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New Delhi, <keyword id="45432" type="General" weightage="20" keywordseo="Godrej-Properties" source="Orion">Godrej Properties</keyword>' net debt rose 45 per cent during April-June period of this fiscal to Rs 5,298 crore from the previous quarter on aggressive land purchase across major cities. According to an investor presentation, net debt of Godrej Properties -- the real estate arm of business conglomerate Godrej Group -- stood at Rs 5,298 crore as on June 30, 2023 as against Rs 3,649 crore at March-end. Debt-equity ratio stands at 0.56. Since April last year, Godrej Properties has been aggressive in new business development under which the company is purchasing land outright and also entering into joint development agreements (JDAs) wth land owners to create a pipeline for future development. It focuses on Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. Enthused by strong housing demand, the company acquired 18 land parcels last fiscal year for development of new projects with an estimated sales potential of Rs 32,000 crore. It purchased four new land parcels with an estimated saleable area of 3.7 million square feet and expected booking value of Rs 6,450 crore between April-July period of this fiscal. Replying to a query whether the debt will increase further, Gordrej Properties Executive Chairman Pirojsha Godrej said, "I think you will see some increase...given the business development over the next couple of quarters." "But we think thereafter next year, we think the calendar 2024 is when there's a lot of these project launches happening...we expect very strong positive operating cash flows," he added. Earlier this month, Pirojsha had said the company's sales performance remained muted in April-June, but the company will meet the annual target to sell properties worth Rs 14,000 crore this fiscal. Godrej Properties' sale bookings fell 11 per cent year-on-year during the first quarter of 2023-24 to Rs 2,254 crore. "In terms of sale bookings, April-June was a weak quarter for us. But in deliveries, it was strong as we did nearly 5 million square feet area. Our annual guidance for deliveries is 12.5 million square feet," he had said in an interview. He exuded confidence that the company will achieve "healthy growth" in sale bookings during the remaining three quarters. Pirojsha said the company would achieve or even better the annual sales guidance of Rs 14,000 crore in 2023-24 against Rs 12,232 crore in the previous fiscal. Godrej Properties launched very few residential projects during the first quarter of 2023-24 and the bulk of bookings came from the ongoing projects. The pipeline of new launches is "very strong", he had said. On the financial performance front, the company recently reported a nearly three-fold jump in consolidated net profit to Rs 124.94 crore for the first quarter as against Rs 45.55 crore in the year-ago period. Total income rose to Rs 1,265.98 crore in April-June 2023-24 from Rs 426.40 crore in the corresponding period of the previous year.

Godrej Properties' Q1 net debt up 45% to Rs 5,298 cr from March-end; may rise further

<ul><li>In constant currency terms, <keyword id="13843427" type="General" weightage="20" keywordseo="ltimindtree" source="Orion">LTIMindtree</keyword> posted revenue growth of 8.2% YoY for the June quarter. </li><li>The order inflow continued to increase and reached $1.41 billion in this quarter. </li><li>“Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," said Debashis Chatterjee, CEO and MD. </li></ul> Technology consulting and digital solutions company LTIMindtree posted a 4.1% year-on-year rise in net profit to ₹1,152 crore for the first quarter ended June 30. Revenue rose 13.8% to ₹8,702 crore for the period. In constant currency terms, the company’s revenue rose 8.2% YoY for the June quarter. On a quarter-on-quarter basis, however, this revenue was almost flat at 0.1% growth. “Our key verticals BFSI (banking, financial services and insurance), Manufacturing &amp; Resources and Hi-Tech, Media, and Entertainment, which make up 75% of our revenues performed well,” said Debashis Chatterjee, chief executive officer and managing director. “Our strategic programs are bearing fruit and is evident in the upward movement across our client buckets. The order inflow continued to increase and reached $1.41 billion in this quarter,” he added. The company has 723 active clients as of June 30, 2023. During the quarter, $5 million+ clients increased by 18 on a YoY basis, while $10 million+ clients increased by 9 and $50 million+ clients increased by 3. “Our operational rigor helped us achieve an EBIT of 16.7% and PAT of 13.2%," Chatterjee added. EBIT is earnings before interest and taxes, while PAT refers to profit after tax. At the end of the quarter, the company had 82,738 professionals with the trailing 12 month attrition at 17.8%. Among the deals won during the quarter are a deal from one of the largest property &amp; casualty insurance companies in the United States, which has chosen LTIMindtree as a strategic partner for a multi-year application development and maintenance deal. Shares of the company were trading 2.5% lower at ₹5,006 in morning trade on the NSE. Meanwhile, the Nifty50 was up 0.45%.

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

<ul><li>FMCG companies are expected to register strong margins in Q1 as they will see the full effect of earlier-taken price hikes playing out. Cooling raw material prices will help. </li><li>Demand for staples have been stable, but the beauty and personal care category has not yet recovered fully. </li><li>The summer has seen a decline or low growth in ice creams and juices due to unseasonal rains. </li></ul>With cooling raw material costs, the FMCG sector is expected to kick in the first quarter of FY24 with ‘good quality’ profits, backed by improvement in margins. Input costs have been cooling over the last few quarters and have either remained stable or seen mild moderation, and companies have not been passing them off very generously in the form of price cuts. “We expect most of the companies to register stronger sequential gross profit margin (GPM) improvement in 1Q24F with input cost inflation cooling down further, high-priced inventory getting consumed and the full effect of earlier-taken price hikes playing out,” said a research report by Nomura. Certain categories such as hair oils, edible oils and soaps had witnessed price cuts in earlier quarters, which will flow through in the first quarter, as per BNP Paribas. Also, new price cuts and promotions were seen in laundry, edible oils and other home care categories during the quarter but no major price cuts were seen in biscuits and salts. Double digit revenue growth expected Price cuts and volume growth for the sector are directly proportional for the sector, and as of now most of growth seen in the sector was pricing-led. But that’s changing, analysts say. Demand from urban areas has been stable, with slight sequential improvement in rural demand as well. Also, the demand for staples have been stable, but the beauty and personal care category has not yet recovered though improving due to the price cuts. All in all, the sector should be able to present a good revenue growth for the quarter – notwithstanding the cooler summer this April-June with unseasonal rains that affected sales of juices and ice creams. “We estimate staples/discretionary (ex-ITC) pack to register 10.2%/8.8% revenue growth. We expect a good quarter from Nestle, Godrej Consumers and ITC and a weak print from Marico,” says a report by Kotak. Antique Stock Broking also expects the FMCG sector (not including ITC) to report early double digit revenue growth with moderation in pricing led growth. ITC is expected to see a fall in revenue as its agri business is expected to see a drop due to high-base effects. Nomura expects Nestle, Tata Consumers and Dabur to report the highest revenue growth YoY, and with ITC and Marico to post lower value growth. FMCG sector revenue growth projections YoY <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Antique Stock Broking </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 9.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6%* </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Research reports *Kotak has considered standalone results for ITC Price cuts &amp; rising competition The street will closely watch management commentary on pricing, as analysts believe that the sector is poised for a good show in the first half of FY24 with a raw material cost tailwind. “However, in the second half of FY24 we expect revenue growth to moderate as pricing benefits should fade and growth would have to be volume-led,” said a report by BNP Paribas. There has been no aggressive price war as of now in the sector as of now, but if price cuts are not taken by large players in the segment, it might lead to unorganized players gaining market share. In the last one year, many consumers have ‘downtraded’ to unbranded products or local brands during periods of high inflation. “Prices of most stock keeping units (SKUs) have increased sharply over the last two years. Soap and detergent prices have risen 40-50% over that period. So far the price cuts have been limited and largely confined to the value segment. We believe price cuts might be needed to drive volumes,” said BNP Paribas. Without pricing strategies laid out, most FMCG players might see revenue growth challenges re-emerge this year, especially in the second half. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/it-companies-like-tcs-infosys-wipro-hcl-tech-q1-2023-24-earnings-preview/articleshow/101482733.cms">IT sector Q1 earnings preview: All eyes on deal wins, revenue guidance cuts</a> <a href="https://www.businessinsider.in/thelife/news/want-your-veggies-to-taste-like-chocolate-a-vr-glass-may-help-trick-your-mind/articleshow/101487079.cms">Want your veggies to taste like chocolate? A VR glass may help trick your mind</a>

FMCG sector Q1 preview — Caught between price cuts and volume growth

<ul><li>In Q2 2023, Kolkata saw the highest housing <keyword id="2345162" type="General" weightage="20" keywordseo="price-surge" source="Orion">price surge</keyword> annually among the top eight Indian cities at 15%. </li><li>The upcoming <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> will help in further boosting the sales and sustain the momentum through the start of 2024.</li><li>Delhi NCR's unsold inventory decreased by 7% when compared to the same period in the last fiscal. </li></ul><keyword id="35281" type="General" weightage="20" keywordseo="residential-property" source="Orion">Residential property</keyword> rates in the leading eight urban centres of India surged by 7% year-on-year (Y-o-Y) driven by strong demand for housing supported by ongoing favourable attitudes among <keyword id="185169" type="General" weightage="20" keywordseo="homebuyers" source="Orion">homebuyers</keyword> and consistent interest rates, according to a report by Colliers, CREDAI and Liases Foras. The report also revealed that the city of joy, Kolkata, saw the biggest spike in the compared period. With a consistent aspiration for owning homes and stable interest rates, along with an increase in disposable incomes, the demand for housing is set to steadily expand, even in the face of global economic challenges. Given the rising desire for larger <keyword id="525790" type="General" weightage="20" keywordseo="living-spaces" source="Orion">living spaces</keyword>, <keyword id="6357020" type="General" weightage="20" keywordseo="developers" source="Orion">developers</keyword> persist in launching upscale projects, resulting in an upward trend in housing prices for properties still under construction in cities like Kolkata, Hyderabad, Delhi NCR, and Bengaluru. Says Boman Irani, President of CREDAI National , “We’re witnessing record breaking numbers due to the pent-up demand from covid and despite the price rise, we expect this trend to continue for the rest of the fiscal year – on the back of a relatively stabilised repo rate and lending ecosystem. Additionally, the upcoming festive season will help in further boosting the sales and sustain the momentum through the start of 2024.” <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average Price Q2 2023(₹/sq ft) </td><td colspan="2" style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">QoQ Change </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Y-o-Y Change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ahmedabad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,507 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,688 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,653 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi NCR </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,652 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,530 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,315 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">MMR </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,111 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,540 </td><td style="border-left:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Liases Foras, Colliers All the prices are based on carpet area <cmsannotation type="cmsannotation" annotationid="Kolkata sees the highest price rise" comment="subhead" text="Kolkata sees the highest price rise">Kolkata sees the highest price rise</cmsannotation> In Q2 2023, Kolkata saw the highest housing price surge among the top eight Indian cities at 15% when compared to the same period last financial year, continuing a seven-quarter upward trend. This rise is due to increased demand, driven by government incentives like a 2% stamp duty reduction and a 10% lower circle rate extension until September 2023. In the same quarter, Delhi NCR followed closely with a 14% Y-o-Y increase. Notably, Golf Course Road and Dwarka Expressway witnessed remarkable price rises at 46% and 40% respectively. Golf Course Road's prices outpacing Delhi's in Q2 2023 can be attributed to improved connectivity and proximity to Gurugram's commercial hubs, spurring higher demand for homes. <cmsannotation type="cmsannotation" annotationid="Delhi NCR the only city where unsold inventory drops" comment="subhead" text="Delhi NCR the only city where unsold inventory drops">Delhi NCR the only city where unsold inventory drops</cmsannotation> Delhi NCR's unsold inventory decreased by 7% Y-o-Y, making it the sole city across India to experience such a decline, showcasing sustained healthy market dynamics. This trend of decreasing unsold inventory has continued for the last two quarters in Delhi NCR, indicating positive consumer buying sentiment. Conversely, driven by a surge in new project launches, especially in the Northwest suburb of Ahmedabad and the Southwest micro market in Hyderabad, both cities saw a rise in unsold inventory by 26% and 24% respectively Y-o-Y. Despite this increase, housing prices in both cities have consistently shown an upward trajectory over the past few quarters.

Housing prices surge 7% across top eight metros; Kolkata the unlikely topper

New Delhi, Feb 3 () Shares of realty firm Godrej Properties Ltd on Monday jumped over 8 per cent after the company reported a 9 per cent increase in consolidated net profit for the quarter ended December.
 The scrip climbed 8.29 per cent to close at Rs 1,071.30 on the BSE. During the day, it zoomed 9.74 per cent to Rs 1,085.70.
 On the NSE, it zoomed 7.88 per cent to close at Rs 1,067.95.
 Godrej Properties on Monday reported a 9 per cent increase in consolidated net profit at Rs 45.46 crore for the quarter ended December on higher income.
 Its net profit stood at Rs 41.63 crore in the year-ago period.
 Total income rose to Rs 517.47 crore in the third quarter of this fiscal as compared to Rs 430.7 crore in the corresponding period of the previous year, the company said in a regulatory filing. SUM SHW
SHW

Godrej Properties shares zoom over 8 pc after Q3 earnings

New Delhi, Feb 3 () Realty firm Godrej Properties on Monday reported a 9.2 per cent increase in its consolidated net profit at 45.49 crore for the quarter ended December 31, 2019.
 The company had posted consolidated net profit (after tax) of Rs 41.63 crore in the year-ago period, Godrej Properties said in a regulatory filing.
 The consolidated income of the company during October-December quarter increased to Rs 517.47 crore, over Rs 430.70 crore in the year-ago period.
 Shares of Godrej Properties were trading at Rs 1,068 a piece on BSE, up 7.96 per cent from the previous close. SID DRR

Godrej Properties Q3 net up 9 pc at Rs 45 cr

<ul><li><keyword id="168456" type="CITY" weightage="20" keywordseo="WPP">WPP</keyword> reported revenue 9.8% growth in H1, LFL revenue up by 16.1% (Q2 26.4%)</li><li>Shifting business mix: growth areas of experience, commerce and technology represented 26% of revenue less pass-through costs in H1.</li><li>Q2 LFL revenue less pass-through costs on 2019 1.3%: US 1.8%, UK 1.1%, Germany 6.3%, Greater China -1.7%, Australia -13.6%, India -2.6%.</li></ul>WPP released its H1 2021 performance today. It said that it has returned to 2019 levels a year ahead of plan. On the other hand, after registering a 16.3% fall in LFL revenue less pass-through costs in India Q3, WPP's India market is now at -2.6%. H1 and Q2 financial highlights <ul><li>H1 reported revenue 9.8%, LFL revenue 16.1% (Q2 26.4%)</li><li>H1 revenue less pass-through costs 5.0%, LFL revenue less pass-through costs 11.0% (up 0.5% on H1 2019)</li><li>Q2 LFL revenue less pass-through costs 19.3%: US 12.6%, UK 31.8%, Germany 20.3%, Greater China 1.4%, Australia 8.4%, India 30.0%</li><li>Q2 LFL revenue less pass-through costs on 2019 1.3%: US 1.8%, UK 1.1%, Germany 6.3%, Greater China -1.7%, Australia -13.6%, India -2.6%</li><li>Strong new business performance: $2.9 billion net new billings in H1</li><li>H1 headline operating margin 12.1%, up 3.9 pt on prior year with strong top-line growth supporting significant reinvestment in incentives</li><li>H1 headline operating margin pre incentives up 7.8 pt to 17.0%</li><li>Net debt at 30 June 2021 £1.5 billion, down £1.2 billion year-on-year reflecting good working capital management</li></ul>Strategic progress, shareholder returns and outlook <ul><li>Shifting business mix: growth areas of experience, commerce and technology represented 26% of revenue less pass-through costs in H1</li><li>Launch of Choreograph, future-ready data and analytics company</li><li>M&amp;A to simplify and grow: buy-in of WPP AUNZ minorities; technology acquisitions in Brazil and UK; Kantar agreed to acquire Numerator</li><li>Continued recognition of creativity and effectiveness: most creative company at Cannes, collecting 190 Lions including 12 Grand Prix, 1 Titanium, 28 Gold, 57 Silver and 92 Bronze</li><li>Industry-leading commitment to net zero carbon emissions across entire supply chain by 2030</li><li>£248m share buyback in H1, £350m planned for H2; 12.5p 2021 interim dividend declared, +25%</li><li>Full year 2021 LFL revenue less pass-through costs growth now expected to be 9-10%; headline operating margin towards the upper end of the 13.5-14.0% range</li></ul>Mark Read, Chief Executive Officer, WPP: “I’m delighted with our performance in the first six months of the year, at a time when COVID continues to take a toll on many countries. The like-for-like revenue less pass-through costs growth rate of 19.3% in the second quarter is our highest on record, as clients reinvest in marketing, particularly in digital media, ecommerce and marketing technology. We have returned to 2019 levels in 2021, a year ahead of our plan, with good momentum into 2022. We’ve also made very good strategic progress. Our recognition as the most awarded company at the 2021 Cannes Lions Festival reflects our investment in creative talent and the strength of our creative work over the past two years. Our focus on data, commerce and technology, through strategic acquisitions, organic investments and the launch of Choreograph, has supported a strong new business performance. Key assignment wins include AstraZeneca, Bumble, JP Morgan Chase and Pernod Ricard. In procurement, property and shared services, we are making strong progress as part of our overall transformation programme. We have significantly increased our incentive pools in the first half, to reflect the tremendous contribution of our people in these challenging times, and in line with our intention to reinvest in talent announced at our Capital Markets Day in December 2020. We expect our strategy to translate into benefits for all of our stakeholders: a powerful, modern offer to support our clients’ growth; a great place for our people to work; a positive contribution to communities and the environment; and good financial returns for shareholders, with the interim dividend raised 25% and £600 million of share buybacks planned in 2021.”

With 9.8% growth in H1 2021 revenues, WPP says it has returned to 2019 levels a year ahead of plan

New Delhi, Feb 13 () Godrej Industries Ltd on Thursday reported a consolidated net profit of Rs 216.32 crore in the third quarter ended December 31, 2019. The company, which announced reappointment of Nadir Godrej as its managing director for a period of three years, had posted a consolidated net profit of Rs 156.42 crore in the year-ago quarter. Revenue from operations during the third quarter this fiscal stood at Rs 2,696.31 crore. It was Rs 2,417.58 crore in the same period a year ago. The company said during the previous year, one of its subsidiaries had acquired control of Godrej Tyson Foods Ltd and Godrej Maxximilk Pvt Ltd and they became subsidiaries with effect from March 27, 2019. Accordingly consolidated financial results of the current quarter and nine months ended December 31, 2019 include results of these acquired firms. Hence, the consolidated financial results of the current quarter and nine months ended December 31, 2019 are not comparable with the financial results of the corresponding previous periods, the company said. On Godrej's reappointment, the company said the Nomination and Remuneration Committee of the Board of Directors had recommended the proposal. The board approved the re-appointment of managing director of the company for a further period of three years commencing from April 1, 2020 upto March 31, 2023 subject to approval of the shareholders. Godrej Indistries also said its board has approved investment of up to Rs 5OO crore by way of subscription or purchase of securities or otherwise in Godrej Agrovet Ltd, its subsidiary company subject to shareholder approval. RKL SHWSHW

Godrej Industries Q3 net at Rs 216.32 cr

New Delhi, Feb 5 () Godrej Agrovet Ltd on Wednesday posted a consolidated net profit of Rs 51.15 crore for the third quarter ended December 2019. The company had clocked a net profit of Rs 48.56 crore in the year-ago period, according to the BSE filing. Its net income in the third quarter of 2019-20 stood at Rs 1,791.99 crore. It was Rs 1,458.96 crore in the year-ago quarter. Expenses stood at Rs 1,729.90 crore in the October-December 2019 period, against Rs 1,389.34 crore in the year-ago period. In its foot note in the BSE filing, Godrej Agrovet made it clear that the third quarter performance of this financial year cannot be compared with the year-ago period as it also includes the result of recently-acquired two companies which became subsidiaries effective from March 2019. The company has acquired Godrej Tyson Foods Ltd and Godrej Maxximilk Private Ltd. Godrej Agrovet's shares fell 0.09 per cent to settle at Rs 578.80 apiece on the BSE on Wednesday. LUX HRS

Godrej Agrovet posts Rs 51 cr net profit in Q3

New Delhi, Jan 29 () FMCG major Godrej Consumer Products Ltd (GCPL) on Wednesday reported a 5.11 per cent increase in consolidated net profit at Rs 445.20 crore in the third quarter ended December, helped by volume growth in domestic business.
 The company had posted a net profit of Rs 423.52 crore in October-December quarter a year ago, GCPL said in a BSE filing.
 Total income during the quarter under review stood at Rs 2,801.57 crore, 1.99 per cent lower as compared with Rs 2,746.65 crore in the year-ago period. 
 The company's total expenses rose 1.28 per cent to Rs 2,244.16 crore as against Rs 2,215.79 crore a year ago. 
 Commenting on the results, GCPL Executive Chairperson Nisaba Godrej said, "We delivered a steady performance in the third quarter of fiscal year 2020. Our India business delivered a robust volume growth of 7 per cent alongside gaining market shares across major categories, amid further deterioration in staples consumption."
 GCPL's India revenue rose 1.21 per cent to Rs 1,523.87 crore during October-December from Rs 1,505.64 crore in the corresponding quarter a year ago.
 The company's revenue from Indonesian market rose 13.32 per cent to Rs 448.22 crore as compared with Rs 395.51 crore in the year-ago period. 
 "In our international businesses, Indonesia continued its strong performance with high single digit profitable sales growth driven by a consistent performance across categories and several go-to-market initiatives," Godrej said.
 Africa (including Strength of Nature) sales were marginally lower at Rs 678.70 crore as against Rs 682.30 crore a year ago.
 "In GAUM (Godrej Africa, USA, Middle East), we saw a sales recovery with higher than mid-single digit constant currency sales growth. The performance was driven by an improved performance in our South and West Africa cluster," she said.
 "We continue to drive the scale up of the wet hair care business and the relaunch of the Darling brand in the dry hair category, along with expansion in distribution across GAUM," Godrej added.
 Revenue from other markets was 3.23 per cent lower at Rs 161.12 crore as against Rs 166.50 crore in October-December a year ago.
 The company also informed that its board has declared an interim dividend of Rs 2 per share for financial year 2019-20.
 Shares of Godrej Consumer Products Ltd on Wednesday closed 0.87 per cent higher at Rs 742.10 on the BSE. KRH RVK

Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

<ul><li>Summer is a peak season for appliances. However, this year was exceptional. </li><li>Swati Rathi, Head – Marketing, <keyword id="141771" type="COMPANY" weightage="20" keywordseo="Godrej-Appliances">Godrej Appliances</keyword> tells us how summer plays an important role for their business, challenges the brand faced during the nationwide lockdown period, its plan for unlocking 1.0, and a lot more. </li></ul>There are a few things that define summer for Indian markets. It is the period when you see ‘Chubhti Jalti’ jingle come back on television, Rooh Afza in retail stores and cartons of mangoes in your home. Summer also sees an increase in marketing spends by cold beverages, ice cream brands, masalas, sun screens, travel and electronics, as it is a peak period for their businesses. However, considering the complete shutdown of all store outlets, this summer was quite unusual for these categories. For Godrej Appliances, the first quarter of every year contributes to as much as a third of their annual revenue. While this quarter was challenging for the giant, it is hoping to revive its business in the upcoming months of unlocking. With the nationwide lockdown, Godrej Appliances soon realised complete digitalisation was the way to survive. It started empowering its trade partners to address all consumer queries online. So far, it has managed to reach out to 5,000 trade partners to explain to them the changing dynamics of industry, the consumer and how they need to prepare themselves. As a result, during the lockdown, Godrej Appliances resolved more than 15,000 service requests digitally. We caught up with Swati Rathi, Head – Marketing, Godrej Appliances to further understand their unlocking plan, how they have helped their employees cope up with the current situation of uncertainty, changing future of the retail industry and importance of adapting to the new digital world. Excerpts: Q. How has the last month been for you? How have you observed the consumer behaviour changing? From a business perspective, summer was largely a wipe out for appliance industry which derives a significant chunk of sales from cooling categories like ACs and Refrigerators. The 1st quarter contributes to as much as a third of the annual revenue for Godrej Appliances. With markets opening across albeit with various conditions June is expected to fare better returns. With the phase-wise lifting of the lockdown – there are countering forces at play. On one hand, consumers need to buy appliances for their comfort and effort reduction, while on the other hand, social distancing norms and overall pandemic fear is keeping people away from stores. There is also the added uncertainty around the lockdown withdrawal given that the scenario is dynamic. With subdued sentiments and an aversion to higher discretionary spends, a change in investment priorities among consumers is also expected. Buying behaviour both in terms of purchase behaviour and value propositions being sought is going through changes. Q. What does your media plan look like? Which medium gets your lion's share? The appliance sector is highly seasonal and with summers being severely impacted, spends are also adversely impacted. Traditional media will definitely undergo a cut this year, digital spends less so. However, this is also dynamic and essentially it will boil down to which medium is expected to give better returns for the budgets available. In case demand sentiments recover, we could see some spike in media platforms like TV or Newspaper, but other traditional media like cinema or outdoor hoardings or radio spends will be more or less replaced by digital. Event costs which tended to be significant in our industry will also be replaced by virtual events and will not be incurred at the same scale. Q. Tell us a bit about your partnership with trade merchants? As consumer behavior is changing across the country amidst the pandemic we are going through, it is important that the entire ecosystem undergoes a transformation to be able to meet consumer’s increased needs for safety and health, across the purchase process. Small shop owners form a vital part of this ecosystem. By making them self-reliant when it comes to online business, Godrej intends to make it a win-win situation for consumers, trade partners and companies. The trade partners are company's key interface with the customers and helping them to gain business online also is crucial for consumer safety, trade safety and improved business overall. During the lock down we started with an enormous online trade engagement program – which is still ongoing. We have covered 5000 trade partners already explaining to them the changing dynamics of industry and the consumer and how they need to prepare themselves, underscoring the need and ways for digital transformation. We have also set up a robust engagement mechanism using Ms Kaizala Platform – on which a number of groups are created for Retailers, EBO, PBO, GACH – providing all the trade partners with a common platform for information sharing. Apart from assisting the trade partners to come aboard on Google My Business, we are enabling our offline retailers to build a digital presence by creating a Facebook Business Page for each of them. We target each of our 25000 offline retailers’network to have a Facebook Business Page by end of June, with 2500 already on board and counting. For customers, this will help them access product information and allow them to purchase a Godrej appliance from their familiar local retailers. All the Godrej Exclusive brand outlets and bulk of the preferred retailer partners and GodrejGreen AC Hubs have already been made live on Facebook with their shop pages. This allows them to link up with consumers through WhatsApp also to discuss, negotiate and conclude the sale. We understand that consumers even if they do visit the stores want to spend the least amount of time at the store and hence it’s important that everyone at store is completely trained on the products. Consequently, the lockdown period is being used effectively to train the large network of promoters and store staff by training them online. We have conducted more than 2000 batches of online product and sales training and ongoing and the initiative has received tremendous feedback. As a responsible brand, we are taking all the necessary precautions against the spread of the COVID-19 pandemic. Keeping in mind the safety and wellbeing of its customers and that of trade partners, we have issued guidelines across its retail and distribution channel to follow Govt. directives like practising social distancing, maintaining hygiene standards and sanitization of appliances and work surfaces at retails shops. The overall endeavor is to get the entire ecosystem transformed digitally, keeping in mind the changed consumer concerns and serving them in the best way. Q. Have you introduced any new tools to empower your employees to accept the new normal? How big is your team right now and how is your brand helping its employees deal with lockdown blues and anxiety? The COVID-19 pandemic has compelled companies to rapidly embrace remote working and presented us with a unique opportunity to embed new ways of working in preparation for the ‘new normal.’ Since the bulk of our organization was already on Office 365 with access to Ms Team, the digital transition on day to day work happened very fast for us without many hiccups. Agile ways of working with digital tools for facilitating every aspect of work have been a key focus area to ensure productivity. But beyond all this, having a very strong engagement process with all stakeholders digitally will play a key role. Keeping stakeholders bonded and engaged with the larger team is a strong action area. A series of large scale and small-scale online meets are in progress at our end and will have to be continued throughout the year. More such initiatives are in the pipeline to help keep the lockdown blues at bay , have everyone up to date, well informed and empowered to capture every opportunity. In line with the much-enhanced sensitization of safety, health and hygiene, we are comprehensively looking at all aspects based on the MHA guidelines for resuming operations post the lockdown. We have a huge team spread across the country following the guidelines and applicable work formats as per local authority directives. Our HR teams are building various scenarios and are identifying which all work can be carried out from home. Based on the scenarios and Govt. permissions on percentage of employees, we plan for a slow ramp up as things stabilize. We are also counselling our employees on practicing social distancing at all times and ensuring that they follow proper guidelines and help them understand the new normal at home, outside and at work and their role &amp; responsibilities in keeping themselves and their loved ones safe. Our technicians have been trained comprehensively on all precautions as they start visiting consumer homes for after-sales service. During the lockdown, more than 15000 service requests were resolved digitally and this practice will continue in times to come as well through our remote service assistance. Q. What are some of the key learnings from this experience? COVID has impacted us like nothing else has in a century now. And it is fair to say that the whole world was caught completely unprepared. As tough as it has been, it has also served as an intense crash course. One of the most surprising and positive outcomes has been the speed of digital adoption across the spectrum. The COVID lockdown forced everyone to speeden the learning curve on digital in a completely unanticipated manner. A related learning hinges around the immense power of digital collaboration in reducing wasteful expenditure and driving higher customer convenience - a lot of processes across organizations are changing for the better and far higher levels of agility is a definite outcome. Going beyond the corporate world – of course, there are other learnings for all of us - from developing a grudging respect for nature’s immense power and hoping that this pandemic will lead to more conscious, sustainable ways of business in the future; to a much-needed reminder that countries should invest in health care first and foremost to the home front where I think in general there is a much higher appreciation for the many tasks that home-makers do round the clock to keep our homes running in order and one can now hope that we strike a better balance by playing equal home-makers in future too – the lessons have been many. As marketers, our job is about keeping a tab on the consumer pulse - understanding their concerns which today are focused on core needs like safety, hygiene, health and convenience and ensuring that our offerings address these needs. Consumers are also reassessing what’s really important to them and learning the benefits of a simpler life. Brands will have to reassess their offerings and they will need the support of their agency partners much more than before to be able to deliver these revised offerings to consumers in an agile and relevant manner. Success in these post COVID times will come only at the back of collaboration, traditional wasteful ways will have to be thrown aside and win-win strategies that involve the larger ecosystem will have to be devised. People will need to acquire new skills and don new hats - the learnings are indeed immense and one only needs to be willing. Q. In these uncertain and stressful days, how are you communicating with your audience? Has the current situation made you innovate and think out of the box, in terms of how you communicate with your consumers? In these unprecedented times, we are adapting to this new business climate by retuning our marketing plans and budgets, finding new ways to increase efficiency and effectiveness and also changing the way we connect with our customers. It is critical to redefine how we as a brand - interact with our audience, avoiding grave pitfalls of insensitivity or myopia. The consumer clearly needs brands to play a larger or at least a different role than what it may have played in the past. It is important to be authentic, credible, and empathetic towards the consumers’ concerns. We need to reflect on the real issues that consumers are facing and addresses ‘CONSUMER NEEDS’ with the right value and solutions. In this new era, it is becoming more and more evident that we need to innovate and re-orientate our products, services and communications to fit the Covid-19 landscape. We are reassessing both - our offerings and the way they are delivered, to address the new consumer concerns which have come up and designing fresh consumer communication and promotion which flows from these new ways of adding value to consumers. One of the promotions we designed for example was around a special extended warranty for COVID Warriors going beyond the free extended warranty being offered to other consumers. This promotion is getting a high acceptance in the marketplace. We are also looking at more user generated content which is a bigger evidence of how we have served the countrymen with exemplary performance. Much earlier in the lockdown, with the insight of how the household chores is now being shared by couples, we launched the first completely in-house film HumSabHomeMakers with real authentic footage. As we empower our large trade partner network on the digital journey, we are also encouraging them to share content directly with their customer bases instead of trying to reach them through traditional channels. Some themes have emerged as more compelling like health &amp; hygiene and safety as well as self-reliance and environment consciousness. They have a role to play across the chain from product development to product purchase and product usage through its lifecycle. Brand building will have to take into cognizance these terrains – some new and some old, in a relevant and authentic manner. Q. How do you see the retail sector shaping up after the lockdown? What would its future look like? Indian retailers are faced with a multitude of challenges as the pandemic continues to impact the sector - witnessing significant disruption over the past few months. The challenges range from managing consumer demand, ensuring liquidity, supply chain disruptions, management of store operations to ensure social distancing and proper hygiene, governance issues, and ensuring the health and safety of employees as well. Foremost for the retailers would be to cater to consumers via their preferred channels. Being able to make use of various digital channels to reach out to customers will be key. Equally important will be to offer digital payment options to consumers. As we go along, digital purchase or digital influence may dip from current levels once the pandemic worry settles down but it is expected to stay significantly higher than pre-pandemic levels. And eventually grow further from there. From a current perspective, as the government is easing restrictions, retailers will need to focus on bouncing back from the current situation. Speed and agility are the key levers of success in this situation. They will have to focus on transforming themselves to succeed in the new way of doing business and to build business resiliency to operate smoothly under such crises in the future. This also means they must become flexible and adaptable to alter operating models and product assortment to meet the requirement at any given point of time.

You Searched For "godrej properties q1 results" and got 11 results

Godrej Properties' Q1 net debt up 45% to Rs 5,298 cr from March-end; may rise further

PTI

LTIMindtree Q1 net profit rises 4.1% to ₹1,152 crore, revenue up 14% YoY

BI India Bureau

FMCG sector Q1 preview — Caught between price cuts and volume growth

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Housing prices surge 7% across top eight metros; Kolkata the unlikely topper

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Godrej Properties shares zoom over 8 pc after Q3 earnings

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Godrej Properties Q3 net up 9 pc at Rs 45 cr

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With 9.8% growth in H1 2021 revenues, WPP says it has returned to 2019 levels a year ahead of plan

BI India Partner

Godrej Industries Q3 net at Rs 216.32 cr

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Godrej Agrovet posts Rs 51 cr net profit in Q3

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Godrej Consumer Products Q3 net profit up 5.11 pc to Rs 445.20 cr

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Small shop owners form a vital part of the consumer electronics ecosystem and we want to make them self-reliant: Swati Rathi, Godrej Appliances

Karuna Sharma

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