Mumbai, Maharashtra, India – Business Wire India
The Hon’ble National Company Law Tribunal (“NCLT”) has on 9th January 2023 approved the resolution plan submitted by Adani Goodhomes Pvt. Ltd. for the takeover of Radius Estates & Developers Pvt. Ltd, viz. the special purpose vehicle for the Ten BKC Project.
Ten BKC is a centrally located landmark residential project in Mumbai launched in 2015-16. The project was at an early stage of construction but got stalled in January 2020 on account of the various difficulties faced by Radius Estates & Developers Pvt. Ltd. The Society terminated its arrangement with the developer and were willing to continue with the project inter-alia if the construction resumed immediately. The situation was further aggravated when certain financial creditors dragged Radius Estates & Developers to the Hon. NLCT, under the Insolvency and Bankruptcy Code.
This left 176 Society Members and approx. 400 homeowners in a precarious position with little visibility on completion of the project. Several of them had taken mortgage loans and were living on rent causing severe duress and financial burden. Given the project was still at an early stage of construction with more than 220 slabs yet to be cast, the incoming developer would have had to incur huge costs of over Rs. 1,000 Cr costs to complete the project.
With the support of the existing joint venture partner MIG (Bandra) Realtors & Builders Pvt. Ltd., Adani Goodhomes stepped in and submitted a resolution plan to keep the project afloat. Adani Goodhomes submitted a resolution plan to complete the project without charging any additional consideration to the homeowners.
Despite the complexities, the resolution plan submitted by Adani Goodhomes was approved by an overwhelming 83% of the Committee of Creditors in December 2021 post which Adani Goodhomes infused fresh funds for immediate resumption of construction. In the interest of the project, besides the consideration as per plan, Adani Goodhomes gave up claims to over Rs. 200 Cr of assets, over and above claims of Rs. 800 Cr from Radius companies that the COC would be entitled to.
Some minor creditors, who represent ultra-HNI investors, have been continuously opposing the plan, despite having received much higher returns in the past. The Hon’ble NCLT nod offers a respite for stuck & distressed real estate projects and has set a precedent, giving hope to many such affected homeowners. Had Adani Realty not stepped in, Radius Estates & Developers would have gone into liquidation, leaving all homeowners in a lurch.
Homebuyers are relieved with Adani Goodhomes’ takeover of the project. Mr. Ravi Shetty (Chairman, Society) said, “Adani taking over the project has ensured a complete turnaround for the members of the Society who, now more or less, are assured of getting their homes back. It has been over 8 years since we vacated our homes. More than 60% of the members are 70 years and above and, therefore, seeing the light at the end of the tunnel has made all the difference. Almost 2,000 labor working on the site is a huge thing for the Society. It is our endeavor to get our homes back and therefore, we were extremely keen about having a solid developer like Adani in place who would see us through.”
Dr. Abhaya Kumar (homeowner at Ten BKC) said, “All stakeholders have demonstrated transparency in their working through the IBC process. This has given us confidence that our homes will be delivered on time. Adani Realty is a trusted brand in real estate and always prioritizes customers’ best interests. The tower is ready and we expect the project to be delivered next year.”
Mr. Ashish Yakhmi (homeowner at Ten BKC) added, “Adani’s intent to develop & complete the project gave me peace of mind, knowing that my investment is safe. We greatly appreciate Adani Realty stepping in and starting construction immediately thereby helping us realize our dream of owning a home in Bandra.”
Spread across 5 acres, Ten BKC is one of the largest integrated residential complexes in the upscale neighborhood of Bandra. The project features 15 wings with apartments ranging from 2 BHK to 6 BHK triplexes, with configurations from 1,080 sq. ft to 6,068 sq. ft. The property will also include 2.9 acres of open spaces, 5-basement car parking, a sky gym, a 45,000 sq. ft luxury entrance lobby, a luxurious clubhouse with a 30-meter lap pool, a kids’ play area and much more.
Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.
5 Ways to Become a Better Public Speaker This Year
Opinions expressed by Entrepreneur contributors are their own.
The ability to speak publicly is a skill that everyone can use. From coaches to entrepreneurs and writers, anyone who wants to get out into the world to market what they do needs to be an effective speaker.
This article will discuss five ways to become a better public speaker — five methods for sharpening your raw talents to morph into a more effective communicator overall.
Related: This Is the One Thing You Need If You Want to Get Paid Speaking Gigs
1. Practice in different environments
This tip comes from an exercise that musicians sometimes use while practicing.
The idea is to see if you can replicate your performance no matter where you are. As a speaker, you will encounter all kinds of scenarios and audiences. You have surely had distractions around you, being in front of people with different interests, being under different lighting and noise conditions and more.
Practicing speaking in different environments will force you to get comfortable performing under all circumstances. Without the crutch of your favorite environment, you have to remember your lines and recall cues completely on your own.
Related: 4 Expert-Backed Strategies for Improving Your Communication Skills
2. Produce different kinds of ‘speaking’ content
Another tip for becoming a more well-rounded speaker is to produce a variety of speaking content. Speakers don’t always have to stand on a stage and talk to live audiences.
I create speaking content across many channels — from my website and blog to YouTube and my podcast series. I distribute audio and video recordings of my speeches to my clients and promote them on my social channels. I go live on Facebook and other platforms to speak directly to my audiences that way. You can do the same.
This variety isn’t by accident. Producing these different types of content in the digital space allows individuals to sharpen their speaking skills and reach larger audiences than they could in person.
3. Get active on audio platforms
Here’s a speaking tip that doesn’t involve performing as much as learning from what others are already doing: Get active on professional audio platforms such as Clubhouse and Twitter Spaces to meet with like-minded individuals and discuss relevant topics.
Doing this lets you compare notes with industry counterparts while working on your speaking skills. You will endeavor to communicate with other business leaders and coaches from around the world and all different walks of life.
Related: The Role of Effective Communication in Entrepreneurial Success
4. Take every opportunity to speak
Speak to a group at every available opportunity. I used to wonder how I could speak to an audience when the professional invitations dried up for a bit, and the answer was local service groups.
Toastmasters International, Rotary International, Lions Clubs International and the Freemasons are all great examples of the types of organizations that not only perform good works for their local communities but also welcome speakers and presenters to deliver valuable information to their members.
I find chapters of these groups in many cities and towns that I visit. Having these groups near me allows me to cut down on my travel time and simply makes it more convenient to continue practicing speaking skills while also putting my abilities to good use for my community.
Not only will this help you with your skills at public speaking, but it’s a rewarding experience as well.
5. Work with a speaking coach
Finally, every speaker-in-training could benefit from working with a speaking coach or mentor. These professionals provide their clients with professional tips and feedback on everything from the words they’re using to how they’re delivering them to audiences.
Some speakers wonder why they can’t just rely on their friends and families to provide them with honest feedback, and there are some good reasons for not doing that. Family and friends are kind, but that’s exactly the problem. Speakers need the unrelenting honesty of professional coaches if they truly want to leave their bad habits behind and become stronger.
I hired a professional speaking coach to improve my skills, and I can attest that it pays dividends every single day in my career.
Related: Leading Speaking Coach Shares His Strategies To Get A Flood Of Clients From Webinars And Virtual Presentations
Communication is everything to professionals
Whether it’s in the world of business, non-profits or coaching, speaking effectively is vital to success. Communication means everything to professionals, and those who can’t tell others what they do and what they’re about can’t expect to get their visions too far off the ground.
I followed these five actionable tips for becoming a better speaker, and I came out on the other side as a communicator that I never even thought possible. You will do the same.
26% of U.S. Workers Would Rather Undergo a Root Canal Than Follow This Workplace Policy
Opinions expressed by Entrepreneur contributors are their own.
According to a recent survey conducted by job site Monster, more than one in four (26%) U.S. workers would rather undergo a root canal procedure than work in their offices five days a week. Additionally, nearly two in five (38%) workers said they would quit a job that required just one day onsite. These staggering statistics reveal a clear shift in workers’ attitudes towards the traditional office environment, and companies that fail to adapt to this change risk losing their most valuable asset: their employees.
As a highly experienced expert in the field of hybrid work, I talk with 5 to 10 leaders every week about how to make hybrid work serve their needs well. I ask them what their top concern is, and most say it’s hiring and retaining talented staff.
External surveys say the same thing, such as this recent survey by Vistage of the leaders of small and medium-sized businesses. It found that 60% of SME CEOs are planning to increase headcount in the year ahead, with only 7% planning on reducing headcount. According to Vistage Chief Research Officer Joe Galvin, this is a significant shift from the trend of big companies making headlines with layoffs, as small and medium business CEOs are reluctant to lay off their hard-won new employees. One key reason for this shift is the recognition that hiring challenges are impacting the ability of these businesses to operate at full capacity. With 61% of CEOs saying that hiring challenges are a major concern for their ability to operate effectively at full capacity.
Given this information, I confidently tell the leaders whom I advise that the future of work is in a flexible hybrid work model that allows for some full-time remote work. This model not only keeps workers happy and engaged, but it also has a positive impact on a company’s bottom line.
Related: You Should Let Your Team Decide Their Approach to Hybrid Work. A Behavioral Economist Explains Why and How You Should Do It.
Increased productivity and employee engagement
One of the most significant benefits of a flexible hybrid work model is increased productivity and employee engagement. Studies have shown that remote workers tend to work more efficiently and are less likely to experience burnout. A mid-size IT services company that I consulted for implemented a flexible working policy, and they saw a 20% increase in productivity among their remote workers.
Remote workers have the ability to create their own personalized work environment, which leads to an increase in productivity. They can work from a location that is most comfortable for them, whether that be their home, a coffee shop or a coworking space. This leads to a decrease in distractions and an increase in focus, resulting in a higher level of productivity.
Flexible working also has a positive impact on employee engagement. When employees have the ability to work in a way that suits them best, they are more likely to be engaged and motivated. This leads to a decrease in turnover, and an increase in employee loyalty and job satisfaction.
Access to a wider talent pool
A flexible hybrid work model also allows companies to tap into a wider talent pool. When companies are not limited by geographical location, they can attract and retain the best talent from all over the world. A large financial services company that I worked with had difficulty finding qualified candidates in their local area, but by implementing a flexible working policy, they were able to hire top talent from other parts of the country.
A flexible working policy also allows for a more diverse workforce, as it can attract candidates who may have previously been excluded due to geographical constraints. This diversity leads to new perspectives, ideas and innovation.
Cost savings on talent
Flexible working can also lead to significant cost savings for companies. A flexible hybrid work model reduces the need for office space, and it can also lead to a reduction in absenteeism and turnover. A retail company that I consulted for implemented a flexible working policy, and they saw a 30% reduction in absenteeism due to less workers taking sick days and a 20% reduction in turnover.
When employees have the ability to work from home, it leads to a reduction in absenteeism as they are less likely to be affected by things such as traffic, weather, or public transportation issues. This can also lead to a decrease in sick leave, and an increase in overall productivity.
Flexible working can also lead to a reduction in turnover, as employees are more likely to be satisfied and engaged in their work. This leads to a decrease in the cost of recruiting and training new employees.
Addressing cognitive biases
Cognitive biases can play a significant role in decision-making when it comes to flexible working. The status quo bias, for example, leads managers to resist change and stick to the traditional office environment. The sunk cost fallacy can also come into play, where managers may be reluctant to change the way things have always been done because they have invested so much time and resources into the current system. By being aware of these cognitive biases and actively working to overcome them, companies can make more informed and effective decisions about their working policies.
One way to overcome these biases is to gather data and conduct studies on the impact of flexible working on employee productivity, engagement, and turnover. This can provide concrete evidence to support the implementation of a flexible hybrid work model. Additionally, it is important for managers to actively seek out feedback from employees on their preferences for working arrangements and to consider their needs and concerns.
Implementing a flexible hybrid work model
Implementing a flexible hybrid work model can seem daunting, but with proper planning and communication, it can be done successfully. It is important to set clear guidelines and expectations for remote work, such as setting specific hours of availability and ensuring regular communication with team members.
It is also important to provide the necessary tools and resources for remote work, such as a reliable internet connection and a secure virtual communication platform. Providing training on hybrid work best practices and technology can also help to ensure a smooth transition, as can hiring a hybrid work consultant to guide your transition.
Related: Salesforce CEO Marc Benioff Is Right. New Employees Are Less Productive in a Hybrid Work Setting — But Why?
The shift in workers’ attitudes toward the traditional office environment is undeniable. Companies that fail to adapt to this change risk losing their most valuable asset: their employees. A flexible hybrid work model that allows for some full-time remote work is the future for anyone who cares about worker retention, increased productivity, access to a wider talent pool, cost savings, and overcoming cognitive biases. The time for companies to implement this model is now. As a leader of a company, it’s important to recognize that the traditional office model may no longer be the best option for your employees or your business. By embracing a flexible hybrid work model, you can retain top talent, increase productivity and save costs. The future of work is here, and companies that adapt will be well-positioned for success.
Google Worker Laid Off While On Leave Caring For Sick Mom
One person who was laid off from Google in the company’s wave of staff cuts last week says he was on a leave from work taking care of his mother who is terminally ill with cancer.
Paul Baker was on leave for about a month when he received an email letting him know the company was laying him off, along with around 12,000 others, he told Insider.
“While on carer’s leave for my immediate family member’s terminal cancer, I too was laid off. After the initial shock, it morphed into sadness because I miss the people,” he also wrote on LinkedIn.
Related: More Than 1,600 Tech Workers Are Being Laid Off A Day On Average In 2023, According to a New Report
On Jan. 20, Google’s CEO Sundar Pichai sent a note to employees taking responsibility for hiring “for a different economic reality than the one we face today.”
Baker told Insider that he was on leave and was told by a friend about the layoffs, then found his work laptop had been “cut off,” the outlet wrote.
He was a video producer at Google, according to his LinkedIn, and had been at the company since 2018. Baker told Insider he was feeling “shock and sadness.” The outlet said it verified the leave period as well as his severance email and prior employment with Google.
Related: In a Viral TikTok, An Ex-YouTube Employee Talks About Getting Laid Off During a Business Trip
“I’ll truly miss it,” he said.
Baker also told the outlet he has not received information about how his severance package would be affected by the fact that he was on career leave to care for his mom.
Pichai said in the memo the company will provide “six months of healthcare, job placement services and immigration support for those affected.”
Still, he told Insider he would love to go back to the company.
“If there’s ever a Google position open for another video producer position, I would take it in a heartbeat,” he said.
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