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Domestic firms will <keyword id="6356112" type="General" weightage="100" keywordseo="lease" source="Orion">lease</keyword> an estimated 60-65 million square feet of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> between 2024 and 2025, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword> South Asia's report, '<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Inc's Ascension - The Rise of Domestic Firms as an Office Demand Driver'. Domestic companies have been responsible for nearly 47 per cent of office leasing activity from 2022 to H1 2024, marking a departure from the traditional dominance of global corporations, particularly American firms. During 2022-2023, domestic firms experienced a 60 per cent surge in office space absorption compared to the pre-pandemic period of 2018-2019. Key occupier groups have secured significant spaces in prime locations across major cities, with <keyword id="19913115" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi-NCR</keyword> leading, followed by <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and Mumbai. E-commerce and life sciences companies have driven occupancy in Bengaluru and Hyderabad, respectively, while Mumbai has captured a substantial 43 per cent share of domestic <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> leasing, with strong contributions from Delhi-NCR and Chennai. The report attributes the robust growth of India's office market to several factors, including government initiatives like Make in India and the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) Scheme. These programs, along with increased domestic manufacturing, employment generation, and a well-capitalized banking sector, have created a supportive environment for business expansion. Other contributing factors include low corporate leverage ratios and improved access to capital, which have enhanced the investment capacity of Indian companies. India's talent pool, with approximately 2.5 million STEM graduates and a thriving start-up ecosystem featuring over 100 unicorns, has also been a major driver of growth. With over 38 sector skill councils, the government's focus on bridging the skill gap is preparing domestic firms for future demands, further bolstering the office leasing sector. Flexible space operators, technology, and BFSI sectors have emerged as the primary drivers of office leasing, collectively accounting for two-thirds of all domestic activity. The RCA sector, which includes legal, taxation, HR, and media services, is also playing a significant role in boosting domestic leasing. Additionally, Indian engineering and manufacturing firms, which currently represent 7-8 per cent of domestic office leasing, are expected to expand into <keyword id="20270212" type="General" weightage="20" keywordseo="tier-ii" source="keywords">Tier-II</keyword> and Tier-III cities, which are emerging as manufacturing hubs. Anshuman Magazine, Chairman and CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "India's rapidly expanding start-up ecosystem and talent abundance are major drivers of this demand. As India's major urban centers continue to grow and diversify, the demand for premium office spaces will shape the future of the commercial real estate market, setting new standards for innovation and excellence. He added, "India's top nine cities are poised to see an impressive addition of ~185 million sq. ft. of premium office space by 2026. This dramatic increase in office space is a testament to several key factors driving the transformation of the commercial real estate landscape". Ram Chandnani, Managing Director, Advisory and Transaction Services, CBRE India, said, "Advances in technology, especially artificial intelligence (AI), are poised to further transform the office sector. While AI may cause job displacement in some areas, it will also create new opportunities and necessitate comprehensive workforce reskilling. The surge in workforce needs, driven by digitalization, evolving workplace strategies, and enhanced business confidence, has substantially boosted leasing activity."

Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> will acquire <keyword id="21434388" type="General" weightage="20" keywordseo="Orient-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Orient Cement" meta.hostid="261" meta.entityid="Orient Cement">Orient Cement</keyword> at a valuation of ₹8,100 crore.</li><li><keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> has signed a binding agreement for the acquisition of the company.</li><li>The latest acquisition will add 16.6 MTPA capacity to Adani Cement.</li></ul>Gautam Adani-led Adani Group on Tuesday said it will acquire <keyword id="21501327" type="General" weightage="20" keywordseo="CK-Birla-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="CK Birla Group" meta.hostid="261" meta.entityid="CK Birla Group">CK Birla group</keyword> firm Orient Cement at a valuation of ₹8,100 crore as part of its expansion drive. Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of ₹8,100 crore. As per that, its step-down unit "Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders", according to a joint statement. The acquisition will be fully funded through internal accruals, it added. The latest acquisition will add 16.6 MTPA (million tonnes per annum) capacity to Adani Cement, which operates through Ambuja Cements in the sector. In June this year, Adani announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of ₹10,422 crore, which added 14 MTPA capacity to the country's second-largest manufacturer. "This timed acquisition marks another significant step forward in Ambuja Cements' accelerated growth journey, increasing <keyword id="21171283" type="General" weightage="20" keywordseo="cement-capacity" source="keywords">cement capacity</keyword> by ~30 MTPA within two years of Ambuja's acquisition," said Karan Adani, Director of Ambuja Cements. By acquiring OCL, Ambuja is poised to reach 100 MTPA cement capacity in FY25, he said, adding, "The acquisition will help to expand Adani Cement's presence in core markets and improve its pan-India market share by 2 per cent." OCL has 5.6 MTPA clinker capacity and 8.5 MTPA cement capacity along with the statutory clearance to increase the clinker capacity by another 6.0 MTPA and cement capacity by another 8.1 MTPA. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a>

Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

EV-as-a-service platform <keyword id="19895200" type="General" weightage="20" keywordseo="zypp-electric" source="keywords" meta.keywordsubtype="org" meta.entityname="zypp electric" meta.hostid="261" meta.entityid="zypp electric">Zypp Electric</keyword> on Monday said it has raised USD 15-million <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> from <keyword id="21822063" type="General" weightage="20" keywordseo="japanese-firm" source="keywords">Japanese firm</keyword> ENEOS. The series C funding comprises USD 15-million in <keyword id="21822065" type="General" weightage="20" keywordseo="equity-closure" source="keywords">equity closure</keyword>, as part of its ongoing USD 50-million round, which comprises USD 40-million in equity and USD 10-million in debt, the company said in a statement. The fresh capital raised under Series C, in which other investors existing investors 9unicorns, IAN fund, venture catalysts, WFC and others also participated, will be utilised to expand Zypp's fleet from 21,000 to 2-lakh electric scooters and extend its services to 15 cities across India by 2026, it added. The fresh investment will help Zypp in the last-mile delivery space with sustainable EV solutions, said Akash Gupta, Co-founder and CEO of Zypp Electric. "We are eager to expand our fleet and enhance our tech platform, driving significant growth across India. These funds will be utilised to drive the company towards the full path of growth along with earnings before interest, taxes, depreciation, and amortization (EBITDA) profitability," he added. Further, Zypp Electric said it has forayed into the three-wheeler cargo business and claims of soon crossing 1,000 electric L5 loaders in its EV fleet and added that the company is set to cater to a wider range of business needs while maximising revenue streams, among others. According to Zypp Electric, it clocked Rs 325-crore revenue in FY 2023-24 and launched operations in Mumbai and Hyderabad recently. "In India, the last-mile delivery market is skyrocketing especially within urban areas. Zypp is operating its business as a pioneer in the EV motorcycle delivery market with competitiveness and this is the reason why we made the decision to invest," ENEOS was quoted as saying in the statement. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank">Poco F6 vs Realme GT 6T – which mid-range smartphone should you buy?</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank">Realme GT 6T vs Motorola Edge 50 Pro – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank">India’s wearable shipments rise by 2.1% in Q1 2024, average price declines</a>

Zypp Electric raises $15 million funding in Series C Round

<ul><li><keyword id="19959099" type="General" weightage="100" keywordseo="Sunrisers-Hyderabad" source="keywords" meta.keywordsubtype="org" meta.entityname="Sunrisers Hyderabad" meta.hostid="261" meta.entityid="Sunrisers Hyderabad">Sunrisers Hyderabad</keyword> will play against <keyword id="20138181" type="General" weightage="20" keywordseo="Punjab-Kings" source="keywords" meta.keywordsubtype="org" meta.entityname="Punjab Kings" meta.hostid="261" meta.entityid="Punjab Kings">Punjab Kings</keyword> in their final league stage match.</li><li>Sunrisers has the chance to take the <keyword id="19911469" type="General" weightage="20" keywordseo="second-spot" source="keywords">second spot</keyword> if it wins against Punjab in its last match.</li><li><keyword id="19905155" type="General" weightage="20" keywordseo="Rajasthan-Royals" source="keywords" meta.keywordsubtype="org" meta.entityname="Rajasthan Royals" meta.hostid="261" meta.entityid="Rajasthan Royals">Rajasthan Royals</keyword> and Kolkata Knight Riders are set to play the final league stage match of IPL 2024 on May 19.</li></ul>After making their first playoffs in three years, Sunrisers Hyderabad (SRH) will now aim for a second-place finish in the <keyword id="21334807" type="General" weightage="20" keywordseo="IPL-points-table" source="keywords">IPL points table</keyword> when they take on Punjab Kings (PBKS) in their final league game on Sunday in Hyderabad. Sunrisers Hyderabad had finished in the bottom rung in each of the last three editions of the IPL, came out all guns blazing this year to establish themselves as firm contenders for the title with their ultra-aggressive batting approach and skilful bowling. The Pat Cummins-led side made it to the final four after their clash against Gujarat Titans at the Rajiv Gandhi International Stadium in Hyderabad was washed out due to rain. SRH is currently at the third spot with 15 points from 13 matches, SRH can reach a maximum of 17 points if they get the better of PBKS on Sunday. However, if the struggling Rajasthan Royals manage to beat table-toppers Kolkata Knight Riders in the last league match, the Sanju Samson-led side will overtake SRH to take the second spot with 18 points. The third-placed Sunrisers have been somewhat unlucky in their last six outings, winning just two while three matches ended in defeats and one match was a washout. However, in their last completed contest, SRH had pulverised Lucknow Super Giants by 10 wickets with their explosive opening pair of Travis Head and Abhishek Sharma delivering the goods. With 533 runs in 11 matches and the best strike rate of 201.89 among batters, Head is in pursuit of the Orange Cap with only Virat Kohli (661 runs) and Ruturaj Gaikwad (583 runs) ahead of him. SRH will be keen to address the batting concerns as wicketkeeper-batter Heinrich Klaasen has lacked consistency in the last few games, though Nitish Kumar Reddy has picked up well in the same period. For PBKS, it will be an opportunity to bow out on a high after failing to make it to the final four again. PBKS have lost the services of their England players, including stand-in skipper Sam Curran, who had played a decisive role in their five-wicket win over Rajasthan Royals. With Curran returning home for national duty, Indian wicketkeeper-batter Jitesh Sharma will lead the Punjab Kings in their final match of the season. It could be an opportunity for Jitesh to make an impression on the franchises, who are set for a mega auction before next year's IPL. The match between Sunrisers Hyderabad and Punjab Kings will start at 3:30 PM on Sunday, May 19 at Hyderabad. The final league stage match of IPL 2024 is scheduled at 7:30 PM on the same day, as the table toppers Kolkata Knight Riders take on Rajasthan Royals. At 7:30 PM today, Royal Challengers Bengaluru and Chennai Super Kings will compete with each other as they look to book the final spot for the playoffs. If SRH finishes third, they will face either Chennai Super Kings or Royal Challengers Bengaluru in the Eliminator. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

Sunrisers Hyderabad to take on Punjab Kings as they look to grab the second spot in IPL points table

Tata Consultancy Services has topped the <keyword id="28120" type="General" weightage="20" keywordseo="linkedin" source="Orion">LinkedIn</keyword>'s latest list of top companies to work for in India, followed by <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> and <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> in the second and third place respectively. Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein <keyword id="6357647" type="General" weightage="20" keywordseo="it-companies" source="Orion">IT companies</keyword> bagged the top three ranks, while <keyword id="6354241" type="General" weightage="20" keywordseo="financial-services" source="Orion">financial services</keyword> firms dominated the list with 9 out of 25 companies from this sector. The 8th edition has derived insights from LinkedIn data, and lists the top 25 large companies, 15 best mid-size companies, and provides insights on in-demand skills, top locations, and the largest job functions within these companies. Amongst large companies (500+ employees in India), Tata Consultancy Services retained its top spot this year, followed by Accenture and Cognizant. Continuing the trend from last year, financial services dominated the 2024 list with 9 out of 25 companies from this sector including Macquarie Group (4th place), Morgan Stanley (5th), and JPMorgan Chase and Co (6th), LinkedIn said. Software-as-a-service (SaaS) platform Lentra ranked first on the list of top mid-size companies list (250-500 employees), followed by Indian online travel platform MakeMyTrip. The list also featured fashion and beauty retailer Nykaa and fantasy sports platform Dream11, showcasing the wide range of opportunities available in diverse industries for job seekers in India. "The in-demand skills that the top companies are looking for in the financial services sector include investor relations, capital markets, and investment banking. Companies in the technology sector are looking for skills such as enterprise software, data storage technologies, software development life cycle (SDLC), and artificial intelligence (AI)," the data revealed. Revenue analysis, nonprofit management, and mobile application development are some of the other skills that are witnessing a surge in demand, it added. Silicon valley of India, Bengaluru was named the top location where these top companies are based and looking to hire talent, followed by Hyderabad, Mumbai Metropolitan Region, and Pune. LinkedIn said the ranking of companies is based on eight pillars that have been shown to lead to career progression such as the ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity, educational background, and employee presence in the country.

Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list

<ul><li>Bengaluru, Pune, and Kolkata each observed a 7% annual increase in office rental values between H1 2023 and H1 2024. </li><li>Mumbai metropolitan region (MMR) and national capital region (NCR) registered a 5% rise each. </li><li>From constituting 11% of the leasing market in H1 FY2020, coworking spaces constitute a 24% share in H1 FY2024. </li></ul>Office rentals have gone up in top seven cities in 2023 when compared to the previous year. In Chennai, there was a 10% annual surge in the average monthly office rental values, rising from approximately ₹62 per sq. ft. in H1 FY23 to about ₹68 per sq. ft. in H1 FY24. Following closely, Hyderabad experienced an 8% yearly growth, with the average monthly office rental value climbing from ₹61 per sq. ft. in H1 FY 2023 to roughly ₹66 per sq. ft. in H1 FY2024, according to ANAROCK research data. Bengaluru, Pune, and Kolkata each observed a 7% annual increase in office rental values during this period, MMR and NCR registered a 5% rise each. In MMR, the most expensive office market, the monthly average office rental value surged from ₹130 per square foot in the H1 FY 2023 to ₹136 per square foot in H1 FY 2024. Meanwhile, in the NCR, the average office rental value was ₹81 per square foot in H1 FY23, witnessing an increase to ₹85 per square foot in H1 FY 2024. In Bengaluru, the average monthly office rental value stood at ₹90 per sq. ft. in H1 FY2024, a rise from ₹84 per sq. ft. in H1 FY23. Meanwhile, Pune witnessed a shift from ₹74 per sq. ft. in H1 FY23 to ₹79 per sq. ft. in H1 FY24. In Kolkata, the average monthly rental reached ₹58 per sq. ft. compared to ₹54 per sq. ft over the same period. Currently, the city boasts the most economical office rental values among the top 7 cities. Says Prashant Thakur, regional director and head , research, ANAROCK Group, "Research data indicates that Grade A office rental values averaged at ₹83 per sq. ft. per month across the top 7 cities in H1 FY2024, while in the corresponding period in FY23, it was approx. ₹77.5 per sq. ft." “The rising demand and a diminishing supply for Grade A office space in prime locations is leading to a simultaneous increase in office rentals. Both international and Indian corporations are proactively searching for enhanced office spaces to accommodate the growing needs of their expanding businesses,” says Mohit Batra, Regional Director, Realistic Realtors, a real estate firm. Commercial leasing remain tepid During the period mentioned, however, there was a notable lack of momentum in commercial office space activity across the top 7 cities. Both the net absorption of office spaces and the completion of new office developments remained relatively unchanged compared to the corresponding period in the previous year. The increase in new office supply across these cities was minimal, with a mere 5% rise in H1 FY24 in contrast to H1 FY23. Simultaneously, the net absorption of office spaces experienced a slight annual decrease of 1% during this timeframe. “It was widely anticipated that commercial office space demand in India will see a downturn amid layoffs by several large corporations worldwide, and shrinking business volumes," says Thakur. Co-working spaces continue to be in demand In terms of net absorption categorised by sectors, the information technology (IT) and IT-enabled services (ITeS) segment maintained its dominance in leasing activities during the first half of Fiscal Year (H1 FY) 2024. However, there has been a consistent decline in its overall contribution to leasing transactions year after year. In H1 FY2020, the IT/ITeS sector held a 46% share in overall leasing activities, but by H1 FY2024, this share dwindled to a mere 29%. Consequently, there has been an uptick in the share of coworking spaces. From constituting 11% of the leasing market in H1 FY2020, coworking spaces constitute a 24% share in H1 FY2024. This shift indicates a changing preference among corporations of varying scales, who now perceive flexible workspaces as a practical and more cost-efficient alternative for their operations.

Office rentals rise across top 7 cities as new supply remains minimal

<keyword id="1390483" type="General" weightage="50" keywordseo="housing-sales" source="Orion">Housing sales</keyword> rose 36% year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, <keyword id="6354553" type="General" weightage="80" keywordseo="real-estate" source="Orion">real estate</keyword> consultant Anarock said average housing prices across the seven cities grew 11% annually in the July-September period this year. Hyderabad saw the highest rise of 18%. Anarock highlighted that quarterly sales in July-September touched an all-time high. In housing data, sales of apartments, villas and independent floors are included while plots are excluded. Anarock Chairman Anuj Puri highlighted that Mumbai Metropolitan Region (MMR) and Pune contributed 51% of the total sales. Puri noted that the continued healthy sales momentum is at least partially attributable to the repo rate pause maintained by the Reserve Bank of India in the two recent monetary policies. "This has kept home loan interest rates stable, keeping housing purchase sentiment high," he added. According to the data, housing sales in Delhi-NCR rose 6% to 15,865 units during July-September 2023 from 14,970 units in the year-ago period. In MMR, housing sales increased 46% to 38,500 units from 26,400 units during the period under review. Housing sales in Bengaluru went up 29% to 16,395 units during July-September this year from 12,690 units in the corresponding period of last year. In Pune, sales grew maximum by 63% to 22,885 units from 14,080 units. Sales of residential properties in Hyderabad increased 41% to 16,375 units from 11,650 units. In Chennai, housing sales rose 42% to 4,940 units from 3,490 units. Housing sales in Kolkata went up 7% to 5,320 units during July-September from 4,950 units in the year-ago period. "The ever-rising aspiration of owning a home mainly driven by rising income levels has meant a strong demand for housing over the last couple of years. The trend is expected to continue in the foreseeable future," Gurugram-based realty firm Krisumi Corporation Managing Director Mohit Jain said. The demand for luxury housing too is likely to remain strong amid the desire for upscale living experiences, he said. "Keeping pace with the demand for luxury homes, the supply is also expected to remain strong," Jain said.

Housing sales up 36% in Jul-Sep in top 7 cities: Anarock

<ul><li>Gated communities are a hot favourite amongst not only NRIs but affluent Indian residents as well.</li><li>Chennai, <keyword id="6354552" type="General" weightage="40" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, and Mumbai are seeing the maximum <keyword id="11904949" type="General" weightage="100" keywordseo="nri" source="Orion">NRI</keyword> demand. NRIs are also showing notable interest in senior living real estate projects</li></ul> The non-resident Indians, better known as NRIs, might be having a Swades moment. No, they are not returning to their homeland but have been noticed as buying property in the country with gusto. In an interview to Business Insider, Saurabh Garg, Co-founder and Chief Business Officer at NoBroker said, “We have witnessed a 35% growth year-on-year in the investment of NRIs in Indian residential real estate. This burgeoning trend is especially evident in their preference for gated communities, which offer a host of amenities.” Gated communities are a hot favourite amongst not only NRIs but the affluent Indian residents as well. Just a month back, a Hyderabad-based construction firm launched a Rs 3,000 crore <keyword id="1775779" type="General" weightage="30" keywordseo="gated-community" source="Orion">gated community</keyword> project claiming that it is the biggest in the city which has steadily seen a rise in rentals in the past few years. Adds Garg, “These communities provide not only enhanced security but a host of modern lifestyle resources, all of which contribute to an elevated lifestyle and high returns on investment (ROI) should they decide to rent out or sell later.” The logic behind the rise in <keyword id="541044" type="General" weightage="80" keywordseo="nri-investment" source="Orion">NRI investment</keyword> The increased investment in Indian real estate by NRIs can be attributed to the ease of investment, owing to technological changes, especially as things are now online. The increased demand from NRIs is especially from the gulf countries, followed by Singapore, the United States, and Australia, says the NoBroker research. Chennai, Hyderabad, and Mumbai have seen maximum demand, but no surprises there. Parallel to this trend, NRIs are also showing notable interest in senior living real estate projects for their parents or grandparents. These properties usually have healthcare facilities or partnerships with nearby healthcare providers. Thus, their elders can have easy access to medical assistance within the comfort of their homes. “A substantial 65% (of the interested NRIs) are opting to purchase properties for personal use, either for themselves or their parents,” Garg adds. Other interesting trends The NoBroker half-yearly report points to some changing patterns in the Indian real estate market, especially when renting is concerned. 3BHK units in greater demand: Potential buyers from Bangalore, Chennai and Delhi-NCR prefer 3BHK units over the earlier favourite 2BHKs. The primary reason behind this is the hybrid work culture as there is a need for a larger space to work as well as live. Further Investments: For the first time in many years, property owners are getting the “asking price” for their properties. The report says that 40% of landlords are considering investing in a new property. Quick renting turnaround: On average gated society properties get rented out 30% faster than non-gated society properties, says the report. 52% of the surveyed in Delhi mentioned that their properties got rented out within a fortnight. This was 46% in Mumbai.

Indian real estate sees 35% rise in demand from NRI customers

<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

Ticket sales began on Wednesday for the first-ever ABB FIA Formula E World Championship race in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> to be held in <keyword id="6354552" type="General" weightage="100" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> on February 11. Telangana Government's Special Chief Secretary (Municipal Administration) <keyword id="140987" type="General" weightage="50" keywordseo="arvind-kumar" source="Orion">Arvind Kumar</keyword> booked the first ticket at an event here. The "world's fastest, lightest, most powerful and efficient electric race car - the Gen3" is coming to Hyderabad on February 11 for the event, a press release issued by the organisers said. Private firm <keyword id="15434652" type="General" weightage="50" keywordseo="ace-nxt-gen" source="Orion">Ace Nxt Gen</keyword> is the official promoter of the <keyword id="7123812" type="General" weightage="80" keywordseo="formula-e-race" source="Orion">Formula E Race</keyword> in India in partnership with Formula E and the Telangana government. Speaking on the occasion, Kumar said the event would place Hyderabad as a global destination for e-mobility. A total of 11 teams with 22 cars would be racing here and they include some of the top racing companies, he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-won-the-first-t20i-against-sri-lanka-in-a-nail-biting-finish/slidelist/96733749.cms">India won the first T20I against Sri Lanka in a nail biting finish</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ms-dhoni-backed-drone-firm-garuda-aerospace-launches-farmers-focused-film/articleshow/96734751.cms">MS Dhoni-backed drone firm Garuda Aerospace launches farmers-focused film</a>

Tickets sales start for India's first-ever Formula E race in Hyderabad

<ul><li>Kolkata is the most affordable residential market in the country. </li><li>Chennai and <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> also have relatively good affordability levels, but <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> may soon slip below the threshold of an affordable market. </li><li>It is becoming increasingly expensive to buy homes for buyers due to macroeconomic headwinds, inflationary pressures and rising input costs. </li></ul>Kolkata, <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, and <keyword id="2094" type="General" weightage="80" keywordseo="pune" source="Orion">Pune</keyword> remain the most affordable residential markets in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> while the metropolitan city of Mumbai has become slightly less affordable, reveals real estate firm <keyword id="6370127" type="General" weightage="100" keywordseo="jll" source="Orion">JLL</keyword>’s Home Purchase Affordability Index (<keyword id="4260039" type="General" weightage="80" keywordseo="hpai" source="Orion">HPAI</keyword>) 2022 Report. However, affordability levels are set to progressively fall for 2022 and 2023 as macroeconomic headwinds and inflationary pressures eat into household incomes, and residential prices rise as input costs are yet to be fully transmitted, JLL said. RBI’s Repo rate hike is yet another factor that will lower affordability levels, it added. “Affordability levels are likely to trend down through the end of 2022 and thereafter in 2023 as well. Mortgage rates are likely to move up further to near 8-year highs. Price pressures and slower income growth are further likely to create a temporary glitch for affordability,” Samantak Das, chief economist, and head of Research and REIS, India, JLL said. This would, however, be a temporary phase, and the momentum witnessed during 2013 and 2021 – when affordability increased consistently across the key seven cities – is likely to sustain. “While affordability is likely to be impacted, the momentum-inhibitor looks to be a temporary one with India’s focus on economic growth and likely easing of inflationary pressures expected to reverse the current interest rate growth,” said <keyword id="7251915" type="General" weightage="50" keywordseo="siva-krishnan" source="Orion">Siva Krishnan</keyword>, managing director, and head of <keyword id="15703348" type="General" weightage="50" keywordseo="residential-services-india" source="Orion">Residential Services India</keyword>. India’s most affordable housing cities in 2022 Kolkata, with a value of 192 is still on track to remain the most affordable residential market in the country among the top seven cities with Pune (183) and Hyderabad (174) close second. All three cities are likely to register lower affordability for 2022 and 2023, the report said. “Mumbai has been the fastest-moving city in terms of its HPAI score improvement and became an affordable market with its threshold hitting 100. It is likely to slip below the threshold value of an affordable market but only slightly given all the macroeconomic headwinds and remain much above its HPAI low of 43 in 2013,” said JLL. JLL Home Purchase Affordability Index (HPAI) signifies whether a household earning an average annual income (at an overall city level) is eligible for a housing loan on a property in the city, at the prevailing market price. A value of 100 means that a household has exactly enough income to qualify for a housing loan. Going below that marker means an average household does not have enough income to qualify for a housing loan. Chennai (161) and Bengaluru (167) have relatively good affordability levels, the report added. Affordability to still remain attractive JLL Research’s analysis revealed that affordability was at its highest in 2021 with decadal low interest rates, attractive prices and household income recovery all coming together to create the perfect storm. In 2022, affordability gains have been slightly mitigated as inflationary pressures have caused developers to pass on the rise in input costs to the buyers and the RBI’s repo rate hikes have resulted in higher home loan costs. The current year is likely to see household incomes rise by an average of 7%. Residential prices have also risen driven by robust demand and pass-through of rising input costs onto homebuyers, with the price growth averaging 4-10% across the major cities, the report added. “What remains pertinent is that we are coming off an 18-month period of a robust recovery in residential demand even as prices and interest rates have moved up during the latter part of this timeframe,” said Krishnan. “Affordability despite the estimates of a decline will still remain quite attractive and second best only to 2021,” he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/go-after-big-smugglers-sending-mountains-of-illegal-drugs-into-the-country-fm-to-enforcement-agencies/articleshow/96001566.cms">Go after big smugglers sending 'mountains' of illegal drugs into the country: FM to enforcement agencies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-services-sector-output-growth-hits-3-month-high-in-nov-on-strong-demand/articleshow/96001482.cms">India's services sector output growth hits 3-month high in Nov on strong demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/upcoming-whatsapp-new-features-in-2023/articleshow/95998284.cms">Check out upcoming new WhatsApp features in 2023</a>

Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL

<keyword id="7537495" type="General" weightage="50" keywordseo="skyroot-aerospace" source="Orion">Skyroot Aerospace</keyword>, which successfully launched the country's first private rocket Vikram-S recently, plans to launch Vikram-1, a much bigger rocket to place satellites into orbit, within a year. The Hyderabad-based space startup also aims to slash the costs of space travel in the future. "..now that we have done the first private rocket launch, Vikram-S, our next plan is to launch Vikram-1 which is a much bigger rocket putting satellites into orbit. That we want to do within a year from now," Pawan Chandana, co-founder of <keyword id="9750118" type="General" weightage="100" keywordseo="skyroot" source="Orion">Skyroot</keyword>, told PTI here Monday evening. Skyroot also wants to become one of the first few companies in the world that can place satellites into orbit. He said the firm has raised about USD 68 million, which is the largest in the aerospace startup ecosystem in India. "Of course, it took close to four years to raise this kind of capital. Now, we are good for the first few launches to orbit and then, of course, it has been very challenging because first time somebody went to the market and raised such large capital," Chandana said. Skyroot would keep on raising more capital in its journey forward and would like to generate a good amount of revenue as it starts launching next year, he said. Noting that space travel is expensive now, he said his firm aims to slash costs, make it affordable and increase reliability. "Today, the biggest problem is that space travel is very costly. Because, rockets, the only way to go to space are very unreliable. Sometimes, they don't work and are also very expensive. They fall into the sea and then you are building something, throwing it away. It's very costly," he said. The Blue Origin of <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword> founder <keyword id="191583" type="General" weightage="50" keywordseo="jeff-bezos" source="Orion">Jeff Bezos</keyword> started offering services such as space travel and it may take up to 10 years to become a reality from an Indian perspective, he added. India on November 18 successfully launched its first privately made rocket, developed by four-year-old Skyroot, marking the entry of the private sector into the country's space ecosystem, which is currently dominated by the state-run behemoth ISRO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/people-ready-to-pay-15-20-premium-for-health-and-wellness-amenities-in-housing-properties-dhaval-ajmera/articleshow/95832362.cms">People ready to pay 15-20% premium for health and wellness amenities in housing properties: Dhaval Ajmera</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-microsoft-backed-verse-innovation-sacks-150-employees/articleshow/95849920.cms">Google, Microsoft backed VerSe Innovation sacks 150 employees, cuts pay for employees earning ₹10 lakh or more</a>

Skyroot Aerospace plans to launch another rocket Vikram-1, in one year

The three nano-satellites developed by startups which were successfully placed into orbits during Saturday's PSLV C54/EOS-06 mission would have significant bearing in the private sector's future endeavours, a top official of space regulator Indian National Space Promotion and Authorisation Centre (IN-SPACe) said. Apart from the primary payload -- an Earth Observation Satellite (Oceansat) and five other co-passenger satellites -- the Polar Satellite Launch Vehicle C54 successfully placed Thybolt-1 and 2 satellites, 'Anand' nano-satellites developed by space startups Hyderabad-based <keyword id="2623423" type="General" weightage="80" keywordseo="dhruva-space" source="Orion">Dhruva Space</keyword> and Bangalore-based Pixxel, respectively. IN-SPACe is an autonomous body under the Department of Space. IN-SPACe and <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO) facilitated the launch of Thybolt-1 and 2 and 'Anand' satellites onboard PSLV-C54, a press release said. "We stand witness to yet another successful launch by ISRO today. For the private sector, it is indeed a remarkable feat as <keyword id="3722" type="General" weightage="80" keywordseo="dhruva" source="Orion">Dhruva</keyword> space and Pixxel successfully executed their missions," IN-SPACe chairman Pawan K Goenka said. "One of the private firms to be granted approval for payloads launch by IN-SPACe, Dhruva Space is leading the way in the development of indigenous satellites, while Pixxel takes another step towards building a constellation of hyperspectral imaging satellites with the successful launch of Anand," he said. "These launches by Indian startups will have significant bearing on the Indian private sector's future endeavours in space," Goenka said. The indigenously developed satellites by Dhruva Space would contribute towards augmenting amateur communications and can be used for communication during disaster management, and low bit-rate applications. "This is a moment we have long been preparing for and we are truly grateful to all the support IN-SPACe has given in bringing this mission to fruition right from authorisation to execution" Dhruva Space Pvt Ltd CEO Sanjay Nekkanti said. "We are also grateful to the Department of Space, ISRO and <keyword id="10244841" type="General" weightage="50" keywordseo="newspace-india-ltd" source="Orion">NewSpace India Ltd</keyword> for their assistance," he said. PSLVC54 successfully placed EOS-06 (Oceansat) and eight nano satellites including BhutanSat and four Astrocast satellites from Spaceflight USA along with 'Anand' from Pixxel and two Thybolt satellites from Dhruva Space. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/musk-reveals-twitter-2-0-says-top-software-aces-joining-company/articleshow/95801283.cms">Musk reveals Twitter 2.0, says top software aces joining company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/risk-management-must-be-driven-by-understanding-of-what-is-good-for-corporate-ex-chairman-sebi/articleshow/95800960.cms">Risk management must be driven by understanding of what is good for corporate: Ex-chairman Sebi</a>

You Searched For "Hyderabad IT firms" and got 13 results

Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

ANI

Adani Group to acquire CK Birla group firm Orient Cement at ₹8,100 crore valuation

BI India Bureau

Zypp Electric raises $15 million funding in Series C Round

PTI

Sunrisers Hyderabad to take on Punjab Kings as they look to grab the second spot in IPL points table

Sourabh Jain

Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list

PTI

Office rentals rise across top 7 cities as new supply remains minimal

Anagh Pal

Housing sales up 36% in Jul-Sep in top 7 cities: Anarock

PTI

Indian real estate sees 35% rise in demand from NRI customers

Abhishek Jha

About 27K employees lost jobs at Indian startups to date, over 8K this year

IANS

Tickets sales start for India's first-ever Formula E race in Hyderabad

PTI

Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL

Eetika Kapoor

Skyroot Aerospace plans to launch another rocket Vikram-1, in one year

PTI

Nano-satellites built by startups augurs well for private sector's future endeavours: IN-SPACe

PTI

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