Builders & Projects

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Siroya Corp announces 1 million sq. ft. mixed-use development in Oshiwara, Mumbai

Siroya Corp has revealed plans for a massive mixed-use development in Oshiwara, Andheri West, with a staggering 1 million square feet of space. This project, encompassing residential, commercial, and retail areas, aims to redefine the area's landscape. With Oshiwara experiencing significant population growth, particularly among young professionals and families, the project's 600 residential units across two towers meet a rising demand for modern living spaces. The inclusion of commercial offices and retail spaces creates a self-sufficient community, promoting convenience and sustainability. Siroya Corp's proven track record and focus on quality instil confidence in the project's success, while its strategic location ensures excellent connectivity and accessibility....
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Innov8 expands to Delhi's Aerocity with a 9,500 sq. ft. coworking workspace

Innov8 has expanded its footprint in Delhi with the inauguration of its latest coworking space in Aerocity, featuring 9,500 square feet of workspace with 217 dedicated seats, state-of-the-art conference rooms, and meeting facilities. Strategically located near the Indira Gandhi International Airport and the Aerocity metro station, the center offers unparalleled accessibility for businesses. With a significant investment of INR 4 crore, Innov8 aims to set a new standard for coworking spaces in Delhi, catering to the needs of modern businesses while fostering a sense of community and collaboration. The launch of Innov8 Aerocity underscores the company's commitment to providing strategic locations, modern amenities, and fostering innovation and entrepreneurship in India's coworking space industry....
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DLF re-enters Mumbai's luxury property market with a target of INR 17,000 crore in sales bookings for FY25

Gurgaon-based real estate giant DLF is re-entering Mumbai's luxury property market after an 11-year hiatus, planning to launch projects with flats priced between INR 6 crore and INR 28 crore in FY25. Targeting INR 3,500-5,000 crore of its projected INR 17,000 crore sales bookings from Mumbai's super-luxury segment, DLF aims to capture a significant market share. Additionally, DLF will launch 62 exclusive villas in Goa, priced at INR 40-50 crore each, catering to high-end buyers, including NRIs. With a solid financial foundation and a focus on high-quality developments, DLF's strategic moves are poised to strengthen its position in India's luxury real estate market....
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ArisUnitern to boost Essem 18's real estate portfolio with comprehensive management services

ArisUnitern, a real estate service provider, has partnered with Essem 18 to enhance its real estate portfolio through development management services. This collaboration aims to fast-track Essem 18's 18-acre plotted development in Shettigere, Bengaluru, by securing INR 40 crore in financing and providing sales and marketing support. ArisUnitern's role includes end-to-end project management, reflecting a trend where developers seek specialized services for quality and timely delivery. This partnership highlights ArisUnitern's growth, securing eight projects and raising over INR 300 crore recently, and underscores the evolving focus on quality in the Indian real estate industry....
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Table Space bolsters presence in India with major leases in key urban hubs

Table Space, a managed office solutions provider, has leased over 2.5 million sq ft across Chennai, Mumbai, Hyderabad, and Bengaluru. In Chennai, it secured 500,000 sq ft at Mapletree Global Infocity Park and 160,000 sq ft with DLF. In Mumbai, it added 55,000 sq ft at Oberoi Commerz III, 200,000 sq ft at Runwal R-Square, and 29,000 sq ft at Raheja Altimus Worli, with plans for an additional 500,000 sq ft. In Hyderabad, it leased 260,000 sq ft at Mindspace IT park, planning for another 500,000 sq ft. In Bengaluru, it acquired 55,000 sq ft at UB City, 100,000 sq ft at Cafe Coffee Day Square, and plans for 500,000 sq ft in Whitefield....
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Bhumika Group expands to NCR with 8.5 lakh sq.ft development project

Bhumika Group, a leading real estate developer headquartered in Rajasthan, is expanding its retail portfolio in NCR with the addition of 8.5 lakh square feet of new space. Their current projects include a 5.5 lakh sq ft retail development in Faridabad located on a prime 2-acre Mathura Road frontage. They are also developing 3 lakh sqft under a PPP scheme and have started work on an NHPC Metro station redevelopment. The new projects are being funded through internal cash flows and bank loans, demonstrating Bhumika's strong financial position. Their innovative Urban Square Mall in Udaipur achieved full occupancy with over 80 domestic and international brands, revolutionizing shopping in Rajasthan....
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Oberoi Realty rises with 64% increase in net profit, defying market expectations

Oberoi Realty impressively reported a net profit of INR 788 crore (USD 94.39 million) in Q4 FY24, a remarkable 64.1% surge compared to the previous year, exceeding analyst expectations. Their revenue from operations soared by nearly 37% to INR 1,315 crore, reflecting robust demand for luxury projects despite a 10-15% price hike. With 228 units sold, Oberoi Realty maintains its appeal among affluent buyers. Additionally, boasting a low debt-equity ratio of 0.18 and a net worth of INR 13,844.41 crore, the company stands financially strong for future expansion and investment, signaling a promising trajectory in India's luxury real estate sector....
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Nimbus Realty launches luxury project "The Palm Village" on Yamuna Expressway

Nimbus Realty released Nimbus The Palm Village, a luxury residential development near the Yamuna Expressway in Noida. The construction features 3 BHK independent floors, 1 BHK furnished flats, and High Retail street businesses, as well as Spanish architecture and ample green space. The property includes lavish amenities like a swimming pool, gym, and numerous gardens, which improve the living experience. The Palm Village, which is strategically positioned near major highways, metro connectivity, and the new Jewar International Airport, promises to raise luxury living standards while attracting investors and businesses to Noida....
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Mumbai's Vaidya Spaces unveils investment plans of INR 1,000 crore across prime projects

Vaidya Spaces Pvt. Ltd., a prominent Mumbai developer, unveils a significant investment plan of INR 1,000 crore for upcoming residential and commercial projects. Their focus remains on large-scale redevelopment in prime Mumbai areas, marking a year of milestones and continued growth. Notable achievements include completing projects ahead of RERA timelines and showcasing resilience during the COVID-19 pandemic. Led by seasoned architects Jayant and Sadhana Vaidya, the company boasts a flawless track record and a commitment to excellence. Their accessibility and unwavering dedication, coupled with a flawless record under MahaRERA, establish unprecedented standards in the real estate industry, shaping Mumbai's future development....
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County Group achieves milestone by completing three housing projects in one year

Leading real estate developer County Group has set a new benchmark in the industry by completing over 41.50 lakh square feet across its three housing projects - Coco County, Ivy County and County 107 - in just one year. This is a notable achievement given Noida's reputation for delays and litigation in real estate. The projects were delivered ahead of their committed RERA timelines, showcasing County Group's excellence and efficiency. Coco County is a 12.21 lakh sq ft premium project in Greater Noida, Ivy County is a 14.74 lakh sq ft luxury project in Noida, and County 107 is a 14.78 lakh sq ft ultra-luxury project in upscale Sector 107, Noida. All feature thoughtfully designed luxury living spaces. With a track record of on-time deliveries, zero complaints, and resale value appreciation, the company is trusted for landmark projects across NCR....
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Ajmera Realty & Infra India Ltd.'s Q4 FY24 profit at INR 77 crore, marking a fivefold growth journey

Ajmera Realty & Infra India Ltd experienced a remarkable rise in its financial performance for Q4 FY24 and the full fiscal year. Net consolidated profit soared by 90.40%, reaching INR 28.77 crore, while total income jumped by 98.71% to INR 234.08 crore. The company announced a final dividend of INR 4 per equity share and appointed Hemanti Prashant Sutaria as an independent director. Sales value doubled to INR 287 crore in Q4, with collections growing by 91%. Despite growth, the debt-equity ratio improved to 0.90:1. The company aims for 5x growth, projecting a 33% increase in pre-sales for FY25....
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DLF builds momentum: Record sales and INR 36,000 crore pipeline fuel growth

DLF, India's leading property developer, exceeded expectations in Q4FY24, with a 62% rise in net profit to INR 920.71 crore and a 47% surge in revenue to INR 2,134.84 crore. Total FY24 revenue reached INR 6,427 crore, driven by record sales bookings of INR 14,778 crore. The company plans to launch 11 million sq. ft of residential projects in FY25 across markets like Gurugram, Mumbai, Goa, and Chandigarh, targeting a sales potential of INR 36,000 crore. DLF's robust cash flow of INR 4,385 crore and net cash position of INR 1,547 crore position them for sustained growth amidst evolving buyer preferences....
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The growth potential of India's emerging senior living sector

India's senior living sector is poised for significant expansion in the coming years. The market is projected to grow fivefold, reaching a value of $12 billion by 2030, driven by demand from seniors seeking customized care housing. Currently a nascent sector, it offers major opportunities for developers as India's population ages rapidly. Projections indicate over 1.5 million new senior living units will be needed in the next decade to house the growing elderly population, which is projected to double to 230 million in the next 10-12 years. Developers like Wadhwa Group and Prescon Group are enhancing offerings by integrating advanced facilities and strategic partnerships to meet seniors' diverse needs holistically. With government support and guidelines enhancing quality standards, India's seniors can look forward to vastly improved housing and lifestyle choices tailored for active aging...
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Gera Developments reveals 'Island of Joy' project in Pune

Gera Developments is celebrating a decade of its innovative ChildCentric Homes concept with the launch of Gera's Island of Joy in Pune. This 12.5-acre project offers 1,800+ homes, unparalleled amenities like clubhouses, Go-Kart racing, a wave pool, and bowling alley, along with 9 celebrity-led learning academies. Strategically located near IT hubs, it emphasises sustainability. Rohit Gera highlights their commitment to crafting exceptional living spaces for modern families. Amidst substantial growth in Pune's real estate market, Gera maintains equilibrium between supply and demand while increasing apartment sizes to meet evolving family needs....
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Chennai's real estate market sees major investment from Arihant Foundations

Arihant Foundations plans to invest INR 650 crore in real estate projects in Chennai and Bengaluru by FY25, focusing INR 150 crore on Grade A office spaces in Bengaluru. The Chennai-based developer aims to develop 0.5 million sq ft of commercial space and 1 million sq ft of residential space in both cities. Arihant's MD Kamal Lunawath highlights new commercial and residential projects, including premium and mid-segment apartments and senior living developments in Chennai. The company targets 15-20% growth in FY25, driven by increasing investment in Chennai's real estate market and robust office leasing activities....
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Peninsula Land Limited to create realty platform of INR 765 crore

Peninsula Land Limited, a prominent real estate developer, secures INR 150 crore through Optionally Convertible Debentures from Arsenio Strategies Private Limited, an affiliate of Alpha Alternative Holdings Private Limited. This investment facilitates the formation of a real estate platform worth INR 765 crores, shared with Delta Corp Limited. AA Holdings contributes 59%, Delta Corp follows with 29%, and Peninsula Land contributes 12%. Peninsula Land will exclusively manage development, leveraging Delta Corp's expertise. The trio aims to capitalise on real estate opportunities, pooling resources to deliver successful projects. This collaboration marks a strategic move to unlock value and drive growth in the sector....
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Rustomjee Group launches The Panorama in Pali Hill, Mumbai with an anticipated GDV of INR 375 crore

Renowned real estate developer Rustomjee Group introduces 'The Panorama', a luxury residential project in Bandra West's Pali Hill. Following the success of 'Parishram', this venture anticipates a Gross Development Value of 375 crore rupees. Offering 4 and 5 bedroom residences, each unit features a 44 feet long balcony, providing exclusivity and stunning city views. With amenities like a swimming pool and rooftop terrace, 'The Panorama' prioritizes privacy and comfort for about 20 families. Positioned in Mumbai's cultural hub, it ensures access to premium social infrastructure....
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Ridham Gada elected president of NAREDCO Maharashtra NEXTGEN

Ridham Gada has been elected as the new president of NAREDCO Maharashtra NEXTGEN, succeeding Rishabh Siroya who will now serve as chairman of NAREDCO Maharashtra NEXTGEN. As a partner at Prem Group and with over 15 years' experience in real estate, Ridham aims to foster growth and ensure a robust sector during his tenure. He is well-known for his innovative approach and vision to create living spaces beyond square footage. Both Prashant Sharma of NAREDCO Maharashtra and Rishabh Siroya expressed confidence in Ridham's leadership and ability to inspire young professionals....
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Brigade Enterprises acquires 4.6 acres land on Old Madras road for new project

Brigade Group has successfully secured a prime parcel of land on Old Madras Road in Bengaluru, marking a significant milestone in their real estate endeavours. With a hefty investment of INR 660 crore, the residential project will sprawl across 4.6 acres, emphasising sustainability as a core principle. Managing Director Pavitra Shankar highlights the project's strategic alignment with Brigade's growth trajectory, emphasising its commitment to providing eco-friendly living spaces tailored to meet customer preferences. With an extensive pipeline totalling 12.61 million square feet, Brigade Group continues to revolutionise urban living standards across Bengaluru, Chennai, and Hyderabad....
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KPIL achieves all-time high annual combined revenue

Kalpataru Projects International Limited (KPIL) reported stellar financial performance for Q4 FY24 and FY24. Revenue grew 22% YoY in Q4 and 20% in FY24, while EBITDA surged 36% and 19% respectively. Profit figures (PBT and PAT) also witnessed significant YoY growth. With a strong order book of INR 58,415 crores, up 27% YoY, and new orders worth INR 30,022 crores in FY24, KPIL is well-positioned for future growth. The company proposed a dividend of INR 8 per share and plans to strengthen its position in T&D and civil construction, leveraging the infrastructure push in India and globally....
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Suraj Estate Developers report rise in Q4 net profit despite drop in revenues

Real estate developer Suraj Estate Developers reported a 17.44% rise in Q4 FY24 net profit to INR 19.46 crore, despite a 75.22% drop in net consolidated total income to INR 103.03 crore for the quarter. The company's effective cost control measures led to a 54% growth in EBITDA and 710 bps rise in margins. Collections for FY24 stood at INR 316 crore. The board approved plans to raise up to INR 500 crore through various means and acquisition of a redevelopment project in Mumbai with a GDV of INR 120 crore....
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Incuspaze aggressively expands portfolio to meet rising demand for flexible workspaces in India

Flexible workspace provider Incuspaze has been rapidly expanding its portfolio across major Indian cities to capitalize on the growing demand for flexible office spaces. In one of the largest leasing deals of 2024, Incuspaze leased over 350,000 square feet of office space in Gurgaon. The company also leased significant spaces in Pune and Jaipur as part of its target to add 1.5 million square feet to its portfolio this year. Incuspaze aims to grow its total portfolio to 7 million square feet by 2026, driven primarily by demand from large and mid-sized enterprises seeking cost-effective, flexible workspace solutions....
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Larsen & Toubro (L&T) expects order book to grow by INR 1 trillion in FY25

Engineering conglomerate Larsen & Toubro (L&T) expects its order book to grow by INR 1 trillion to INR 5.75 trillion in FY25, driven by a 10% increase in order intake and 15% revenue growth. However, L&T remains cautious about disruptions from ongoing general elections in the first half of the year. In FY24, L&T's order book expanded to INR 4.75 trillion with a 15% rise in annual revenues. In Q4FY24, L&T reported a 10.3% rise in net profit to INR 4,396.12 crore. Segment performances were mixed with infrastructure and energy orders growing strongly. L&T has earmarked a capex of INR 4,000 crore for FY25....
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DevX expands coworking footprint with new 35,000 sq ft facility in Jaipur

DevX, a leading provider of managed coworking spaces and startup accelerator in Gujarat, has opened a new 35,000 square foot facility in Jaipur. The company aims to expand this new center by an additional 200,000 square feet in the next year. Founded in 2017, DevX supports startups through infrastructure, partnerships and events. It takes an equal partner approach to help companies grow. The new Jaipur center will deepen DevX's presence in North India and accommodate global clients like Persistent Systems. DevX plans to invest 60 crores to double its national portfolio to 25 centers by 2024, targeting growth-focused companies seeking top-quality managed workspaces....
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Casagrand launches 30 acre luxury township at Sholinganallur

Casagrand HolaChennai is a 30-acre luxury township launched by Casagrand in Sholinganallur, Chennai. Housing 1818 apartments, villas and signature villas, it offers over 160 high-end amenities aimed at supreme comfort, leisure and community living. Priced starting INR 4599/sqft versus the market rate of INR 6500/sqft, it provides great value. Strategically located opposite Infosys with proximity to IT parks, schools and hospitals, the area is poised for growth. Tailored amenities for families, kids and seniors promise a luxurious lifestyle unmatched in the locality. Casagrand HolaChennai is set to become the benchmark for luxury living for discerning homebuyers in Chennai....
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Housing companies leverage Akshaya Tritiya festival to boost home sales

Several leading real estate developers in Mumbai launched attractive promotional offers and schemes during the recent Akshaya Tritiya festival to take advantage of the positive sentiment around property purchases and further increase home sales. Traditionally considered an auspicious time for major investments like property buying, housing companies introduced exciting games, lucky draws, cash discounts and other incentives at some of their key projects to leverage the festive spirit of Akshaya Tritiya and ride the ongoing growth momentum in the real estate sector....
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Birla Estates' Silas Tower at Birla Niyaara records sales of INR 2500 crore at launch

Birla Estates Private Limited, a subsidiary of Century Textiles and Industries Limited, announced that its tower Silas at Birla Niyaara recorded sales of INR 2,500 crore at launch. This pushed Birla Niyaara's total sales so far to over INR 5,400 crore. Silas features 148 palatial 4BHK-5BHK residences, continuing the luxury legacy of the first tower. This tower is the second phase of Birla Niyaara. In the first phase, the company launched 414 flats, of which it has closed over 85% of sales. The company aims to reach a gross pre-booking value of approximately INR 3,000 crore through its three projects in Mumbai and Bengaluru - Worli and Walkeshwar in Mumbai and RR Nagar in Bengaluru....
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The House of Abhinandan Lodha (HoABL) announces One GOA, a luxury project

The House of Abhinandan Lodha (HoABL) introduces One GOA, a revolutionary 130-acre luxury development in Bicholim, Goa, emphasising sustainability and opulent living. Featuring a 5-star hotel, expansive clubhouse, and a sprawling man-made beach, One GOA epitomises harmonious living amidst lush greenery. Designed by Enzyme architects, the project offers state-of-the-art amenities, including gyms, cafes, and a multi-cuisine restaurant. With Goa's infrastructure growth and improved connectivity, One GOA presents a lucrative investment opportunity. Committed to sustainability, the project boasts a carbon-negative status with over 3,000 trees planted. HoABL's portfolio spans 18 million sq. ft. across strategic locations in India, ensuring diverse investment options with growth potential....
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Oberoi Realty to redevelop 12,790 sq. metre leased land for high-end residences

Oberoi Realty has revealed plans to redevelop a 12,790 sq. metre plot in Adarsh Nagar, Worli, Mumbai, aiming to create new high-end residences. The project involves modernising seven buildings currently housing 504 flats, likely leased from the Maharashtra Housing and Area Development Authority. Expected to yield 624,000 sq. ft. of free sale space, Oberoi Realty's focus on high-end residences signifies a strategic move to target a specific segment of the Mumbai property market. Amidst a sales bookings slowdown, this redevelopment aims to revitalise Worli's Adarsh Nagar area, potentially incorporating sustainable features to attract environmentally-conscious buyers and redefine luxury living in the prime Mumbai location....
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Godrej Properties reports strong Q4FY24 results: PAT up 14% to INR 471 crore

Godrej Properties (GPL) reported a 14% rise in Q4 FY24 profit to INR 471 crore, up from INR 412 crore year-on-year. However, revenue fell 15% to INR 1,426 crore. For FY24, revenue rose to INR 3,035 crore from INR 2,252 crore in FY23, while adjusted EBITDA increased to INR 1,379 crore. The company added 10 new housing projects in FY24 with a total revenue potential of INR 21,225 crore, 42% more than its guidance of INR 15,000 crore. Total bookings for FY24 grew 84% to a record INR 22,527 crore driven by 20 million square feet of space sales. Going forward, GPL targets FY25 bookings of INR 27,000 crore....
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Shriram Properties announces acquisition of 4-acre land parcel in Chandapura, Bengaluru

Leading South Indian real estate developer Shriram Properties Limited (SPL) has announced the acquisition of a 4-acre land parcel in Chandapura, Bengaluru to develop a luxury residential project. The project will consist of approximately 350 meticulously designed apartments within a saleable area of 4 lakh square feet, with an estimated revenue of over Rs. 250 crores. Nestled in vibrant Chandapura with proximity to IT parks and amenities, the project aims to provide a high-quality living experience. SPL has a robust pipeline of 47 projects with 51 million square feet of saleable area, including 25 ongoing projects of 23.5 million square feet as of March 31, 2024....
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Arvind SmartSpaces profits up by 62%, bookings hit record high of INR 1,107 crore

Arvind SmartSpaces Ltd., renowned for its premium real estate developments in Ahmedabad, Bengaluru, and Pune, reported robust financial results for the quarter and fiscal year ending March 2024. With a remarkable 67% increase, the company's net profit for Q4 2023-24 surged to INR 15.49 crore, while the annual net profit reached INR 41.57 crore, reflecting a substantial 62% growth. Impressively, Arvind SmartSpaces achieved its highest-ever annual sales bookings of INR 1,107 crore, marking a notable 38% increase from the previous year's bookings. This stellar performance is attributed to strategic expansion efforts, new project acquisitions, and a heightened focus on customer satisfaction....
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