Category Archives: News

Wockhardt Hospitals Trains Ganesh Mandal Volunteers in BLS and CPR to Save Lives

Mumbai, September 2024 – Wockhardt Hospitals, Mumbai Central, is excited to announce a crucial new initiative: a CPR (Cardiopulmonary Resuscitation) training program for Ganesh Mandal volunteers. This program is set to launch in honor of World Heart Day and aims to enhance emergency response skills among those who play a vital role in organizing the Ganesh Chaturthi celebrations.

 Ganesh Mandals, which oversee the vibrant and highly attended Ganesh Chaturthi festivities, are integral to managing large crowds that may experience medical emergencies. To address these potential challenges, Wockhardt Hospitals has developed a specialized curriculum. The training will cover fundamental CPR techniques, including chest compressions, rescue breaths, and the use of automated external defibrillators (AEDs).

 The training sessions will involve interactive demonstrations and scenario-based exercises to ensure that volunteers feel confident and prepared to act swiftly in emergencies. This initiative is part of Wockhardt Hospitals’ broader commitment to community health and emergency preparedness. By equipping these volunteers with life-saving skills, we aim to create a safer environment for the Ganesh Chaturthi events and other public gatherings.

The initial training will be conducted for volunteers from the following Ganesh Mandals:

• Lalbaug Sarvajanik Ganeshotsav Mandal, Ganesh Galli, Mumbai
• Tejukaya Sarvajanik Utsav Mandal
• Chintamani Sarvajanik Utsav Mandal
• Paral Vibhag Sarvajanik Ganeshotsav Mandal

 Wockhardt Hospitals will also extend this vital training to additional locations, including Fortcha Ichhapurti, Fort, Rangari Badak Chawl Rahivashi Sangh, Ganeshotsav Mandal, Chinch Bandar-Dongari Sarvajanik Ganeshotsav Mandal, and Umarkhadi Sarvajanik Ganeshotsav aani Navratrotsav Mandal.

Dr. Parin Sangoi, Consultant Interventional Cardiologist at Wockhardt Hospitals Mumbai Central, stated, “As we observe World Heart Day, our initiative, ‘Raise the Trainer,’ underscores the importance of empowering community volunteers with life-saving skills. Training Ganesh Mandal volunteers in CPR is a proactive step towards ensuring that they are equipped to handle emergencies effectively. This not only enhances their readiness but also promotes a culture of safety and preparedness throughout the community. We urge all Ganesh Mandal volunteers to participate in this valuable program and help us make a significant impact on public health and safety.”

Dr. Virendra Chauhan, Centre Head at Wockhardt Hospitals Mumbai Central, stated, “On the occasion of World Heart Day, our program, ‘Raise the Trainer,’ is designed to empower Ganesh Mandal volunteers with critical life-saving skills. We believe this training will not only enhance their ability to manage emergencies but also foster a culture of safety and preparedness within the community. We encourage all Ganesh Mandal volunteers to participate in this important initiative and contribute to public health and safety.”

The CPR training program is set to commence in the coming weeks, and Wockhardt Hospitals is eager to begin this significant partnership with the Ganesh Mandals.

For more information about the program and how to get involved, please contact Wockhardt Hospitals Mumbai Central.

The Delhi School of Communication Marks 29th Anniversary with a Visit to Amar Jyoti Charitable Trust

New Delhi, September 5th, 2024 – The Delhi School of Communication (DSC) celebrated its 29th anniversary with a heartwarming event at the Amar Jyoti Charitable Trust. Founded on Teachers’ Day, 1995, DSC has been a pioneer in Integrated Marketing Communications, empowering students to become the powerful communication leaders of tomorrow.
This year’s anniversary celebration was made even more special as the entire DSC fraternity spent the day with the students from the trust, engaging in storytelling in its myriad forms. DSC students had the unique opportunity to participate in sessions of dance, music, art, and games, creating an environment of shared learning and joy.

The day began with a warm welcome from Amar Jyoti’s students, who showcased their talent with an inspiring dance performance. The event also featured a friendly basketball match, fostering camaraderie and emphasizing the spirit of inclusion. The interactions between students from both institutions highlighted the value of mutual respect and understanding.

The faculty of DSC were deeply moved by Amar Jyoti’s commitment to empowering students with diverse abilities through education and skill development. These interactions served as a reminder of the powerful impact of community engagement and the importance of fostering an environment where all individuals are valued.

Professor Ramola Kumar, Dean of DSC, shared her thoughts, saying, “This experience has been immensely enriching for our students, offering them a deeper understanding of compassion, inclusivity, and empathy.”

Seema Tuli, Principal and Director of Amar Jyoti Charitable Trust, expressed her appreciation, saying, “We are grateful for the opportunity to share this special day with the students of DSC. Their presence and interactions have fostered mutual growth and confidence, inspiring our students as they continue to pursue their goals and aspirations.”

The celebration concluded with a shared sense of fulfillment, as both institutions expressed a desire to continue this meaningful collaboration. The event underscored the importance of compassion and the impact of small, thoughtful interactions in fostering a more inclusive society.

Seasonal Hiring to Surge This Festive Season: Tier 2 & 3 Cities at the Forefront, Says Indeed

Bengaluru, 5^th September 2024: As India gears up for the festive season, businesses across the country are ramping up their hiring efforts. Data from Indeed, the global matching and hiring platform, indicates a projected 20% increase in seasonal jobs compared to last year. The demand is not just rising in the metros, but Tier 2 and 3 cities are now emerging as the real engines of growth, according to the latest Indeed data.

The Geographic Shift: Tier 2 & 3 Cities Rise

In major metros like Mumbai, Bengaluru, Chennai, Delhi, and Kolkata, there is an 18-20% increase compared to the previous year. Meanwhile, Tier 2 and 3 cities such as Nagpur, Jaipur, Vadodara, Kochi, Vizag, Madurai, Lucknow, Gurugram, Chandigarh, Indore, Coimbatore, Surat, Bhubaneswar, and Bhopal are experiencing an even higher surge, with a 22-25% increase in hiring.

This growth reflects several factors driving demand in smaller cities. As companies look to expand their market reach and tap into new customer bases, they are increasingly focusing on Tier 2 and 3 cities, where consumer spending is rising due to improving economic conditions and growing disposable incomes. Additionally, the increased internet penetration and digital adoption in these regions have enabled e-commerce, retail, and logistics companies to drive better customer experiences, creating more demand for a flexible workforce that can handle seasonal spikes in activity.

Top 5 Job Roles in Demand this Festive Season:

Indeed’s data reveals the top five roles expected to see the highest increase in hiring this festive season:

Note: The percentages provided denote the expected increase in hiring for specific temporary and gig job roles in India during the festive season, compared to previous quarters.

Sashi Kumar, Head of Sales, Indeed India said, “The increased hiring in tier 2 regions recognizes the untapped potential of these markets. The festive season is a crucial period for businesses across India, and we’re seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand. The industries that are growing—e-commerce, logistics, quick commerce—are doing so because they’re aligned with the needs and behaviours of today’s consumers. This is where the future of India’s job market could be heading.”

Industries Driving Seasonal Job Postings

Several industries are showing a marked increase in demand for seasonal workers compared to the previous year:

E-commerce leads the trend with a 35% increase in demand, fueled by the rapid growth of online shopping and a need for more delivery executives and warehouse staff to manage higher order volumes and ensure timely deliveries. Logistics follows, as companies ramp up their workforce to support the increased transportation, warehousing, and delivery activities necessary for a smooth supply chain.

The retail sector is also experiencing a boost in hiring to handle increased foot traffic and enhance customer engagement, particularly for in-store sales executives and customer care representatives. Similarly, quick commerce shows an 11% rise in demand for delivery personnel and fulfillment staff, reflecting the growing consumer preference for ultra-fast delivery services.

In the BFSI sector, the need for customer service roles and sales executives is rising due to greater demand for financial products. Consumer products are scaling up to manage higher production and distribution needs. Meanwhile, tourism and hospitality are adding staff to accommodate the renewed interest in travel, and manufacturing is bolstering its workforce to maintain production levels and manage supply chains efficiently during the festive period.

Methodology
This survey was conducted by Valuvox on behalf of Indeed among 1,137 employers and 2,543 jobseekers and employees. The respondents were segregated into 9 cities and further categorized into large, medium, and small organizations and sectors.

Disclaimer: The information in this press release is provided for general informational purposes only. All content is accurate as of the date of publication but may be subject to change. The company assumes no responsibility for any errors or omissions, and all opinions expressed are those of the author.

Indian School of Business and Indian Institute of Management-Ahmedabad feature on the LinkedIn Top MBA list for 2024

India, September 05, 2024: To help professionals develop their skills and expand their career opportunities, LinkedIn, the world’s largest professional network, has launched a list of Top 20 MBA Programs to help professionals identify the top business schools to grow their careers.

The Indian School of Business and the Indian Institute of Management, Ahmedabad have been ranked among the Top 20. Stanford University, leads the global list, followed by Institut Européen d’Administration des Affaires (INSEAD), France and Harvard University, USA, at second and third rank, respectively. The list evaluates each program on five key pillars including Job Placement, Ability to Advance, Network Strength, Leadership Potential and Gender Diversity to determine the ones that best set their alumni up for long-term career success.

Nirajita Banerjee, Senior Managing Editor and Career Expert, LinkedIn News India, said ”An MBA can be a powerful tool for professionals looking to accelerate their careers, whether they’re aiming for leadership roles, exploring new industries, or even starting their own business. Beyond earning a degree, it’s a chance to hone key in-demand soft skills like strategic thinking, leadership, and problem-solving – all while building connections that can open doors to new opportunities long after graduation. LinkedIn’s Top MBA list aims to help aspiring professionals find the right fit, making their investment truly impactful by connecting them to the programs that can best help them achieve their career goals.“

LinkedIn has also announced the top 10 MBA programs for network-building capabilities, with a significant presence of Indian institutions. Eight out of the top 10 globally recognized for their networking prowess are based in India. The Indian Institute of Foreign Trade leads the list at #1, followed by the Indian Institute of Management, Indore at #2, and the Indian Institute of Management, Lucknow at #3), highlighting the significant role Indian institutions play in fostering valuable professional connections.

Here are tips from Nirajita on how professionals pursuing an MBA can boost their career prospects:

1. Network, network, network. Meet everyone you can, attend school events, build your LinkedIn network as you go (add people as you meet them).
2. Hone your key human skills – teamwork, collaboration, communication. Business school is all about the team projects, giving you a great chance to build your leadership and collaboration skills.
3. Start posting on LinkedIn sharing your learnings during your course and case study exercises on any business topic you are passionate about. This can help you grow your network and build your brand.
4. Think about what you might want to do post-MBA. If there’s a role you have in mind, look at the skills needed for that role and make sure you’re building those skills during the program addressing them in your studies.
5. Participate in club events, pitch events and case competitions. There are great opportunities to build your presentation and persuasion skills, and performing well in these events can be a feather in your cap when applying for jobs or starting a new company.
6. Look for internships, jobs, or campus leadership roles you can take on while you’re going through your program, which can help set you up for having stronger job prospects as you near graduation.

Methodology: 

The ranking, published by LinkedIn News, is determined by a carefully weighted methodology analysing the career outcomes of millions of MBA alumni, globally. The Top MBA Programs methodology is based exclusively on LinkedIn data and five key pillars:

• Job placement tracks hiring rates and labour market demand, measuring the percentage of recent graduate cohorts from 2019-2023 who landed a full-time job within the same year of graduation, in addition to recruiter outreach across recent cohorts at each program.
• Ability to advance measures promotion rates among recent graduate cohorts, in addition to how quickly alumni have reached director or VP-level leadership roles.
• Network strength measures network depth, or how connected alumni of the same program are to each other; network quality of recent graduate cohorts, measured by connections to director-level professionals or higher; and the network growth rate of recent cohorts since starting the program.
• Leadership potential measures the percentage of alumni with post-MBA C-Suite or entrepreneurship experiences.
• Gender Diversity measures gender parity within recent graduate cohorts.

Palo Alto Networks Closes Acquisition of IBM’s QRadar SaaS Assets

India, Mumbai – 5 September 2024 — Palo Alto Networks, the global cybersecurity leader, today announced that it has completed the acquisition of IBM’s QRadar Software as a Service (SaaS) assets. This transaction underscores Palo Alto Networks and IBM’s commitment to secure customers with best-in-class threat prevention, addressing ever-expanding attack surfaces with the complete platform approach that is required to simplify security operations.

Palo Alto Networks Precision AI™-powered Cortex XSIAM® platform centralizes data and security operations capabilities that include SIEM, SOAR, ASM and XDR into a single platform to drastically streamline security operations and prevent threats at scale. Together, Palo Alto Networks and IBM, as a preferred managed security services provider, will help global customers across industries seize the opportunity to seamlessly shift from QRadar to Cortex XSIAM with no-cost migration services through IBM Consulting for eligible customers.

In addition, IBM has furthered its internal deployment of Palo Alto Networks security platforms with the deployment of Cortex XSIAM for its own next-gen security operations, and Prisma SASE 3.0 for zero-trust network security to safeguard more than 250,000 of its global workforce. IBM’s adoption of these marquee technologies is an example of how customers can benefit from the streamlined operations of products across the Palo Alto Networks portfolio. Further, Palo Alto Networks will deploy IBM solutions, including watsonx AI and data platform, to drive additional AI and automation capabilities.

Nikesh Arora, Chairman and CEO, Palo Alto Networks:

“We are on a mission to help organizations transform their security operations and harness the potential of Precision AI-powered platforms to better protect their businesses. Our partnership with IBM reinforces our commitment to innovation and our conviction in the tremendous benefit of QRadar customers adopting Cortex XSIAM for a robust, data-driven security platform that offers transformative efficiency and effectiveness in defending against evolving cyber threats.”

Arvind Krishna, Chairman and CEO, IBM:

“Together, IBM and Palo Alto Networks are shaping the future of cybersecurity for our customers and the industry at large. Working with Palo Alto Networks will be a strategic advantage for IBM as our two companies partner on advanced threat protection, response, and security operations using Cortex XSIAM and watsonx, backed by IBM Consulting. At the same time, IBM will continue innovating to help secure organizations’ hybrid cloud environments and AI initiatives, focusing our investments on data security and identity and access management technologies.”

Dave Gruber, Principal Cybersecurity Analyst, Enterprise Strategy Group:

“Vendors like Palo Alto Networks are delivering out-of-the-box, consolidated security operations capabilities, enabling security teams to rapidly accelerate improved outcomes while reducing complexity involved in managing a siloed security technology stack. As Palo Alto Networks completes the acquisition of the Q-Radar assets, Q-Radar customers will now have a simplified path to modernizing security operations with XSIAM.”

Benefits to Customers:

Seamless Migration: Palo Alto Networks, alongside IBM Consulting and its team of security experts, will offer free migration services to eligible customers, ensuring a smooth transition to the Cortex XSIAM platform while retaining existing best practices and know-how.

 Enhanced Security Operations: Cortex XSIAM integrates multiple SOC tools into a Precision AI-powered platform, going beyond SIEM capabilities to provide comprehensive functionality, including SOAR, ASM and XDR, TIP, CDR, and ITDR. Its automation capabilities significantly reduce manual workload for SOCs, enabling more effective threat response.

 Advanced Analytics and Automation: Cortex XSIAM collects, normalizes, and analyzes security data in near real-time, automatically consolidating alerts into a reduced number of high-priority incidents. Precision AI-powered analytics and native automation increase accuracy and reduce incidents requiring human intervention.

 IBM Consulting Platform Support: Palo Alto Networks and IBM will offer immersive experiences for customers that are interested in adopting Palo Alto Networks security platformization, and IBM is training more than 1,000 consultants on Palo Alto Networks security solutions to help enterprises leverage the benefits of its network, cloud, and security operations platforms.

 On-Premises Customer Continuity: QRadar clients who wish to remain on QRadar on-prem will continue to receive IBM features and support, including security, usability and critical bug fixes, as well as updates to existing connectors and the ability to expand consumption. QRadar SaaS customers will continue on their current deployment, ensuring uninterrupted customer service and support until they are ready to move to Cortex XSIAM.

Nazara Technologies partners with Government of Telangana to Launch Nazara AI Center of Excellence

India, September 5, 2024 — Nazara Technologies, India’s leading and only listed diversified gaming and esports company, has signed a landmark Memorandum of Understanding (MoU) with the Government of Telangana. Through this strategic partnership Nazara aims to establish a pioneering AI Center of Excellence (AI CoE) focusing on gaming and digital entertainment, positioning Nazara as a leader in AI-driven gaming and digital entertainment space and Telangana as a global hub for AI innovation.

The Nazara AI CoE will drive research, development, and innovation in areas such as gaming, interactive media, gamified learning, and other digital content, leveraging cutting-edge technologies like AI, VR/AR, blockchain, and Web 3.0. By fostering policy development, supporting startups, enhancing skills, and engaging global expertise, the Nazara AI Center of Excellence aims to empower a dynamic and inclusive community

Nitish Mittersain, Jt. MD & CEO, Nazara Technologies, said: “Telangana’s proactive approach in fostering industry growth through public-private partnerships and policy development has created the ideal ecosystem for this initiative. This collaboration will enable Nazara to further our mission of integrating AI and emerging technologies across our diverse portfolio, positioning us as a leader in AI-driven innovations in gaming and digital entertainment.”

Hon’ble Minister for Information Technology and Industries, Mr. D. Sridhar Babu, said: “This partnership with Nazara Technologies, a leader in Indian gaming, marks a significant step in positioning Telangana as a global leader in AI-driven digital innovation. The Nazara AI CoE will empower startups, enhance skills, and attract cutting-edge technology investments, creating a diverse and dynamic ecosystem. By joining forces with Nazara, we are committed to driving economic growth and setting new standards in responsible AI applications in gaming and beyond.”

Unicommerce Powers HealthKart’s E-commerce Operations

5th September 2024, New Delhi: Omnichannel nutrition products retailer Bright Lifecare Private Limited, operating under the brand name HealthKart, has partnered with Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, to strengthen its e-commerce supply chain in multiple ways.

Healthkart has adopted Unicommerce’s Multi-channel Order Management and Warehouse Management Solutions to automate order processing and fulfillment through its own website and across multiple marketplaces for its nutritional products under brand names including MuscleBlaze, Gritzo, and HK Vitals.

It will also use Unicommerce’s Seller Management Panel to enable 400+ sellers on the Healthkart marketplace to fulfill orders directly from their respective location. The seller management panel facilitates HealthKart with a diverse range of sellers and vendors, expanding the product catalog for their platforms. This enables HealthKart to maximize sales while orders are fulfilled directly from the seller’s location, resulting in significant cost and resource savings.

Utilizing Unicommerce’s comprehensive suite of technology solutions, HealthKart is enabling different aspects of its e-commerce operations highlighting the growing importance of technology for a business.

Talking about its partnership, Siddharth Jain, Senior Vice President at HealthKart said, “We are a new-age brand with technology at our core. As the demand for health and fitness products continue to grow among Indian consumers, we are focused on embedding best-in-class technology solutions to enhance the experience and efficiency for our buyers, vendors and others users”

“Health & Fitness have become a prominent e-commerce segment and we are excited to be a part of HealthKart’s growth journey as their technology provider.” said Kapil Makhija, MD & CEO of Unicommerce.

As of Q1 2025, Unicommerce serves 3600+ clients including D2C brands, retail and e-commerce companies as well as logistics provider firms. With 250+ technology & partner integrations, the company has achieved an annual transaction run rate of 850+ million order items managing 8300+ warehouses and 2950+ omni-enabled stores across geographies. Unicommerce eSolutions Limited is listed on National Stock Exchange of India (NSE: UNIECOM) and on the Bombay Stock Exchange.

ASCI Board appoints Partha Sinha as new Chairman

Mumbai, September 5, 2024: Post the board meeting held today following the 38th Annual General Meeting, the Advertising Standards Council of India (ASCI) appointed Mr. Partha Sinha, President & Chief Brand Officer of Bennett Coleman & Company Limited, as the Chairman of the ASCI Board of Governors for 2024-25. Mr. Sudhanshu Vats, Deputy Managing Director, Pidilite Industries Limited, was appointed Vice-Chairman, and Mr. S. Subramanyeswar, Group CEO & Chief Strategy Officer-APAC, Lintas India Private Limited was appointed Hon. Treasurer.

Mr. Sinha comes with a rich and vast experience with top organisations such as Bennet Coleman, Ogilvy, Publicis, BBH, McCann, and Citibank, along with his stronghold of brand marketing, media, and communications.

Mr. Partha Sinha expressed a compelling vision for ASCI. “Being the chairperson of ASCI is both an honour and a profound responsibility, especially as our industry is under greater scrutiny by our stakeholders. With rapid changes in the digital environment and the emergence of new challenges. ASCI is committed to not just keeping up but to staying ahead. Deploying technology and AI to monitor errant advertising as well as putting our might behind preventive measures will be our focus in the days to come. This will ensure that creativity and responsibility coexist, creating an ecosystem that values consumers and encourages innovation.”

Reflecting on his term, outgoing Chairman Mr. Saugata Gupta said, “Leading ASCI through a period that witnessed significant development and change has been a privilege. This year has been marked by historic milestones, including the formation of the ASCI Academy, which has become a cornerstone in promoting responsible and progressive advertising. Our commitment to training and capacity building, creating new direction via our thought leadership work, reflects a culture of responsibility from the ground up.”

ASCI has made great progress in terms of its achievements and strategic initiatives during the year, reinforcing its commitment to the proactive work since the start of ASCI Academy. The Academy’s expansion is an important aspect of ASCI’s initiatives, and it is quickly becoming an active proponent of industry training and education. Since its inception, the Academy has expanded to encompass over 75 alliances and, through its training and education, successfully impacted 33,300 new and emerging professionals, firmly anchoring ethical principles deeply within the advertising community.

ASCI has also actively engaged in research and thought leadership through collaborative projects. Notable among these were partnerships with Khaitan & Co. on a white paper on the influence of generative AI on advertising, with the UN Women- led Unstereotype Alliance and lead research agency Kantar on D&I in India, as well as with Lexplosion for an in-depth understanding of privacy and data protection.”

In the past year, ASCI actively co-hosted and participated in several stakeholder and government consultations to address and discuss issues like dark patterns, green claims, and surrogate advertising.

ASCI updated and introduced new guidelines on an array of categories this year, including deceptive patterns, charitable cause marketing, and green claims ads, among others. These changes keep the ASCI Code current in the face of the changing industry dynamics and consumer expectations.

ASCI’s rigorous complaint redressal and monitoring operations this year included processing over 10,000 complaints and reviewing over 8,200 advertisements, affirming its role as a vigilant guardian of the advertising industry.

Indian Immunologicals Limited Unveils Pediatric Dose of Indigenous Hepatitis A Vaccine, Havisure, on Teachers’ Day

India, 05th September 2024 – On the auspicious occasion of Teachers’ Day, Hyderabad-based Indian Immunologicals Limited (IIL) proudly announced the launch of its latest breakthrough: the pediatric dose of India’s first indigenous Hepatitis A vaccine, Havisure (0.5 ml).

This launch marks a significant milestone in IIL’s ongoing commitment to providing affordable and effective vaccines for all, especially for the most vulnerable sections of society, particularly children.

Hepatitis A is a highly contagious liver infection caused by the Hepatitis A virus, which predominantly affects children and can lead to severe health complications. Vaccination is the most cost effective yet efficient method to prevent the disease.

Addressing on the occasion, Dr. K. Anand Kumar, Managing Director of Indian Immunologicals Limited, said, “We are delighted to introduce the pediatric dose of Havisure, the first indigenously developed Hepatitis A vaccine in India. IIL is the single largest contributor to the self-sufficiency of vaccines in the country, this launch is a testament to IIL’s unwavering dedication to innovation and public health. As we celebrate Teachers’ Day, we are reminded of shaping a brighter future for children. We are confident that this vaccine will contribute to a brighter and healthier future for our younger generation. IIL’s endeavor to make indigenous vaccines will give necessary impetus to “Make in India” efforts.”

In line with its commitment to public health and social responsibility, IIL marked this significant launch with a series of community-focused activities. IIL organized free Hepatitis A vaccination drives for children in two orphanages in Hyderabad to start with, which includes one specifically for blind children. IIL also conducted a health awareness session at an old age home, and these are continuous efforts towards creating awareness and better health for the community at large.

The launch of Havisure reinforces IIL’s long-standing commitment to innovation and public health, solidifying its position as the only company in India to develop an indigenous Hepatitis A vaccine, available in both 0.5 ml and 1 ml dosage forms for pediatric and adult use, respectively.

Ultra-Luxury Homes Hit INR 2,443 Cr Sales in 8 Months Across Top Cities

Mumbai, 5 September 2024: The sale of ultra-luxury homes – units priced over INR 40 Cr each – remained unabated in 2024 despite spiralling prices. Latest ANAROCK data finds that a total of 25 ultra-luxury homes were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first 8 months of 2024 for a collective sales value of approx. INR 2,443 Cr. Pune, Chennai and Kolkata did not witness any sales in this rarified price bracket.

 Anuj Puri, Chairman – ANAROCK Group, says, “The whole of 2023 saw about 61 deals with a cumulative sales value of approx. INR 4,456 Cr in Mumbai, Hyderabad, and Gurugram. With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through.”

Of the total of 25 ultra-luxury homes sold in 2024 so far, at least 20 were high-rise apartments worth approx. INR 1,694 Cr. The remaining five sales were of bungalows cumulatively worth about INR 748.5 Cr.

Amid the unprecedented rise in demand for ultra-luxury trophy homes in the last two years, Mumbai tops the list of cities with maximum sales of such properties, despite it being by far the most expensive residential market in India. The financial capital unfailingly attracts HNIs and ultra-HNIs who buy ultra-luxury homes for investment, personal use, or both.

“Notably, the average ticket price of homes priced >INR 40 Crore have witnessed a 2% rise in the last 8 months – from INR 1,00,208 per sq. ft. in 2023 to INR 1,02,458 per sq. ft. in August 2024,” says Puri. “A deeper dive into the data reveals that homes priced >INR 100 crore have seen a 14% price jump in the last eight months alone – from INR 1,24,697 per sq. ft. in 2023-end to INR 1,41,904 per sq. ft. in 2024 till date. This double-digit price appreciation in this segment even before the year concludes stands testimony to the unrelenting appetite for trophy homes. Not surprisingly, leading Grade A developers have scaled up ultra-luxury homes supply in the last few years.”

Of the 25 ultra-luxury properties sold across the top cities in 2024 so far, Mumbai alone sold 21 units collectively worth INR 2,200 crore – an 84% share of the total deals in this segment across the top cities. At least 2 separate ultra-luxury home deals collectively worth INR 80 crore were closed in Hyderabad’s Jubilee Hills. Gurugram in NCR witnessed one ultra-luxury home sold for INR 95 Cr, while Bengaluru also closed one deal worth INR 67.5 Cr.

• Of the 25 deals closed across cities this year, 9 were of large ticket sizes worth over INR 100 Cr. each, and a collective sales value of INR 1,534 Cr. Contrastingly, the whole of 2023 saw 10 such large deals for a collective sales value of INR 1,720 Cr. We may see a new peak created in this segment over the 4 months remaining in 2024.
• Apartments remained the preferred property type for HNIs – out of the total 25 deals, 20 were for apartments and the remaining five for bungalows. At least 80% of the total deals were concluded by businessmen, and 12% by senior professionals from across various sectors. Bollywood celebrities and leading legal and medical professionals accounted for the remaining 8%.

 Ultra-Luxury Homes Demand – A 3-Year Perspective

Demand for luxury and ultra-luxury homes has been scaling ever-rising heights since the pandemic. With demand soaring, developers have gone on a veritable launch spree for such high-priced homes. If we consider the collective data of 2022, 2023 and 2024 till August, over 99 ultra-luxury residential deals worth approx. INR 8,069 Cr. were closed in the top cities.

• At least 13 deals worth approx. INR 1,170 Cr were closed in 2022, of which at least 10 were for apartments and the remaining 3 for bungalows. Mumbai accounted for 11 of these deals, and the remaining two were closed in Delhi-NCR. Notably, none of the remaining 5 top cities saw such large ticket value deals in 2022. Of the 13 ultra-luxury homes sold in 2022, at least 9 were for units priced between INR 100 – 150 Cr – all in Mumbai City.