19 Feb 2024

Casagrand, a leading real estate developer in South India, has launched Casagrand Medora, a premium residential project in Chennai's Korattur area, offering 155 luxurious apartments with 40+ amenities. Strategically located near Anna Nagar, the project stands out with an attractive price of INR 6999 per sq.ft., providing a holistic living experience in the heart of the city. Casagrand Medora emphasizes convenience, elegance, and functionality, featuring architectural finesse, world-class amenities, and meticulously crafted residences, demonstrating the developer's commitment to upscale urban living in Chennai.Read more

19 Feb 2024

Sobha Limited's Q3-FY24 financial results demonstrate strong sales and operational growth, with record-breaking collection, realization, and sales values. Quarterly sales hit INR 19.52 billion, up 37.0% YoY and 13.2% from Q2-FY24, driven by Bengaluru's highest-ever quarterly sales of 1.25 million sq ft., valued at INR 14.99 billion. Two new projects totaling 3.84 million sq ft. were launched, contributing to the highest-ever quarterly real estate collection of INR 12.93 billion, up 11.8% YoY. With positive cash flow, net debt/equity ratio reduced to 0.54. 9-month FY24 revenue rose to INR 24.26 billion, and Q3-FY24 profits reached INR 153 million, reflecting growth strategies focused on new launches and effective execution.Read more

16 Feb 2024

Arkade Developers Ltd., a burgeoning real estate entity in Mumbai, unveiled Phase 1 of Arkade Nest, an upscale residential enclave in Mulund West's Sarvodaya Nagar, spanning a generous 2-acre expanse with six wings, three already operational. Concurrently, Arkade secured redevelopment contracts for Arunachal Co-op HSG Society in Goregaon East's Jay Prakash Nagar and Nutan Ayojan Co-op HSG Society in Malad West's Liberty Garden. These initiatives underscore Arkade's stature in Mumbai's real estate landscape, blending luxury, affordability, and quality craftsmanship while addressing market demands effectively.Read more

15 Feb 2024

Signature Global, a leading real estate developer in India, reported robust financial results for Q3 FY24, with pre-sales increasing by 47.38% to INR 12,627.34 million and collections rising by 45.9% to INR 7,690.52 million year-over-year. The company sold 1,179 units and 1.31 million sq. ft, showcasing its ability to seize market opportunities. For the first nine months of FY24, pre-sales expanded by 41.38% to INR 31,241.29 million, with revenue from operations reaching INR 2,818.05 million. Despite a slight decline in margins, Signature Global reported a profit of INR 21.79 million in Q3 FY24, signalling a turnaround. Moreover, the acquisition of GCPL strengthens its land bank and market position, positioning Signature Global for sustained growth and leadership in the real estate sector.Read more

15 Feb 2024

Bengaluru-based real estate developer Puravankara plans to deliver 2,000 units and develop over 2 million sq ft by Q4FY24 across Bengaluru, Pune, Chennai, and Mumbai. The company anticipates Provident Housing and Purva Land to lead sales. Notably, it aims to complete plotted developments spanning 1.8 msf in Bengaluru and Chennai. Puravankara reported a profit of INR 78 crore in Q3FY24, with a net debt of INR 1,741 crore. The company aims to maintain momentum in FY25 and is actively engaged in redevelopment projects in Mumbai while expecting occupancy certificates for four projects in Q4.Read more

14 Feb 2024

In Q3 FY24, Brigade Group achieved remarkable milestones, booking 1.7 million square feet valued at INR 1,524 crores, with collections totalling INR 1,394 crores. The residential sector saw robust growth, while the office segment experienced its best leasing quarter post-COVID. Positive momentum was evident in retail leasing and hospitality sectors as well. The company plans to launch 10.8 million square feet of residential projects, 5 million square feet of office and retail projects, and commence construction on 1,000 hotel rooms in the next year. With a revenue increase of 50% and an EBITDA of INR 73 crores, Brigade Group demonstrates resilience and strategic foresight for sustained growth.Read more

13 Feb 2024

Godrej Properties has showcased robust financial performance in Q3 FY23-24, with a 6% YoY rise in consolidated net profit to INR 62.3 crore and a remarkable 68.4% surge in revenue to INR 330.4 crore. Despite sequential declines in profit and revenue, the company achieved a substantial 76% YoY increase in booking value to INR 5720 crore and a 43% rise in collections to INR 2411 crore. While facing challenges in areas like collections and deliveries, Godrej Properties remains optimistic about meeting its sales guidance. With eight new projects launched and brisk sales observed in NCR and Mumbai, the company is strategically positioned for sustained growth and market leadership in India's real estate sector.Read more

13 Feb 2024

Embassy Group has finalized a joint development agreement for 3.75 acres of land in Whitefield, Bengaluru, aiming to introduce a premium residential project with an estimated revenue potential of INR 550 crore. The project will offer approximately 400 apartments across various configurations, with modern amenities and timeless aesthetics catering to millennials. Envisioned for Q4 FY24 launch, the development spans 5.4 lakh sq ft of saleable area and targets the growing demand from young professionals in the IT sector. Additionally, Embassy Group plans to launch INR 5,000 crore worth of inventory in the upcoming year to meet the demand for luxury living spaces.Read more

12 Feb 2024

DLF, a major real estate player, is set to make its mark in Mumbai's property market with its first project in Andheri. The company, in collaboration with the Trident Group, is embarking on a Slum Rehabilitation Authority project with tentative pricing for apartments ranging from INR 5.5 crore to INR 7.5 crore. With a planned investment of INR 400 crore, DLF aims to achieve a saleable area of 3 million to 3.5 million square feet in the first phase, anticipating substantial demand across various segments.Read more

12 Feb 2024

Thane-based real estate brand Vihang Group has achieved a remarkable feat by selling 200 apartments in its newly launched ‘Capital of Thane’ project within just 10 days, generating a revenue exceeding INR 150 crores. The success underscores the strong demand for residential properties along Thane's Ghodbunder Road. With an ambitious investment plan of INR 850 crores this year, Vihang Group aims to launch three more projects in the same micro-market. It is projecting an estimated sales potential of INR 2000 crores and anticipating a steady increase in expenditures over the next five years.Read more