NEW DELHI LEASING
NCLT directs Go First to release four aircraft engines of ELF
The NCLT directed Go First to release four aircraft engines to Engine Lease Finance (ELF) BV, with the resolution professional already initiating the return process for one engine. ELF, based in Shannon, Ireland, is a prominent engine financing and leasing company. The tribunal scheduled further hearings for August 9 to consider objections from other engine lessors.
Retailers focusing on main streets for new store opening
According to Cushman & Wakefield, the continued dominance of main street retail leasing is owing to limited new mall openings and a strong demand for high-quality retail spaces.
Global Capability Centres drive office leasing in H1 2024, with a 37% share
India's office leasing market is dominated by Global Capability Centres (GCCs), with 37% of total leasing activity in January to June 2024. The country's robust workforce, competitive costs, and established ecosystem make it a key market for GCCs. With a projected 20% growth in GCC presence by 2025, the Indian office market is poised for significant expansion. 67% of GCCs plan to increase their office portfolios by over 10% in the next two years.
India office property market surges with record gross leasing in 2024 first half
The Indian office property market has surged, driven by increased economic activity and corporate occupancies, reaching a record 33.5 million sq ft in gross leasing in the first half of the year. Global Capability Centres (GCCs) significantly contributed, with strong leasing momentum across major cities, indicating potential for a record-breaking 2024.
Delhi airport will soon cheer up domestic flyers with two new liquor vends
This initiative aims to help Delhi regain share of domestic liquor sales following the closure of the private-operated premium liquor stores due to the rescission of Delhi Excise Policy 2021-22 in September 2022, the report (by Atul Mathur) said.
Indian office market shows strong growth in H1 2024
The Indian office market showcased resilience in H1 2024 with significant office leasing and new supply growth. Occupiers' confidence, highlighted by major players like HCL Technologies and Tech Mahindra, spurred demand for quality office spaces.
Fashion & Apparel sector emerge front-runners in India's retail landscape: JLL
The report further says a positive outlook in the organised retail market is seen post COVID-19, the sector has witnessed a surge in the launching of new infrastructural development across urban centres and emerging cities. In the first quarter of 2024 (Jan-Mar) 1.1 million square feet of retail spaces were leased.
NCLT to hear insolvency plea filed by Engine Lease Finance against SpiceJet on August 2
The National Company Law Tribunal (NCLT) has sent a notice to SpiceJet following an insolvency plea initiated by Engine Lease Finance BV, an aircraft engine lessor involved with the financially troubled airline.
Leasing takes off as Make in India settles
The government's focus on Make in India and production linked incentive (PLI) schemes to promote local manufacturing has started to yield results as seen in rising leasing demand for light manufacturing and warehousing. The growth is further evidenced by a 4.5 times surge in leasing activity for light manufacturing spaces in 2023, compared to 2020.
Engine Lease Finance files fresh insolvency plea against SpiceJet
Engine Lease Finance is the latest of engine lessors that have approached courts accusing SpiceJet of defaulting on payments and seeking repossession of engines.
Gensol Engineering Q4 Results: Net profit grows to Rs 20 crore
Gensol Engineering Ltd on Tuesday reported a nearly three-fold jump in its consolidated net profit to Rs 20 crore during the March 2024 quarter, on account of higher revenue.
Hiring surge in travel and tourism: What it means for mid-career and senior roles
India's travel and tourism sector has rebounded post-pandemic, contributing Rs 16.5 trillion to the economy and creating 39 million jobs by 2020. The sector is also witnessing a spike in demand for AI specialists and data operations in the hospitality industry.
As mercury rises, so does the demand for home delivery
Ecommerce platforms are experiencing a surge in demand for essentials like groceries, leading to a spike in deliveries. This surge is also increasing the demand for manpower at dark stores and distribution centers. Orders in the National Capital Region have seen a sharp increase, with consumers also ordering ice-creams and beverages online.
Why India needs three salary wedges to look beyond reservations to reduce injustices
Rahul Gandhi's quota cap strategy echoes Indira Gandhi's tactics on quotas from Neerja Chowdhury's book. In 1980, she guided P Shiv Shankar on handling the Mandal Commission report, emphasizing the delicate balance of quotas' impact. India in 2047 aims to move beyond reservations and adopt an abundance mentality focusing on employment and education, shifting from scarcity thinking.
Kia partners with Orix to introduce vehicle lease programme
Kia India has partnered with Orix auto infrastructure services to launch the 'Kia Lease' program, aiming to provide customers with a hassle-free ownership experience without maintenance, insurance, or resale concerns. The initiative has been rolled out in major cities like Delhi NCR, Mumbai, Hyderabad, Chennai, Bengaluru, and Pune. Kia India anticipates significant growth in the leasing segment, aligning with the global trend and catering to the evolving needs of consumers.
IL&FS to monetise its stake in DND flyover connecting Delhi to Noida
IL&FS plans to sell 26% stake in NTBCL, DND flyover operator, for debt reduction. Public shareholders involved. NTBCL faces financial crunch, demands funds, awaits Supreme Court decision on toll issue.
Coworking firms take on lease 31 lakh sq ft office space in Jan-Mar, up 7pc annually: CBRE
In its latest report on the Indian office market, real estate consultant CBRE noted that flexible operators became second largest contributor to the total gross demand for office spaces during the quarter ended March 2024.
Wilmington moves NCLAT in SpiceJet insolvency case
Wilmington Trust SP Services contended that as a trustee, it could file an insolvency petition on behalf of operational creditors, which was the ground raised by NCLT, Delhi, to dismiss its petition. Counsel for Wilmington noted that NCLT, Mumbai, had passed orders in the past where it had allowed the trustee to file an insolvency petition. Wilmington filed an insolvency petition in NCLT, Delhi, in June last year over a debt of $11.2 million for leasing an aircraft to SpiceJet.
PHF Leasing to hire 200 employees over next 2 quarters
PHF Leasing Ltd, a deposit accepting NBFC, on Tuesday said the company is targeting to hire another 200 people across sectors over the next two quarters, keeping up with its growth plans and new office openings. The Jalandhar-headquartered NBFC has over 400 employees.
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