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Godrej Properties aim Rs 2,000 crore revenue from 33-acre housing project in Bengaluru

Ravindra Kirti Founder GGF
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Godrej Properties aim Rs 2,000 crore revenue from 33-acre housing project in Bengaluru

The Godrej Corporation

Real estate development, fast-moving consumer products, sophisticated engineering, home appliances, furniture, security, and agri-care are all part of the Godrej Group’s diverse business portfolio. Despite the fact that many of our companies are privately held, our publicly traded organisations have a combined market capitalization of more than USD 15 billion. The Godrej Group is one of India’s most varied and trusted conglomerates, with annual turnover of USD 5 billion and an estimated 1.1 billion people using one or more Godrej products everyday.

In the pre-independence decades, the Godrej Group was founded in 1897 with the goal of demonstrating economic self-sufficiency and superiority inside India. The organisation has a historic history of creating important products and constructing businesses that serve the country’s interests, from fire-resistant safes to one of the world’s first soaps made from vegetable oil and the voting boxes for independent India’s first general election. We’ve always prioritised people and the environment over profits. Philanthropic trusts that work on environmental, educational, and health-care issues in India possess around 23% of the promoter stock in the Godrej Group. Through our Good & Green strategy of shared values, we are also bringing together our passion and purpose to make a difference by creating a more employable Indian workforce, building a greener India, and innovating for ‘Good’ and ‘Green’ products.

PROPERTIES OF GODREJ

Godrej Properties is a real estate company that follows the Godrej Group’s concept of innovation, sustainability, and quality. Every Godrej Properties project blends a 123-year tradition of excellence and trust with a dedication to cutting-edge design and technology. Godrej Properties has won over 250 awards and recognitions in recent years, including ‘The Most Trusted Real Estate Brand’ in 2019 from the Brand Trust Report, ‘Real Estate Company of the Year’ at the 9th Construction Week Awards 2019, ‘Equality and Diversity Champion’ 2019 at the APREA Property Leaders Awards, ‘The Economic Times Best Real Estate Brand 2018’, and ‘Builder of the Year’ at the CNBC-Awaaz Real Estate Awards 2018.

Over the years, our projects have achieved numerous firsts in the Indian real estate industry. When finished in 2008, the Planet Godrej skyscraper in Mumbai was India’s tallest occupied structure. It was also the first project in the country to provide inhabitants with a fire escape chute, demonstrating our commitment to customer safety and well-being. Godrej BKC, our commercial office project, is the only LEED Platinum-rated skyscraper in India’s most prestigious commercial sector, Bandra Kurla Complex, proving Godrej Properties’ dedication to environmental sustainability. In 2015, a huge international pharmaceutical business purchased space in this project for INR 1,479 crore, breaking the record for India’s costliest ever commercial end-user sales transaction. The Trees, our flagship project, is one of India’s most sustainably designed mixed-use developments, and we hope it will contribute to the country’s progression of urban design thought. Within six months of launching this project in 2015, we sold over INR 1,200 crore worth of space, making it one of the country’s most successful residential project launches.

The country’s metropolitan landscape is set to change substantially in the future decades, with an estimated 10 million Indians relocating into urban areas each year. We are convinced that India should take advantage of the chance to urbanize in a sustainable way. Our organization has always been in the forefront of the struggle for environmental sustainability. When it was finished in 2004, the CII-Godrej Green Building Center in Hyderabad became the first LEED Platinum building outside of the United States and the world’s highest-rated LEED building. Godrej Properties pledged in 2010 that every project it develops will be a certified green building. Many of our projects have since been awarded LEED Platinum certifications, which are widely regarded as the most prestigious sustainability awards. The Clinton Foundation chose Godrej Garden City, a huge township project in Ahmedabad, as one of just two projects in India and 16 worldwide to work with them in the goal of achieving climate positive development. The GRESB (Global Real Estate Sustainability Benchmarking) research, which is an industry-led sustainability and governance benchmarking platform, ranked us second in Asia and fifth in the world in 2016.

Godrej Properties became a publicly traded firm in 2010 after a successful initial public offering (IPO) that raised USD 100 million. In 2016, Godrej Properties established a fund management company, Godrej Fund Management, which raised USD 275 million in the country’s largest residential real estate focused fund raising. We are one of India’s few national developers with significant presence in the country’s most important real estate markets. Godrej Properties became India’s largest publicly traded real estate developer by sales value in the financial year 2016, having sold over INR 5,000 crore of real estate. We also supplied 0.56 million square metres (6 million square feet) of real estate in seven Indian cities during the same year. We think that it is the people who work at Godrej Properties that enable us to create an exceptional company brimming with talent, dynamism, and inspiration. Godrej Properties has been named as the number one real estate developer and among the top fifty companies overall for four consecutive years by the Great Places to Work Institute in association with the Economic Times, in appreciation of our employees and practices.

Godrej Properties expects a turnover of Rs 2,000 crore from a 33-acre home project in Bengaluru 

Godrej Properties Ltd announced on Monday that it has signed an agreement to develop a 33-acre land parcel in Bengaluru, with income expected to be over Rs 2,000 crore from the future residential project. Godrej Properties said in a regulatory filing that the land is in the residential micro-market of Bannerghatta Road in South Bengaluru. “The new project along Bannerghatta Road will have a developable potential of around 3.4 million square feet of saleable space, with an expected revenue of over Rs 2,000 crore,” it continued. The arrangement calls for an outright purchase with the landowners receiving a 5% area share. “Bannerghatta Road is an important micro-market inside Bengaluru, and we are thrilled to add this land piece to our portfolio,” said Mohit Malhotra, MD & CEO of Godrej Properties. He stated that this will help the company increase its presence in South Bengaluru and is in line with the company’s aim of “deepening its presence in key micro markets throughout India’s main cities.”

Bannerghatta Road, according to Godrej Properties, is one of the most established residential areas in South Bengaluru, with great access to the Bannerghatta Main Road and Electronic City’s IT/ITES belt. Godrej Properties purchased a 50-acre land piece in Sonipat, Haryana, for plotted development earlier this month. Godrej Executive Chairman Pirojsha Godrej said in an interview with PTI last month that the business expects to invest roughly Rs 7,500 crore in the next 12-18 months on the purchase and development of new real estate projects. He was optimistic about the housing and commercial real estate segments’ future prospects, particularly in four main markets: the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, and Pune, where the company has a significant presence.

“Over the next 12-18 months, we will invest USD 1 billion (about Rs 7,500 crore) in the development of new projects,” Pirojsha said. Godrej Properties, the largest listed real estate firm in terms of sales bookings in the previous fiscal year, acquires new projects through outright land purchases and collaborative ventures with landowners. The Mumbai-based company is expected to break the previous year’s record of Rs 6,725 crore in sale bookings in the 2021-22 financial year. Housing sales rebounded in 2021 following a severe drop the year before due to the pandemic. In the first nine months of current fiscal year, practically all major publicly traded real estate developers saw an increase in sales.Housing sales in eight major cities grew 13% in 2021, to 2,05,936 units, from 1,82,639 units the previous year, according to real estate expert PropTiger.com. Anarock, a real estate brokerage firm, said that in 2021, sales in the top seven cities increased by 71% year over year to 2,36,530 units.

Behind the world’s face, Ghaziabad and the secret real estate industries

Ravindra Kirti Founder GGF
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Behind the world’s face, Ghaziabad and the secret real estate industries

In the National Capital Region, Ghaziabad is one of the most popular real estate destinations (NCR). The city has experienced tremendous expansion as a result of its closeness to Delhi, critical infrastructure, and strong connections. Ghaziabad, a city in Uttar Pradesh, is located in the eastern region of the Delhi-National Capital Region. Ghaziabad is 28 kilometres from Delhi, 24 kilometres from Noida, 46 kilometres from Faridabad, and 62 kilometres from Gurgaon.

National highways such as NH-24, NH-58, and NH-91 pass through the city, making it well connected to all nearby cities. The 22-kilometer connection road between Greater Noida and Ghaziabad, which connects Greater Noida’s bustling Zeta sector with the NH-24’s Vijay Nagar Bypass, will improve connectivity. People travelling between Noida and Ghaziabad are expected to save time and money by using the link route. The Eastern Peripheral Expressway (Kundli-Ghaziabad-Palwal) project would further strengthen Ghaziabad’s thriving real estate industry. The introduction of the Metro, the plan for a Rapid Metro link from Delhi to Meerut through Ghaziabad, and the construction of multiple flyways and flyovers have improved the city’s connectivity with the rest of the NCR. The Delhi Metro line is already operational until Vaishali, and it is planned to gradually extend the network to other parts of the city.

Construction of infrastructure

The Ghaziabad Master Plan has made a substantial contribution to the development of world-class infrastructure in this region, which has accelerated the city’s real estate expansion. Authorities like as the Ghaziabad Growth Authority (GDA), the Uttar Pradesh Awas Vikas Parishad, local municipal corporations, and others have also contributed to the city’s planned development. The state government intends to enlarge roads and build many underpasses, foot over bridges, service lanes with green belts, and other infrastructure improvements that would have a significant impact on the city’s total infrastructure. The Faridabad-Noida-Ghaziabad FNG corridor and the Ghaziabad-Meerut highway are also in the works.

The GDA intends to build the 18-kilometer-long four-lane Hindon Elevated Road, which will serve to relieve traffic congestion and improve the city’s connectivity. The road will begin at the NH-24 bypass and end at a Hindon road connecting NH-58 and Loni. Ghaziabad is one of the most revenue-generating cities in Uttar Pradesh, including small, medium, and large-scale enterprises. Bulandshahr Road Industrial Area, G. T. Road Industrial Area, B S Road Industrial Area, Loni Road, Sahibabad Industrial Area, and others are just a few of the industrial sectors in Ghaziabad.

Development of real estate

In recent years, Ghaziabad has seen new heights in terms of real estate development. Despite not growing as quickly as Gurgaon or Noida, the city has enormous growth potential. The demand for real estate developments is solid, and the supply has been enough thus far. Ghaziabad’s real estate market provides excellent investment opportunities for investors, as well as the promise of substantial returns and capital gain in the next 3-4 years.  Ghaziabad’s social infrastructure is well-established, which is a big draw for property buyers. In this area, there are numerous reputable schools, colleges, hospitals, banks, malls built by reputable builders, and commercial complexes. Those who cannot afford to buy property in Noida or Gurgaon might choose Ghaziabad as an alternative, as the city’s property prices are lower.

Indirapuram, Vaishali, Vasundhara, Raj Nagar Extension, and Crossings Republik are some of the areas in Ghaziabad where real estate is booming. Property prices differ from one part of the city to the next. While a 2bhk (about 1300 sq ft) in Raj Nagar Extension costs around Rs 30-40 lakh, it might cost around Rs 40-50 lakh in Indirapuram. The average price per square foot in Ghaziabad is between Rs 3,000 and 4,000. Ghaziabad has residences in the luxury, ultra-luxury, and budget classes, attracting purchasers from all walks of life. Buyers are drawn to this region by the growth of the industrial sector. In the last year, Ghaziabad has seen a 25 to 35 percent increase in its value.

Ghaziabad is seeing a flood of new projects in the residential, commercial, corporate, industrial, and hotel sectors. In this location, real estate developments are being developed by companies like as Amrapali, Gaursons Ltd, Supertech, Ashiana Housing, Wave City, SVP, Antriksh, Ajnara, Landcraft, and others. ATS Advantage, Sanskriti, Cascade, Wave City, Landcraft’s Golf Links, Colista Towers, Angel Mercury, Bankey Bihari Sharan, Javin Raj Empire, and others are some of the residential projects in Ghaziabad.

With enhanced connectivity, the long-awaited link road between Greater Noida (Zeta Sector) and Ghaziabad (Vijay Nagar Bypass) is expected to stimulate the real estate market in this corridor. Builders are optimistic about the real estate boom in this area, and numerous commercial and residential projects have already begun construction. According to market experts, a minimum of a 20% increase can be projected in this period.

Ghaziabad: A builder’s son and nephew have been detained in connection with a Rs 100 crore real estate fraud

On Sunday, two more people were arrested in connection with the alleged Rs 100-crore fraud perpetrated by a Ghaziabad developer and his family in collusion with State Bank of India employees (SBI). According to authorities, this is the case’s eighth arrest.

The Ghaziabad police detained developer Rajkumar Jain and his four family members on March 1. They had been residing in Delhi under false identities. So far, 72 FIRs have been filed against Rajkumar and his family for allegedly selling the same flats in their Raj Nagar Extension-based housing project — originally known as Red Apple Residency — to multiple buyers, as well as against unnamed SBI officials for allegedly sanctioning home loans to those who had invested in the project. The housing project, which was first proposed in 2012, has yet to be completed. The deception was discovered after a group of home buyers filed a complaint with Rera in 2019 after the builder failed to deliver the promised property over the project on time.

The Ghaziabad police nabbed Rajkumar’s eldest son Akshay and nephew Prateek from the Link Road area of Ghaziabad on Sunday. Akshay had changed his name to Deven Garg, according to Nandgram SHO Amit Kumar. “He had also created identity cards in the name of Deven Garg, including Aadhaar and PAN cards.” The defendant had also filed for permanent resident visas by posing as an employee of a Dubai-based IT firm. “A passport and visa were also recovered from Akshay’s possession,” the SHO added.

Before they were detained earlier this month, Rajkumar, his wife Indu, their son Naman, daughter Anusha, and nephew Rishabh—all partners in numerous real estate enterprises established by the developer—were intending to relocate to Dubai on permanent resident visas secured on false paperwork.

All of the defendants were charged with cheating, forgery, forgery for cheating, 471 (using a forged document as real), and criminal conspiracy under IPC Sections 420 (cheating), 467 (forgery), 468 (forgery for cheating), and 120B (criminal conspiracy). The Ghaziabad Development Authority (GDA) had given the builder permission to develop 11 floors in each tower of the building, according to the SHO, but the accused allegedly sold homes on levels 12 to 16 as well. By changing the project’s name, the accused also sold the same units to multiple customers. According to investigators, the builder has yet to deliver a single apartment.

 

Maharashtra: Real Estate Fluctuate Good or Harmful For The Economy?

Ravindra Kirti Founder GGF
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Maharashtra: Real Estate Fluctuate Good or Harmful For The Economy?

In 2021, MahaRERA deems 407 projects ‘lapsed’ in the state

MahaRERA, the state’s real estate authority, deemed 407 projects “lapsed” in 2021 after their registration validity expired. In the Aurangabad division alone, there are roughly 23 projects on the ‘lapsed’ list. A promoter is prohibited from advertising, marketing, booking, selling or offering for sale, or inviting people to purchase any plot, apartment, or building in any of these projects, according to the rules.

Buyers should examine the MahaRERA database before acquiring property, said to consumer rights campaigner Vivek Velankar. Also, there has to be clear clarification on how customers who reserved flasks or houses before the launch or pre-launch stage of a project may simply back out. According to him, MahaRERA should compel promoters to restore customers’ money with interest.

When approached, the office-bearers of the Confederation of Real Estate Developers Association of India (Credai) stated they were thoroughly scrutinising the 407 projects in question and finding flaws. The Credai is working with the authorities to implement Sections 15 and 7 of the MahaRERA Act, which allows another developer to take over a project and finish it so that the purchasers may move in. “We are dedicated to finding a solution to these projects and delivering houses to those who have invested in them,” stated Manish Jain, vice-president of Credai (Pune Metro).

The MahaRERA took effect on May 1, 2017. According to Credai authorities, Maharastra was one of the few states to bring ongoing projects under the Act, with the majority of these 407 projects dating back to before MahaRERA and being classed as “ongoing” projects.

MahaRERA projects may receive property cards in the near future

A top revenue official said on Wednesday that the initiative to distribute property cards to flat owners might begin soon with MahaRERA-registered developments. In 2019, the state cabinet approved a plan to issue separate property cards to flats (vertical properties). Property cards containing specifics of carpet areas, amenity space, bank loan information, and a 7/12 extract of the land were scheduled to be sent to all apartment owners.

The proposal, however, garnered several ideas and concerns, prompting the formation of a committee to provide recommendations to the state prior to the scheme’s implementation. The goal was to chart vertical expansion in cities and rural areas while also keeping a separate record of rights and registration for individual flats and units. The government has received the recommendations of the committee for vertical property cards, which suggests that the plan be implemented in stages. Maharashtra Real Estate Regulatory Authority (MahaRERA) authorities are being consulted. The ultimate decision will be made by the government, according to the official. Property cards for urban areas and 7/11 extracts for rural regions are issued by the state and define an individual’s or several people’s ownership rights. However. There is no record that demonstrates a person’s ownership of a flat in a building established on a specific plot.

“Keeping the Maharashtra Land Revenue Code, Record of Rights and Registers for Apartments and Buildings Rules in mind, the revenue department decided to include these into the Maharashtra Land Revenue Code, 1966.” This enables the state to issue a property card to anybody who owns a flat. Maharashtra has around 56 lakh plot property cards and 2.5 crore 7/12 extracts. However, there is no record of vertical properties being built on these areas, such as apartments or commercial complexes,” an official stated.

Maharashtra repealed ULCA

The Maharashtra government and builders may battle over notifications issued under the ULCA, which was repealed earlier this year. Some state governments have started sending ‘demand letters’ to developers, requesting that they pay exorbitant premiums under the abolished Urban Land Ceiling Act (ULCA) for real estate projects granted between 2007 and 2019.

In Mumbai, Pune, and other Maharashtra cities, which make up the country’s most costly real estate markets, a fight is building between the state government and huge developers. Some state governments have started sending ‘demand letters’ to developers, requesting that they pay exorbitant charges under the abolished Urban Land Ceiling (ULCA) for real estate projects granted between 2007 and 2019. The rule, which set a limit on the amount of unoccupied land that may be held in metropolitan areas, went into force in the mid-’70s with the goal of reducing land concentration, protecting farmers, and addressing inequality. The ULC Repeal Act was created by the national government in 1999 in response to complaints that the legislation had achieved nothing, and the Maharashtra government approved it in 2007.

However, owing to a court judgement, a provision in the ULCA that permitted a state government to exclude unoccupied property from ceiling limitations provided certain circumstances were met lingered as a’saving clause’ long after the Act was repealed. Multiple lawsuits followed the invocation of this provision.

The Devendra Fadnavis administration abandoned the criteria, which landowners argued were much too strict, in favour of a premium price to be paid to the state every time there is a transfer of property, acquisition of a development right, or change in land use as part of a one-time settlement programme. The settlement offer was in keeping with the Justice Sri Krishna committee’s recommendations, which was formed at the Supreme Court’s request. According to a new series of notifications, the developer must pay a premium at 2019 premium rates for projects approved after 2007, but before Maharashtra abolished the rule in 2019.

“The stakes are really high, reaching into hundreds of crores, and there is a lot of property involved. Builders will undoubtedly contest the state’s decision to apply the legislation retroactively. The 2019 settlement circular does not apply to projects approved before to that year. Many of these projects have been finished, with OC granted and the building handed over to the organisation… So, who will foot the bill? “a top executive from a major developer remarked “The Pune municipality has issued notifications, and we understand that demand letters will be served shortly by Mumbai and others,” he added.

According to Niranjan Hiranandani, national vice chairman of NAREDCO, a trade association for real estate developers, ” “In my opinion, they should not charge at all, since there is no reason to do so and become needlessly costly in terms of land costs and other difficulties. As a result, I would highly advise the state administration to reconsider this.” ” He argues that, because the federal and state governments are taking proactive measures in the housing sector, the industry should communicate its concerns to the state rather than pursuing legal action.

 

 

Ruchi Soya FPO: 4300 Crore Issue To Open on 24 March

Ravindra Kirti Founder GGF
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Ruchi Soya FPO: 4300 Crore Issue To Open on 24 March

Ruchi Soya Industries Limited (Ruchi Soya) has grown into a fully integrated company in the edible oil industry, with a presence from farm to fork and safe access to Indian palm oil plantations. Ruchi Soya is now one of India’s top FMCG companies, as a prominent maker and marketer of a healthy range of edible oils and a pioneer of soya foods. It’s also one of India’s biggest palm planting firms. Ruchi Soya now owns 22 production units, with a combined refining capacity of over 11000 tonnes per day, seed crushing capacity of 11000 tonnes per day, and packaging capacity of ten thousand tonnes per day. With a pan-India presence and strategically located manufacturing facilities that strike the right balance between proximity to raw materials and markets, as well as an extensive distribution network and a large sales force in India, the company has been able to run smoothly, increase production to meet ever-increasing domestic demand, and export by-products such as soya meal, lecithin, and other food ingredients to other countries. Ruchi soya has access to exclusive procurement rights to over two lakh hectares of land in India with a potential of palm oil cultivation.

Ruchi Soya, one of India’s oldest and most established edible oil companies, has been able to maintain its market leadership because to its great brand awareness. The company’s constant efforts have made Nutrela, Mahakosh, Sunrich, Ruchi Gold, and Ruchi No.1 renowned brands across the country. In order to consolidate and maintain its industry leadership, the Company has focused on continual expansion across all sectors. Ruchi Soya is devoted to renewable energy and is looking into possible business prospects in the field.

Ruchi Soya announced on Friday that its follow-on public offering, valued at Rs 4,300 crore, will begin on March 24 and end on March 28. According to an exchange filing, the company, which is supported by yoga guru Ramdev, will utilise the proceeds from the offering to develop its operations, repay some existing debts, meet incremental working capital requirements, and engage in general corporate activities.

The issuance also includes a resevation of 10,000 equity shares for eligible employees to subscribe to. In 2019, Patanjali, Ramdev’s consumer packaged goods company, paid Rs 4,350 crore for Ruchi Soya’s Nutrela brand. According to sources, the acquisition was completed through an insolvency and bankruptcy law process. Ruchi Soya is one of India’s largest companies in the soya food industry, having introduced the Nutrela brand in the 1980s. Patanjali purchased it after that. Ruchi Soya benefited from the ayurvedic company’s nationwide distribution network as well as its strong position in the fast-moving consumer goods market.

On January 27, 2020, Ruchi Soya shares were relisted at Rs 16.10 per share. On Friday, the stock finished at Rs 803.70, down from a 52-week high of Rs 1,378 on June 9, 2021. Ruchi Soya’s net profit increased by 3% to Rs 234.07 crore in the quarter that ended in December 2021. In the previous fiscal year, the company’s net profit was Rs 227.44 crore. In the third quarter of current fiscal year, total income increased by 41% to Rs 6,301.19 crore, compared to Rs 4,475.59 crore the previous year. Popular brands in Ruchi Soya’s portfolio include Ruchi Gold, Mahakosh, Sunrich, Nutrela, Ruchi Star, and Ruchi Sunlight.

For the uninitiated, an FPO is an offer in which a firm that is already listed on a stock market issues more shares on the stock exchange. This is done largely to raise additional funds and dilute current shares. Initial Public Offering is the full form of IPO. A firm is listed for the first time in an IPO. In FPO, on the other hand, a firm registers a greater number of its shares on the BSE, NSE, or both.

According to two persons with firsthand knowledge of the situation who requested anonymity, the Securities and Exchange Board of India (Sebi) has ordered Ruchi Soya to explain why the yoga instructor broke regulatory requirements. “The Sebi letter demanding an explanation, which was received on September 28,” one of the two sources claimed, “is for suspected violations of insider trading rules, fraud prevention, unfair trade practises, and investment adviser laws.” Ruchi Soya will use the full issue proceeds to enhance the company’s business by repaying some existing loans, fulfilling additional working capital requirements, and other general corporate reasons, according to the DRHP. Ruchi Soya principally engages in the processing of oilseeds, the refinement of crude edible oil for use as cooking oil, the production of soya products, and the development of value-added goods.

Behind The Bar, The Robots Who Want To Draw Your Next Pint

Ravindra Kirti Founder GGF
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Behind The Bar, The Robots Who Want To Draw Your Next Pint

If the personnel in a pub or bar are nice and helpful, it really enhances your pleasure of the experience. Having to deal with a grumpy individual serving your pint or margarita, on the other hand, has the potential to drastically lower your happiness levels. The guy behind the bar can even become a buddy and confidant for those who have a favourite drinking place. “The greatest success of a bartender resides in his ability to perfectly suit his customer,” stated noted Canadian economist Harry Gordon Johnson.

Those bartenders, on the other hand, may soon cease to be human. Cecilia is a robotic bartender who mixes and serves cocktails and communicates with clients using artificial intelligence (AI) in the same manner as Alexa on an Amazon Echo speaker or Siri on an iPhone can. The machine resembles a tall fruit machine, but it has an animated female barmaid named Cecilia on a huge, upright television screen. You may either tell her what cocktail you want or order it on the touch-screen below and pay with your credit card or phone. After that, your drink is blended and prepared within the machine before being delivered into a glass at the vending machine.

“Cecilia works on speech recognition and AI technology,” explains Elad Kobi, CEO of Cecilia.AI, the Israeli company that developed the technology. “She can converse with clients and, if they request a certain drink, she can prepare it in real time.” According to the business, each machine can hold up to 70 litres of various spirits and can serve up to 120 cocktails every hour. At least, assuming customers don’t hang around for long periods of time.

The robot was initially introduced on World Bartender Day, February 24th, this year. Microsoft, accounting company KPMG, and IT giant Cisco have all utilised it at business gatherings since then. Customers have the option of purchasing a Cecilia for $45,000 (£34,000) or renting one at $2,000 each month. Mr. Kobi believes that, in order to “wow” clients and stand out from the throng, the typically change-resistant pub and bar industry will increasingly resort to such technologies. “Companies are realising that they need to do things differently than others to attract individuals,” he adds. “That is something that technology and innovation can do.” Celilia. The device will also be used in hotels, airports, stadiums, casinos, and cruise ships, according to AI.

Bartending robot proponents also point out that they can help bars become more efficient, which boosts their bottom line. “When you have a venue, the major concern is ongoing workforce difficulties,” Alan Adojaan explains. He is the CEO of Yanu, an Estonian startup that just debuted a competing bartender robot. “There is always a labour shortage. You must train them, but they will then depart. There is a lot of personnel turnover.” He claims that robot bartenders may assist address this issue while also putting a stop to other concerns like overly liberal pouring of measures or delivering free drinks to friends, which he claims many venue owners take for granted.

“If someone wants a gin and tonic on a Yanu, for example, you [the bar owner] may specify that the robot pours four centimetres of gin, as well as the correct amount of tonic and lemon juice,” Mr Adojaan explains. Another advantage of a Yanu (cost: $150,000) is that it can serve beverages faster – and to a larger number of people – than human bartenders could. “We’re looking for venues with a lot of foot traffic, like sporting events, festivals, or nightclubs,” he explains. “The machine is extremely rapid, producing 100 cocktails each hour at the rate of three and a half bartenders. It has a capacity of 1,200 drinks.” Furthermore, bartending robots can provide 24-hour service in situations where hiring a human bartender would be prohibitively expensive and impractical.

“Consider a hotel lobby or an airport that is open 24 hours a day. You’d need to engage three shifts of personnel for such a facility, which is pretty costly “Mr. Adojaan explains. “So, for the most part, that will be our playing fields.” At the World Expo in Dubai, one of its Yanu robots is now preparing alcohol-free drinks at the Estonian exhibit. The emergence of bartending robots, like that of other sectors, is likely to create worries about job losses. While some bartenders and waitresses will lose their employment, Emanuele Rossetti, the CEO of Italian robot bartender firm Makr Shakr, believes that they will be able to find new work in the larger hospitality sector. In order to assist impacted human bartenders, it introduced a campaign in the United States in 2019 in which it promised to compensate a bartender or waitress $1,000 (£747) for each unit sold to help them retrain. Toni and Bruno, two robot models designed by Mark Shakr, have been put on nine Royal Caribbean cruise ships. They start at 99,000 euros ($114,000; £85,000) and go up from there.

While some robotics experts believe the technology will become more widely used, others in the hospitality industry believe that human bartenders would not be affected. “Robots will not be able to take the position of traditional [human-staffed] bars,” says Jan Hiersemenzel, head of marketing at F&P Robotics, which develops the Barney Bar robot bar server. “Instead, standalone robot bars are being put up in entertainment and hospitality facilities, as well as at events where a regular bar would not have been set up.” JD Wetherspoon, a British pub business, has no plans to purchase a fleet of robots to operate behind its bars. “In a word, no,” says a company representative. “Wetherspoons would never do something like that.” Mr Adojaan of Yanu, on the other hand, is optimistic about future sales to regular establishments, particularly nightclubs.

“For starters, having a conversation with a bartender is a cinematic cliché, at least in Europe,” he explains. “And you don’t have a discussion in a nightclub. You yell at the bartender to hurry up with your drink.” He goes on to say that bartenders frequently have the onerous chore of dealing with “obnoxious inebriated customers.” “They’ll be replaced by machines, just like other vocations that aren’t pleasurable or artistic on a regular basis,” he adds. Customers who want to converse with their bartender or waitress will find that the robots will develop more human-like characteristics over time, according to Mr Adojaan. “We’re attempting to design something,” he adds, “that can conduct a conversation, make a joke, ask whether you liked your drink, or recommend another.” “The endeavour to make it [look] alive, or have character, is the most exciting element of the project.”

West Bengal: Improve Tourism Infrastructure In The Sundarbans

Ravindra Kirti Founder GGF
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West Bengal: Improve Tourism Infrastructure In The Sundarbans

Sundarbans National Park is well renowned for its beautiful tangle of mangrove trees, which encompasses the world’s biggest mangrove forest and is a UNESCO World Heritage Site. The park is 10,000 square kilometres (3,861 square miles) in size and is located at the confluence of the Ganges and Brahmaputra Rivers, which divide India and Bangladesh and border the Bay of Bengal. Approximately 35% of the park is located in India, with the remaining in Bangladesh. Sundarbans contains 102 islands on the Indian side, with just over half of them inhabited. In the native Bengali dialect, “sundarban” means “beautiful forest.” A unique breed of Royal Bengal Tigers known to be strong swimmers calls this marshy woodland home. Because it’s the only spot in the world where tigers still pursue humans for food, long stretches of nylon net fencing have been built on forest edges to keep the tigers out of the communities. However, don’t expect to see one because the park’s native tigers are normally hidden within the tiger reserve, a core zone where commercial and tourist activity are restricted. Visitors visiting the Sajnekhali Wildlife Sanctuary on the outskirts can expect to see a variety of reptiles, monkeys, wild boar, unusual birds, and deer.

The true pleasure of visiting Sundarbans National Park is in appreciating its unspoiled natural beauty. Unfortunately, some visitors are let down by their visit, mainly because they had high expectations of seeing tigers. The fact that you can’t explore the national park on foot or by car makes wildlife spotting difficult. Inside the national park, there are no jeep safaris and boats are not permitted to land anywhere along the riverbanks. Instead, spend your time wandering around beautiful towns, learning about the local culture, and participating in cultural acts. In the Sundarbans region, you can even sample honey harvested by local villagers. Tourists can also visit the game watchtowers, the most popular of which are Sajnekhali, Sudhanyakhali, and Dobanki due to their vicinity. Alternatively, spend the day on a wager-guided adventure cruising the rivers in search of monkeys, crocodiles, water monitor lizards, wild boar, otter, spotted deer, and birds.

Visitors may safely see animals from watchtowers positioned around the park. For independent tourists, three conveniently accessible towers provide DIY, hassle-free wildlife watching. Birdwatchers go to Sajnekhali, Sudhanyakhali has a good possibility of spotting tigers and spotted deer, and Dobanki has a 20-foot-high covered canopy that provides panoramic views of the park and its animals. Other isolated watchtowers need a full day of boat travel to reach, but the trek is rewarded with a clean nature experience away from the throng. On the Raimangal River, the Burir Dabri watchtower may be found. It’s particularly beautiful, with a canopy walk that leads to a perspective through the mangroves. At Netidhopani watchtower, you can see the remnants of a 400-year-old temple. The number of visitors is limited, and special permits are necessary. With a height of 50 feet, Bonnie Camp is the tallest watchtower in the Sundarbans. The journey from Sajnekhali to this picturesque watchtower takes around six hours, but there is a rest house where you may spend the night. Jhingekhali is a small village on the eastern edge of the Sundarbans National Park that is sometimes neglected due to its isolated location. Nonetheless, this watchtower provides the highest opportunity of spotting a tiger as well as numerous uncommon bird species.

The West Bengal government is considering methods to strengthen tourism infrastructure in the Sundarbans, according to West Bengal State Tourism Minister Indranil Sen. According to Sen, the state government is working with the private sector to build a slew of new infrastructure projects in the Sundarbans. The RT-PCR Test is not required for fully vaccinated travellers. Infrastructures including as eco-friendly hotels, entertainment, and several other measures are planned to be developed and investigated in the Sundarbans woods. West Bengal currently provides a variety of trips for visitors, ranging from the metropolis to the Sundarbans. Jungle ferries have also been developed by the government. The administration is now considering different options for infrastructure development. According to rumours, the West Bengal government plans to launch houseboat services in the Sundarbans within the next six months. A situation like this would be quite similar to one in Kashmir. The Sundarbans are the country’s largest mangrove forest attraction. It is home to Bengal Tigers and other rare animals. There are over 400 magnificent tigers present. Sundarbans must be on your itinerary if you are visiting West Bengal.

RBI Decision’s on key policy According to Realtors, the low interest rate regime on home loans will continue:

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RBI Decision’s on key policy According to Realtors, the low interest rate regime on home loans will continue:

RBI decision According to property developers and consultants, the Reserve Bank’s decision to maintain key policy rates will result in continued low-interest rates on home loans and support the ongoing recovery of housing demand.

According to property developers and consultants, the Reserve Bank’s decision to maintain key policy rates will result in continued low-interest rates on home loans and support the ongoing recovery of housing demand. “RBI’s accommodating stance on keeping the repo and reverse repo rates unchanged is undeniably a progressive and cautious move,” CREDAI President Harshvardhan Patodia said, “, especially in times when the entire industry is carefully assessing the possible impact of the new Omicron wave.”

He added that the continuation of low home-loan interest rates is likely to boost home buyers’ confidence and support the ongoing market and economic recovery, which has been promising following a successful holiday season. The real estate sector will benefit from the low home loan interest rates that will continue as a result of the RBI MPC’s decision, according to Niranjan Hiranandani, Vice Chairman of NAREDCO and MD of the Hiranandani Group.

“Buyers should take advantage of historically low home loan interest rates,” he said. The home loan interest rate will remain below 7% per year, according to Amit Goyal, CEO of India Sotheby’s International Realty. “We expect the housing market to continue to improve. The upcoming budget has everyone’s attention. If the government increases deductions for home loans in Budget 2022, it will boost the real estate sector.” The low mortgage rates, according to Sandeep Runwal, President of NAREDCO-Maharashtra, will last at least until the end of the year. “This will provide the necessary fuel for the economy’s and real estate industry’s growth.”

RBI

The RBI’s decision to keep key policy rates unchanged as expected, according to Dhruv Agarwala, Group CEO of Housing.com, Makaan.com, and Proptiger.com. “Much of the improvement in home sales over the last couple of quarters can be attributed to the record low-interest-rate environment. It would have been highly detrimental to the overall economic recovery to disrupt the current momentum “he stated According to Ashwinder R Singh, CEO Residential, Bhartiya Urban, this will ensure that healthy residential real estate sales continue shortly, as long as home loan rates remain low.

The unchanged repo rates, according to Anarock Chairman Anuj Puri, will help keep the current low-interest-rate regime in place for a while longer. “This is good for all home loan borrowers because the affordability environment will continue,” Puri said. The low-interest-rate regime, according to Shishir Baijal, Chairman and Managing Director of Knight Frank India, has been instrumental in reviving the real estate sector in the last six quarters.

“The RBI’s efforts, combined with other demand-stimulating measures, have helped to resurrect demand that had been stagnant for nearly seven years before 2020. The sector’s cause will be furthered if the accommodating stance is maintained “Added he. The unchanged repo rate, according to Colliers India CEO Ramesh Nair, will continue to improve sentiment in the real estate sector. “The housing sector is already experiencing a resurgence in sales, owing to low home loan rates, pent-up demand, and stable prices,” Nair said.

The low home loan interest rate regime, according to Ram Raheja, Director of S Raheja Realty, has played a significant role in stimulating India’s real estate sector, particularly during the festive season. While rising commodity prices have put upward pressure on input material costs, the economy’s low interest rate has been a major contributor to the housing sector’s recovery, according to Rohit Poddar, Managing Director, Poddar Housing and Development. Lower home loan interest rates, according to Pradeep Misra, MD of New Modern Buildwell, will help the real estate sector, particularly in tier 2 and 3 cities.

RBI

“Because interest rates, along with house pricing, are two of the most important factors influencing people’s buying decisions,” he said, “we expect reasonable demand for housing in the coming months.” The RBI’s policy stance, according to Investors Clinic founder Honey Katiyal, has been supportive of residential real estate, allowing realtors to clear inventory. According to Kaushal Agarwal, Chairman of The Guardians Real Estate Advisory, “the all-time low-interest rate regime has boosted housing demand and helped the economy get back to pre-Covid levels.” The decision, according to Shiv Parekh, founder of hits, a company that facilitates fractional property ownership, will benefit the real estate sector.

The unchanged repo rate, according to Harresh Mehta, Chairman and Managing Director of Rohan Life Capes, will benefit home loan borrowers and the real estate market in general.

 

 

 

Kerala’s Cochin International Airport will be powered by a new solar facility.

Ravindra Kirti Founder GGF
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Kerala’s Cochin International Airport will be powered by a new solar facility.

A solar power plant is any form of facility that converts sunshine into energy, either directly (photovoltaics) or indirectly (solar thermal plants). They come in a range of shapes and sizes, each utilising somewhat different methods to harness the sun’s energy. If electricity costs Rs. 18 per kWh but the plant costs Rs. 8 crore, a 1 MW plant can profit Rs. 1.6 crore per year for the next 25 years! There is an additional level of uncertainty with rooftop solar because there are so few solar installations on rooftops in India. However, the solar panels that generate that energy do not survive indefinitely. Because the industry typical life lifetime is roughly 25 to 30 years, some panels installed at the start of the present boom aren’t far from being replaced.

In an hour and a half, the amount of sunshine that touches the earth’s surface is enough to power the entire world’s energy usage for a year. Photovoltaic (PV) panels or mirrors that concentrate solar radiation are used in solar technologies to convert sunlight into electrical energy. This energy can be converted into electricity or stored in batteries or thermal storage.

Solar radiation is light emitted by the sun, also known as electromagnetic radiation. While every area on Earth receives some sunlight over the course of a year, the amount of solar energy reaching any given spot on the planet’s surface fluctuates. Solar technologies absorb this radiation and convert it to energy that may be used.

The two primary types of solar energy technology (CSP) are photovoltaics (PV) and concentrating solar-thermal power (CSTP): – Photovoltaics Fundamentals
When the sun shines on a solar panel, the PV cells in the panel absorb the energy from the sun. This energy causes electricity to flow by forcing electrical charges to shift in response to an internal electrical field in the cell.

Basics of Solar-Thermal Power Concentration

Mirrors reflect and focus sunlight onto receivers, which collect solar energy and convert it to heat, which can subsequently be utilised to generate electricity or stored for later use in concentrated solar-thermal power (CSP) systems. It’s mostly found in very large power plants.

With the commissioning of its new solar power plant near Payyannur in the district of Kannur, the Cochin International Airport Limited (CIAL) in the state of Kerala, the first airport in the world to be totally powered by solar energy, would become power-positive. CIAL Managing Director S Suhas was quoted in a PTI article as saying that Kerala Chief Minister Pinarayi Vijayan would launch the 12 MWp solar power facility on March 6. According to CIAL, the power plant has a 12 megawatt capacity and is located on 35 acres of land. CIAL presented a concept of terrain-based installation, in which the geographical characteristics of the area are preserved and no modifications in the gradient are made.

According to Suhas, the Cochin International Airport Limited’s cumulative installed capacity of solar plants has been scaled up to 50 MWp with the new plant. CIAL’s solar facilities produce two lakh units of power per day, whilst the Cochin airport consumes 1.6 lakh units per day. According to CIAL, this takes the Cochin International Airport Limited one step closer to becoming a power-positive airport, from its existing status of being a power-neutral airport. The emphasis, according to Cochin International Airport Limited, was on constructing the plant while maintaining the land’s gradient. It went on to say that this may contain 35% more solar panels, resulting in increased energy generation. CIAL claimed that the carbon impact would be decreased by 28,000 metric tonnes per year. According to the research, Cochin International Airport became the first airport in the world to be totally powered by solar energy in 2015.

On 6 November 2021, the CM opened CIAL’s Arippara Hydroelectric Power Project, which is expected to generate 14 million units of electricity annually.

Glenbarra Art Museum’s Gaitonde painting achieves a new benchmark for Indian art.

Ravindra Kirti Founder GGF
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Glenbarra Art Museum’s Gaitonde painting achieves a new benchmark for Indian art.

Vasudeo S. Gaitonde (V. S. Gaitonde) was an Indian abstract painter who lived from 1924 until 2001. In 1971, he was awarded the Padma Shri Award. Gaitonde, who has the air of an intellectual, literally seething with some undiscovered notion, is best described as “a quiet man and a painter of the quiet realms of the imagination,” as one of his admirers once called him. He has never considered himself an abstract painter and is resentful of the label. In fact, he claims that abstract painting does not exist, instead referring to his work as “non-objective,” a kind of personalised hieroglyphics and calligraphic inventions, evoking the surface painted on with the most astounding intuitions, which he has realised in his inevitable meeting, in discovering Zen. The meditative Zen quality that pervades his speech, evoking silence, is best exemplified in his work, as silence is eternal and meaningful in and of itself. From this vantage point, one tends to associate the mysterious motifs, the highly personalised hieroglyphs in Gaitonde’s canvasses with the manifestation of intuitions, invested in their expression. Zen Buddhism and antique calligraphy have impacted his art.

On Thursday evening, an untitled oil on canvas by V S Gaitonde sold for Rs 42 crore, the highest price ever paid for a work of modern or contemporary Indian art anywhere in the world. The painting was one of 57 pieces that went under the hammer at Pundole’s auction house in Mumbai. Other Indian performers, such as Tyeb Mehta, Akbar Padamsee, Arpita Singh, Somnath Hore, and Jagdish Swaminathan, made records as well.

Masanori Fukuoka, a Japanese fish processing tycoon, owns Gaitonde’s bluish picture, which is reminiscent of wide expanses of sky or water. In 1991, Fukuoka established the Glenbarra Art Museum in Himeji, Japan, including works from 60 Indian painters. Artists including Gaitonde, Tyeb Mehta, K K Hebbar, M F Husain, Jogen Chowdhury, Ganesh Pyne, and Arpita Singh have notable works in the collection. The auction book includes numerous photographs of Fukuoka with the artists and the artworks he acquired as a tribute to the collector.

The museum deaccessions (removes and sells) items from its collection on a regular basis. As art critic Ranjit Hoskote writes in the catalogue, these pieces represent “peak moments and turning points” in the careers of the artists. Fukuoka is known for carefully considering his alternatives before deaccessioning by exhibiting the works for a period of time to see which ones he is drawn to.

“The depth of bidding across the sale achieved Masanori’s aim of bringing a broad spectrum of Indian artists into the arena of world notice and recognition,” stated Dadiba Pundole, owner of Pundole’s. The auction saw a high level of bidding from international institutions, indicating that there is a growing interest in Indian art around the world.”

A sculpture, a sketch, and a painting by Tyeb Mehta, all themed around a bovine figure, drew fierce bidding during the auction. Mahishasura (1995) is a work from the artist’s Mahisha series, which dates from the late 1990s. The fabled struggle between goddess Durga and the shapeshifting buffalo-demon Mahishasura serves as the inspiration for Mehta’s painting, which is unique for conveying both combat and embracing at the same time. Mahishasura, now among the most valuable Indian pieces of art, sold for Rs 32 crore, breaking the artist’s previous record of Rs 32 crore set in 2018 with Kali (1989). With the triptych titled ‘The Altar,’ from 1988, Jagdish Swaminathan broke his own record, selling for Rs 22 crore. ‘Wild Boar,’ a bronze sculpture by Somnath Hore, sold for Rs 1.6 crore, and ‘My Lily Pond,’ a canvas by Arpita Singh, sold for Rs 9 crore, breaking records for both artists.

A previous sale of works from the Glenbarra collection at Pundole’s in 2020 set a new record for Gaitonde. An untitled work from 1974 was the highest-selling Indian artwork globally at the time, selling for Rs 32 crore. In recent years, Gaitonde has constantly shattered records. Farah Siddiqui Khan, an art adviser, called this particular 1969 work “extraordinary” because of its history, rarity, and auction debut. “Gaitonde’s work has increased in terms of its value over a substantial length of time,” she remarked. It’s hardly surprising, though, given he’s regarded as a modern master pioneer. His art was delicate and abstract, yet it resonated widely around the world.” “It also goes to illustrate that top quality art offerings always have collectors on a day when the globe is in disarray and global markets have gone into fear,” she added.

 

Haryana Chief Minister wants skill development to be made a compulsory subject in classes 9-12.:

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Haryana Chief Minister wants skill development to be made a compulsory subject in classes 9-12.:

Haryana Chief Minister Manohar Lal Khattar announced on Sunday that skill development will be made a mandatory subject for students in grades 9 to 12 so that the state’s youth can become self-sufficient in all areas. Khattar stated that his government is working tirelessly to provide the state’s students with high-quality, employable educational opportunities. He was speaking at the Haryana School Education Board’s Bhiwani campus. According to the chief minister, skilled universities are essential in today’s world, and the state government has established Haryana’s first such university in Palwal. He went on to say that the National Education Policy (NEP) 2020 would usher in radical changes.

According to an official statement, “the main goal of this policy, along with education and employment, is to make the students cultured and self-reliant so that they can make significant contributions in making India a global leader again.” He stated that, in addition to technical education, artificial intelligence is being emphasized to make education more industry-oriented. “The subject of skill development will be mandatory from grades 9 to 12 so that the state’s youth are self-sufficient in all aspects,” Khattar said.

Haryana

 

After that, the chief minister opened astronomy labs at the Government Model Sanskriti Senior Secondary School and the Government Girls Senior Secondary School in Bhiwani. He interacted with students after inaugurating the labs. Prime Minister Narendra Modi, according to Khattar, has emphasized instilling a scientific mindset in children. “In most cases, children in government schools are restricted to the general curriculum. Children from the poorest of families will be able to learn about the mysteries of the universe thanks to the establishment of these labs “he stated

Later, while speaking to reporters at the 38th State Level Livestock Exhibition in this city, he reiterated that the Centre was making every effort to evacuate Indians trapped in the conflict-torn Ukraine. According to him, the Haryana government is in constant contact with the Union Ministry of External Affairs to bring back residents of the state from Ukraine, including students.

Khattar appealed to farmers to reduce their use of chemical fertilizers and pesticides while speaking at the livestock exhibition, where he also took a camel ride and said his government would soon hold a conference on zero-budget farming.

Zero-budget Natural farming lowers agricultural costs by relying on traditional field-based technologies that improve soil health. Farmers’ expenses can be reduced by connecting the agricultural sector to scientific and new technology, according to Khattar. “Apart from that, we can fertilize the land by using dung manure, cow urine, and so on. The government will launch a public awareness campaign to promote the concept of zero-budget farming “Added he. Many loans and grant schemes, he said, were being run to encourage allied agriculture businesses such as beekeeping, dairy, mushroom production, and so on, to boost farmers’ income.

Haryana School Timings Will Be Changed Starting Tomorrow For All Classes:

Haryana’s Directorate of School Education has issued a notice about the change in school hours. Haryana’s schools will now operate from 8 a.m. to 2:30 p.m., with the change taking effect on Tuesday, March 1, 2022. The school schedules for both teachers and students will remain unchanged, according to the statement. Haryana’s Directorate of Information, Public Relations, and Languages Department announced the decision in a tweet.

The tweet, which was written in Hindi, said: “From March 1, 2022, the Haryana government has changed school hours. Schools will now be open from 8:00 a.m. to 2:30 p.m. All District Education Officers and District Elementary Education Officers have received instructions from the Directorate of School Education in this regard.”

Haryana schools reopened on February 10 for classes 1 to 9, while offline sessions for students in classes 10, 11, and 12 started on February 1.

Haryana

Haryana’s schools will reopen in the physical mode for classes on Mar 1. Students must adhere to strict Covid-19 guidelines, including SOPs when attending physical classes. Mandatory thermal screening, alternate seating arrangements, and students wearing face masks and carrying hand sanitizers are among the Covid-19 SOPs.

While announcing the reopening of Haryana schools in offline mode for students in Classes 1 to 9, Education Minister Kanwar Pal stated that parents who want to send their children to school can do so; however, online classes will continue.

“Schools in Haryana will reopen for all classes on Mar 1. In the classrooms, COVID-19 appropriate behavior will be strictly enforced. Parents who want to send their children to school have the option to do so. Online classes will also be offered in the future “In Hindi, the Minister said in his social media account.

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