Good morning, Bengaluru!
☁️ Today’s weather: High: 29 ℃ | Low: 20 ℃ | Partly cloudy sky.
🧐 Did you know? The initial capital for Biocon in 1978 was ₹10,000.
🚇 Hebbal-Sarjapur line greenlighted
BMRCL’s proposed Hebbal-Sarjapur metro line under Phase 3A has received approval from the state’s Finance Department.
What’s it about? The 36.59 km route will connect northern and southern Bengaluru, passing through the city centre. This new line will include 28 stations, with 17 elevated and 11 underground, and feature four critical interchange points.
- The interchange points will be Iblur (Outer Ring Road, Blue Line), Dairy Circle (Pink Line), KR Circle (Purple Line), and Hebbal (connecting Blue and Orange Lines).
- Estimated at ₹28,405 crore, the project secured Finance Department approval shortly after administrative consent from the Urban Development Department.
What’s next: The next step involves presenting the Detailed Project Report (DPR) to the state cabinet for approval, followed by a final review by Deputy Chief Minister DK Shivakumar.
🚗 Stellantis expands
Stellantis has inaugurated an expanded lab and office in the city, enhancing its capabilities in automotive technology.
What’s it about? The lab will focus on developing software-defined vehicles and cutting-edge automotive technologies, particularly in high-performance computing, digital cockpits, advanced driver-assistance systems (ADAS), and telematics.
- Led by Stellantis’ Chief Software Officer Yves Bonnefont, the facility increases seating by 50% to boost collaboration and efficiency among its teams.
- A key aim of the expansion is to streamline vehicle systems by reducing CPU use, which enhances vehicle performance and efficiency.
Pitch perfect: The lab will also concentrate on audio engineering and acoustic performance, supporting improvements in audio tuning, noise management, active sound design, and telephony for an enhanced in-cabin auditory experience.
🏢 Office space absorption increases
Office space absorption across India’s top six cities surged by 30% year-on-year to 55.1 million square feet from January to September 2024, with Bengaluru leading the charge.
What’s it about? Bengaluru, Delhi-NCR, Mumbai, Hyderabad, Chennai, and Pune are projected to collectively surpass 70 million square feet of office demand by the end of the year, setting a record in the Indian office market.
- In Q3 2024 alone, office absorption reached 20.2 million square feet, marking a 28% increase over the same period in 2023.
- Bengaluru, Delhi-NCR, and Mumbai were the top contributors, accounting for 66% of total leasing activity.
Bengaluru’s trajectory: Bengaluru led the market with 15.9 million square feet absorbed so far in 2024, a 49% increase from the previous year, with the city anticipated to reach 20 million square feet by year-end.
💰 Mitsubishi invests
Climaveneta Climate Technologies (CCT), a subsidiary of Mitsubishi Electric, is making a ₹400 crore investment in a new manufacturing plant in Narsapura.
What’s it about? The plant, set to open imminently, will focus on producing a range of high-end HVAC (Heating, Ventilation, and Air Conditioning) equipment, including screw chillers, magnetic levitation technology chillers, scroll chillers, and heat pumps.
- The facility aims to cater to significant clients across India, including luxury hotel chains, healthcare facilities, shopping malls, multiplexes, and major corporate developments.
- The investment is part of CCT’s plan to expand its capacity and grow its workforce, which currently stands at 300 employees.
Other plans: This project aligns with Mitsubishi Electric’s broader strategic entry into India’s automotive and retail market through a partnership with TVS Mobility. Mitsubishi is set to acquire a 30% stake in TVS Mobility’s car sales business, enabling it to participate directly in India’s car market.
✨ Things to do…
Here are some fun and interesting things to do in the city over the weekend!
- Zakir Khan is in the town sharing stories of his carelessness and the situations it lands him into.
- Experience Prateek Kuhad’s soulful voice and heartfelt lyrics live at his Silhouettes Tour.
- Be mesmerised, because P.C. Sorcar’s magic show is back in town after a full five years.
- Illuminate the night at BIG DADDY KORAMANGALA’s Bollywood night.
- Pick up on playing the ukulele on Arijit Singh songs.
🛋️ Local Lounge
Yesterday’s Poll Results:
- The metro fare hike is reasonable: 33.3%
- The metro fare hike is not reasonable: 66.7% 🏆
That’s it for today. Have a great weekend!