18 Nov 2024

According to CareEdge Ratings, India's listed real estate companies are expected to see strong growth in FY25, with pre-bookings forecast to exceed INR 1,30,000 crore and collections surpassing INR 80,000 crore, reflecting a 15-20% increase from FY24. Stable credit profiles, asset-light growth, and a low debt-to-collection ratio signal healthy financials for major players. Housing demand is projected to grow 10-15%, driven by a preference for premium units and rising property prices. Established developers benefit from early-stage bookings, while smaller developers face challenges securing initial funding. This trend underscores strong performance among major developers and ongoing market expansion.Read more

15 Nov 2024

The Guardians Real Estate Advisory achieved remarkable sales this Diwali, selling 243 units covering 1.60 lakh sq. ft. across Mumbai and Pune, with a turnover exceeding INR 361 crore. Units were sold across SOBO, Central & Thane, Western, KDMC & Navi Mumbai, and Pune, underscoring the festive season's influence on real estate. This follows record sales during Akshay Tritiya and Dussehra, marking Diwali as another key sales period. Market trends show high buyer confidence, driven by low financing rates and infrastructure growth. Director Ram Naik noted that Diwali buyers aim for stability and prosperity. The Guardians' success reinforces Mumbai's prominence as a prime investment location.Read more

15 Nov 2024

The Lucknow Development Authority (LDA) launched a festive offer that has resulted in the booking of 86 flats in just 15 days. The offer, valid until December 31, provides discounts ranging from INR 1 lakh to INR 2.5 lakh, depending on the price of the flats. Additionally, buyers can avail further discounts based on payment timelines. The flats come in various configurations and sizes, with prices ranging from INR 22 lakh to INR 1.08 crore. The offer is available in prime locations across Lucknow, including Gomtinagar, Jankipuram, and Aishbagh.Read more

15 Nov 2024

Aadhar Housing Finance has posted a 15.31% increase in its net consolidated profit for Q2 FY25, reaching INR 227.51 crore. The company's total income surged by 21.57% to INR 764.28 crore. It also expanded its branch network, adding 22 new branches in FY25, and saw its assets under management (AUM) grow by 21% to INR 22,817 crore. The company's return on assets (ROA) increased to 4.2%, and its return on equity (ROE) stood at 16.5%. Aadhar's efforts to improve asset quality were reflected in a reduction in gross non-performing assets (NPA) to 1.29%.Read more

15 Nov 2024

Brookfield India Real Estate Trust (REIT) announced a robust 40% increase in its net operating income to INR 485.8 crore for the September quarter. To reduce debt and fund future growth, the REIT plans to raise up to INR 3,500 crore through an institutional placement of units. The operating lease rentals rose 55% to INR 425.7 crore, driven by higher leasing volume and spreads. The company also achieved 1 million sq ft of gross leasing, with 0.7 million sq ft being new leases and two-thirds of these in the SEZ area. Committed occupancy increased to 85%. Brookfield India REIT owns 10 Grade A assets across major Indian cities, totalling 28.9 million sq ft of leasable area.Read more

15 Nov 2024

The Central Evaluation Committee has paused proposed hikes to Bhopal's collector guideline rates after concerns from local stakeholders, including MP Alok Sharma and CREDAI. The committee had already approved rate increases for 3,500 other locations across Madhya Pradesh, but Bhopal's case sparked debate due to a lack of consultation with key local officials. CREDAI has called for a three-year freeze on hikes, proposing lower rates to boost transaction volumes. Political factors, such as the model code of conduct due to upcoming by-elections, also influence the decision, emphasizing the need for inclusive decision-making in real estate policy.Read more

14 Nov 2024

The Municipal Corporation of Delhi (MCD) has launched a digital portal for zonal inspectors to submit daily inspection reports, aiming to improve property tax collection and expand the taxpayer base. The portal will track new taxpayers, property visits, and support weekly reviews of inspectors. To enhance transparency and continuity, the reports will include property details and issues impacting tax payments. This year, MCD has set ambitious collection goals and geo-tagged thousands of properties, with plans to make geo-tagging mandatory from the next financial year. MCD's recent initiatives address previous shortfalls in tax collection, aiming for a more efficient system.Read more

14 Nov 2024

Raymond Ltd. delivered strong Q2 results, with net profit doubling to INR 59 crore, primarily driven by the significant growth of its real estate and engineering divisions. Total revenue rose sharply to INR 1,044.7 crore, reflecting effective market strategies. The real estate segment alone achieved 135% year-on-year growth, with revenue at INR 571 crore, while the engineering sector posted a 121% increase. Chairman Gautam Hari Singhania stressed the importance of timely project delivery, highlighting the company's commitment to integrating residential and commercial ventures. Raymond's strategic approach highlights its dedication to sustainable growth and market leadership.Read more

14 Nov 2024

Hyderabad's housing market remains resilient, with a significant 20% growth in total sales value during the September 2024 quarter, despite a slight sequential dip. Square Yards reported a 7% rise in annual residential transactions, while leading developers like Aparna Constructions and Prestige Group observed strong demand for projects near the Outer Ring Road (ORR). The city saw a shift towards mid-to-high priced properties, with larger home configurations gaining popularity. The Western suburbs led in both transaction volume and sales value, underscoring the area's appeal among homebuyers and investors.Read more

14 Nov 2024

TARC Ltd. reported a significant net loss of INR 67.36 crore for the quarter ending September 30, 2024, compared to a profit of INR 1.06 crore in the same quarter last year. The company's income dropped drastically by 85.5%, falling from INR 34.67 crore to INR 5.02 crore. Despite the loss, TARC took proactive steps to manage its debt, including redeeming INR 1,000 crore in Series A debentures. Additionally, its subsidiaries raised funds through secured debentures and loans. These efforts are aimed at strengthening the company's financial position and improving its liquidity in the challenging period.Read more