Page 8 - Real Estate Firms

Atmosphere Realty clears Rs 218 crore debt from Marubeni Corporation

Atmosphere Realty Pvt Ltd has cleared Rs 218-crore debt from Japan's Marubeni Corporation through early redemption of debentures issued by the company. Atmosphere Realty is a joint venture of The Wadhwa Group (50 per cent stake), Man Infra Construction Ltd (30 per cent) and Chandak Realtors Pvt Ltd (20 per cent). In a statement on Wednesday, Atmosphere Realty said it has successfully completed the early redemption of its secured Non-Convertible Debentures (NCDs), much ahead of the scheduled maturity date. The debentures were originally set to mature on December 9, 2030, with a maximum tenor of 10 years. These NCDs were fully redeemed on March 24, 2025. Atmosphere Realty had issued 2,179 debentures at a face value of Rs 10 lakh each aggregating to Rs 217.9 crore on December 9, 2020. These NCDs were acquired by Marubeni Corporation. The early redemption was possible from healthy sales and internal accruals driven by the success of 'Atmosphere O2', a premium gated-community project .

DLF acquires nearly 50% stake in DLF Urban from GIC for Rs 497 crore

Real estate major DLF has acquired nearly 50 per cent stake in its arm DLF Urban Pvt Ltd from Singapore-based GIC for Rs 497 crore. With this deal, DLF will have 100 per cent stake in DLF Urban Pvt Ltd, which has already completed a luxury housing project in the national capital. DLF's wholly-owned subsidiary DLF Home Developers Ltd (DHDL) has "acquired 49.997 per cent of the total paid-up equity share capital and compulsorily convertible debentures held by Reco Greens Pte Ltd in DLF Urban Pvt Ltd, a subsidiary of DHDL." Reco Greens Pte Ltd is a subsidiary of Singapore sovereign wealth GIC. A Securities Purchase Agreement was executed on March 25, 2025 amongst DHDL, Reco and DLF Urban Pvt Ltd (DUPL), DLF said in a regulatory filing on Tuesday. Post this acquisition, the holding of DHDL in the share capital of DUPL has increased from 50.003 per cent to 100 per cent. Consequently, DUPL has become a wholly-owned subsidiary of DHDL and also of DLF Ltd. The cost of acquisition stood a

Omaxe to invest Rs 400 cr to develop 2 commercial projects in Faridabad

Real estate company Omaxe will invest Rs 400 crore to develop two new commercial projects in Faridabad, Haryana, to expand its business. The two new projects will be part of its 120-acre mixed-use development named 'World Street by Omaxe'. The first commercial project New Singapore is spread over 11.6 acre, comprising 15 lakh square feet of area largely retail spaces, while the other project Clarkee, covering nearly 2 acre, will be developed as party and nightlife destination. The projects are expected to be completed by 2029. The total estimated cost to build these two projects is over Rs 400 crore, Omaxe said, adding that this will be funded through internal accruals. The company has launched around 700 units so far. The rates in these two projects range between Rs 4,000 per square feet to Rs 10,000 per square feet. Designed as Faridabad's ultimate nightlife destination, Clarkee will host 15+ nightclubs, bars, and restaurants. Omaxe Group Managing Director Mohit Goel said, "T

Signature Global acquires 8.39 acre land in Gurugram for Rs 282 crore

Real estate firm Signature Global (India) Ltd has acquired 8.39 acres of land in Gurugram for Rs 282 crore to develop a housing project and is expecting a revenue of around Rs 3,200 crore. In a statement on Friday, the company said it has "acquired 8.39 acre land at Sector 37D, Gurugram, Haryana, at a cost of Rs 282.42 crore". The overall development potential of this land is about 20 lakh square feet. The company intends to launch the project on this land parcel by the end of the next financial year (2025-26) and expects total revenue of around Rs 3,200 crore, Signature Global said. On the development, Pradeep Aggarwal, Founder & Chairman of Signature Global, said, "Gurugram's housing market has experienced exceptional growth in recent years, with Dwarka Expressway emerging as India's fastest-growing real estate corridor." "Given the success of our past projects, we are confident that our upcoming development in this sector will receive an overwhelming response upon launch," he .

Signature Global shares zoom 8% on acquiring 8.38-acre land in Gurugram

The rise came after the company said that it has acquired 8.39 acres of land at Sector 37D, Gurugram, Haryana, near Dwarka Expressway at a cost of ₹282.42 crore

MICL launches Avaan Tower 2, pegs success on tallest tower in country

Manan Shah, MD at MICL, said that the project will offer 3, 4, and 5 BHK ultra-luxury residences, ranging from 1,300 to 3,282 sq ft carpet area, priced between Rs 24 crore and Rs 35 crore

Aditya Birla Real Estate gains 5% after arm launches residential project

The surge in the Aditya Birla Real Estate share price came after the company said its wholly-owned subsidiary, Birla Estates Private Limited, has launched a residential unit, Birla Punya, in Pune

Indian developers buy land parcels worth Rs 39,700 crore in 2024: JLL

Investments of about Rs 62,328 crore will be needed to develop these land parcels

NCLT approves resolution plan for Universal Buildwell's stalled projects

It is one of the most complicated cases, involving multiple projects in prime locations in Faridabad and Gurugram and more than 1,000 homebuyers

Here's why Brigade Enterprises share price jumped 4% in trade on March 7

The surge in Brigade Enterprises share came after the company launched a residential project 'Brigade Altius' in Chennai with a revenue potential of Rs 1,700 crore

India's differentiator in realty is vibrant work ecosystem: Neil Murray

Murray shared his insights on the country's growing commercial real estate sector

Arkade Developers aims for Rs 740 cr from redevelopment project in Mumbai

Real estate company Arkade Developers on Wednesday said it has bagged redevelopment rights for a co-operative housing society in Mumbai and it is expecting Rs 740 crore revenue from this upcoming residential project. In a regulatory filing, the company informed that it has "secured the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West, marking another milestone in its strategic expansion across Mumbai's prime micro-markets." The project, spanning 6,858.90 square metres, is expected to generate a Gross Development Value (GDV) of about Rs 740 crore. The total saleable RERA carpet area is 2.33 lakh square feet. Upon completion, the project will offer 408 homes, out of which about 215 units will be available for sale, further expanding its residential and commercial footprint. Amit Jain, Chairman and Managing Director of Arkade Developers, said, "Aligned with our broader vision, we aim to capitalise on high-growth micro-markets through redevelopment, .

Nexus Select Trust acquires Vega City Mall in Bengaluru for Rs 913 crore

This is Nexus Select's fourth mall acquisition in Bengaluru, making it the largest retail platform in the city in terms of the number of malls

Arkade Developers bags cluster redevelopment project with GDV of Rs 1.7k cr

The project will offer a total saleable area of approximately 6.76 lakh square feet

Arkade Developers share price rises nearly 8% from lows on new order win

Stock Markets Today: Arkade Developers has acquired a 6.5-acre land parcel for the cluster redevelopment of Anand Nagar Society in Dahisar East

Keystone Realtors Q3 results: Net profit falls 50% to Rs 15.07 crore

Keystone Realtors Ltd on Tuesday said its consolidated net profit declined by half to Rs 15.07 crore in the quarter ended December 31, 2024. Its net profit stood at Rs 30.22 crore in the year-ago period. Total income also declined to Rs 485.82 crore in the third quarter of this fiscal from Rs 533.33 crore in the corresponding period of the preceding year, according to a regulatory filing. Incorporated in 1995, Keystone Realtors Limited is one of the leading real estate developers in the country. The company has a substantial portfolio of projects spanning the Mumbai Metropolitan Region (MMR), with 36 completed projects, 15 ongoing projects and 26 forthcoming projects that cover all price points from affordable to super premium. So far, the company has delivered over 25 million square feet of construction area, with a pipeline of over 44 million square feet in the works.

Smartworld Developers awards Rs 532 cr contract to Varindera Constructions

Real estate company Smartworld Developers has awarded Rs 532 crore contract to Varindera Constructions for its upcoming project in Gurugram. In a statement on Monday, the company said it has awarded contracts worth about Rs 1,400 crore for its various projects in just six months. "For its upcoming iconic project, Smartworld Sky Arc, the company has awarded the construction mandate to Varindera Constructions Limited for Rs 532 crore. "The project spans 6.9 acres and includes over 900 units in its first phase. Smartworld's total investment in the development of Sky Arc is approximately Rs 1,700 crore," it said. Varindera Construction has a good track record in the construction sector, Vivek Singhal, CEO of Smartworld Developers, said. Incorporated in 2021, Smartworld Developers, which is part of M3m India Group, is developing many projects in Gurugram. It aims to deliver possession of about 50 lakh square feet in the next few months.

Elan Group to invest Rs 3,000 cr for building housing project in Gurugram

Real estate company Elan Group on Tuesday said it will invest around Rs 3,000 crore to develop a new ultra-luxury housing project on Dwarka Expressway, Gurugram. The project 'Elan The Emperor', located in Sector 106, Gurugram, is a part of 50-plus acres township comprising residential apartments, branded residences, a high-end mall, a luxury 5-star hotel, and premium office spaces. In a statement, the company said the total investment to develop this project is Rs 3,000 crore. The new project will have nearly 600 units with a saleable area of around 29 lakh square feet. This will be the second project in this township. "Sector 106 along the Dwarka Expressway is rapidly becoming the newest focal point of Gurugram's urban transformation," Vineet Dawar, President - Sales & Strategy at Elan Group, said. Elan Group has on-boarded internationally acclaimed consultants to develop this project. SWA, a landscaping architect from the US, will create outdoor spaces while UHA London serves as

Mindspace REIT buys commercial asset in Hyderabad for Rs 2,038 crore

Property in city central business district will 'enhance portfolio', says Mindspace

Brigade Enterprises Q3 result: Net profit rises threefold to Rs 236 cr

Realty firm Brigade Enterprises on Wednesday reported a more than three-fold jump in its consolidated net profit to Rs 236.24 crore in the December quarter on strong demand for residential and commercial properties. Its net profit stood at Rs 73.49 crore in the year-ago period. Total income rose to Rs 1,529.68 crore in the October-December period of this fiscal from Rs 1,208.18 crore in the corresponding period of the preceding year, according to a regulatory filing. Bengaluru-based Brigade Enterprises sale bookings rose 63 per cent to Rs 2,492 crore in the December quarter, a growth of 63 per cent compared to the year-ago period. "We have observed robust growth across all our business verticals during the quarter. Growth in the residential business continues in terms of pricing and volume driven by the launches of premium projects and a strong pipeline of launches in the coming quarters," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said. She said the company's