Page 17 - Real Estate Firms

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

77% of investment in Indian real estate in 2019-23 by foreigners: Report

Global investors have 'consistently infused' average of $4 bn annually in the last five years, it says

Signature Global to invest over Rs 1,200 cr/year to boost housing projects

Realty firm Signature Global will invest Rs 1,000-1200 crore per year to purchase land for the development of housing projects and encash strong consumer demand, its Chairman Pradeep Aggarwal has said. In an interview with PTI, he highlighted that housing demand has been very strong in the past two years across all segments, be it affordable, mid-income, premium, luxury or super luxury. Aggarwal expects the demand momentum to sustain on better economic growth. "We will be investing Rs 1,000-1200 crore every year for outright purchase of land to achieve our growth plan," Aggarwal said. Apart from outright land acquisition, he said the company would also be open to partnership with landlords for the development of housing projects. "We will continue to focus on the Gurugram property market for short to medium term," he said. On sales bookings, Aggarwal said the company is expecting to reach around Rs 7,200 crore this fiscal against Rs 3,430 crore in the previous financial ...

Retirement societies spread in cities as elderly seek care and company

As India ages, the market to serve the elderly is expected to be worth almost $18 bn in five years

Builders bought 415 acres in Delhi-NCR for Rs 9,120 crore: Report

Real estate developers bought 415 acres of land in Delhi-NCR for about Rs 9,120 crore last year to build housing and commercial projects amid rising demand, according to JLL. In a statement on Tuesday, real estate consultant JLL India highlighted that "Delhi-NCR led both in terms of number and area of land deals, with 415 acres acquired across 36 separate transactions valued at approximately Rs 9,120 crore." Of these 415 acres, around 264 acres (64 per cent) valued over Rs 5,300 crore were acquired in Gurugram. This was followed by Noida with over 59 acres (14 per cent) land being acquired at Rs 1,775 crore. Delhi, Faridabad, and Sonipat contributed the rest. JLL India has not included Joint Development Agreements (JDAs) in this analysis and only outright purchases by real estate developers have been considered. With rising property demand, the consultant noted that real estate developers are building a robust supply pipeline by investing in acquisition of land across the country.

Brigade Q3 results: Profit up 31% on strong growth in residential segment

In the real estate segment, Brigade achieved its strongest performance ever for Q3 of a financial year with sales of 1.7 million square feet with a sale value of Rs 1,524 crore

Shapoorji Pallonji Real Estate eyes Rs 250 cr revenue from new project

Shapoorji Pallonji Real Estate is expecting over Rs 250 crore revenue from its new housing project in Mumbai and has raised Rs 55 crore to finance the development. In a statement, the company said WSB Real Estate Debt Fund II (WSBREDF II) has invested Rs 55 crore in its premium project 'BKC 9' at Bandra East, Mumbai. The project is a collaborative effort between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Buildcon Private Ltd. (VBPL). The company anticipates revenue exceeding Rs 250 crore from this project, it said. "The WSBREDF-II fund has committed an investment of Rs 55 crore to complete the premium project, BKC 9," it said. The project, spread over nearly half acre of land, has 92 apartments. The price of the apartments starts at Rs 2.11 crore. Nirav Dalal, Business Head and Chief Investment Officer, Shapoorji Pallonji Real Estate, said, "Our collaboration with WSB Partners reinforces our dedication to delivering innovative and top-tier developments that redefine th

Strata acquires Bengaluru's iconic CCD headquarters for about Rs 150 crore

"We are thrilled to unveil the CCD Square, a grade-one commercial property that embodies our commitment to excellence and innovation," said Sudarshan Lodha, Co-founder and CEO, Strata

BNP Paribas net income falls 50%, misses earnings forecast in Q4

BNP's group sales in the fourth quarter were up 0.1% to 10.9 billion euros, below the 11.4 billion-euro average analyst estimate

Aparna Constructions to invest Rs 2,425 cr in 2 new Hyderabad projects

Realty firm Aparna Constructions and Estates on Tuesday said it will invest Rs 2,425 crore to develop two housing projects in Hyderabad. The two projects will have more than 2,500 apartments, offering individual unit sizes ranging from approximately 1,475 sq. ft. to 3,700 sq. ft. In a statement, the company said it has launched "two gated community apartment projects in Hyderabad, Aparna Newlands and Aparna Sarovar Towers, with a combined investment of Rs 2,425 crore." The project -- Aparna Newlands -- will be spread over 14 acres totalling 1,976 units, while the 5-acre Aparna Sarovar Towers project will have 585 units. Aparna Constructions, a division of the Aparna Group, is one of the largest real estate developers in South India. The company was founded by S S Reddy and C V Reddy in 1996. It has a portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces across Telangana, Andhra Pradesh and Karnataka. According to a recent report

Real estate sector in the middle of a growth cycle: Motilal Oswal

Despite the price hikes, affordability improved across markets as income growth surpassed pricing growth, which should keep momentum intact in demand and pricing, the report stated

Weaker than expected bookings in Q3, valuations to weigh on Oberoi Realty

While this was up 25 per cent as compared to the year-ago quarter, it was down 18 per cent on a sequential basis despite a new launch

Jamshyd Godrej resigns as non-executive director of Godrej Properties

Realty firm Godrej Properties on Tuesday said that Jamshyd Godrej has resigned as the non-executive director with effect from January 24, having attained the age of 75 years. The effective date of resignation is January 24. In a regulatory filing, Godrej Properties informed that "Jamshyd Godrej, Non- Executive Non-Independent Director of the company has tendered his resignation from directorship of the company, having attained the age of 75 years, with effect from January 24, 2024". The Board of Directors of the company have taken note of resignation of directorship of Jamshyd Godrej, who is member of the Godrej family. "The Board of Directors places on record its appreciation for the valuable contribution, guidance and support provided by him during his association of over 33 years as the 'Director' of the company," the filing said. He has been serving as the director of the company since April 25, 1990. Mumbai-based Godrej Properties is one of the leading real estate developers

Global investments in Indian real estate sector dip due to high inflation

India's real estate market has been an attractive destination for global investors, particularly from the US, since 2006

Oberoi Realty reported 49% decline in Q3 net profit at Rs 360.15 cr

Oberoi Realty Ltd on Monday reported a 49 per cent decline in consolidated net profit to Rs 360.15 crore for the December quarter. Its net profit stood at Rs 702.57 crore in the year-ago period. The company's total income also fell to Rs 1,082.85 crore in the third quarter of the current fiscal from Rs 1,651.50 crore a year ago, according to a regulatory filing. Mumbai-based Oberoi Realty is one of the leading real estate firms in the country. In a separate filing, Oberoi Realty said it has achieved "gross bookings of Rs 882 crore during the launch of its new tower in Elysian at Oberoi Garden City, Goregaon, Mumbai".

Shapoorji Pallonji Real Estate expects Rs 600 cr from 276 luxury homes

Realty firm Shapoorji Pallonji Real Estate (SPRE) on Thursday launched 276 luxury homes in Pune with an estimated sales value of around Rs 600 crore. In a statement, the company said it has launched the second phase of its project 'Golfland' which is part of a large township 'VANAHA' near Bavdhan, West Pune. "With an estimated revenue potential of Rs 600 crore, the second phase of Golfland responds to the growing demand for upscale residences in Pune," SPRE said. The project will have 276 homes, available to buyers at prices starting at Rs 1.48 crore. In the first phase, the company had launched 276 homes. The township 'VANAHA', spread over 1,000 acres, is a mixed-use development comprising residential, commercial, and retail spaces. To date, the company has sold over 1,800 apartments in this township worth Rs 1,500 crores across mid-segment (Yahavi and Springs) and premium developments (Golfland phase 1). Nirav Dalal, Business Head and Chief Investment Officer, SPRE, said,"The

Real estate players deploy AI, plug into AR and VR tech to boost sales

"Anarock used its AI/ML proptech solution ASTRA to boost primary housing sales by up to 15 per cent," says Anuj Puri, chairman, Anarock group

Book profit in realty stocks as rally may hit valuation hurdle: Analysts

Investors holding the stocks could partially book profit; new investors should wait for correction to enter the pack

NAREDCO plans event to showcase real estate opportunities in Ayodhya

Real estate body NAREDCO on Friday said it plans to organise a builders' conference in Ayodhya to tap its commercial and residential opportunities as the holy city gears up to attract lakhs of tourists post inauguration of the Ram temple on January 22. National Real Estate Development Council (NAREDCO) National President G Hari Babu said there are opportunities to set up hotels, resorts and apartments in Ayodhya as the tourist flow would increase in the coming months. "The entire Indian real estate industry wants to look at Ayodhya ...We want to organise a conference in Ayodhya in the coming months in a big way and call a thousand builders there to showcase the commercial and residential opportunities," he told reporters. On expectations from Budget, Babu said NAREDCO has submitted a representation to the finance ministry seeking "Micro, Small and Medium Enterprises (MSME) status" for small builders and introduction of a scheme for those earning salaries up to Rs 40,000 per ...

Macrotech Developers reports 12% rise in sale bookings to Rs 3,410 cr in Q3

Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company has achieved its best ever third quarter pre-sales performance. MD & CEO Abhishek Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer's desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen." On the back of steady rise in income levels and ample job creation, this desire is translating into robust demand for high quality homes, he added. Lodha said this fundamental driver of demand has enabled the company to deliver its best ever Q3 pre-sales performance at Rs 3,410 ...