Page 7 - Real Estate Firms

Sumadhura enters coworking business with 1.3 lakh sq ft centre in Bengaluru

Realty firm Sumadhura Group has forayed into the co-working business with the opening of its first centre in Bengaluru, covering 1.3 lakh square feet area, as it sees huge demand for managed flexible workspaces from corporates. In a statement on Tuesday, Bengaluru-based Sumadhura Group said it has set up a separate vertical 'workship' to provide premium managed office spaces to corporates. "We have already opened our first centre in Bengaluru and the plan is to add 3 more centres this fiscal with a total portfolio of 5 lakh sq ft area," said Madhusudhan G, Chairman & Managing Director of Sumadhura Group. He said the workship will take office space on lease from the parent firm Sumadhura Group as well as from other builders. In the first centre, Madhusudhan G said the company is providing workspaces at around Rs 15,000 per desk. The first centre is located within Sumadhura's commercial complex - Capitol Towers- in Whitefield, Bengaluru. "India is witnessing a significant shift in

Century Real Estate raises Rs 1,850 cr debt to fund existing, new projects

Century Real Estate has raised Rs 1,850 crore debt to expand its business and encash strong demand for properties. The company will use this fund in both ongoing and upcoming housing and commercial projects. In a statement on Thursday, Bengaluru-based Century Real Estate said it has secured "Rs 1,850 crore in debt funding, led by Ares Asia and SC Lowy". The fund will help in driving the company's expansion strategy and supporting both new and existing projects in Bengaluru. The funding round was spearheaded by Ares Asia, which invested Rs 1,600 crore in two tranches, while SC Lowy contributed Rs 250 crore to support the development of residential and Grade A commercial spaces. Ravindra Pai, Managing Director, Century Real Estate, said, "Securing Rs 1,850 crore in funding is a testament to the trust our financial partners place in Century Real Estate's vision and execution." With Bengaluru's real estate market witnessing strong demand for both residential and Grade A commercial sp

Real estate stakeholders turn cautious amid global uncertainty: Report

Knight Frank-Naredco Q1 2025 report shows real estate sentiment index dipped amid global volatility, though office market and premium housing stay resilient

Signature Global Q4 results: Net profit rises 48%, revenue down 25%

Realty firm Signature Global saw a record ₹10,290 crore in FY25 pre-sales despite a Q4 revenue decline caused by project launch delays due to pending approvals

Here's why Puravankara share price soared 10% on May 12; details

The uptick in Puravankara share price came after the company announced a joint venture (JV) with KVN Property Holdings LLP, to develop a 24.59-acre land parcel in North Bengaluru.

Prestige Estates to invest Rs 10K cr in 62 acre Ghaziabad township project

Realty firm Prestige Estates Projects Ltd will invest around Rs 10,000 crore over the next six years to develop a 62.5 acre township at Ghaziabad, Uttar Pradesh as it remains bullish on housing demand in Delhi-NCR market. On April 29, Bengaluru-based Prestige Group announced its entry into Delhi-NCR's residential market. It is already developing a commercial project at Delhi's Aerocity comprising hotels and office spaces. "We have entered into Delhi-NCR's housing market with our first project 'Prestige City, Indirapuram'. We want to rewrite the way real estate is done in this region. We do not want to be the biggest but definitely the best developer in the NCR market," Prestige Estates Chairman and Managing Director Irfan Razack told reporters here. He said the company will focus on quality with timely delivery, which has been a problematic issue in the Delhi-NCR property market. Razack said the company will develop around 10 million square feet area, comprising 4,041 homes and aro

Hyderabad holds max vacant office space at 284 lakh sq ft: Vestian

Hyderabad has maximum vacancy in office space at 284 lakh sq ft among seven major cities amid strong supply in last few years, according to real estate consultant Vestian. As per the Vestian data as of March 2025, Hyderabad has a total office stock of 1,620 lakh square feet, of which 284 lakh sq ft or 17.5 per cent area is vacant and yet to be rented out to corporates. The vacancy in Hyderabad came down to 17.5 per cent from 19 per cent as no fresh supply came into the market during January-March period of this year. After Hyderabad, the consultant data showed that Delhi-NCR has vacant office space of 232 lakh sq ft out of total office stock of 1,364 lakh sq ft. The vacancy rate in Delhi-NCR is 17 per cent. Bengaluru, the country's most prominent office market, has a stock of 2,805 lakh square feet and out of that 7.5 per cent or 210 lakh sq ft is vacant. In Chennai, the office vacancy is 7.1 per cent. The total office space stock is 843 lakh sq ft and 60 lakh sq ft is vacant. Of

Aurum PropTech appoints Ashish Deora as non-executive director on board

Aurum PropTech Ltd has appointed Ashish Deora as a non-executive director in the company. In a regulatory filing on Tuesday, Mumbai-based Aurum PropTech informed that its board has approved appointment of Deora, who is the founder and CEO of the company's parent entity Aurum Ventures as a Non-Executive Director. Commenting on the appointment, Deora said, "India PropTech sector represents a USD 100 billion opportunity across consumer tech, enterprise tech and fintech offerings." Since its inception in April 2021, he said the company has strategically combined organic and inorganic routes to grow its business. "As Aurum PropTech continues its journey toward achieving Rs 1,000 crore in revenue, fuelled by our rental, distribution, and capital offerings, I am excited to witness the technology-driven transformation of real estate, making it truly future-ready," said Deora, an alumnus of Harvard Business School. Over the last three decades, Aurum Ventures has entered into various ...

Rainforests and AI assistants: Luxury homes just got more exclusive

Rainforests, swimming pool theaters, artificial beach fronts, wine cellars, wellness areas, AI & smart tech in luxury projects

Bhartiya Group launches new venture, to serve as GCC enablement platform

Group launches Bhartiya Converge, to open offices in US and Europe

Lodha signs development agreement for 20,468 sqm plot in Pune's Wakad

A stamp duty of Rs 8.26 crore was paid by Macrotech for the deal, which was registered in March 2025

Sumadhura Group to invest ₹250 cr in 4 years for Bengaluru housing project

Realty firm Sumadhura Group will invest Rs 250 crore to develop a housing project in Bengaluru. In a statement on Tuesday, the company said it has entered South Bengaluru with the launch of project 'Codename Uru' located in Kenchanhalli. Spread over 3.25 acres of land, this landmark project is expected to generate a topline of Rs 500 crore. The project, which is expected to be completed by December 2029, will have 297 homes across two towers of 28 floors each. The company will invest about Rs 250 crore over the next four years to develop this housing project. Madhusudhan G, Chairman & Managing Director of Sumadhura Group, said: "South Bengaluru has emerged as a vibrant growth corridor...we see this expansion as a natural step in our vision to create strategically developed and lifestyle-focused communities across Bengaluru." In the past 30 years, the company has delivered 54 projects comprising over 130 lakh square feet, and up to 400 lakh square feet area is in the pipeline. The

Arkade Developers Q4 sales bookings up 11% at Rs 217 cr; FY25 rises 20%

Realty firm Arkade Developers Ltd on Tuesday reported an 11 per cent rise in sales bookings to Rs 217 crore for the latest quarter ended March. Its sales bookings stood at Rs 196 crore in the year-ago period. "During 2024-25, Arkade Developers achieved robust pre-sales (sales bookings) of Rs 773 crore, marking a 19.8 per cent increase from Rs 645 crore in the previous year. This growth reflects the continued demand for the residential portfolio of Arkade in the Mumbai region," the company said in a regulatory filing. The amount collected from customers stood at Rs 716 crore in the last fiscal, up by 21.8 per cent when compared to the preceding year. Mumbai-based Arkade sold 2,49,000 sq ft in 2024-25 compared to 2,03,000 sq ft in the preceding year, recording a 22.7 per cent annual growth. Arkade Developers Chairman and Managing Director Amit Jain said, "FY25 was a year of consistent performance and robust momentum. With a sharp focus on timely execution, sales velocity and custome

Anant Raj Q4 results: Profit up 51% at ₹118.64 cr, revenue grows to ₹551 cr

Realty firm Anant Raj Ltd has reported a 51 per cent increase in consolidated net profit to Rs 118.64 crore for the fourth quarter of the last financial year. Its net profit stood at Rs 78.33 crore in the year-ago period. Total income rose to Rs 550.90 crore in the January-March period of 2024-25 fiscal year, from Rs 453.12 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday. During the last fiscal, the net profit increased to Rs 425.54 crore, from Rs 260.91 crore in the 2023-24 fiscal. The total income grew to Rs 2,100.28 crore in 2024-25, from Rs 1,520.74 crore in the preceding year. Delhi-based Anant Raj Ltd has developed many real estate projects, primarily in North India. It develops housing, commercial and data centre projects.

Brigade Enterprises aims ₹175 cr revenue from 20 acre project in Bengaluru

Realty firm Brigade Enterprises Ltd will develop a 20-acre project, comprising residential plots, in Bengaluru with an estimated revenue of Rs 175 crore. In a regulatory filing on Monday, the company said it has signed a joint development agreement (JDA) for a plotted development project in Malur, East Bengaluru. "... The project has a gross development value (GDV) of approximately Rs 175 crore and a total development potential of 0.45 million square feet," it said. The company did not mention the name of the landowner with whom it has signed the JDA. "We continue to identify high-potential land parcels that align with our long-term vision of creating well planned communities with a focus on quality, sustainability, and innovation," Pavitra Shankar, Managing Director, Brigade Enterprises, said. Malur, with its strategic location along the Satellite Town Ring Road (STRR) and Chennai Expressway, is emerging as an attractive residential destination, offering seamless connectivity to

Real estate institutional investments in Q1 CY25 up 47% at $0.81 bn: Report

Foreign and domestic companies show 'increased commitment to long-term investments'

Kolte-Patil Q4 sale bookings fall 15% to Rs 631 crore on lower volumes

Realty firm Kolte-Patil Developers Ltd's sale bookings declined 15 per cent to Rs 631 crore in the fourth quarter of last fiscal on lower volumes. Its sale bookings stood at Rs 743 crore in the year-ago period. Sale bookings in volume terms fell 23 per cent to 0.8 million square feet during January-March quarter of 2024-25 from 1.03 million sq ft in the corresponding period of the preceding year, according to a regulatory filing on Thursday. During the full 2024-25 fiscal, Kolte-Patil Developers Ltd fell marginally by 1 per cent to Rs 2,791 crore from Rs 2,822 crore in the preceding fiscal. Sales volume declined 8 per cent to 3.60 million square feet from 3.92 million square feet, but average realisation rose 8 per cent to Rs 7,758 from Rs 7,193 per square feet. Pune-based Kolte-Patil Developers Ltd is one of the leading real estate firms in the country. Atul Bohra, Group CEO of Kolte-Patil Developers, said, "During FY25, we recorded milestone collections of Rs 2,432 crore, reinfo

Housing sales down 19% on high prices; supply drops 10% in 8 cities

Housing sales declined 19 per cent annually in January-March across eight major cities to 98,095 units on high prices and lower launches, according to PropTiger. Real estate consultant PropTiger, which is part of REA India that also owns Housing.com, on Wednesday noted that rising property prices and slowing growth forced buyers to exercise caution. In its report 'Real Insight', PropTiger also mentioned that new supply dropped 10 per cent in the first quarter of the calendar year, as developers adjusted with the market situation. "The huge spike in prices had already started to show its adverse impact on sales. With a global trade war now bringing new uncertainty, it is only natural for buyers to adopt a cautious approach to investment, particularly in something so big as real estate," said Dhruv Agarwala, Group Chief Executive Officer, Housing.com and PropTiger. As per the PropTiger data, housing sales in Ahmedabad fell 17 per cent to 10,730 units in January-March from 12,915 unit

Branded residences, resorts in India to hit $1 bn by 2027: Fine Acers

The market size of branded residences and resorts will reach USD 1 billion by 2027, luxury resort developer Fine Acres said on Tuesday. The market is expected to grow at 11-12 per cent in 2025-26 and 15 per cent by 2030, Fine Acres said in a statement. Domestic leisure and business travel will continue to be the primary demand driver while growing traction in the MICE (meetings, incentives, conventions and exhibitions) segment and pickup in foreign tourist arrivals will provide additional fillip, it added. The branded hotels segment registered a strong 17 per cent growth in the last fiscal. To meet the increasing demand, the pace of room additions, which has increased since last fiscal, is expected to pick up further and majorly through the asset-light management contract route, it stated. According to Fine Acers, the branded residences market is growing at 11 per cent YoY. However, a positive economic trend, urban affluence and demand for lifestyle investment properties are expec

Unsold affordable units drop 19% in top 7 cities in Q1CY25, bucking slump

Luxury segment sees 24% surge in unsold units over robust supply, inventory pile-up