Page 3 - Indian Corporates

Corporates to utilise more flexible office spaces in next 3-4 years: Report

The share of flexible office spaces in the total premium office supply across six major cities has risen to 6-7 per cent and is set to reach double-digit in the next 34 years amid a rise in demand for flex workspaces from large corporates, according to Colliers. Real estate consultant Colliers India on Friday released a report 'Shared Office Spaces in India Flexing Ahead' at industry body FICCI's conference in Bengaluru. "The flex penetration in the Indian office market is set to cross double digits in the next 34 years, up from 6-7 per cent currently," Colliers India CEO Badal Yagnik said in the report. Flexible space operators have 43.5 million square feet under their operations across six major cities -- Bengaluru, Chennai, Delhi-NCR, Mumbai, Hyderabad and Pune. The total seats are estimated at 6,24,000. Bengaluru has 14.7 million square feet of office space under this flexible space model. "With the growing adoption of flex spaces within mainstream commercial office real esta

Infra push: IT hubs lead surge in price of residential real estate

Hyderabad's Gachibowli logs highest rise in avg prices between Oct 2020 and now

The super power of longer work hours

'More hours' does different things at the level of individual, firm or country

Taking a lead: Startups beat corporates in gender inclusivity race

Women account for 35% of people employed in startups, compared to 19% in the corporate sector, shows a study

India Inc divided on Narayana Murthy's call for 70-hour work week to youth

While some corporate leaders endorsed Murthy's "sane advice" at a time when "we are in a nation-building stage", others said productivity was not linked to hours employees put in

Finance ministry notifies prospective levy of GST on corporate guarantees

The finance ministry has issued a notification stating goods and services tax will be levied on guarantees provided by corporates to their subsidiaries prospectively. The Goods and Services Tax (GST) council, comprising central and state finance ministers, had earlier this month clarified on the taxability of corporate guarantee, saying it would be subject to 18 per cent GST. Tax experts had then sought clarity on GST levy on past transactions as many companies might not be able to recover the tax from subsidiaries or group companies. The finance ministry on Thursday notified amendments to Central GST rules, saying that the corporate guarantee would be taxable from the date of the notification. GST at 18 per cent will be levied on 1 per cent of the total amount guaranteed by the parent company or the actual consideration, whichever is higher, the notification said. "This prospective modification shall have no bearing on transactions executed prior to October 26, consequently ...

Fund raised via bonds on private placement up 73% to Rs 3.3 trn in Apr-Aug

Corporates garnered Rs 3.31 lakh crore through the issuance of bonds on a private placement basis in the first five months of the ongoing fiscal, a surge of 73 per cent from the year-ago period. The funds were mopped up to strengthen balance sheets, retire existing debt and support working capital requirements, market experts said. According to data available with markets regulator Sebi, Rs 3.31 lakh crore was mopped-up through the route during the April-August period of the current fiscal. In comparison, firms raised Rs 1.91 lakh crore in the first five months of 2022-23, data showed. Market experts attributed several factors to higher fund mobilisation through private placement of corporate bonds such as increase in credit demand, soaring bank loan rates, and expensive overseas borrowing. In terms of numbers, 520 issuances took place during the period under review as compared to 508 in the year-ago period. In private placements, firms issue securities or bonds to institutional

SBI to encourage corporates to implement emission reduction technology

State Bank of India, the country's largest lender will encourage corporates to implement emission reduction technologies and get better terms for availing finance, an official of the bank said on Thursday. Ashwini Kumar Tewari, the managing director (risk, compliance and stressed assets resolution group), SBI, said that the bank will see how it can help corporates in this regard but at the moment does not ask them of their plans for net zero. At present SBI gives 25 basis points concession on interest rates for electric vehicles. At a later stage, corporates with a better ESG (environment, social and corporate governance) score will get better terms for getting finance from it, he said. "We don't ask for net zero plan from the companies now. Ultimately, we will go to it. We will start conversation with the corporates and that process will start," he said at the sidelines of the banking conclave organised by CII here. 'Net zero' emissions refer to the acheiving of an overall balance

Market regulator Sebi eases corporate bond issuance norms for large firms

Sebi removes penalty, introduces incentives

Mental health platforms aim for higher growth on rising corporate tie-ups

Several firms are eyeing growth due to an increase in corporate tie-ups and rising awareness about mental health

TMS Ep498: Indian economy, corporate themes, market momentum

How can India become the world's third-largest economy? What themes will drive India Inc in coming months? Can the Sensex hit 78k by 78th Independence Day? All answers here

Corporation tax collections decline 8.19% till June 17 this year: CAG

The FY24 Budget has projected a corporation tax mop-up of Rs 9.23 trillion, up 10.5 per cent from Rs 8.35 trillion in 2022-23 (Revised Estimates)

EFC (I) to expand office space capacity 2.5 times to 60,000 desks in FY24

Co-working operator EFC (I) Ltd plans to expand its capacity by more than 2.5 times to 60,000 desks as it seeks to encash rising demand for flexible workspace from corporates. Pune-based EFC (I) Ltd, which is a serviced office/co-working space operator, is listed on BSE. It has a presence in seven states spanning over 35 co-working centres totalling 1.5 million square feet area. In a statement, the company said that it plans to "triple its capacity -- from 23,000 to 60,000 seats by March 2024." EFC (I) will add 10,000 seats during the first quarter of this fiscal year. It mentioned that 65 per cent of the company's business comes from institutional clients, while the remaining 35 per cent comprises the retail part. Umesh Sahay, Founder & CEO of EFC (I) Ltd, said, "We have built an ecosystem comprising efficient, safe, well-designed and ergonomics-friendly workspaces - ranging from made-to-order offices to co-working solutions." "In the past six years, we achieved a scale of 23,00

Refinancing risk to India Inc with debt in foreign currency, says Moody's

This would be owing to a combination of higher interest risk in the international financial market and a likely deterioration in their finances

Where is corporate India in the marriage equality debate?

Even international companies in the country have not commented on the issue

Corporates stare at 25% jump in financing cost this fiscal: Report

To tame the stubbornly high inflation, the Reserve Bank has hiked the key policy rates by 250 bps so far since May 2022 and at 6.50 per cent it is already 25 bps more than the pre-February 2020 levels

TMS Ep403: Covid-19, dismantling Big5, markets, reusable launch vehicle

Is India staring at another Covid-19 wave? Should large groups like Adani and Reliance be dismantled? Will Covid-19 fears spook the market again? What is a reusable launch vehicle? All answers here

Increasing interest costs

Corporate results indicate improving demand

Corporates must adopt policies to nurture women employees' career: Colliers

To encourage women participation in formal workforce, real estate consultant Colliers India has suggested that corporates should adopt HR policies that nurture career of female employees while the design of offices should embrace diversity. It suggested corporates to have offices centrally located, adopt hybrid working model and provide child care facilities, among other solutions. On the occasion of International Women's Day, Colliers India has come out with a report 'Designing Workplaces for Women'. The report gives recommendations to create more inclusive and women-friendly workplaces. "India has a higher proportion of employable women at about 52 per cent, but actual employed women workforce stands at an abysmal low," Collier India CEO Ramesh Nair said. "Equality at workplaces comes from two aspects - policies that a company formulates that nurture women and their careers, and an office design that embraces inclusivity," he said. Nair pointed out that offices have been built f

ESG reporting by Indian corporates has improved by 160%, shows research

Environmental, Social, and Governance (ESG) reporting by Indian corporates has improved by 160 per cent, CareEdge Research said