Latest news with #Mehrotra
Hans India
2 days ago
- Business
- Hans India
India's high-activity micro markets to drive 80 pc of office demand and supply in few years
Bengaluru: High-activity micro office markets in India are likely to witness at least 1 million square feet of average annual demand and supply, and collectively drive more than 80 per cent of the office space demand and new supply in the next few years, a report showed on Thursday. High-activity micro markets across the top seven cities of the country have been witnessing consistently high demand and supply since 2020. Of these, four high-activity micro markets are in Bengaluru, three each in Delhi-NCR and Pune, two each in Chennai and Hyderabad, and one in Mumbai, according to Colliers data. These micro markets are spread across secondary and peripheral business districts and will continue to drive India office market over the next few years amid city expansions, ongoing infrastructure developments and evolving work models. 'India's office market is poised for a steady strong growth, led by 15-20 high-activity micro markets. While some of these micro markets are already established commercial real estate hubs, emerging micro markets can potentially scale up and witness heightened traction in the upcoming years,' said Arpit Mehrotra, Managing Director, Office services, India, Colliers. Interestingly, India will continue to be strategically positioned in terms of rental arbitrage, with more than half of the Grade A demand expected in micro markets having sub or near dollar rentals, Mehrotra added. Of the total 38 million sq ft of flex space leasing across the top seven Indian cities since 2020, 59 per cent corresponded to the top 10 micro markets. Within these, SBD-Hyderabad, ORR-Bengaluru and Baner-Balewadi, Pune cumulatively drove around one-third of the flex space uptake in India. On the GCC front, nearly 70 million sq ft of GCC demand during the last five years has been concentrated in the top 10 micro markets, accounting for 73 per cent of the total GCC leasing in India, said the report. Although most micro markets in India have seen a rental appreciation compared to pre-pandemic levels, select micro markets in Mumbai and Delhi-NCR continue to lead in terms of average rentals. Of the 488 million sq ft of REIT-worthy office stock in India, 56 per cent is in the top 10 micro markets.
Fashion Network
13-06-2025
- Business
- Fashion Network
Fix My Curls announces rebrand and new logo
Haircare brand Fix My Curls has announced a comprehensive rebrand aimed at strengthening its connection with India's growing community of curly-haired consumers. The update introduces a refreshed logo, vibrant colour palette, premium packaging, and an enhanced digital experience. 'Fix My Curls has always been about championing its community, and when we realised our community wanted more for us, we took our time and delivered,' said brand founder Anshita Mehrotra in a press release. 'Our rebrand is simply a makeover- giving our mission to give curly the zest it needed to move full speed ahead as a category.' The rebrand is designed to reflect the brand's evolution from a niche player to a market leader in the textured haircare category. 'We see Fix My Curls becoming a true household name and a benchmark in beauty innovation- from packaging to product to community experience,' said Mehrotra. The rebrand includes colour-coded packaging for easier routine building, cleaner fonts, and a clearer product hierarchy to improve navigation across retail and digital platforms. A redesigned website introduces new features such as curl quizzes, product comparison tools, and community-led content. The brand sold over 200,000 units in financial year 2024, growing from Rs 1.2 crore in its first year to Rs 25 crore. Its digital-first community now includes more than 100,000 users.
Time of India
09-06-2025
- Business
- Time of India
Commercial real estate: How false promises, legal gaps and poor location choices can make it dud investment
When Bengaluru-based Ankush Mehrotra invested in two office units in a commercial complex in Greater Noida, he was promised attractive returns. He had paid Rs.1 crore for the two blocks. But the reality turned out to be starkly different. Years later, both properties remain vacant, and his return on investment has dipped significantly. Despite not having a tenant, Mehrotra shells out Rs.75,000 per block annually as maintenance charges. Commercial real estate often appears lucrative, with projected rental yields of 6-7% compared to the 3-5% typical of residential spaces. But these higher returns come with greater risks and challenges. One of the biggest hurdles is finding tenants. Even once-thriving shopping hubs can lose relevance. There are instances of many malls all over the country that have faded into obscurity with the rise of newer, better-located competitors. Such ghost malls are not isolated cases. According to a 2024 report by Knight Frank India, 75% of the total 125.1 million sq. ft. of gross leasable retail space in the country is currently classified as 'ghost malls.' Delhi-NCR alone accounts for 21 such shopping centres — the highest in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cikarang: Here's How Much Dental Implants Really Cost In 2025 Dental implant | Search Ads Learn More Undo Costly entry, tough to sell Steering clear of such underperforming commercial properties is key to achieving meaningful returns. With limited demand, offloading such assets becomes an uphill task. While papers may show capital appreciation, the actual realisation is often a fraction of that, if you are able to find a buyer at all. Mehrotra is currently facing this challenge. Even if he manages to sell, high transfer charges and taxes payable to the Greater Noida Authority would significantly erode his gains. 'Assuming I get the current estimated value of about Rs.1.3 crore, I'll probably be left with a loss of around 1-2%, de-Two buyers share how false promises, legal gaps, and poor location choices turned investment hopes into heavy losses. The mirage of commercial real estate real estate spite holding the property for 10 years,' he says ruefully. Live Events Many investors in similar situations find themselves stuck. Had the same money been allocated to a different asset class, returns could have been far superior without the burden of managing the property. If Mehrotra had invested his Rs.1 crore corpus in equity markets and earned an average of 10.5%, his investment could have grown to around Rs.2.37 crore, leaving him with a profit of Rs.1.37 crore post tax. Location and diligence matter However, not all properties share the same fate. With due diligence, they can still be profitable. Location, for instance, remains the most critical factor. 'Commercial investment should not be done in geographies where there is too much supply and too little demand,' says Ganesh Arunachalam, Vice President, Property Share. A favourable location ensures better tenant inflow and higher occupancy. Even then, tenant retention can pose challenges. Businesses often vacate spaces if performance dips. Arunachalam suggests collecting a minimum of six months' worth of security deposit and including a lock-in period in the contract to prevent premature exits. 'Letting tenants carry out their own fitouts also increases their commitment and makes them less likely to leave,' he adds. Investors should also transact through Real Estate Regulatory Authority (RERA)-registered brokers to avoid future disputes. A lack of transparency can prove costly, as Pune-based Rahoul Bondrre learnt. He purchased a shop based on a broker's assurances, only to later discover that the property was in a collector's zone — a government-owned area leased to individuals — making resale impossible. He had to pay Rs.5 lakh more to resolve the issue. 'When I purchased the property, no one was aware of this law, and the lawyers said that the papers looked fine,' he shares. Compounding his troubles, the area was still underdeveloped, and it took seven years to find a tenant. Misrepresentation by brokers is not uncommon. In Mehrotra's case too, his broker promised a guaranteed lease and upcoming metro connectivity, none of which materialised. With no tenant and high maintenance costs, his asset turned into a liability. In extreme cases, some brokers offer to buy back the property, but only if the investor commits to another purchase using the sale proceeds. Buyers caught in such traps may have limited legal recourse, but there are still a few legal actions that can be taken. Legal remedies Gaurav Dasgupta, Partner, Khaitan & Co., explains, 'A broker has a fiduciary duty towards the buyer, as the buyer relies on the broker's information, expertise, and knowledge to make the property purchase and pays brokerage accordingly. If the broker provides a misleading or false rental yield promise, it constitutes a breach of that fiduciary duty.' Alay Razvi, Managing Partner, Accord Juris, explains, 'If a buyer wants to take legal action, there must be a written contract clearly stating the returns that were promised. Agents often make false claims to influence the sale, but just not getting the returns you expected isn't enough to take legal action, unless you can prove the broker misled you.' Also, if the project and the broker are registered under RERA, and an allottee believes that the broker gave inflated or misleading rental yield projections, a complaint can be filed with the respective state's RERA authority. The regulator has the power to impose penalties and interest on the agent. In Bondrre's case, it was mentioned in the agreement that the property fell under the collector's zone. 'It should have raised a red flag. Buyers should always engage competent lawyers to conduct a thorough title investigation and to draft contracts that go beyond formality and address actual risk,' says Rishabh Gandhi, Managing Partner, Rishabh Gandhi and Advocates. However, Dasgupta cautions against assuming that a legal redress is easy. 'Practically speaking, taking a successful legal action against the broker might be quite difficult. The burden of proof, to a large extent, is on the purchaser to show that the broker's misleading statements directly caused him to invest. A lot of these conversations about rental yield with the brokers are one-on-one or verbal, and ascribing liability on the broker becomes practically difficult in the court,' he says. That's why having a well-drafted contract with complete disclosures is essential. For added safety, investing in Grade A properties is recommended, as these often come with better tenant profiles and regulatory compliance. However, the ticket size of such assets can be steep, often in the range of Rs.10-15 crore putting them out of reach for most middle-class investors. The alternative route 'SM REITs (Small and Medium Real Estate Investment Trusts) and traditional REITs are some other ways to invest. They invest your money in Grade A properties, and you may get a reasonable return on your investment,' advises Arunachalam of Property Share. Unlike traditional REITs that pool investor money into large-scale, diversified real estate portfolios, SM REITs focus on smaller, professionally managed, income-generating commercial properties. These vehicles offer access to premium assets with a lower entry barrier, starting at Rs.10 lakh and are gaining popularity among retail investors looking for more curated exposure to commercial real estate. However, Ashish Chadha, a registered investment adviser based in Gurugram warns, 'Most investors prefer global REITs as Indian options may not be attractive yet. Liquidity can also be a concern sometimes.' Srikant Bhagavat, Managing Director, Hexagon Capital Advisors, says, 'Right now, SM REITs have limited use cases. But traditional REITs offer a promising future. They allow investors to gain exposure to specific segments of real estate, like malls, office spaces or residential projects.' Basically, lack of options in the REITs space means there are negligible options at the moment, till this space develops. So, whether you're investing directly in commercial property or through a REIT, the risks are there, and investors must stay vigilant, do their due diligence, and treat every property pitch with a healthy dose of scepticism.
The Hindu
30-05-2025
- Business
- The Hindu
Grammarly secures $1 billion from General Catalyst to build AI productivity platform
Grammarly has raised $1 billion in non-dilutive financing from General Catalyst to expand its artificial intelligence (AI) offerings, aiming to grow into a comprehensive productivity platform, the companies said on Thursday. Grammarly, known for its popular writing assistant tool, plans to use the capital to fund sales and marketing costs and strategic acquisitions. It looks to use AI to build more communication-based productivity tools and even hosts third-party tools on its platform by leveraging access to its 40 million daily users. The investment, one of the biggest out of General Catalyst's Customer Value Fund (CVF), could help late-stage tech companies like Grammarly accelerate growth by using dedicated capital to acquire new customers. By reallocating funds typically tied up in sales and marketing, Grammarly can invest more in product development. In return, General Catalyst doesn't receive an equity stake in Grammarly, but will get a capped return linked to revenue generated through using this capital. This is structured as a percentage of the revenue generated from the fund being used in customer acquisition. Founded in 2009, Grammarly has an annual revenue exceeding $700 million and is profitable. In December, Grammarly appointed Shishir Mehrotra, previously CEO of the acquired productivity platform Coda, as its new leader, signaling a push into broader AI-powered workplace tools. "As Grammarly is going through a huge transformation of going from being a what is mostly known as a single-purpose agent to being an agent platform, it just felt very important for us to be able to bet big in our product development and in M&A as well as in our growth strategies," Mehrotra said in an interview. He added said the company has an eventual goal to go public, although no imminent plans. "I'm right now just focused on making sure we're innovating with new products, growing as fast as we can. But when we feel ready, we'll go public," Mehrotra added. The dedicated growth investment, if it pays off, could also benefit the valuation of Grammarly and General Catalyst's stake in the company, as it has also been an equity investor in Grammarly's series B funding in 2017. San Francisco-based Grammarly has raised over $550 million in venture capital, according to PitchBook. It was last valued at $13 billion in 2021. General Catalyst's Customer Value Fund operates apart from the firm's main venture funds with separate limited partners, and is not included in the newly raised $8 billion fundraising the firm announced. This approach is part of a strategic evolution for the tech investor, led by CEO Hemant Taneja, as it seeks to grow beyond the traditional venture capital model, including creating innovative funding mechanisms. Its customer acquisition fund has invested in nearly 50 companies, including Lemonade and Fivetran, as it leads on growth metrics to a more predictable path to returns. "Companies like Grammarly basically have a machine where they can invest dollars in sales and marketing and generate a very consistent return," said Pranav Singhvi, Managing Director at General Catalyst, "With this wave of AI, giving Grammarly the firepower to actually go and invest could land those customers beyond the 40 million."
Time of India
30-05-2025
- Business
- Time of India
Grammarly secures $1 billion from General Catalyst to build AI productivity platform
Grammarly has raised $1 billion in non-dilutive financing from General Catalyst to expand its artificial intelligence (AI) offerings, aiming to grow into a comprehensive productivity platform, the companies said on Thursday. Grammarly, known for its popular writing assistant tool, plans to use the capital to fund sales and marketing costs and strategic acquisitions. It looks to use AI to build more communication-based productivity tools and even hosts third-party tools on its platform by leveraging access to its 40 million daily users. The investment, one of the biggest out of General Catalyst's Customer Value Fund (CVF), could help late-stage tech companies like Grammarly accelerate growth by using dedicated capital to acquire new customers. By reallocating funds typically tied up in sales and marketing, Grammarly can invest more in product development. In return, General Catalyst doesn't receive an equity stake in Grammarly, but will get a capped return linked to revenue generated through using this capital. This is structured as a percentage of the revenue generated from the fund being used in customer acquisition. Founded in 2009, Grammarly has an annual revenue exceeding $700 million and is profitable. In December, Grammarly appointed Shishir Mehrotra, previously CEO of the acquired productivity platform Coda, as its new leader, signaling a push into broader AI-powered workplace tools. Live Events "As Grammarly is going through a huge transformation of going from being a what is mostly known as a single-purpose agent to being an agent platform, it just felt very important for us to be able to bet big in our product development and in M&A as well as in our growth strategies," Mehrotra said in an interview. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories He added said the company has an eventual goal to go public, although no imminent plans. "I'm right now just focused on making sure we're innovating with new products, growing as fast as we can. But when we feel ready, we'll go public," Mehrotra added. The dedicated growth investment, if it pays off, could also benefit the valuation of Grammarly and General Catalyst's stake in the company, as it has also been an equity investor in Grammarly's series B funding in 2017. San Francisco-based Grammarly has raised over $550 million in venture capital, according to PitchBook. It was last valued at $13 billion in 2021. General Catalyst's Customer Value Fund operates apart from the firm's main venture funds with separate limited partners, and is not included in the newly raised $8 billion fundraising the firm announced. This approach is part of a strategic evolution for the tech investor, led by CEO Hemant Taneja, as it seeks to grow beyond the traditional venture capital model, including creating innovative funding mechanisms. Its customer acquisition fund has invested in nearly 50 companies, including Lemonade and Fivetran, as it leads on growth metrics to a more predictable path to returns. "Companies like Grammarly basically have a machine where they can invest dollars in sales and marketing and generate a very consistent return," said Pranav Singhvi, Managing Director at General Catalyst, "With this wave of AI, giving Grammarly the firepower to actually go and invest could land those customers beyond the 40 million."
