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<keyword id="20528925" type="General" weightage="20" keywordseo="Amish-Tripathi" source="keywords">Amish Tripathi</keyword>, the celebrated author behind the best-selling <keyword id="22444346" type="General" weightage="20" keywordseo="Shiva-trilogy" source="keywords">Shiva Trilogy</keyword> and Ram Chandra series, has made headlines once again for his recent acquisition in Mumbai’s elite <keyword id="22444347" type="General" weightage="20" keywordseo="Upper-Worli-district" source="keywords">Upper Worli district</keyword>. The author, known for his retelling of Indian myths, has invested a staggering Rs 13.65 crore in a luxurious apartment located within the prestigious <keyword id="22444348" type="General" weightage="20" keywordseo="World-One-project" source="keywords">World One project</keyword> by the <keyword id="20178245" type="General" weightage="20" keywordseo="Lodha-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Lodha Group" meta.hostid="261" meta.entityid="Lodha Group">Lodha Group</keyword>. Situated in one of Mumbai's most coveted locales, Tripathi's new abode spans approximately 251 square metres of sheer opulence. Boasting interiors designed by the renowned <keyword id="22444349" type="General" weightage="20" keywordseo="Armani/Casa" source="keywords">Armani/Casa</keyword>, the residence offers a blend of sophistication and comfort. Further, Lodha’s World One project, renowned for its exclusivity and panoramic views of the Arabian Sea, boasts some of the tallest residential buildings in India. <div type="Article" hostid="261" msid="111582880" title="How did Delhi-NCR and Mumbai housing prices surge by nearly 50% in five years?" mstype="2" mssubtype="0"></div>Nestled in the heart of <keyword id="20161525" type="General" weightage="20" keywordseo="South-Mumbai" source="keywords">South Mumbai</keyword>, Worli boasts a vibrant mix of cultural attractions and recreational avenues. Some notable destinations include the picturesque <keyword id="22444350" type="General" weightage="20" keywordseo="Worli-Sea-Face" source="keywords">Worli Sea Face</keyword>, a favourite among joggers and evening strollers, to the iconic Bandra-Worli Sea Link, which connects the island city to its northern suburbs. Moreover, the area's upscale dining establishments, boutique shops, and cultural venues ensure that residents are never far from the pulse of Mumbai's dynamic lifestyle. Worli in South Mumbai has long also been a magnet for celebrities and prominent personalities seeking luxury and convenience. Known for its stunning sea views and proximity to Mumbai's business districts, Worli counts several Bollywood stars, industrialists, and sports icons among its residents. Notable personalities that reside here include Shahid Kapoor, Rohit Sharma, Yuvraj Singh, <keyword id="6354486" type="General" weightage="20" keywordseo="virat-kohli" source="Orion">Virat Kohli</keyword>, Anushka Sharma, Riteish Deshmukh and Genelia D'Souza. <div type="Article" hostid="261" msid="111663953" title="Is the cost of rent finally going down in Bengaluru&amp;#39;s IT corridors like Koramangala and Whitefield?" mstype="2" mssubtype="0"></div>Even with 7 million books sold worldwide, Tripathi continues to expand his creative horizons. In collaboration with Immortal Studios, Wakaoo Films, and Casa Media, the author has ventured into film production, aiming to bring his novel Legend of Suheldev: The King Who Saved India to life on screen. His latest documentary, Ram Janmabhoomi: Return of a Splendid Sun, delves into the historical and cultural facets of Ram Janmabhoomi and the life of Lord Ram.

Shiva trilogy author Amish Tripathi buys Mumbai apartment worth Rs 13.65 crores in one of India’s tallest towers

New Delhi, Salary hike in senior level job roles is expected to reach an average of 20 per cent this year, as nurturing talent and fostering innovation remains a key focus area for companies amid the country's buoyant economic conditions, says a report. According to the <keyword id="21039371" type="General" weightage="20" keywordseo="michael-page" source="keywords">Michael Page</keyword> <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Salary Guide 2024, there is a resurgence in hiring within traditional industries, particularly evident in the continued high demand for manufacturing and operations roles. Additionally, there's a notable surge in the need for professionals skilled in data analytics, generative AI, and machine learning across various sectors. The annual guidance report covers the key sectors of BFSI, engineering &amp; manufacturing, finance &amp; accounting, healthcare &amp; lifesciences, human resources, legal, compliance, procurement &amp; supply chain, property &amp; construction, sales &amp; marketing, and technology. According to the report, India's 6 per cent GDP growth coupled with significant domestic investments and independence from external factors, positions India uniquely in the region, even amidst global challenges. "With India's economy displaying such resilience and optimism, and surpassing its pre-COVID performance, the focus is now on harnessing this potential. Nurturing talent and fostering innovation thus remains a key," said <keyword id="21190739" type="General" weightage="20" keywordseo="ankit-agarwala" source="keywords">Ankit Agarwala</keyword>, Managing Director at PageGroup. <keyword id="21190740" type="General" weightage="20" keywordseo="agarwala" source="keywords">Agarwala</keyword> further noted that the IT services industry, a cornerstone of the Indian economy, is witnessing a phase of recalibration. Companies are moderating their approach to salary increments, with expected hikes around 8 per cent-10 per cent. "Industries like consumer, renewables, finance, and healthcare are flourishing, bolstered by investments from local and domestic companies," Agarwala said. Sector-wise analysis showed that in IT &amp; Technology, the hike range varies from 35-45 per cent for junior employees, 30-40 per cent hike for mid-level executives, and 20-30 per cent increment for senior management. The property and construction sector is offering 20-40 per cent hike to juniors, 25-45 per cent hike to middle-level executives and a 20-40 per cent salary appraisal to seniors. "As we delve deeper into 2024, the employment narrative in India is about more than just salaries. Flexibility, work culture, and professional growth opportunities are increasingly pivotal in job transitions, reflecting a maturing and holistic employment ecosystem," said <keyword id="21190738" type="General" weightage="20" keywordseo="anshul-lodha" source="keywords">Anshul Lodha</keyword>, Managing Director at Page Group. Michael Page is a leading global recruitment firm specialising in permanent, contract, and temporary recruitment. Michael Page operates in 37 countries worldwide and has a strong presence in India.

Senior job roles to see avg 20% hike on buoyant sentiment: Michael Page

New Delhi, Jan 8 () Realty major <keyword id="46877" type="COMPANY" weightage="20" keywordseo="Lodha-group">Lodha Group</keyword> has said its sales bookings rose by 30 per cent to nearly Rs 2,000 crore in the third quarter of this fiscal. The group is also planning to raise up to Rs 1,500 crore this calendar year by monetising commercial assets in Mumbai region. "We had a strong performance in sales during the third quarter. Our sales bookings have increased by 30 per cent to nearly Rs 2,000 crore," Lodha Group MD <keyword id="167433" type="PERSON" weightage="20" keywordseo="Abhishek-Lodha">Abhishek Lodha</keyword> told . In the first nine months of 2019-20, sales have reached around Rs 5,000 crore, up 15 per cent from the corresponding period of the previous year.
 Out of total sales bookings, Lodha said around 60 per cent is from affordable housing projects having a carpet area of 60 sq metre and below. 
 "For the full fiscal, sales bookings should be around Rs 7,000 crore," Lodha said. 
 Recently, Lodha group announced an investment of Rs 2,500 crore to develop three affordable housing projects in the Mumbai Metropolitan Region (MMR) in a price range of Rs 25-50 lakh per unit. These three projects, comprising nearly 9,000 units, are located at Thane, Bhiwandi and Taloja and launched under a separate brand, ''Crown''.
 On debt, he said the total borrowing for India business has come down to Rs 16,000 crore. Another Rs 2,000 crore pertains to London business. 
 "We have recently completed divestment of commercial asset worth Rs 1,400 crore. In this calendar year, we plan to raise Rs 1,300-1,500 crore by selling office and retail spaces comprising over one million sq ft," Lodha said. 
 Regarding the London business, Lodha said the company has already completed one project and the second one would be handed over by March-April this year. 
 The company has sold about half of its inventories in these two projects and is targeting to sell all units in the next 12-18 months, he added.
 "We are expecting a surplus of Rs 5,000 crore from London projects in the next 12-18 months," Lodha said.
 Lodha group had made a foray into the London market in 2013 with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in prime Central London for over 300 million pounds (Rs 3,100 crore). The group acquired another site in prime Central London, New Court at 48 Carey Street for 90 million pounds in 2014.
 The first project Lincoln Square was launched in 2016 while the second project 'No.1 Grosvenor Square' started in 2017.
 Lodha Group is India''s largest residential real estate developer by sales. The company clocked net new sales of over Rs 7,000 crore in 2018-19 with collections of over Rs 9,000 crore. MJH MKJ

Lodha Q3 sales booking up 30% at Rs 2K cr; to raise up to Rs 1,500 cr by selling commercial assets

<ul><li>While demand had come to a standstill during the first few months of the lockdown, things are slowly starting to look up for the <keyword id="35288" type="PERSON" weightage="20" keywordseo="real-estate-market">real estate market</keyword>. </li><li><keyword id="9815836" type="PERSON" weightage="20" keywordseo="raunika-malhotra">Raunika Malhotra</keyword>, President Corporate Brand and Communication, <keyword id="46877" type="COMPANY" weightage="20" keywordseo="Lodha-group">Lodha Group</keyword> tells us that the pandemic has made everyone realize the importance of owning a home and the security that it provides to one self and family.</li><li>Moreover, the changed behavior towards tenants vis-a-vis home owners by residents in various housing societies has accelerated the sense of owning home amongst millennials, Malhotra shares.</li></ul> Like almost every other sector, real estate has been massively impacted by the Covid-19 induced lockdown this year. There had been a complete halt of construction which had brought sales to a complete standstill. However, with the lockdown gradually being lifted across the country, things might soon start to look up. Also, the last few months have led to a lot of changes in consumer behavior. While many had initially thought people will become more frugal when it comes to big purchases during these times, people in the real estate segment are seeing demand coming back. Moreover, with people spending more time at home now, there has been an increase in the desire to own a house. Also, the changed behavior towards tenants vis-a-vis home owners by residents in various housing societies accelerated the sense of owning home amongst millennials. We recently caught up with Raunika Malhotra, President Corporate Brand and Communication, Lodha Group who told us that the younger population is eager to own houses and that according to a survey by the real estate player, close to 59% of home-seekers planning to buy a home in the next year are millennials. She further deep-dives into emerging trends from the real estate segment and tells us what the industry in the near future will look like. Excerpts: Q) How have the last few months been for Lodha? As things are gradually opening up, what kind of enquiries are you receiving? The pandemic has made everyone realize the importance of owning a home and the security that it provides to one self and family. The RBI announcements on the moratorium and the lowest-ever interest rate for home loans have been a much-aided benefit. There has been an increasing ask for ready-to-move-in properties across affordable and mid-price segments. People now look forward to live in quality developments with integrated facilities providing more open spaces. We have observed an increased desirability for decks and well-managed safety and security services in most segments of home buyers. Q) Have you been able to sell any units in the past few weeks? In terms of sales, how do you expect the rest of the year to pan out? Do you think people will invest on houses or be more thrifty and push it to when things become better? As the largest real estate player in India over 7 years, Lodha has continuously been in touch with its customers and aimed at meeting customer requirements. A recent industry report on ‘Consumer Sentiment Survey’ states that 54% of survey participants consider this an ideal time to make a property purchase. We further realized that we should cater to the consumers' concerns and, hence designed the ‘ApnaGhar, ApnaDesh’ campaign strategizing on a consumer-centric approach. Further fulfilling the dream of potential home seekers, the initiative was designed wherein home seekers only need to do the upfront payment of Rs 1.98 lakh and get a lowest-ever interest of 5.99% and contribute to nation building. Under the purview of the campaign, Lodha sold 1800 units from March 19, 2020, till June end. Q) How different will things be for you as a player now, considering buying of a house has a very physical element to it, when people want to visit the houses? How are you going to do things differently now? Home-buyers have always preferred homes by reputed developers who can provide quality development, assure timely delivery, and understand consumer requirements even during the changing times. Over a period of 7 years, Lodha has clocked Rs 50,000 crore sales across an area of 57.0 million Sq. ft. Along with providing a good quality home, our brand is focused on giving home-buyers an all-round ecosystem with essential amenities in order to build a better life, making us one of the world’s finest developers. The consumers’ need for residing in better quality living developments remain strong despite the pandemic. However, with the changing times and the new normal, they are now more open to engaging digitally and are adapting to new digital tools/mediums. As a leading real estate developer, it is important to provide our customers the same hassle-free experience irrespective of the alterations. We have observed a growing desire towards home-ownership, and with Lodha understanding and catering to the changing needs, the company has developed an extra edge towards meeting consumer demands. Q) In the post-Covid world, do you expect AR/VR/virtual tours to become an even more important tool in the entire consumer journey when it comes to real estate? Are you already investing in the technology? With the changing norms, digital interface will increase but all mediums are here to co-exist. In a home-buying experience, the touch &amp; feel aspect is important and there will be site visits, but engagement will happen digitally. Q) You recently came out with a campaign featuring <keyword id="2823" type="PERSON" weightage="20" keywordseo="Akshay-Kumar">Akshay Kumar</keyword>. What was the thought behind it and what kind of reception has it received? The ideation behind the ‘ApnaGharApnaDesh’ campaign entails two components: ‘ApnaGhar’ – which highlights the importance of owning a home and ‘ApnaDesh’ – which highlights the contribution of real estate sector in re-building the nation. The ad campaign’s objective was to invigorate the sentiment of home-ownership as the pandemic has very well instilled the realization among individuals regarding home being a safe haven. Another primary driver to launch the campaign was the findings of the market research conducted during the lockdown that showed increased desirability of owning a home amongst individuals. Having a good quality home in a well-maintained development with good amenities and infrastructure has become increasingly important as people are spending more time at home due to the lockdown and the prevalent work from home (WFH) scenario. Banking on well execution of the idea, the campaign has been very successful considering that over 1000 homes were sold during the lockdown. Under the campaign banner, Lodha organically reached out to 10 million people and engaged with 1.5 million people through social media organically. The campaign also aimed at contributing to nation building, which was critical during the pandemic – an interesting stat being 25% of every home buying spend goes to the government. Besides, the real estate industry contributes about 5% to the country’s GDP, clearly indicating that reviving the sector means the revival of the national economy. Buying a home provides jobs and thereby income to 10 workers for a year - thus, the campaign’s main objective was to convey that when one purchases a Lodha home, it ensures security and well-being for himself/herself and instills a sense of pride for being able to contribute towards rebuilding the nation. Q) How is your marketing strategy going to be different in the post-Covid world? Will there be an increase in your marketing spends for the rest of the year? Being a consumer-centric brand, it is extremely essential to understand the preferences of consumers and stay in tandem with shifting behavioral patterns. With an in-depth understanding of the consumer demand shift, the brand will continue to provide innovative solutions, where home-buyers will find the confidence to transact considering our delivery and quality. Further upgrading the home-buying experience, we will ensure safety and security by providing new digital tools to build a robust digital consumer journey with a higher focus on maximizing ROI. Q) Have you witnessed any interesting consumer behaviour trends during the lockdown and post? Lodha did a ‘Homebuyers Preferences Survey’ with active home seekers in the Mumbai MMR region that highlighted some major changing consumer trends. A remarkable trend observed is 63% of active home seekers in the Mumbai MMR region prefer buying ready-to-move-in homes. 80% of the survey respondents who preferred ready homes agreed that they get to see what they buy. Also, 59% of the home-seekers who plan to buy a home in the next year are millennials, clearly indicating the re-modeled millennial mindset. Another striking observation from a twitter poll conducted by uswas the increased desirability among individuals for more open spaces within and outside their living area. 91.9% of participants have showed preference towards decks/balconies in their houses whereas 82% have showed an affinity towards outdoor spaces like gardens and sports complexes. The poll results also highlighted the growing need for staying in self-sustaining developments and also inclusion of a staff quarter in the homes. Lodha has always aimed at staying ahead of the curve and has been a forerunner in incorporating all the requirements across its projects. Q) What have your learnings from the lockdown experience been? With the new work-from-home culture and the Covid-19 induced lockdown, people have started staying indoors and spending more time with family. The essence of having a safe place to stay inside during crisis situations has raised the desire for owning a home. The changed behavior towards tenants vis-a-vis home owners by residents in various housing societies accelerated the sense of owning home amongst millennials, who recently started viewing real estate as a means of asset creation. Insights from Lodha’s recent ‘Homebuyer Preference S<a name="_GoBack"></a>urvey’ also indicate that 59% of the home-seekers who plan to buy a home within the next year are millennials. Understanding what the consumers are looking for and then rationally implementing the insights in the product offering has become even more critical during these unprecedented times. Buying a home is one of the most important decisions or maybe a lifetime decision for consumers, and compassionately understanding their preferences well and then making that dream home come true along with apropos value additions is what the company thrives at and is a continued mantra for all of us at Lodha.

Our survey shows that 59% of home-seekers planning to buy a home within next year are millennials: Raunika Malhotra, Lodha Group

Mumbai, Mar 26 () City-based realty player Lodha Group on Thursday said it has decided to allow rent waiver for its retail partners after the government announced the 21-day lockdown in wake of the COVID-19 pandemic. "Retail partners, who are renting spaces in Lodha's retail properties are exempted from paying rent since March 15, until the government permits reopening of retail operations. Maintenance charges will be reduced as per actual expenses during this period," the company said in a statement. The company has over 200 retailers in its stores across various locations including Palava City, Thane, Pune and south Mumbai area. The group is also expecting clarity with respect to interest deferment or waiver to ease developers' burden arising from this lock down. "The retailers, especially small and medium-sized enterprises (SMEs), need to focus on paying their employees and taking care of their families. "At this point, rent is a huge source of stress for them and we at Lodha feel that we need to take a lead in reducing the stress from the system, which gets transmitted and amplified the longer it is left unattended," a company spokesperson said. PSK ANSANS

Lodha Group allows rent waiver to retail partners amid lockdown

New Delhi, Mar 12 () Realty firm Lodha Group's UK subsidiary has cleared its USD 325 million debt which was raised through issuance of bonds in 2015.Lodha Developers International, a subsidiary of Mumbai-based Macrotech Developers (earlier Lodha Developers), has paid USD 345 million (Rs 2,550 crore), including USD 20 million as interest, to clear its debt.Lodha International has completed all requirements and payments for the redemption of its March 2020 US dollar bonds in full along with accrued interest, a company statement said.To repay its bond, the company has recently raised USD 225 million (Rs 1,650 crore) in senior secured notes with maturity in 2023. In February, it had raised 86 million pounds (Rs 800 crore).The bond-issue opened on February 27. The bonds will be listed on the Singapore exchange.Abhishek Lodha, MD &amp; CEO, Macrotech Developers, said: "We were always confident of being able to meet our USD 325 million bond repayment obligations and have completed all requirements and payments for the bond to be repaid in full along with accrued interest.""Despite the economic slowdown in India which has been further compounded by factors like coronavirus and the oil price shock, we are pleased that we have successfully completed this obligation," he added.Lodha Group had made a foray into the London market in 2013 with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in prime Central London for over GBP 300 million (Rs 3,100 crore).Macrotech Developers is India's largest residential real estate developer by sales and construction area. It clocked net new sales of over Rs 7,000 crore in 2018-19 with collections of over Rs 9,000 crore and delivered over 10,000 offices and homes in FY 18-19.In the first nine months of 2019-20, sales have reached around Rs 5,000 crore, up 15 per cent from the corresponding period of the previous year. The debt of India business is around Rs 15,000 crore. MJH MJH ANUANU

Lodha Group's UK arm clears USD 325 million debt

Shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to <keyword id="6359483" type="General" weightage="80" keywordseo="crisil" source="Orion">CRISIL</keyword>. "Buoyant retail sales and improved rental yields are expected to lift the revenue of mall operators by 7-9 per cent this fiscal. That would be tantamount to around 125 per cent of pre-pandemic, or fiscal 2020, revenue," it said in a statement. The rating agency said that the growth in revenue will be on a high base of FY23. During the last fiscal, CRISIL noted that "return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level". "Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal," the agency said. CRISIL Ratings has analysed 28 malls, which have leasable space of around 18 million square feet area spread across 17 cities, with a total debt of over Rs 8,000 crore. Typically, mall operators generate around 85 per cent of their income from minimum guaranteed rentals as per lease agreements, while the rest is linked to the revenue performance of the tenants. DLF, Brigade Enterprises, Macrotech Developers (Lodha Group), Nexus Select Trust, <keyword id="144998" type="General" weightage="50" keywordseo="phoenix-mills" source="Orion">Phoenix Mills</keyword>, Lulu Group, Pacific India, <keyword id="6436174" type="General" weightage="50" keywordseo="unity-group" source="Orion">Unity Group</keyword> and Ambience Group are operating Grade A shopping malls across major cities. "The exceptional revenue growth last fiscal was on a significantly weak base. In fiscals 2021 and 2022, revenue stood at 55 per cent and 74 per cent of the pre-pandemic level, respectively, as mall operators had waived off rent and allowed flexible payment terms to tenants in a bid to prevent any major decline in occupancy," the statement said. As the impact of Covid-19 waned and occupancy increased, the average per square feet leasing rate jumped 12-14 per cent in fiscal 2023, it added. "Considering the healthy performance of the sector, capex is expected to pick up over the near to medium term. While a sizeable part of it may be funded by equity from global investors, a large debt contracted for new developments will bear watching," the agency said. On the flip side, CRISIL said that the impact of the slowdown in advanced economies, and the manifestation of the lagged effect of repo rate hikes of the past can curtail discretionary spending, including retail sales. "This aspect will, therefore, be monitorable." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-fronx-vs-brezza-comparison-which-car-should-you-buy-under-10-lakh/slidelist/99729841.cms">Maruti Suzuki Fronx vs Brezza – which car should you buy under ₹10 lakh?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/playstation-5-special-summer-offer-discount-for-all-the-ps5-variants/articleshow/99729513.cms">This could be your last chance to grab a PlayStation 5 at a ₹5000 discount in India</a>

Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

<ul><li>Gaana has a new CEO, COO and CTO now. </li><li>Gaana has now set its sight firm on tapping the country’s unprecedented potential in the OTT sector.</li></ul>Gaana has strengthened its management by appointing Sandeep Lodha as its new CEO and roped in former <keyword id="51757" type="COMPANY" weightage="20" keywordseo="TIMES-INTERNET">Times Internet</keyword> executives <keyword id="1645388" type="PERSON" weightage="20" keywordseo="Vivek-Pandey">Vivek Pandey</keyword> as COO, and Ram Awasthi as CTO. By strengthening the leadership, Gaana has now set its sight firm on tapping the country’s unprecedented potential in the OTT sector. All three leaders bring with them almost 60 years of rich experience that is poised to provide Gaana with the growth impetus. Speaking on the announcement, Gautam Sinha CEO Times Internet said, “The Indian OTT ecosystem is about as exciting, dynamic, and competitive as it has ever been. We have seen an amazing batch of OTT brands develop and flourish over the last few years, and we have seen unprecedented interest from global companies keen to tap into the Indian consumer opportunity. At Gaana, we are equally excited about our next stage of tech-led relationships with users, content producers and advertisers with Gaana. Our new CEO Sandeep’s experience leading hyper-growth brands like Disney &amp; OYO, Vivek's 360-degree product, growth and monetisation experience, and Ram’s strong &amp; visionary leadership in technology make us believe we can achieve the audacious goals we have set for the brand in the coming years.” A proven leader within the media &amp; entertainment industry, Sandeep has 22 years of rich experience in scaling brands in hyper-growth sectors with Disney, Bain &amp; Company, Weddingz.in &amp; Intel Capital. Sandeep founded Weddingz.in and created India’s largest wedding co which he then sold to OYO. The brand scaled 14X within 15 months post acquisition, while Disney’s consumer products business grew by a healthy 50% YOY under his leadership. Sandeep holds an MBA from The Wharton Business School of the University of Pennsylvania, and BTech from IIT Delhi. Vivek has been the Vice President of Revenue Strategy and Analytics at Times Internet, also managing TIL's AdTech stack. He has contributed towards the goal of increasing the group’s reach to a billion Indians and monetising this reach effectively through revenue initiatives. He has also been instrumental in major digital transformations at companies like Tata Cliq, MakeMyTrip and Indiatimes Shopping. Ram is a technology leader with hands-on experience in envisioning, architecting and delivering a broad range of distributed, internet scale &amp; real time applications. In his earlier role, he was responsible for leading new business initiatives &amp; setting up high performance technology teams &amp; evaluation of tech stacks for different business units under Times Internet, technology evaluation for new business acquisitions, integration of central services to different business units, responsible for cyber security of all Times Internet businesses and acquired businesses. With over four decades of combined experience between them, Vivek Pandey &amp; Ram have been the key pillars of the Times Internet’s central leadership team, having set up and led high performance analytical product, marketing &amp; technology teams for the group over the years.

Gaana shuffles leadership; hires Sandeep Lodha as new CEO

<ul><li>This is the third time the developer is proposing to take the company public after two failed attempts in 2009 and 2018 in the backdrop of unfavourable market conditions.</li><li>The reports indicated that the company took the decision to go public after a recent spurt in residential sales and improved investor sentiments.</li><li>The company is known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>One of India's largest real estate players Macrotech Developers — formerly known as <keyword id="6473062" type="UNKNOWN" weightage="20" keywordseo="Lodha-Developers">Lodha Developers</keyword> — has filed a draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI) to raise around ₹2,500 crore through an initial public offering, according to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/lodha-developers-plans-to-raise-rs-2500-crore-with-10-dilution-through-ipo/articleshow/81030219.cms">news reports</a>. The Mumbai-based company is known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London. For the proposed share sale, the company is looking to dilute at least a 10% stake. In 2019, the Lodha Developers changed its name to Macrotech Developers. However, the company said it will continue using the brand name ‘Lodha’ for selling and or leasing its property. The news reports indicated that the company took the decision to go public after a recent spurt in residential sales and improved investor sentiments. This is the third time the developer is proposing to take the company public after two failed attempts in 2009 and 2018 in the backdrop of unfavourable market conditions. The proposed amount of ₹2,500 crore is more than half of what the company had planned to raise earlier. In April 2018, Lodha Group had approached SEBI to raise around ₹5,500 crore through an initial public offering (IPO) and had received the regulator's nod to launch the IPO, but the company backed off citing challenging times for the realty sector. The company first attempted to list its shares on the bourses in 2009 to raise about ₹2,800 crore. The company also received SEBI's nod in early 2010, but later dropped the plan due to unfavourable market conditions caused by the global financial crisis of 2008. The reports indicated that the company has roped in investment banking firms such as Axis Capital, ICICI Securities, Edelweiss Securities, IIFL Securities, SBI Capital, JM Financial, Yes Securities, Bank of Baroda Capital, and JP Morgan as advisors for its IPO. “The <keyword id="6474120" type="UNKNOWN" weightage="20" keywordseo="Lodha-IPO">Lodha IPO</keyword> is majorly a primary issue of shares and the proceeds are likely to be used for debt reduction, land acquisition and new projects,” according to a Moneycontrol <a href="https://www.moneycontrol.com/news/business/lodha-developers-files-papers-with-sebi-for-rs-2500-crore-ipo-as-realty-makes-comeback-6529871.html">report</a>. The stars are aligning perfectly for Lodha Group The company is coming up with IPO plans just days after the Finance Minister Nirmala Sitharaman at the annual budget added thrust for affordable housing. Sitharaman extended the exemption for affordable housing until March 2022, making the section of the real estate sector quite attractive. The recent Economic Survey by Krishnamurthy Venkata Subramanian, India’s chief economic advisor, showed that the COVID-19 pandemic had hit the residential property market during the first quarter. However, the sales have now improved dramatically in the affordable homes segment since July. <div type="image" title="PR31122020_CH1" msid="81038248" hostid="261"></div> According to the RBI data, the year-on-year growth in the all-India House Price Index (HPI) continued to be moderate. It stood at 1.1% in the second quarter. The stocks of its listed peers such as DLF, Godrej Properties, and others have seen a favourable investors interest in the past three months. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change since Sept 30 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108.52% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Lifespace </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">106% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sobha Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">105% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brigade Enterprises </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">74% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/indian-hotel-companies-have-shown-resilience-during-the-pandemic-and-now-the-markets-are-celebrating-them/articleshow/81032369.cms" data-type="tilCustomLink">Indian hotel companies have shown resilience during the pandemic and now the markets are celebrating them</a> <a href="https://www.businessinsider.in/science/news/its-round-its-two-sided-and-it-could-be-the-most-accurate-world-map-created-till-date/articleshow/81033263.cms" data-type="tilCustomLink">It’s round, it’s two-sided and it could be the most accurate world map created till date</a>

Lodha Developers files papers for ₹2,500 crore IPO — will it be a third time charm?

New Delhi, Mar 5 () Realty firm Lodha group's UK subsidiary has raised over USD 200 million by issuing bonds in Singapore market to refinance part of its outstanding debt, sources said.The issue opened on February 27. The bonds will be listed on the Singapore exchange.Lodha Developers International, a subsidiary of Mumbai-based Lodha Developers (which has been renamed as Macrotech Developers), had proposed to offer USD 225 million (around Rs 1,611 crore) aggregate principal of senior secured notes maturing in 2023.According to the sources, Lodha group raised a little over USD 200 million in the bond-issue. Many global investors - including Allianz, Citi, UBS, and Fidelity invested in this issue.Lodha International will use the proceeds of the issue to refinance a part of its outstanding USD 324 million (around Rs 2,320 crore) senior notes maturing this month."Earlier this week, we raised 86 million pound (Rs 800 crore) in the UK. With these proceeds and additional cash flows from our UK and India businesses, we look forward to fully repaying our USD bonds in March 2020," Macrotech Developers MD &amp; CEO Abhishek Lodha had said on February 27.On Wednesday, Moody's Investors Service said that refinancing risk for Macrotech Developers continues to remain high, even as it might be able to meet its near-term debt maturity.Lodha group had made a foray into the London market in 2013 with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in prime Central London for over GBP 300 million (Rs 3,100 crore).Macrotech Developers is India's largest residential real estate developer by sales and construction area.The company has clocked net new sales of over Rs 7,000 crore in 2018-19 with collections of over Rs 9,000 crore. It delivered over 10,000 offices and homes in FY 18-19.In the first nine months of 2019-20 fiscal year, sales have reached around Rs 5,000 crore, up 15 per cent from the corresponding period of the previous year.The debt of India business is around Rs 15,000 crore. MJH BALBAL

Lodha group's UK arm raises over USD 200mn via bond-issue

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

Mumbai, Mar 12 () Lodha Ventures has invested USD 6 million in Multiliving, a platform that gets together homeowners and tenants. Lodha Ventures is the family office of Abhinandan Lodha, the son of city BJP chief Mangal Prabhat Lodha, the founder of realty player Lodha Group that is presently sailing through choppy times. Abhinandan is on the board of advisors for Multiliving, a statement said. MultiLiving enables tenants to rent curated homes with a personal concierge and added services along with ensuring hassle-free management of assets and steady returns for the homeowners, it said. It currently operates in the financial capital with a limited number of curated flats at locations like Lower Parel, Powai, the BKC business district, Kanjurmarg and Vikhroli. The financial capital is home to one of the highest levels of unsold inventories for realty players, due to which developers are finding it difficult to go. This has also caused concerns among the home owners who had invested in property with an eye on returns. AA MRMR

Lodha Ventures invests USD 6 million in Multiliving

India is standing at the edge of a potential housing boom, which as per <keyword id="6397676" type="CITY" weightage="100" keywordseo="CLSA">CLSA</keyword> India estimates, could reach up to $1.3 trillion in the next seven years. The country’s growing middle class is demanding better housing, and is better efficient than ever when it comes to the means to achieve this dream. India has always been extreme in its housing approach, with sprawling slums at one end and enormous mansions at the other. However, the gap can be filled now, since CLSA analysts think that the country might make good use of a broad acceleration in residential construction in the $2 trillion economy. "The last decade was about price appreciation," Pankaj Kapoor, founder of Mumbai-based <keyword id="1086661" type="UNKNOWN" weightage="100" keywordseo="Liases-Foras-Real-Estate-Rating-Research">Liases Foras Real Estate Rating &amp; Research</keyword> told <a href="https://www.bloomberg.com/politics/articles/2017-06-05/from-tenement-to-township-india-s-1-3-trillion-housing-push">Bloomberg</a>. "This decade will be about volume growth," he adds. It was in November last year when PM Modi played the demonetisation card to control corruption and black money, a move that impacted the Indian <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> hard. However, the industry seems to be in the mood of recovery, with housing sales growing 19% across nine cities in the March quarter, says data from PropTiger.com. The population factor plays its role too, with about 69% of the country's 1.3 billion people being in prime age of house buying, i.e., between 20 to 40 years. This is more than any other nation, says a Bloomberg Intelligence report from April. Similarly, CLSA's note dated May says that the per capita income has also grown at a compound annual growth rate of 10% for the past five years, which means that an average Indian can get a house in this boom. However, when it comes to having the adequate number of houses to home this middle class, we lag behind. With more and more people migrating to urban areas, the infrastructure has weighed down, land costs have gone up, and eventually, there is a shortage of houses. However, Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s "<keyword id="2481158" type="UNKNOWN" weightage="100" keywordseo="Housing-for-All">Housing for All</keyword>" programme, which was launched in June 2015 comes as a saving grace. The programme aims to build 20 million urban homes and 30 million rural houses by 2022, making property the most affordable in two decades. The programme, unfortunately, remains marred because of several hurdles. There's still "a big question mark" over whether the government's housing plan is "realistic and implementable," says <keyword id="6420759" type="PERSON" weightage="100" keywordseo="Anuj-Puri">Anuj Puri</keyword>, chairman of real-estate services at JLL Residential. "It seems impossible if enough land is not released for the creation of affordable housing. Land is a very price-sensitive commodity, and its current shortage in major city-centric areas prevents the development of affordable housing in areas where it is most direly needed." Even with these challenges, the government has started to view housing as an "economic enabler," said <keyword id="167433" type="PERSON" weightage="100" keywordseo="Abhishek-Lodha">Abhishek Lodha</keyword>, MD of <keyword id="46877" type="COMPANY" weightage="100" keywordseo="Lodha-group">Lodha Group</keyword>, one of India's biggest property developers. "The government has started recognizing that for the middle class to start creating wealth for themselves they have to participate in housing, just like any democracy," he adds. Banks are not far behind when it comes to the race to get a piece of the action. The country has seen more than 16 mortgage financiers commencing work in the two years to last June, with banks offering housing loans as a way to boost capital and offset commercial loans that it’s burnt hands with in form of mounting bad debts. CLSA expects that India would see 60 million new homes between 2018 and 2024, with a 70% rise in social and affordable housing. The propagated dream of the PM, to give every Indian a home, might eventually come true sometime in the future. (Image source Mom Constructions)

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