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Ticker Tape August 2024

Construction Ticker August 2024

Nippon Paint, the No. 1 paint in Asia Pacific, is enhancing its Weatherbond Advance exterior emulsion with a 12-year warranty and Quartz Technology.

Weatherbond, a legacy brand, has been the most widely sold and recognized exterior emulsion across the Asia Pacific for over 75 years. Building on this heritage, Weatherbond Advance proudly pioneered Lamination Technology in India’s exterior emulsion market in 2010. In 2017, it was enhanced with Heat Ban Technology, solidifying its position as Nippon Paint’s flagship brand in India. Now, Weatherbond Advance has evolved again, incorporating Quartz Technology and offering a 12-year warranty to meet the changing needs of consumers. This innovative solution is designed for homeowners seeking exceptional protection and durability.

Weatherbond Advance boasts robust waterproofing, fungal and algae resistance, and a long-lasting, fresh appearance. Its cutting-edge formulation features Microcrystalline quartz minerals, creating a durable paint film that shields against extreme weather, fading, and cracking. This enhances the paint’s durability and makes it more resistant to wear and tear.  As India’s first exterior emulsion with Quartz Technology, Weatherbond Advance offers 2X toughness and durability, providing supreme protection against harsh weather conditions. Its innovative “Sun Block Technology” reflects 90% of solar light on exterior walls, reducing surface temperature by up to 7 degrees Celsius. This makes interiors cooler, resulting in energy savings. With ultra-low VOC, it ensures a safe environment.

The product has been engineered to suit India’s varied demographics and climatic conditions. For the coastal regions, it resists salt corrosion, humidity, and strong winds. In hilly areas, it endures temperature fluctuations, moisture, and high UV exposure. For the plains, it combats extreme temperatures, dust, pollution, and heavy rains. Beyond climate, the product also considers factors like affordability and cultural preferences, making it a versatile solution for homes across India.

With growing awareness of the importance of exterior paint, Nippon Paint is committed to offering top-tier solutions. The extended warranty on the Weatherbond Advance reflects this commitment and provides customers with significant long-term savings. Homeowners can rely on Weatherbond Advance to safeguard their homes for up to 12 years, ensuring their exterior walls remain protected and beautiful for years to come.

Mahesh Anand, President of Nippon Paint India shared his enthusiasm and said, “We’re excited to introduce the enhanced Weatherbond Advance, now with Quartz Technology backed by an impressive 12-Year Warranty! Produced in our GreenCo Gold certified facility and duly certified with the prestigious GreenPro eco label by IGBC, Weatherbond Advance boasts a minimized carbon footprint. This innovative exterior emulsion is designed to safeguard homes against harsh weather conditions, providing unparalleled protection by ensuring long-lasting durability. With a range of finishes to suit individual tastes, homeowners can enjoy reduced repainting cycles thanks to the extended warranty.  At Nippon Paint India, we prioritize sustainability, and Weatherbond Advance upholds this commitment, embodying our eco-friendly values.

Ashwin Sheth Group, a leading luxury real estate player in the MMR region, proudly announces the launch of ‘The Orange Circle’ as a part of their ASG 2.0 expansion plan to redefine the essence of real estate community building. This comprehensive, industry-first program offers a once-in-a-lifetime opportunity for members to experience a world of unique privileges and rewards, meticulously curated across 250+ premium brands.

The Orange Circle is designed to bring together residents, homeowners, employees, channel partners, corporates, business associates, friends and well-wishers of Ashwin Sheth Group into an exclusive community that celebrates loyalty and commitment. Members will enjoy a range of benefits, including personalized customer service, hassle-free experiences and exclusive benefits on all Ashwin Sheth Group projects. Additionally, members have the exciting opportunity to earn exclusive rewards—not just for joining the circle, but for every successful referral they make. It’s a chance to multiply their benefits and truly maximize the value of their association with the brand.

Bhavik Bhandari, Chief Sales & Marketing Officer, Ashwin Sheth Group, remarked, “The Orange Circle is our way of transforming loyalty into a tangible experience. This industry-first program goes beyond traditional rewards, offering a blend of exclusivity and personal touch that enhances every interaction with our brand. Imagine a VIP club where your everyday interactions turn into unforgettable experiences. We’re not just building properties, we’re crafting a community where every engagement counts and every gesture feels special. We therefore invite you to join us in this journey where loyalty is celebrated and every moment is exceptional.”

Commenting on the launch, Sudarshan Banerjee, VP – Marketing at Ashwin Sheth Group, said, “We are excited to unveil The Orange Circle, a program that reflects our dedication to nurturing long-lasting relationships with all our stakeholders. This initiative is our way of giving back to those who have been an integral part of our journey, offering them access to exclusive benefits and a bespoke experience that truly embodies the essence of Ashwin Sheth Group.”

Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, today announced that it has acquired a ~90-acre land parcel in Khalapur – Raigad, Maharashtra. The land is located near Karjat Khopoli Road and is estimated to have a development potential of approximately 1.7 million square feet of saleable area comprising primarily of residential plotted development.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location. Hence following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. We will aim to build an outstanding residential community that creates long-term value for its residents.”

Located about 70 kilometres from Mumbai, Khalapur is a scenic area featuring well-established social and civic infrastructure, including several schools, healthcare facilities, shopping malls, and entertainment venues. The land is in proximity to the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway, providing excellent connectivity to Mumbai, Navi Mumbai, and Pune. The planned Navi Mumbai International Airport is expected to further enhance access to Khalapur and its neighbouring regions.

Godrej Properties has secured the highest bid for two prime land parcels, with a combined bid value of Rs.842 crore, in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA). The auction was for Residential Group Housing Plots.

GNIDA will issue the allotment letters following the completion of the necessary procedures, according to a statement from Godrej Properties. The parcels, located in Sector Sigma—III (9.5 acres) and Sector 12 (8 acres), are situated in key areas of Greater Noida. Together, they offer a development potential of 3.75 million square feet and are expected to generate over Rs.5,000 crore in revenue through the development of premium residential apartments in various configurations. Greater Noida’s infrastructure, wide roads, and its proximity to Delhi, Noida, and the Jewar Airport enhance its appeal for high-quality living and connectivity.

In FY23, Godrej Properties acquired two parcels of 6.2 acres each in Sector 146, Noida. The first project, Godrej Tropical Isle, launched with a booking value exceeding Rs.2,050 crore, marking it as the company’s largest launch at the time. The success of Tropical Isle led to the launch of Godrej Jardinia, which was sold out upon its release in Q1 of the current fiscal year, with a booking value of Rs.,375 crore. Together, these projects generated over Rs.4,400 crore in just three quarters.

Godrej Properties Managing Director & CEO Gaurav Pandey expressed confidence in the new acquisitions, stating, “We have seen robust demand for our projects in the NCR market, reflecting the strong trust and confidence customers have in us. These new acquisitions will further enhance our development portfolio in the NCR region and address the high demand for our offerings.”

NITCO Limited, a leading name in the tile manufacturing industry, has sold a prime land parcel located in Kanjurmarg East to Runwal for Rs.232 Cr. The land parcel, spanning 16,250 square meters or 4 acres, is a strategic asset with significant potential.

Situated in a prime location, the NITCO Ltd. land parcel offers excellent connectivity to key transportation links such as the Eastern Express Highway, Jogeshwari – Vikhroli Link Road (JVLR), and Kanjurmarg Railway Station.

The area will soon benefit from enhanced accessibility with the upcoming Metro Line No. 4 and 6, further adding to its value and appeal.

UltraTech Cement, a key entity of the Aditya Birla Group, is on track to exceed a production capacity of 200 million tonnes per annum (MTPA) by FY27, following the approval of recent acquisitions and the completion of ongoing projects.

At the company’s annual general meeting recently, Chairman Kumar Mangalam Birla announced that the completion of current expansion initiatives and the statutory approvals for the recently announced acquisitions of Kesoram Cement (10.75 MTPA) and The India Cements (14.45 MTPA) will push UltraTech’s total cement capacity beyond the 200 MTPA target set during last year’s AGM. This aligns with the Group’s vision of becoming a leading global player in the cement sector.

In FY24 alone, UltraTech increased its cement production capacity by 13.3 MTPA through expansion projects, surpassing the 150 MTPA mark in April.

Birla emphasized that the company’s capacity expansion is not merely a numbers game. The expanded manufacturing footprint will enable UltraTech to reduce operational costs, particularly in logistics, and improve customer service by minimizing lead times through its robust nationwide distribution network. The increased scale will also position UltraTech to meet India’s growing cement demand more effectively.

UltraTech’s presence spans 60 locations across India, with a mix of integrated cement plants, grinding units, bulk terminals, and over 300 ready-mix concrete plants.

Birla highlighted India’s economic resilience amid global uncertainties, noting that the country achieved a real GDP growth of 8.2% in FY24, making it the fastest-growing major economy and the fifth-largest globally. He attributed this growth to structural reforms and strong domestic demand, with expectations for India to grow at 7.2% in FY25, driven by increased capital expenditures, digital infrastructure development, and policy reforms.

In FY24, UltraTech significantly boosted its renewable energy capacity by 77% and its Waste Heat Recovery System (WHRS) capacity by 32% compared to the previous year. The company now has 890 MW of green energy capacity, meeting 22% of its total power needs in FY24.

With further planned increases in renewable energy and WHRS capacity, UltraTech is set to reach 1,000 MW of green power and aims to increase the share of green energy in its total energy mix to 85% by 2030.

Hyderabad is set to gain a second cricket stadium as the Telangana Government has completed initial discussions with the Board of Control for Cricket in India (BCCI). Chief Minister A. Revanth Reddy confirmed that the government has proposed constructing the new stadium at Begarikancha in Ranga Reddy district. In a statement to the Assembly recently, Reddy indicated that the government is prepared to provide the land needed for the stadium, should the BCCI agree to build it to international standards. He also announced plans to introduce a comprehensive Sports Policy in the next legislative session aimed at significantly boosting sports in the state.

Additionally, Reddy outlined ambitions to build stadiums at each Mandal headquarters to further promote sports infrastructure across the region.

Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka also revealed that the government would offer Group-I jobs to boxing champion Nikhat Zarin and cricketer Mohammed Siraj in recognition of their achievements.

JMS Group, a prominent real estate developer has finalized the acquisition of 8.65 acres of prime land in Sector 95A, New Gurugram, signaling a major advancement in the real estate sector. This strategic acquisition paves the way for JMS Group to embark on a large-scale group housing project in one of the most coveted locations in the National Capital Region (NCR).

Upon completion, the upcoming project is projected to generate revenues nearing 1,000 Crores, marking a significant milestone in JMS Group’s expansion strategy in Gurugram. The company has allocated an investment of approximately 400 Crores for the construction of this landmark residential project, demonstrating its confidence in the market and commitment to delivering premium residential spaces.

Pushpender Singh, Managing Director of JMS Group, expressed his optimism, stating, “Acquiring this prime land in New Gurugram underscores our strategic growth plans. We are excited about the potential of this project to redefine urban living in Gurugram. This endeavour not only represents a substantial investment but also reaffirms our dedication to creating sustainable and contemporary living environments.”

The group housing development will showcase a fusion of modern amenities and eco-friendly design, tailored to meet the evolving preferences of homebuyers in Gurugram. It is set to offer a diverse range of housing options, catering to various segments of the market and enriching the city’s real estate landscape.

Construction is slated to commence post approvals, with completion expected within the next few years. With its prime location and a track record of successful real estate ventures, JMS Group anticipates strong interest from both prospective homeowners and investors.

As JMS Group prepares to undertake this transformative project, it reaffirms its commitment to shaping the future of Gurugram’s real estate market and delivering exceptional value to all stakeholders.

Ceratec Group, a distinguished leader in Pune’s real estate sector has launched its latest residential project – Presidential Towers – in the thriving suburb of Ravet, Pune. This sprawling 4.1-acre development promises to redefine luxury living with its exquisite 2 and 3 BHK homes and a plethora of world-class amenities.

Nestled in the heart of Ravet, Presidential Towers boasts a strategic location with seamless connectivity to key destinations. Homeowners will benefit from easy access to the Mumbai-Pune Expressway, Dehu Road, and proximity to renowned IT hubs like Hinjewadi, as well as educational institutions such as Symbiosis University and D.Y. Patil University, healthcare facilities like Ojas Hospital, shopping centers and more.

The project features thoughtfully designed units ranging from 727 sq.ft. to 1031 sq.ft., catering to the diverse needs of homebuyers. Each apartment is meticulously crafted to maximize space and comfort, with a focus on modern specifications and finishes.

Anand Agarwal, Managing Director of Ceratec Group, expressed his confidence in Presidential Towers, stating, “We believe this project will set new benchmarks for urban living with its exceptional amenities and world-class facilities.”

The project boasts a plethora of amenities that redefine urban living. Residents can enjoy a state-of-the-art fitness centre, a refreshing swimming pool, lush green gardens, dedicated play areas, and much more. The development also features a clubhouse, a grand entrance gate, a gazebo, and a designer landscape, ensuring a holistic and enriching lifestyle.

Ceratec Group, with its 25-year legacy in Pune’s real estate sector, is known for its commitment to quality, innovation, and customer satisfaction. The group’s diverse portfolio includes iconic residential complexes, commercial spaces, and mixed-use developments that have redefined luxury and sustainability in the city. The project is scheduled for possession in December 2025, making it an attractive investment option for those seeking a premium address in the heart of Ravet.

Ceratec Group’s extensive portfolio of over 12 successfully completed projects across Pune underscores the developer’s strategic expansion and adaptability to market trends. With a proven track record of delivering high-quality projects and a steadfast dedication to innovation and sustainability, Ceratec Group remains a prominent leader in Pune’s dynamic real estate landscape.

Experion Developers, a fully FDI-funded premium real estate developer and a wholly-owned subsidiary of Experion Holdings Pte Ltd, Singapore, announced its intention to enter the Noida real estate market with their prestigious project Experion Elements at Sector 45. This landmark development marks the expansion of the company in the Delhi NCR region as it reiterates its commitment to providing excellence and innovation in one of the fastest growing cities in India.

Spread over 4.76 acres, the project will feature twin towers designed to redefine luxury living in Noida. With signal-free access from Delhi, Experion Elements promises to provide unparalleled connectivity and convenience for its residents.

What sets this project apart is its unique blend of modern luxury and ancient wisdom. The two towers are carefully juxtaposed in cosmic precision, balancing a quest for perfection rooted in a timeless philosophical tradition. This harmonious approach extends to every stage of development, creating mindful living spaces that soothe and nurture both body and spirit.

The project offers spacious 3 BHK and 4 BHK residences designed to meet the needs of modern living. Experion Elements is GRIHA pre-certified for green buildings, which emphasizes sustainable and environmentally friendly practices. Moreover, the project also features a wide range of amenities and many of these are first for Noida such as EV charging point for every apartment, Kick Boxing, Pikkle Ball court, active pet park, and many more such features along with the other social, sports and community amenities, offering a simple and urbane lifestyle.

Through this project, Experion Developers injects a global perspective to local real estate development. The company’s expansion in Noida underscores its confidence in the growth potential of the city and commitment to cater to the evolving needs of discerning home buyers and investors in the Delhi-NCR region emphasize.

Varmora Granito Pvt Ltd., a Gujarat-based tile and bathware brand backed by global investment firm Carlyle, announced recently an investment of Rs.400 crore in the establishment of two new manufacturing plants. One of these plants will focus on producing artificial stones designed to replicate the beauty of natural marble.

The two plants, which together offer a manufacturing capacity of 17 million square meters (msm) per annum, will boost Varmora’s total production capacity to 58 msm. One of the plants will utilize Integrated Stone Technology (IST), a new technology sourced from Italy that allows for the replication of natural marble features, but with added strength, stain resistance, and lower costs. “We have sourced this IST technology from Sacmi, securing exclusive rights for the next two years,” said Bhavesh Varmora, Chairman of Varmora Group. He added that while demand for such artificial stones is high in the United States and Europe, the company plans to focus on the Indian market. The second plant, with a capacity of 12 million square meters, will manufacture tiles and bathware. The two new facilities are expected to create over 600 jobs. For the financial year 2023-24, Varmora reported sales of Rs.1,490 crore, with exports accounting for 20% of the total. The company currently operates 15 manufacturing plants in Morbi, Gujarat.

Meghna Infracon Infrastructure Limited has signed a redevelopment agreement for a residential project located in Model Town, Lokhandwala, Andheri (West), Mumbai. The project, spanning approximately 35,000 square feet, is projected to generate revenue of Rs.40 crore. Managing Director Vikram Jayantilal Lodha highlighted that the project reflects the company’s dedication to enhancing living standards. The redevelopment will proceed following the transfer of possession to the original tenant. This deal represents a significant milestone in Meghna Infracon’s growth strategy in the real estate sector and strengthens its foothold in Mumbai’s residential market.

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