RS 200 PER SQUARE FEET
Macrotech Developers Q1 sale bookings up 20 pc to Rs 4,030 cr on stronghousing demand
Macrotech Developers' Lodha brand reported a 20% Q1 FY25 sales rise to Rs 4,030 crore from Rs 3,350 crore. Operating in Mumbai, Pune, and Bengaluru, it plans 17 new projects worth Rs 12,000 crore. Collections were Rs 2,690 crore. Pre-sales hit Rs 14,520 crore in FY23-24. Aiming for Rs 17,500 crore this fiscal with 10.1 million square feet GDV.
Prestige Estates Q1 Results: Sale bookings fall 23% YoY to Rs 3,029 cr
Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period.
Signature Global Q1 sales bookings jump 3.5 times to Rs 3,120 cr on strong demand
Signature Global reported a 3.5-fold increase in sales bookings to Rs 3,120 crore in Q1 FY24, up from Rs 820 crore last year. The realty firm's sales volume more than doubled to 2.03 million sq. ft. on high demand for its housing projects. The company aims to achieve Rs 10,000 crore in sales bookings this fiscal year.
Whiteland Corp to invest Rs 5,600cr on housing project in Gurugram; partners Marriott for management
Realty firm Whiteland Corporation is set to invest Rs 5,600 crore in a luxury housing project in Gurugram in partnership with Marriott International to bring 'Westin Residences'. The project will feature 1,600-1,800 branded homes with a starting price of Rs 5 crore per unit. The investment will be primarily funded through internal accruals, with the company developing a total of 60 lakh square feet across two phases.
Puravankara aims to secure 20 million square feet of land by the end of the fiscal year
Puravankara's strategic plans include reducing net debt, optimizing debt costs, and utilizing its extensive land bank for future expansion and growth, as announced by the Group CEO. The company is focused on enhancing revenue from key markets like Bangalore and exploring new funding sources through AIFs, aligning with its goal of sustained growth and development.
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.
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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.
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.
Godrej Properties acquires 10 land parcels in FY24 to build Rs 21,000 crore worth projects
Godrej Properties acquired 10 land parcels worth over Rs 21,000 crore last fiscal to build projects. The company aims to buy more parcels generating Rs 20,000 crore sales bookings this fiscal. It plans to launch projects worth Rs 30,000 crore to achieve 20% growth in sales. Quarterly profits rose by 14%.
Brookfield REIT Q4 Results: Net income jumps 89% YoY at Rs 461 crore
Brookfield India Real Estate Trust (BIRET) on Thursday reported an 89 per cent rise in its adjusted net operating income to Rs 460.8 crore during the March quarter and announced distribution of Rs 208.6 crore to unitholders. Its net operating income (NOI) stood at Rs 244.4 crore in the year-ago period.
Narayana Health acquires 1.2 acres in Bengaluru for Rs 169 crore
Narayana Health acquires 1.2 acres of Bengaluru land for Rs 169 crore, as per Propstack data. The property, in Begur Hobli, south Bengaluru, was sold by Venture Projects Bangalore Pvt Ltd. Founded by heart surgeon Devi Shetty, Narayana Health operates 18 hospitals in India and abroad. Bengaluru sees rising luxury property transactions amid growing wealth.
InoxGFL Group to launch renewable energy platform with leading private equity players: Report
InoxGFL Group to launch renewables platform with PE Players, producing over 1.5 GW of wind and solar power. Marquee foreign investors APMoller Capital, I Squared Capital interested. Jains to hold 49% stake, transferring assets from Gujarat, Fluro. Inox to supply wind energy equipment, generating revenues for Inox Wind, Inox Green.
DLF sells apartments worth Rs 5,590 crore within days of launch
Luxury segment housing (apartment priced Rs 4 crore and above) has recorded 10% Y-o-Y growth in Jan-Mar 24 across the top seven cities, with Mumbai witnessing highest number of sales with more than 1,300 luxury units in Q1 2024.
DLF to invest Rs 2,200 cr to build shopping mall in Gurugram
At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
Signature Global to invest Rs 1,000-1,200 cr per year to buy land for housing projects
Realty firm Signature Global plans to invest Rs 1,000-1200 crore annually for land acquisition and focus on the Gurugram property market. They expect strong demand to continue and aim for sales bookings of Rs 7,200 crore this fiscal.
My style of working is as per the needs of the nation and not for electoral considerations: PM Modi
PM Modi addressed the Viksit Bharat Viksit Northeast Program in Itanagar. PM inaugurated multiple development projects worth about Rs 55,600 crores in Manipur, Meghalaya, Nagaland, Sikkim, Tripura and Arunachal Pradesh. He also dedicated Sela Tunnel to the nation and launched the UNNATI scheme worth about Rs 10,000 crores.
Godrej Properties acquires many plots with Rs 20,000 crore revenue potential this fiscal
Godrej Properties acquires land parcels worth over Rs 20,000 crore, surpassing guidance. Recent acquisitions in Hyderabad, Noida, and Bengaluru contribute to revenue potential. Sale bookings expected to exceed Rs 18,000 crore, with consolidated net profit of Rs 62.72 crore reported.
NBCC sold 200,000 sq ft for Rs 830 crore in south Delhi
NBCC sold 200,000 sq ft of commercial space worth Rs 830 crore in the World Trade Centre project at Nauroji Nagar. Buyers include NBCC, Oil India Limited, and Hamdard Laboratories. 150,000 sq ft sold to PSU entities, with a total of 6 successful bidders. The project aims for completion by March 2024.
Table Space Technologies leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru
Table Space Technologies has leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru as its erstwhile corporate headquarter and flagship store. The lease term is 60 months with a lock-in period and commands a rental of Rs 175 per square foot.
After raising Rs 7,200 crore in new project in 72 hours, what is DLF doing next? Ashok Tyagi answers
Ashok Tyagi says: “It is safe to assume that FY24 will end at a number higher than Rs 13,000 crore we had guided for. By how much, that is something that we are still working on. We are also seeing if some of the launches that we had originally scheduled in the next fiscal can be advanced to Q4 may or may not happen given the approval cycles.”
DLF’s Gurugram project sold out within days of launch, generates Rs 7,200 crore for the company
DLF, a realty developer, has achieved a remarkable success with its latest luxury residential project, DLF Privana South in Gurugram, reporting a sale of Rs 7,200 crore within 72 hours of the pre-launch. The project, situated in Sectors 76 and 77 across 25 acres, consists of 1,113 luxury residences in 7 towers, offering 4 BHK apartments and penthouses.
Brookfield seals $2.5-billion all cash deal to acquire ATC India
The acquisition after months of negotiations marks the Boston-based independent tower company’s exit from India. ATC had informed the US Securities and Exchange Commission in February 2023 that it was exploring strategic alternatives, including the sale of an equity stake in its India operations, amid a challenging business environment.
Sobha Q3 sales bookings up 37% to Rs 1,952 cr on strong housing demand
"The Q3 (third quarter) of this financial year has been the best-ever sales quarter for Sobha," the company said in a regulatory filing late on Thursday.
Air India leases 620,000 square feet in Gurgaon for training centre
The airline will pay an annual rental of about Rs 60 crore, and it has leased the property for a period of 21 years, said people close to the development. They said the developer will construct the building, named E-novation Centre, as per the specifications laid out by the airline. According to documents accessed through floorTap.com, a marketplace for commercial properties, the building will be leased by Innovative Techno Park Ltd.
NDTV leases 1,28,000 square feet at Max Square in Noida
“This is a clear reflection of Noida Expressway and particularly Max Square, is fast emerging as new centre for corporate office beyond a back-office hub. With this, Max Square, within 6-9 months of receiving its completion, has transacted (LOI Included) 50% of the office space including 100 percent of the retail/F&B is committed,” the company said in a statement.
Nearly 90 lakh sq feet space cleared, Rs 371 cr revenue earned in last 2 cleanliness campaigns: Centre
"The union minister was informed that close to 90 lakh square feet of prime office space has been cleared during the last two swachhata campaigns and put into productive usage. Besides, the government generated a revenue of Rs 370.83 crore from disposal of scrap, 64.92 lakh files were reviewed, 4.56 lakh public grievances redressed and 8,998 MPs' references replied," the statement said.
Casa Grande has bought over 4 lakh square feet of land in a deal valued at around Rs 56.8 crore in Hyderabad
The company has delivered over 140 projects and 40,000 homes across Chennai, Bengaluru, Coimbatore, and Hyderabad. It plans to expand the property development business in newer markets like Mumbai and Pune.
Amazon Development Center leases 200,000 square feet office space in Pune’s Kharadi
The company has picked up the office space spread over four floors for a tenure of 10 years with total rentals of over Rs 208 crore, including rental escalations.
Infosys leases 5 lakh square feet in Bengaluru
"The software major will be paying a rental of around ₹51 per sq ft. The lease term has a five-year lock-in period with a 15-year lease," said three people aware of the deal.
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