Builders & Projects

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SPL expands portfolio with new mixed-use development in Undri, Pune

Author : PNT Bureau

Shriram Properties Limited (SPL) has signed a Joint Development Agreement for a six-acre land parcel in Undri, Pune, to develop a mixed-use project featuring over 650 apartments and retail/commercial spaces. With a total saleable area exceeding one million square feet, the project has an estimated revenue potential of INR 700-750 crore and is expected to launch in H2 FY25. SPL also plans to secure rights for an additional eight acres primarily for retail and commercial development....

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Panchshil Realty's Wagholi Estates sells 4.8-acre land in Pune for INR 103 crore to Vilas Javdekar Infinitee Developers

Author : PNT Bureau

Panchshil Realty's subsidiary, Wagholi Estates, sold a 4.8-acre land parcel in Pune's Wagholi to Vilas Javdekar Infinitee Developers for over INR 103 crore. The land is part of Panchshil's 4.5 million sq ft IT park project, with 1 million sq ft designated for residential development in this mixed-use layout. Registered on October 21 with a stamp duty of INR 7.21 crore, the transaction highlights growing demand for land in high-growth areas like Pune. As major cities such as Mumbai, Chennai, and Bengaluru expand, developers and investors are actively pursuing land for new residential, commercial, and mixed-use projects....

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Nimbus and Theme County take over Noida projects, providing relief for 1,000 homebuyers

Author : PNT Bureau

The Noida Authority has approved two projects under the Uttar Pradesh government's co-development policy to address stalled real estate developments. Nimbus Projects will oversee Sunworld Residency in Sector 168, and Theme County will manage a project in Sector 115, benefiting approximately 1,000 homebuyers. The initiative follows the Hawelia Group's takeover of Shree Radha Sky Garden in Greater Noida. The new developers are required to settle dues and secure funding to complete the projects. With around 190,000 housing units worth INR 1 lakh crore currently stalled in the region, this policy aims to revitalize the market....

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Lodha achieves highest-ever quarterly pre-sales, expands portfolio with key acquisitions in Pune and Bengaluru

Author : PNT Bureau

Lodha reported a record pre-sales performance of INR 42.9 billion for Q2FY25, despite seasonal challenges, achieving its third consecutive quarter of over INR 40 billion in pre-sales. The company completed a land sale in Palava to a global data center major, added four projects in Pune and Bengaluru with a GDV of INR 55 billion, and expanded its digital infrastructure stake to 67%. Lodha's net debt remains at INR 49 billion, within its target, and its debt cost declined to 8.9%. The company expects to meet its FY25 guidance of INR 175 billion, boosted by festive demand....

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Merlin Group plans major growth, doubling revenue with 40 million sqft development

Author : PNT Bureau

Merlin Group, Kolkata's largest real estate developer, is undertaking projects valued at INR 20,000 crore, which are projected to double its annual revenue within the next seven to eight years. With a development portfolio encompassing luxury residential complexes and commercial spaces, the group has completed 20 million square feet over four decades and currently has 30 million square feet under development. The group is also venturing into hospitality with the eastern region's first World Trade Centre, expected to feature a five-star property. The recent rebranding signifies the company's commitment to growth and innovation....

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Max Estates boosts Delhi NCR portfolio amid 90% revenue growth in Q2 FY25

Author : PNT Bureau

Max Estates Limited, part of Max Group, reported a consolidated total income of INR 52.77 crore in Q2 FY25, reflecting a nearly 90% increase from the previous year, despite a net loss of INR 1.38 crore. Key developments include the approval of the "Delhi One" project in Noida, with a gross development value of over INR 1,500 crore, and enhanced FAR for a new tower at Estate 128. The company raised INR 1,300 crore for expansion and achieved 93% occupancy in Max Square. For H1 FY25, consolidated revenue reached INR 80.7 crore, alongside strong lease rental growth, indicating potential for future growth....

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Urban Vault expands flexible workspace footprint in Bengaluru's central business district

Author : PNT Bureau

Urban Vault, a managed office space provider, has announced its expansion in Bengaluru's central business district by leasing 1.2 lakh square feet of office space across three buildings. According to founder Amal Mishra, Bengaluru's availability of affordable real estate and skilled talent make it an attractive destination for companies looking to enter the Indian market. Urban Vault offers desks ranging from INR 8,000 to INR 10,000 per month. During the financial year 2023-24, Urban Vault reported a turnover of over INR 100 crore and a net profit of 18%, with an occupancy level of 91% in its operational centres. With over 20 lakh square feet of office spaces and plans to expand to other major cities, Urban Vault is positioning itself as a key player in the flexible workspace segment....

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Noida: Lotus 300 homebuyers secure registrations after Supreme Court's intervention

Author : PNT Bureau

Following the Supreme Court's directive, registrations for flats at Lotus 300 in Sector 107 have begun, with 16 of over 100 homebuyers successfully completing the initial phase. The court upheld an Allahabad High Court order, mandating Noida Authority to proceed with flat registrations despite pending dues from the developer, resolving a decade-long battle for buyers. Efforts to complete registrations for all units and issue occupancy certificates are ongoing, providing long-awaited relief....

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Housr set to add 3,000 beds, expanding co-living options across India

Author : PNT Bureau

Housr, a leading co-living company, is planning a massive expansion to add over 3,000 beds across 30 new properties in seven cities, pushing their total inventory to over 8,000 beds in 100 properties by March 2025. The company aims to hand over 11-12 properties currently in the pipeline and foray into new markets like Chennai and Chandigarh. The company has seen a dramatic shift in demand, with a preference for single occupancy and larger private spaces over twin-sharing rooms, particularly post-pandemic. Housr has tripled in size over the last two years, driven by both organic and inorganic growth, and is now transitioning to offer super-premium products to cater to the evolving market needs. Housr is operating at an annual run rate of INR 100 crore and aims to double this figure over the next 12 to 15 months....

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Gurugram: Godrej Properties secures s 7.5-acre plot on Golf Course Road

Author : PNT Bureau

Godrej Properties Ltd (GPL) has secured the rights to develop a 7.5-acre group housing plot on Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot has a development potential of over 1.7 million square feet, comprising luxury residential apartments with an estimated revenue potential of over INR 5,500 crore. This acquisition is the 11th new project GPL has secured in the current financial year, taking the booking value added through new projects to INR 22,950 crore, surpassing the company's full-year business development guidance. Godrej Properties has also acquired two other prime parcels in the Golf Course Road micro-market, with an estimated revenue potential of over USD 1.5 billion....