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Archive: December 27, 2023

Elevate Your Skincare and Haircare routine with beauty supplements from Beautywise

Beautywise

Beautywise, a leader in innovative beauty supplements, introduces a trio of revolutionary products designed to elevate your skincare and hair care regimen the dual-action capsule range consists of Skin Resilience Ceramides & HA in Veg Omega-3 Oil, Skin Brilliance 500mg Glutathione in Evening Primrose Oil and Hair Rescue Keratin & Biotin in Avocado Oil bring together advanced dual-action technology and a unique blend of potent ingredients for unparalleled results. All of these supplements boast advanced technology, combining oil-based and water-based ingredients for better absorption. The carefully curated ingredients, including Collagen, Glutathione, Ceramides, Hyaluronic Acid NAC, NAD+, Astaxanthin, Selenium, Copper, DHT Balancers, and more, showcase Beautywise’s dedication to creating formulations that address various aspects of skin and hair health and are becoming a favourite amongst dermatologists and skin care practitioners.

Beautywise has introduced three state-of-the-art products, each originating from thorough research and development, manufactured in the US FDA register and GMP-compliant manufacturing facilities. These groundbreaking solutions, derived from meticulous research and development efforts, are positioned to revolutionize the skincare and haircare arena, guaranteeing unmatched results. The products include-

Skin Brilliance 500mg Glutathione & NAC in Evening Primrose Oil:

Introducing Beautywise Skin Brilliance is developed with antioxidants, vitamins, amino acids, and active extracts in a nourishing oil, this formulation is designed to impart radiant and uniformly toned skin. The potent antioxidant blend of 500mg Glutathione (GSH) and NAC collaborates to enhance Glutathione levels in the body, resulting in a complexion that is brighter and more even-toned. Additionally, they incorporate L-lysine, crucial for collagen production, to sustain a youthful appearance. Evening Primrose Oil (EPO) is also integrated into the formula, providing added elasticity and hydration, ensuring your skin remains smooth and moisturized.

Skin Resilience Ceramides & HA in Omega-3:

In the quest for radiant skin, Beautywise presents a powerhouse supplement that combines the natural lipids of ceramides with the hydrating prowess of Hyaluronic acid. This dynamic duo works synergistically to restore the skin barrier, improve moisture retention, and preserve a youthful, plump complexion making it an exceptional anti-aging supplement. With additional ingredients like Omega-3 and Vitamin E, the formulation promotes smoother, hydrated skin, increases collagen production, and reduces inflammation for a truly rejuvenated look. The supplement also protects against environmental damage which is becoming a necessity in today’s world

Hair Rescue Keratin & Biotin in Avocado Oil:

For those seeking luscious locks, Beautywise introduces a transformative supplement that combines the strengthening effects of Keratin and Biotin with the nourishing properties of Avocado Oil. This innovative blend not only supports hair regrowth and reduces hair loss but also contributes to thicker, longer, and more lustrous hair. The product also balances DHT levels preventing baldness. With a focus on rapid action and advanced dual-action technology, these pills provide a holistic approach to hair rescue. The supplement provides complete hair nutrition from the follicle to the material hair is made of, making it a one-of-a-kind product.

Anousha Chauhan Founder of Beautywiseise says, ”I envisioned a beauty and wellness brand that goes beyond skin-deep, one that embraces the transformative power of science and nature. Beautywise is not just about products; it’s a commitment to crafting innovative formulations that elevate your skincare and haircare experience. We believe that beauty is a journey, and our supplements are the trusted companions on that journey

Shreyansh Chauhan- Founder and CEO of Beautywise says,” Within the dynamic landscape of the beauty market, Beautywise stands as a beacon of innovation and quality. Our commitment is not just to compete but to redefine the market standards, offering transformative and dermatology-led products that resonate with the evolving needs of our discerning consume and the wider professional beauty industry”

My best memory is the whole learning process: Tanvi Gadkari on Campus Beats S3

Taanvi GadkariMumbai, 27 December 2023: Amazon miniTV – Amazon’s free video streaming service, recently premiered the third season of its teen drama series, Campus Beats. Delving deeper into the lives of Ishaan and Netra, the final season concludes their journey amidst dance battles, friendships, relationships, and mystery. Tanvi Gadkari, who portrays the bold and strong Rihanna, shared her thoughts on her character development and her best memory from the show.

“Rihanna is a very strong character; it is written beautifully and has layers to it. Rihanna exudes tremendous boldness and power, and if anyone attempts to challenge her position at the University, she will undoubtedly put them in their rightful spot. Throughout the season, you’ll notice Rihanna revealing her emotional depth, and navigating battles with her mother and boyfriend. Amidst these struggles, her unwavering support comes from her best friend, Ishaan, who stands by her side. Rihanna’s character transforms from strength to embracing her emotional side. This evolution makes her an appealing character, a good-hearted person who values friendships deeply, making her someone you can’t help but love,” she expressed.

On being asked about her favorite memory from the sets, she shared, “I think the fondest memory for me is eating good food on the set. Apart from that I think I have learned a lot in this journey, I’ve gotten a lot better at dancing and I think I can call myself a decent actor now because there was so much training behind it, so many workshops. My best memory is going to be this whole learning process. I am just hungry to learn and explore.”

Campus Beats S3 features Shantanu Maheshwari, Shruti Sinha, Sahaj Singh Chahal, Tanvi Gadkari, Harsh Dingwanii, Tanya Bhushan, Dhanshree Yadav, Teriya Magar, Adnan Khan, and Rohan Pal in pivotal roles. The third season is currently streaming exclusively on Amazon miniTV available on Amazon’s shopping app, on Fire TV, and on Play Store.

Education Leadership Summit 2024- a leadership summit for Indian educators and school leaders

Education Leadership

Delhi, 27th December 2023: Michigan-based UM-Marsal Family School of Education in association with Globestar Consulting Services presents UM-Marsal Globestar Education Leadership Summit 2024, a leadership summit for Indian educators and school leaders. To be held in Mumbai and Delhi from January 28th to February 3rd, the summit will be spearheaded by experienced faculty members from the prestigious Marsal Family School of Education at the University of Michigan and Taubman College of Architecture and Urban Planning.

Conducted across 3 days each in Mumbai and Delhi, the summit will feature workshops, school visits, case studies, and panel discussions and culminate with Education Diligence Awards (EDA) to honor and celebrate excellence in education.

India has about 280 Million school-going children and about 9 Million teachers to cater to them. A report by UNESCO titled “2021 State of the Education Report for India” indicates that India has a shortage of 1 Million teachers. Furthermore, India’s pupil-teacher ratios remain low when compared to other countries. This acute shortage of teaching staff has a direct impact on the quality of education. Additionally, most schools today do not have a trial-tested international framework that can be localised to have a collective teaching practice that is engaging and meaningful for the 21st century. UM-Marsal Globestar Education Leadership Summit has been conceptualized to address the above-mentioned gaps in the Indian education system. The summit aims to involve 120 school leaders across the country to engage in a collaborative teaching and learning process and empower them with the knowledge to positively impact schools and classrooms. On Day 3 of the summit, the concluding sessions are open to 150 educators at each location to ensure broader reach and engagement.

The summit, primarily aimed at school owners, directors, heads of schools, principals, and aspiring educators, will cover topics such as curriculum development, disciplinary literacy and AI, innovative instructional approaches, best practices in school administration, and technology integration. It offers a great opportunity for stakeholders in the education sector to get in-depth insights into creating a vision for their educational institutions. For directors and heads of schools, it serves as an avenue to acquire valuable knowledge to ensure consistent progress, avoid stagnation of their skills, and bridge the gap between their educational objectives and financial sustainability. In addition, for aspiring principals, it will aid in enhancing their skills and help in formulating effective strategies for school management.

Commenting on the event, Elizabeth Birr Moje, Dean, Marsal Family School Of Education, said, “Our mission at Marsal Family School of Education is to enhance the quality of education by carefully identifying and addressing some of the gaps that exist in the current education system. We are thrilled to bring forth our expertise and engage with educators to positively impact the education landscape in India. The summit offers a great opportunity for school leaders to connect, collaborate, and engage in a transformative learning experience”

Dhaval Mehta, CEO and Founder, of Globestar Edutech Pvt Ltd and TNI Career Counselling, said, “ Globestar was founded to assist educational institutions, both schools and universities, to enhance the quality of education they offer and improve the overall student experience and career prospects. Over the last several years, we have created a meaningful difference in the education industry through our services and events. The UM-Marsal Globestar Education Leadership Summit 2024 is yet another step in that direction. We are excited to partner with Marsal Family School Of Education to host a first-of-its-kind education summit in India. I would like to invite schools across India to join us for the event as we explore best practices and innovative approaches to transform education in India. Schools can also nominate themselves for the Education Diligence Awards (EDA) designed to recognize and celebrate excellence in education.

To kick off the summit, a preview took place on December 20th, 2023 to offer an overview of the event. During the session, participants had the opportunity to understand the outcomes and advantages of attending the summit. The introductory session had an active engagement of over 15 schools which included names such as BD Somani International School, DPS Mathura Road, Heritage School Vasant Kunj, Bharati Vidyapeeth School of Excellence Pune, Canadian International School, and several others.

ISB Executive Education & Emeritus launch Certificate in Product Management and Professional Certificate in Product Management Programmes

ISB Logo Mumbai, December 27, 2023: Amidst a dynamic and accelerating economy resulting in market shifts, the demand for adept product managers has surged. According to a report by McKinsey, 85% of product-led companies outperform their competitors in terms of revenue growth. These professionals adeptly steer teams through uncertainties while conceptualising and delivering innovative products that not only meet but surpass customer expectations. To equip professionals to design products and innovative experiences for future-led markets, ISB Executive Education (#1 B-school in India and 39th globally in FT Global MBA Rankings 2023) has launched the ‘Certificate in Products Management’ programme as well as an extensive ‘Professional Certificate in Product Management’ programme. These cutting-edge initiatives are partnered with Emeritus, a global pioneer in offering accessible and affordable high-quality education to individuals and organisations.

The ‘Certificate in Product Management’ programme spans 12 weeks, designed for individuals transitioning into the field, providing a solid career launchpad. It also suits mid to senior-level managers, offering expertise in managing the entire product lifecycle for greater profitability. Moreover, it caters to business heads and entrepreneurs, empowering them to drive product-focused strategies, and enabling informed decision-making and holistic organisational planning.

The ‘Professional Certificate in Product Management’ is a cutting-edge 24-week programme for product managers and leaders who are seeking a better understanding of how successful and effective products are created, launched, tracked, and optimised through core areas of product management. It has been specifically designed for early to mid-level professionals who want to manage new and mature products, from conception to execution and measure performance to drive profitability and for individuals looking to strengthen their foundations and transition into the field of Product Management. It is also curated for business heads and entrepreneurs who want to spearhead the usage of product strategies in their organisations and drive product-focused decision-making and planning.

These programmes integrate innovative product development with business strategy and customer satisfaction, covering AI, robotics, blockchain, design thinking, customer behaviour, market analysis, and the Metaverse, fostering expertise in the product lifecycle, competitive positioning, and market dynamics for success in today’s competitive business world.

The ISB Executive Education’s ‘Certificate in Product Management’ and ‘Professional Certificate in Product Management’ are designed to help product leaders with a structured approach to managing the entire product life cycle, from ideation to launch, ensuring customer satisfaction and strategies to stay relevant in this competitive market. The ‘Certificate in Product Management’ programme has 11 modules, whereas the extensive ‘Professional Certificate in Product Management’ has an extended 23-module syllabus.

These programmes are taught by globally renowned ISB faculty and include hands-on projects, application-based case studies, simulations, masterclasses with leading product managers, and industry-relevant product management cutting-edge tools. They will also help participants gain a deep knowledge of competition analysis, road mapping, prototyping, A/B and A/A testing, MVP and growth hacking, brand positioning and managing product performance and metrics, among others.

The key learnings of this programme include:

  •  Developing a product mindset needed to bring viable products (or services) to market
  •  Defining the problem, a product will solve while mapping the customer’s journey and articulating user personas
  •  Analysing strategies and frameworks for developing, marketing, and selling a product
  •  Evaluating product road mapping and prototyping decisions using various product management techniques and practices
  •  Outlining a plan to create a competitive scalable product using key product development strategies and frameworks

Commenting on the launch of the programme, Mohan Kannegal, CEO, of India and APAC, Emeritus, said, “The role of product managers has become imminent to navigate a dynamic market, curate innovative experiences, design scalable products that are customer-centric and create a unique positioning for them in the market. Product-led growth for companies has become an essential strategy to connect with customers and stay relevant in the market. We are excited to partner with prestigious institutions such as the ISB Executive Education, to bring high-impact programmes that will help professionals develop effective products. These two programmes not only cater to the needs of the current market but also define the future market, by integrating technology and innovation as well as creating disruptive positioning for products in the market.”

The ‘Certificate in Product Management’ programme will commence on 28 December 2023, with a fee of INR 1,40,000 plus applicable taxes. The ‘Professional Certificate in Product Management’ programme will begin on 28 December 2023 and can be enrolled at a fee of INR 2,40,000 + applicable taxes. Upon completing the programme with a minimum 70% score, the participants will be awarded a certificate by the ISB Executive Education and will become a part of the ISB Executive Network.

Tata Chemicals Honoured with International Recognition as Innovative Knowledge Enterprise

Tata Chemicals

Bengaluru, 27 December 2023: Tata Chemicals Limited, one of India’s leading science-led products and solutions companies, has been declared the most outstanding winner of the Global Most Innovative Knowledge Enterprise (MIKE) Award for cultivating and converting their knowledge into superior products, services, and solutions. This recognition comes with a distinguished judging panel comprising 32 international experts representing 19 countries.

Tata Chemicals secured the award for its dedicated focus on innovation and knowledge management. The company fostered a culture of innovation by empowering knowledge workers and promoting strategic, visionary, and transformative leadership. It excelled in meeting customer and stakeholder expectations, in addition to investing in and delivering knowledge-based products, services, and solutions. Tata Chemicals also demonstrated a commitment to effective knowledge practices and systems for knowledge creation.

Talking about this achievement, Dr. Richard Lobo, Head of Innovation, R&D, Business Excellence and Chief Ethics Counsellor, Tata Chemicals Limited, said, “Our mission and vision serve as the bedrock for a focus on Innovation and Excellence, while we serve society through science. This is delivered by our people championing innovations, continuous improvements, and the implementation of knowledge and skills to achieve our strategic objectives. This award symbolises our commitment to fostering a culture of innovation, knowledge, creativity, adaptability, and collaborative learning within the organisation. We are thankful to the jury members for this acknowledgment. Such recognitions are always an encouragement and motivate the team.

The MIKE Award aims to identify the top one hundred global Most Innovative Knowledge Enterprises. Tata Chemicals has made it to this list along with several international players.

GD Goenka University Set to Host GD Goenka Confluence 2023 To Nurture Leadership Excellence

New Delhi, December 27, 2023: GD Goenka University continues its legacy of holistic student development with the announcement of the premier annual conclave, “GD Goenka Confluence 2023.” Themed ”Empowering Leaders of GD Goenka Schools,” the conclave will serve as a strategic platform for attendees to exchange insights and share best practices.

Scheduled from December 27 to 29, 2023, GD Goenka Confluence 2023 will feature a distinguished lineup of personalities from diverse domains. The Chief Guest of the conclave will be Mr. Amitabh Kant, G20 Sherpa and Former CEO of NITI Aayog, Government of India.

The inauguration will commence with a ceremonial lamp lighting and a welcome address from Ms. Bharati Sharma, Senior Director, Academics, GD Goenka Group of Schools. Following this, Mr. Amitabh Kant will deliver the keynote address, setting the tone for the conclave.

As the event unfolds, it will be graced by several eminent personalities, including Renowned actor Mr. Anupam Kher, Legendary cricketer Mr. Kapil Dev, Mr. Himanshu Gupta (Secretary CBSE and Former Director of Education, NCT of Delhi), Indian author and columnist Mr. Chetan Bhagat, Ms. Swati Bhargava (Co-Founder of CashKaro), Actor and comedian Mr. Sunil Grover, Buddhist Guru Chokyong Palga Rinpoche, Yoga and Fitness Expert Dr. Rupesh Kumar, and Famous Mentalist Mr. Sanchit Batra.

”GD Goenka Confluence 2023 is a testament to our commitment to nurturing a comprehensive academic environment that empowers leaders and encourages transformation. It embodies our core values of collaboration, innovation, and excellence, providing a dynamic platform where minds converge, ideas blossom, and new routes to educational leadership emerge. As we unite under one banner, our shared passion and relentless dedication to excellence will drive us towards a better future,” said Mr. Nipun Goenka, Managing Director, GD Goenka Group.

Day one of the conclave will witness Mr. Anupam Kher’s session on “Actualization of Student Aspirations” alongside the release of the 5th edition of the Goenkan Gazette. In addition, Ms. Swati Bhargava will host a session on “Building The Spirit of Leadership and Culture,” followed by team-building activities and a DJ Night with renowned singer Chezin.

On the second day of the event, attendees can look forward to a series of informative sessions encompassing a host of topics, including “Holistic Health through Yoga Practices” by Dr. Rupesh Kumar, “Essence of Education – NEP Focus” by Mr. Himanshu Gupta, “Creativity as the Ultimate Skill” by Mr. Chetan Bhagat, and “Taste Success Once, Tongue Wants More: Transforming Self” by Mr. Kapil Dev.

With a confluence of forward-thinking ideas and transformative concepts, the conclave will empower participants to embrace adaptability, critical thinking, and innovation. This proactive engagement will prepare students to navigate the complexities of the digital age and empower them to thrive in a rapidly evolving global economy.

The concluding day of the GD Goenka Confluence 2023 will culminate with the prestigious Gayatri Devi Goenka Excellence Awards in School Education 2022-2023, followed by a session from Buddhist Guru Chokyong Palga Rinpoche on “Spiritual Quotient” and Mr. Sanchit Batra.

Ayurvedant Redefines Wellness Landscape with Innovative Ayurvedic Offerings

Experience the Power of Ayurveda with Ayurvedant – Where Tradition Meets Modern Wellness for a Healthier Tomorrow!

27th Dec 2023, New Delhi: In the pursuit of a healthier and more balanced life, Ayurvedant emerges as a beacon of preventive care, grounded in the ancient wisdom of Ayurveda. Founded on the principle that prevention is superior to cure, Ayurvedant prioritizes holistic well-being for the mind, body, and soul. The brand’s mission centers on providing affordable access to premium Ayurvedic products, catering to diverse age groups and genders. Unlike the traditional approach of turning to medicinal remedies only in times of illness, Ayurvedant advocates for a proactive stance on health.

What sets Ayurvedant apart is its alliance with the esteemed Baidyanath Research Foundation (BRF), boasting over a century of Ayurvedic expertise. With products manufactured in WHO-GMP certified facilities, Ayurvedant ensures consistency through standardized extracts in every batch. The brand takes a modern approach, offering free consultations with doctors and fostering accessibility for millennials and Gen-Z, demystifying Ayurveda for a new era.

Ayurvedant

 

Ayurvedant’s product lineup includes notable offerings such as Cardiwin DS, promoting cardiovascular health, and Diawin DS, aiding in blood sugar regulation. The brand also features a range of 100% natural Ready-To-Drink juices without added sugar or preservatives. Striking a harmonious balance between traditional Ayurvedic principles and contemporary scientific methods, Ayurvedant aligns its product development with ancient texts while adhering to modern quality standards.

The commitment to quality and purity is evident in Ayurvedant’s WHO-GMP certified manufacturing processes and the meticulous sourcing of raw ingredients from specific regions across India. The brand’s dedication to environmental sustainability is reflected in its use of recycled plastic for packaging for majority of their products.

Ayurvedant’s vision, as envisioned by its founder, is to make Ayurveda universally accepted and accessible. Unlike traditional Ayurvedic practices, Ayurvedant adopts a modern and straightforward approach, ensuring its products are available both online and in physical stores, reaching a wider audience.

Ayurvedant

With recent launches like Cannabliss, a hemp-based pain relief oil, and Himalayan Pink Rock Salt, Ayurvedant continues to innovate. The brand’s upcoming additions, including new tea variants like Tulsi & Camomile, and Tulsi, Ginger & Turmeric, showcase its commitment to staying at the forefront of wellness solutions.

For more information about Ayurvedant and its range of Ayurvedic products, visit : https://ayurvedant.com

About Ayurvedant:

Ayurvedant is a wellness brand founded on the principle of preventive health through Ayurveda. Backed by Baidyanath Research Foundation, Ayurvedant offers a range of Ayurvedic products manufactured in WHO-GMP certified facilities. The brand combines traditional wisdom with modern accessibility, making Ayurveda an integral part of a contemporary and holistic lifestyle.

myHQ by ANAROCK Partners With Awfis to add 100+ New Coworking Centers for On-Demand Day Passes

Mumbai, 26 December 2023 – myHQ by ANAROCK, India’s leading platform for flexible workspace solutions, has entered a strategic partnership with Awfis, the country’s largest provider of agile office spaces, to give on-demand access to Awfis’s 100+ centers across the country.

Utkarsh

Utkarsh Kawatra, Senior Director – myHQ by ANAROCK, says, “Under this collaboration, myHQ user base of 100,000 individuals, will now have seamless access to Awfis centers to book on-demand seats and meeting rooms across the country via the myHQ app. Our on-demand solutions are one of the most popular options for professionals who need to get work done in an enabled corporate setting on a short-term or occasional basis. They can book individually or together, a single seat or a meeting room, whatever they need.”

This unique collaboration will leverage the hugely increased post-pandemic pace of the Indian coworking industry. As per myHQ research, since 2017, an astonishing 25 mn. sq.ft. of coworking spaces have penetrated the top 7 cities of the country.

“Today, coworking represents a 21% share of the country’s entire commercial office space sector,” says Kawatra. “In Q3 2023, the top 7 cities have absorbed 10.5 million square feet of office space, of which coworking accounts for a approx. 20% share. The most vibrant coworking hubs in India are currently NCR, Pune, and Bengaluru – but the flex workspace trend is rapidly penetrating even Tier 2 and Tier 3 cities and towns.”

Sumit

Description automatically generated Sumit Lakhani, Deputy CEO – Awfis, says, “We are excited to collaborate with myHQ for our mobility solutions. For us, this becomes another key source of helping a wider audience base experience our services. Our products have been carefully designed keeping in mind the evolving preferences of the new-age workforce and our pricing strategy ensures that people get elevated workspace experience in key micro-markets across cities at a very competitive price. This partnership aligns with our goal to maximize our reach to individuals and corporates across the country.”

Post the Covid-19 pandemic, 70% of Indian companies have adopted various iterations of flexible work models. Coworking spaces have thus become the go-to option for firms and their employees to accommodate their dynamic work approach. More than 50% of startups and fledgling firms with smaller teams find coworking an exceptionally cost-effective solution for hybrid work.

Coworking centers have become a very attractive proposition for businesses, especially startups and companies with smaller teams. The myHQ SaaS platform has already enabled such firms, as well as large corporates who have added flexible work to their traditional office approach, access to 1000+ centers across India.

Q4 propels record-high office leasing activity; at 58.2msf 2023 witnesses 16% YoY growth in demand

• Q4 2023records20.2mn sqft of gross absorption, highest ever quarterly leasing activity
• Bengaluru drives 2023 demand with more than one-fourth share ingross leasing, followed by Delhi NCR & Chennai at around one-fifth share
• Flex space leasing continues to grow, highest leasing in any year at 8.7mn sq ft,
• Large deals (>100,000 sq ft) accounted for 50% of 2023 demand; Space take-upby GCCsbounce back in Q4
• 50.1mn sq ft of Grade A supply infusion in 2023 reflects strong developer confidence
• Vacancyremained rangebound while rentals firmed slightly

 Gurgaon, India, 26 December 2023: Contrary to initial beliefs, 2023 India office market has culminated on a spectacular note with 58.2mn sq ft of gross absorption across the top 6 cities. The last quarter of the year witnessed the highest-ever demand for office spaces in India,withall the three southern cities of Bengaluru, Chennai and Hyderabadregistering best performance since the Covid-19 pandemic. While Bengaluru and Delhi NCRdroveleasing activity during 2023, accounting for about half of the total demand of office space in India, Chennai made it to the top three list for the first time. Furthermore, with more than 2x leasing activity in 2023 as compared to 2022, Chennai breached all earlier highs and recorded 10.5mn sq ft of gross absorption.

 Trends in Grade A gross absorption (in million sq feet)

 City 2023 2022 YoY change Share of Q4

in 2023 gross absorption

Bengaluru 15.6 16.2 -4.2% 35%
Delhi-NCR 11.6 10.8 7.0% 27%
Chennai 10.5 4.6 131.0% 40%
Hyderabad 8 6.5 22.7% 34%
Mumbai 7 7.1 -1.2% 38%
Pune 5.5 5.1 8.9% 36%
 Pan India 58.2 50.3 15.7% 35%

 

Demand (msf)

 
  Q4 2023 Q4 2022 YoY Change
Bengaluru 5.5 3.5 58%
Chennai 4.3 1 338%
Delhi NCR 3.1 1.9 61%
Hyderabad 2.7 1.7 57%
Mumbai 2.6 1.4 87%
Pune 2 1 100%
Pan India 20.2 10.5 92%

Top 5 deals- Q4 2023

Transaction

Quarter

Year City Occupier/Tenant Industry Area leased (sq.ft.) Building Name Micro market Location
Q4 2023 Chennai Bank of America BFSI 1,100,000 DLF Downtown OMR Zone 1 Taramani
Q4 2023 Bengaluru Philips Engineering & Manufacturing 655,681 Embassy Business Hub North Bellary Road
Q4 2023 Bengaluru Wells Fargo BFSI 650,000 Embassy Tech Village – 3B ORR ORR 1
Q4 2023 Bengaluru Qualcomm Engineering & Manufacturing 567,404 Bagmane Capital – Angkor East ORR ORR 1
Q4 2023 Chennai Citi Bank BFSI 503,525 DLF Cybercity MPR Manapakkam

Top 5 deals of 2023

Transaction

Quarter

Year City Occupier/Tenant Industry Area leased (sq.ft.) Micro market Location
Q4 2023 Chennai Bank of America BFSI 11,00,000 OMR Zone 1 Taramani
Q2 2023 Chennai Shell Engineering & Manufacturing 6,67,752 MPR Porur
Q4 2023 Bengaluru Philips Engineering & Manufacturing 6,55,681 North Bellary Road
Q4 2023 Bengaluru Wells Fargo BFSI 6,50,000

 Tech demand rationalizing amidst increasingly heterogeneous office space take-up

 The contribution of tech sector in office leasing has been steadily decreasing from around 50% in 2020 to 25% in 2023. While demand emancipating from techoccupiers rationalized, the overallleasing activity continued to diversify.The sectoral contributions from BFSI and Engineering and manufacturing sectors especially have almost doubled, increasing from 10-12% in 2020to around 16-20%in 2023. Interestingly, in 2023, leasing by Engineering and Manufacturing players (26% share) surpassed the demand emancipating from Technology firms (22% share) in the tech hub of Bengaluru.

 Demand from Flexoperators remained unabated; at 8.7mn sq ft flex spaces uptake in 2023 was 24% higher as compared to 2022.Flex penetration in the Indian office market is expected to rise further in 2024, as developers are likely to adopt core plus flex strategy for decision making.

 Demand Drivers 2023

Sector Area leased

(mnsq ft)

YoY change
 Technology 14.3 -15%
 BFSI 11.2 64%
 Engineering & Manufacturing 9.4 87%
 Flex Space 8.7 24%
 Consulting 4.5 -4%
 Healthcare & Pharma 2.4 47%
 Consumables 1.2 -56%
 E-commerce 1.0 196%
Logistics 0.5
 Others                                5.0 -3%
 Grand Total 58.2 16%

  “The Indian office market not only navigated initial uncertainties but exceeded expectations and emerged successfully, recording an impressive 58 mn sq ft of gross absorption during 2023.Thedemand momentum, particularly as seen during the last quarter, will pave way for an optimistic start to 2024. Notwithstanding unforeseen events, a stable economic outlook augurs well for Indian commercial real estate and office markets will continue to witness steady interest from domestic as well as foreign-origin occupiers.Increasedpreference ofa combination of core and flex real estate space,heightened activity in tier II markets and next-gen offices with more sustainable elements will be the key themes for office markets in 2024.”says Arpit Mehrotra, Managing Director, Head of Office services, Colliers India.

 Resurgence in large deals, as GCCs continue to expand their India footprint

After a brief pause, occupier confidence in business environment has translated into large office space requirements. At around 30mn sq ft., large deals (>100,000 sq ft)have shown an impressive 24% annual growth in2023. Global Capability Centres (GCCs) typically have large space requirements, and they too resumed their expansionary activities with greater fervor towards the second half of 2023, especially in the fourth quarter. Almost 40% of the large deals in the top six cities have come from GCCs, particularly from technology and BFSI sectors.

 “Large sized of 100,000 sq ft or more have contributed to almost 50% of the overall office space demand in India. Interestingly, more than half of the large GCC deals achieved closure in last quarter of 2023, indicating renewed momentum in GCC activity of the country. Large pool of talent, cost-effective rentals, adequateGrade A developments and favorable office market system will continue to uphold India’s vantage positioning from acapability centre perspective. Moreover, healthy demand from domestic firms across technology, BFSI, manufacturing, healthcare and flex spaces will result in equally strong demand of office spaces in 2024.”says Vimal Nadar, Senior Director and Head of Research, Colliers India.

 Healthy supply infusion keep vacancy levels rangebound while rentals firm upslightly
With 50.1 mn sq ft. of new completions, fresh supply across the top six cities rose about 17% YoY, indicating higher developer confidence for near-term space uptake.While Bengaluru accounted for 35% of the new completions in 2023, Hyderabad followed in closely with almost 30% share at an India level.Given strong performance on both demand and supply side, vacancy levels remained rangebound.Average rentals meanwhile increased by up to 5%across most Indian cities.

 Trends in Grade A new supply (in million sq feet)

City 2023 2022 YoY change Share of Q4

In 2024 Grade A supply

Vacancy (%) as on 2023 end
Bengaluru 17.5 10.8 62.90% 39% 17.50%
Hyderabad 14.5 11.4 28.00% 17% 22.70%
Chennai 6.9 4.6 49.60% 51% 16.30%
Delhi-NCR 5.8 7.9 -27.20% 42% 19.90%
Pune 4.3 6.5 -34.50% 46% 14.80%
Mumbai 1.1 1.8 -37.60% 23% 12.30%
Pan India 50.1 43 16.60% 35% 17.40%

Supply (msf)

Supply (msf)
Q4 2023 Q4 2022 YoY Change
6.9 2.7 156%
3.5 0.4 765%
2.4 1.5 64%
2.4 3.4 -30%
0.3 N.A.
2 2 0%
17.4 9.9 75%