Page 16 - Realty

DLF Cyber City Developers net profit climbs 43% to Rs 1,429 crore in FY23

Realty major DLF's rental arm DCCDL's net profit increased 43 per cent to Rs 1,429 crore in the last fiscal on better income from office and retail properties. Its net profit stood at Rs 1,002 crore in 2021-22. According to an investors' presentation, DCCDL's total income increased 19 per cent to Rs 5,419 crore during 2022-23 from Rs 4,533 crore a year ago. DLF Cyber City Developers Ltd (DCCDL) is a joint venture firm between DLF and Singapore sovereign wealth fund GIC. DLF has a nearly 67 per cent stake in the JV firm, while GIC has the remaining. As per the presentation, DCCDL's rental asset portfolio, comprising office complexes and shopping malls, is currently at 39.6 million square feet, and out of that 90 per cent area is already leased to tenants (corporates and retailers). The rental income of DCCDL from office space rose 13 per cent to Rs 3,232 crore during the last fiscal from Rs 2,869 crore in the year-ago period. Rentals from retail space increased 59 per cent to Rs

DLF, Sobha: Realty index can hit life-time peak if it conquers 484 level

When Nifty Realty index hits a new 52-week high, the next positive rally shall aim at setting a new all-time high

Residential sales surge 48% in FY23, sets all-time high record: Anarock

Mumbai Metropolitan Region leads with largest share by both sales value and volume; Pune displays fastest growth

Sundaram Home Finance confident of growth as demand remains positive: MD

Sundaram Home Finance was confident of continuing its growth during the current financial year as the demand in real estate sector remains positive, a top official said on Friday. The company, a wholly-owned subsidiary of non-banking finance company Sundaram Finance Ltd, has reported net profit at Rs 65.68 crore up by 23.8 per cent from Rs 53.05 crore registered in same period of last year. Disbursements during the quarter under review went up to Rs 1,222.46 crore from Rs 794.08 crore registered during corresponding quarter of last year. "The demand in the real estate sector continues to be positive. We are confident of continuing our growth trajectory in FY24. Our growth will continue to be driven by expansion in Tier III and IV towns this year," Sundaram Home Finance MD Lakshminarayanan Duraiswamy said. For the year ending March 31, 2023 the net profit of the company grew to Rs 215.81 crore as compared to Rs 167.70 crore registered in same period of last year. Disbursements for

TransIndia Realty & Logistics Parks to sell crane biz for Rs 121 crore

Allcargo Group firm TransIndia Realty & Logistics Parks on Wednesday announced that it has signed a pact with Premier Heavy Lift Pvt Ltd for selling its crane business to the latter for Rs 121 crore. TransIndia Realty & Logistics Parks Ltd, which specialises in developing and leasing industrial parks, demerged from Allcargo Logistics, and is in the process of becoming an independent listed entity. The demerger is part of Allcargo's restructuring plan. Allcargo Group has been divesting from non-core businesses and selling equipment business is part of this strategy, the company said. The sale of the crane business is on a going concern by way of a slump sale for a lump-sum cash consideration of Rs 121 crore, excluding working capital adjustments as per business transfer agreement, the company said in a statement. The deal proceeds will be utilised for investing in strategic growth areas for TransIndia, which will now exclusively focus on logistics infra and real estate ...

Ali Kochra, Chairman and Managing Director, Kochra Realty Discusses Mumbai's Real Estate Industry and What it Takes to Fill the Market Gap

"Though success is what most entrepreneurs seek, identifying real-world opportunities and developing solutions truly unlock doors to success"

KKR sees India, South Korea as sweet spots amid realty crisis: Report

Real estate investment vehicles overseen by KKR and its rivals like Blackstone Inc. have come under pressure, with many investors requesting their money back

Nifty Realty up 13% so far in April; Godrej, DLF, Oberoi zoom up to 27%

With a decline in interest rate, sustained affordability and gradual price hikes, the analysts expect industry growth to be back on track.

Macrotech adds 12 land parcels in FY23 to build new projects to meet demand

Realty firm Macrotech Developers has added 12 land parcels for the development last fiscal, with an estimated revenue potential of nearly Rs 20,000 crore as it seeks to expand the business to tap rising housing demand. The company had given a guidance of Rs 15,000 crore for new business development for 2022-23 fiscal. Macrotech Developers, which sells its properties under the Lodha brand, acquires land outright and also enters into joint development agreements (JDAs) with landowners to expand the business. It mainly focuses on Mumbai Metropolitan Region (MMR) and the Pune market. It has entered Bengaluru recently. "We continue to remain the preferred partner for various landowners across micro-markets for JDA partnerships," Macrotech Developers MD and CEO Abhishek Lodha said. The company has added 12 projects in FY23 on 14 million square feet for a combined GDV (gross development value) of Rs 19,800 crore, he added. "Business growth robustness continues to strengthen with a ...

Office space demand for properties larger than 100,000 sq ft high: Report

NCR, Ahmedabad, and Mumbai witnessed higher demand for offices sized between 50,000 and 100,000 square feet

DLF sells 1,137 flats in Gurugram for over Rs 8,000 crore within 3 days

Realty major DLF Ltd on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days, reflecting a strong demand for premium flats across major cities. In a regulatory filing, DLF informed that it has "witnessed record breaking pre-formal launch sales of Rs 8,000-plus crores for its luxury high-rise residences, The Arbour". DLF will build 1,137 4BHK apartments across five towers (38-39 storeys) in this 25-acre project. The project is located at Golf Course Extension Road, Sector-63 Gurugram. The project has been fully sold out within three days even before its launch, DLF said. Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, said, "Our latest luxury offering, 'The Arbour' has received a phenomenal response even before it was launched." The interest shown by discerning homebuyers in the country and overseas is clearly an endorsement of the highly aspirational DLF

M3M buys land in Noida for Rs 250 cr to develop commercial project

Real estate firm seeks top line of Rs 1,200 crore from project to be completed in 2 years

Panchshil Group Owner: Mr. Atul Chordia, the growth catalyst for Panchshil Group

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Fractional realty ownership becoming popular with retail investors: Experts

Apart from being a pocket-friendly investment avenue, it also does away with the hassles of property management such as rent collection and maintenance

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

Realty index may slip up to 7 per cent if stays beneath 400 level

Delhi-Mumbai expressway's first leg to boost Gurugram market, say realtors

It will give a huge boost to the residential and commercial market in Gurugram's Sohna and to industries, warehousing & logistics as well

Mumbai, Bengaluru among top 5 APAC cities with the steepest home price rise

Delhi was also on the list of top ten such cities with an average price rise of 6.8 per cent in the second half of 2022

With purchases worth Rs 35K crore, Indians emerge top home buyers in Dubai

This is almost double the money spent by Indians to purchase homes in Dubai in 2021

New York Life Insurance to invest Rs 290 cr in Max Group's realty project

New York Life Insurance Company will invest Rs 290 crore to acquire 49 per cent stake in an upcoming commercial project in Gurugram being developed by Max Group firm Max Ventures & Industries Ltd (MaxVIL). In September last year, MaxVIL's arm Max Estates Ltd acquired Acreage Builders at an enterprise value of Rs 322.50 crore. Acreage Builders owns 7.15 acre land at Golf Course Extension Road in Gurugram. In a statement, MaxVIL said Max Estates has completed the 100 per cent acquisition of Acreage Builders, which now has become a step-down wholly-owned subsidiary of the company. "New York Life Insurance has been onboarded as an equity investor committing Rs 290 crore in Acreage Builders," MaxVIL said. Max Estates will hold 51 per cent stake and New York Life 49 per cent stake in Acreage Builders, which has a licence to develop this commercial project. "The developable leasable area is around 1.6 million square feet with a revenue potential of Rs 160200 crore per annum," MaxVIL ...

Budget balanced, likely to boost demand in housing sector: Realty industry

"Moreover, the sustained attention on manufacturing and improvement of urban infrastructure is likely to boost the I&L sector and at the same time spur economic activity and job creation"