Brigade Group secures INR 1,524 crore with 1.7 million sq ft bookings in Q3 FY24
Author : PNT Bureau
In Q3 FY24, Brigade Group achieved remarkable milestones, booking 1.7 million square feet valued at INR 1,524 crores, with collections totalling INR 1,394 crores. The residential sector saw robust growth, while the office segment experienced its best leasing quarter post-COVID. Positive momentum was evident in retail leasing and hospitality sectors as well. The company plans to launch 10.8 million square feet of residential projects, 5 million square feet of office and retail projects, and commence construction on 1,000 hotel rooms in the next year. With a revenue increase of 50% and an EBITDA of INR 73 crores, Brigade Group demonstrates resilience and strategic foresight for sustained growth....
Godrej Properties has showcased robust financial performance in Q3 FY23-24, with a 6% YoY rise in consolidated net profit to INR 62.3 crore and a remarkable 68.4% surge in revenue to INR 330.4 crore. Despite sequential declines in profit and revenue, the company achieved a substantial 76% YoY increase in booking value to INR 5720 crore and a 43% rise in collections to INR 2411 crore. While facing challenges in areas like collections and deliveries, Godrej Properties remains optimistic about meeting its sales guidance. With eight new projects launched and brisk sales observed in NCR and Mumbai, the company is strategically positioned for sustained growth and market leadership in India's real estate sector....
Embassy Group ventures into Whitefield with INR 550 crore luxury residential project
Author : PNT Bureau
Embassy Group has finalized a joint development agreement for 3.75 acres of land in Whitefield, Bengaluru, aiming to introduce a premium residential project with an estimated revenue potential of INR 550 crore. The project will offer approximately 400 apartments across various configurations, with modern amenities and timeless aesthetics catering to millennials. Envisioned for Q4 FY24 launch, the development spans 5.4 lakh sq ft of saleable area and targets the growing demand from young professionals in the IT sector. Additionally, Embassy Group plans to launch INR 5,000 crore worth of inventory in the upcoming year to meet the demand for luxury living spaces....
DLF partners with Trident Group for a residential project in Andheri, Mumbai
Author : PNT Bureau
DLF, a major real estate player, is set to make its mark in Mumbai's property market with its first project in Andheri. The company, in collaboration with the Trident Group, is embarking on a Slum Rehabilitation Authority project with tentative pricing for apartments ranging from INR 5.5 crore to INR 7.5 crore. With a planned investment of INR 400 crore, DLF aims to achieve a saleable area of 3 million to 3.5 million square feet in the first phase, anticipating substantial demand across various segments....
Thane project a roaring success as Vihang Group sells 200 units in 10 days
Author : PNT Bureau
Thane-based real estate brand Vihang Group has achieved a remarkable feat by selling 200 apartments in its newly launched ‘Capital of Thane’ project within just 10 days, generating a revenue exceeding INR 150 crores. The success underscores the strong demand for residential properties along Thane's Ghodbunder Road. With an ambitious investment plan of INR 850 crores this year, Vihang Group aims to launch three more projects in the same micro-market. It is projecting an estimated sales potential of INR 2000 crores and anticipating a steady increase in expenditures over the next five years....
Runwal Group launches Runwal Garden City township in Dombivli
Author : PNT Bureau
The Runwal Group has launched 'Runwal Garden City,' a 250+ acre mega township project in Dombivli (E), featuring 250+ amenities including gardens, clubhouses, parks, and cricket grounds. Strategically located near key infrastructural developments like the Airoli-Katai Tunnel and Navi Mumbai Airport, the project offers seamless connectivity. Managing Director Subodh Runwal highlights the project's focus on lifestyle, with amenities catering to all age groups, extensive green spaces, and community-centric design. The township includes schools, retail spaces, and office areas, aiming to elevate Dombivli as a sought-after destination. The project reflects Runwal Group's commitment to holistic urban living and sustainability....
B&B Infra and Xanadu Realty launch Opulent Spire in 9 Jayanagar, Bengaluru
Author : PNT Bureau
B&B Infra and Xanadu Realty unveil B&B Opulent Spire in Bengaluru's prestigious 9 Jayanagar, offering luxurious 4 BHK residences starting at INR 4.99 crores. Positioned as a pinnacle of luxury living, this collaboration signifies a commitment to excellence and innovation in real estate. Aditya B. Raju of B&B Infra highlights their dedication to exceptional living experiences, while Vikas Chaturvedi of Xanadu Group emphasizes setting industry benchmarks. B&B Opulent Spire promises unparalleled luxury and sophistication, showcasing the expertise and commitment of both companies. With its prime location and innovative design, it redefines luxury living in Bengaluru, offering residents an unmatched lifestyle experience....
Hyderabad's Vamsiram Builders alleges identity theft in Mumbai redevelopment projects
Author : PNT Bureau
Vamsiram Builders, a prominent real estate firm based in Hyderabad, has lodged a complaint with the registrar of companies (ROC) and the ministry of corporate affairs, alleging misconduct in two Mumbai redevelopment projects worth INR 3,000 crore. The complaint accuses a Mumbai-based entity of fraudulently exploiting Vamsiram Builders' identity, including its name, logo, and project details, to execute these ventures in affluent areas like Khar West and Prabhadevi. Specifically naming Vamsiram Realty Pvt Ltd and its directors, the complaint cites instances of identity theft, urging swift regulatory action to rectify the breach and protect the company's reputation and interests....
Raymond Realty soars in Q3 FY24 with surge in sales and expansion plans
Author : PNT Bureau
Raymond reported a significant 91.92% increase in net consolidated profit for Q3 FY24, reaching INR 185.39 crore compared to INR 96.60 crore in the previous year. Consolidated total income rose to INR 2,450.32 crore, a growth of 11.40%. Raymond Realty's sales surged from INR 292 crore to INR 439 crore. Real estate segment revenue hits INR 435.98 crore, with a profit before tax of INR 94.18 crore. It has signed joint development agreements (JDA) exceeding INR 3,000 crore, contributing to a pipeline of projects worth over INR 5,000 crore. With INR 9,000 crore worth running projects and others potentially generating INR 16,000 crore, the revenue from Thane land is estimated to be INR 25,000 crore....
Arvind SmartSpaces Limited ventures into Surat with golf-themed residential project
Author : PNT Bureau
Arvind SmartSpaces Limited (ASL) ventures into Surat with a sprawling golf-themed development project spanning 300 acres, valued at INR 1,100 crore. Positioned along NH 48, it marks ASL's 19th project in Gujarat, following Ahmedabad and Gandhinagar. The joint development model ensures low capital intensity and higher returns (55% revenue share). Surat's strategic location as a business hub, coupled with its emerging demand for plotted development and weekend homes, enhances the project's appeal. Noteworthy features include a golf course, expansive clubhouse, orchards with thousands of trees, and a private lake. For future growth, ASL's expansion strategy targets Bengaluru, Pune, and MMR regions....
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