Page 8 - Realty

Connectivity to infra push turning smaller cities into real estate hotspots

In cities like Meerut, where multiple infrastructure projects are underway, developers have already acquired land for future projects two to three years in advance

Digital property: Proptech startups are gearing up to ride the AI wave

From property listings and transactions, to their management, and development, proptech startups are now present in various aspects of the realty sector

India to be a top global commercial realty market: Anshuman Magazine

Last year, there was an absorption of 16.4 million square feet, one of the highest globally. In 2022, the absorption was 57.9 million sq ft, and this year is also expected to be strong

The housing finance sector will only grow: PNB Housing Finance MD & CEO

The real estate cycle is about 7-8 years. The demand for housing is always increasing, and so is housing shortage. With the government's focus on housing, the housing finance sector will only grow

How green is my building: Demand for sustainable homes, offices is rising

Amid increasing concern for the health of the planet, sustainability is emerging as more than just a trendy buzzword for developers

Trans Harbour Link a game changer for realty: Credai-MCHI President

Credai-MCHI has proposed a separate affordable housing index for metropolitan cities like Mumbai, removing the Rs 45 lakh price cap and declaring all houses up to 60 sq m as affordable

Luxury is a small percentage of any developer's portfolio: Tariq Ahmed

Technology also enables home management through applications, including automation, guest access, and security. These are the key themes and trends we are seeing in terms of what people want

Smart landing: What to keep in mind when investing in real estate

While prices remained stagnant (2015 to 2021), incomes rose, enhancing affordability. This bodes well for the housing sector in a country facing a shortage of 20 million houses

Developers are curtailing affordable housing projects amid weak margins

According to PropEquity, new launches in the affordable housing segment have fallen over the last two years in both Tier-I and Tier-II cities

HFCs see realty sector expanding with tech adoption and govt backing

Housing finance companies underscore their healthy capital positions amidst heightened investor interest in the segment

Emami Realty Q4 results: Consolidated net loss at Rs 70.38 cr on expenses

Emami Realty on Thursday reported a consolidated net loss of Rs 70.38 crore in the quarter ended March on higher expenses. Its net loss stood at Rs 15.30 crore in the year-ago period. Total income fell to Rs 29.97 crore in the fourth quarter of the last fiscal from Rs 45.61 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24 fiscal, the company's net loss stood at Rs 122.93 crore as against a loss of Rs 38.63 crore in the preceding year. Total income also declined to Rs 99.32 crore in the last fiscal from Rs 131.29 crore in the 2022-23 fiscal. Emami Realty is part of business conglomerate Emami Group.

Shriram Properties Q4 results: Consolidated net profit up 32% at Rs 20 cr

Realty firm Shriram Properties reported a 32 per cent increase in consolidated net profit to Rs 20.18 crore for the March quarter on higher income. Its net profit stood at Rs 15.25 crore in the year-ago period. Total income rose to Rs 358.37 crore in the fourth quarter of the last fiscal from Rs 170.98 crore in the March quarter of FY23, according to a regulatory filing on Wednesday. During the 2023-24 fiscal year, the net profit rose to Rs 75.43 crore from Rs 65.97 crore in the preceding year. Total income grew to Rs 987.35 crore in the last fiscal from Rs 813.93 crore in the 2022-23 financial year. Murali M, CMD of Bengaluru-based Shriram Properties, said, "Supported by our strong market presence and success of strategic initiatives, we are confident of sustaining growth and profitability in the coming years." "Our robust launch pipeline, strong execution platform coupled with continued focus on cost management and commitment to delivering quality will support towards this end,

Realty firm Sobha looking to up equity capital to Rs 10,000 cr in 5 yrs

Realty firm Sobha Ltd is looking to increase its equity capital by four times to Rs 10,000 crore over the next five years to support future expansion plans and is set to launch a rights issue this fiscal year to raise around Rs 2,000 crore. Bengaluru-based Sobha Ltd is part of Sobha Group that was founded by PNC Menon in 1995. The Group has real estate business in Dubai under an entity named Sobha Realty. The Group is planning to enter the US property market as well. Sobha Ltd's board has approved the company's proposal to launch rights issue for an amount not exceeding Rs 2,000 crore. "We want to increase the equity of the company. So the purpose of bringing the rights issue is to provide money into the company so that we can fund the growth," Sobha Ltd Chairman Ravi Menon said in an interaction with reporters in Dubai recently. Post rights issue to eligible equity shareholders of the company, the equity capital base would increase to Rs 4,500 crore from Rs 2,500 crore ...

Goswami Infratech sweetens offer to bondholders, in return for more time

Goswami Infratech is an investment company within the Shapoorji Pallonji group under billionaire Shapoor Mistry. Its projects include apartments, warehouses, parking spaces and shops

Average home prices in India up 10% in first quarter this year: Report

3% increase in unsold inventory in top eight cities of the country, it says

Signature Global aims to sell Rs 10,000 cr worth homes in FY25, up 38%

Realty firm Signature Global Ltd has set a target to sell housing properties worth Rs 10,000 crore in 2024-25, up 38 per cent from the last fiscal, as it expects demand for residential assets to remain strong. In its investors presentation, the company has given a guidance of Rs 10,000 crore for sales bookings in the current fiscal. The company's sales bookings more than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore in the preceding year. The company, which is mainly developing projects at Gurugram in Haryana, sold 4,619 units last fiscal as against 4,512 units in 2022-23. In terms of area, Signature Global sold 6.18 million square feet in 2023-24, up from 4.35 million square feet in the preceding years. Sales realisation for 2023-24 averaged Rs 11,762 per square feet compared to Rs 7,886 per square feet in the previous fiscal. Pradeep Kumar Aggarwal, Chairman of Signature Global, said, "The financial year 2023-24 marked a significant period for our company, characteri

Macrotech Developers to invest Rs 3,500-4,000 cr to acquire land parcels

Realty firm Macrotech Developers Ltd will invest Rs 3,500-4,000 crore this fiscal to acquire new land parcels, outright and through joint development agreements with landlords, to build housing projects as part of its expansion plan to encash a surge in demand for residential properties. Macrotech Developers, which markets its properties under Lodha brand, is one of the leading developers in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune, while the company has just entered the Bengaluru market. According to a transcript of earning calls with analysts, Macrotech Developers Managing Director and Chief Executive Officer Abhishek Lodha said the company will invest Rs 3,500-4,000 crore on new business development, which means acquiring land parcels for future development. The total spend on "new business development" will be about "Rs 35 to 40 billion", he said, adding that there would be some outflow for land acquired in previous years. In the case of

SC issues notice to Centre over petition on imposition of GST on JDA

The Telangana High Court had held that JDA is different from an agreement for the sale of land and therefore the rights under this should be taxed

Embassy Group sales bookings up 85% to Rs 2,250 cr on better housing demand

Realty firm Embassy Group on Thursday said its sales bookings rose 85 per cent in the last fiscal year to record Rs 2,250 crore on strong housing demand. In a statement, the company said it achieved best-ever performance in the 202324 fiscal year for its residential business, with sales transaction value of Rs 2,250 crore -- an 85.5 per cent jump from the preceding year. Embassy Group sold 21.18 lakh sq ft, achieving a year-on-year growth of 103 per cent in area sold. This was primarily fuelled by interest from high net-worth individuals (HNIs) and non-resident Indians (NRIs) in ready-to-move-in luxury projects, the company said. Embassy Group COO Aditya Virwani said, "WAs we anticipate a sustained upcycle in the country's housing market in the coming years, we are committed to maintaining this momentum." With housing demand, increasingly consolidating towards Grade A developers, he said the company would replicate its success in the office segment to residential business. "We ha

Macrotech to invest Rs 5,000 cr on construction of realty projects: MD

Realty firm Macrotech Developers will step up its investment this fiscal year on construction of projects to over Rs 5,000 crore in line with growth in sales and new supply, its MD and CEO Abhishek Lodha said. Macrotech Developers, which sells properties under the Lodha brand, is targeting to deliver more than 10,000 apartments during 2024-25, he said. In an interview with PTI, Lodha highlighted that the company achieved all its major targets for 2023-24 related to pre-sales, new land acquisition and debt reduction amid strong housing demand. He noted that demand would sustain as India's housing sector is probably in the third year of a long-term upcycle, driven by high economic growth and rising consumer preference towards home ownership over renting. Lodha said the company would be launching more projects and also adding more land for future development to maintain "consistent and predictable" growth trajectory. Asked about guidance for construction spend, he said, "We spent aro