Raymond Realty's 'The Address by GS' tops Bandra east with INR 291 crore sales in Q1 FY25
Author : PNT Bureau
Raymond Realty's residential project, 'The Address by GS,' led home sales in Bandra East during Q1 FY25, achieving INR 291 crore in sales and 96 units sold, more than double the next highest project. CEO Harmohan Sahni credits this success to the company's emphasis on timely delivery and high quality, underscored by their early completion of a previous project. With new Joint Development Agreements (JDAs) in premium Mumbai areas and a revenue potential of over INR 7,000 crore, Raymond Realty's expansion and focus on luxury have solidified its position among India's top real estate players....
Saya Group launches new ultra-luxury brand identity
Author : PNT Bureau
Saya Group has launched a new brand identity, marking its transition to the ultra-luxury real estate market. The rebranding includes a modern design focused on the letter 'A' and a colour palette of blue, orange, yellow, and red, symbolising trust, success, optimism, and luxury. Chairman & Managing Director Vikas Bhasin emphasised that this change reflects Saya Group's dedication to innovation, sustainability, and excellence. The group aims to secure prime locations and maintain high standards, aligning with the evolving demands of luxury homebuyers who seek exceptional living experiences....
Puravankara's net consolidated total income reached INR 675.55 crore in Q1 FY25, marking a significant growth of 101.17 percent compared to INR 335.81 crore in the same quarter last year. This impressive increase highlights the company's strong performance and successful business strategies during this period. The substantial rise in income indicates robust demand and effective management, positioning Puravankara favourably in the market. Quarterly sales remained stable at INR 1,128 crore, while customer collections rose by 39 percent to INR 965 crore. This financial milestone points to the company's ability to achieve substantial growth....
Sheth Homes plans INR 1,500 crore investment and IPO to boost valuation
Author : PNT Bureau
Sheth Homes aims to reach INR 3,000 crore in revenue by FY25, up from INR 1,500 crore for FY24. Chairman Ashwin Sheth plans an INR 1,500 crore investment in FY25 and INR 2,500 crore in FY26. The company is preparing for a possible INR 2,000-3,000 crore IPO in 18-24 months, potentially raising its valuation to INR 10,000 crore. Sheth Homes has reduced debt from INR 1,500 crore in March 2021 to INR 400 crore by March 2024, with a goal of zero debt before the IPO. The firm is expanding with new projects in Mumbai and Bengaluru, targeting significant growth across various real estate segments....
Ahmedabad sees 20-25% increase in commercial property launches
Author : PNT Bureau
Ahmedabad's commercial property sector is experiencing a resurgence, with new project launches expected to grow by 20-25% this year. This increase follows a period of low activity due to the COVID-19 pandemic. Data from GujRERA reveals 22 new commercial and 70 mixed-use projects in FY 2024-25, compared to 67 and 236 respectively in the previous year. Transaction volumes for office spaces surged by 219% in H1 2024, with significant contributions from local and out-of-state businesses. Despite a sluggish retail segment, the commercial market's recovery suggests a positive outlook for Ahmedabad's real estate sector....
GCCs to control 35% of India's commercial real estate by 2024, up from 26% in 2022
Author : PNT Bureau
In 2024, Global Capability Centres (GCCs) are projected to occupy 35% of India's commercial real estate, a significant rise from 26% in 2022. This growth is driven by the expanding need for office space in the booming GCC sector. The IT sector will maintain a 16% share, while GCCs are expected to absorb 21.83 million square feet of office space by year-end. Contributing 3.5% to India's GDP by 2030, GCCs are crucial for business innovation and efficiency. Mumbai and Bengaluru are key hubs, with 80% of GCCs serving international clients, reflecting India's strategic global business role....
Bengaluru tops GCC office leasing with 15.34 msf in 2023, driving future growth
Author : PNT Bureau
In 2023, Bengaluru led Global Capability Centres (GCCs) office space leasing with 15.34 million square feet, commanding a 53% share in the IT/ITeS sector. This positions Bengaluru ahead of other major cities like Mumbai and Hyderabad. The GCC sector's leasing activity is projected to grow to 26 million square feet by 2027, marking a 16% increase from 2018 levels. Despite a global economic slowdown, GCCs continue to thrive, with revenues expected to hit USD 46 billion by 2024. The number of GCCs in India rose from 1,250 in 2019 to about 1,600 in 2023, potentially reaching 2,525 by 2030....
Godrej Properties acquires 46-acre land in Indore for 1.16 million sq. ft. residential project
Author : PNT Bureau
Godrej Properties has acquired a 46-acre land parcel in Indore, aiming to develop plotted residential units with an estimated saleable area of 1.16 million square feet. This acquisition supports their strategy to invest in fast-growing urban areas. The Indore project aligns with the city's infrastructure developments and rising demand driven by the IT sector. Recently, Godrej Properties raised INR 1,275.40 crore through non-convertible debentures to support such expansions. This move follows their recent acquisitions in Hyderabad and Bengaluru, highlighting their focus on emerging markets with strong growth potential....
Arvind SmartSpaces Ltd sees 49% year-on-year growth in bookings
Author : PNT Bureau
Arvind SmartSpaces Limited reported strong financial results for Q1 FY25, with bookings rising 49% year-on-year to INR 201 crore and collections up 21% to INR 248 crore. Revenue from operations increased 11% to INR 75 crore. However, adjusted EBITDA and PAT declined to INR 8 crore and INR 5 crore, respectively. Net debt improved, decreasing to INR (58) crore. The company enhanced its project portfolio, including the high-rise development of Forest Trails Sarjapur and additional acreage at Uplands 2.0 and 3.0, adding INR 410 crore to the topline. CEO Kamal Singal expressed optimism about the healthy residential market and future growth....
Anamudi Real Estates LLP sells 4.4% stake in Sobha Ltd for INR 858 crore
Author : PNT Bureau
Anamudi Real Estates LLP, the family office of Godrej Industries Group, has divested a 4.4% stake in Sobha Ltd, selling 47.37 lakh shares at an average price of INR 1,810.44 each, totaling INR 857.70 crore. This reduces Anamudi's stake in Sobha to 5.57% from 9.99%, reflecting a strategic monetization of their investment which has yielded a tenfold return over four years. Meanwhile, mutual funds including Mirae Asset, Invesco, and Aditya Birla Sun Life purchased 23.09 lakh shares for INR 418.06 crore, demonstrating continued confidence in Sobha's growth plans. Sobha Ltd aims to quadruple its annual sales bookings to INR 30,000 crore within 4.5 years, bolstered by a recent INR 2,000 crore rights issue. Despite a 3.77% drop in Sobha's share price to INR 1,792.35, market analysts remain focused on the company's expansion strategy and its potential impact on the Indian real estate market....
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