Page 3 - Real Estate

Prestige Group holds ₹65,000 cr unrecognised revenue on pre-sales: Chairman

Realty firm Prestige Estates Projects Ltd has around Rs 65,000 crore of unrecognised revenue in its account, driven by strong sales of its housing properties during the last three financial years. Prestige Estates achieved a record sales bookings of Rs 30,024 crore during the 2025-26 fiscal, up 76 per cent from the preceding year. In an interview with PTI, Prestige Estates Chairman Irfan Razack said, "We have got about Rs 65,000 crore of unrecognised revenue in the book. It is not a small amount". He mentioned that the company follows the completion method for recognition of revenues. This means that revenue gets recognised once the real estate project gets completed. However, Razack said the company is in discussion with auditors to shift towards the percentage of completion method. On the outlook for the current fiscal, the company's chairman was hopeful that sales bookings and new launches would be better than those in 2025-26, as housing demand continues to be good despite glo

Fidelity Investments buys 2% stake in Lodha Developers for ₹1,864 crore

Financial services company Fidelity Investments has purchased a 2 per cent stake in Lodha Developers for Rs 1,864 crore from two promoter entities through open market transactions, according to block deal data on the NSE. US-based Fidelity Investments, through its eight affiliates, including FMRC Fidelity Advisor International Capital Appreciation Fund and FRST II Strat Adv Fide Interl Fund, bought a total of 1,98,81,296 shares, or 1.99 per cent stake, in Lodha Developers. The transactions were executed in eight separate tranches on Thursday at an average price of Rs 937.85 apiece, taking the combined transaction value to Rs 1,864.56 crore. Meanwhile, two promoter group entities of Mumbai-based realty firm Lodha Developers, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd, collectively sold the same number of shares at the same price, as per the data. After the stake sale, the combined holding of promoters and promoter group entities in Lodha Developers has

Mantra Group secures ₹2,000 crore Worli project through NCLT resolution

Pune-based developer Mantra Group has won the stalled Worli project through the insolvency resolution process, marking its third acquisition in Mumbai within a year

SPJ Vedatam Brings Smart Commercial Infrastructure to Old Gurugram's Evolving Urban Landscape

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Hero MotoCorp, WeWork lease 3.5 lakh sq ft in Worldmark for ₹922 crore

Hero MotoCorp and WeWork have signed separate long-term office leases at Bharti Real Estate's Worldmark complex in Aerocity, with a combined rental outlay of about Rs 922 crore

Housing sales in India's top nine cities grow 19% in Q2 2026: PropEquity

Housing sales across India's top nine cities rose 19 per cent in Q2 2026 as higher supply and strong demand in southern and western markets offset declines in Delhi-NCR and Kolkata

Nisus Finance eyes ₹4K cr fundraise through India-UAE property platform

Nisus Finance aims to raise up to Rs 4,000 crore over 18-24 months through an India-UAE platform targeting redevelopment, plotted development and asset-backed real estate

₹170-cr Dadar redevelopment deal includes cash, flats parking for landowner

The owner receives a monetary consideration of Rs. 169.51 crore along with an allocated 25,774.61 sq. ft. of residential RERA carpet area and 16 car parking spaces in this upcoming project.

Housing sales jump 19% across top nine cities in April-June: PropEquity

Housing sales rose 19 per cent to 1,12,458 units during April-June across the top nine cities despite global economic uncertainties, according to PropEquity. Sales stood at 94,864 units in the year-ago period across the nine cities -- Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata. New supply of residential properties rose 43 per cent annually to 1,17,609 units during the April-June period. PropEquity founder and CEO Samir Jasuja said, "The Indian housing market has remained resilient despite the geopolitical uncertainties in the Middle East. Southern markets continue to lead growth, while Mumbai and Navi Mumbai have also seen strong demand. Although some regions such as Thane and Delhi-NCR have witnessed relatively softer activity, overall market sentiment remains positive". According to the data, the housing sales in Bengaluru rose to 21,516 units in April-June from 14,676 units in the year-ago period. In Chennai, sales increased to 6,323

Actor Siddhant Chaturvedi buys ₹14 cr flat in Mumbai's Juhu with mother

The buyers paid a stamp duty of ₹83.46 lakh for the transaction. The agreement was registered on June 19, 2026.

Office space leasing dips 2% across seven major cities in Apr-Jun: Colliers

Gross leasing of office spaces fell 2 per cent to 17.4 million sq ft during April-June across seven major cities on lower fresh supply, according to Colliers India. The gross leasing stood at 17.8 million sq ft in the year-ago period. Leasing of office spaces rose in Bengaluru, Delhi-NCR and Hyderabad, but fell in Mumbai, Pune, Chennai and Kolkata. As per the data, the gross leasing rose 8 per cent in Bengaluru to 5.2 million sq ft during April-June from 4.8 million sq ft in the year-ago period. In Delhi-NCR, the office leasing increased 23 per cent to 2.7 million sq ft from 2.2 million sq ft. The leasing in Hyderabad rose 19 per cent to 3.8 million sq ft from 3.2 million sq ft. However, the gross leasing in Mumbai fell 29 per cent to 2 million sq ft from 2.8 million sq ft. Chennai witnessed a fall of 23 per cent to 2 million sq ft from 2.6 million sq ft, while Pune saw a decline of 25 per cent to 1.2 million sq ft from 1.6 million sq ft. In Kolkata, the office leasing fell 17 per

Affluent investors turn to AIFs for a slice of Delhi's luxury housing boom

Golden Growth Fund has closed its maiden ₹101-crore AIF as rising luxury home prices in South Delhi

Vedanta forays into real estate sector to unlock value from surplus land

Vedanta Ltd on Wednesday said it has incorporated a wholly-owned company Vedanta Property Platforms Ltd (VPPL) to foray into real estate sector. VPPL will serve as a strategic vehicle for Vedanta's real estate business and related activities. The move is aimed at monetising surplus land and non-core property assets and creating a dedicated structure for potential joint ventures and asset-light initiatives to fund expansion in its core metals and energy businesses. In a filing to BSE, the company said VPPL was incorporated in Mumbai, Maharashtra, on June 22. The subsidiary will serve as a strategic platform for undertaking real estate business and ancillary activities. It has an authorised capital of Rs 1 lakh, comprising 1 lakh equity shares of Rs 1 each. Its subscribed capital also stands at Rs 1 lakh. Vedanta has subscribed to 100 per cent of the equity share capital of the company through a cash consideration of Rs 1 lakh, making VPPL a wholly-owned arm. As the company has bee

India's 28 big listed realty firms clock ₹1.95 trn pre-sales in FY26

India's 28 big listed real estate companies sold properties worth Rs 1.95 lakh crore last fiscal on strong housing demand with Godrej Properties clocking the highest sales bookings. According to the data compiled from investor presentations, the total combined sales bookings or pre-sales of the 28 major listed realtors stood at nearly Rs 1.95 lakh crore during 2025-26 financial year, up 17 per cent from over Rs 1.66 lakh crore in the preceding fiscal. Godrej Properties, which has a presence across major cities, retained the position of largest listed realty firm in terms of sales bookings in FY26. Bengaluru-based Prestige Estates Projects Ltd jumped to second position, followed by Mumbai-based Lodha Developers Ltd. DLF Ltd, India's largest realty firm in terms of market cap, stood at fourth position while Signature Global Ltd remained at fifth position. Among these 28 players, only six players witnessed a drop in sales bookings during the 2025-26 fiscal. According to property ...

Square Yards raises $95 million, plans $50 million more before IPO

Proptech firm secures $95 million through debt and equity and is targeting another $50-60 million as it strengthens its balance sheet ahead of a public listing

National developers expand footprint in Delhi-NCR housing market

Share of national developers in Delhi-NCR's residential supply has risen from 3 per cent in 2022 to over 13 per cent, driven by premium housing demand and infrastructure growth

Real estate platform Square Yards raises ₹900 crore, becomes unicorn

Real estate consultant Square Yards on Tuesday said it has raised Rs 900 crore from investors to grow business and refinance debt. In a statement, the company said it has raised Rs 900 crore, comprising a mix of debt and equity. The funding round was anchored by EAAA Alternatives and saw participation from global corporate credit manager Muzinich & Co. Square Yards said the equity fund was raised at a valuation higher than its previous round. Sources said the fund was raised at a valuation of more than USD 1 billion, thereby helping the company to achieve unicorn status. During the last fiscal, Square Yards reported revenue of Rs 2,086 crore, a 48 per cent year-on-year growth. The EBITDA jumped 3.7 times to Rs 176 crore. Square Yards offers integrated services, including property search, transactions, home loans, interiors, and property management. The fund will help fortify its balance sheet while enabling the company to fuel further expansion and strengthen its technologica

Smartworks renews lease for 2.3 lakh sq ft office space in Hyderabad

Co-working and flex-space provider commits Rs 121 crore over five years for Hyderabad office space as it pursues expansion across key urban and Tier-I markets

700 luxury home deals, 53 outstation buyers: Mumbai's new wealth magnet

One in Seven Buyers of Mumbai's ₹25-Crore Homes Comes From Outside Maharashtra

Mahindra Lifespaces eyes ₹45K cr project launches over next 2 years

Mahindra Lifespaces plans ₹45,000 crore worth of project launches over the next two years as it accelerates expansion to achieve ₹10,000 crore annual sales by FY30