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Mumbai’s Worli area is a power centre of sorts not just because it’s where the elite reside, but also because it houses corporate biggies, rubs shoulders with the finest luxury retail stores and premium entertainment hubs. Yet, it’s no normal concrete jungle where just money is minted. The city’s unique topography brings the glimmering waters of the Arabian Sea close to this area. It is no wonder that the area has many upscale skyscrapers, but <keyword id="8307120" type="UNKNOWN" weightage="20" keywordseo="lodha-park">Lodha Park</keyword> doesn’t just stand tall but also stands apart. The exclusive 17-acre development is no normal residence; it is reserved exclusively for those who seek the best that life has to offer. True to its name, Lodha Park, which is spread across 17 acres has reserved seven acres of it for a private park. The park boasts of unrivalled amenities and hospitality managed residences provides you with a luxurious integrated living experience setting new standards in premium housing right in the heart of the city. Location might be the keyword for real estate, but for premium and luxury real estate, it’s all about the view and facilities. Once you enter the development, the view transforms from busy Mumbai streets to an idyllic, harmonious with nature, home that has everything that a resort would have. <div type="Youtube" id="3Ut7JTsevI4" title="A Richer Life at Lodha Park │ Lodha Group" thumbUrl="https://i.ytimg.com/vi/3Ut7JTsevI4/mqdefault.jpg"></div> Picture this: It’s a lazy Sunday morning, and you wake up to feel crisp, cool air kiss your cheek. You look out the window and your eyes meet sweeping views of the azure sea glimmering under the blazing sun. You’d be forgiven for assuming you’ve just awoken in an exotic island resort. The reality, however, couldn’t be more different. This exclusive experience is, in fact, available in the lap of South Mumbai, in the heart of one of its most prime localities—Worli. And, you’re at Lodha Park—a 17-acre township boasting five striking 75-storied skyscrapers that tower over Worli Sea Face, each offering enviable views of the cityscape. Identifying the need for comfort and convenience in a city where time itself is a luxury, Lodha Park has been conceptualised as an oasis of calm to offer residents that much-needed respite in the most luxurious environs imaginable. <div type="image" title="Party Lawn-min 12.19.20 PM" msid="81685136" hostid="261"></div> <cmsannotation type="cmsannotation" annotationid="Prime Living, Personified" comment="subhead" text="Prime Living, Personified">Prime Living, Personified</cmsannotation> Lodha Park immerses you in an indulgent living experience unlike any other. The soaring towers of development—Lodha Allura, Lodha Parkside, Lodha Marquise, Trump Tower and Lodha Kiara— are elegantly perched at the starting point of Mumbai’s Golden Mile, with the double-winged structures overlooking the Eastern and Western Seaboard. But far from being a concrete jungle, this premier residential estate’s distinguishing feature is its sprawling park with over thousands of trees and plants of varied species. All residences straddle this verdant seven-acre space that is peppered with an assortment of areas designed to rejuvenate your mind, body and soul. Indulge in a spot of gardening at the organic vegetable and herb garden, enjoy a leisurely stroll along the walkways, kick back with your favourite book at the cosy reading nook, or practise breathing exercises at the tranquil meditation pavilion. There are plenty of avenues to be close to nature and breathe in the fresh air and lead a healthy lifestyle. What’s more? The development is also equipped with a pet garden where you can take your pets for a stroll unperturbed. <div type="image" title="NMK01098-HDR-Edit-min" msid="81685165" hostid="261"></div> <cmsannotation type="cmsannotation" annotationid="Indulgences Galore" comment="subhead" text="Indulgences Galore">Indulgences Galore</cmsannotation> For children aged between two to eight years, a sprawling kid’s play area which offers skating rink, a sand pit, a tempting tree-house promises ultimate enjoyment, while an entertainment zone, complete with video games and board games, is perfect for those aged eight to 14. Parents, too, can cash in on the fun, by spending their weekends at The Jewel—a 50,000 sq ft clubhouse designed by renowned contemporary interior designer Patricia Urquiola, comprising, among other amenities, a world-class spa, a well-stocked library, a private theatre, elegant party venues, and indoor and outdoor sports courts. The creatively-inclined can sign up for dance classes or music sessions organised by renowned trainers, while sports enthusiasts can get their fill of adrenaline rushes by playing a game of cricket on the full-sized cricket pitch (a rarity in a South Mumbai real estate project), taking a few laps in one of the seven swimming pools, or cramming in a workout at the state-of-the-art gym with a world-class fitness &amp; training system. Disclaimer: This is a sponsored post in partnership with Lodha Group.

Lodha Park – a richer life amidst nature in the heart of city

<ul><li>Macrotech Developers, formerly known as Lodha Developers, is ready to go public after over a decade, even as uncertainty looms over the realty sector.</li><li>The biggest risk factor with the company is its high debt.</li><li>It is uncertain how the COVID-19 pandemic will play out and if the company will be able to raise funding in a capital intensive industry that’s witnessing a slowdown.</li></ul>It has taken one of the largest real estate players in India, Macrotech Developers — formerly known as Lodha Developers — over a decade to get to this point, but the company is finally going public. The company’s core business is focused on building residential developments, which is good news since home loan interest rates in the country have been falling for the last five years. As of 2:00 pm on April 7, the Macro Developers' IPO was subscribed to 0.24 times. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></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;">Category </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;">IPO subscription </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;">QIB </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;">0.58 times </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;">NII </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;">0.09 times </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;">RII </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;">0.10 times </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;">Employee </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;">0.01 times </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;">Total </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;">0.24 times </td></tr></tbody></table> “Home loan interest rates in India have been the lowest in the past couple of years and this has led to a significant recovery in transactions in all classes of housing — affordable, mid segment and luxury,” said Rohit Poddar, managing director of Poddar Housing and Development — a listed competitor to Macrotech. However, the realty sector is one of the worst hit by the pandemic. And, according to analysts, the industry is facing its worst slowdown in the last five years. This risk is compounded by the fact that Macrotech Developers also has high indebtedness, which will partially be financed by the funds it raises from its ₹2,500 crore initial public offering (IPO). Considering that most of the company's projects are based out of the Mumbai Metro Region (MMR), its debt may be a cause for concern. The capital intensive and high indebtedness should be a hurdle when looking for further financing. “The high leverage ratio limits the scope of the company to absorb any shocks of unforeseen events,” said <keyword id="6357264" type="COMPANY" weightage="20" keywordseo="capital-market">Capital Market</keyword> in its review. Others, like <keyword id="197560" type="COMPANY" weightage="20" keywordseo="Reliance-Securities">Reliance Securities</keyword>, believe that while there are risk factors involved, the IPO seems to be reasonably priced as compared to its competitors, like Godrej Properties and DLF, at a price band of ₹482 to ₹486. It opines that despite the debt and the market outlook, Macrotech Developers has some big projects in the pipeline. “Moreover, its return ratio looks to be superior compared to peers,” said the review. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></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;">Brokerage </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;">Recommendation </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;">Reliance Securities </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;">Subscribe </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;">Choice Broking </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;">Subscribe </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;">Capital Market </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;">Avoid </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;">SMC Global </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;">Neutral </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="The ₹2,500 crore initial public offering (IPO) has been a long time coming" comment="subhead" text="The ₹2,500 crore initial public offering (IPO) has been a long time coming">The ₹2,500 crore initial public offering (IPO) has been a long time coming</cmsannotation> The company got the green light from the Securities and Exchange Board of India (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>) in 2009 and again in 2018, but shelved its plans for an IPO citing that the market was not ideal for the launch. Over ten years later, even with the threat of COVID 19 looming over markets and the realty sector surrounded in uncertainty, the Marcotech management believes that its IPO can persevere. This is slated to be the first IPO of the financial year 2021-22. <cmsannotation type="cmsannotation" annotationid="Macrotech Developers’ high debt" comment="subhead" text="Macrotech Developers’ high debt">Macrotech Developers’ high debt</cmsannotation> The money that the realty firm raises from its IPO will partially be used to repay the company’s borrowings. The rest shall be used for land acquisition or land development rights as well as general corporate expenditures. The draft red herring prospectus (DRHP) shows that Macrotech Developers’ aggregate debt stood at ₹18,662.19 crore as of 31 December 2020. “Macrotech Developers’ plan to reduce net debt to ₹12,700 crore in the coming quarters negates concerns over high levering. Further, strong project portfolio and monetisation of huge land banks offer comfort,” said Reliance Securities in its report. The company currently has 91 completed projects under its belt with another 36 in the works. This includes plans to develop a logistics and industrial park of over 800 acres in Mumbai, near Palava. “If the company does not have access to funds required on favourable terms, it may be required to delay or abandon some or all planned projects or reduce the scale of operations,” noted Capital Markets. And the larger issue of how the COVID-19 pandemic is going to play out brings in a lot of uncertainty. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a> <a href="https://www.businessinsider.in/finance/news/rbi-forecast-shows-that-narendra-modi-administration-is-facing-its-worst-inflation-period-so-far/articleshow/81946820.cms">RBI forecast shows that Narendra Modi administration is facing its worst inflation period so far</a>

Macrotech Developers’ IPO has low home loan interest rate playing in its favour — but high debt and COVID-19 pandemic cloud its prospects

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

8% decline in unsold inventory in Mumbai in last quarter ushers the probability of price rise. The <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> sector is one of the most recognised sectors across the world and a significant contributor to the <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword>. India’s real estate sector has witnessed immense growth over the years due to infrastructure development in the form of residential, office spaces, commercial real estate, retail growth and factory spaces. <div type="ExtQuote" text="It is not only pent-up demand that will push growth but the country is going through a structural transformation in housing demand. This is because of a combination of first-time homebuyers, and customers moving up the property ladder to shift to larger homes or acquiring a second home in another location, that is at play." auname="Deepak Parekh, chairman of Housing Development Finance Corporation recently at the One World One Realty Digital Summit 2021"></div> The digital summit was held on April 22, 2021. Presently contributing 6-7% to the country’s total Gross Domestic Product (GDP), real estate sector in India is expected to reach a market size of $1 trillion by 2030 and contribute 13% to the country’s GDP by 2025, according to India Brand Equity Foundation (IBEF) recent report. <cmsannotation type="cmsannotation" annotationid="Mumbai real estate continues to contribute largely to the growth story" comment="subhead" text="Mumbai real estate continues to contribute largely to the growth story"><keyword id="458910" type="PERSON" weightage="20" keywordseo="Mumbai-real-estate">Mumbai real estate</keyword> continues to contribute largely to the growth story</cmsannotation> With Mumbai being the entertainment, fashion and financial capital of the country, it accounted for 6% of India’s GDP. With population of ~20mm in the urban agglomeration, the demand for housing, especially in the affordable and mid-income segment, is bound to rise. The real estate industry is at an inflection point and could potentially see a disproportionate growth vs. expectation. As reported by ANAROCK Property Consultants, Mumbai and Pune collectively led the pack in driving housing sales in the first quarter of 2021, accounting for 53% of the total sales of top seven Indian cities. The report also advocated that Mumbai region saw the highest yearly decline (8%) in total unsold housing stock by the same period. In early 2020, the sector was impacted due to Covid-19, but post easing of lockdown, the sector witnessed great momentum. With the significant drop in unsold inventory due growing sentiments towards home-ownership and continued sales momentum, the supply-demand mismatch will drive possibility of price appreciation. Greater Mumbai, in the month of December last year, broke a five-year record for the month. A record 14,783 sales were registered in December 2020 as per a Liases Foras report. Experts believe that existing and planned infrastructure will further fuel the city’s growth and it will continue to be top choice for job seekers from across the country. <cmsannotation type="cmsannotation" annotationid="Growth prospects:" comment="subhead" text="Growth prospects:">Growth prospects:</cmsannotation> There was a time when cheap money flowed into the real estate sector which led to poor quality of projects. Since those stocks were not sold, inventories piled up, leading to a situation of excess supply. The situation corrected following the NBFC crisis of 2018 as the cheap money flow was restricted. NBFCs started facing liquidity crunch after commercial banks stopped lending to them. The NBFC crisis led to reduction in supply of homes, consolidation among developers and a marked change in consumer preferences in favour of properties from A grade developers because of quality and certainty of timely delivery. Basis the sales momentum in the second half of fiscal 2021, experts believe that real estate sector is set to register robust growth in the current financial year. With demand gaining pace – both from first time home buyers as well as those looking to upgrade their property or scouting for a second home, prices will soon start to head north, if not already started in certain pockets. Additionally, this demand was also helped by the reduced home loan interest rates, which was also the lowest in last two decades. It was also aided by the concept of work from home and families now looking out for an upgrade as individual space becomes a crucial factor. Buyers are no longer hesitant to pay a premium for homes constructed by some of the leading names in the business, as they don't want to compromise on quality and delivery time. Integrated developments are now being seen as a key for holistic living. Disclaimer: This is a sponsored post in partnership with <keyword id="46877" type="COMPANY" weightage="20" keywordseo="Lodha-group">Lodha Group</keyword> SEE ALSO: <a href="https://www.businessinsider.in/india/news/lodha-park-a-richer-life-amidst-nature-in-the-heart-of-city/articleshow/81684075.cms" data-type="tilCustomLink">Lodha Park – a richer life amidst nature in the heart of city</a> <a href="https://www.businessinsider.in/india/news/lodha-belmondo-a-perfect-weekend-home-nestled-in-nature/articleshow/81446885.cms" data-type="tilCustomLink">Lodha Belmondo - a perfect weekend home nestled in nature</a>

Real estate: A significant contributor to the Indian economy

Mumbai, Jan 9 () GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad International Airport, on Thursday said it has formed a joint venture with Warburg Pincus-backed logistics developer e-Shang Redwood (ESR) to develop a logistics and industrial park at an estimated cost of Rs 550 crore. 
 The joint venture with ESR Hyderabad, a subsidiary under the Hong Kong headquartered ESR Cayman, will develop a 66-acre logistics and industrial park at the Hyderabad airport city with the project having a capital outlay of Rs 550 crore.
 ESR and GMR Hyderabad Aerotropolis Ltd (GHAL) have entered into definitive agreement with an equity interest of 70 per cent and 30 per cent, respectively, in the special purpose vehicle 'GMR Logistics Park', GMR said in a statement.
 "The JV proposes to develop a flagship airport centric logistics and industrial park providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial such as light assembly," it said.
 The park will provide new age facilities and amenities to occupiers and help attract investments and employment in the region, it said.
 "This collaboration would set new standards for the warehousing and industrial real estate sector. It would also benefit the burgeoning cargo industry in the region," GMR Group CEO Airport Land Development Aman Kapoor said.
 Commenting on the partnership, ESR India Country Head Abhijit Malkani said, "This tie-up reiterates our strategic mission to strengthen our facilities and key positions across the country. This new facility at Hyderabad Airport is our latest investment to support national and global trade to and from Telangana."
 Being strategically located, this state-of-the-art facility showcasing smart, sustainable and human-centric design will pave the way for Indian and global companies to capitalise on the immense growth opportunities available in the Indian market, he added. 
 Last June, ESR partnered city-based realty player Lodha Group to develop an industrial park in Thane district at a cost of USD 100 million. PSK
 RVK

GMR Hyderabad Aerotropolis forms JV with ESR to develop logistics park for Rs 550 cr

New Delhi, Apr 8 () Jaypee Group has donated Rs 3 crore to PM-CARES fund to support the fight against COVID-19. Jaypee Group, which is into construction, real estate, power, hospital and hotel businesses, has also contributed Rs 51 lakh to Madhya Pradesh Chief Minister Relief Fund, Rs 50 lakh to Uttar Pradesh CM Relief Fund and Rs 21 lakh to Uttarakhand CM Relief Fund. Jaypee Group firm Jaypee Infratech is undergoing insolvency proceedings."In the wake of the COVID-19 pandemic, Jaypee Group has collectively donated Rs 4.22 crore," Jaypee Group said in a statement. The group is also providing essential items to labourers working on its various projects and also to people around the sites. Last week, Aparna Constructions and Estates donated Rs 5 crore, of which Rs 2 crore was earmarked for PM-CARES Fund. Another Rs 2 crore for the Telangana CM Relief Fund and Rs 1 crore for the Andhra Pradesh CM Relief Fund. Moreover, realtors' body CREDAI-Gujarat has donated Rs 5 crore to the Chief Minister's Relief Fund. Naredco Uttar Pradesh President R K Arora has given Rs 10 lakh to district magistrate of Gautam Buddha Nagar. DLF Group's CSR arm DLF Foundation has donated Rs 5 crore to the Haryana CM Relief Fund and pledged to provide 27 lakh meals.Mumbai-based Hiranandani group has donated Rs 5 crore to Maharashtra CM Relief Fund.FDI-funded realty firm Experion Developers has donated Rs 1.85 crore to PM-CARES Fund and Rs 20 lakh to the Haryana corona relief fund.Signature Global has contributed Rs 2 lakh to PM-CARES. Many developers including Lodha, Embassy, Prestige, Shriram Properties, Puravankara, ATS, Ace group, Arvind SmartSpaces, Salarpuria Sattva, Central Park, M3M, ABA Corp and Bhumika group are providing meals, dry rations, masks, gloves and hand sanitisers to their workers on construction sites. MJH SHW ANUANU

Jaypee Group donates Rs 4.22 cr to COVID-19 relief funds

<ul><li>A few hours after Valentine’s Day comes to an end, an asteroid as big as the <keyword id="1063158" type="ORGANIZATION" weightage="20" keywordseo="Golden-Gate-Bridge">Golden Gate Bridge</keyword> is set to fly past Earth. </li><li>Asteroid 2020 PZ 39 will be flying at 54,684 kilometres an hour. </li><li>The Center for Near-Earth Object Studies (CNEOS) does not believe the asteroid will crash into the planet. </li></ul>One of the biggest asteroids of the year is set to fly by the Earth a day after Valentine’s. More than half-a-kilometre wide, Asteroid 2020 PZ39 is as big as the Golden Gate Bridge in San Francisco — and twice as wide Lodha The Park, the tallest building in India. While it seems like a doomsday revelation, there’s only a small chance that the asteroid will actually hit Earth. According to the Center of Near Object Studies (<a href="https://cneos.jpl.nasa.gov/ca/">CNEOS</a>), the asteroid should peacefully pass by at a distance of 2.2 billion kilometres. It is classified as a potentially hazardous object, flying at 54,684 kilometres an hour, but if there was any chance of a collision with the planet — CNEOS would have issued an alert. Why do people worry about asteroids? It’s not unnatural for people to worry about asteroids. Movies like Deep Impact, Armageddon and even the animated The Good Dinosaur are stoked anxieties about what could happen if <a href="https://www.businessinsider.in/what-happens-when-an-asteroid-actually-hits-earth/articleshow/70732006.cms">an asteroid were to actually hit Earth. </a> The last time any space rock managed to crash to Earth — and not burn up on entry — was in 2013 in the case of Chelyabinsk meteor. The resulting impact damaged 500 square kilometres, destroyed 7,200 buildings and injured over 1,400 people. Scientists are concerned about an extinction-level asteroid hitting the planet. According to archaeologists, there was a collision around 66 million years ago between Earth and a space object about 10 kilometres wide. It produced the Chicxulub crater and is widely believed to have wiped out the dinosaurs. Asteroids are stronger than we think they are Even though the chance of collision is marginal in the near future, most experts believe it’s only a matter of time before another extinction-level threat from space has a chance wipes out humans next. While trying to figure out how to destroy an asteroid before it hits Earth, scientists at discovered that the space rocks are stronger and harder to destroy than they previously assumed. "We used to believe that the larger the object, the more easily it would break — because bigger objects are more likely to have flaws. Our findings, however, show that asteroids are stronger than we used to think and require more energy to be completely shattered," said Charles El Mir from <a href="https://phys.org/news/2019-03-asteroids-stronger-harder-previously-thought.html">Johns Hopkins University</a>, who made the discovery. Nonetheless, the National Aeronautics and Space Administration (NASA) is working on asteroid mitigation strategies that include better tracking and the Double Asteroid Redirection Test (DART) to deflect any incoming objects. See also: <a href="https://www.businessinsider.in/science/space/news/the-10-biggest-asteroids-that-pose-a-threat-to-earth-in-2020/articleshow/73054066.cms">The 10 biggest asteroids that pose a threat to Earth in 2020</a> <a href="https://www.businessinsider.in/science/space/news/nasas-lucy-is-going-to-travel-4-billion-miles-to-explore-seven-trojan-asteroids-and-an-asteroid-moon/articleshow/73189625.cms">NASA's 'Lucy' is going to travel 4 billion miles to explore seven Trojan asteroids — and an asteroid Moon</a> <a href="https://www.businessinsider.in/science/space/news/asteroids-the-size-of-planes-will-fly-past-earth-today-within-hours-of-each-other/articleshow/72432901.cms">Asteroids the size of planes will fly past Earth today, within hours of each other</a>

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Lodha Park – a richer life amidst nature in the heart of city

BI India Partner

Macrotech Developers’ IPO has low home loan interest rate playing in its favour — but high debt and COVID-19 pandemic cloud its prospects

Prabhjote Gill

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

Bhakti Makwana

Real estate: A significant contributor to the Indian economy

BI India Partner

GMR Hyderabad Aerotropolis forms JV with ESR to develop logistics park for Rs 550 cr

PTI

Jaypee Group donates Rs 4.22 cr to COVID-19 relief funds

PTI

An asteroid as big as the San Francisco bridge is set to whizz past Earth after Valentine’s Day

Prabhjote Gill

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