29 Jul 2024

Sunteck Realty Ltd reported a 29.7% increase in pre-sales for Q1 FY25, reaching INR 502 crore compared to INR 387 crore in Q1 FY24. Collections rose by 18.8% to INR 342 crore from INR 288 crore year-on-year. The company saw a 25.95% decline in pre-sales from INR 678 crore in Q4 FY24. For FY24, pre-sales were INR 1,915 crore, and collections totaled INR 1,236 crore. Sunteck Realty, active in the Mumbai Metropolitan Region and Tier-II cities, reported a Q4 FY24 net profit of INR 101 crore, reversing a INR 28 crore loss in Q4 FY23.Read more

29 Jul 2024

The Birla Estates, a subsidiary of Century Textiles and Industries, has acquired a five-acre land parcel in Sector 71, Gurugram, aiming to develop a luxury residential project with a development potential of 10 lakh sq ft and an expected revenue of over INR 1,400 crore. The prime location on the Southern Peripheral Road offers excellent connectivity to Delhi and Gurugram. MD and CEO K. T. Jithendran emphasized the strategic importance of this market and the company's commitment to delivering exclusive living experiences. This acquisition expands Birla Estates' footprint in NCR, complementing its ongoing projects in Gurugram and New Delhi.Read more

26 Jul 2024

Luxury real estate developer Ashwin Sheth is celebrating a fresh start with a new logo, tagline, and a commitment to providing an exceptional customer experience. The company recently revealed its new branding at New York City's Times Square, a first for an Indian real estate firm. The new logo, featuring the letters "A" and "S" in perfect symmetry, symbolises Ashwin Sheth's dedication to creating living spaces that reflect their customers' needs and aspirations. The tagline, "Our world reflects your world," emphasises this focus. A teaser campaign, "Spot the Orange Dot," generated excitement with over 15,000 participants, transitioning into the launch of "Ashwin Sheth 2.0." The rebranding effort highlights the company's commitment to innovation and delivering unparalleled value in the real estate sector.Read more

26 Jul 2024

A recent Vestian Research report highlights a notable rise in green-certified office spaces across India's top seven cities. Over 65% of Grade A office buildings in Bengaluru, Delhi, Chennai, Kolkata, Hyderabad, Pune, and Mumbai now boast certifications for environmental and energy-efficient standards. This equates to more than 805 buildings out of 1,362 Grade A properties certified. LEED certifications, particularly at the Gold level, dominate the landscape, focusing on optimising energy, water usage, and promoting healthy work environments. The trend underscores a growing corporate preference for sustainability, with cities like Bengaluru and Chennai leading the charge in green building adoption and premium pricing benefits.Read more

26 Jul 2024

Anarock's latest report reveals a 20% reduction in average completion times for new residential projects across major Indian cities. Studying markets like Mumbai, Delhi-NCR, Chennai, Bengaluru, Pune, Hyderabad, and Kolkata, the report compares projects launched between 2014 and June 2024, which averaged 4.9 years to complete. This marks an improvement from 6.1 years for projects launched between 2010 and 2019. Mumbai and Delhi-NCR lead with notable drops in construction timelines, attributed to stricter regulations under RERA and market consolidation among larger developers. Despite improvements, Kolkata lags at 5.7 years due to delayed RERA implementation and local market challenges.Read more

25 Jul 2024

Puravankara Ltd. reported impressive first-quarter (April-June 2024) sales bookings of INR 1,128 crore, matching the previous year's figures despite delaying new project launches. A 6% increase in average price realization per square foot to INR 8,746 highlights a shift towards luxury properties, reflecting growing demand in this segment. Puravankara's strategic land acquisitions in Thane and Bengaluru added 2.42 million sq ft of development space, ensuring a robust pipeline. Additionally, the company plans to raise INR 700-800 crore through a Qualified Institutional Placement (QIP) for organic and inorganic growth, while managing debt levels, which stood at INR 2,151 crore. This balanced approach positions Puravankara for sustained growth and leadership in the high-end real estate market.Read more

25 Jul 2024

Brigade Group introduces Cobalt, featuring 948 one-bedroom apartments within the expansive Brigade El Dorado township in North Bengaluru. Designed for young professionals, Cobalt integrates sleek, contemporary architecture amidst 40 acres of lush greenery. The township offers extensive amenities including retail shops, entertainment venues, a hospital, and sports facilities. Strategically located 15 minutes from Kempegowda International Airport and near major IT parks, Cobalt ensures seamless connectivity. With completion expected by Q2 FY29, this project underscores Brigade Group's commitment to providing modern, sustainable living solutions in Bengaluru's vibrant tech corridors.Read more

25 Jul 2024

Co-working firm Innov8 has made a significant expansion in the Delhi-NCR region, investing INR 10 crore to set up three new facilities with a total sitting capacity of over 600. The new centers, spanning 60,000 square feet, are located in strategic hubs like Unitech Cyber Park, DLF Cyber City, and Okhla. Innov8's founder cited the thriving startup ecosystem and corporate presence in the region as key factors behind this expansion. As a company acquired by OYO in 2019, Innov8 now operates over 30 centers across nine cities in India, catering to more than 8,000 employees of its clients.Read more

24 Jul 2024

G Square, South India's largest plot promoter, announced the success of G Square Pavillion in Singaperumal Koil, Tamil Nadu's largest sports-themed plotted community. Located on the Oragadam Bypass near GST Road, this DTCP-approved and RERA-registered project features 624 plots across 34.53 acres with over 50 amenities. It benefits from major infrastructure developments, including the SP Koil Overpass linking GST Road with Oragadam Bypass, and extensive connectivity via rail, road, metro, and air. The region is poised for growth, with significant automobile and IT hubs nearby. G Square Pavillion offers plots at an early bird price of INR 2799 per square foot, promising substantial future appreciation.Read more

24 Jul 2024

Manesar, near Gurugram, is set for growth with Worldwide Realty's launch of 178 new industrial plots in "The Golden City," covering 112.5 acres. This project offers businesses well-connected spaces near major expressways and highways, including the upcoming Gurugram-Pataudi-Rewari Highway, enhancing access and reducing costs. Catering to enterprises of all sizes, The Golden City provides modern infrastructure and amenities. Vikas Aggarwal, COO of Worldwide Realty, emphasised the area's improved connectivity and strategic appeal. This development aims to attract diverse ventures, boosting Manesar's industrial landscape and contributing to the region's economic growth.Read more