Page 11 - Real Estate Firms

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

Macrotech Developers raises stake in 3 warehousing firms for Rs 239.56 cr

Macrotech Developers has increased its stake in three warehousing companies by buying out shares of Ivanhoe Warehousing India Inc. in these firms for Rs 239.56 crore. The share acquisition in the three firms would help Macrotech Developers in increasing its rental income. In a regulatory filing, the company said it has executed Securities Purchase Agreements (SPAs) with Ivanhoe Warehousing India Inc in this regard. It has increased its stake in "Digital Infrastructure Platform entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), in entirety at a consideration of Rs 239.56 crore, the filing added. The company's interest post the above acquisition in Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd would increase to 70 per cent, 66.67 per cent and 66.67 per cent, respectively, it added. Macrotech ...

Arkade Developers IPO gets subscribed 106.40 times on offer's last day

The initial share sale of Arkade Developers got subscribed 106.40 times on the last day of the offer on Thursday. The Rs 410-crore initial share sale received bids for 2,52,97,38,200 shares against 2,37,75,719 shares on offer, according to data available with the NSE. Qualified institutional buyers subscribed the offer 163.16 times while the quota for non-institutional investors fetched 162.75 times subscription. The portion for retail individual investors received 50.65 times subscription. The initial public offering (IPO) of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. The realty firm has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore IPO, which is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (OFS) component. Proceeds from the issue will be used for the development of the ..

Landmark Group to invest Rs 4,200 cr in 2 yrs for projects in Delhi-NCR

Realty firm Landmark Group will invest Rs 4,200 crore to develop a new housing and commercial project in Delhi-NCR as part of its expansion plan. In a statement, Gurugram-based Landmark Group said it is gearing up to expand its business portfolio with the robust project pipeline. "The company is investing Rs 4,200 crore in the next two years to launch a mix of projects in the luxury housing, retail, and commercial segments," it added. Landmark Group said its upcoming projects are located in micro-markets of Gurugram like Dwarka Expressway and New Gurugram. Sandeep Chhillar, Chairman & Founder of Landmark Group, said, "The real estate sector is flourishing and Gurugram's realty market growth has been impressive over the last couple of years." "Gurugram and its micro-markets continue to be the preferred investment destination for investors and buyers across residential, retail, and commercial segments. With our expansion plan, we aim to cater to the burgeoning demand in the region .

ICICI Securities raises Signature Global target price, sees 35% upside

Following the boost in its target price, Signature Global share gained 1.77% intraday. The price hike was attributed to its strong project portfolio and its scope for expansion beyond Gurugram.

Buy Macrotech & Sunteck; Hold Oberoi Realty & Godrej Prop, suggests Nuvama

The analysts believe that factors like healthy leverage, an increased focus on business development, and the potential for interest rate cuts will boost sales in the city.

Omaxe Group to invest Rs 2,500 cr to build 50-acre complex in Delhi

Realty firm Omaxe Group will invest Rs 2,500 crore to develop a 50-acre commercial-cum-sports complex at Dwarka in the national capital to expand its business. In a statement, Omaxe said it has launched the commercial project 'The Omaxe State' comprising sports complex, retail area and a hotel. The company will build a cricket-cum-football stadium of global standards apart from indoor games facilities. Spanning over 50.4 acre in Dwarka Sector 19-B, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment of over Rs 2,500 crore. "Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a world-class cricket stadium," the company said. The project will feature a world-class, modern ICC and FIFA-standard international cricket-cum-football stadium with a seating capacity of over 30,000, as well as an international multi-sports indoor stadium that can accommo

Godrej Properties tops among 21 realty cos with Q1 sales worth Rs 35k cr

India's 21 major listed real estate developers have together sold properties worth nearly Rs 35,000 crore during the latest June quarter with Godrej Properties reporting highest sale bookings. Except few, all major listed real estate developers have shown annual growth in sale bookings in the April-June quarter driven by strong consumer demand for residential properties, especially of luxury homes. According to the data compiled from regulatory filings, India's 21 major listed realty firms have reported combined sale bookings of Rs 34,927.5 crore in the first quarter of 2024-25 fiscal. Out of these combined sale bookings, bulk of pre-sales came from residential segment. In terms of sale bookings, Godrej Properties emerged as the largest listed player in the June quarter with pre-sales of Rs 8,637 crore. DLF Ltd, the country's largest realty firm in terms of market capitalisation, reported more than three-fold jump in its sale bookings at Rs 6,404 crore in the first quarter of this

Shriram Properties to focus on mid-segments; eyes doubling annual sales

Shriram Properties Ltd, the real estate division of the diversified conglomerate Shriram Group, would focus predominantly on medium housing segments as it aims to double sales volume, triple revenues over the next three years, a top official said on Friday. The company has rolled out a new brand identity SPLNxT (referring to Shriram Properties Ltd Next) which aims to transform the perception of Shriram Properties Ltd, elevating brand image, Executive Director and Group CEO Gopalakrishnan said here. The year 2024 also marks the silver jubilee year for the real estate entity and has completed over 42 projects across key cities. It has another 42 new projects in the pipeline, he said. Gopalakrishnan along with Shriram Properties Ltd Chairman and Managing Director Murali M and senior officials were here to announce the company's plans over the next three years. "As an integral part of SPLNxT, we are embarking on a mission that looks to double (sales) volume, triple income and quadruple

Industry came forward for rules on small, medium Reits, says Sebi chief

Sebi chief Madhabi Puri Buch on Thursday said there has been a positive response to small and medium REITs (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (Sebi) implemented regulations for small and medium real estate investment trusts (SM REITs) aimed at significantly increasing investor interest in fractional ownership of real estate assets. Speaking at the Global Fintech Fest 2024, Buch spoke about compliances and the role of the regulator and said that industry players came forward for regulations on small and medium REITs. The remarks by the Sebi chairperson came days after the US short-seller Hindenburg Research alleged that recent amendments to Sebi's REIT Regulations 2014 were made to benefit a specific multinational financial conglomerate. However, the markets regulator had stated that Sebi (REIT) Regulations, 2014 has been amended from time to time. Also, Hindenburg

Global Real Estate Transparency Index 2024: India ranks 31; UK leads list

India's tier-I real estate markets have entered into the 'transparent' zone for the first time, driven by institutionalisation of commercial assets and improvement in access to diverse real estate dat

Tribeca picks 4 Indian cities for Trump Towers in FY26, seeks new deals

The company has targeted Mumbai, Pune, Gurugram, and Hyderabad as the new locations for Trump Towers in India