29 May 2024

Real estate developer DLF Ltd. plans to build upon the success of The Camellias luxury housing project with the upcoming launch of The Camellias 2 in Gurugram. Scheduled for Q3 2024-25, the 420-apartment Camellias 2 spread over 17 acres will be accessible only by invitation and have starting sizes of 9,000 sq ft, larger than Camellias. DLF will also debut a 62-villa project in Goa with prices from INR 40-50 crore, slated for August 2024. Both high-end developments aim to leverage strong demand for luxury living.Read more

29 May 2024

Real estate developer Sobha saw an 85.55% decline in net profit for Q4 FY24, totaling INR 7.02 crore, with total income dropping by 36.20% to INR 791.25 crore. Despite these setbacks, Sobha remains committed to growth and resilience. The board recommended a dividend of INR 3 per share (totaling INR 54.36 crore), demonstrating confidence in long-term prospects. Sobha also reduced net debt significantly over 14 quarters, achieving a debt-to-equity ratio of 0.50. Strategic moves include a 51% stake acquisition in C.V.S Tech Park and a planned rights issue to raise up to INR 20,000 million.Read more

28 May 2024

Signature Global, a prominent player in India's affordable housing sector, is strategically shifting towards the mid-income housing segment, aiming for significant growth. In FY24, the company reported a 112% increase in pre-sales to INR 72.7 billion (over USD 1 billion) and a 62% growth in collections to INR 31.1 billion (over USD 400 million). For FY25, Signature Global targets pre-sales of INR 10,000 crore (over USD 1.2 billion) and collections of INR 6,000 crore (over USD 750 million). With a substantial project portfolio and a focus on sustainable profitability, the company is well-positioned to meet the rising demand for mid-income housing in India.Read more

28 May 2024

Leading Mumbai developer Keystone Realtors saw its net profit for FY24 increase 36.92% to INR 112.21 crore compared to the previous year, although profit dropped 60% in the fourth quarter. While Q4 profit fell to INR 30.68 crore from INR 76.59 crore year-on-year, total income jumped over 130% for the quarter. For the full year, total income witnessed strong growth of over 215% to INR 2,275.63 crore. Keystone Realtors operates under the Rustomjee brand with a development portfolio spanning MMR, including 34 completed and 35 ongoing/planned projects delivering over 23 million square feet to date.Read more

27 May 2024

Siroya Corp has revealed plans for a massive mixed-use development in Oshiwara, Andheri West, with a staggering 1 million square feet of space. This project, encompassing residential, commercial, and retail areas, aims to redefine the area's landscape. With Oshiwara experiencing significant population growth, particularly among young professionals and families, the project's 600 residential units across two towers meet a rising demand for modern living spaces. The inclusion of commercial offices and retail spaces creates a self-sufficient community, promoting convenience and sustainability. Siroya Corp's proven track record and focus on quality instil confidence in the project's success, while its strategic location ensures excellent connectivity and accessibility.Read more

27 May 2024

Innov8 has expanded its footprint in Delhi with the inauguration of its latest coworking space in Aerocity, featuring 9,500 square feet of workspace with 217 dedicated seats, state-of-the-art conference rooms, and meeting facilities. Strategically located near the Indira Gandhi International Airport and the Aerocity metro station, the center offers unparalleled accessibility for businesses. With a significant investment of INR 4 crore, Innov8 aims to set a new standard for coworking spaces in Delhi, catering to the needs of modern businesses while fostering a sense of community and collaboration. The launch of Innov8 Aerocity underscores the company's commitment to providing strategic locations, modern amenities, and fostering innovation and entrepreneurship in India's coworking space industry.Read more

27 May 2024

Gurgaon-based real estate giant DLF is re-entering Mumbai's luxury property market after an 11-year hiatus, planning to launch projects with flats priced between INR 6 crore and INR 28 crore in FY25. Targeting INR 3,500-5,000 crore of its projected INR 17,000 crore sales bookings from Mumbai's super-luxury segment, DLF aims to capture a significant market share. Additionally, DLF will launch 62 exclusive villas in Goa, priced at INR 40-50 crore each, catering to high-end buyers, including NRIs. With a solid financial foundation and a focus on high-quality developments, DLF's strategic moves are poised to strengthen its position in India's luxury real estate market.Read more

27 May 2024

ArisUnitern, a real estate service provider, has partnered with Essem 18 to enhance its real estate portfolio through development management services. This collaboration aims to fast-track Essem 18's 18-acre plotted development in Shettigere, Bengaluru, by securing INR 40 crore in financing and providing sales and marketing support. ArisUnitern's role includes end-to-end project management, reflecting a trend where developers seek specialized services for quality and timely delivery. This partnership highlights ArisUnitern's growth, securing eight projects and raising over INR 300 crore recently, and underscores the evolving focus on quality in the Indian real estate industry.Read more

24 May 2024

Table Space, a managed office solutions provider, has leased over 2.5 million sq ft across Chennai, Mumbai, Hyderabad, and Bengaluru. In Chennai, it secured 500,000 sq ft at Mapletree Global Infocity Park and 160,000 sq ft with DLF. In Mumbai, it added 55,000 sq ft at Oberoi Commerz III, 200,000 sq ft at Runwal R-Square, and 29,000 sq ft at Raheja Altimus Worli, with plans for an additional 500,000 sq ft. In Hyderabad, it leased 260,000 sq ft at Mindspace IT park, planning for another 500,000 sq ft. In Bengaluru, it acquired 55,000 sq ft at UB City, 100,000 sq ft at Cafe Coffee Day Square, and plans for 500,000 sq ft in Whitefield.Read more

24 May 2024

Bhumika Group, a leading real estate developer headquartered in Rajasthan, is expanding its retail portfolio in NCR with the addition of 8.5 lakh square feet of new space. Their current projects include a 5.5 lakh sq ft retail development in Faridabad located on a prime 2-acre Mathura Road frontage. They are also developing 3 lakh sqft under a PPP scheme and have started work on an NHPC Metro station redevelopment. The new projects are being funded through internal cash flows and bank loans, demonstrating Bhumika's strong financial position. Their innovative Urban Square Mall in Udaipur achieved full occupancy with over 80 domestic and international brands, revolutionizing shopping in Rajasthan.Read more