Prestige to develop 1.1 million sq ft IT park on seven acres in Chennai

July 6, 2023

Bengaluru-based property developer Prestige Group has entered into a joint venture agreement with Chennai-based WS Industries to develop a 1.1 million sq ft IT park on seven acres of prime land on Mount-Poonamallee Road.

“Even though this is a JV deal and does not involve the sale of land if one has to value the land at Rs30 crore per acre, the project cost, including that of land, would be in the range of 750 crore to 800 crore,” multiple sources in the property development industry told TOI.

The 1.1 million sq ft park will be nearly as big as Tidel Park, which opened as the city’s first mega tech park in 2000 and is 1.2 million sq ft.

After OMR and Radial Road, Mount-Poonamallee Road is fast evolving into the third IT corridor in the city. Along with tech parks built by L&T (since acquired by CapitaLand), Rahejas, and RMZ, the DLF IT Park is already located at Manapakkam on the stretch of land that connects Nandambakkam and Porur. The ongoing metro rail project improves connectivity on this road.

“WSI is excited to partner with Prestige Group and is confident that this will be an iconic and landmark development in the emerging IT hub of Chennai at Porur,” said Nagarajan Seyyadurai, chairman of WSI.

At this location, WS Industries (WSI), which was started in 1962, manufactured insulators and other electrical equipment. It experienced financial difficulties and had to stop operations in 2010. In 2022, a new group of promoters took over the company, and eventually, it became debt-free. With the recent acquisition of about 250 acres at Sunguvarchatram, WSI plans to develop a logistics and light engineering hub. The company has a strong pipeline of projects and is focusing on the infrastructure space.

BCCM partners with Birchwood University as training and delivery partner

BRL Editor

July 5, 2023

The British Columbia College of Management (BCCM), which demonstrates a commitment to excellence, is dedicated to offering top-notch hospitality education and valuable learning experiences.

Birchwood University and the British Columbia College of Management (BCCM) recently partnered to deliver training. The institute is committed to providing excellent education and valuable learning experiences to facilitate bright careers.

Talking about the partnership with Birchwood University, Mr. Deepak Jha, MD & CEO, BCCM, said, “BCCM endeavours to bring the best of Indian and world standards when it comes to hospitality education. We are extremely proud to be associated with such a reputed institute. Such an association, I believe, is truly a way forward for Indian students to be at par with their international counterparts. The courses offered would come with a lot of value addition and make the students ready for the world. This association comes after due scrutiny of the present standards of BCCM, which includes the premises, the staff, the pedagogy, the rigour, the standard of amenities, and other strict parameters prescribed by Birchwood University.”

“We proudly acknowledge BCCM as an esteemed training and delivery partner. Your dedication to delivering high-quality education and providing valuable learning experiences has demonstrated your commitment to excellence, meeting our rigorous academic standards and reflecting our shared pursuit of educational excellence,” stated Sunny Dua, Director of Partnerships, Birchwood University.

“Birchwood University aims to deliver outstanding teaching and research pedagogy. All of the programs offered through Birchwood University are developed by our industry partners, who are also responsible for preparing study materials and assessing the programs (the academic direction). Wherever they are based, our students are exposed to the same high standard, a multidisciplinary approach, high-quality teaching, and collaboration with partners help us identify solutions to the biggest challenges of our time,” quoted an official statement.

To maximize the opportunities for its students, BCCM has partnered with a diverse range of organizations, including the National Skill Development Council (NSDC), Tourism & Hospitality Skill Council (THSC), Shri Venkateshwara University, Lingaya’s Vidyapeeth in India, Selkirk College, Can Pathways, Yogi’s Kitchen, Niagara College, and World Trade Centre BRNO in Canada. It has partnerships with major hospitality industry recruiters like Marriott, Accor Hotels, Edhas Hotels, The Lalit, J W Marriott, IHG Resorts, Fortune Hotels, Lemon Tree Hotels, Ramada, HolidyInn, Crowne Plaza, Radisson Hotels and Resorts, Taj Hotels, Resorts, and Palaces and is supported by Zucol, Careerera, Radisson Hotel Greater Noida, Atharva Hotels and Resorts, and L&T Financial Services. Coventry University in the UK and Birchwood University in the USA are two other global institutions of education.

BCCM recently joined forces as an authorized Programme Delivery Associate with the European Institute of Management and Technology (EIMT). To advise, seek, counsel, and admit students to the various courses offered at the EIMT, BCCM has been granted this authorization. The European Institute of Management and Technology offers the ideal fusion of top-notch education and an exceptional quality of life. It was founded in Switzerland, one of the world’s most popular and vibrant destinations.

A 100% job placement guarantee is included with every course offered by BCCM. The institute is expected to reach the peak of success in the coming years with much more in the anvil.

Q2 2023 sees NCR’s unsold housing stock drop 21% amid robust sales

BRL Editor

July 5, 2023

New Delhi, 5 July 2023: Residential property sales in Delhi-NCR skyrocketed since the pandemic, and there are no indications of this momentum slackening in the second quarter of 2023. Unsold housing inventory in the region declined by over 21% annually – the steepest drop of available stock among all the top 7 cities, finds ANAROCK Research data.

Delhi-NCR’s unsold stock as of Q2 2023-end stands at approx. 1,10,990 units against approx. 1,41,250 units in the corresponding period of 2022. Segmenting the data by budget categories:

Inventory of mid-segment homes priced (between INR 40 – 80 lakh) saw the highest yearly decline of 25% – from approx. 47,160 units at Q2 2022-end to approx. 35,450 units by Q2 2023-end.

Within the affordable housing category, unsold stock reduced by over 24% annually from approx. 51,680 units in Q2 2022 to approx. 39,400 units as of Q2 2023-end. Interestingly, new supply in this budget segment was reduced by 19% annually – from approx. 1,570 units by Q2 2022-end to approx. 1,260 units as of Q2 2023. The moderated new supply pipeline helped developers clear their previous stock.

Premium homes witnessed an over 23% y-o-y decline in unsold stock. As of Q2 2022-end, approx. 22,940 units were unsold in NCR in this budget category; by Q2 2023-end, it had declined to approx. 17,650 units.

Luxury homes (priced INR 1.5 Cr – INR 2.5 Cr) saw unsold inventory reduce from approx. 11,920 units by Q2 2022-end to approx. 9,610 units by Q2 2023-end – 19% annual drop.

Ultra-luxury homes (priced >INR 2.5 Cr), on the other hand, saw available inventory rise by 18% annually amid increased new supply in this category over the last few quarters. The current stock of ultra-luxury housing in NCR currently stands at approx. 8,880 units – the lowest among all budget categories.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “The increasing sway of branded developers has been steadily boosting homebuyer confidence in Delhi-NCR. Before the pandemic, this market was burdened by excessive supply from unbranded players. Despite very healthy sales today, branded developers are carefully calibrating the supply pipeline. Besides the yearly drop, if we consider the pre-Covid Q2 2019-end period, there has been a 39% reduction in overall unsold housing stock in the whole of NCR.”

Currently, Gurgaon has the maximum unsold stock of approx. 46,650 units, followed by Greater Noida with approx. 23,170 units. Noida has the least unsold stock at approx. 8,440 units as of Q2 2023-end.

In terms of yearly change, Noida saw the maximum annual decline of 31%, followed by Ghaziabad (26%), Gurgaon (21%) and Greater Noida (20%). Gurgaon took the third spot since it saw a lot of new supplies added in the last 1-2 years.

GenAI startup ZuAI raises INR 4-Cr in seed funding

BRL Editor

July 5, 2023

A Bangalore-based GenAI startup ZuAI announced that it had raised Rs 4 crore in seed funding from Prime Venture Partners. In the next three years, one hundred million students’ academic outcomes are expected to be improved by the ground-breaking AI-powered personal tutor for students. The startup’s (previously backed by 100X.VC) mission of giving Indian students personalized and effective learning experiences will be advanced by this investment.

Founders Anubhav Mishra and Arpit Jain had the inspiration to use generative AI to transform the education industry while developing ZuPay, and they recently launched ZuAI for a small group of pilot users. Over 35,000 students have expressed their love and enthusiasm for it since then. It is used daily by over 4500 students, with students in grades 7 to 10 using it the most.

Anubhav Mishra, co-founder, ZuAI, said, “We started ZuAI with a simple vision of enabling all students to have access to a personal tutor 24×7 and make learning interactive and personalized so that they can learn at their own pace. This investment will empower us to improve our platform’s capabilities, reach more students in India, and make a lasting impact on their educational journey.”

The company plans to offer more advanced tools that will enable students to create a study lecture in the future in just five minutes on any subject. Additionally, it will provide adaptive test series that will allow students to track their progress in any topic they are learning.

Prime Venture Partners, a leading venture capital firm specializing in funding early-stage tech startups, led the funding round. The company was an ideal partner for ZuAI due to its deep expertise and commitment to encouraging transformative technology initiatives for India.

Sanjay Swamy, managing partner, Prime Venture Partners, said, “GenAI is driving a massive transformation in education, and ZuAI’s key insight is that curriculum-based education is where the action is and where a personalized tutor can truly change outcomes for students. We’re delighted to back the ZuAI team to help students benefit from the state-of-the-art in AI while also giving parents the comfort that their children will get coaching that is both relevant and curriculum specific, without the broader distractions of the Internet.”

Ninad Karpe, founder & partner, 100X.VC, said, “As the first investor in Zu Technologies, we are delighted that they have raised the next round of funding. We believe that ZuAi is on a path to bring about a paradigm shift in the education sector in India, and we are excited about the potential it holds for rapid growth.”

Google selects 20 Indian startups for its accelerator programme

BRL Editor

July 5, 2023

Google announced that it had selected 20 Indian startups for the seventh edition of its Google for Startups Accelerator, including the train ticket booking app Trainman.

The company said these Seed to Series A startups were chosen from more than 1050 applications and will use generative artificial intelligence (AI) to their advantage.

“These startups now join the growing portfolio of 137 Google for Startups Accelerator startups in India. We have kick-started the program with a 1-week in-person bootcamp in Bengaluru on 12th June focused on training/workshops and office hours around product and design, tech, growth, and people, with a significant focus on AI/ML and Generative AI,” the company said.

Trainman, a startup that the Adani Group recently acquired, is among the selected startups.

For Seed to Series A tech startups in India, the Google for Startups Accelerator (GFSA) is a three-month, equity-free accelerator programme. Over 130 Indian startups’ growth journeys have so far been accelerated by it.

Google started accepting applications in March of this year for the seventh edition of the accelerator programme.

The company had previously stated that startups in India working in various industries currently using or planning to use artificial intelligence or machine learning are eligible to apply and will be given mentoring and support around Cloud, UX, android, web, product strategy, and growth.

Pincode goes live in ten Indian cities

BRL Editor

July 4, 2023

Phonepe-backed Pincode, a shopping app developed on the government-backed Open Network for Digital Commerce (ONDC), announced that it had gone live in 10 cities across India.

The cities include Mumbai, Delhi, Noida, Gurugram, Chennai, Hyderabad, Ahmedabad, Pune, and Kolkata.

Consumers in these cities can order food from local shops and restaurants and buy groceries online through Pincode.

Local brands like Society Stores in Mumbai, Khan Chacha in Delhi, Ajfan Dates and Nuts in Chennai, and Paradise Biryani in Hyderabad are available on Pincode.

Refunds, returns, and discounts are also provided. It is working to enter new segments like pharma, fashion, and electronics.

In Bengaluru, where the app first launched in April, it has already delivered over one lakh orders.

Lalit Singh, the general manager, Pincode, said, “The initial response and rapid consumer adoption of Pincode has given us the confidence to expand our services. In the coming months, we have ambitious plans for expansion into more cities.”

India Positive Bihar Youth Conclave 2023 Ignites Hope and Progress in Patna

BRL Editor

July 4, 2023

4th July 2023 – The vibrant city of Patna came alive with optimism and enthusiasm as the India Positive Bihar Youth Conclave 2023 unfolded at the esteemed Lemon Tree Hotel. Under the esteemed auspices of India Positive, this remarkable event brought together esteemed dignitaries, influential leaders, and spirited youth. The inauguration was graced by –Sanjay Jaiswal, Rituraj Sinha, Manish Sinha, Dilip Sinha, Shashank Kumar, Aditya Arora, Deepali Sahay, Brigadier and, UdayJava, who symbolically illuminated the event by lighting the ceremonial lamp.

During the inaugural session, Mr Manish Sinha, the Convener of India Positive, delivered an impassioned address emphasizing the mission to empower the youth of Bihar and guide them towards the path of development. Sinha proudly highlighted India’s remarkable progress, ascending from the 10th to the 5th largest GDP in the past 9 years, a monumental achievement for our nation. He projected an even brighter future, confidently stating, “India is poised to become the world’s third-largest economy within the next two to three years.” Sinha also emphasized the technological prowess of India’s youth, underscoring that data consumption in India surpasses that of both China and America. Furthermore, he celebrated the exponential growth of startups, with an impressive rise from 400 in 2015 to an astounding 9,500 registered startups in 2023. Sinha concluded his speech by expressing pride in India’s global stature under the esteemed leadership of Prime Minister Modi, positioning India as the beacon of knowledge, progress, and enlightenment.

During the session, Honourable Shree Sanjay Jaiswal, Member of Parliament, said, ” As we progress, let’s focus on building a strong infrastructure and sustainable cities. The ‘Chanpatiya model’ has reshaped the lives of labours. The advantage of low-cost labour is that China has the same benefit as Bihar today. Our top priority is creating a safe and secure environment for all. Through various development initiatives, we aim to unlock Bihar’s true potential. Also, through comprehensive development initiatives, we aim to uplift Bihar, unleashing its true potential. Let us harness the power of technology and innovation to bridge the gaps, connect communities, and empower the positive Bihar youth. Together, we will create a brighter future where opportunities flourish, dreams thrive, and Bihar shines as a beacon of prosperity.

The conclave also witnessed Samrat Chaudhary, the BJP State President, who eloquently sheds light on the challenges faced by Bihar over the past four decades. Chaudhary acknowledged the historical neglect of Bihar’s infrastructure and the need for transformative change. Pointing to the exceptional progress achieved during the nine years of the Modi government, he urged the people of Bihar to embrace the transformative agenda of the BJP and envision a future where Bihar flourishes through industrialization, leading to ample employment opportunities for its youth.

Renowned BJP MP, Ravi Shankar Prasad, participated in the event through a video conference and commended India’s current position as a global powerhouse. Highlighting India’s achievement as the world’s largest data consumer with the most affordable rates, Prasad proudly revealed that India has emerged as the second-largest mobile manufacturer globally, housing an impressive 270 mobile factories.

Dilip Sinha, President of the IPF Bihar Council, eloquently emphasized the untapped potential of Bihar, India’s second-most populous state. Sinha underscored the need for investments in Bihar, recognizing the exceptional talents and entrepreneurial spirit of the state’s artisans and youth, who are diligently creating employment opportunities through English and computer skills. Joining the chorus, Aditya Arora, COO of PhadCapital, emphasized the flourishing startup ecosystem, with investments pouring into startups from small towns. Arora announced plans to initiate a startup venture in Bihar, further igniting the spark of entrepreneurialism among the state’s youth.

Shashank, the Founder of Dehat, expressed the organization’s commitment to empowering farmers by connecting them from seed to market. Gol Institute CMD Vipin Singh underscored the crucial role of political will in curtailing migration from Bihar, highlighting the loss of 16,000 to 17,000 doctors who have left the state, leading to a significant brain drain.

Rituraj Sinha, National Secretary of BJP, enthusiastically declared India’s ascent to the world’s fifth-largest economy under the Modi government, applauding the enhanced global reputation of our beloved nation. Ajay Alok, the BJP’s national spokesperson, emphasized the importance of promoting startups in Bihar and urged the youth to embrace diverse career opportunities beyond government jobs.

Adding a melodious touch to the conclave, renowned Bhojpuri singer Deepali Sahay captivated the audience with her soulful songs, emphasizing Bihar’s need to promote art and culture. Meanwhile, BJP MLA and accomplished shooter Shreyashi Singh praised the Modi government’s unwavering support for sports, igniting enthusiasm among aspiring athletes. BJP MLA Sanjeev Chaurasia, echoing the sentiments of his fellow participants, celebrated Bihar’s remarkable progress under the NDA government.

The India Positive Bihar Youth Conclave 2023 was a resounding success, fostering unity, inspiration, and hope for a brighter future. This momentous event served as a catalyst for change, encouraging the youth to embark on a transformative journey toward progress and prosperity.

Smartstaff raises $6.2mn in Series A funding

BRL Editor

July 4, 2023

Smartstaff, the Blume Ventures / Nexus VP-backed blue collar workforce management and recruitment platform, has raised a fresh $6.2Mn in Series A from existing and new investors. The startup has now raised $10.5 million, with participation from Nexus Ventures, Arkam Ventures, Blume Ventures, and Alteria Capital. From the same group of investors, it had previously raised $4.3Mn in seed funding in 2021.

Arpit Dave, Viral Chhajer, Gnanesh Chilukuri, and Aravind Reddy founded Smartstaff in 2020 to make it simpler for firms to hire and manage their blue-collar workforce.

While decreasing attrition and absenteeism (which are up to 30% and 20%, respectively, at the shift level at the average manufacturing plant), as well as improving the workers’ visibility into payouts, statutory contributions, and their timesheets, this company’s user-friendly mobile-based workforce management and staffing solution helps industries in upgrading from legacy processes.

The startup has changed its focus slightly to concentrate on the manufacturing sector, which accounts for the majority of the creation of blue-collar jobs in India. Smartstaff claims that 11,000 workers have been successfully hired, trained, and placed in 50 different manufacturing companies over the last two years. As a result, 3 million shifts have been made possible, and as a result, workers have collectively earned over 100 crores in wages.

On the recent fundraise, Arpit Dave, one of the co-founders and CEO, said, “This investment serves as a testament to the immense value and potential that Smartstaff brings to India’s growing manufacturing industry. With the unwavering support of our investors, we are well-positioned to revolutionize and streamline the traditional staffing landscape”.

India’s manufacturing sector is expected to grow consistently at 8–10% over this decade, making it a promising industry for Smartstaff. The startup also offers post-recruitment services like payroll management and helping with recruiting, allowing it to increase the revenue lifecycle for every customer.

From the employees‘ perspective, the platform provides several benefits such as instant advance salary, loans, leave bonuses, live chat support, an emergency SOS feature, and a specific helpline for female employees’ needs. Their ability to retain employees and reduce attrition by half of the industry standard is directly due to their commitment to the well-being of their workforce.

Spree Hospitality announces the signing of a new property in Vellore

BRL Editor

July 3, 2023

Spree Hospitality, part of EaseMyTrip, has announced the signing of the new property in the vibrant city of Vellore. Due to this strategic move, Spree Hospitality has opened a second location in Vellore, demonstrating its commitment to giving its valued customers outstanding experiences.

Due to its prime location in Vellore, the hotel offers easy access to the city’s popular attractions, business hubs, and medical facilities. Guests will be near prominent spots and have easy access to the region’s rich cultural heritage.

Guests can expect a comfortable and luxurious stay that reflects Spree Hospitality’s commitment to excellence due to the 46 thoughtfully designed rooms. The room will be tastefully decorated, fusing contemporary design with local elements to create a unique ambience.

Sagar Khurana, vice president of Spree Hospitality, said: “We are thrilled to expand our presence in Vellore with the addition of this remarkable property. Vellore is a city with a rich cultural heritage and a thriving business landscape. Our second property here reflects our confidence in the potential of this vibrant city.”

A stylish restaurant will be on-site to highlight the hotel’s dedication to culinary excellence and serve various delicious dishes crafted by talented chefs. Whether guests want authentic regional food or international flavours, the restaurant offers a delightful culinary experience.

Additionally, the new Spree Hospitality property in Vellore will have versatile event spaces with modern amenities, including a convention hall and a banquet hall. The property is scheduled to open in March 2024.

Digital transformation startup KaarTech secures $30Mn in funding

BRL Editor

July 3, 2023

KaarTech, a Chennai-based digital transformation consulting firm specializing in SAP and S/4 HANA implementation, has raised $30 million in a funding round that Mumbai-based A91 Partners led.

Gautam Mago and Kaushik Anand from A91 Partners will join the KaarTech Board as part of the development.

The startup said it would use the raised capital to fuel its organic and inorganic growth across existing markets in the Middle East, the European Union, and North America.

KaarTech, a firm that specializes in IP & Digital Services in the SAP ecosystem with deep expertise in discrete manufacturing, professional services automation, process manufacturing, and consumer packaged goods, was founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumar M, and George Guardian.

Maran Nagarajan commented on the fundraising, “This association will bolster our ability to expand geographically and augment our services portfolio in-organically. In doing so, we aspire to be the partner of choice for customers looking for digital transformation journeys in SAP, cloud ecosystem customer experience, process automation and data analytics blended with KaarTech’s core competence in logistics, supply chain, financial and human capital management.”

“The partnership with A91 will catapult KaarTech into an unprecedented era of expansion, propelling us towards our aspiration of going public, despite our humble bootstrapped origins,” he added.

The startup, which has over 2000 employees, says its revenue has doubled over the past 24 months.

“We look forward to working closely with them in helping them expand their geographic presence in the US and Europe and in their journey towards becoming a publicly listed company,” said A91 Partners.

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