Category Archives: News

ITC Grand Chola Leads Sustainability with Cleanliness Drive under Swachh Bharat Abhiyan in Chennai

ITC Grand Chola, in collaboration with local communities and volunteers, successfully conducted a cleanliness drive along Race Course Road today. The initiative aimed to promote environmental consciousness, a cleaner and healthier environment, and contribute to the city’s efforts toward sustainability.

This large-scale effort was supported by over 25 volunteers, including ITC Grand Chola’s associates, all committed to keeping our surroundings clean and green. The drive, part of ITC Hotels’ larger environmental initiative, focused on removing waste, educating participants on proper waste management practices, and encouraging the public to take an active role in keeping public spaces clean. Participants were equipped with biodegradable waste bags, gloves, and safety equipment, ensuring a safe and eco-friendly clean-up.

“Our mission is to not just curate luxurious experiences, but also meaningful impact in the communities we serve. This cleanliness drive is a testament to our commitment to sustainability and our responsibility to give back to the environment,” said Shaariq Akhtar, General Manager, ITC Grand Chola. “We hope this initiative will inspire others to take action and be part of the larger effort to keep our city clean and green for generations to come.”

ITC Grand Chola continues to be a leader in environmental stewardship, setting an example for both corporate and community efforts in sustainable living and Responsible Luxury.

Magnus Farm Secures Strategic Investment to Drive Global Growth and Product Innovation

National, October 16th, 2024: Magnus Farm Fresh Pvt Ltd, a leading Indian producer and exporter of fresh fruits and vegetables, has confirmed that Tarun Singh, MD Highbrow Securities has acquired a 3.5% minority stake in the company. Singh, a seasoned investor with over two decades of experience supporting SMEs, seeks to leverage his expertise to accelerate the company’s growth and global expansion. The partnership also includes plans for product innovation, with a potential follow-up investment of USD 3 million within the next year, underscoring Singh’s commitment to the long-term success of Magnus Farm

The investment will accelerate Magnus Farm’s expansion, allowing it to diversify its product offerings and expand its workforce. Funds will be used to develop a state-of-the-art processed food line including Individually Quick Frozen (IQF), frozen, and retort products, as well as cultivate new fruit varieties, accelerating its global export capabilities and market presence.

With a network of over 3,000 growers across Maharashtra’s prime agricultural districts including Nashik, Sangli, Solapur, Pune, Osmanabad, and Ahmednagar; Magnus Farm has established a strong presence in key global markets, such as Europe, the UK, Russia, Southeast Asia, Canada, and the Middle East, supplying fresh produce to major supermarket chains like Edeka, NETTO, Superunie, Aldi, Lidl, Rewe and X5.

India’s food processing and export industry is experiencing robust growth, driven by increasing global demand for premium-quality produce. Magnus Farm’s solid foundation and industry leadership position it well to capitalize on this momentum, making it an ideal choice for Singh’s strategic investment.

Mr. Tarun Singh explained, “My decision to invest in Magnus Farm stems from the food industry’s fundamental and timeless relevance. While other sectors can be unpredictable, the food sector offers a steady, and reliable growth, akin to the tortoise’s consistent pace in the fable. Magnus Farm impressed me with its compelling valuation, strong leadership, and innovative business model. I’m confident of their potential to lead the market. With my experience in the European food sector, I look forward to supporting their global expansion and helping them unlock new opportunities internationally.”

Since its inception, Magnus Farm has achieved impressive growth, increasing its revenue approximately 3 times from over INR 53 crore in FY 2020-21 to INR 150 crore in FY 2023-24. Mr. Singh further highlighted, “The company’s growth underscores the company’s robust expansion strategy and its ability to cater to both domestic as well as international markets and expand into high-demand regions like the Middle East and Southeast Asia.”

Laxman Savalkar, Founder and Director of Magnus Farm, echoed Mr. Singh’s sentiment and stated , “We are thrilled to welcome Mr. Tarun Singh as both an investor and strategic partner in Magnus Farm. His vast experience and deep insights will play a pivotal role as we drive forward our expansion plans and enhance our product range. Magnus Farms is committed to driving innovation and playing a pivotal role in India’s agriculture and food export sector by scaling to new heights in the global export market. With our association, we are excited about the next phase of growth and the opportunities that lie ahead for Magnus Farm.”

As part of its growth strategy, Magnus Farm is expanding its farmer networks and integrating advanced technology to optimize crop cycles. With a plan to increase its farmer base to 10,000 in the next two years, the company aims to ensure fair pricing, timely payments, and greater transparency across its supply chain. Magnus Farm’s commitment to innovation and sustainability is set to drive substantial growth across both domestic and international markets.

The investment in Magnus Farm reflects Tarun Singh’s strategic vision and commitment to driving value in the agri-sector. Known for his deep market insights and foresight, Singh has consistently demonstrated his ability to scale businesses and create long-term growth for his portfolio companies.

Singh’s track record is exemplified by his early investment in Srivari Spices & Foods Ltd., where he played a pivotal role in shaping the company’s growth strategy. By providing both strategic capital and guidance, he positioned Srivari for an immensely successful IPO, which yielded substantial returns on his investment and even managed to raise a subsequent round of funding through Rights Issue within a year of public listing.

Drukair firms up order for Airbus A321XLR, A320neo aircraft

Paro, Bhutan, 15 October 2024 – Drukair – Royal Bhutan Airlines, the national flag carrier of the Kingdom of Bhutan, has firmed up an order with Airbus for three A320neo and two A321XLR aircraft to expand its international network. The agreement was sealed in Paro by Tandi Wangchuk, Chief Executive Officer of Drukair, and Paul Meijers, Executive Vice-President Contracts of Airbus, in presence of Yab Dasho Dhondup Gyaltshen, the Governor of the Royal Monetary Authority of Bhutan, Dasho Penjore, the Bhutan Foreign Secretary and Chairperson of Drukair Board, Pema Choden, and Rémi Maillard, President of Airbus India and South Asia.

Deliveries starting from 2030 will support Drukair’s strategic expansion plans from its hubs at Paro International Airport and the upcoming Gelephu Mindfulness City (GMC) Airport. Both are set to boost connectivity to Europe, Southeast Asia, and Australia. Drukair currently operates three A319s and one A320neo. The new A320neo and A321XLR models will bolster efficiency, fleet network and capacity to meet the growing demand for international travel to and from Bhutan.

The order is pivotal in Bhutan’s vision of fostering economic development and His Majesty Jigme Khesar Namgyel Wangchuck’s vision to transform the Gelephu Mindfulness City, located in southern Bhutan, into a key economic hub.

“We are thrilled to formalise this purchase agreement with Airbus, marking a pivotal moment in Drukair’s journey to expand our international network. The addition of the A320neo and A321XLR aircraft not only enhances our fleet but also aligns with the visionary project of Gelephu Mindfulness City (GMC). These state-of-the-art aircraft will enable us to connect Bhutan with Europe, Southeast Asia, and Australia, reinforcing our commitment to innovation, sustainability, and operational excellence. This partnership with Airbus will serve as a cornerstone in fostering Bhutan’s economic growth and furthering His Majesty’s vision for GMC as a key economic hub,” said Tandi Wangchuk, Chief Executive Officer of Drukair.

“Bhutan is entering a new era with the Gelephu Mindfulness City and Airbus is proud to be a partner in this transformative initiative. The latest aircraft order is a reaffirmation of the Drukair leadership’s astute vision of a future for Bhutan that is aligned to its unique approach to economic development and environmental well-being. The A320neo and A321XLR will prove to be a bridge to connect Bhutan to the wider world, leveraging their unrivaled range, passenger comfort and economic efficiency”, said Rémi Maillard, President and Managing Director, Airbus India and South Asia.

Drukair, headquartered in Paro, Bhutan, operates scheduled flights to 10 international destinations and three domestic locations. The airline continues to be a key player in connecting Bhutan with the world, fostering tourism, and facilitating economic growth.

The A320neo, is part of the world’s most efficient single aisle Family, delivering over 20% fuel burn and 50% noise reductions compared to previous generation aircraft. The largest member of the Family, the A321XLR offers an Xtra Long Range of up to 4,700nm with 30% lower fuel burn per seat compared to previous generation aircraft. It promises enhanced passenger comfort with its new Airspace cabin, combining the benefits of a long-haul wide-body comfort with the efficiency of a single-aisle aircraft. Airbus has already secured more than 500 orders for the A321XLR.

Airbus’ A320 Family can operate with up to 50% Sustainable Aviation Fuel (SAF), and this will increase to up to 100% capability SAF by 2030. At the end of September 2024, the A321neo Family had sold over 6,700 aircraft to over 90 customers worldwide.

India Sees Second Highest Ransomware Attacks in APAC: Zscaler 2024 Report

Bangalore, INDIA, October 15, 2024 – Zscaler, Inc., the leader in cloud security, revealed in its annual Zscaler ThreatLabz 2024 Ransomware Report that India ranked second when it came to the volume of ransomware attacks successfully launched in the Asia Pacific and Japan region. This annual report analyzes the ransomware threat landscape from April 2023 to April 2024, tracking the latest attack trends, targeted sectors, ransomware families, and defense strategies.

Findings in the report uncovered an 18% overall increase in ransomware attacks year-over-year globally, as well as a record-breaking ransom payment of US$75 million – nearly double the highest publicly known ransomware payout – to the Dark Angels ransomware group. ThreatLabz believes Dark Angels’ success will drive other ransomware groups to use similar tactics, reinforcing the need for organizations to prioritize protection against rising and ever-more costly ransomware attacks.

“Ransomware defense remains a top priority for CISOs in 2024. The increasing use of ransomware-as-a-service models, along with numerous zero-day attacks on legacy systems, a rise in vishing attacks and the emergence of AI-powered attacks, has led to record breaking ransom payments,” said Deepen Desai, Chief Security Officer at Zscaler. “Organizations must prioritize Zero Trust architecture to strengthen their security posture against ransomware attacks. This is where an AI-powered Zero Trust platform like Zscaler helps organizations fast-track their segmentation journeys, reducing the blast radius as well as shutting down unknown vectors for future AI-driven attacks.”

India’s rapid digital transformation, coupled with widespread AI and machine learning adoption, has positioned the country as a prime target for sophisticated cyber threats. ThreatLabz observed nearly 1.3 billion (135%) more AI transactions in APJ than EMEA—largely driven by the high volume of transactions coming from India. The report reveals that ransomware extortion attacks have consistently surged across industries, with the number of victim companies listed on data leak sites increasing by nearly 58% since last year.

While the manufacturing sector remains the most targeted in India, accounting for 28.89% of attacks, other industries such as healthcare (8.9%), technology (6.67%), pharmaceutical (6.67%), and financial services (8.9%) also faced significant risks. The report also highlighted the rise in AI-powered cyberattacks, emphasizing the importance of Zero Trust architecture to combat evolving threats.

Despite the global surge in ransomware, India remained relatively flat in terms of growth in successful ransomware attacks – from logging 62 incidents in 2023 to 60 in 2024. However, ransomware attacks still remain a cause of concern, with vulnerabilities continuing to grow in light of the rising adoption of AI-driven attack vectors by threat actors.

“India is at the forefront of digital transformation – leading the way on a global platform when it comes to the adoption of emerging technologies, such as AI/ML, to drive innovation. However, its successes have also drawn the attention of threat actors, making it a prime target for sophisticated cyber threats, including ransomware attacks. With the government’s increased focus on driving cybersecurity resilience, it is more crucial than ever for Indian enterprises to adopt zero trust security frameworks,” said Suvabrata Sinha, CISO in residence, India at Zscaler. “Our AI-powered zero trust platform is designed to mitigate risks, protect sensitive data, and ensure business continuity in an increasingly hostile cyber environment. By prioritizing zero trust, Indian businesses can better protect their digital assets, align with the government’s initiatives, and maintain resilience against emerging cyber threats.”

ThreatLabz also identified the most active ransomware families in India, with LockBit leading at 23.33%, followed by BianLian at 16.67%, BlackCat (11.67%), 8Base (10%), and Mallox (5%). Globally, LockBit (22%), BlackCat (9%), and 8Base (8%) remain the top threats, with emerging groups like Dark Angels expected to drive future attacks.

Zscaler remains committed to helping organizations minimize their attack surface, prevent initial compromises, eliminate lateral movement, and stop data loss through its Zero Trust Exchange™ platform. This AI-powered platform is designed to mitigate risks, protect sensitive data, and ensure business continuity in an increasingly hostile cyber environment.

Zscaler helps enterprises stop ransomware with zero trust security

From initial reconnaissance and compromise to lateral movement, data theft and payload execution, Zscaler helps organizations stop ransomware at every stage of the attack cycle:

· Minimize the attack surface: Zscaler effectively minimizes the attack surface by hiding users, applications and devices behind a cloud proxy, where they are not visible or discoverable from the internet.

· Prevent initial compromise: The Zscaler Zero Trust Exchange employs extensive TLS/SSL inspection, browser isolation, advanced inline sandboxing and policy-driven access controls to prevent users from accessing malicious websites as well as detect unknown threats before they reach your network.

· Eliminate lateral movement: Leverage user-to-app or app-to-app segmentation so that users connect directly to applications (and apps to other apps), not the network, eliminating the risk of lateral movement.

· Stop data loss: Inline data loss prevention measures, combined with full TLS/SSL inspection, effectively thwart data theft attempts. Zscaler ensures that data is secured both in transit and at rest.

For a deeper dive into best practices for protecting your organization and the full findings, download the Zscaler ThreatLabz 2024 Ransomware Report.

Methodology

The research methodology for this report is a comprehensive process that uses multiple data sources to identify and track ransomware trends. The report team collected data from a variety of sources between April 2023 and April 2024.

To identify and understand ransomware activity, Zscaler utilizes its global security cloud processing over 500 trillion daily signals, blocking 9 billion threats daily, and delivering 250,000+ security updates. The ThreatLabz Threat Intelligence team tracks ransomware families at scale through reverse engineering and automating malware analysis to develop effective response strategies. ThreatLabz also works closely with international law enforcement agencies and has played a significant role in recent actions, including Operation Duck Hunt and Operation Endgame.

CMD, IREDA Outlines Path to Achieving India’s Energy Transition Goals by 2047 at CEA Conclave

New Delhi, 15th October 2024

Shri Pradip Kumar Das, Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA), participated in two panel discussions today at the Brainstorming Conclave organized by the Central Electricity Authority (CEA). The conclave focused on shaping the “Indian Power Sector Scenario by 2047,” where CMD addressed the topics of “Financing the Energy Transition by 2047” and “Capacity Planning and Regulatory Framework for Renewable Energy by 2047.”

During the discussion, Shri Das underscored IREDA’s leading role in promoting and making innovative renewable energy technologies such as Ethanol, Electric Mobility, Battery Storage, Pumped Storage, Floating Solar, Green Hydrogen, and Green Ammonia- financially viable. He emphasized the importance of adopting the “DAS” principle: Discipline of investors, Attitude of lenders, and Simplification of policies by Central and State Governments, as well as regulatory bodies like RBI and SEBI, etc. This approach has allowed IREDA to significantly contribute to the Government of India’s target of achieving 500 GW of non-fossil fuel energy by 2030.

Discussing the ‘Green Taxonomy,’ Shri Das called for a clear definition of renewable technologies as “Green,” which would encourage investor confidence and direct climate finance to genuinely green projects. He emphasized that this alignment with international standards would further strengthen India’s renewable sector.

Shri Das also highlighted that according to a broad estimate, India will require approximately ₹285-345 lakh crore investment by 2047 to achieve energy independence. Therefore, substantial business opportunities are available in renewable energy financing for IREDA and other companies.

With a dedicated, wholly-owned subsidiary, IREDA aims to expand its services in the retail renewable energy market B2C segment, including Small and Medium Enterprises (SMEs), MSMEs, and Start-Ups. This will support the financial ecosystem needed for a sustainable renewable energy future. By extending its expertise in renewable energy finance to the retail market, IREDA will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon footprints.

YES SECURITIES aims to boost income of 800 farmers via CSR initiative

Mumbai – October, 15, 2024: YES SECURITIES, a leading financial services firm, has laid the groundwork for a pulses unit through its implementing partner – YES FOUNDATION in Barwani district, Madhya Pradesh, as part of its ongoing Corporate Social Responsibility (CSR) initiative. This project will benefit 800 small and marginal tribal farmers from 8 villages, focusing on rural development, sustainable farming, and empowering women self-help groups (SHGs) to enhance livelihoods and foster long-term agricultural sustainability. It also aims to double the annual baseline income for participating farmers through high-value crop cultivation.

In addition to the pulses unit, YES SECURITIES has expanded its Solar Irrigation Unit Plus to improve access to sustainable farming practices and irrigation solutions. The CSR initiative seeks to promote high-value agriculture, introducing farmers to climate-resilient crops such as creeper and non-creeper vegetables, as well as cereal and pulses cultivation.

The project focuses on improving farm productivity and sustainability through several key interventions. These include raising awareness, providing orientation, and training farmers on climate-resilient practices, along with capacity building. High-value crops such as creeper and non-creeper vegetables are introduced, accompanied by technical knowledge on Package of Practices. Productivity enhancement is targeted through the cultivation of cereals, minor millets, and pulses, while irrigation resources are developed through well repair, deepening, and strengthening, alongside the promotion of micro-irrigation techniques.

Mr. Anshul Arzare, MD & CEO, YES SECURITIES said “We are committed to driving meaningful change in rural communities by empowering women and promoting sustainable farming practices,” Further he added, “Through initiatives like the Solar Irrigation Unit Plus and the women-led pulses unit, we aim to address key challenges such as income instability and climate resilience, ensuring long-term prosperity for farmers in Barwani.”

This initiative is the empowerment of rural women through the establishment of the pulses unit, which will be operated by local women SHGs. This step not only fosters financial independence but also encourages active participation in high-value agriculture, offering new economic opportunities for women in the region.

Through its ongoing CSR efforts, YES SECURITIES continues to play a crucial role in fostering inclusive and sustainable development, ensuring that communities in rural Madhya Pradesh can thrive economically and socially.

Bharat Soka Gakkai Launches ‘BSG Plastic Collection Drive’ in Mumbai to Combat Plastic Pollution

Mumbai, India; October 15, 2024:
In a proactive response to the escalating crisis of plastic pollution, Bharat Soka Gakkai (BSG) has launched the ‘BSG Plastic Collection Drive’ in Mumbai as part of its ongoing ‘Say No to Plastic’ initiative. This impactful campaign, aimed at reducing plastic waste and encouraging sustainable human behaviour, will run from October 14th to 20th, 2024.

 During this period, BSG members across Mumbai will deposit plastic waste at designated local hubs, where recycling vans will collect it for proper processing and recycling. By promoting responsible consumption and recycling, the campaign seeks to both reduce plastic waste and raise awareness of sustainable practices.

 The ambitious goal is to collect and recycle 10,000 kilograms of plastic waste, inspiring widespread awareness and meaningful action. The drive aims to galvanize individuals to adopt ‘Sustainable Human Behaviour’ by reducing their plastic use, making environmentally conscious choices, and contributing to the fight against plastic pollution in their daily lives.

 At the launch event on October 14, 2024, held in Mumbai, renowned Climate Innovator Ms. Prachi Shevgaonkar, Founder of the Cool the Globe app, delivered the keynote address. She highlighted the pressing issue of plastic pollution and climate change, stating, “At Cool The Globe, we are on a mission to make climate action easy and measurable for citizens and organisations. We believe that when people unite for climate action, miracles can happen!”

 Mr. Vishesh Gupta, Chairperson of Bharat Soka Gakkai, expressed his commitment to sustainability, urging everyone to actively participate in this campaign. “We are not just collecting plastic; we are creating a movement that inspires long-lasting change. Every effort counts, and together, we can build a future where our planet thrives.”, Mr. Gupta remarked.

Luxriot Expands India Presence with Strategic Focus on Security and Surveillance Solutions

India, 15.10.2024 – Luxriot, a global leader in Video Management Software (VMS) solutions, today announced its entry in India as part of its strategic expansion into high-growth markets. The company aims to deliver cutting-edge surveillance technologies tailored to both public and private sectors, addressing the specific security challenges faced by Indian industries.

Luxriot’s expansion strategy includes significant investment in local partnerships. The company plans to empower Indian system integrators with technical support and comprehensive training, equipping them to leverage Luxriot’s solutions for industry-specific challenges. These collaborations are integral to localizing Luxriot’s offerings and ensuring they are adapted to meet the unique needs of Indian businesses.

“As we expand into the Indian market, we are committed to bringing tailored security solutions that address the specific needs of industries here. India’s rapid growth across key sectors such as manufacturing, energy, and retail presents a unique opportunity for us to deliver advanced, scalable technologies that enhance security infrastructure. We look forward to working closely with local partners to create solutions that not only meet today’s challenges but also drive innovation for the future”, said Orestis Demetriades, President, Luxriot.

Luxriot’s offerings embodies an intelligent and proactive approach to video and data management that seamlessly integrates with existing security systems, enabling businesses to achieve a ‘single pane of glass’ environment that allows for streamlined collaboration between legacy systems and Luxriot’s innovative solutions. By adopting this approach, Indian businesses can protect critical infrastructure, optimize security operations, and reduce the costs associated with upgrading older technologies.

“We recognize the immense potential India offers, especially in sectors where IoT and AI-driven surveillance solutions are increasingly critical,” said Mr. Sandesh Kaup, Director, Luxriot India. “Our commitment is to help Indian industries enhance their security infrastructure through the combination of our global expertise and localized support.”

Luxriot’s expansion into India focuses on providing sector-specific solutions, targeting industries such as manufacturing, pharmaceuticals, IT and technology, automotive, energy, and retail. These sectors, often managing high-value assets, can benefit significantly from Luxriot’s scalable technology, which meets diverse security requirements. In manufacturing, for example, robust surveillance is critical to securing production lines, while in the energy sector, the protection of critical infrastructure is paramount.

Supporting India’s Smart City Initiatives

Luxriot’s entry aligns closely with India’s Smart City initiatives, with the company offering advanced surveillance solutions to address urban safety, manage traffic, and secure transportation hubs. With its initiatives towards real-time awareness and response management, supporting law enforcement, prison security, retail safety, and construction site surveillance through AI-powered video analytics and IoT integration, Luxriot aims to revolutionize the security landscape in India.

Vitaly Bondarenko, Chief Technology Officer, Luxriot said, “our focus is on integrating cutting-edge AI and IoT technologies into surveillance systems to help Indian businesses improve operational efficiency and security. By offering a flexible and comprehensive platform, we aim to enable companies to unify their data and video management seamlessly. We are eager to contribute to India’s diverse industries, from public safety to energy, through our adaptable approach to solving complex security challenges with intelligent solutions.

By supporting widely used protocols such as Modbus, MQTT, and OPC, we enable businesses to streamline processes like building management, SCADA operations, and video analytics. Our technology is especially valuable in addressing the complex challenges faced in sectors such as public safety, industrial, oil and gas, and energy,” Vitaly added.

As the landscape of security continues to evolve, Luxriot remains committed to bringing innovative, AI-driven solutions to India’s surveillance ecosystem. The company’s integration of AI, IoT, and big data into its VMS platform positions Luxriot to meet the rising demand for advanced security solutions across a range of sectors. From public safety to critical infrastructure, Luxriot is poised to play a key role in shaping the future of surveillance in India.

Wooden Street Expands Its Presence with 101st Store in Lucknow

Wooden Street, India’s leading furniture brand, announces the grand opening of its 101st store, in the vibrant city of Lucknow. This exciting expansion comes just a week after the company celebrated a major milestone with the opening of its 100th store in Udaipur.

The new store in the “City of Nawabs’ spans across an area of 4000 Sq Ft, and is opened on the third floor in Phoenix Mall, Lucknow. This is the second store of the brand in Lucknow, with the first store located at Gomti Nagar.

The new launch is set to offer the same premium shopping experience that Wooden Street is renowned for. With its wide array of furniture and home décor options, the store will showcase the brand’s hallmark blend of premium quality & designer products.

Lucknow, known for its rich cultural heritage and fast-growing urban lifestyle, is the perfect city for Wooden Street’s latest expansion. The new store will meet the increasing demand for high-quality furniture that seamlessly blends modern aesthetics with traditional craftsmanship.

Speaking on the occasion, Lokendra Ranawat, CEO of Wooden Street, said, “We are excited to open our second store in Lucknow, marking our 101st store in India. After witnessing the success of our Gomti Nagar outlet, it was clear that expanding to another prime location in the city is the right step.
This expansion signifies not just growth, but also our commitment to bringing world-class furniture to homes across India. Our store in Lucknow promises to offer our customers a unique experience, helping them transform their living spaces with elegance and style.”

Wooden Street has witnessed remarkable growth since its inception, with a strong online presence complemented by a network of 101 physical stores across the country. Each new store marks another step towards fulfilling the brand’s mission of making premium furniture accessible to every corner of India.

The brand plans to continue its expansion with a goal to open even more stores in the coming years, further increasing its footprint in both metro and tier-2 cities.

Founded in 2015, the company is backed by leading investors and has secured approximately $35 million in funding till date. Operating seamlessly across both online and offline channels, the company has 101 experience stores, 20+ warehouses, and a 15 lakh sq ft manufacturing facility spread across India,

Wooden Street has brought 1 million dream homes to life with a wide range of over 30,000 furniture, home decor and furnishing products.

The brand is synonymous with quality, innovation, and customer-centricity, making it a preferred choice for designer furniture at affordable costs that makes a statement.

Industrial & Logistics Sector Captures 67% of PE Investments in H1 FY25 – ANAROCK Capital

Mumbai, 15 October 2024 – Private equity investments witnessed a 4% decline in the first half of FY25, primarily due to reduced investments in the offices sector. The total number of deals also declined from 24 (1H FY24) to 17 (1H FY25).

Shobhit Agarwal, MD & CEO – ANAROCK Capital, says, “Private equity investments in offices are primarily driven by foreign investors, which have tapered down due to global factors such as geopolitical tensions and elevated interest rates. However, the aggregate numbers and the dominance of foreign investors in Indian real estate remained largely stable due to the ADIA/KKR investment in the Reliance Retail warehousing assets.”

 Average Ticket Size

The average deal size has risen by 23% year-on-year, primarily driven by the Reliance-ADIA/KKR warehousing deal which accounts for 67% of the total investments made in the first half of FY25. Additionally, the number of deals has decreased by 29%, contributing to the increase in the average ticket size.

Top 10 PE Deals

Share of top PE deal – approx. 67% of total deals in 1H FY25:

• Buyers – Abu Dhabi Investment Authority (ADIA) & KKR
• Seller – Reliance Logistics & Warehouse Holdings
• Assets – Warehouses at multiple locations
• Deal Size – US$ 1.54 Bn

• Residential real estate accounted for 15% of transactions among the top 10 private equity deals. In comparison, the same period last year saw only about 4% of debt transactions in residential real estate within the top 10 deals.
• The Reliance-ADIA/KKR deal is a hybrid transaction, comprising 55% through senior debt, 41% via subordinated NCDs/quasi-equity, and the remainder through equity infusion.

Share of Top 10 PE Deals (YoY)

The top 10 PE deals accounted for 97% of the total value of PE investments in 1H FY25 as compared to 93% in 1H FY24. 

Movement of Capital Flow

In H1 of FY25, the Reliance-ADIA/KKR multi-city deal took the lead. Hyderabad topped the transaction league tables for city-specific deals, attracting investments of USD 284 million during this period. While Hyderabad’s share of investments increased, Mumbai’s share fell to 9%, down from 23% in the same period last year.

Equity vs Debt Funding

During H1 FY25, pure debt and equity transactions were less prominent and overshadowed by the Reliance – ADIA / KKR deal. As reported, this transaction includes a mix of senior debt, quasi-equity or subordinate debt, and equity infusion. 

Domestic vs Foreign Funding

Domestic and foreign investors upheld the same funding proportions as in the first half of the previous year, reflecting the continued dominance of foreign investors in Indian real estate investments.

Asset Class-wise Funding

H1 FY25 saw the industrial and logistics sector capture 67% of the total investments, significantly surpassing both the office and residential sectors (which attracted 17% each). While private equity investments in the office sector declined by 79%, the industrial and logistics sector saw a substantial 378% increase in investments compared to the same period in the previous financial year. 

Sectoral Insights

• Residential Sector – “The share of private equity investment in the residential sector has risen to 17%, up from 8% in the same period last year, reflecting increased activity in this segment,” says Aashiesh Agarwaal, SVP (Investment Advisory) ANAROCK Capital. “However, stronger pre-sales and higher participation from PSU banks in construction finance are likely to reduce demand for high-cost financing from private equity. PE will need to target earlier stages of project life cycles to maintain the IRRs, or to deploy into special situations investments.
• Commercial Office Sector – The commercial office sector has long been a favoured choice for private equity investments; however, geopolitical tensions and rising interest rates could significantly impact these investments.

“Despite challenging global conditions, the office leasing market showed a strong performance this quarter, primarily fuelled by Global Capital Centres (GCCs) and flexible workspace solutions,” says Shobhit Agarwal. “Easing interest rates can revive investor interest in the segment.”

• Industrial & Logistics Sector – The industrial and logistics sector continues to attract investors thanks to robust growth driven by manufacturing, ecommerce, consumption, and 3PL. This trend is being accentuated by a shift from Grade B properties to Grade A options due to a growing emphasis on quality, large formats, and ESG considerations. The interest in warehouses remains high, with steady supply of investment-grade properties and healthy demand institutional and HNI investors.