Ashwin Sheth Group targets ambitious INR 5000 crore expansion and potential IPO
Author : PNT Bureau
Ashwin Sheth Group, a prominent Mumbai-based real estate developer, is set to embark on a major expansion drive. The company plans to invest around INR 5,000 crore to strengthen its presence in the Mumbai Metropolitan Region (MMR) and explore new markets like Bengaluru, Delhi-NCR, Hyderabad, and Chennai. Aiming to double its sales bookings to INR 3,000 crore in the current fiscal, the group also intends to launch its IPO within the next 18-24 months, seeking to raise up to INR 3,000 crore. This strategic move will enable the company to fund its ambitious growth plans and diversify its product portfolio into new segments like warehousing....
Keystone Realtors, a leading real estate developer, has announced strong operational performance for the first quarter of fiscal year 2025. The company achieved pre-sales of INR 6.11 billion, a 22% year-over-year growth, and collections of INR 4.85 billion. Keystone Realtors launched two new projects with a total saleable area of 0.63 million square feet and an estimated GDV of INR 20.17 billion. The company also added a new redevelopment project with a saleable area of 0.35 million square feet and an estimated GDV of INR 9.84 billion. This performance demonstrates Keystone Realtors' commitment to sustained growth and operational excellence....
Alphacorp presents the Alphacorp SKYI, a 500,000 square foot luxury residence in Gurugram
Author : PNT Bureau
Alphacorp announces Alphacorp SKYI, a luxury residential project in Gurugram's Sector 15, Part 2, featuring 200 exclusive units ranging from 2,400 to 3,600 sq. ft. The project emphasizes eco-friendly living with GRIHA Certified 4 Star and IGBC Gold 4 Star ratings, including rainwater harvesting and energy-efficient amenities. Strategically located for easy access and benefiting from Gurugram's expanding Metro network, Alphacorp SKYI promises luxury, sustainability, and convenience. Construction begins September 2024, with an estimated INR 350 crore investment, affirming Alphacorp's commitment to excellence in Gurugram's real estate market....
Experion Developers acquires INR 400 crore land parcel in Gurugram for a residential project
Author : PNT Bureau
Experion Developers, the Indian subsidiary of Singapore's Experion Holdings Pte Ltd, has been aggressively expanding its footprint in the premium residential market of Gurugram. The company has acquired a 7.81-acre plot at Dwarka Expressway for INR 400 crore, with plans to invest an additional INR 2,000 crore to build 3 million square feet of luxury homes. In the last one-and-a-half years, Experion has acquired five plots worth INR 2,100 crore, primarily in Gurugram, where it is launching new projects. The company's latest acquisition in Sector 88A is expected to generate a revenue of INR 3,700 crore. Experion's strategy of strategic land acquisitions and luxury project development aims to capitalize on the flourishing demand for premium residential properties in the region....
Lodha One Bund Garden's Emperor Palace penthouse sells for record-breaking INR 37 crore
Author : PNT Bureau
Pune's luxury real estate market has hit a new high with the sale of the "Emperor Palace" penthouse at Lodha One Bund Garden for an unprecedented INR 37 crore. This expansive 12,000-square-foot property, perched atop a residential tower, offers panoramic views of 500 acres of lush greenery, redefining luxury living in the city. Built by Lodha, the penthouse exemplifies Pune's growing demand for exclusive gated communities with top-tier amenities. This sale marks a significant milestone, surpassing previous high-end property sales and signaling continued growth in Pune's luxury real estate segment....
Mirae Asset chooses India for its first GCC outside South Korea
Author : PNT Bureau
South Korean investment giant Mirae Asset plans to establish its first Global Capability Centre (GCC) outside South Korea in India. The centre, expected to be operational by mid-2024, will manage back-office functions and leverage India's tech expertise to support Mirae Asset's USD 225 billion global operations. With over INR 1.16 lakh crore (USD 14.56 billion) in Indian Assets Under Management, Mirae Asset's Vice Chairman, Swarup Mohanty, highlighted the GCC's role in expanding their nine Indian businesses to 14-15 within four years. The centre will also enhance their ETF and AI capabilities, bolstering India's position as a global financial hub....
Chennai development body plans to launch affordable co-working centres in three locations
Author : PNT Bureau
The Chennai Metropolitan Development Authority (CMDA) plans to launch affordable co-working spaces in CIT Nagar, Anna Nagar, and Kolathur. These centres will offer high-speed internet, dedicated workstations, meeting rooms, and libraries, targeting middle-income employees, young professionals, and startups. With an investment of INR 30 crore, the facilities aim to reduce costs for users and revitalise urban areas. The CMDA plans to investigate public-private partnerships to ensure effective and sustainable operations. The initiative is well-received, provided it maintains standards akin to those of private co-working spaces, aiming to bolster the city's economic and urban development....
Ajmera Realty & Infra's Q1 FY25 sales bookings rose 36% to INR 306 crore
Author : PNT Bureau
Ajmera Realty & Infra India Ltd. reported a 36 percent increase in sales bookings, reaching INR 306 crore in the first quarter of this fiscal year, driven by strong demand. This marks a rise from INR 225 crore in the same period last year. Director Dhaval Ajmera credited the growth to the successful launch of 'Ajmera Vihara' in Mumbai. The company is optimistic about its future, with a substantial pipeline of seven new projects estimated at INR 4,300 crore. Ajmera Realty specialises in luxury and mid-luxury residential projects, boasting substantial development potential in Mumbai's premier locations....
SignatureGlobal makes strong start in FY25, targets INR 100 billion in pre-sales
Author : PNT Bureau
SignatureGlobal, a leader in affordable and mid-income housing in India, has reported a robust start to FY25 with INR 31.2 billion in Q1 pre-sales, marking a 255% YoY growth. This achievement surpasses 30% of their ambitious INR 100 billion full-year target. Collections also surged by 102%, reaching INR 12.1 billion, while net debt decreased by 16% to INR 9.8 billion. With an average sales realisation of INR 15,369 per sq ft, the company plans to stabilise this figure with new mid-income housing projects. SignatureGlobal's strong performance underscores their focus on affordability and readiness to meet growing housing demands in India....
Whiteland Corporation and Marriott International to invest INR 5600 crore in building Westin Residences in Gurugram
Author : PNT Bureau
Whiteland Corporation, a leading real estate developer in Delhi's NCR, has joined forces with Marriott International Inc. to bring the prestigious Westin Residences to Sector 103 in Gurugram. This partnership combines Whiteland's expertise in delivering high-quality, sustainable projects with Marriott's renowned brand and commitment to wellness. The Westin Residences project, estimated at a staggering investment of INR 5,600 crore, will offer a range of three- and four-bedroom residences spanning 235 to 386 square meters, catering to the discerning preferences of modern homebuyers. The project's design and amenities have been meticulously crafted by renowned industry experts, ensuring a harmonious blend of architectural excellence, lush landscaping, and sophisticated interiors....
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