DLF builds momentum: Record sales and INR 36,000 crore pipeline fuel growth
Author : PNT Bureau
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....
The growth potential of India's emerging senior living sector
Author : PNT Bureau
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...
Gera Developments reveals 'Island of Joy' project in Pune
Author : PNT Bureau
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....
Chennai's real estate market sees major investment from Arihant Foundations
Author : PNT Bureau
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....
Peninsula Land Limited to create realty platform of INR 765 crore
Author : PNT Bureau
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....
Rustomjee Group launches The Panorama in Pali Hill, Mumbai with an anticipated GDV of INR 375 crore
Author : PNT Bureau
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....
Ridham Gada elected president of NAREDCO Maharashtra NEXTGEN
Author : PNT Bureau
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....
Brigade Enterprises acquires 4.6 acres land on Old Madras road for new project
Author : PNT Bureau
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....
KPIL achieves all-time high annual combined revenue
Author : PNT Bureau
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....
Suraj Estate Developers report rise in Q4 net profit despite drop in revenues
Author : PNT Bureau
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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