10 May 2024

CapitaLand India Trust (CLINT), a Singapore-based REIT, expands its presence in Hyderabad's IT hub by acquiring 2.5 million sq. ft. of office space in HITEC City. The forward purchase agreement with Phoenix Group secures prime assets in a location with strong leasing demand. CLINT's phased investment approach strategically manages cash flow while benefiting from the area's growth potential. CEO Sanjeev Dasgupta highlights the strategic value of the acquisition, building on CLINT's successful track record in Hyderabad. This move highlights Hyderabad's appeal to major investors, driven by world-class infrastructure, SEZs, a skilled workforce, and government support, ensuring continued growth and innovation in HITEC City.Read more

10 May 2024

Raymond Ltd. reports an 18% increase in consolidated profit after tax, reaching INR 229 crore in the last quarter of FY24, with a significant improvement from the previous year. Consolidated net revenue also rose by 23% to INR 2,688 crore. For the entire fiscal year, consolidated profit after tax surged to INR 1,638 crore, showcasing a growth of over 200%. Chairman Gautam Hari Singhania attributes this success to positive performance across all business segments, notably the real estate segment, which saw strong booking momentum. Raymond's diversification into high-growth sectors like aerospace, defence, and auto components further strengthens its position for future growth. Singhania's re-appointment as Managing Director reflects confidence in his leadership and vision for the company's future.Read more

10 May 2024

The Trehan Group has launched a new affordable housing project called Shalimar Heights in Alwar, Rajasthan. Located just 10 minutes from the Delhi-Mumbai Expressway, the project offers connectivity to Delhi, Gurugram and Jaipur. Comprising 320 units of 1BHK and 2BHK flats priced between Rs. 10.25-23.99 lakhs, the project is part of Trehan Group's 200-acre township Apna Ghar Shalimar. Managing Director Saransh Trehan stated the project aims to fulfill the aspirations of homebuyers seeking affordable homes with amenities like security, backup power and recreational spaces.Read more

09 May 2024

UrbanWrk inaugurated a cutting-edge workspace spanning 50,000 sq ft at Raheja Mindspace, Hi-Tech City, Hyderabad, catering to enterprises with 50-500 employees. The design emphasises functionality and elegance, featuring a minimalist aesthetic with wooden rafters guiding visitors to various sections. With Hyderabad's flexi space market accounting for 6% of India's total, UrbanWrk's strategic move anticipates the city's entrepreneurial growth. Anuj Munot, Co-Founder and CEO, highlights the space's appeal to professionals and businesses seeking adaptability. With tech, BFSI, and flex spaces driving demand, Hyderabad's diverse industry landscape positions it for sustained flexi workspace growth, aligning with UrbanWrk's expansion strategy.Read more

09 May 2024

Godrej Properties, renowned for its quality and trust, is embarking on an aggressive expansion plan, aiming to launch residential projects worth INR 30,000 crore across major Indian cities this fiscal year. Bolstered by record-breaking sales bookings of INR 22,527 crore in 2023-24, the company solidifies its position as India's largest publicly listed real estate developer. Notable achievements include acquiring a 4-acre land parcel in Bengaluru and entering the Hyderabad market with a 12.5-acre acquisition. With a focus on sustainable construction practices and strategic expansion into key markets, Godrej Properties is poised for continued success.Read more

08 May 2024

Kalpataru Ltd. has secured the rights to redevelop a housing society in Mumbai's Lokhandwala area, with a projected value of INR 2,100 crore. This ambitious project encompasses transforming nearly 4 acres of land, including 12 existing residential buildings, into a modern development exceeding 8 lakh sq. ft. Kalpataru plans to prioritize resident well-being by providing 3 lakh sq. ft of redeveloped space for existing residents, alongside saleable space projected to generate significant revenue. Emphasizing modern design and amenities, including green spaces with mangrove views, the project aligns with Mumbai's redevelopment boom, contributing to urban revitalization. This strategic move reflects Kalpataru's commitment to meeting evolving buyer preferences and capitalizing on Mumbai's real estate potential.Read more

08 May 2024

E-infra, a prominent developer with a vast portfolio, has teamed up with Hero FinCorp to develop Elegant Nivasa, a luxury residential project in Hyderabad's prime location of Tellapur. Spread across 4 acres, the project comprises three 23-floor towers offering spacious apartments ranging from 1375 to 2205 sq. ft. With a lavish clubhouse and HMDA approval, Elegant Nivasa promises a luxurious lifestyle adhering to all regulations. This partnership aims to achieve a turnover of INR 300 crore in three years, supported by Hero FinCorp's financial expertise. Both parties' express enthusiasm for the collaboration, emphasizing luxury living, architectural finesse, and community building.Read more

07 May 2024

Lohia Global, a conglomerate spanning multiple sectors, is entering the real estate market through its subsidiary, Lohia Developers, targeting India's premium housing segment in tier-II cities. With a substantial investment of INR 1,000 crore, they plan to develop five projects covering 30 lakh square feet in Moradabad, Lucknow, and Delhi NCR over five years. Director Pyush Lohia cites increasing demand for high-quality housing in tier-II cities, driven by rising disposable incomes. With a significant land bank, they aim to construct 175 villas in Moradabad initially, followed by group housing projects in Delhi and Lucknow. This strategic move aligns with Lohia Global's ambitious revenue target of USD 1 billion by 2030, with real estate projected to contribute significantly. While their focus on tier-II cities and premium housing presents a novel approach, its success will be closely monitored by industry observers.Read more

07 May 2024

Indiabulls Real Estate has bolstered its presence in Mumbai through the strategic acquisition of Sky Forest Projects (SFPPL), completed by its subsidiary, Indiabulls Constructions. The acquisition, valued at approximately INR 646.71 crore, grants Indiabulls full ownership of Sky Forest, a residential project in Lower Parel. Despite reporting a consolidated net loss of INR 1,038.65 crore for FY24, indicating a rise from the previous year, the move underscores Indiabulls' commitment to Mumbai's real estate market. Analysts view the acquisition positively, citing Lower Parel's established commercial and residential status, though effective project management will be crucial amid rising construction costs and market competition. The acquisition marks a pivotal moment for Indiabulls Real Estate, signaling confidence in Mumbai's growth potential and the premium residential segment.Read more

07 May 2024

Tulip Infratech's luxury project, Tulip Monsella, in Gurugram, witnessed remarkable success with its second phase launch, generating over INR 300 crore in sales on the first day alone. The project offers a comprehensive mixed-use development spanning 60 lakh sq. ft., including luxurious residential units and 6 lakh sq. ft. of commercial space. The competitive pricing at INR 27,000 per sq. ft. attracted discerning homebuyers, leading to rapid sales. The project's strategic location, upscale amenities, and Tulip Infratech's proven track record contribute to its appeal. This success signals a strong demand for high-quality luxury developments in Gurugram's real estate market.Read more