Emaar India

Emaar Properties rules out stake sale in india, eyes JV with Adani, others

Dubai-based Emaar Properties has asserted that it will not sell stakes in its Indian entity but the company is considering forming joint venture with big business houses in India including Adani Group. In a regulatory filing on September 18 at Dubai Financial Market, Emaar Properties said the company "is no longer considering sale of any stake in its Indian entity." "Alternatively, the company is considering joint venture with other large companies /groups in India, including Adani Group," it added. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and had invested around Rs 8,500 crore through the joint venture firm Emaar MGF Land. In April 2016, Emaar Properties decided to end the joint venture through a demerger process. Emaar India has a large portfolio of residential and commercial spaces across Delhi-NCR, Mumbai, Mohali, Lucknow, Indore and Jaipur. Adani Group is active in the Indian real estate market thr

CCI dismisses complaint against Emaar India over Marbella villa project

Fair trade regulator CCI has dismissed a complaint alleging abuse of dominance and anti-competitive practices by Emaar India Ltd and others in connection with its "Marbella" villa project in Gurugram. "The Commission finds that no prima facie case of contravention of the provisions of Sections 3 and 4 of the Act is made out against the opposite parties in the instant matter," according to an order passed by the Competition Commission of India (CCI). Section 3 and 4 pertain to anti-competitive agreements and abuse of dominant position, respectively. The case was based on a complaint filed by an informant who alleged that Emaar India Ltd, its group firm Emaar India Community Management, and several government departments including the Department of Town and Country Planning, Haryana, and the Union of India through DPIIT have violated the Sections 3 and 4 of the Competition Act. The complainant alleged that Emaar misused its dominant position by permitting construction of builder floo

Emaar India to invest ₹400 crore in luxury housing project in Lucknow

Realty firm Emaar India will invest Rs 400 crore to develop a housing project in Lucknow as part of its expansion plan. Emaar India, which is part of Dubai-based Emaar Properties, on Monday launched its high-rise residential project 'Elite Oasis' at Gomti Nagar Extension in Lucknow, the capital of Uttar Pradesh. The project, spread over 2.923 acres, will have 194 units. The price range is Rs 2.75 crore to Rs 4.15 crore. "The total investment for the project is Rs 400 crore," the company said in a statement. "Emaar is known for its world-class architecture and skyscrapers. In Lucknow, Emaar is going to utilise this expertise to launch our first group housing project for the people of Lucknow, who are aspiring for a world-class lifestyle," Kalyan Chakrabarti, CEO of Emaar India, said. Emaar India is developing projects in Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur.

Adani, Emaar said to be discussing deal structure for $1.4 bn India unit

Adani family and Emaar are discussing the structure of a transaction, which could include an unlisted Adani unit infusing about $400 million in equity

Emaar expects Rs 3,400 cr revenue from luxury housing project in Gurugram

Realty firm Emaar India is expecting around Rs 3,400 crore revenue from its newly launched luxury housing project in Gurugram. Emaar India, which is part of Dubai-based Emaar Properties, has recently launched a housing project 'Urban Ascent' in Sector 112, Gurugram. Emaar India CEO Kalyan Chakrabarti said the company will develop 816 apartments in this 9.2-acre luxury housing project. He said this project is under a joint development agreement (JDA) with land owners. "The total investment will be around Rs 1,600 crore to develop this green project," he said. The sales bookings value is estimated at around Rs 3,400 crore, Chakrabarti said. The company is selling apartments in a price range of Rs 2.5 crore to Rs 6 crore. The project will be completed in the next four-five years. Chakrabarti noted that housing demand continues to be strong in Delhi-NCR from end-users as well as investors. Gurugram-based brokerage firm V S Realtors founder Vijay Harsh Jha said the demand for the re

Emaar India to invest Rs 1,600 cr on new housing project in Gurugram

Realty firm Emaar India will invest around Rs 1,600 crore to develop a new luxury housing project in Gurugram as part of its expansion plan amid strong demand for residential properties. Emaar India, which is part of Dubai-based Emaar Properties, has launched a new housing project 'Urban Ascent' in Sector 112, Gurugram. "We have launched a new housing project on Dwarka Expressway, Gurugram. It is a 9.2 acre luxury housing project where we will be developing 816 apartments," Emaar India CEO Kalyan Chakrabarti told PTI. He said this project is under joint development agreement (JDA) with land owners. "The total investment will be around Rs 1,600 crore to develop this green project," he said. Chakrabarti said the housing demand continues to be strong in Delhi-NCR from end-users as well as investors. "This is our first launch this year. Urban Ascent is more than just a residential project'- it's a lifestyle crafted for those who seek comfort, convenience and a connection to nature,"

Dubai's Emaar in talks with Adani, others to sell stake in Indian business

The statement followed media reports on Wednesday stating that Adani Realty was in advanced talks to acquire a majority stake in Emaar India

Emaar to invest Rs 1k cr in G'gram housing project, targets 2.5k cr revenue

Realty firm Emaar India will invest around Rs 1,000 crore to construct a new luxury housing project in Gurugram amid strong demand for premium residential properties. The company has launched a new project 'Amaris' at Sector 62 in Golf Course Extension Road, Gurugram. "We have launched a new housing project in Gurugram. We are getting a tremendous response from customers," Emaar India CEO Kalyan Chakrabarti told PTI. He said the company will develop 522 apartments in this 6.2-acre project, with a development potential of 15 lakh square feet. Asked about project cost, Chakrabarti said it will be around Rs 1,000 crore excluding land cost. The total revenue potential from this project is estimated at around Rs 2,500 crore, he said. "This project stands as a testament to Emaar's unwavering commitment to providing high-quality living spaces that align with our customers' needs and uphold the highest design standards," Chakrabarti said. He said the project will be completed in the nex

Emaar India unveils Amaris: Rs 4.5 cr green, luxury flats in Gurugram

Amaris is Located at Sector 62, in Golf Course Extension Road micro market in Gurugram, which is one of the most upmarket neighborhoods in Gurugram, Delhi NCR.

Emaar India to invest Rs 2,000 crore in Mumbai Metropolitan Region market

The company's first project in the state will soon be launched in Alibag, with an estimated revenue potential of about Rs 700 crore

ED attaches Rs 834 cr land of Emaar India, MGF Developments under PMLA

The attached properties, spanning 401.65 acres in Gurugram and Delhi, are linked to an ongoing investigation into fraudulent land acquisitions

Emaar India eyes Rs 900 crore luxury housing project in Gurugram: CEO

Realty firm Emaar India will invest Rs 900 crore over the next four years to develop a luxury housing projects in Gurugram as part of its expansion plan, a top company official said. The company, which is part of Dubai-based Emaar Properties, has launched and already sold 424 luxury homes in its group housing project 'Urban Oasis' located at Sector 62, Golf Course Extension Road in Gurugram. In an interview with PTI, Kalyan Chakrabarti, CEO of Emaar India, said, "We launched a residential project after a gap of almost four years, and were humbled by the response from the market." Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available. He said the demand for luxury homes in all major cities including Gurugram is very strong from both end users and investors. Asked about the project cost, Chakrabarti said it will be around Rs 900 crore excluding

Emaar India accuses MGF Developments of illegal transfer of land

Emaar has alleged that MGF's promoter Shravan Gupta and other associates are attempting to sell the land, valued over Rs 500 crore

Emaar India chief executive officer Ajay Munot steps down

Munot has resigned from the company to pursue his personal interest

Kumar Mangalam Birla gets UAE govt-backed ABLF Global Asian Award

Says his group hopes to play a part in making India emerge as an economic super power over the next decade

Emaar India posts net loss of Rs 230 bn in H1FY19 on higher expenses

The company said that the results are not comparable because of adoption of new accounting standards for revenue recognition

Emaar India to continue borrowing in FY18 despite Rs 500-cr debt

Firm's overall debt stands at over Rs 5,000 cr

Emaar India to deliver 11,000 flats by 2018 in Haryana

Prior to initiation of demerger, Emaar Properties held around 49% stake in Emaar MGF Land

Emaar India appoints Snapdeal's Jason Kothari as independent director

Realty firm Emaar India has appointed Snapdeal's Chief Strategy and Investment Officer Jason Kothari as independent director to strengthen its board and complete all its ongoing projects. It has also roped in Khaitan & Co partner Sudip Mullick as independent director on the board. Dubai-based Emaar Properties, which entered the Indian real estate market in 2005 in partnership with India's MGF Development, had in April last year decided to end the joint venture through demerger. Emaar had invested Rs 8,500 crore through this JV firm Emaar MGF Land. Emaar India has appointed Kothari and Mullick as company's independent director, sources said. When contacted, Emaar India spokesperson confirmed the development. "We at Emaar India, under the leadership of Emaar Dubai, believe that good corporate governance is essential for an organisation and leads to value creation for all its stakeholders," a company spokesperson said. "In order to meet such objective, the company has recently .

Emaar India to invest Rs 2,000 cr in 2yrs to complete projects

The company has about 50 ongoing projects in Gurgaon, Jaipur, Lucknow, Mohali and Chennai