Archives February 2024

New Delhi, 09th February 2024:  Piccadily Agro Industries Limited (PAIL), the largest independent manufacturer of malt spirits in India and makers of the award-winning Indri single malt whisky, today announced its outstanding performance for the third quarter of the FY 23-24.

The company has achieved an unprecedented revenue growth of 55.89% QoQ and an increase in profitability of 558.65 % QoQ across various key metrics, showcasing its resilience and strategic prowess in navigating challenging market conditions.

Piccadily Agro Industries Limited Q3 FY23-24 Results – Summary

• Revenue – ₹191.9 crores
• Net Profit – ₹45.03 crores
• Net Profit Margin – 23.61%  

 Key Highlights of Q3 Performance:

Record-Breaking Revenue: PAIL experienced a record-breaking surge in revenue of ₹192 crores, surpassing previous records and exceeding market expectation with a net profit margin growth of 322.5%.

This substantial growth is attributed to an overwhelming performance by Piccadily Distilleries, led by its flagship brand Indri – Trini Indian single malt whisky and malt manufacturing.

This is a testament to the company’s robust business model and unwavering commitment to delivering value to its shareholders. 

Profit Margin Expansion: The third quarter witnessed an exponential growth in profit from ₹6.88 crores in FY23 to ₹45.31 crores in FY24 with a profitability growth of 559 %

Speaking on the milestone achievement, Siddhartha Sharma, Founder, Piccadily Agro Industries Limited, said “We are extremely pleased with the exceptional growth achieved during the third quarter. This achievement is a testament to the dedication and hard work of our team, as well as our commitment to operational excellence and innovation. Looking ahead, we are confident in the division’s ability to maintain this momentum and drive continued success for the company.”

New Delhi, February 09th, 2024: In a significant move to streamline access to essential household commodities, the Open Network for Digital Commerce (ONDC), the National Cooperative Consumers’ Federation of India (NCCF), and Shiprocket have joined forces to support the government’s “Sarkar se Rasoi Tak” initiative. This collaboration aims to deliver key staples such as Aata, Dal and Chaawal directly to consumers’ homes via the ONDC network, ensuring affordability and convenience.

Through this initiative, residents of the Delhi NCR region (Gurgaon and Faridabad) will be able to order Bharat brand rice (Bharat Chawal), wheat flour (Bharat Atta), and lentils (Bharat Daal) online with the guarantee of government-approved prices. Orders are shipped within 24 hours and free of delivery charges.

Consumers can place orders for these products through ONDC-supported buyer applications such as Paytm, Magicpin, Mystore, and Pincode, ensuring an efficient and hassle-free shopping experience. This initiative not only promises to make essential staples readily available but also supports local sourcing, reflecting India’s commitment to agricultural heritage, self-reliance, and sustainability.

Additionally, Shiprocket aims to enhance the seller experience on the ONDC Network by offering streamlined onboarding and comprehensive post-support services. This will further enable sellers to broaden their customer base.

T Koshy, Managing Director and CEO at ONDC, stated, “The ‘Sarkar se Rasoi Tak’ initiative epitomizes the transformative power of digital commerce in democratizing access to essential goods. ONDC is proud to participate in this collaborative effort to promote inclusivity and empower consumers across India. By leveraging the ONDC Network, we are enabling consumers to connect directly with local cooperatives and experience the richness of Bharat’s agricultural heritage.”

Anice Joseph Chandra, Managing Director at NCCF, added “We are delighted to partner with the ONDC Network on this forward-thinking initiative, which aligns with NCCF’s mission to deliver quality essentials at affordable prices. Leveraging the ONDC Network’s wide reach and advanced technology, we’re set to redefine access to essential commodities.”

Speaking about the initiative, Saahil Goel, CEO & Co-Founder of Shiprocket said, “ As an eCommerce enablement platform we align with the innovative e-Governance initiative – “Sarkar se Rasoi Tak” whereby, by working together with ONDC and NCCF, we aim to bridge the gap between consumers and locally sourced products. While this initiative is currently running in the Delhi-NCR region, we plan to expand it to other cities of the country via multiple collaborations. Aligning with the Government’s mission Shiprocket continues to support local small-scale merchants, we’ve observed the immense potential of Indian MSMEs. Thus, at the heart of Shiprocket, lies a fervent dedication to empower #Vocalforlocal.

Delhi, 09th February 2024: Haleon India, (erstwhile GlaxoSmithKline Consumer Healthcare) has bagged the prestigious Great Place To Work® certification in India, valid through July 2025. As one of the fastest growing science-led, consumer health organization, Haleon has always strived to foster a workplace where every individual can be at their best inside out and thrive. This certification exemplifies its unwavering commitment towards employee satisfaction and in building a high-performance, positive workplace for all.

Great Place To Work®, the global authority on workplace culture, since its inception in 1992, is conferred upon organizations that exhibit exceptional employee experiences. Backed by 30 years of data, Great Place To Work partners with over 100 million employees worldwide to conduct comprehensive surveys and rigorous assessment process to demonstrate best-in-class people practices for evaluating workplace’s trust index and culture audit attributes. Haleon India has demonstrated remarkable results in Great Place to Work’s proprietary methodology.

Feeling proud, Mr Navneet Saluja, General Manager, BU, Haleon India Sub-Continent, said, “We’re profoundly grateful to have received this prestigious title, recognizing our work environment and people practices. Being an employee-first organization, we are proud to instill trust within our employees and foster the commitment to help achieve common goals of success. A heartfelt thank you to all our employees who contribute to making Haleon India an outstanding workplace every day with their positive approach and serious commitment towards our vision of delivering better everyday health with humanity.”

Haleon is committed to drive equity and inclusion with humanity; within its teams, through its products and in the communities, it serves in the country. Embracing diverse backgrounds, experiences, and perspectives, Haleon is constantly seeking to create a workforce which reflects its consumers and communities.

Delhi, 9th February 2024: ControlZ, a leading brand in the premium renewed smartphones segment, today announced that it has raised $3 million in its seed funding, co-led by 9 Unicorn and Venture Catalysts, a prominent venture capital firm, and a leading investment group respectively. This funding is a combination of debt and equity. The company is set to capitalize on the funding to further fortify its automation excellence while benchmarking towards advanced testing labs on par with OEMs to ensure just like new smartphones in the pre-owned category.

This funding is a testament to ControlZ’s marquee position in the industry, as the only company raising the bar of quality in the pre-owned smartphone segment through its globally recognised technologically advanced renewal processes. The brand aims to strategically deploy this capital injection to drive growth and bring in advancements in the overall ecosystem with the core objective of further elevating the quality of its products and reducing costs for its customers.

The company is vividly known for increasing the phone’s lifecycle to the longest and thereby trying to reduce the environmental impact of manufacturing new devices.

“We are thrilled to have secured this key funding from our investors. With this development, we are certain about raising the overall industry standards,” said Mr. Yug Bhatia, Founder and CEO of ControlZ. “This funding is not only a significant milestone for ControlZ, but it also represents a shared belief in our ambition to organize the pre-owned smartphone industry. With these resources, we aim to further strengthen our technology by automating the complete renewal process. Our efforts are towards increasing the lifecycle of as many devices possible because if a fraction of the resources used in making new phones were used in renewing, the world would be a better place,” he continued.

Dr Apoorva Ranjan Sharma, Cofounder and Managing Director, Venture Catalysts stated, “Our investment in ControlZ asserts and strengthens our commitment as an investor to helping scale startups working in the sustainable sector. ControlZ is making a massive impact on the environment by helping reduce e-waste in the $70 billion pre-owned smartphone segment. We expect ControlZ to be a market leader in the segment in the next three years with their advanced facility for premium brands thus accelerating their positioning in this fast-growing sector while making an impactful environmental difference.”

Since its launch, ControlZ has aimed to revolutionize the renewed smartphone industry by offering products that are ‘Just like New’. The successful seed funding round marks a significant milestone for ControlZ, bolstering its position as a leading player in the renewed smartphone space. The company is excited to embark on the next phase of its journey, utilizing the new capital injection to drive innovation and positively impact the industry.

Bengaluru, February 9th, 2024: BHIVE Properties, the commercial real estate investment arm of BHIVE Group, which also runs the largest coworking brand of Bengaluru, BHIVE Workspace, today announced its first-ever sale of hard commercial real estate of a Grade A commercial property in Bengaluru, allowing retail investors to earn attractive annual rentals of up to 10.6% on their investment. Retail investors will have direct ownership of an allotted area under an undivided share of the property while reaping rich dividends out of their investments in the form of monthly rentals.

The Grade A commercial property is housed at the Summit A – 8th floor of Brigade Metropolis, a marquee property by Brigade Group, spanning 22940 sq. ft amounting to a property value of approximately Rs 8,936 per square ft. This property has been pre-leased for a term of 15 years which will provide stable monthly returns to investors. It is currently tied up with BHIVE Properties to sell through a secondary sale. Considering both property appreciation and rental yield, the internal rate of return (IRR) for investors is expected to exceed 15% per annum. Furthermore, the property is right in front of the Garudacharapalya metro station of the most popular Purple Line of the Namma metro which runs for 18.2 km from Whitefield, Singayyanapalya or Mahadevapura to Indiranagar, MG Road and connects major city centres and technology parks including Bagmane World Technology Centre.

Commenting on the launch, Shesh Paplikar, Founder and CEO of BHIVE Group said, “While we have been waiting for regulation around MSM REITs to be out, we realised that there is a huge pent-up demand from retail investors to invest in commercial real estate through traditional means. They are very keen to have their sale deed and Khata. So we procured the RERA broker licence, to provide traditional real estate offerings. The traditional real estate offering is also well understood by banks and financial institutions making inheritance and mortgage processes much easier than some of the new-age financial products. We have been receiving an overwhelming response so far and expect the opportunity to get sold out shortly.”

Brigade Metropolis is in close proximity to other commercial properties, housing technology companies and residential localities, making it ideal for occupiers and employees. These factors make it attractive for investors as the commercial space witnesses high occupancy consistently. This also assumes significance given the attractiveness of Bengaluru’s commercial real estate which is attracting domestic and global technology giants and startups.

“I have been a believer in BHIVE for many years now. Happy to finally see BHIVE launch this hard real estate opportunity in Bangalore. Looking forward to exploring this for my potential investments.”, said Manjunath Rao, an avid investor.

According to property consultant CBRE, Bengaluru is the biggest office space market in India, accounting for 29% of the total supply in India. The new office space supply across the top seven cities is expected to exceed 165 million square feet between 2023-25 with Bengaluru leading the office space supply, accounting for 29% of the total supply in India.

Rental income from residential real estate is around 2.5% per annum, while commercial real estate rental income is upwards of 8% per annum. Because of the high ticket size of commercial property investments, only ultra HNIs and institutional investors had the access and opportunity to invest in this high-yield asset class. BHIVE is now avidly working towards making high-return generating commercial real estate properties more accessible to retail investors.

As the season of romance approaches, Rangriti, known for its fashionable silhouettes and trendy ethnic wear, presents its much awaited Spring Summer collection. Every piece of the collection is carefully chosen that depicts their unique aesthetic while reflecting the essence of the season, with dresses to perfectly pair with contemporary jewellery this valentines day.

Whether you or your beau is arranging an intimate affair or a relaxing evening, Rangriti’s collection offers a wide variety of fashionable choices to meet every celebration. No less than an ode to the convergence of tradition and modernity, features an exquisite variety of styles including Solid coloured and patterned elegant kurtas, Versatile palazzos, fitted suits, and Indie clothing and pastel palette for Suit sets to complement the spring that embodies love.

Every piece is carefully crafted to accentuate and highlight your taste and confidence. Every element has been designed to elevate the occasion, from the beautiful romantic hues of pastels, pinks, and reds to the detailed workmanship.

“Our latest collection balances modernity and refinement making our customers stand out, ” stated Managing Director of Rangriti, Siddharth Bindra.

Available At –
All EBO’S and MBO’S
Flipkart, Amazon,Myntra, Ajio,Tata Cliq,Nykaa Fashion

Website – www. Rangriti.com
Facebook – www.facebook.com/RangritiIndia

Mumbai, February 09, 2024: Arkade Developers Ltd. (formerly known as Arkade Developers Pvt. Ltd.) a fast growing real estate development company with a significant presence in Mumbai, Maharashtra (Source: Anarock Report), is pleased to announce the launch of Phase 1 of Arkade Nest, an exclusive residential project located in Sarvodaya Nagar, Mulund West. The project spans over a 2-acre plot with a total of Six wings out of which right now three wings are launched.

In addition to this milestone and the launch of Arkade Nest, Arkade has also successfully secured redevelopment agreements for two projects in western suburbs of Mumbai. The redevelopment projects are – the Arunachal Co-op HSG Society at Jay Prakash Nagar, Goregaon East and the Nutan Ayojan Co-op HSG Society in Liberty Garden, Malad West.

Commenting on the launch Mr. Amit Jain, CMD, Arkade Developers Limited, said, “Arkade is pleased to be launching Phase 1 of Arkade Nest, which serves as a testimony to our commitment to offering luxury residences in prominent regions of Mumbai. With focus on our blended model of Greenfield and Redevelopment projects we are happy to announce two redevelopment projects in Goregaon East and Malad West.”

The new redevelopment projects and launch of Arkade Nest are in line with Arkade’s commitment and focus to deliver affordable luxury residential premises to its buyers in high density regions of MMR, Maharashtra while placing a premium on construction quality and catering to aspirational life-style choices.

In addition, Nutan Ayojan Co-op HSG Society in Liberty Garden is situated in Malad West with a plot size of 6830 sq mt. and offers an approx saleable carpet area of 1 lac sqft. After the successful completion of the Arkade Serene in Sunder Nagar and the recent launch of Arkade Eden in Sunder Nagar, this venture is again Arkade’s third project in Malad West Micro Market.

The Arunachal Co-op HSG Society redevelopment project at Jay Prakash Nagar is spread across a plot size of 4487 sq mt. and is anticipated to have an approx saleable carpet area of 82000 sqft. Notably, this marks Arkade’s third venture in Goregaon East’s Jayprakash Nagar, after Arkade Adornia and Arkade Aspire.

New Delhi, 09 February 2024: India has been established as a super power in many sectors, including space, which is known to be the bastion of few advanced nations. Expected to emerge as the third largest economy by 2030, India is one of the fastest adopters of technology (1.2B+ mobile subscribers, over 10B monthly digital payments, and third largest startup ecosystem). While sectors like agriculture, education and retail are benefitting from the technology enabled boom, the healthcare sector is yet to make use of this untapped potential.

The Indian healthcare sector still is dependent on the brick & mortar approach of allowing access to medicines through physical shops only. According to a report by Copenhagen Economics, 57% of respondents in the EU who used online dispensing services believe that such access helps improve adherence to medication. 80% also said that they prefer home delivery, and more than 65% of pharmacy owners from France, Italy, and Spain are willing to sell online if government restrictions on online access to prescription of medicines are lifted.

Mr. K. Giri, Secretary General, Empower India underscored the importance of adoption of e-pharmacy stating, “In an era where digital solutions are transforming ways of living, Indian regulators must incentivize offline pharmacy stores to sell medicines through e-commerce. This will not only increase their earning but also result in access to prescribed medicines at an uniform rate for the consumers. Drawing inspiration from Europe’s achievements, India can spearhead its evolution towards a more accessible and patient-centric healthcare landscape.”

He added, “E-pharmacy has proven to be a boon for patients globally, and India stands to gain immensely by embracing this modern healthcare solution. However, to leverage these advantages, regulatory bodies must adopt flexible policies that facilitate seamless purchasing of online medicine and prescriptions. Similar to Europe, India’s policymakers should implement adaptable regulatory frameworks that promote e-pharmacy growth while safeguarding patient interests.”

India’s e-pharmacy market is expected to reach INR 89.47 Bn by 2027, showcasing immense potential for both conventional e-commerce platforms and brick-and-mortar stores to capitalize on this burgeoning sector. E-commerce platforms are catering to consumer demands by offering a streamlined experience and end-to-end solutions that save time and provide flexibility. The availability of prescribed salt at an uniform price, convenience of ordering medicines from remote locations and arrangements for a specialist discussion (E-counsel) will be driving factors for the same.

While e-pharmacy still contributes to over 70% of the overall revenue for digital health players, there is an increased focus on building a broader digital health offering – teleconsultation, diagnostics, care packages, and surgery assistance. Still being at a nascent stage, ‘Digital Health’ can help India bridge the health divide by eliminating geographical constraints in the supply (providers) and demand (patients) construct. For instance, a customer living in the small town of Asansol can consult a pediatrician in Delhi within minutes and a customer in Kapurthala can conveniently get doorstep delivery of medicines which are unavailable in her town. Moreover, patients with physical conditions or illnesses can order medicines whenever they need with the round-the-clock access of online pharmacies.

09^th February 2024; Mumbai, India: Leading independent full-service digital agency, TheSmallBigIdea, celebrates a decade of innovation, creativity, and unrivalled growth. In conjunction with this significant milestone, TheSmallBigIdea now unveils its refreshed brand identity with a new logo and credo ‘What’s Next!’. Backed with its renewed vision and brand refresh, TheSmallBigIdea is committed to staying at the forefront of digital disruption while evolving and crafting another decade of many firsts.

 Synonymous with its purpose and journey towards redefining the ‘next’ in advertising, TheSmallBigIdea’s new identity is inspired by the symbiotic relationship between insight, idea, and execution. The identity is a visual representation of the agency’s commitment to contributing to the sector with new-age, unconventional, and out-of-the-box strategies.

 Speaking on this milestone and new brand identity, Harikrishnan Pillai, CEO and Co-Founder, TheSmallBigIdea, said, “We are committed to directing our gaze towards the future while drawing inspiration from the past decade. The brand ethos guiding our journey ahead is, ‘What’s Next!’. At TheSmallBigIdea, we are dedicated to inspiring both our teams and clients to contemplate the future of content marketing, performance marketing, and technology, and constantly push boundaries in advertising. Our focus extends beyond business development; it encompasses nurturing individuals and building professional careers in advertising.”

 Manish Solanki, COO and Co-Founder, TheSmallBigIdea, added, “As we mark a significant milestone, we express our gratitude to all our team members, clients, and partners. This 10-year journey has been phenomenal. Over these years, our unwavering commitment, endless creativity, and transformative growth have been instrumental to our success. We are ready to push our boundaries, deliver exceptional results, and create remarkable experiences.”

 With a remarkable journey spanning a decade, TheSmallBigIdea has solidified its standing as a leading force in the digital landscape, catering to diverse sectors including Entertainment, Sports, Fashion, Real Estate, BFSI, E-Commerce, and Technology, among others. The agency was also awarded with the coveted Great Place To Work® Certification in 2023. Marking the agency’s international foray with their first overseas office in Dubai, TheSmallBigIdea recently expanded its operations to the Middle East and North Africa (MENA) region.

 In 2023, TSBI Studios, the production arm of TheSmallBigIdea, crafted over 100 ad films and digital videos for leading brands like ICICI Direct, AGL Tiles, and Adani Sportsline. In addition to this, the company expanded its portfolio by building a specialist division that supports brands in their ‘Digital Transformation’ journey. More recently, the introduction of a dedicated ‘Sports Marketing’ unit and an ‘Artist Management’ team has enabled TheSmallBigIdea to diversify into other avenues with robust partnerships. The agency’s reputation for seamlessly entering and dominating new categories is well-established, reinforcing its commitment to staying ahead with its mantra of ‘What’s Next!’.

Synonymous with its purpose and journey towards redefining the ‘next’ in advertising, TheSmallBigIdea’s new identity is inspired by the symbiotic relationship between insight, idea, and execution. The identity is a visual representation of the agency’s commitment to contributing to the sector with new-age, unconventional, and out-of-the-box strategies.

Speaking on this milestone and new brand identity, Harikrishnan Pillai, CEO and Co-Founder, TheSmallBigIdea, said, “We are committed to directing our gaze towards the future while drawing inspiration from the past decade. The brand ethos guiding our journey ahead is, ‘What’s Next!’. At TheSmallBigIdea, we are dedicated to inspiring both our teams and clients to contemplate the future of content marketing, performance marketing, and technology, and constantly push boundaries in advertising. Our focus extends beyond business development; it encompasses nurturing individuals and building professional careers in advertising.”

Manish Solanki, COO and Co-Founder, TheSmallBigIdea, added, “As we mark a significant milestone, we express our gratitude to all our team members, clients, and partners. This 10-year journey has been phenomenal. Over these years, our unwavering commitment, endless creativity, and transformative growth have been instrumental to our success. We are ready to push our boundaries, deliver exceptional results, and create remarkable experiences.”

With a remarkable journey spanning a decade, TheSmallBigIdea has solidified its standing as a leading force in the digital landscape, catering to diverse sectors including Entertainment, Sports, Fashion, Real Estate, BFSI, E-Commerce, and Technology, among others. The agency was also awarded with the coveted Great Place To Work® Certification in 2023. Marking the agency’s international foray with their first overseas office in Dubai, TheSmallBigIdea recently expanded its operations to the Middle East and North Africa (MENA) region.

In 2023, TSBI Studios, the production arm of TheSmallBigIdea, crafted over 100 ad films and digital videos for leading brands like ICICI Direct, AGL Tiles, and Adani Sportsline. In addition to this, the company expanded its portfolio by building a specialist division that supports brands in their ‘Digital Transformation’ journey. More recently, the introduction of a dedicated ‘Sports Marketing’ unit and an ‘Artist Management’ team has enabled TheSmallBigIdea to diversify into other avenues with robust partnerships. The agency’s reputation for seamlessly entering and dominating new categories is well-established, reinforcing its commitment to staying ahead with its mantra of ‘What’s Next!’.