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....
Incuspaze aggressively expands portfolio to meet rising demand for flexible workspaces in India
Author : PNT Bureau
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....
Larsen & Toubro (L&T) expects order book to grow by INR 1 trillion in FY25
Author : PNT Bureau
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....
DevX expands coworking footprint with new 35,000 sq ft facility in Jaipur
Author : PNT Bureau
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....
Casagrand launches 30 acre luxury township at Sholinganallur
Author : PNT Bureau
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....
Housing companies leverage Akshaya Tritiya festival to boost home sales
Author : PNT Bureau
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....
Birla Estates' Silas Tower at Birla Niyaara records sales of INR 2500 crore at launch
Author : PNT Bureau
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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