03 Jun 2024

Godrej Properties Ltd., a leading real estate developer in India, recently announced the sale of over 650 homes worth INR 2,000 crore from its project Godrej Jardinia in Noida's Sector 146. Launched in May 2024, Godrej Jardinia witnessed the highest ever sales value achieved for a GPL project in Noida. It marked the company's fourth project in the National Capital Region to cross INR 2,000 crore in sales over the past four quarters. Sector 146 is an upcoming residential corridor providing access to infrastructure like the Noida SEZ and connectivity to Jewar Airport, metro stations and highways.Read more

31 May 2024

Navanaami Projects Private Ltd., a Hyderabad-based real estate developer, has unveiled its flagship luxury residential project, The Megaleio, at a gala event. With an investment of INR 900 crore (USD 108 million), The Megaleio targets high-net-worth individuals (HNIs) and ultra-HNIs. Featuring units priced between INR 8 crore and INR 12 crore, 20% of the units are already sold, reflecting strong demand. Located in Appa Junction Peerancheru, the project boasts two 50-floor towers with 150 opulent residences. The development emphasizes luxury and sustainability, offering unique amenities like branded kitchens, home automation, and EV charging facilities.Read more

31 May 2024

Residents of the Santacruz West Khotwadi slum in Mumbai have complained about not receiving rent for their homes and shops over the past six years as part of an ongoing redevelopment project led by Transcon Developers. Despite attempts to communicate their issues, the residents allege their pleas have been ignored and they have faced intimidation. They are now appealing to the government for urgent intervention to address the matter and protect their rights. Transcon Developers shared details of rent payments made and communications with authorities, stating all dues have been cleared and that the construction of new rehab buildings is also nearing completion.Read more

30 May 2024

Assetz Property Group, has launched Sora & Saki, an uber-luxury residential project at KIADB Hardware & IT Park in collaboration with Fairlark. This project features 990 spacious 3 and 4 BHK units with Large Living Balconies and over 25 world-class amenities, including a 25,000 sq ft clubhouse. Spread over 11.28 acres with 74% open space and a 50,000 sq ft retail area, Sora & Saki aims to redefine luxury living in North Bengaluru, offering modern design, convenience, and connectivity. Completion is expected by September 2028.Read more

30 May 2024

Sobha Group, a South Indian developer, is set to transform Mumbai's high-end housing segment. The company plans to quadruple its annual sales bookings in India to INR 30,000 crore (USD 3.7 billion) within 4-5 years, highlighting their confidence in the luxury market. Sobha's entry into Mumbai focuses on premium amenities, innovative design, and sustainability. They are exploring land purchases, joint ventures, and redevelopments to navigate Mumbai's dense landscape. Supported by a 28% increase in sales bookings and a robust financial strategy, Sobha's move promises to reshape Mumbai's luxury housing market, offering more options and fostering competition.Read more

30 May 2024

Brigade Group, a prominent South Indian property developer, has announced a new residential project in Bengaluru. This venture, positioned on a 6.9-acre site along Old Madras Road, highlights Brigade's strategic expansion in the city's thriving real estate market. The project will be developed through a Joint Development Agreement (JDA) and boasts a development potential of 800,000 square feet with an estimated gross development value (GDV) of INR 720 crore. This move highlights Brigade's confidence in Bengaluru's growth, driven by its IT sector and booming economy. The company continues to expand with additional projects across South India.Read more

29 May 2024

Phoenix Mills Limited's financial performance for Q4 FY24 impresses, with net consolidated profit after tax (PAT) surging by 32.61% YoY to INR 388.79 crore, up from INR 293.19 crore in Q4 FY23. The company's net consolidated total income witnessed a remarkable 77.96% growth to INR 1,343.14 crore, driven by a substantial 79.13% increase in income from operations to INR 1,305.94 crore. Despite a slight dip in EBITDA margin to 48%, operating EBITDA jumps by 46% to INR 627 crore. The board recommends a final dividend of INR 5 per equity share, reflecting Phoenix Mills' strong fundamentals and strategic positioning in the real estate sector.Read more

29 May 2024

Real estate developer DLF Ltd. plans to build upon the success of The Camellias luxury housing project with the upcoming launch of The Camellias 2 in Gurugram. Scheduled for Q3 2024-25, the 420-apartment Camellias 2 spread over 17 acres will be accessible only by invitation and have starting sizes of 9,000 sq ft, larger than Camellias. DLF will also debut a 62-villa project in Goa with prices from INR 40-50 crore, slated for August 2024. Both high-end developments aim to leverage strong demand for luxury living.Read more

29 May 2024

Real estate developer Sobha saw an 85.55% decline in net profit for Q4 FY24, totaling INR 7.02 crore, with total income dropping by 36.20% to INR 791.25 crore. Despite these setbacks, Sobha remains committed to growth and resilience. The board recommended a dividend of INR 3 per share (totaling INR 54.36 crore), demonstrating confidence in long-term prospects. Sobha also reduced net debt significantly over 14 quarters, achieving a debt-to-equity ratio of 0.50. Strategic moves include a 51% stake acquisition in C.V.S Tech Park and a planned rights issue to raise up to INR 20,000 million.Read more

28 May 2024

Signature Global, a prominent player in India's affordable housing sector, is strategically shifting towards the mid-income housing segment, aiming for significant growth. In FY24, the company reported a 112% increase in pre-sales to INR 72.7 billion (over USD 1 billion) and a 62% growth in collections to INR 31.1 billion (over USD 400 million). For FY25, Signature Global targets pre-sales of INR 10,000 crore (over USD 1.2 billion) and collections of INR 6,000 crore (over USD 750 million). With a substantial project portfolio and a focus on sustainable profitability, the company is well-positioned to meet the rising demand for mid-income housing in India.Read more