Leading brokerage HDFC Securities has come out with a positive outlook on real estate developer Sobha Ltd, stating that headwinds are largely priced in and risk-reward is now favorable for further rerating. The brokerage believes the stock’s underperformance versus real estate sector makes valuations compelling for investors to make a fresh entry. In an in-depth […]
Brigade Enterprises said it has acquired a plot of Rs 139 crores from Pfizer Healthcare India Ltd in Chennai to build a residential project. The 6.54 acre land-plot has been acquired in Sholinganallur, on the Old Mahabalipuram Road. “We will be developing a residential project on this land parcel with an overall development of over […]
A Supreme Court-monitored bail-out of nearly 41,000 customers of the erstwhile Amrapali Group, which went into insolvency four years ago, has kicked off with the sale of the first 150 flats, said Anarock, the real estate agency hired to sell the stock. Amrapali Group, at one time one of the biggest names in real estate […]
Brigade Group, a Bangalore-based real estate developer, announced its entry into plotted development or the villa space, responding to post-COVID changes in the market. The company said it plans to announce several gated community villa projects in the coming months. It will start off with a 66-acre project in Devanahalli, near the Bangalore airport, on […]
The year 2021 saw 17% more residential real estate units achieve completions in top Indian cities than could be sold, according to the latest numbers from real estate consultant Anarock Property, leading to a substantial increase in inventory in markets such as National Capital Region and Pune. According to the agency, a total of 2.78 […]
Real Estate developer Puravankara Group said it will set up its first project under the Provident brand in Kerala. The project, Provident Winworth, will have properties worth Rs 3,000 cr, and is being set up with the help of investment from International Finance Corporation (IFC) and the IFC Emerging Asia Fund. Purvankara has several projects […]
Godrej Properties, the real estate arm of the Godrej group, is all set to get a major infusion of cash in the form of a Rs 2,000 cr investment by parent Godrej Industries. The flagship company of the Godrej group said it has also decided to invest Rs 500 Godrej Agrovet Ltd, which makes cattle […]
Mahindra Lifespace Developers Ltd, a real estate construction company within the Mahindra & Mahindra group, has agreed to buy 9.24 acres of prime land from its parent, auto maker Mahindra & Mahindra Ltd, for development. “This new project is Mahindra Lifespaces’ second residential development in Kandivali after its successful ‘Mahindra Roots’ project and will offer […]
Godrej Properties, one of India’s fastest growing and most profitable real estate companies, said it has got the approval of its board of directors to explore the possibility of acquiring a stake in rival and listed real estate developer DB Realty. “..the Board of Directors of the Company has at its meeting held today, i.e. […]
Hinduja Global Solutions, one of India’s largest BPO providers with nearly 47,000 employees, said it was quite happy with how things are going under the ‘work from home’ mode, and has no immediate plans to shift employees back to the office. The comments come even as IT firms like TCS have asked employees to be […]
Hospital group Max India said it has sold 200 out of the 340 apartments coming up at Noida Sector 150 dedicated to seniors. The Antara Noida project, which was launched last year, will be ready for possession in 2024. This is the second such dedicated living quarters designed for elders created by the company, with […]
Kolte-Patil Developers reported a strong second quarter for the financial year, as the real estate recovery seen in earlier quarters continued apace. The company’s collections — a measure of the cash it managed to collect from buyers — zoomed 86% compared to the COVID-ravaged second quarter of last year, and was up 34% compared to […]
Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]
Pune-based real estate developer Kolte-Patil Developers Ltd has introduced its second Group CEO in three months in the form of Rahul Talele, currently Business Head for Pune. It was on June 12 this year that the company had appointed Yashvardhan Patil as its Group CEO. At the time, Kolte Patil Chairman & MD Rajesh Patil […]
Sunteck Realty reported a sequential decline in its collections for the first quarter of FY22 compared to the immediately preceding fourth quarter of FY21, as COVID-19 curtailed new launches. Nevertheless, collections were far better than the year-ago numbers. Collections refer to the actual cash that the company collects from its buyers. Total collections for the […]
Puravankara Ltd, the biggest residential real estate brand in Bangalore, said it is making changes to its apartment designs to attract work-from-home customers, but believes that employees will shift back to the work-from-office model in another 12-18 months. STRONG DEMAND The company has been seeing strong demand for its residential flats, as buyers increasingly prefer […]
Sobha Ltd, one of India’s largest real estate developers, said it will build a ‘Manhattan-like’ mini city at Yadavanahalli, which lies between Electronics City and Hosur towards the south east of Bangalore. Despite its somewhat removed location, the project is targeted at the well-to-do, with the three-bedroom flats costing upwards of Rs 90 lakh. Chairman […]
Finally, here is a piece of good news if you are in an investor in the real estate sector: Arihant Superstructures, one of the most prominent residential developers in the Mumbai region, sold a whopping 250 residential flats during the month of April and May — which coincided with the peak of the second wave […]
Prestige Estates Projects, which operates some of India’s top malls such as Bangalore’s Forum Mall, said retail spending has recovered to around 70-80% of normal levels, though it may take several months for it to fully normalize. “The malls should be back in the next six months, they should stabilize fully. Hospitality should take a […]
Godrej Properties, arguably the healthiest and fastest growing of the major Indian real estate companies, today said it has agree to purchase a 20 acre project in Kalyan near Mumbai for a residential project. “This project will offer approximately 139,000 square meters (1.5 million square feet) of saleable area comprising primarily of residential apartments of […]
