Page 64 - Real Estate

Square Yards Apr-Dec revenue up 46% to Rs 938 cr on better housing demand

Proptech firm Square Yards, which is into housing and home loan brokerage, on Tuesday said its revenue rose 46 per cent to Rs 938.4 crore in the first nine months of 2024-25 fiscal year amid strong demand for residential properties. Revenue stood at Rs 644.1 crore in the year-ago period. Square Yards has businesses mainly in India and Dubai. The company's India revenue rose 50 per cent to Rs 759.6 crore during April-December period of 2024-25 from Rs 506.7 crore in the corresponding period of the previous year, according to a statement. Consolidated gross profit rose to Rs 167.7 crore during the period under review from Rs 94 crore in the year-ago period. "This would mark our 2nd consecutive year of profitability, and first year of operating cash flow break even. We expect to close at USD 170mn+ revenue for this fiscal," Tanuj Shori, Founder & CEO of Square Yards, said.

Supply of homes priced up to Rs 1 crore falls 30% in 2024: PropEquity

Fresh supply of affordable and mid-income homes costing up to Rs 1 crore fell 30 per cent last year to nearly 1.99 lakh units across nine major cities, according to PropEquity. Real estate data analytics firm PropEquity on Tuesday pointed out that India's top nine cities, where a majority of Indians migrate for jobs, are "staring at a housing crisis". PropEquity attributed this fall in new supply of affordable and mid-income homes to a shift in developers' focus towards luxury housing. The supply of homes in the affordable and mid-income category (priced Rs 1 crore and below) across nine cities has dipped to 1,98,926 units in 2024 from 2,83,323 units in the preceding year. The supply was 3,10,216 units in 2022. "Today, 8 per cent of India's population live in tier-1 cities and this number is expected to grow exponentially in the next five years as more people move to these cities for employment opportunities," Samir Jasuja, Founder and CEO of PropEquity, said. The lack of supply i

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

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

Ares looks to boost private credit presence in record Indian market

The alternative asset manager has deployed $4.5 billion to Indian companies as of the end of September, roughly half the firm's investment in Asia over the past five years

DLF sells 41% units of super luxury Dahlias project in nine weeks

Buyers now more involved in ultra-luxury housing, says DLF Home Developers Joint MD

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

Multi-asset funds hit afterburners: AUM growth reaches critical mass

Inflows and fund launches reshape asset landscape

Nirala World buys 2.5 acre land in Greater Noida for Rs 175 crore

Real estate company Nirala World has bought 2.5 acre land in Greater Noida to develop a 8 lakh square feet commercial project to meet rising demand of office and retail spaces. In a statement, Nirala World said the company bought this land through an auction, from Greater Noida Industrial Development Authority (GNIDA). It has won bid to acquire a 10,400 square metre (2.5 acre) commercial land parcel worth Rs 175 crore. "We recently purchased a land parcel in Greater Noida West through an auction process," said Suresh Garg, Chairman and Managing Director of Nirala World. He said the company will develop its second commercial project in Greater Noida. Garg said the project will have retail spaces, high street, food court, multiplex, office spaces. The total development potential in this project will be 7.87 lakh square feet. In October last year, Nirala World had purchased a 2.6-acre land parcel in Sector 10, Greater Noida West to develop its first commercial projects. Nirala Wo

Birla, Mitsubishi Estate ink JV to invest Rs 560 cr in new housing project

Aditya Birla Real Estate Ltd arm Birla Estates has entered into a joint venture with Mitsubishi Estate Co Ltd (MEC) and will invest Rs 560 crore to develop a housing project in Bengaluru. Birla Estates Pvt Ltd has entered a joint venture with Mitsubishi Estate Co Ltd for a Rs 560 crore investment in a residential housing development in Southeast Bengaluru through a special purpose vehicle (SPV). Under the partnership, Birla Estates and MJR Investment Pte Ltd (MIPL), an affiliate of MEC, will share 51:49 economic interest, respectively, in the SPV. The SPV will lead the development of the premium residential project, which spans 40 lakh square feet of built-up area. KT Jithendran, MD & CEO of Birla Estates, said, "We are pleased to announce our strategic collaboration with Mitsubishi Estate, marking its maiden investment in India's residential real estate sector, to develop premium residential project". Birla Estates develops premium residential housing in key markets. The company

Arkade Developers Q3FY25 results: Net profit rises marginally to Rs 50.1 cr

The company recorded pre-sales of Rs 220 crore during Q3 FY25

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

Sobha hits 52-week low; stock tanks 27% thus far in January

Shares of Sobha hit a 52-week low of Rs 1,148.30, down 6% in intra-day trade, falling below its previous low of Rs 1,176.01 touched on March 18, 2024.

Arvind SmartSpaces to develop new township in MMR, eyes Rs 1,500 cr revenue

Realty firm Arvind SmartSpaces Ltd has entered into a joint development agreement to build a 92-acre township with an estimated revenue potential of Rs 1,500 crore. In a regulatory filing on Friday, the company said it has signed an agreement for a large horizontal, multiuse project in Mumbai Metropolitan Region (MMR), "with a total estimated area of 92-acre and a top-line potential of Rs 1,500 crore." The company has tied up with Sach Developers to build this township, located near Khopoli, Mumbai. The project is signed under a joint development model (70.5 per cent revenue share) enabling low capital intensity and higher returns. Kamal Singal, Managing Director and CEO, Arvind Smartspaces said, "We are happy to announce our entry into the Mumbai real estate market, marking a significant milestone in our growth journey. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bring our horizontal value proposition there." He said the ent

Nagpur, Lucknow, Jaipur lead next wave of realty boom in emerging cities

Nagpur, Jaipur & Lucknow are emerging cities developing rapidly due to infrastructure upgradation and expansion, Government initiatives like smart city, urban expansion.

Tata Investment Corp buys 2 office spaces in Mumbai's Wadala for Rs 148 cr

The transaction featured a substantial stamp duty of Rs 8.88 crore.

Homebuyer awarded Rs 2.26 cr for 10-year delay in flat possession

Haryana RERA's order in case underscores the legal obligations of real estate companies and homeowners' rights, say legal experts

Nuvama-Cushman & Wakefield JV raises Rs 1,700 crore for office assets

Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) has raised Rs 1,700 crore under its new real estate fund for making investments in office assets across major cities in India. The NCW is a Joint Venture (JV) between wealth management firm Nuvama Asset Management and global real estate consultant Cushman & Wakefield. In a statement on Thursday, the JV firm announced the first close of its Prime Offices Fund (PRIME). The fund achieved a corpus of around Rs 1,700 crore, it added. The Fund aims to offer investment opportunities to investors in the Indian commercial real estate sector. The Fund will focus on Grade A+ offices across key micro-markets in India's top six cities --?Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad. The Fund targets investments across a portfolio of new developments, as well as completed and leased assets and has already built a robust deal pipeline for deployment. Anshu Kapoor, President & Head, Nuvama Asset Management said, "We have been

Nifty Realty stocks trade below 200-DMAs; index down 18% in Jan; what next?

Technical charts suggest that stocks such as Prestige Estates, Lodha and Sobha can fall up to 32 per cent from here on, while the Nifty Realty index can crack by another 14 per cent.

BSE Realty index hits 10-month low; Oberoi, Prestige, Lodha fall up to 7%

The BSE Realty index was trading at its lowest level since March 26, 2024, and has corrected by 23 per cent from its December 2024 high.