Page 9 - Real Estate Firms

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

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