Global Prime Residential Index Witnesses an Annual Increase of 0.9%:Knight Frank Prime Global Cities Index Q2 2020

* Bengaluru ranks 26thoutperforming New Delhi (27th), Mumbai (32nd)

* Bangkok was the weakest-performing global city in the year to June, with luxury home prices falling by 5.8%.

Knight Frank India, a leading international property consultancy, in its ‘Prime Global Cities Index Q2 2020’ report cited Bengaluru as the26th fastest-growing Indian prime residential market in the world, in terms of annual price appreciation.The premium micro-markets of the city recorded a rise of 0.60% in annual capital value change in Q2 2020 to an average price of Rs 19,727 per sq. ft.

New Delhi ranked 27th on the global index, witha 0.30% rise in terms of annual capital value change in the prime residential market to an average price of Rs 33,625 per sq. ft. in Q2 2020. Whereas Mumbai's prime residential market ranked 32nd in Q2 2020, registering a decline of 0.60% with an average price of Rs 64,388 per sq. ft.

Prime residential property is defined as the most desirable and most expensive property in a given location, generally defined as the top 5% of each market by value. The Prime Global Cities Index is a valuation-based index tracking the movement in prime residential prices in local currency across 40+ cities worldwide using data from Knight Frank’s global research network.

According to Knight Frank’s research analysis, 20 cities that witnessed a decline in prime residential prices in Q2 2020 - nine were in Europe, seven in Asia, two in Australasia, one in the Middle East, and one in Africa. The Prime Global Cities Index, an unweighted price index of prime residential prices across 45 cities, increased by 0.9%; recording the lowest rate of annual growth in 11 years. According to the report, 67% of the global cities registered flat or positive yearly price growth; Australasia recorded the strongest performing world region in the year to Q2 2020, and the Asian prime residential prices declined by 0.2% in the three months to June 2020.

Manila,leads the index with prime home prices rising by 14.4% over the 12 months to June 2020, followed by Tokyo (8.60%) and Stockholm(4.40%). Bangkok was the weakest-performing global city in the year to June 2020, with luxury home prices falling by 5.8%.

While Bengaluru and Mumbai moved up by one place in Q2 2020; Delhi gained five places in the same period.

Shishir Baijal, Chairman and Managing Director at Knight Frank India, said, “The pandemic infused economic stress has engulfed the global markets with a fear of uncertainty. Ultra-rich buyers around the world are seen deferring the high premium purchase of a prime residential asset class and preferring investments in liquid assets, primarily gold and cash equivalents. With the expected price correction and uptick in sentiment depending on the news related to vaccine discovery, buyers with adequate liquidity will find value to enter the prime residential asset class in India.”

Key Highlights:

* Bengaluru’s prime residential market performed better than Mumbai and Delhi. Globally, the city ranked 26th with 0.6% annual price change for the period Q2 2019 – Q22020;with 0.00% price change in Q2 2020compared to the previous quarter.

* Delhiranked 27th with 0.3% annual price change for the period Q2 2019 – Q2 2020. The city saw a flat 0.00% price change in Q2 2020 compared to the previous quarter.

* Mumbai ranked 32ndwith -0.4% marginal annual change for the period Q2 2019 – Q2 2020. The city registered a price decline of -0.50 % in Q2 2020 compared to the previous quarter.

* Manila ranked 1st with 14.10%annual change for the period Q2 2019 – Q2 2020. The city saw a flat 0.00% price change in Q2 2020 compared to the previous quarter.

* Bangkok ranks 45th with -5.8% %annual change for the period Q2 2019 – Q2 2020. The city registered a price decline of -1.40% in Q2 2020 compared to the previous quarter.

Hiring in India Picks Up 35 percent from April to June: LinkedIn

LinkedIn, the world’s largest online professional network, today announced findings of the ‘Labour Market Update’, a monthly update on hiring trends and insights based on LinkedIn's Economic Graph, a digital representation of the Indian economy.

While the world continues to navigate different stages of the coronavirus, LinkedIn’s Economic Graph team has been closely monitoring the pandemic's disruptive impact across the global labour market. These findings are crystallized into the LinkedIn ‘Labour Market Update’, which highlights the hiring rate in India, overall hiring sentiment across industries, competition for securing jobs, and the top jobs and skills in demand. Findings show that there has been a significant hiring rebound as the country started 'unlocking' and more people returned to work. However, the pace of these gains are expected to slow down given the continued economic uncertainty.

1.    Between early-April to end-June, hiring increased by 35 percentage points: In India, hiring declines reached a low of below -50% year-on-year in April, before starting to slowly recover.  The hiring sentiment stands at -15% year-on-year as of the end of June. As risks of second-wave of infections emerge, some states have imposed lockdown measures again. Given this uncertainty, the recovery is expected to remain fairly flat in the coming weeks. 

*The analysis looks at the year-on-year changes in hiring rate, which is a measure of hires divided by LinkedIn membership. The analysis was conducted for the period of 11th Feb to 30th June 2020. 

Data also suggests that the gap between hires for males and females has narrowed from about 40 percentage points in February to around 30 percentage points in June.

This trend is observed across all sectors except for Manufacturing, Finance and Software & IT.

2.  Competition for jobs is heating up: Competition for jobs has doubled compared to 6 months ago, with the average number of applications per job posted on LinkedIn increasing from around 90 in Jan 2020, to 180 in June 2020.

3.  Recreation & Travel and Retail professionals are more likely to look for jobs in a different sector, compared to pre-COVID period: Compared to the pre-COVID period, data suggests that job seekers who are currently in the affected sectors (such as Recreation & Travel) are 6.8 times* more likely to look for jobs in a different sector, compared to pre-COVID times. Data further suggests that those in the retail sector are 2.4 times* likely to apply for a job in a different sector. The analysis looks at how job seekers in different industries are adapting to changes and adjusting their jobs search strategy. 

*The measure here calculates the likelihood that a member in a certain sector has applied for a job in a sector different to their own in June 2020 (post-COVID) compared to June 2019 (pre-COVID). A score of 2 here would suggest that a member in Industry A is twice as likely to apply to a job in an industry outside of Industry A. 

4.  The demand for disruptive skills tops the charts in June 2020: The Labour Market Update also highlights roles that are in demand today and are expected to remain relevant in the near future. These roles have the greatest number of job openings on LinkedIn, have seen steady growth over the past four years, pay a liveable wage, and require skills that can be learned online.

These are the top 5 in-demand jobs and skills:

1.    Jobs: 

·         Software Engineer

·         Business Development Manager 

·         Sales Manager 

·         Business Analyst

·         Content Writer

2.     Skills:

·         JavaScript

·         SQL 

·         Sales Management 

·         Team Leadership 

·         Recruiting

Brigade Group Announces Q1 FY21 Financial Results Operational Highlights (Q1FY21)

Residential

Achieved 0.4 mn sq ft. of new sales in Q1 FY21 valued at Rs. 250 Crore vs 1 mn sq ft. valued at Rs. 593 Crore in the corresponding quarter of the previous year

Realization per sft has gone up by 14% compared to the same period in the previous year

Jasper Block at Brigade El Dorado of 0.62 mn sft launched during the quarter

Strong pipeline of 16.24 mn sq ft. and upcoming 2.06 mn sq ft. to be launched in FY21

Lease rental:

Leasing segment for offices remains stable with over 95% collections

Construction of the Brigade Twin Towers development has commenced

Hospitality:

All hotels are operational with Ministry of Home Affairs and State Government protocols in place

Average occupancy of 11% due to impact of COVID-19 & lockdown

All non-essential capital expenditure and renovation has been deferred to reduce cash outflows

Various cost saving measures taken including reduction of manpower costs of about 40% and reduction of about 70% in other overheads during the quarter

Financial Highlights:

Consolidated Performance Q1FY21 vs Q1FY20: 

Total Revenues at Rs.214 crores vis-à-vis Rs. 717 crores

EBITDA at Rs. 58 crores vis-à-vis Rs. 191 crores

EBITDA margin at 27%

PAT/(Loss) after Minority Interest at Rs. (53 crores) vis-à-vis profit of Rs. 41 crores

Commenting on the results, Chairman & MD Mr. M.R Jaishankar said, “While this quarter was  impacted by COVID-19, our continued focus on digital marketing,  online booking of apartments  and collections have yielded results even though most of the first quarter was under lockdown.    Despite the pandemic, our total collections for the quarter was Rs. 376 crores. The rental collections from Office in the Leasing Segment is stable. Although the biggest impact has been in the hospitality and retail segment, all efforts are being taken to improve their performance and we are positive that these segments will normalize soon.”

COVID-19 Impact & Outlook

Company outlook:

Construction has resumed at 30% labour strength post unlock 1.0 & has now crossed 50%. We expect to reach 100% by end of Q3 FY21

Green shoots are visible in residential business with a pickup in enquiries and sales

Office business remains stable with 95% collections, retaining a positive outlook

Business in malls and hotels will pick up gradually along with the improvement in economy

Brigade has a strong balance sheet and is in a good position to manage operations while maintaining liquidity to meet business obligations

Industry outlook:

Rate reduction by RBI and consequent low rate of interest for housing loans is a big positive

Adequate liquidity in the economy has helped restrict the damage

Recent announcement by RBI to allow banks to restructure loans in impacted sectors is a step in the right direction

Economy is expected to rebound in the later part of the calendar year; however, GDP contraction is expected for the financial year

Operational Impact:

Construction activity was impacted because of intermittent lockdowns

Lower revenue recognition in real estate segment was due to government office shutdowns

Malls and Hotels underperformed because of the lockdown, travel restrictions and weak consumer sentiment

Collections were impacted because of the reasons mentioned above though partially mitigated by prudent capital expenditure and reduction in overheads

Relief & Efforts:

John’s Health Centre at Brigade Meadows was inaugurated on June 24, 2020

Donation for purchase of an ambulance by St. John’s

Donation for purchase of prefabricated 5 bed ICU module to K C General Hospital

Donation for purchase of ventilator to Sri Vasavi Hospital

Dry ration to more than 3000 families in Bangalore

Sustenance allowance provided to migrant workers and supported them with ‘dry rations

80,000 Meals provided during lock down period

Workers engagement programmes viz. exercises, aerobics, yoga, as well as workers’ counselling

Awards and Recognitions:

Brigade Enterprises Ltd. has been recognised as one of India’s Top 100 Best Companies to Work For 2020, in one of India’s largest workplace study conducted by the Great Place to Work®️ Institute and The Economic Times.

This year, Brigade Enterprises Ltd has been "Ranked 43", in the coveted Top 50 category, across companies. Brigade Enterprises Ltd also has the distinction of being among India’s Top 100 Best Companies to Work For, 10 years in a row.

Brigade Hospitality Services Ltd. has been ranked 3rd amongst India’s Great Mid -Size Workplaces in 2020 by the Great Place to Work Institute and The Economic Times.

Manipal Hospitals Salutes Mamtaz Begum’s Unflinching Approach in Fighting Covid19

As India celebrates its 74 years of Independence on August 15, as a patient centric organization, Manipal Hospitals will showcase its patriotism in a responsible way. Manipal Hospitals Old Airport Road will grace this occasion along with its COVID warriors who are fighting to get freedom from the invisible enemy.

Ms. Mamtaz Begum from Manipal Hospitals Nursing team is a real COVID Warrior and recognizing her valiant efforts, the hospital has given her the privilege to hoist the flag along with all other COVID warriors and the management team. 

Ms. Mamtaz Begum is a living proof of a responsible and sensible citizen. She is a frontline warrior with 26 years of experience. She has gone through tough times in her life as well as during this pandemic.

Ms. Begum was a student of Manipal and started her career at Manipal Hospitals Old Airport Road. Her personal journey started when she fell in love with a Muslim boy and was trying to convince her parents. Fortunately, her parents have agreed and she married her love of life in 1996 and changed her name as well. Her life took a complete twist in 2016 when she was diagnosed with high Creatinine. The news came as a shock to everyone in her family as both her renals were damaged.

Dr. Viswanath S, HOD & Consultant - Nephrology, Transplant Physician, Manipal Hospitals Old Airport Road advised her that she had to undergo renal transplant. Mamtaz has had an immense support from Manipal Hospitals financially as well as professionally. Her husband and her two sons stood like a pillar during this journey. Her renal transplant done at Manipal Hospitals, Salem was successful and she was recuperating well. She was aware of the plight of her health conditions; yet continued to lead a cheerful life by staying positive.

Destiny had something else in store and life took a U-turn once again in her life during these unprecedented times. She was serving all the vulnerable amongst us and performing her duty professionally as a Nurse. She was diagnosed as a COVID Positive and her family was shattered as she also had underlying disease.

Mamtaz once again stood the test of times and fought this battle positively and came out as a COVID SURVIVOR.

Mr. Deepak Venugopalan, Regional COO, Bengaluru & TNN Cluster, MHEPL said, “Colleagues like Mamtaz are a huge inspiration for all of us. They put their duty and patients before themselves. Glad that she got her independence from Covid and who better than her to hoist the flag on 15th August.”

She would like to thank Manipal Hospital’s entire Management for being with her during all odd times and giving her moral support. Her mantra in life is to stay strong and to be positive for any tough battle. She has joined back her duty and has stepped up to help others, putting the country’s needs before everything else, even her family members.

Ms. Mamtaz Begum has stood tall against all odds and is indeed a great role model for others to follow.

 

Toyota Kirloskar Motor Salutes the Indian Armed Forces Through their ICARE Initiative

In its pursuit to bring about a positive change to the community and enrich lives, Toyota Kirloskar Motor (TKM) concluded its 16th ICARE outreach initiative today, coinciding with the 74th Independence Day. ICARE, an employee volunteer initiative of TKM which is designed to bring the employees and their families together to make a difference in the community. 

Not allowing the current pandemic to dampen their spirits, over 100 TKM employees and their families came together virtually through an e-enabled platform this Independence Day to pay tribute to the indomitable spirit of the Indian soldiers guarding our borders across Leh and Ladakh. The e-enabled event was graced by the honourable guest speaker, Air Vice Marshal B K Murali [Retd], who was a part of the Kargil War in 1999. He shared insights on the current scenario and selfless contribution of warriors who are at the forefront to save our lives.

The core theme of this initiative was to send a message of gratitude, love and best wishes to our soldiers at Leh, Ladakh, who guard our borders day and night. Towards this end, as a part of this initiative, the employees and their families sent out handmade eco-friendly Rakhis and greeting cards that will be handed over to the soldiers posted in Leh, Ladakh via the Army Post Office (APO) Northern Command. In addition, a video message was also sent for the soldiers.

Expressing his thoughts on this occasion, Mr. Vikram Gulati, Country Head & Senior Vice President, Toyota Kirloskar Motor said, “The bravery, spirit and enthusiasm of the armed forces to protect their motherland India is unparalleled and any tribute to this valour and devotion is not enough. Through our ICARE initiative, we pay our tribute to the soldiers by honouring them with a token of gratitude.

ICARE program has created a platform for employees to come together and make a difference in the community. The initiative actively engages employees and strives to enhance their understanding on numerous societal issues, contributing to address vital needs within TKM’s CSR framework. We are happy to see such energetic participation of our employees and their family members who are emerging as ‘Social Transformers’ in each ICARE activity. With this, we intend to expand the horizon of serving the society with our holistic approach.”

‘ICARE’– an employee voluntary initiative, is an effort aligned with the company’s commitment to sustained community development.  TKM believes that it is important for the employees to align with our morals and principles to make key contributions to the nation and society at large. This drive actively involves the employees and strives to enhance their understanding on various societal issues, contributing to address vital needs within TKM’s CSR framework. Since its launch in 2017, ICARE has grown manifold and managed to create a large impact in the society which benefited more than 40,000 lives. Currently, more than 700 employees have been registered under TKM’s ICARE initiative. So far, TKM has implemented 15 ICARE activities in the area of Education, Environment, Road Safety, Skill Development, Disaster Management and supporting special children by creating massive transformation in the society and providing enriching experience to employees every time.

Toyota Kirloskar Motor will further continue its various CSR activities keeping the development perspective of socio-economic structure of the society, providing aids to many individual’s lives to make a difference in their livelihood.

Mahindra Unveils All-New Thar: The 4x4 Icon is Now a Contemporary, World-Class SUV

Mahindra & Mahindra Ltd., a part of the $19.4 billion Mahindra Group, today unveiled the All-New Thar, the most eagerly awaited and legendary SUV, on the occasion of India’s 74th Independence Day. In its all-new avatar, the Thar is a quantum leap in terms of performance, everyday comfort & convenience, technology and safety, as it stays true to its core promise of unmatched off-roading capability and builds on its iconic design.

Unveiling the All-New Thar, Dr. Pawan Goenka, MD & CEO, M&M Ltd said, “Today, with the unveil of the All-New Thar, we rewrite history once again. The All-New Thar is firmly rooted in our rich automotive heritage and upholds the Mahindra DNA in its purest form. We are proud of our authentic SUV legacy that has been guarding the freedom of this nation by serving the armed forces since the 1950s, while simultaneously becoming the spirit of adventure and a lifestyle icon. The All-New Thar is a dynamic expression of fun, freedom and independence, and is geared up for its next adventure”.

The All-New Thar will not only attract die-hard Thar enthusiasts, but also appeal to all those people who have always dreamt of owning an iconic vehicle, with all the bells and whistles of a contemporary SUV. 

The All-New Thar has the following exciting features:

·         All-new BS-6 compliant Engine options: The 2.0 litre mStallion TGDi Petrol engine and the 2.2 litre mHawk Diesel engine

·         New Gearbox options: 6-speed torque converter automatic transmission & 6-speed manual transmission mated to an authentic manual shift-on-the-fly 4x4 transfer case

·         All-new Roof options: A Hard Top, a first-in-class Convertible Top and an optional Soft Top

·         All-new Seating options: 4 front-facing seats & 2+4 side-facing seats

·         All-new Technology Features: Drizzle resistant 17.8 cm touchscreen infotainment system, cruise control, adventure statistics display and a whole lot more

·         All-new Comfort and Convenience Features: Sporty front seats, roof-mounted speakers and lots more

·         New Safety Features: ABS + EBD, Dual airbags, ESP with rollover mitigation, Hill-hold and hill descent control and a whole lot more

According to Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, M&M Ltd., “The All-New Thar will enhance the appeal of a brand that is already a cult, to a wider set of consumers. It will target people who seek extraordinary journeys and wish to Explore the Impossible. The All-new Thar will be launched on 2nd October, 2020 which is also our Founders Day”

Veejay Nakra, CEO, Automotive Division, M&M Ltd. said, “The Thar has represented the spirit of freedom, thrill and fun-to-drive character that few other vehicles can match. With the All-New Thar, we aim to protect this legacy with superior performance both on and off the tarmac, advanced technology features, excellent safety and everyday ride comfort, all adding to the unadulterated driving pleasure of a true-blue modern SUV.”

Ever since India became a free nation, ‘The Mahindra Classics’ have enabled Indians to explore new worlds and conquer even the most challenging terrains. For over seven decades now, The Mahindra Classics have shared a close bond with India’s story and the unveil of the All-New Thar on the momentous occasion of our country’s Independence Day is a significant milestone in taking this journey ahead.

As Ralph Waldo Emerson, the renowned poet said, “Do not go where the path may lead; Go instead where there is no path and leave a trail.” The All-New Thar allows you to do just that.

Designed and engineered in India and manufactured out of Mahindra’s Nashik Plant, the All-New Thar will be available in 6 exciting colours, Red Rage, Mystic Copper, Napoli Black, Aquamarine, Galaxy Grey and Rocky Beige.

upGrad’s New TV & Digital Campaign is a Clarion Call to the 100M Indian Workforce to Grow with Specialisation & Not with Licking

upGrad, India’s largest online higher education company, unveils its latest mass media campaign, which can be considered as one of the most clutter-breaking & bold campaigns done by a brand in the recent past. The TV commercial, featuring a donkey, draws from the cultural insight that in the corporate world, everyone wants to climb the ladder and choose various ways to get ahead - one of the most common being the tendency to ‘lick ass’.

Shot in Estonia, the humorous yet charming film has been developed by the creative agency, The Womb & has been directed by Shashanka Chaturvedi, a.k.a Bob, co-founder & director, Good Morning Films, who has worked on close to 100 ads in India and won two Gold Lions at Cannes - the first by an Indian filmmaker and a Grand Prix at Spikes Asia, the upGrad's film marks the first in his career where he directed the shoot crew, including the endearing animal, remotely from Goa, where he has been shooting ads since a month now. 

“Our primary objective is to define the kind of education upGrad provides, that is not constricted by the mode of learning - which just happens to be online. The next ambition was to compellingly summarise all the types of courses we provide - post-graduate degrees, certifications and diplomas. We chose the word ‘degree’ because in India, the concept of a ‘degree’ holds emotional and practical heft across all socio-economic classes. While degrees are available a dime a dozen, the conflict occurs when they tend to be generic, outdated and from not so credible institutions, that are ultimately not valued by employers. Thus, the genesis of ‘Sirf naam ki nahin, kaam ki degree’ - upGrad’s promise to provide outcome-oriented specialisations that help learners to achieve the ROI on education – job/profile switch, increment or promotion, in other words, Employability” said Arjun Mohan, CEO - India, upGrad.

Talking about the campaign, Kawal Shoor, Co-Founder, The Womb said, “upGrad and The Womb got together a few months back to start working on building its brand and business in India. COVID-19 has hastened the need for edtech as a category. upGrad is a very substantive brand in the midst of many lightweight educational institutions that have mushroomed all over India. It has a great culture, knows how to teach, and has tie-ups with some of the best universities in India, and the world. It can fulfil the learning needs of working professionals and undergraduates. We had to bring its various offerings under one, clear positioning idea for the brand that stems from and can influence culture. This spot introduces that idea, along with a clear proposition for working professionals."

"upGrad's Data Science and Management programs for working professionals have great pedigree with tie-ups with institutions like IIIT Bangalore, IIT Madras, and Deakin Business School. To make this resonate culturally, we borrowed from culture - work/corporate culture to be specific. We uncovered a very rich insight - in organisations, those who're not good enough to find other means to rise. We built our proposition around this insight. What was even more challenging was to find a way to execute this in a lockdown - so what you'll see, are Indian-origin actors from the UK, performing in an office in Estonia, being remotely directed from a villa in Goa. The clients at upGrad have to be complimented for believing,” added Navin Talreja, Co-Founder, The Womb.

The performance-driven media planning on TV channels is being executed by the agency DCMN and on OTTs and Google platforms by Tatvic Analytics. The mass media campaign will also be complemented by narrative-driven influencer campaign on social media, which the company officials has not revealed yet. In partnership with HTTPool & Twitter India, upGrad also has rolled out an emoji campaign wherein one of the key brand attributes (KBA) - a red arrow moving upwards will be automatically added to upskilling related hashtags when tweeted by any user worldwide during the campaign period.