Page 81 - Real Estate

Signature Global net debt up 4% in Q2 to Rs 1,020 cr; eyes to tap demand

Realty firm Signature Global's net debt rose by 4 per cent in September quarter to Rs 1,020 crore as it looks to expand business amid strong consumer demand for housing properties. The company's net debt stood at Rs 980 crore at the end of June quarter FY25. Earlier this week, Signature Global reported that it has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the 'shradhh' period, Q2, FY25 pre-sales amounted to Rs 27.8 billion, a 184 per cent increase against Q2, FY24," Signature Global had said in a regulatory filing. The company's sale bookings jumped over threefold to Rs 5,900 crore in April-September 2024-25 from Rs 1,860 crore in the year-ago period. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in 2023-24 and has a target o

China shores up its property sector, signals more spending is coming

Local governments will be allowed to use special bonds to buy unsold homes, Finance Minister Lan Fo'an announced

Indian hostel chains aim for global expansion amid rise of digital nomadism

The Hosteller recently raised $4 million in its Series A funding to expand its base of hostels, marketing, and other general purposes

Oberoi Realty's board approves proposal to raise up to Rs 6,000 cr

Company acquired Nirmal Lifestyle Realty Private under the Insolvency and Bankruptcy Code in August

Truth about India's realty prices: Underperfoming amid lofty projections

Global housing markets are appreciating much better

Realty projects worth Rs 7,200 crore get Uttar Pradesh govt approval

These realty projects will come up in the major towns of Noida, Ghaziabad, Lucknow, Agra, Meerut, Prayagraj, Gorakhpur, Jhansi and Moradabad

Top eight listed developers pare debt by 54% in Q1 FY25, says report

Net debt of the top eight listed developers collectively stands at approx. Rs 20,808 crore as of Q1 FY25-end

Puravankara bookings fall 17% to Rs 1,331 cr despite strong housing demand

Realty firm Puravankara Ltd's sale bookings fell 17 per cent to Rs 1,331 crore in the second quarter of this fiscal year despite strong housing demand. Its sale bookings stood at Rs 1,600 crore in the year-ago period. The company sold properties worth Rs 2,459 crore during the first six months of this fiscal year, down from Rs 2,725 crore in the corresponding period of the previous year. "In Q2FY25, we have achieved collections of Rs 1,033 crore and pre-sales of Rs 1,331 crore mostly from sustenance sales. Our performance continues to reflect robust housing demand across key markets, driven by our strategic focus on customer-centric offerings and operational efficiencies," Ashish Puravankara, Managing Director of Puravankara Ltd, said. In the first half of the fiscal, he said the company witnessed sustained traction across its portfolio and continued to replenish land bank by acquiring over 5.75 million square feet of saleable area in Mumbai, Bengaluru and Goa with a total potentia

Hopes dashed but prudent approach: Realtors on unchanged repo rate

The industry experts believed that a rate cut would have helped the momentum to continue amid the festive quarter

Arvind SmartSpaces to develop Rs 600 cr worth housing project in Bengaluru

Realty firm Arvind SmartSpaces Ltd will jointly develop a housing project in Bengaluru with a revenue potential of Rs 600 crore. In a regulatory filing, the company said it "has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of around 4.2 lakh square feet and a top-line potential of around Rs 600 crore." This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on a joint development basis. This would be the company's 12th overall and eighth high-rise project in Bengaluru. "Brand 'Arvind' continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said. "With this project addition, our cumulative new business development topline potential for the year stands at Rs 1,010 crore," he added. Built on around 120-year-old legacy of the Lalbhai Group and established in

NeoLiv buys 12 acre land at Alibaug to develop Rs 400 cr housing project

Realty firm NeoLiv has bought 12-acre land at Alibaug near Mumbai to develop a luxury housing project with a sales potential of around Rs 400 crore. The company did not disclose the land deal value and name of the seller. In a statement on Wednesday, NeoLiv announced the acquisition of 12 acres of prime land in Alibaug, marking the company's foray into the highly sought-after Mumbai Metropolitan Region (MMR) market. "The development with an option to extend to 20 acres and projected gross value of more than Rs 400 crore will offer an exceptional mix of premium villas and plots," it said. NeoLiv founder and CEO Mohit Malhotra said this acquisition represents a significant milestone for the company. "Backed by UHNI investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are committed to delivering exceptional living experiences that will set new benchmarks for residential developments," Malhotra said. Alibaug, kno

Embassy Reit raises Rs 2,000 crore to repay NCDs maturing in October

Embassy Office Parks REIT has raised Rs 2,000 crore debt to repay non-convertible debentures maturing this month. In a regulatory filing on Tuesday, Embassy REIT said it has raised "Rs 2,000 crore of coupon-bearing debt at an interest rate of 7.95 per cent." Embassy REIT will utilise the proceeds from this debt raise to repay its Non-Convertible Debentures (NCDs) of Rs 2,000 crore maturing in October 2024. "We are pleased to announce this fundraise of Rs 2,000 crore, which has seen strong participation from mutual funds and banks," said Aravind Maiya, Chief Executive Officer of Embassy REIT. This refinancing continues to allow the company to optimally control its balance sheet and positions it to take advantage of future rate cuts to raise capital. Embassy REIT is India's first publicly listed Real Estate Investment Trust. It owns and operates a 51 million square feet portfolio of 14 office parks in Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. Embassy

Sobha Q2 sales bookings fall 32% to Rs 1,178 cr despite strong demand

Realty firm Sobha Ltd has posted a 32 per cent decline in its sale bookings to Rs 1,178.5 crore during July-September quarter despite strong housing demand. In a regulatory filing on Monday, Bengaluru-based Sobha Ltd informed that its sale bookings stood at Rs 1,178.5 crore in the second quarter of this fiscal as against Rs 1,723.8 crore in the year-ago period. "In Q2-FY25, we sold new area of 0.93 million square feet with sales value of Rs 11.79 billion at an average price realization of Rs 12,674 per square feet," the company said. In terms of volume, the sale bookings fell to 9,29,907 square feet during July- September 2024 from 16,86,196 square feet in the year-ago period. During the first six months of this fiscal, Sobha Ltd sold properties worth Rs 3,052.2 crore as against Rs 3,188.5 crore in the corresponding period of the preceding year. The company sold 21,05,268 square feet in April-September period of this fiscal as against 30,80,313 square feet in the corresponding per

Wave Group targets over Rs 500 cr from new Ghaziabad housing project

Realty firm Wave Group is expecting more than Rs 500 crore revenue from a new luxury housing project in its 4,200-acre township in Ghaziabad, Uttar Pradesh. The company has launched a new project 'Eden', spread across 5.2 acres, Wave Group said in a statement. It has launched around 250 apartments for sale. The company is expecting sales bookings value of more than Rs 500 crore, according to property consultants. Last month, Wave Group had said it plans to launch around 9,000 flats in its 4,200-acre township 'Wave City' at Ghaziabad to monetise its huge land bank amid strong housing demand. The group plans to launch about 7 million square feet in the premium and affordable group housing categories in Wave City in the current fiscal. The investment to develop a 7 million square feet area and potential sales value were not disclosed. Wave Group has already developed more than one-third of the township spread over 4,200 acres in the last 10 years by way of plotted development and ..

New house launches plunge 25%, sales dip 5% in top Indian cities: Report

The report covers major housing markets including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, MMR (Mumbai, Navi Mumbai, and Thane), and Pune

PE investment in real estate increases to $2.2 bn in Jul-Sep: Savills India

Private equity investments in the real estate sector jumped over twofold to USD 2.2 billion in July-September as investors look for gains amid strong property demand, according to Savills India. In the year-ago period, private equity (PE) investments in real estate stood at USD 934 million. Real estate consultant Savills India also noted that the PE inflows stood at USD 3.9 billion during the January-September period of this calendar year, touching the investment quantum registered in the entire 2023. The PE inflows stood at USD 6.7 billion in 2019, USD 6.6 billion in 2020, USD 3.4 billion in 2021, USD 3.4 billion in 2022, and USD 3.9 billion in 2023. "Despite global challenges, India witnessed heightened investment activity with YTD 2024 inflows surpassing all of 2023 investments, reflecting strong investor confidence on the back of a robust macroeconomic environment," said Arvind Nandan, Managing Director, Research & Consulting, Savills India. During the July-September quarter,

PE inflows in Indian realty hit record $3.9 bn in 2024: Biggest deals of Q3

Industrial & logistics sector leads, attracting $1.7 billion in PE investments in Q3 2024

Weak Q2 sales pushes Sobha share price 4% lower on October 8

Sobha's new sales plunged 44.9 per cent year-on-year (Y-o-Y) to 929,907 square feet in Q2FY25, from 1,686,196 square feet in Q2FY24.

Top 8 housing markets see 5% annual sales dip in Sep quarter: PropTiger

Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023. The number of new residential units launched in the top 8 markets fell 25 per cent to 91,863 units from 1,23,080 units. PropTiger pointed out that a sharp increase in home prices, averaging a nearly 20 per cent increase across the top eight cities, impacted affordability. As per the data, housing sales rose only in Delhi-NCR and declined in the other seven major cities. Delhi-NCR saw a 29 per cent growth in sales to 10,098 units during July-September from 7,800 units in the year-ago period. However

IndoSpace looking to invest Rs 4,500 cr logistics and warehouse parks in TN

Logistics parks operator IndoSpace on Tuesday said it is looking to bolster its presence in the manufacturing sector with an increased investment plan of up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. A leading developer of Grade A industrial and logistics real estate, IndoSpace had last year signed an initial pact with the Tamil Nadu government for investing Rs 2,000 crore in the state's logistics industry. Tamil Nadu continues to be a preferred destination for global original equipment manufacturers (OEMs) with companies like Hyundai, Nissan, Foxconn, and Pegatron announcing significant expansions in the state, IndoSpace said, adding that the company has helped develop an ancillary ecosystem that supports these OEMs. "IndoSpace announces plans to increase its investments up to Rs 4,500 crore in new logistics and warehouse parks in Tamil Nadu. These parks will support the growing manufacturing sectors like automobile and electronics in the state," the ...