Does the Hubble expansion affect humans?

 

The Immense Stage: Does the Hubble Expansion Affect Us?

The vastness of space holds mysteries that both inspire and humble us. One such concept is the Hubble expansion, the idea that the universe itself is stretching, causing galaxies to drift further apart over time. It paints a picture of a dynamic cosmos, forever in flux. But does this grand cosmic ballet have any bearing on our lives here on Earth? The answer, like the universe itself, is surprisingly nuanced.

The Scale of the Stretch: Beyond Human Experience

The key to understanding the impact of Hubble expansion lies in its scale.Galaxies, the building blocks of the universe, reside at immense distances, often millions or billions of light-years apart. A light-year, itself a mind-boggling unit, represents the distance light travels in a year, roughly 9.5 trillion kilometers. On this grand scale, the expansion becomes significant. Imagine placing dots on the surface of a balloon and inflating it. The dots (galaxies) move further apart as the balloon (space) expands, but the dots themselves remain largely unaffected.

Similarly, the Hubble expansion doesn't tear apart objects bound by gravity, like our solar system or even our Milky Way galaxy. The gravitational pull between the sun and its planets, or between the stars and gas clouds within our galaxy, is far stronger than the influence of the universe's slow stretch.

The Speed of Separation: A Glacial Pace

Furthermore, the rate of expansion is incredibly slow on human timescales. Current estimates suggest the universe is expanding at a rate of around 70 kilometers per second per megaparsec (a unit of distance equal to millions of light-years). This might seem like a significant number, but put it in context:

• Oversized Units: We don't experience these massive distances in our daily lives. The nearest star, Proxima Centauri, is a mere 4.2 light-years away. At the rate of expansion, it would take tens of billions of years for it to move even a millimeter further from our sun.
• Galactic Pace: Even on a galactic scale, the effects are gradual. Our Milky Way galaxy is roughly 100,000 light-years across. Over billions of years, the expansion might cause the galaxy to stretch by a small percentage, but its overall structure remains stable.

The Big Picture: A Cornerstone of Cosmology

While the Hubble expansion might not directly impact us, it holds immense significance in understanding the grand narrative of the universe. Here's why it matters:

• Cosmic Age: By studying the rate of expansion and rewinding the clock metaphorically, cosmologists can estimate the universe's age. Current estimates place it around 13.8 billion years old, a humbling perspective on our place in time.
• Origin Story: The theory of inflation, a period of rapid expansion in the universe's very early stages, is linked to the Hubble expansion. Understanding the expansion helps us piece together the sequence of events that led to the universe we see today.
• Future Fate: The nature of dark energy, a mysterious force believed to be accelerating the expansion, is crucial in determining the ultimate fate of the cosmos. Will the universe continue to expand forever, or will it eventually collapse in on itself? The Hubble expansion is key to unraveling this mystery.

The Human Connection: Awe and Inspiration

Although the Hubble expansion doesn't directly affect our physical existence, it has a profound impact on our sense of wonder. We are inhabitants of a vast and dynamic universe, a stage far grander than anything we could have imagined. The realization that we are part of this ongoing cosmic story ignites curiosity and inspires us to push the boundaries of our knowledge.

The study of the Hubble expansion fuels our quest to understand the fundamental laws that govern the universe. It compels us to develop sophisticated technologies like telescopes and spacecraft to peer deeper into the cosmos. In a way, the Hubble expansion is a constant reminder of the vast potential that lies beyond our immediate experience.

In conclusion, the Hubble expansion might not be a force we feel in our daily lives, but it serves as a crucial cornerstone of cosmology. It shapes our understanding of the universe's age, origin, and ultimately, its fate. By studying this grand cosmic dance, we not only gain a deeper appreciation for our place in the cosmos but also embark on a thrilling journey of scientific discovery.

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 वक्ता: DB रियलिटी कंपनी ने क्यूआईपी मार्ग से 920 करोड़ रुपये जुटा लिए हैं। DB रियलिटी के उपाध्यक्ष और प्रबंध निदेशक शाहिद  अब हमारे साथ जुड़े हैं ताकि वे जुटाई गई राशि के बारे में विवरण चर्चा कर सकें। शाहिद, आपको शुभ अपराह्न और एक समय के बाद बात करके अच्छा लगा। क्या आप हमें इस जुटाई गई राशि के बारे में थोड़ा बता सकते हैं? आप कितना जुटाना चाहते हैं? ये धन किस उद्देश्य के लिए होगा? इसका कितना हिस्सा विकास के उद्देश्यों में और कितना कर्ज कम करने के लिए होगा?

शाहिद: तो हम पहले ही 920 करोड़ रुपये किया हैं क्यूआईपी मार्ग से इस उस चोंपी बाजार के बावजूद, लेकिन हमें इंवेस्टर्स का समर्थन मिला। अधिकांश ग्लोबल निवेशकों का समर्थन था और वह अब हमारे पीछे है। इस धन को हम अब DB रियलिटी में विकासीय पूंजी के रूप में उपयोग करेंगे। हम पहले ही ऋणमुक्त हैं, तो हमारे पास DB रियलिटी स्तर पर कोई कर्ज नहीं है। हमारे प्रोजेक्ट स्तर पर बहुत ही अल्पकालिक कर्ज है जो अगले वित्तीय वर्ष में पूर्णतः या अधिकांश वापस किया जाएगा। इसलिए सार्वजनिक स्तर पर अगले वित्तीय वर्ष भी हम कर्ज मुक्त होंगे। यह धन जो हमने जुटाया है, हम अपने प्रोजेक्ट्स के लिए विकास पूंजी के रूप में उपयोग करने की योजना बना रहे हैं। तो, आप जानते हैं, अन्य असली रियल एस्टेट विकास कंपनियों की तरह जिनके पास उनके प्रोजेक्ट्स का पांच, सात, आठ साल का जीवनकाल होता है, हमारा मॉडल अलग है। हम मुख्य रूप से डेवलपर्स के डेवलपर हैं, तो हम मुख्य रूप से वहां की भूमि प्रदान करते हैं जो हमारे साथ काम करते हैं। तो जैसे प्रेस्टीज, अब L&T, आदानी रियलिटी भी हमारे साथ एक प्रोजेक्ट के साथ है और समान एलजी प्रॉपर्टी। तो हम इन आखिरी डेवलपर्स के साथ काम करते हैं, हम अपनी भूमियों को या उन भूमियों को जो हम विकास के लिए लेते हैं, उन्हें विकास के लिए लाते हैं और एक वर्ष और एक वर्ष और आधा हम अपनी पूंजी को पुनः चक्रवात करने के लिए सक्षम होते हैं।

वक्ता: समझा। शाहिद, यहां कुछ सवाल हैं। इस पूरे पैसे का मैं मानता हूं कि DB रियलिटी के लिए होगा न कि बिखेरे हुए आतिथ्य के लिए, सही है?

शाहिद: हां, तो हम इसे ऐसे उपयोग नहीं करने का इरादा नहीं कर रहे हैं, हम ऐसे किसी सहायता के लिए प्रदान करेंगे, लेकिन यह शर्त पर है कि पैसा हमें लौटाया जाए। यह एक। दूसरा यह है कि, आप जानते हैं, हमें अब आनुवृत्ति की एक धारा है। तो इस वर्ष से हमारे पास करीब 250 करोड़ की आनुवृत्ति होगी जो मीरा की भूमि के किराए पर आएगी और दो साल बाद, हमें DB रियलिटी में करीब 15 से 1600 करोड़ की आनुवृत्ति के रेंटल यील्ड के रूप में मिलेगा। तो यह सभी किराया यील्ड हमें उन्नति पूंजी के लिए आवश्यक नहीं है, लेकिन हम आगे जाने में इसे स्थानांतरित करना चाहेंगे।

वक्ता: अच्छा। शाहिद, आगले एक से दो साल में DBT की क्या योजना है? क्या आप मुख्य रूप से मुंबई बाजार पर ही ध्यान देंगे या किसी अन्य खिलाड़ियों के साथ और ज्वेंटर विचार कर रहे हैं क्योंकि इसमें एक या दो साल में बहुत से खिलाड़ी प्रवेश कर रहे हैं? आपको प्रेस्टीज आदि जैसे दक्षिणी खिलाड़ियों के साथ और कोई JVS करने की योजना है?

शाहिद: तो हम पहले ही प्रेस्टीज के साथ काम कर रहे हैं। आप जानते हैं, विकासीय मूल्य (जीडीवी), एक शब्द जो डेवलपर्स द्वारा उपयोग किया जाता है, हम मुंबई में प्रेस्टीज के साथ लगभग 70,000 करोड़ के प्रोजेक्ट्स कर रहे हैं निर्माणाधीन हैं। अन्य डेवलपर्स के साथ हम गोद्रिज के साथ काम कर रहे हैं, हमारा एक प्रोजेक्ट चल रहा है जो वर्तमान में 6,000 करोड़ के प्रोजेक्ट्स के रूप में है निर्माणाधीन। लीएण्टी के साथ भी हम बड़े प्रोजेक्ट पर काम कर रहे हैं और हम अन्य डेवलपर्स के साथ भी काम कर रहे हैं जो मुंबई के बाहर आधारित हैं और उन सभी को हम एक विश्वसनीय संवादक के रूप में देखते हैं जो उन्हें मुंबई के अन्य किसी प्रोजेक्ट को बचा सकते हैं।

वक्ता: पहले आपने 1500 करोड़ रुपये जुटाने की इच्छा जाहिर की थी। तो क्या आपने इस कियूआईपी से 920 करोड़ के साथ और कुछ जुटाने की उम्मीद है या यह अभी फंडरेज के लिए काफी है?

शाहिद: फंडरेज के लिए इस वक्त के लिए यह है, क्योंकि मुझे लगता है कि हम इस समय किसी भी धन को नहीं जुटाना चाहते हैं। यह धन विकास के लिए जुटाया गया था, इसलिए किसी खास ऋण का प्रतिपूर्ति या किसी अन्य तुरंत निकासी के लिए नहीं था। हम इसे मूल्यवान संसाधन के रूप में उपयोग करेंगे और हमारा पूंजी पर पूर्णतः मुक्त ऋणमुक्त होने की अपेक्षा है। और आप जानते हैं, हमारी पूंजी पर अधिक अधिक लाभ प्राप्त करने की उम्मीद है, इसलिए हम इस धन का उपयोग करने में बहुत होशियार होंगे और हम ऋणमुक्त होंगे आगे चलकर। और आप जानते हैं, हमारी मान्यता है कि निर्माण व्यवसाय, कम से कम हमारे साथ, ऋण रखने की सामर्थ्य नहीं हो सकती।

वक्ता: क्या आप हमें बता सकते हैं कि DB रियलिटी वर्तमान में कितना तेजी से बिक्री कर रहा है और अगले एक या दो साल में क्या अपेक्षा है?

शाहिद: तो आप जानते हैं, हमारे व्यापार की प्रकृति हमारे साथ हमारे उत्कृष्टों के व्यापार की प्रकृति से भिन्न है जहां उनके पास तिमाही बिक्री और पूर्व-बिक्री इत्यादि होती है, हम व्यापार को नकदी के रूप में देखते हैं। इस साल हमारे पास अधिकांश नकदी थी लेकिन आगामी वर्षों में, हम उम्मीद करते हैं कि यह कम से कम 1,000 करोड़ से अधिक होगी और फिर विकास की आगे बढ़ने के लिए विकास नहीं होगा।

वक्ता: ठीक है। तो आप अगले साल ही 1,000 करोड़ रुपये की नकदी धारण कर रहे हैं। आपके पास अनबिक्रिय इन्वेंटरी और जमीन की कितनी मूल्ययन है जो आपके पास है अभी तक?

शाहिद: तो कंपनी को अंशों के रूप में मूल्यांकन किया जा सकता है, तो मैं यह कर सकता हूँ। हमारे पास कई प्रोजेक्ट्स हैं, हमारे पास 600 करोड़ एकड़ भूमि है लेकिन मैं कुछ भूमि पार्सल्स को ही लूंगा जिनमें हमें बहुत अधिकांशतः रुचि है। हमारी सबसे महत्वपूर्ण भूमि मीरा रोड की भूमि पार्सल है जिसमें विकास की लगभग 5 करोड़ वर्ग फीट की क्षमता है और आज के कैपिटल मूल्य के अधीन है। तो आप बस उसको गुणा करें और यह एक लाख करोड़ है सिर्फ एक प्रोजेक्ट में। हम शहर के कई ऐसे प्रोजेक्ट्स रखते हैं और हमारी सभी कंपनी की कुछ होती है बहुत अधिक है जो वर्तमान मूल्य के नीचे ट्रेड करती है। हम समझते हैं कि बाजार को कुछ समय की जरूरत होगी मुझे यह देखने में कि यदि कामयाबी आने के लिए कामयाबी आती है और वे नकदी की आगाहता आती है और लाभ आदि में बढ़त देखते हैं तो वे हमें बेहतर समझ सकेंगे।

वक्ता: हम यह जानने की कोशिश कर रहे हैं कि वास्तविक मूल्य क्या होगा क्योंकि आप जानते हैं, मीरा रोड जैसे स्थानों के साथ ही क्या पिछले कुछ समय में देखने की अपेक्षा की गई है। क्या आप हमें इसके बारे में थोड़ा अधिक बता सकते हैं?

शाहिद: तो हमारी सभी भूमियों का मूल्यांकन किया जा सकता है तो मैं आपको बता सकता हूं कि मैं कितना सस्ता कैपिटल जरूरत है। हमारी भूमियों का मूल्य 30,000 रुपये प्रति वर्ग फीट से शुरू होता है, लेकिन वे हमारे केंद्र में 1,00,000 रुपये प्रति वर्ग फीट के नीचे के मूल्य में होती हैं। यहां तक कि कई भूमि पार्सल्स हमें अभी भी 20,000 रुपये प्रति वर्ग फीट के नीचे के मूल्य में बेची जा सकती हैं। इसलिए बहुत ही अनामत के अवसर हैं। और हम लोग इसे कार्यान्वित कर रहे हैं। हमें यह मालूम है कि मुझे यह नहीं कहना चाहिए, लेकिन बाजार की कोई भी चर्चा करें, आपको यही कहा जाएगा कि यह बाजार कमीशन का बाजार है। और हमारी संपत्ति के बिक्री मूल्य पर आप भी अपनी संपत्ति की कोई भी तुलना कर सकते हैं और विज्ञापन के समय पर।

वक्ता: शाहिद, धन्यवाद। यह चर्चा के लिए धन्यवाद।

शाहिद: धन्यवाद।

Discussion about DB Realty's fundraising and future plans

 Number of Speakers: 2

Shahid Balva (Shahid) and Interviewer (Interviewer)

Discussion about DB Realty's fundraising and future plans

[Interviewer]: of DB Realty the company has raised 920 crores via the QIP route. Shahid Balva, the vice chairman and managing director of DB Realty, joins us now to discuss details on the fundraising. Shahid, good afternoon and good speaking to you after a while. Can you tell us a little bit about this fundraising? How much are you looking to raise? What will the funds be used for? How much of it will be put into growth purposes and how much to perhaps reduce debt?

[Shahid]: So, we have already raised 920 crores via the QIP amidst this choppy Market but you know we had the investors backing us mostly Global in investors and that is now behind us. Having raised that money, we are now going to use this as a growth Capital at DB Realty. We are already debt-free, so we have zero debt at DB Realty level. We have very insignificant debt at the project level which will also be more or less repaid next financial year. So essentially, next financial year on a Consolidated basis also we will be debt-free. This money that we have raised, we are intending to utilize this as a growth capital for our projects. So, you know unlike other real estate development companies who have a five, seven, eight-year life cycle of their projects, our model is different. We are basically a developer of developers, so we provide land to most of the developers in Mumbai who work with us. So the likes of Prestige, now L&T, Adani Realty also has a project with us and similar LG properties. So we work with these last developers, we develop our lands or lands that we take up for development like slums, bring them up to a development stage and a year and a year and a half we are able to recycle our Capital unlike normal developer who will have to wait who has to wait seven eight years our capital is back in a year year and a half and then we recycle it to other projects.

[Interviewer]: Got it. Shahid, just a couple of questions here. One is that this entire money I presume will be used for DB Realty itself and not the demerged hospitality, right?

[Shahid]: Yeah, so we are not intending to use this in, so we are not intending to use this capital for the hospitality bit. Except that in the interim so till the hospitality is companies demerged and listed we will provide support but the support is on condition that the money gets returned back to us. That is one. Second is the, you know we have a stream of annuity coming up. So from this year onwards, we will have about 250 crores of annuity coming from rent of our land in Mira and from two years hence, we will have about 15 to 1600 crores of annuity rental yield coming into DB Realty. So all that rental yield will keep on adding into the kitty which we will mostly, you know, we don't need as much as what we will as as much as the rental yield for our growth Capital but we would like to return that to shareholders in some form or the other going forward.

[Interviewer]: Okay. Can you tell us about what is the plan that DBT has over the next one to two years? Will you be largely focused in the Mumbai market itself any more JVS that you're looking to do with any other players because there are so many players now entering the Mumbai market? You know, South based players like Prestige etc. Any more JVS that you're looking at?

[Shahid]: So, we are already working with Prestige today. You know, in terms of gross development value (GDV), a term that is used by developers, we have almost 70,000 crores worth of projects ongoing with Prestige in Mumbai under construction. With other developers, we are actively working with Godrej; we have one project ongoing which is almost 6,000 crores in terms of gross development value. We have other projects in pipeline where we are in discussions with L&T. Hopefully, you know, some most of them will fructify large projects that we are working with L&T also. And we are also working with other developers who are not present in Mumbai, large developers who are based out outside of Mumbai and all of them look at us as a credible counterparty for project that they want to undertake in the Mumbai real estate market.

[Interviewer]: Right. You wanted to earlier raise 1,500 crores, right? That was the board resolution. So with this 920 crores QIP that you've done, can we expect some more coming in or this is it for fundraise right now?

[Shahid]: For the moment, this is it because I don't think we intend to raise any money at the moment. Even this money was raised for growth so it wasn't raised for any particular debt repayment or any other immediate outflow. We will use this money as a precious resource and our expectation for return on Capital is much much higher than you know other our peers. So, we'll be very judicious in using this money and we will be debt-free going forward and you know it is our belief that you know the real estate business at least the business that we are in cannot afford to have debts.

[Interviewer]: Can you help us with what is the quarterly sales run rate that DB Realty is doing right now and what does what is the expectation over the next one to two years?

[Shahid]: So, you know because the nature of our business is different from the nature of the business of our peers where they have you know quarterly sales and pre-sales etc., the way we look at this business in terms of cash flow. So, this year we had significant cash flow but coming years, that cash flow is going to keep on increasing. We are hoping that it will be at least 1,000 crores plus next year and then you know there the growth thereafter is going to be not incremental but exponential.

[Interviewer]: Alright. So you are targeting 1,000 crores of cash flow next year itself. What's the value of the unsold inventory and the land bank that you have right now?

[Shahid]: So, you know the company can be valued in some of parts. We have several projects, we have over 600 acres of land but I'll just take a few of the land parcels that we have. And our most significant land parcel is the land parcel at Mira road which has about 5 crore square feet of development potential. And today the capital values over there are about 20,000 rupees a square foot. So you just you know you multiply that and that's about a lakh crores in just one project. We have several such projects across the city and the sum of parts of our company is significantly greater than the value of the share as it trades presently. We understand that you know the market will have a little bit of time to understand maybe a quarter or two and when they see the cash flow coming in and the balance sheet becoming even more and more visible in terms of profits etc. they probably be able to understand us better.

[Interviewer]: What we're trying to understand is what the realizable value would be because you know uh the projection for what the value for Mira Road would be uh is slightly different from the kind of realizations that we've seen in recent past at a lot more premium locations like South Bombay and BKC as well. So just wanted your thoughts on what is the kind of realizations that you will see.

[Shahid]: Mira road is a stable market. We have two projects already ongoing in Mira Road and the realizable capital value today is between 17 to 20,000 rupees depending on the views location etc. These are all affordable segments so these are the apartment that we build over there are between 600 to 1200 rupees per square foot. So this is one to one and a half to two and a half crore ticket size. It is not comparable to the South Mumbai market where there are large luxury projects. Our affordable segment is doing exceptionally well so we are even in our existing projects we are seeing no slowdown the action is good and coming back to Mira road those projects will that particular one project will give us whenever we start almost about 5,000 crores of cash flow every year for the next 20 years.

[Interviewer]: We were just having this discussion with a couple of other real estate stakeholders an hour or two ago about how the MMR region is seeing huge potential in Redevelopment there are 30,000 crores worth of projects which could get into Redevelopment over the next couple of years. Would you folks at DB Realty be doing anything on the Redevelopment front I mean just trying to understand what kind of potential would it be for you?

[Shahid]: Mostly the Redevelopment is in the Mumbai region not when I say BMC limits the MMR region still hasn't does not have a capital values to support Redevelopment because there is a intrinsic cross subsidy in that model. But in the Mumbai model for example is not 30,000 there is a Perpetual for the next 20 years you will see Redevelopment happening and the number is much much bigger it's not even we we we are not even able to comprehend it maybe three lakh crore, 10 lakh crore whatever that number is but the Redevelopment opportunity is there just to give you an example we are right now in BLe we have a project with Prestige it's called the Jijamata Nagar project we've just started developing that project it's got 4 million sare ft of development potential at current Capital values that is 40,000 crores of development in one project so that 30,000 crore number maybe has a couple of zeros missing from them.

[Interviewer]: All right, that's crazy the projections that you're making here but you know just wanted to understand with regards to the portfolio going forward you have about 28 and a half million square feet in terms of a residential portfolio how much of that will be executed in the next financial year how much will be upcoming out of this where construction has not yet started?

[Shahid]: So, you know you might be referring to our corporate presentation. So the ongoing projects that you see will all get completed next year all of them literally all of them. Then there is upcoming those are projects that we will start over the next one one and a half year those are land banks that we already have own or have rights to develop. So those will be separately as in when we launch those projects with Partners. So in our ongoing projects, we already have Partners in our upcoming projects we are working with L&T very closely we are obviously working with Prestige very closely we are also in discussions with Godrej on one project. So those projects as we as time goes by in the next two three quarters we will keep on announcing the partnership with existing Partners on those projects.

[Interviewer]: Shahid, great speaking with you. Thank you so much for joining us and all the best with the plans that you have at DB Realty.