Pre-Commitment To Support India’s Office Growth Story During 2020

The Indian office market is setting new benchmarks in an otherwise gloomy economic climate. According to a JLL research on “Office Pre-commitment” released today, “Nearly 52-mn sq ft of Grade A office space was completed and more than 46-mn sq ft absorbed in 2019 in the seven major office markets of India. This historic leasing activity was backed by strong pre-commitment at more than 50% of the Grade A supply.”

Despite an expected decline of office space supply in 2020 to 47.5 million sq ft from over 51 million sq ft in 2019, net absorption is likely to clock a robust over 40 million sq ft mark backed by significant pre- booking  or pre-leasing of space to the tune of 30% by occupiers. The net absorption for the year 2020 will be much higher than the annual average for the last five years which stood at 35 million sq ft.

“The strong pre-commitment activity is an indication of the intrinsic strength of the Indian office market. Moreover, it bears testimony to the increasing importance of real estate in the business plan of corporate occupiers. In markets that have a shortage of quality office supply and increasing pressure on rents, the need to plan for future space requirements becomes critical. Hence, single digit vacancy markets drive pre-commitment levels with large companies finding it viable to commit to office spaces in the under construction phase,” says Ramesh Nair, CEO and Country Head, JLL India

“IT-ITeS occupiers account for a majority of the pre-commitment leases across most of the top office markets in India. They constitute more than 50% of the pre-committed office space in 2020.  These occupiers require larger floor plates and this type of arrangement becomes a necessity in markets with limited availability of Grade A office spaces. Occupiers from the BFSI and co-working sectors are the next big contributors to pre-commitment in 2020 with a share of 13% each,” says Dr. Samantak Das, chief economist and ED, JLL India.

Office markets like Hyderabad, Chennai and Pune that have very limited availability of Grade A quality office supply lead in pre-commitment activity. Hyderabad witnessed the highest pre-commitment levels amongst the seven major office markets in India, with more than half of the expected supply in 2020 already pre-committed. Even within these cities, pre-commitment activity is concentrated in the primary office submarkets that have low single-digit vacancies.

Lastly, it is pertinent to note that most pre-commitment deals are witnessed in projects by reputed developers with a proven track record of timely delivery. Well-planned amenities and contiguous large floor plates are important factors that entice occupiers to pre-commit to office spaces.

Sumadhura Group Powers BMTC Green Miles Initiative to Decongest Bangalore City

Sumadhura Group, one of the India’s top realtors, has taken the onus to support Green Miles, the great initiative of decongesting Bangalore roads by promoting public transport commuters as part of ‘building your world greener initiative’. The group has partnered with Series-5 Labs as Green Miles partner to incentivise public commuters who uses the digital ticketing service named BMTC Namma Pass.

The IIMB NSRCEL incubated startup Series-5 Labs has launched the Green Miles program to promote public transport and to encourage public transport commuters who uses BMTC Namma Pass for their regular commute.Bangalore, being listed as the most traffic-congested city in the world as per a recent survey report can find some relief, if there are more initiatives like this which attract more commuters to choose public transportation.

The startup has been working with Bengaluru Metropolitan Transport Corporation (BMTC) and in 2019 they have launched BMTC Namma Pass, a digital ticketing facility for the Volvo Vajra service. So far more than 3000 passengers are utilizing this digital cashless mode of ticketing service and BMTC has received good response from commuters who are especially travelling to ITPL and Electronic city.

Riding on the one year of stupendous success of BMTC Namma Pass, Sumadhura Group and Series-5 Lab have collaborated to launch India’s first public transport miles program for public transport commuters called Green Miles program. With Green Miles Program, the commuter can top up Cash Miles and accrue Earned Miles which can be redeemed for subsequent travel using BMTC Namma Pass.

Speaking about the initiative, Mr. Madhusudhan G., MD and Chairman, Sumadhura Group, said, “Public transportation contributes to both the economic and physical wellbeing of individuals and we at Sumadhura Group highly endorse the same. With increasing traffic congestion and air pollution in Bangalore, an initiative like Green Miles is the need of the hour. Also, we shall continue to increase awareness around public transport and encourage commuters to use BMTC Namma Pass in a border way. I am glad that Sumadhura Group could be a part of this initiative, which helps in keeping Bangalore traffic congestion in check and also reduces depletion of natural resources.”

Knowlarity Appoints Three Leaders to CXO Positions to Reach Next Growth Orbit

Knowlarity is the leading provider of cloud telephony services in Asia. As part of their expansion, the company has hired a seasoned CXO team comprising of Jaideep Kumar, Sumit Punchhi and Puru Govind. The team is expected to propel the next phase of Knowlarity’s growth, allowing the company to reach a higher growth orbit.

Jaideep Kumar, Sumit Punchhi and Puru Govind have joined Knowlarity as Chief Sales Officer, Chief Marketing Officer and Chief Product Officer respectively. Each new CXO is a respected veteran from the telecom, IT, and marketing sectors having worked with the world’s leading organisations. 

Jaideep Kumar has over 20 years of experience in Business Development and Sales having worked in the Cloud & SaaS space with market leaders like Salesforce, AWS, Microsoft and Red Hat. His recent endeavour SaaSfocus, which he Co-founded reached the pole position in the SaaS Consulting space. He successfully sold SaasFocus to Cognizant. Jaideep’s breadth of sales and marketing experience in the technology domain will play a crucial role in Knowlarity’s penetration of new domestic and overseas markets.

Speaking about his new role at Knowlarity Jaideep said “The Cloud Telephony space has taken a central place in building a 5-star customer engagement experience and Knowlarity with its offerings is at the forefront of delivering this experience. I am extremely excited to be a part of this journey and working with our customers to redefine the standards in superior customer engagement“.

Sumit Punchhi has over 20 years of experience, out of which 15 years of dynamic telecom experience, handling roles like strategy, marketing, and sales and operations. He understands the dynamics of business and how to straddle between marketing and strategy. His knowledge and experience working with some of the leading telecom companies in the world, including Tata Teleservices, Vodafone, Bharti Airtel, will play a key role in shaping Knowlarity’s strategy. Speaking about joining Knowlarity, Sumit Punchhi said: “Knowlarity is an interesting and exciting company to be with its offerings cut across size, sector and solutions for organisations”.

Puru Govind has over fourteen years of experience in Fortune 500 companies, near unicorns and early-stage startups. He has first-hand experience in managing P&L, product management, technology, strategy, and financial planning. Before Knowlarity, he was the Group CTO/CEO-India at B2X Care Solutions and worked for almost a decade at SAP in Germany. As CTO at B2X Care Solutions, he was in-charge of evolving B2X's products and technology that connected a global digital consumer care ecosystem across over 140 countries. He also managed B2X's India operations helping customers like Google, Apple, Samsung, Xiaomi, and Saregama manage 1100 employees, 38 own stores, 120 partner stores, one service factory and two warehouses. 

At SAP, he was the CEO of a business unit that developed software for top retailers and FMCG companies including Walmart, Burberry, Nike, Adidas, Nestle, and Unilever. Puru had also worked as the National Head of prepay marketing at Tata Teleservices before which he was head of marketing for Tata Teleservices’ Karnataka circle. 

His in-depth knowledge of product management and technology will help Knowlarity create innovative products for globally competitive organisations. Speaking about joining Knowlarity, Puru Govind said “Communications is an integral part of any organisation, and Knowlarity is attempting to disrupt all layers of communication - from networks to apps. I am honoured to be part of this journey where we would redefine communication for the world."

Yatish Mehrotra, the CEO of Knowlarity, feels, "The expansion of the leadership team will help us create exciting products and add more value to our current & future enterprise customers. Our expanded leadership team will aid us to achieve our next phase of growth and increase revenues considerably over the next decade. Each new senior leader has distinct skills that will help Knowlarity immeasurably. Jaideep’s skill and knowledge about the technology domain will help Knowlarity penetrate new domestic and overseas markets.

Sumit’s deep understanding of business dynamics and knowledge of how to balance marketing and strategy will prove invaluable to Knowlarity’s growth. Puru’s product and technology knowledge will help us create even more innovative products that let globally competitive organisations excel. The team will also play a part in making Knowlarity a more enterprise solution-oriented company. I am looking forward to the coming year, which will be an exciting time for us."

Classic Legends Announces BSVI Jawa models Prices to Increase from Rs 5000 to Rs 9928

Classic Legends Pvt. Ltd. announced their BSVI models in India for Jawa and Forty Two. As announced earlier, the Jawa Perak is already BSVI compliant.

Being a BSVI ready engine when it was launched in November 2018, the transition to BSVI compliance was a natural step forward for Jawa. The 293cc, liquid cooled, single cylinder, DOHC engine now features India’s first cross port technology on a motorcycle. This has helped the motorcycles to retain their characteristic twin exhaust identity and meet emission standards while retaining similar power and torque numbers.

Making the announcement, Ashish Singh Joshi, CEO, Classic Legends stated, “Riding responsibly is one of the core ethos of our brand as well as our Kommuniti and the Jawa and Forty Two were ready to take on the stricter BSVI emission norms right from the time they were conceived. This is the key reason why both these motorcycles have kept their character and riding pleasure intact even after receiving the updates to make them more environment friendly.”

Classic Legends has increased the price of the Jawa range by Rs. 5000 to Rs. 9928 across its Jawa and forty two models. The price increase is on account of the rapid increase in cost of precious metals that are used in the catalytic converter and the rationalising of prices across colour variants.

Changing Dynamics of the Jobs Market: Newer Profiles that Appeal to the Gen-Z Professional

The advent of AI and allied technologies has transformed the nature of jobs. While low-value job roles such as data entry clerks, accounting, bookkeeping, and payroll clerks, administrative and executive secretaries, assembly and factory workers, etc. are becoming increasingly redundant, several new specialized job roles are emerging in the wake of the Industrial Revolution 4.0.

According to a report by Gartner,  AI-led automation, to eliminate 1.8 million such job roles the world over by 2020. The same report also projected a rise of 2.3 million exciting, high-value job opportunities. This accounts for a net gain of 500,000 jobs across traditional as well as emerging industries including IT, education and training, e-commerce, retail, BFSI, etc.

“It would be an understatement to say that the AI-led technological revolution has transformed the jobs-landscape. Besides obsolete job roles being displaced by specialized ones, we are also witnessing something interesting taking place within this space,” said Zairus Master, CEO, Shine.com. “It is the rise of innovative job requirements and profiles in sync with the highly-evolved sensibilities of the new generation. With GenZ professionals increasingly entering the workforce, the year 2020 marks the beginning of the decade of exciting job roles, quirky designations, and differentiated work cultures.”

Emerging job profiles and roles

The top five careers in today’s technologically-advancing industrial landscape include artificial intelligence (AI), cybersecurity, big data analytics, digital marketing, and DevOps. However, new age professionals are disrupting emerging job roles with new-age terms that are in line with their mindset.

Here are some of the quirky designations that are emerging in 2020:

·         Chief Growth Officer (Chief Marketing Officer)

·         Content Cruncher (Experts with advanced writing and communication skills)

·         Chief of Customer Success (Chief Operating Officer)

·         Customer Delight Officer (Head of customer relationship management)

·         Community Mobilizer

·         Creator of Opportunities (Business Development Specialists)

“The emergence of such new-age job roles are also changing the dynamics of modern-day offices. It is leading a shift in the work environment by encouraging and enforcing differentiated work cultures that are aligned with the highly-creative and evolved social, cultural, ethical, and professional sensibilities of the ultra-modern individuals. The new breed of people is not only keener when it comes to learning new skills but is also more likely to cope with the rapidly-transforming ecosystem with greater ease and passion,” he added.

Royal Stag Barrel Select Large Short Films Premiers Devi: Story of 9 Fierce Women

Royal Stag Barrel Select Large Short Films today premiered their most anticipated short film of the year – ‘Devi’. The movie which has intrigued the audiences because of its impactful storyline & star-cast, outlines the story of 9 oppressed women navigating through an unusual sisterhood thrust upon them by circumstance. The 11 minute movie stars multiple acting powerhouses such as Kajol, Shruti Haasan, Neha Dhupia, Neena Kulkarni, Mukta Barve, Sandhya Mhatre, Rama Joshi, Shivani Raghuvanshi and Yashaswini Dayama in prominent roles. Produced by Electric Apples Entertainment led by Niranjan Iyengar and Ryan Stephen the movie is written & directed by Priyanka Banerjee.

The story of Devi narrates the tale of nine oppressed women, from different strata of the society, living in a small room, held together by similar fates and stories. A doorbell brings the news of yet another new entrant about to overcrowd their sanctuary. The 9 women in the room debate about their stories of tragedy & pain and why they deserve to stay in the room over the stranger. 

Commenting on the film, Writer & Director Priyanka Banerjee said, “There are many issues women are facing in India such as honor killing, female feticide, rape, molestation etc. Devi, an 11 minute short film brings women from different walks of life affected by these issues and puts them in a circumstance where they and we, have no choice but to engage with their tragedy and pain. I am grateful that I got a chance to work with this stellar star cast who delivers the agony of their character with such finesse & perfection on the screen. I would like to thank Niranjan, Stephen & Royal Stag Barrel Select Large Short films for believing in me and allowing me to showcase Devi at a platform that aims to drive change in the society.”

Niranjan Iyengar commented, “Devi is an important film for Electric Apples. It was Ryan’s idea to cast this ensemble and we were really glad that all the actors saw what we did in the film. It wouldn’t have been possible to make this film without the support of Royal Stag Barrel Select Large Short Films and all the Devis associated with it! We are grateful to every single technician who has worked on Devi to make it as powerful as it is!”

Ryan Stephen added, “When Priyanka Banerjee first sent Devi to me, I read it and immediately called Niranjan, and told him we MUST make this film, and we should cast our friends Kajol, Shruti, Neena Kulkarni, Neha Dhupia and Mukta Barve. Devi is a poignant and important narrative that had to be shared with the world. And that could only be achieved with the voices of these strong women. As much as Electric Apples Entertainment's agenda is to give a platform to newcomers, be it actors or technicians, the truth is Devi would not have garnered this kind of attention had we cast newcomers. We are happy to showcase our movie on Royal Stag Barrel Select Large Short films platform which in very short span of time has become synonyms to powerful short films.”

The trailer of the movie which was released on 24th February 2020 on Youtube channel of Royal Stag Barrel Select Large Short films and has garnered 1Million views in just two days.

Royal Stag Barrel Select Large Short Films is one of the most influential and celebrated platforms for short films in India. Since its inception the platform has released some of the most prodigious and award winning short films with some of the renowned artists and directors from the industry which truly reflects originality, imagination and perfection. With a slew of powerful films, Large Short Films is the perfect stage that provides a canvas to directors and actors to tell a compelling stories within 15-20 minutes. Through its original, creative and entertaining content, the property has successfully built a loyal community of enthusiasts.

Ranjit Tinaikar Joins as the New CEO of Ness Digital Engineering

Ness Digital Engineering, a global provider of digital transformation solutions, has announced that Ranjit Tinaikar has been appointed Chief Executive Officer of the Company, effective immediately.

Mr. Tinaikar has over 20 years of experience in the technology services sector with a track record of driving growth in the global businesses that he has managed. Most recently, he served as President of Fitch Solutions, a data and analytical services business, where he repositioned the business for growth through strategic investments and acquisitions in differentiated analytical offerings. Prior to Fitch, Mr. Tinaikar was Managing Director of Advisory & Investment Management, a data analytics business unit of Thomson Reuters, where he led the successful revenue turnaround of a business serving major financial services firms globally. Mr. Tinaikar was also a partner at McKinsey, where he was one of the earliest leaders in forming their Digital practice. At McKinsey, he founded the Lean Software Development and IT Strategy practices.

Mr. Tinaikar brings a unique perspective having worked on the demand side with CTOs, as well as the supply side with service providers. He has partnered with CTOs across industries to help them leverage data and technology to transform and drive better business outcomes. He has led industry shaping initiatives in technology services with Nasscom and helped create breakthrough innovations in technology-enabled public healthcare. Mr. Tinaikar started his career in technology as a faculty member in Information Systems at Carnegie Mellon University and also worked at the Software Engineering Institute.

“Ranjit brings a proven track record of successful executive leadership and driving growth within the technology services sector. His recent experience in data analytics and Big Data will be additive to Ness’ Connected approach across software engineering, data and experience design. He is an accomplished operational executive with the strategic vision, client focus and execution leadership to lead Ness through its next phase of growth” said Tom Kucera, Managing Director at TRG and Ness board member. “The Ness Board of Directors is excited to have Ranjit as CEO and looks forward to working with him and the management team.”

“Ness’ exceptional heritage of experience-led product engineering combined with its breadth of cloud services, AI and data analytics capabilities positions us very well in the fast-growing digital services market. Clients are looking for firms like Ness, who are innovative in designing technology solutions to deliver positive business outcomes. They need a trusted partner on their digital transformation journey and I am excited to be joining the team.” said Mr. Tinaikar.

Tinaikar replaces Paul Lombardo at the Company. “The Board very much appreciates Paul’s contributions to Ness and his role in helping to build the Company into one of the leading digital-solutions providers”, said Mr. Kucera.

Mr. Tinaikar will be based at the Ness Headquarters in Teaneck, New Jersey.

About Ness Digital Engineering

Ness Digital Engineering designs, builds, and integrates digital platforms and enterprise software that help organizations engage customers, differentiate their brands, and drive profitable growth. Our customer experience designers, software engineers, data experts, and business consultants partner with clients to develop roadmaps that identify ongoing opportunities to increase the value of their digital solutions and enterprise systems. Through agile development of minimum viable products (MVPs), our clients can test new ideas in the market and continually adapt to changing business conditions—giving our clients the leverage to lead market disruption in their industries and compete more effectively to grow their business.