Taxation & Finance

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Real estate sector's 17% share in QIP market highlights investor confidence and growth potential

Author : PNT Bureau
The Indian real estate sector has emerged as a dominant player in the capital markets, accounting for a significant 17% of the total qualified institutional placements (QIP) issuance across sectors. The real estate sector raised INR 12,801 crore out of the total INR 75,923 crore raised through QIPs. This trend reflects the increased appetite of real estate developers to raise funds through IPOs and QIPs, particularly in the post-COVID era. The success of these capitalization efforts underscores the sector's continued ability to attract both retail and institutional investors, driven by factors such as improved transparency, strong post-pandemic recovery, and rising investor confidence....
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LIC Housing Finance posts 11.2% rise in Q3 profit, driven by strong loan portfolio growth

Author : PNT Bureau
LIC Housing Finance reported a Q3 net profit of INR 1,327.29 crore, up 11.2% from last year's INR 1,193.57 crore, driven by a 2.55% increase in total income to INR 6,938.81 crore. MD & CEO Tribhuwan Adhikari highlighted the role of stable interest rates and the festive season in driving growth. As of September 30, 2024, the company holds a net worth of INR 31,241 crore with a debt-equity ratio of 8.42. Its outstanding loan portfolio grew by 6% to INR 2,94,588 crore, with individual loans at INR 2,50,879 crore. Expected Credit Loss (ECL) is INR 5,458 crore, with Stage 3 EAD at 3.06%....
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SRG Housing Finance reports a 25.48% net profit increase in Q2 FY25

Author : PNT Bureau
SRG Housing Finance Ltd. (SRGHFL) reported strong growth for the quarter ending September 30, 2024, with net consolidated profit rising by 25.48% to INR 66 million, driven by increased loan disbursements and portfolio expansion. Consolidated income also increased by 18.11% year-over-year to INR 368.4 billion. Managing Director Vinod Jain highlighted a 41.26% quarterly rise in disbursements, aligning with SRGHFL's targets of INR 7.5 billion in assets under management (AUM) in the short term and INR 10 billion in the medium term. With a stable debt-to-equity ratio, robust capital adequacy, and low non-performing asset levels, SRGHFL is well-positioned for sustained growth....
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HDFC Standard Life acquires 0.4% stake in PNB Housing Finance

Author : PNT Bureau
HDFC Standard Life Insurance recently acquired a notable stake in PNB Housing Finance, investing INR 90 crore through an open market transaction. This move, capturing a 0.4 per cent share of PNB Housing, aligns with HDFC Standard Life's interest in housing finance. Meanwhile, foreign investor Asia Opportunities V (Mauritius) Ltd continued its gradual reduction of holdings in PNB Housing, lowering its stake from 1.34 per cent to 0.94 per cent. This transaction follows previous divestments by Asia Opportunities V and General Atlantic earlier in the year, which saw substantial share sales worth hundreds of crores....
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Telangana government establishes new urban development authorities for integrated growth

Author : PNT Bureau
In response to rapid urbanisation, the Telangana government has established 25 Urban Development Authorities (UDAs) to promote planned infrastructure development. All districts, except Mulugu, either have a UDA or fall under one. These authorities will create comprehensive master plans addressing key aspects such as roads, water supply, employment, and satellite townships. Additionally, existing UDAs in several districts will have their jurisdictions expanded. This initiative draws inspiration from the successful Hyderabad Metropolitan Development Authority, aiming to facilitate sustainable urban growth across the state....
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India's luxury real estate market sees 37.8% sales growth in 2024

Author : PNT Bureau
India's luxury real estate market is booming, with sales of high-end homes above INR 4 crore rising by 37.8% in the first nine months of 2024. Cities like Delhi-NCR, Mumbai and Hyderabad are seeing strong demand. This growth is driven by high-net-worth individuals (HNIs) and wealthy buyers looking for premium amenities and exclusive living spaces. Developers are responding by creating luxury-focused projects to meet this interest. Real estate remains a popular investment in India, with many viewing luxury homes as stable, long-term assets....
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Mahindra Lifespace reports reduced net loss in Q2 FY25 amid strong H1 pre-sales and collections

Author : PNT Bureau
Mahindra Lifespace Developers reported a net-loss of INR 13.99 crore in Q2-FY25, a significant improvement from the INR 29.76 crore loss in Q2-FY24. Consolidated-income decreased by 37.9% to INR 15.96 crore. Despite a muted quarter, the company achieved INR 397 crore in pre-sales and INR 459 crore in collections. A strategic agreement was reached for a 26% equity-stake in Ample Parks MMR, with an INR 20.05 crore investment over three years. H1-FY25 saw strong performance with INR 1,415 crore in pre-sales, 77% growth, and land-leasing of 34.9 acres for INR 163.2 crore....
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Phoenix Mills Q2 profit drops 4.34% amid growth in revenue and strategic acquisitions

Author : PNT Bureau
Phoenix Mills reported mixed financial results for Q2 FY25, with a 4.34% decline in consolidated net profit to INR 290.64 crore, while total income grew by 5.34% to INR 955.06 crore compared to the same quarter last year. The company increased its paid-up equity share capital by INR 35.75 crore through employee stock options and bonus share issuance. Additionally, through its subsidiary Astrea Real Estate Developers, Phoenix Mills acquired six companies for INR 290.10 crore, making them step-down subsidiaries. These acquisitions and capital structure changes indicate the company's strategic expansion efforts despite the profit decline....
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Indian office space market set to absorb over 70 million sq. ft. in 2024, driven by tech and BFSI sectors

Author : PNT Bureau
According to Savills India, the office space market in India is expected to absorb over 70 million square feet this year, with demand reaching 55.1 million square feet from January to September-a 30% year-on-year increase. Major cities like Bengaluru, Delhi-NCR, and Mumbai accounted for 66% of total leasing activity, with large deals constituting 50%. Despite a slowdown in new completions, vacancy rates dropped to 15.5%. Bengaluru led with 6.2 million square feet absorbed in Q3 2024, while Delhi-NCR saw a remarkable 92% increase in absorption. Overall, the market is driven by technology, BFSI, and flexible workspace sectors....
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JSW Infrastructure reports robust Q2 growth with key expansions and new port projects

Author : PNT Bureau
JSW Infrastructure reported a 46% rise in net profit for Q2 FY25, driven by increased cargo volume and an improved revenue mix. The company achieved a net profit of INR 374 crore on revenues of INR 1,088 crore, with EBITDA climbing 22% to INR 607 crore. Total cargo handled surged 16% to 27.5 million tonnes per annum (mtpa), boosted by coal terminals at Mangalore, Paradip, and Ennore, along with contributions from recently acquired ports. The firm also received a letter of intent for a greenfield port in Maharashtra, aiming for an initial capacity of 33 mtpa. With plans to increase capacity to 400 mtpa by FY30, JSW Infrastructure is poised for significant growth in the maritime sector, backed by ongoing expansion projects and strategic initiatives....
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