Dear friends and well-wishers of Kampani Capital,

The year has rolled by and before we can blink, we are already deep into the business end of this calendar year. The last few Diwali weeks saw an unprecedented (although not entirely unexpected) surge in consumer expenditure. Again, not surprisingly, it was the E Commerce Platforms that led the way with a clear tilt towards premiumisation. The Indian consumer has come a long way from waiting for months to get a telephone connection and two-wheeler vehicle to buying Teslas and top end I Phones on-demand!

While the spectre of tariffs still loom over our heads and the real impact may yet not be felt, it is heartening to speak to some of India’s large families, who seemed to have shed some of their concerns about potential slowing growth in India and have started working on overseas investments into firms and other real assets as part of their capital allocation strategy. We recently met up with a few Auto Component Companies in India and there is a lot of interest in international alliances and acquisitions.

Another sector that seems to be riding a seemingly unstoppable wave is the Real Estate space. We have seen some very hot IPOs from Coworking spaces over the last few months and my recent visit to Pune was an eye opener in terms of what is happening on the ground. While we  have been covering Corporates & Family Offices in Pune since 2007 , the Real Estate growth in a city, more famous for Military Cantonments and students has been mind numbing to say the least. You wont be laughed at if you thought you were in Manhattan or Hong Kong Central if you spent a night at one of the hotels located in the outskirts of Pune like Hinjewadi, Baner and Pashan. We have always supported more power to emerging India but we also do hope that public infrastructure can keep pace with this march of Private Capital growth – but more on that some other time.

Before we close, Sowmya and I must thank our international partners who have been very supportive and we are continuously growing our asset allocator network across regions like the Middle East, the UK, Italy, Hong Kong, Taiwan and the like.We are looking forward to getting on the Roadshow bandwagon in November with visits planned to Bangalore,Chennai and Ahmedabad all in quick succession.We are also heading to the Middle East for meetings with the local Family Offices in early December to better understand where they are seeing value in India.

Till we meet next time, keep the engines running !

Amar

Amar Kampani

CEO and Founder,

Kampani Capital (a Division of Anak Consulting LLP)