31, Jan 2024
Meeting With TN Chief Minister in ROCA Group HQ Spain, Madrid
Roca Group, the world leader in design, production, and marketing of products for the bathroom. The company, with a firm commitment to sustainable development accredited throughout its century-long history, had the privilege of meeting with TN Chief Minister and his delegation in Madrid, Spain.
This meeting aims to generate positive impact in three fundamental areas: People, Planet and Prosperity. Roca Group seeks to improve people’s lives and contribute to the preservation of its environment by creating shared value that allows reinvestment, on one hand, for the development of quality jobs and, on the other, for the care of the environment.
Roca Bathroom Products Private Limited (Roca India) is the market leader in the category and products sold under the brand name “Laufen,” “Roca,” “Parryware” and “Johnson Pedder”. The company has 9 factories in India out of which 4 factories are in Tamil Nadu at Ranipet, Perundurai, Sriperumbudur, and Irungatukottai.
The Investor-Friendly Ecosystem in Tamil Nadu and their commitment to the investors, employees and environment has helped Roca India to increase their footprint in Tamil Nadu over last many decades.
The meeting in Spain was attended by Mr, Carlos Velazquez, ROCA Global Director and Mr. K Nirmal Kumar, Managing Director of Roca India.
ROCA India MD Mr K.Nirmal Kumar said post interaction with the Honourable Tamil Nadu Chief Minister and his very industrial friendly delegation visiting Spain ” ROCA India has committed to invest further in Process Automation to Export products to Europe and Australia, Capacity Expansion in Pipes and Fittings and upgrade the Sanitaryware and Plastics Technical Centre to world standards in Tamil Nādu. Apart from the above, Roca India will be continuously modernising their factories to produce products meeting the consumer demand. The overall investment will be to a tune of Rs.400 crores of which shows ROCA Worldwide confidence in Tamil Nadu
Government”.ROCA India MD Mr K.Nirmal Kumar said, “All these factories produce goods which are supplied across the globe including Europe, which demands the best quality and environment-friendly production methods” and ROCA India is indeed leveraging the vast and technologically savvy workforce readily available in youth of Tamil Nādu.” ROCA Global Director, Mr Carlos Velazquez said “In India efforts are on modernizing factories in line with steep reduction in CO2 emission.In India, 7 out of 9 factories of ROCA are partially powered by Solar energy ensuring Green and sustainable energy.”
To decarbonise the inherent energy and carbon-intensive production of ceramic goods 1, the company has successfully commissioned the World First Electric Kiln to produce sanitaryware at its Laufen plant in Gmunden (Austria). This initiative will position Roca Group as a First Player in the World with a Net-Zero Sanitary Ceramics Production Plan with a significant knock-on effect over the whole sector.
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- By Rabindra
31, Jan 2024
Blue Star appoints Mr Murlidhar Gangadharan and Mr Vipin Sondhi on its Board
Mumbai, 31 January 30, 2024: Air conditioning and commercial refrigeration major, Blue Star Limited, has announced the appointment of two new members on its Board, Mr Murlidhar Gangadharan and Mr Vipin Sondhi. Both are being inducted in the capacity of Additional Directors designated as Independent Directors, with effect from January 30, 2024, for a period of five years. These members will further strengthen the Board with their rich and diverse experience.
Mr Murlidhar Gangadharan is a finance professional with around 40 years of expertise across various industries including insurance, financial services, manufacturing, and pharma. He holds a bachelor’s degree in physics from Mumbai University, apart from being a Chartered Account, Cost Accountant and Company Secretary. He also completed the Advanced Management Programme from Harvard Business School, Boston, USA. In the first part of his career,
Mr Murlidhar gained experience across a variety of businesses in manufacturing including engineering, electrical safety, pharmaceutical, and glass manufacturing having worked with reputed companies such as Gujarat Glass (now Piramal Glass), Ion Exchange, Nicholas Piramal Pharmaceuticals and MDS Switchgear (Now Legrand). Thereafter, in 2000, he transitioned to financial services and was the Founding Member of Kotak Life Insurance where he played a significant role in spearheading one of the fastest-growing life insurance companies in India and rose to become its Managing Director & Chief Executive Officer. Having worked at all levels in a finance function from accountant to head of finance, Mr Murlidhar is passionate about designing talent development and performance management processes that transform teams into high-performing centers of excellence.
Mr Vipin Sondhi has four decades of experience in the Manufacturing and Engineering arena. He holds a bachelor’s degree in technology in Mechanical Engineering from IIT Delhi and a Post Graduate Management Degree from IIM, Ahmedabad. Mr Sondhi has been the Managing Director & Chief Executive Officer of Tecumseh India, JCB India and most recently Ashok Leyland. He has also worked
with other reputed organisations including Escorts Group, Shriram Honda Power Equipment, and Tata Iron & Steel Company. Mr Sondhi has also held several Advisory roles such as Chairperson, National Board for Quality Promotion, Quality Council of India; Member, Technology Advisory Group to Empowered Technology Group (Appointed by Principal Scientific, Advisor to Govt. of India) and Member, Consultative Group of Experts on e-Mobility, Niti Aayog, Govt. of India. In addition, he has been a past Vice President, Society of India Automobile Manufacturers (SIAM) and on the Board of several NGOs such as Bharatiya Yuva Shakti Trust, Ananta Centre, and Sasakawa India Leprosy Foundation.”
31, Jan 2024
NUVOCO Vistas announces its financial results for Q3 FY24
Mumbai, January 31, 2024: Nuvoco Vistas Corp. Ltd., a leading building materials Company in India, announced its unaudited financial results for the quarter ended December 31, 2023. With 25 MMTPA of combined installed capacity, Nuvoco Vistas Corp. Ltd. is the fifth largest cement group in India and amongst the leading cement players in East India.
The consolidated cement sales volume for the Company stood at 4.02 MMT in Q3 FY24. Consolidated revenue from operations during the same period stood at Rs. 2,421 crores. Consolidated EBITDA improved by 55% YoY to Rs. 421 crores.
The Company has successfully commissioned a 1.2 MMTPA Cement Mill at Haryana Cement Plant, taking the overall cement capacity to 25 MMTPA. This expansion will boost production volumes in the Northern region and enhances the ability to provide a diverse range of unique product offering to customers.
Premium products continue to remain a key focus area for the Company and have contributed significantly, with a 36% share of the company’s cement trade volumes in Q3 FY24. Building on this leadership, we recently launched brand new marketing campaign for Duraguard Franchisee – ‘Seedhi Baat Hai, Duraguard Khaas Hai’, underscoring its unique features and reinforcing customer trust. Additionally, the Company also introduced engaging brand activation activity “Sabse Khaas Sarpanch”, showcasing impactful stories of Sarpanches contributing to village development. These initiatives aim to boost market position and elevate the brand.
The Company remains committed to its sustainability agenda – Protect Our Planet. The Company has amongst the lowest carbon emissions at 462 kg CO2 per ton of cementitious materials1. The Company achieved significant improvement of 5% YoY in alternate fuel rate (AFR) to 14% in Q3 FY24, amongst the best in the industry.
Commenting on the performance of the Company, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd. stated, “Despite the challenging demand environment, the Company continues to deliver strong growth in EBITDA. We achieved the highest EBITDA per ton compared to the past ten quarters; a testament to our operational excellence, focusing on cost efficiency and value-led growth.”
Furthermore, he added, “With additional capacity in the Haryana Cement Plant, we are set to seize the opportunities. We continue to emphasize on quality and innovation and secure a larger market share in the North while retaining our leadership position in the East. On the Ready-Mix Concrete business, we have commissioned five new plants in the current fiscal, bringing our total to 56 plants pan-India.”
31, Jan 2024
Shriram Housing Finance’ Assets Under Management crosses 12,000 Cr.
Shriram Housing Finance Limited, a leading affordable housing finance company announced its results for Q3 FY’24. Assets Under Management (AUM) as of end of the calendar year grew to INR 12,025 Cr.
The disbursals for the quarter stood at INR 1,698 Cr, up 70% YoY. The company has maintained an accelerated growth momentum in 9M FY’24, with overall disbursals of INR 5,289 Cr within this period.
Asset quality improved with Gross Stage-3 assets at 1.01% (including RBI circular dated 12 Nov’21), a 14 bps YoY improvement. Net Interest Margins in Q3 FY’24 also improved by 70 bps YoY to 8.1%. PAT for Q3 FY’24 stood at INR 61.5 Cr, a growth of 69% YoY.
For 9M FY’24, the PAT stood at INR 155 Cr., a 54% growth YoY.
Expanding Distribution Network: The company continues to invest in its distribution expansion across the identified key focus states. The total branch network grew to 149 branches as on Dec’23. The company continues to be a dominant player in Tamil Nadu and Gujarat; and is aiming for the leadership position across few other focused geographies.
Commenting on the results Ravi Subramanian, MD & CEO, Shriram Housing Finance said, “We continue to be a dominant player in the Affordable Housing Finance segment. The demand for housing loans, especially outside of the metros, remains robust. Our focus is the small business/self-employed segment and we believe that the organic demand for housing will be robust over the next few years. We would continue our investment in scaling up the branch network to enhance our distribution. Our endeavour is also to improve our technology interface to enhance the experience for our customers. Our AUM has grown by 4x over the last 3 years, with our portfolio quality being amongst the best in the industry. We would continue to build our businesses at the same pace with clear focus on risk controls.”
30, Jan 2024
SEBI Chairperson interacts with the members of the Brokers Industry Standards Forum (ISF)
30th January 2024: SEBI Chairperson Smt. Madhabi Puri Buch today interacted with the participants of the Brokers Industry Standards Forum (ISF).
During a media interaction post the meeting, she said: “The brokers ISF setup in Sep 2023 has done a commendable job in the past four months in giving implementable recommendations on standards and guidelines of implementing regulatory directives.”
“When standards are proposed by the market practitioners themselves, many wrinkles in implementation are ironed out at inception,” she added.
Shri Vijay Mehta, President of Association of National Exchange Members of India (ANMI) said: “We are glad that our recommendations have been appreciated by the authorities. We look forward to being responsible partners of the regulator.”
Shri Kishor Kansagra, Chairman of Bombay Stock Exchange Brokers Forum (BBF) said: “This is a matter of great responsibility of the entire broking community, and we look forward to providing implementable solutions in our inputs to the regulatory authorities.”
Shri Narinder Wadhwa, President of Commodity Participants Association of India (CPAI) said: “When industry and regulatory authorities work together, it solves issues in at the design stage itself and ensures smooth execution of the directives.”
30, Jan 2024
Tata Motors introduces Turbotronn 2.0 engine, makes trucking more efficient and reliable
Bengaluru,30th January 2024: Tata Motors, India’s largest commercial vehicle manufacturer, today introduced its technologically advanced engine, Turbotronn 2.0, to deliver a new benchmark of excellence in trucking. Highly fuel efficient and reliable, this indigenously developed, versatile engine will power Tata trucks in 19-42 tonne range for multiple applications across categories. Perfectly suited for rapidly growing e-commerce, logistics, parcel and courier segments, the Turbotronn 2.0 engine is designed to address specific needs expressed by customers, offers enhanced driving experience and is engineered to deliver robust performance with inherent benefits of lowering Total Cost of Ownership (TCO). It has been rigorously tested for over 30 lakh km and 70,000 cumulative hours across diverse duty cycles and harsh terrains. Fully compliant with the BS6 Phase 2 emission norms, the Turbotronn 2.0 is platform-agnostic and offered with Signa, Ultra, LPT and cowl platform and comes with a warranty of 6 years/6 lakh km.
Key highlights: Tata Turbotronn 2.0
- Available in multiple power nodes with flatter torque curve for enhanced drivability
- Improved diagnostics
- 6-year/6 lakh km warranty
- Available with optional cruise control
A 5-litre turbocharged diesel engine, the efficient and versatile Turbotronn 2.0 is offered in multiple states of tune ranging from 180-204 PS and engineered to offer a flatter torque curve in the range of 700-850 Nm for better drivability. With longer oil drain and service intervals of 1 lakh km, its distinctive attributes ensure more vehicle uptime to generate higher revenues.
Introducing the Turbotronn 2.0, Mr. Rajendra Petkar, President and Chief Technology Officer, Tata Motors, said “The Turbotronn 2.0 is one of our most advanced internal combustion engines. Engineered with latest technologies, it enables trucks to cover longer distances in shorter time. Its robust performance and high fuel efficiency has set new industry benchmarks for trucking in India.”
Sharing his thoughts, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors, said, “At Tata Motors, we closely partner with customers to make their businesses prosper. The Turbotronn 2.0 has been developed with extensive inputs from transporters and provides them with an edge in the highly competitive industry. Its superior value proposition, makes trucking more seamless, efficient and reliable resulting in higher revenues and lower costs.
As a comprehensive mobility solutions provider, Tata Motors commercial vehicles come with advanced features, efficient powertrains and richer value-additions. Fleet owners benefit from better fuel efficiency, lower operating costs, high vehicle uptime, real-time tracking and analytics through Tata Motors Fleet Edge. Its Sampoorna Seva 2.0 initiative provides unmatched vehicle lifecycle management services, including fleet management solutions, annual maintenance contract and roadside assistance amongst others. With the widest service network of 2500+ touchpoints, staffed by trained specialists and backed by Tata Genuine Parts, Tata Motors ensures unparalleled quality and service commitment.
As part of a reliability test, Tata Motors kick-started a 30-day endurance run with its Tata Ultra T.19, powered by the Turbotronn 2.0 engine. The aim was to do a non-stop run on the Golden Quadrilateral, a crucial national highway network connecting India’s metros establishing highest possible standards of durability and efficiency. The Tata Ultra T.19 not only completed nine rounds of the Golden Quadrilateral successfully but also secured nine records in both the India Book of Records and the Asia Book of Records. These extraordinary achievements were made possible by the efficient and reliable Turbotronn 2.0 engine-powered Tata Ultra T.19, marking a significant milestone in the realm of commercial vehicles.
Tata Motors triumphs with first-in-the-country records in India Book of Records and Asia Book of Records:
- Fastest to cover 30,000km by a medium CV
- Fastest to cover Golden Quadrilateral by a medium CV
- Highest fuel efficiency by a diesel medium CV
- Highest fuel efficiency by a diesel medium CV over one roundtrip of Golden Quadrilateral
- Maximum distance covered by a medium CV in a month
- Maximum distance covered by a fully loaded 19-tonne truck in a month
- Highest fuel efficiency by a diesel medium CV on the Chennai-Kolkata stretch
- Highest fuel efficiency by a diesel medium CV on the Delhi-Mumbai stretch
- Highest fuel efficiency by a diesel medium CV on the Kolkata-Delhi stretch
30, Jan 2024
Moduco and Puerto Verde Holdings Forge Strategic Alliance for Sustainable Construction in Texas
Surat, Gujarat- January 30, 2024: Moduco and Puerto Verde Holdings are together pleased to announce the signing of the landmark Memorandum of Understanding (MOU) to drive Texas’ construction unit manufacturing. The deal was formalized during a ceremonial delegation visit headed by Governor Greg Abbott, marking a significant turning point for environmentally friendly building methods in the area.
Among the notable attendees at the event were Arun Agarwal, the vice chair of Texas economic development, Jane Nelson, the state secretary of Texas, and Ruben Garibay from Puerto Verde Holdings.
With invitations from important economic development organizations across the United States, this partnership represents an enormous potential for Moduco in 2024 and highlights the importance of its creative construction methodology.
The company is well-known for producing environmentally friendly residences, workplaces, and structures, and is poised to have a significant influence on Texas’ building market. The business’s use of environmentally friendly materials demonstrates its dedication to ethical building methods.
“In the evolving landscape, the world is swiftly transitioning, with manufacturing embracing 80% technology and 20% manual machinery. Strikingly, the construction industry stands in reverse. Even in this golden age of technology, construction persists in manual processes. Post-COVID, it is high time we embrace the change. Whether today or tomorrow, change is inevitable. The wise embrace it early, securing the benefits of transformation,” says Naitik Lakhani, Founder & CEO at Moduco. “Our commitment to environmentally friendly materials aligns perfectly with Puerto Verde Holdings’ vision for a greener future.”
“Moduco is transforming global home construction, delivering better, faster, and safer processes. As the Master Distributor for Texas and Partner in the upcoming Mexico Factory, I, recognize Moduco’s impact: a revolutionary solution for everyone. Proud to be part of Moduco’s success, its streamlined processes ensure superior quality at an affordable price—changing the game in America and beyond,” said Ricardo Montoya, Master Associate Partner of Moduco Texas.
In the words of Ruben Garibay, Chairman, Puerto Verde Holdings, USA, “We are pleased to be collaborating with MODUCO on this fantastic project that serves our mutual goal of providing affordable housing at a level of quality that homeowners deserve. The chosen region will consume thousands of a wide variety of homes and products MODUCO will produce with local labor.”
Governor Greg Abbott, the first lady, and all those present are thanked by Moduco for their support as they embark on this incredible journey. Moduco is unwavering in its resolve to transform the building industry by utilizing ecologically conscious and sustainable methods.
30, Jan 2024
T-Hub Hosts Anthill Ventures’ Pioneering Family Office Alliance
Hyderabad, 30 January 2024 – T-Hub, India’s leading startup incubator, today witnessed the launch event of India’s first-ever Family Office Alliance by Anthill Ventures. The event aimed to elevate Telangana and India’s startup landscape, providing unparalleled opportunities for entrepreneurs to scale rapidly with global support.
The event took place at T-Hub and brought together distinguished European and Indian Family Offices to cultivate cultural connections, facilitate networking relationships, and explore investment opportunities between the vibrant ecosystems of India and Europe. Dignitaries in attendance included Honourable IT Minister of State Sri D. Sridhar Babu and Principal Secretary, Department of Information Technology, Electronics & Communications (ITE&C) and Department of Industries & Commerce, Jayesh Ranjan as Chief Guests. Notable figures such as Indian actor, Producer, and Techpreneur Rana Daggubati, Cyient & Chairman at IIT Hyderabad BVR Mohan Reddy, Founder of iLabs, Srinivasa Raju Chintalapati, NAR Infra’s Executive Director, Parvathi Reddy, and the CEO of T-Hub Mahankali Srinivas Rao graced the occasion.
Honourable Chief Guest Sri D. Sridhar Babu led a welcoming panel on Telangana, emphasising the state’s vast entrepreneurial potential for global investors & entrepreneurs. The panel, featuring luminaries such as Parvathi Reddy, Srinivas Rao Mahankali, and Honourable Principal Secretary ITE & Commerce Jayesh Ranjan, provided insights into the region’s burgeoning startup ecosystem. Honourable IT Minister of State Sri D. Sridhar Babu remarked, “Telangana stands as a beacon for global investors and entrepreneurs, offering vast opportunities in our dynamic and thriving startup ecosystem. This was followed by an addressal by the Founder of the Family Office Alliance Philip von Wulffen & Anthill Venture’s CEO & Founder Prasad Vanga on the manifestation & evolution of the Family Office Alliance.
Mahankali Srinivas Rao, CEO of T-Hub, said, ” The event solidifies our commitment to nurturing innovation and fostering global collaborations. The Family Office Alliance is a testament to our vision of creating a conducive environment for businesses to flourish, and we are excited about the transformative impact it will have on the entrepreneurial landscape of India.”
T-Hub, through its robust innovation ecosystem, has been instrumental in nurturing over 3,000 startups, engaging with 150 mentors, collaborating with 350 corporate partners, and resulting in a remarkable $1.9 billion raised investments by its startups.
Prasad Vanga, CEO and Founder, Anthill Ventures, said, “The support that this incredible country and the state of Telangana offers to the visionaries of tomorrow — brave entrepreneurs manifesting ideas that contribute to smart and better living across a series of industries for generations to come from now to Gen Z, Gen X and beyond — deserves a platform like this. We are here to back this vision through these focussed alliances that will allow the industry to #scalewithspeed with the intent to bring the best of great companies and prescient entrepreneurs across Urban Lifestyle and Urban Tech. We couldn’t be more grateful for the support of the Family Office Alliance and T-Hub to make this unique event come to life.”
The event successfully served as a platform for collaboration, solidifying connections and paving the way for future engagements between European and Indian Family Offices. It also witnessed compelling Family Office Panel Discussion with industry leaders such as BVR Mohan Reddy, Srinivasa Raju Chintalapati, Kristin Bjelland (CEO, Bjella Investments), and Cristina Ventura (General Partner, White Star Capital). Delving into innovation, a panel discussion on the impact of Artificial Intelligence on Content Creation, Indian consumer trends, and tech markets included insights from notable figures like Rana Daggubati, Rauno Miljand (Skype Manager and Family Office Principal), Peder Wallenberg (Senior Partner, Cohesion Investments), and Akis Evangelidis (Co-Founder, Nothing). The event concluded with a keynote address by Aditya Ghosh, Co-founder & Board Member of Akasa Air, providing valuable perspectives on scaling up in the Indian market, followed by an exclusive tour of T-Works, India’s largest prototyping center. Notably, the esteemed guests at the event were invited by Anthill Ventures, showcasing the organization’s commitment to fostering global collaborations and providing a platform for impactful discussions.
30, Jan 2024
Alice Blue’s Ascent to 1 Million Derivative Traders by 2025
Bengaluru 30th Jan 2024: Alice Blue, a Bengaluru-based discount stock broker that offers a platform to trade equities, derivatives, commodities, currencies, mutual funds, and IPOs has set an ambitious goal of reaching 1 million derivative traders by 2025. In the past few years, the financial market system in India is witnessed a huge surge in derivatives turnover and trading volume. The surge in turnover of derivatives is unprecedented and meteoric, as it has even surpassed the volumes of the cash segment. This has established derivatives as an ideal investment instrument that can be highly profitable to investors. However, investing in derivatives requires a detailed understanding of the instrument. This is where Alice Blue steps in and aims to disrupt the derivative market of India.
What is Derivative Trading and How Alice Blue is making strides in the market
Derivatives are instruments that derive their value from underlying assets, such as stocks, indices, commodities, and currencies. They are used to hedge against risks, speculate on price movements, or leverage returns. Derivatives trading in India is regulated by the Securities and Exchange Board of India (SEBI) and can be done through various exchanges, such as the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), the Multi Commodity Exchange (MCX), and the National Commodity and Derivatives Exchange (NCDEX).
According to SEBI data, the total turnover of the derivatives market in India was Rs. 1,444 lakh crore in 2020-21, a 58% increase from the previous year. The equity derivatives segment accounted for 88% of the total turnover, followed by the currency derivatives segment with 8%, and the commodity derivatives segment with 4%.
In this changing dynamic landscape of the Indian derivative marketplace, Alice Blue is emerging as a trailblazer, making significant strides with its innovative approach and comprehensive understanding of derivatives. The platform stands out by providing users with valuable resources that demystify the complexities of derivatives trading. Through detailed insights available on their official website, Alice Blue educates traders on various types of derivatives, empowering them to make informed decisions.
Alice Blue’s commitment to transparency and education is also evident in their comprehensive guide that serves as a knowledge hub, elucidating the fundamentals of derivatives and equipping traders with the necessary understanding to navigate the derivative market confidently.
Today, with the offering of trading facilities across all segments and exchanges, Alice Blue has a market share of 3.5% in the equity derivatives segment, 2.8% in the currency derivatives segment, and 1.9% in the commodity derivatives segment. Alice Blue has also been awarded by NSE and MCX for its excellence in derivatives trading.
Alice Blue’s competitive edge lies in its unique products, technology, and pricing. The company offers ANT, a trading platform and app that provides superior user experience, cutting-edge technology, and advanced trading features. ANT also allows users to automate their trades or build their own trading platform with free APIs. Alice Blue also offers zero fees for equity delivery, mutual funds, and IPOs, and a flat fee of Rs. 15 per order for all other segments. This makes Alice Blue one of the most cost-efficient brokers in the industry with zero clearing member charges.
How Alice Blue is attracting and retaining customers
Alice Blue’s vision is to be the Number 1 choice of Traders & Investors in India, by providing them with the products, services, and education. The company aims to grow it to 1 million by 2025 and to achieve this, Alice Blue has adopted various strategies, such as:
● Providing a seamless and hassle-free account opening process, which can be done online in 15 minutes with PAN and Aadhaar card.
● Offering a range of investment options, such as stocks, FNO, commodities, mutual funds, IPOs, bonds, and equity.
● Conducting regular webinars, workshops, and courses on various topics related to trading and investing, through its Trade School initiative.
● Launching innovative campaigns and programs, such as the Refer and Earn program.
● Providing excellent customer support, through a dedicated centralised customer support team for client + partner queries, call and trade facility, and email support.
How Alice Blue is preparing for the future
Alice Blue is not resting on its laurels but is constantly innovating and improving its products and services, to cater to the evolving needs and preferences of its customers. The company has a strong focus on technology, and is investing heavily in developing new features and functionalities for its ANT web platform and ANT Mobi 2.0 app. Some of the upcoming features include:
● ANT Scanner, a tool that scans the market for trading opportunities based on predefined criteria and alerts the user.
● ANT Screener, a tool that filters and sorts stocks, FNO, commodities, and currencies based on various parameters and indicators.
Alice Blue is also expanding its presence across the country, by opening new branches and franchises and partnering with local brokers and sub-brokers. The company currently has over 20+ branches and 15,000 partners, and plans to increase them by 50K, by 2025.
30, Jan 2024
Dwarka Expressway and New Gurugram emerged as Most demanding real estate hubs
Gurugram: India’s real estate market has witnessed an unprecedented surge in demand for residential properties throughout the year 2023. According to the latest PropIndex Magicbricks report, Gurugram has experienced a remarkable 43.2% growth in its average real estate rates over the last eight quarters. This substantial increase not only reflects the market’s resilience but also underscores its sustained and robust nature. Particularly noteworthy is the significant uptick observed in the recent quarters, culminating in a remarkable 13.8% quarter-on-quarter (QoQ) rise in the last quarter, reinforcing Gurugram’s pivotal role in the residential real estate sector.
At the forefront of this dynamic market are two prominent locales, Dwarka Expressway, and New Gurugram, each carving out a unique identity and contributing to the city’s emergence as a hotspot for those seeking a perfect blend of contemporary living and connectivity.
Remarkably, Dwarka Expressway and New Gurugram have emerged as the most demanding locations, witnessing the highest demand and being the most searched for 3 BHK luxury units in the last two years. This surge in popularity is further accentuated by the substantial increase in prices, with a noteworthy jump from Rs 8,016 to Rs 11,483, reflecting an impressive 43.2% average growth over the last eight quarters. The allure of these locales lies in their ability to offer not just residences but an unparalleled lifestyle that combines modern living with exceptional connectivity, making Gurugram a beacon in the realm of residential real estate.
Mr. Ravi Aggarwal, Co-Founder & Managing Director of Signature Global (India) Ltd., stated, “As the demand for quality living spaces continues to rise, Gurugram’s residential preferences align with Transit Oriented Development corridors. Dwarka Expressway, New Gurugram, SPR, and South of Gurugram (Sohna) have become focal points, offering not just residences but lifestyles enriched by superior connectivity and amenities.”
He further adds, “Dwarka Expressway maintains its position as the leading destination. This accolade is attributed to its robust commercial and retail infrastructure, complemented by superior social amenities. Post-COVID era demand for large homes has increased, and the recent Magic Bricks PropIndex report echoed the same sentiment about luxury and mid-housing properties. This trend indicates a promising future for growing locations across the millennium city.”
The National Housing Bank’s latest report further validates Gurugram’s real estate prowess, revealing a staggering 29.1% increase in the House Price Index (HPI) for under-construction properties in the third quarter of 2023, surpassing the 50-city average. This surge in demand is not merely a statistical anomaly but a testament to the discerning clientele’s pursuit of not just a home but an elevated living experience.
The recently published PropIndex Magicbricks report sheds light on the top micro-markets in Gurugram with the highest number of searches in the fourth quarter of 2023. New Gurugram leads the charts, securing the first rank with an average rate of Rs 8,200, closely followed by Dwarka Expressway at the second rank with an average rate of Rs 10,700. Southern Peripheral Road clinches the eighth position with an average rate of Rs 11,100.
Furthermore, the Gurugram residential real estate market exhibits a diverse pricing spectrum, ranging from INR 8,000 to 15,300 psf, encompassing a wide range of property configurations.
various configurations. The average rate for 1 BHK residence is INR 8,000 psf, whereas the luxury segments, particularly 3 BHK and above, command an average rate of INR 15,300 psf.
In the residential domain, significant attention is directed towards the highly sought-after 3 BHK units, which currently dominate with a 54% market share. The 2 BHK units are closely behind, securing a notable 29% of the demand. Moreover, properties within the cover area of 2,000-3,000 sq. ft. and above 3,000 sq. ft. emerge as the focal point, collectively holding an impressive market share of 47% and 44% respectively. This underscores the preferences of discerning homebuyers who prioritize expansive and well-designed residences.
A noteworthy aspect of Gurugram’s real estate dynamics is the strong inclination towards the luxury segment. Properties priced above INR 10,000 per square foot are witnessing heightened demand, underscoring the city’s appeal to discerning luxury property seekers.
Dwarka Expressway and New Gurugram have established themselves as the highest-demand markets in Millennium City, fueled by the convergence of economic opportunities, connectivity advantages, and evolving consumer preferences. As Gurugram continues to evolve as a prime real estate destination, these micro markets are poised to play a pivotal role in shaping the city’s future real estate landscape.
