Puravankara Acquires 3.63-Acre Land in Bengaluru with Rs.700 Crore GDV
Puravankara has acquired a 3.63-acre land parcel in Vajrahalli, Kanakapura Road, Bengaluru, which is expected to generate a gross development value (GDV) of over Rs.700 crore.
The acquisition includes a saleable area of 5.42 lakh square feet, in line with the company’s strategy to expand its presence in key micro-markets of Bengaluru.
Ashish Puravankara, Managing Director of Puravankara Limited, commented on the acquisition, stating, “This land parcel is located in a micro-market with strong demand and limited development opportunities, making it ideal for premium residential projects.
We are focused on replenishing our land bank in strategic locations with favorable demand-supply dynamics.”
For the second quarter of FY24, the company reported a widening of its losses to Rs.17.06 crore, more than a 50% increase from the Rs.11.22 crore loss during the same period last year.
Sequentially, the company’s performance turned negative, as it moved from a profit of Rs.14.78 crore in Q1FY24 to a loss in Q2FY24.
Despite this, Puravankara’s consolidated revenue rose by 36%, reaching Rs.520 crore. Its net debt increased to Rs.2,430 crore in September 2024, up from Rs.2,237 crore in June 2024.
Brigade Group Secures Land in Bengaluru for Rs.2,700 Crore Residential Project.
Brigade Group has finalized a definitive agreement to acquire a 20-acre land parcel on Whitefield-Hoskote Road for a new residential project with an estimated gross development value (GDV) of Rs.2,700 crore. The land has been secured through Brigade’s subsidiary, Ananthay Properties Private Ltd., at a cost of approximately Rs.630 crore.
The project, which will offer a saleable area of about 2.5 million square feet, is part of the company’s strategic expansion in the residential sector. Pavitra Shankar, Managing Director of Brigade Enterprises Ltd., emphasized the company’s focus on acquiring prime land in key markets to bolster its long-term residential growth strategy. “This project will support our vision of developing high-quality, sustainable properties that cater to the evolving needs of future residents,” she said.
The company also has a strong pipeline of upcoming residential developments, with approximately 12.61 million square feet of new projects underway across Bengaluru, Chennai, and Hyderabad.
Founded in 1986, Brigade Enterprises Ltd. has a significant presence in several cities, including Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, and others, with developments spanning residential, office, retail, and hotel sectors.
Shalimar Paints launches ‘Smart Bharat 2-in-1 Paint’ and ‘Mela range’ at channel partner meet in Phuket, Thailand
Shalimar Paints, a pioneer in the Indian paint industry with a legacy of over 120 years, has launched ‘Smart Bharat 2-in-1 Paint’ at the channel partner’s meet in Phuket, Thailand as part of its commitment to delivering pioneering solutions to consumers. In the event attended by over 100 key channel partners across India, the company unveiled its latest interior and exterior acrylic paint, designed to provide a superior finish and exceptional durability in line with the evolving needs of the discerning consumer at affordable costs. Shalimar Paints also launched ‘Mela Series’- Affordable Excellence for Every Home. Mela series of products is a budget-friendly paint range designed to bring vibrant colour and durability to homes across India. It includes a comprehensive basket of products: undercoats and enamel for wood and metal, as well as water-based primer and distemper for walls.
Recognizing a significant market gap, Shalimar Paints conducted extensive research and identified that more than 50% of walls in India, especially in rural and remote areas, remain unpainted. With a commitment to innovation and a mission to make quality paint accessible to all, the company has introduced the Mela Series as a solution to bring life and colour to these raw surfaces. The Mela Series stands out not only for its affordability but also for its performance. By addressing the specific needs of emerging markets, Shalimar Paints continues to reaffirm its position as a brand that blends tradition with innovation.
The launch of these new products underscores Shalimar Paints’ ambitious growth journey. As a trailblazer in the dynamic paint industry, the brand continues to set benchmarks with its unwavering dedication to quality and innovation. The event also marked the celebration of the remarkable success of its HERO and ZERO DAMP ranges, known for their exceptional quality and optimal finish, which redefine industry standards.
Commenting on the success, Kuldip Raina, Director- Sales and Marketing at Shalimar Paints said, “We are incredibly proud of the success of our HERO & ZERO DAMP range; it’s a true reflection of our commitment to creating innovative, high-performance solutions that meet real needs. With our ‘Upgrade Kiya Kya’ strategy, we are excited to take bold steps forward, launching new products like Smart Bharat 2-in-1 Paint and the Mela Range, while also expanding into categories like wood adhesives and spray paints. This journey would not be possible without the unwavering support of our channel partners, and we are thrilled to show our gratitude by celebrating their invaluable contributions.”
Shalimar Paints announced its entry into the masking tapes, sandpaper, spray paints, and wood adhesives categories. These products aim to strengthen the paint company’s portfolio and provide a more holistic experience to its customers.
Shalimar Paints’ steadfast commitment to quality and innovation embodies a proactive and long-term strategic approach, demonstrating its dedication to staying ahead of the curve in a dynamic consumer landscape. The company continues its commitment to delivering excellence and addressing the evolving needs of its customers, with a strong focus on sustainable practices and cutting-edge R&D to ensure its products meet the highest standards of quality and environmental responsibility.
Otis India Elevates Luxury Living at DLF The Arbour
Otis India, a subsidiary of Otis Worldwide Corporation (NYSE: OTIS), the global leader in the manufacture, installation and servicing of elevators and escalators, has been selected to equip Gurugram’s prestigious project, DLF The Arbour, with high-performance elevators. The Arbour is one of the biggest development projects by DLF and is in the heart of Golf Course Extension Road in Sector 63. The development features over 1,100 luxurious four-bedroom (4 BHK) residences across five 39-floor towers that stretch over 28 acres and offer several bespoke amenities for an ultra-luxury living experience. With this project, DLF has further expanded its portfolio in the premium housing segment offering amenities for modern living. And Otis is set to complement its elegance by installing a range of state-of-the art elevators that promise seamless efficiency and modern aesthetics.
Otis will provide 65 state-of-the-art high-speed SkyRise, Arise, and eco-friendly GeN2 units for the project. The elevators will feature Otis innovations, including the Otis CompassPlus® destination management system, which offers faster and more efficient service for passengers, the Otis OptiSenseTM traffic management technology, which can direct elevators to floors where they are needed the most, and Otis ReGenTM drives, which convert braking energy into usable power, reducing energy consumption significantly.
Sebi Joseph, President, Otis India, said: “We are proud to partner with DLF again. Grateful to DLF leaders for choosing Otis as the preferred partner for this iconic ultra-luxury residential project. At Otis, we’re committed to creating solutions that go beyond functionality and contribute to an elevated lifestyle. Our solutions are designed to be seamless, intuitive, energy-efficient, and with stylish designs that contribute to the refined aesthetics of these developments. This project win highlights Otis’ reputation as a preferred partner to provide high-performance elevators and escalators in premium real estate developments, delivering technologically advanced solutions that redefine urban mobility.”
KONE Launches Next Generation High-Rise MiniSpace™ DX Elevator in India
KONE, a global leader in the elevator and escalator industry, has introduced the KONE High-Rise MiniSpace™ DX elevator to the Indian market. Designed to cater to the growing trend of taller buildings and the need for modernization of existing infrastructure, this cutting-edge elevator combines speed, energy efficiency, and advanced technology to redefine vertical transportation in India.
“KONE’s relentless focus on innovation across vertical transportation sets us apart,” said Amit Gossain, Managing Director – India & South Asia, KONE. “With advanced solutions like the High-Rise MiniSpace™ DX elevator and KONE UltraRope® technology, we optimize vertical flow in high-rise buildings, ensuring faster, seamless, and energy-efficient movement. Our smart systems reduce waiting times, enhance handling capacity, and adapt to real-time traffic, making buildings smarter, more efficient, and better places to live and work.”
Driving High-Rise Innovation
With buildings in India reaching new heights, the KONE High-Rise MiniSpace™ DX is designed to deliver exceptional performance. Powered by KONE UltraRope® technology, the elevator is 80% lighter than traditional steel ropes, three times more durable, and capable of reducing energy consumption for a 500-meter journey by up to 15%.
This high-speed elevator can effortlessly serve buildings over 60 floors, providing superior handling capacity and shorter waiting times. The design includes energy-efficient hoisting motors, LED lighting, standby solutions, and sustainable construction materials, making it an ideal choice for developers prioritizing eco-friendly solutions in high-rise structures.
Revolutionizing Modernization
The KONE High-Rise MiniSpace™ DX is engineered to optimize space with its ultra-compact machine room, delivering a better price-performance ratio. Its lightweight hoisting technology minimizes the need for elevator shaft reinforcement, making it an ideal choice for modernizing aging buildings.
Equipped with advanced sensor technology, this elevator can adapt to existing shafts, offering faster movement, larger cabins, and wider-opening doors. These features improve handling capacity and reduce waiting times for passengers. Modernization can also enhance energy efficiency, cutting the energy consumption of aging elevators by up to 70%.
A Commitment to Shaping the Future
KONE’s High-Rise MiniSpace™ DX reflects the company’s commitment to addressing India’s evolving urban landscape with innovative, sustainable, and efficient solutions. By focusing on the unique needs of high-rise construction and infrastructure modernization, KONE continues to shape the future of cities in India.
