30, Apr 2024
Birla Carbon to participate at American Coatings Show 2024
Marietta, USA / Mumbai, India -30th April 2024: Birla Carbon, one of the leading manufacturers and suppliers of high-quality carbon-based solutions, will participate in the American Coatings Show 2024 from April 30th to May 2nd at the Indiana Convention Center, Indianapolis, United States. Birla Carbon will exhibit at booth number 1648.
Speaking about the participation, John Davidson, Chief Sales & Marketing Officer, Birla Carbon, said, “We are excited to join the American Coatings Show 2024 and showcase our range of sustainable carbon-based solutions for the paints and coatings industry. The event will serve to highlight Birla Carbon’s extensive selection of Raven, Conductex, Nanocyl, and Continua ™ SCM products, which together make us the go-to source for sustainable carbon-based solutions for coatings applications. At Birla Carbon, our goal is to achieve net zero carbon emissions by 2050, which allows us to lessen our environmental impact, partner with our customer’s sustainability journey, and at the same time maintain the same level of quality in our products.”
This year, Birla Carbon solutions to be displayed at the event include:
- · Continua™ 8510P SCM and 8000 SCM: A scalable and sustainable solution designed to enhance product sustainability and circularity.
- · Raven 3500, 5000 Ultra II, and 5100 Ultra series highlight its excellence in high-color blacks, offering superior dispersion and color performance in various engineering plastics applications, offering a comprehensive range of high-performance carbon blacks for plastics.
- · Nanocyl brand of Multiwall Carbon Nanotubes (MWCNT) through NC7000™ for high electrical conductivity in all polymers and PLASTICYL™ high conductive thermoplastic MWCNTs.
- · The Conductex e range of solutions is a key performance-enhancing carbon black additive that gives high conductivity and purity while enabling manufacturers the formulation flexibility required for a variety of lead acid battery applications.
The American Coatings Show 2024 will help showcase Birla Carbon’s performance-grade carbon black solutions while promoting sustainability and circularity at scale. It will also bring together experts and professionals from the coatings and paint industry to discuss the latest trends, technologies, and innovations in the industry.
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- By Rabindra
30, Apr 2024
NAREDCO Maharashtra’s Knowledge session – ‘All about Policy’ illuminates Mumbai real estate policy updates
Mumbai, 30th April 2024: The National Real Estate Development Council (NAREDCO) Maharashtra in association with Practicing Engineers, Architects and Town Planners Association (PEATA) hosted a pivotal Knowledge Session ‘All About Policy’ which brought together distinguished experts from the real estate sector to discuss critical policy implications and their impacts on the Mumbai real estate market.
Mr. Prashant Sharma, President of NAREDCO Maharashtra, inaugurated the session with a warm welcome to all attendees, emphasizing the significance of such knowledge exchanges in understanding the intricacies of real estate regulations. “These sessions are crucial for all stakeholders to gain clarity on the rules governing our sector,” Sharma stated.
Mr. Manoj Dubal, President of PEATA, opened the discussions with a detailed examination of Sections 33(11), 33(20)B, and a comparative analysis of regulation 33. His insights covered essential topics such as permissible Floor Space Index (FSI) on plot developments, transit camp tenements for Slum Rehabilitation Authority (SRA), clubbing of schemes in case of unconsumed sale component of additional FSI, development of affordable housing, rehabilitation & resettlement on private plot or plot of authority other than government authority.
The highlight of the event was a panel discussion titled “Navigating the Future: Policy Priorities for the Real Estate Sector,” featuring industry stalwarts like Mr. Niranjan Hiranandani, Mr. Rajan Bandelkar, Mr. Kamlesh Thakur, Mr. Manoj Dubal and Mr. Manoj Daisaria, with moderation by Aarti Harbhajanka.
Panelists debated the need for government support in light of substantial profits earned from the realty sector. Dr. Niranjan Hiranandani, Chairman Emeritus, NAREDCO Maharashtra said “The real estate sector is the most taxed industry, and unless we ask the government to fulfill our industry demands; they will not be met. The government is earning substantial profits from the realty sector and therefore we expect them to support us as well. There was a time when people said that the now defunct Urban Land Ceiling (ULC) would never get scrapped, but it did get scrapped after we followed up for its removal.”
“There is a huge parcel of vacant land in Mumbai which is unutilized. We need to awaken the government and tell them that if you want affordable housing then open these land parcels and reduce the cost of development to fulfill the government’s obligation to provide affordable housing to all,” added Mr. Hiranandani.
Mr. Rajan Bandelkar, Vice Chairman, NAREDCO stressed on the need for the industry to stay within its limits. “In the past we have seen a section of the industry going far beyond and have not delivered on its promises to customers. This is the reason why the government has brought in the Real Estate Regulatory Authority (RERA) bill, in its bid to control the sector, bring more transparency and safeguard home buyer interest. It’s imperative that our industry adheres to its commitments to ensure trust and sustained growth.”
“The successful implementation of the Pradhan Mantri Awas Yojana (PMAY-U) has helped the needy and poorer sections of society; we would request the government to undertake in the same way similar schemes for other sections of society as well,” Bandelkar added.
Conversations also touched upon the need for innovative urban planning. Mr. Kamlesh Thakur, Vice President, NAREDCO Maharashtra opined that we need to create smart cities as there will be a reverse migration of Indians from abroad; will our cities survive till then is the question we need to ask ourselves. In addition, the government should encourage greenfield developments instead of brownfield developments, which we are presently doing.
Architects Karan Daisaria & Devansh Daisaria, Design Principal, Daisaria Associates gave an insightful presentation on the elevation features of new developments. They spoke on the challenges faced by architects in the planning and designing of buildings given the strict norms and guidelines laid down by the competent authorities. Having studied and worked abroad with international brands, they have tried to merge these features into the Indian construction framework.
The session concluded with a collective affirmation on the necessity of regular policy discussions to foster a more transparent and robust real estate market in Mumbai.
30, Apr 2024
Internet of Behaviors (IoB) Driving Digital Transformation through Behavioral Data Analysis
In today’s interconnected world, data has become the cornerstone of digital transformation across industries. Among the myriad forms of data, behavioral data stands out as a powerful catalyst for understanding consumer preferences, habits, and decision-making patterns. The amalgamation of this data with emerging technologies has given rise to the Internet of Behaviors (IoB), a concept that is reshaping the landscape of digital transformation.
The Internet of Behaviors (IoB) is an evolving paradigm that leverages the collection, analysis, and interpretation of data related to human behaviors. It encompasses a wide array of sources, including social media interactions, online browsing habits, purchase history, location tracking, and even biometric data from wearable devices. By harnessing this wealth of behavioral data, organizations gain invaluable insights into consumer preferences, sentiment, and engagement levels.
Market Overview: Internet of Behaviors (IOB) Market
The Internet of Behaviors (IoB) refers to the collection, analysis, and application of data-driven insights to influence or understand human behavior. It extends beyond the Internet of Things (IoT), focusing on behavioral data derived from various sources, such as social media, mobile devices, sensors, and other connected platforms. According to Persistence Market Research’s projections, the global Internet of Behaviors market is expected to experience significant growth, with a projected CAGR of 22% from 2021 to 2031. This rapid expansion is fueled by the convergence of big data analytics, artificial intelligence, and IoT, providing organizations with insights to drive customer engagement, improve operations, and tailor personalized experiences.
Driving Factors behind IoB Adoption:
Several factors contribute to the growing adoption of IoB across various sectors:
Technological Advancements: The proliferation of advanced analytics tools, artificial intelligence (AI), machine learning (ML), and big data platforms has empowered organizations to extract actionable insights from vast volumes of behavioral data in real time.
Consumer-Centric Approach: In today’s hyper-competitive marketplace, understanding and catering to consumer preferences is paramount. IoB enables organizations to personalize their products, services, and marketing strategies based on individual behaviors and preferences, thereby enhancing customer satisfaction and loyalty.
Regulatory Environment: With the implementation of data privacy regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), organizations are compelled to adopt transparent and ethical practices in data collection and usage. IoB facilitates compliance with these regulations by providing mechanisms for obtaining informed consent and ensuring data protection.
Pandemic-Driven Digitalization: The COVID-19 pandemic accelerated the digital transformation journey for many businesses, leading to an increased reliance on digital channels for communication, commerce, and entertainment. IoB enables organizations to adapt to shifting consumer behaviors and preferences in the post-pandemic landscape.
Applications of IoB in Digital Transformation:
The IoB has far-reaching implications across various domains, including but not limited to:
Marketing and Advertising: By analyzing consumer behavior across online and offline touchpoints, marketers can tailor advertising campaigns to target specific demographics with personalized content, thereby improving conversion rates and ROI.
Healthcare and Wellness: IoB facilitates remote patient monitoring, personalized healthcare interventions, and early detection of health risks by analyzing biometric data from wearable devices and IoT sensors.
Retail and E-Commerce: Retailers leverage IoB to optimize product placements, enhance the shopping experience, and offer personalized recommendations based on past purchase history and browsing behavior.
Financial Services: Banks and financial institutions use IoB to detect fraudulent activities, assess creditworthiness, and personalize financial products based on an individual’s spending habits and financial behavior.
Smart Cities and Urban Planning: IoB enables city planners to optimize traffic flow, enhance public safety, and improve infrastructure based on real-time data insights derived from sensors, cameras, and IoT devices deployed across urban environments.
Challenges and Ethical Considerations:
While IoB offers tremendous potential for driving digital transformation, it also presents several challenges and ethical considerations:
Privacy Concerns: The collection and analysis of sensitive behavioral data raise privacy concerns regarding consent, transparency, and data security. Organizations must adopt robust privacy policies and compliance measures to safeguard consumer rights and mitigate the risk of data breaches.
Data Bias and Discrimination: Biases inherent in data collection and analysis algorithms may lead to discriminatory outcomes, perpetuating inequalities and exacerbating social injustices. Organizations must strive for fairness, accountability, and transparency in their IoB initiatives to avoid unintended consequences.
Regulatory Compliance: Compliance with data protection regulations such as GDPR, CCPA, and emerging frameworks like the proposed Data Protection Bill in India poses compliance challenges for organizations engaged in IoB initiatives. Failure to adhere to regulatory requirements can result in severe penalties and reputational damage.
Data Quality and Accuracy: The accuracy and reliability of behavioral data depend on various factors such as data sources, collection methods, and analytical techniques. Organizations must invest in data governance frameworks and quality assurance processes to ensure the integrity of IoB insights.
The Internet of Behaviors (IOB) represents a paradigm shift in the way organizations harness and leverage behavioral data to drive digital transformation. By analyzing consumer behaviors across various touchpoints, IoB enables organizations to personalize products, services, and experiences, thereby enhancing customer satisfaction, loyalty, and business outcomes. However, the widespread adoption of IoB also raises significant challenges and ethical considerations related to privacy, bias, and regulatory compliance. Moving forward, organizations must strike a balance between innovation and responsibility to realize the full potential of IoB while upholding ethical standards and protecting consumer rights.
30, Apr 2024
Transforming Broken Tiles into Trendsetting Style,Somany Ceramics collaborates with K.R. Mangalam University on World Design Day
Gurugram, 30th April 2024 SOMANY Ceramics Ltd., a leading name in the ceramic industry, collaborated with K R Mangalam University on World Design Day, April 27th, 2024 on a project titled “Transforming Broken Tiles into Trendsetting Style,” this innovative initiative is aimed at promoting recycling of waste tiles into pieces of art and captivating murals, fostering a culture of sustainability while addressing waste reduction. Over 20 talented architecture students showcased their art and technical expertise in repurposing discarded tiles into breathtaking works of art, serving as a testament to their commitment to sustainability and innovation.
Anshuman Chakravarty, Head of Marketing at Somany Ceramics, expressed his enthusiasm for the collaboration, “We are happy that future architects of India are having a passion for recycling and sustainability. We in Somany Ceramics have always been a pioneer in promoting sustainability in our products, infact our entire production of tile adhesive is done through waste tiles. We as citizens also need to sensitize our communities on reducing construction waste and debris and look for recycling and reuse. We are thankful to the K. R. Mangalam University management and students for partnering with us for this initiative and promoting the thought of artistic reuse of waste tile and supporting environment sustainability”
We are collaborating with Somany Ceramics Ltd. on an art installation project to celebrate World Design Day. This collaboration provided students with a unique opportunity to apply their design skills in a real-world context. Through these tile art projects, students gained hands-on experience in sustainable design practices while making a positive impact on the environment said Dr. Tanaya Verma, Dean of the School of Architecture and Design at K.R. Mangalam University.
The SOMANY Ceramics and K R Mangalam University collaboration was a resounding ode to the power of partnerships in driving positive change. By utilizing the creativity and innovation of students, the initiative aimed to raise awareness about the importance of recycling and inspire future generations to become responsible stewards of the environment.
29, Apr 2024
Chingari forays into Web3 gaming with the launch of Chingari Game Zone
Bengaluru, April 29, 2024 – Chingari, the world’s leading web3 live-streaming app, today announced its foray into the web3 gaming space titled Chinagri Game Zone. The move marks a significant milestone for the Aptos-backed tech company as it expands its offerings beyond live-streaming and into the burgeoning world of blockchain-based gaming. Built on the Aptos blockchain, Chingari Game Zone will leverage its expertise in social media, entertainment, and blockchain tech to create engaging and interactive gaming experiences for users.
The initial launch of Chingari Game Zone will include a curated selection of popular and engaging mobile games, Ludo, a voice communication-based web3 game. Ludo on Chingari Game Zone offers a unique experience to its users who can converse through voice communication with their competitors while playing the game. Users will be rewarded with Gari tokens for using the Chingari Game Zone. Further, Chingari plans to launch more games by the next quarter, expanding its web3 gaming portfolio to cater to diverse tastes and preferences.
Sumit Ghosh, CEO and Co-Founder, Chingari said, “Our goal is to create a seamless and engaging gaming experience that utilizes the benefits of blockchain technology. We believe that Web3 has the potential to revolutionize the gaming industry and provide a new level of excitement and competition for gamers worldwide. Moreover, our expertise in social media and entertainment and experience in blockchain technology positions us well to make a significant impact in the gaming industry through Chingari Game Zone.”
Chingari’s foray into web3 gaming marks a significant expansion of its offerings beyond social media and entertainment. The company has made significant investments in blockchain technology and has assembled a team of experts with extensive experience in blockchain development.
29, Apr 2024
Climate Change Heats Up Workforce Safety and Health Concerns: International SOS Calls for Action
National, 29th April 2024 – In light of World Day for Safety and Health at Work on 28 April, the International SOS encourages organizations to reassess their occupational safety and health (OSH) programmes. Climate change is intensifying existing OSH challenges, and organizations must prioritize proactive solutions. This year’s theme, “Impacts of climate change on occupational safety and health,” highlights the urgency of this evolving threat.
The International Labour Organization (ILO) latest report estimates that over 70% of the global workforce faces potential exposure to climate-related health hazards.1 These hazards include extreme heat stress, worsening air quality, and more frequent and severe weather events. Furthermore, the Intergovernmental Panel on Climate Change (IPCC) projects a decline in growth in labour productivity due to climate change impacts.2 By 2030, the equivalent of more than 2% of total working hours worldwide is projected to be lost annually, as a result of extreme temperatures, leading to unsafe working conditions or a decrease in worker output.3
Dr Olivier Lo, Global Medical Director, Occupational Health Services, at International SOS “The escalating threats of climate change necessitate a heightened focus on managing risk exposure and health incidents for the workforce. At International SOS, we saw an 80% increase in climate-related medical alerts throughout the majority of 2023 compared to 2022. This concerning trend is further highlighted by the International SOS Risk Outlook 2024 report, with four of the top five health risks identified by respondents being related to climate or weather factors.4 With climate change adding urgency, it is crucial for organizations to acknowledge its combined impact with existing OSH threats. This is key to effectively safeguard workforce safety, and health and manage productivity.”
The traditional focus of occupational health and safety on physical safety, accident prevention, and maintaining a sustainable work environment has overlooked a critical factor, the impact of climate change on workforce wellbeing. Extreme weather events and climate-related disasters pose a growing threat to mental health and psychosocial wellbeing. These events can trigger a range of emotional responses, including distress, anxiety, depression, grief, and even suicidal behaviour. 5
Dr Vikram Vora, Medical Director – Indian Subcontinent adds “With Southeast Asia bearing the brunt of an unprecedented heat wave this year, it is essential for organizations to go beyond mere compliance and redesigning their workforce health and wellbeing programs to include the capability to respond to health threats posed by climate change. Regular assessments and adaptations are key to ensuring workforce safety in this evolving landscape. By proactively managing emerging occupational health and safety risks, organizations can not only create positive work environments but also contribute to a more sustainable future. This includes mental and emotional wellbeing support, chronic disease management, and preventive healthcare.”
To ensure workforce safety, health and well-being in the face of a changing climate, International SOS encourages organisations to consider the following:
1. Conduct regular risk assessments: Incorporate climate-specific hazards and factor in rising temperatures, extreme weather events and changing air quality. Identify vulnerable workforce profiles and locations most at risk from climate impacts.
2. Prioritise worker health and safety: Integrate climate considerations into existing health and safety programmes. Promote heat stress awareness and prevention measures like hydration protocols and rest breaks.
3. Provide mental health and wellbeing support: Develop resources and training to help employees cope with the psychological impact of extreme weather events or environmental disasters. Offer access to mental health professionals to address potential anxiety or stress related to climate events.
4. Climate-ready training programmes: Equip the workforce with knowledge and skills to work safely in a changing environment. Provide training on emergency preparedness and safe work practices during extreme weather events like floods or wildfires.
5. Robust incident response protocols: Develop clear and well-communicated protocols for responding to heat-related illnesses, accidents during extreme weather, and other climate-related incidents. Implement a system for continuous improvement by reviewing incidents and updating protocols as needed.
Disclaimer: The following press release is provided by a third party and does not necessarily reflect the views or opinions of The Web Portal. The Web Portal does not endorse or take responsibility for the content, accuracy, or completeness of the information provided in the press release.
29, Apr 2024
Social Beat Wins Digital Mandate for Juicy Chemistry
Chennai, 29 April 2024: Juicy Chemistry, an ECOCERT-Certified organic personal care brand has assigned its digital mandate to Social Beat, a leading digital marketing agency known for its innovative strategies and outstanding results. Social Beat will drive brand awareness and consideration across Juicy Chemistry’s product portfolio with creative, innovative, and relatable content. The digital creative mandate was won after a multi-agency pitch process by Juicy Chemistry.
Social Beat will design targeted brand campaigns to boost brand recognition and scale up Juicy Chemistry’s revenue by utilizing various digital media channels including Meta, Google, and targeted campaigns with affiliates and Influencers.
Mr. Vikas Chawla, Co-Founder of Social Beat, said, “We are very happy to be associated with Juicy Chemistry. They have an attractive portfolio of products available for the diverse needs of modern consumers. We look forward to providing result-driven strategies that can help them expand their market penetration and achieve desired results. With the brand’s focus on their digital native target audience, we are positive that we will be able to help them tap the right consumers through the right channels and efficiently amplify their overall reach and business growth in the long run. We look forward to working on innovative ideas for the brand and having a fruitful association with Juicy Chemistry.”
Pritesh and Megha Asher, Co-founders, Juicy Chemistry said, “Our partnership with Social Beat is highly collaborative as our target audience is digital savvy and Social Beat has vast expertise in understanding and efficiently managing the digital movement of consumers. I feel their experience of the digital landscape, understanding of consumers’ digital behaviour, and insight-driven approach to creative communication, will help us augment our visibility, strengthen our reach and boost our marketing efforts to achieve optimal results. We are excited to partner with Social Beat and look forward to taking our brand to the next level with their help.”
29, Apr 2024
Zee Media partners with Greenply for the celebratory second season of Hindustan Ki Shaan Awards
Zee Media partners with Greenply for the celebratory second season of Hindustan Ki Shaan Awards
Zee Media, in partnership with Greenply Industries, is thrilled to announce the second season of the prestigious Hindustan Ki Shaan Awards. This celebration is dedicated to recognizing India’s carpenters and contractors for their exceptional contributions to the interior design industry. Following a successful inaugural season, this year’s on-ground event was scheduled to take place in Mumbai on Saturday, 27th April 2024, and aimed to highlight and honour the remarkable skills and creativity of these vital artisans in shaping aesthetic and functional living spaces.
Hindustan Ki Shaan Season 2 has been an impactful initiative as it included active participation from all professional craftsmen within the woodpanel and interior furniture sectors across India, assessing entries based on criteria including design innovation, problem-solving, and the use of environmentally friendly materials. The jury panel included prominent industry figures such as Shri. Rajesh Mittal, Chairman & MD, Greenply Industries; Manoj Tulsian, JMD & CEO of Greenply Industries; Vertica Dvivedi, founder and director of Wade Asia – Surface Reporter; and Rahul Mehta, CEO of the Furniture & Fittings Skill Council who evaluated the entries based on design excellence, innovation in craft, and the use of environmentally sustainable practices and materials. The second season of the Hindustan Ki Shaan Awards will recognize and elevate the appreciation for the craftsmanship that goes into creating bespoke furniture and innovative interior solutions, with a strong emphasis on sustainability.
Yatnesh Pandey, Chief Marketing Officer, Greenply Industries highlighted “Celebrating these craftsmen not only fosters a sense of community among them but also builds loyalty among consumers who recognize Greenply as a brand that values the backbone of its industry. Our partnership with Zee Media magnifies the impact, ensuring that the stories of these talented artisans are appreciated on a national scale. It positions Greenply strategically as a leader committed to uplifting the entire woodworking and interior design ecosystems.”
With Zee News as its exclusive telecast partner and Zee Media as its digital partner, the event will be covered extensively across all platforms, ensuring that the achievements of these craftsmen are recognized nationwide. This strategic partnership aims to amplify the voices of India’s artisans and connect viewers across the nation to the artistry and innovation within the craftsmanship community.
Mona Jain, Chief Revenue Officer of Zee Media Corporation Limited, expressed her enthusiasm about the collaboration, highlighted “Working with Greenply for the second season of the Hindustan Ki Shaan Awards aligns perfectly with our mission to create social and economic value by spotlighting sectors of our culture that are often overlooked. We are committed to enhancing the visibility of these skilled professionals, improving their career opportunities, and fostering greater appreciation for their work. This initiative is a step towards sustainable development and recognition of these essential industries.”
Anindya Khare, Marketing Head, Zee Media Corporation Limited, further added, Anindya Khare, Marketing Head, Zee Media Corporation Limited, further added, “We are immensely proud to collaborate with Greenply for the second season of the Hindustan Ki Shaan Awards. This partnership allows us to shine a spotlight on the extraordinary talents of India’s carpenters and contractors, who play a pivotal role in enriching our everyday living spaces with their craftsmanship and innovation. Through this initiative, we aim to foster greater recognition and appreciation of their skills, which are crucial in driving the advancement and sustainability of the interior design and construction sectors.”
The award ceremony promises not only to be a platform for recognition but also a venue for sharing transformative stories and discussing the ongoing evolution within the sector. It will underscore the critical role these craftsmen play in not just beautifying spaces, but also in making them functionally robust and environmentally sustainable.
29, Apr 2024
Vestian: Strong start to office markets, sustained leasing activities in Q1 2024 (Jan-March)
New Delhi, 29th April 2024: As per the latest office market report from Vestian, absorption increased to 13.40 Mn sq ft in Q1 2024 from 11.85 Mn sq ft in Q1 2023, showcasing a 13% increase Y-O-Y. However, the absorption declined by 31% this quarter after peaking in Q4 2023. Southern cities (Bengaluru, Chennai, and Hyderabad) accounted for 61% of the Pan-India absorption in Q1 2024 its share increased from 54% a year earlier.
Absorption more than doubled within a year in Chennai and Mumbai, whereas it increased by 51% in Hyderabad. All the other cities witnessed a decline over the same period a year earlier. Moreover, IT-ITeS sector dominated absorption with 47% share, followed by the BFSI sector with 11% share. Flexible spaces garnered interest from large conglomerates post-pandemic, accounting for 8% of the pan-India absorption in Q1 2024.
Shrinivas Rao, FRICS, CEO, Vestian said, “2024 started on a positive note as major office markets of India witnessed sustained absorption activities. ‘Return to Office’ mandates are likely to renew demand for office spaces across the country and may drive the next wave of growth amid global headwinds.”
Absorption:
| City | Q1 2024 | Q4 2023 | Q1 2023 | Q1 2024 vs Q4 2023 | Q1 2024 vs Q1 2023 |
| Bengaluru | 2.62 | 4.80 | 3.30 | -45% | -21% |
| Chennai | 3.35 | 1.30 | 1.60 | 157% | 109% |
| Hyderabad | 2.27 | 4.30 | 1.50 | -47% | 51% |
| Mumbai | 2.49 | 3.10 | 1.20 | -20% | 108% |
| Kolkata | 0.16 | 0.23 | 0.35 | -30% | -54% |
| Pune | 0.71 | 2.60 | 1.50 | -73% | -53% |
| NCR | 1.81 | 3.00 | 2.40 | -40% | -25% |
| Total | 13.40 | 19.33 | 11.85 | -31% | 13% |
Source: Vestian Research
New completions followed the same trend and witnessed an annual increase of 26%, reaching 10.8 Mn sq ft in Q1 2024. However, new completions declined by 27% over the previous quarter. While Bengaluru dominated new completions with 3.7 Mn sq ft, Hyderabad reported nearly 2.5 Mn sq ft of supply during Q1 2024.
New Completions:
| City | Q1 2024 | Q4 2023 | Q1 2023 | Q1 2024 vs Q4 2023 | Q1 2024 vs Q1 2023 |
| Bengaluru | 3.7 | 4.5 | 2.7 | -18% | 37% |
| Chennai | 0.6 | 2.5 | 0.9 | -76% | -33% |
| Hyderabad | 2.5 | 2.3 | 1.6 | 9% | 56% |
| Mumbai | 1.0 | 1.5 | NIL | -33% | NA |
| Kolkata | NIL | NIL | 0.4 | NA | NA |
| Pune | 1.7 | 1.3 | 1.3 | 28% | 31% |
| NCR | 1.3 | 2.6 | 1.7 | -50% | -24% |
| Total | 10.8 | 14.7 | 8.6 | -27% | 26% |
Source: Vestian Research
Absorption surpassing new completions led to a slight improvement in occupancy levels across the country. Currently, the vacancy level stands at 13.8%, which may improve further in the second half of 2024, owing to the growing prominence of ‘Back to Office’ mandates.
Weighted Average Rentals Value (INR/sq ft/Month):
| City | Q1 2024 | Q4 2023 | Q1 2023 | Q-o-Q% Change | Y-o-Y% Change |
| Bengaluru | 85 | 85 | 83 | 0.0% | 2.4% |
| Chennai | 60.5 | 59.5 | 58.4 | 1.7% | 3.6% |
| Hyderabad | 66.9 | 66.6 | 63 | 0.4% | 6.2% |
| Mumbai | 126.4 | 124.5 | 122 | 1.5% | 3.6% |
| Kolkata | 46.7 | 45.3 | 45 | 3.1% | 3.8% |
| Pune | 78.2 | 76 | 73 | 2.9% | 6.8% |
| NCR | 67.7 | 67 | 65.3 | 1.0% | 3.7% |
Source: Vestian Research
Sustained absorption activities and limited new completions in the past year guided rentals northward. As a result, rentals appreciated across the top seven cities in the range of 2.4% to 6.8% over the previous year. Pune witnessed the highest annual increase in rentals due to robust demand for office spaces with a majority of transactions, around 37%, concentrated in the manufacturing and engineering sector.
Mr. Rao further added, “domestic investors are bullish about India’s growth story and may contribute significantly to the future growth of office spaces in India.”
29, Apr 2024
Menhood receives NSE’s nod for an SME IPO – SKICapital Services to be sole Lead Manager to the issue
New Delhi, April 29, 2024: Manhood, a premium men’s grooming brand dedicated to innovating below-the-belt hygiene solutions has received NSE’s approval for a SME IPO. SKI Capital Services will be sole Lead Manager to the issue.
SKI Capital will bring their extensive expertise and support to this pivotal phase of Menhood’s growth.
SKI is a SEBI-registered – Category 1 Merchant Banker with an experience of more than three decades in capital markets. Last year, SKI Capital’s AIF had closed a target corpus of Rs 600 that would be focused on sustainable growth and societal impact. “We are thrilled to be guiding Menhood through this important transition of public market debut and are confident in their potential for further success,” stated Manick Wadhwa, Director at SKI Capital Services Limited.
“Our mission at Menhood has always been clear—to challenge the status quo and provide every man with the tools they need for impeccable personal care,” said Dushyant Gandotra, Founder & CEO of Menhood.
“Men’s grooming has traditionally been a taboo topic, but it represents a huge, untapped market in India that we are eager to cultivate and normalize through education and high-quality care products.”, expressed ShivamBhateja, Co-Founder of Menhood.
