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As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

<ul><li>As many as 12,602 housing units were registered in Mumbai between Navratri until Bhai Dooj.</li><li>The festive fervour has made the state exchequer richer by ₹1,257 crore.</li><li>Approximately 40% of residential units are sold during the last quarter of the year, say experts. </li></ul>India’s consumption story is a tale of two Indias. Even as consumer companies are battling a slowdown, demand for real estate has not cooled despite rising interest rates. It’s been a great festival season for Mumbai’s real estate developers, which is one of the most expensive real estate markets in the world. As many as 12,602 units were registered between Navratri until Bhai Dooj – that’s October 15-November 15, 2023. It represents a 30% growth over last year’s festival period, as per <keyword id="151748" type="General" weightage="50" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>. Thanks to as many as 407 units being registered per day, the festive fervour has made the state exchequer richer by ₹1,257 crore. “Mumbai city embraced the auspicious festive period with a remarkable surge in property registrations, reflecting a heightened commitment to high-value investments. As the festive season continues, registration volumes are expected to remain robust, fuelled by favourable market conditions, including moderately increasing property prices and stable policy interest rates,” said Shishir Baijal, Chairman &amp; Managing Director, Knight Frank India. The surge was much expected due to a combination of factors like stable interest rates and the growing love for more spaces. Most experts have been betting on the real estate sector’s prospects this year. They also hope that 2023 as a whole will surpass 2022’s home sales. Moreso, the festive season is key for most developers because a large chunk of home sales take place during the period. “Approximately 40% of residential units sold annually close during the last quarter of the year. According to industry estimates, house sales in 2023 will likely be 20–30% higher than in 2022, given the current holiday season and the fact that sales are already approaching 2022 levels,” said Manju Yagnik, VC of Nahar Group. Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE also said that he expects the festive season sales to boost the momentum already seen through 2023. Developers too have been offering schemes and incentives to lure in buyers, especially first-time buyers. “As the residential cycle matures amidst inflationary pressures, we have witnessed increasing demand in the mid-end and premium categories. Conversely, the premium and luxury segment is expected to emerge as a sought-after investment avenue, particularly for HNIs and NRIs seeking to safeguard their investments amid global macroeconomic uncertainties,” said Magazine.

Mumbai property registrations jump 30% during festive season compared to last year

A couple of days back, <keyword id="20399945" type="General" weightage="20" keywordseo="Coldplay" source="keywords" meta.keywordsubtype="org" meta.entityname="Coldplay" meta.hostid="261" meta.entityid="Coldplay">Coldplay</keyword> had announced its dates for its concert in Mumbai. The iconic band would be performing in Mumbai on January 18 and 19 and tickets for the same went on sale at 12 pm today. Just as the tickets went for sale, Coldplay's site collapsed. Social media is full of posts by Coldplay fans. While some managed to get the tickets, others were left disheartened. If you didn't get a chance to book tickets at 12 today, there might be hope. The band has announced another concert date and will also be performing in Mumbai on January 21. Read on to know how you can book tickets, event timings, and all you need to know. <h2>Coldplay new concert date announced</h2><keyword id="20215809" type="General" weightage="20" keywordseo="BookMyShow" source="keywords" meta.keywordsubtype="org" meta.entityname="BookMyShow" meta.hostid="261" meta.entityid="BookMyShow">BookMyShow</keyword>, in a tweet on X, announced the new date of the Coldplay concert. Apart from Jan 18 and Jan 19 2025, the band will also be performing on January 21. "NEW SHOW HAS BEEN ADDED FOR 21 JAN 2025!! 1. Head on to the event page on #BookMyShow and hit the 'Book Now' button at 1.30 PM IST 2. You will be added to the waiting room 3. You will be assigned a queue number at 2 PM IST 4. Ticket sales go live at 2 PM IST sharp," the post by the platform reads. <div type="image" title="coldplay" msid="113568148" hostid="261"></div> <h2>How to book Coldplay <keyword id="20361986" type="General" weightage="20" keywordseo="Mumbai-concert" source="keywords">Mumbai concert</keyword> tickets </h2>To book tickets for the Coldplay concert in Mumbai, you can head over to BookMyShow and log in with your account. You will then see the large banner teasing the Coldplay concert. Click on the banner and await further instructions. As soon as you click on the banner, you will be added to the queue showing how many people are ahead of you. Do not refresh this page or click on back. Keep it open and you will see updates. When it is your turn to book tickets, you will have a window of 4 minutes to select tickets and make payment. It is advisable to keep your credit/debit card handy to be able to complete the payment process quickly. Also, if the website crashes, try opening Incongnito mode and logging in. At times, this trick proves to be successful for booking tickets. This show is part of Coldplay's highly successful Music of the Spheres World Tour, which has captivated audiences worldwide. The band, featuring lead vocalist <keyword id="20494335" type="General" weightage="20" keywordseo="chris-martin" source="keywords">Chris Martin</keyword>, guitarist Jonny Buckland, bassist Guy Berryman, and drummer Will Champion, last performed in India in 2016 at the Global Citizen Festival in Mumbai. According to BookMyShow, fans can look forward to hearing new tracks like We Pray and Feels Like Falling in Love from their upcoming album Moon Music. The setlist will also include iconic hits such as Yellow, The Scientist, Clocks, Fix You, Viva La Vida, Paradise, A Sky Full of Stars, and Adventure of a Lifetime.

Coldplay announces new show in Mumbai on January 21: How to book tickets, timings, and all you need to know

<ul><li>The festive season will give a further fillip to the real estate sector that’s been on an upswing all year, say experts.</li><li>Most developers expect this year’s festive sales to be anywhere between 10-20% higher than last year.</li><li>More large-sized projects were launched by developers to gain from the festive mood. </li></ul>Indian real estate players are witnessing bumper festive season sales, with new launches, offers and more. The auspicious festive season generally sees almost a quarter of annual home sales. And, it seems to have gotten off to a good start. According to <keyword id="6363605" type="General" weightage="20" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>, the property registrations in the first nine days of Navratri were 37% higher than the last year in Mumbai with 4,594 registrations. Experts expect all the top seven metro cities to see a strong sales growth in the season that extends through mid-October to mid-December. The consumer sentiment has already been strong this year. The first nine months of 2023, home sales touched 91% of 2022 annual sales across the top seven cities. This is the highest it has been since 2008, according to JLL. “With sales volumes holding strong so far this year, moderately increasing property price and stable policy interest rate would serve as the key catalysts for the housing market for the remainder of this year,” said Shishir Baijal, CMD of Knight Frank India. Developers already witnessing a surge Real estate developers have been looking forward to the festive season to hit top gear in sales. Ramani Sastri, CMD of Sterling Developers said that they are expecting a significant growth this year. “As we approach the festive season, we are already witnessing a surge in inquiries and we are expecting around 20% growth compared to last year’s festive season,” he added. Lincoln Bennet Rodrigues, chairman &amp; founder of The Bennet &amp; Bernard Company said that there is an over 8-10% increase in the number of properties being purchased or booked. “During this time of the year, 30-40% of our annual sales occur. Needless to say, as a developer, we are looking forward to the upcoming festive days,” he added. To gain from the sentiment, developers have stepped up on new launches too. As per Anarock Research, as many as 711 residential projects comprising approximately 1.16 lakh units were launched across the top seven cities in Q3 2023. In the same period last year, 701 projects were launched comprising 93,290 units. “While the difference between the number of projects launched in both the periods was not very significant, the number of units launched in Q3 2023 was at least 24% more than Q3 2022. Thus, the underlying trend is that this year in Q3 2023, many large-size projects were launched,” Anuj Puri, chairman of Anarock Group told Business Insider India. More launches with schemes The festive quarter is expected to see even more launches. Last year, during the festive quarter of October to December (Q4 2022) as many as 93,000 units were launched across the top seven cities. “This year, we may see at least 10-15% yearly growth which means it will again be above one lakh units,” said Puri. Most developers are also sweetening the pot with schemes, incentives and discounting to push more sales for the festivals. “These promotional offers encompass free <keyword id="666493" type="General" weightage="20" keywordseo="modular-kitchens" source="Orion">modular kitchens</keyword>, furniture, flexible payment plans, GST and stamp duty waivers, as well as giveaways like gold coins, cars, and even international trips,” says Swapnil Anil, executive director &amp; head of advisory at Colliers India. Banks too are upping their ante with Low EMI Schemes, Fixed EMI Schemes, and Attractive Interest Rates and more say experts. The real estate sector has been on an upswing since the pandemic and festive period has re-energised it, with people willing to buy or upgrade their homes. Unlike other sectors, where the post-pandemic boom effects are fading away, the property market is only going from strength to strength. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

With large project launches and offers, realty players get set for a bumper festive season

New Delhi, <keyword id="6357096" type="General" weightage="20" keywordseo="mahindra-mahindra" source="Orion">Mahindra &amp; Mahindra</keyword> on Friday said its total wholesales increased by 21 per cent year on year to 70,576 units in November. The Mumbai-based automaker had dispatched 58,303 units in November 2022. Utility vehicle dispatches stood at 39,981 units last month, an increase of 32 per cent over 30,238 units in the year-ago period, <keyword id="45224" type="General" weightage="20" keywordseo="mahindra" source="Orion">Mahindra</keyword> &amp; Mahindra (M&amp;M) said in a statement. Exports, however, declined 42 per cent last month to 1,816 units as compared to 3,122 units in November 2022. "We continue our growth trend, backed by strong demand for our SUV portfolio...While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges," M&amp;M President Automotive Division Veejay Nakra said. M&amp;M said its tractor wholesales stood at 32,074 units in November as compared to 30,528 units in the year-ago period. Exports, however, declined to 1,005 units last month from 1,348 units in November 2022. "The festive season saw high demand pull in the domestic market, supported by Kharif harvest realisations, with retails being strong during Dhanteras and Diwali," M&amp;M President-Farm Equipment Sector Hemant Sikka said. Terms of trade continue to be favourable for farmers, while rural spending by the government and progress in rabi sowing are the factors to watch out for, he added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-december-2023/slidelist/105645843.cms">From Tata Punch EV to Lamborghini Revuelto, cars set to launch in India in December</a> <a href="https://www.businessinsider.in/business/auto/news/car-and-suv-prices-set-to-rise-in-january-2024-should-you-buy-one-in-december/articleshow/105556415.cms">Car prices set to rise in January – Should you buy one in December?</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-surges-to-4-5-million-devices-in-q3-2023/articleshow/105285251.cms">India’s PC market shipments surge in Q3 amidst import restrictions talks</a>

Mahindra sales rise 21% to 70,576 units in November

<ul><li>Inflation has been eating into the purchasing power of lower and middle income groups with many essentials’ sales falling.</li><li>Majority of the upper and upper middle class respondents saw their household incomes go up more than inflation.</li><li>There is a dichotomy seen in online festive sales too as premium products are bought with discounts and purchase options say experts. </li></ul>There are two Indias within the great sub-continent. One where the day-breaking drink of tea has become dearer for many this year and the other half is doubling down on wine purchases. Neither of them are affected by the base effect of last year. <keyword id="2653343" type="General" weightage="20" keywordseo="tea-sales" source="Orion">Tea sales</keyword> were down last year too, and <keyword id="806378" type="General" weightage="20" keywordseo="wine-sales" source="Orion">wine sales</keyword> were up — darkening the ‘K’ line on economic recovery charts. Madan Sabnavis, the chief economist of Bank of Baroda calls it a schizophrenic pattern of consumption. “Sales are doing better in categories where price does not matter,” he tells Business Insider India. <div type="image" title="grocery demand" msid="104810160" hostid="261" caption="&amp;lt;p&amp;gt;Source: Pixabay &amp;lt;/p&amp;gt;"></div> It’s discretion not price The categories of goods where price matters are seeing low growth in output – a reflection of demand. Some of the casualties are detergent powders, groundnut oils, shampoos and hair dyes. Their output fell between April to August 2023, compared to the year before, as per BoB economics research. Inflation has a more indirect effect on these purchases. For example, tea and shampoo saw moderate inflation but their demand fell. Inflation was high in coffee, toothpaste and soaps but their demand grew. “The generalized inflation factor has been at work where real income has come down thus leading to lower purchasing power,” said BoB. In a survey conducted by UBS, about 46% of respondents said that they’re buying less personal care and packaged food compared to last year. For purchase of home care products, the respondents were largely neutral versus last year, it added. India’s largest FMCG player Hindustan Unilever with a large presence across rural and urban India has seen a direct impact of it in the quarter that ended in September 2023. Its overall urban volumes grew 3% and rural volumes fell 1%. “Rural recovery is likely to remain gradual,” the company said in its investor presentation indicating that the situation might not see any dramatic recovery in the coming months. Rural India saw reverse migration during the pandemic, but not all of them have gone back, opines Sabnavis. A chunk of downtrading is also being seen in urban areas amongst income groups that are facing the heat of inflation, experts add. At the other end This is, however, only one half of the story. At the other end, many Indians are not blinking while making discretionary purchases. A majority of the upper and middle class respondents – 65% – surveyed by UBS, saw their household incomes go up more than inflation. “The top 20% of the population account for the bulk of discretionary consumption. The survey results support our view that affluent consumers‘ income levels are holding up, as reflected in corporate wage growth that continues at double digits,” said UBS. Lalit Jhawar, co-founder and CEO, LandCraft Retail says that high-end gourmet products in urban areas have been steadily increasing over the last few years. He owns a luxury gourmet retails store- Food Square in Mumbai, which sells cheeses, truffles, caviar, artisanal breads and all the other international food items. “Affluence in urban areas has grown, resulting in a larger number of consumers with higher discretionary income,” Jhawar tells Business Insider India. Online sales: A story of dichotomy Another sign of higher spending is seen in the e-commerce festival sales. The first week of the many festival discount sales saw ₹47,000 crore worth of goods being sold, which is 19% higher than last year, says Redseer Consulting. Online sales, which now sees a good measure of metro and demand from Tier 2 and Tier 3 cities, is showing a dichotomy as well, say experts. “Two Indias have come into play where one India is saving up and waiting for prices to come down to clinch a good deal on premium products. On the other hand, there are low-value product sales i.e value-for-money purchases that are being bought more frequently,” said Abhishek Tandon, engagement manager at Redseer Strategy Consultants. The sale season, which is manna for bargain hunters, is also enthused by the number of Buy Now Pay Later and EMI options. “When it comes to big ticket purchases, premiumization is bolstered by financing options and discounts that make it affordable,” adds Tandon. In the pre-festive period between April and August,however, most consumer durable sales were in a negative zone, due to the high-base effect of last year, says Bank of Baroda’s report. Refrigerators, mobiles, readymade garments all showed a negative output – also indicating that discounts play a large role in discretionary purchases. Indian consumers have always been complicated and price has always played a big role in purchase decisions, choice of brands and more. But it’s no longer a linear story. One end of the market, driven by affluence, is veering towards premium purchases. The other end is looking for ways to survive with less in hand as inflation is eating into their purchasing power. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

Wine vs Tea: India’s consumption trends show a sharp divergence

New Delhi, <keyword id="19156935" type="General" weightage="20" keywordseo="Sales-of-Apartments" source="Orion">Sales of apartments</keyword> during the January-September period went up 21 per cent year-on-year to 1,96,227 units across seven major cities on better demand, according to property consultant JLL India. As many as 1,61,575 units were sold in the same period last year. Sales of apartments in January-September period of this year have already touched 91 per cent of 2022 annual sales. "With the onset of the festive season, robust sales are expected in the upcoming quarter and as a result, annual sales in 2023 are expected to surpass sales of 215,000 units recorded in the previous year," JLL India said in a statement on Monday. Across seven major cities, new launches of apartments also rose 21 per cent to 2,23,905 units during the first nine months of 2023 from 1,84,317 units in the year-ago period. The seven cities tracked were Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai. JLL said the data includes only apartments and row houses, villas, and plotted developments are excluded from this analysis. "The prominent launches by branded developers saw good sales traction across all seven cities. Also, the consecutive fourth pause in policy rate by the RBI will have a positive impact on residential sales as financial institutions will maintain the home loan interest rates at the present levels," said Siva Krishnan, head, residential, India, JLL.

Sales of apartments in Jan-Sep up 21% to 1,96 lakh units in top 7 cities: JLL

<ul><li><keyword id="6361772" type="General" weightage="50" keywordseo="mumbai-metropolitan-region" source="Orion">Mumbai metropolitan region</keyword> recorded the highest sales of 26,400 units, followed by <keyword id="53426" type="General" weightage="80" keywordseo="ncr" source="Orion">NCR</keyword> at t14,970 units. </li><li>Mumbai, <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, <keyword id="2094" type="General" weightage="80" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru accounted for highest new property additions. </li><li>Based on price range, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh). </li></ul>Real estate sales across India’s top seven markets have recorded a quarterly growth of 4% during September quarter, boosted by an improvement in homeownership sentiment post pandemic, according to real estate services firm <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword>. On a year-on-year basis, this growth surged 41%. Overall, 88,230 units were sold in the quarter against 84,930 units in the preceding quarter and 62,800 units in Q3 2021. “The appetite for homeownership has remained undeterred, with maximum sales being driven by end users. There has been increased new supply by the leading and listed developers, who also reported robust housing sales. This trend will very likely continue in the upcoming festive quarter as well since homeownership sentiment has increased hugely post the pandemic,” <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman, <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">Anarock Group</keyword>, said. Mumbai Metropolitan Region (<keyword id="6381620" type="General" weightage="80" keywordseo="mmr" source="Orion">MMR</keyword>) sold the most units – at 26,400 – among the top seven cities, registering a year-on-year growth of 26%. While Delhi sold fewer units at 14,970 as compared to MMR, in percentage terms its sales went up 46% annually. Pune registered a quarterly sales growth at 3% and annually, its growth stood at 45%. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 90% of the sales for the quarter. The sales in Chennai and Kolkata made up 10% of the total sales. Residential property prices across these top seven cities registered a quarterly increase in the range of 1-2% in Q3 2022. On an annual basis, prices have risen in the range of 4-7% primarily due to an increase in input costs and demand comeback post Covid, Anarock said. Mumbai, Hyderabad top new unit additions MMR is also on the top when it comes to new properties. The region added 36,000 new units in the quarter and overtook Hyderabad – the city which ranks second in terms of new additions – by a large margin. Hyderabad added 15,530 units during the quarter, while in NCR, it was much lower at 6,400 units. MMR, Hyderabad, Pune and Bengaluru together accounted for 86% of the total new property additions, says Anarock. As many as 93,500 new units were launched across the top seven cities, against 82,100 units in the preceding quarter — registering a 14% growth. On a yearly basis, there was a 45% jump of new real estate property launched. In Q3 2021, 64,560 units were launched in the top seven cities across the country. Analysing based on price segments, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh), 28% in the premium segment (₹80 lakh-₹1.5 cr); 18% each in the luxury and affordable segments. The impact of <a href="https://www.businessinsider.in/business/news/here-is-how-much-your-emi-will-go-up-after-the-recent-repo-rate-hike/articleshow/94552904.cms">increasing</a> interest rates on home loans, however, is yet to be seen. “However, if inflation remains at elevated levels forcing RBI to aggressively increase interest rates, there might be some turbulence in the market,” Puri said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-corporate-credit-quality-remains-strong-in-h1-of-fy23-crisil/articleshow/94613479.cms">Indian corporate credit quality remains strong in H1 of FY23: CRISIL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/jiobook-a-4g-enabled-budget-laptop-is-expected-to-launch-soon-at-15000/articleshow/94613338.cms">JioBook, a 4G-enabled budget laptop is expected to launch soon at ₹15,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/durga-puja-in-wb-is-a-grand-economic-activity-estimated-to-generate-40000-crore-transactions-3-lakh-jobs/articleshow/94613128.cms">Durga Puja in WB is a grand economic activity - estimated to generate ₹40,000 crore transactions, 3 lakh jobs</a>

Mumbai tops real estate sales and new launches in September quarter

<ul><li><keyword id="413856" type="General" weightage="20" keywordseo="kalyan-jewellers" source="Orion">Kalyan Jewellers</keyword> India has recorded a profit after tax (PAT) of ₹108 crore in Q1FY23.</li><li>The company has witnessed momentum in footfalls and revenue across India and Middle East markets.</li><li>Kalyan aims to increase its retail footprint in India by another 8%, before Diwali this year.</li></ul>Hefty import duties and gold price volatility did not take the shine off Kalyan Jewellers, as it reported a net profit of ₹108 crore in the April-June quarter. In the same period last year, it reported a loss of ₹51 crore. Its consolidated revenues stood at ₹3,333 crore almost doubling from ₹1,637 crore reported in the same quarter last year. “The recently concluded quarter has been a positive one for Kalyan Jewellers, having witnessed robust momentum in both footfalls and revenue across India and Middle East markets. Revenue momentum in the current quarter has remained encouraging, thus far, and we are keenly looking forward to the upcoming <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>,” said Ramesh Kalyanaraman, ED, Kalyan Jewellers India. In the Middle East, which contributes around 17% to its overall business, the jewellers’ total revenue from operations went up by 69% to ₹574 crore in Q1 as against ₹340 crore last year. The jewellers’ stock surged by 5.87% in today’s trade, as per NSE. Increasing its footprint Kalyan Jewellers, which launched its first franchised showroom in Q1, aims to increase its retail footprint in India by another 8%, before Diwali this year. This new line up is planned in the non-South markets. It will also focus on scaling up operations within micro markets of tier-1 cities like Delhi and Mumbai, while aggressively expanding its presence in tier-2 and tier-3 markets. “We have built a meaningful pipeline of additional franchise showrooms on the back of very encouraging responses from potential franchise partners, and we are on track with our expansion plans for the current financial year. We believe the successful launch of the first set of franchised showrooms will give us the confidence to further enhance the pace of expansion through this significantly more capital efficient and return accretive path,” said Kalyanaraman. As of June 30, 2022, Kalyan Jewellers' store network across India and the Middle East stood at 158.

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