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

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Hiranandani Groufi venlures wilh a 1,000-crore
inveslmenl inlo lhe consumer lech seclor
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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.
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Darshan Hiranandani, CEO of Hiranandani Group,
stated to BusinessLine, This marks the next
natural phase of our evolution. Weve been
experiencing remarkable growth on our B2B front,
combining real estate and technology. For our
new venture, were 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.
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In the coming weeks, we plan to announce key
hires and unveil our senior management team.
While considering numerous opportunities, weve
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.
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Although Darshan Hiranandani clarified that the
current stage doesnt 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.
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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.
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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 23 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 products performance within the
market before considering such arrangements.
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