Sunteck Realty Limited Announces "Operational Update For Q2 FY22"

* Pre-sales grows by 55% qoq & 36% yoy to Rs 272 cr 

* Collections grows by 20% qoq & 47% yoy to Rs 207 cr 

* Collection efficiency stood strong at 85% of Pre-sales in H1 FY22 as against 68% in H1 FY21 

Sunteck Realty Limited announced its Q2 FY22 financial results.  In the second quarter of FY2022, the company has continued its robust operational momentum achieved in the first quarter of FY2022. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The company’s focus on execution of its existing portfolio complemented by strong in-house development capabilities has been an enabler in maintaining the sustained growth in cash flows. With projects across the pricing spectrum in MMR, the company is confident to maintain the sturdy growth in pre-sales driven by new launches as well as ready-to-move-in inventory.    

In the second quarter of FY2022, the company also announced a value –accretive joint development plan with Amar Dye Chem Ltd. at Shahad (Kalyan). The 50-acre project with a potential development of approx.10 mn sq ft, is expected to generate a top line of around Rs 9,000 crore over the next 7-8 years. This will further strengthen the cash flow and the balance sheet of the company. 

Sunteck has been a key beneficiary of the market consolidation in the residential sector, allowing it to expand its business portfolio at attractive return opportunities. In the last 18 months, Sunteck has done 4 project acquisitions at Vasai, Vasind, Borivali and Shahad (Kalyan) adding approx.18 million square to its project portfolio. Going forward, the company expect to leverage its brand franchise and management expertise to continue to evaluate new growth opportunities and thereby increasing overall market share.  

About Sunteck Realty 

Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. SRL has an immaculate track record of having one of the lowest net Debt/Equity ratios, financial prudency and sustainable growth. The company focuses on a city centric development portfolio of about 38 million square feet spread across 19 projects. Sunteck Realty has differentiated its projects under five brands - ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial & Retail developments. The company has been a trendsetter in creating iconic destinations such as the flagship project, Signature Island at Bandra Kurla Complex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon - the largest township of MMR’s western Suburbs. 

MAHE To Inaugurate Manipal Centre For Biotherapeutics Research (MCBR)

Manipal Academy of Higher Education (MAHE) is a top-ranking private university in India with 25 professional Higher Educational Institutions, 9 university teaching departments and over 100 specialized centres. MAHE is going to inaugurate “Manipal Centre for Biotherapeutics Research” (MCBR) on 15th October 2021 from 10:00 - 11:00 am. MCBR will be India’s first research centre to promote translational research based on Academia and Industry engagement model. The main areas of research are cell, gene, protein, nano / biomaterial therapeutics. The centre will offer two years Masters (by research) program from the academic year 2022-23, and Ph.D. and Postdoctoral programs from the current year.   

This new centre will facilitate Pharma and Biopharma companies to carry out collaborative research with the state of the art infrastructure and skilled human resources. Companies can also establish collaborative research units at this centre or outsource potential translational research projects to the centre. “We are in the advanced stages of discussion with the pharma and biopharma companies from India as well as abroad on translational research collaboration” read the statement from Dr Raviraja NS, Director Corporate Relations, MAHE who is also the Coordinator of MCBR.

The Centre will be inaugurated by Mr Anurag Bagaria, Chairman and CEO, Kemwell Biopharma, Bengaluru. Mrs Vasanti R Pai, Trustee, MAHE Trust will be the Chief Guest for the function. Dr Ranjan R Pai, Chairman, MEMG; and Lt Gen (Dr) M D Venkatesh, Vice Chancellor of MAHE will be the guests of honour. Dr H S Ballal, Pro Chancellor of MAHE will preside over the function.

You may join the function using the link: https://youtu.be/fJpOBt66BNY

ADIF Seeks Interim Relief From CCI Against Google's Controversial New PlayStore Policy

The Alliance of Digital India Foundation (ADIF) has filed a petition before the Competition Commission of India (CCI) through their lawyers at Sarvada Legal seeking interim relief from Google’s new PlayStore policy which goes into effect from March 2022. The matter is already being looked into by the CCI for potential abuse of dominance by Google in the app market.  

This relief has been sought by ADIF on behalf of App developers as Google’s new policy will restrict certain categories of apps to use only Google Billing System (GBS) for accepting payments. This would be an issue for app developers because GBS charges 30% commission for all transactions on the Google Play Store, compared to 2% charged by other payment processing systems. There is a strong case for seeking such relief as this new policy, when it goes into effect next March, would have a destructive effect on the operating margins of a large number of startups and make their business models infeasible. 

The CCI had in November 2020 directed a probe by the Director General into the issue of mandatory use of Google Play Store’s payment system for paid apps & in-app purchases. The commission is of the prima facie view that such a policy is unfair as it restricts the ability of app developers to select a payment processing system of their choice. 

In its petition to the commission, ADIF, which represents the interests of various stakeholders such as startups, app developers, etc. and espouses the objective of improving the startup ecosystem of the country, has stated that the 30% commission charged by Google is extremely high and unfair. However, the organization said that the core issue is the mandatory imposition of the Google Play Billing system and the exclusion of other methods of payment. 

“This will have a disastrous effect on India’s digital ecosystem by reducing choices available in the hands of app developers and users as well as harming the country's innovation ecosystem by disrupting the cost structures and margins of multiple industries,” it said. 

While ADIF will support the ongoing inquiry by the Director General into the matter, it has been compelled to move the application for interim relief to protect the choice of app developers to use other payment systems with far more favorable terms of service. Google’s new policy will exclude competing payment service providers from the market for payments for digital goods consumed through Android devices.  

“ADIF foresees that barring an order passed by this Hon’ble Commission to maintain  status-quo until the completion of the ongoing inquiry, Google shall proceed to enforce its terms on the Play Store, thereby leading to adverse and irreversible consequences on India’s fledgling startup ecosystem,” said Sijo Kuruvilla George, Executive Director, Alliance of Digital India Foundation. 

Murugavel Janakiraman, the Founder and CEO of Matrimony.com, said: “The matter is not as much about the percentage of commission charged as it is about the anti-competitive practice of forcing a payment option as well as of forcing out other payment providers. If not kept in check, such anti-competitive policies and gatekeeper commissions will be imposed on more and more categories, causing a disastrous effect on competition and prices in India.” 

ADIF believes that if the status quo is not maintained pending the completion of the inquiry, Google will enforce its terms on the Play Store in March 2022, leading to irreversible consequences for India’s startup ecosystem. 

About Alliance of Digital India Foundation 

The Alliance of Digital India Foundation (ADIF) is a think tank for India’s digital start-ups formed to fully capitalise on the sector’s promise with the objective of its long-term prosperity in mind. ADIF's mission is to transform the Indian startup ecosystem into among the best in the world while upholding the essence of the Indian startup playbook or the Indus Valley Playbook and ensuring that it emerges as a strong alternative to the dominant Silicon Valley Playbook. ADIF now is an alliance with more than 422 startups. 

Peak Performer Launches A Leadership Development App For Managers, To Help Them Scale In Their Organizations

* The iOS/Android app provides managers access to personal coaches and delivers comprehensive development insights on their smartphones.

Peak Performer is a tech-enabled leadership development platform that helps companies upskill managers at all levels. The platform integrates customized 1:1 coaching, continuous learning, assessment and behavioral growth. The startup recently raised a pre-seed round led by Antler India.

Peak Performer announced the launch of its new app that enables a more intelligent and automated coaching journey, with continuous learning embedded at its core. The app introduces Micro-tasks which breaks down leadership development goals into manageable micro tasks over topics such as strategic thinking, effective communication, managing difficult conversations amongst others. In addition, managers can also access “on-demand” coaching with behaviour psychologists, and receive  actionable frameworks for specific behavioral areas or organizational challenges. Currently the platform offers a curated marketplace of 150+ specialized coaches across various verticals.

By breaking down personal insights into detailed, manageable micro-tasks that are available and completed outside coaching hours, and inbuilt tools like Progress Measurement, Scheduling and Messaging, Peak Performer aims to turbo-charge 1:1 coaching for deeper impact and a continuous learning experience. The app also allows managers to measure performance as they execute on their goals, while helping align these to organization-level goals and outcomes.

To ensure the conversations between the coach and the learner remain confidential, the organizations receive anonymised and quantitative data to measure the efficacy of coaching while a comprehensive report is shared with the learners on the app.

Research shows that growth and development programs for executives are most effective when they are hyper-personalized to individual needs. Peak Performer seeks to close the skill gap in organizations by helping managers discover their strengths, as well as identify and grow out of their shortcomings.

Aishwarya Goel, Founder and CEO, PeakPerformer says, “We strongly believe coaching to be the core and starting point for all people development goals for an organization. We focus on an outcome-driven coaching approach, with learning pathways designed to deliver tangible outcomes. We’ve seen learners on the platform achieve 80% of their set goals. Within the first six months of the coaching journey, professionals are able to achieve a 12%-15% increase across skill sets like strategic thinking, shared vision, leadership and effective communication.”

Trusted by people leaders at Societe Generale, CRED, UrbanLadder, Wingify, Omnivation and other high-growth companies, the app is helping hundreds of people managers accelerate and future-proof their careers. Peak Performer is moving the needle from a need-based learning mindset to an interactive, holistic learning experience that boosts individual and team performance while radically reducing workforce burnout. In the near future, the startup plans to broaden its product portfolio, introduce more professional development modules and scale the use of AI in intelligent coach matching.

About Peak Performer:

Peak Performer is a tech-enabled leadership development platform that helps companies upskill leaders at all levels. A full-stack solution, Peakperformer uses 360 degree data to design a unique coaching journey for each manager, tying outcomes to both organizational and individual goals. Peak Performer’s pre-seed round was led by Antler India. Co-investors in the round include Gaurav Munjal (Co-Founder & CEO, Unacademy Group) and Saket Agarwal (Angel Investor & Founder, Onnivation).

About Antler:

Antler is a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. The firm has offices globally across most major entrepreneurial hubs, including in London, Berlin, Stockholm, New York, Singapore and Sydney.

Founded in Singapore in 2017, Antler is on a mission to fundamentally improve the world by enabling and investing in the world's most exceptional people, by supporting the teams with deep business model validation and providing a global platform for scaling. To date, Antler has invested in over 350 companies globally across 30 different industries. Of these companies, 40% have at least one female co-founder, and the founders represent 70 nationalities.

Nitin Sharma and Rajiv Srivatsa are Partners at Antler India, and Co-founders for the Antler India Fund.

AU Shopping Dhamaka Offers More Savings On Festive Shopping Spends

* Exciting offers across 500+ brands at platforms like Amazon, Myntra, Yatra, Oppo, BigBasket, etc. 

* AU Bank festive deals are exclusively available on AU Bank Debit & Credit Cards 

* Attractive interest rates on Car Loans and Home Loans 

* 100 percent waiver on processing fees for Gold Loan 

AU Small Finance Bank, India’s largest Small Finance Bank, announces the mega festive offers for its customers across the nation. The AU Shopping Dhamaka offers till 7th November 2021. 

With offers across 500+ brands, AU Bank has partnered with leading brands across categories like Shopping, Electronics, Travel, Dining, Wellness etc. to offers discounts & cashback on AU Bank Debit & Credit Cards. These offers are available on Amazon, Myntra, Yatra, MakeMyTrip, JioMart, Domino’s, Ola, BigBasket, Oppo, Realme, Croma, EazyDiner, etc. along with over 700+ hyper-local merchants’ tie-ups. 

The month-long shopping carnival includes limited period loan offerings such as a 100 percent waiver on processing fees for gold loan (on the loan value of Rs 2 lakhs and above) and waivers on processing fees on an Agri loan by 0.20% and 0.50% on a secured business loan and 50% on the vehicle loan. The festive offer further comes with attractive interest rates on car and home loans as well. 

On the launch of the 3rd edition of AU Shopping Dhamaka, Mr. Uttam Tibrewal, Executive Director, AU Bank said, “We received an upbeat response to our previous editions of Shopping Dhamaka. Our brand partners also experienced a surge on their platforms as we help them reach the untapped customer base. I feel immense pride in mentioning the fact that our footprints in in deeper pockets have not just helped us but also our business partners to grow. With partnerships across major leading brands in India, we expect our customers to further enhance spending during the festive season this year too or to say ‘Celebrate Dil Kholke’.” 

Mr. Mayank Markanday, Chief of Credit Card Business, AU Small Finance Bank, added, “This year of AU Shopping Dhamaka is extra special as we have recently introduced AU Bank Credit Cards for our esteem customers. This is the first festive season for AU Bank Credit Card customers and to make something special we have come up with a lot of exciting offers and value propositions. We have curated the offers basis the spending pattern to ensure a healthy wallet share and amazing offers to customers across ecommerce and offline merchants.  

Considering there are big-ticket purchases during this period our customers can avail Instant EMI @POS at select large merchant outlets like Croma (A TATA Enterprise), Reliance Digital & Vijay sales, further customers can avail complimentary insurance to protect their big-ticket purchases. AU Credit Card customers can avail of offers across Travel, Jewelry, Apparel, Electronics & Appliances, Dining and Grocery categories. 

As most of our card’s users are first-time credit card holders, features on the card and the festive offers will empower our customers to LIVE LIMITLESS. Our offers are aligned with our recent marketing campaign ‘Badlaav Humse Hai’ stating “Credit Card for everyone”.” 

About AU Small Finance Bank:  

AU Small Finance Bank Limited (AU Bank) is a scheduled commercial bank and a Fortune India 500 Company. Starting its journey from the hinterlands of Rajasthan, today AU Bank is the largest Small Finance Bank with a deep understanding of the rural and semi-urban markets that has enabled it to build robust business model facilitating inclusive growth. With 25+ years legacy of being a retail focused and customer-centric institution, AU started its banking operations in April 2017 and as on 30th June 2021, it has established operations across 758 Banking Touchpoints while serving 20.2 Lakh customers in 15 States & 2 Union Territories with a employee base of 23,486 employees. The Bank has a net worth of ₹ 6,490 Cr, deposit base of ₹ 37,014 Cr and Loan AUM of ₹ 36,635 Cr. AU Bank enjoys the trust of marquee investors and is listed at both the leading stock exchanges viz. NSE and BSE. It has consistently maintained a high external credit rating from all major rating agencies like CRISIL, ICRA, CARE and India Ratings. 

Peak Performer Launches A Leadership Development App For Managers, To Help Them Scale In Their Organizations

* The iOS/Android app provides managers access to personal coaches and delivers comprehensive development insights on their smartphones.

Peak Performer is a tech-enabled leadership development platform that helps companies upskill managers at all levels. The platform integrates customized 1:1 coaching, continuous learning, assessment and behavioral growth. The startup recently raised a pre-seed round led by Antler India.

Peak Performer announced the launch of its new app that enables a more intelligent and automated coaching journey, with continuous learning embedded at its core. The app introduces Micro-tasks which breaks down leadership development goals into manageable micro tasks over topics such as strategic thinking, effective communication, managing difficult conversations amongst others. In addition, managers can also access “on-demand” coaching with behaviour psychologists, and receive  actionable frameworks for specific behavioral areas or organizational challenges. Currently the platform offers a curated marketplace of 150+ specialized coaches across various verticals.

By breaking down personal insights into detailed, manageable micro-tasks that are available and completed outside coaching hours, and inbuilt tools like Progress Measurement, Scheduling and Messaging, Peak Performer aims to turbo-charge 1:1 coaching for deeper impact and a continuous learning experience. The app also allows managers to measure performance as they execute on their goals, while helping align these to organization-level goals and outcomes.

To ensure the conversations between the coach and the learner remain confidential, the organizations receive anonymised and quantitative data to measure the efficacy of coaching while a comprehensive report is shared with the learners on the app.

Research shows that growth and development programs for executives are most effective when they are hyper-personalized to individual needs. Peak Performer seeks to close the skill gap in organizations by helping managers discover their strengths, as well as identify and grow out of their shortcomings.

Aishwarya Goel, Founder and CEO, PeakPerformer says, “We strongly believe coaching to be the core and starting point for all people development goals for an organization. We focus on an outcome-driven coaching approach, with learning pathways designed to deliver tangible outcomes. We’ve seen learners on the platform achieve 80% of their set goals. Within the first six months of the coaching journey, professionals are able to achieve a 12%-15% increase across skill sets like strategic thinking, shared vision, leadership and effective communication.”

Trusted by people leaders at Societe Generale, CRED, UrbanLadder, Wingify, Omnivation and other high-growth companies, the app is helping hundreds of people managers accelerate and future-proof their careers. Peak Performer is moving the needle from a need-based learning mindset to an interactive, holistic learning experience that boosts individual and team performance while radically reducing workforce burnout. In the near future, the startup plans to broaden its product portfolio, introduce more professional development modules and scale the use of AI in intelligent coach matching.

About Peak Performer:

Peak Performer is a tech-enabled leadership development platform that helps companies upskill leaders at all levels. A full-stack solution, Peakperformer uses 360 degree data to design a unique coaching journey for each manager, tying outcomes to both organizational and individual goals. Peak Performer’s pre-seed round was led by Antler India. Co-investors in the round include Gaurav Munjal (Co-Founder & CEO, Unacademy Group) and Saket Agarwal (Angel Investor & Founder, Onnivation).

About Antler:

Antler is a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. The firm has offices globally across most major entrepreneurial hubs, including in London, Berlin, Stockholm, New York, Singapore and Sydney.

Founded in Singapore in 2017, Antler is on a mission to fundamentally improve the world by enabling and investing in the world's most exceptional people, by supporting the teams with deep business model validation and providing a global platform for scaling. To date, Antler has invested in over 350 companies globally across 30 different industries. Of these companies, 40% have at least one female co-founder, and the founders represent 70 nationalities.

Nitin Sharma and Rajiv Srivatsa are Partners at Antler India, and Co-founders for the Antler India Fund.

TVS SCS Raises INR 590 Crore From A Fund Managed By Exor

* Funds to be used for future growth and for transformational initiatives

TVS Supply Chain Solutions (TVS SCS), one of the World’s leading providers of Integrated Supply Chain Solutions which includes Global Forwarding and Last Mile, today announced that it had raised INR 590 cr from a fund managed by Exor, the Europe-based leading diversified holding company controlled by the Agnelli family (www.exor.com). 

TVS SCS will use the fund to grow its business, further strengthen its technology capability, and for other transformational initiatives. Earlier this year, Exor, through another fund managed by them, had invested in Ki Mobility Solutions – a subsidiary of TVS Automobile Solutions.

Mr. R. Dinesh, Managing Director, TVS Supply Chain Solutions, said, “The investment by Exor reiterates TVS SCS’ growth potential and our vision. Supply Chain as a sector in India is expected to grow in double digits and TVS SCS will leverage its tech-enabled Global solutions to outgrow the industry. I am confident that this investment will significantly add value to our business and provide the necessary impetus to achieve our growth potential.”

Rothschild & Co. partnered with TVS SCS on this transaction in line with the strategic vision of the organisation. Khaitan & Co. and Nishith Desai Associates acted as counsel to TVS SCS and Exor respectively for this deal.

About TVS Supply Chain Solutions

TVS Supply Chain Solutions (TVS SCS) is a leading Indian multi-national company, with the experience to address Supply Chain challenges for international organisations, Government departments, large and medium-sized businesses through its fully integrated service offerings. It provides a range of supply chain services from Integrated Supply Chain Solutions to Global Forwarding and Last Mile Solutions tailored to its customers’ needs.

TVS SCS has grown both organically and through strategic acquisitions to become a fully integrated Global Supply Chain solutions provider with over 18,000 dedicated employees. The organisation has been able to deliver value to its customers in every country of its presence, through continuous innovation, differentiation, and quality of service. It serves customers in over 50 countries covering India, UK & Europe, Americas, Asia Pacific and Oceania.