17 May 2024

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.Read more

16 May 2024

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.Read more

16 May 2024

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.Read more

16 May 2024

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.Read more

15 May 2024

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.Read more

15 May 2024

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.Read more

15 May 2024

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.Read more

14 May 2024

The House of Abhinandan Lodha (HoABL) introduces One GOA, a revolutionary 130-acre luxury development in Bicholim, Goa, emphasising sustainability and opulent living. Featuring a 5-star hotel, expansive clubhouse, and a sprawling man-made beach, One GOA epitomises harmonious living amidst lush greenery. Designed by Enzyme architects, the project offers state-of-the-art amenities, including gyms, cafes, and a multi-cuisine restaurant. With Goa's infrastructure growth and improved connectivity, One GOA presents a lucrative investment opportunity. Committed to sustainability, the project boasts a carbon-negative status with over 3,000 trees planted. HoABL's portfolio spans 18 million sq. ft. across strategic locations in India, ensuring diverse investment options with growth potential.Read more

14 May 2024

Oberoi Realty has revealed plans to redevelop a 12,790 sq. metre plot in Adarsh Nagar, Worli, Mumbai, aiming to create new high-end residences. The project involves modernising seven buildings currently housing 504 flats, likely leased from the Maharashtra Housing and Area Development Authority. Expected to yield 624,000 sq. ft. of free sale space, Oberoi Realty's focus on high-end residences signifies a strategic move to target a specific segment of the Mumbai property market. Amidst a sales bookings slowdown, this redevelopment aims to revitalise Worli's Adarsh Nagar area, potentially incorporating sustainable features to attract environmentally-conscious buyers and redefine luxury living in the prime Mumbai location.Read more

14 May 2024

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.Read more