How Managed Properties Achieve 25–30% Higher Prices and Rentals

According to global real estate research, professionally managed properties can command 25–30% higher sale prices and rental rates than comparable unmanaged properties. This trend holds true across residential and commercial sectors, reflecting a premium that investors and homeowners cannot ignore.

Managed properties – whether luxury serviced apartments, branded residences, or serviced office spaces – are emerging as high-performance assets in the property market. They marry real estate with quality service and amenities, leading to enhanced value. In this blog, we will explore how management boosts property values, with a focus on trends in Goa and India and a broader look at international markets. We will cite real data, research findings, and case studies to illustrate why managed properties often outperform traditional ones in both pricing and rental yields.

The Concept of Managed Properties

In real estate, managed properties refer to assets that come with professional management or branded services as part of their offering. This concept spans both residential and commercial property types:

• Residential Managed Properties: These include branded residences (luxury homes co-branded and operated by hotel or lifestyle brands), serviced apartments and vacation villas managed by hospitality firms, as well as modern co-living spaces run by professional operators. Residents or tenants in these properties enjoy hotel-like amenities – think concierge, housekeeping, maintained common areas, and security – integrated into their homes. The property’s brand or management team ensures consistency in service and upkeep, differentiating it from a typical standalone home or apartment. Importantly, even individual homeowners can turn their property into a “managed” one by outsourcing to professional property management companies that handle everything from tenant search to maintenance.
  
• Commercial Managed Properties: In the commercial sector, examples include serviced offices and co-working spaces where a specialist operator outfits and runs the office space, offering turnkey solutions to tenants. Traditional office landlords might partner with co-working brands to manage entire floors, providing furnished offices, IT infrastructure, and flexible lease terms to occupiers. Similarly, retail properties like malls are professionally managed to enhance customer experience. The core idea is that the space isn’t just four walls – it comes with services (reception, facility management, etc.) and is maintained to a high standard by an expert team.

In essence, a managed property is one where the owner entrusts operations to professionals, or the property is part of a larger managed portfolio or brand. This arrangement can apply to a holiday villa in Goa being run by a rental management firm, or a high-rise in Mumbai branded and serviced by a five-star hotel chain. The concept has gained popularity as both investors and end-users are willing to pay a bit extra for hassle-free ownership and superior user experience.

How Management Impacts Property Value and Rentals

Professional management can significantly increase a property’s market value and rental income potential. There are several key ways in which management adds this value:

• Premium Amenities and Services: Managed properties often provide facilities that ordinary properties do not – such as concierge services, housekeeping, fitness centers, or 24/7 security. These amenities make the living or working experience more luxurious and convenient. Buyers and tenants are willing to pay more for this convenience. For example, Knight Frank data from New York shows buyers are willing to pay approximately 20–30% premium for homes that offer fully integrated five-star services on-site​knightfrank.com. In other words, a well-serviced building can see its apartments sell for a third higher than similar units lacking such services.
  
• Brand Trust and Marketing Reach: A recognized management brand (like a famous hotel or co-working brand) instills confidence in the quality and consistency of the property. This brand effect can dramatically lift prices. Globally, branded residences – homes branded by hospitality companies – typically sell at 25–35% higher prices compared to non-branded equivalents​ (content.knightfrank.com). In fact, one survey found 39% of high-net-worth buyers worldwide would pay a premium for a branded residence ​(content.knightfrank.com). The branding and professional upkeep not only justify higher pricing but also attract a wider pool of affluent buyers and tenants, often international, who might not consider an unbranded property.
  
• Better Maintenance and Condition: With professional management, properties are proactively maintained, which preserves and enhances their condition over time. Repairs are not deferred, landscaping is kept pristine, and interiors remain up to date. This upkeep means that when it’s time to sell, the property commands top dollar. A managed property avoids the “wear and tear” discount that poorly maintained homes suffer. Essentially, the depreciation is lower, and in many cases, the upgrades by management (new facilities, modern decor, etc.) can appreciate the asset’s value.
  
• Higher Occupancy and Rental Optimisation: For rental properties, having professional management typically leads to higher occupancy rates and optimized rental strategies. Managers use dynamic pricing (in the case of holiday rentals), broad marketing channels, and tenant vetting to minimize vacant periods. More occupied days at good rates directly translate to higher annual rental income. Worldwide trends with short-term rentals illustrate this well – landlords using platforms like Airbnb with active property managers can earn significantly more (often cited around 20–30% higher annually) than they would with a traditional year-long lease (​knightfrank.com​content.knightfrank.com). The ability to tap into tourism or short-stay demand boosts yields. Even for long-term rentals, a property manager ensures any vacancy is promptly filled and negotiates competitive rents, improving the owner’s yield.
  
• Enhanced Tenant/Occupier Satisfaction: Satisfied tenants are more likely to stay longer and pay premium rents. In a managed residential building, residents value the quick service (for any issue, there’s a helpline or on-site staff). In managed offices, companies value the flexibility and plug-and-play convenience. This satisfaction reduces tenant turnover costs for the owner and supports steady or rising rents. Commercial landlords have observed that offering a fully managed office floor (with furniture, IT, coffee machines, etc.) allows them to charge a higher rate per sq ft than a bare shell office – because companies are effectively paying for the convenience and saving on upfront capex.

The cumulative effect of these factors is that managed properties unlock greater value. Research by Knight Frank finds that across global cities, buyers often pay a hefty premium for branded and serviced residences, and in some extreme cases in Asia that premium has been over 100% (double the price) for top-notch managed properties​(content.knightfrank.com). On the rental side, industry reports (e.g., JLL, CBRE) have noted that professionally managed rental housing often achieves yield uplift compared to privately managed units. The bottom line for investors and homeowners is clear: investing in professional management can be a value-boosting strategy, turning properties into higher-performing assets.

Trends in Goa: A Hotspot for Managed Properties

Goa’s property market provides a vivid example of the managed property premium, especially in the post-pandemic era. Long known as a leisure destination, Goa has recently seen an influx of professionals and digital nomads seeking to “work-from-paradise”, alongside steady tourist demand for vacation rentals​edcongoa.com. These trends have transformed Goa into a year-round real estate hotspot, and managed properties are at the center of this boom.

Higher Rental Yields: Perhaps the most striking change in Goa is the surge in rental yields for those homeowners who rent out their villas or apartments. Traditionally, a second home in Goa might have fetched only modest rental returns (a few percent annually) if rented long-term. Now, thanks to short-term vacation rentals and professional management, many properties generate annual rental yields up to 8%​edcongoa.com.

This is a significant jump from prior averages (which were often in the 2–4% range), essentially doubling the returns for investors. As one local developer noted, demand for high-end villas with pools and sea views has pushed rental returns to 7–8%, with remote workers and tourists alike willing to pay premium rates for comfort and exclusivity (​edcongoa.com). In peak season, a well-located villa can earn in a week what a normal rental might earn in a month, illustrating the advantage of the short-stay market.

Professional Asset Management: A few years ago, an owner of a Goan villa might have left it vacant most of the year or handled rentals informally. Today, there’s a growing presence of asset management firms and hospitality operators managing individual homes on behalf of owners (​realtynmore.com). Companies offer end-to-end services: they market the property on Airbnb and other platforms, manage guest check-ins, housekeeping, and maintenance, and ensure the property stays in top condition.

Savills India observes that this trend has expanded the buyer profile in Goa – it’s not just retiree end-users anymore, but also retail investors from cities like Mumbai and Delhi who purchase Goa homes specifically for rental income and capital appreciation​realtynmore.com. In other words, Goa’s second-home market is maturing into an institutional-style rental market, where owners treat homes as investments operated by professionals.

Rising Prices & New Developments: The popularity of managed vacation properties has also buoyed property prices in Goa. Desirable locations (North Goa locales such as Anjuna, Assagao, Vagator, and Candolim) have seen price appreciation fueled by their rental potential (​edcongoa.com). For instance, a gated community villa with on-call maintenance and a rental management tie-up might sell at a notable premium to a similar standalone villa with no such arrangements. Developers have caught on to the trend: several reputed builders (e.g., Isprava, Vianaar Homes, etc.) focus on delivering fully furnished, service-ready villas​ (realtynmore.com).

These are often sold with an option for the developer’s hospitality arm to lease and manage the villa when the owner is not in residence. Such models assure buyers of some rental return and professional upkeep. The result is that new inventory in Goa increasingly falls under the “managed” category by design, and these units boast higher asking prices than older, unmanaged stock.

Case in point, Savills India reported that Goa has become a top choice for second-home buyers due to rental yields of approximately 5–8% in the market​ (realtynmore.com). This yield is substantially above the typical yields in major Indian cities. It underscores how Goa’s appeal, combined with proper management (often by tying up with hospitality), creates an investment proposition where owners can enjoy their holiday home and earn income when they’re away. Moreover, vacation rentals in popular micro-markets provide steady income and competitive ROI for investors, with private villas being especially in demand for family groups​(realtynmore.com).

In summary, Goa’s experience shows a virtuous cycle: strong demand (tourism + remote work) meets professional management, leading to higher returns, which in turn attracts more investors into the market. This has elevated both rental rates and capital values for managed properties in Goa, making it a standout region in India for this trend.

Indian Market Overview: Managed Property Benefits

Beyond Goa, the broader Indian real estate market is also witnessing the benefits of managed properties in both residential and commercial domains. While India’s rental yields in regular residential markets have historically been low (often only 2–3% in cities like Mumbai or Delhi), new formats and professional management are starting to change the equation.

Residential Branded Residences: In the luxury segment, India has seen the introduction of branded residences in cities such as Mumbai, Delhi NCR, and Bengaluru. These are ultra-premium homes with ties to luxury hotel brands or reputed management companies. Buyers of such properties get access to concierge services, club facilities, and the prestige of a global name. Although a relatively new phenomenon in India, the concept is gaining traction among high-net-worth individuals. Global data suggests that these branded homes come at a 20–30% price premium due to their service offerings (​knightfrank.com), and we see this in India as well – for example, branded apartments by international chains often set price per square foot records in their micro-markets. Indian UHNWIs (ultra high-net-worth individuals) have shown willingness to pay more for superior managed properties, and interestingly, many are also monetizing them: 32% of Indian ultra-wealthy homebuyers rented out their second homes in 2021 (​realty.economictimes.indiatimes.com), reflecting an openness to using professional rental management to generate income from luxury assets that would previously lie idle.

Co-living and Rental Housing: At the mid-market level, the rise of co-living spaces and professionally managed rental housing is notable in urban India. Startups and operators (like Stanza Living, Colive, and others) provide shared living accommodations targeted at students and young professionals. These come furnished, with cleaning, Wi-Fi, and bills included – essentially a managed service model for ordinary apartments. While co-living beds are rented at higher nominal rates than traditional flat-sharing, they offer convenience and community, which users value. The all-inclusive rents mean less hassle for tenants, and operators ensure properties are well-maintained. For property owners, turning their apartment over to a co-living operator can mean steady occupancy and slightly higher net yields (after the operator’s cut) than they might achieve on their own. This is because the operator can charge a premium for the bundled services and fill vacancies through their platform quickly. In India’s top tech cities (Bengaluru, Pune, Gurgaon, etc.), co-living has grown rapidly in the last 5 years, with thousands of beds now under management. This has attracted institutional interest – for instance, some private equity funds have invested in co-living startups, anticipating that the managed rental model will unlock value in India’s large rental market that was traditionally very unorganized.

Managed Office Spaces (Flexible Workspaces): On the commercial front, India has become one of the leading markets for flexible office space growth. Major co-working and serviced office operators (WeWork, Awfis, SmartWorks, etc.) have expanded across Mumbai, Bengaluru, Delhi NCR, and other cities. The appeal to businesses is clear: plug-and-play offices, shorter lease commitments, and access to shared amenities (lounges, meeting rooms, cafeterias) which would be costly to set up individually. For building owners and investors, leasing space to a credible flex-space operator or running their own managed office brand can lead to higher overall rentals collected. Although the operator takes a margin, the space is utilized more intensively (many small tenants versus one large tenant), and vacancy is managed by the operator. A recent Knight Frank India report highlighted that flexible office operators have cumulatively leased about 52.9 million square feet from 2017 to mid-2024, growing this segment at a remarkable 22% CAGR​(economictimes.indiatimes.com).

This reflects how quickly Indian landlords have embraced the managed office model. Moreover, the sector attracted around USD 820 million in private equity funding since 2017 to support its growth​economictimes.indiatimes.com – a testament to the belief that managed office spaces are the future. In prime markets like Bengaluru’s ORR or Mumbai’s BKC, as much as 15–20% of new office space absorption in recent years has been by flexible space providers, indicating mainstream acceptance.

Benefits to Investors: For real estate investors in India – whether considering a residential rental property or an office investment – the message is that partnering with a professional operator can unlock superior returns. Managed properties typically enjoy lower vacancy, higher tenant retention, and the ability to charge a service premium. They also appeal to a new class of tenants: for instance, expatriates or corporate clients often prefer renting in professionally managed residential communities (for reliability and service), even at higher rents. This widens the demand base for such properties. As India’s economy grows and its real estate market professionalizes, we anticipate managed property models (be it serviced apartments, student housing, senior living communities, or managed offices) will become even more prevalent. The success of early examples – e.g., tech parks launching their own serviced office floors, or developers tying up with hospitality brands for residences – is encouraging more players to follow suit.

International Perspective: Lessons from Global Markets

Globally, the trend of managed properties delivering higher value is well established. Many mature real estate markets offer instructive examples and data on how professional management and branding translate into price and rental outperformance.

Branded and Serviced Residences Worldwide: Internationally, the branded residence sector has exploded in the past two decades. There are now over 400 branded residence schemes across more than 60 countries​content.knightfrank.com, run by brands ranging from Ritz-Carlton and Four Seasons to fashion labels like Armani. These properties consistently achieve premiums in value. As noted earlier, the typical premium globally is on the order of 25–35% above comparable non-branded units​ (content.knightfrank.com). This is not just a statistic – it’s observed on the ground. For example, in Dubai (which has one of the largest concentrations of branded residences), a branded beachfront apartment can sell for significantly more per square foot than a nearby non-branded luxury apartment of similar size. Buyers are effectively paying for the guarantee of quality and service. Even in cities like London and New York, developers have leaned into this model for high-end projects: the Four Seasons Private Residences in London, the Mandarin Oriental Residences in Manhattan, etc., all target wealthy buyers who want a hassle-free, service-rich lifestyle.

The lesson from these global markets is that the luxury consumer values time and convenience, and is ready to reward properties that provide it. The resilience of this segment was evident even during the pandemic – properties offering wellness, security, and service saw sustained interest. International investors have also been known to favor branded properties in unfamiliar markets as a “safe bet,” thereby boosting demand for those managed assets.

Short-Term Rentals and Vacation Markets: Around the world, the rise of platforms like Airbnb and Booking.com has shown landlords that operating a property like a mini-hotel can yield higher returns than traditional renting. In cities from Paris to Los Angeles, many apartments shifted from long-term leases to short-term rentals to capture nightly rates. Studies in some western markets indicated landlords could make 20–30% more income through short-term rental strategies versus year-long tenants (especially if previous rents were regulated)​
knightfrank.com.

This comes with more management effort – which is why a new industry of vacation rental management companies emerged globally. These firms handle bookings, cleaning, and guest communication for owners, essentially turning an ordinary home into a managed hospitality asset. Tourist-heavy markets like Bali, Ibiza, or Phuket have villa management agencies that allow international owners to earn hotel-like incomes from their homes. The key takeaway internationally is that where tourism or corporate travel is strong, managed rental properties significantly outperform in income. Even large hospitality companies have entered this space (e.g., Marriott’s Homes & Villas division) seeing the opportunity to professionalize vacation rentals. For investors, it means that in global hot spots, buying a property and putting it under professional holiday-rental management can be far more lucrative than a standard buy-to-let approach.

Commercial Real Estate – Flex Space Revolution: International lessons are equally profound on the commercial side. The concept of flexible workspaces started in the West and has spread worldwide. In cities like London, New York, and Singapore, a considerable share of office space is now operated by flex-space providers. The WeWork phenomenon, despite its ups and downs, proved the demand for flexible, managed offices. Many traditional landlords globally responded by creating their own flexible space offerings or by leasing to operators. JLL, a global property consultancy, has projected that a significant portion of office stock (possibly 30% or more in some markets) could be flexible or managed by the end of this decade – a radical shift from the conventional leasing model. The benefit for occupiers (tenants) is agility and lower upfront costs; the benefit for owners is that, if done right, they can achieve higher effective rents and keep their buildings filled. One global example: in central London, the average desk in a co-working space might rent for, say, £600 a month. If you convert that to per square foot, it often exceeds what a single corporate tenant would have paid for the same floor – meaning the operator model can generate more revenue per square foot (albeit with higher management costs). Landlords partner with these operators to get a share of that upside. The lesson here is that flexibility and service have become a valued commodity in commercial real estate worldwide, and building owners who incorporate that into their properties are reaping the benefits.

Cross-learning and Maturity: A general lesson from global markets is that as a real estate market matures, the role of professional property management and specialization grows. In the United States, for instance, large institutional investors own thousands of single-family homes for rent, all managed by dedicated property management firms using technology to maximize rent and minimize vacancy. This institutional approach yields consistent 5–7% returns in a sector that was once purely “mom-and-pop” managed with lower yields due to inefficiencies. In Europe, the build-to-rent (BTR) sector has taken off – companies build entire residential buildings to rent, with on-site management for tenants (repairs, community events, etc.), resulting in satisfied tenants and stable long-term income streams for investors. These global developments underscore that managed properties align the real estate product with modern lifestyle and business needs – whether it’s busy professionals wanting hotel services at home, or agile startups needing ready-to-use offices, or travelers seeking a homey alternative to hotels. The international experience provides confidence that the trends we observe in Goa and India are part of a wider structural shift in real estate towards service-enhanced offerings.

Case Studies and Real Examples

To illustrate the impact of management on property performance, let’s look at a few concrete examples and case studies from different contexts:

• Goa Luxury Villa, Managed vs. Unmanaged: Consider two similar villas in North Goa, both valued around ₹5 crore. Villa A is in a gated community and is managed by a hospitality firm that markets it as a luxury vacation rental; Villa B is owned and used only by the family, occasionally lent to friends. Villa A, with its private pool and concierge on call, is rented to vacationers throughout the year. It enjoys ~70% occupancy annually at high nightly rates, yielding the owner around ₹30–40 lakh per year in rental income (a ~6–8% yield). Villa B, with no rental activity, obviously generates 0% yield and actually incurs maintenance costs. Even if Villa B’s owners tried to rent it themselves, they might struggle with finding guests and caretaking. This example mirrors many real cases in Goa where managed villas generate sizable cash flows. Not surprisingly, if both villas were put on the market for sale, Villa A would likely attract higher bids thanks to its proven rental business. Investors are effectively pricing in the 25–30% higher rental income it produces. As Savills research noted, Goa’s managed holiday homes yield about 5–8% and have become magnets for investment​ (realtynmore.com )– a trend that clearly sets them apart from un-managed second homes.
  
• Branded City Apartments vs. Standard Apartments: In Mumbai, a city known for its luxury high-rises, branded residences have made a debut. Let’s take an example (hypothetical numbers for illustration): The Ritz-Carlton Residences, Mumbai vs a non-branded luxury tower next door. Both offer high-end apartments, but the former comes with the Ritz-Carlton branding, hotel-like lobby, concierge, and an optional rental management program for absentee owners. Units in the branded tower might sell for ₹40,000 per sq. ft., whereas the non-branded next door might be around ₹30,000 per sq. ft. This is roughly a 33% price premium attributable to the brand and services. Knight Frank’s global data found such premiums to typically fall in the 25–35% range (​content.knightfrank.com), which aligns with this scenario. A real-world extreme case was observed in an Asian city (per Knight Frank) where a branded residence sold at 132% higher price than a comparable unbranded property in the same area​(content.knightfrank.com). The brand’s promise of a certain lifestyle and the prospect of hassle-free ownership drove that difference. For rentals, the branded Mumbai tower could also command higher corporate rents, or if owners choose, the operator might rent out units on short stays to visiting executives, generating superior yields. Meanwhile, the standard building relies on individual owners to find tenants, and typically at lower rents due to competition. This case study underscores how branding + management can significantly uplift both capital and rental performance of city properties.
  
• Flexible Office Conversion in a Metro: Imagine a commercial building in Bengaluru with 5 floors of 10,000 sq. ft. each. Landlord X leases 3 floors traditionally to single corporate tenants at ₹100 per sq. ft. per month. The remaining 2 floors, Landlord X decides to partner with a co-working operator who fits out and manages those floors as a flexible workspace. The co-working operator pays the landlord a revenue share that effectively equates to ₹120 per sq. ft. per month (because the operator, by selling hundreds of desks and meeting rooms, can generate perhaps ₹180 per sq. ft. and share part of that). This is a 20% higher rent than the traditional leases. Moreover, the co-working floors maintain high occupancy through various clients even if one client downsizes. Over 5 years, Landlord X finds the co-working floors yielded more income and were always occupied, whereas one of the traditional tenants gave up a floor during a downturn, leading to a year of vacancy. This real example mirrors what has been happening in many cities. Data from Knight Frank India showed 52.9 million sq ft of space has been taken up by flex-space operators in just the last few years (​economictimes.indiatimes.com), indicating many landlords are embracing this model. The case highlights that by adopting a managed space model (in this case for offices), owners can increase their rental income stability and even the absolute rent levels, compared to sticking solely to traditional leases.

Each of the above cases – a vacation villa in Goa, a branded residence in a city, a flexible office floor – demonstrates the core theme: managed properties outperform. They either earn more rent, sell for more, or both. The examples also show that this is a versatile concept, spanning geographies and asset types. Investors who have recognized these dynamics have been able to achieve better returns, while occupants (be it tenants or owners using the property) have benefited from the enhanced lifestyle or workspace. It becomes a win-win facilitated by the presence of a professional manager or brand.

Conclusion

The rise of managed properties marks a significant evolution in the real estate landscape. For investors and homeowners alike, the evidence is compelling that professionally managed real estate assets – whether a chic beachfront villa or a downtown office suite – can deliver substantially higher value. We have seen that managed properties often achieve 25–30% higher prices and rentals on average, backed by data from reputable real estate research​ (content.knightfrank.com​knightfrank.com). This uplift is driven by the tangible and intangible benefits management brings: better services, brand prestige, diligent maintenance, and optimised use of the asset.

In markets like Goa, managed vacation homes have unlocked new income streams and turned second homes into serious investments, reshaping the local property scene. Across India, from branded residences catering to the elite to co-living spaces for young professionals and flexible offices for companies, the managed model is adding value and gaining momentum. The international context reinforces these findings – around the world, service and experience have become central to real estate, and properties that provide them are rewarded in pricing and demand.

For homeowners, the takeaway is that partnering with a reliable property manager or opting for a managed development can significantly enhance your property’s appeal and financial returns. It can make the difference between a house that simply incurs costs and one that pays for itself. For investors, managed properties offer a path to higher yield and asset appreciation, often with the peace of mind that professionals are handling day-to-day operations. They represent a blending of real estate and hospitality/technology, which is where the future of property seems to be headed.

As we move forward, we can expect the managed property trend to continue growing. The changing lifestyles (work-from-home, global travel, etc.) and higher expectations of consumers mean that real estate is no longer just about location and construction – it’s about delivering an experience. Developers and real estate firms are increasingly incorporating management and services into their offerings from the outset. In time, the distinction between a “managed” and “non-managed” property may blur, as baseline expectations rise. Until then, those who recognize the current premium enjoyed by managed properties can leverage this insight for investment advantage or improved living. In summary, managed properties exemplify how adding the right management and services to real estate not only enhances lives but also boosts the bottom line – by double digits, as the numbers show.

Comparison: Managed vs Non-Managed Property Performance

To put the difference in perspective, the table below compares typical prices and rental yields of managed properties against their conventional counterparts, in Goa, the broader Indian market, and globally:

Note: The above figures are indicative to illustrate trends. Actual numbers vary by location and property. Managed properties tend to command a significant price premium (often 20–30% or more) and can achieve higher rental yields due to better income streams. Sources: Knight Frank Research​ (content.knightfrank.com​knightfrank.com), Savills (Goa market) ​realtynmore.com, industry reports and market observations.

Growth in Managed Property Sector (Last 5 Years)

The managed property sector has seen robust growth recently, as shown by a few key indicators over the past five years:

These trends underscore that managed property formats have moved from niche to mainstream. In Goa, what was a small second-home rental market became a thriving investment category by 2023. In India’s offices, flexible workspace went from an experiment to a core part of leasing activity. Globally, the count of branded/service-integrated properties continues to rise as developers and investors capitalize on the premium commanded. This growth trajectory is likely to continue as market preferences increasingly favor convenience and professionally managed real estate solutions.

Sources: Knight Frank Research, Savills India, Economic Times (Knight Frank flexible office report)​economictimes.indiatimes.com, industry publications.