Shared & Co-Working Startups are Laying the Foundation for Business Growth in India

Shared office spaces have become quite popular in India in the last 5 years. Its massive growth has disrupted the conventional work environment and helped India to get on a progressive track.

Steady economic development and burgeoning startup community in India is driving the flexible workspace industry. In the Asia-Pacific (APAC) market, India has the 2nd largest flexible workspace market, second only to China. CBRE report has found out that in the last 4 years, US$3 billion has been infused in the shared office space market, making it one of the fastest growing emerging markets.

The concept of shared office spaces is catching up in metros and now in the tier II and tier III cities as well. Startups like MyBranch, Qdesq and Flipspaces are coming up with technology driven solutions for start-ups & big firms so that they can continue growing their businesses in this COVID era. Let's have a look at their business model. 

1.    MyBranch:  The firm works on the concept of shared working space and helps big corporate firms to extend their footprints in the Tier -2 & Tier- 3 cities. It came into existence in 2016 and since then has expanded its services in 25+ cities services across India. The firm plans to extend its services to 100 MyBranch locations by the year 2021.

2.   Qdesq: Qdesq is a coworking aggregator and was founded in the year 2015. They provide a tech-enabled platform for the workforce to search and book flexible workspaces. The firm recently launched Qpro; a new vertical to accelerate the restrategizing of workspaces. The platform provides on-demand dedicated desks and promotes work near home.

3.   Flipspaces: Flipspaces is a tech-enabled venture in interior design, products, and projects for commercial spaces. The firm was founded in the year 2015 and since then they have managed to acquire global experience in designing and building for Fortune 500 companies, start-ups, and coworking spaces. 

Canadian Wood’s Hold Webinar on ‘Architecture with Wood in India’

FII-India, popularly known as Canadian Wood has been actively promoting building with wood in India using wood legally sourced from the sustainably managed forests of B.C., Canada. In case of structural applications of wood it works closely with architects, developers, contractors, and hospitality professionals and extends technical support by suggesting appropriate species and grades most suitable to the type of construction chosen or preferred, i.e. T&G (Tongue & Groove), WFC (Wood Frame Construction), posts-and-beams or even hybrid in tandem with local stone/bricks. It also conducts educational seminars and training workshops that help create awareness about its wood species, specific applications, and appropriate methods of use.

As a part of this continued effort during the COVID19 period, Canadian Wood introduced webinars on topics of interest to the wood working industry at large. Its third webinar titled ‘Architecture with wood in India’ conducted on July 24, 2020, was a part of the continuing series and a first-of-its-kind virtual panel discussion, presented by Indo-Canadian Business Chamber (ICBC) and sponsored by Artius Interior Products Pvt. Ltd.

The webinar began with a warm welcome by Ms. Nadira Hamid, CEO, ICBC and opening remarks by Hon. Andrew Smith, Minister (Commercial), High Commission of Canada. This was followed by an introduction of the event curator & moderator Prof. Gurdev Singh by Mr. Pranesh Chhibber, Country Director, FII India. Prof. Gurdev Singh is an industry icon and the Ex-Dean of the School of Environmental Design and Architecture, Navrachana University. With over 40 years of invaluable experience in the field of architecture and several awards at national and international levels to his credit, his portfolio includes Teaching, Design (Architecture, Interior and Urban), Project Management and Construction Coordination, Quality Control and Site Management, as well as experience on projects as an Owner/Builder.

As the webinar progressed exciting sections began to slowly unfold itself in the form of extensive, informative presentations by eminent Indian architects namely Ar. N Mahesh from Iyer & Mahesh, Ar. Gurpreet Singh from Aakar Design Consultants and Ar. Kamal Malik from Malik Architecture. Each glorified through their unique pieces of work the various features, strengths, and possibilities in the world of architecture with wood.

Ar. N Mahesh is known for his decades of experience in reviving traditional timber architecture in India using ‘Green’ reforested timber. He presented beautiful pieces of work that drew inspiration from heritage architecture in Kerala and merged it with the technological prowess of changing times. His presentation showcased rich examples of wooden buildings and captivating visuals of projects spanning across premium hotels and resorts like the Ananta spa & resort - Rajasthan, the Lalit resort & spa, Bekal – Kerala and the Zuri Kumarakom resort & spa - Kerala to name a few. Besides these, he also showcased an eye-catching structure, his prized possession called the ‘Bell Museum’ located in Trivandrum. The building’s interiors featured successful use of Canadian manufactured Tongue and Groove panelling made with western hemlock, one of the five Canadian wood species available across India.

This was followed with a presentation by Ar. Gurpreet Singh who unveiled some truly exemplary work. His projects included well-recognized and awarded ventures like the Royal Academy of Bhutan and large scale in-making projects like the Dining hall for the World School of Environment in Coorg. He also showcased Aakar Villa; a luxury private villa displayed at 1970 sq. ft. in Himachal Pradesh. The villa exhibited how Canadian Wood specie Douglas-fir was optimally used to build posts-and-beams, multiple doors and windows that created a beautiful open space in oneness with nature.

The final presentation was made by Ar. Kamal Malik. His slides were iconic in their representation of his love for nature and the inspiration drawn from it. He defined architecture as a synthesis of ‘Ecology’ and ‘Spirit’. ‘Ecology’ implying a seamless, cohesive, and integrated approach to design and ‘Spirit’ implying balance, understanding and tranquility. His pieces of work included a luxury resort in Morgiri in Lonavala and in Alibaug where he elaborated upon how nature united with the applied contemporary architectural elements.

The three presentations were followed by a very engaging panel discussion, innovatively curated by Prof. Gurdev Singh. The event finally concluded with an insightful Q&A session of the panelists with the well-informed audience. The queries raised by the enthusiastic audience to the panelists clearly indicated the rising positive sentiment and trend towards use of wood in structural applications – we see an emerging trend of country homes, farm houses and resorts especially in hills and coastal areas being designed with wood (from sustainably managed forests) as the most ecofriendly building material.

Commenting on the response to the webinar, Mr. Pranesh Chhibber, Country Director, FII India said, “Canadian Wood is delighted to have the three stalwarts of architecture together as panelists on this platform along with Prof. Gurdev as the curator and moderator. It has been an enriching experience for us to listen and see them share their experience and expertise with the audience on the topic of “Architecture with Wood in India”.

It has been highly satisfying, encouraging and inspiring for us have had such an illustrious team of panelists on the Canadian Wood webinar – Ion behalf of Canadian Wood, thank Architects Mahesh, Gurpreet and Kamal from the bottom of my heart to having spared time for not just today but for having put in many hours preparing their presentations with their respective teams in their offices. Needless to mention that we are also thankful to Prof. Gurdev for being a great sport and taking on the mantle of being the curator and moderator for this webinar.

I must acknowledge the support and encouragement from Hon. Andrew Smith – Minister (Commercial), High Commission of Canada in India and thank him for taking time out for the webinar to further strengthen Indo-Canadian business ties. Needless to mention that without the support and collaboration of ICBC this webinar would not have been possible – so thank you Nadira for being such a sport. I also thank Ms. Bhawna Sharma – Director of Artius Interior products, Gurgaon for sponsoring the webinar and sharing with the audience the great work that Artius is doing with the Canadian Wood species.

Last but not the least, this webinar would not have been a success without the registration and participation of such an enlightened audience. There is a lot for us to take from this webinar and be encouraged to keep such conversations alive on the Canadian Wood forum. I assure our stakeholders that we intend continuing to organize more such sessions with eminent personalities connected with wood from India and abroad.

About FII India

FII is a crown agency of the government of British Columbia (B.C.), the western most province of Canada. Its mandate is to promote wood products from B.C. Canada in the offshore markets and to position it as a global supplier of quality, environmentally responsible wood products from sustainably managed forests by creating awareness and spreading education through information on the wide variety of timber products available from B.C. Canada and the technical support. Its brand/logo Canadian Wood was established in 2013 to reach out to and facilitate the understanding of its activities to its target audience.

Greenply Ensures that We Breathe Clean and Safe Air in Indian Market

Safeguarding the health interests by way of assuring to improve indoor air quality in homes of its consumers, Greenply Industries, one of India’s largest interior infrastructure brands with over 30 years of experience in manufacturing a comprehensive range of plywood, block boards, decorative veneers, flush doors, and other allied products announced that the Company has brought in its California Air Report Board (CARB) certified and compliant Green Gold Platinum Plywood to the market. 

The Breathe Healthy Green Gold Platinum Plywood combines health and durability of the highest quality and conforms to E-0 grade emission of Formaldehyde (European Standard) and low Volatile Organic Compounds (VOC) which makes it the best solution to improve the indoor air quality of our interiors and enable us to breathe clean and safe air. The product is available in various standard thickness viz. from 4 mm to 25 mm with a warranty of 27 years.

California Air Resources Board (CARB) is the "clean air agency" in the government of California. Being a CARB compliant product means that this Green Gold Platinum Plywood has been manufactured in compliance with CARB air pollution rules and regulations and has attained and maintained all the parameters those ensure a healthy indoor air quality and protects the consumers from exposure to toxic air contaminants.

Remarking on the new product which has hit the market, Mr Sanidhya Mittal, Joint Managing Director – Greenply Industries Ltd said “With increasing awareness about the harmful consequences of air pollution on human health, consumers today are extremely concerned not only about their’ s external environment but also about the Indoor Air Quality where they live. This rising concern pushed us to come with an innovative product which will be free from emission of any harmful gases and ensure a complete peace of mind for our consumers in the aspects of indoor air quality, and environmentally friendliness. Green Gold Platinum Plywood being a CARB compliant product, our consumers using it in their homes will now breathe clean and safe air.”

The Compliance made sure that the plywood emits negligible formaldehyde and that its manufacturing facility has an on-site testing mechanism to monitor quality of the product in this regard. CARB standards are usually stricter than those required in other regions of the world and thus products which are CARB compliant are generally considered as one of the most environmentally friendly and safest products when compared to the many others.

About Greenply Industries

GREENPLY INDUSTRIES LIMTED (Greenply), is among India’s largest interior infrastructure brands with over 30 years of experience in manufacturing and marketing a comprehensive range of plywood, block boards, decorative veneers, flush doors, and other allied products.

Greenply commands a 26% market share in the organised plywood market. The company has a strong leadership presence with 55 branches (including virtual branches) and 7,500+ channel partners across India. However, Greenply is currently making its presence felt across the globe, with 4 state-of-the-art manufacturing facilities, which includes the operations in Gabon, West Africa. The organisation has received several awards and certifications for implementing best work practices across factories, maintaining eco-friendly manufacturing, and ensuring quality and guaranteed products, including the prestigious FSC-COC, CE and E1.

Strengthening the business – Greenply is constantly striving on building a sustainable operational framework crucial for continued value creation by working on capacity building and securing resource availability. Therefore, Greenply is amongst the first ones in this sector to use Okoume – a natural timber harvested under the Sustainable Forest Management plan. Greenply has been encouraging timber plantation and agroforestry in marginal and degraded farmlands near their manufacturing sites, ensuring environmental sustainability. For the future, Greenply plans to put in place the right building blocks for sustainable long-term growth and value creation for all stakeholders.

Brigade Group Announces Q4 FY20 and FY20 Financial Results

Key Points 

* Highest ever pre-sales of 4.3 mn sft  in FY20 and Collections of Rs. 2,539 Crores

* Brigade Enterprises Limited’s Consolidated Revenues for the year ended 31st March 2020 was Rs. 2,682 crores as compared to Rs. 3,027 crores for FY19. PAT after Minority Interest was at 131 crores as compared to Rs.240 Crores for FY19.

Operational Highlights:

* Achieved 3 Mn sq ft. of sales in FY20 compared to 3 Mn sq ft. in FY19 (44 % increase)

* Sale value of Rs. 2,377 Crores in FY20 vs Rs. 1,644 Crores in FY19. (45 % increase)

* Achieved 1 mn sq ft. of new sales in Q4 FY20 vs 0.9 mn sq ft. in Q4 FY19 (10 % increase)

* Sale value of Rs.651 Crores in Q4 FY20 vs Rs.520 Crores in Q4F Y19 (25 % increase)

* Leased 5 Mn sq ft. of new office area in FY20 which is estimated to yield rental of Rs.237 Crores.

* Collections are at 2,539 Crores in FY20 compared to 2,242 Crores in FY19 (13% increase)

* Commenting on Company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited:

“FY20 has been Brigade’s best operational performance where we have sold an area of 4.3 million sft. All our business segments- Residential, Lease Rental and Hospitality, have performed strongly in FY20   and the same is reflected in the numbers. The unprecedented crisis due to Covid-19 pandemic resulting in the nationwide lockdown has had a negative impact on all sectors. However, we expect business to gradually pick up from the 3rd quarter of this financial year ”

Financial Highlights

Standalone Performance FY20 vs FY19:

Total Revenues at Rs.1994 Crores vis-à-vis Rs. 1929 Crores

EBDITA at Rs.635 Crores vis-à-vis Rs. 605 Crores

EBDITA Margin at 32% vis-à-vis 31%

PAT at Rs. 261 Crores vis-à-vis Rs. 234 Crores

Consolidated Performance FY20 vs FY19:

Total Revenues at Rs. 2,682 Crores vis-à-vis Rs. 3,027 Crores

EBDITA at Rs.713 Crores vis-à-vis Rs. 844 Crores

EBDITA Margin at 27% vis-à-vis 28%

PBT (Before Expectational Items) at Rs.180 Crores vis-à-vis 427 Crores

PAT after Minority Interest at Rs.131 Crores vis-à-vis Rs.240 Crores

Collections increased by Rs.297 Crores in FY20 when compared to FY19.

Consolidated Q4 Performance (Q4FY20 vs Q3FY20) 

Total Revenues at Rs. 644 Crores vis-à-vis Rs. 569 Crores

EBDITA at Rs.144 Crores vis-à-vis Rs. 172 Crores

EBDITA Margin at 22% vis-à-vis 30%

PBT (Before Expectational Items) at Rs.7 Crores vis-à-vis Rs.36 Crores

Net Profit after Minority Interest at Rs. 3 Crores vis-à-vis Rs.49 Crores

New Launches in Q4 FY20 & FY20

Launched 4 real estate projects aggregating to 2.5 Mn. Sft. in Q4 FY20.

Total area of 5.3 Mn. Sq. ft. has been launched in FY 20 across all business segments.

Final Dividend

The Board had  declared  and paid an Interim Dividend of Rs. 1.00 per equity share  in March 2020 (10%). There is no final dividend recommended by the Board. The Interim Dividend  paid in March 2020 will be the final dividend for the financial year 2019-20.

COVID 19 relief efforts and initiatives

Around 9,500-10,000 migrant workers supported with ‘ Dry Ration’ and money was remitted to their Jan Dhan Bank Accounts/given in hand.

Provided 3,65,000 meals during the lockdown period to migrant workers and economically weaker section of the society.

Over 7 truck loads of rice distributed in Chennai.

Dry rations provided to more than 3,500 families in Bangalore and bread loaves of over 11,500 provided in slums.

Outlook

The Group is currently developing about 21.4 million Sq. ft across Residential, Office, Retail and Hotel segments. Further, launches to the extent of about 4.5 million Sq. ft. are planned for the financial year 2020-21.

Is Silicon Valley seeing shift from Chips to Bricks?

Forget microchips. Silicon Valley sees a profitable future in the humble brick thanks to a low-energy production process that illustrates the greening of the US technology capital.

Brick maker Calstar Products is backed by venture capitalists whose vision is to create buildings less expensively and in a way that saves energy. “We think it is time for a second industrial revolution,” said Paul Holland, a partner at Foundation Capital, which invested $7 million in Calstar. EnerTech Capital led another round that raised $8 million for the business.

Currently about 40% of US energy use goes toward the heating, cooling and general operation of buildings. Silicon Valley is finding high-tech ways to make ageold materials, pursuing carbon dioxide-eating concrete, windows that insulate better than walls, and wood substitutes.

The field is still new. Venture investments in green buildings have waxed and waned with the recession, but involved 45 deals worth about $350 million the past year, according to Cleantech Group LLC.

Bricks have been made pretty much the same way for 3,000 years, until Calstar’s scientists came up with their new technique, said Chief Executive Michael Kane. Ordinary bricks are fired for 24 hours at 1,100°C as part of a process that can last a week, while Calstar bricks are baked at temperatures below 100°C and take only 10 hours from start to finish, Kane said.

Lower energy costs mean higher profit, allowing the company to pay for its research and compete against large companies that have economies of scale. The new bricks — which the Brick Industry Association says are not actually bricks — will sell for the same price as traditional claybased ones.

Agencies

Infosys, Wipro get terror e-mails

Six prominent IT companies in the city, including Infosys and Wipro, have received e-mails threatening to blow up their buildings, said a top police officer.

Joint commissioner of police B. Gopal Hosur said here that the companies received e-mails threatening to blow up their establishments two days ago and immediately informed the police.
The police have already begun investigations, he said, but did not divulge further details.
Security had been tightened at all the Information Technology companies which received the threats.

City police commissioner Sankar Bidri said police viewed the e-mail threats seriously and that all precautionary measures were being taken.