By Varun Singh

The Indian hospitality sector witnessed strong growth in Q2 (April – June) 2022, primarily driven by demand for weddings and events as well as stellar recovery of corporate travel. The country was amidst the second wave of the pandemic in Q2 2021, which had a significant impact on the performance of the hospitality sector. As a result, Revenue Per Available Room (RevPAR) witnessed an exponential growth of 339.3 % year-on-year (YoY) in Q2, 2022 over Q2 2021 Furthermore, the sector witnessed a stellar 44.6% growth at a pan-India level in RevPAR compared to Q1 2022 wherein the sector was still emerging from the third wave of the pandemic, according to JLL’s Hotel Momentum India (HMI) Q2, 2022.

The demand across the sector soared during Q2 2022 primarily driven by weddings and Meetings, Incentives, Conferences and Exhibitions (MICE), and Business travel. Furthermore, corporate MICE demand also witnessed a recovery in the form of corporate off-sites, team meetings, training, and so on. Domestic leisure continued to be an important segment during this period driven by the pent-up demand of travelers who had not experienced a summer vacation for the past two years.

The next two quarters are expected to remain busy on the back of domestic leisure amidst long weekends and festivals. Business travel will continue to grow and will remain the main demand driver for the sector. Whilst wedding and social function demand will continue to be an important driver. MICE demand is expected to witness an uptick in the coming months with many corporate meetings and large format conferences being planned.

The total number of hotel signings in Q2 2022 stood at 47 hotels with 4,010 keys. The hotel signings witnessed a significant increase of 90.9% as compared to signings in Q2 2021. Domestic operators dominated signings over international operators with a ratio of 52:48 in terms of inventory volume.

All six key markets witnessed exponential growth in RevPAR levels in Q2 2022 as compared to Q2 2021, due to the low base witnessed last year during the second wave of the pandemic coupled with the stellar performance of the sector this year. Bengaluru emerged as the RevPAR growth leader in Q2 2022 registering a growth of 660.1% over Q2 2021, followed by Goa and Hyderabad with y-o-y growth of 564.5% and 326% respectively.

“With exponential growth across all performance indicators in business and leisure destinations, Q2 2022 marks the revival of investor interest and stakeholder profitability in the hotel industry. As business travel and corporate off-sites continued to grow, summer holidays offered a further impetus to the overall demand resulting in a renewed confidence in the sector. We expect this momentum to continue over the next few quarters on the back of long weekends, festivals, weddings, events, and business travel evenly contributing to this growth story” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.

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3-Wheeler cargo vehicles powered by Log9’s InstaCharge battery technology will boost the fleet operations of Pi Beam while also reducing carbon emissions for last-mile delivery

Bengaluru-based advanced battery technology start-up Log9 Materials has partnered with Chennai-based startup Pi Beam to empower the last-mile delivery operations of the latter using Log9’s flagship InstaCharge battery technology. The partnership was finalized recently with an MOU signed between the two companies; both Log9 and Pi Beam believe that their partnership will go a long way in reducing the carbon footprint of the logistics sector and is a step forward in fighting climate change.

As a part of this collaboration, Log9 Materials will deliver a large number of Rage+ RapidEV electric 3-Wheeler fleets powered by Log9’s RapidX batteries that InstaCharge (get fully charged from 0 to 100 per cent) within 35 minutes. Notably, the Rage+ RapidEV has been developed jointly by Omega Seiki Mobility and Log9 Materials, keeping in mind the unique requirements of Indian consumers and is powered by Log9’s RapidX 6000 battery.

Log9’s InstaCharge battery technology will empower Pi Beam’s fleets to have more uptime, efficiency, and better return on investment vis-à-vis their last-mile delivery operations. Furthermore, data-driven analytics from these RapidEV fleets will enable them to optimize their route planning for hyper-local last-mile deliveries. The partnership also brings Pi Beam under the aegis of Log9’s responsible Delivery Movement initiative, a first-of-its-kind initiative in India to fight against climate change by working proactively to reduce last-mile delivery emissions. The objective of Responsible Delivery Movement is to accelerate India’s e-mobility adoption and bring down India’s transportation and logistics emissions intensity by up to 33% by 2030.

Speaking on the partnership, Dr. Akshay Singhal, Founder & CEO, Log9 Materials said, “We are happy to partner with Pi Beam to empower their delivery operations with the Rage+ RapidEVs electric 3-wheelers powered by Log9’s battery packs and InstaCharge technology. We are confident that this partnership will go a long way to give an impetus to the transformation of India’s conventional last-mile logistics operations to sustainable electric mobility. This is also in line with Log9’s initiative of Responsible Delivery Movement, and moreover, this partnership strengthens our movement and re-affirms our joint commitment to fight against climate change by reducing last-mile delivery emissions.”

Pi Beam offers end-to-end micro-mobility sustainable EV solutions along with data-driven analytics, particularly to augment productivity in last-mile logistics and transportation space. Their smart, green, and affordable EVs fleets are revolutionizing transport and customer deliveries in e-commerce, retail, and small and medium businesses.  On the other hand, Log9 has leveraged its cell-to-pack competency to develop its InstaCharge batteries that provide 9x faster charging, 9x better performance, and 9x battery life. Log9’s InstaCharge technology brings down the total charging time which further optimizes the utilization of charging infrastructure and operational profitability for fleets. In addition, Log9’s RapidX batteries are built to operate across -30° to 60° C and come with an operational life of 15,000+ cycles, thereby providing a seamless experience and entirely revolutionizing the last mile logistics sector.

About Log9 Materials

Log9 is an indigenous deep-tech and advanced battery-tech startup that is redefining the EV industry’s standards in the fight against climate change, by offering batteries that can be charged 9x faster, can last 9x longer and offer 9x higher performance and safety. It is the only Indian company today that holds in-house competencies ranging from electrode materials to cell fabrication to battery packs. Log9’s sole purpose and mission are to pioneer Responsible Energy, and through its initiative, the Responsible Delivery Movement, Log9 is leading an industrywide consortium of OEMs, Aggregators, End Users, and other stakeholders to raise awareness about the threats of climate change and is mobilizing the first and last-mile delivery ecosystems to combat it. Furthermore, with an eye on the changing transportation and logistics industries, Log9 is investing heavily in the research and development of Aluminum Fuel Cells that will power long-haul commercial vehicles of the future. Log9 is funded by leading VCs like Sequoia and Exfinity Ventures and strategic investors such as Amara Raja Batteries and Petronas (Malaysia).

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By Varun Singh

Network for People of Construction, CLUBNPC, the non-profit organisation of Construction, Real estate and infrastructure industry organised its first annual conference, AAGAAZ 2022 in Pune. The Conference highlighted the issues of the industry and articulated the views and concerns of industry.

CLUBNPC is an initiative to bring all the key stakeholders of the construction industry on a single platform ranging from architects, interior designers, engineers, builders, and contractors. ‘CLUBNPC‘ is the focal point and platform for the Construction industry professionals to network, communicate and support each other on the issues that impact the businesses. It has grown in strength and credibility as a reliable entity with over 3500+ professionals across the country and are growing strength to strength. It has strong presence in all the four zones of the country.

CLUBNPC has also emerged as a huge knowledge sharing platform and organised more than 100 workshops for professionals to build new relationships and establish connections with like-minded professionals.

Speaking on the occasion, Yogesh Jagatramka, President CLUBNPC said, “It is a moment of great pride for us to organise our first event. We would like to make CLUBNPC to be voice of India’s construction industry. From influencing policy to encouraging debate, engaging with policy makers, CLUBNPC would articulate the views and concerns of industry. Its key purpose is to build a strong relationship with members of construction fraternity.”

Renowned Architect Mr. Ravi Gadre was the Chief Guest during the occasion. In his address, he highlighted that architect should build according to the need of the customers. 

The event was attended by construction industry luminaries including Ar. Pradeep Giri, Er. Sameer Deodhar, Er. Rohan Karkare, Ar. Omkar Samudra, Dr. Yogesh Kumar, ID Rajni Shinde, NPC Club President – ID Yogesh Jagatramka, Vice President – Ar. Karan Arora, Secretary – ID Amit Shah, Ar. Rohit Jain Mohammad Parvez, Ashish Bughra, ID Ritu Marwah, Mayur Mangal and others were present on the occasion.

The experts from across the country including builders, architects, interior designers, PMC engineers, contractors, suppliers and manufacturers attended the event.

The winners of the design competition held across the cities were also awarded at the occasion. The event witnesses the signing of no of MoUs (Memorandum of understanding) along with panel discussions, experts’ sessions, cultural events and followed by the oath to make CLUBNPC as the industry’s voice and build it as a strong fraternity.

Also Read: 5 Tips to keep in Mind before Investing in a Luxury Property

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By Varun Singh

Residential real estate has been on a steady and resilient growth trajectory, especially in the last quarter. Despite the shadow of uncertainty cast by the third wave, the segment continued to witness a surge in demand and sales. This is evidenced in a recent report which indicates a 71% rise in quarterly housing sales compared to last year. We are optimistic that the rising aspiration for homeownership and favorable market forces will help sustain the sector’s growth momentum. This, in turn, will positively impact the country’s economic development. The same is reflecting in our quarterly sales performance.

We would like you to take note of our key operational updates for Q4FY22:

A.  Key Sales highlights

• Sales FY22Total sales volume of 3.52 msft with a total sales value of INR 2406 Crore; clocking highest ever sales value for the company since inception.Sales volume from under-construction inventory up by 51% in comparison to FY21

• Sales Volume Q4FY22 – Area sold stood at 1.19 msft, up by 20%, compared to 0.99 msft in Q4FY21

• Sales Value Q4FY22 – Sales value stood at INR 829 Crore, up by 10%, compared to INR 753 in Q4FY21

• New Launches – Of the 6 projects launched during the year, 4 projects were launched in Q4; Tree Haven, Provident Winworth, Purva Southbay and Sparkling Springs

~~First plotted project by the Group in Chennai market (Purva Southbay) was sold out in 48 hours from launch

B. Debt and cash flows – Cash flow remained healthy during the quarter resulting in net debt reduction.

C.     Performance Summary:

Other matters: AIF – The Company’s wholly owned subsidiary received approval from the SEBI for an INR 750 crore, category II fund, under the Alternative Investment Fund (AIF) guidelines, 2012.

Also Read: Lodha launches its Lifesciences Hub at Palava with Encube Ethicals as their first client

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South India’ based Real Estate Developer, Alliance Group & Urbanrise, today announced that the company has appointed Mr. Rajendra Joshi to its Board of Directors as a Whole Time Director, with effect from 6^th April, 2022.

A veteran with 30 years of experience, Rajendra Joshi has led many leading brands in the country and has been instrumental in launching many brands and firms with respect to financial services and real estate industry in the South Indian metros. Mr. Rajendra Joshi comes with an educational background of Masters in Physics from University of Jodhpur and MBA from University of Ajmer. Having joined the Alliance Group in the year 2016, as the Executive Director of Sales and Marketing, Rajendra Joshi, with his high level of administrative and Sales & Marketing acumen has guided the company in launching over 25 million sq.ft of residential community and developing over 22,000 homes. 

Commenting on the appointment, Manoj Namburu, Chairman and Managing Director of Alliance Group said, “We are pleased to welcome Mr. Rajendra Joshi to the board as the whole-time Director. Mr. Rajendra Joshi’s experience and leadership has contributed to the company’s significant growth over the years. Rajendra’s long history in leadership, his administrative capability and his valuable contribution to the company makes him an ideal person for this role. I am confident that Rajendra will bring more depth and diversity to our Board”.

 About Alliance Group and Urbanrise

Alliance Group is South India’s Largest Real Estate Developer who has delivered over 7,500+ homes. The organization has 54 million Sq.Ft. under development and another 25 million Sq.Ft. of projects is in planning stage, with a real estate portfolio of Rs.33,000 Crores. The Organization is backed & funded by the world’s Topmost Financial Institutions.

Also Read: Alliance Group and Urbanrise Clocks Rs.2,290 Cr Sales Revenue in FY 2021-22

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By Varun Singh

Institutional investments in Indian real estate touched USD1.1 billion during Q1 2022, doubling from the same period last year. The opening up of the economy post the third wave of Covid -19 infections, and an improvement in investors’ sentiment has led to surging investments, compared to the prior quarter. The investment activity during the quarter was driven by some large-sized deals in the office sector.

Investments were largely driven by foreign investors, that accounted for about 70% of the inflows during the quarter. Interestingly, after a drop in 2020, the share of domestic investments has reached 30%, almost the same as pre-pandemic levels. This shows a resurgence in the confidence of domestic investors.

Piyush Gupta, Managing Director, Capital Markets & Investment Services, Colliers India, said, “Real estate sector has undergone positive structural changes and performance indicators reflect strong come back across Residential, Office, Industrial, Logistics sectors, with newer themes around technology and digital clearly emerging. Investors, both domestic and global are appearing bullish on Indian real estate supported by pro-growth government policies with a long-term view to develop and hold assets. From a city level, Mumbai continues to be the market leader with a share of 25% in total investment inflows. This shows immense confidence of investors in the sector”.

The office market has made a comeback in terms of investments, with occupiers continuing to see it as a stable income-accruing asset class. Moreover, the office market is now recovering with Q1 2022 seeing stable vacancies for the first time in two years. The retail sector attracted the second-highest share of investments at 23%, backed by one major transaction. Investment in the retail sector was the highest since the start of the pandemic. Global investors continue to show strong interest in under construction as well as stabilized retail assets, as they are expecting a revival.

Industrial and logistics assets received inflows of 0.2 USD billion, accounting for about 16% of total investments. Investor appetite for industrial and logistics assets remained robust backed by strong structural demand from e-commerce and 3PL firms. Investors continued to scout for land parcels for in-city warehouses and in the peripheral locations of larger markets. Heightened investment activity is seen on the back of strong demand for modern industrial and logistics assets coupled with a shortage in supply.

“Multi-city deals accounted for 65% of the total investments in Q1 2022 as investors laid focus on entering into strategic alliances with leading developers and on acquiring/developing portfolios across multiple cities. We are also seeing the creation of platforms for investment in specific asset classes, especially across the commercial office and industrial asset classes”, says Vimal Nadar, Senior Director and Head of Research, Colliers India.

Residential likely to see increased fund flows as fundraising remains strong

Investments in the residential sector remained muted attracting only USD15 million in Q1 2022, just about 1% of the total investments. However, we expect investment momentum to increase over the next few quarters as domestics investors remain bullish on the sector and are actively raising funds. The residential sector is witnessing tailwinds amid a significant rebound in sales momentum after a turbulent spell since the NBFC crisis in 2018, followed by the pandemic. In Q1 2022, a major investment group marked the close of an affordable housing fund, one of the largest funds targeted towards residential real estate in India.

Global REITs and data centre management firms continue to expand their portfolios in India

Investments in data centres continued to grow in Q1 2022 to about USD40 million, as global data centre REITs, data centre management firms and hyperscalers continued to invest in India. Chennai is witnessing significant traction in data center development and has the potential to emerge as a  key data centre hub in South Asia due to its strategic location as submarine cables landing station. Investment opportunities in data centres are surging, given the huge growth in demand for cloud computing from enterprises, deeper internet penetration, and infrastructure status granted to data centres.

Also Read: Kajol Vishal Devgan buys 2 flat in Juhu for Rs 11.95 Crore

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By Varun Singh

Very rarely a developer leaves a realty project that he began.

However, a total of 132 projects have seen builders changing.

There are two types under which in MahaRERA, a realty projects can witness a developer or a builder change.

The first is where the homebuyers or allottees give their consent and the second is where via court orders the builders have been changed in a certain realty projects.

Projects that have seen a change in promoter via two third consent of homebuyers or allottees stands at 74.

These 74 realty projects are from 2017 till 2021 and includes big names too.

There are 58 projects which have seen a change in promoters due to other reasons, these includes Proprietorship change by succession to legal heirs, and As per the statutory orders / operation of law.

You can see the entire list here

Since MahaRERA, came into existence in 2017, the real estate industry which earlier use to be not so transparent suddenly had to open up.

There was a time when anyone could become a builder and many did become and started realty projects.

This caused a lot of strain on the homebuyers who would not be able to get their homes on time, as there was no body fo check whether the builder was fulfilling all his duties and was in a condition to construct a milti crore building or not.

Since, RERA act, the builder had to create an escrow account where the details have to be provided to MahaRERA.

The transparency has led many builders who had jumped into the realty sector with expertise abandon projects.

In Maharashtra there are a total of 132 realty projects which has see a promoter change.

Also Read: No Stamp Duty Discount Yet Oct Realty Sales Breaking Records

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