a chain of hotels in Nagpur, Pune, Chennai and Ahmedabad. The Pride Hotel now offers total 501 rooms in Nagpur, Ahmedabad, Pune and Chennai and post expansion it will offer 1126 rooms in the 5 star categories. Currently The Pride Hotels has 15 food outlets which include restaurants, coffee shops and bars and 21 banquet halls and conference rooms in their properties.

The Pride Group of Hotels is planning to manage biznotels in cities like Hyderabad, Chandigarh, and Kochi. It has also tied-up for managing an up market resort in Mahabaleshwar and Hotel and Spa in Jaipur build in the Rajasthani haveli style. The Group has already acquired land in Mumbai for a five star hotel and at Alibaug and Goa for a resort and Spa.

SELECTION PROCESS OF THE AWARDS:

The first round of selection for the CNBC-TV18 'Emerging India Awards' involved review of financial Statements of the nominees by CRISIL. The evaluation was based on the performance of the company in the current and previous years to ensure consistency of performance.

During the second round of the screening, 25 short-listed entities in each category provided detailed information on:
- Comprehensive write-up on business
- Audited financial statements, verification from lead banker, any relevant references
from industry associations/ key large clients
- Future plans and strategies
- Management background, experience and track record
- Brief write-up and summarized financial performance on affiliate / group companies

CRISIL has also looked at the following factors to evaluate the nominated SMEs:
- Market position, competitive strengths
- Business strategy, growth plans and future prospects

- Management vision, quality, experience and depth

- Additionally CRISIL has also evaluated the companies on their ability to enter and establish their presence in global market and meet global cha The second round of screening resulted in the short listing of 3 entities per category. Each of the 3 short listed entries made a final round of offsite presentations about their respective businesses to a jury of independent experts. The jury selected the winners in each category after evaluating the SME's overall business, financial and management strengths and their ability for sustainable value creation for key stakeholders.

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