Chennai, 24 September 2024: Casagrand Premier Builder, the largest developer in the residential sector is a well-known residential brand in Chennai (Tamil Nadu) with a market share of approximately 24% in terms of launches and approximately 20% in terms of demand during the period January 1, 2017 to March 31, 2024, has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,100 crore through an initial public offering (IPO).

The IPO with a face value of Rs 2 per equity share is a mix of fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 100 crore by Promoter Selling Shareholders.

The offer for sale consists of the sale of equity shares up to Rs 50 crore each by Arun MN and Casagrand Luxor Private Ltd.

The company, in consultation with the book-running lead managers, may consider a further issue of equity shares through a preferential offer or any other method aggregating up to Rs 200 crores, as pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.

The Offer is being made through the book-building process, wherein not less than 75% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, and not more than 15% shall be available for allocation to non-institutional bidders. Not more than 10% of the offer shall be available for allocation to retail individual investors.

The proceeds from the fresh issue to the extent of Rs 150 crore will be used for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company; Rs 650 crore for prepayment or repayment, in full or part, of all or a portion of certain exceptional borrowings availed by its wholly owned Subsidiaries namely CG Magick, CG Civil Engineering, CG Garden City, CG Milestone, CG Grace, CG Horizons, CG Smart Value Homes, CG Bizpark, CG Everta, CG Hyderwise, CG Lotus, CG Zingo, and wholly-owned step-down Subsidiaries namely CG Anchor and Danub Homes, through investment in such wholly owned Subsidiaries/ step-down Subsidiaries; and general corporate purposes.

Incorporated in 2003, under the leadership of Arun MN, Casagrand has expanded its presence across key micro-markets in Chennai (Tamil Nadu), offering a diverse range of residential projects. These include apartments of various sizes and independent villas, catering to luxury, mid-range, and affordable segments, all under the “Casagrand” brand, with a particular focus on mid-range offerings.

It has developed in-house capabilities for every stage of the project development life-cycle, commencing from identification and acquisition of land parcels to execution, which involves designing, planning, construction, marketing, and sales and culminating in project delivery.

Casagrand has also extended its operations to other South Indian cities like Bengaluru (Karnataka), Hyderabad (Telangana), and Coimbatore (Tamil Nadu). As of May 31, 2024, the company had completed 101 projects with a saleable area of 21.45 million square feet, was working on 42 ongoing projects spanning 33.60 million square feet, and had 17 upcoming projects with an estimated saleable area of 13.15 million square feet. In FY 2024, it achieved pre-sales volumes of 7.24 million square feet of saleable area.

According to a CBRE report mentioned in the DRHP, Casagrand is recognized for its residential brand in Chennai (Tamil Nadu), known for delivering high-quality, product-driven solutions within set timelines. Among its ongoing projects are ‘Casagrand Vivacity’ in Bengaluru’s Chikkanagamangala Village, ‘Casagrand Suncity Phase I’ in Melakottaiyur, Chennai, and ‘Casagrand Casablanca’ in Bengaluru’s Mallasandra Village. Its completed projects include ‘Casagrand Supremus’ and ‘Casagrand Zenith Phase I,’ both in Chennai.

As of May 31, 2024, Casagrand has a sales team of 825 people and opened an office in Dubai in November 2016 to serve non-resident Indians interested in properties across its operational cities. The company also has a history in warehousing through its former subsidiary, Casa Grande Distripark Private Limited, which completed two projects in Chennai at Mappedu and Mahindra World City Industrial Park in 2018, covering a total leasable area of 2.23 million square feet. As of May 2024, it had four additional warehousing projects in Chennai, alongside a commercial office project of 0.59 million square feet acquired in September 2023. Two other commercial office projects in Chennai, totaling 0.51 million square feet, are under construction.

Casagrand Premier’s revenue from operations increased at a CAGR of 18.02% from ₹ 1,876.82 crore in Fiscal 2022 to ₹ 2,613.99 crore in Fiscal 2024. Profit after tax increased from ₹ 146.08 crore in Fiscal 2022 to ₹ 256.95 crore in Fiscal 2024 at a CAGR of 32.63%.

JM Financial Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue and KFin Technologies Limited is the registrar to the offer.

INDIA, September 24, 2024 – Honeywell (Nasdaq: HON) today announced that it is working to develop an artificial intelligence (AI)-enabled Multi-Modal Intelligent Agent for Honeywell mobile devices powered by Qualcomm Technologies, Inc. The agent will allow workers and customers in the distribution center and retail industries to interact naturally with their handheld devices through voice, pictures, and barcodes.

This AI-powered solution is built to function as a digital resource for the modern labor force and designed to enable today’s stretched workforce to quickly tap into answers and outcomes, helping result in time savings, greater accuracy, and interactive results. The design and development of the Multi-Modal Intelligent Agent also supports Honeywell’s alignment of its portfolio to three compelling megatrends, including automation.

Workers will be able to enter data into the technology and then receive practical answers to queries like, “Do we have the gluten-free variant of this product in stock?” or “Where can I find this particular item in the store?” Depending on the question, users will receive responses in the form of an image, video, spoken response, text answer, or a combination of several modalities. This functionality is designed to enable workers to more efficiently complete their work while simultaneously navigating other ongoing tasks, such as assisting customers in a retail setting or performing multi-step workflows in a distribution center. The solution will be available to users through a software development kit that can integrate with an organization’s existing applications and systems.

“Utilizing our strengths in on-device generative AI, high-performance and low power computing, this collaboration with Honeywell underscores our commitment to pioneering innovative solutions that will propel the expansion of the connected intelligent edge,” said Nakul Duggal, group general manager, of automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. “Honeywell’s new Multi-Modal Intelligent Agent represents a significant step forward in utilizing advanced edge AI to streamline operations and elevate customer interactions across industries. This initiative enables us to drive digital transformation, enhancing how businesses interact with their environments through intelligent and responsive technology.”

“By pairing Honeywell’s easy-to-use mobile devices and intelligent software with Qualcomm Technologies’ industry-leading edge AI processors, Honeywell is creating solutions to make workers’ jobs easier while also helping businesses produce the stellar experience they want for their customers,” said Jason Urso, Honeywell Industrial Automation chief technology officer. “With AI, Honeywell is amplifying what’s possible for businesses with mobile workers today.”

The Multi-Modal Intelligent Agent is expected to be available in early 2025. To learn more about how Honeywell is leveraging AI across key industries, visit: https://automation.honeywell.com/us/en/solutions/productivity.

Meghalaya, renowned for its verdant landscapes and rich biodiversity, is emerging as a key hub for organic farming in India. The state has embarked on various initiatives aimed at transforming agricultural practices and promoting sustainable livelihoods for its farmers. The state has been diligently implementing various schemes initiated by both the Central and State Governments to encourage the conversion of agricultural land into certified organic holdings. Notable among these initiatives is the Meghalaya Organic Value Chain Development for Northeastern Region (MOVCDNER) scheme, the State Organic Mission which has the ambitious objective of converting and sustaining 1 lakh hectares of land into certified organic. At present, 24,000 hectares of land have achieved organic certification, while an additional 8,000 hectares are in the conversion phase.

To further support and consolidate these efforts, the Cabinet approved the Meghalaya State Organic and Natural Farming policy on 11th January 2023. The policy outlines key objectives, including promoting organic farming as a sustainable income-generating activity for farmers, facilitating capacity building, investment, and technology development, and increasing farmers’ income through training, value addition, and market linkage.

To drive the effective implementation of this policy, the Meghalaya Natural and Organic Society for Livelihood and Innovation in Agriculture (MEGNOLIA) was established on June 1, 2023. Registered under the Societies Registration Act, MEGNOLIA functions as the apex body under the Department of Agriculture and Farmers’ Welfare Government of Meghalaya responsible for overseeing, coordinating, and executing the Organic and Natural Farming Policy in Meghalaya. MEGNOLIA’s primary goals include managing the implementation of the policy, supporting Farmer Producer Organizations (FPOs) and Farmer Producer Companies (FPCs) to professionalize organic production and marketing, promoting agro-industrial growth rooted in ecological sustainability, facilitating technology transfer, and fostering knowledge sharing among stakeholders.

Certification plays a critical role in organic farming. In Meghalaya, certification bodies ensure that farming practices adhere to the rigorous standards set by national and international organizations. Meghalaya now has its own APEDA-certified organic certification agency, the Meghalaya State Organic Certification Body, under the Planning Department. This makes it only the second such agency in the Northeast, following the Sikkim State Organic Certification Agency. With this development, the organic certification process for our farmers becomes more streamlined, as they no longer need to rely on agencies primarily based in Western and Southern India.

A major milestone in advancing Meghalaya’s organic farming sector was the signing of a Memorandum of Understanding (MOU) between MEGNOLIA and the National Cooperatives of Organic Limited (NCOL) on September 20, 2024 in the World Food India 2024. This partnership seeks to improve the procurement, marketing, and sale of organic products from Meghalaya. As part of the MOU, MEGNOLIA will link certified organic farmers with NCOL, help them obtain procurement approvals, and cover the costs of organic certification. In turn, NCOL will purchase organic products from these farmers, manage logistics, and ensure direct compensation to both farmers and service providers. This collaboration marks a significant step toward establishing a sustainable and profitable organic farming model in Meghalaya, improving farmer livelihoods while fostering environmental stewardship.

The government’s initiatives, embodied in the organic farming policy and led by MEGNOLIA, signal a bright future for organic agriculture in Meghalaya. Strategic partnerships, such as the one with NCOL, position the state to meet the growing demand for organic produce and champion sustainable farming practices that benefit both farmers and the environment.

Sydney, Australia, 23rd September 2024: India continues to be the fastest growing economy driven by strong domestic demand, improving business environment and supportive as well as forward-looking developmental policy initiatives. As India heads towards its centenary year of independence, real estate will play a pivotal role in economic growth trajectory of the country. This long-term growth in real estate is underpinned by six salient growth levers which includes, rapid urbanization, infrastructure development, digitalization, demographic shifts, sustainability and investment diversification; all of which will form the bedrock for a quantum leap in Indian real estate by 2047. These long-term growth ingredients will be pivotal in the expansion of Indian real estate – from under a trillion currently, to potentially a USD 10 trillion market by 2047, accounting for a 14-20% share in the country’s GDP.

The interplay between real estate and India’s economic growth journey over the next few decades is explored in the latest report “Indian Real estate: The Quantum Leap” by Colliers in collaboration with the Confederation of Real Estate Developers’ Associations of India (CREDAI) and released at the CREDAI NATCON event in Sydney. Most importantly, the quantum leap will create multiple real estate hotspots in its wake. Along the accelerated journey till 2047, various real estate segments will evolve and continue to proliferate, growing and maturing by varying degrees. Core assets such as office & residential real estate are likely to mature further and alternative assets such as data centers & senior living will embark upon strong growth trajectories. Market consolidation, fair-pricing and institutionalization will become more pervasive across asset classes, especially in the industrial & warehousing segment.

Likely transformation of real estate segments in India (2024 to 2047)

Shifting demographics and rising urbanization to spur long-term real estate demand

With shifting demographic pattern in India, the median age is likely to increase from ~30 years to ~40 years by 2050. Further, half of the Indian population is projected to live in urban agglomerations by 2050. With rapid urbanization and supporting factors like infrastructure growth & employment opportunities, real estate traction is likely to expand beyond the tier I cities and create dispersed growth centers in smaller towns & cities. Peripheral areas of established cities and tier II & III cities of the country will particularly witness accelerated real estate development across asset classes.

Shifting demographics will drive real estate activity, especially in housing and retail asset classes. With a significant portion of the Indian population likely to fall in the sweet spot of ‘First-time homebuyer’ age-bracket, healthy traction across housing categories is expected in the next few decades. Additionally, population with a significant share of older people can potentially speed up investments in the senior living market.

“With the interplay of dynamic factors such as rapid urbanization, rising median age, and technological advancements, we are on the brink of a quantum leap, entering a new era of growth and diversification. By 2047, an estimated 50% of India’s population will reside in urban centers, creating unprecedented demand across residential, office, and retail spaces. Alternative segments like senior living, co-living, and data centers will also witness exponential growth, driven by evolving consumer preferences and technological integration, with a focus on sustainability and energy efficiency becoming a standard across developments. As India navigates this exciting trajectory, the real estate sector will continue to attract institutional investments, fostering transparency, fair pricing, and global competitiveness. Being a leading industry body, CREDAI looks forward to working with various stakeholders to ensure that Indian real estate witnesses sustained and sustainable growth in the decades to come,” said Boman Irani, President, CREDAI National.

 “India has set its sight on becoming a USD 10 trillion real estate market, driven by the sector’s ability to adapt and innovate. Landmark initiatives such as RERA and REIT regulations have enhanced transparency, improved investor confidence, and streamlined operations across the sector. These reforms, alongside critical programs like PMAY and Gati Shakti, are creating a conducive environment for sustained real estate development. The government’s focus on affordable housing, infrastructure modernization, and industrial corridors have transformed both urban and rural landscapes, driving growth beyond traditional hubs. This transformation is creating vibrant opportunities for developers, investors, and homebuyers alike.  As we move forward, real estate will continue to be a catalyst for employment generation, economic resilience, and sustainable urbanization, reinforcing its role as a key pillar in India’s economic growth story,” said Manoj Gaur, Chairman, CREDAI National

As India commences on a period of expansion across most economic sectors, real estate is set for a ‘Quantum Leap’, with multiple growth opportunities arising along the accelerated journey phase. Favorable demographics and urbanization trends are likely to accentuate the emergence of over hundred – million plus cities by 2047. This in turn presents a case for emergence of multiple real estate hotspots dispersed across the country. Residential, office and retail segments, particularly, are expected to mature significantly in the next few decades, creating substantial opportunities for investors, developers and occupiers,” said Badal Yagnik, Chief Executive Officer, Colliers India

Infrastructure enhancement & supportive regulatory framework, imperative for fostering long-term real estate growth

Infrastructure augmentation and policy-level push have enabled the Indian real estate to sail through multiple ebbs and flows of property cycles. Throughout last few decades, key regulatory frameworks and acts such as the RERA Act, PMAY, and REIT Regulations have provided a boost to investor and end-user participation. Policies and regulations for Logistics and Data Centers have been instrumental in the accelerated growth of newer real estate frontiers.  Furthermore, flagship programmes such as the Golden Quadrilateral Project, PM Gati Shakti Master Plan, ‘Make in India’ Programme and National Infrastructure Pipeline have positively impacted multiple real estate segments across the country, particularly the industrial & warehousing segment. With high-volume freight movement along industrial corridors, we can anticipate amplified requirement for warehouses, logistics hubs, and manufacturing units across multiple smaller locations in the country.

Over the next few years, asset classes under REITs/SM REITs will expand beyond office and retail to include warehouses, hotels, and rent-yielding residential properties. In the long-term, such financing avenues will become prevalent in alternate real estate verticals such as data centers, hospitals, educational institutes, senior and student living accommodations etc.

Alternate investments to become mainstream

Over the years, driven by strong domestic growth prospects, improvements in ease of doing business, and continual FDI relaxations, foreign capital inflow has grown significantly across diverse sectors. Institutional investments in the real estate sector in the last decade has crossed USD 60 billion, with majority being funded by foreign players. The anticipated spurt in foreign capital and equally strong contribution from domestic investors will fast-track the adoption of alternate funding strategies in Indian real estate. Green financing in the form of bonds & credit issuances and relatively newer financing avenues such as social-impact, distressed, special situation, and venture capital funds will become more prevalent in the next few years.

Digitalization & Sustainability will be the central themes in the future of real estate

Over the next few years, the Indian real estate sector will increasingly embrace digitalization across aspects ranging from planning, design & construction to property & facilities management. PropTech and Metaverse are likely to mature and elevate Indian real estate to global standards of operational efficiency, transparency and accountability. Increased data consumption, growing internet penetration, rise of online services, digitalization of businesses, and stricter adherence to data localization regulations are expected to spur demand for co-location and edge data centers closer to demand hubs.

Advanced technologies will also play a major role in decarbonizing the real estate sector. With focus on built spaces, developers will incorporate sustainable elements at every stage of construction. Green-certifications in the office market will particularly become a hygiene-factor and green-adoption levels are likely to increase from about 60-70% to almost 100% over the next few years.

Mumbai, 23rd September 2024 – As the festive season kicks off, the Indian real estate market is poised for record growth, with buyer demand hitting new highs. Traditionally regarded as an auspicious time for investments, this period is marked by heightened activity from both developers and homebuyers alike. Favorable market conditions, including low-interest rates, government incentives, and the rise of first-time homebuyers, are fueling this boom, particularly in prime locations and affordable housing segments. A significant uptick in inquiries and bookings has been reported, as the auspicious periods of Diwali and Dhanteras approach—key moments for home-buying in India. Industry experts believe this surge is set to continue throughout the season, with developers offering tailored schemes to attract buyers.

Shitij Kaushal, Head of mymagnet.io, a channel sales arm of Homesfy Realty Limited, commented on the trend:
“This year, we’re seeing flexible payment plans requiring only 10% to 20% upfront, this was the trend especially around Ganesh Chaturthi. These plans are encouraging buyers to make purchases with minimal down payments—a trend that first gained traction last year. During the previous festive season, property registrations jumped by 30% compared to 2022, with this time being seen as a prime opportunity for purchasing homes and starting new ventures. Developers are in sync with consumer sentiment and have strategically planned new launches to coincide with the festive period.”

According to a report, sales in H1 2024 reached 1,73,241 units across the top 8 cities, marking the highest volume in the past decade. Market sentiment remains optimistic for the second half of the year, as developers prepare to align their offerings with the festive spirit. Additional incentives, such as stamp duty waivers, construction-linked payment plans, and promotional giveaways like gold coins and electronic devices, are expected to be rolled out to entice potential buyers.

Shitij Kaushal further added, “The prediction is that this positive momentum will continue even after the festive season, with developers leveraging value-driven incentives to maintain buyer interest. The Indian real estate sector is set for sustained growth throughout 2024, driven by consumer-friendly schemes, favorable market conditions, and a strong inclination towards homeownership.”

With favorable payment options, rising consumer confidence, and strategic offers from developers, the festive season is projected to solidify the sector’s upward trajectory well into 2025, cementing the Indian real estate market as a key driver of economic growth.

Antica Ceramica, a leading tile manufacturer in India, has launched its latest innovation, the Stonet Outdoor Tile Collection, designed to transform exterior spaces such as patios, terraces, and poolside areas into beautiful and functional environments. The collection combines durability, slip resistance, and eco-friendliness with aesthetic appeal, making it a perfect choice for modern outdoor living.

With outdoor spaces becoming essential extensions of homes, the right flooring is crucial. The Stonet Collection provides tiles that not only enhance the beauty of outdoor areas but also ensure long-lasting performance. Designed to withstand harsh weather conditions such as rain, heat, and frost, the tiles offer resistance to wear and tear, ensuring they retain their appearance and functionality over time.

Safety is a key consideration for outdoor surfaces, especially around pools or garden pathways. The Stonet tiles feature slip-resistant surfaces, providing better grip even in wet conditions, reducing the risk of slips and falls. Additionally, the tiles are low maintenance, resisting stains, mold, and mildew, and can be easily cleaned, making them ideal for high-traffic areas.

The collection offers a wide range of styles, materials, colors, and textures, allowing homeowners to create unique and visually appealing outdoor spaces. From rustic stone finishes to sleek modern looks, the Stonet tiles cater to a variety of design preferences. For environmentally conscious buyers, the collection includes eco-friendly options made from natural stone and sustainable materials, offering a green solution for outdoor design.

Rahul Bhugra, Director of Antica Ceramica, commented on the new launch: “With the Stonet Outdoor Tile Collection, we aim to give homeowners and designers a versatile, high-performance tile solution that enhances the beauty and safety of outdoor spaces. We believe this collection will inspire new ideas in exterior design and deliver long-lasting value.”

Antica Ceramica’s Stonet Collection also includes outdoor-grade ceramic tiles, providing a budget-friendly option for those looking to enhance their outdoor areas. These tiles come in a variety of patterns and colors, offering decent performance in moderate climates.

As a trusted name in the tile manufacturing industry, Antica Ceramica continues to innovate and set benchmarks with its premium tile solutions. The Stonet Outdoor Tile Collection reaffirms the company’s commitment to creating products that blend style, functionality, and durability for both residential and commercial projects.

Mumbai, 23rd September, 2024: Aparna Constructions and Estates Private Limited, a leading real estate developer in South India, has donated INR 1 crore each to the Chief Minister’s Relief Fund in Telangana and the Andhra Pradesh State Disaster Management Authority. The donation comes in response to the devastating floods that have recently impacted both states.

In light of the ongoing efforts to provide aid and relief to affected communities, the funds will be directed toward disaster management and rehabilitation initiatives. Over their journey of 28 years, Aparna Constructions has been committed to contributing to social welfare and holistic community development in the regions of Telangana and Andhra Pradesh.

“Telangana and Andhra Pradesh has been at the core of Aparna Group, and we are deeply focused on assisting local communities, who are facing frequent climate complexities. Addressing the current situation, our contribution to the CM Relief Fund and the State Disaster Management Authority, is an extension of our commitment and will be dedicated towards rehabilitation in the regions. At Aparna Constructions, giving back to the communities is not just a responsibility but a privilege and we will continue lending our support in every way we can”, said Mr. S.S. Reddy, Managing Director, Aparna Constructions and Estates.

In the past, Aparna Constructions has donated INR 5 crore toward Covid-19 relief efforts. The company has consistently taken initiatives that extend beyond real estate development, highlighting its commitment to corporate social responsibility and community-driven projects.

Aparna Constructions also runs an ongoing initiative, AparnaAnswer.org, aimed at making a difference in the lives of vulnerable children by providing quality education, a secure home, and ensuring their nutrition, health, and well-being. Since its inception, this initiative has helped children lead a better quality of life and grow up to become responsible citizens of the country.

New Delhi, 23rd September 2024: Gurugram based real estate developer, Signature Global, who has a focus on realty projects in Northern India has appointed ACC India Pvt Ltd for Civil, Structure and Part MEP work for all the Towers, Basements and Other Ancillary Buildings for its residential group housing project in Sector 84, Gurugram, Haryana which is located along the rapidly developing Dwarka Expressway.

The LOI dated September 12, 2024 determines the total contract value to be Rs 320 crs. It additional determines that the completion period of the project as 27 months from the date of commencement of work and 3 months from complete handing over of work.

On the announcement of the appointment Mr Lalit Aggarwal, Vice Chairman, Signature Global said “This is going to be one of the finest projects that we will be executing and will be a crowning jewel in our portfolio. While I cannot share too many details of the project until it is officially launched, I can definitely share that it will span four and a half acres and exhibit architectural brilliance. Also, it’ll be one of the tallest in the area and Arabian Construction Company, along with their Indian subsidiary ACC India, is known for constructing many prominent towers in the Middle East and India, showcasing their proven expertise in delivering this project. We have proudly delivered approximately 11 million sq. ft. across projects and more than 30,000 happy customers since our inception in 2014 and have a robust pipeline too.”

On ACCs appointment, Mr Ani Ray, Managing Director, ACC India Pvt Ltd said “It’s a privilege to be associated with Signature Global for its Twin Towers DXP project and we look forward to completing the project in the time limit prescribed. It gives us utmost joy to build homes for the aspiring and growing population in the country. ACC has been associated with landmark projects such as World ONE (84 floors, 285 Meter) of Lodha Developers in Mumbai; 88 East Kolkata of Tata Housing & Keventers, and The 42 (62 floor, 255 Meter) besides ongoing projects in Delhi + NCR for DLF, TARC and Unity Group Projects and others across major metros”