India Assist Hits 50,000 Mark at MahaKumbh 2025 Supporting Pilgrims
Delhi: As millions of devotees gather at Mahakumbh 2025, India Assist, in collaboration with the Uttar Pradesh Government, has reached a major milestone of successfully providing over 50,000 assistances to pilgrims and travelers. This achievement reinforces India Assist’s role as a trusted travel assistance partner, offering navigation support, real-time guidance, and emergency aid at one of the world’s most significant religious congregations.
The spiritual and cultural phenomenon of Mahakumbh draws millions from across India and beyond. Amidst the vastness and energy of the Kumbh, navigating the grounds, finding assistance, or dealing with unexpected situations can be overwhelming. Recognizing these challenges, India Assist has been managing Tourist Information Centres (TICs) at key locations, including railway stations, the airport, and within the Kumbh Mela grounds. These TICs provide 24/7 tech-enabled assistance, helping visitors with navigation, medical emergencies, lost belongings, language barriers, and real-time updates on crowd movement and accessibility.
Beyond logistical help, India Assist has played a crucial role in reuniting families and resolving travel concerns. Over 17 families who lost their way in the crowd have been successfully reunited, and numerous travelers have received immediate help in distressing situations. One such instance involved a pilgrim struggling to locate his pre-booked cab and tent accommodation. India Assist’s team of on-ground staff stepped in, navigated him to the right location, and arranged alternative transport when needed. In another case, a visitor who fell victim to fraud was guided to the nearest police station, ensuring a swift resolution to his concerns.
Speaking on this milestone, Mr. Aakalp Johari, Co-founder and CEO of India Assist, shared his thoughts on the heartfelt impact of the initiative, “Mahakumbh 2025 has reaffirmed our belief that a combination of human empathy and technology-driven assistance can transform the way people travel. We have seen firsthand how the TICs have made a difference—whether it’s guiding lost pilgrims, providing emergency support, or simply offering a reassuring presence in a massive crowd. Our goal has always been to bridge the gap between tradition and technology, ensuring every traveler feels safe, informed, and cared for. We thank the Uttar Pradesh Government for their partnership and look forward to continuing our mission of making travel stress-free across India.”
Airtel Ranked Best Network in Tamil Nadu Says TRAI Report
Chennai, Tamil Nadu – 15th Feb 2025 – Bharti Airtel has reaffirmed its leadership in network performance, delivering exceptional voice and data connectivity in Tamil Nadu, as per the latest TRAI Independent Drive Test Report for November 2024. The report highlights Airtel’s superior performance in call quality, reliability, and data speeds, cementing its position as the preferred network in the state.
Airtel achieved a 100% call setup success rate (metric used in telecom networks to measure the percentage of successfully established calls out of the total attempted calls), auto-selection mode (5G/4G/3G/2G), demonstrating its highly reliable voice network. Additionally, the network recorded zero call drops across the state, including key city locations and hotspot areas, ensuring an uninterrupted calling experience for users. Airtel also led the industry with the fastest call setup time (time taken to mature a call after dialing, clocking in at just 0.41 seconds, significantly ahead of competition. Further enhancing its voice quality credentials, Airtel recorded an average Mean Opinion Score (MOS) (The Mean Opinion Score (MOS) is a standard metric used to measure the quality of voice and video communication services) of 4.06 (out of 5), with 89.17% of calls rated as Excellent, highlighting its crystal-clear voice experience. Additionally, Airtel maintained a 100% inter-operator call success rate with competition ensuring seamless connectivity across networks.
In the realm of data performance, Airtel delivered an industry-leading average upload speed of 42.12 Mbps, outpacing competition. This high-speed connectivity enables users to enjoy lag-free video calls, faster cloud uploads, and seamless social media experiences.
With these stellar results, Airtel continues to set benchmarks in network excellence, offering its customers in Tamil Nadu an unmatched combination of reliability, speed, and voice clarity. The company’s continuous investments in network infrastructure and technological advancements reaffirm its commitment to providing world-class connectivity.
Navi Restructures Appoints New CEOs for Technologies and Finserv
National, February 15, 2025: Navi today announced that it has appointed Rajiv Naresh as the CEO of Navi Technologies Limited (“NTL”) and Abhishek Dwivedi as CEO of Navi Finserv Limited (“NFL”). The existing CEO for both companies, Sachin Bansal, will continue to serve in the capacity of Executive Chairman of the Navi Group.
Both Rajiv and Abhishek are part of the early founding team of the organization and have held various leadership roles within the Navi Group over the past six years.
“This restructuring is a strategic milestone that enables us to sharpen our focus on long-term growth. Both Rajiv and Abhishek have played key roles in our growth and I am confident that we will continue on this upward trajectory as they assume their new roles ” said Sachin.
“Holding the position of Executive Chairman also allows me to dedicate my efforts to guiding the overall vision of Navi Group, while Rajiv and Abhishek will lead their respective businesses with a continued commitment to innovation and excellence.” Sachin’s remarks underscore the group’s confidence in this transition, emphasizing that it is a proactive evolution designed to enhance performance rather than a response to any challenges.
The restructuring, including leadership transitions, is a proactive strategy aimed at scaling operations and focussing on long-term growth. Sachin will focus on Navi’s long-term strategic vision, exploring expansion opportunities, steering fund-raising and M&A efforts and enhancing compliance and risk management across the group. He will also be involved in driving Navi’s tech org by leveraging the innovations happening in tech and data science, while closely guiding the professional management team led by Rajiv and Abhishek, in operating the respective businesses.
Once the proposed changes are implemented, all lending businesses will be headed by Abhishek, while Rajiv will focus on the non-lending businesses within the Navi Group.
Founded with a mission to democratize access to financial services, the Navi Group has rapidly grown into a multi-faceted organization offering innovative and tech-first solutions across financial services including lending, payments, asset management, and general insurance. Over the years, the group has earned a reputation for its customer-centric approach and its ability to deliver value through cutting-edge products and services. The new leadership team is expected to build on this strong foundation, driving strategic initiatives that will enhance the group’s competitive edge.
India Pavilion Inaugurated at Uganda Healthcare & PackPlas 2025
15th February 2025: The 4th Edition of Uganda Healthcare and PackPlas was formally inaugurated today at the Multi-Purpose Hall, UMA Show Grounds, Lugogo, Kampala. Hon’ble Dr. Jane Ruth Aceng Ocero, Cabinet Minister of Health, Uganda, graced the occasion as the Chief Guest and officially declared the exhibition open. She commended PHDCCI for bringing the largest-ever Indian participation, strengthening trade ties between India and Uganda in the healthcare, pharma, and packaging sectors.
His Excellency Mr. Upendra Singh Rawat, High Commissioner of India to Uganda , delivered the Keynote Address as the Guest of Honour, highlighting India’s commitment to fostering business collaboration in the region.
Several distinguished dignitaries, including the Ambassador of Egypt, local officials, and industry leaders, attended the event alongside Indian and Ugandan exhibitors. Earlier, Hon’ble Dr. Jane Ruth Aceng Ocero and HCI Uganda formally cut the ribbon, marking the grand opening of the exhibition.
Speaking at the occasion, Rakesh Kumar Sangrai, Director, PHDCCI, expressed his gratitude to the Hon’ble Minister and the Ministry of Health, Uganda, for their unwavering support in making the India Participation a success. He also extended an invitation to the Hon’ble Minister to lead a business delegation to India, where PHDCCI will organize exclusive B2B meetings to enhance bilateral trade and investment in the healthcare and pharmaceutical sectors.
The India Pavilion, organized by PHDCCI with the support of the Department of Commerce, Ministry of Commerce & Industry, Government of India, features 30 leading Indian companies showcasing cutting- edge innovations in healthcare, pharmaceuticals, and packaging.
The event provides a crucial platform for industry stakeholders to explore opportunities, foster partnerships, and contribute to the development of the East African market.
Wishes and Blessings Cupcake Drive Spreads Joy to Underprivileged Children
New Delhi, February 15, 2025: Wishes and Blessings, a registered Delhi-based NGO dedicated to spreading happiness among the less privileged, successfully executed its Annual #WBLove Cupcake Drive, bringing joy and sweetness into the lives of underprivileged, homeless, and street children. Now in its 5th edition, this heartwarming initiative was carried out across multiple locations in Delhi, Noida, Chennai, Jamshedpur, and Bangalore on the 13th and 14th of February 2025, spreading love in a truly special way—through cupcakes.
Every Valentine’s Day, Wishes and Blessings ensures that children living in difficult conditions experience the joy of receiving a simple yet delightful treat—a cupcake, often their very first one. What began as a small initiative has now grown into an annual tradition, with compassionate bakers, volunteers, and donors joining hands to make a difference. The smiles, excitement, and sheer happiness on the faces of these children are a testament to the power of kindness and community spirit.
This year, the drive was executed at various locations across Delhi, Noida, Chennai, Jamshedpur, and Bangalore. On Day 1 (February 13th), the team visited Nehru Place, Delhi Cantt, and Sindhi Basti in Delhi, while in Chennai, volunteers reached out to children in key locations across the city. On Day 2 (February 14th), the drive continued in Noida, covering Sector 72, DND Control Room, and Sector 44, and was also carried out in Jamshedpur and Bangalore, ensuring that the warmth of love and kindness spread across these regions.
The impact of this initiative extends beyond just a sweet treat. It serves as a powerful reminder to these children that they are valued, loved, and remembered, reinforcing a sense of belonging and happiness. For many of them, a cupcake represents more than just food—it is a symbol of hope, care, and affection from a society that often overlooks them.
Speaking about the initiative, Dr. Geetanjali Chopra, the Founder and President of Wishes and Blessings, shared, “Love is best expressed through action, and what better way to show love than by making children smile? Through #WBLove, we are not just giving cupcakes; we are creating memories, building connections, and making these children feel special. Each cupcake carries the love and kindness of those who support this cause, and the joy it brings is immeasurable.”
Over the years, the #WBLove drive has grown significantly, reaching thousands of children and inspiring people from all walks of life to contribute. The overwhelming response from donors, bakers, and volunteers showcases the transformative power of collective compassion.
As the 5th edition of the #WBLove Cupcake Drive unfolds, Wishes and Blessings remains committed to spreading love, joy, and hope to those who need it most.
Toyota Kirloskar Motor Hosts 24-Hour Hackathon 2025 in Bangalore
Bangalore, 15th February 2025: Reinforcing its commitment to fostering innovation in road safety and celebrating ‘Road Safety Month’ (January 18 – February 17, 2025), Toyota Kirloskar Motor (TKM) today announced the successful completion of the 24-Hour Toyota Hackathon 2025 at R V Institute of Technology & Management, JP Nagar, Bangalore. This event marked the third and final chapter of TKM’s hackathon series for the year, following its successful editions in Delhi and Mumbai.
The Bangalore hackathon brought together over 400 young innovators from grades 9 to 11, representing nearly 100 schools. Participants showcased their creativity and technical acumen in developing practical solutions to critical road safety issues, aligning with TKM’s broader vision of achieving zero traffic fatalities. Graced by the presence of the Chief Guest Mr. S. Girish IPS Deputy Commissioner of Police, West along with TKM’s senior leadership, including Mr. Sudeep Dalvi, Chief Communication Officer, Senior Vice President & Head of State Affairs highlighted Toyota’s dedication to nurturing the next generation of changemakers.
India records the highest number of annual road crash fatalities globally. Each year, the country witnesses over 1,50,000 fatalities due to road accidents, with road traffic injuries being the leading cause of death for people aged 5-29 years. Recognizing this, TKM’s hackathon series across Delhi, Mumbai, and Bangalore has engaged students in the 2024-25 academic year, generating over 400 innovative concepts from Delhi, Mumbai and Bangalore aimed at addressing these challenges. By fostering critical thinking and solution-oriented approaches, the initiative equips young minds to tackle modern road safety challenges. It serves as a platform that not only unlocks the potential of these innovators but also transforms them into ‘Change Agents,’ driving positive behavioural changes within their communities and contributing significantly to advancing road safety.
Participants tackled themes such as Road Safety Awareness and Education, School Zone Safety, Traffic Management, and IoT Integration in Road Safety. They were encouraged to develop both digital and policy-driven solutions capable of reducing road accidents and saving lives. Each hackathon followed a structured five-phase journey: Team Selection and Idea Submission, Boot Camp Shortlisting, the 24-Hour Hackathon, and Incubation Support for the top teams. Out of 100 initial teams, 33 teams advanced to the final phase, with three winning teams receiving continued mentorship to refine and implement their solutions.
Present at the occasion, Chief Guest Mr. S. Girish IPS Deputy Commissioner of Police, West said, “The Toyota Hackathon is a testament to the power of young minds when given the opportunity to innovate. It is inspiring to see how students are channelling their creativity to address a critical issue like road safety. Initiatives like this not only nurture future leaders but also instil a sense of responsibility and purpose in creating a safer world. The enthusiasm and ingenuity I witnessed today reaffirm my belief in the potential of our youth to drive positive change. I applaud Toyota Kirloskar Motor for this impactful initiative and look forward to seeing these solutions translate into real-world benefits for society.”
Speaking at the event, Mr. Sudeep Dalvi, Chief Communication Officer, Senior Vice President & Head State Affairs, TKM, said, “At Toyota Kirloskar Motor, safety is at the heart of everything we do. The Toyota Hackathon is a reflection of our belief that empowering young minds to innovate is key to addressing societal challenges like road safety. By equipping students with the tools and mentorship to tackle real-world challenges, we are not only addressing road safety but also building a community of changemakers dedicated to societal progress. We remain committed to supporting their journey from ideas to implementation, ensuring safer roads for everyone.”
Road safety and education form the cornerstone of Toyota’s Corporate Social Responsibility (CSR) initiatives. The Toyota Hackathon, launched in 2018, complements the Toyota Safety Education Programme (TSEP), which has reached over 800,000 students since 2007. As the grand finale of the 2025 series, the Bangalore hackathon has set the stage for a brighter and safer future, showcasing the remarkable impact of empowering youth to address pressing societal challenges. With every milestone achieved, TKM reaffirms its leadership in advancing sustainable mobility and road safety.
Uptown Mall Hosts a Musical Valentine’s Celebration with Lekka
February 15, Noida— This Valentine’s Day, Uptown by Advant invites couples, friends, and music lovers to an evening filled with love, music, and celebration. Renowned singer Lekka will take the stage for a soul-stirring live performance, making the night truly unforgettable.
One of India’s most dynamic trilingual artists, Lekka seamlessly blends English, Hindi, and Punjabi in her music. She has released hit songs such as Le Jaana (Jjust Music and Warner Music India), Kaabil-e-Tareef (Sony Music India), and Kingpin (T Series). Her journey has been remarkable, with performances at major festivals like Zomaland, Horn Ok Please, and Sundowner. Her dynamic setlist for the evening is expected to feature songs like Stayin Alive, Ghungroo, and Bang Bang. As the tempo builds, guests can dance to high-energy tracks such as Tauba Tauba, Bijlee Bijlee, and Kala Chashma.
“We want Uptown to be the ultimate destination for special celebrations. With Lekka’s electrifying stage presence and soulful music, this Valentine’s Day will be a magical experience for our visitors,” said Mr Sunil Sharma, Managing Director, Uptown.
Beyond the music, Uptown will set the perfect romantic ambiance with:
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- Exclusive Valentine’s Day promotions
- Themed dining experiences at partner restaurants
- Stunning decor to enhance the romantic mood
Whether you’re celebrating with your partner, friends, or family, Uptown is the perfect place to soak in the spirit of love and togetherness.
Navrachana University Launches NUV Graduate School in July 2025
Vadodara, 15 February 2025: Navrachana University (NUV) in Vadodara has long been at the forefront of offering education that connects students with industry realities. With established programs like the M.Sc in Clinical Embryology, Navrachana University has earned a reputation for forward-thinking, relevant education. Building on this foundation, the university is excited to announce the launch of the NUV Graduate School in July 2025. This new initiative will offer cutting-edge master’s programs designed to meet the dynamic needs of modern industries, ensuring that students are equipped for both present and future success.
The NUV Graduate School will serve as a unified platform overseeing all existing and new postgraduate programs, offering a cohesive educational experience supported by state-of-the-art infrastructure. In addition to its current offerings, Navrachana University is introducing five new master’s programs: M.Sc in Computer Science (Co-op) program, M.Sc in Medicinal & Pharmaceutical Chemistry, M.Tech in Robotics and Automation, M.Sc in Food Science and Dietetics, and Master of Planning (Urban and Regional Planning). Planned and designed by experts in the respective disciplines with a focus on strong industry connections and international exposure, these courses will give aspirants the best of academic, research, internship, and industry experiences.
As industries evolve at breakneck speed, the demand for students equipped with real-world skills is greater than ever. Traditional postgraduate programs often fail to address the unique challenges posed by modern industries, leaving a gap between academia and the workforce. To bridge this divide, what’s needed is an education that connects students with the real world—offering hands-on experiences, industry insights, and opportunities to network with industry experts. This is what sets the stage for tomorrow’s leaders who can navigate and thrive in a rapidly shifting landscape.
Navrachana University’s Provost, Prof. Pratyush Shankar, an eminent academician, sought after worldwide for his research and exemplary innovative ideas states about the NUV Graduate School – “The launch of the NUV Graduate School represents a transformative milestone in our ongoing commitment to bridging the gap between academia and industry. In response to the rapidly evolving global landscape, we recognize that higher education must evolve as well. Our new postgraduate programs are designed to provide students with invaluable hands-on experience, global exposure, and strong industry connections, all while fostering an inclusive, creative, and flexible learning environment.”
These programs will bridge the gap between academic learning and industry needs, providing students with the skills and experience necessary to become leaders in their fields. Opportunities such as stipends, internships, and advanced study options will ensure a comprehensive educational experience. Mentorship programs will also guide students toward entrepreneurial ventures, preparing them for success across various sectors.
Navrachana University is dedicated to shaping the next generation of innovators. The industry-linked postgraduate programs provide the foundation for students to thrive in a fast-changing world. For more details on admissions, fellowships, and eligibility, visit the NUV website or explore the campus to meet the faculty and learn more.
Jaipuria Institute of Management Achieves AACSB Accreditation, Becoming Part of an Elite Global and Indian B-School Community
14th February 2025: Jaipuria Institute of Management, with campuses in Lucknow, Noida, Jaipur, and Indore, has achieved a rare distinction of receiving accreditation from AACSB International. This accomplishment places them among an elite group of less than 6 percent of business schools worldwide and amongst 1% of Business Schools in India.
Established in 1916, the Association to Advance Collegiate Schools of Business (AACSB) is the longest-serving global accrediting body for business education, dedicated to fostering excellence by connecting educators, students, and industry leaders to shape the next generation of business professionals.
AACSB accreditation is a rigorous process, requiring institutions to undergo a comprehensive peer review. This journey, spanning multiple years, demands that schools demonstrate their ability to deliver a forward-looking curriculum, high-impact research, innovative teaching methodologies, and demonstrated thought leadership and societal impact. Institutions must design and implement strategies to meet these stringent academic standards, making this achievement a true testament to Jaipurian’s dedication to quality.
Recognition of Excellence
“After years of dedicated effort from our leadership team, students, faculty, staff, and administrators across all four Jaipuria Institute of Management campuses (Lucknow, Noida, Jaipur, and Indore), we have earned a place among the world’s leading business schools,” said Sharad Jaipuria, the Chairman of the Jaipuria Group.
Highlighting the significance of this accomplishment, Shreevats Jaipuria, Vice Chairman of Jaipuria Institute of Management, emphasized its transformative impact on graduates. “AACSB accreditation enhances their career prospects, enabling them to secure more competitive salaries and opening doors to greater opportunities worldwide.” “This recognition not only validates the quality of education provided at Jaipuria but also underscores the enhanced value it brings to its graduates in the global marketplace”, he added.
Dr Prabhat Pankaj, Director of Jaipur campus who chaired the accreditation journey for Jaipuria felt highly upbeat. He said, “Achieving AACSB accreditation is a tremendous honour, signifying our commitment to excellence in business education. As chair of the Institute’s accreditation team, I am immensely proud of this significant milestone and look forward to greater global exposure for our students and faculty.”
Academic Offerings and Impact
Jaipuria Institute of Management serves a diverse student body of nearly 2,500 across its four campuses, offering postgraduate programs designed to equip students with industry-relevant skills through a blend of theoretical knowledge and practical application. These programs include the flagship Post Graduate Diploma in Management (PGDM) and the doctoral level Fellow Program in Management (FPM).
The PGDM program is delivered in a traditional, fully face-to-face format, while professionals seeking a more flexible learning experience can opt for the online PGDM program. Beyond the core curriculum, Jaipuria enriches the student experience through a variety of opportunities, including international immersion programs, applied research projects, industry collaborations, national and regional conferences, and student competitions. This holistic approach ensures graduates are well-rounded and prepared for success in a dynamic business environment. There is a great deal of emphasis on ‘beyond classroom learning’ through a dedicated mentorship programme, which helps students to create their Individual Development Plan (IDP) allowing them to set their own learning and career goals.
A Global Endorsement
Stephanie M. Bryant, AACSB Executive Vice President and Chief Accreditation Officer, extended her congratulations, stating:
“We congratulate Jaipuria Institute of Management (Lucknow, Noida, Jaipur, Indore) and Chairman Sharad Jaipuria on earning accreditation and commend the entire institution—including administration, faculty, staff, and students—for their collective efforts in achieving this distinguished honour. Jaipuria’s commitment to accreditation reflects its dedication not only to its students, alumni, and the business community but also to the advancement of higher education globally. Today’s students are tomorrow’s business leaders, and the inclusion of Jaipuria in the network of AACSB-accredited institutions will create a lasting impact both locally and internationally.”
Southern Cities Lead in Commercial Leasing, See 26% Rent Rise in 6 Years
New Delhi, February 14, 2025: The Indian office real estate market has seen a phenomenal rise in demand in the last few years with year 2024 recording the highest net absorption across the top 7 cities since 2019. Interestingly, the Southern cities have outshone other regions in overall office market activity including net absorption and new supply addition in the last six years.
In terms of office rentals too, the latest ANAROCK Research reveals that the South cities (Bengaluru, Chennai and Hyderabad) lead with up to 26% rise in average office rentals between 2019 and 2024.
- Bengaluru leads with a 26% rise in office rentals in the period – from Rs 74 per sq. ft. per month in 2019 to Rs 93 per sq. ft. per month in 2024, followed by Hyderabad with 25% growth – from Rs 56 per sq. ft. in 2019 to Rs 67 per sq. ft. in 2024 and Chennai with 20% rise – from Rs 60 per sq. ft. in 2019 to Rs 75 per sq. ft.
- In contrast, NCR in the North saw least average monthly rental growth of 10% in the period – from Rs 78 per sq. ft. per month in 2019 to Rs 86 per sq. ft. in 2024.
- Western cities including Pune saw 19% growth – from Rs 68 per sq. ft. to Rs 81 per sq. ft. in 2024 while MMR saw 13% growth – from Rs 124 per sq. ft. in 2019 to Rs 140 per sq. ft. in 2024.
| Average Office Rentals (Rs/Sq. ft./Month) | ||
| City | 2024 | 2019 |
| Bangalore | 93 | 74 |
| MMR | 140 | 124 |
| NCR | 86 | 78 |
| Chennai | 75 | 60 |
| Hyderabad | 67 | 56 |
| Pune | 81 | 68 |
| Kolkata | 62 | 52 |
| PAN India | 86 | 73 |
Meanwhile, despite the massive new supply addition of over 48.11 mn sq. ft. in 2024 across the top 7 cities, office vacancies dropped to 16.5% in 2024 as against 17.8% in 2023. However, in comparison to 2019 when vacancies in the top 7 cities stood the lowest at 13.50%, the office vacancies continue to be higher presently. Notably, among the top 7 cities, Chennai had the least office vacancy of 9.30% in 2024.
Mr. Peush Jain, MD-Commercial Leasing and Advisory, ANAROCK Group said: “The Southern siblings of Bengaluru, Hyderabad and Chennai has seen the lions’ share of space absorption. These cities have had an average growth of 25% in rentals over the last 6 years with 57% share in new supply; is due to its robust IT infrastructure ecosystem with availability of skilled workforce that has enabled corporations to invest in these cities.”
“Driven by strong demand primarily from the technology sector and flex spaces, most key markets would see sustained office space demand in next 6-8 quarters.”
“As India continues to be one of the fastest growing economies, global corporates will look to establish their GCCs for expansion. The start-up ecosystem has again gained momentum and they too will be major drivers of office demand alongside the BFSI sector”.
New Office supply & Net Absorption Dynamics
In the last six years (2019-2024) a total of nearly 283.21 mn sq. ft. of office space has been added across the top 7 cities with 2022 recording the highest new supply addition of 57.75 mn sq. ft. Overall, the South cities added nearly 172.96 mn sq. ft. of office space comprising a whopping 61% overall share. Western cities added over 60.31 mn sq. ft. space or 21% share. NCR added 17% share or approx. 47.39 mn sq. ft. new office supply.
If we deep-dive, in 2024, a total of 48.11 mn sq. ft. of new office supply has been added across the top 7 cities. Interestingly, of this total new office supply added, the Southern cities of Hyderabad, Bengaluru and Chennai comprised a whopping 57% share or approx. 27.65 mn sq. ft. This was followed by the Western cities of MMR and Pune with 30% share or approx. 14.5 mn sq. ft. North’s NCR comprised just 12% overall share or approx. 5.93 mn sq. ft. area.
Further, net office absorption across the top 7 cities in the six-year period stood at nearly 224.18 mn sq. ft. Of the net absorption in the last six years, South cities comprised 56% share or approx. 125.84 mn sq. ft., followed by West with 25% share or approx. 55.18 mn sq. ft.
The highest net absorption in the last six years was in 2024 – of approx. 49.95 mn sq. ft. Again, Southern cities comprised the highest 55% share or approx. 27.32 mn sq. ft., followed by the West cities with 24% share and NCR with 19% share while Kolkata with just 2% share.
Interestingly, sector-wise transaction data trends indicate the growing prominence of co-working sector in the last six years. Back in 2019 this sector comprised 15% share of gross leasing across the top 7 cities. The share of co-working jumped up to over 25% in 2023 but 2024 saw a slight decline to over 21% share.
Further, the BFSI sector too has seen rising demand in the period with its overall share increasing from 7% in 2019 to 17% in 2024. In contrast, the IT/ITeS sector share in gross absorption has come down to just 28% in 2024 from 42% in 2019.