Student housing startup Your-Space opens 7 properties with 1,000 beds; to clock Rs 20cr revenue in FY’19
New Delhi: Startup Your-Space, which is into student housing segment, has started 7 new facilities comprising 1,000 beds to cater to the rising demand for accommodation around colleges and will achieve four-fold jump in revenue to Rs 20 crore during 2018-19. launched in 2016, Your-Space has so far raised USD 1 million fund from angel investor and HNIs. The company, co-founded by Shubha lal, Karan Kaushish and Nidhi Kumra, has now 11 facilities with around 1,200 beds. In its recent report, property consultant Jll India said the demand for student housing is expected to see a rapid growth in India. It also advised real estate firms to tap this opportunity to beat current slowdown in the residential market.“With start of new academic session, we have launched 7 co-living facilities across Delhi NCR, Mumbai, Chandigarh, Jalandhar, and Pune with a capacity of around 1,000 beds,” said lal, one of the founders. The company charges anywhere between Rs 10,000-30,000 per bed per month depending on the location, she said, adding this price does not include electricity bill. With the launch of 7 new properties, lal said the company’s revenue would increase to about Rs 20 crore in 2018-19 from Rs 5 crore in the previous year. “We always open new properties at the beginning of academic session. We are in talks with property owners across various cities including Jaipur, Bangaluru, Indore and Kota to open more facilities next year,” she said. On further fund raising, lal said the company would require funds next year for further expansion.
Sebi slaps Rs 17l fine on 6 persons for fraudulent trading activity in shares of linkhouse industries
New Delhi: Markets regulator Sebi today slapped a total fine of Rs 17 lakh on six individuals for indulging in fraudulent trading in the shares of linkhouse Industries. The regulator had conducted a probe into trading of shares of linkhouse Industries for the period from June 2004 to December 2008 in three phases. The probe found that the individuals are connected to each other and have accounted for creation of artificial volume in the scrip of linkhouse by the way of synchronised trades and reversal trades, Sebi said in an order. Moreover among the six individuals, five executed self trades with manipulative intent to create artificial volume in the shares, added Securities Exchange and Board of India(Sebi). By indulging in such activities, the individuals had violated the regulations of PFTUP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, the regulator noted. Sebi imposed a fine of Rs 3 lakh each on Hemant Madhusudan Sheth, Bhavesh Prakash Pabari, Ankit Rajendra Sanchaniya, Prem Mohanlal Parikh, Mala Hemant Sheth, and 2 lakh fine on Bharat Shantilal Thakkar.
Milk production up 6.6 pc at 176.35 million tonne in 2017-18
New Delhi: India’s milk production is estimated to have increased by 6.6 per cent to 176.35 million tonnes during the last financial year. “Milk production in the country is 165.4 million tonnes during 2016-17 and 176.35 million tonnes (provisional) during 2017-18,” Minister of State for Agriculture Krishna Raj has said in a written reply to the lok Sabha. She also informed that the projected milk production by 2021-22 is 254.5 million tonnes as per the vision 2022 document. India is the largest milk producer in the world.