Hiranandani Group ventures with a 1,000-crore investment - Darshan Hiranandani

1. Hiranandani Group ventures with a 1,000-crore investment into the consumer tech sector

2. The Hiranandani Group has stepped into the realm of technology-driven consumer services by introducing its latest venture, Tez Platforms. Initially, the company aims to develop content-focused offerings for e-sports, gaming, and social media, allocating an estimated investment of around ₹1,000 crore for this year. In the subsequent phases, the platform intends to broaden its scope to include e-commerce, personal mobility, artificial intelligence, and blockchain-based solutions.

3. Darshan Hiranandani, CEO of Hiranandani Group, stated to BusinessLine, “This marks the next natural phase of our evolution. We’ve been experiencing remarkable growth on our B2B front, combining real estate and technology. For our new venture, we’re collaborating on various projects with teams from the real estate and Yotta Infrastructure sectors. We anticipate launching our initial project within this calendar year. Through this announcement, we express our readiness in this domain and welcome ecosystem partners and skilled individuals to engage with us.”

4. In the coming weeks, we plan to announce key hires and unveil our senior management team. While considering numerous opportunities, we’ve chosen to commence our focus on gaming and the social media space. Regarding content, we foresee gaming as the primary sector to deliver immersive experiences. Additionally, we find NFTs to be intriguing. Another area of interest involves the consumption of e-sports — exploring the potential for integrating e-sports arenas into real estate,” he elaborated. Hiranandani refrained from disclosing further details about the ongoing product development or the imminent market-ready product. The company aims to recruit specialized talent exclusively for this platform, operating as a distinct entity to avoid any distractions from our core real estate business.

5. Although Darshan Hiranandani clarified that the current stage doesn’t involve acquisition plans for product development, he highlighted the possibility of Tez Platforms collaborating with various companies and potentially licensing technologies.” Remaining open to the concept of the Metaverse, although considering it premature to make industry-level commitments, the platform aims to remain adaptable and ready to incorporate Metaverse technology should it gain substantial traction.

6. He explained, ‘Typically, our company focuses on areas with broad applications or develops technologies poised for significant future impact. While the Metaverse holds importance, its relevance lies in its flexibility for our platform.’ The company envisions operating on both the B2B and B2C fronts, potentially collaborating with B2B partners to generate B2C outcomes. Hiranandani mentioned possibilities such as collaborating with mobile gaming companies to construct physical arenas, although the specific business models are yet to be finalized due to the early stages of development.

7. Regarding the investment timeline, he outlined plans to introduce two highly sought-after services in 2022, followed by an additional three in the following year. Tez Platforms intends to harness synergies and talent from various entities within the Hiranandani Group while aggressively hiring over 250 employees in the fiscal year 2022. The initial investment outlay for launching services this year is estimated to be around 1,000 crore. Over the subsequent 2–3 years, an anticipated investment of approximately 3,500 crore is expected.’ Darshan Hiranandani emphasized that the company, for now, will refrain from seeking strategic third-party investors, preferring to observe the product’s performance within the market before considering such arrangements.”

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