Archive: January 31, 2025

Carlton Commends Brand Evolution with the Unveiling of Exclusive Store in Mumbai’s Colaba

Mumbai, 31 January 2025: VIP Industries, Asia’s largest and the world’s second-largest luggage maker, has unveiled Carlton’s new retail identity with the launch of an exclusive 872 sq. ft. store in Colaba, Mumbai. Carlton aspires to be the preferred luggage choice for discerning travelers by offering thoughtfully designed, sophisticated travel solutions that go beyond mere badge value. With a focus on craftsmanship, discernment, and intelligent design, our products reflect the spirit of modern travelers. Aligned with this philosophy, Carlton’s new retail identity marks a significant step in strengthening its premium positioning.

The new Carlton store in Colaba sets the foundation for its future retail journey, offering a refined, immersive space that reflects its evolving premium identity. Thoughtfully designed to enhance engagement, it blends sophisticated aesthetics with seamless product discovery for a truly elevated shopping experience.

As part of its aggressive expansion strategy, VIP Industries is investing massively to strengthen Carlton’s presence in key markets across India. The company plans to open 25 exclusive Carlton stores over the next six months, further solidifying the brand’s position in the premium luggage segment.

Speaking on the occasion, Ms. Neetu Kashiramka, Managing Director of VIP Industries, said, “The launch of Carlton’s exclusive store in Colaba marks a pivotal step in strengthening our brand’s premium presence. This store embodies the new retail identity we envision for Carlton, offering a seamless blend of innovation, luxury, and customer-centricity. More than just a retail space, it is a gateway to a rich and immersive shopping experience. With this expansion, we aim to establish Carlton as the preferred choice for discerning travelers, offering a refined retail experience that blends sophistication with functionality in the premium luggage space.”

Carlton has been witnessing a strong growth momentum, with 11.4% growth in Q3FY25 over Q3FY24, reaffirming its market performance. The launch of this flagship store is a testament to VIP Industries’ commitment to enhancing the retail experience and catering to the evolving needs of premium consumers.

HCLTech and Microsoft Commend Innovation as They Join Forces with Cricket Australia to Transform Fan Engagement with GenAI

SYDNEY and NOIDA, India, January  31, 2025:  Leading global technology companies, HCLTech and Microsoft, have partnered with Cricket Australia (CA) to leverage generative AI (GenAI) to enhance the way fans experience live matches via the Cricket Australia Live app.

The app’s new AI Insights matchday companion feature provides fans with a regular feed of text-based updates as matches progress. The feature uses AI rooted in a deep understanding of cricket to identify key narratives, player performances, and notable milestones that go beyond the live scores and commentary, giving new context and insight to what is happening on the field.

The AI Insights matchday companion launches today at the Day-Night Test at the Melbourne Cricket Ground (MCG) during the CommBank Women’s Ashes series between Australia and England. This innovative feature is now accessible to all users of the Cricket Australia Live App worldwide.

“By harnessing the power of GenAI, we have the ability to reimagine the way fans engage with sport,” said Sonia Eland, Executive Vice President and Country Manager, Australia and New Zealand, HCLTech. “HCLTech has partnered with Cricket Australia for several years through our long-term role as the sport’s Official Digital Technology Partner, but our collaboration with Microsoft will further enhance the digital experience. Ultimately, our goal is to bring cricket fans even closer to the action.”

Cricket Australia has leveraged Microsoft’s Azure Open AI Service as well as HCLTech’s front-end and API development support to create a more accessible match day AI companion for cricket fans.

“We’re excited to bring cutting-edge AI technology to cricket fans through our partnership with Cricket Australia and HCLTech,” said Sarah Carney, Chief Technology Officer at Microsoft Australia and New Zealand. “This innovation demonstrates how generative AI is transforming the way we interact with the world around us, bringing insight, meaning and personalisation to audiences old and new.”

HCLTech and Cricket Australia began working together in 2019 to transform the organization’s core API platforms. In 2023, they extended the partnership for another five years, with HCLTech continuing its role as the CA’s Official Digital Technology Partner. The multi-year partnership has included initiatives like TechJam, a crowdsourcing effort to develop innovative tech solutions for the sport, as well as HCLTech’s role in making Cricket Australia Live the number one sporting app in Australia.

“We are very excited to partner with both HCLTech and Microsoft to create brilliant experiences for our fans by enhancing the CA Live app,” said Nick Hockley, CEO, Cricket Australia. “Our aspiration is to be a world leader in the way sporting codes bring fans closer to the game through digital technologies and we’re thrilled to launch this latest innovation at the CommBank Women’s Ashes Day-Night Test.”

Appy Pie Commends Technological Advancement as It Launches Snappy 3.0 App Builder

New Delhi, 31 January 2025: Appy Pie, a leader in no-code app development, announces the launch of Snappy 3.0. With this launch, Appy Pie becomes the best app builder, delivering a more efficient, feature-rich, and user-friendly platform for creating apps without any coding expertise. Below is a closer look at the new capabilities in Snappy 3.0:

Snappy 3.0 expands its design capabilities with an updated toolkit and a broader selection of templates. Users can apply custom color schemes, layouts, and branding elements to give each app a polished, personalized look. The interface remains intuitive, ensuring both first-time and experienced users can make design changes with ease.

Thanks to major infrastructure upgrades, Snappy 3.0 delivers faster load times and smoother navigation within the app builder. Whether you’re assembling complex features or fine-tuning your interface, users can expect minimal delays and consistent reliability. This performance boost helps speed up development cycles and enhances the end-user experience.

In response to user feedback, Appy Pie has revised its pricing to remain straightforward and accessible. Each tier now includes a balanced set of core features, allowing small businesses, nonprofits, and larger enterprises to select a plan that fits their goals without compromising on essential tools.

Snappy 3.0 brings new features that cater to various industries and use cases, including:

● IoT Integration: Connect with smart devices to gather data or automate processes.

● Backend Support: Use built-in services for database management and server-side logic.

● Workflow Automation: Automate routine tasks to streamline operations, reducing manual work and errors.

These additions allow businesses to build apps that handle everything from basic scheduling tasks to sophisticated data operations.

Beyond standard templates, Snappy 3.0 gives users the flexibility to tailor apps to unique needs. Adjustable design components, plugin-ready sections, and customizable flows let businesses create solutions that closely reflect their specific processes and branding.

By refining existing features and incorporating user feedback, Appy Pie positions Snappy 3.0 as a key player in the no-code movement. The platform aims to help organizations of all sizes reduce development hurdles, shorten project timelines, and bring their app ideas to life more efficiently.

“Snappy 3.0 focuses on delivering practical tools that help our users innovate and stand out,” said Abhinav Girdhar, CEO of Appy Pie. “We believe in making app development faster and more accessible to everyone, from solo entrepreneurs to larger enterprises.”

Fine Acers Commends Expansion into Rajasthan with the Launch of a Luxury Resort in Jawai

New Delhi / Rajasthan, January 31, 2025: Fine Acers, a pioneer in branded resorts, is thrilled to announce the development of its new branded resort property in Jawai, Rajasthan. The property will be launched under the brand name Kamah Luxury, Lifestyle & Wellness in partnership with the global hospitality leader Wyndham Hotels & Resorts. Spread across 15 bighas in the heart of Jawai, renowned for its thriving leopard population and appeal to wildlife enthusiasts, this destination is poised to become a premier attraction for tourists visiting Rajasthan.

Kamah Hotels & Resorts is offering a total of 94 units to investors, with options spanning five distinct categories: Deluxe Suites, Luxury Villas, Swiss Chalet Jacuzzi Villas, and Presidential Pool Villas. The minimum investment starts at INR 55.51 lakhs, making this an attractive proposition for discerning investors.

Strategically located in Jawai, Kamah Hotels & Resorts will provide a harmonious blend of sophistication, modern amenities, and immersive experiences. By seamlessly integrating opulence, wellness, and sustainability, Kamah delivers not just a luxurious lifestyle but also an unmatched opportunity for financial growth and legacy building. This luxury retreat is set to meet the increasing demand for high-end tourism in Rajasthan, appealing to families, couples, and event organizers alike.

Commenting on the announcement, Dinesh Yadav, Founder and Managing Director of Fine Acers, stated, “Investors today are seeking opportunities that combine capital growth with an enhanced lifestyle. Our properties present the perfect investment for individuals who believe they have arrived in life. We offer a minimum assured return of 7%, along with additional benefits such as complimentary stays and destination weddings. Our unique sales leaseback model has resonated strongly with investors, leading to a 150% increase in inquiries over the past six months.”

“The response to our Jawai property in Rajasthan has been equally encouraging, as it exemplifies excellence in hospitality and sets a new standard in premium resort living,” he added.

As part of Wyndham’s flagship Trademark Collection, Kamah Hotels & Resorts embodies superior operational standards and loyalty. This collaboration ensures unparalleled service quality, global recognition, and positions Kamah as a top choice for discerning travelers.

In addition to delivering an exceptional guest experience, Kamah Hotels & Resorts presents a compelling investment opportunity. Jawai’s booming tourism industry, fueled by a steady influx of domestic and international visitors, promises strong potential for high occupancy rates and sustainable financial returns.

SME Sector Seeks GST Relief in Upcoming Budget, Says R.P. Gupta

SME sector need GST Relief in Forthcoming Budget Says Mr. R. P. Gupta, Industrialist and Author of Book: Turn Around India

As per national sample-survey in 2015-16, total MSME were 6.33 Crores, mostly Small and Micro units. Among MSME, the share of Manufacturing, Trade and other Service was about 31%, 36% & 33%. After introducing GST in 2017, the growth of MSME has been sluggish rather negligible. In developing phase of any Nation, the role of MSME is crucial for generating jobs. However, their production cost is higher and they face problems in marketing due to poor brand image. Hence, they need policy and fiscal support for healthy growth.

Credit-guarantee scheme (CGS) by center is excellent support for availing liberal bank-credit. But, due to tax-hazards, majority of SME-units are not registered and could not avail bank-credit. Hence, both Central and State governments must extend GST exemption somewhat similar to Excise exemption to SME units prior to GST regime and also simplify GST compliances.

Since 2003, manufacturing SME-units (excluding medium scale) were availing Excise exemption on the initial turnover of Rs.1.5 Crores. That amounts to Rs.22.5 lakhs per annum considering average excise-rate as 15%. By this, SME units were able to compete with large-units and survive.

Considering inflation in last two decades, such benefit should be increased to Rs.45-50 lakhs per annum by reimbursing net CGST payable after availing input-tax credit. For non-manufacturing SME units the benefits may be limited to Rs.8-10 lakhs/annum. Existing scheme of GST- exemption on the sale of Rs.40 lakhs may continue for micro-units with an option to switch over to new scheme. States may also be pursued similar scheme for SGST, may be with reduced limit depending upon their fiscal affordability.

However, for fiscal prudence, its net impact on the budget may be estimated and some tweaking of scheme may be done. For example, instead reimbursing 100% net GST payable, it may be reduced to 75% without changing overall limit as suggested.

Currently, about 85-90% SME-units are not within the tax-net by not registering. By simplification of GST-laws and with aforesaid benefits, SME-units will gradually come under tax-net and pay some tax after crossing exemption limits. Many of them might graduate to medium-scale and contribute to GDP and tax revenue besides providing more jobs.

I firmly believe, this will be right antidote to many problems to which our Nation is facing now. More so, gradually, participation in economic activities shall increase and universal cash subsidy shall reduce. Developing self-dependency is obviously better option by generating job- opportunities.

Amagi Commends Strategic Evolution as Content Providers Embrace Unified Distribution Models

Bengaluru, January 31, 2025:  Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced the release of its 14th Amagi Global FAST Report, which highlights content providers’ shift toward unified, platform-agnostic distribution to amplify both reach and monetization. The traditional boundaries between video services are blurring, with pay TV services now offering FAST (Free Ad-supported Streaming TV) channels, SVOD (Subscription Video on Demand) platforms introducing ad-supported tiers, and FAST services seamlessly blending linear channels with AVOD (Advertising-Based Video on Demand) content. To be more agile, efficient, and profitable in addressing evolving consumer preferences, content providers are embracing unified distribution strategies that enable them to reduce costs instead of creating separate teams and infrastructure.

“The media landscape is rapidly evolving, and the old ways of distributing content in silos just won’t cut it anymore,” said Srinivasan KA, Co-founder and Chief Revenue Officer of Amagi. “Our latest report shows a significant trend: Viewers are flocking to free streaming services, but they’re getting frustrated with the fragmented experience of jumping between multiple platforms. This presents a clear opportunity in the market, as video services that can offer a seamless, integrated experience combining free, paid, and ad-supported models will stay on top. Content providers need to take a hard look at their distribution strategies, break down their silos, and unify operations. While unifying steaming operations will deliver efficiency, it’s ultimately about meeting the changing demands of today’s viewers.”

The 14th Amagi Global FAST Report offers data and insights derived from 3,300+ FAST channels that use Amagi THUNDERSTORM, the company’s innovative server-side ad insertion (SSAI) platform.

Key takeaways from the 14th Amagi Global FAST Report include:

• News remained the most popular genre in APAC with 40% HOV share, followed by Entertainment at a 23% share.
• Within the Entertainment genre, Comedy, Drama, Horror and Reality accounted for 30% of the HOV.
• Music is the best monetized genre in APAC. Monetization of Kids channels remains the lowest.
• Of the ~300 new channels launched in APAC, ~100 were Entertainment, ~70 were News and ~50 were Documentaries.

Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including Hearst Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.

The latest edition of the Amagi Global FAST Report is available here. More information about Amagi and its streaming TV solutions is available at www.amagi.com.

XTB Commends Market Confidence as Preliminary 2024 Results Show Exceptional Growth

In 2024, XTB consistently executed its growth strategy across all operating markets, capitalizing on the increasing interest in investing due to low interest rates and continuously elevated inflation. The company’s marketing and technological capabilities enabled it to promote financial literacy and offer users modern investment tools for easy portfolio management and real-time transaction execution. As a result, XTB achieved record levels of consolidated revenues (EUR 435.3 mm, +21.8% y-o-y), net profit (EUR 199.7 mm, +14.3% y-o-y) with increased marketing expenses and rising employment costs related to the development of proprietary technology.

In 2024, the revenue structure revealed that the largest share (48%) came from CFDs based on commodities. This was primarily driven by the high profitability of instruments related to gold, natural gas, and cocoa prices. The second most profitable asset class was index-based CFDs, which accounted for 33.3% of total revenue, down from 47.8% in 2023. Within this category, the most profitable instruments included CFDs based on the American US 100 and US 500 indices and the German DAX. Additionally, CFDs based on currencies contributed 14.6% to the revenue, with bitcoin and the USD/JPY currency pair being the most profitable. Although the number of transactions on CFD instruments decreased by 7.5% year-over-year, this was offset by increased profitability per lot, rising to PLN 299 compared to PLN 239 in 2023.

In 2024, XTB clients significantly increased their investments in shares and ETFs, with turnover rising 138% year-on-year to USD 3.1 billion. These instruments now make up 4.1% of XTB’s revenues, up from 2.2% in 2023. Nearly 80% of new client transactions in EU markets involve shares, ETFs, and ETF-based investment plans. Additionally, net deposits climbed to PLN 8.61 billion, a 127% increase from the previous year, as clients took advantage of interest on free funds.

2024 has been a landmark year for XTB. I’m particularly excited about the significant growth in new clients, especially active investors, who are vital for our future success. We’ve welcomed nearly half a million new investors, thanks to our diverse product offerings and effective marketing strategies. Remarkably, about 80% of these clients start investing in shares and ETFs, suggesting strong long-term loyalty – comments Omar Arnaout, CEO of XTB.
Record increase in the number of clients and their investment activity

In 2024, XTB added 498,400 new clients, representing a significant 59.8% year-over-year increase. This figure exceeds the quarterly target, which anticipated an increase of 65,000 to 90,000 clients. By the end of 2024, a total of 1.36 million investors were using the XTB investment platform and mobile app, up from 897,000 at the end of 2023. From January 1 to January 29, 2025, an additional 70,700 new investors joined the XTB client base.

The number of active clients also saw remarkable growth, reaching a record 658,500 by the end of 2024, compared to 408,500 at the same time the previous year.

In 2025, the Management Board’s goal is to obtain an average of 150,000 -210,000 new clients quarterly.

Product pipeline and further foreign expansion

In 2024, XTB introduced a record number of new products, enhancing both long-term investing and everyday financial management. Key additions included an auto-investing feature in Investment Plans, IKE accounts in Poland, ISA accounts in the UK, and an eWallet with a multi-currency card. Security saw significant improvements with the implementation of two-factor authentication (2FA), while a new portfolio view streamlined access to essential information about transactions and products.

In 2025, XTB plans to expand its offerings for investors seeking to put their money to work effectively. New products will be introduced, including the IKZE account in Poland and the PEA account in France. The eWallet service, which allows immediate access to funds, will also be enhanced. With the recent launch in Poland, it is now available to XTB clients across Europe.

In the segment of products for active investors, XTB plans to add options to the offer. Preliminary analyses and related preparatory work are already underway. Due to the potential associated with investing in cryptocurrencies, XTB also plans to add this instrument to its offer and is also conducting preparatory work in this regard. The company plans to add both of these products to its offer in 2025, but the implementation of the product plan depends on external factors, including cooperation with suppliers, obtaining the necessary regulatory approvals, and the adoption of the act on crypto-assets.

In 2025, XTB will continue its efforts to prepare for obtaining a license and starting operations in Brazil, with the expectation that the licensing process may be completed within the year. As previously announced, operations in Indonesia are scheduled to begin in the first half of 2025.

Our product plans respond to the dynamic changes in the world of finance and the needs of investors. We are continually developing the XTB application to provide users with a highly functional and comprehensive financial management platform. These new solutions bring us closer to becoming a European leader in the industry. Expanding our offerings and enhancing their competitiveness also pave the way for further growth in markets with significant business development potential, such as the Middle East, Latin America, and Indonesia, summarizes Omar Arnaout.

Detailed information summarizing the activities of the XTB Group in 2024 and preliminary financial and operational results are presented in the Current Report available.

Airtel Africa Commends Strategic Growth as It Announces Nine-Month Financial Results

Results for nine-month period ended 31 December 2024

Focussed execution drives strong operating and financial momentum. Second share buyback programme launched

Operating highlights

• The total customer base grew by 7.9% to 163.1 million. Data customer penetration continues to rise, with a 13.8% increase in data customers to 71.4 million. Data usage per customer increased by 32.3% to 6.9 GBs, with smartphone penetration increasing by 5.2% to reach 44.2%.

• The continued investment to increase financial inclusion across our markets contributed to an 18.3% increase in mobile money subscribers to 44.3 million. Transaction value in Q3’25 increased by 33.3% in constant currency1

• Data ARPU growth of 15.0% and mobile money ARPU growth of 11.8% in constant currency continued to support overall ARPUs which rose 12.0% YoY in constant currency.

• Customer experience remains core to our strategy with sustained network investment during the period. In line with our strategic priorities, data capacity across our network has increased by 20.8% with the rollout of 2,850 sites and approximately 2,600 kms of fibre.

Financial performance

• Revenues of $3,638m grew by 20.4% in constant currency but declined by 5.8% in reported currency as currency devaluation continued to impact reported revenue trends. Strong execution supported a further quarter of accelerating growth with Q3’25 revenue growth of 21.3% in constant currency and reported currency revenue growth of 2.5%.

• Across the Group, mobile services revenue grew by 18.8% in constant currency, driven by voice revenue growth of 9.8% and data revenue growth of 29.5%. Mobile money revenue grew by 29.6% in constant currency.

• EBITDA for the nine-month period declined by 11.9% in reported currency to $1,681m with EBITDA margins of 46.2% impacted by increased fuel prices and the lower contribution of Nigeria to the Group. However, following initial successes of our cost efficiency programme, EBITDA margins have expanded from 45.3% in Q1’25 to 46.9% in Q3’25.

• In Q3’25, profit after tax benefitted from an exceptional gain of $94m (net of tax) following the naira and Tanzanian shilling appreciation. However, over the nine-month period ending 31 December 2024, profit after tax of $248m was impacted by $57m of exceptional derivative and foreign exchange losses (net of tax).

• EPS before exceptional items declined from 7.1 cents in the prior period to 6.2 cents, primarily impacted by increased costs associated with the ATC contract renewal, which had no impact on cashflows. Basic EPS of 4.4 cents compares to negative (1.6 cents) in the prior period, predominantly reflecting lower derivative and foreign exchange losses in the current period.

Capital allocation

• Capex of $456m was 7.8% lower compared to prior period. Capex guidance for the full year remains between $725m and $750m as we continue to invest for future growth.

• We have been consistently reducing our foreign currency debt exposure, having paid down $739m of foreign currency debt over the last year. Furthermore, 92% of our OpCo debt (excl. lease liabilities) is now in local currency, up from 79% a year ago.

• Leverage has increased from 1.3x to 2.4x primarily reflecting the $1.2bn increase in lease liabilities arising from the extension of our tower lease agreements with ATC as previously announced. To reflect the Group’s financial market debt position and reduce volatility associated with lease accounting under IFRS16, the Group has introduced ‘Lease-adjusted leverage’ as an additional APM in the current period. Lease-adjusted leverage increased from 0.7x in the prior period to 1.1x as of 31 December 2024 reflecting the impact of higher debt and lower lease-adjusted EBITDA given the translation impact arising from currency devaluation (see page 6).

• Following the completion of the first $100m buyback, in December 2024 we announced the commencement of a second share buyback programme that will return up to $100m to shareholders. This reflects the Board’s confidence in the continued growth potential, the strength of the balance sheet and consistent cash accretion at the holding company level.

Sunil Taldar, chief executive officer, on the trading update:

“We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy which is focussed on delivering great customer experience across all touch points. An increasingly important component of this is to provide a best-in-class network, digitise and simplify the customer journey. Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant, resulting in a further acceleration of constant currency revenue growth to 21.3% in the most recent quarter.

We remain committed to investing for the future by expanding our distribution and network to ensure that we capture this significant growth opportunity on offer. Despite the challenging environment for many of our customers, we continue to see strong demand for our services as we enable connectivity and facilitate access to the digital economy. The scale of data traffic growth across our markets – an increase of 49% over the last year – is testament to the investments we have made and the relentless focus on our strategy to create value for all our stakeholders.

As we have communicated previously, our cost efficiency programme continues to deliver EBITDA margin improvements, with a further expansion of margins in Q3’25. We continue to focus on further margin improvement. Furthermore, our capital structure remains robust with just 8% of OpCo debt in foreign currency – a substantial improvement over the last year. This, together with continued confidence in the outlook for the business, has enabled the Board to announce a second share buyback programme, which will return up to $100m to shareholders.

The recent signs of currency stabilisation in some markets and the recent decision from the Nigerian Communications Commission (NCC) regarding tariff adjustments in Nigeria are encouraging and signal a more stable and supportive operating environment. While challenges remain, these developments provide a firm foundation for growth and improved market conditions.”

CHHAAD Commends Art and Freedom in a Grand Unveiling at Kolkata’s Prestigious Book Fair

Kolkata, January 31, 2025: The much-anticipated trailer launch of the movie Chhaad, directed by Indrani Chakrabarti and starring renowned actor Paoli Dam, was unveiled amidst great fanfare at the SBI Auditorium during the 48th International Kolkata Book Fair. The event also featured the unveiling of the film’s official poster, setting the stage for its upcoming theatrical release on March 8, 2025, a date chosen to coincide with International Women’s Day, celebrating empowerment and freedom.

The event was graced by an illustrious cast, including Paoli Dam, veteran actor Anuradha Roy, celebrated actor Arindam Ganguly, renowned actor Ranajoy Bishnu, and the talented Rajnandini Paul, among others. Talented actor Rahul Banerjee also holds an integral part in the movie.

Produced by the National Film Development Corporation of India (NFDC), Chhaad has already garnered acclaim on international platforms, including Cannes, IFFI, and KIFF. Set against the symbolic and literary backdrop of the International Kolkata Book Fair, the film’s themes of freedom, individuality, and empowerment resonated deeply with the audience.

The movie explores the journey of its protagonist, Mitra, played by the talented Paoli Dam, where she finds solace, strength, and self-expression through her relationship with a terrace—a physical space that transcends into an emotional and spiritual realm. Through Chhaad, the narrative delves into Mitra’s silent rebellion against societal norms and her quest for liberation from the constraints of patriarchy.

The release date of Chhaad was also announced to be March 8, 2025, aligned with the celebration of Women’s Day, further heightening the anticipation for the film’s journey to the big screen.

Speaking on the occasion, actor Paoli Dam, who plays the lead role, shared, “Chhaad is not just a film—it’s a reflection of emotions that we all experience but rarely articulate. Mitra’s journey resonated with me on a very personal level, and I believe audiences will find a part of themselves in her story. The terrace, in this movie, is more than a space—it’s a metaphor for the freedom we all seek in our lives. I am certain this poignant cinematic experience will eagerly await audiences, promising a story that will linger in their hearts long after the final credits roll.”

On this occasion, National Award-Winning Director, Indrani Chakrabarti, the story writer, screenplay writer, and director of the film, said, “Chhaad is a tribute to the unsung moments of liberation that every individual craves. The terrace is a quiet witness to Mitra’s inner struggles and triumphs, and I hope this film inspires viewers to embrace their inner voice and seek their unique paths to freedom.”

Industry Leaders Commend Growth-Oriented Reforms in Pre-Budget Expectations for Real Estate

By Mr. Prashant Sharma, President, NAREDCO Maharashtra

As we approach the Union Budget 2025-26, the real estate sector looks forward to policy initiatives and reforms that can drive growth, enhance affordability, and address long-standing industry challenges. The sector, a critical contributor to the nation’s GDP and a significant employment generator, requires sustained focus and support to maintain its upward trajectory.

1) Boosting Housing Affordability:

To ensure the success of initiatives like PMAY-U, it is imperative to increase budgetary allocations for affordable housing and expand credit-linked subsidies. Additionally, revising income tax deduction limits under Section 24(b) for home loan interest from ₹2 lakh to ₹5 lakh can further enhance housing affordability, encourage homeownership, and boost the flow of funds into the affordable housing sector, which has seen a slowdown in recent months.

2) Industry Status for Real Estate:

Granting industry status to the real estate sector remains a key demand. This will enable easier access to institutional funding at lower interest rates, particularly for mid-segment and affordable housing projects.

3) Rationalization of GST:

A uniform GST rate with input tax credit for residential and commercial projects can significantly reduce costs and streamline taxation. Additionally, reducing GST rates for under-construction properties can encourage buyers and increase project sales.

4) Incentivizing Sustainable Development:

The government should promote green and sustainable real estate practices through tax rebates and incentives for developers adopting eco-friendly building technologies and materials. This aligns with India’s commitment to achieving carbon neutrality.

5) Focus on Infrastructure Development:

Continued investments in urban infrastructure, including metro rail, highways, and smart cities, will boost real estate development in peripheral areas and unlock new growth corridors.

6) Ease of Doing Business:

A single-window clearance mechanism for approvals, reduced compliance burdens, and clear land title policies will streamline project execution and attract domestic and foreign investments.

7) Support for REITs and Focus on Rental Housing:

Encouraging investments in Real Estate Investment Trusts (REITs) through tax benefits and regulatory support can provide liquidity to the sector. Similarly, Rental housing can play a pivotal role in addressing urban housing shortages and supporting the mobility of the workforce. The government should introduce incentives and policy support for developing affordable rental housing complexes, ensuring access to quality housing for tenants.

We are hopeful that the Union Budget 2025-26 will introduce measures that empower the real estate sector to thrive, creating opportunities for developers, homebuyers, and allied industries. By addressing these critical areas, the government can unlock the true potential of India’s real estate sector as a pillar of economic growth and development.

By Mr. Lachman Ludhani – Chairman and Managing Director – Evershine Group

The real estate sector has always thrived by turning challenges into opportunities, meeting the aspirations of homebuyers year after year. As we gear up for the Union Budget 2025, I see a landscape filled with promise, if we make a few strategic shifts. Affordable housing continues to gain momentum, reflecting the evolving needs of our nation. While 2024 presented its challenges, I believe the upcoming budget can reignite home-buying interest by introducing crucial reforms in tax policies and enhancing subsidies for affordable housing. These steps will not only ease financial burdens but also open doors to growth and innovation. With a clear focus and collective effort, I am confident that we can propel the industry forward, paving the way to achieve the ambitious $1 trillion target by 2030 and fulfilling the housing dreams of millions of Indians.

By Mr. Kuldeep Jain, Founder & CEO, Build Capital

As the Union Budget 2025-26 approaches, the real estate and infrastructure sectors are hopeful for a budget that drives growth and addresses long-standing industry concerns. Here are critical expectations:

Tax Reforms: Increasing the tax deduction limit under Section 24(b) for home loan interest, currently capped at ₹2 lakh, would provide much-needed relief to homebuyers, especially in metro cities where property prices are high.

Affordable Housing Project: Extending the benefits of Section 80-IBA for affordable housing projects upto March 2029 would encourage more developers to venture into affordable real estate projects development and government mantra of Housing for all gets fulfilled.

GST Tax Rate reduction and Streamlining: The current GST regime remains ambiguous and poses a significant challenge for developers. Simplifying, streamlining and reducing GST Tax rates is imperative to reduce complexities and alleviate the financial burden on developers.

Demand for Industrial Status: The long-standing demand for granting industrial status to the real estate sector must be addressed. This will enable easier access to financing, reduce borrowing costs, and boost investor confidence.

Rationalization of Stamp Duty: Stamp duty rates in certain states, currently as high as 8-9%, are a major financial burden for homebuyers. Rationalizing these rates across states for homes upto Rs 1.50 crores is crucial to make property ownership more affordable and drive housing demand.

Single-Window Clearance: A streamlined project approval system particularly High rise and Environment clearance etc will reduce delays and enhance ease of doing business.

Sustainable Development Incentives: The government must prioritize green building initiatives and sustainable construction practices by offering tax benefits or subsidies to developers adopting eco-friendly technologies. This aligns with India’s commitment to its net-zero goals.

Global Investment Boost: Policies that attract Foreign Direct Investment (FDI) into real estate, especially in commercial and tech-driven investment segments, can further strengthen the sector. Simplifying regulatory frameworks and providing tax incentives for global investors will help position India as an attractive destination for international capital.

Real Estate Tech Adoption Fund: Offering incentives / allocating Funds for PropTech adoption and innovation will enable the sector to become more efficient and transparent.

Increased Allocation of funds for Infra Development: Increased budgetary allocation to infrastructure development, including metro networks and multimodal corridors, will catalyze the growth of commercial real estate in urban and peripheral areas.

Support for REITs, InvITs and Fractional Ownership platform: Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) have been instrumental in bringing transparency and liquidity into the sector. Reducing the dividend distribution tax and offering further incentives for retail investors can enhance their adoption.Moreover, fractional ownership platforms are democratizing access to high-value real estate assets, and the government should encourage their growth through comprehensive and supportive policies.

The Union Budget 2025-26 presents an opportunity to address these areas and propel the sector toward sustainable growth, benefiting developers, investors, and end-users alike.

By Mr. Rohan Khatau, Director, CCI Projects Private Limited

With the Union Budget 2025-26 around the corner, the real estate sector is keenly anticipating measures that will bolster growth and address critical challenges. Here are a few key expectations from the government to ensure sustainable progress and greater housing accessibility:

Enhanced Tax Benefits for Homebuyers

We urge the government to consider increasing the tax exemption limit on home loan interest under Section 24(b). Enhancing these benefits will significantly improve affordability for first-time homebuyers, especially in urban and semi-urban regions, where property prices remain high.

GST Rationalization

A unified and lower GST rate for under-construction properties will provide much-needed relief to homebuyers while encouraging demand in this segment. Currently, multiple tax layers create confusion and deter potential buyers.

Support for Affordable Housing

The extension and expansion of benefits under the Pradhan Mantri Awas Yojana (PMAY) will be crucial to bridging the housing gap. The introduction of new subsidies and incentives for developers focusing on affordable housing will accelerate the mission of ‘Housing for All.’

Focus on Rental Housing

With urbanization on the rise, promoting rental housing schemes will create a more structured rental market. This move will cater to a diverse population, including millennials and migrating professionals.

Single-Window Clearance Mechanism

Simplifying project approvals through a single-window clearance system will expedite project execution, reduce costs, and enhance investor confidence. It is a much-needed reform to drive efficiency across the sector.

Increased Budget Allocation for Infrastructure Development

Investment in infrastructure projects like metro connectivity, highways, and urban transport networks directly impacts real estate demand. Enhanced connectivity to peripheries will unlock their potential as emerging growth corridors.

Industry Status for the Real Estate Sector

Granting industry status to the real estate sector will open avenues for lower borrowing costs and improved access to institutional credit. This will strengthen developers’ ability to deliver quality projects on time.

The real estate sector plays a pivotal role in driving economic growth and creating employment. Progressive and pragmatic measures in this year’s budget can act as a catalyst, fostering confidence among stakeholders and contributing significantly to India’s vision of becoming a $5 trillion economy.

Real Estate Calls for Tailored Policies on Second Homes, Luxury Villas Ahead of Budget 2025

By Mr. Vikas Sutaria, Founder, Iraah Lifespaces

As we approach the Union Budget 2025-26, the real estate sector remains optimistic about receiving the much-needed impetus to drive growth, affordability, and sustainability. It deserves focused attention to address its long-standing challenges and unlock its full potential. Key Expectations include:

Incentivizing Homebuyers through Tax Reforms

We urge the government to revisit the tax deduction limits under Section 80C and 24(b) of the Income Tax Act. An upward revision of the deduction limit for home loan principal repayment and interest on housing loans will significantly improve housing affordability and encourage homeownership, particularly in Tier II and Tier III cities.

Infrastructure-Led Growth

Increased investments in infrastructure development, such as highways, metro networks, and urban connectivity projects, will complement the real estate sector by enhancing the livability of emerging growth corridors.

Special Focus on Second Homes and Luxury Housing

Locations like Alibaug and Lonavala are witnessing increased demand for second homes and luxury villas. Tailored policies to incentivize investments in these high-potential segments will support the rising aspirations of affluent buyers.

The Union Budget 2025-26 has the opportunity to lay a solid foundation for a balanced and inclusive real estate sector.

By Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers

The real estate sector looks forward to bold and progressive measures from the Union Budget 2025-26 to bolster its growth and contribute significantly to the nation’s economic progress.

Tax Incentives for Homebuyers and Investors:

Rationalization of GST rates on under-construction properties and a higher tax exemption limit for housing loans will incentivize homebuyers and ease their financial burden. Additionally, tax incentives for rental housing could attract institutional investments, benefiting urban renters.

Policy Push for Sustainable and Green Developments:

In line with the global focus on ESG (Environmental, Social, and Governance) criteria, the introduction of subsidies or incentives for green building certifications and renewable energy integration in residential and commercial projects would be a welcome move.

Single-Window Clearance Mechanism:

A simplified and time-bound clearance system will significantly enhance ease of doing business, enabling developers to complete projects on time and reduce costs.

Infrastructure-Led Development:

Budget allocations for mega infrastructure projects like new metro lines, highways, and urban transport systems will catalyze real estate demand in emerging growth corridors.

Boost for REITs and InvITs:

To deepen the investment market, reforms to make REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) more tax-efficient and accessible to retail investors would stimulate institutional and global interest in Indian real estate.

Focused Benefits for NRI Investors:

Considering the growing interest of NRIs in Indian real estate, specific measures such as streamlined repatriation processes, reduced tax burdens on property transactions, and enhanced ease of investing in residential and commercial properties could significantly boost NRI investments.

The real estate sector has always played a pivotal role in driving India’s GDP growth and generating employment. We are optimistic that the upcoming budget will address these expectations and create a conducive ecosystem for developers, homebuyers, and investors alike.

By Mr. Samyak Jain, Director, Siddha Group

After a year of remarkable performance, the industry needs additional support from the Union Budget 2025-26 to maintain this growth trajectory.

Reinstating the enhanced deduction for interest on home loans would boost housing demand, especially in affordable and mid-segment categories, and encourage greater market participation. Targeted benefits, such as reduced stamp duty or subsidies, can make homeownership accessible to millennials and first-time homebuyers, a vital demographic driving housing demand.

Enhanced tax holidays and higher allocations for PMAY-U scheme will further the ‘Housing for All’ vision, expediting urban housing development. Tax benefits or subsidies for eco-friendly construction technologies and materials would support sustainable urban development and align with India’s environmental goals. Lowering GST on under-construction properties and key materials like cement and steel would make housing more affordable and reduce construction costs.

A single-window clearance system would minimize project delays and reduce costs, enabling developers to deliver more efficiently.

These measures will provide the necessary impetus to the real estate sector, supporting its critical role in economic growth and nation-building.

By Mr. Govind Krishnan Muthukumar, Managing Director & Co-founder, Tridhaatu Realty

The real estate sector anticipates bold measures from the Union Budget to sustain its growth momentum while addressing challenges that impact both developers and homebuyers. The following key areas demand the government’s attention:

· Increasing the tax deduction limit for housing loan interest under Section 24(b) would provide significant relief to homebuyers and stimulate demand. This move is especially critical to support the mid-income and affordable housing segments, which form the backbone of the sector.

• Reinstating the tax holiday under Section 80-IBA for affordable housing projects and increasing the income ceiling for beneficiaries under PMAY-U would enhance housing accessibility for economically weaker sections and low-income groups.
• Introducing a single-window clearance system for project approvals can expedite timelines and reduce carrying costs for developers. This will lead to faster project deliveries, benefiting both developers and end-users.
• Allocating higher funds for urban infrastructure along with enhanced connectivity through metro rail and road networks will unlock the potential for both residential and commercial developments.

We urge the government to introduce progressive policies that not only boost housing demand but also create a sustainable and transparent ecosystem for all stakeholders in the real estate sector. These steps can transform India’s urban landscape while contributing significantly to the nation’s GDP.

Real Estate looks for enhanced impetus in Union Budget 2025-26

By Mr. Abhishek Jain, COO, Satellite Developers Private Limited (SDPL)

The Union Budget 2025-26 presents an excellent opportunity to catalyze growth in the real estate sector, which is a key contributor to India’s economic progress and employment generation. We have high expectations from this year’s budget, as the government continues to emphasize housing and infrastructure development.

Enhancing the tax deduction limit under Section 80C and Section 24(b) for home loan principal and interest repayment can significantly boost affordability and demand in the residential sector. This step is crucial to enable middle-class homebuyers to make their dream of owning a home a reality.

As urbanization accelerates, the need for affordable rental housing is more pronounced. The introduction of tax benefits for individuals and corporates investing in rental housing can support the government’s Rental Housing Scheme and promote organized housing options.

The announcement of funds for mega infrastructure projects such as metro expansions, high-speed rail corridors, and urban transport systems can enhance connectivity and unlock new real estate growth corridors. This will directly benefit peripheral and emerging micro-markets, attracting more investment.

To attract more institutional investments, we urge the government to introduce further tax benefits and incentives for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). This will provide a strong capital flow into commercial and infrastructure projects.

The real estate sector plays a pivotal role in achieving the vision of a $5 trillion economy, and we hope the Union Budget 2025-26 will reflect a balanced and forward-looking approach that addresses key challenges and accelerates sectoral growth.

By Mr. Navin Makhija – Managing Director, The Wadhwa Group

The real estate sector anticipates critical reforms from the Union Budget 2025-26 that can accelerate growth and further strengthen its contribution to India’s economic progress. The following measures would not only enhance affordability but also bring renewed momentum to the housing sector:

• To boost homeownership across income segments, we urge the government to allow interest payments on home loans to be set off against individual income tax liabilities. This move will significantly reduce the financial burden on homebuyers and serve as a strong incentive for prospective buyers, ultimately stimulating demand in the residential real estate market.
• Reviving the 80-IB tax benefit for developers undertaking affordable housing projects is crucial. This provision will incentivize developers to launch more affordable housing projects, aligning with the government’s vision of ‘Housing for All.’ The benefit will also ensure increased supply in this category, meeting the ever-growing demand for budget-friendly homes.
• To make housing truly affordable, an interest subsidy for developers of affordable housing projects would be a welcome step. This will enable developers to access funding at lower costs, reducing the overall cost of projects. Consequently, this benefit will be passed on to end-users, making homeownership more accessible to economically weaker sections and middle-income groups.

The real estate sector is a cornerstone of economic growth and employment generation. We hope the Union Budget 2025-26 addresses these expectations and introduces reforms that empower both homebuyers and developers while contributing to the overall growth of the economy.