Brands
Hindustan Media Ventures Limited invests USD 5.5 million in Zvesta
MUMBAI: Gurugram based, Zvesta, a proptech start-up has raised USD 5.5 million from Hindustan Media Ventures. Zvesta is a 360-degree comprehensive AI-powered real-estate solutions company which is innovatively designed for buyers, sellers, developers, builders and property agents. Zvesta shall utilise the raised capital to build its brand and collaborative marketing for real estate aggregation across the country.
Zvesta is a marketplace where all the stakeholders connect on a real time basis to make clear and transparent deals through SaaS based platform, which provides an altogether new visualization, technology controls, faster and more interactive user-interface as a property search engine. The platform provision options to Search, List, Advertise, Sell, Buy and renting out various properties under the respective category of Residential, Commercial, Plots Land.
In addressing the fund raiser, Zvesta founder and CEO Rajan Dang said, “The capital raised will be used to widen the builder alliances from 100 to 1000 and other partnerships across India strengthening through its technology product. It will also be utilised to scale up the business by opening regional offices Jaipur (Rajasthan), Mumbai and Pune (Maharashtra), Bengaluru (Karnataka), Lucknow (Uttar Pradesh) as well and expansion of sales team.”
According to Zvesta co-founder and CIO Anushree Srivastava said, “Collaboration is the call of the era in Real Estate. The synergy for all influx and exodus to any system is imperative. Citing an example at the airport if collaborative technology is not used at the Airport there would be total mismanagement of the consumer and air traffic. At Zvesta, to gain fulfilment of business for E-Mitras, Dept of Information Technology, Rajasthan, Other counters it is important to maintain transparency. Hence the flow of the transaction that captures consumer sentiments, Lead flow, sale closure that may not be handled, all directly by one stakeholder, hence imperative for collaboration through technology ZVESTA PRO”.
In the words of HT Media Limited group CFO Piyush Gupta, “Zvesta’s real estate search engine and the database on which they are working is laying a foundation for homeowners, buyers, sellers, renters, real estate agents, landlords, and property managers to discover and maintain vital information about homes, real estate, transactions and home improvement”.
The Target benefits significantly from a first-mover advantage domestically as other on-line real estate services. Zvesta is taking advantage of the newly established governmental Real Estate Regulatory Authority (RERA) which regulates the real estate sector and compels all builders and developers to register their new and ongoing projects with it. Affordable housing has caught up, the government in order to focus on affordable housing has to mandate the use of technology to source all inventories and land parcels being allocated to each project. Likewise post built of the inventories the buy and sell should be made transparent.
Zvesta founders adorn the different cultures and professional backgrounds feel an instant connection with the Real Estate Community, given their shared sense of understanding and experience for maturing Zvesta to the next level in business. The company founders Rajan Dang, a multi-domain industry Leader in Banking, FMCG, Ecommerce & Real estate, and Anushree Srivastava, in past was Joint General Manager / IT of IRCTC handling INR 5,000 Cr Revenue Portfolio, built SAAS platform and set up new revenue streams for the corporation who have a decade of experience working in the E-commerce and technology space.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
