Archives November 2023

Hyderabad/New Delhi, 25th November 2023:– Magicbricks, India’s leading real estate platform, released its flagship Rental Index for July-September 2023, observing that rents across 13 major cities in India soared 22.4% YoY and 4.6% QoQ. This follows a preceding quarter where rents surged by 4.9%.

Based on the behavior and preferences of over 2 crore customers on the Magicbricks platform, the report also observed that Thane (57.3% YoY), Gurugram (41.4% YoY), Greater Noida (28.7% YoY), Noida (25.2% YoY) and Hyderabad (24.2% YoY) observed highest appreciation in rent as compared to last year. The report also revealed that millennials (Age 18-34) constituted 67% of rental demand across these cities.

Sudhir Pai, the CEO, Magicbricks, commented, “The surge in rents reflects a confluence of factors—economic growth, urbanization, and the return to office by companies. High demand, coupled with limited supply has propelled rents, highlighting the evolving landscape of the real estate market. Further, as businesses reinstate in-office work, the need for housing closer to workplaces has also intensified, especially from millennials. However, notable is the slowdown in rent appreciation from the previous quarter, hinting at an expected deceleration in growth over the upcoming quarters as well”.

The report concludes that 41% of the tenants preferred mid segment rentals ranging between Rs 10,000 to Rs 30,000 per month. Further, the market is dominated by semi-furnished units constituting 52.7% of demand and 48.7% of supply.

Digital Marketing Agency Sociomark, has secured the Overall Digital Marketing mandate for Vedco. Vedco offers a blend of luxury goods that are pure, eco-friendly, and organic with affordable pricing.Its portfolio consists of Bamboo Hair brushes, Toothbrushes, Tongue cleaners, Socks and T-shirts made out of Bamboo fiber.

Sociomark, a Mumbai-based agency will take care of SEO, Social Media, Performance Marketing & E-commerce Marketplace Management for Vedco.Apart from this Sociomark will also be responsible for Influencer/brand collaboration activities.

Commenting on this, Heta Desai Baandal, Managing Director of Sociomark said, “We are extremely happy that we secured the Overall mandate for Vedco. Getting an oral health category client fueled our creative enthusiasm propelling us to deliver a pitch that was in line with the brand’s expectation. We are excited to offer our creative skills and strategic expertise to ensure that Vedco’s message reaches its desired audience with a strong, lasting impact.. We’re working on becoming their consultants and partners, as well as to guide them through any growth milestones. I am looking forward to making this collaboration a successful case study for us.“

Mr. Aakash Salecha, CEO – of Vedco comments, Sociomark redefines our approach, infusing innovation through sharp strategies, unparalleled creativity, and collaborative empathy. Entrusting Sociomark with our sales and social media, we jointly navigate the market’s dynamics, propelled by their insightful expertise and steadfast commitment to excellence. They’re the wizards behind our sales and social media, helping us ride the market waves with their savvy expertise and unwavering commitment to excellence.

MUMBAI, 25th November 2023: Education is an important pillar of India’s growth story. India has made significant progress to improve its educational infrastructure and ecosystem over the last few decades. As our country evolves socially & economically, so does the nature of the our problems. The process adopted to find solutions in the past will not be adequate to solve the problems of the future. Hence, there is a critical need to disrupt India’s education system to build our own problem-solving capacities. This disruption will need to be made through holistic efforts combining technology with new methods of learning.

Mrs Sangita Jindal, Chairperson of JSW Foundation said, “During the last three decades, JSW Foundation has been fostering equitable delivery of education to children residing in rural locations. Following the launch of MuSo, we are now taking the next step to revolutionize India’s educational landscape by innovating the delivery of learning in our country. Our latest initiative, MuSo, heralds a new era for education & the role of museums in India.”

For the longest time, it was believed that people should visit museums to learn about their history and culture. These museums offered an opportunity to look at the past as seen through the eyes of a small number of curatorial experts. JSW Group, through the launch of its initiative, Museum of Solutions (MuSo), is creating a new reason for Indian children to visit a Museum. MuSo is a place where children can look at the world through their own eyes, and work together to create a better future. MuSo opens its doors to the public on November 26th, 2023.

Ms Tanvi Jindal Shete, Founder of MuSo said, “We believe that similar to our Right to Choose, Right to Vote, Right to Information, today, the Right To Education is a reality. For more than a decade, I’ve held on to the belief that learning should be meaningful and fun for all children. So when I decided to establish MuSo, I dreamt of a space where children will be inspired, enabled and empowered to make meaningful change in the world, together, today. MuSo is a bold vision backed by the courage and belief that children don’t need to become adults to be changemakers. This is our gift to Mumbai for every explorer, dreamer and innovator, for all children, families and educators to come and reimagine our world, together.”

MuSo is a not-for-profit initiative designed as a world-class, experiential children’s museum to champion the art of finding solutions. It firmly believes in the collective potential and efforts of children to shape a brighter and more equitable future for everyone. Its innovative exhibits and learning programs are designed to promote participatory learning by encouraging children to take a leadership position in solution-finding practices. MuSo promises a fun and enriching experience for children and their families. Its exhibits and initiatives draw inspiration and direction from the Sustainable Development Goals (SDGs) of the United Nations, including over 50 programs and exhibits designed to encourage curiosity, and to find solutions related to the SDGs.

Ms Tanvi Jindal Shete further said, “Our approach and commitment is to empower children as young changemakers. We will accomplish this through hands-on activities and playful, self-directed learning to appeal to the natural curiosity of children. MuSo wants children to learn how to fail and try again. We want to equip children with the knowledge and skills to contribute meaningfully to the common good on a global scale. We do this by using the SDGs as our framework to begin talking about all the problems in the world. However, this is a place where children approach problems with a positive attitude and are encouraged to find creative and innovative solutions.”

To Establish MuSo Changemakers Council in 2024

In order to further its vision of empowering children to find solutions to India’s most pressing problems, MuSo plans to establish the MuSo Changemakers Council. The Council will be a recurring, year-long leadership and advisory program for children in the age groups of 11-14 years. Through the Council, a diverse group of Mumbai’s young people will be selected to engage in leadership training, to delve into challenges of significance to youth and their futures, and to advise the museum on strategy, programs, and policies. Members will be recruited through an open call for participation in 2024, and the first Council will serve during the 2024-2025 academic year.

MuSo Pricing Plans:

• Ticket Pricing For School Visits to be subsidized by MuSo’s Donors through CSR Grants: Through partnerships with local schools (private and public), MuSo aims to welcome more than 250 school groups every year. The generous CSR grants & support of its Donors will ensure that MuSo is offering 50% of these school visits free-of-cost and the other 50% at just INR 400 to 600 per student. This will ensure that students from every school— Anganwadis, Government Schools, Municipal Schools, National Open Schools, Schools For Special Children can visit and experience the Museum equitably.
• Free Monday For All: Additionally, every week, MuSo will host “Free Mondays” (except on public holidays) to ensure that children and their families from every walk of life can experience the museum, irrespective of their social or financial background. MuSo aims to welcome more than 50,000 children each year through this weekly initiative alone.
• Member Plans To Be Introduced Soon: MuSo will also introduce long-term membership plans and discounted packages for young children and their family members. These plans will cover monthly, quarterly, and annual visits.
• The income generated from ticket sales will be dedicated to ensuring the Museum’s ongoing upkeep & maintenance enabling it to continue offering world-class learning experiences to every child in Mumbai.

MuSo caters to a wide audience by offering a diverse range of experiences tailored to different age groups.

• For children, MuSo is an immersive indoor learning experience.
• For Students, it is a space to develop problem-solving skills and unearth new potential.
• For Young Adults, MuSo provides a platform for entertainment, education, and exploration, with offerings such as Subko Specialty Coffee & Craft Bakehouse, evening programs, exhibitions and more.
• MuSo also features the Library of Solutions (LiSo), an Art Gallery and a Museum Shop.
• With a Dynamic Roster of Programs and curated activities, MuSo aims to instil a growth mindset in children through both content-based and skill-building activities.

In the rapidly evolving realm of security, traditional methods are proving insufficient to address the sophisticated challenges posed by modern threats. Traditional security is reliant on individuals and has limitations when it comes to their presence at any given location. Additionally, it is susceptible to the influence of human behavior, which can pose a potential security risk. Traditional security is not a cost-effective solution, and its effectiveness depends on the presence of personnel. VProtect brings a distinctive product offering: an Alarm Monitoring and Response Solution that integrates technology and human resources to provide a unique, smart, user-friendly, reliable, and affordable security solution. Let’s delve into the unique aspects of VProtect’s intrusion detection and response services and how they differ from conventional security systems.

VProtect’s e-surveillance system delivers a wide range of practical benefits in terms of efficiency and security, making it an indispensable service for various applications. The system provides round-the-clock monitoring, which is vital for ensuring intrusion safety and fire safety, as it guarantees continuous protection against unauthorized entry and fire-related incidents. With its alert-based monitoring, VProtect minimizes the risk of missing critical events, sending immediate notifications in cases of panic attacks or medical assistance needs, thereby improving response times. The use of AI-enabled visual platforms verifies alerts accurately, reducing the occurrence of false alarms and ensuring that resources are allocated to genuine security concerns, thus enhancing overall efficiency. VProtect’s strong civic coordination with law enforcement, fire services, and medical professionals contributes to faster and more effective responses during emergency situations, such as burglaries or medical emergencies. Scheduled geofence beat patrolling is employed to create a visible security presence in specific areas, acting as a deterrent to potential threats and enhancing overall security. Additionally, the system respects user privacy while maintaining their security, offering a valuable safeguard.

VProtect has played a crucial role in various situations, such as detecting and verifying intrusions, and immediately alerting the police for immediate response. It has also been instrumental in scenarios involving elderly individuals facing medical emergencies, triggering alerts that result in swift medical assistance, among other instances.

Diverse Sectors, Customized Solutions

VProtect’s Alarm Monitoring and Response services cater to both residential and business segments. In the B2C sector, the focus is on residential spaces, including independent houses, apartments, and small home offices. For B2B, VProtect serves banks, ATMs, retail, logistics, and offices, offering customized solutions for various applications, including energy management and secured lock operations. The company’s adaptability is a testament to its commitment to diverse customer needs.

Residential Security in India: Anticipating Future Trends

The residential segment is anticipated to be one of the high-potential segments for security solutions in the future. Awareness of the benefits of security services is on the rise. Simply installing security products on premises is insufficient; professional support and management are essential to provide effective monitoring and timely response services. Security encompasses more than just intrusion, theft, or burglary; it also includes fire, medical emergencies, panic situations, and other events requiring immediate attention and response.At VProtect, we have India’s largest AI-enabled Alarm Receiving Centre, in terms of capacity operating on a global monitoring platform using the best security technology from ISREAL to offer a seamless customer experience. All functionalities can be controlled via a mobile phone from anywhere in the world. VProtect’s services can be tailored to meet customer needs, whether it’s for intrusion detection, premises security, fire, medical response, and more. Additionally, VProtect offers customized solutions for elderly individuals, children, and people who are frequently on the move.

Adapting to Industry Changes: The Role of AI in the Indian Security Sector

With the integration of AI capabilities, the security industry is undergoing significant changes in terms of customer expectations, technological adaptation, process improvement, automation, and cost optimization through technology. These changes include the implementation of smart intrusion and CCTV solutions on a real-time monitoring platform to manage incidents.

VProtect, a 100% subsidiary of SIS Group Enterprises (a market leader in the security, facilities management, and cash logistics business), has been at the forefront of introducing technology to the security sector. VProtect has made investments in a state-of-the-art Alarm Receiving Centre operating on the global platform MasterMind, and it incorporates the latest wireless technology from Israel to provide the best and most up-to-date security solutions in the Indian market. VProtect has observed positive adaptation in the B2B market to this innovative security approach, creating new opportunities across various segments, with significant potential for growth in the residential sector in the years to come.

In conclusion, VProtect’s AI-enabled intrusion detection and response services represent a significant leap forward in the security domain. As the security landscape continues to evolve, VProtect’s innovative approach ensures that it remains a key player in safeguarding the future.

Kolkata 25th November 2023:AmpIn Energy Transition, India’s leading renewable energy transition platform, is set to make a significant impact on India’s power landscape in the Eastern region with a ground-breaking investment
of INR 3,100 crores. The investments are for setting up renewable energy projects of about ~600 MW+ and an integrated manufacturing facility of solar cells & modules. Significant investments are planned in West Bengal, Bihar,

Odisha, Jharkhand, Chhattisgarh & Northeastern States. The investment reflects AmpIn Energy Transition’s commitment of accelerating the renewable energy transition and adoption of clean energy solutions in the Eastern region.

In the region, the company has the largest solar open access portfolio of ~200 MWp, the largest utility PPA with CESC for a 250 MWp of wind solar hybrid project, and the largest Behind the Meter industrial solar project of 10.5 MW for an industrial customer. With its diversified portfolio of assets, AmpIn is helping customers save about 25% – 40% on their energy costs & also helps mitigate their carbon footprint substantially. The company is serving marquee customers in the region across diverse sectors such as Cement and steel, IT and data Centre, Heavy engineering, FMCG, Utility etc through its projects.

Mr. Pinaki Bhattacharyya, MD and CEO, of AmpIn Energy Transition, expressed “Time has come for the Eastern region which is the home of coal to embrace renewable energy. Our investment in the region marks a significant milestone in our mission to drive the transition to renewables in the region. AmpIn can partner with any customer to help them achieve 100%RE and we believe that with the right policy intervention like Green Energy Open Access, the shift to renewables is unstoppable. Also, the integrated solar cell & module manufacturing capacity that we are establishing in the region, would strengthen the push to renewables.Collaboration between industry, solution providers, the financial sector, and government at both central and state levels is also crucial for a successful transition. The 4 wheels that must be synchronized for Energy Transition: financial markets, an industry that decarbonizes and saves energy costs, energy transitioners that create solutions for renewable energy transition, and a government that sets the right policies to support the transition for the Eastern region.”

AmpIn is also establishing a state-of-the-art 1.3 GW solar manufacturing facility in Odisha. This facility is poised to play a pivotal role in advancing the country’s solar energy ambitions and self-sufficiency. The strategic location in the eastern region for solar manufacturing underscores AmpIn Energy Transition’s commitment to contributing to the economic growth of the region.The 1.3 GW solar manufacturing unit is expected to create job opportunities, stimulate economic development, and position the eastern region as a key player in the renewable energy sector.

Ampln on Thursday also conducted a seminar on Renewable Energy Transition for Commercial and Industrial
Consumers in Kolkata in partnership with industry association FICCI which had dynamic panel discussions among energy leaders from the government and industry, financiers, and other stakeholders, discussing the Roadmap to achieve 100% RE for corporations and industrial consumers in East India.

Bangalore, 25th November 2023: In India, homes serve as the nucleus of people’s lives. While people frequently participate in various experiences at restaurants, concerts, or theatres, a subtle yet inherent concern about home safety always persists. This was revealed in a new research study ‘Live Safe, Live Freely’ by Godrej Locks & Architectural Fittings and Systems, a business of Godrej & Boyce, the flagship company of the Godrej Group. The study offers unique insights into Indians’ lifestyle and technology choices for home safety that enable them to live freely.

One of the key insights, the study revealed is that 42% of the respondents have left live events or social gatherings early to coordinate an exchange of keys at home. These occurrences shed light on the dependence for home access, which compels people to return home.

According to a popular event ticketing portal, in 2022, about eight million people stepped out for live entertainment from across over 19,000 events. The study ‘Live Safe, Live Free’ study complemented this data as it revealed that 54% of the respondents expressed discomfort at the idea of disturbing their neighbors for a spare key, when attending late night events. Further, 41% of the respondents claim that if they had left their home and realized that their geyser home or gas on, they would rush back home.

According to Shyam Motwani, Business Head at Godrej Locks & Architectural Fittings and Systems, “These primary insights from the ‘Live Safe, Live Free’ study delve into consumers’ sentiments about the most intimate aspect of their home, which is safety. The insights from the study intimately demonstrate to us people’s concerns about home safety while also revealing their aspirations and how best we can meet them. While there is still an evident dependency on external factors in the way Indians perceive the safety of their homes, they are also seeking reliable tech solutions that enable them to live safe and live freely in today’s fast-paced world. At Godrej Locks, a brand synonymous with trust, we understand the needs of our consumers and develop innovative, cutting-edge, digital home safety solutions that offer both convenience and safety, allowing them to live free.”

The study ‘Live safe, Live Freely’ aimed to understand human behaviour on the adoption of smart-home devices to ensure safety and convenience. It was undertaken amongst 2,000 individuals across five cities including Mumbai, Delhi, Kolkata, Bangalore and Bhopal.

Delhi,25th November 2023:Wellify, one of India’s fastest-growing D2C health and wellness platforms by Piramal’s Consumer Product Division (CPD), has announced that it has joined Open Network for Digital Commerce (ONDC) Network to leverage on its scale and expand reach.

Wellify’s D2C catalogue is now discoverable by buyers through the ONDC Network. With this integration, their catalog of Lacto Calamine, Littles, CIR, Tri-Activ, Women’s intimate health range and Tetmosol can be seen on all buyer apps that a consumer is shopping from across a Network that is rapidly developing, while seamlessly facilitating transactions.

Wellify is an emerging market leader in the D2C space with its innovative range of products across skin care, baby care, women’s intimate health, home essentials and various other categories. By leveraging the Shopalyst ONDC connector, it aims to create multiple consumer touchpoints through disruptive innovations.

T Koshy, CEO and MD, ONDC, said, “Wellify joining the ONDC Network represents a key step in India’s health and wellness landscape. This collaboration opens the doors to a healthier and more accessible future for all. Through ONDC, we are determined to revolutionize the way consumers access and experience a well-rounded and healthier lifestyle.”

Nitish Bajaj, CEO, of Piramal CPD said, “We are thrilled to be one of the first players in the health and wellness space in India to join the ONDC Network. As a company that is always looking to innovate and disrupt the market, joining the ONDC Network will help Wellify achieve additional scale. This integration will help us widen our reach, be easily accessible to consumers across the country and provide them with our innovative range of products.”

Girish Ramachandra, CEO of Shopalyst adds, “We are excited to collaborate with Piramal Group in their journey to join and thrive on the ONDC Network. We believe in the transformative potential of ONDC for brands to get discovered by consumers, and grow their online sales.”

Wellify, Piramal’s D2C store has been growing exponentially over the last 18 months. The platform offers unique capabilities like No Minimum Order Value, Serviceability across 25,000+ pin codes and Authentic products from House of Brands like Lacto Calamine, Littles, CIR, Women’s Intimate Health and so on. Over the last 18 months, Wellify’s order volume has increased 10x and the consumer base has increased 20x. Overall, it is on its way to contribute 10% to the overall e-commerce revenue of Piramal CPD by FY24.

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Mumbai, 24th November 2023:Results of the second edition of the prestigious Digital Native Brands Awards (DNBA) were announced at a gala ceremony in Mumbai on November 22, 2023. Given away in 19 categories, the Awards celebrate and honour businesses and brands that have harnessed the power of digital technology, epitomize the spirit of digital entrepreneurship, and leverage technology as a core driver of their success.

Winners of the two top categories of the DNBA this year were Manish Chowdhary, WOW Skin Science, who bagged the Best Digital Native Brand Entrepreneur Award, and Ghazal Alagh, Honasa Consumer Pvt Ltd (Mamaearth), who received the DNB Woman Entrepreneur of The Year Award.

“Grateful and honoured to receive the Internet and Mobile Association of India’s Best Digital Native Brand Entrepreneur of the Year Award! This recognition fuels our passion for innovation and customer excellence, affirming our commitment to pushing boundaries in the digital landscape. It’s a testament to the hard work of our incredible team and the unwavering support of our customers. Thank you for believing in our vision, and here’s to pioneering the digital future together, creating even more impactful and inspiring experiences,” said Manish Chowdhary, speaking about his achievement.

This year there were over 150 entries for the DNBA, which were adjudicated by a jury, comprising respected industry leaders such as Aloke Bajpai, Amitabh Bishnoi, Atul Mehra, Badrinath Mishra, Karun Arya, Krishna Kumar, Pooja Sahgal, Siddharth Pai, Vipin V and Vinay Bhartia.

Winners in other categories of the 2nd DNB Awards are:

• · Best Brand Building/Brand Identity Initiative by DNB Brand: Dream11
• · Best Payment Innovation for DNB: PayU Payments
• · Best Brand Extension/Product Diversification by DNB Brand: One 97 Communications Ltd [Paytm]
• · Best Technology Innovation for DNB: Smytten [Smytten Pulse]
• · Best Consumer Experience: Fibe [EarlySalary]
• · Best use of Digital Marketing/Social Media: Facebook, LinkedIn and Instagram: Tata Neu [Tata Digital Private Limited]
• · Best Content Marketing Strategy for DNB: Assembly
• · Best Use of WhatsApp Marketing: Netcore Cloud for IGP
• · Best Customer Loyalty Initiative of The Year by DNB Brand: Tata Neu [Tata Digital Private Limited]
• · Best Use of Email Marketing: Netcore Cloud for MakeMyTrip
• · Best Influencer Marketing Campaign: Tata Neu [Tata Digital Private Limited]
• · DNB Product Innovation Award: Chalo Mobility
• · Best Integrated Marketing Campaign: BrandLoom Consulting LLP
• · DNB Product Innovation Award: Coffeeza
• · Best Omnichannel Strategy: Pee Safe
• · Best Supply chain and logistics Partner for DNB: Shiprocket
• · Best Lending Innovation for DNB: Velocity [White Wizard Technologies]

Gurugram-based Masters’ Union, the new-age business school today released their audited placement report for their PGP (MBA) cohort of 2023. The average package for the 1-year MBA/PGP programme stands at Rs. 34.07 LPA. The placement report is audited by Brickwork Analytics, the rating and auditing agency that audits IIM Ahmedabad’s placement report.

137 companies joined the recruitment drive, with the highest package offered standing at Rs. 57.08 LPA. While the top 25% of the batch landed an average package of Rs. 44.67 LPA, the bottom 25% landed an average package of Rs. 22.35 LPA, marking an 11.64% increase from their previous years’ average.

Manoj Kohli, Chairman, Board of Governors (Masters’ Union), said, “With a global economic downturn, the year 2023 was surely difficult. With constant stories of major layoffs and hiring freezes, we all approached this year’s placement season with anxiety. Both the Careers Advisory Team and the students worked twice as hard to discover recruiters, convert shortlists, and land interviews. I am very pleased that we could open placements in venture capital firms, Founders’ Office roles, and specialist consulting organisations, many of which are recruiting from B School for the first time.”

Pratham Mittal, Founder, Masters’ Union, said, “At Masters’ Union, we’re all about real-world learning. We push students to dive in, move beyond the books, and truly get their hands dirty. Our mission is to propel each student towards an accelerated career journey, arming them with top-tier education and practical skills. We have full faith in our alumni—they’re destined to shatter ceilings and make a global impact. Our success stories include alumni securing positions in renowned companies like Bain & Company, Cisco, EY-Parthenon, ISRO, Razorpay, Ziploan, and more, a testament to our programme.”

The cohort of 2023 saw a substantial increase in salaries, from Rs 8.7 LPA before their MBA to Rs 34.07 LPA after—an impressive 3.91X jump. Consulting topped the list with 21.2% of offers, followed by Venture Capital at 19.0%, Finance and fintech at 18.3%, Consumer at 14.6%, Emerging Tech at 10.9%, and Large Tech at 4.4%. Recruiters in consulting included McKinsey, Bain and Company, BCG, Accenture, Samagra, EY, Deloitte, PwC, and others. Finance & FinTech had companies like Citi, Aditya Birla Capital, HSBC, CRED, and ICICI Bank among their recruiters.

“Students from the previous Masters’ Union cohort have showcased remarkable performance within their teams at Razorpay, attributing their success to their solid grounding in business and leadership skills. The consistently exceptional quality of the Masters’ Union students for three consecutive years is a testament to the school’s hands-on methodology, where practical business ventures provide real-life context for learning. From my personal experience, I can attest that the emphasis on industry exposure and mentorship courses has prepared these graduates to flourish in the fast-paced and competitive world of business. I look forward to returning next year to witness their continued growth,” said Atul Mehta, SVP, Razorpay.

The report highlighted career transitions for students that encompass roles like Scientist Engineer at ISRO, Product Manager at Cisco, and Growth Manager at Seekho 19. The report also demonstrated internal growth within industries, where alumni have secured promotions to roles such as Senior Manager-Co Lending Partnerships at Ziploan, Senior Management Consultant at EY, and Product Strategy Manager at MoEngage. The cohort also saw the emergence of multiple startups founded by students who underwent the Venture Initiation Program. Some startups include Buzzinga, Crispee, 73 Boston, Soul Gappa, Samarpana, StockUp, Pour, Modulus Fitness, Fundee, Infiniti, Trago, Clitterbird, Samooh, Spik Wash, Unsurge, and Cybertruck, with the first two securing funding of Rs 27.5L each.

New Delhi, 24th November 2023 – Nova Formworks, a leading name in the construction industry, famous for its plastic formwork systems, is not only reshaping the construction landscape but also making a significant impact on society through its ongoing food drive initiative. Since the inception of food drive in 2021, Nova Formworks has dedicatedly worked towards addressing food insecurity, benefiting over 33,000 underprivileged people to date.

The inspiration behind this initiative traces back to the challenging times of the COVID-19 pandemic when Nova Formworks participated in the online Date with Destiny program by Tony Robbins. Witnessing the transformative impact of a food drive in the United States, the company was encouraged to contribute on a local scale, considering it a small yet impactful step towards societal well-being.

Expressing his enthusiasm, Mr. Vikas Mittal, Managing Director, Nova Formworks said – “Our commitment to social responsibility aligns with our vision for the future. We firmly believe in not only transforming the construction industry but also positively impacting the lives of the needy ones. As we witness the growing success of our food drive, we are motivated to enhance its impact further, transitioning from a weekly to a daily initiative.”

In 2021, Nova Formworks embarked on its mission to give back to society by initiating a weekly food drive. The efforts in the first year alone resulted in the distribution of food to 15,825 people. Building on this success, the company expanded its reach in 2022, providing sustenance to 17,690 individuals. The cumulative impact reached a commendable milestone of 33,515 people being positively affected by Nova Formworks’ commitment to social responsibility.

In the current year, Nova Formworks has continued its dedication to this cause, with 12,655 people already benefiting from the weekly food distributions in 2023. This expansion exhibits Nova Formworks’ steadfast commitment to making a positive impact on the communities it serves.

Nova Formworks has now automated its food drive, collaborating with a dedicated team responsible for food preparation and distribution to designated areas. The team has been appointed to oversee the weekly initiative, ensuring its smooth execution. Furthermore, Nova Formworks’ associates and friends have joined hands in supporting this cause, contributing to special occasions and events.