Hilton Signs Strategic Licensing Agreement With Olive By Embassy To Bring 150 Spark By Hilton Hotels To India

Signing with Olive by Embassy marks the category-disrupting brand’s debut in Asia Pacific and is poised to rapidly accelerate Hilton’s growth in South Asia

Leading global hospitality company Hilton (NYSE: HLT) today announced the signing of a strategic licensing agreement (SLA) with Olive by Embassy to open 150 Spark by Hilton hotels across India, marking the brand’s debut in Asia Pacific. The agreement comes as a result of Hilton’s long-standing partnership with The Embassy Group, owners of Hilton Bengaluru Embassy Manyata Business Park and Hilton Garden Inn Bengaluru Embassy Manyata Business Park. This agreement reinforces Hilton’s ambitious growth in South Asia and brings a new premium economy brand to the dynamic Indian market. The first Spark by Hilton hotels will open in Southern India with a focus on Maharashtra, Andhra Pradesh, Telangana, Goa, Karnataka and Tamil Nadu. 

“This landmark signing with Olive by Embassy underscores Hilton’s bold ambition in and long-term commitment to South Asia,” said Alan Watts, president, Asia Pacific at Hilton. “Spark by Hilton will address a gap in the Indian market, offering affordable stays without compromise, and capturing unmet demand for value and consistency across major and smaller cities. Not only will this partnership set the stage for record-breaking growth, but it also positions Hilton to achieve a commanding presence in one of the world’s largest lodging markets.”

Launched in 2023, with 100 hotels at various stages of development, Spark by Hilton is the fastest launch-to-open brand in Hilton’s history. The conversion-friendly, premium economy brand is aimed at the aspirational and value-seeking traveler and is renowned for delivering reliable essentials and friendly service for every guest at an accessible price point.

Spark by Hilton hotels in India will be characterized by thoughtful simplicity and reliable service. The public spaces will feature multi-functional seating from communal tables to rocking chairs, offering plenty of options for guests to enjoy breakfast, socialize or work throughout the day. Spark by Hilton will add value to the guest experience by offering a complimentary breakfast, featuring local items, so guests can fuel up before hitting the road. The brand will also offer a 24-hour retail market for on-the-go travelers.

As travel demand surges and the middle-class segment in India rises, Hilton plans to scale its focused service brands, such as Spark by Hilton, exemplifying the company’s dedication to bringing hotel brands that cater to every guest and every stay occasion. The brand will join Waldorf Astoria and Curio Collection by Hilton as newly introduced brands into South Asia, expanding the company’s portfolio in the region to eight distinct brands.

“We are committed on expanding our presence in South Asia,” said Kevin Jacobs, chief financial officer & president, Global Development, Hilton. “Rapid middle-class formation continues to take place across this dynamic region, where we see tremendous long-term growth prospects for Hilton. Following international debuts for Spark in the United Kingdom and Canada, there is a compelling opportunity for the brand’s flexible model, coupled with Hilton’s powerful network and commercial engine, to capitalize on the fast-growing premium economy segment in India. Alongside our longtime partner, The Embassy Group, we look forward to accelerating Hilton’s growth across this key market and welcoming many new guests into our network.”  

Jitu Virwani, Chairman & Managing Director, Embassy Group, said, “Today’s agreement marks an important step forward in our partnership with Hilton. Spark by Hilton is the ideal brand to capitalize on the country’s growing middle-class, its infrastructure investment push, and its burgeoning hospitality sector. With Embassy’s deep understanding of the market, and the local expertise of our franchise partners, we believe that this is the beginning of an exciting journey to redefine the premium economy segment.”

Hilton’s recent signings across its luxury, full-service, and focused-service segments underscore the strength of its brand portfolio as the company expands into India’s major states and cities. Notable signings include the introduction of the award-winning Curio Collection in Bengaluru, Jaipur’s first Conrad, and the entry of the Hilton flagship brand into Udaipur and Lucknow. Waldorf Astoria in Jaipur, anticipated to open by 2027, further highlights the appeal of Hilton’s luxury offerings and reinforces the company’s commitment to growth in Tier II and III cities. 

Kahraman Yigit, Co-founder & CEO, Olive by Embassy, says, “We are seeing a huge demand in the country for premium economy accommodation and reliable quality stay experiences. This gap is currently unmet. With no other product quite like it in the premium economy segment, Spark by Hilton is a much-needed, consistent brand that will provide an impetus for the overall market to grow. We believe that this disruptive offering is the right one for investors, developers, and owners looking to maximize their returns.”

In 2024 alone, Hilton has made significant strides across South Asia. The company made its debut in Nepal with the opening of Hilton Kathmandu and expanded its full-service portfolio with the opening of DoubleTree by Hilton Whitefield. Hilton Gurugram Baani City Centre, Hilton Garden Inn Surat, and Hilton Garden Inn Jabalpur are also on track to open by the end of the year.

Hilton’s accelerated growth in South Asia is fueled by its award-winning workplace culture, which positions the company as an employer of choice, attracting and retaining top talent in the industry. Hilton was recently recognized as the #1 Company to Work For in India by ‘Great Place to Work’ for the second consecutive year, and remains the only hospitality company in the market to achieve this prestigious recognition in both 2023 and 2024.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 24 world-class brands comprising more than 8,300 properties and over 1.25 million rooms, in 138 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history, was named the No. 1 World’s Best Workplace by Great Place to Work and Fortune and has been recognized as a global leader on the Dow Jones Sustainability Indices for seven consecutive years. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 200 million Hilton Honors members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, X, LinkedIn, Instagram and YouTube. 

About Spark by Hilton

Spark by Hilton is a premium economy hotel brand at the intersection of value and consistency. Spark provides a reliable and comfortable stay with friendly service for every guest, all at an accessible price. Spark hotels provide a welcoming sense of arrival with colorful accent walls and inspiring artwork. The public spaces provide multi-functional seating, from communal tables to rocking chairs, and guest rooms are comfortable and relaxing with simple, streamlined furniture. In the morning, travelers can enjoy a complimentary signature bagel bar and premium coffee.?Spark’s groundbreaking impact on the hotel industry is credited with Hilton’s recognition as one of Fast Company’s 2024 Most Innovative Companies. Experience a positive stay at Spark by Hilton by booking at sparkbyhilton.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about at Spark by Hilton at?stories.hilton.com/spark. 

About Olive by Embassy

Introduced in 2019, Olive by Embassy is the hospitality and co-living wing of the Embassy Group, one of India’s leading real estate developers. Olive is a multi-brand hospitality tech operating platform with multiple revenue avenues from management, design, and technology. With a vision to organise and institutionalise the accommodation market in India and beyond, Olive’s mission is to become the largest hospitality company in India. Olive has four brands — Olive Life, Olive Zip, Olive Hotel, and Villas by Olive — — and 65 signed and operational properties ranging from co-living and budget stays to luxury resorts, hotels, and villas. Each Olive property operates both short-term and long-term stays while providing the comfort of home with the flexibility of a hotel. To know more, visit us at www.oliveliving.com.

About Embassy Group

Embassy Group is a leading real estate developer. The over 70 million square feet of commercial, residential, industrial and warehousing, hospitality, services, retail, and education spaces we have delivered emphasize high standards of quality, world-class services, environmental management, and safety. Founded in 1993, our operations now span the Indian and international markets of Bengaluru, Chennai, Hyderabad, Thiruvananthapuram, Mumbai, Pune, the NCR and Serbia. Our 45 million sq. ft. of ready and ongoing residential developments encompass branded residences, uber-luxury villas, exclusive villaments, sky condominiums, integrated developments, senior living, and contemporary homes. Embassy is a sponsor of India’s first publicly listed and Asia Pacific’s largest Real Estate Investment Trust (REIT). We strive to build a resilient ecosystem and proactively foster the social, economic, and environmental development of the communities we work in. Further information is available at www.embassyindia.com.

Tata Motors Launches Automated Manual Transmission Truck, The Prima 4440.S AMT, In The Kingdom Of Saudi Arabia

* Showcases five top-of-the-line, high-performance cargo mobility solutions at the HEAT show in Dammam

Tata Motors, India's leading multinational automobile manufacturer, launched its first automated manual transmission (AMT) truck, the Tata Prima 4440.S AMT, in the Kingdom of Saudi Arabia. Based on its flagship platform, the Prima 4440.S AMT is built with the company’s global expertise to deliver unmatched reliability and performance. Equipped with a powerful drivetrain, robust aggregates and a comfortable cabin, the new truck perfectly blends driver comfort and fuel efficiency to offer higher productivity and profitability to its customers. Additionally, Tata Motors showcased five of its high-performance products at the Heavy Equipment and Trucks (HEAT) Show in Dammam, which are designed and engineered to suit the country’s requirements and cater to a wide variety of applications.

Unveiling Tata Motors’ HEAT show pavilion, Mr. Anurag Mehrotra, Head, International Business, Tata Motors Commercial Vehicles said, “Saudi Arabia is a key region for Tata Motors, where we have proudly established a strong presence and are serving the customers for decades. As the Kingdom undergoes rapid transformation, we remain committed to supporting its evolving mobility needs with our advanced solutions. With a strong focus on innovative technologies, reliability and customer profitability, we are proud to launch our first Automated Manual Transmission truck in the Kingdom. We are confident that its world-class reliability, performance and smart features will aid the country’s ambitious growth aspirations and offer long-term value for our customers.”

Tata Motors’ range of trucks are complemented by comprehensive value added services, provided in partnership with its official distributor, Mohamed Yousuf Naghi Motors Co. Customers across the Kingdom will benefit from a wide network of service touchpoints, skilled technicians, and easy access to Tata Genuine spare parts that maximise vehicle uptime and enhance overall customer satisfaction.

Commenting on the expansion of the Prima range, Mr. Azeem Khan, Managing Director, Mohamed Yousuf Naghi Motors Co, said, “Our successful partnership with Tata Motors allows us to bring to our customers reliable, products developed as per the evolving needs of the Kingdom. With the introduction of the Prima 4440.S AMT we remain committed to providing exceptional after-sales support, ensuring seamless operations for our customers. We will continue to deliver the highest level of service, backed by our strong service network and dedicated teams, to keep our customers' businesses moving forward.”

Tata Motors’ advanced solutions at HEAT show: 

• Prima 4440.S AMT – Built to offer fatigue-free long-haul transport ensuring high driver comfort

• Prima 4440.S – Prime mover suited perfectly for container, cars and heavy equipment transportation

• Prima 4040.T – Blends comfort with productivity and apt for fuel, water and sewage transportation

• Prima 4040.K – Engineered for heavy-duty application in infrastructure and construction segments 

• Ultra T.7 – Engineered to suit contemporary demands of urban transportation

The Prima 4440.S AMT is perfectly suited for container, car carrier and heavy equipment transportation. Along with its fuel-saving and durable automated transmission, it comes with several smart features such as Load Based Speed Control System, Shift-Down Protection system, Vehicle Acceleration Management system, Auto Start-Stop system to offer higher fuel efficiency. Its Euro-V compliant 8.9-litre Cummins engine generates 400bhp and 1700Nm of torque to ensure there is ample power available to handle the heaviest loads, toughest terrains and the steepest gradients. The flagship truck is fitted with pneumatic suspension for enhanced ride & handling and higher durability. The modern cabin, equipped with pneumatically suspended seat and tilt-and-telescopic steering wheel, adds to the driver comfort and convenience, thus increasing productivity.

Tata Motors offers a wide commercial vehicle portfolio in over 40 countries, spanning sub-1-tonne to 60-tonne cargo vehicles and 9-seater to 71-seater mass mobility solutions. Backed by Tata Motors' advanced R&D capabilities, these vehicles are robustly engineered and rigorously tested to suit local market requirements. 

About Tata Motors

Part of the USD 165 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 44 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups,  trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.

With operations in India, UK, South Korea, Thailand and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2024, Tata Motors’ operations include 90 consolidated subsidiaries, two joint operations, five joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.

About Mohamed Yousuf Naghi Motors Co

With a legacy spanning over 35 years, Mohamed Yousuf Naghi Motors Company has become a benchmark of excellence in Saudi Arabia’s automotive sector. As the exclusive representative of prestigious international brands, it offers a diverse range of vehicles and services, tailored to meet the evolving demands of the Kingdom’s market. Backed by a comprehensive network, Mohamed Yousuf Naghi Motors delivers top-tier service through technical expertise and personalized care, establishing itself as a trusted name for automotive solutions across the region. In alignment with Vision 2030, the company is dedicated to fostering strong customer relationships and driving continuous innovation in the industry.

Prestige Group Wins Prestigious Sustainability Awards: GRESB Recognition And IGBC Green Champion Title

Prestige Group, one of India’s leading real estate developers, has been honored with two prestigious accolades for its commitment to sustainability initiatives— GRESB (Global Real Estate Sustainability Benchmark) recognition and the Indian Green Building Council (IGBC) Green Champion Award. These awards reaffirm Prestige Group’s unwavering commitment to sustainable development and innovative practices across its office ventures.

GRESB recognized Prestige Group’s performance in environmental, social, and governance (ESG) practices, ranking its Mumbai office ventures as a Regional Sector Leader. Additionally, the IGBC Green Champion title highlights the Group's leadership in driving green building initiatives, with several of its Existing and under-development office parks certified as environmentally sustainable.

Commenting on the achievement, Mr. Juggy Marwaha, CEO, Prestige Group, Office, said, Prestige Office Ventures has always been a pioneer in redefining workspace standards. Winning these awards reflects our commitment and dedication to building high-performance buildings (HPB) that are future-proof sustainable office spaces that meet the evolving needs of businesses while focusing our energies on environmental consciousness in the built environment.”

Adding to this, Mr. Nirbhay Lumde, Sr. VP, ESG, Prestige Group, said, "These recognitions are a testament to Prestige Group's commitment to embedding sustainability in every facet of our operations. From innovative design strategies to operational efficiencies, we remain steadfast in creating spaces that balance economic value with environmental stewardship.”

Prestige Group’s office portfolio includes some of India's most iconic and eco-conscious developments, designed to foster productivity and sustainability. With this recognition, Prestige Group continues to set new benchmarks in responsible real estate development, aligning with its long-term vision of creating greener, carbon-reduced office buildings and aiming towards net zero high-performance buildings.

About Prestige Group:

Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments, viz., Residential, Office, Retail, Hospitality, Property Management, and Warehouses with operations in more than 13 major locations in India. The Group has completed 302 projects spanning a developable area of 193 mn sft as of September 2024. The company has been graded CRISIL DA1+ by CRISIL and enjoys a credit rating of ICRA A+.

Aesthetic Dermatological Care Provider Assure Clinics Raises Rs 15 Crore In Seed Round

Assure Clinics, an innovative healthcare provider revolutionizing the dermatological and hair restoration landscape, has raised Rs 15 crore in a seed round from India’s leading integrated incubator Venture Catalysts, Sathish Subbiah, Founding Partner of Fiducia Capital LTD, DIFC, Dubai, and Indresh Shah of Honor's Group UAE.

Founded by Dr. Abhishek Pramod Pilani and Dr. Priyanka Pilani, Assure Clinics has established itself as a frontrunner in providing innovative dermatological and hair restoration services through its network of 15 centers across India and Dubai.

The company offers a comprehensive range of services, including advanced hair transplantation techniques, skin treatments, and specialized hair and skincare products, serving a growing patient base with a team of over 250 employees.

The company's comprehensive service offerings include advanced hair transplantation techniques such as Follicular Unit Extraction (FUE) and Direct Hair Implantation (DHI), alongside innovative treatments like Platelet-Rich Plasma (PRP) therapy and mesotherapy. Their skin treatment portfolio encompasses acne treatment, anti-aging solutions, laser treatments, and various other specialized procedures.

Assure Clinics is positioned in a rapidly expanding market with significant growth potential. The hair transplant market in India, estimated at USD 180 million in 2022, is projected to reach USD 560 million by 2032, growing at a CAGR of 12%. The global haircare market is expected to reach USD 211.1 billion by 2032, with a CAGR of 10.4%, while the skincare market is anticipated to grow at a CAGR of 6.68% during the same period. Moreover, India's medical tourism industry is expected to reach USD 35 billion by 2027, driven by cost-effective treatments and state-of-the-art facilities.

Dr Apoorva Ranjan Sharma, Cofounder and Managing Director, Venture Catalysts, said, “Assure Clinics represents the convergence of healthcare excellence and market opportunity in India's growing aesthetics sector. The company's impressive track record of serving patients across 15 centers, combined with their innovative treatment approaches and strong leadership team, positions them perfectly for rapid scaling. With India's hair transplant market alone projected to reach USD 560 million by 2032, we see immense potential in Dr. Pilani's vision of creating a global network of premium dermatological care centers. This investment aligns with our strategy of backing companies that are transforming traditional sectors through innovation and excellence.”

Dr. Abhishek Pilani, Founder of Assure Clinics, said, “At Assure Clinics, we view this fundraising journey as a vital step toward amplifying our mission to transform lives through exceptional hair and skin care. With the support of our investors, we are poised to enhance our innovative services, expand our reach, and invest in cutting-edge technologies that will redefine patient care. Together, we are committed to fostering an environment of trust, excellence, and compassion, ensuring that every individual receives the confidence-boosting treatments they deserve. We are grateful to our investors for believing in our vision and joining us in this exciting venture.”

The seed funding will enable Assure Clinics to further expand its presence in key markets, enhance its innovative service offerings, and strengthen its position as a leader in the dermatological and hair restoration industry. The company plans to focus on technological advancement and geographical expansion while maintaining its commitment to personalized patient care.

As the demand for high-quality dermatological and hair restoration services continues to grow, driven by increasing disposable income and greater awareness of personal care, Assure Clinics is well-positioned to capitalize on these opportunities while maintaining its focus on patient satisfaction and clinical excellence.

About Venture Catalysts

Venture Catalysts is India’s first integrated incubator. It typically invests $250K – $2 Mn in early-stage start-ups with the potential to create enduring value for over a long period of time. Founded in 2016 by Dr Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain, Venture Catalysts has invested in over 300+ startups since inception. The cumulative valuation of the startups invested by Venture Catalysts is $10 Bn+. Venture Catalysts has its presence across 55 cities in 9 countries and is one of the most active early stage investor globally.

Goldmedal Electricals Partners With Pushpa 2, Amplifying Brand's Core Values

Following the release of the Pushpa 2 trailer, Goldmedal Electricals, one of India's leading Fast Moving Electrical Goods (FMEG) companies, announces its association with the film. This strategic partnership marks a significant milestone for Goldmedal, as it aligns the brand with the film's themes of resilience, determination, and overcoming challenges.

The Goldmedal brand has been seamlessly integrated into the movie, with the brand's products featuring in certain key scenes. This integration blends seamlessly, mirroring the film's themes, while also underscoring the reliability and resilience of Goldmedal products. This collaboration highlights Goldmedal’s dedication to support powerful narratives that inspire and resonate deeply with people.

“We are extremely excited to celebrate our association with the most anticipated films of the year- Pushpa 2,” said Kishan Jain, Director, Goldmedal Electricals. "This partnership showcases our commitment to aligning with strong stories. We are excited to use this collaboration to connect with our audience in new ways, enhancing our engagement and reinforcing the values we share with them."

Speaking about the association, Producer Mr. Y Ravi Shankar from Mythri Movie Makers, said "Pushpa 2 is a cinematic phenomenon that resonates with millions of viewers, not just in India but globally. We are thrilled to collaborate with Goldmedal, a brand celebrated for its world-class electrical products. Both the Pushpa franchise and Goldmedal share a common vision of pushing boundaries and delivering excellence, making this partnership a perfect blend of storytelling and innovation."

Through this collaboration, Goldmedal aims to enhance its brand visibility and connect with a wider audience, reinforcing its position as a leader in the electrical goods industry.

To view the trailer please visit:

T Series: https://www.youtube.com/watch?v=1kVK0MZlbI4

Mythri Movie Makers: https://www.youtube.com/watch?v=g3JUbgOHgdw

About Goldmedal Electricals

Goldmedal Electricals is a home-grown electrical company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. The company is known in the industry for manufacturing high quality wiring devices and introducing a host of innovations in the industry. The company has manufacturing units in Vasai outside Mumbai, Bhiwadi in Rajasthan, and Vijayawada in Andhra Pradesh. It is one of the few companies in the industry to have a completely in-house, state-of-the-art tool room and testing facility. Today, the company manufactures a vast range of electrical products including various types of Switches, Home automation systems, LEDs, Fans, Geysers, Security Systems, Entertainment devices, Doorbells, Wires, Cables, DBs and more for residential buildings as well as commercial establishments.

Navayuga Engineering Achieves New Operational Heights With Xpedeon ERP Solutions

* #DigitalTransformation #ERPsolutions #Xpedeon #ConstructionTech

Xpedeon, a leading provider of construction management software, proudly announces the successful one-year implementation of its ERP (Enterprise Resource Planning) solutions at Navayuga Engineering Company Limited. Faced with challenges from previous ERP systems, Navayuga sought a powerful, highly scalable and robust enterprise-wide solution. By partnering with Xpedeon, the company has increased operational efficiency, improved collaboration, and streamlined project management, marking a critical milestone in its digital transformation journey.

Navayuga Engineering Company Limited (NEC), the flagship firm of the Navayuga Group, is a leader in the core infrastructure and engineering sector. Before partnering with Xpedeon, Navayuga relied on separate and siloed systems for financial accounts and other operations, with key project activities like contracts and budgeting handled manually. With Xpedeon’s suite of integrated system purpose built for the Engineering & Construction industry, Navayuga has gained a competitive edge by optimizing its operations, achieve total digital transformation across their engineering and infra business.

Janak Vakharia, CEO, Xpedeon said, "Partnering with Navayuga underscores the transformative impact that customized ERP solutions can have on infrastructure enterprises. The improvements in data transparency, project management, and collaboration highlight the potential for technology to drive strategic growth and enhance operational agility in today’s competitive landscape."

Navayuga, handling high value projects, needed a system that could scale alongside their business growth. Xpedeon’s ERP provided crucial project visibility—especially in areas like budgeting, subcontractor management, procurement, and equipment planning—allowing the company to address previous bottlenecks and inefficiencies. Over the past year, Xpedeon's ERP platform has played a pivotal role in transforming Navayuga's workflows, fostering seamless interdepartmental cooperation, and facilitating better decision-making through real-time insights.

The implementation of Xpedeon’s ERP system has brought Navayuga greater control over project finances, streamlined processes, and eliminated data silos. The system's versatility and robust capabilities have allowed the company to handle complex projects with greater efficiency and accuracy.

Mr. Sai Mani Kiran Chinta, ERP Head at Navayuga commented, “The transition to Xpedeon’s ERP system has been transformative for our digital evolution. The flexibility and power of this system have reduced operational bottlenecks caused by legacy systems and empowered our teams to make better, faster decisions. Xpedeon’s platform is helping us stay ahead in a rapidly changing industry.”

The synergy between Navayuga and Xpedeon has been crucial to overcome the constraints of the previous systems.

Rents Surge 7.4% QoQ Across Major Cities, Rental yields Increase To 3.62%: Magicbricks

Magicbricks, India’s leading real estate platform, published its latest Rental Update, highlighting that between July and September 2024, average rents increased 7.4% quarter-on-quarter (QoQ) across 13 major Indian cities[1] to INR 35.8 per square foot per month- the highest increase in the l       ast 2 years.

Chennai recorded the sharpest increase at 22.2% QoQ, moving from INR 17.94 psf in Q2 2024 to INR 26.91 psf in Q3 2024. Delhi and Thane also saw significant jumps, with Delhi’s average rent rising 11.4% QoQ to INR 37.55 psf and Thane’s rent increasing 10.9% QoQ to INR 33.10 psf.

According to the report, Mumbai remains the priciest rental market at INR 86.50 psf per month, followed by Delhi at INR 37.55 psf and Navi Mumbai at INR 33.83 psf. Meanwhile, developing markets of Greater Noida (INR 15.48 psf), Noida (INR 21.32 psf), and Kolkata (INR 22.14 psf) are more affordable.

Elaborating on the same, Prasun Kumar, Chief Marketing Officer, Magicbricks "This year, rental demand has shown a strong quarter-on-quarter surge, driving rents to the sharpest increase we've seen over the past eight quarters. It's evident that ready-to-move apartments are increasingly being purchased for self-use, contributing to a decline in rental supply. Meanwhile, the rise in under-construction supply suggests potential for market balance in the coming quarters, as more inventory becomes available."

The report detailed that after a notable increase of 14.8% quarter-on-quarter (QoQ) in rental demand during the previous quarter (April to June 2024), the demand continued to increase, albeit at a slower pace of close to 2%. However, the supply of rental properties has not kept pace, declining by 6.7% QoQ in the third quarter (July to September). This imbalance between demand and supply has contributed to the upward pressure on rental prices.

The report concluded that gross rental yields across 13 cities reached 3.62%. Ahmedabad led with the highest yield at 3.9%, followed by Hyderabad, Kolkata, and Pune at 3.7% each. Chennai saw the largest QoQ yield growth at 21.3%, with Delhi, Hyderabad, and Navi Mumbai also reporting strong increases at 8.8%, 5.4%, and 5.3% respectively. However, Greater Noida, Gurugram, Kolkata, Mumbai, Noida, and Pune recorded declines as property price growth outpaced rental rate growth.

Source: Magicbricks Research