Page 10 - Real Estate Firms

Anant Raj stock zooms 6% on December 2; Emkay initiates coverage with 'Buy'

A combined total of nearly 1.22 million shares of the company worth approximately Rs 85.62 crore, have changed hands on both the NSE and BSE so far on Monday

Chennai to add 12-13 million sq ft of premium office space in 2025-26

Chennai is set to add about 12-13 million sq ft of premium office space between 2025 and 2026 following strong demand from corporates engaged in various sectors and industry, a report by real estate consulting firm CBRE South Asia Pvt Ltd has said. Currently, the city is home to about 250 Global Capability Centres (GCC) that employ over 1.50 lakh professionals, constituting about 11 per cent of the total GCC talent. The presence of Global Capability Centres in Chennai is expected to touch 460 units by 2030, it said. Strategic policies by the government including the Tamil Nadu Startup and Innovation Policy, Research and Development Policy, payroll subsidy programme for newly established GCCs are solidifying the city's role as a hub for innovation and talent, the study has revealed. The real estate consulting firm CBRE, recently, released the report 'Tamil Nadu: The Epicentre of Capability and Innovation Leadership' which highlights the city's rising prominence as a key destination f

Chennai-based real estate firm DRA to expand footprint to Pune, Bengaluru

DRA is expecting its revenue to touch Rs 500 crore this financial year and has set a target of Rs 1,000 crore by 2026-27

Co-working firm Incuspaze to raise Rs 210 cr to fund expansion, plans IPO

Stock listing in five years as corporate demand for flexible offices increases in cities

Signature Global to beat estimate of Rs 10,000 cr on high demand: Chairman

Realty firm Signature Global Ltd is likely to exceed its sales bookings target of Rs 10,000 crore on strong housing demand in Gurugram property market, its Chairman Pradeep Aggarwal said. In an interview with PTI, he highlighted that the company has achieved Rs 5,900 crore worth sales bookings in the first half of this fiscal. "We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal. We were among few listed real estate developers to set such a big target," Aggarwal said. Considering the strong performance in the first six months, he said, "We are quite hopeful of over-achieving of our annual guidance." There is a strong launch pipeline for the second half of this fiscal, he said, adding the inventories in new as well as existing projects would help in achieving the taret comfortably. Signature Global's sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the correspondin

Keystone Realtors Q2FY25 results: PAT jumps over 15-fold to Rs 65.55 cr

Realty firm Keystone Realtors Ltd on Monday reported a multi-fold jump in its consolidated net profit to Rs 65.55 crore in the September 2024 quarter. Its net profit stood at Rs 4.17 crore in the year-ago period. Total income, however, declined to Rs 556.22 crore in the second quarter of this fiscal from Rs 633.33 crore in the corresponding period of the preceding year, according to a regulatory filing. Total expenses also declined to Rs 465.09 crore from Rs 640.83 crore. Boman Irani, Chairman and Managing Director of Keystone Realtors Ltd, said, the company has demonstrated remarkable progress in terms of pre-sales, collections, new project additions and new launches so far this fiscal. "Building on the remarkable momentum from FY24, our pre-sales have soared to Rs 700 crore in Q2 FY25, which is more than doubled on a YoY (year-on-year) basis, a testament to our resilience and strategic vision," he said. Further, he added that the company has witnessed strong demand for its ...

Interarch Building Products plans to double turnover to Rs 2,500 cr by 2028

Interarch Building Products, a leading player in the pre-engineered building industry, is planning to double its turnover to Rs 2,500 crore by 2028, Managing Director Arvind Nanda has said. The company, which got listed recently, clocked a turnover of Rs 1,293 crore in FY24. Interarch Building Products, which raised Rs 600 crore through the initial public offering (IPO), is planning to use the proceeds for capital expenditures, system upgrades, and general corporate purposes. "In our existing three plants, we are also trying to enhance capacity by spending some money there and increasing the capacity utilisation," he said. He further said by building its fourth fully integrated plant in Andhra Pradesh, the company plans to further ramp up its capacity. "We have also bought land in Gujarat, which is going to be a our fifth fully integrated plant, probably starting next year," Nanda said. The company had in September announced the acquisition of 51,926 sq mt land in Gujarat, procur

DLF to invest Rs 8,000 crore to build super-luxury project in Gurugram

Realty major DLF will invest around Rs 8,000 crore to develop an ultra-luxury housing project in Gurugram as it seeks to encash strong demand for premium homes. Last month, DLF did a pre-launch of its 17-acre super-luxury housing project 'The Dahlias' at DLF 5, Gurugram, after obtaining all regulatory approvals and has received a good response from customers. The company will develop around 420 apartments in this project, which is the second ultra-luxury offering from DLF after the successful delivery of 'The Camellias'. According to sources, DLF will invest around Rs 8,000 crore over the next 4-5 years on the construction of this new project, comprising nearly 50 lakh square feet of area. In a conference call with analysts held recently, DLF's Managing Director Ashok Tyagi informed that the company is expecting Rs 26,000 crore in revenue from this new super-luxury project in Gurugram based on the current pre-launch price. "In RERA, what we have filed now is the revenue of Rs 26,0

Mahindra Lifespace incurs Rs 14 crore loss in Q2; pre-sales up 77%

The company, however, achieved pre-sales of Rs 397 crore for the quarter with a saleable area of 0.53 million square feet (msf) in the residential segment

Arkade Developers to launch residential & commercial projects, stock up 3%

The surge in Arkade Developers share price came after the company announced that it will launch a residential and commercial project, Arkade Rare - Bhandup, in Mumbai, on October 26

China's new home prices fall at fastest pace in Sept since May 2015

China is expected to raise 6 trillion yuan through special treasury bonds over the next three years to reinvigorate its struggling economy

A real estate hotspot: Everybody wants a 'piece' on Dwarka Expressway

For the coming years, the industry seems optimistic on their bet on the expressway

Signature Global net debt up 4% in Q2 to Rs 1,020 cr; eyes to tap demand

Realty firm Signature Global's net debt rose by 4 per cent in September quarter to Rs 1,020 crore as it looks to expand business amid strong consumer demand for housing properties. The company's net debt stood at Rs 980 crore at the end of June quarter FY25. Earlier this week, Signature Global reported that it has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the 'shradhh' period, Q2, FY25 pre-sales amounted to Rs 27.8 billion, a 184 per cent increase against Q2, FY24," Signature Global had said in a regulatory filing. The company's sale bookings jumped over threefold to Rs 5,900 crore in April-September 2024-25 from Rs 1,860 crore in the year-ago period. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in 2023-24 and has a target o

Hopes dashed but prudent approach: Realtors on unchanged repo rate

The industry experts believed that a rate cut would have helped the momentum to continue amid the festive quarter

Ashiana Housing bets on senior housing facilities to drive profit

Improving life expectancy is expected to drive the share of senior citizens in India's 1.43 billion population to 13 per cent by 2030 from 11 per cent currently, according to a Colliers report

Max Estates sells Rs 4,100 cr worth properties within 1 month in Gurugram

Realty firm Max Estates Ltd has sold residential properties worth Rs 4,100 crore in the last one month at its new project in Gurugram. Max Estates launched its first residential project in Gurugram named 'Estate 360' on August 27. "Within 30 days of the launch, Estate 360 has garnered a pre-sales booking value of around Rs 4,100 crore surpassing the guidance of around 4,000 crore provided by the company for FY'25," Max Estates said in a statement. With this successful launch, Max Estates has revised the guidance for the total Gross Development Value potential of this project to Rs 4,800 crore in FY25. The project is located at Sector 36A, Dwarka Expressway, Gurugram. The project will also have flats for seniors to be managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. Max Estates is the real estate arm of the Max Group.

Mt K Kapital raises over Rs 500 cr to invest in realty projects in Mumbai

Alternative investment fund Mt K Kapital on Wednesday said it has raised over Rs 500 crore to deploy in real estate projects in the Mumbai Metropolitan Region (MMR). In a statement, Mt K Kapital said it has raised Rs 500 crore for its maiden fund (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from investors like SBI, ICICI Bank, Famy Care and other HNIs. Over Rs 300 crore has already been committed towards five projects in the Mumbai region by Keystone Realtors (Rustomjee Group). The fund is now exercising its green shoe option and is targeting to do a final close shortly. Favourable macroeconomic conditions are likely to strengthen the real estate market and potentially drive expected IRRs (internal rate of returns) beyond 25 per cent, the company said. Mt K Kapital's core strategy targets quick turnaround residential projects with low equity investments and gives investors a share of project profits from redevelopment assets across Mumbai.

NBCC moves SC to complete stalled projects of realty major Supertech Ltd

The state-owned NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was hit due to financial crisis faced by the realty major which led to insolvency proceedings since 2021. A bench of Justices Sanjiv Khanna and Sanjay Kumar was told by advocate ML Lahoty, appearing for the hassled home buyers, that the National Buildings Construction Corporation Ltd (NBCC) has come forward with a proposal to complete these stalled projects having around 51,000 residential units. Senior advocate Gopal Jain, appearing for NBCC, said the public sector undertaking has filed an intervention application in a matter related to insolvency proceedings of Supertech Ltd to develop the stalled project on the lines of Amrapali

Indian real estate to grow to $10 trillion market by 2047: Report

Real estate gets institutional investments of over $60 billion in last decade, Colliers-CREDAI report

Wave Group plans launch of 9,000 flats in 'Wave City' project at Ghaziabad

Realty firm Wave Group plans to launch around 9,000 flats in its 4,200-acre township 'Wave City' at Ghaziabad to monetise its huge land bank amid strong housing demand. In a statement, Wave Group said it is planning to launch about 7 million square feet in the premium and affordable group housing categories in Wave City in the current fiscal ending March 2025. The investment to develop a 7 million square feet area and potential sales value were not disclosed. The company has already developed more than one-third of the township spread over around 4,200 acres in the last 10 years by way of plotted development and low-rise group housing complexes. "We will be launching a 7 million square feet area comprising 8,000-9,000 apartments," Rajiv Gupta, Managing Director of Wave City, said. "The buyers' demand for premium apartments in the township has sharply increased over the last 12 months. As a result, the price in the secondary market jumped by almost 30 per cent in the period," Gupta