8, Mar 2024
The honeymoon with IT jobs is over. Core branches of Engineering are back in demand: Experts
Hyderabad, March 08, 2024…. While most Engineering colleges in Telangana, Andhra Pradesh, withdrew core branches of Engineering, BVRIT Narsapur Campus and Sri Vishnu Institute of Technology, Bhimavaram gave emphasis and importance to core branches of Engineering such as Mechanical, Automobile, Chemical, Civil Engineering and others. Poor admissions in core engineering branches are no doubt a cause for concern. But management has the social responsibility to sensitize students and parents about the importance of core branches, said Sri K V Vishnu Raju, Chairman of Sri Vishnu Educational Society (SVES).
He was inspecting sledge pull tests(where all-terrain vehicles built by students will pull a tractor. It is an evaluation test) of all-terrain off-road electric vehicles the students built to participate in the endurance test tomorrow. Mr Raju also toured the entire campus and interacted with students who came from 70 colleges across India. BVRIT Narsapur is the proud host of BAJA SAEINDIA 2024, a national-level engineering student out-of-classroom education event. This event came to Telangana, and thanks to BVRIT’s continuous participation and efforts, it was held in Hyderabad for the first time. The event is being organised first time in South India at BVRIT Narsapur campus, Mr. Vishnu Raju added.
To encourage core branches of education we have introduced Chemical Technology and Pharmacy at the graduation level, shared Mr Vishnu Raju.
The job opportunities are decreasing in the IT industry. The many new-age engineering streams are interdisciplinary. So, no one need not worry much about any particular core branch of engineering. All future jobs need engineers with interdisciplinary skills. BAJA SAEINIDA competition gives practical knowledge and experience to budding engineers.
If PM Modi’s dreams of making India a hub of the semiconductor industry become a reality, then we will need more engineers in core branches. The core branch engineers in future will be like IAS officers, he explained
Today’s cars are more automated. They are no longer mechanical cars. They are smart electrical devices. These all need engineers of cross-discipline, Mr Raju shared
The management must create excitement around core branches of engineering. The students of the core branches must be made to realize and feel proud about their stream, he said.
The Telangana government last year unveiled Telangana Mobility Valley, India’s first new mobility-focused cluster to accelerate the growth of sustainability mobility in the country. Telangana Mobility Valley (TMV) aims to attract investments of around Rs 50,000 crore and generate more than 4 lakh jobs in the next 5 years. If that becomes a reality imagine the kind of jobs it generates and gives jobs to core branch engineers, he added
Many educationists and leaders of the SVES who accompanied Mr Raju felt that the honeymoon with IT Jobs was over. Core branches of engineering are back reckoning and are in demand.
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- By Rabindra
8, Mar 2024
VST Tillers Tractors Showcased its Range of Innovative Products in Uttar Pradesh
8th March 2024: VST Tillers Tractors Ltd, one of India’s leading farm equipment manufacturers, showcased its range of innovative products at the UP Agrotech 2024. Honorable Deputy Chief Minister of Uttar Pradesh Shri Brajesh Pathak visited the VST stall at the Agrotech 2024 and checked out various innovative products from the company. He also appreciated the frugal manufacturing approach taken up by VST Tillers Tractors in developing Smart Farm Machines and acknowledged VST’s role in helping small and marginal farmers across the country increase their income. The products displayed by VST at the exhibition were also appreciated by farmers and scientists of the Research Institute for their quality and adaptability to taking multiple operations with different attachments.
The innovation seen with the VST 932 DI Owners’ Tractor released with Frugal Engineering concepts, this 32 HP Cat Tractor has unique features in the segment including multiple PTO options like Reverse PTO, MID PTO, and Independent PTO along with a fully synchromesh gearbox enabling the owners to perform all challenging task at their farm with ease. The Tractor has higher power, torque, and greater fuel efficiency making it versatile to handle all tasks.
Another unique Tractor showcased by the brand is VST 929 DI DUAL TRAC which can manage the narrowest working in the sugarcane field while operating with the standard track in other fields. VST’s Series 9 range of tractors are equipped with multiple features to meet the growing needs of farm mechanization at orchards, vineyards, and horticulture farms. In line with its commitment to revolutionizing farm mechanization for small and marginal farmers, VST also displayed its SMART FARM MACHINES at the exhibition. The VST 165 DI, a 16 HP electric start power tiller with sit and drive arrangement, and the 95 IGNITO, a 9 HP Tiller, first in its class Electric Start received excellent response for the innovation and efficacy in enhancing agricultural productivity. These products are widely used for both Dry Land & Wet Land Operations, Inter-cultivation, Earthing-up, Land preparation, etc. Although smaller in size, these products are available with multiple attachments to handle the growing demands of mechanization in Sugarcane, Turmeric, Vegetable Crops, Horticulture Crops, Floriculture & Plantation Crops.
VST also displayed a wide range of Electrical Water Pumps engineered to deliver efficient water transfer and irrigation solutions to the farm community, ensuring optimal crop growth and yield. The pumps are manufactured using Automatic Coil Winding and CNC technology, along with durable materials that ensure long-lasting performance and minimal maintenance.
The wide range of products from 2 HP to 50 HP under ONE VST umbrella were appreciated by the business community willing to explore profitable ventures in this Farm implements segment.
Organized by The Indian Chamber of Food and Agriculture (ICFA), in collaboration with the Department of Agriculture, Government of Uttar Pradesh, AGROTECH 2024 was held from March 1st to March 3rd at the Indian Institute of Sugarcane Research in Lucknow, Uttar Pradesh. This edition of Aggrotech 2024 saw a significant turnout of 30000+ farmers and delegates. U.P AGROTECH 2024 acted as a comprehensive program featuring a Development Meet on Uttar Pradesh Agriculture, informative sessions, an exhibition, and farmer workshops. Indian Institute of Sugarcane Research is the world’s premier research institute on sugarcane under the Government of India’s Indian Council of Agricultural Research.
8, Mar 2024
Continental Increases Earnings in 2023 and Targets Further Improvement This Year
Hanover, March 8, 2024. Continental achieved its financial targets in the past fiscal year, taking the DAX company a step closer to its mid-term targets as it continues to defy the challenging conditions. The geopolitical situation, additional inflation-related costs of around €1.4 billion, exchange-rate effects and high costs for special freight all had a considerable impact on performance. Continental also presented its strategy for increasing value creation and achieving its mid-term targets at its Capital Market Day in December 2023.
For the current fiscal year, the technology company is targeting an increase in sales and earnings (consolidated sales: around €41.0 billion to €44.0 billion, adjusted EBIT margin: around
6.0 to 7.0 percent). Continental expects the margin to improve further, particularly in the Automotive group sector, thanks mainly to the cost-cutting measures, price adjustments and efficiency improvements adopted last year. The goal is also to achieve above-market growth.
“The past fiscal year posed major challenges for us with geopolitical uncertainties, persistent strains on the supply of semiconductors, and inflation,” said Continental CEO Nikolai Setzer at the annual press conference in Hanover on Thursday, adding: “We achieved our goals for 2023 and made improvements toward achieving our mid-term targets, despite the challenging conditions. For this, my special thanks go to our around 200,000 employees worldwide. I’m proud of our team, because together we made substantial progress. In 2024, we will once again tackle the challenges facing us head on and pursue our goals for the year with determination.”
Adjusted operating result increases by 31.6 percent in 2023
In the past fiscal year, Continental achieved consolidated sales of €41.4 billion (2022:
€39.4 billion, +5.1 percent). Its adjusted EBIT was €2.5 billion (2022: €1.9 billion, +31.6 percent), corresponding to an adjusted EBIT margin of 6.1 percent (2022: 4.9 percent). All three group sectors contributed to the improved adjusted EBIT margin.
Net income increased to €1.2 billion in 2023 (2022: €67 million, +1,635 percent). Adjusted free cash flow was €1.3 billion (2022: €200 million, +547 percent).
“Thanks to an improvement in operating earnings and a reduction in inventories and receivables, we significantly increased our adjusted free cash flow. We therefore slightly exceeded our cash flow target, which speaks to our financial strength,” said Continental CFO Katja Garcia Vila.
Dividend proposal of €2.20 per share
Based on the updated distribution strategy of 20 to 40 percent of net income, the Continental Executive Board will propose a €0.70 increase in the dividend to €2.20 per share for the past fiscal year. At around 38 percent, the distribution to shareholders is at the upper end of the defined range and would amount to around €440 million in total.
Key figures for the Continental Group
- Before changes in the scope of
- Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special ef
- In the year under review, the presentation of income and expenses in connection with specific warranties, restructuring me asures, severance payments, as well as impairment and reversal of impairment losses on intangible assets and property, plant and equipment was They are now assigned to the relevant functional areas. The comparative period has been adjusted accordingly.
- The assignment of income and expenses from certain business activities within the functional areas has been The c omparative period has been adjusted accordingly.
- Capital expenditure on property, plant and equipment, and 6 Excluding trainees.
7 All market prices are quotations of the Continental share in the Xetra system of Deutsche Börse AG. Data source: Bloomberg.
Market outlook and forecast for fiscal 2024
In 2024, Continental expects the global production of passenger cars and light commercial vehicles to change by -1 to 1 percent. Last year, this increased by almost 10 percent compared with 2022 to more than 90 million vehicles. For the global tire-replacement business, the technology company expects sales volumes to develop by 0 to 3 percent.
Higher costs for wages and salaries – expected to amount to around €500 million – will weigh heavily on the earnings position in fiscal 2024, with around half of these costs attributable to the Automotive group sector.
Based on these assumptions and given the exchange rates at the beginning of the fiscal year, Continental anticipates consolidated sales for 2024 of around €41.0 billion to €44.0 billion and an adjusted EBIT margin of around 6.0 to 7.0 percent.
Continental expects the Automotive group sector to generate sales of around €20.0 billion to
€22.0 billion and an adjusted EBIT margin of around 3.0 to 4.0 percent.
For the Tires group sector, Continental forecasts sales of around €14.0 billion to €15.0 billion and an adjusted EBIT margin of around 13.0 to 14.0 percent.
Continental anticipates sales in the ContiTech group sector of around €6.6 billion to €7.0 billion and an adjusted EBIT margin of around 6.5 to 7.5 percent.
Capital expenditure before financial investments is forecast to be around 6.0 to 7.0 percent of sales.
Adjusted free cash flow is expected to be around €0.7 billion to €1.1 billion.
“In the current year, we are targeting an increase in sales and in the adjusted EBIT margin for the Continental Group. Despite high special expenses, we expect the corridor for adjusted free cash flow to be only slightly below that of the previous year,” said Garcia Vila.
For one thing, payments for the buyback of shares in ContiTech AG will impact free cash flow by around €500 million in 2024. The background in this regard is that in order to strengthen Continental’s liquidity during the financial market crisis, the company sold 24.9 percent of its shares in ContiTech AG to Continental Pension Trust e. V. in 2009. The shares were then bought back in order to restore the original ownership structure. Continental AG therefore once again fully owns ContiTech AG, which now operates under the name ContiTech Deutschland GmbH.
Furthermore, Continental anticipates additional special expenses of around €500 million. These relate to the carve-out of the Original Equipment Solutions (ContiTech) and User Experience (Automotive) business areas, as well as the measures already announced in the Automotive group sector to strengthen competitiveness. In total, it therefore expects special expenses of around
€1 billion, which will impact adjusted free cash flow in fiscal 2024.
Automotive improves: adjusted EBIT margin of 1.9 percent; order intake of €27.1 billion
In the Automotive group sector, sales increased by 10.8 percent to €20.3 billion (2022:
€18.3 billion). Automotive significantly increased its adjusted EBIT margin compared with the previous year to 1.9 percent (2022: -0.3 percent). The improvement in earnings was attributable in particular to higher production efficiency thanks to a more stable material supply, strict cost discipline and a lower special freight volume.
In addition, Continental further increased order intake in the Automotive group sector. The technology company generated orders worth around €27.1 billion last year, confirming its strong position in terms of purchase-relevant future technologies. Year-on-year, the order volume increased by around 16 percent (2022: more than €23 billion).
The order from the exclusive partnership with Aurora contributed to this. Together, Continental and Aurora will bring autonomous trucking systems to the mass market – starting with the USA by 2027. Just a few weeks ago, they defined the design and architecture of the future driverless system, reaching this development milestone less than a year after their partnership began.
Tires delivers stable profitability: adjusted EBIT margin of 13.5 percent
The Tires group sector delivered stable profitability despite weak tire-replacement markets in Europe and North America, achieving sales of €14.0 billion (2022: €14.0 billion, -0.3 percent). At
13.5 percent, the adjusted EBIT margin was higher than in the previous year (2022: 13.1 percent). The margin improvement was mainly due to the continued high share of premium tires and a strong end-of-year business in Europe.
With the UltraContact NXT, Continental last year launched the most sustainable production tire currently on the market. It has been available to tire dealers in Europe since July 2023. Comprising up to 65 percent renewable and recycled materials, it combines a high share of sustainable materials with maximum safety and performance. It therefore has the highest possible rating (“A”) of the EU tire label in all performance categories (rolling resistance, wet braking and exterior noise).
Continental has also established a strong position in the tire original equipment segment for electric vehicles. The 10 highest-volume manufacturers of electric vehicles currently all place their trust in tires from Continental.
ContiTech stronger: adjusted EBIT margin of 6.7 percent
The ContiTech group sector performed positively despite a weak industrial environment, generating sales of €6.8 billion (2022: €6.6 billion, +3.7 percent) and an adjusted EBIT margin that was up significantly year-on-year at 6.7 percent (2022: 4.7 percent).
In May last year, ContiTech also launched a strategic realignment aimed at enhancing the group sector’s impact and efficiency, improving customer and market proximity and further expanding its industrial business. Alongside this, the group sector also strengthened its industrial business through company takeovers, fully acquiring the printing technology business of Trelleborg, for example.
This step expanded the technology company’s range of surface solutions in the field of printing technology at the same time as boosting its business with industrial clients. Continental also acquired the conveyor and maintenance company Vertech AB, a leading service provider for the mining industry in Sweden and Norway. This acquisition marks an important next step toward
ContiTech’s goal of offering its industrial customers in Sweden and other northern European countries a comprehensive package of products, services and solutions.
Number of employees
At the end of 2023, Continental had around 200,000 employees (+1.9 percent compared with the end of 2022). The number of software and IT specialists increased slightly to around 22,000 worldwide.
8, Mar 2024
ISACA’s New Framework Revolutionizes Digital Trust: A Game-Changer for Organizations
Bengaluru, India (8th March 2024)—According to upcoming ISACA research, more than half of organizations (55 percent) believe it is crucial for an organization to have a digital trust framework. To meet this need, global IS/IT association ISACA has launched a new framework designed to help organizations focus on trust holistically by leveraging technology securely, increasing collaboration, reducing reaction times to unforeseen events, focusing on brand management and improving financial performance through enhanced trust.
The Digital Trust Ecosystem Framework (DTEF) and portfolio of resources helps organizations understand the practices they can undertake to impact their trustworthiness and reputation by addressing the key components of digital trust: integrity, security, privacy, resilience, quality, reliability and confidence.
According to ISACA’s upcoming State of Digital Trust research, the benefits of high levels of digital trust include enhancing positive reputation (71 percent), having more reliable data for decision-making (60 percent), and experiencing fewer privacy breaches (60 percent) and fewer cybersecurity incidents (59 percent), and stronger customer loyalty (56 percent). Digital trust, defined as confidence in the integrity of the relationships, interactions and transactions within an associated digital ecosystem, can also strengthen an organization’s bottom line.
“High levels of digital trust ultimately improve financial performance by lowering the risk of impact of data and cyber breaches and associated regulatory fines,” said Shannon Donahue, ISACA chief content and publishing officer. “Organizations can also see greater gains from responsible digital investments, and the Digital Trust Ecosystem Framework helps with both of these.”
Following an earlier beta release that enabled ISACA to include expert input from around the globe into the final version, the newly released Digital Trust Ecosystem Framework focuses on the elements of people, process, technology and organization, drilling down into the domains of culture, human factors, emergence, enabling and support, direct and monitor, and architecture to provide organizations with trust factors, practices, activities and outcomes as part of their digital trust journey. The framework is designed to be compatible with many existing frameworks and best practices, including COBIT, ITIL, GDPR, and numerous ISO and NIST standards.
“Strengthening digital trust is not just a one-time exercise, but a continuous practice of proactive relationship building between enterprises and stakeholders that is both responsible and profitable while also addressing underlying ethical questions,” says Rolf von Roessing, member of the ISACA Digital Trust Working Group and lead developer of the framework, and partner and CEO at FORFA Consulting AG. “Having a framework to guide organizations as they integrate trustworthiness into their technology and business operations ensures that they are covering all ground, minimizing risk and maximizing impact.”
ISACA is also publishing an interactive guide to help organizations effectively use the framework in a format that is innovative and new to the organization. The DTEF Interactive Guide allows users to explore the content of the framework with 3D modeling, use cases, and a visual experience. A DTEF Implementation Guide and the Introduction to the Digital Trust Ecosystem Framework Short Course are also available. ISACA also has issued the Digital Trust Board Briefing, available exclusively to members for 60 days, followed by a wider public release.
“In a tech and business landscape that is transforming more quickly than ever, digital trust is a key differentiator in advancing resilience, reputation, and ultimately, organizational success,” says Erik Prusch, ISACA CEO. “Implementing digital trust practices must be intentional, and ISACA is equipping enterprises with transformational tools to build trust with their stakeholders and see positive impact.”
8, Mar 2024
Breakthrough Celebrates International Women’s Day Across Six Districts in Haryana
Gurugram, 8th March 2024: Breakthrough, an organisation making gender-based violence unacceptable by transforming the culture that permits violence, celebrated International Women’s Day in six districts across Haryana including Karnal, Panipat, Sonipat, Rohtak, Jhajjar, and Gurugram. The week-long event, themed Steps Toward Equity – Let’s come together and start with equality, highlighted the importance of inclusivity and aimed to raise awareness about the challenges women and girls globally face.
Breakthrough collaborated with the Women and Child Development department of government of Haryana to organise a series of events such as community discussions, video screenings, and seminars on women’s rights and street plays. In addition, Breakthrough organized demonstrations at Gram Panchayat levels to highlight the barriers that stand in the way of women’s ambitions.
Arty Senior Manager and State Lead of Haryana, Program team, Breakthrough said “Even in today’s ever-changing world, it is evident that gender equality remains a significant concern. Girls are often held back from pursuing their aspirations due to a society that favours men. However, there is gradual progress as girls and women have begun to challenge these societal norms and redefine what is considered normal. In Haryana, we actively engage with over 100,000 girls and women to promote a shift in norms. It is a great joy to witness adolescent girls, along with their parents and other female stakeholders such as Sarpanch, Ward Panch, Aaganwadi workers, and ANMs, taking the initiative to drive discussions on gender norms and discrimination. These remarkable individuals are truly making a difference in their communities.”
Sub Division Officer Rajesh Kumar Soni from Haryana Civil Services emphasized that “education is the key to unlocking all avenues in society. Unfortunately, women’s rights are often neglected. However, both genders should have equal rights in society, and only education can pave the path.”
Mr. Surjeet, the Tehsildar of Bhorakalan village in the Pataudi block of Gurugram, says, “it is important to underscore the importance of collective responsibility in tackling challenges faced by girls. He advocated for a culture of zero tolerance towards violence and highlighted the need for seeking departmental support to address any such issues, fostering a proactive approach towards positive change.”
In Karnal, a seminar featuring a street play was organized at Government Women’s College in Basatada, Karnal district. Dr. Meenu Anand, head of the Women’s Cell, and Women Safety Officer Savita joined Sub Divisional Magistrate Rajesh Kumar Soni in support. Women’s Safety Officer Savita underscored women’s rights vigilance, while Sub Division Magistrate Rajesh Kumar Soni advocated for gender equality through education.
The celebration in Karnal was particularly noteworthy. A seminar featuring a street play was organised at Government Women’s College, where women’s rights vigilance and the significance of Women’s Day were emphasized. Furthermore, a rally featuring adolescents, youth, and women driving tractors, bikes, and cycles demonstrated the community’s resilience and determination to challenge gender norms and advocate for equality.
Women, teenage girls, and TCLs celebrated this occasion with a power walk, a Tata Motors movie screening, and interactive activities in the Faridpur community of Karnal. TCLs, Anganwadi workers, youth, and villagers gathered in the Pathargarh neighbourhood of Panipat to paint a wall, signifying their unification and appreciation of the sacrifices made by women.
In Gurugram, the TCLs initiated the festivities with a five-day theatre workshop, which concluded with a powerful performance. They also led the first Women’s Day Celebration in the Sidhrawali community, hosting shows across three Gram Panchayats. Participants engaged in a Signature Campaign, pledging their commitment to combat gender-based discrimination, symbolizing their dedication to the organization’s message.
Team Change Leaders organized the first Women’s Day Celebration in the Sidhrawali community, featuring six shows across three Gram Panchayats. Through captivating performances, the campaign aimed to inspire change and raise awareness. Breakthrough videos were showcased in the Harchandpur community, featuring motivational tales such as “Lal Lal Ankhiyo Se Ghuro Na Piya” and “Harshini Kanekar: Fire Fighter.” The celebration was further enriched with dancing, drumming, and a lively performance by our Rising Kishori group, symbolizing empowerment and unity. Breakthrough’s Women’s Day celebration served not only as a commemoration but also as a testament to the collective effort to promote gender equality and empower women and girls in the community. Through these diverse activities and engagements, Breakthrough continues to champion gender equity and inspire change in Haryana’s communities.
7, Mar 2024
Coding Ninjas Partners Social Beat for Brand Awareness Campaign
Chennai, March 7, 2024: Intending to reduce its blended customer acquisition cost (CAC), Coding Ninjas, a prominent player in the tech education sector, has assigned its digital mandate to Social Beat, a leading digital marketing agency known for its innovative strategies and outstanding results. As part of this mandate, which was won after a multi-agency pitch, Social Beat will implement a brand awareness campaign for Coding Ninjas.
Social Beat will design targeted brand campaigns to boost brand recognition as well as efficiently minimize the blended Customer Acquisition Cost (CAC).
Mr. Vikas Chawla, Co-Founder of Social Beat, said, “Our goal is to strengthen Coding Ninjas’ position in the industry via multi-channel media planning and execution. The company’s digital-first approach allows us to completely leverage our digital marketing prowess. Our team will meticulously strategize and execute media plans across various channels. This will include a daily reporting mechanism to ensure transparency and real-time insights into campaign performance. These collaborations will authentically endorse Coding Ninjas, further expanding its reach and credibility.”
Mr Kannu Mittal, Co-Founder of Coding Ninjas, said, “This is the first time we are doing a brand campaign with the objective of driving awareness and consideration for the brand among both college students and working professionals looking to upskill themselves in their tech careers. Almost 15 million engineering college students graduate every year and enter the workforce. Unfortunately, only a handful of them do so from top colleges that get easier access to coveted tech roles in top companies. The rest of them start the race from behind and have to toil harder to get access to the same privileged placement opportunities that Tier 1 college students and graduates take for granted. Our campaign celebrates those learners who, despite their circumstances, are not afraid to challenge the status quo, believe in themselves, and take ownership of making things happen. We as a brand help those aspirers get the tech careers they deserve faster with the right guidance at the right time. Our unique 3 Stage Learning Model is designed to help learners Learn, Excel & Stand Out through various upskilling offerings that enable them to build strong foundations and leapfrog their peers. Everything we do at Coding Ninjas is centred around how best we can add value to our students.”
7, Mar 2024
Groundbreaking Initiative: Green Ride Bengaluru Revolutionizes Urban Mobility
Bengaluru March 7th, 2024- Green Ride Bengaluru, a pioneering initiative in sustainable urban mobility by CiRE (Corporates in Real Estate), is set to make its launch on March 1st, 2024. The campaign with a vision of “Making Bengaluru more commuter-experience friendly” is offering a revolutionary solution to the pressing mobility challenges faced by the commuters of Bengaluru.
As one of the most congested cities in terms of traffic, Bengaluru has long grappled with issues of pollution, increased commute times, and overall urban mobility inefficiencies. CiRE sees this as a window of opportunity to bring in a strong corporate force together to facilitate change in the urban mobility system in Bengaluru. The campaign is scheduled to run for 6 months and intends to recognize and award corporates, corporate-tech park owners, and start-ups who have facilitated the use of public transport, last-mile connectivity practices, provision of shared electric transport, adequate supplementary infrastructure, and necessary policies for enhancing sustainable mobility usage by employees for their commute. These five award-focus pillars go beyond just creating awareness about sustainable mobility but rather initiate the much-needed change within the corporate commute.
On a wider vision, Green Ride Bengaluru Campaign, CiRE aims to elevate the overall livability of the city encompassing environmental, economic, and social parameters of development. However, the plan is to not do this alone but in collaboration with partners from government, academic institutions, developers, planners, corporates, and citizens to ensure a successful outcome. The city of Bengaluru thrives on innovation, with CiRE we believe in driving innovation basis collective efforts across all bodies of real estate.
Jayaram S. Govindaiah Founder CiRE said, “Mobility in today’s world is all about creating a positive environment across the ecosystem by reducing footprint of carbon and related emissions. Sustainability is of paramount importance to our future generations and CIRE is at it to create and deliver sustainable solutions across India”.
Era Chaturvedi Co-Founder of Green Ride says, Bengaluru paves the way for a sustainable urban future, with better footpaths, enhanced last-mile connectivity, increased EV charging infrastructure, and dedicated cycling paths. As our cities swell with urban life, the duty for greener cities isn’t a collective burden but a personal commitment we each embrace
Aditya PS -Chairman of CiRE said, “I see mobility as a societal equalizer, bridging gaps and fostering inclusivity. Our Green Ride Bengaluru campaign champions sustainability, aiming to make a greener future accessible to all. It is a transformative shift towards sustainable, equitable urban living, setting a precedent for collective action”.
The Green Ride Bengaluru campaign of CiRE is being supported by B.PAC, IISC, and Future ICT Forum as its key strategic and implementation partners. Sumadhura Group who are also the sponsors to this inititiave– Mr G. Madhusudhan, Chairman and Managing Director said, “We are committed to leading the way in sustainable practices which are consistent , viable and give long lasting positive impact to our environmental footprint.” Happy to support Green ride Bengaluru that brings key stakeholders together to engage for an actionable green mobility which is much needed in our city.
Prof Ashish Verma (IISc – Sustainable Transport Lab) (IST Lab.) states that – “Through Green Ride Bengaluru, our combined goal is to bring long-term changes towards sustainable mobility by recognizing and inducing sustainable mobility practices among corporates in Bengaluru, who have a large collective footprint in terms of their travel activities. For IISc Sustainable Transportation Lab, Green Ride Bengaluru is another mode of translating our research on sustainable mobility into practice”
Smt Manjula Vinjamuri, Chairman, Karnataka Appellate Tribunal, and Director-General, Administrative Training Institute, Mysuru. (Prior – Commissioner, DULT) said, “The Green ride movement is an open invitation to Bengaluru’s corporate sector to partner with like-minded organisations, and bring about a transformational change in the way Bengaluru moves for work. Bengaluru’s corporate sector is known to be innovative, and deeply engaged with civic issues. They have been part of trail-blazing initiatives such as cycle2work. I am hopeful that they would join this initiative and nudge their employees to move from private to public transport”.
6, Mar 2024
How Housing Prices Are Set (No, It’s Not Arbitrary)
By – Akash Pharande, Managing Director – Pharande Spaces
The Indian housing market is in continuous boom mode, with more people that ever aspiring for homeownership and developers vying for their attention. However, one thing that still tends to haunt many buyers’ minds is the lack of clarity when it comes to the prices of homes. While homes by good developers are selling at a fast clip, many buyers still feel that the prices are set arbitrarily.
Let’s explore how real estate developers arrive at the prices for their properties. For this, we first need to understand a concept and process called ‘price discovery’.
What is Price Discovery?
Price discovery is the process by which the market determines the value of a particular product. It applies to almost all products, including smart phones, costlier household items like air conditioners, refrigerators and television sets, and so on.
You have doubtlessly noticed that the prices of some of these items tends to fluctuate according to the demand for them, the state of the economy, time of year, and even the weather. Even gold items, where the price of the basic raw material is determined by its market value, also experience price hikes during the festive season.
But if the economy is in doldrums and disposable income is low, even gold items will sell at a discount because of lower demand.
In the context of real estate, price discovery determines the prices at which properties reasonably sell. In India, the process of price discovery for residential real estate is complex, as it involves several factors. One of the most important factors is the cost of land.
The Cost of Land
Land is a finite resource, and its availability is limited. The cost of land can vary widely depending on its location, the availability of basic infrastructure there, and what kinds of developments the area has already seen. For all intents and purposes, there is no such thing as basic cost of land – while there may be certain basic benchmarks, the prices of different plots even in the same area can vary widely.
Developers do influence the cost of land through development activities. Announcing new projects can increase land demand in nearby areas, especially if the development enhances the area with amenities and infrastructure. Less directly, the demand from developers for land in a certain area tends to drive up the price quoted by the landowners.
More influential developers, such as those who build massive townships and industrial projects, can also influence zoning and land use changes. This increases land value by enabling more profitable developments for other developers. Large-scale developments can bring about broader economic growth, which attracts businesses and residents, thereby increasing demand and therefore land costs.
In markets where some developers hold large land parcels, they control the supply, and this will also influence pricing. And, of course, government policies also play a key role.
But whether they are responsible for the current land prices or not, developers must factor in the cost of this finite resource when setting the price for their properties.
Construction Costs
Another important factor that influences the price of homes is construction costs. The amount of money a developer spends on construction materials, labour, and other expenses can vary widely depending on the city, location, nature of the project, and quality of the materials used.
The third factor will again vary depending on whether the project being developed falls into the luxury, mid-range, or affordable housing category. The cost of relevant labour hinges on its ready availability in the area.
If the project’s location is remote and the developer breaking completely new ground there, construction labour needs to be brought in from far off and be accommodated. In the case of high-density development areas, labour tends to be more readily available.
Demand
The third factor that affects the price of housing is the demand for it. This can vary significantly depending on the location of the project and whether the project addresses the actual requirements of the target clientele. For example, a luxury development in an area largely defined by low-cost housing is unlikely to see much organic demand.
Also, demand will depend on the developer’s brand value and the amenities offered in the project. Even with good brand backing, the right location and appropriateness of the project, a developer must set the ticket sizes of his homes reasonably so as not to be ‘priced out of the market’ – meaning that prices must be in line with similar projects by other developers in the area.
To summarize
Given the complexity of these factors, it is not surprising that the process of price discovery in the Indian housing sector can often seem arbitrary and opaque. Developers must consider multiple factors to set the price for their properties.
One common strategy used by many – but no means all – developers is to set a base price for their properties but be open to negotiate on it with individual buyers. There is usually more scope for negotiation in the case of projects which are not seeing much sales volumes.
Finally, developers often provide discounts or incentives to buyers who purchase earlier in the project’s development cycle. This encourages buyers to commit to purchasing homes before construction is complete, helping developers to improve cash flows and reduce their financial risk.
Each developer must consider the unique factors that affect the price of their properties and come up with a pricing strategy that is appropriate for that particular project. But conveying these various factors to every single customer is not feasible – finally, home buyers are interested in buying a home and not in the challenges that the developer faces.
It is also pertinent to note that the market also tends to be self-correcting. If developers set excessively high prices, the demand for their properties will be lower than they expected. On the other hand, if a developer sets the prices too low, he may miss out on a good profit margin.
But few home buyers today are willing to be patient to see if prices in a particular project will correct. In fact, most buyers are looking for ready-to-move homes precisely because they’re not willing to wait. This means that the developer must come up with the right pricing strategy right off the bat.
If you’ve found a good home option in the right location, in the right project by the right developer, and the price corresponds to your budget, it is safe to assume that the developer has done his homework and that ‘the price is right’.
6, Mar 2024
Foreign Engineering students will be part of future events of eBAJA SAEINDIA: Sanjay Nibandhe, Chairman, Organising Committee, BAHA SAEINDIA 2024
Hyderabad, March 06, 2024……eBAJA is a national-level engineering student out-of-classroom education event with 70 plus electric buggies to promote Telangana state lowering Carbon Footprint said Sanjay Nibandhe, Chairman, Organising Committee, BAJA SAEINDIA 2024, while addressing a press conference at BVRIT Campus, Narsapur in the city outskirts on Wednesday.
We organise events in 4 categories which include mBAJA, which is a mechanical engineering event; hBAJA which was introduced this year aims to upgrade the level of BAJA SAEINDIA competition in line with the new advancements in the field of vehicle technologies, he added.
Telugu states team is one of the three teams, Sri Vishnu Institute of Technology, participated in hBAJA, which is about Hydrogen Vehicles. This event held in Janbaury. A hydrogen vehicle is an alternative fuel vehicle that uses hydrogen as its onboard fuel. This category we introduced first time this year he said. It is a matter of great pride of Telugus as all girls college Sri Vishnu Institute of Technology developed all terrain buggie using Hydrogen technology, which they displayed to the whole nation in an event held in January this year.
The other two categories are eBAJA, which is about electric vehicles and aBaja is about autonomous vehicles. This category is introduced this year. This category opens avenues for students to explore the next generation of mobility by manufacturing fully autonomous vehicles. All these events are conducted at various locations to make industry-ready automobile engineers said Sanjay, who later unveiled a terrain single-seater e-buggy, designed, and developed by all women engineering students of Mechanical, Electrical, and Automobile stream of Sri Vishnu Institute of Technology, Bhimavarm.
The objective of these events is to give engineering students an out-of-classroom learning experience and produce industry-ready engineers, he said.
295 colleges are associated with SAEINDIA 2024, he said.
SAEINDIA 2024 will showcase 70 electric buggies, each one made by students spending anywhere in the range of Rs 4 lakh to 12 lakh. The winners of the final round to be held on walk away with Rs 8 lakh cash prize.
Mr Hirotake Harada, Senior Vice President of Engineering of Renault Nissan Tech said BAJA SAEINDIA 2024 across all four categories has 3528 males and just 700 women participating. The ratio of male to female participants is 5:1. This has to be changed. He suggested that changes have to be made to the BAJA SAEINDIA 2024 rule book and registration guidelines to make the competition more inclusive.
BAJA SAEINDIA and Renault Nissan Tech are jointly working to improve diversity. Deepti Singh, DGM Renault Nissan Tech, was appointed as Diversity Ambassador. We are aiming to improve the gender ratio from 17% to 50% in the coming future.
Yogesh Nagendiran said six teams from two Telugu states are participating in BAJA SAEINDIA 2024. This year additionally six more teams are participating. The event has a representation of all the states in India.
Acham Trehan, State Head of AP and Telangana of BPCL (Bharat Petroleum Corporation Ltd said they have appointed Niraj Chopra as their ambassador to promote their speed brand of high-performance fuel.
K. Aditya Vissam, Secretary of Sri Vishnu Educational Society and KV Vishnu Raju, Chairman gave a video message.
A HR Meet will be held towards the end of the event. 12 companies are expected to recruit the students. Last year 142 students were placed through such a meet and 529 were placed between the years 2018 and 2023.
6, Mar 2024
A unique event called BAJA SAEIndia 2024 kicked off
Hyderabad, March 06, 2024……City’ s Engineering College, BVRIT is the host to a unique event called BAJA SAEINDIA 2024. The six day motorsports event began today in the city outskirts at the B V Raju Institute of Technology (BVRIT) at their Narsapur campur.
It features the best engineering brains. The six days event eBaja category comes first time to South India to Hyderabad in the 17 years history of SAE India. The event will go on till 11th March.
The theme of the event is ‘Multiverse of Mobility’. BAJA SAEINDIA 2024 has introduced two exciting new categories – aBAJA (Autonomous BAJA) and hBAJA (Beginning with CNG and slowly transitioning to Hydrogen Propulsion) alongside the ever-popular mBAJA and eBAJA categories.
The Participating students were tasked to design and fabricate a single seater All-Terrain electric buggy in the boundaries of the rulebook and are required to take part in the trifold evaluation consisting the Preliminary Event, Virtual Event, technical scrutiny, student workshops, static events report submission, etc. which would finally lead up to the finale – BAJA SAEINDIA 2024 Phase-3
It is organized by Society of Automotive Engineers, India (SAEINDIA). SAEINDIA is one of the few professional engineering societies in India. SAEINDIA members are in various fields – design, manufacture, test, market, and maintain self-propelled land, sea, air, and space vehicles, their components and systems.
It is the 17th edition of BAJA SAEINDIA. 70 teams from different Engineering colleges including reputed colleges such as IITs, NITs will participate. Each team comprising 30 team members will participate. On the 2000 plus participants from across the country expected to participate. The event will be the celebration of Engineering, Innovation and Team building.
Following this will be the HR meet, which will serve as a platform for participating organizations to seek and recruit top-tier talent from the pool of BAJA SAEINDIA participants.
The event is hosted by Hosted by Shri Vishnu Educational Society at the B V Raju Institute of Technology (BVRIT) at their Narsapur campus, the teams will start arriving by the morning of 6th March and begin with the registration followed by the Technical Inspection, an essential step to ensure the safety of all the buggies entering the competition. Finalists selected from the Static Events held during the Virtual BAJA SAEINDIA 2024 in the Month of December 2023 would be participating in the static finals events and would try their best to score the maximum number of points for their teams.
Over the course of the event, post clearing the technical inspection, the teams will start attempting the dynamic events, which includes acceleration, manuverability, sledge pull, speciality etc. before lining up at the start line of the flagship 4-hour endurance race on the 9th of March 2024. The valedictory ceremony would soon follow to felicitate the top performers and award winners.
The BAJA SAEINDIA HR Meet will be organized on the 10th and 11th of March where top automotive organizations associated with BAJA SAEINDIA will have a chance to recruit these industry ready students directly from the event site, students from 3rd and final year would have access to a plethora of opportunities.
