20 Nov 2024

Build Nivesh LLP (formerly Labdhi Nivesh LLP) has successfully closed its first real estate Alternative Investment Fund (AIF) with a robust investor response, leveraging 100% of its green-shoe option. This brings the fund's total corpus to INR 40 crore, with an additional INR 40 crore committed for future investments. Now part of BUILD Capital, Build Nivesh is focused on financing real estate projects in the Mumbai Metropolitan Region (MMR) and has strategic plans to partner with Labdhi Lifestyle Limited. This AIF closure empowers the BUILD platform to offer innovative financing solutions to developers in MMR, filling a critical industry need.Read more

19 Nov 2024

WeWork India reported robust growth in FY24, with a 26.7% rise in revenue, driven primarily by increased membership fees. Despite a 7.6% reduction in losses, the company demonstrated resilience through improved efficiency and operational strategies. Although non-operating income and a strong EBITDA contributed to this success, challenges remained with rising expenses in depreciation and finance costs. With substantial cash reserves and an enhanced EBITDA margin of 64.42%, WeWork India's financial performance reflects both its strengths and areas for continued growth.Read more

19 Nov 2024

Noida saw a record 16,500 property registrations in October, marking a nearly 70% increase in stamp duty revenue compared to last year. The festive seasons of Navratri and Diwali played a significant role in this surge, as families tend to invest in property during this auspicious time. The revenue department collected Rs 513.4 crore in October, surpassing its target. Data for the first seven months of the 2024-25 fiscal year reveals a 51% achievement of its annual target, with a shortfall of Rs 313.2 crore against the target set for the period.Read more

19 Nov 2024

Godrej Properties has reported a 2% rise in net debt for the September quarter, reaching INR 7,572 crore as it intensifies land acquisition efforts to fuel future growth. To support its expansion, the company plans to raise up to INR 6,000 crore through equity and debt securities. With a strong sales performance already in FY24, Godrej Properties achieved INR 13,800 crore in bookings by mid-year, setting its sights on a INR 27,500 crore target. This strategic move underscores Godrej's commitment to strengthening its presence across key Indian markets.Read more

19 Nov 2024

The Lucknow Development Authority (LDA) has opened an e-auction portal for over 300 properties, offering residential and commercial spaces in prime areas of Lucknow. Registration is open until December 11, and the e-auction will take place on December 16. The available properties include housing plots, schools, hotels, and mixed-use spaces. Notably, Basant Kunj Yojna's Sector-H residential plots start at INR 32,955 per square meter. The LDA expects a strong response and hopes to match the success of its last auction, which generated INR 515 crore.Read more

19 Nov 2024

B L Kashyap & Sons Limited (BSE: 532719 NSE: BLKASHYAP) has reported strong financial results for Q2 FY2024-25, with standalone revenue of INR 275.67 crore and PAT of INR 10.87 crore. Consolidated revenue for the half-year ending 30th September 2024 rose by 8.33% to INR 631.66 crore, while PAT grew by 34.97% to INR 29.63 crore. The company secured INR 381 crore in new orders during Q2 FY2025 and recorded an 18% growth in its order book, reaching INR 3,546 crore. The company remains focused on pursuing high-margin projects and expanding into key sectors like residential, railway infrastructure, and healthcare.Read more

18 Nov 2024

The Ghaziabad Development Authority (GDA) raised INR 58 crore in a single day through an auction of residential and commercial properties. Major contributions came from the Karpuripuram and Indirapuram housing schemes, with revenue earmarked for the development of Harnandipuram township. The success of the auction reflects growing investor interest in Ghaziabad, driven by improving infrastructure and connectivity. GDA's revenue projections for the Indirapuram Extension scheme are over INR 285 crore. The increased property sales signal a positive trend in Ghaziabad's real estate market, with ongoing urban development initiatives expected to sustain demand.Read more

18 Nov 2024

Indore has implemented a second increase in property guidelines this financial year, impacting 469 existing locations and 111 new colonies. Notable hikes include a 600% rise in Mhow and up to 250% at other sites. The revisions are expected to boost government revenue, with the target for the current fiscal year set at INR 3,150 crore. While higher property values could stimulate real estate activity, concerns about affordability are rising, particularly for first-time homebuyers. The trend highlights Indore's growing importance due to improved infrastructure and urban development, signalling both opportunities and challenges for the local real estate market.Read more

18 Nov 2024

A Knight Frank survey of 1,629 urban Indian homebuyers shows apartments as the most preferred housing type (52%), followed by studio apartments (19%) and independent houses (17%). While 37% of respondents are upgrading their homes, 32% are first-time buyers, and 25% are investors. Location remains the primary decision factor for 50% of buyers, with property size and price following closely at 45% each. Home loans are the dominant financing choice (79%), though affluent buyers show more flexibility in using personal savings. Competitive interest rates (74%) and flexible loan tenures (48%) are the key priorities in loan selection.Read more

18 Nov 2024

The Asia-Pacific office market will grow significantly by 2025, as Colliers reports a 10.7% year-over-year demand increase in Q3 2024. Strong leasing in India, New Zealand, and Singapore, where growth exceeded 30%, drove demand for Grade A office space to reach 2.2 million square metres. India led the region, accounting for 70% of demand, with Bengaluru and Hyderabad capturing over half of the Grade A absorption. Meanwhile, competitive rents and diverse occupier interest further strengthened India's position. Asia-Pacific markets anticipate supply growth, yet experts expect rental rates to remain steady as supply and demand reach equilibrium.Read more