New Delhi, 28^th Jan, 2025:  Square Yards, India’s largest integrated real estate platform, today announced its Q3’ FY25 results continuing its upward trajectory, marked by 45% year-on-year (Y-Y) revenue growth and a return to profitability with INR 22cr EBITDA (6% margin). Revenue for the quarter stood at Rs 358.6cr and Gross Transaction Value (GTV) stood at Rs 16,271 Cr, up 54% Y-o-Y. With this, company’s 9M revenue for FY24 now stands at Rs 938.4 Cr up 46% Y-Y.

Tanuj Shori, Founder & CEO of Square Yards, expressed his enthusiasm for the company’s progress: “This would mark our 2nd consecutive year of profitability, and first year of operating cash flow break even. We expect to close at USD 170mn+ revenue for FY that would put us at more than 3x the size of any other proptech platform in the country (and the only profitable platform). It would also entail a ~55% CAGR over the last 4 years. We also expect operating leverage to continue to increase, with next FY to be in the range of 15% EBITDA margins. 

Key Achievements in Q3FY25

Square Yards demonstrated impressive growth across all key metrics in Q3FY25. Gross Transaction Value (GTV) grew by 54% for the quarter and 52% for the first nine months of the fiscal year, driven by a healthy 44% year-on-year increase in the order book. Overall revenue for the 9M FY25 period surged 46% year-on-year, with revenue from the India business growing even faster at 50%. Gross profit for Q3 reached INR 90 crore, representing a 25% gross margin, while EBITDA stood at INR 22 crore, reflecting a 6% margin. Financial services led the company’s growth with a 58% year-on-year jump, supported by fintech platform Urban Money, which is expected to close the year with USD 5.5 billion in GTV. Real estate recorded a 41% year-on-year rise in the order book, and the home renovations platform maintained its upward momentum with over 50% year-on-year growth. With strong fundamentals and diversified growth across its core verticals, the company is well-positioned to maintain its leadership in the proptech industry.

28th January 2025: As India eagerly anticipates the Union Budget 2025, industry leaders across the food and beverage, startup, beauty, and sustainable luxury sectors share their expectations and key recommendations for policy reforms that could drive growth and innovation. Addressing sector-specific challenges and introducing progressive measures will be pivotal in shaping a resilient and forward-looking business environment.

By – Mr. Ganesh Sonawane, Founder and CEO of Frido

 “India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflects its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the World initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”

By – Aji Nair, CEO at Mirah Hospitality

“As we approach the Union Budget 2025, the F&B sector looks forward to measures that address key challenges such as rising food inflation, operational costs, and the intricate tax structures on alcohol and aerated beverages that impact profitability. A progressive framework that fosters innovation, simplifies policies and enables sustainable growth will be pivotal for the industry’s success.

The restaurant sector specifically urges the restoration of the GST Input Tax Credit, which would significantly ease operational expenses and enhance efficiency.
Additionally, revisiting the GST notification on commercial leases under the Reverse Charge Mechanism is essential to reduce financial burdens. With these steps, the sector can focus on innovation, customer experiences, and long-term growth.”

By – Shrishti Yadav and Shubham Godara, Co-founders at SCINQ Neurocosmetics

 “We are optimistic that the 2025 Union Budget will address critical areas like streamlining the GST framework to reduce complexities, particularly for the beauty and skincare industry, where multiple tax slabs create challenges. A more uniform and industry-friendly tax structure would ease operations and lower costs, benefiting both businesses and consumers. Support for the retail and e-commerce sectors through industry-friendly policies would further encourage growth and innovation, creating a more dynamic marketplace. These steps can help Indian beauty and skincare space to reach a broader audience and contribute to the overall growth of the economy.”

By – Ricky Vasandani, Co-founder and CEO of Solitario

 “As India increasingly embraces sustainable luxury, this year’s Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism.”

New Delhi: In a bid to strengthen industry-academia partnership and promote entrepreneurship and hands-on skilling, the Directorate General of Training (DGT) inked an MoU with the Pilani Innovation & Entrepreneurship Development Society, BITS Pilani, for conducting innovation and incubation programs for NSTI students and make them future-ready. This collaboration is expected to create opportunities for start-ups.

“The collaboration between DGT and PIEDS (Pilani Innovation & Entrepreneurship Development Society) is a transformative step in bridging the gap between education and industry. We aim to combine the academic excellence of BITS Pilani with the robust training and skilling ecosystem of DGT. The aim is to equip youths with practical skills, fostering entrepreneurship and creating a future-ready workforce for the job market,” said Ms. Trishaljit Sethi, Director General Training, Ministry of Skill Development and Entrepreneurship.

The partnership has two major components: The Innovation Challenge and The Open Incubation Program. They nurture the entrepreneurial mindset and help spot talent and sweep up creative thoughts to be successful startups. The Innovation Challenge encourages NSTI trainees and alumni, featuring an Open Track for all participants and a Women NSTI Track that helps women pursue entrepreneurship and fill the gender gap in innovation. The Open Incubation Program is a 6-month grant-based initiative that covers ideation, incubation, mentorship, workshops, and funding to help participants scale their ideas. Projects supported by PIEDS are reviewed at the institute level, zonal level, and DGT level to identify innovations with high potential for recognition and rewards.

“The new trend underscores the value of hands-on training and job-oriented skills given by ITIs and NSTIs, which are known for skilling, practical training, and experienced faculty,” the DGT training said, amid the government setting out Rs. 60,000 crores for five years for overhauling hundreds of ITIs across the country in the last budgetary allocation.

The event observed that engineering students are keen to upskill themselves by joining skill-oriented programs, which indicates demand for job-ready, future-ready skills in the current job market. The partnership between DGT and PIED, BITS aims to integrate industry-relevant skilling into the curriculum and encourage stronger collaboration with industry for on-the-job training and apprenticeship, including dual training systems.

The partnership is set to address a unique phenomenon in India’s education and skill training landscape as the skill ecosystem is set to be overhauled, courtesy of multiple initiatives of the government with the support of the industry. The meet observed a phenomenon of reverse pathway where engineering students, postgraduates, and even diploma holders are enrolling in skilling programs like the Crafts Instructor Training Scheme (CITS) offered by various National Skill Training Institutes.

Prof. Arya Kumar, Dean of Alumni Relations, BITS Pilani, said, “The collaboration between PIEDS and BITS Pilani for promoting competencies and capabilities amongst skilled youth, especially women, will go a long way in giving momentum to the creation of startups, employment, and wealth creation for the nation.”

Head Alumni & PIEDS Society Sachin Arya also played a crucial role in setting up these entrepreneurial pathways for NSTI and ITI students for creation of a supporting excelling ecosystem. The DGT expects leveraging the industry connection and historic reputation of BITs Pilani to further spread awareness about ITIs and NSTIs among the student community and industry stakeholders. The tie-up will also create opportunities for start-ups and entrepreneurial ventures in order to enrich the skilling ecosystem of India.

The initiative aims to align skill training with industry needs by facilitating internships and apprenticeship programs to boost employability. The central government has been taking a slew of steps to make skilling a mass movement, and the recent inaugural QS World Future Skills Index report is a testament to the efforts of the government, which said that India is one of the world’s most-ready job markets to recruit talent skilled in the key areas, such as that of AI, digital, and green technologies.

Taking the number of international airports in India to 36, two new international airports are set to become operational in 2025. At present, the country has 103 domestic airports and the Union Government has granted an in-principle nod for establishing 21 Greenfield Airports across India. These include facilities at Mopa in Goa, Navi Mumbai, Shirdi, and Sindhudurg in Maharashtra, Kalaburagi, Vijayapura, Hassan, and Shivamogga in Karnataka, Dabra (Gwalior) in Madhya Pradesh, Kushinagar as well as Dholera and Rajkot in Gujarat. Expanding air travel infrastructure to Tier-II and Tier-III cities will not only improve accessibility but also encourage new air carriers to enter the market, intensifying competition and making air travel more affordable.

“We observed that almost a decade ago, India’s economic activity was largely concentrated in a few metropolitan cities. These major cities were the primary contributors to the country’s GDP, with trade and economic activities predominantly centred there. However, this trend has shifted. Growing disposable income among the middle class, rapid adoption of technology, and widespread internet penetration have had a transformative effect on the lives of people in Tier-II and Tier-III cities. As the gap between these cities and metros continues to narrow, focusing on developing airport infrastructure in smaller cities, along with the ongoing emphasis on major urban centres, is the need of the hour,” says Jaideep Mirchandani, group chairman of Sky One.

As per the draft prepared by the Airports Authority of India (AAI), the total number of airports in the country is set to nearly double to 300 by 2047, up from the current 140. This plan involves not only the construction of new airports but also the upgrade of 70 existing airstrips into fully operational airports. Among the greenfield airports planned, 12 have already been operationalized, including Durgapur, Shirdi, Sindhudurg, Pakyong, Kannur, Kalaburagi, Oravakal (Kurnool), Kushinagar, Itanagar, Mopa, Shivamogga and Rajkot.

“The benefits of new airports in Tier-II cities will significantly boost tourism and the economy. They will also help travellers explore their favourite destinations with less travel time, aligning with busy schedules. For example, consider the new Pakyong Airport in Sikkim, located just 31 km from Gangtok. Previously, travellers had to fly to Bagdogra in West Bengal and then continue by road. This new airport greatly enhances both tourism and trade in the region,” adds Mr Mirchandani and concludes, “Most importantly, the expansion of airports in Tier-II and Tier-III cities will reduce stress and congestion at major airports.

New Delhi, January 28th, 2025— The annual Luxury Residential Outlook Survey 2025 conducted by India Sotheby’s International Realty (ISIR) revealed that confidence in India’s economic growth remains strong, albeit slightly tempered. Optimism has declined from 79% in 2024 to 71% in 2025. Nevertheless, most High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs) believe India will continue to be the fastest-growing major economy, with GDP growth projected to hover between 6% and 6.5%.

In the real estate sector, the outlook among UHNIs and HNIs has moderated, with 62% planning to invest in the next 12–24 months compared to 71% in 2024. Despite this slight dip, the steady confidence underscores real estate’s enduring appeal as a wealth-building asset.

HNIs and UHNIs remain primarily motivated by capital appreciation, with 55% citing it as their main reason for investing in luxury residential real estate in 2025, up from 44% in 2024. Nearly half of respondents expect real estate investments to deliver returns between 12% and 18%, while 38% anticipate returns below 12%. Fewer than 15% foresee returns exceeding 18%, reflecting more realistic expectations after three years of strong gains.

Mr. Amit Goyal, MD of India Sotheby’s International Realty, said “As we look ahead to 2025, India’s luxury real estate market is primed for continued growth, though with a more cautious optimism. We believe demand for trophy and bespoke luxury assets, especially spacious farmhouses and gated community villas in hill and beach destinations will be a significant trend in the coming year. Our conviction is driven by the fact that India stands out as a frontrunner, with billionaires here experiencing a staggering 42% surge in collective wealth, now exceeding $905 billion, according to the UBS “Billionaire Ambitions Report.” Over the past decade, India’s billionaire count has more than doubled to 185, with their total wealth tripling. This solidifies India’s position as the third-largest base for billionaires globally, just behind the US and China.”

The survey also highlighted a rising interest in second and holiday homes, with 54% of respondents considering properties in hill or beach destinations. Convenience is a key factor, as 55% prefer homes within a four-hour drive, while only 20% opt for international locations. Among global markets, Dubai has overtaken London as the top choice, with US cities also gaining attention.

While financial assets like equities and commodities remain the most favored, with 54% of respondents prioritizing them, real estate continues to attract 36% of HNIs planning to allocate surplus funds over the next two years. This underscores the value of real estate as a stable, tangible asset amidst market volatility.

With interest rates expected to ease moderately, 71% of respondents anticipate gradual reductions, although 23% remain cautious, citing inflation concerns. As India’s luxury real estate market evolves to meet the needs of affluent individuals and young wealth creators, the property landscape is evolving to offer a dynamic mix of lifestyle upgrades and wealth-generation opportunities.

Mr Ashwin Chadha, CEO of India Sotheby’s International Realty, said: ” The evolution of luxury real estate in India over the past decade has been remarkable. A segment once dominated by self-built bungalows has now added high-rise luxury apartments and gated community villas by renowned developers offering world-class amenities and assured quality to the demand bouquet of the rich and famous. Today, luxury real estate is more than a status symbol; it’s a robust investment avenue.”

The number of Ultra-High-Net-Worth Individuals in India has reached 13,600 in 2024, with projections of a 50% increase by 2028. This rising affluence, coupled with the segment’s resilience as an inflation hedge and its ability to deliver long-term capital appreciation, makes luxury real estate a preferred choice for lifestyle upgrades and wealth creation. Add to this the growing influence of young wealth creators under 40, and it’s clear that luxury real estate is not just growing—it’s defining India’s property landscape.”

The activity was aimed at fostering creativity, boosting imagination, and motivating fun learning

The students of The Academy School (TAS), Pune, participated in a special event conducted to celebrate and understand art through the world of cartoons and animations. The ‘Animated Adventure’ activity was organised to boost students’ imagination, foster creativity, and motivate fun learning.

Students were excited to dress up as their favourite animated characters’ T-shirts, adding a colourful and playful vibe to the activity. Additionally, students witnessed a live skit inspired by the famous cartoon series Tom and Jerry and other cartoons. Students came dressed as their favourite cartoon characters and brought their roles to life by performing scenes from popular stories. They were engrossed in the performances, which opened up a new world of possibilities through art and entertainment.

Dr. Maithili Tambe, CEO of The Academy School (TAS), who spearheaded the initiative, said students learn best when they have fun. While learning never stops, students should not feel pressured to attain knowledge. Education can also be imparted in a fun manner. What better way to teach them art and animation than their favourite cartoons, which they can relate to and connect with?”

The activity also saw students display their creativity by painting and drawing their favourite animated characters, thereby allowing them to express themselves and polish their preferences through art.

I am reaching out to introduce Urban Space, a home furnishing brand revolutionising the decor industry with high-quality, and innovative designs. As the Union Budget 2025 approaches, we would like to share a quote from Rohit Agarwal, Co-Founder of Urban Space, for Republic Day story:

“This Republic Day, let us celebrate the warmth and comfort that make a house truly a home. Just as India is built on the foundations of diversity and unity, our homes are a reflection of who we are—deeply rooted in tradition yet embracing modernity.

As we envision a self-reliant India, it’s time to champion homegrown brands that bring our culture to life through thoughtful design and innovation. By supporting local craftsmanship and creativity, we not only build beautiful homes but also strengthen the foundation of our nation’s growth.

Panjim, 28th January, 2025: Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi, whose Start-Up India vision has inspired countless entrepreneurial journeys across the nation, and with the steadfast commitment of Chief Minister Dr. Pramod Sawant to foster innovation and self-reliance in Goa, the state continues to champion entrepreneurship.

With the support of the Government of Goa, the Entrepreneurship Development Institute of India (EDII), Goa Centre, is organizing a transformative three-day Entrepreneurship Development Program from 28th – 30th January 2025, at Nalanda Hall, EDC House, Panaji. This initiative is a part of Economic Development Corporation (EDC) Corporate Social Responsibility (CSR) activities, designed to nurture entrepreneurial talent and accelerate economic growth across the state. This initiative, aligned with the Chief Minister’s Rojgar Yojana (CMRY) and the Goa Tribal Employment Generation Program (GTEGP), is subsidized under EDC Goa’s CSR initiative to promote entrepreneurship across the state.

The comprehensive program is designed to equip entrepreneurs with the essential knowledge and skills to succeed in today’s competitive business landscape. The curriculum covers a range of critical topics, including the essence of entrepreneurship, where participants will learn about the characteristics of successful entrepreneurs, identifying business opportunities, and crafting a robust business plan. Additionally, the program will delve into marketing strategies, including branding, social media marketing, e-commerce, customer relationship management, sales strategies, and business pitching. Furthermore, participants will gain insights into financial and legal management, covering the fundamentals of financial management, business accounting, legal structures, operational efficiency, scaling, and diversification, providing a holistic understanding of what it takes to build and sustain a thriving business.

The subsidization of program fees under the EDC Goa CSR initiative ensures that the workshop is accessible to a wide range of participants, fostering inclusivity and economic empowerment. This initiative seeks to further bolster innovation, create job opportunities, and drive Goa’s journey toward becoming a hub for startups and self-reliant businesses.

Kolkata, 28th January 2025: The Centre for Development of Advanced Computing (C-DAC), Kolkata, announced the launch of the “Finishing School Program on 3D Printing & Additive Manufacturing Technology” on Monday, 27th January 2025 at The Sonnet, Kolkata. The program is designed to empower engineering students from West Bengal and Bihar with advanced skills in additive manufacturing, fostering entrepreneurship and employment generation. It marks a significant step towards bridging the gap between academic knowledge and industry requirements while creating sustainable employment and entrepreneurship opportunities for the youth of West Bengal and Bihar.

The event was graced by prominent dignitaries, including Smt. Tulika Pandey, Scientist ‘G’ and Group Coordinator, HRD, Ministry of Electronics and Information Technology, Government of India; Prof. Tapas Chakraborty, Vice-Chancellor, MAKAUT, Government of West Bengal; Prof. P. M. Pandey, IHFC Chair and Professor at IIT Delhi; Prof. Amitava Nag, Department of Computer Science and Engineering, Central Institute of Technology, Assam; Shri Sanjeet Kumar, Industry Expert and DGM at SANDHAR; Dr. Ch A S Murty, Scientist ‘G’, CISO & Director, C-DAC Kolkata; and Shri Asit Kumar Singh, Chief Investigator of the Project, C-DAC Kolkata.

The program aims to train 16,000 engineering graduates and final-year students through full-time courses with an additional 4,000 students participating in boot camp programs. It also focuses on establishing eight advanced laboratories to support start-ups, SMEs and large industries while delivering comprehensive product prototypes with technical documentation, material specifications and cost analysis.

With India’s 3D printing market projected for a staggering growth, this initiative addresses the increasing demand for skilled professionals in sectors such as construction, automotive and healthcare. By integrating technical skill development with entrepreneurship opportunities, the program aims to prepare students for the shift towards mass customization and faster production cycles demanded by modern industries.

The program also emphasises the creation of multimedia-based educational resources, a design repository on 3D printing and additive manufacturing and a centralised project monitoring web portal to ensure seamless implementation. Workshops with industry stakeholders, NABARD, industrial banks, placement cells and corporate entities will further enhance job placement and entrepreneurial support.

C-DAC Kolkata is collaborating with institutions including MAKAUT, Nadia; Dr. B.C. Ray Engineering College, Durgapur; NIT Patna, College of Engineering & Management, Kolaghat; Siliguri Institute of Technology; Darbhanga College of Engineering, Darbhanga; Bhagalpur College of Engineering, Bhagalpur; and Cooch Behar Government Engineering College, to provide sector-specific training and support for engineering students. The initiative also promotes cultural and heritage preservation by enabling the production and marketing of heritage-inspired products using 3D printing and additive manufacturing technologies.

While delivering the welcome address, Dr. Ch A S Murty, Scientist ‘G’, CISO & Director, C-DAC Kolkata, said, “This initiative is a crucial step in bridging the gap between academia and industry, empowering the next generation of engineers with skills that will shape the future of technology. I’d like to extend a special thanks to Mrs. Tulika Pandey from the Ministry of Electronics and Information Technology, Government of India, for her unwavering support in making this initiative possible. We aim to train 16,000 engineering graduates from West Bengal and Bihar over the next five years, with an additional 4,000 students through boot camps. State-of-the-art laboratories will be established at partner institutions to support training, innovation and entrepreneurship. These labs will serve as hubs for students, startups, SMEs and industries to develop product prototypes and gain hands-on experience. The program will also include modules on entrepreneurship, job creation and workshops with industry stakeholders. We will work closely with corporate entities to ensure job placement opportunities for students. Moreover, we will create multimedia-based educational content to support the program across all eight labs, ensuring seamless training delivery and monitoring. India’s 3D printing market is projected to reach $2.76 billion by 2026, driven by industries like construction, automation and healthcare. This program prepares students to meet the emerging demands of these sectors.”

Alluding to Additive Manufacturing in India’s Industrial and Educational Framework, Smt. Tulika Pandey, Scientist ‘G’ and Group Coordinator, HRD, Ministry of Electronics and Information Technology, Government of India, said, “As the world transitions to Industry 4.0, we must ensure that India builds a skilled workforce proficient in 3D printing and additive manufacturing technologies. To make this accessible and cost-effective, the government has allocated ₹50 crores for initiatives focused on Eastern India, including Kolkata and Bihar. Our aim is to integrate 3D printing into academia, allowing students to experiment, innovate, and collaborate with industries to bridge the gap between research and product development. We urge industries to partner with academia to provide students exposure to real-world business challenges. This initiative will act as a finishing school, equipping students with skills that lead to immediate employability. Globally, the additive manufacturing market is set to grow exponentially, and India must move swiftly to lead this space. Beyond designs, we must study materials, explore cost-efficient innovations, and address challenges like providing affordable housing and tools for rural India. Industry collaboration is key to realizing the transformative potential of this technology. 3D printing has evolved from niche applications to disruptive capabilities across healthcare, agriculture, and industrial domains. As we face competition from home-grown innovations, this is the time for industries, academia and the government to work together to ensure India leads the additive manufacturing revolution.”

Prof. Tapas Chakraborty, Vice-Chancellor, MAKAUT, Government of West Bengal, said, “As the only Technical University in West Bengal, affiliating nearly 200 engineering, pharmacy and management colleges, MAKAUT plays a vital role in the region. However, we face challenges such as declining enrollment in core engineering fields like mechanical engineering and a lack of suitable industry internships for final-year students in this region, driving many students to seek opportunities elsewhere. This initiative offers a transformative solution, not just for West Bengal but for the entire Northeast and neighbouring regions. MAKAUT is committed to providing full support to ensure its success.”

Prof. P. M. Pandey, IHFC Chair and Professor at IIT Delhi, said, “Additive manufacturing has emerged as one of the most disruptive technologies in the current manufacturing landscape. In the context of the latest manufacturing advancements—Industry 4.0 and even Industry 5.0—this technology plays a pivotal role. Industry 4.0, centered around cyber-physical systems, envisions a digital manufacturing enterprise. In this framework, additive manufacturing, commonly known as 3D printing, is a ground-breaking tool. Its potential lies in its ability to produce highly customized components, especially for small batch sizes or unique, customer-specific and even patient-specific requirements. This transformative technology fits seamlessly into the Industry 4.0 ecosystem, where it integrates with digital design concepts, big data analytics, artificial intelligence, machine learning, collaborative robotics, industrial IoT and virtual and augmented reality. It is rightly regarded as one of the most important enablers of the next-generation manufacturing revolution. I must also highlight that this initiative, sponsored by MeitY and executed by CDAC Kolkata, comes at an opportune moment. Under the visionary leadership of our Hon’ble Prime Minister, Shri Narendra Modi Ji, the ‘Make in India’ mission and the New Education Policy have placed significant emphasis on skilling and innovation. This program aligns perfectly with these goals, empowering the youth with knowledge and expertise in the digital design and manufacturing domain. I firmly believe this initiative will not only help our industries but will also contribute to society by bridging the gap between modern technology and practical implementation.”

Shri Asit Kumar Singh, the Chief Investigator of this Project, C-DAC, Kolkata, further elaborated “During this program, the development of products will be carried out in consultation with industry stakeholders to ensure their practical applicability and market relevance. This collaborative approach aims to bridge the gap between academic knowledge and industry needs, fostering innovation and enabling the creation of solutions that address real-world challenges effectively.”