REAL ESTATE FIRMS
PE investment in real estate hits $2.5 bn in Q2, a 3-year high
Institutional investments in India's real estate sector surged to a three-year high of $2.5 billion in the June quarter, primarily driven by robust activity in the industrial and warehousing, and residential segments, according to Colliers. The industrial and warehousing segment attracted the majority of investments at $1.5 billion, marking an 11-fold increase from Q2 2023, while the residential segment also experienced significant growth. Conversely, investments in the office sector plummeted 83%. Foreign investors, particularly from the US and UAE, were prominent contributors in the market, indicating a positive outlook for the industry.
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is witnessing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
Puravankara acquires a 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore
Real estate developer Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, for a luxury project, adding a potential GDV of over Rs 900 crore. With recent acquisitions in Mumbai, the group's total GDV is now Rs 1,550 crore. Strategically located near Electronics City, Hebbagodi is ideal for residential developments, catering to IT professionals. Puravankara plans to acquire 20 million sq ft of land by year-end for growth in Mumbai, Bangalore, and Delhi-NCR.
Godrej Properties buys 7-acre land in Bengaluru to build housing project worth Rs 1,200 cr
Godrej Properties has acquired a 7-acre land in Thanisandra, North Bengaluru, for developing a luxury housing project. The project is expected to yield around 9 lakh square feet of residential space, with an estimated revenue of Rs 1,200 crore. In a separate development, the company will also develop an 11-acre land parcel in Hinjewadi, Pune, focusing on group housing and high street retail, with a projected revenue of approximately Rs 1,800 crore.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
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Concorde acquires 1.6 acre land in Bengaluru
Concorde, a real estate developer based in Bengaluru, has purchased a 1.6-acre land parcel situated on Sarjapur Road in the city. This joint development project is slated to become a high-end residential complex with an estimated gross development value (GDV) of Rs 200 crore. Earlier in March, Concorde also acquired a 4.5-acre plot in Thanisandra, Bengaluru.
Investing in commercial real estate: How to earn attractive regular income by investing in commercial real estate via fractional ownership platform
As fractional ownership gains traction and becomes increasingly popular, retail investors must run a few checks before investing in CRE assets via this route. Here are some factors that one must consider.
Sattva Group to invest Rs 12,000-14,000 crore in diversification over next three years
“The funding for the initiative will be structured with a combination of equity, debt and sales. Approximately 20% of the funding will be in equity, while the remainder will be sourced from debt and sales proceeds,” he told ET. “Our approach to debt is highly prudent and disciplined. The company's primary focus lies on commercial and residential projects, which form the bulk of our portfolio.”
How MSMEs can boost India's real estate market
With streamlined regulations and increased credit access, MSMEs have the potential to boost India's real estate sector.
Prestige One appoints Colliers Project Leaders as project manager
This strategic agreement underscores Prestige One's commitment to maintaining its top position in the real estate market by leveraging the expertise of renowned global firms.
New home supply falls 13 pc in Apr-Jun as builders launch fewer projs due to polls: PropEquity
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period.
Prestige Estates board okays proposals to raise Rs 5,000 crore
The Bengaluru-based company may either consider creating a real estate investment trust - which could be the first hotel REIT in India - or pursue an initial public offering to monetise the hospitality business. In April, ET was the first to report Prestige Estates' plan to monetise the business. "The firm is also currently evaluating to monetise its hospitality portfolio, which will lead to some value unlocking," Zaid Sadiq, executive director of hospitality at the Prestige Group had said. He could not be reached for comment.
Daibiru creates Gift City fund with Hines, invests Rs 1,000 crore in Gurgaon building
Daibiru Corporation, a subsidiary of Mitsui O.S.K. Lines, has invested Rs 1,000 crore in an upcoming office complex in Gurgaon developed by DLF and Hines. This investment facilitated the exit of Abu Dhabi Investment Authority (ADIA), with Hines holding a 33% stake in the joint venture. The project, named Atrium Place, spans 2.88 million square feet across 11.76 acres and is slated for completion in 2025.
Impact of GCC boom; Infosys staffers cling to WFH in FY24
Happy Thursday! The explosive growth in India's global capability centres (GCC) has benefited the real estate, staffing, and infra sectors. This and more in today’s ETtech Morning Dispatch.
Cushman & Wakefield launches advisory platform to help firms set up capability centres
Global property consultant Cushman & Wakefield on Wednesday announced the launch of an integrated advisory platform to help multi-national companies set up Global Capability Centres (GCCs) in India, Philippines and some other countries. At present, there are around 1,600 GCCs operational in India and the number is expected to rise exponentially to more than 2,400 by 2030.
MyGate founder Vijay Arisetty joins Aurm as founder and CEO
Veteran armed forces member and MyGate founder Vijay Arisetty has been appointed as founder and CEO of Aurm, an asset protection firm in Mumbai. Arisetty aims to address the gap in safe-deposit locker availability in India by offering state-of-the-art, technology-enabled solutions with military-grade security infrastructure. Aurm partners with banks and real estate developers to provide secure, automated locker services.
Realty Co Total Environment has raised Rs 1600 crore from top lenders
Total Environment has paid off approximately ₹2,070 crore of debt raised from top-tier financial institutions, driven by robust residential sales.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
Builders want reduction in repo rate in RBI's next monetary policy to boost housing sales
Real estate developers urged the RBI to lower the repo rate in the upcoming monetary policy to reduce home loan interest rates and stimulate housing demand, as the RBI maintained the rate at 6.50%. Industry experts anticipate potential rate cuts in the future to boost the real estate sector further amid strong market performance.
Unsold housing stock up 24 per cent in top 7 cities, builders need 22 months to sell: Report
Unsold housing stocks in seven major cities have risen by 24 per cent since 2019, totaling about 4,68,000 units in March 2024. However, realty firms are expected to sell them 31 per cent faster due to high sales velocity, according to JLL India. The time to sell the active unsold inventory has decreased from 32 months in 2019 to just 22 months in Q1 2024, driven by a surge in housing demand.
PropTech investment reaches $4.6 billion since last decade
PropTech firms have seen a significant growth in investment since FY 2011, with a total of $4.6 billion in the last 14 years. This growth is attributed to the transformative impact of technology on the real estate industry, driving efficiency and innovation. Despite global economic uncertainties, PropTech firms' funding experienced a marginal dip in FY 2024, with investments totaling $657 million, down from $683 million in FY 2023. The shared economy and construction technology segments have emerged as leaders in the PropTech space, with 55% and 23% of the overall private investments in FY 2024, respectively.
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down.
Properties worth Rs 1.17 lk cr sold by 18 listed realty firms in FY24; Godrej properties at top
Major real estate developers in India, including Godrej Properties, Prestige Estates Projects, and DLF, achieved significant sales bookings in the last fiscal year driven by strong demand for residential properties, especially luxury homes.
Brigade Enterprises Q4 Results: Profit jumps nearly 3-fold to 206 crore
Realty firm Brigade Enterprises Ltd on Tuesday reported a nearly three-fold jump in consolidated net profit to Rs 206.09 crore for the March quarter on the back of higher income. Its net profit stood at Rs 69.25 crore in the year-ago period.
Yuvraj Singh sends notices to real estate firms for infringement of privacy, delayed home possession
According to the notice, the cricketer had booked a dwelling unit in 2020 at Hauz Khas, New Delhi in one of the projects of a real estate firm. M/s Brilliant Etoile Private Limited and M/s Uppal Housing Private Limited are the noticees in one of the legal notices pertaining to the delayed possession of the dwelling units.
Aurum Analytica: Transforming real estate with Data Science and AI
Aurum Analytica, a data analytics firm in real estate, uses data science and AI. CEO Prakash Tejwani and co-founders Sahil and Vishal discuss the company's mission and growth.
Daughter of Divi's founder shells out Rs 80 crore for two Hyderabad properties
Nilima Prasad Divi, daughter of Murali Divi, the founder of Divi's Laboratories, a prominent pharmaceutical company in India, has recently acquired two properties in Hyderabad, totaling Rs 80 crore. The first property, located in Jubilee Hills, spans 12,000 sq ft with a built-up area of 200 sq ft. The second property, also covering 12,000 sq ft, was acquired for a similar amount from Moturi Surya Kamal Prasad, according to the sale deed documents provided by Zapkey.
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