Volkswagen launches 'upgrade' plan at as low as Rs 2,000 per month. Check cars eligible for this upgrade
The optional upgrade costs Rs 1,945 (£16.50) per month, Rs 19,450 (£165) annually, or Rs 76,506 (£649) for a one-time lifetime purchase.
Company's explanation
A Volkswagen spokesperson said the move reflects a long-standing practice in the automobile sector. 'Historically many petrol and diesel vehicles have been offered with engines of the same size, but with the possibility of choosing one with more potency,' the spokesperson said, adding that the subscription was designed to offer customers flexibility.
According to the company, the power upgrade allows a 'sportier' driving experience without committing to a higher upfront purchase price.
Customer backlash
Despite Volkswagen's reasoning, many customers expressed disappointment on social media. Critics described the system as 'artificial gatekeeping' and a 'cash grab.'
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'When there's a will, there's a way. It'll be like ECU tuning except now you gotta have the skills of an iPhone jailbreaker,' one user wrote. Another said: 'The problem is not the ability to do something like this. The problem is the artificial gatekeeping of the features for sh*t value.'
A third commented that although most buyers could afford the Rs 76,506 (£649) lifetime upgrade, they would rather find ways to bypass the restriction 'out of spite.'
Previous instances
Volkswagen is not the only carmaker using such a model. Mercedes-Benz offers 'Acceleration Increase' for its EQE and EQS electric cars. Tesla allows drivers of its Model Y to pay $2,000 upfront for an Acceleration Boost, though it does not offer a subscription plan.
BMW has also introduced subscription models, charging $18 per month to unlock heated seats and $12 for heated steering wheels.
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Indian Express
6 minutes ago
- Indian Express
Luxury, land, and a Rs 90,000 crore pipeline: Is Godrej Properties still a buy?
Godrej Properties has been one of the most closely watched names in India's listed real estate space. The stock's 10-year journey shows a steady climb in the early years, followed by a sharp acceleration from 2023 into mid-2024 when it touched record highs above Rs 3,200. Since then, the share price has corrected and now trades mostly between Rs 2,000 and Rs 2,400. This reflects a market reassessment of growth expectations after a period of extraordinary momentum. The latest quarterly numbers offer insight into how the business is positioned in this new phase. In Q1 FY26, the company reported bookings worth Rs 7,082 crore from the sale of 4,231 homes, covering 6.17 million square feet. This was the eighth consecutive quarter above the Rs 5,000 crore-mark and represented a two-year compounded growth rate of 77 per cent, even though it was lower than the same period last year. The sales mix was broad, with Bengaluru contributing over Rs 3,000 crore, and both the Mumbai region and NCR crossing Rs 1,600 crore each. Collections stood at Rs 3,670 crore, a 22 per cent rise from a year ago, reinforcing the company's ability to turn bookings into cash. On the profit side, Godrej Properties delivered its highest-ever quarterly net profit of Rs 600 crore, up 15 per cent year-on-year, on a total income of Rs 1,593 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 18 per cent to Rs 915 crore, aided by strong sell-through on new launches and cost control. For investors, the data confirms that the business fundamentals remain strong. Yet, the flat share price suggests lingering questions: is the growth pace slowing, is the premium valuation already pricing in the next few years, or is the broader housing cycle entering a more balanced phase? Business model and margins: Making sense of the numbers Walk into a Godrej Properties launch and you will see a familiar playbook at work. The company rarely buys every piece of land it builds on. Often, it partners with landowners, sharing either the built-up area or the revenue instead of paying for the land upfront. This keeps its finances light and gives it a shot at prime plots in big cities without locking up huge sums for years. Management says every deal, whether outright or a partnership, must clear the same hurdles — a healthy project profit and an annual return of over 20 per cent. It is a simple filter, but it explains why the portfolio now covers both city-centre towers and township projects, yet aims for similar economics. That filter was visible in the first quarter of FY26. The company added five projects with a combined potential sale value of Rs 11,400 crore. That is already more than half its full-year target for new additions. In plain terms, Godrej now has more homes lined up to sell, keeping its sales machine well stocked for the coming quarters. Also, the stars of the quarter were MSR City in Bengaluru, Majesty in Greater Noida, and Tiara in Pune, which together contributed almost half the sales. But then, if the sales counter is ticking so fast, why did reported revenue dip slightly to Rs 1,593 crore? The answer lies in the way real estate accounts for income. The numbers you see in the profit and loss statement reflect construction progress and handovers, not just bookings. In Q1, Godrej delivered 0.8 million square feet against a full-year target of at least 10 million. The rest of those sales will show up in future quarters as projects are built and handed over. Where the quarter shone was profitability. Even with flat revenue, EBITDA rose 18 per cent to Rs 915 crore, and net profit jumped 15 per cent to Rs 600 crore, the highest quarterly profit in the company's history. A big part of this came from selling high-demand projects that quickly covered fixed costs, and from some additional income in joint ventures. Collections from customers rose 22 per cent to Rs 3,670 crore, which matters because it turns sales into cash, keeps debt low, and keeps building sites active. Prices, too, are holding. Godrej managed small increases – 2 to 3 per cent in North and South India, 1 to 2 per cent in Mumbai, and little change in Pune. In some projects, the company is holding back the choicest apartments and releasing them in phases to secure higher prices later. At Golf Course Road, for example, sales after launch grew from Rs 497 crore to Rs 778 crore in six months, while Lakeside Orchard went from Rs 268 crore at launch to Rs 1,370 crore over time. The next big test is execution. The company has been overhauling its construction setup — tracking labour through digital tools, bringing in larger contractors, and buying materials like lifts, tiles, and paints in bulk. In Q1, it spent about Rs 1,170 crore on construction, up from Rs 750 crore a year ago. The idea is simple: the faster the sites move, the sooner sales become revenue and profit. Margins will not always look as strong as they did this quarter. The mix of projects matters, as does Godrej's share in each. Sales from joint ventures where it owns a smaller stake will feed less profit into its accounts. Approval delays or slower build-outs could also shift earnings to later periods. And with rivals launching heavily in the same markets, holding on to price will depend less on the Godrej name and more on how well, and how quickly, the company delivers. For now, the numbers show a healthy business. The stock, however, has been stuck in a range because the market wants to see the same story play out quarter after quarter — strong sales, fast construction, and consistent profits. If Godrej can keep that rhythm, it will have a much stronger case for breaking free from that range. Valuation: what is priced in, what is left, and what it hinges on Godrej Properties' stock does not trade like a typical real estate company. On many metrics, it is valued more like a high-growth consumer brand. The market is willing to pay a premium because of three things: the power of the Godrej name, its ability to sell across multiple cities, and a land bank that can keep the launch pipeline full for years. That premium is visible in the numbers. By most analyst estimates, the stock trades at par with the sector average on earnings and enterprise value multiples. The upside case is easy to imagine. If Godrej can convert its Rs 40,000 crore-plus launch pipeline into steady sales, keep collections strong, and speed up deliveries so that profits rise in step with bookings, earnings could grow at a healthy clip for several years. That would make today's valuation look more reasonable over time. The balance sheet is in good shape, debt is low, and the brand gives it pricing power in many markets. In a softer demand environment, that combination can still win share from weaker developers. The downside comes from the same place as the promise. With the stock already pricing in a long runway of growth, there is little margin for error. Any slowdown in sales momentum, slippage in deliveries, or squeeze on margins could quickly change investor sentiment. Competition is intense, with other large developers also launching aggressively in key micro markets. If prices stagnate and absorption rates slow, the market could start to question whether the premium is still justified. Approval delays, especially in large city projects, and a need for higher construction spending could also weigh on near-term cash flows. For now, the share price is telling its own story. It has been locked in a range because investors are waiting for proof that the high bookings of recent quarters will flow through into equally strong earnings, quarter after quarter. The next leg up hinges on execution – getting projects built and handed over at the pace the pipeline promises, without letting margins slip. If that happens, the stock has room to move. Note: This article relies on data from annual and industry reports. We have used our assumptions for forecasting. Parth Parikh has over a decade of experience in finance and research and currently heads the growth and content vertical at Finsire. He holds an FRM Charter and an MBA in Finance from Narsee Monjee Institute of Management Studies. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.
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Business Standard
6 minutes ago
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Best of BS Opinion: India's choices in a world of shifting alliances
Sometimes, dawn surprises us. On some mornings, when the smog lifts a little late, the sky doesn't always glow orange or pink, it burns purple, evoking an emotion that is unusual, unsettling, but undeniably striking. A purple sunrise feels unfamiliar as it is neither night nor day, neither threat nor promise, but a reminder that the world can tilt without warning. Much like this strange dawn, today's writeups capture moments of uncertainty: alliances tested, policies shifting, and futures recast in unexpected shades. Let's dive in. In Washington, a purple sun casts long shadows on India-US trade. Peter Navarro defended a 25 per cent tariff on Indian exports in the Financial Times, linking it to discounted Russian oil purchases. Yet larger buyers like China and Turkiye face no such penalty, exposing selective logic in US trade policy. With India already reducing Russian imports, the imbalance remains, notes our first editorial, and the debate now is whether New Delhi should pre-emptively lower its own tariffs to turn the purple glare into long-term advantage. Closer home, the unusual light also falls on Beijing's sudden warmth. Chinese foreign minister Wang Yi's first visit in three years promised cooperation on fertilisers, minerals, and visas, while signalling readiness for Prime Minister Narendra Modi's expected trip for the SCO summit. Disengagements on the border and resumed pilgrimages suggest easing tensions, but history shows Beijing's hues can change overnight, highlights our second editorial. For India, reducing dependence while broadening regional partnerships may be the only way to guard against sudden eclipses. Meanwhile, Shyam Saran sees the same strange dawn in Europe's courtship of Donald Trump. Leaders, eager to brand him peacemaker, endorsed territorial concessions to Russia, a diplomatic win for Moscow disguised as compromise. For Russia, it was a quiet victory and for India, the lesson is clear: avoid pandering to volatile leaders, prepare for hostile tariffs that will not vanish, and guard against 'grand bargains' that may push New Delhi to the margins. Yet amid the global haze, Vinayak Chatterjee points to the glow of opportunity within. He writes that India's Rs 1 trillion Urban Challenge Fund could finally give cities the resources to become growth hubs, provided projects are designed to attract private capital and avoid the stumbles of past schemes. With urbanisation accelerating, this could be the purple glow of opportunity on the horizon. And finally, in Gunjan Singh's review of Joseph Torigian's biography of Xi Zhongxun, the father of Xi Jinping, the theme sharpens. Xi senior's life, marked by loyalty, purges, and resilience, shows how power bends people and systems alike. It is a reminder that a purple sun rises when history itself is in flux and we must learn to read the colours before they fade. Stay tuned!
Economic Times
25 minutes ago
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Nod for blanket ban on online money games
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Banks and financial institutions who engage in or facilitate the transaction of funds for money games will face the same penal charges. Meanwhile, advertising such games would attract jail term of up to two years, and a fine of up to Rs 50 lakh, or both. The Promotion and Regulation of Online Gaming Bill 2025 was drafted by the Ministry of Electronics and Information Technology (MeitY). It's expected to be presented in Parliament on Wednesday by Union minister of electronics and information technology Ashwini Vaishnaw. It may be referred to a select parliamentary committee. The bill seeks to promote the burgeoning discipline of e-sports in line with global trends, along with gamification and the animation, visual effects, gaming and comics (AVGC) sector. It also proposes to create a national authority to regulate the overall gaming industry. 'The government has no issues with online gaming. The issue is only with online money gaming,' said an official. The government recognises that 'India could become the gaming capital of the world' and legitimate games without any money aspect will be promoted, the official said. 'The industry was playing on the grey area that existed between games of skill and chance. If betting and gambling is not allowed in the physical world, how can it be permitted in the online space.' The Centre has listened to industry voices over several occasions, the official said, countering the contention that feedback from companies was not heard before the bill went to cost to society was taken into account.'Yes, thousands of jobs may be lost, but the future of lakhs of people will be saved,' the official said. The bill says online money games have led to socioeconomic and psychological consequences, posing a risk to public welfare. It seeks to bar such games from online portals and general user participation besides curbing endorsements by celebrities and influencers. 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The move will see India become a global hub for creative and cutting-edge digital gaming content, the bill says.'The law reportedly seeks to criminalise all online money games that don't qualify as e-sports or online social games. This could inadvertently cover well-recognised protected formats,' said Arun Prabhu, partner and co-head, digital and TMT at law firm Cyril Amarchand Mangaldas. He explained that the distinction is based on whether money is staked and winnings are bill reportedly also proposes a new blocking mechanism, expanding the scope of this beyond the existing IT Act's Section 69A.'Whether these widely worded restrictions and powers will be enacted in their current form, or survive judicial scrutiny, remains uncertain,' Prabhu gaming platforms had hoped for a favourable judgment by the Supreme Court in a case concerning the applicability of goods and services tax (GST) on online games as part of a Rs 2.5 lakh crore dispute. One of the largest tax cases in India's legal history, it centres on the interpretation of Rule 31A of the Central Goods and Services Tax (CGST) rules. This mandates 28% GST on the face value of bets. Last week, the top court reserved its judgment on the the government has argued the bill is necessary since judicial interpretations on the matter have been inconsistent, resulting in legal uncertainty and enforcement paralysis. The need for a national regulator arose due to the challenges in cross-border and inter-state operations considering the 'regulatory grey zone' in which the sector has operated so meetings on the bill took place on Tuesday among officials from MeitY and the Prime Minister's Office, sources said. 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