Page 9 - Real Estate Firms

Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr

Realty firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 18.2 lakh office space in Hyderabad, at an enterprise value of Rs 2,038 crore as part of its plan to expand rent-yielding portfolio. Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs 613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at 'Commerzone Raidurg', located at Raidurg, Hyderabad, from the shareholders of Sustain. The office space has been leased to Qualcomm. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08

Mindpsace REIT acquires commercial complex in Hyderabad for Rs 613 crore

Realty firm Mindspace Business Parks REIT has acquired 18.2 lakh commercial area in Hyderabad for Rs 613 crore to expand its rent-yielding portfolio. Mindspace REIT, which is listed on stock exchanges, will acquire 100 per cent equity of Sustain Properties Pvt Ltd, which owns this 18 lakh square feet area. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at Commerzone Raidurg, located at Raidurg, Hyderabad. The deal value is Rs 612.9 crore. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08 per unit to the shareholders of Sustain Properties as consideration for the transfer of their 100 per cent equity ...

DLF shares: Dahlias' strong pre-sales trigger bullish calls by analysts

DLF's robust pipeline, including unsold inventory at Dahlias worth Rs 23,000 crore, along with upcoming launches in Goa and Gurugram, analysts believe, is expected to continue supporting strong sales

Omaxe to invest Rs 2,800 cr in real estate projects under BeTogether brand

Realty firm Omaxe Group on Monday said it will invest Rs 2,800 crore to develop projects under a new brand BeTogether. In a regulatory filing, Omaxe said the new brand is dedicated to reshape urban and economic development through collaborative real estate projects. "The current projects being undertaken by BeTogether would entail a total investment of over Rs 2,800 crore," it added. Under the new brand BeTogether, the company will focus on joint ventures, collaboration and development through the Public-Private Partnerships (PPPs) model. BeTogether's project portfolio currently includes the joint venture initiative, 'BeTogether Centre Point Vrindavan'. In addition, the brand is partnering with the Uttar Pradesh State Road Transport Corporation (UPSRTC) on several PPP projects to upgrade bus terminals in key cities, like Lucknow, Ghaziabad, Kaushambi, Ayodhya, Amausi, and Prayagraj. In the last 37 years, Omaxe has established a strong footprint in 31 cities in 8 states of North a

Mumbai, New Delhi among top 10 investment destinations in Apac: CBRE

In 2024, India saw a record-high $11.4 billion in real estate investments, marking a 54% increase from 2023

Hyderabad's real estate sees robust growth in 2024 despite year-end dip

Property sales rise by 7 per cent, with a 23 per cent increase in transaction value; December registrations show a 20 per cent decrease compared to last year

MicroMitti raises Rs 90 cr for proptech growth, real estate investments

Proptech firm MicroMitti has raised Rs 90 crore from investors to expand its business. In a statement on Thursday, MicroMitti said the company raised Rs 17.06 crore through a seed funding round for MicroMitti holding firm promoting real estate investment vehicles like SM-REIT (small and medium real estate investment trust), AIF (alternate investment fund) and private equity. It also raised Rs 72.94 crore for MicroMitti's special purpose vehicles doing real estate projects in Indore. Manoj Dhanotiya, founder and CEO of MicroMitti, said, "This funding marks a significant milestone for MicroMitti and highlights the trust and confidence of Indore's business community in our vision. The capital raised will fuel the expansion of our proptech platform, with a focus on AI-driven analytics and automation, while also supporting large-scale real estate developments aimed at generating long-term wealth. MicroMitti has also launched its US arm MicroMitti Inc. The expansion aims to attract globa

Institutional investments in real estate jump 61% in 2024: Vestian

Institutional investments in Indian real estate rose 61 per cent to USD 6.8 billion last year but attracting funds could be challenging in 2025 due to global uncertainties, according to Vestian. Institutional investments stood at USD 4.3 billion in 2023, real estate consultant Vestian said in a statement. Shrinivas Rao, CEO of Vestian, said, "Despite a slow start, the real estate sector received significant institutional investments in 2024, surpassing pre-pandemic levels." However, Rao said, "2025 is expected to be challenging due to increasing geopolitical friction, a slowdown in the global economy, and elevated inflation levels." Out of the total institutional investments, the residential sector reported investments worth USD 2 billion, accounting for 30 per cent of share. Investments in housing segment rose by 171 per cent in 2024 over the previous year. Commercial assets, which include office, retail, co-working, and hospitality projects, received 35 per cent of the total ..

Sobha's sale bookings fall 29% annually in Oct-Dec, rise 18% sequentially

Real estate developer Sobha Ltd's sale bookings fell 29 per cent to Rs 1,388.6 crore in the quarter ended December mainly due to lesser new supply and high base effect. Its sale bookings stood at Rs 1,951.6 crore in the year-ago period. Sale bookings or pre-sale, however, increased during October-December period from the previous quarter at Rs 1,178.5 crore, according to a regulatory filing. During April-December period of 2024-25 fiscal, the Sobha Ltd's sale bookings declined to Rs 4,440.8 crore from Rs 5,140.1 crore in the corresponding period of the preceding financial year. During the entire 2023-24 fiscal, the company had sold properties worth Rs 6,644.1 crore, largely residential units. "Q3-FY25, Sobha recorded sales value of Rs 13.88 billion (1,388 crore) supported by new sales area of 1.01 million (10 lakh) sq ft at an average price realisation of Rs 13,663 per sq ft. Sales value recorded growth of 17.8 per cent compared to the previous quarter." For the first 9 months i

Lodha achieves its highest quarterly pre-sales of Rs 4,510 crore in Q3

During the first nine months of FY25, the company's pre-sales stood at Rs 12,820 crore

Arkade Developers aims Rs 2,150 cr revenue from 3 new projects in Mumbai

Arkade Developers Ltd will redevelop three residential projects in Mumbai and expects to generate a revenue of Rs 2,150 crore. In a statement on Monday, Arkade Developers said it has added three redevelopment projects in key micro-markets within western suburbs of Mumbai. Collectively, Arkade will develop 20,232 square metres (about 5 acres) across these redevelopment projects located in Andheri East, Malad West and Borivali West. "The projected saleable carpet area is approx 5.85 lakh sq ft, generating a projected turnover of Rs 2,150 crore," said the company, which recently got listed on the stock exchanges. Arkade Developers Chairman and Managing Director said, "Redevelopment is a crucial part of the Mumbai real estate growth journey and the brand's forte in the ever-evolving Mumbai skyline". "We have a robust pipeline of over 8 upcoming projects across MMR. We expect to witness a further uptick in societies partnering with us, owing to our exemplary delivery track record," he

Macrotech Developers Q3 sales bookings up 32%, highest quarterly pre-sales

Realty firm Macrotech Developers Ltd on Monday reported a 32 per cent increase in its sales bookings to Rs 4,510 crore for the quarter ended December on account of better demand for its residential properties. Its sales bookings or pre-sales stood at Rs 3,410 crore in the year-ago period. Macrotech Developers, which sells properties under Lodha brand, is one of the leading real estate developers in the country. "We achieved our best ever quarter pre-sales of Rs 45.1 billion (Rs 4,510 crore), showing 32 per cent Y-o-Y (year-on-year) growth," Macrotech Developers said in a regulatory filing. During the first nine months of this fiscal year, the company has clocked a 25 per cent growth in its sales bookings to Rs 12,820 crore from Rs 10,300 crore in the corresponding period of 2023-24 financial year. Macrotech Developers registered a 20 per cent growth in its sale bookings (pre-sales) to a record Rs 14,520 crore during 2023-24 financial year as against Rs 12,060 crore in the previou

Not a happy year: How Hong Kong's rich and famous lost billions in 2024

Hong Kong's elite suffer massive property losses in 2024 as high-interest rates and a weak economy force fire-sale deals, with discounts up to 70 per cent on luxury assets

Homebuyers' body urges govt action on misleading real estate advertisements

The Forum for People's Collective Efforts has urged the Ministry of Consumer Affairs to implement stricter guidelines and enforce penalties for non-compliance with advertisement guidelines

Housing price at Noida Expressway jumps 66% in 5 yrs: Anarock data

Housing prices in Bengaluru's peripheral location Gunjur have risen by 69 per cent in the last five years, while Noida Expressway in Delhi-NCR witnessed 66 per cent appreciation, according to Anarock. Real estate consultant Ananrock's data showed that average housing prices in Noida Expressway stood at Rs 8,400 per sq ft in the September 2024 quarter against Rs 5,075 per square feet in 2019. NCR's peripheral area Sohna saw price growth of 43 per cent to Rs 5,900 per sq ft from Rs 4,120 per sq ft, while prime area New Gurugram witnessed a 59 per cent rise in the same period. Dwarka Expressway saw a significant 93 per cent jump in average housing prices to Rs 10,350 per sq ft from 5,359 per sq ft. In Bengaluru's peripheral location Gunjur, the housing prices have increased to Rs 8,500 per square feet from Rs 5,030 per square feet. Housing brokerage firm InvestoXpert.com founder and MD Vishal Raheja said, "The Noida-Greater Noida Expressway strikes the perfect balance between ...

Motilal Oswal initiates coverage on Anant Raj with 'Buy'; share hits record

The rise in Anant Raj share price came after domestic brokerage Motilal Oswal Financial Services (MOFSL) initiated coverage with 'Buy' for a target price of Rs 1,100, reflecting an upside of 31%

Shares of real estate firm TARC slide 10% after Sebi orders forensic audit

TARC added that it will provide all information, assistance and cooperation, and that it remains committed to 'highest standards of corporate governance'

Signature Global eyes taking over Noida's stalled projects to expand biz

Realty firm Signature Global is looking for land in Noida and Greater Noida to expand the business and will explore taking over stalled housing projects as well provided there are no legacy litigations. Signature Global, which got listed in 2023, has a significant presence in the Gurugram market of Delhi-NCR. In an interview with PTI, Signature Global founder and Chairman Pradeep Aggarwal said, "We want to expand our business in Delhi-NCR beyond the Gurugram market. We are looking for land parcels in Noida, Greater Noida and Yamuna Expressway." The company will participate in land auctions conducted by development authorities of these three regions, he added. That apart, Aggarwal said, "We are also looking to take over stalled housing projects in Noida. The Noida authority has come up with a co-development policy to revive stalled projects. A couple of projects have been approved under this new policy." Aggarwal, however, said the company will take over stalled housing projects,

UBS initiates coverage on DLF, Oberoi & Prestige, says sector in sweet spot

UBS has set a target price of Rs 1,005 for DLF; Rs 2,175 for Prestige Estates; and Rs 2,230 for Oberoi Realty

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