Kolte-Patil Developers Ltd – Q1 FY25 Financial Result
Commenting on the performance for Q1 FY25, Mr. Atul Bohra, Group CEO, Kolte-Patil Developers Limited said,
“In a rapidly evolving real estate industry, we have been persistent in delighting customers with product offerings that enrich their lifestyle resulting in pre-sales of Rs. 711 crore and volumes of 0.96 million square feet for the quarter. Strong execution and timely deliveries resulted in our highest-ever quarterly collections of Rs. 612 crore, marking a 19% year-on-year growth. Sustaining the sales momentum, our flagship Life Republic project in Pune recorded sales volumes of 0.46 million square feet in Q1 FY25.
For the year till date we have launched projects with saleable area of close to 2 million square feet translating into top-line potential of about Rs. 1,500 crore across customer segments. I am glad to share that all the projects are receiving encouraging response from the market. The launches schedule is largely on track and we hope to be able to launch projects with top-line potential of Rs. 8,000 crore during the current financial year.
The underlying structural demand drivers remain strong, as customers continue to favour developers and projects that offer reliability, credibility, and a proven track record. The focus on housing, infrastructure development, and
urban planning is expected to provide sustained support to the housing sector. With a growing project development pipeline, under-borrowed Balance Sheet, a validated governance structure, and a strong brand connect associated with trust, we believe that Kolte-Patil is attractively placed to deliver sustainable growth across the coming years.”
Tata Tea Premium’s New Independence Day Campaign Celebrates Regional Pride
National, August 9th, 2024: TATA Tea Premium-Desh Ki Chai, flagship tea brand from Tata Consumer Products Ltd. is back this Independence Day with its #DeshkaGarv-Pradesh Ki Kala campaign. This campaign celebrates moments of pride from India’s glorious post-independence journey such as the Green Revolution of Punjab that contributed towards making the country self-sufficient in food grains, Delhi’s 1982 Asian Games that heralded the start of Colour TV revolution, among other such events. With an attempt to immortalize these milestones and let consumers reminisce India’s proud history, the brand has launched a limited-edition regional art inspired #DeshKaGarv collection. In line with the brand’s ethos of evoking national pride while celebrating regional glory, each set is exquisitely depicted in a unique regional art style inspired by India’s diverse state cultures.
The #DeshKaGarv collection has been created in association with The Plated Project, an organization that strives to solve hunger crisis through art. Breathing life into India’s iconic post-Independence moments each set is vividly illustrated through innate regional art forms. For example, Odisha’s Hirakud Dam, which stood as the World’s Largest Earthen Dam at the time of its inauguration in 1957 depicted in Pattachitra Art Form, Madhya Pradesh’s Sanchi Stupa A UNESCO world heritage site depicted through the famous Gond Art Style from the state.
100% of the proceeds from the collection will be used to sponsor meals for underprivileged children.
Commenting on the campaign, Puneet Das, President – Packaged Beverages (India and South Asia), Tata Consumer Products, said, “True to being ‘Desh Ki Chai’, Tata Tea Premium has always catered to diverse taste preferences and has been celebrating India’s rich culture and pride. This Independence Day we are thrilled to launch the #DeshKaGarv – Pradesh Ki Kala collection, beautifully captured through regional art forms that evoke collective pride. This campaign not only provides consumers an opportunity to own a piece of history but also see smiles on faces of kids as 100% of proceeds from this exquisite collection will be used to sponsor meals for the underprivileged, in collaboration with The Plated Project.”
Commenting on the collaboration, Chitresh Sinha, The Plated Project said “The Plated Project and Tata Tea Premium share a common ethos of creating impact and not just profits, so for us this is a great partnership. We worked with a set of extremely talented artists to ensure that we can create a collection that creates pride and conversations with every serve. We couldn’t have found a better way of celebrating our Independence Day!”
GD Goenka University Announces INR1 Crore Sports Scholarship to Honor Champions
9th August 2024: As the world celebrated the Paris 2024 Olympics, India’s athletes once again demonstrated their resilience, passion, and unwavering spirit. In recognition of these achievements and with the aim of nurturing future champions, GD Goenka University is proud to announce a ₹1 crore scholarship fund dedicated to supporting young Indian athletes.
This initiative reflects GD Goenka University‘s commitment to empowering the next generation of sports talent, inspired by the remarkable performances of Indian athletes. Figures like Neeraj Chopra, the Indian men’s hockey team, Manu Bhaker, and others have become symbols of excellence and perseverance. Their stories of triumph remind us of the relentless pursuit of greatness that defines true champions. The scholarship fund aims to empower emerging athletes, providing them with the resources they need to chase their dreams and reach new heights in their respective sports.
“At GD Goenka University, we believe in the power of dreams and the strength of perseverance. Our athletes in Paris have shown the world what India is capable of, and we are committed to supporting the next generation of champions. With this ₹1 crore scholarship fund, we aim to empower young athletes to pursue their dreams and reach new heights, continuing the legacy of excellence
demonstrated by our Olympians,” said Mr. Nipun Goenka, Managing Director, GD Goenka Group.
GD Goenka University stands by its commitment to developing future champions. This scholarship is a testament to the university’s dedication to transforming dreams into reality, fueling ambition, and celebrating every step toward excellence. Together, let us celebrate the spirit of sportsmanship, honor the achievements of our athletes, and continue to inspire the next generation to reach for the stars.
Pacific World School Hosts ThinkQuest 2024, Fostering Innovation and Imagination in Young Minds
9th August 2024: Albert Einstein once said, “Imagination is more important than knowledge. For knowledge is limited, whereas imagination encircles the world.” Aligning with Einstein’s wisdom, Pacific World School, Greater Noida, hosted an annual science quiz, “The STEM Chronicles: Exploring the Depth of Imagination and Logic,” to inspire young minds in Science, Technology, Engineering, and Mathematics.
Mr. Gaurava Yadav, the esteemed chief guest, renowned quizmaster, Founder and CEO of EduAce Services and the Indian Principals’ Network (IPN), and international award-winning entrepreneur, graced the event with his presence. The 2024 ThinkQuest emphasized STEAM (Science, Technology, Engineering, Arts, and Mathematics), fostering curiosity and creativity. Integrating the arts into traditional STEM subjects, the quiz aimed to inspire the next generation of thinkers and innovators. Among 27 schools, Pacific World School and Delhi Public School (KPV) secured first place, followed by Delhi Public School Sec 122 as the first runner-up and Mayoor School as the second runner-up.
Ms. Pooja Bose, Principal of Pacific World School, Greater Noida, expressed, “The enthusiasm and creativity displayed by our students reaffirm our commitment to fostering an environment where imagination and knowledge go hand in hand. We look forward to many more inspiring journeys, paving the way for continued exploration, imagination, and innovation until the next ThinkQuest.”
Versuni India Partners with Drape Artist Dolly Jain: Elevating the Art of Indian Drapes
India, 9th Aug 2024, Versuni India, a leader in the domestic appliances industry and home to legacy brands Philips Domestic Appliances and Preethi, today announced its partnership with renowned saree draping artist Dolly Jain. Through this strategic partnership, Philips aims to become the official partner for Indian drapes, celebrating the timeless elegance of sarees, diverse in styles yet unified in cultural significance. Philips, a challenger brand in the garment care industry, has been at the forefront of innovation with cutting-edge technology and design, ensuring wrinkle-free clothes with just a few swipes for over a decade. Through this strategic alliance Philips and Dolly combine forces to revolutionize the care of sarees, one of India’s most cherished traditional garments.
Dolly Jain, known for her artistry in draping sarees, in partnership with Philips will provide consumers with expert advice on perfecting their saree drapes. This partnership is dedicated to helping saree enthusiasts and loyalists take better care of their cherished garments, ensuring they look impeccable on every occasion.
Commenting on the partnership, Pooja Baid, Chief Marketing Officer of Versuni India, said, “Sarees are a symbol of India’s rich cultural heritage and craftsmanship. For millions across the country, while sarees might be everyday attire, they are still considered prized possessions. Our endeavor as a brand has always been to empower consumers with best-in-class technology that makes everyday life convenient and comfortable, whether it be in cooking, cleaning, fashion, or overall healthy living. Staying true to our focus on constant innovation for the consumer, we understand the importance of identifying their needs and addressing their pain points. Our collaboration with drape artist Dolly Jain reflects that commitment, it underscores our dedication to preserving the tradition of sarees and ensuring each drape is wrinkle-free.”
Further Dolly Jain India’s beloved draping artist added, “A saree is a magical six-yard fabric that is not just an attire but a celebration of tradition and culture. Partnering with Philips allows me to share my passion for saree draping while also introducing the best tools to care for these beautiful garments. The Philips handheld garment steamer STH7020 is a game-changer for anyone who values the art of saree draping.”
As part of this long-term partnership, Dolly Jain and Philips will create a series of engaging and informative videos featuring the brand’s highly acclaimed STH 7020 garment steamer. This collaboration will highlight the unparalleled efficiency and user-friendly design of these steamers, making them an essential tool in modern fabric care. By combining Dolly Jain’s draping expertise with Philips’ innovative technology, this series will provide valuable insights and practical tips, empowering consumers to perfect their draping techniques and ensure their prized possessions remain wrinkle-free.
Featuring in Dolly and Philip’s debut video is the beloved STH7020 garment steamer, designed to ensure you are always ready to step out in style. This innovative steamer allows users to de-wrinkle and refresh their clothes effortlessly, producing up to 28 g/min of continuous, powerful steam that relaxes fabric fibers and keeps garments looking pristine. Its pointed steam plate tip swiftly removes creases, while the patented OptimalTemp feature guarantees zero burns, making it safe for all fabrics. The STH7020 boasts a unique, adjustable head that allows for steaming at any angle, with a large steam plate for efficient coverage. Powered by 1500W, it heats up in just 30 seconds, providing a quick and convenient solution for last-minute touch-ups. The 100 ml easy-to-remove, and refill tank offers enough capacity to steam a full outfit without interruption. Its ergonomic, lightweight design ensures it fits seamlessly into hand baggage, making it the ideal travel companion.
Philips has consistently been at the forefront of innovation in the garment care industry. The brand has developed a robust range of products that are ergonomically designed and easy to use, helping consumers stay on top of their fashion game. This partnership with Dolly Jain further underscores Philips’ commitment to offering superior garment care solutions tailored to the needs of Indian consumers.
Luxury real estate co. Atmosphere Living to Invest INR 500 Crore in India
August 9, 2024: As a part of their expansion plans across South Asia, Atmosphere Living India, a subsidiary of Atmosphere Living Dubai, is all set to invest around 500 crore in luxury real estate markets across India. These projects funded by the parent company shall have key projects in places like Goa, Lonavala, Himachal Pradesh, Jaipur, and Mysore.
Each of them will offer a seamless combination of real estate with hospitality, offering an unparalleled living experience. In tandem with these developments, Atmosphere Core, the hospitality arm of the group, will also be opening new hotels in Kolkata, Coorg, and Bhopal over the course of next three months
“Luxury villas will be constructed and sold alongside these hotels by Atmosphere Living, further enhancing the synergy between real estate and hospitality. This will be a unique blend of real estate and hospitality to South Asia. With our upcoming projects, we aim to set new benchmarks in ultra-luxury living, beginning with our flagship Ozen-branded residences in Mussoorie.” Sandeep Ahuja, CEO of Atmosphere Living
The flagship project in Mussoorie is spread over 11.5 acres of land jointly owned by Atmosphere Living and the landowner, will feature a 100 key hotel, 70 villas available for sale and leaseback, 90 luxury apartments for sale, and 12 ultra-luxury residences that will be sold without the leaseback option. The design of the Mussoorie property will reflect the rich heritage of the region, with palace-like structures that capture the essence of the locale. The Mussoorie project will be branded under THE OZEN COLLECTION, making it the first Ozen-branded residence in India
Atmosphere Living provides a unique investment opportunity for elite homeowners, allowing them to lease their residences back to the company. These properties can then be rented out, offering a lucrative income stream for homeowners. This innovative model not only enhances the value of the homes but also provides an effortless ownership experience backed by world-class hospitality services.
Kalp Decentra Foundation and BIMTECH Partner to Launch Blockchain Learning Centre
Noida, 9th August 2024 – Kalp Decentra Foundation, known by its brand name KALP, and the Birla Institute of Management Technology (BIMTECH) are excited to announce the launch of a strategic partnership. This collaboration aims to harness their combined expertise and resources to establish a state-of-the-art Blockchain Learning Centre at BIMTECH’s campus. This initiative marks a significant step towards advancing blockchain education and research, providing students and professionals with cutting-edge knowledge and skills in this transformative technology.
According to a report by Fortune Business Insights, the global blockchain technology market size was valued at $17.57 billion in 2023 and is projected to grow from $27.84 billion in 2024 to $825.93 billion by 2032, exhibiting a CAGR of 52.8% during the forecast period (2024-2032). The market is set to expand largely at the back of increased adoption of blockchain for secure, along with significant investments already pouring in in the domain. The collaboration between Kalp Decentra Foundation and the BIMTECH will train & prepare next generation or any professional who wants to learn about the blockchain and make career in this industry. At the same time, the partnership will also provide practical experience and theoretical knowledge, equipping them with the necessary skills and knowledge to effectively teach blockchain technology.
Furthermore, the initiative also seeks to foster collaboration among students, faculty, and Kalp Blockchain, promoting innovative research and project development. Furthermore, the partnership will create pathways for students to access industry opportunities, internships, and practical experiences, bridging the gap between academic learning and real-world applications in blockchain technology.
As per the terms of the agreement, both the parties share individual duties. KALP will handle course development, designing and providing comprehensive course materials and resources. In addition, they will conduct faculty training through workshops and training sessions and deliver lectures and hands-on workshops for students.
The establishment of the Blockchain Learning Centre is an initiative led by the Area of IT at BIMTECH, with the guidance and support of the Director. The MOU was formalized in a closed ceremony between both organizations. The key representatives from BIMTECH included Director, Dr. Prabina Rajib, Registrar Dr. A.V. Shukla, Deputy Director Dr. Pankaj Priya, IT Area Head Dr. Kapil Garg, IT Infrastructure Head Dr. Amarnath Bose and the Point of Contact for the Blockchain Learning Centre, Dr. Ruchi Garg. And the resource people from KALP were Mr. Tapan Sangal, Co-Founder; Mr. Gagan Singhal, Co-Founder; and Mr. Kapil Dev, Chief Business Officer, each bringing their vision and expertise to the partnership.
On the other hand, BIMTECH will be responsible for providing the necessary infrastructure and facilities to conduct the course. They will ensure the active participation of faculty members in training sessions and encourage student enrolment and participation in the program. BIMTECH will also provide administrative support for the smooth execution of the program.
Speaking on the collaboration, Tapan Sangal, Founder, Kalp Decentra Foundation said, ” We are thrilled to join forces with BIMTECH in nurturing a new wave of blockchain professionals. As the blockchain segment experiences exponential growth, this collaboration transcends mere knowledge-sharing; it is about equipping students and faculty with practical, hands-on skillsets. The Blockchain Learning Centre will immerse students in real-world applications, fostering innovative thinking and the development of novel blockchain solutions.
“Considering the rapid advancements in blockchain technology today, our involvement in this initiative is driven by a vision of the future where blockchain is ubiquitous, revolutionizing every facet of our daily lives. Through this partnership, we aim to significantly increase the pool of skilled professionals who can leverage blockchain’s potential to transform industries.”
This collaboration will develop an extensive blockchain course, equip BIMTECH faculty with blockchain teaching skills, and engage students through practical projects and interactive sessions. It will foster research collaboration between students, faculty, and KALP, and create pathways for students to gain practical industry experience in blockchain technology.
Dr. Prabina Rajib, Director, BIMTECH, sharing her thoughts on the MoU signing said, “Positioning BIMTECH with industry leaders to drive meaningful advancements highlights our expertise and commitment to providing our students with the best academic environment.
“This partnership aims to blend KALP’s advanced technical capabilities and innovative approach with BIMTECH’s educational infrastructure, material resources, and academic prowess. Hence, establishing a framework for knowledge exchange and professional development. We are eager to explore the potential of mutual growth and development through the dynamic synergy created with this alliance. Together, we aim to empower our students with cutting-edge knowledge and skills, preparing them to be leaders in the dynamic field of blockchain technology.”
The Sandur Manganese & Iron Ores Limited Announces Appointment of New CEO and COO
Chennai, 09 August 2024: The Sandur Manganese & Iron Ores Limited (‘SMIORE’ or ‘the Company’), a leading player in the mining and metals industry, is pleased to announce the appointment of Krishnendu Sanyal as Chief Executive Officer (CEO) and Manjunath Prabhu as Chief Operating Officer (COO). These leadership appointments are aimed at augmenting the Company’s management bandwidth and driving forward its ambitious plans for integration and sustainability in the metals & mining industry.
Krishnendu Sanyal, the newly appointed CEO, brings ~32 years of experience in strategic, financial, and operational leadership. His illustrious career spans across major companies such as Tata Steel in India and Sri Lanka, The Siam Industrial Wire Co. in Thailand, and Sedibeng Iron Ore in South Africa. Krishnendu has global experience and a proven track record in turning around and expanding operations, and creating value through acquisitions, integrations, and divestments. He has valuable domestic and international experience with one of the country’s largest companies whose core values resonate with that of SMIORE. He has led various roles and undertaken responsibilities in business sustainability, management change, and new business development across different geographies. His past experience perfectly aligns with SMIORE’s future endeavours. He holds a Bachelor’s degree in Mechanical Engineering coupled with a Master’s in Business Administration. He has also participated in Tata Group Strategic Leadership Program from Harvard Business School.
Manjunath Prabhu, the newly appointed COO, also has ~36 years of experience in operations, leadership, and strategic planning. His extensive background includes significant roles at JSW Steel, Vijayanagar; Essar Steel, Visakhapatnam; and KOICL, Mangalore. Manjunath has a deep understanding of the Ballari region’s metals and mining operations and expertise in various facets of operations including production, project commissioning, land acquisition, beneficiation, and raw material handling system (RMHS), among others. He is a Mechanical Engineering graduate by qualification and was part of the Future Fit Leader by Cornell University from 2016-19.
Commenting on this milestone, Bahirji A. Ghorpade, Managing Director, SMIORE said:
“This is a strategic initiative to augment our management bandwidth and bolster our leadership as we march forward with our plans to cement our position in the industry. As we transition towards a sustainable and integrated future, building the required management bandwidth to drive the execution of our strategic priorities is crucial. We are excited to welcome Krishnendu and Manjunath to the SMIORE family. With his global experience with steel industry majors, Krishnendu’s expertise in various facets of the industry and strategic leadership will be a valuable addition. At the same time, Manjunath’s long stint with one of India’s leading steel players and his experience in Bellari’s metals & mining operations will be an invaluable asset. I look forward to working closely with both of them, as we scale new heights and continue to innovate and excel, creating a future-ready organisation poised for sustainable value creation.”
Speaking on being appointed as the CEO of SMIORE, Krishnendu Sanyal, said:
“I am excited to be part of SMIORE’s promising transition to an integrated and sustainable metals and mining powerhouse. With many potent triggers in the offing, including its recent mining expansion, SMIORE is on a path to creating a lasting legacy in the Indian metals & mining industry.”
Speaking on being appointed as the COO of SMIORE, Manjunath Prabhu, said:
“Having been working in the Bellari region since 1996, I have observed up close how SMIORE has run one of the best mining operations in the country. I have great respect and admiration for the SMIORE brand, and I am excited to contribute to its journey of transitioning beyond mining into other facets of the industry.”
Relaxo Footwears Announces The Great Freedom offer
New Delhi, August 9th, 2024: To commemorate India’s Independence Day, Relaxo Footwears Ltd., India’s leading footwear company today announced “The Great Freedom Sale”. Starting from August 14th till August 19th, 2024, the sale unveils impressive discounts on a wide range of footwear delivering stylish options at affordable prices for customers nationwide.
Experience unbeatable savings at Relaxo’s “The Great Freedom Sale,” showcasing a diverse selection of footwear across various categories. Customers can explore sporty shoes, fashionable sandals, trendy flip flops, and comfortable clogs from brands such as Relaxo, Flite, Sparx, Bahamas, Mary Jane, Boston, and KidsFun. Whether shopping online or in-store, this sale provides a perfect opportunity for customers to upgrade their footwear collection with massive discounts.
Bangalore tops flex office stock in APAC region, outshines Shanghai, Seoul and Tokyo
National – August 8th, 2024 – CBRE, world’s leading real estate consulting firm, announced the findings of its report, ‘H1 2024 Asia Pacific Flexible Office Market’. According to the report, Bangalore topped the list of 20 APAC cities with the highest flexible office stock at 15.5 mn. sq. ft. in the APAC region, including Shanghai, Seoul and Tokyo. Delhi NCR ranks second in the city list with a total stock 10.7 mn. sq. ft. (till June’24) of flexible office space. Recent growth in the Asia Pacific flexible office space market has been primarily driven by Indian cities, where the expansion is supported by the demand for managed solutions offered by domestic flexible space operators.
The report highlights that Delhi NCR witnessed the highest increase of 26 % in the flexible office stock since CY 2023. Other Indian cities also did exceedingly well with Hyderabad and Mumbai making it to the top 10 cities, with 6.8 and 6.1 mn. sq. ft. of flexible office stock, respectively.
The Asia Pacific flex space market continues to display stable growth, with the total stock of flexible office space in the APAC region reaching 89 million sq. ft. as of June 2024, an increase of 3.9% from CY 2023. The report points out that the APAC region is home to approximately 3,000 flex space centers. With strong leasing activity by flex space operators during this period, it is anticipated that the pace of new flex center openings will continue to be rapid throughout the remainder of the year in these markets.
Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said, “Recent growth in the Asia Pacific flexible office space market has been primarily driven by Indian cities, where expansion has been underpinned by demand for managed solutions offered by domestic flexible space operators. The ongoing expansion of the flexible office space market in India highlights its significance as a strategic option for businesses adapting to the changing demands of workspace needs”.
Henry Chin, Global Head of Investor Thought Leadership and Head of Research, CBRE APAC, said, “Recent years have seen an evolution in business strategy by operators of flexible office space in Asia Pacific. In the post-COVID era, operators’ priorities have shifted towards income diversification, turn-key managed solutions, and maximizing centre utilization. Operators are increasingly differentiating their brands and exploring alternative deal structures, such as management agreements and CapEx contributions by landlords, to create more sustainable business models. Leveraging turn-key managed solutions enables operators to increase commitment terms while providing additional value to occupier solutions”.
The report also points out that despite a return to growth mode after the pandemic subsided, the Asia Pacific flexible office space market has now entered a period of normalized expansion compared to the pre-COVID boom years.
CBRE APAC study covered 20 major Asia-Pacific markets, including Japan, China, South Korea, Philippines, Hong Kong, Australia, Vietnam, Singapore, Australia, Taiwan, New Zealand and India.