Archives April 2024

Mumbai, 16th April 2024: The ANAROCK Capital FLUX report for FY2024 finds that the aggregate value of private equity deals in Indian real estate has declined steadily over the past 5 years – from USD 5.1 Bn in FY20 to USD 3.7 Bn in FY24.

	Amount (USD Mn)
FY20	5,138
FY21	6,377
FY22	4,236
FY23	4,358
FY24	3,674

 

“The decline in PE investments in Indian real estate has been due to lower activity by foreign investors, due to global macro-economic factors and geopolitical instability,” says Shobhit Agarwal, MD & CEO – ANAROCK Capital. ”The share of foreign capital in total investments declined to 65% in FY24, against 78% in FY20. Correspondingly, investments by domestic investors have increased to 29% of the total capital inflows into Indian real estate in FY24, as compared to merely 8% in FY20.”

 

 

Top 10 PE Deals in FY24

Top 5 Equity Deals

 

Investors	Investee Company	Amount (INR Cr)	Amount (USD Mn)
GIC + Brookfield REIT	Brookfield	11,596	1,400
CPPIB	RMZ	2,650	325
Kotak – ADIA	Prestige Estates	2,001	240
Edelweiss Alternative Funds	MFAR	1,475	178
Morgan Stanley	Prakhhyat Group	700	85

 

Top 5 Debt Deals

 

Investors	Company	Amount (INR Cr)	Amount (USD Mn)
Varde	Phoenix Group	750	91
HDFC Capital	CCI Projects	560	68
PAG	Kalpataru	525	63
PAG	M3M India	400	48
Edelweiss Special Opportunity Fund	Adarsh Developers	350	42

 

The share of the top 10 deals has increased primarily due to the USD 1.4 Bn GIC-Brookfield deal (approx..40% of the overall deal value for FY24), reported at the beginning of FY24.

 

Share of top 10 deals – FY23: 54%, FY24: 72.5%

 

No. of Deals & Average Ticket Size

While the number of deals in FY24 is largely constant, the aggregate deal value has reduced due to a sharply lower average deal size. The average ticket sizes have reduced by 30% – to USD 75 Mn in FY24 from USD 107 Mn in FY20.

 

	No. of deals	Average Deal Size (USD Mn)
FY20	48	107.0
FY21	43	148.3
FY22	54	78.4
FY23	55	79.2
FY24	49	75.0

 

Movement of Capital Inflow

 

Multi-city transactions clearly stole the limelight during FY24, with the GIC-Brookfield transaction and the fund raised by Prestige Estates. NCR witnessed a relatively muted year, while MMR continued to dominate city-specific deal tables.

 

	FY23	FY24
NCR	30%	9%
MMR	13%	25%
Bengaluru	16%	8%
Chennai	7%	1%
Hyderabad	4%	7%
Pune	2%	1%
Multiple	16%	49%
Others	11%	0%

 

Equity vs Debt Funding

 

PE investors prefer equity investments, as evidenced by the fact that the share of equity deals remains healthy and at par with the average of ~75% in the past 5 years.

 

	Debt	Equity
FY20	26%	74%
FY21	11%	88%
FY22	20%	78%
FY23	32%	66%
FY24	24%	73%

 

Asset Class-wise Funding

 

The commercial offices segment dominated PE transactions in FY24 with a 57% value share. This was largely due to the GIC-Brookfield deal, which accounted for approx.40% of total transaction value in FY24.

 

	FY23	FY24
Offices	38%	57%
Residential	28%	28%
Industrial & Logistics	6%	10%
Data Centre	3%	2%
Land	4%	2%
Portfolio / Mixed use / Entity	10%	2%
Others	11%	0%

 

“While there has been a consistent share of PE investments in residential real estate at 28% YoY, there is a yearly decline of 17% in the same by value,” says Shobhit Agarwal. “This is due to a very high base in FY23, when investments had doubled over the previous years.”

 

         (in USD Bn)

	FY20	FY21	FY22	FY23	FY24
Residential	0.6	0.7	0.6	1.2	1.0

 

Domestic vs Foreign Funding

 

In the overall investments during FY24, foreign capital saw its share drop to 65% in FY24 while the share of domestic investors rose to 29% (against 8% in FY20).

 

	Foreign	Domestic
FY20	78%	8%
FY21	95%	5%
FY22	83%	14%
FY23	76%	24%
FY24	65%	29%

 

For all charts:

Numbers rounded off to the nearest decimal; All transactions in USD ($) unless otherwise stated

FY = Financial Year (1^st April – 31^st March)

Source: ANAROCK Capital Market Research

 

FY24: Key Highlights & Events

• Residential

 “Residential real estate witnessed another year of a strong upcycle due to increased project launches, sales volumes, and price appreciation. Demand for affordable housing reduced, and that for larger homes increased,” says Aashiesh Agarwaal, SVP – Research & Investment Advisory, ANAROCK Capital. “The luxury homes market continues to post a robust performance. Interestingly, demand for under construction properties rose sharply during the year. The improved sentiment has also encouraged large investor to increase their participation in the market. However, the aggregate investment in the sector is lower than in FY23, due to some larger-than-average transactions during the last year.”

 

• Commercial Office

 

Commercial real estate deals remained very thin on the ground, due to multiple factors such as the delayed notification of SEZ amendments, elevated interest rates, and global uncertainties. However, given strong demand fundamentals of commercial real estate, driven by leading IT companies’ determined push to return to office, increased traction of co-working spaces, a favorable capex cycle, the amendment of SEZ laws, and expectations of lower interests, commercial office real estate activity should strengthen over the coming quarters.

 

• Retail

 

The retail segment of Indian real estate is thriving due to economic growth. Key names in the nation’s mall development arena, including DLF, Lakeshore, Inorbit, Nexus and Phoenix, are aggressively pursuing expansion. This surge in capital allocations aligns with the expansion strategies of leading retailers, resulting in a substantial uptick in store numbers. Rentals are expected to firm up, since economic buoyancy and robust consumer sentiment has led to healthy demand and trading densities for retail assets.

 

• Industrial & Logistics

 

The industrial & logistics segment continues to hold promise for investors, with strong growth prospects on the back of robust consumption and expectations of manufacturing-led growth. While transactions in this segment were thin in FY24, they are expected to revive in FY25.

 

• SM REITs

 

Towards the end of FY24, SEBI notified amendments to REIT regulations, paving the way for Small and Medium Real Estate Investment Trusts (SM REITs). This move aims to regulate fractional ownership of properties. Under these regulations, the minimum subscription size is INR 10 lakhs, the minimum number of investors is 200, and asset size can range between INR 50 Cr to INR 500 Cr.

 

• Stressed Assets

 

While this segment has seen the emergence of a class of investors specializing in stressed asset resolutions, lenders are increasingly likely to settle with the promoters to avoid litigations.

 

• AIFs

 

In December 2023, RBI issued a circular barring lender from investing in AIFs where the AIFs had lent downstream to companies wherein the lender had exposures. For existing investments, lenders were required to liquidate within 30 days or to set aside higher provisioning (100%) for their investments in such AIFs.

 

However, the end of March 2024 brought a breather – lenders were allowed to invest AIFs which has invested in a debtor company of the former. The RBI also gave relief on provisioning norms – provisioning would be required only to the extent of the lender’s investment in the AIF scheme, which is further invested by the fund in the debtor company.

 

India, 16th April 2024: Pravaig, a fast-emerging Indian company with expertise in deep tech and manufacturing building EVs, advanced batteries, and AI products in India, has today announced the launch of Nritya Mandap Cufflinks on the auspicious occasion of Rama Navami. The cufflinks, priced at INR 3,900, are crafted using Pravaig’s AI tools. Following the unveiling of the Kedarnath-inspired Cufflinks, Pravaig marks yet another milestone for its AI product line with this launch. Pravaig blends AI design with spirituality in its latest fashion addition with India-inspired Cufflinks showcasing the brand’s cutting-edge technology and reverence for heritage.

Inspired by the revered Nritya Mandap of the Ram Mandir in Ayodhya, these limited-edition cufflinks encapsulate the essence of Indian heritage in a contemporary fashion statement. Crafted with meticulous precision and reverence for tradition, each pair of Nritya Mandap Cufflinks epitomises the timeless elegance of Vedic architecture while seamlessly blending with modern design principles.

In a world where tradition meets innovation, Pravaig continues to redefine standards of excellence and creativity. The Nritya Mandap Cufflinks represent a harmonious fusion of heritage and contemporary aesthetics, embodying the ethos of Vedic Futurism.

With its AI Labs, a specialised Technology backed Designing and Manufacturing arm, Pravaig is committed to build India’s technological foundation. Conceptualised using generative AI and manufactured using 3D printers, under their AI Labs, the limited-edition Cufflink is a testament towards the Pravaig’s focus on creating edgy Indian products for the world.

Commenting on the launch, Mr. Ram Divedi, CSO and Co-Founder, Pravaig, said, “Technology has never been more omnipresent yet inaccessible. We, at Pravaig, are committed to democratise technology by continuously innovating to meet the ever-evolving needs of our consumers. We are excited to expand our lifestyle product portfolio with the new Cufflinks, blending fashion with functionality.”

He added, “Our Ram Mandir Cufflinks are a special addition, inspired by the profound significance of the Ayodhya temple. They symbolize not just style, but also reverence for our cultural heritage. We’re proud to offer products that reflect the values and traditions that are essential to our customers”.

Each of these products are limited edition and showcases the essence of spirituality or heritage. This one is dedicated to the Ram Mandir while incorporating contemporary design elements, reflecting a seamless blend of tradition and modernity. Just as the temple stands as a symbol of faith and unity, these cufflinks serve as a tangible representation of devotion and reverence for consumers.

Pravaig’s Ram Mandir Cufflinks encapsulate the sacred aura of the historic temple in Ayodhya, intertwining tradition with modern elegance. Each pair embodies the reverence and cultural significance of the Ram Mandir, serving as a treasured adornment for every momentous event.

Chennai, 16th April 2024: Apollo Proton Cancer Centre (APCC), South East Asia’s first and largest proton therapy center, successfully treated a rare skull base tumor in a 30-year-old athlete from Bahrain. Led by Dr. Joy Varghese, Senior Consultant – Neurosurgeon & Neuro-Interventional Surgeon, Apollo Proton Cancer Centre, Chennai, and Dr.Venkat Karthikeyan, Senior Consultant – ENT Skull Base Surgeon, Apollo Proton Cancer Centre, Chennai, the team carried out the complex surgery which spanned over 26 hours, highlighting the center’s unwavering commitment to delivering world-class healthcare solutions.

The young woman, an executive at a prominent company and an athlete, was presented with alarming symptoms including two episodes of blackout within a month, loss of sensation around the right ear, and weakness in her right shoulder, particularly noticeable during her athletic pursuits as a triathlete.

Upon thorough radiological imaging, medical experts identified a tumor of moderate size located perilously close to the brainstem, in the right jugular fossa along the skull base. The tumor posed significant challenges due to its location, compressing major blood vessels and impinging on crucial nerves responsible for various functions including swallowing, speaking, and shoulder movement.

Adding to the complexity of the case, angiography revealed an absent venous system on the left side, necessitating meticulous planning to ensure the preservation of the patient’s only jugular vein on which the tumor is piggybacked, crucial for her survival.

Dr. Joy Varghese, Senior Consultant – Neurosurgeon & Neuro-Interventional Surgeon, Apollo Proton Cancer Centre, Chennai, elaborated on the challenges faced during the intricate procedure. “Our primary objective was to remove the tumor while preserving the vital jugular vein intact. This required meticulous dissection and careful management of the surrounding nerves and blood vessels.”

Further, he said that a continuous nerve monitoring and extreme pre-surgical planning were instrumental in achieving the desired outcome for the patient.

The multidisciplinary team employed advanced techniques including sophisticated radiological imaging, per-operative electrophysiological monitoring [ to know the integrity of nerves while operating] and digital subtraction angiography (DSA) to map out the vascular anatomy and execute precise microsurgical excision, ensuring optimal outcomes for the patient.

Dr. Venkat Karthikeyan, Senior Consultant – ENT Skull Base Surgeon, Apollo Proton Cancer Centre, Chennai said, “Post-surgery, the patient experienced remarkable improvement in her condition, with restored speech and swallowing functions, and no recurrence of shoulder weakness. While mild facial weakness was anticipated, she is currently on a path of steady improvement.”

Abida Hussain (name changed on request) said, “The doctors at APCC explained the process step-by-step and a clear picture was provided as far as the procedure was concerned. Along with these details, we were also told about the possible risk factors and the potential complications we may encounter but, I was not afraid as I had the confidence and trusted their expertise.”

Histopathological examination revealed a schwannoma, a rare type of tumor originating from the nerve sheath at the skull base. The patient will continue to receive close follow-up care and rehabilitation to support her ongoing recovery journey.

The successful treatment of this challenging case underscores the dedication and expertise of the medical professionals at Apollo Proton Cancer Centre, Chennai, reaffirming the region’s position as a hub for advanced healthcare solutions.

New Delhi, India –16th April 2024 – Rajiv Gandhi Cancer Institute and Research Centre (RGCIRC) successfully concluded the 29th Annual Conference of the Association of Medical Physicists of India (Northern Chapter). Themed “Technological Advancements: Connecting Roots to Future in Cancer Cure,” the event was a critical platform for addressing the escalating cancer cases in India through the lens of advanced medical physics.

The conference spotlighted the crucial role of medical physicists in revolutionizing cancer care through cutting-edge technologies and innovative research. With cancer cases on the rise in India, the application of new technologies, precision, and effective procedures was emphasized as essential for enhancing diagnostic accuracies and treatment efficacies. Renowned speakers from leading institutions globally, including AIIMS and IIT Delhi, shared insights into the latest advancements and the dynamic future of oncological practices.

Dr. D.S. Mehta, Professor at the Indian Institute of Technology, Delhi, and one of the guest speakers showcased collaborative research in advanced diagnostic tools that employ optical imaging combined with artificial intelligence to achieve early cancer detection. Dr. Anil Agarwal, Medical Director at G B Pant Hospital and the chief guest, highlighted the vital contributions of medical physicists in improving outcomes for cancer patients. “The evolving role of medical physicists is instrumental in our fight against cancer, especially as we face a rising tide of cases in India,” he remarked.

Dr. Munish Gairola, Director of Radiation Oncology at RGCIRC and the organizing committee chairman, expressed his satisfaction with the event’s success. “This conference has not only set a new benchmark for future forums in the field of medical physics but also outlined clear, actionable strategies to combat the rising incidence of cancer in India through technological innovation. Our collective expertise and commitment to innovation are not just addressing the challenges we face today—they are paving the way for a future where advanced, precise, and compassionate care becomes the norm” he stated.

Over the two-day conference, discussions covered a broad spectrum of topics, from AI integration in diagnostic processes to the latest developments in proton therapy and high-precision radiotherapy techniques. These discussions underscored the need for a multi-faceted approach to cancer treatment, blending traditional medical practices with futuristic technologies to improve patient outcomes across India.

Dr. Ajay Srivastava, Chairman of AMPI-NC and a professor of medical physics at LLRM, Meerut, added, “This conference has once again illuminated the critical role of medical physics in the vanguard of cancer treatment. As we unite the brightest minds in the field, our discussions transcend traditional boundaries, merging cutting-edge technology with clinical precision to forge new pathways in cancer care. The overwhelming participation and rich dialogues here not only reinforce our mission but invigorate our collective resolve to transform patient outcomes through innovation and collaboration.”

Dr. M.K. Semval, President of AMPI-NC, also praised the vital role of Medical Physicists in ensuring the safe and precise application of ionizing radiation for diagnosing and treating cancer.

Dr Manindra Bhushan Mishra, Chief Medical Physicist & Radiation Safety Officer (RSO), and Organizing Secretary of AMPI-NC CON 2024 expressed gratitude to the medical fraternity for their participation and said, “There is a shared commitment to carry forward the knowledge and insights gained, pushing the boundaries of physics and contributing to further advancements in the field.”

The conference also served as a collaborative hub, fostering relationships and setting the stage for future partnerships aimed at combating cancer more effectively. With the participation of experts from various disciplines, the event highlighted the interdisciplinary nature of modern medical treatments and the global effort required to address cancer.

As the curtains fall on AMPI-NC CON 2024, Rajiv Gandhi Cancer Institute and Research Centre (RGCIRC) renews its commitment to spearheading advancements in cancer care, inspired by the pioneering spirit of the medical physics community. The insights garnered from this conference are expected to influence cancer treatment protocols and pave the way for new research initiatives, helping to tackle India’s growing cancer crisis.

Indore, 16th April 2024: Sayaji Hotels, renowned for its commitment to world-class hospitality services, proudly announced the launch of its revamped logo as part of their brand entity. The updated logo marks a significant milestone in the company’s journey as it represents a harmonious fusion between tradition and innovation. With the core principles of the brand remaining unchanged, the brand identity has been refreshed to reflect its evolving nature.

“Our logo, the face of our brand, has undergone a subtle yet significant transformation”, remarked Mr. Raoof Razak Dhanani, Managing Director of Sayaji Hotels Ltd. “While preserving the iconic elements that our guests recognize, the refreshed logo embodies a more contemporary and dynamic aesthetic.”

The revitalized logo features vibrant colors and refined lines, serving as a visual testament to the brand’s relentless pursuit of excellence and innovation. Detailed enhancements include a gentle touch of green adorning the tree element, representing growth, vitality, and the group’s unwavering commitment to sustainability and environmental stewardship. Complementing this is a delicate peach line that accentuates the logo’s horizontal aspect, infusing a sense of warmth, elegance, and modernity to the brand.

“The amalgamation of green and peach hues in the logo encapsulates the delicate balance between tradition and innovation, authenticity, and creativity”, shared Ms. Saba Dhanani, Director – Marketing & Communications of Sayaji Hotels Ltd. “It creates a visual identity that is both timeless and contemporary and represents our commitment to staying ahead of the curve in an ever-evolving industry, resonating with guests and stakeholders alike.”

The revitalized visual identity serves as a beacon of the brand’s evolution. With the launch of its upgraded brand entity, Sayaji Hotels reaffirms its commitment to deliver unparalleled experiences while embracing change and innovation.

Mumbai,16th April 2024: Globe Textiles India Limited (GTIL) (NSE: GLOBE), a well-known textile star exporter of fabrics and garments catering to global and domestic markets for the last two decades will add a garment processing capacity of up to 20,000 units per day and 6 Lakh units per month and eyes a 520 Cr top line in next 3 years.

With an environmentally friendly facility with a Zero Liquid Discharge system and partly solar generation which minimizes energy costs while using green energy company expects a 30% uptick in revenue and a top-line of 520 crores by 2027. Positioned as an industry leader in environmental responsibility and fashion-centric customer satisfaction, the company uses nature-friendly dyes and chemicals and has pioneered sustainable processing techniques that give a better hand feel to apparel while minimizing energy consumption and maximizing water recycling through its Zero Liquid Discharge system.

Mr. Bhavin Parikh, Chief Executive Officer at Globe Textiles (India) Limited said, “With the ongoing innovation we are planning to introduce denim tops in the female category and we reaffirm our dedication to sustainability and innovation in the textile industry. After successful rights issue and acquisition, we will enhance our asset base, margins, and top line as well as introduce innovative sustainable fashion garments and practices which are sought after by customers from India, Europe and US.”

Globe Textile has reported a revenue of  in Dec 2023 and has a production capacity of over 2.5 lakh sq. feet where it manufactures, 36 million meters of fabric and 2.5 million bottoms per annum. It has reported robust financial results over the years with a 10-year CAGR of 13 percent in Revenue and 13 percent Net Profit. With a market cap of over 100 Crs and retail shareholding of over 55% industry experts say that “Globe Textile is a stock to watch for a breakout on the charts”

Hyderabad, 16th April,2024: Honda Motorcycle & Scooter India celebrated a significant milestone as it commemorated the 9th anniversary of the Traffic Training Park in Hyderabad in the august presence of Mr. G Harish (Inspector of traffic police Hyderabad and in charge of Traffic Training Institute, Hyderabad). Since its inception, the park has played a pivotal role in promoting road safety and enhancing traffic awareness among citizens.

In 2015, Honda Motorcycle & Scooter India (HMSI) in association with Hyderabad Traffic Police inaugurated the traffic training park in Hyderabad. Situated in the heart of the city, the Traffic Training Park has served as a beacon of education and practical training for participants. Its state-of-the-art facilities and interactive programs have empowered countless individuals with the knowledge and skills necessary for responsible and safe road behaviour.

Since the inception of the Traffic Training Park in the city of Hyderabad, nearly 2 lac people across all age groups have been trained to enhance road safety awareness in the city.

The 9th anniversary celebration was a testament to the park’s enduring impact on the community. Dignitaries, government officials, and representatives from HMSI gathered to mark the occasion and reflect on the park’s accomplishment over the years. The event featured engaging activities covering students of all age groups such as Bicycle Riding Activity, Snake and Ladder, Stop-Look-Go, Safety Gear Awareness and Road Sign Matching games aimed at reinforcing the importance of road safety. The event witnessed engagement of around 25 students from St. Paul’s High-Tech school. Participants also had the opportunity to experience first-hand the various amenities offered by the park, including simulated road circuits, traffic signboards and virtual driving simulations.

Mr. G Harish (Inspector of traffic police in charge of Traffic Training Institute, Hyderabad) shared his valuable insights on road safety to the students by highlighting the importance of a proper driving licence before one starts their driving journey and about the relevance of cultivating the habit of following traffic rules at a very young age.

As HMSI looks ahead to the future, it remains dedicated to further expanding the reach and impact of its Traffic Training Park in Hyderabad and beyond. Through continues collaboration with stakeholders and the community, the company aims to cultivate a culture of responsible road behaviour and ensure safer roads for generations to come.

Honda Motorcycle & Scooter India’s CSR commitment towards Road Safety:

For Honda globally, road safety comes first. As announced in April 2021, “Honda will strive for zero traffic collision fatalities involving Honda motorcycles and automobiles globally by 2050”. Fulfilling its corporate social responsibility (CSR), HMSI has been promoting road safety in India since its start in 2001. Working towards the realisation of Honda’s global safety vision, today HMSI’s road safety awareness initiative has already spread to over 57 lac Indians. Its team of skilled safety instructors conduct daily programmes at its 10 adopted traffic parks across India and 6 Safety Driving Education Centres (SDEC).

HMSI dealerships across India spread road safety awareness. HMSI’s proprietary virtual riding simulator increases the risk-prediction ability of riders; while new customers too are given predelivery safety advise (PDSA) before they start riding at every dealership across India.

New Delhi, 16th April 2024: Acharya Prashant, founder of PrashantAdvait Foundation and former civil service officer, interacted with IIT students on mental health. More than 1000 people from across the country participated in the session. He said that there is a deep connection between the mind and spirituality. The mind can be controlled through spirituality, which strengthens inner peace and provides a feeling of connection with a power greater than oneself.

On Sunday, Acharya Prashant, founder of PrashantAdvait Foundation, inaugurated the workshop on mental health organized under the aegis of the Alumni Association in Dogra Hall of IIT by lighting the lamp. He said that the entire environment of the mind changes rapidly. What do we not change, and even after changing everything, we do not find peace? People change houses, change jobs, and even after changing all this, the mind does not find peace. He said that the mind needs something; without it, it will not stop. Without it, it will keep running here and there. Ultimately, wherever you run, you run with the thought that if you have got this, then you don’t need anything else after this; if you know that even after getting the thing you are running towards, you will need more, then would you run towards it?

Acharya Prashant said that in the race to get ahead and in a hectic life, man has become lonely. We don’t know what we are, why we are living, what our purpose is. Due to these reasons, mental depression is occurring in the youth. He said that first of all, we have to know ourselves. Only spirituality can help us with that. Spirituality can remove the stress from our daily lives. He said that research has proven that spirituality can benefit both the mind and the body.

Spiritual practices help reduce negative emotions, find meaning, and deepen relationships with others. Spirituality helps overcome issues such as self-esteem, low self-confidence, lack of self-control, and fear of daily tasks and challenges. It can also directly strengthen mental health. He said that even those who do not follow any religion can benefit from spirituality, as it is a prevalent concept among secular communities that spirituality is only for some people who are associated with a particular religion, but it is not so. Spirituality is necessary for every human being.

He said that people have never learned to use spiritual resources, whereas they can do so very easily. Acharya Prashant said that the youth need the right guidance, but they do not get it. We also do not know how to live the right life. Any work cannot be chosen to make a career; the right work has to be chosen, and the right work is chosen with self-knowledge.

He said that the Earth’s temperature is increasing, which is a matter of concern. But we are so engrossed in pleasures that we are not able to understand that we do not have much time left. Only two years are left. If we still do not wake up, then it will be too late, and then great destruction is certain. But we do not worry about ourselves. Do you know what belief is embedded in that? ‘We are right, we do not need to worry about ourselves!’ If we have to worry about ourselves, then, first of all, we will have to accept that there is a danger to us, and we need to get right because we are wrong So we do not want to worry about ourselves.

He said that the way humanity is going and the structure of living that we have created now, completely based on ego, will kill us from the outside. And if it does not kill us from the outside by chance, then our destruction is certain from the inside. He said that the ratio of mentally ill people in this world today has never been so high. The average stress levels today were not as high even during the Second World War, nor were they found in soldiers as they are in common people today. Look at the research paper.

When were there as many cases of depression and mental disorders as there are today? We are rapidly moving towards a world in which every person will be mad; healthy from the outside but psycho (mad) from within. What will you do then? Self-knowledge is the only solution.

Before the session, Alumni Association Secretary Pankaj Kapadia honored Acharya Prashant by giving him a memento. During this, IIT Delhi students, faculty, and sadhaks from all over the country participated. After the session, Acharya Prashant gifted a Holistic Individual Development Program (HIDP) created by to the students of IIT Delhi so that they can develop themselves in a spiritual way.

Mumbai, April 15, 2024: The most awaited 4th edition of Fabrics Accessories & Beyond Show 2024 (FAB Show) by Clothing Manufacturers Association of India (CMAI) was inaugurated on April 15, 2024, in the August presence of sourcing heads from renowned brands and retail majors including Aditya Birla Fashion & Retail, Bestseller, Gokaldas Exports, Kora, Mufti, Pepe Jeans, Reliance Brands, Shoppers Stop, Soch, Stori, Spykar, Westside.

During the inauguration CMAI felicitated regional trade associations namely The Southern Gujarat Chamber of Commerce & Industry (SGCCI), Noida Apparel Export Cluster (NAEC), Retail Manufacturing Association of Indore (RMAI), South Indian Garment Association (SIGA), South Gujarat Textile Traders Association (SGTTA), Bangalore Apparel Manufacturers Association (BAMA), among others.

The 4th edition of the FAB Show is being held from April 15 to 17, 2024, at the Bombay Exhibition Centre (NESCO) in Mumbai, showcasing the entire supply chain to Brands, Manufacturers, Retailers, and Exporters expected to visit the show. Exhibiting this year at the FAB Show are over 200 Fabric Suppliers, leading accessory manufacturers, Machinery Suppliers, Real Estate Developers, Software Developers, and services from all across India.

Rajesh Masand, the President, CMAI, said “We are delighted that just in its 4th edition the FAB Show 2024 is already established as the premier convergence hub for the entire garments manufacturing supply chain. The FAB Show serves not only as a platform for showcasing the latest in technological advancements but also as a catalyst for raising awareness about sustainability and understanding evolving consumer preferences, thus shaping the future of the industry. Over 4000 primary members of CMAI will be visiting the FAB show.”

In India’s dynamic textile landscape, a transformation towards sustainability and eco-conscious practices is underway. The Sustainability Zone at the FAB show, drawing large footfalls, promotes innovations in circularity by showcasing fabrics crafted from waste materials and wastewater management. This initiative aims to educate and raise awareness about sustainability, a cornerstone of CMAI’s holistic strategy to engage, educate, and inspire the garment industry.

Speaking about the fair, Naveen Sainani, Chairman FAB sub-committee said “The FAB Show 2024 offers unmatched opportunities for garment industry supply chain vendors to connect with reputed large buyers from all over India and around the globe. Exhibitors at the show have curated the newest fabric trends, offering brands a prime opportunity to craft the trendiest garments for their upcoming collections. Furthermore, CMAI is spearheading a future where sustainability is integral to business operations, echoing our vision for a greener, more resilient world through the sustainability zone.”

One of the highlights at the FAB Show 2024 is the Surat Pavilion, organized by SGCCI for the third consecutive edition. This pavilion will showcase over 40 prominent fabric manufacturers from the region.

Among the key participants are Grasim, Arvind, Siyaram’s, Banswara, Ruby Mills, Jindal, Gokul Bhagwan Enterprise, Bharti Creations, Dharmi Enterprise, Ramsons, Value Added Fashion Fabrics, Fashion Accessories India and many others. The expected visitors include mainly Garment manufacturers, Brand owners, and e-commerce platforms, underline the FAB Show’s importance as a premier gathering for the Fashion and Apparel industry highlighting its significance as a key platform for their sourcing requirements. More than 10,000 buyers and manufacturers from over 400 cities, and international buyers from the USA, Bangladesh, UAE, Bahrain, Egypt, Russia, Hong Kong, Kenya, Sri Lanka, and Nepal among others are expected to visit FAB Show 2024.

CMAI dignitaries present at the inauguration were Rajesh Masand – President, Jayesh Shah – Vice-President, Naveen Sainani – Chairman FAB Show, Santosh Katariya – Secretary; Ankur Gadia – Hon Treasurer; Mohan Sadhwani – Executive Director, Rahul Mehta – Chief Mentor, and Prakash Parikh – Jt. Chairman of FAB Show, among others.

New Delhi, 15th April 2024: Q1 2024 reported institutional investments of USD 552 Mn, registering a decline of 55% on the year and 27% in the quarter. This steep fall could be attributed to the cautious approach of foreign investors amid global macroeconomic uncertainty.

On the other hand, domestic investors showcased resilience and accounted for 98% of the total institutional investments received in the current quarter. Although the share has increased from 36% a year earlier, investments in value terms increased by only 21%. Domestic investors invested around USD 541 Mn across multiple deals during Q1 2024.

Investor Type	Value (USD Mn)			% Change		% Share
	Q1 2023	Q4 2023	Q1 2024	Q1 2024 vs Q1 2023	Q1 2024 vs Q4 2023	Q1 2023	Q4 2023	Q1 2024
Foreign	791.4	299.8	11	-99%	-96%	64%	40%	2%
India-dedicated	446.9	452.1	541.1	21%	20%	36%	60%	98%

Shrinivas Rao, FRICS, CEO, Vestian, “Domestic investors are bullish about India’s growth story, continue to pour in investments in the real estate sector. On the other hand, foreign investors are cautious due to global macroeconomic uncertainty and geopolitical tensions.”

Commercial assets (office, retail, co-working, and hospitality projects) garnered the highest investments of USD 232 Mn in Q1 2024, closely followed by residential assets at USD 225 Mn.

Despite an increase in the share of commercial investments to 42% in Q1 2024 from 39% a year earlier, they declined by 52% in value terms. Similarly, the share of residential investments also increased to 41% in Q1 2024 from 27% in Q1 2023. However, investments declined by 33% annually in value terms. Investments significantly decreased by 73% in the industrial and warehousing sector in Q1 2024 over the previous year.

Asset Type	Value (USD Mn)			% Change		% Share
	Q1 2023	Q4 2023	Q1 2024	Q1 2024 vs Q1 2023	Q1 2024 vs Q4 2023	Q1 2023	Q4 2023	Q1 2024
Commercial	484.8	571.0	231.6	-52%	-59%	39%	76%	42%
Residential	337.7	63.0	225.0	-33%	257%	27%	8%	41%
Industrial & Warehousing	215.8	105.9	58.9	-73%	-44%	18%	14%	11%
Diversified	200.0	12.0	36.7	-82%	205%	16%	2%	6%
Total	1,238.3	751.9	552.1	-55%	-27%	100%	100%	100%

Bengaluru dominated the institutional investments in Q1 2024 with USD 299 Mn, followed by NCR at USD 110 Mn. Both the cities together accounted for around 74% of the total investments received in the current quarter. Edelweiss Capital turned out to be the most active investor during the quarter with over USD 300 Mn worth of investments across the asset classes and geographies.

Rao further added, “The Indian real estate sector is expected to garner increased investments in the coming months on the back of a strengthened economic scenario and robust demand.”