Page 5 - Realty

Sobha's sale bookings fall 29% annually in Oct-Dec, rise 18% sequentially

Real estate developer Sobha Ltd's sale bookings fell 29 per cent to Rs 1,388.6 crore in the quarter ended December mainly due to lesser new supply and high base effect. Its sale bookings stood at Rs 1,951.6 crore in the year-ago period. Sale bookings or pre-sale, however, increased during October-December period from the previous quarter at Rs 1,178.5 crore, according to a regulatory filing. During April-December period of 2024-25 fiscal, the Sobha Ltd's sale bookings declined to Rs 4,440.8 crore from Rs 5,140.1 crore in the corresponding period of the preceding financial year. During the entire 2023-24 fiscal, the company had sold properties worth Rs 6,644.1 crore, largely residential units. "Q3-FY25, Sobha recorded sales value of Rs 13.88 billion (1,388 crore) supported by new sales area of 1.01 million (10 lakh) sq ft at an average price realisation of Rs 13,663 per sq ft. Sales value recorded growth of 17.8 per cent compared to the previous quarter." For the first 9 months i

Residential and commercial sectors to stand as pillars of resilience

Growth is expected to be stable on the supply side as well. With a stable outlook for both demand and supply, the year-to-sales indicator for inventory will continue to remain favourable

Sales to investments: Win some, lose some for real estate in 2024

Industry expects housing supply to increase next year

Private investment in Indian real estate up 32% to $4.15 bn: Knight Frank

Indian real estate attracted USD 4.15 billion of private equity (PE) investments this calendar year, up 32 per cent annually, led by higher inflow in the housing segment, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released a report 'Trends in Private Equity Investment in India 2024'. The consultant reported that the private equity investment in Indian real estate reached USD 4,153 million in the calendar year 2024. The warehousing sector led the way, accounting for 45 per cent of total investments, followed by the residential sector at 28 per cent and the office sector at 26 per cent. During 2024, PE investments more than doubled in the residential sector to USD 1,177 million, demonstrating investor confidence in this segment which has been noting a consistent rise in end-user demand. Warehousing assets received USD 1,877 million while the office properties 1,098 million during the current calendar year. Shishir Baijal, Chairman & ...

Homes worth Rs 5.1 trn be sold across top Indian cities in 2024: JLL

Between January and September 2024, homes worth Rs 3.8 trillion were sold across the top seven Indian cities

Raymond Realty may get listed in Q2 FY26, says CEO Harmohan Sahni

Raymond Realty CEO Harmohan Sahni said the firm had six projects with three more estimated to be launched next year

Highrise hopes: Setting realty's H2 revival in stone, brick by brick

A solid launch pipeline lays the groundwork to close the cracks of H1FY25

DRA Homes targets Rs 1,000 cr revenue; signs Rashmika as brand ambassador

Real estate developer DRA Homes has set an ambitious target of generating Rs 1,000 crore in revenue by the financial year 2026-27, the company said on Sunday. DRA Homes plans to expand into the Pune market as part of its three-year growth strategy while strengthening its presence in Bengaluru. The company has also roped in popular actor Rashmika Mandanna as its national brand ambassador to fuel its growth plans. DRA Homes reported revenues of Rs 300 crore in FY2023-24 and is projected to achieve Rs 500 crore in FY2024-25. DRA unveiled its strategic growth plan to achieve Rs 1,000 crore in revenue by FY2026-27. On track to achieve Rs 500 crore in revenue for FY2024-25, the company plans to drive its growth over the next three years by entering the Pune market and expanding its presence in Bengaluru by the next financial year, according to a statement released on Sunday. Additionally, DRA Homes plans to strengthen its presence in Chennai by adding 2.7 million square feet of space ..

Realty firm Signature Global to recognise Rs 10k cr revenue by Mar 2026

Realty firm Signature Global is targeting to deliver 16 million square feet area to its customers by March 2026, helping the company recognise around Rs 10,000 crore revenue in the books of accounts. Signature Global is one of the leading real estate companies in the country. It has a significant presence in Gurugram. In an interview with PTI, Signature Global Chairman Pradeep Aggarwal said the company had given a guidance of Rs 3,800 crore worth revenue recognition in the current fiscal year. Out of this, he said the company has already booked revenue worth Rs 1,200 crore in the first half of this fiscal. He exuded confidence that the Rs 3,800 crore guidance would be easily achieved. "We are targeting to deliver around 16 million square feet area to customers by end of the next 2025-26 fiscal," he said, adding the company is investing a lot on construction activities. These 16 million square feet area covers 25 real estate projects, mostly housing. Aggarwal said the completion o

Ajmera Realty & Infra cuts debt by Rs 100 cr, down to nearly Rs 700 cr

Ajmera Realty & Infra India Ltd on Thursday said it has repaid Rs 100 crore of its corporate debt and accordingly the outstanding debt has been reduced to Rs 693 crore. The Mumbai-based company in a regulatory filing said it has "repaid Rs 100 crore of its corporate debt. The repayment is facilitated from the funds raised through the recent equity offering of Rs 225 crore." The debt reduction ahead of its scheduled due date is expected to help the company post better returns on grounds of lower interest payments on existing debt, the company said. "Outstanding debt has been reduced from Rs 793 crore (as per 2QFY25) to Rs 693 crore," Ajmera Realty said. The company plans to use the equity funds to accelerate its momentum for project launches, and to further strengthen its corporate functionalities. "This is a strategic move towards de-leveraging, and we are glad to reduce our corporate debt significantly. This exercise will help ease our debt-equity ratio and reinforce the ...

Signature Global to beat estimate of Rs 10,000 cr on high demand: Chairman

Realty firm Signature Global Ltd is likely to exceed its sales bookings target of Rs 10,000 crore on strong housing demand in Gurugram property market, its Chairman Pradeep Aggarwal said. In an interview with PTI, he highlighted that the company has achieved Rs 5,900 crore worth sales bookings in the first half of this fiscal. "We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal. We were among few listed real estate developers to set such a big target," Aggarwal said. Considering the strong performance in the first six months, he said, "We are quite hopeful of over-achieving of our annual guidance." There is a strong launch pipeline for the second half of this fiscal, he said, adding the inventories in new as well as existing projects would help in achieving the taret comfortably. Signature Global's sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the correspondin

Interarch Building Products plans to double turnover to Rs 2,500 cr by 2028

Interarch Building Products, a leading player in the pre-engineered building industry, is planning to double its turnover to Rs 2,500 crore by 2028, Managing Director Arvind Nanda has said. The company, which got listed recently, clocked a turnover of Rs 1,293 crore in FY24. Interarch Building Products, which raised Rs 600 crore through the initial public offering (IPO), is planning to use the proceeds for capital expenditures, system upgrades, and general corporate purposes. "In our existing three plants, we are also trying to enhance capacity by spending some money there and increasing the capacity utilisation," he said. He further said by building its fourth fully integrated plant in Andhra Pradesh, the company plans to further ramp up its capacity. "We have also bought land in Gujarat, which is going to be a our fifth fully integrated plant, probably starting next year," Nanda said. The company had in September announced the acquisition of 51,926 sq mt land in Gujarat, procur

Anarock FY25 revenue may rise 40% on strong housing demand: Chairman Puri

Real estate consultant Anarock Group is targeting over 40 per cent increase in revenue this fiscal year to Rs 800 crore mainly on the back of strong housing demand fuelled by high economic growth, its Chairman Anuj Puri said on Sunday. Mumbai-headquartered Anarock had posted a 36 per cent increase in revenue to Rs 566 crore in the last fiscal year. Homegrown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm. In an interview with PTI, Puri said the company is likely to achieve a revenue of Rs 800 crore in the current fiscal year. Of the total revenue, Puri said about Rs 575 crore will come from housing brokerage services. Puri said the remaining revenue will come from land deals, capital market transactions, strategic consulting and project management besides leasing activities in office retail, data centre, and warehousing segments. Asked about the reasons for growth, he said the overall Ind

Merlin Group executing Rs 20,000 cr projects, revenue to double in 7-8 yrs

Merlin Group, Kolkata's largest real estate developer, is currently executing projects worth Rs 20,000 crore, which are expected to double its annual revenue over the next 7-8 years, a senior official said on Monday. The announcement coincided with the unveiling of the company's new brand identity. "We have been growing steadily year on year for the past 40 years. The group is currently developing 40 million square feet that is projected to yield a total sales of Rs 20,000 crore in the coming 7-8 years," Merlin Group managing director Saket Mohta said. The current annual revenue of Merlin Group is about Rs 1500 crore, he stated. Merlin Group, with an existing portfolio of luxury residential complexes, commercial spaces, and sustainable townships across multiple cities, has executed a cumulative 20 million square feet of development over the last four decades. Currently, 30 million square feet is under development in Kolkata and nearby areas alone, out of the total 40 million squar

DLF's sales bookings rise 66% to Rs 7,094 cr in Apr-Sept despite weak Q2

Realty major DLF's sales bookings increased 66 per cent to Rs 7,094 crore in the first half of this fiscal on strong housing demand. Its sales bookings stood at Rs 4,268 crore in the year-ago period. The company has been able to achieve growth in sales bookings during the April-September period of this fiscal because of the robust performance in the first quarter. DLF's sales bookings jumped over three-fold to around Rs 6,400 crore during the first quarter of this fiscal from Rs 2,040 crore in the year-ago period. However, in the second quarter of 2024-25, the sales bookings fell 69 per cent to Rs 692 crore from Rs 2,228 crore a year ago. In an investor presentation, DLF pointed out that there has been a "moderation in sales on account of delay in receiving requisite approvals for new product launches". In the current quarter, the company has received approval for its super-luxury housing project 'The Dahlias' at DLF 5, Gurugram. "We remain on track to meet our guidance for the

Mindspace REIT's net operating income rises 5% to Rs 503 crore in Q2

REIT's net profit declined by 11.03 per cent YoY to Rs 125.63 crore, missing the Bloomberg estimate of Rs 164.1 crore

Arkade Developers eyes Rs 4,000 crore topline from ongoing projects

The company will launch a project in Thane with an estimated revenue potential of Rs 2,000 crore in FY2026

Aditya Birla Real Estate's Q2 total income rises 30% to Rs 1,130 crore

The company's net profit for the quarter stood at Rs 2.82 crore against the loss of Rs 32.87 crore it incurred in Q2 FY24

Real estate remains most preferred asset class for investment: Report

According to a survey by FICCI and Anarock, 59% of respondents across 14 cities favoured real estate as the most preferred asset class

FPCE writes to govt seeking realty-specific rules for homebuyers' interest

Homebuyers' association FPCE has written to consumer affairs ministry to frame specific guidelines for the Indian real estate sector to curb unfair trade practices and protect consumers' interest. Forum For People's Collective Efforts (FPCE) President Abhay Upadhyay has written a letter to Consumer Affairs Secretary Nidhi Khare, requesting her to issue "real estate sector specific guidelines under Consumer Protection Act 2019 to curb the malpractices prevalent in the sector and to save the consumers of the sector from being duped and cheated by developers." The association pointed out that the consumer forums constituted under Consumer Protection Act 2019 comprises about 10 per cent of their complaints from the consumers of real estate sector. As per the government statement in the Lok Sabha, more than 50,000 such complaints are pending before consumer forums as on July 31, 2024. In terms of value of such cases, it will be more than 10 per cent since transactions in the real estate