Archives October 2024

A recent survey conducted by Fracspace, a prop-tech startup specializing in fractional real estate ownership, reveals the key motivations that drive investors to choose fractional ownership over traditional real estate investments. The survey results highlight the growing appeal of co-ownership models, offering a range of benefits to middle-class investors looking for affordable and flexible ways to enter the real estate market.

According to the survey, nearly half (48%) of respondents indicated that earning passive rental income is the most attractive feature of fractional real estate investments. This indicates that for many investors, the ability to generate consistent rental income without the full responsibility of managing a property is a major draw.

In addition to passive income, 18% of respondents were most interested in the lower upfront investment cost, which makes it easier for individuals to enter the real estate market without the financial burden of traditional property ownership. Another 18% valued the flexibility and ease of exit options that fractional ownership offers, allowing investors to sell their shares when needed without being tied to long-term commitments. Finally, 15% of participants were drawn to the opportunity to access luxury properties in prime locations, which may have otherwise been out of reach.

Commenting on the survey’s findings, Unnath Reddy, founder of Fracspace, said, “These results validate the need for flexible and affordable real estate investment opportunities. Investors are increasingly looking for ways to earn passive income and benefit from high-value properties without the traditional financial hurdles. At Fracspace, we are committed to simplifying property ownership and providing a model that meets the diverse needs of today’s investors.”

As fractional ownership models continue to gain popularity, the survey offers insights into the evolving preferences of real estate investors. With its unique co-ownership model, Fracspace is well-positioned to meet the demand for accessible, profitable, and flexible real estate investments, helping individuals realize their property ownership dreams with minimal financial risk.

Mumbai, 29 October 2024: ElasticRun, a leading B2B e-commerce platform, today announced its financial results for fiscal year 2024; reporting significant progress toward profitability, reducing losses by almost half . This improvement underscores the company’s strategic focus on profitability, driven by targeted initiatives and operational efficiencies.

Strategic Pivot to High-Margin Regional Brands

A key driver behind the improved financial performance was ElasticRun’s pivot to supporting high-margin regional brands. This shift has transformed the company’s sales mix, with over 90% of sales now coming from high-margin products. The enhanced product portfolio, coupled with a threefold increase in take rates compared to the previous year’s assortment, has significantly boosted ElasticRun’s gross margins, even as gross merchandise value (GMV) declined in FY24.

Sandeep Deshmukh, Co-Founder & CEO of ElasticRun said “We strategically realigned our platform to focus on high-margin regional brands, and this shift has worked exceptionally well for us. Our platform now serves as a powerful launchpad for these brands, enabling them to expand far beyond their home market and scale nationally”.

ElasticRun’s private label business also saw strong growth, now contributing nearly 20% of the company’s total sales. The introduction of private label products has allowed the company to address assortment gaps in key markets, further boosting revenue and profitability.

Logistics Businesses

In the logistics sector, ElasticRun solidified its leadership position as the dominant delivery partner for India’s top e-commerce players. The company is making its foray into quick commerce through a multi-pronged approach, collaborating with existing players and developing its own white-label quick commerce network. This initiative aims to help direct-to-consumer (D2C) and other commerce players offer faster and reliable delivery options to their customers. With quick commerce poised to drive significant growth, the company anticipates it to be a critical building block of its logistics business.

Tech as a Service: Scaling the Platform

ElasticRun’s technology platform, which has powered over 2 billion shipments, was introduced as a SaaS offering in FY24. In just a few quarters, the platform has onboarded more than several large enterprise customers, including some of the biggest names in e-commerce and D2C sectors. This new revenue stream highlights the stability and maturity of ElasticRun’s technology infrastructure.

Commenting on the company’s strong financial position, Ankit Gadia, CFO of ElasticRun, said “Our focus on capital efficiency, coupled with disciplined execution, has put us on a strong footing. We continue to maintain one of the strongest balance sheets in the industry with significant cash reserves and a prudent capital allocation strategy. We continue to invest in our LogisTech and B2B rural ecom business to achieve profitable, sustainable and competitive growth.”

National, October 29th , 2024 – Minimalist, pioneer and science-backed innovative skincare solutions, announces the launch of its latest product, the Retinal 0.1% Face Serum. This advanced serum is meticulously formulated to combat visible signs of aging while maintaining a gentle approach for all skin types. Minimalist Retinal 0.1% Face Serum along with Oleyl Adapalenate and Squalane have a superior efficacy in combating signs of aging while being gentle on the skin. It reduces signs of skin aging such as fine lines, wrinkles, loss of elasticity, uneven skin tone and texture, inflammation. Regular use promotes cell turnover, revealing a more youthful, radiant complexion and smooth skin texture.

Key Features of Minimalist Retinal 0.1% Face Serum

The Retinal 0.1% Face Serum is designed to deliver exceptional anti–aging benefits through its unique blend of powerful ingredients:

• Retinal (0.1%): A potent form of Vitamin A known for its superior efficacy in reducing fine lines, wrinkles, and uneven skin tone. Clinical studies show it improves photoaging by an impressive 95%, promoting cell turnover for a youthful, radiant complexion.

• Oleyl Adapalenate: This third-generation retinoid precursor enhances collagen production, reduces photoaging, balances skin tone, and soothes inflammation. Clinical studies indicate it is significantly more effective than traditional retinol in reducing wrinkle severity and redness.

• Bakuchiol: Renowned for its anti-inflammatory properties, Bakuchiol effectively decreases levels of PGE2, IL-6, and MIF proteins, promoting a calmer complexion.

• Squalane: A lightweight moisturizing agent that seals in moisture while minimizing trans-epidermal water loss, ensuring hydration without clogging pores.

“At Minimalist, we are committed to redefining skin care through innovation and transparency, ” said Mohit Yadav, Founder of Minimalist. “ With our Retinal 0.1% Face Serum, we have harnessed the power of advanced ingredients like Oleyl Adapalenate and Squalane to deliver exceptional results in combating the visible signs of aging. Our goal is to provide consumers with effective, science-backed solutions by focusing on breakthrough formulations and premium ingredients. We aim to continue setting new standards in skincare that aligns with our core values of simplicity and honesty.”

Hyderabad, October 28, 2024—Kolor Champ ’24 , a unique and a Grand Showcase of Artistic Talent Across India held in Hyderabad on Sunday at SR Classic Convention in Shamshabad.

Amit Krishn Gulati , an award-winning industrial designer, entrepreneur and educator and visiting faculty at the National Institute of Design (NID) Ahmedabad, School of Planning & Architecture (SPA) Delhi, and Indian School of Public Policy (ISPP) Delhi was the chief guest and inaugurated it. He is also the co-founder of Incubis – one of India’s pioneering Architecture & Design companies.

Addressing the students, nearly 2000, the participants, their parents and Global Art staff he said there is no right or wrong in art. Art is always right. Art is an important skill. It makes people happy. Art makes difficult things easy to learn. He gave an example of comics which make a story interesting to follow. A picture makes a difficult thing easy.

Critical Thinking, Problem solving skills, Design Thinkings, Creativity are the new age skills. These skills give you a cutting edge. They will differentiate you from the rest of the crowd. Sharpen minds, problem solving minds are the most sought after now. These skills will be the future. Rote learning, rule-based learning will be things of the past. We don’t need intellectual coolies. Such works will be done by Artificial Intelligence and Machine Learning. We need such skills which computers can’t do. Survival of our country will depend on our human creativity. Creative enough IT folks will develop new products, technologists invent new chips. Being distinctive and unique, having a competitive advantage will help you survive in the competitive world, he said.

Amit unveiled the competitive sheet and announced the commencement of the competition. The participants aged 5 to 15 had to draw a painting, a creative drawing, or their imagination of the topic which was announced on the spot. The topic was “one dream of mine which I wish comes true”. The children had painted on the theme. The competition went on for one-hour forty five minutes to two hours forty five minutes depending on the different levels of the participants.

The 17th National Competition—Kolor Champ ’24, a grand showcase of Artistic Talent saw participants from seven Indian states and cities like Hyderabad, Chennai, Bangalore, Coimbatore, Delhi, Jaipur, an

Globalart program aims to develop the artistic and creative potential of children.The event came to Hyderabad second time after a gap of several years.

Dinesh Victor, Founder & MD of SIP Academy India, the force behind Globalart in India said they trained 95000 students in art since 2005. Currently we train 11000 students across 145 centers in seven states, he shared. The art is a creative expression, he added. He urged kids to think differently and choose different things in life.

Ajin Thong, Co-Founder & COO of Globalart Worldwide from Malaysia, who has also served as the chief trainer of Globalart Worldwide for 21 years also graced the inaugural of the competition told the participants to think and grow creatively.

This is an event showcasing the innovative minds of India’s next generation. The children’s creativity will flow spontaneously as they compete live, weaving their imaginative ideas into artistic masterpieces, he added.

WWF featured Globalart children’s works in campaigns for Save the Tiger and Climate Change. The works of the children are also displayed at the 2nd World Ministerial Conference with delegates from 13 countries in Bali, Indonesia, earning Globalart certificates of appreciation. The competition also holds a Limca Book of Records.

New Delhi, 28th October,2024: Signature Global, among one of the India’s leading real estate developers, announced that it has awarded the construction contract for its premium residential project, Titanium SPR at Sector 71, Gurugram. The contract worth Rs 1203 crore has been entrusted to the renowned construction company, Capacit’e Infraprojects Limited.

Spanning across 14.382 acres, Titanium SPR has a total 608 units comprising of 3.5 BHK and 4.5 BHK. Being developed as a two-phase project with a total sales potential area of 3.7 million sq. ft. the first phase comprises 2.1 million sq. ft. was launched in the month of June 2024. The project has garnered an overwhelming response achieving a remarkable pre-sale numberof over₹2700 crore.

Mr. Pradeep Aggarwal, Chairman and Whole-Time Director of Signature Global, said, “Titanium SPRexemplifies our commitment to providing premium living experiences. Despite being one of our first premium projects, it has garnered tremendous response from customers, and we are committed to uphold the highest standards of quality throughout its development. By partnering withCapacit’e Infraprojects, we are confident that Titanium SPR will emerge as a landmark in the Delhi NCR region, offering modern homebuyers the perfect blend of luxury, comfort, and convenience.”

Strategically located in Sector 71, Gurugram alongside Southern Peripheral Road (SPR), Titanium SPR is an iconic development crafted to redefine premium living. The project would offer 26-feet and 28-feet-long decks, along with triple height entrance lobby and 7 lagoon pools designed by renowned international architects, such as DPC from Singapore, MPFP from the USA, Confluence, NMP Design, Senelac Consultants, and Vintech Consultants.

Inspired by Singaporean architecture, Titanium SPR offers features 40-story high-rise towers offering breath-taking cityscape views, with layouts ensuring no balconies overlook each other. The elevated green spaces, such as the sky garden on the 30th floor, and sky terrace on the 40th floor provide serene retreats with panoramic vistas. The project includes over 55 exclusive amenities, from lagoon pools, sensory gardens, a Miyawaki forest, and state-of-the-art recreational facilities. It also hosts Club Elevate that span across 57,000 sq ft with a double-height entry, a multipurpose hall with a pool facing view, fine dining options, a fully-equipped gym, a Zumba studio, spa and sauna facilities, an on-site salon, a co-working space, and other community spaces for its residents, creating a resort-like ambiance within the residential enclave.

Southern Peripheral Road is widely viewed as one of the most promising locations of National Capital Region. At sector 71 Gurgram which is alongside SPR, Signature Global holds prime land parcels at having a developable potential of 17 million sq. ft.

– BPCL reported a consolidated revenue growth of 1.1% YoY / down 7.9% QoQ to Rs. 1,17,949 crores, missing the street estimates.
– EBITDA decreased 65.1% YoY / down 19.7% QoQ to Rs. 4,517 crores, while EBITDA margin stood at 3.8% (down 726 bps YoY / down 56 bps QoQ) in Q2FY25.
– Profit after Tax declined 72% YoY / down 19% QoQ to Rs. 2,297 crores in Q2FY25. PAT margin came at 1.9% versus 2.2% in the previous quarter.
– The refinery data during the quarter declined marginally to 10.28 MMT, compared with 9.35 MMT in the last quarter.
– The market sales of the company for Q2FY25 grew 1.6% to 12.39 million metric tonnes compared to 12.19 million metric tonnes for Q2FY24.

Views by Akriti Mehrotra, Research Analyst, StoxBox:
Oil refining giant Bharat Petroleum Corp. Ltd. reported weak operational performance annually in Q2FY25 due to lower marketing margins and adverse weather conditions impacting agricultural demand. The average gross refining margin (GRM) fell to $6.12/barrel in H1FY25, down from $15.42/barrel in the same period last year. While improved marketing margins and a rebound in GRM could enhance future performance. With a decline in fuel consumption and falling global crude oil prices, we will closely monitor any government actions that could affect the company’s financial performance in the short to medium term.

Bengaluru, October 28, 2024: JSW MG Motor India today announced the delivery of 101 units of the MG Windsor—India’s First Intelligent CUV by MG Jubilant Bengaluru. This reflects the growing enthusiasm for the Intelligent CUV among buyers across the country. Windsor’s recently created a milestone of becoming the first passenger EV in India to garner 15,176 bookings within 24 hours of booking announcement.

MG Windsor combines the comfort of a sedan and the expanse of an SUV and is offered with an innovative aerodynamic design, spacious and opulent interiors, reassuring safety, smart connectivity, driving comfort, and many other hi-tech features. It is built on a ‘Pure EV Platform’ and offers a luxurious business-class experience. It has a certified range of 332 km on a single charge. The MG Windsor starts. Under the unique Battery as a Service (BaaS) program, it is available .

The MG Windsor is packed with a host of industry-first features, designed to enhance both comfort and technology for drivers and passengers alike. Its first-in-segment Aero Lounge seats offer unmatched relaxation with their 135° recline capability, while the expansive 604-litre boot space provides ample room for luggage. The Windsor also features an IP67-certified 38kWh battery, ensuring durability and safety, coupled with four driving modes, Eco+, Eco, Normal, and Sport to cater to different driving preferences. Additionally, its Infinity View Glass Roof and best-in-class wheelbase of 2700 mm create a sense of openness and luxury, redefining what customers can expect from a CUV.

The MG Windsor takes smart connectivity and in-car technology to new heights with its MG-Jio Innovative Connectivity Platform (ICP), offering advanced features such as Home-to-Car functionality and over 100 AI-powered voice commands. Drivers can control essential functions and access infotainment using simple voice commands in multiple Indian languages, enhancing ease of use. The 15.6-inch Grandview Touch Display not only provides intuitive navigation and entertainment options but also integrates seamlessly with the vehicle’s smart systems. With 80+ connected features, including real-time navigation, remote vehicle control, and safety alerts, the MG Windsor ensures a cutting-edge, intelligent driving experience.

The Intelligent CUV is being offered in three variants: Excite, Exclusive, and Essence; and four colours: Starburst Black, Pearl White, Clay Beige, and Turquoise Green.

New Delhi, October 28, 2024: Mobile Creches, a leading non-profit organization dedicated to early childhood development (ECD), successfully hosted “Nanhe Kadam Bal Utsav” – a knowledge fair celebrating the critical early years of a child’s life at the National Crafts Museum C Hastkala Academy, New Delhi today. The event showcased innovative approaches to childcare, learning, and development, aimed at fostering a nurturing environment for children from vulnerable communities. Held in commemoration of 29th October celebrated every year as the International Day of Care and Support, the event brought together childcare champions, policymakers, parents and children, and the general public to honor the significant contributions of these individuals in shaping young lives.

The event was graced by Dr. Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister, Dr. Radhika Batra, Founder and President of Every Infant Matters, and Ms. Suhela Khan, UN Women as guests contributing to the celebrations with their inspiring words and support.

The Utsav was filled with interactive activities and fun-filled engagements, including ECD stalls, fun activities, children’s story corner, drawing area, and a photo exhibition. Performances like Kathputli dance, a Nukkad Natak (street play), and a drum circle captivated audiences and highlighted the importance of a holistic approach to child development.

The day began with a welcome address by Ms. Sumitra Mishra, CEO of Mobile Creches, who emphasised the significance of the early years and Mobile Creches’ role in supporting children and families from disadvantaged communities. She said, “Through the Nanhe Kadam Bal Utsav, we celebrate the potential of every child and the unwavering efforts of parents and care- workers who lay the foundation for a brighter future.

“One of the highlights of the event was the launch of a model creche aimed at creating exemplary childcare centres. The Model Creche was inaugurated by Dr Radhika Batra, who lauded the Mobile Creches’ initiative and its vision of elevating child care standards in India. “Mobile Creches’ dedication to child rights advocacy is truly inspiring, providing vulnerable children with the essential love, care, and guidance they need to thrive. The reach of this model across 15 states in India showcases its transformative potential, and I believe it could serve as a powerful framework for regions worldwide, including Africa and Latin America, where many children face similar challenges. I look forward to exploring opportunities to collaborate and expand this life-changing approach, ensuring more children benefit from the remarkable efforts of Mobile Creches.” she remarked.

An awards ceremony recognised the dedication of 12 childcare champions from the states of Chhattisgarh, Jharkhand, Odisha and West Bengal including caregivers and sarpanchs who have demonstrated exceptional commitment to children’s well-being. The awards were presented by Dr. Shamika Ravi.

Dr. Shamika Ravi congratulated the recipients for their crucial role in building the foundation of the nation. “On average, women aged 18 to 60 spend nearly five hours daily on caregiving. As society progresses, market solutions have emerged for many needs, but not for care. Even when we hire help, nothing replaces a mother’s care, and the level of care remains a concern. Despite increasing education levels, with 45 percent of STEM graduates being women, many face career setbacks due to childcare responsibilities. FORCES’ efforts are a vital step toward addressing this. True progress requires men’s support in caregiving, and the government must recognize this as a significant issue across all wealth groups. Childcare is not optional; it’s essential. We applaud Mobile Creches for their impactful work.”

Mumbai, 28 October 2024: India’s leading jobs and professional networking platform, apna.co, reported 2.16 lakh job postings this festive season, a 20% increase compared to 1.8 lakh job postings vs last year. As expected, this year’s festive season saw a significant rise in hiring across key sectors like logistics, e-commerce, retail, and hospitality. This year’s festive season was particularly important for businesses looking to rebound after a slowdown in consumer spending during the summer and election periods. Companies were focused on driving sales beyond last year’s numbers. Additionally, the rapid expansion of the quick commerce industry contributed to this hiring momentum. Among the sectors, logistics and operations experienced the highest growth, with a 70% increase in job postings. Retail and e-commerce followed with a 30% rise, while the restaurant and hospitality sector grew by 25%.

To meet rising demand, logistics and mobility leaders like Rapido, Delhivery, Ekart, and Shiprocket have posted over 30,000 openings for roles such as Warehouse Managers, Logistics Associates, Inventory Managers, and Delivery Drivers. The retail and e-commerce sector is also expanding, adding 18,000 roles, including Category Growth Managers, Sales Associates, and Customer Support Managers to enhance consumer experience. In hospitality, 14,000 jobs have opened for positions like Restaurant Managers, Front Office Staff, and Administrative Personnel. QSR giants such as Jubilant Foodworks and food delivery platforms like Swiggy and Zomato are also ramping up hiring to keep pace with demand.

This hiring trend is not limited to major metro cities; tier-2 and tier-3 cities are also experiencing a significant rise in job opportunities. While tier-1 cities like Bangalore, Delhi-NCR, Mumbai, Chennai, Kolkata, and Hyderabad have seen a 20% increase in job postings, the demand in tier-2 and tier-3 cities is even more notable. Factors such as increasing urbanization, the expansion of malls and quick-service restaurants, and improved consumer spending are driving this growth. Cities like Lucknow, Ahmedabad, Surat, Bhubaneswar, Bhopal, Indore, Kanpur, Chandigarh, Patna, Coimbatore, and Jaipur have recorded a 25% increase in job postings.

Nirmit Parikh, Founder & CEO of Apna.co, commented, “At Apna, we typically start preparing for the festive season two months in advance. However, this year was crucial for our employer partners, who anticipated a 20-25% increase in consumer demand. To support them, we began our preparations even earlier, building a strong talent pipeline. Our sector-specific go-to-market campaigns helped us deliver tailored solutions across industries like logistics, e-commerce, and quick commerce, filling key roles such as Logistics Managers, Warehouse Associates, Delivery Partners, and Customer Support Managers. As a customer-obsessed organization, our commitment to solving hiring challenges and revolutionizing how Indian businesses hire is clearly reflected in the success we’ve seen this festive season.”

October 2024, National: Fairmont Jaipur, the exclusive hospitality partner for the Mathuradas Mathur Memorial Polo Cup (Season 5), curated an unforgettable evening of elegance, grandeur, and celebration. The festive spirit started with a traditional Cake Mixing Ceremony by the Reflective Pool, while the MDM Polo Cup Bash at Zarin, the hotel’s acclaimed fine-dining Pan Asian restaurant, welcomed distinguished guests. The event combined the timeless heritage of polo with the unparalleled luxury and sophistication that define the Fairmont Jaipur experience.

The event saw the participation of prominent polo players and renowned personalities, including Mr. Stephen Hickling, Deputy High Commissioner to Gujarat & Rajasthan, Mr. Boney Kapoor, Mr. Rumi Jaffery, and Mr. Tutu Sharma. The evening kicked off with the much-loved Cake Mixing Ceremony, ushering in the festive season with a sense of excellence and celebration.

The evening began with a captivating saxophone performance, setting an elegant tone with soulful melodies. Guests enjoyed a gourmet dinner at Zarin, curated by Fairmont Jaipur’s Master Chefs. The culinary experience featured live stations serving Thai curry and teppanyaki, adding an interactive and vibrant element to the evening.

Commenting on the event, Mr. Rajat Sethi, General Manager of Fairmont Jaipur, said, “We are delighted to be the hospitality partner for the MDM Polo Cup, an event that perfectly captures the spirit of elegance, sport, and celebration. At Fairmont Jaipur, we strive to create extraordinary experiences, and these festivities – from the Cake Mixing Ceremony to the gourmet dining – are a reflection of our dedication to luxury and fine living.”

In addition to the celebration at Zarin, Fairmont Jaipur hosted a spectacular Sundowner Party on the Polo Ground’s back lawns on 26th October 2024, where guests enjoyed handcrafted cocktails by renowned mixologist Virendra Singh, along with a live performance by Cool Boyz. The sundowner was complemented by an exclusive photo exhibition on Rajasthani heritage and culture by Shri Sudhir Kasliwal, and a fashion walk featuring designer Pkin Pankaj Kothari, who introduced Polo attire.

The MDM Polo Cup Bash marked the start of an exciting weekend celebrating the sport of kings. Fairmont Jaipur continues to elevate such experiences with its commitment to offering world-class hospitality and unforgettable events.