DLF to invest Rs 20,000-Cr in expanding commercial real estate business

By

-

March 22, 2025

DLF Limited acquires DLF Urban for Rs 496.73-Cr in strategic investment — Devinder Singh, Managing Director, DLF

Real estate giant DLF plans to invest approximately Rs 20,000 crore in the medium term to develop commercial real estate properties, including office and retail. In a corporate presentation filed with the stock exchanges, DLF outlined the growth strategy for its commercial real estate rental business.

“Significant growth capex being committed for growth,” the company said, adding an incremental capex of around Rs 20,000 crore.

DLF Ltd. and joint ventures, including DLF Cyber City Developers Ltd (DCCDL), will develop these commercial real estate assets.

In its annuity business, DLF boasts a strong operational portfolio of approximately 44 million square feet of rental assets, maintaining a high occupancy rate of 93%. The portfolio will grow to 73 million square feet in the medium term.

DCCDL, a joint venture between DLF and GIC, holds most of the DLF Group’s rental assets. DLF holds a 67% stake in the JV.

“High quality owned land bank available for sustainable long-term growth,” it said.

The annuity business encompasses DLF’s rental operations, DCCDL, and Atrium Place, as well as the hospitality and services/asset management sectors of the Group.

According to sources, DLF’s rental arm, DCCDL, is set to invest approximately Rs 6,000 crore to develop 75 lakh square feet of prime office and retail spaces in Gurugram.

DCCDL has already begun construction on 5.5 million square feet of Grade A office space in the latest phase of its ultra-premium commercial project, ‘DLF Downtown, Gurugram.’ Additionally, DCCDL has initiated the construction of the DLF Mall of India in Gurugram, covering a total area of 20 lakh square feet.

DLF primarily focuses on the development and sale of residential properties (Development Business) and the development and leasing of commercial properties (Annuity Business).

Since its inception, the company has developed over 185 real estate projects, spanning more than 352 million square feet. The Group also holds 220 million square feet of development potential across residential and commercial segments.

Neeraj Chopra-backed Stage raises $12.5M in funding

By

BRL Editor

-

March 21, 2025

0

Neeraj Chopra-backed STAGE raises $12.5M in funding — Cofounders of STAGE

Neeraj Chopra-backed Stage, often called the “Netflix for Bharat,” has raised $12.5 million in a Series B funding round, led by Goodwater Capital and Blume Ventures. The round also included $2.5 million in secondaries, benefiting early investors like Harsh Shah (Fynd co-founder) and Aayush Phumbra (Chegg founder).

Several other investors, including Physis Capital, Mumbai Angels, The Chennai Angels, Venture Catalysts, and Inflection Point Ventures (IPV), also participated. ISN first reported Stage’s Series B funding discussions in October last year.

Founded by Vinay Singhal, Shashank Vaishnav, and Parveen Singhal, Stage is a hyperlocal OTT platform, offering regional video content like Netflix and Amazon Prime but with a unique focus. It caters to audiences in Haryana, Rajasthan, and other dialect-based communities, delivering content in Haryanvi and Rajasthani.

With 20 million users and 4.4 million paying subscribers, Stage is making a mark in India’s digital entertainment space. The startup currently boasts an Annual Recurring Revenue (ARR) of ₹180 crore.

However, financial records on Tracxn reveal that in FY23, Stage’s revenue dropped to ₹2.94 crore from ₹3.87 crore in FY22. Despite this, its growing subscriber base signals strong potential for future expansion.

Eight Continents expand its portfolio with a new property in Nainital

By

BRL Editor

-

March 21, 2025

0

Eight Continents expand its portfolio with a new property in Nainital — Haninder Sachdeva, CEO of Eight Continents Hotels & Resorts

Eight Continents Hotels & Resorts has unveiled the addition of Hanric by Eight Continents Ikshana Luxe, a new property in Nainital to its growing collection of premium hospitality offerings. This luxurious retreat, located three minutes from the vibrant Mall Road in the heart of the Kumaon foothills, redefines luxury.

“This move is a testament to our commitment to curating unique and luxurious experiences in India’s most scenic destinations. With its breathtaking views, exceptional hospitality, and thoughtfully designed breathtaking views, exceptional hospitality, and thoughtfully designed spaces, this property in Nainital is set to become a preferred retreat for travelers seeking both relaxation and adventure in the Himalayas,” said Haninder Sachdeva, CEO of Eight Continents Hotels & Resorts.

The property offers meticulously designed accommodations, world-class dining, and a range of rejuvenating experiences. Each room is crafted for maximum comfort and equipped with premium amenities. At the signature Travel Diaries Cafe, guests can enjoy an exceptional culinary experience featuring Indian, Continental, and regional dishes. According to a release, evenings are made special with bonfire gatherings under a starlit sky, adding to the overall charm.

In addition to luxurious accommodations, Hanric by Eight Continents Ikshana Luxe, Nainital, serves as a gateway to a variety of exciting activities, including trekking to Naina Peak, boating on the serene Naini Lake, exploring vibrant local markets, and enjoying cable car rides to Snow View Point. The property also offers numerous recreational and wellness activities, ensuring a memorable and holistic stay.

The release added that Eight Continents Hotels & Resorts continues its strategic expansion across India, strengthening its reputation for providing unforgettable hospitality experiences in culturally and naturally rich locations.

Signature Global secures 8.39 acres of land in Gurugram for Rs 282-Cr

By

BRL Editor

-

March 21, 2025

0

Signature Global secures 8.39 acres of land in Gurugram for Rs 282-Cr — Pradeep Aggarwal, Founder & Chairman, Signature Global

Real estate company Signature Global (India) Ltd has purchased 8.39 acres of land in Gurugram for Rs 282 crore, with plans to develop a housing project. The company anticipates generating revenue of approximately Rs 3,200 crore from the project.

On Friday, the company said it has “acquired 8.39-acre land at Sector 37D, Gurugram, Haryana, at the cost of Rs 282.42 crore”.

The land has a total development potential of approximately 20 lakh square feet. Signature Global plans to launch the project on this site by the end of the next financial year (2025-26) and expects to generate around Rs 3,200 crore.

On the development, Pradeep Aggarwal, Founder & Chairman of Signature Global, said, “Gurugram’s housing market has experienced exceptional growth in recent years, with Dwarka Expressway emerging as India’s fastest-growing real estate corridor.” “Given the success of our past projects, we are confident that our upcoming development in this sector will receive an overwhelming response upon launch,” he added.

Signature Global holds a significant 45.1-acre land bank in Gurugram’s Sector 37D, near the Dwarka Expressway, developing multi-story and low-rise residential units. In the first nine months of the 2024-25 financial year, the company has added approximately 29 lakh square feet of saleable area to this prime location.

Signature Global has delivered 13.5 million square feet of housing space and has a strong pipeline of around 46 million square feet in upcoming and ongoing projects.

Oberoi Realty to sell 21.74% stake in I-Ven Realty to Alpha Wave Ventures for Rs 1,250-Cr

By

BRL Editor

-

March 21, 2025

0

Oberoi Realty to sell 21.74% stake in I-Ven Realty to Alpha Wave Ventures for Rs 1,250-Cr — Vikas Oberoi, Chairman & MD, Oberoi Realty

The board of directors of Oberoi Realty has approved a securities subscription agreement (SSA) with Alpha Wave Ventures II, LP, Vikas Oberoi, and I-Ven Realty (I-Ven).

Under this agreement, Alpha Wave Ventures II, LP will subscribe to (i) 2,77,778 Series A Compulsorily Convertible Preference Shares (CCPS) for Rs 44,999.964 per share, and (ii) 10 Class A equity shares at Rs 10 each, totaling Rs 1,250 crore and representing 21.74% of I-Ven’s shareholding on a fully diluted basis.

I-Ven is a joint venture between Oberoi Realty and Vikas Oberoi, with shares held equally. As part of the agreement, I-Ven will restructure the funds Oberoi Realty and Vikas contributed. The company will conduct a rights issue of redeemable preference shares at Rs 400 per share, which will be offered to Oberoi Realty and Vikas in equal parts over multiple tranches.

The proceeds from this issue will primarily be used to repay outstanding loans and redeem existing preference shares held by Oberoi Realty and Vikas. The board has also approved the subscription of up to 41,25,000 redeemable preference shares, amounting to Rs 165 crore.

Perplexity AI in negotiations to raise funds at $18 Bn valuation

By

BRL Editor

-

March 21, 2025

0

Perplexity AI in talks to bring its assistant to Samsung and Motorola phones — Perplexity AI founders (L-R) Johnny Ho, Aravind Srinivas, Denis Yarats

Perplexity AI is in discussions to raise funds at an $18 billion valuation, according to a source familiar with the matter, as reported by Reuters on Thursday. The Nvidia-backed startup aims to expand and capitalize on the growing demand for its search tools. This new valuation is double the $9 billion reported by Reuters in November.

The source added that the company is considering raising between $500 million and $1 billion in this funding round. The increasing adoption of chatbots and AI agents, which can perform tasks on behalf of users, has sparked heightened investor interest in such startups.

Bloomberg News was the first to report the higher valuation.

Perplexity is one of the key players looking to challenge established search engine giants like Alphabet’s Google. However, the company has faced criticism from media outlets such as News Corp-owned Forbes and Wired, which accuse the startup of plagiarism and content copying.

Perplexity has launched a publisher partnership program to collaborate with news organizations.

In October, OpenAI raised $6.6 billion in a funding round that could value the company at $157 billion, solidifying its position as one of the most valuable private companies globally.

Tata Power-DDL joins Earth Hour 2025 to promote responsible energy consumption and sustainability

By

BRL Editor

-

March 20, 2025

0

At Tata Power-DDL, we are committed to creating a greener and more sustainable future for all through innovative approaches and positively influencing customer behavior for responsible energy consumption. On March 22, 2025, Tata Power-DDL is preparing to join Earth Hour 2025 and participate in the symbolic “Switch Off Lights” initiative to show support for our planet. In 2024, 71 MW was saved in our area of operations.

We are actively engaging with our Workforce, Customers, Resident Welfare Associations (RWAs), and Industrial Welfare Associations (IWAs) through targeted communication to encourage them to unite and create the ‘Biggest Hour For Earth’.

Direct messaging through WhatsApp and Communication Collaterals at Customer Care Centres and Residential Societies are being displayed to spread awareness of this common global movement.

Additionally, we are leveraging our Digital platforms—our Website and Social Media (Facebook, X, Instagram, LinkedIn)—along with Digital screens across office locations to unite forces and channel the actions of our over 2 million strong customer base and nearly 9 million people residing in our operational area to support this crucial cause.

Tata Power-DDL is steadfast in reducing carbon footprints and investing in sustainable ideas that benefit consumers and the environment.

Navadhan raises INR 111-Cr in Series A funding round

By

BRL Editor

-

March 20, 2025

0

Navadhan secures INR 111 Cr to provide loans to rural MSMEs — Left to Right - Vijay Haswani, Amit Biswal, Nitin Agrawal, Anirudh Ramakuru

Navadhan, a fintech startup focused on rural India, has raised INR 111 crore ($12.8 million) in its Series A funding round, led by the National Bank for Agriculture and Rural Development’s (NABARD) venture capital arm, NabVentures. According to a press release, Prime Ventures co-led the round, with participation from LNB Group, Varanium NexGen Fintech Fund, Gemba Capital, Faad, VC-Grid, and Anicut.

Initially targeting INR 80 crore, the funding round was oversubscribed, reaching INR 111 crore. Navadhan plans to use the funds to accelerate its growth, enhance its tech platform AceN, and expand its footprint while diversifying its loan offerings.

Founded in 2019 by Nitin Agrawal, Vijay Haswani, Anirudh Ramakuru, and Amit Biswal, Navadhan’s AceN provides end-to-end services such as customer sourcing, digital onboarding, underwriting, payments, and collections. The non-banking finance company (NBFC) also connects small businesses and microenterprises to banks, utilizing a proprietary data science-powered underwriting model to assess borrowers’ digital footprints and cash flow.

Navadhan’s fintech platform claims to have access to more than INR 700 crore in debt lines from over 25 banks and NBFCs through its AceN platform, which supports API integrations. The company is in 700 pin codes across five states: Madhya Pradesh, Rajasthan, Gujarat, Karnataka, and Odisha.

“We are happy to find investors who share our mission of creating new wealth (Nava-dhan) for the rural-preneurs… We are excited to have NabVentures since rural MSMEs are our core customer segment. Also, happy to have support from LNB family office with a vantage of running seasoned businesses in India,” said Navadhan cofounder Nitin Agrawal.

Confirming the development in a LinkedIn post, Prime Ventures’ Shivani Kulkarni said, “We partnered with Navadhan Capital a year ago and have been consistently impressed by the team’s execution, even amidst challenging conditions in the financial services sector. It’s an honor to partner with you, Nitin Agrawal Vijay Haswani Anirudh Ramakuru Amit Ranjan Biswal.”

Meanwhile, NabVentures’s chief investment officer (CIO) Ashish Choudhary reportedly said the company has witnessed a “calibrated growth of 12X in the three years while maintaining good asset quality”.

The recent fundraising comes at a time when fintech remains the top sector for Indian investors. In 2024, startups in this sector secured the largest share of funding, raising over $2.5 billion across 162 deals. This strong momentum has continued into 2025.

Salesforce to help Bandhan Bank in digital transformation

By

BRL Editor

-

March 20, 2025

0

Salesforce to help Bandhan Bank in digital transformation — Ratan Kumar Kesh, Executive Director, Bandhan Bank

Bandhan Bank has partnered with Salesforce to accelerate its digital transformation in corporate lending and home loan sectors. Salesforce, which leverages artificial intelligence for customer relationship management, will help the bank enhance its loan origination systems in these areas. Corporate and home loans comprise approximately 47% of the bank’s loan assets, valued at Rs 1.32 lakh crore.

“This will help us reduce cost by 20% and improve efficiency by about 20%,” bank executive director Ratan Kumar Kesh said.

After transitioning to a new core banking system in October 2023, Bandhan Bank has fast-tracked its digital transformation, focusing on product innovation. By implementing Salesforce’s solutions for home and commercial loans, the bank has streamlined the entire loan process—from customer onboarding and credit evaluation to approval, disbursal, and servicing, according to the bank.

“Let’s accept AI in a positive way instead of resisting it. People need re-skilling to fit themselves in the era of AI,” said Arundhati Bhattacharya, president & chief executive officer at Salesforce, South Asia.

Salesforce and Bandhan Bank officially revealed their partnership at an event in New Town, a satellite city near Kolkata.

Cognizant to build 14-acre learning centre at Siruseri Campus, Chennai

By

BRL Editor

-

March 20, 2025

0

Cognizant to build 14-acre learning centre at Siruseri Campus, Chennai — Ravi Kumar S, CEO, Cognizant

IT giant Cognizant announced plans to build a 14-acre “immersive learning center” at its Siruseri campus in Chennai. The facility will train 100,000 individuals annually in advanced AI technologies. The company expects to complete the center on its 50-acre campus within three years.

“Designed to train 100,000 individuals annually, the center will feature 14,000 seats, smart classrooms, incubator hubs, client experience spaces, design thinking centers, along with residential accommodations and wellbeing facilities,” according to a release.

The Siruseri learning center will operate as part of a hub-and-spoke model, supporting additional learning centers developed in phases across Hyderabad, Pune, Kochi, and Coimbatore campuses. It will enhance Cognizant’s learning and development ecosystem by combining infrastructure with immersive learning experiences, advanced AI training, executive leadership programs, and consulting initiatives.

“The capabilities to excel in an AI-driven world will differentiate the leaders from the followers,” said Ravi Kumar S, CEO of Cognizant.

Serving as the main training hub for Cognizant’s school graduate program in India, the center will also host intensive boot camps for fresh graduates. Furthermore, it will act as a collaborative space for technology partners, academia, clients, and communities to engage in innovative research and learning programs and contribute to advancements in the industry.

“These centers have been designed to support the future of work, promote agility, collaboration, and innovation, and provide a best-in-class employee experience. Cognizant continues to partner with leading global organizations, transforming business processes, boosting productivity, and creating new value through AI and GenAI-powered solutions,” the release said.

Since 2024, Cognizant has launched new delivery centers in Bhubaneswar and Indore and plans to open a tech fin center in GIFT City, Gujarat, later this year. The company has also revamped nearly one million square feet at its Hyderabad delivery center and upgraded its 3-acre facility in Kolkata.

The company has intensified its focus on developing GenAI skills.

“In 2024, Cognizant empowered 277,000 associates through its learning ecosystem, with 168,000 completing a GenAI course. To date, 220,000 associates have been upskilled in GenAI,” the release said.

Cognizant employs a global workforce of 336,800, with more than 70% based in India. The company has a significant presence in several cities, including Bengaluru, Bhubaneswar, Chennai, Coimbatore, Delhi-NCR, Hyderabad, Indore, Kochi, Kolkata, and Mumbai.

CONNECT WITH US