Category: REAL ESTATE
Irfan Razack, CMD, Prestige Group Honoured With Karnataka Rajyotsava Award 2024
Irfan Razack, Chairman and Managing Director of the Prestige Group, was awarded the prestigious Karnataka Rajyotsava Award on 1st November 2024 in recognition of his outstanding contributions to the Real Estate industry and his dedication to the economic and infrastructural development of Karnataka. This distinguished honour, bestowed by the Government of Karnataka, celebrates individuals who have significantly impacted their fields, contributing to the state’s growth and progress.
Irfan Razack has been a pioneering force in transforming the skyline of Bangalore and other cities across India. Under his visionary leadership, Prestige Group has not only redefined real estate standards but also championed sustainable urban development, social responsibility, and community engagement. Through a vast portfolio spanning residential, commercial, retail, and hospitality sectors, Mr. Razack’s work has left an indelible mark on the real estate landscape and has set a benchmark in the industry.
He has also been recognized for his exceptional leadership, being voted one of Asia’s Best CEOs in 2014 by Institutional Investor magazine and receiving ‘The World’s Greatest Leaders’ award by Asia One in 2015-16. His achievements have placed him among India’s top builders and leaders. In addition to his professional accomplishments, Razack is actively involved in numerous philanthropic and corporate social responsibility (CSR) initiatives, supporting causes that benefit society at large.
Ms. Uzma Irfan, Director, Corporate Communications, Prestige Group, expressed her heartfelt congratulations to CMD, stating, “We are immensely proud of Irfan Razack’s recognition with the Karnataka Rajyotsava Award 2024. His profound passion and steadfast commitment to not only constructing buildings but also creating environments that enhance lives and inspire communities have been pivotal in shaping the trajectory of Prestige Group. This prestigious award serves as a testament to his dedication to the state of Karnataka and the core values he exemplifies in all his endeavors. We extend our heartfelt congratulations to Irfan Razack for this well-deserved accolade, which further underscores his significant legacy in Karnataka’s growth story.”
The Karnataka Rajyotsava Award 2024 acknowledges Mr. Razack’s exceptional professional contributions and his unwavering commitment to enhancing the connectivity and strength of Karnataka. This award serves as an inspiration for future generations, illuminating the path toward excellence and community engagement.
“MY SAMPPATI- Ab Aapka Ghar Hamari Zimmedari”” by Kappil Jhaverri & Atrri Mukherjjee unveils a new era in real estate – INDIAN NEWS & TIMES
Today marks a momentous occasion in the world of real estate as “My Samppati” proudly announces its official launch. With a vision to revolutionize the industry, they set to redefine luxury living and deliver unparalleled service to clients seeking their dream homes. Founded on the principles of integrity, innovation, and excellence, “My Samppati” sets out to become the premier destination for homebuyers and investors alike. Backed by a team of seasoned professionals and industry experts, the brand promises to exceed expectations in every aspect of the real estate journey.
My Samppati, believes in the power of comprehensive home solutions that truly make a difference in people’s lives. Their vision is simple yet powerful-to provide top-notch home solutions at zero cost, ensuring that every individual can enjoy a convenient and comfortable living space without breaking the bank. They are committed to serving their customers with utmost dedication, even if they don’t make a home purchase through them.
Unlike other platforms that charge fees for providing leads and services, My Samppati stands apart by offering their valued customers the leads without any charges. Whether it’s plumbing. electrical work, home improvement, or any other home-related service, My Samppati has got you covered.
While choosing My Samppati, their clients gain access to a comprehensive range of home solutions that cater to their every need. No more hassle of contacting multiple service providers or dealing with inflated service charges. They collaborate with renowned service providers and present their customers with the perfect product to fulfil all their home solution requirements.
Their mission is deeply rooted in the belief that everyone deserves a beautiful and functional home without the burden of additional costs. They are on a relentless quest to redefine the home solutions industry by putting the needs and satisfaction of their customers first.
Kappil Jhaverri is the proud founder and promoter of “My Samppati,” a pioneering end-to-end home solution company with a vision to provide multiple services to their clients at zero commission. With a strong passion for real estate and property, he has built an impressive portfolio of properties in Goa and Mumbai, alongside engaging in multiple successful land transactions in Maharashtra and Goa. Commenting on the launch of “My Samppati”, he says “With transparency, honesty, and integrity as our guiding principles, we strive to build long-lasting relationships with our clients, based on trust and mutual respect. We understand that your home is a reflection of your dreams and aspirations, and we go the extra mile to ensure that every aspect of your living space is taken care of with the utmost professionalism and efficiency. We are excited to embark on this journey with you, transforming houses into warm and welcoming homes”
India-based startup ‘MetaShop, is democratising 3D content creation for industries
The India-based startup, MetaShop, which is democratising 3D content creation for industries like E-commerce, Gaming, Real Estate, and others, announced on Oct 16th that it was selected for the Women Founders Fund. The Women Founders Fund is a program that provides $100,000 in support, mentoring, and Google product support to female entrepreneurs running AI-based startups based in the Asia-Pacific region to successfully lead their startups and grow as leaders.
I hope that we can act as a stepping stone for these startups to expand globally. We will continue to support women founders in their growth and development. MetaShop was founded in mid-2022 by Sophiya Jagannathan (CEO) and Mukul Ingle (CTO). During COVID, they wanted to purchase furniture but faced the problem of not being able to visualise how it would look in the real world. They were frustrated by the limitation of having to visit each store in person. To tackle this challenge, they leveraged cutting-edge AI, where now anyone can simply record a video of any object on their phone and generate 3D assets instantly.
The selection criteria for this program are: ‘at least one full-time female entrepreneur among the founding members, female entrepreneurs participating in the program are fluent in English, startup headquarters located in India, Japan, or Korea, and receiving Series A investment from Seed. It is a ‘start-up with an advanced, technically feasible use of artificial intelligence, and ready for global expansion.’ This year, startups from three countries were selected: Korea, India, and Japan. MetaShop was selected in recognition of the use of AI technology and the potential for future development of the business. Mike Kim, Head of Google for Startups APAC, said, “I’m happy to support the Women Founders Fund to startups that are creating innovation with AI technology.
Through this innovative AI solution, an XR company can reduce their project completion time by 8x, and E-commerce companies can easily integrate AR experiences onto websites, increasing conversion rates by 35% and user engagement by 60%. Sophiya Jagannathan, CEO of MetaShop, says, “I strongly believe that in the coming decade, everything you see digitally will be three-dimensional, from surfing online to buy furniture to chatting with your friends through avatars. You will be able to experience everything, from real-life objects/scenarios to your very own imaginary world, like the movie ‘Ready Player One,’ from the comfort of your space.
At MetaShop, we aim to supercharge this next digital era by empowering businesses to provide XR experiences to millions 10x faster, while keeping in mind the market needs and evolving as we go.” As the immediate next step, MetaShop aims to overcome the challenges of building an AI startup in India with the support of Google for Startups, with the vision to build a one-stop solution for all your 3D content creation needs from Video-to-3D, Text-to-3D all made possible by AI. Google for Startups will host a Founders Academy for female entrepreneurs in the first half of 2024. Founders Academy provides workshops and mentoring to enhance the leadership and talent management skills of startup entrepreneurs
JLL India and Indian School of Hospitality (ISH) partner to shape future real estate professionals
JLL India, one of the largest real estate consultancy firm, today announced a partnership with the Indian School of Hospitality (ISH) to develop the next generation of talent in real estate operations and HR. This strategic collaboration addresses India’s dynamic real estate market’s growing need for skilled professionals.
The partnership with ISH introduces a specialized one-year Postgraduate Programme (PGP) in Hospitality Management, tailored to meet the evolving demands of real estate-linked services. This innovative program combines six months of advanced academic learning at ISH with a five-month applied immersion across JLL India’s operational network.
“At JLL, we are committed to investing in future-ready talent. By funding 50% of the program fee for each participant, we are ensuring that selected candidates are well-equipped for long-term careers within our real estate advisory ecosystem. This investment aligns perfectly with our growth and talent strategy in India. This collaboration exemplifies JLL’s commitment to shaping the future of real estate through education and industry partnerships. By aligning academic excellence with practical industry experience, we are creating a talent pool which is future ready and ready to handle the dynamic and ever evolving FM sector,” said Ajit Kumar, Managing Director, Work Dynamics Accounts, West Asia, India, JLL, emphasizes the significance of this partnership.
The ISH-JLL Postgraduate Programme is designed to create a pipeline of professionals who are not only operationally sound but also adaptable to the complexity of modern real estate environments.
“This is what industry-academia collaboration should look like, where education aligns with employment, and industry takes the lead in shaping future talent. In every strong economy, real progress begins when institutions and companies come together to create pathways that lead to growth. This partnership creates opportunities that lead to careers, with clear visibility on progression and purpose. It gives young professionals the return they seek on their invested time, and the confidence to build their future with intent,” said Kunal Vasudeva, Co-Founder & Managing Director, Indian School of Hospitality.
GOCL Corporation Limited sees a big opportunity in the growing and lucrative realty sector – INDIAN NEWS & TIMES
GOCL Corporation Limited, a Hinduja Group Company, announced its Q1 financial results for the fiscal year 2023-24. Despite market headwinds, the company has effectively managed its performance, showcasing its ability to adapt and implement strategic measures. The company reported a consolidated revenue of INR 259 crores and PAT of INR 12 crores.
With unprecedented market dynamics, escalating raw material costs, and inflationary pressures influencing the overall financial performance of the quarter. GOCL remains dedicated to expanding its portfolio through continuous product strategy innovation and an unwavering commitment to customer-centric values, all geared towards long-term growth.
Commenting on the quarter’s outcome, Mr. Pankaj Kumar, MD & CEO of GOCL Corporation Limited, remarked, “The fluctuations of this quarter underscore the dynamic nature of our business landscape. Rather than being discouraged by these results, we’re motivated to refine our strategies and adjust as needed. We have embarked on a host of initiatives to align our various business functions toward a unified and shared objective. These efforts are aimed at streamlining processes, enhancing collaboration, and collectively driving the company’s long-term success. Our dedication to innovation, customer-centered principles, and sustained growth remains steadfast.”
Segment-wise performance and highlights are as under:
ENERGETICS AND EXPLOSIVES
The income of Energetics for the quarter stood at INR 35 Crores.
The wholly-owned subsidiary, IDL Explosives Limited (IDLEL) quarterly income at INR 171 Crores.
The Company along with IDLEL has orders in hand of INR 551 crores to be executed over the next two years.
REAL ESTATE
The Company sees a big opportunity in the growing and lucrative realty sector, and is planning to monetize its large land bank at Bangalore, Kukatpally and Bhiwandi.
With respect to the Ecopolis project at Bengaluru where a commercial space of 14.54 lac sft is in place, the Company is exploring alternate ways of generating income from the property.
In line with the growing demand for warehouses in Mumbai, the organization is looking to develop state-of-the-art infrastructure on the company owned land in Bhiwandi.
Indeed’s Year-End Report: Unveiling India’s Blue-Collar Hiring Trends in 2023 and the Future of Work
Indeed, a leading global hiring and matching platform is introducing the 2nd edition of its Blue Collar Hiring Tracker (BHT), unveiling noteworthy trends in India’s blue-collar job market in 2023 and the outlook for 2024. By providing curated data-driven insights, this report is a valuable resource for informed decision-making among corporations, employers, and aspiring blue-collar job seekers.
The blue-collar workforce saw a rise of 7.40% in hiring in 2023. Logistics, construction and real estate, and tourism and hospitality emerged as the top sectors for lucrative job opportunities. Kolkata emerged as the leading metro city showing growth in hiring. Following closely behind, Pune and Chandigarh have emerged as the top-tier 2 cities displaying substantial progress in employment opportunities. Several factors, including the growth of SMBs, urbanization, infrastructure development, expansion of the service sector, and a cost-effective labour market, are contributing to the thriving job growth in these cities.
Top Sectors and Cities | Percentage Growth
| Sector | Metro Cities | ||
| Logistics | 8% | Kolkata | 9% |
| Construction & Real Estate | 8% | Mumbai | 8% |
| Tourism and hospitality | 8% | Bangalore | 8% |
In 2023, blue-collar employers looked for GenZ talent, while white-collar sought millennial candidates: 49% of blue-collar employers leaned towards hiring GenZ candidates (aged below 26), while 41% of white-collar employers sought out millennial recruits (aged 27-41). The inclination displayed by blue-collar employers could be in response to rising automation and the resultant requirement of a digital-savvy workforce. At the same time, a younger workforce is also more adept at manually heavy tasks due to their higher physical endurance. Both digital literacy (27%) and physical strength (83%) are also among the primary hard and soft skills that employers aspire for while hiring. Conversely, the preference for millennial recruits by white-collar employers suggests a nuanced approach to tasks that may require experience and refined skill sets.
Desired Skill-set: Other hard skills that employers prioritize include driving (53%), knowledge and operation of machines equipment (33%), while soft skills include teamwork (79%) and communication (79%).
The top 3 sectors that exhibited significant hiring trends including logistics, construction and real estate, and tourism and hospitality, also had teamwork and communication emerging as the foremost skills essential for successful work execution and collaboration.
Entry-level positions experienced the highest volume of hiring: 2023 presented a promising landscape for newcomers as employers hired the most for entry-level positions. Employers across industries are showing interest in recruiting individuals who are at the initial stages of their career journeys thus indicating that individuals with different skill sets and educational backgrounds have avenues for employment. This investment might indicate a proactive approach to securing and training future professionals and skilled workers within their respective industries.
Employers are ready to embrace Next-Generation Technologies: The survey findings also show that employers are ready to embrace next-generation technologies. While 42% of the employers indicated their interest in commencing integration with AI by taking small steps in 2024, 19% of the employers conveyed that they have already put them into effect. This transition towards technological adaptation signifies that a substantial proportion of employers are increasingly leveraging AI’s capabilities to streamline processes, increase efficiency, and innovate in their respective fields.
NCW Prime Offices Fund Buys Out Chennai Office Campus from Keppel in a Landmark Deal
Prime Offices Fund (PRIME), a Commercial Real Estate focussed fund managed by Nuvama and Cushman & Wakefield Management Private Limited (NCW), a joint venture between Nuvama Asset Management Limited and Cushman and Wakefield, has announced the acquisition of a marquee 2.4 million sq. ft. office campus located in Porur, Chennai. The asset was acquired through a 100% buyout from Keppel’s real estate division, at transaction value of approximately INR 2,550 crores, marking PRIME’s second acquisition and a significant milestone in its strategy to build a portfolio of future ready, high-quality, ESG-compliant office assets across India’s fastest-growing micro-markets.
The Campus is a LEED Platinum development, leased to a diversified tenant base comprising both Global Capability Centres (GCC) and domestic technology majors. Located in one of Chennai’s most attractive office corridors, the asset offers institutional-grade infrastructure, campus style amenities and excellent connectivity to key residential and commercial hubs.
This acquisition underscores PRIME’s philosophy of investing in future-ready, sustainable, performance-led assets in strategic micro-markets that cater to the evolving needs of global occupiers. With its scale, sustainability credentials, and blue-chip tenant profile, the asset strengthens the fund’s ability to deliver resilient returns and long-term value to investors.
This landmark transaction is one of the largest ever in the rapidly expanding Indian Office market. This also marks the largest trade executed by any domestic fund, in a space otherwise dominated by global capital pools. This milestone reinforces PRIME’s commitment to delivering global standard investments tailored for domestic investors.
Gaurav Puri, Chief Investment Officer, NCW commented, “This second acquisition under PRIME is a strong validation of our strategy and execution. With this, we’re reinforcing our commitment to building a portfolio that reflects the evolving priorities of global occupiers: sustainability, agility, and institutional-grade quality. Chennai continues to attract deep occupier interest, especially from GCCs, and Porur stands out as a micro-market with long-term fundamentals. As we expand our footprint, our focus remains on high quality ‘offices-of-the-future’ that meet the expectations of our investors and set new benchmarks for commercial real estate in India.”
Prestige Group is unveiling its largest residential development in Whitefield, Bengaluru – INDIAN NEWS & TIMES
Prestige Group, country’s leading real estate developer with a portfolio of more than 250 delivered properties across 7 cities, has announced the launch of Prestige Park Grove – a large residential township in Bangalore.
Located in Whitefield, the IT Hub of the city, Prestige Park Grove is a community of 3627 splendid apartments and 88 opulent villas. These magnificent residences, designed with the discerning homeowner in mind, combine cutting-edge architecture, world-class amenities, and an unrivalled location to provide the ultimate urban living experience.
Prestige Park Grove has more than 20 Acres of green spaces, providing its residents a serene refuge away from the hustle and bustle of daily life. The project is located 3 kilometres from the Whitefield (Kadugodi) Metro Station, which allows convenient access to the CBD and the rest of the city. Furthermore, it is only a 15-minute drive from major commercial hubs, shopping complexes, and entertainment venues.
Commenting on the launch, Mr. Irfan Razack, CMD, Prestige Group said, “Embarking on a journey that resonates with innovation and excellence, we are thrilled to introduce our latest project that embodies the pinnacle of residential development. This endeavour not only reshapes the landscape of quality and craftsmanship, but also demonstrates our unwavering dedication to providing experiences that exceed expectations. We want our customers to benefit from the confluence of innovative design, rigorous attention to detail, and a legacy of unsurpassed excellence through this project.”
Renowned actor Yash adds his star power to the excitement as he joins the grand unveiling of the Prestige Park Grove launch, creating a buzz among fans and real estate enthusiasts alike. His presence promises to elevate the event, bringing together the world of entertainment and luxury real estate.
Prestige Park Drive offers superbly planned homes ranging from one to four bedrooms, making it an ideal choice for individuals and families of all sizes. The project is a 71-acre residential property with a variety of dwelling options for home buyers ranging from efficient 1-bedroom apartment to spending 2 and3-bedroom apartments and up to luxurious 4-bedroom units. Each unit has superior finishes and modern designs that have excellent sunlight and ventilation. The wide windows offer breath-taking views of the metropolitan skyline, while expansive living rooms and private balconies provide an unsurpassed sense of luxury.
There will be 3627 apartments in 19 high-rise towers, and the project will also include a villa enclave with 88 premium independent villas. Prestige Park Grove residents will have access to 2 clubhouses and a cultural centre totalling to over 1,50,000 square feet of state-of-the-art indoor amenities spaces. It will have both regular and lagoon swimming pools, a fully-equipped gymnasium, guest rooms, and a bowling alley. The complex will also provide residents with a plethora of outdoor amenities spread across more than 20 acres of green and open space, assuring a well-rounded living experience.
Prestige Park Grove is poised to become landmark development in the city, thanks to its scale, remarkable design, world-class amenities, and strategic location.
Maserati GranCabrio Folgore Tignanello : First 100% Electric Luxury Covertible
To celebrate the 50th anniversary of Tignanello, one of the most influential red wines that was ahead of its times, Maserati crafted a customised Fuoriserie version of its latest creation, GranCabrio Folgore, the most futuristic expression of the current 100% electric production from the Modena-based brand. The bespoke, which was exclusively created for Marchesi Antinori, will be auctioned, on July 14, in California at Festival Napa Valley’s Arts for All Gala—one of the leading arts charity events in the US.
For the 110th anniversary of the Trident, Maserati comes together with Marchesi Antinori, which boasts a family wine history of over 600 years, handed down for 26 generations, and is an elevated, distinctive symbol of Italy. With its solid identity, innovative intuition and the strong value of the centuries-old tradition that has made the Italian winery one of the best companies in the world, the production of Marchesi Antinori and Tignanello reflect the feeling and passion that have always characterised the spirit of Maserati, a lively protagonist and pioneer in the history of motoring. It has always been driven by the desire to anticipate and become a sign of the times.
The inspiration for this car arises from the vineyard, a metaphor for roots and territory. Both houses’ local areas add much value to their end products: from the cellar, the magical place where wine is made, and from the specific Tignanello label, unchanged for half a century and still highly recognisable, just like the Trident’s most iconic creations.
To craft a car that epitomises the characteristics and values of Marchesi Antinori and Tignanello, Maserati has researched the uniqueness that surrounds the history of this wine and it has paid homage to the Florentine family of winemakers through the colours, shades, innovative materials and refined artisan details that make GranCabrio Folgore Tignanello an ode in motion to the prestigious Tignanello vineyard and to the 50 years of this wine.
The exteriors of GranCabrio Folgore Tignanello translate into a customisation of the body colour, created ad hoc: the Terra di Tignanello paint is a chestnut colour inspired by the vineyard’s soil, warmed by a coppery burgundy reminiscent of the central red shades of Tignanello’s characteristic barriques. It has a rich, metallic tint; a prestigious colour inspired by the estate and the atmosphere of the winery. The rims and callipers come in matte and gloss black respectively, whereas the emblems are coloured copper, with the Maserati logo in glossy copper on a gloss background. The soft top fabric is also black.
But the most romantic details lie in the interiors, ‘revealing’ the hallmarks of Tignanello and celebrating the history of both houses, combining tradition, innovation and craftsmanship. The seats feature leather embellished with a multi-material silver and burgundy ribbed weave, made of Vegea, an innovative spreadable fabric derived from the vineyards. It recalls the pattern of the rows of vines on the Tignanello hill, marked out by the Albarese rocks in their midst. The fabric looks and feels like leather, and it is used for the first time in a Maserati car.
Everything else is real material: dark briar wood with lasering – selected to recall the printing burned into the oak barrels – embellishes the panels, featuring textual details on the creation of Tignanello. On the headrest, elegant embroidery combines the Maserati Trident with one of Tignanello’s hallmarks: the sun, long a distinctive feature on the bottle label. The same symbol is lasered on the central tunnel, together with the dates 1971-2021: these refer to the first and current vintage of Tignanello, 50 years since this wine was released on the market.
Klaus Busse, Maserati Head of Design: “This collaboration with Marchesi Antinori gives us the opportunity to epitomise the essence of Bespoke production, the flagship of our Maserati Fuoriserie customisation programme. It is designed to create ad-hoc experiences for Trident customers, by producing tailor-made cars that can make the driving experience even more sublime and distinctive, the way only an outstanding wine can at the table. Telling a story of Italian excellence is a source of pride for us and serves as constant stimulus for our work, which with Bespoke production aspires to create something absolutely dedicated and inimitable”.
Piero Antinori: “A never-ending challenge, the obsession to improve and constantly question ourselves, to find higher and higher quality margins: these are the cornerstones of the collaboration with Maserati, a brand acknowledged worldwide as a symbol of Made in Italy quality.
A one-of-a-kind model, inspired by Tignanello for its 50th anniversary, a car with a great identity and recognisability, just like our wine. An initiative that makes our family particularly proud: this special GranCabrio Folgore will be auctioned at Festival Napa Valley’s 2024 Arts for All Gala, with the proceeds to be donated to charity”.
Notandas Realty Unveils Two Landmark Luxury Residential Projects in Juhu with ₹450 Crore Investment
Notandas Realty, a leading name in luxury real estate development in Mumbai, has announced the launch of two premium residential projects — Notan Tides and Notan DC — in the heart of Juhu. With a planned investment of ₹450 crores, this strategic expansion underscores the company’s deepening footprint in one of Mumbai’s most exclusive neighbourhoods.
“Notan Tides and Notan DC reflect our continued commitment to timeless design, thoughtful planning, and superior construction,” said Mr. Harsh Jagwani, Managing Director, Notandas Realty. “Our vision is to redefine luxury living in Juhu through bespoke residences that harmonize elegance with efficiency. With a proven track record in the locale, these new developments will raise the bar for residential experiences in Juhu.”
Of the total investment, approximately ₹300 crores will be allocated to Notan Tides and ₹150 crores to Notan DC. The projects will be funded through a mix of equity and internal accruals. Both developments have received the requisite regulatory approvals, with completion and handover expected within 30 months.
Notan Tides: Iconic Living, Redefined
Spread across over half an acre, Notan Tides is a luxury redevelopment project offering expansive residences, curated amenities, and architectural distinction. Notandas Realty has partnered with acclaimed architect Amey Dahanukar (ARA Designs) to deliver a design that seamlessly blends modern luxury with timeless charm.