World Trade Center Kochi inaugurated Brigade Group’s second WTC in South India

Kochi, November 25, 2016 :  Brigade Group one of India’s leading developers today announced the inauguration ofthe iconic World Trade Center (WTC) Kochi at InfoparkCampus, Kakkanad byShri. Pinarayi Vijayan, Hon’ble Chief Minister of Kerala in the presence of Mr. Ghazi Abu Nahl, Chairman World Trade Centers Association, New York,  Mr. Sivasankar IAS, Secretary, Government of Kerala, Mr. M R Jaishankar, CMD, Brigade Enterprises Limited , Mr. Balaram Menon, President, World Trade Center Kochi and other dignitaries.

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Brigade Group holds the WTC licenses for all the major cities in South India viz. Bangalore, Kochi, Chennai, Trivandrum and Hyderabad.  WTC Kochi is Brigade Group’s second operational WTC in South India after the WTC Bangalore.

World Trade Center Kochi, a licensed member of the World Trade Centers Association (WTCA), New York will showcase the strengths of the region and state in different economic sectors such as Industry, Tourism, Agriculture, Fisheries, Bio Technology, healthcare and others. It will complement the region to expand their businesses globally and contribute to its robust growth with the help of the strong WTC network. The iconic building measuring 7.5lakh sq.ft is spread across two towers, each of 10 storeys.

Mr. Menon, President WTC Kochi said “WTC Kochi will promote the economic region as a global destination for international business and investment by complementing the efforts of the local chambers and associations and help them to traverse the global stage. He also stated it will generate employment for more than 7000 persons”.

Speaking on the occasion Mr. M R Jaishankar, CMD, Brigade Enterprises Limited said, “The WTC Kochi is poised to change the socio-economic scenario of the city and put Kochi prominently on the world map. It promises to change the way office spaces are viewed in the city by providing an international environment to global and Indian IT/ITes companies giving their businesses a real boost.”

 

LAHARI.K.B.

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IIID Design Yatra Day 8 : ​Architects of Bangalore join hands to renovate orphanage in Lalbagh Siddapura​

As part of the  Design Yatra, IIID Bengaluru  along with Guardian of Dreams arranged for a visit to an orphanage in Lalbagh Siddapura for a fun day with the kids of the orphanage. IIID BRC has done a design intervention for the orphanage as a part of their ‘Design for masses’ mission.

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It is a government school which is also home to 35 orphaned children. Since the school lacks basic amenities such as clean as well as enough toilets, the orphaned children residing there are facing acute hardship. IIID BRC proposes to garner funds to refurbish the space so as to improve the living conditions of the children residing there, besides reducing the dropout rates that is becoming phenomenal due to lack of basic amenities in the school. The project interestingly will also involve architects in the form of providing materials that are salvaged from their project sites, so as to send across the message of recycle, reuse.”

The project is underway with major sponsorship from Fundermax and Ram Ceramics to be completed shortly,” informed Ms Shyamala Prabhu, Convenor, Design Yatra and Chairperson Elect, IIID BRC.”

A competition has been floated for  Design students for bunk beds and study tables where the winning entry will be implemented at the shelter home,” added Ms Shyamala.

The fun day today included a football camp for kids where Anil Kumble’s TENVIC sports academy came forward and conducted the camp.

This was followed by an interactive session with the IIID members.

 

LAHARI.K.B.

Vaishnavi Group wins “Developer of the Year award at 2nd Estrade Real Estate Awards in Singapore

Also wins best Admired Upcoming Project for Vaishnavi Gardenia

Bangalore, November 17, 2016: Bengaluru-based premium real estate developers, Vaishnavi Group were declared “Developer of the Year (South) at the recently concluded 2nd Estrade Real Estate Awards in Singapore. Additionally, the brand secured the Best Admired Upcoming Project of the Year, for their project Vaishnavi Gardenia. These top honours were awarded to the Vaishnavi Group, that stood above the over 200 nominations that were judged by an eminent international jury with a collective experience of over 100 years. The advisory board and jury were international in mix – from Singapore and India, as well as other countries.

 The award ceremony took place at the Grand Copthrone Waterfront, Singapore and saw in attendance the who’s who of the Indian Real Estate and Building Materials industry.

 Speaking on winning these awards, C N Govindaraju, Managing Director Vaishnavi Group said, “Having been chosen from among 200 nominations and being recognized for our work ethos and standing in the industry is indeed an honour. We believe in “building from the heart’ and these awards are the perfect motivation for an already dedicated team to achieve larger goals”.

 Also speaking on winning these awards, Cyriac Joseph, Senior Vice President, Marketing, Vaishnavi Group says, “This was an impressive event and it gave me immense pleasure to represent the organization and receive this award on its behalf. Being recognized on such a platform is a reiteration of the responsibility we have as leaders in the real estate field. Winning these awards is a great brand story for us. Ratification from an external agency for the quality work done is always a good thing, especially when you are in a business that faces a volatile market”.

 Vishwasjeet Singh, Editor-in-Chief, Estrade.in said, “Real Estate sector alone contributes more than US$ 100 billion to India’s economy, accounting for roughly 5% of the GDP. With the Government’s push for better infrastructure, the potential for growth and opportunities is endless for all players.” He further added, “When you see that Real Estate and Building Utilities players complement each other, a combined platform to bring them together is a major win for all.

                                                                                                                                        –LAHARI.K.B.

Brigade Enterprises Limited (BRIGADE) Q2 and H1, FY17 financial results

Brigade Group announces Q2 FY 17 Financial Results

Bangalore, November 14, 2016:  Brigade Enterprises Limited’s Consolidated Revenues for 6 Months ended 30th September, 2016 was Rs. 925.5 crores, up from Rs. 914.6 crores recorded during corresponding Six Months in the previous year.  The Consolidated Net Profits stood at Rs. 52.3 crores as against Rs. 65.4 crores. 

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Commenting on the company’s performance, Mr. M.R. Jaishankar, CMD said:

 “The second quarter has been encouraging with better sales volumes and a higher price realization in spite of tough market conditions.  Brigade Group welcomes the Central Government’s landmark initiatives- GST, RERA & the path breaking ‘Demonetisation’ of Rs.500 & Rs.1000 currencies. All this should help in improving the transparency levels in the business sectors in general & real estate in particular. The initiatives should help established Developers like Brigade with high corporate governance, apart from enhancing the credibility of the country amongst international investors.”

Brigade as a Group has completed 3 successful decades of ‘Building Positive Experiences’ for our customers and we will strive to constantly innovate our products and services.”

FINANCIAL HIGHLIGHTS

Consolidated H1 Performance (H1 FY 2016-17 Vs H1 FY 2015-16): 

  • Total Revenues stood at Rs. 925.5 crores vis-a-vis Rs. 914.6 crores, an increase of 1%
  • EBITDA stood at Rs. 262.1 crores vis-a-vis Rs. 249.1 crores, an increase of 5%.
  • EBITDA margin stood at 28.3% vis-à-vis 27.2%.
  • PBT stood at Rs. 80.2 crores vis-a-vis Rs. 104.4 crores, a decrease by 23%.
  • PAT stood at Rs. 52.3 crores vis-a-vis Rs. 65.4 crores, a decrease by 20%.

Consolidated Q2FY 2016-17 Vs Q1FY 2016-17 Performance

  • Total Revenues stood at Rs 459.2 crores vis-a-vis Rs 466.4 crores, a decrease of 2%
  • EBITDA stood at Rs 137.6 crores vis-a-vis Rs 124.7 crores, an increase of 10%.
  • EBITDA margin stood at 30.0% vis-à-vis 26.7%.
  • PBT stood at Rs. 46.2 crores vis-a-vis Rs. 34.1 crores, an increase of 36%.
  • PAT stood at Rs. 30.1 crores vis-a-vis Rs. 22.2 crores, an increase of 36%.

Consolidated Operational Performance

  • Real Estate space aggregating to 0.58 million sq. ft. with a total value of338 crores was sold during the second quarter ending 30th September, 2016.  The average price realisation was Rs. 5,806 per sq. ft.
  • Leasing and Hospitality segments contributed Rs. 67.3 crores and Rs. 44.3 crores respectively to the consolidated revenues for the Second quarter ended 30thSeptember, 2016.
  • The Debt Equity ratio of the Company as on 30thSeptember, 2016 is 0.92:1. Credit rating of “A” has been assigned by both CRISIL and ICRA.

AWARDS & RECOGNITION

  • Brigade Groupreceived India’s Top Builders 2016’ Award at the Construction World Architects & Builders Awards.
  • Brigade Groupwon the 1st Runner Up for the South Region in the CII- National Excellence Practice Competition 2016.
  • Orion Mallswon 3 awards at the Times Retail Icon Awards – Bangalore 2016 – Emerging Mall – Orion East, Best Marketing & Promotion – Orion Mall @ Brigade Gateway and                   Best CSR Activities – Orion Mall @ Brigade Gateway
  • Aspen@ Brigade Orchards, won the ‘ICI (BC) – Birla Super Jury Appreciation’Award for Outstanding Concrete Structure of Karnataka 2016 in the Building Category.
  • Jaishankar won the ‘Real Estate Person of the Year Award’ at the 6th Annual Construction Week India Awards 2016 and was also recognised as a ‘Professional Developer Par Excellence’ by Association of Consulting Civil Engineers(India), Bangalore Centre for his contributions to the Society at REDECON 2016
  • Nirupa Shankar won the –‘Young Entrepreneur of the Year’ Award at the 6th Annual Construction Week India Awards 2016.
  • Suresh Kris was awarded the ‘CFO of the Year in Construction & Real Estate Sector’ at the Asia CFO Excellence Awards 2016.

 

LAHARI.K.B.

Institute of Indian Interior Designers inaugurates 15-Day Design Yatra

IIID-BRC Plans 15-Day Social and Design Extravaganza as
Karnataka Hosts for the Design Yatra 2016

 Bangalore, November 12, 2016: Institute of Indian Interior Designers – Bengaluru Regional Chapter (IIID-BRC) flagged off four mascot Nano cars of Design Yatra from UB City with complete pomp and fanfare on Saturday, Nov 12, 2016. The cars will begin their Karnataka leg of Design Yatra 2016 which began in February 2016 and have moved from one city to another since then. This 15-day social and design extravaganza hosted by IIID-BRC will see a number of events taking place across the city and state.

From panel discussions with eminent architects and citizens in the pristine environs of the Rangoli Centre on the Boulevard at MG Road to Heritage walks across the city, to a series of student competitions for various social initiatives, the IIID-BRC’s Design Yatra has a lot planned.

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Central to this leg of the Yatra is the attention to three design based social interventions that will be flagged off as part of the initiative as well.

Speaking on the 15-day event, Shyamala Prabhu, Convener of Design Yatra 2016 and Chairperson Elect IIID-BRC says, “This is an event where we seek to ignite the minds of masses to think in terms of design, function and aesthetic. Our focus is also on social intervention through design and this you will see through the three projects we have undertaken. For the students of design, we believe that such an event and the result exposure will help them start young in their careers and give them a head start”.

The three social initiatives of the IIID-BRC for Design Yatra are:

  • Gathering of funds for the refurbishment of a government school / shelter for boys at Siddapura and making its living conditions much more hospitable for its young students. The application of thoughtful design to this project will encourage more students to stay in school.
  • The second project is to create a community center at a slum that has already been benefitted from the care of an NGO. The idea is to take things further and give the people an aesthetic space to socialize in.
  • The encouragement and smart development of a slum, the third project will undertake the task to improve on the quality of construction and enable vertical growth.

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Besides these initiatives, the Karnataka leg of the Yatra will also see panel discussions with top notch architects and celebrities covering a range of subjects and debatable topics in the spheres of design, architecture, aesthetics and urban landscaping.

Design competitions for students to bring in smart design options for the various social initiatives taken up will also be a part of the events taking place. Themes for these competitions will range from aesthetic interiors to smart architectural solutions to promote stronger structures and make them flexible enough for further expansion.

Heritage walks will cover predominant places such as MG Road and Cubbon Park, Bhoganandeeshwara Temple (Nandi Hills) and Heritage Village (Manipal).

Design College visits to facilitate interactions between students and eminent architects for an exchange of ideas will also take place.

The Yatra will move on to Mangalore and Manipal as well, before being handed over to the team at Goa.

                                                                                                                                        –LAHARI.K.B.

IIID-BRC Plans 15-Day Social and Design Extravaganza as Karnataka Hosts for the Design Yatra 2016

Bangalore, November 11, 2016: Institute of Indian Interior Designers – Bengaluru Regional Chapter (IIID-BRC) will flag offfour mascot Nano cars of Design Yatra from UB City with complete pomp and fanfare on Nov 12, 2016.The cars will begin their Karnataka leg of Design Yatra 2016 which began in February 2016 and has moved from one city to another since then. This 15-day social and design extravaganza hosted by IIID-BRC will see a number of events taking place across the city and state.

From panel discussions with eminent architects and citizens in the pristine environs of the Rangoli Centre on the Boulevard at MG Road to Heritage walks across the city, to a series of student competitions for various social initiatives, the IIID-BRC’s Design Yatra has a lot planned.

Central to this leg of the Yatra is the attention to three design based social interventions that will be flagged off as part of the initiative as well.

Speaking on the 15-day event, ShyamalaPrabhu, Convener of Design Yatra 2016 and Chairperson Elect IIID-BRC says, “This is an event where we seek to ignite the minds of masses to think in terms of design, function and aesthetic. Our focus is also on social intervention through design and this you will see through the three projects we have undertaken. For the students of design, we believe that such an event and the result exposure will help them start young in their careers and give them a head start”.

The three social initiatives of the IIID-BRC for Design Yatra are:

  • Gathering of funds for the refurbishment of a government school / shelter for boys at Siddapura and making its living conditions much more hospitable for its young students. The application of thoughtful design to this project will encourage more students to stay in school.
  • The second project is to create a community center at a slum that has already been benefitted from the care of an NGO. The idea is to take things further and give the people an aesthetic space to socialize in.
  • The encouragement and smart development of a slum, the third project will undertake the task to improve on the quality of construction and enable vertical growth.

Besides these initiatives, the Karnataka leg of the Yatra will also see panel discussions with top notch architects and celebrities covering a range of subjects and debatable topics in the spheres of design, architecture, aesthetics and urban landscaping.

Design competitions for students to bring in smart design options for the various social initiatives taken up will also be a part of the events taking place. Themes for these competitions will range from aesthetic interiors to smart architectural solutions to promote stronger structures and make them flexible enough for further expansion.

Heritage walks will cover predominant places such as MG Road and Cubbon Park, Bhoganandeeshwara Temple (Nandi Hills) and Heritage Village (Manipal).

Design College visits to facilitate interactions between students and eminent architects for an exchange of ideas will also take place.

The Yatra will move on to Mangalore and Manipal as well, before being handed over to the team at Goa.

                                                                                                                                               –LAHARI.K.B.

LeEco chairman YT Jia believes India’s user value will surpass China

 New Delhi / Bangalore, November 10, 2016: Leading global internet conglomerate LeEco reaffirmed the importance the Indian market has to the company amid its recent strategic realignments.“India represents the future and its user value may surpass China in a few years,” said YT Jia, co-founder and chairman of LeEco at the company’s investor meeting in Beijing on November 10.

 “No matter how hard it is to crack the India market, we will try our best to grasp the opportunity there,” Jia said.LeEco pioneers in the industry with its unique ecosystem business model that connects products and services including video streaming, TV, smartphone, content production and electric vehicles. It is also keen to expand its ecosystems around the world with presence in Hong Kong, India, Russia and the US, where India is on the priority list of LeEco.

Now LeEco embarks on a new phase of its development, from capital-fuelled expansion to building a stronger hold of existing markets and achieving higher profit, according to a previous letter Jia sent to LeEco employees.

 “We will focus on China, American and India and achieve breakthroughs in these three valuable regional markets,” Jia wrote in the letter. Since its entrance into India in January this year, LeEco has introduced two generations of its Superphone, one generation of SuperTV and entertainment membership services. It has built offices and recruited hundreds of talents in three major cities in India as well as retail networks and a local research centre.

 LeEco is committed to the Indian markets and there will be new launches of LeEco products in India in the recent weeks.

                                                                                                                                           –LAHARI.K.B.