New Delhi, October 15th, 2024: The average price of new launch projects in India’s top 10 cities have surged 88% in the last five years, according to real estate data analytics firm PropEquity.

According to the report, the average housing price have surged the most in Gurugram from Rs 7500 psqft. in 2019 to Rs 19,500 psqft. in 2024, a jump of 160% and the lowest in Mumbai at 37% from Rs 25820 psqft to Rs 35,500 psqft.

During this period, 15,000 projects were launched comprising apartments, floors and villas in top 10 cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Thane, Navi Mumbai, Pune, Noida and Gurugram.

Commenting on the data, Samir Jasuja, Founder & CEO, PropEquity said: “Real estate prices have gone up exponentially across all major cities in the last 5 years. The massive infrastructure development, growing interest from NRIs, HNIs/UHNIs and stock market gainers looking to create wealth and generate income through real estate investment, rising homeownership sentiments and overall shift towards luxury/super luxury homes as a result of rising aspiration and affluence are the contributing factors for such a steep rise.”

According to the report, the highest rise in prices was seen in Gurugram, followed by Noida (146%), Bengaluru (98%), Hyderabad (81%), Chennai (80%), Pune (73%), Navi Mumbai (69%), Kolkata (68%), Thane (66%) and Mumbai (37%).

In terms of per sq. ft. prices, Mumbai continues to be the costliest with average price at Rs 35,500 psqft. followed by Gurugram at Rs 19,500 psqft. and Noida at Rs 16,000 psqft.

The data further highlighted that in 2019, only Mumbai had average price of new launch projects upwards of Rs 10,000 psqft. In 2024, except Hyderabad, Chennai and Kolkata, all seven cities saw average launch prices rise upwards of Rs 10,000 psqft.

Mumbai, October 15th, 2024: Iraah Lifespaces, a prominent new entrant in the ultra-luxury villas development space, has unveiled its exquisite collection of bespoke properties in two of Maharashtra’s most sought-after destinations; Alibaug and Lonavala. With a vision to redefine destination living in the neighbourhood of celebrities with a second home or investment perspective, Iraah Lifespaces is poised to cater to the discerning tastes of ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), CXOs, and NRIs who seek unparalleled luxury in their homes.

The project is situated in the vicinity where Indian celebrities like Shahrukh Khan, Virat Kohli have their villas. These villas are an embodiment of sophistication and elegance matching the vibes of the neighbouring celebrity homes. Each villa has been meticulously designed to offer an unparalleled living experience, seamlessly blending contemporary aesthetics with the natural beauty of the surroundings. Nestled in lush landscapes, the properties provide a serene retreat while still being in close proximity to vibrant urban life.

“Our mission at Iraah Lifespaces is to craft bespoke properties that cater to the elite,” said Mr. Vikas Sutaria, Founder at Iraah Lifespaces, the think-tank and the person who has conceptualized the project. “We understand that our clients are not just looking for a home; they are seeking a lifestyle. Our villas are designed to reflect their aspirations for luxury, privacy, and exclusivity,” he added.

The newly unveiled collection features an array of architectural styles and layouts, each tailored to meet the unique preferences of potential buyers. From expansive living spaces and state-of-the-art amenities to stunning outdoor areas, every detail has been thoughtfully curated to enhance the experience of luxury living.

Iraah Lifespaces is particularly excited about the increasing interest from UHNIs, HNIs, and CXOs in these lifestyle destination homes. As more individuals and families prioritize wellness, relaxation, and the ability to escape to peaceful surroundings, the demand for such properties has surged. Alibaug and Lonavala, known for their picturesque landscapes and serene ambiance, are emerging as top choices for those looking to invest in uber luxury villa homes.

Mr. Sutaria went on to add, “Alibaug and Lonavala are not just destinations; they are paving the way for destination living in India. We are committed to offering a unique blend of modern luxury and natural beauty, providing our clients with a sanctuary that they can all call home.”

As per industry reports, the Indian luxury market experiences significant growth and is projected to soar from USD 38.02 billion currently to USD 101.92 billion by 2029.

Iraah Lifespaces’ commitment to excellence is reflected in its dedication to sustainability and eco-friendly practices. The company is integrating green technologies and sustainable materials in its projects, ensuring that the luxury experience does not come at the expense of the environment.

As the ultra-luxury market continues to evolve, Iraah Lifespaces is uniquely positioned to lead the way, offering not just homes, but lifestyle destinations that resonate with the elite. With the launch of these exquisite villas, the company is setting new standards in luxury living, making it an exciting time for both the brand and potential buyers.

As reported by Anarock, out of the 328,400 residential units introduced in the top seven cities last year, around 8,610 were villas. This marks a rise from the 8,420 villas out of 357,640 units launched in 2022. The growing interest in luxury villas is expected to persist and expand in the upcoming years. There is a growing preference for villas over high-rise apartment complexes, and investors are also gravitating towards more spacious homes, leading to an increase in the launch of luxury villas.

Mumbai, October 14th, 2024: Arkade Developers Limited, today announced its results for the first quarter of FY25. The Company has recorded Consolidated Revenue of Rs. 12,538.13 lakhs for Q1FY25 as against Rs. 6,177.16 lakhs for Q1FY24 and Rs. 12,288.60 lakhs for Q4FY24. The Consolidated Profit Before Tax for Q1 FY25 is Rs. 4,088.74 lakhs as against Rs. 942.60 lakhs for Q1 FY24 and Rs. 2,521.53 lakhs for Q4FY24. The Consolidated Profit After Tax for Q1 FY25 is Rs. 3,021.89 lakhs as against Rs. 657.63 lakhs for Q1 FY24 and Rs. 1,961.27 lakhs for Q4FY24.

Commenting on the Q1 FY25 results, Mr. Am it Jain, Chairman and Managing Director, Arkade Developers Limited said, “India’s robust economy and proactive policies have positioned itself as a global leader. The Indian real estate market, particularly the luxury housing segment, has witnessed strong demand driven by urbanization and rising incomes. We are pleased to announce successful results for the quarter. We successfully launched Arkade Views & Vistas and have given possessions of over 380 homes to satisfied customers at Arkade Aspire and Arkade Crown in the last quarter. We are also preparing to launch Arkade Rare in Bhandup West and are expanding presence through strategic land acquisitions in MMR. Our promise to sustainable growth and creating value for all stakeholders remains constant”

New Delhi, 14th October, 2024: GrowthJockey, India’s first full-stack Venture Architect company, appoints Mr. Mrinal as its Vice President of Technology. With over 14 years of experience, Mrinal has established himself as a leader in the technology space, having built a career that started at Google, where he spent nearly a decade leading innovative projects and building scalable solutions. After Google, he took on key strategic roles at Misys and Johnson Controls, where he managed global engineering teams and implemented agile development strategies that transformed business operations.

In his new role, Mrinal will lead GrowthJockey’s technology strategy, driving the development of cutting-edge platforms that blend AI and machine learning with high-growth business solutions. His leadership will be instrumental in expanding GrowthJockey’s corporate venture incubation efforts, helping large enterprises build, scale, and accelerate new ventures that capitalize on market opportunities and disruptive technologies.

“Mrinal’s extensive experience in leading complex global projects and his focus on AI and scalable solutions will enable GrowthJockey to deliver world-class digital transformations and incubate high-value corporate ventures,” said Aresh Mishra, CTO of GrowthJockey. “We are excited to have him lead the next chapter of our growth as we continue to empower businesses through innovative technology and venture incubation.”

Mr. Mrinal added, “I am excited to be part of GrowthJockey at such a crucial time in the industry. The pace of technological innovation is creating new opportunities, and GrowthJockey is uniquely positioned to lead this charge. I look forward to working with the team to drive our vision of creating bold and innovative ventures that impact businesses across industries.”

Ashutosh Kumar, CEO of GrowthJockey, stated “We are excited to have Mrinal join our leadership team. His wealth of experience and leadership in technology will be invaluable as we continue to scale and innovate in the venture architecture space. Mrinal’s ability to blend strategic vision with execution will undoubtedly help us accelerate the pace at which we deliver transformative solutions for our clients.”

GrowthJockey disrupts the present and creates the future by building bold new products, services, and businesses. Founded in 2020 and headquartered in Gurgaon, GrowthJockey is at the forefront of venture architecture, committed to fostering innovation and driving businesses to new heights. With a vision that the future is crafted by those who dare to build, their team merges cutting-edge technology with bold entrepreneurial ventures to spark and expand innovative solutions. Featuring a multifaceted team of experts in venture design and building, product, P&L management, design thinking, digital strategy, branding, and data & AI from diverse fields, GrowthJockey is dedicated to developing ventures that drive substantial impact for businesses and society alike.

With a track record of over 500 large projects and 25+ Corporate Venture Incubation across 20+ industries, GrowthJockey has consistently achieved a customer satisfaction rate of over 95%. Notably, several ventures have surpassed the significant milestone of crossing Annual Recurring Revenue (ARR) of 100 crores within just 12 months, across sectors such as healthcare, BFSI, Energy and EV, ecommerce, D2C, Automobile, and FMEG. Backed by a team of over 200+ professionals with a strong entrepreneurial mindset, with 90% hailing from tier-1 institutes engineering, management and design colleges, ensures that clients receive top-notch expertise and service.

GrowthJockey has also made significant strides in AI innovation with its proprietary platform, intellsys.ai, helping businesses boost demand generation through data-driven sales and marketing strategies. intellsys with more than 100+ AI modules generate real time deep analytics and works as a co-pilot for digital marketer and business owners.

Mumbai, 10th October 2024: Ashnam, a premium home décor brand, has launched its new festive collection, ‘Serene Lights.’ Designed to bring elegance and calm to the festive season, the collection showcases beautiful pieces perfect for creating a peaceful and welcoming ambiance in any home.

The collection features exquisite pieces from polyresins, such as the Meditation Buddha in antique gold and bronze-grey, the Lotus Candle Buddha in bronze-grey, and stone-finish tealight holders. Each piece is handcrafted and hand-painted, offering a touch of tranquillity to festive celebrations and adding charm to everyday spaces. These artifacts blend the warmth of tradition with a modern aesthetic, providing homeowners with a unique way to adorn their living spaces during this festive period.

Speaking about this, Manojkumar Sharma, founder of Ashnam, said, “Our ‘Serene Lights’ collection is more than just decor; it is about bringing a sense of peace and mindfulness to the spaces we inhabit. Each piece is designed to inspire calm and connection, allowing homeowners to elevate their surroundings with timeless beauty during the festive season and beyond.”

The brand’s vision includes scaling up its operations, catering to a broader market segment, and becoming a BSE-listed company in the future.

The ‘Serene Lights’ collection is now available across Ashnam’s retail network and online channels, ready to grace homes this festive season.

New Delhi, October 10th, 2024: Signature Global (BSE: 543990 | NSE: SIGNATURE), amongst the leading real estate development companies in India with a well-established brand in Delhi-NCR, has reported its best-ever half-year pre-sales with INR 59.0 billion in H1FY25, reflecting an impressive 217% growth year-on-year. With these pre-sales’ performance, the company has already achieved 59% of its sales guidance of INR 100 billion for FY25. These strong pre-sales performance was driven by the successful launch of a mid-income housing project in Sohna, South Gurugram, and a large group housing project on SPR Road, Gurugram. Despite the “Shradhh” period, Q2FY25 pre-sales amounted to INR 27.8 billion, a 184% increase against the Q2FY 24.

The Company’s collections in H1 FY25 grew by 60% to INR 21.3 billion. Net debt stood at INR 10.2 billion at the end of H1 FY25 in comparison to INR 11.6 billion as at the end of FY24.

Commenting on the company’s performance, Mr. Pradeep Kumar Aggarwal, Chairman and Whole- Time Director, said ” We feel both humbled and elated by our operational growth, which is the result of our team’s commitment to efficiency and thoughtful expansion. We’re also excited about how our investments in innovation are making us stronger. As we move forward, we’re confident in maintaining this momentum and building on our shared achievements.

Our resilience in the face of market fluctuations underscores the strength of our business model and our ability to adapt to evolving industry dynamics. As we scale new heights, we remain dedicated to enhancing shareholder value and driving sustainable growth. Our focus on premium and mid-housing projects, strategic land acquisitions, and the introduction of new customer-centric initiatives will ensure we stay ahead of the curve. We are well-positioned to seize emerging opportunities and further reinforce Signature Global’s leadership in the sector.”

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.

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.

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.

Estates are often large expanses of cultivated land, and people sometimes worry that farming on such a scale could disrupt the natural balance of the local ecosystem.

However, some estates are showing that it’s possible to create environments where agriculture and nature thrive side by side. These estates take a thoughtful approach, ensuring that their practices enhance rather than harm the biodiversity around them. In India, a few such estates are leading the way in proving that cultivation can be a force for environmental harmony and preservation. Let’s explore their impact on biodiversity conservation.

Let’s take a closer look at what they are doing:

Elkhill Estates

Elkhill Estates, nestled in Coorg’s peaceful hills, is a sanctuary where sustainable agriculture and conservation meet. Acquired by Orange County Resorts and Hotels Ltd. in 2023, Elkhill spans over 1,008 hectares and produces premium coffee, including organic varieties. With a deep commitment to environmental sustainability, the estate prioritizes biodiversity, protecting local flora and fauna through native tree planting and land restoration efforts.

When you visit or enjoy their coffee, you are contributing to an initiative that goes beyond farming. It’s about preserving the land, restoring native species, and uplifting the rich biodiversity of the region. Every cup of coffee is a step toward building a sustainable, harmonious future for both the environment and its people.

Cauvery Peak Estates

Cauvery Peak Estates, in the misty hills of the Western Ghats, has perfected the art of growing coffee, fruits, and spices by working with nature. Their philosophy is simple: farming should help, not harm, the land. By using two layers of shade trees, organic compost, and relying on natural rainfall, they create a microclimate where their crops and local wildlife can thrive together.

But Cauvery Peak’s commitment goes beyond growing coffee. The shade trees not only protect the coffee plants but also create a home for rare birds, mammals, and reptiles. This careful balance ensures that every element of the estate supports a thriving ecosystem. So here, the coffee is not just rich in flavor; it is grown with a deep respect for the land and biodiversity.

Kerehaklu Estate

The Kerehaklu Estate in Chikkamagaluru has garnered significant attention for its efforts to safeguard biodiversity. Covering 250 acres, Kerehaklu Estate is a sanctuary for local wildlife. Kerehaklu takes pride in preserving a habitat that sustains both plants and animals, thereby safeguarding the local ecosystem.

Kerehaklu’s dedication to creating a space where wildlife and farming can coexist helps support a wide range of species. Here, it is not about merely growing and laying out crops, but rather how caring for land and all the flora and fauna living on it creates a beautiful balance between agriculture and nature.

Tenzing Bodosa’s tea estate

Tenzing Bodosa’s Elephant-Friendly Tea Estate in Assam has adopted a unique approach to biodiversity conservation by prioritizing the protection of elephants. Instead of viewing the elephants as enemies for their tea fields, they’ve figured out a way to share the land with them peacefully.

The estate’s farming practices allow elephants to move freely through their land, making it one of the few places where humans and wildlife truly coexist. The estates protect the natural habitat and plant native shade trees, thereby conserving the ecosystem as well as producing excellent-quality tea.