Tag Mumbai

Mumbai, Wednesday, 7th March 2024: EKA Mobility, a leading player in the electric mobility sector with Mitsui Co., Ltd. (Japan) & VDL Groep (Netherlands) as equity partners, is delighted to announce the appointment of Mr. Nobuyoshi Umezawa as Chief Strategy Officer.

Mr. Umezawa brings extensive experience and knowledge in international business, project management, and investment portfolio management. Mr. Umezawa began his professional career in 1996 with Mitsui & Co. Ltd, where he played a key role in a variety of infrastructure and mobility projects throughout Europe, the Middle East, Africa, Russia, and elsewhere. His primary areas of competence are project management of turnkey EPC contracts, investment in PPP/PFI projects, and project financing.

Throughout his career, Mr. Umezawa has served on the boards of several prominent organizations, including passenger railway operators in the United Kingdom, commercial vehicle leasing companies in Latin America, industrial machinery distributors in the United States, and logistics and finance entities in India, among others.

Dr. Sudhir Mehta, Founder & Chairman, EKA Mobility, said, “We welcome Mr. Umezawa to the EKA Mobility family. With his wealth of experience, strategic insight, and having undertaken various overseas assignments, Mr. Umezawa has garnered invaluable insights and a global perspective that will undoubtedly contribute to the strategic growth and development of EKA Mobility.”

Mr. Umezawa Nobuyoshi, EKA Mobility’s Chief Strategy Officer, stated, “I am honored to join the dynamic team at EKA Mobility.” I am looking forward to using my knowledge to drive strategic initiatives that will advance the company’s development both in India and overseas markets. “

Mumbai, March 6, 2024 – Runwal Group, one of the top real estate developers in the country, has announced the launch of sky deck residences in its iconic project Runwal Pinnacle. Standing tall with 67 levels, this vertical marvel now boasts of sky deck residences in multiple configurations on the top floors. These new residences will feature private decks offering panoramic views of the city skyline, Sanjay Gandhi National Park, and the mangroves, providing residents with an elevated lifestyle.

Runwal Pinnacle has always been synonymous with high rise luxury and the project features towers which are amongst the tallest in the eastern suburbs of Mumbai. The project offers impeccably designed 1, 2, and 3 BHK apartments. Now private decks will be available in all the 3 typologies, above the 40th floor. This will not just redefine high-rise luxury, but also reaffirm its status as one of the finest residential addresses offering world class living. The meticulously designed homes offer spacious layouts ensuring that residents have ample space to relax and unwind.

In addition to the private decks, residents will have access to a range of top-notch recreational and lifestyle facilities, including an expansive 2-level clubhouse, rooftop amenities, Jain temple, and more. The project’s prime location on GMLR, next to R Galleria and Fortis Hospital, further enhances its appeal.

Ms.Lucy Roychoudhury, Head of Sales, Marketing & CRM at Runwal Group stated, “Runwal Pinnacle was always planned to be an iconic development bringing in luxurious high-rise apartments offering a world class experience. Addition of sky decks to multiple apartment configurations is a part of this vision and our commitment is to provide our buyers with the best. We are sure these homes will offer an elevated lifestyle in Mulund and will see good traction.”

Mulund is an established, well-known and extremely well-connected central suburb of Mumbai. With superb connectivity via suburban rail, road & upcoming metro networks, excellent social infrastructure and a high-street location make Runwal Pinnacle, situated on GMLR, the most desirable address to be at. Seamless connectivity to Goregaon & Western Suburbs via the upcoming GMLR Connector will further enhance this ease of commute.

MGL has always been a customer friendly company, consistently and promptly passing reduction in gas costs to its consumers to promote usage of Natural Gas. Due to reduction in gas input cost MGL is pleased to announce reduction in CNG price by Rs 2.5/Kg in and around Mumbai.

The revised MRP of CNG will be Rs 73.50/Kg effective from midnight of 5 th March 2024/ morning of 6 th March 2024.

MGL’s CNG price now offers attractive savings of 53% compared to petrol and 22% compared to diesel at current price levels in Mumbai while delivering unmatched convenience, safety, reliability and environmental friendliness to consumers.

This reduction in CNG price would help to increase the consumption of natural gas in transportation segment, which is a step towards making India cleaner and greener.

Mumbai, 6th March, 2024 – Leading education software company, Educational Initiatives (Ei) recently announced that HCL Group has made an investment of INR 166 crore to acquire a minority stake in the Company.

Founded in 2001, Ei is a leading B2B education software company that provides schools with research-backed assessments and personalised adaptive learning solutions to help improve learning outcomes at scale. Ei has more than 1 million paid users for its two offerings: Assessments (Ei ASSET and Ei CARES) and Personalised Adaptive Learning (Ei Mindspark) and is present in India, UAE, South Africa, and Singapore.

“We have demonstrated our ability to improve learning outcomes and empower school teachers to achieve their intent of every child learning well regardless of their parent income. I’m excited to welcome HCL Group as investors who share our vision of leveraging the best of pedagogy & technology to improve learning outcomes for millions of students in India and around the world”, said Pranav Kothari, CEO, Ei.

Shikhar Malhotra, Director, HCL Group said, “We’re thrilled to invest in Ei; it is a great organization with technological prowess and a commitment to effecting positive societal change. The organization offers a distinctive blend of scalable technology, impactful social initiatives, and sustainable growth.”

Remarking on the investment, Gopal Jain, Managing Partner at Gaja Capital said, “Ei is a rare example of resilience, high growth, pedagogy and technology coming together in their vision of solving one of the biggest problems of our age – helping every child learn with understanding. ”

Ei stands at the forefront of education with 23 years of pedagogical research, analyzing 5 billion data points to understand student learning patterns. Leveraging cutting-edge research and technology, Ei has developed a suite of assessment and adaptive learning products for both students and teachers. These innovative tools have shown significant enhancements in learning outcomes across subjects.

Ei has a market leading presence in India and the UAE. The company is now looking to expand in South Africa, Kenya, Ghana and Saudi Arabia and is exploring business partnerships in these markets with companies that align with Ei’s mission. The company has also developed offerings like Ei ASSET Arabic to suit the local needs of these countries. Ei is looking to acquire Edtech product companies focused on improving learning outcomes in their respective regions.

Its adaptive learning product, Ei Mindspark, has undergone three independent third-party evaluations by researchers at J-PAL, IDInsight, Harvard and Oxford and is proven to deliver 300% to 700% improvements in learning outcomes compared to the respective control groups in these studies. The B2B Edtech company uses advanced analytics to identify learning gaps and has integrated generative AI into its products to improve students’ reading, writing and speaking experience. It is also investing in discovering how technologies like machine learning and natural language processing (NLP) can aid in student learning. Ei’s newest assessment product, Ei ASSET Computational Thinking and Ei Mindspark Computational Thinking help prepare students for critical 21st century skills. Ei continues to build content specifically for tackling Foundational Literacy & Numeracy (FLN) as part of India’s national mission to ensure children can read and do basic math in younger grades. As part of NEP, Ei has been a technical partner to strengthen assessments at CBSE, Andhra Pradesh, Tamil Nadu, Tripura, Rajasthan, Madhya Pradesh and Nagaland.

Educational Initiatives’ (Ei) products have garnered global recognition as among the most innovative and impactful in the field, with accolades from prestigious entities like UNESCO, the World Bank, Brookings Institute, and numerous leading publications, all highlighting EI’s cutting-edge technological contributions to education

6th March, Mumbai: Vinod Cookware, a prominent Indian cookware manufacturer, has recently opened its latest manufacturing unit in Gundale village, Palghar district, Maharashtra. The expansion is a strategic move to address the increasing demand for Vinod Cookware products in domestic and global markets. Covering an expansive 250,000 square feet, the newly inaugurated plant in Gundale is now the brand’s largest production unit. This expansion aligns with Vinod Cookware’s existing operational setup, as all factories are currently located in Palghar, enhancing logistical efficiency and managerial cohesion. In addition to being the brand’s largest, the new manufacturing unit is also expected to create approximately 300-350 new jobs to run operations.

The Palghar facility is expected to incorporate technological advancements, including larger capacity production machinery and advanced management technology. While initially handling base and supplementary production processes, the plant will contribute significantly to scaling Vinod Cookware’s existing operations. Upholding a commitment to sustainability, the new unit will adhere to the same standard operating procedures for expanded production. This includes the utilization of sustainable materials and a focus on waste reduction in the production processes. Moreover, in anticipation of optimal capacity, a 60% boost in production capacity is expected, showcasing Vinod Cookware’s dedication to meeting heightened market demands while upholding sustainable and efficient manufacturing practices. In addition to the Palghar expansion, Vinod Cookware extended its reach by entering the UK and EU markets, launching its official UK website in November last year.

“We are pleased to announce the opening of our new manufacturing plant in Palghar, Maharashtra. This strategic expansion marks a significant milestone for Vinod Cookware as we strive to meet the surging demand for our high-quality products with enhanced efficiency and scale. Our new facility stands as a testament to our unwavering commitment to operational growth and, above all, customer satisfaction. As we embark on this exciting journey, we look forward to setting new benchmarks in the cookware industry while ensuring a positive impact on the local community through job creation and economic development.” stated Sunil Agarwal, Director, Vinod Cookware

Mumbai, India, March 2nd , 2024: GreenGen, a global leader in energy and sustainability solutions, is proud to announce its expansion into India, unveiled at the Urban Land Institute (ULI) India Summit in Mumbai. This strategic move aims to better support leading real estate investors, operators, and businesses in their transition towards net zero.

Since 2022, GreenGen has maintained a presence in India, however, this latest initiative marks a significant expansion, establishing a comprehensive team in the world’s most populous country. This expansion reflects GreenGen’s commitment to providing local expertise and custom solutions. The India team comprises mechanical, electrical, and environmental experts, including a program management ead to spearhead strategy development and execution. This move aligns with GreenGen’s philosophy of meeting clients where they are, extending its global reach across the US, Europe, APAC, and now India. GreenGen is trusted by some of the largest real estate and private equity firms in the world, helping them to develop and implement sustainability initiatives across global real estate portfolios.

India’s rapid economic development and urbanization are driving an increase in energy demand, positioning the country as the third largest in global emissions, behind only China and the United States. Despite this, India’s per capita emissions remain remarkably low, in fact, over seven times lower per person than in the US. GreenGen recognizes the critical need for sustainable urban development in India to avoid the carbon-intensive approaches historically adopted by other nations.

India presents a unique opportunity to pioneer a new model of economic development, one that could provide a blueprint of sustainability for other developing economies. The country’s commitment to net zero emissions by 2070, its flourishing economy, and its potential for growth make it a pivotal market for low-carbon solutions. GreenGen is dedicated to supporting India’s shift towards greener, electrified alternatives.

“The next decade will be all about India,” says GreenGen CEO, Brad Dockser. “The built environment in India presents a massive opportunity for GreenGen to capture exciting growth opportunities. By making low-carbon strategies profitable, we aim to lead our clients towards long term success while accelerating the energy transition.”

To date, GreenGen has completed projects in over 25 countries, leaving a tangible mark on the global andscape. GreenGen has been recognized as an Inc. 5000 fastest-growing company and has received numerous awards for sustainability, innovation, and culture. These accolades underscore GreenGen’s commitment to leading the way in energy efficiency and sustainable solutions.

Mumbai, 1 March 2024: Cult, India’s foremost fitness brand has recently launched the ‘Fit Creator Accelerator’ (FCA) campaign, aimed at building a community (or a ‘cult’) of fitness influencers. FCA invites nano, micro, and macro-influencers to join, offering them a unique opportunity to showcase their fitness content on Cult’s official social media handles.

To participate, influencers are required to fill out a form detailing their fitness and content creation background. After a screening process, the final stage involves evaluation by none other than Hrithik Roshan himself, a panelist for FCA. Six lucky winners chosen by Hrithik Roshan will become the inaugural batch of the FCA campaign.

 The FCA initiative provides influencers with a platform to create and share compelling fitness content, facilitating visibility and indirectly, gaining traction on their own social media handles. In a landscape where organic reach is often penalized, Cult recognizes the need to nurture and empower new creators who align with their beliefs and values.

Through Fit Creator Accelerator, Cult strongly aims to foster micro-communities that collectively contribute to making fitness a way of life for millions of Indians. As an active advertiser, Cult acknowledges the power of influencers in reaching the target audience effectively and believes that empowering these influencers is key to achieving their broader mission.

Mumbai, March 01, 2024: The role of Chief Operations Officers in today’s world has expanded beyond just optimizing resources and increasing efficiencies. They need to be updated with current and future affairs and build strategies that will help propel the business forward in this agile and evolving business world. Acknowledging the pivotal role of the Chief Operations Officers (COOs), the prestigious Indian Institute of Management Kozhikode (IIM Kozhikode), acclaimed for its 3rd rank in the Ministry of Education’s NIRF 2023 rankings, has launched the Chief Operations Officer Programme in India. This programme is being launched in partnership with Emeritus, a global leader in delivering accessible and cost-effective high-quality education and features two exclusive online modules with certificates by Kellogg Executive Education.

The 12-month programme is designed for operational leaders and those aspiring to the COO role, as well as new and evolving COOs. For operational leaders, the program offers a deep dive into contemporary topics such as technology, design thinking, AI, digital supply chain, agile methodologies, and risk resilience, enabling them to optimize operational processes and build influential networks. Aspiring and newly appointed COOs benefit from a focus on cutting-edge practices that drive efficiency, innovation, and growth. The program equips them with strategic decision-making skills, cross-functional teaming expertise, and crisis management capabilities, complementing the CEO’s role.

According to PwC’s COO Insights, 49% of COOs strongly agree they can reinvent the business through new technology. This underscores the critical role of Chief Operating Officers in driving innovation and organizational transformation in the ever-evolving business world. As businesses increasingly rely on technology to stay competitive, the role of COO emerges as a vital one. Recognizing this expanding role of COOs, IIM Kozhikode’s new programme is aimed at helping these leaders stay ahead of the curve and effectively contribute to the sustainable growth and success of their organizations. By empowering participants to harness cutting-edge practices, the programme enables COOs to not only reinvent their businesses but also to lead strategic decision-making, enhance operational efficiency, and foster resilience in the face of technological disruptions and industry challenges.

The programme includes live-online sessions by the esteemed IIMK faculty along with two online modules delivered via pre-recorded video lectures by Kellogg Executive Education. It also includes a 3-day campus immersion with a leadership building workshop at IIM Kozhikode’s campus, hands-on learning with business simulations in Strategic and Global Supply Chain Management, a capstone project guided by the faculty of IIMK, a unique experience of peer-to-peer learning, and insights from industry practitioners. The modules of the programme, directed by Ashutosh Sarkar, Professor, Quantitative Methods and Operations Management Area, IIM Kozhikode and Arqum Mateen, Associate Professor, Quantitative Methods and Operations Management Area, IIM Kozhikode, includes operational diagnostics, SC agility, mitigating supply chain risks, business models and technology disruptions, Generative AI for business leaders, AI applications in supply chain management, AI and customer experience management, and delegation, execution and metrics for growth and success among others.

Expressing his excitement on the launch of the programme, Prof. Debashis Chatterjee, Director, Indian Institute of Management Kozhikode said, “The role of the COO has undergone a transformative shift, moving beyond driving operational efficiency to embrace the pivotal task of creating strategic advantage while connecting diverse functions. This programme reflects our commitment to developing agile and visionary leaders. The programme, meticulously crafted, is a testament to our dedication to equipping COOs with the strategic insights and leadership prowess needed in today’s dynamic corporate landscape. We believe it will serve as a catalyst for organizational excellence and empower COOs to steer their companies towards unprecedented growth and success.”

Commenting on the programme launch, Mohan Kannegal, CEO, India and APAC, Emeritus, said, “We are thrilled to partner with leading institutions like IIM Kozhikode to launch high-impact programmes that will help participants in their professional journeys. With the role of COOs expanding, it is essential to equip these leaders with essential knowledge and skills needed to navigate the ever-evolving technological landscape, emphasizing areas such as AI, digital supply chain, and engineering operations management. We believe that this programme will equip the COOs with technology and data-driven strategic mindset to enable customer-centric value creation and achieve strategic operational excellence while teaching them to spearhead transformation and organizational growth.”

The program is scheduled to commence on March 30, 2024, with a fee of INR 6,50,000 + GST taxes. Any graduate (10+2+3) or diploma holders (Only 10+2+3) from a recognised university (UGC/AICTE/DEC/AIU/State Government/recognized international universities) with an aggregate of at least 50% in graduation along with a minimum work experience of 10 years can apply for this programme.

Upon successfully completing all evaluation components and maintaining a minimum attendance of 75%, participants will receive one prestigious completion certificate from IIM Kozhikode. Additionally, upon successful completion of the two online modules with a minimum grading of 80%, the participants will receive two module certificates by Kellogg Executive Education

National, 1st March, 2024 – Welspun Enterprises Limited (WEL), the infrastructure and energy arm of Welspun World, has secured a significant contract to Design, Build and Operate a 2,000 MLD (million litres per day) Water Treatment Plant (WTP) at Bhandup Complex in Mumbai, from the Brihanmumbai Municipal Corporation (BMC).

The contract, valued at Rs. 4,123.88 Crores, encompasses the design, construction, and operations & maintenance of the plant. The value includes an Operations and Maintenance (O&M) component of Rs. 1,880.44 Crores. The design-build project is slated to be completed within a timeframe of 48 months, following which WEL will undertake O&M responsibilities for a period of 15 years.

The proposed water treatment plant, one of the largest in the world in terms of capacity, is located at BMC’s Bhandup Complex, which currently supplies drinking water to Mumbai City through existing Water Treatment Plants. WEL has partnered with Veolia, one of the world’s largest technology company specializing in the water sector, as its Technology provider for the upcoming plant. WEL aims to leverage advanced treatment processes and technologies, in line with its commitment to maximizing resource utilization and developing sustainable infrastructure solutions.

Over the last few years, WEL has made rapid strides and expanded its foothold in the water sector in India. The Company is currently executing some prestigious projects including the Rural Water Supply Project under Government of India’s Jal Jeevan Mission in Uttar Pradesh covering around 2,500 villages and the 418 MLD Waste Water Treatment Facility (WwTF) project at Dharavi, Mumbai. In August 2023, WEL acquired Michigan Engineers Pvt. Ltd. (now renamed to Welspun Michigan Engineers Limited) to expand in the urban water infrastructure and tunnelling solutions segment.

Commenting on the achievement, Mr. BK Goenka, Chairman, Welspun World, said, “The Bhandup WTP project marks a significant milestone in Welspun Enterprises’ growth journey. I firmly believe that our unwavering focus on technology and innovation will culminate in the development of a world-class, sustainable water treatment plant, ensuring access to clean water for Mumbai citizens while promoting environmental sustainability.”

Commenting on the project, Mr. Sandeep Garg, Managing Director, Welspun Enterprises Limited, remarked, “We are honoured to have been chosen as the preferred bidder by the BMC. With the Bhandup WTP project, WEL has expanded its portfolio to encompass a comprehensive range of solutions across the entire water spectrum. The water sector continues to be one of the key focus areas for us and this order synergises well with our overall growth strategy. Our strong capabilities and proven track record in delivering high value and critical infrastructure projects stand us in good stead to bag significant opportunities in future. Our team is fully committed to ensuring the highest standards of quality and efficiency in delivering this project, reflecting our unwavering dedication to excellence.”

Mumbai real estate market witnessed a significant upturn in February 2024, with property registrations soaring to 11,742, a 21 percent increase compared to February 2023’s 9,684 registrations, and a 7 percent rise from January 2024’s figures, as per data from IGR Maharashtra. This growth marks the highest number of property registrations for any February in the last twelve years, underscoring a buoyant demand for real estate in India’s financial capital. The prior peak in February 2022 was fuelled by heightened optimism and the release of pent-up demand as the pandemic effects diminished. However, the recent upsurge can be credited to rising income levels and a favourable sentiment towards homeownership, said Knight Frank India in its report.

Despite this surge in property registrations, the sector faced a downturn in revenue from stamp duty collections, which saw a 22% year-on-year drop from Rs 1,112 crore in February 2023 to Rs 865 crore in February 2024. However, on a month-on-month basis, there was an increase in stamp duty collections from Rs 760 crore in January 2024.

Here are the comments from the real estate experts on the robust property registrations:

Mr. Prashant Sharma – President, NAREDCO Maharashtra “We are witnessing an exceptional period in the Mumbai real estate market, as evidenced by the remarkable number of property registrations in February 2024. The continued upward trajectory in 2024, not only represents a strong start to the year but also signals a healthy and resilient market environment. We remain optimistic about the sustained growth and vitality of Mumbai’s real estate market, driven by favorable economic conditions, increasing income levels, and a collective aspiration towards owning property.”

Mr. Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty “The exceptional performance of the Mumbai housing market, marked by record-breaking home sales, reflects the city’s growing realization of the essential value of homeownership. This surge in demand is not just about securing a place to live; it’s about aspiring for an improved quality of life, fueled by rising income levels and the desire for a better lifestyle. Moreover, the development of new infrastructure has significantly enhanced connectivity and travel convenience, broadening the spectrum of housing choices available to prospective buyers. It’s a testament to how infrastructure development and economic growth go hand in hand in creating a vibrant housing market that meets the aspirations of its residents.”

Mr. Vedanshu Kedia – Director, Prescon Group “February 2024 stands out as a landmark month for Mumbai’s real estate market, with property registrations reaching a 12-year high. The market showcased remarkable resilience and growth that underscores the robust demand for real estate in the city. This surge in registrations paints a promising picture for Mumbai’s real estate sector. It is clear that the demand for homes in Mumbai is on an upward trajectory, driven by improved income levels and a positive outlook on homeownership. As we move forward, it’s crucial for stakeholders to leverage this opportunity to strategize and align with the evolving market demands.

Mr. Himanshu Jain, VP – Sales, Marketing and CRM, Satellite Developers Pvt. Ltd. (SDPL) “The Mumbai real estate landscape is witnessing robust growth, particularly in the demand for housing, leading to impressive home sale figures. A notable trend is the shift in preference towards the suburban areas, driven by the allure of improved infrastructure and connectivity which in turn enhances the quality of life. The demand for compact and affordably priced homes in these areas is on the rise, indicating a significant market shift. These homes not only offer an attractive price point but also cater to a broad range of lifestyle aspirations. The suburbs have become a focal point for those seeking quality living spaces that promise both comfort and convenience, marking a new chapter in Mumbai’s real estate development.”