‘Baalti Bhar Ke’, the 11-minute quick service, micro-culinary brand by Kebabs and Curries Company opens its first outlet in C-Scheme, Jaipur

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April 11, 2022

March 31 2022, Jaipur: Baalti Bhar Ke, as the name suggests means abundance, and as such, the brand delivers happiness and good food in excess to its guests and patrons. Baalti Bhar Ke brings together five elements of Kebabs and Curries Company (KCCO) under one brand experience to give Jaipurites a new way of dining.

Guests can visit the bold, vibrant yellow dining space at Neelkanth Towers, near MGF Mall, C Scheme and be treated to the following,

20 bestselling items of Kebabs and Curries Company
New delicious recipes like Keema Pao, Keema Baati, Makhanwala Tandoori chicken, Chicken Changezi, Desi Ghee Mutton Curry, Desi Ghee Chicken Curry, Khamiri Roti etc.
All items are available in half kilo, 1 kilo and 1.5 kilo smart packs, in user-friendly, jumbo packaging
Kebabs are available in party packs of 6, 12, 18 pieces
A super-quick 11-minute food out time from the KCCO kitchen.

This is the newest brand to be launched by Kebabs and Curries Company and is a combination of the Kebabs and Curries’ best business practices, customer insights and new smart brand design.

Tarun Behl, founder and Managing Director, KCCO India Pvt Ltd,said, “The pandemic has changed the eating habits of people. Baalti Bhar Ke gives our guests the best of KCCO menu and new recipes as well.”

Varun Behl, co-founder and Managing Director, KCCO India Pvt Ltd, said, “Baalti Bhar Ke is a completely new concept that we have launched. Baalti Bhar Ke is focused on group eating and family events. In short, happiness, Baalti Bhar Ke, delivered by Kebabs and Curries Company.”

A homegrown brand, Kebabs & Curries Company (KCCO) has been creating unforgettable dining experiences for 18 years. This Jaipur based culinary brand has a chain of restaurants and QSR (Quick Service Restaurants) in prime locations (Raja Park, Chitrakoot (Vaishali Nagar), Jagatpura, Sitapura, World Trade Park Mall, Banipark, Hawa Mahal (Pink City), So Hi B2 Bypass, Elements Mall (DCM Ajmer Road) and VT Road Mansarovar, Kota (Rajiv Gandhi Nagar), Udaipur and few other select cities of Rajasthan.

KCCO India Pvt. Ltd currently has seven culinary brands under its ambit, and its focus is on quality, consistency, hygiene and service across all its outlets. Apart from its restaurants, KCCO India Pvt. Ltd also operates in the space of upscale catering for groups and events. KCCO India Pvt Ltd currently has its presence in Jaipur, Ajmer, Kota, Udaipur with a total 16 number of restaurants and culinary outlets.

Isprava Group receives ₹1000-cr from Nadir Godrej, Burman family offices

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April 11, 2022

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The Isprava Group, a luxury holiday home developer, backed by Nadir Godrej, Anand Piramal, and the Burman family of Dabur India, has raised nearly Rs 1,000 crore in its third round of fundraising, which was led by key investors comprising these existing marquee stakeholders.

The Nadir Godrej Family Office, the Burman Family Office, and others contributed significantly to the latest fundraising effort. Previously, the company raised funding in early 2017 and again in 2019.

The capital was raised through a combination of corporate and project level equity investments by the Isprava Group, including luxury house developer Isprava and luxury homestay company Lohono Stays.

“Isprava and Lohono are redefining luxury second homes and hospitality in India. They have managed to execute flawlessly and that too at scale. They are well positioned to capture market share across India and continue to grow exponentially. We, as a family, are thrilled to have been a part of this journey as investors,” said Aditya Burman, director at Dabur India.

Both Isprava and Lohono Stays will continue to build their business verticals with this round of growth capital.

“We have witnessed exponential growth for both Isprava and Lohono Stays in the last few years. These funds raised will help us further delight our customers, scale both businesses and build out our tech stack. We are excited to continue to grow both companies and ensure that they continue to be loved by their customers,” said Nibhrant Shah, CEO of Isprava Group.

“The demand for luxury real estate and unique experiences among high networth individuals (HNIs) has grown exponentially over the last several years. Both Isprava and Lohono Stays have firmly established themselves as the category leaders in their respective industries. We believe the market for both these businesses is going to expand rapidly and we have built a solid foundation on which both the companies are ready to grow even more exponentially over the next several years,” said Dhimaan Shah, COO at Isprava Group.

Office vacancies remain stable as companies start bringing employees back

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BRL Editor

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April 11, 2022

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Vacancies in Grade A office space markets across the top six cities remained stable for the first time after two years of a constant increase in the first quarter ended March at 18.5%, with companies reviving expansion plans and employees returning to work.

According to Colliers, a real estate services and investment management company, office vacancy has been rising by roughly 2% per quarter since the second quarter of 2020 due to occupier exits and decreased demand amid the Covid-19 outbreak.

Commercial developers such as Embassy REIT, Prestige Office Venture, DLF, Brookfield, and RMZ, on the other hand, have reported reduced or constant vacancy in their office portfolios in the last quarter, according to industry insiders.

“This quarter has seen occupier confidence swinging back with considerable large-sized deals that accounted for a whopping 55% of the leasing during the quarter,” said Ramesh Nair, CEO, India, and managing director, market development, Asia, at Colliers. “This clearly shows that occupiers are consolidating offices as they prepare for workplace-led innovation and collaboration.”

He said the second quarter of 2022 “will be a crucial period as we expect more companies to open up workplaces”. “If the overall leasing momentum continues, then the year 2022 is likely to be a promising year,” Nair said.

According to Colliers, gross absorption in the first quarter of the calendar year jumped nearly three times year on year (YoY) to 13.0 million sq ft, the highest level in two years. This indicates that the first quarter was a turning point for the commercial office sector, with the industry overcoming the comparatively low demand experienced over the previous two years.

The Leela Goa to be rebranded as St Regis hotel by Marriott

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April 9, 2022

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Marriott International, Inc. announced that it had inked an agreement with Ceres Hotels Pvt. Ltd. to introduce its St. Regis brand to Goa earlier this week.

Following a planned conversion, The Leela Goa will be transformed into The St. Regis Goa Resort, which will open in October 2022. The shift will take place in stages, according to the company. Ceres Hotels is a subsidiary of Metrod Holdings Berhad, which is publicly traded in Kuala Lumpur.

“We are delighted to work with Ceres Hotels Private Limited to introduce the St. Regis brand to Goa, bringing bespoke experiences curated for the most discerning travellers to one of the most beautiful and fascinating coastal destinations in India,” said Rajeev Menon, President of Asia Pacific, excluding Greater China, Marriott International.

“The resort will usher in a new benchmark of luxury hospitality in this city and underscores the tremendous trust and confidence our owners have in us and in the power of our luxury brands.”

The hotel is located on the Mobor beach in South Goa, and it spans 49 acres. The beach is known for dolphin spotting, bird viewing, and cruises because it is surrounded on three sides by water.

There are 206 rooms, suites, villas, and five speciality restaurants.

Choice Hotels India launches Comfort Inn Vilasa in Burhar, MP

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April 8, 2022

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Comfort Inn Vilasa will be the first international branded hotel in Burhar, Madhya Pradesh’s Shadol district, where guests will experience warm, efficient service at an affordable price.

Comfort Inn Vilasa, a contemporary hotel featuring modern facilities, high-quality operations, and access through multiple distribution platforms, joins Choice Hotels’ fast-growing portfolio in Burhar.

Comfort Inn Vilasa is a full-service hotel near the railway station that offers a comprehensive range of guest services. The hotel draws both business and leisure travellers due to its location near notable pilgrimage sites such as Teerthraj – The King of Pilgrimages, and significant mining centres.

Speaking on occasion, Vilas Pawar, CEO of Choice Hotels India, commented, “We are delighted to expand our reach in Madhya Pradesh with Comfort Inn Vilasa, Burhar. With growing opportunities in this region, this hotel will cater to fast-emerging commercial requirements with the brand promise of a comfortable stay”.

Rajesh Chamariya, Managing Director of Comfort Inn Vilasa, Burhar, commented, “We are extremely proud to partner with Choice Hotels, and we are set to offer exemplary services to our guests. The location of the hotel and magnificent interiors set us apart from other players in the region. In addition, the hotel is a preferred choice for social gatherings amongst the locals”.

The hotel is conveniently located in Burhar’s city centre, in Madhya Pradesh’s Shadol district, and offers stylish and elegant guest rooms with contemporary interiors for a refreshing environment. The multi-cuisine restaurants Senses and Farmaish Café are open 24 hours a day for a quick bite. In addition, the hotel provides an on-site fitness facility and laundry for guests’ convenience.

This IT firm gets 600,000 employee referrals for jobs: Report

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April 8, 2022

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Throughout the last few quarters, attrition rates in IT companies have been high as demand for technical professionals with digital capabilities has continued to exceed supply. On the other hand, Accenture has stated that it is not talent constrained.

According to brokerage and research firm Kotak, the IT giant can recruit roughly 4.6 million talented candidates per year, including 600,000 employee referrals.

Accenture finds talent by combining high touch with high-tech recruiting and artificial intelligence. Despite labour market concerns, Accenture has access to a large talent pool. According to a survey by Kotak, Apprenticeship programmes allow companies to tap into fresh talent pools.

According to the report, the information technology company has done an excellent job of forecasting prospects and investing heavily through organic and inorganic channels to grab new spending avenues and gain market leadership.

“Accenture despite being the largest IT services firm will grow at the fastest pace among all global Tier 1 players, a remarkable feat. Cloud business was US$1 bn in revenue in FY2012 and has grown to US$26 bn in a decade and is still clocking 30% growth,” as per Kotak.

According to the report, the use of compressed transformation is expanding and accelerating across organisations in India, giving a structural tailwind to demand over the next several years.

“Higher focus on costs is an outcome but not necessarily a bad one for Indian IT, cost focus can bring back mega deals for the industry and will benefit Tier 1 players enabling them to close gap with mid-tier peers,” said Kotak.

Indiabulls Real Estate introduces QIP, sets a floor price

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April 8, 2022

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Indiabulls Real Estate’s board of directors approved the launch of a Qualified institutional placement (QIP) issue on April 7, 2022, with a floor price of ₹106.38 per equity share, based on the pricing formula stipulated by the SEBI ICDR Regulations.

“The issue price will be determined by the company in consultation with the book running lead managers appointed for the Issue. Further, the company may at its discretion offer a discount of not more than 5% on the floor price for the issue,” Indiabulls Real Estate informed in an exchange filing.

The real estate firm further stated that a committee meeting would be conducted on or after April 12, 2022, to examine and approve the issue price, including any applicable discount.

The property developer’s board of directors approved a strategy to collect money of up to Rs 1,500 crore through one or more QIPs in December of last year.

According to the company, the fundraiser is intended to supplement the company’s long-term resources and retain sufficient liquidity for meeting financial requirements for business activities, existing and new projects, and future business growth.

Indiabulls Real Estate’s stock has risen more than 32% in a year, but the real estate stock has fallen nearly 31% in 2022 (year-to-date or YTD).

Indiabulls Real Estate, a subsidiary of the Indiabulls Group, is one of India’s major real estate companies with a diverse commercial and residential properties portfolio.

Meta plans virtual currency, creator coins for its apps: Report

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April 7, 2022

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Meta Platforms Inc is preparing plans to introduce virtual tokens and cryptocurrencies to its family of apps to use such virtual tokens for rewarding creators, lending, and other financial services, the Financial Times reported on Wednesday.

The move, which is said to be in the early stages, comes as Meta expands its focus on services centered on the metaverse, a virtual world where people interact, work, and play.

It could also provide Meta with a new revenue stream and more control over transactions across its suite of apps and services, which includes Facebook, Instagram, WhatsApp, and the Meta Quest virtual reality platform if it is implemented.

According to the FT report, which cited persons familiar with the matter, Meta’s currency, internally dubbed “Zuck Bucks,” is meant for the metaverse and may not be based on blockchain.

According to the report, meta might offer in-app tokens that would be centralized by the company and could be used to pay favorite Instagram creators or reward those who make remarkable contributions to Facebook groups.

Last month, Mark Zuckerberg, the CEO of Meta, stated that Instagram will introduce non-fungible tokens (NFTs) in the “near-term.”

Meta joined the Crypto Open Patent Alliance (COPA) earlier this year, a group of firms led by Block Inc’s Jack Dorsey pledged to promote open access to cryptocurrency technologies.

Investors of Indian hotels to receive a warm stay

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BRL Editor

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April 7, 2022

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With covid cases diminishing and mobility restrictions lifted, the hospitality industry, significantly harmed during the pandemic, is ready for a strong recovery. The resumption of scheduled commercial international flights, as well as a predicted increase in business travel as firms organize more offline meetings and conferences, are reasons that are likely to enhance demand.

The stock market reflects this optimism in the hotel industry. For example, the Indian Hotels Co. Ltd saw its stock hit a 52-week high on the NSE on Wednesday.

There is also an unmet leisure and wedding demand resulting from the Omicron coronavirus strain, which forced many such plans to be postponed.

“According to the India Hospitality Industry Overview 2021 by HVS Anarock, industry level occupancies are expected to touch pre-covid levels of 66% in CY22E/FY23E and reach 70% in CY24E,” said analysts at ICICI Securities in a report on April 6.

Due to a lack of significant supply addition in the last two years, coupled with strong demand, pricing power has increased. As a result, in FY23E, the average room rate is expected to return to pre-covid levels.

It also benefits Indian Hotels that the business recently funded 2,000 crores through a qualified institutional placement issue completed on March 25. This signifies that the balance sheet is debt-free.

The restrictions enforced to contain the spread of coronavirus over the last two years have harmed Indian Hotels’ cash flows, resulting in a 0.9x consolidated net debt to equity ratio in H1FY22, up from 0.4x in FY20. As a result, the free cash flow generated might be used to deal with anticipated covid wave interruptions or to boost operations.

On the back of bids to lower fixed costs and staff-to-room ratio, ICICI Securities forecasts Ebitda margins to climb to 29% in FY23E from 22% in FY20. But, even yet, considerable margin pressures exist.

“Sharp rise in margin is likely to be curbed by wage inflation. Many employees were let go in the past two years as covid impacted operations of the sector. As demand recoups, the workforce has to be increased which means there will be additional costs involved in bringing back the employees and training them,” said Vikas Ahuja, an analyst at Antique Stock Broking.

The possibility of demand not returning to predicted levels and a resurgence of covid cases could depress attitudes. Moreover, given that Indian Hotels’ stock is trading near all-time highs, sharp near-term upsides may be capped.

IndiQube receives $30mn from promoters & WestBridge Capital

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April 6, 2022

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IndiQube, a flexible workspace provider, has raised $30 million in funding from its promoters, WestBridge Capital, and angel investor Ashish Gupta. The promoters have put up $17 million out of $30 million.

It plans to use the funds to double its commercial real estate footprint across India, expand into Tier-II cities, and improve technology integration.

Rishi Das, the co-founder of the company, said, “Over the next two years, we plan to more than double our PAN India footprint to over 10 million sq ft, venture into 15+ Tier II cities and further ramp up technology integration, creating a consistent experience for our clients.”

It has expanded into Coimbatore, signing over 1 lakh sq ft of space.

“We had an amazing year adding 100+ clients to our portfolio with over 1.2 million sq ft in incremental signups,” said Meghna Agarwal, co-founder.

The company, founded in 2015, already has over 4.5 million sq ft of office space split among 60+ locations in eight cities.

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