23 Jul 2024

India's real estate market saw a significant shift in investment focus during Q1 FY25, with warehousing attracting USD 1.5 billion, marking a 14% YoY growth. A major deal between Reliance Retail, ADIA, and KKR drove this rise, accounting for 71% of all PE deals. This contrasts with Q1 FY24, where office spaces dominated with USD 1.4 billion in investments. Multiple cities, including Hyderabad, Bengaluru, Pune, and MMR, saw investor activity totaling USD 436 million. The trend highlights the growing importance of logistics and e-commerce, reflecting an evolving market dynamic in Indian real estate.Read more

23 Jul 2024

Sanofi's Indian subsidiary is selling its 150,000 sq ft Powai headquarters, acquired in 2013 and occupied in 2015, for around INR 250 crore as part of its asset monetisation strategy. The company has leased a new office in Vikhroli for Sanofi Consumer Healthcare, recently demerged to operate independently. This move supports future growth and operational needs. Managing Director Rodolfo Hrosz emphasised Sanofi's commitment to India, highlighting plans to launch one or two new products annually. The Indian office market is booming, with a record 33.5 million sq ft leased in the first half of the year, reflecting strong demand and economic resilience.Read more

23 Jul 2024

TA Associates led the acquisition of a significant minority stake in Vastu Housing Finance Corp, along with existing investors like the International Finance Corporation. The stake, purchased for approximately INR 23,340 crore (USD 400 million), values Vastu at INR 10,000 crore, with an additional USD 75 million in primary capital infusion. Founded in 2015, Vastu, backed by Multiples Alternate Asset Management and others, operates over 230 branches across 13 states. The partnership aims to accelerate Vastu's growth in affordable housing, small business loans, and vehicle finance, reinforcing its market position and expansion plans in India.Read more

23 Jul 2024

At GMDA's board meeting, the board is scheduled to discuss projects including flyovers, Southern Peripheral Road (SPR) redevelopment, water treatment capacity expansion, electric buses, and 10,000 CCTV cameras. The board will present an INR 2,887 crore budget for FY 2024-25 and seek approval for INR 3,500 crore in projects from Chief Minister Nayab Singh Saini. Key proposals include the INR 634 crore redevelopment of Tau Devi Lal Stadium and the signal-free elevated corridor for SPR. GMDA also plans to procure 200 electric buses under the PM e-Sewa scheme and invest INR 1,400 crore to upgrade the city's water supply and drainage infrastructure.Read more

22 Jul 2024

The Sleep Company, a comfort-tech firm known for chairs, mattresses, and recliner beds, aims to reach INR 1,000 crore in revenue by FY27. The company is significantly expanding its physical store network, planning to grow from 100 to 150 stores by March, covering more cities and increasing store density. Currently, 65% of its revenue comes from physical outlets. Co-founded in 2019 by Harshil and Priyanka Salot, the firm is boosting its advertising spend to INR 85 crore by FY25 to achieve this milestone, after clocking a revenue of INR 335 crore in FY24.Read more

22 Jul 2024

The rising rental market in Bengaluru is cooling, particularly in IT corridors. With nearly 8,850 units launched in Q1 2024 and a shift to hybrid work models, tech professionals are seeking affordable options on the outskirts. Rental prices in IT hubs like Whitefield and Sarjapur have dropped 15-20% year-on-year. Many are moving to the outskirts for more spacious, cost-effective homes. Improved metro connectivity and increased inventory have given renters more leverage. Landlords are reducing rents in prime areas to attract tenants, anticipating a significant market correction. This trend offers tech professionals the chance to secure better living spaces at lower prices.Read more

22 Jul 2024

The IPO market in India is expanding, and because of the remarkable returns, individual investors are becoming more interested. This year's listed shares have gained an average of 57%, far more than the global average. Eleven other companies are preparing to make offerings valued at USD 11 billion. In 36 IPOs, retail investors have placed bids totaling USD 10.6 billion for shares, much exceeding the quotas that were made available. Even with more regulations in place, individual purchasing is still strong. Important instances include the 230% post-IPO stock jump of Exicom Tele-Systems. The primary goal of investors is to make rapid gains, which indicates a trend away from more conventional investments like real estate and toward the stock market.Read more

22 Jul 2024

SEBI is inviting public comments on the proposed amendments to the REIT and InvIT rules. These amendments aim to clarify the unitholders' rights to nominate directors to the boards of investment managers or managers of REITs and InvITs. Currently, unitholders with the significant holdings can nominate the directors, but the amendments state that restrictions won't apply if the right is available under the SEBI (Debenture Trustees) regulations. This clarification addresses the market participants' requests. Public comments on the draft circulars are open until July 29. Amendments are proposed to the Master Circulars for InvITs and REITs dated May 15, 2024.Read more

19 Jul 2024

Chennai's real estate landscape sees a modest uptick as the Tamil Nadu government's revised guideline values, effective from July 1st, lead to a 10% rise in property acquisition costs. For example, Alandur Road now values at INR 6,100/sq ft, up from INR 5,500/sq ft. This adjustment, prompted by a court's 2023 ruling, aims to standardize stamp duty calculations across 2.19 lakh streets. Builders, while acknowledging the necessity of fair valuation, highlight implementation challenges in districts like Alandur and Pallavaram. Despite marginal cost impacts, broader market conditions are likely to drive future pricing trends in Chennai's real estate sector.Read more

19 Jul 2024

India's booming economy has led to a remarkable rise in family offices, from just 45 in 2018 to over 300 in 2024, reflecting a nearly seven-fold increase. These private firms manage the investments of wealthy families, diversifying beyond traditional sectors like real estate into stock markets, private equity, and venture capital. Family businesses contribute 60-70% to India's GDP, and as they expand, managing wealth becomes more complex. Despite challenges like the lack of a tailored ecosystem and succession planning issues, the trend signifies a tech-savvy, diversified approach to wealth management, ensuring continued economic contribution.Read more