AXA Unveils State-of-the-Art Office Space in Pune, Expands its Global Business Services Center
AXA announced the opening of its new state-of-the-art office space in Pune, Maharashtra, designed to embody the essence of a future-ready workspace for its 4,000 strong team in India. The new office space, with an area of more than 160,000 sq.ft. and spread across 4 floors, has been envisioned to reflect the company’s commitment to innovation, collaboration, and sustainability. Located in Kharadi, Pune, it is equipped with cutting-edge technology and collaborative spaces showcasing state-of-the-art resimercial design, tailored to meet the evolving needs of a dynamic and tech-driven workforce.
“The inauguration of our new office in Pune marks a significant milestone in the evolution of AXA’s Global Business Services, positioning it as an end-to-end managed services provider for our AXA entities globally. We are confident of the potential of our skilled talent in India to deliver high quality services and operational excellence. I’m also very proud that our new sustainable office demonstrates our active contributions to fulfilling our strategic ambition in acting against climate change across geographies.” [Alexander Vollert, AXA Group COO and AXA Group Operations CEO.]
“AXA’s new office space in Pune showcases Indian creativity at its best, a true testimony to ‘Made in India’- with work from local artisans and architects. Our vision is to establish a ‘home away from home’ for our employees, embracing the very best of the exciting resimercial trends, to build a workplace where our colleagues can easily collaborate, thereby boosting creativity and productivity. AXA Global Business Services is committed to grow our Technology, Data & Artificial Intelligence, Automation and Consulting Capabilities, in addition to our strong Insurance and Corporate Functions Services. We are bringing diverse talent into our organization and we are confident that the new space plays a crucial role, not only in attracting the best talent from the industry, but also for nurturing the talent we already have. We believe that our new site strategy will continue to solidify our position as an employer of choice and differentiates us significantly amongst other global capability centers in the country.” [Michele Rochefort, CEO AXA Global Business Services]
“The opening of AXA’s new office marks a pivotal moment for our employees as it reinforces our commitment to investing in our people and their wellbeing. It contains flexible configurations that cater to diverse working styles, promoting an inclusive and productive work environment. The office is designed with artwork sourced from local, differently-abled artists, adding to its cultural charm and reaffirming our vision to support the communities around us. You will also see state-of-the-art technology beautifully sharing space with biophilic zones across the floor, an ode to our focus on sustainability. The office adheres to diverse accessibility requirements, making sure that everyone at AXA feels a sense of belonging.” [Prashanthi Thorat, Head, Insurance Operations Services and Business Sponsor, Diversity, Equity and Inclusion.]
AXA’s new office is IGBC certified from the Indian Green Building Council, signifying a strong commitment to sustainable practices and environmental responsibility. IGBC, a part of the Confederation of Indian Industry (CII), aims to promote sustainable and environmentally friendly building practices in India. The IGBC certification ensures that AXA’s new workspace meets the highest standards of energy efficiency, water conservation, and overall environmental performance.
As a mark of this momentus journey of AXA in India, AXA Global Business Services employees will be planting 2000+ saplings in Anandvan, Pune, reaffirming the Group commitment to promote environmental sustainability. Biodiversity is an integral part of AXA’s corporate social responsibility vision and AXA Global Business Services has been working with Anandvan Trust as a flagship project, focused on preserving the environment through sapling plantation and restoration of water resources.
Saatvik Solar wins 213MW Solar PV modules supply contract from L&T Energy
Mumbai, October 9, 2024: In a major boost to India’s renewable energy sector, Saatvik Solar, India’s premier solar PV module manufacturer, has inked an agreement with Larsen & Toubro (L&T) to supply a 213 MW order for solar PV modules. This agreement marks a substantial contribution to India’s renewable energy sector.
This order is designated for L&T Energy’s 245 MW Bihar Battery Energy Storage System (BESS) project. Of this, 185 MW will power a solar PV grid-connected power plant, while 45.4 MW will support a 4-hour battery storage system in Kajra district. Saatvik Solar will deliver its advanced Mono PERC (Passivated Emitter and Rear Cell) Bifacial Modules of 545 Wp, featuring glass-to-back sheet technology. These high-efficiency solar modules are engineered to provide outstanding performance and long-term dependability, making them perfect for large-scale solar systems. The delivery is scheduled for completion by March 2025.
Expressing his thoughts on the occasion, Mr. Prashant Mathur, CEO, Saatvik Solar, said, “This order represents a major milestone for Saatvik Solar and underscores our commitment to advancing India’s clean energy landscape. By collaborating with industry leaders like L&T Energy, we are not only expanding our business but also actively contributing to India’s sustainable future. This partnership reflects the growing capabilities of domestic manufacturers in meeting the sophisticated demands of large-scale solar projects.”
This award strengthens Saatvik Solar’s position as a leading player in the solar sector, building on its continuous efforts to increase production capabilities to provide new solutions. Further, Saatvik Solar is actively pursuing several key infrastructure tech innovations to stay ahead in the renewable energy sector. The company is developing high-efficiency solar PV modules, including half-cut modules and premium modules with advanced features like ‘0 buzz bar’ and ‘24 buzz bar’ technology. In addition to module manufacturing, Saatvik Solar is also exploring investments in electrolyser battery manufacturing and storage solutions to enhance energy storage capabilities. Saatvik Solar’s R&D infrastructure and in-house manufacturing skills enable the firm to address the rising demand for high-efficiency solar modules in both the Indian and global markets.
India’s Top Eight Housing Markets See 5% Drop in Sales, 25% Fall in New Launches Amid Rising Prices: PropTiger Report
Mumbai, 09th October 2024: India’s leading eight residential markets experienced a year-on-year decline in both housing sales and new launches during the July-September quarter of 2024, as revealed in the latest ‘Real Insight Residential Report’ by PropTiger.com, part of REA India, which also owns Housing.com. A sharp increase in home prices—averaging a nearly 20% increase across the top eight cities—impacted affordability leading to a 5% YoY drop in overall sales. New launches witnessed a more significant 25% YoY decrease compared to the same quarter in 2023.
Key Findings:
● Sales: A total of 96,544 units were sold in Q3 2024, down from 1,01,221 units sold during the same period in 2023, reflecting a 5% annual decline
● New Launches: The number of new residential units launched in the top 8 markets decreased from 1,23,080 units in Q3 2023 to 91,863 units in Q3 2024, marking a significant 25% drop
Mr. Vikas Wadhawan, CFO of REA India and Business Head of PropTiger.com, commented, “The year-on-year decline in both sales and new launches reflects the market’s response to rising prices. While the demand and supply for homes moderated during the April-June period due to the General Elections and a temporary slowdown in the approval process during July-August, consumer sentiment remains positive. This is driven by strong market fundamentals, which continue to encourage real estate as a preferred investment avenue.”
He further added, “We are observing a healthy moderation in market activity, which is beneficial for end-users as it brings about sustainable growth. Over the last few quarters, prices have increased by 3% to as much as 50% in some prime localities of key markets, affecting immediate buying decisions. However, we expect buyers to gradually adjust to the new price realities. With the festive season kicking off with Navratri, renewed buyer interest and a spike in sales activity are anticipated. The market frenzy has slowed, creating a more stable environment for end-users. Developers, particularly in Hyderabad and Pune, have also recalibrated their supply strategies to align with shifting demand patterns, while Delhi NCR continues to display robust momentum in both sales and launches. The festive season is expected to bring fresh energy as developers introduce attractive offers, revitalising the market despite recent challenges.”
Major Drops in Mumbai, Hyderabad, and Pune:
In the July-September quarter of 2024, Delhi NCR saw a significant sales surge of 29% year-on-year (YoY), with 10,098 units sold compared to 7,800 in the same period last year. Mumbai, while leading in overall volume, experienced a slight 1% dip, selling 30,010 units versus 30,299 in Q3 2023. Hyderabad faced a notable decline, with sales dropping 19% YoY to 11,564 units from 14,191 units. Bengaluru’s sales decreased by 11% YoY, with 11,160 units sold, down from 12,588 units in the same period last year. Similarly, Ahmedabad recorded a 9% YoY drop, with 9,352 units sold compared to 10,305 units in the previous year.
New Launches Comparison (YoY Q3 2024 vs. Q3 2023):
In Q3 2024, Delhi NCR witnessed a robust 76% YoY rise in new launches, with 11,955 units introduced, compared to 6,810 in Q3 2023, indicating strong developer confidence. Conversely, Mumbai saw a 13% drop in new supply, with 31,123 units launched versus 35,923 last year. Hyderabad experienced a sharp 58% YoY decline, with new launches falling to 8,546 units from 20,481 in the previous year. Pune’s new supply also contracted 36% YoY to 13,543 units from 21,287. Despite a quarterly rise, Kolkata saw a 61% YoY drop, launching just 1,516 units compared to 3,850 units in Q3 2023.