Page 90 - Real Estate

Prestige Estates reports Q1 sale bookings down 23% at Rs 3,029 cr

Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period. In a regulatory filing, Prestige Estates said the company sold 2.86 million square feet in April-June against 3.83 million square feet in the corresponding period of the previous year. Total units sold during the first quarter of 2024-25 were 1,364. The average realisation was Rs 11,934 per square feet for apartments, villas and commercial spaces, up by 16 per cent year-on-year (yoy). Plots saw an average realisation of Rs 7,285 per sq ft, up by 46 per cent yoy. "We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore," Irfan Razack

Raymond in focus amid lifestyle unit spinoff; likely to list RRL in a month

Raymond has also proposed the merger of its real estate business Raymond Realty (RRL)

Marathon Nextgen Realty shares tank 7% as pre-sales take beating in Q1

The residential and commercial projects developer sales value in the June quarter slipped by 10 per cent and stood at Rs 214 crores, compared to Rs 236 crore in the previous quarter

Ashwin Sheth to invest Rs 5,000 cr to expand biz, to launch IPO in 2 yrs

Realty firm Ashwin Sheth Group on Tuesday announced an investment of around Rs 5,000 crore to expand its business and plans to launch its maiden public issue in the next 18-24 months to raise up to Rs 3,000 crore. The Mumbai-based company said it has achieved sales bookings of around Rs 1,500 crore during the last fiscal, a three-fold increase from the 2022-23 financial year. "We are targeting to double our sales bookings to Rs 3,000 crore in the current 2024-25 fiscal," the company's CMD Ashwin Sheth told reporters here. He said the company plans to expand its business portfolio in the Mumbai Metropolitan Region (MMR) and is foraying into Bengaluru, Delhi-NCR. It is also exploring to enter Hyderabad, Chennai and Goa. "We are planning to launch an Initial Public Offering (IPO) in the next 18-24 months," Sheth said, adding that the company intends to raise Rs 2,000-3,000 crore through the public issue. Ashwin Sheth Group will also enter into other segments like warehousing. "Indi

Keystone Realtors surges 6% on steady pre-sales growth in Q1; details here

Shares of Keystone Realtors surged up to 5.9 per cent at Rs 710.10 per share on the BSE in Tuesday's intraday trade

'Get Britain building again': Reeves unveils Labour govt's growth plan

Some developers say the only solution to Britain's housing shortage is to build homes on the green belt, strips of countryside surrounding villages, towns and cities where building is prohibited

Ajmera Realty & Infra clocks 36% growth in Q1 sales bookings to Rs 306 cr

Ajmera Realty & Infra India Ltd on Monday reported a 36 per cent rise in its sales bookings to Rs 306 crore in the first quarter of this fiscal on better demand. The company had sold properties worth Rs 225 crore in the year-ago period. In a statement, Dhaval Ajmera, Director at Ajmera Realty & Infra India, said the company achieved robust growth of 36 per cent buoyed by the successful launch of its project 'Ajmera Vihara' at Bhandup in Mumbai. "Reflecting on FY24, it has indeed been a stellar year for us and Q1FY25 began with significant progress marching towards our full-year guidance. "Our achievements underscore our commitment to future growth and moving forward to an ambitious 5x growth strategy. Looking ahead, we are optimistic about our substantial pipeline of 7 new projects having estimated GDV (gross development value) of about Rs 4,300 crore," he said. Ajmera said the sector outlook remains positive. Ajmera Realty is one of the leading players in the Mumbai ...

National-level builder-buyer agreements for realty to be a reality soon

Santosh Kumar, vice chairman of Anarock Group, said that while RERA in respective states has been actively resolving consumer grievances, buyers often struggle to get their homes as promised

Ajmera Realty's shares in news as sales rise 36% YoY to Rs 306 cr in Q1

Ajmera Realty and Infrastructure, a luxury and mid-luxury residential developer reported strong growth in sales value in its business estimates for quarter one of fiscal year 2024-25 (Q1FY25)

Elevating Jaipur's Luxury Real Estate: Akshat Developers' Exclusive Vision

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Explained: Home prices have shot up 50% in Delhi, Mumbai in just 5 years

The COVID-19 pandemic was a boon for these two residential markets, causing demand to soar to new heights.

Avg housing prices jumps nearly 50% in Delhi-NCR, Mumbai in 5 yrs: Anarock

Average housing prices in Delhi-NCR and Mumbai Metropolitan Region (MMR) have risen by nearly 50 per cent in the last five years, driven by higher demand, according to Anarock. Real estate consultant Anarock's data shows that the average rate of residential properties in Delhi-NCR has risen by 49 per cent to Rs 6,800 per square foot in January-June 2024 from Rs 4,565 per square foot in the same period of the 2019 calendar year. Similarly, in the MMR, the average housing prices grew 48 per cent to Rs 15,650 per square feet from Rs 10,610 per square feet during the period under review. Anarock has attributed the rise in prices to steep hikes in construction costs and healthy sales. Prices in both regions had maintained the status quo from late 2016 to 2019, it pointed out. "The COVID-19 pandemic was a boon for these two residential markets, causing demand to soar to new heights. Initially, developers induced sales with offers and freebies, but with demand heading north, they gradual

Signature Global Q1 sales bookings jump 3.5X to Rs 3.1K cr on strong demand

Realty firm Signature Global on Sunday reported a 3.5 times jump in sales bookings to Rs 3,120 crore for the April-June quarter on high demand for its housing projects. The company's sales bookings stood at Rs 820 crore in the year-ago period. According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal against 894 units in the corresponding period of the previous year. In terms of volume, its sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier. Signature Global Chairman Pradeep Kumar Aggarwal said the company continues to ride on a high growth trajectory, achieving robust pre-sales and collection figures for the third consecutive quarter. "We ended the last fiscal year on an exceptional note, exceeding our guidance by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving Rs 10,000 crore in pre-sales. Remarkably, in the fir

Realty firm Experion Developers buys 8-acre land in Gurugram for Rs 400 cr

Realty firm Experion Developers has acquired a 7.81-acre land in Gurugram for Rs 400 crore to develop a real estate project. The company, a fully FDI-funded real estate developer and a wholly-owned subsidiary of Experion Holdings Pte Ltd, Singapore, has acquired the land parcel in Sector 88A, Gurugram. "The 7.81-acre plot was acquired through an outright purchase for approximately Rs 400 crore," Experion Developers said in a statement. The project will have a built-up area of about 3 million square feet. In April, the company had said it would invest about Rs 1,500 crore to develop a luxury housing project 'Experion Elements' in Noida as part of its expansion plans amid a sharp rise in demand for residential properties. The company is developing around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh. In the first phase, around 160 units are being launched for sale. Experion Developers is developing township, housing and commercial projects in Gurugram, Amrits

Luxury realty booms: Homes above Rs 1 cr now 41% of India's housing sales

India's housing market surges as luxury home sales (over Rs 1 crore) jump, while affordable options see a decline.

Investments in Indian real estate rise to record $4.8 bn in H1 2024: Report

Investment volumes in the first six months reach 81% of made in 2023, says JLL

Investments in Indian real estate rise to record $4.8 bn in H1 2024: Report

Investment volumes in the first six months reach 81% of made in 2023, says JLL

Mahindra Lifespace shares rally up to 6% on bagging deals worth Rs 2,050 cr

Shares of Mahindra Lifespace Developers zoomed 6.1 per cent at 647.70 per share on the BSE in Friday's intraday trade

80% developers expect increase in housing demand from NRIs in 2024: Report

Overall housing demand in country to increase by up to 25%, it says

Raymond to demerge real estate business, list realty vertical on exchanges

Textile major Raymond Ltd on Thursday said it will demerge the real estate business to unlock the value for shareholders and harness growth potential in the Indian property market. In a regulatory filing, the company informed that its board has approved the scheme of arrangement of Raymond Ltd (demerged company) and Raymond Realty Ltd (resulting company) and their respective shareholders. As per the scheme of arrangement, each Raymond Ltd shareholder will receive one share of Raymond Realty for every one share held in Raymond Ltd. The standalone operational revenue of the real estate division stood at Rs 1,592.65 crore in the last fiscal, accounting for 24 per cent of the total revenue of Raymond Ltd. This will be subject to the requisite approvals and sanction of the jurisdictional bench of the National Company Law Tribunal (NCLT) and subject to the approval of shareholders and/or creditors, central government, or such other competent authority as may be directed by the NCLT. Upo