MANAS PROPERTIES LTD Q2 RESULTS
Housing sales fell by 6% during the April-June quarter
Housing sales in India's top markets dip by 6% in Q2 2024, except for Bengaluru and Delhi-NCR. Anticipation of a pro-investment budget post-election impacts buyer decisions. New supply decreases slightly by 1%. MMR, Pune, and Bengaluru dominate both sales and new launches. Thane West, Panvel, and Dombivali emerge as top localities for sales and launches.
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Office leasing surges to new record in first half of 2024
The Indian office property market has shown strong performance in the first half of the year, driven by economic resurgence and increased corporate occupancies, with technology and banking sectors leading the way. Gross leasing hit a record high of 33.5 million sq ft, up 29% from last year, setting the stage for a potential new peak in 2024. GCCs played a key role in this growth, with India's leadership in the GCC ecosystem remaining strong.
India office property market surges with record gross leasing in 2024 first half
The Indian office property market has surged, driven by increased economic activity and corporate occupancies, reaching a record 33.5 million sq ft in gross leasing in the first half of the year. Global Capability Centres (GCCs) significantly contributed, with strong leasing momentum across major cities, indicating potential for a record-breaking 2024.
Under-construction housing prices increase 15.2% in June quarter
Residential real estate supply surged in June quarter driven by under-construction properties, prices rose 11.7% and 15.2% sequentially, surpassing ready-to-move-in prices in Gurugram, Mumbai, Noida, and Thane.
Go Digit shares rally 10% after reporting Q4 PAT soars 104% YoY
Go Digit General Insurance shares surged 10% to a record high of Rs 372.35 after reporting robust Q4 results. PAT soared 104% YoY to Rs 53 crore. Q4 gross written premium rose nearly 19% YoY to Rs 2,336 crore. FY net profit jumped 405% to Rs 182 crore, with gross written premium up 24.5% YoY to Rs 9,016 crore.
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Go Digit Q4 Results: PAT jumps 104% YoY to Rs 53 crore; gross written premium up 19%
The net profit stood at Rs 182 crore for the full financial year as against Rs 36 crore in FY23, recording a 405% jump. The gross written premium for the full financial year stood at 9,016 crore versus Rs 7,243 crore in FY23.
Robust housing demand helps in faster inventory liquidation
Residential property markets in the top seven cities - Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Kolkata - have witnessed a significant 31% decrease in the time taken to sell active unsold housing inventory, showed a JLL analysis.
India's top 7 cities see 31% decline in time to liquidate unsold housing inventory
According to him, time needed to sell the unsold inventory in the premium segment has dropped from 51 months in 2019 to 29 months in the first quarter of 2024, showcasing the strong sales momentum in this segment. Apartments belonging to ticket size category of Rs 3 crore and above, have also witnessed a 11% reduction in time to sell during the same time.
Prestige Estates Q4 Results: Profit plunges 70% YoY to Rs 140 crore
Prestige Estates Projects Ltd has posted 70 per cent decline in consolidated net profit at Rs 140 crore for the quarter ended March 2024 on lower income. Its net profit stood at Rs 468.4 crore in the year-ago period.
ITC to seek shareholder approval on June 6 for hotels biz demerger
As part of the demerger, which will unlock value for its 36 lakh shareholders and also improve the capital allocation of the parent company, ITC will own 40% of ITC Hotels. The remaining 60% will be owned by ITC shareholders in proportion to their ownership in the parent entity.
Improving asset quality, reach to keep Jana SFB on growth path
JSFB provides micro financing, secured business loans, loans against property, micro, small and medium enterprises loans, loans against deposits and gold, and loans to finance companies. The bank strives to reduce reliance on unsecured loans by expanding the portfolio of secured loans. At the end of March 2024, its total loan book was worth Rs 24,746 crore.
Keystone Realtors Q4 Results: Net profit falls 60% YoY to Rs 31 cr; FY24 profit up at Rs 112.21 cr
Realty firm Keystone Realtors Ltd on Wednesday reported a 60 per cent fall in consolidated net profit to Rs 30.68 crore for the March quarter while its FY24 profit rose 36.92 per cent to Rs 112.21 crore. Its net profit stood at Rs 76.59 crore in the year-ago period.
MakeMyTrip Q4 Results: Company posts profit of $ 171.9 million up from $ 5.4 million a year ago
MakeMyTrip reported a revenue of $ 782.5 million for financial 2024, up from $ 593 million in fiscal year 2023. The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023.
DLF Q4 Results: Net profit jumps 62% YoY to Rs 920.71 crore
Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to Rs 920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at Rs 570.01 crore in the year-ago period.
Godrej Properties Q4 Results: Net profit rises 14% YoY to Rs 471 crore; revenue falls 13%
Godrej Properties Q4 Results: Godrej Properties' Q4 net profit rose 14% YoY to Rs 471 crore. Revenue fell 13%. Co recorded the highest quarterly sales at Rs 9,519 crore. Godrej Zenith, Gurugram achieved Rs 3,008 crore booking value.
Q4 results today: Titan, Britannia, Adani Green among 49 companies to announce earnings on Friday
Q4 results today: 49 companies, including Titan and Adani Green, to reveal Q4 results. Titan foresees 18% revenue growth and 13% net profit rise. Watch out for updates from Titan, Britannia, MRF, Tata Tech, and other key players.
Cholamandalam Investment Q4 Results: Net profit jumps 24% YoY to Rs 1,058 crore
Total loan disbursements increased 18% year-on-year during the quarter to a record Rs 24,784 crore in March 2024 from Rs 21,020 crore a year ago. Net profit for the year ended March 2024 increased 28% to Rs 3,423 crore from Rs 2666 crore a year earlier.
Q4 results this week: Adani group to lead as 211 companies will declare earnings
With 211 companies announcing quarterly results this week, investors are particularly watching out for major names like Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, and many others across various industries.
Deutsche Bank Q1 Results: Profit jumps 10% as investment bank outperforms
Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division.
Kering Q1 Results: Gucci-owner posts 10% drop in sales on sluggish Chinese demand
The group said its first half operating profit would be "sharply lower" due to the revenue decline and its ongoing investment in its brands. Sales for the three months ending in March stood at 4.5 billion euros ($4.82 billion), down 10% on a comparable basis.
Wipro Q4 results; RBI nod for Cred’s payment aggregator biz
IT services major Wipro saw an 8% fall in its consolidated net profit in the March quarter. This and more in today’s ETtech Top 5.
Network18 Q4 Results: Loss widens to Rs 96 crore; revenue jumps 63% YoY
Network18 Q4 Results: Segment-wise, TV news reported strong revenue growth during the quarter and full year, driven by an increase in advertising revenue across clusters.
Walmart's earnings shine as it preps $2.3-billion Vizio acquisition
Shares in the retail giant rose 6% to a record high of $180.31 in early trading after it also gave an upbeat annual sales forecast and announced a 9% rise in its dividend, the biggest increase in more than a decade.
Godrej Properties Q3 net profit up 6%, total income rise 43% on year
Sales bookings rose 76% from a year ago to Rs 5,720 crore during the quarter and 59% to Rs 13,008 crore in the first nine months of 2023-24. Booking value in the first three quarters was 106% of booking value for the entire 2022-23, which was the company's previous best-ever year.
Raymond Q3 Results: Profit almost doubles to Rs 185 crore
Diversified group Raymond on Thursday said its consolidated net profit in December quarter FY24 almost doubled to Rs 185.39 crore on strong growth in real estate and branded apparel businesses.
Q2 results this week: Adani Ports, Tata Power, LIC, RVNL, M&M and others
Power Grid, Shree Cements, Trent, Zydus Lifesciences, Info Edge (India), Indian Railway Catering & Tourism Corporation, Cummins India, Alkem Laboratories, UNO Minda, Prestige Estates Projects, among others will release their Q2 earnings on November 7
Godrej Properties Q2 Results: Net Profit rises 22% YoY to Rs 67 crore
Godrej Properties reported over two-fold jump in sales bookings to Rs 5,034 crore during the September quarter. Its net profit stood at Rs 54.96 crore in the year-ago period.
Jio Platforms Q2 Results: Net profit rises 12% on-year to Rs 5,297 crore; costs, no rate hikes weigh
The Reliance Industries subsidiary posted a 10.7% increase in revenue from operations on-year at Rs 26,875 crore, led by a strong increase in subscriber base growth across mobility and homes and scale-up of digital platforms, the company said Friday
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