SPACE OPERATIONS
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.
Corporates embrace more flexibility amidst the hybrid work model
About 30% of occupiers are expected to expand their use of flexible office space over the next 12 months, while 17% are likely to consolidate their offices into fewer locations, CBRE said in its latest ‘2024 India Office Occupier Survey’.
Russia plans to create core of new space station by 2030
Russia aims to establish the core of its new orbital space station by 2030, according to its space agency, Roscosmos. The agency's head, Yuri Borisov, approved the timeline, which includes launching an initial scientific and energy module in 2027 and adding three more modules by 2030, with two additional modules planned between 2031 and 2033. Previously collaborating on the International Space Station (ISS), Russia plans to exit the ISS by 2028 and focus on its own station to address scientific, technological, and national security needs.
Now, any Indian citizen can register for a chance to fly to Space
Any Indian citizen can enroll in the programme by paying a fee of $2.50 (Rs 207.5) to cover the costs of verification checks aimed at ensuring safe and fair voting. Joshua Skurla, cofounder, Space Exploration and Research Agency (SERA) told ET they are excited to have India as part of its human spaceflight programme.
NASA: Boeing Starliner crew enjoys extended stay on ISS, they're in no 'rush to come home'
NASA extends Butch Wilmore and Sunita Williams' mission aboard Boeing's Starliner due to technical challenges like thruster failures and helium leaks. Despite setbacks, NASA assures their safety and plans for a return mission. Boeing faces public scrutiny despite mission success, amid comparisons with SpaceX's Crew Dragon. Both companies play pivotal roles in NASA's crewed missions to the ISS, navigating a competitive landscape in commercial space travel.
Awfis plans to raise seats by 50% in FY25
Awfis Space Solutions targets a 50% seat expansion to 135,000, focusing on managed office spaces to drive revenue growth. The company plans to add 40,000 seats by FY25, with new centers following a managed aggregation model. Sobia Khan's report highlights the successful addition of 15,084 seats, primarily under the managed aggregation approach.
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How MSMEs are spearheading the digitisation of energy space
Whether it's a smart fuelling station in Mumbai or an AI-driven oil rig in Gujarat, MSMEs are spearheading a digital transformation that promises to redefine the country’s energy future and drive sustainability in the Indian economy.
Are NASA astronauts struck on board a Boeing aircraft? What is this important mission they are a part of?
Two astronauts on board a Boeing Star Liner aircraft are struck in the International Space Station. They are undertaking a critical mission before returning to Earth.
Why will NASA pay SpaceX $843 million to plunge ISS into Pacific Ocean? Will it not burn up while making re-entry to Earth?
National Aeronautics and Space Agency has asked Elon Musk-owned company SpaceX to develop the ‘US Deorbit Vehicle’ that will lead the US sections of the ISS to its death when its time is over. But why? It could leave it to burn up while making re-entry to the Earth.
Russian satellite breaks up in space, forces ISS astronauts to shelter
A Russian satellite, defunct in nature, has now broken up into a hundred pieces, forcing astronauts aboard the International Space Station to take shelter from the space jump already in the outer universe.
SpaceX wins $843 million contract from NASA to bring ISS down to its 'watery graveyard': What's the plan?
NASA has chosen SpaceX for an $843 million contract to develop a US Deorbit Vehicle, tasked with safely bringing the International Space Station (ISS) out of orbit by 2030. This mission ensures a controlled re-entry into Earth's atmosphere, targeting the Pacific Ocean's remote Point Nemo. The decision underscores international efforts to manage the ISS's safe transition after its operational tenure since 2000.
SpaceX founder Elon Musk slams Boeing for too-many non-technical managers, says, they should be able to design aircraft
Elon Musk criticized Boeing CEO David Calhoun and said that Boeing had lost sight of its engineering core. Boeing is struggling with leadership transitions, safety concerns, and legal issues.
SSLV's first dedicated commercial launch to put Australia-built satellite into orbit in 2026
NSIL and Space Machines Company have announced that their newest rocket, the SSLV, will launch its first dedicated commercial launch with the Optimus satellite. The launch will set the stage for Space Machines Company's second Optimus spacecraft, the largest Australian-designed and built spacecraft to date. The mission, named Space MAITRI, will mark a significant milestone in the strategic partnership between Australia and India in the space domain, fostering closer ties between commercial, institutional, and government space organizations.
CJ Darcl leases 1.25 lakh square feet space at Narasapura IndoSpace park
This strategic move is aimed at enhancing CJ Darcl's warehouse and distribution management capabilities in South India, allowing the company to provide tailored end-to-end logistics solutions to its clients.
Flexible workspace operator Spring House leases 300,000 sq fr at MVN Aero One mall in Gurgaon
Spring House secured 300,000 sq ft at Gurgaon's MVN Aero One mall, offering cost-effective office spaces. The location caters to diverse demands, including from large enterprises and startups focusing on research and development operations.
NASA's Voyager 1 Returns: 46-year-old spacecraft is fully operational again, sends signals from 15 billion miles away
After facing a grave computer problem last year, NASA's Voyager 1 spacecraft is now fully operational, sending back usable data about interstellar space. The spacecraft, launched in 1977, has been instrumental in transmitting data about outer planets and the solar system's far reaches for nearly fifty years. Engineers spent months resolving the issue, which was particularly challenging due to the spacecraft's distance from Earth. Despite its age, Voyager 1 continues to defy expectations and provide invaluable insights into the universe.
Bosch leases 691k sq ft office space in Bengaluru for expansion
Bosch Global Software Technologies has leased 691,320 square feet of space in Bengaluru, India, to expand its operations. The property, located at Life Science Park in Electronic City, will seat around 8,000 employees and house the KPO operation under Robert Bosch. The lease is set to go live by the end of 2024. Bosch is a key partner in the global automotive industry and has the largest development centre outside Germany for end-to-end engineering and technology solutions.
Coworking co EFC January-March net profit up 205% at 27.94 crore
Segment-wise, the only listed co-working space company's rental business accounted for a major share of total revenue at Rs 69.95 crore followed by fit out contracts business at Rs 23.24 crore and Rs 5.92 crore from other businesses.
Starbucks’ FY24 losses widen to Rs 81.84 crore for India operations
Of its total loss, Tata Consumer bore Rs 40.91 crore. This is a significant increase compared to the previous year, when Starbucks reported a loss of Rs 24.97 crore on sales of Rs 1086.89 crore.
Spacetech startup GalaxEye tests SAR tech on NAL’s pseudo satellite
GalaxEye CEO Suyash Singh said that the company tested its synthetic aperture radar (SAR) technology on a subscale high altitude pseudo-satellite (HAPS) developed by the National Aerospace Laboratories (NAL).
Brookfield REIT Q4 Results: Net income jumps 89% YoY at Rs 461 crore
Brookfield India Real Estate Trust (BIRET) on Thursday reported an 89 per cent rise in its adjusted net operating income to Rs 460.8 crore during the March quarter and announced distribution of Rs 208.6 crore to unitholders. Its net operating income (NOI) stood at Rs 244.4 crore in the year-ago period.
Nexus Select leases 1.1 million sq ft retail space in FY24, records highest occupancy
Blackstone-backed Nexus Select Trust, India’s first listed retail REIT, achieved a record 97.6% occupancy in FY 2023-24. The trust is set to acquire three Hyderabad malls, financing through debt, aiming for asset portfolio growth.
Deepak Nitrite surges 4.8% after double upgrade from Morgan Stanley
The brokerage said Deepak Nitrite is in the midst of its largest investment cycle, transitioning into India's largest, integrated phenolics producer.
Arvind SmartSpaces reports highest-ever sales at Rs 1,107 crore in FY24
Arvind SmartSpaces reported its highest-ever sales at Rs 1,107 crore in 2023-24, up 38% from the previous year. The company's net profit increased 62% to Rs 41.6 crore, while revenue from operations grew 33% to Rs 341 crore. The company acquired new projects with a topline potential of Rs 4,150 crore, and is set to deepen its presence in Gujarat, Bengaluru, and Maharashtra. Demand optimism in residential markets is expected to continue in the medium term.
Co-living operator Settl to reach 8,000 beds in FY25
Co-living operator Settl aims to double its capacity to 8,000 beds by FY 25, following impressive growth. With revenue climbing 100%, reaching Rs 33 crore by March 2024, Settl's success reflects the increasing demand for co-living spaces among young professionals in major Indian cities.
ISRO releases ISSAR 2023 report on vulnerability of space assets to collisions
ISRO has released its Indian Space Situational Assessment Report (ISSAR) 2023, evaluating the vulnerability of its space assets to environmental hazards and artificial space objects. The report highlights 1,37,565 close approach alerts and 3,033 alerts for close approaches within one kilometer. Despite identifying 2,700 close approaches within 5 kilometers of other satellites, no critical collisions were predicted. ISRO's System for Safe and Sustainable Space Operations Management aims to enhance compliance with international space guidelines. ISRO is actively engaged in international forums addressing space debris and long-term sustainability of outer space activities.
Flexible office operator Awfis gets SEBI nod for IPO
Awfis had filed its Draft Red Herring Prospectus (DRHP) in December 2023.
Spacetech startup Digantara unveils 25,000-sq ft facility in Bengaluru
The new facility, spanning 25,000 square feet in Hebbal, Bengaluru, serves as a satellite assembly, integration and testing (AIT) facility. The Bengaluru-based startup is currently planning to launch a constellation of space-based space surveillance satellites.
Flexible space operators takes 22% share in office space leasing
Flexible space operators have become the second-largest sector in office leasing for the first time in the Jan-Mar quarter, accounting for 22% of the total 14.4 million sq ft leased. With tech and BFSI sectors leading, India's office sector outlook remains positive, driven by growing demand and diverse segments.
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