Page 36 - Real Estate

IPO-bound Kalpataru sells properties worth Rs 2,727 cr in Apr-Dec FY25

Real estate developer Kalpataru Ltd, which will launch Rs 1,590-crore IPO next week, sold properties worth Rs 2,727.24 crore during April-December of the last fiscal on strong demand for housing and commercial assets. The company sold properties worth Rs 3,201.98 crore in 2023-24, according to its updated red herring prospectus (RHP) filed with Sebi. The latest document has updates till the third quarter of the 2024-25 fiscal only. Mumbai-based Kalpataru focuses on the development of residential, commercial, retail and integrated township projects. It is also into the redevelopment of societies. The company has fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore initial public offering (IPO), which will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23. The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no offer for sale (OFS) component. It proposes to util

Real estate giant Kalpataru eyes deleveraging amid ₹1,590 cr IPO

Real estate firm Kalpataru plans to repay borrowings using IPO proceeds, cash reserves and project sales, with debt ratio targeted to fall from 3.7x to below 2x

Wipro inks 10-year lease for office space in MMR's Mindspace Business Park

The tech firm has taken space in building no. 2 of Mindspace Business Park with parking for 194 cars and a monthly rent of Rs 2.5 crore at Rs 64 per sq ft

Listed REITs can expand as 47% of office stock is over 10 yrs old: Anarock

Anarock and Colliers reports show only 117.2 million sq. ft. under listed REITs in India with ageing Grade A stock and micro-market concentration offering growth opportunities

Real estate giant DLF aims to launch Mumbai project by next quarter

DLF to launch Mumbai housing project in next quarter; Goa villa handover likely soon; Privana North sold out with 25% NRI participation and ₹11,000 crore revenue

Realty firms eye senior living as rising demand reshapes home market

Rising elderly population, demand for wellness-led housing drive real estate firms to invest over ₹3,000 crore in senior living projects with healthcare, luxury facilities

Real estate booms as housing sales up 77% in last 7 years: Report

Sales up, luxury living rising, and $6.99 billion in deals, India's real estate market is evolving fast with tech, green trends, and growing investor appetite shaping its next chapter

PE firm Blackstone acquires South City Mall in Kolkata for ₹3.2K cr

Real estate services firm Anarock was the sole transaction advisor to the deal

Blackstone-Sattva REIT to raise ₹4,800 crore via IPO in August 2025

Knowledge Realty Trust to be India's fifth listed REIT with 48 msf leasable area, second-largest in Asia, and largest in India by NOI and gross asset value

New home supply in top 15 tier-II cities falls 35% in Jan-Mar: PropEquity

India's 15 major tier-II cities witnessed a 35 per cent fall in new supply of housing properties to 30,155 units during January-March, according to PropEquity. Real estate data analytics firm PropEquity said the new supply stood at 45,901 units in the first quarter of 2024 calendar year. Samir Jasuja, Founder and CEO of PropEquity, said, "The decline in supply is a result of cautious approach and shifting priorities by developers. Financially robust developers with strong balance sheet look to launch premium homes in order to increase their profit margin." As per the data, new housing supply in Ahmedabad fell 35 per cent to 11,096 units during January-March 2025 from 17,108 units in the year-ago period. Gandhinagar saw a decline of 10 per cent in housing supply to 4,356 units from 4,825 units during the period under review. Fresh housing supply slipped 39 per cent in Surat to 3,309 units from 5,439 units. In Nashik, the new supply decreased 2 per cent to 2,466 units from 2,509 ..

Actor Jaideep Ahlawat buys second Rs 10-crore flat in Mumbai's Andheri

The actor and his wife Jyoti Hooda bought a second apartment in Poorna Apartments in Andheri West, Mumbai, for Rs 10 crore, show documents accessed via Square Yards

Actor Jaideep Ahlawat spends ₹20 cr on 2 Andheri flats in just two months

aideep Ahlawat and his wife Jyoti Hooda have purchased a second luxury apartment in Mumbai's Andheri West within two months-bringing their total real estate spend to ₹20 crore

Godrej Properties acquires 16-acre parcel in Pune, eyes Rs 3,100 cr revenue

The 16-acre parcel in Pune's Upper Kharadi will support premium housing and retail, marking Godrej Properties' second acquisition in the region this month

Godrej Properties to develop Rs 3,100 cr housing-cum-retail project in Pune

Realty firm Godrej Properties Ltd has acquired 16-acre land in Pune to develop a housing-cum-retail project with an estimated revenue of Rs 3,100 crore. In a regulatory filing on Tuesday, the company informed it will develop about 16-acre land parcel in Upper Kharadi, Pune. "The development on this land will primarily comprise premium group housing and high-street retail. The project will have a developable potential of about 2.5 million square feet with an estimated revenue potential of around Rs 3,100 crore," Godrej Properties said. This is the company's second land acquisition this month in the Kharadi-Wagholi belt, taking the estimated cumulative revenue potential from the two developments to about Rs 7,300 crore. The company did not mention whether the acquisition of this land parcel is through outright purchase or partnership with the landowner. Gaurav Pandey, MD and CEO, Godrej Properties, said,"Upper Kharadi has rapidly emerged as one of Pune's most promising real estate .

Macrotech Developers renamed as Lodha Developers after dispute resolution

Company receives fresh Certificate of Incorporation from RoC after settling trademark dispute between Abhishek and Abhinandan Lodha over use of 'Lodha' name

Debt recovery in stressed realty assets to improve to 38% in FY26: Crisil

These projects have benefited from strategic debt restructuring facilitated by Asset Reconstruction Companies (ARCs)

CM Rekha Gupta vows realty reform as taskforce report flags 10 challenges

The report outlined 10 major challenges currently faced by Delhi's real estate sector, such as unauthorised colonies, housing societies, redevelopment of colonies, and modernisation of infrastructure

CBI books Supertech, officials for Rs 126 cr bank fraud, raids premises

The case was filed based on a written complaint by IDBI Bank Ltd; the CBI conducted searches at five official and residential premises linked to the accused in Noida and Ghaziabad

Arkade Developers buys 6.28-acre land parcel in Thane for ₹172.48 crore

Arkade to enter Thane real estate market with ₹172.48 crore land deal; plans a ₹2,000 crore mixed-use project on 9.26 lakh sq ft RERA saleable area by 2026

Increased fresh order inflows key to the growth of construction companies

Some of the key award recipients in May included DR Agrawal Infracon (₹4,100 crore), Larsen&Toubro (₹ 3,800 crore), NCC (₹2,500 crore) among others