Page 41 - Real Estate

Shapoorji Pallonji targets ₹ 1,400-cr sales from Gurugram housing project

Shapoorji Pallonji Real Estate (SPRE), in partnership with KREEVA and ASK Property Fund, on Thursday launched a luxury housing project in Gurugram with a revenue potential of Rs 1,400 crore. In October last year, Shapoorji Pallonji Real Estate (SPRE) formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a residential project, spread over 1.75 acre, in Sector 46, Gurugram. On Thursday, SPRE launched this new project -- The Dualis -- comprising 198 units, as part of its expansion plan to encash strong housing demand across major cities. "The project is poised to generate projected top-line revenues of over Rs 1,400 crore over the next five years," SPRE said in a statement. The project features two towers, each having a height of about 150 metre, with 198 apartments. The size of the flats ranges from 2,850 to 3,600 square feet. Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate (SPRE) & Managing Director of Joyville Shapoorji Housing, said, "With 'The

Realty firm Brigade Group acquires 5.4 acres in Chennai for ₹441.7 crore

Brigade Enterprises acquires 5.41-acre land in Chennai's Velachery for ₹441.7 crore, strengthening its position in the city with a project worth ₹1,600 crore

Sebi warns investors as Strata exits SM REIT framework post legal row

Strata, with Rs 2,000 crore AUM, had not launched SM REIT schemes before surrendering its registration following Sebi discussions and legal proceedings

Aditya Birla Real Estate Q4 results: PAT at Rs 127 cr, income down 50%

Aditya Birla Real Estate on Wednesday reported a consolidated net loss of Rs 126.99 crore from continuing operations for March quarter FY25. The company had posted a net profit of Rs 143.67 crore in the year-ago period. Total income declined to Rs 407.78 crore in the quarter from Rs 823.34 crore a year ago, according to a regulatory filing. For 2024-25, the company posted a net loss of Rs 148.74 crore as against a net profit of Rs 128.25 crore in the preceding year. Total income rose to Rs 1,257.33 crore from Rs 1,148.71 crore. Aditya Birla Real Estate, formerly known as Century Textiles & Industries Ltd, has sold its pulp and paper business recently. Shares of the company ended at Rs 2,026.10 apiece, up 4.66 per cent, on the BSE.

Aditya Birla Real Estate Q4 results: Incurs ₹131 cr loss, revenue down 43%

ABRE reports ₹131 crore loss in Q4FY25 versus profit a year ago; revenue fell 43% YoY, but full-year revenue rose 35%; five launches and ₹8,000 crore in bookings

Rustomjee Q4 results: Profit more than doubles to ₹65 cr, revenue falls 28%

Rustomjee's Q4 FY25 profit rose 111% Y-o-Y to ₹64.8 crore, even as revenue fell nearly 28%; the company met annual presales guidance and raised FY26 target

Ajmera Realty Q4 results: PAT falls 18% to ₹24 cr, revenue down 34%

Ajmera Realty reports a weak March quarter with 34% drop in revenue and 18% fall in PAT, but full-year FY25 profit rises 22% to ₹126 crore on operational strength

Explained: Why 8,000 flat registrations are stuck in NCR's Greater Noida

These projects, under the jurisdiction of the Uttar Pradesh State Industrial Development Authority (UPSIDA), are facing delays in property registrations due to a combination of factors

Abhinandan Lodha changes firm name from 'Lodha' to Abhinandan Ventures

Within a month of reaching a truce with his elder sibling, Abhinandan Lodha on Tuesday launched a new identity for the holding company housing all of his businesses. The holding company has been rechristened as "Abhinadan Ventures" from "Lodha Ventures" earlier, as per a statement. It can be noted that last month, Abhinandan and his brother Abhishek, who runs Macrotech Developers, had reached an out-of-court truce over the usage of 'Lodha' in branding, under which the elder sibling was permitted to use the "Lodha" name. The statement issued by Abhinandan Ventures said the entity began operations in 2015 for incubating and accelerating high-growth, consumer-centric businesses, and has expanded into real estate, private equity, education, and emerging consumer opportunities. "While we continue to own the brand 'Lodha Ventures', with all our businesses being new age, tech-driven consumer-centric businesses, the new branding allows us to clearly communicate our innovation-first philoso

Trump Residences in Gurugram sells out in a day for Rs 3,250 crore

Apartments priced between Rs 8 crore and Rs 15 crore, with four penthouses at Rs 125 crore each, fully allotted in second Trump-branded project in Gurugram

Trai issues draft guidelines to rate real estate by digital connectivity

Telecom regulator Trai on Tuesday floated a draft manual for rating properties based on the quality of digital connectivity available on their premises. The move is expected to encourage property managers and owners to make arrangements for better connectivity on their premises and help property buyers as well as tenants to compare the real estate assets before making their choice. "A property with better ratings shall attract more users, buyers or investors and thereby add value to the properties. The draft rating manual provides a methodology to assess the digital connectivity of properties and areas across various categories. Properties shall be evaluated based on defined parameters in the regulation such as fiber readiness, mobile network availability, in-building solutions and Wi-Fi infrastructure, service performance etc," Trai. The Telecom Regulatory Authority of India (Trai) has fixed June 2 as the last date for comments and June 9 for counter comments.

Rs 15 cr penthouses: All 298 Trump Tower Gurugram apartments sold on day 1

With Rs 3,250 crore in bookings on Day 1, India's appetite for ultra-premium real estate is stronger than ever.

All 298 Trump residences in Gurugram sold on launch day for ₹3,250 crore

Real estate developers Smartworld Developers and Tribeca Developers announced in a joint statement on Tuesday

Smartworld, Tribeca sell 298 homes for ₹3,250 cr in 'Trump-branded' project

Realty firms Smartworld Developers and Tribeca Developers have sold all 298 units in the 'Trump' branded ultra-luxury residential project in Gurugram for Rs 3,250 crore, reflecting a strong demand for premium homes in the Delhi-NCR market. In a statement on Tuesday, Smartworlds and Tribeca announced "complete sell-out of Trump Residences Gurgaon on launch day", clocking sales of Rs 3,250 crore. "Priced between Rs 8 crore and Rs 15 crore per unit, the development's 298 homes were absorbed in record time - a testament to the surging demand for branded, ultra-luxury living in India," the statement said. This landmark collaboration between Smartworld, Tribeca, and The Trump Organization comprises two 51-storey towers. Smartworld will oversee development, construction, and customer service, while Tribeca leads design, marketing, sales, and quality control. Pankaj Bansal, Founder of Smartworld Developers, said: "The phenomenal response to Trump Residences is a testament to the aspiratio

Arkade Developers Q4 results: Net profit rises 70% to ₹33.26 crore

Realty firm Arkade Developers Ltd on Tuesday reported a 70 per cent increase in its consolidated net profit to Rs 33.26 crore for the latest quarter ended March. Its net profit stood at Rs 19.61 crore in the year-ago period. Total income rose to Rs 134.34 crore in the fourth quarter of the last fiscal from Rs 123.13 crore in the corresponding period of the preceding year, according to a regulatory filing. During the 2024-25 fiscal, Arkade Developers' net profit grew to Rs 156.92 crore from Rs 122.91 crore in the year-ago period. Total income climbed to Rs 694.60 crore last fiscal from Rs 635.71 crore in the 2023-24 fiscal. Arkade Developers is one of the leading real estate companies in the country.

Over 16.6 msf of new malls to come up in Tier-1 cities in 2 yrs: Report

Hyderabad and Delhi- NCR will command a combined 65 per cent share of the new malls

This new AI tool could speed up your home loan and prevent property fraud

With the new IOC platform, banks can verify ownership within seconds, dramatically speeding up loan approvals and reducing the chances of fraudulent or disputed properties being used as collateral.

VVIP Group to invest ₹800 crore in luxury homes project in Greater Noida

Realty firm VVIP Group will invest around Rs 800 crore to develop a luxury housing project in Greater Noida. In a statement on Monday, VVIP Group said it has launched a new ultra-luxury project 'VVIP Addresses' at Sector 12, Greater Noida West. "With an investment of approximately Rs 800 crore, the project will comprise 350-plus premium residential units in a single-phase development," it said. The project is spread over 5 acres. The company is selling units between Rs 3.49 crore and Rs 6 crore. Praveen Tyagi, CMD of VVIP Group, said, There is a growing demand for luxury housing in the region, which reflects buyers' evolving preferences and a keen desire for a lifestyle that combines opulence, comfort, and connectivity." VVIP Group has developed many projects in Delhi-NCR.

ICICI Venture to transfer PE, realty fund units to ICICI Prudential AMC

The move is aimed at consolidating investment offerings under ICICI Prudential AMC, so it can provide a full suite of asset classes, including private equity, the bank said in an exchange filing

Looking to monetise existing land banks: DLF Home Developers' Aakash Ohri

Ohri said the group would focus on premium and luxury segments but noted that the buyer demographic was also changing