Karle Infra Selects Yardi Voyager 7S for Commercial Property Management

Real estate developer Karle Infra will manage multiple office buildings in Bengaluru with Yardi Voyager 7S, a browser-agnostic, fully mobilised Software as a Service platform.

“We will initially use Voyager to manage a commercial complex which is located in the heart of Karle Town Centre,” comments Dhruva Karle, general manager, ERP, for Karle Infra Pvt. 

“Longer term, we may take on a much larger concentration of buildings. With that growth in mind, we were impressed by Voyager’s ease of scalability, which is important as our business expands,” he says.

Karle Infra will also adopt Yardi Fixed Assets to record and monitor fixed assets from purchase order issuance through purchase, use and final disposition. Additionally, Yardi Inventory Control will give the company total visibility into the acquisition, tracking, depreciation and disposition of inventory across multiple locations.

“Yardi welcomes Karle Infra as one of our new clients in India. We’re delighted that they will have the means to execute their business strategy quickly and efficiently. In addition, they will eliminate duplicate data entry with fixed asset and inventory control management solutions built into Yardi Voyager,” said Neal Gemassmer, vice president of international for Yardi.

About Karle Infra Pvt. Ltd.

Karle Infra Pvt. Ltd. is a real estate and urban infrastructure development company headquartered in Bengaluru, India. With over a decade long experience in developing properties in Bengaluru, Mysore and Goa, Karle Infra is now focused on developing a community-centric, world-class township in North Bengaluru. 

About Yardi

Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi serves clients worldwide from offices in Australia, Asia, Middle East, Europe and North America.

Rishabh Group Ropes in Farhan Akhtar as Brand Ambassador

Rishabh Group, a leading real estate developer in Delhi-NCR, has named actor and director Farhan Akhtar as their Brand Ambassador, who will henceforth promote the Group’s upcoming projects.

According to Sanjeev Jain, CMD, Rishabh Group, “We are overwhelmed to get associated with much sought-after, proven, successful and multi-talented actor Farhan Akhtar. We, as a company, constantly believe in innovation and committed to provide something different to our customers. Farhan is a name synonym for delivering something unique with his dedication and perfection. With our association, we are sure together will deliver many architectural marvels for our valued customers.”

Echoing the same sentiments Farhan Akhtar, said, “I am very happy to be associated with Rishabh Group. For me delivering something creatively unique to my fans has always been top on priority and it requires a lot of hard work, understanding of the subject and commitment. Rishabh Group has been known not only for focusing on the quality of construction but also safety of investment and integrity of commitment by providing people with improved quality of life and living standards”. 

Rishabh Group has developed more than 20 lakh square feet of residential and commercial space in the last decade.  The company has more than 20 lakh square feet of residential and commercial space in various stages of development and 30 lakh square feet of upcoming development.

Rishabh Group has completed residential and commercial projects in Indrapuram, Vaishali, Ghaziabad & Delhi NCR.

In the coming years, the Group will be focusing on providing International Class Studio Apartment, Affordable & Premium apartments as well as Commercial projects and Hotels, a release stated.

Supertech Limited launches Supertech Hill Crest Floors in Gurgaon

Supertech Limited, a leading real estate developer of Delhi-NCR, has launched its new project, Supertech Hill Crest Floors in Gurgaon.

Spanning over more than 140 acres of land, the project comprises of 3 BHK apartments ranging from 1350 sq. ft. to 1820 sq. ft.

The project is strategically located in Sector 2 on Sohna Road with an enviable connectivity, meticulous planning and execution by some of the veterans in the business today. The project is well connected to Golf Course Extension Road, Indira Gandhi International Airport, Ambience Mall, Medanta Hospital, G.D. Goenka School, B-Schools, daily utility stores, proposed metro corridors, Gurgaon-Delhi Expressway, Gurgaon-Faridabad Expressway and the NH 8.

Supertech Hill Crest Floors have been designed to cater to the needs of the modern society. Each apartment has a three-side open face and is aligned in an east-west direction. They comprise of spacious rooms with a 180 degree view extended area and are fully furnished with a modular kitchen, wardrobes, split ACs and much more.

An array of modern amenities and state-of-art clubhouse is also offered to the residents in the vicinity.

Embassy Group, Warburg Pincus to Jointly Develop Embassy Industrial Parks

Bengaluru: Embassy Group, India’s leading real estate developer has entered into an agreement with an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing to form a joint venture, Embassy Industrial Parks. 

The joint venture entity marks the Embassy Group’s entry into a new business segment focusing on the development of industrial and warehousing spaces near key cities across India. The market for modern industrial and warehousing spaces is rapidly expanding and is estimated to reach 125 million sq. ft. over the next five years.

Embassy Industrial Parks will have an equity commitment of up to USD 250 million, from its joint venture partners, to fund land acquisition and development. The business will primarily operate on the lease-rental model that the Embassy Group has successfully deployed in its commercial projects. These modern, well planned, technology-enabled industrial and warehousing spaces are targeted at industry verticals such as 3PL, e-commerce, FMCG, automobile ancillaries and retail. Warehousing in India is rapidly evolving from traditional set-ups with inefficient facilities to sophisticated solutions and modern state-of-the- art facilities.

Embassy Industrial Parks has developed a pan-India strategy and has built a dedicated team to execute its plans, making Embassy one of the few players to have a focussed all-India presence in this attractive segment of real estate.

Commenting on the formation of the joint venture, Jitu Virwani, Chairman & Managing Director, Embassy Group, said “We look forward to working closely with Warburg Pincus and leveraging their successful global experience in the industrial real estate asset class. This is an exciting new foray for the Embassy Group that allows us to move into a space that we expect to see grow tremendously - spurred by government policies, concepts like “Make in India” and the booming e-commerce industry.

It also gives me great pleasure to formally announce that Anshul Singhal has come on board as the CEO of Embassy Industrial Parks. He has a track record of consistently developing new businesses, driving innovation, aligning global joint ventures and nurturing strong client relationships that will help Embassy Industrial Parks quickly expand operations.

Viraj Sawhney, Managing Director, Warburg Pincus India Pvt Ltd said: “We believe the industrial and warehousing real estate sector in India presents strong growth potential, as companies in e-commerce and other industries seek reliable developers who can work with them nationally to meet their needs for quality warehousing infrastructure. We are excited to partner with the Embassy Group, a highly regarded real estate developer with a proven track record in leasing and timely execution of the build to suit model, and strong corporate relationships. The joint venture has assembled a dedicated, high quality team that we believe will help drive a rapid growth trajectory.”

Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, stated, “Embassy Industrial Parks is looking to build and lease 15-20 million sq. ft. over the next few years. The immediate focus will be to ensure that we take up strategic land positions near the six key markets of Mumbai, Delhi, Bangalore, Chennai, Pune and Ahmedabad. We will focus on providing our clients with spaces that are optimized to enhance supply chain efficiencies. These spaces will be developed with a host of amenities and will ensure we comply with the most exacting requirements for power, water and connectivity to distribution centres along major logistical corridors and ports.”  

Embassy Industrial Parks will offer spaces in industrial parks and help clients setup or expand their operations in India. These spaces will bridge the gap between light manufacturing units, distribution hubs, key consumers and source markets. Allowing Embassy Industrial Parks to address the distinct demand for modern industrial and warehousing spaces for the new world.

Indian real estate: Sobha on expansion mode

Bangalore-based real estate developer Sobha Limited is planning to double its size by adding 7 million sq feet of salable areas. Using its unique backward integration model, the developer is poised to strengthen its position in material suppliers market.

Sobha’s vice chairman and managing director J C Sharma told Business Standard that, "We have seen a positive market sentiment after the formation of new government headed by Narendra Modi. However, the real estate in India is yet to see any growth even though we have a positive economic condition. Seeing the current scenario, we feel that the recovery is not far away for the sector."

The realty firm is presently developing 50 projects across India covering 24 million sq ft of saleable area. The company has its presence in 24 cities across 13 states.

Sharma said, "We have planned about 15 million square feet of new project launches in the coming quarters to extend our existing geographies. Apart from this, we have about 50 residential projects in the developing state aggregating to 31.14 million square feet of developing area and 23.96 million square feet of saleable area. We have 31 ongoing projects covering 9.35 million square feet under various stages of construction on the contractual front. We are hopeful that we will continue to cater to the emerging needs of the realty sector."

Sobha is expanding in Pune by developing new projects and has tied up with smaller developers. The company sources said it has targeted to develop over one million square feet of residential space in Pune. The company has recently announced Rs 250 crore project in Pune which will have a commercial lifestyle club, duplex and three and four BHK apartments.

Sobha Developers is the only real estate company in India which has been following backward integration model which enables the company to manufacture all the key components used in construction in house - from concrete blocks to aluminum windows.