REAL ESTATE UPDATE
Prestige Estates sees 22% sales dip in Q1 FY25 due to election delays
Prestige Estates Projects Limited experienced a 22% decrease in sales for Q1 FY25 at Rs 3029 crore, largely due to the general election and delays in project approvals. The sales volume decreased from 3.83 million square feet to 2.86 million square feet. Despite this, the company crossed a sales figure of Rs 3,000 crore.
Banks may not do well in Q1 and even Q2; be selective in consumer bucket: Dipan Mehta
The banking sector may see disappointing earnings due to challenges in net interest margins and rising provisions, says Dipan Mehta, Director, Elixir Equities. FMCG and traditional consumption stocks are under pressure, while airline companies like IndiGo show positive long-term prospects. Electric two-wheelers, particularly from Ola Electric, are expected to disrupt the industry.
Block deals worth over Rs 9,947 crore this week. HDFC Bank, Infosys, Adani Ports among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals worth Rs 5,725 crore led by HDFC Bank with 43 block counts totalling to Rs 2,446 crore. The next in line were Adani Ports and Special Economic Zone (Rs 469 crore), Godrej Consumer (Rs 421 crore), TVS Motor Company (358 crore), Infosys (Rs 339 crore), Interglobe Aviation (Indigo, Rs 288 crore) and Maruti Suzuki (Rs 218 crore).
Pankaj Pandey on 2 sectors that are likely to see strong Q1 earnings
Raymond specifically, we do not have a coverage. But I think you have very few stocks which can be bought at current levels in real estate given the price appreciation a lot of these stocks have seen. So, some bit of a time correction or price correction is what we are waiting for.
Best approach for self-redevelopment of a real estate project: 7 things to know
Find out if you, as a society member, should embark on this ambitious project or leave it to the developer.
Politically correct stocks: Government push on increasing rural income may act as tailwind for these 4 stocks
While the government’s decision to push for policies which help in increasing rural incomes has been in place for some time. But given the fact that any change in the rural income matrix is a time consuming process, there can be a mismatch of expectations and times. There is a high probability that in the coming years there could be more policy push to increase rural incomes. Yes, the reason could be that the government wants to get its political capital back. Whatever might be the reason, the stakeholders of the systems are likely to be benefited. Now traditionally we think it is agriculture which will be the focus, but there is more to the rural economy, beside agriculture. We take a look at 4 companies where fortunes are tied to agriculture and other parts of the rural income.
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Stock market update: Nifty Bank index advances 0.75%
The Nifty Bank index closed 0.75 per cent up at 51783.25.
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 51.0 points up at 23567.0
Stock market update: Nifty Auto index falls 0.45%
The Nifty Auto index closed 0.45 per cent down at 25267.85.
Stock market update: Nifty Realty index advances 2.02%
The Nifty Realty index closed 2.02 per cent up at 1140.3.
Stock market update: Nifty Pharma index falls 0.51%
The Nifty Pharma index closed 0.51 per cent down at 19544.55.
Stock market update: Nifty IT index advances 0.03%
The Nifty IT index closed 0.03 per cent up at 34936.45.
Hungary to relaunch Golden Visa as Guest Investor Program on July 1
Hungary relaunches its Golden Visa Program as the Guest Investor Program (GIP) for non-EU/EEA nationals, offering residency through real estate investments or donations. The program grants visa-free travel across the EU and extends permits to family members. Hungary's new immigration law introduces changes and delays in implementation.
Past reforms will continue to drive economy over next 2 years: Neelkanth Mishra
In fact, with the RBI dividend being significantly better than what was budgeted, I would not be surprised if in the July budget, the government chooses to bring down its FY25 fiscal deficit target from 5.1% to 4.9% because that money is there.
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.
Puravankara Q4 Results: Loss narrows to Rs 7 crore YoY; revenue shoots up 112% YoY
The firm has launched 12 projects with a saleable area of 9.47 million square feet, reinforcing its expansion into high- potential micro-markets for the fourth quarter (Q4FY24) ending March 31, 2024.
Colonial Q1 Results: Net profit doubles on inflation-linked contracts, high occupancy
Its portfolio, which includes buildings in Spain and France, rose 6% in like-for-like rental income as lease contracts were adjusted upwards due to high inflation.
Get the buying list ready or keep your powder dry? Rahul Shah answers
Rahul Shah, VP-Equity Advisory at MOFSL, analyzes market trends, emphasizing financial sector performance and recent corrections. He highlights earnings season outliers, including tech sector struggles and notable results from private banks like Axis and ICICI. Shah says: "Volatility has continued but I would start deploying or maybe we will stay invested. "
This is the time to have more asset-heavy stocks & sectors. Ishmohit Arora explains why
Ishmohit Arora discusses the shift from asset-light to asset-heavy businesses due to inflation. He analyzes sunrise industries, power transmission capex, and advantages for incumbents in asset-heavy sectors during inflationary periods. Arora says: "Asset-heavy businesses are sitting on operating leverage, financial leverage, and a non-linear jump in profitability will be seen."
REITs, InvITs mobilise Rs 1.3 lakh crore in four years: RBI data
Experts and stakeholders are of the view that with India growing at a fast pace, REITs and InvITs are emerging as alternative investment instruments, especially for high net-worth individuals.
We have exited Paytm, Zee; go for these 3 stocks now: Sanjiv Bhasin
Sanjiv Bhasin advises on market caution amidst potential toppish indications, discusses financial outlook, buying opportunities, UPL divestment, GAIL performance, Indiabulls Real Estate capital infusion, share price targets, and banking sector performance. Bhasin also says that they have exited Paytm and Zee as their underperformance could continue for a longer time.
Here's how Bengaluru's water crisis has affected real estate sales as per Knight Frank report
Housing sales in Bengaluru have slightly decreased by 2% to 13,133 units compared to 13,390 units last year, mainly due to reduced sales in the affordable housing category. The office space demand in the IT city remained steady at 3.5 million square feet, according to a report by Knight Frank. Sales in the less than ₹50 lakh housing segment dropped by almost 65% to 70%, while sales in the ₹50 lakh-₹1 crore segment dipped by 7%. However, sales of houses in the more than ₹1 crore segment increased by almost 50%.
MahaRERA proposes each real estate project maintains 3 bank accounts
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed draft guidelines requiring real estate projects to maintain three bank accounts in the same scheduled bank for compliance, efficiency, transparency, and accountability. The Collection Account will receive revenue from allottees, while the Separate Account will cover project expenses and buyer compensation.
Homebuyers' body FPCE raises RERA functioning issues with the Ministry of Housing
The suggestion from the Forum for People’s Collective Efforts (FPCE) came at a meeting called by the ministry of housing and urban affairs last week, where the FPCE flagged several issues regarding the functioning of state RERAs, some people who attended the meeting told ET.
Realty stocks add 30% gains in the first week of 2024; what’s buzzing?
The S&P BSE Real Estate index gained more than 8% in a week, and the gauge hit an over 15-year high of 6820.59 points. Godrej Properties, The Phoenix Mills, Prestige Estates Projects, and Sobha gained 11-30% so far this week. While, Mahindra Lifespace Developers, Oberoi Realty, and Macrotech Developers added 6-8% this week.
MahaRERA’s action on non-compliance prompts increase in quarterly project updates
Maharashtra Real Estate Regulatory Authority (MahaRERA) sees an increase in housing projects submitting Quarterly Progress Reports (QPR) preemptively, following strict regulatory measures. Out of 480 projects registered in April 2023, 46.25% comply with QPR requirements without notice. MahaRERA aims for 100% compliance, with the regulator suspending registrations of over 388 non-compliant projects in September.
Suraj Estate Developers share price falls after muted listing. What should investors do?
Since most of the land parcels in the South-Central Mumbai market are re-development projects, the company's core competence lies in tenant settlement, which is a crucial element for unlocking value on such land parcels.
How a Telangana real estate agent lured 11 to death with a promise of hidden wealth
A suspected serial killer posing as a real estate agent and treasure hunter has been apprehended for allegedly murdering 11 people in Telangana, Andhra Pradesh, and Karnataka since 2020. The accused confessed to duping victims with promises of hidden treasures and admitted to committing the murders over the past four years. The arrest came after a missing man's family filed a complaint, leading to the discovery of the accused's involvement.
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