24 Apr 2024

Sunteck Realty Ltd, a real estate developer in India, reported a 20% annual growth in sale bookings, reaching INR 1,915 crore in the last fiscal year. This impressive achievement reflects the strong housing demand in the country. The company witnessed a 26% increase in sale bookings during the fourth quarter, amounting to INR 678 crore. Sunteck Realty expanded its portfolio by adding seven large projects in the Mumbai Metropolitan Region, with a combined Gross Development Value of over INR 30,000 crore. Additionally, the company diversified into the annuity income segment by acquiring two leased assets at Bandra-Kurla Complex, positioning itself for steady rental income.Read more

23 Apr 2024

Premium real estate developer Ashiana Housing sold out 224 luxury flats worth INR 440 crores within 15 minutes of launch. The project 'Ashiana Amarah Phase 3' located in Gurugram sector 93 saw registration begin at 11 am, with 800 cheques received by 11:15 am for the 224 units. Company JMD Ankur Gupta attributed the incredible response to their quality offerings and strong brand value over the years, as well as the kid-centric amenities appealing to buyers seeking better quality of life for their children. Going forward, Ashiana Housing aims to continue expanding its premium portfolio across India.Read more

23 Apr 2024

Kolte-Patil Developers' annual sales in FY24 reached 3.92 million square feet, marking a significant 20% increase compared to the previous fiscal year's 3.27 million square feet. This surge underscores the company's robust performance and growing market presence. The uptick reflects strong demand for their real estate offerings. In Q4 FY24 alone, the company recorded quarterly pre-sales of INR 743 crore, indicating a 6% YoY growth. Kolte-Patil also launched projects worth INR 3,800 crore across Pune and Bengaluru during the fiscal year.Read more

22 Apr 2024

DevX, Gujarat's leading managed office space provider, launched a new coworking space in Udaipur, Jaipur, signaling its commitment to expanding nationally and globally. Founded in 2017, DevX seamlessly combines coworking spaces with an incubator's nurturing culture, fostering innovation and strategic alliances. Its initiatives cater to diverse entrepreneurial needs, aiming for collaborative growth. Co-Founder Umesh Uttamchandani highlighted Udaipur's launch as a strategic move to tap into North India's potential. Partner Kshitiji Patel lauded DevX's role in upholding service excellence. With plans for further expansion and consolidation, DevX aims to be the preferred partner for multinational firms, GCCs, and ODCs by 2024.Read more

22 Apr 2024

The Kanodia Group has ventured into real estate with the acquisition of a prized 1.74-acre land parcel in Gurgaon, valued at INR 153 crore. Situated in Sector 46, Gurgaon, the location offers proximity to key amenities and landmarks. With a projected revenue of over INR 1,000 crore, the project is slated for completion within 48 to 60 months, blending exclusivity with contemporary living. Backed by a long-term vision, Kanodia Group eyes substantial investments exceeding INR 5,000 crore, aiming for a stronghold across multiple states while delivering innovative real estate solutions. Positioned to meet the burgeoning demand for luxury residences, the group aspires to become a leading name in the professionally managed real estate arena, promising unparalleled experiences for discerning clientele.Read more

19 Apr 2024

Godrej Properties reported its highest ever quarterly and annual booking sales in Q4 and FY24. Booking value in Q4 grew 135% to over INR 9,500 crore while FY24 bookings grew 84% to more than INR 22,500 crore. This was backed by strong demand for new project launches in NCR and Mumbai and an improved product mix. The company surpassed its booking target for FY24 and has gained market share over competitors. With continued growth planned in key markets and expansion to Hyderabad, Godrej Properties is well positioned for further sales growth under the leadership of MD Gaurav Pandey.Read more

19 Apr 2024

Piramal Enterprises has invested over INR 500 crores in various real estate projects of Puravankara Group. The strategic partnership encompasses commercial and residential developments in cities like Bengaluru, Goa, etc. Notable projects include 800,000 sq ft of commercial space in Bengaluru and 1.5 million sq ft of residential properties in Goa. Puravankara Group is a leading developer with a portfolio spanning major cities. The partnership signifies both companies' commitment to high-quality projects catering to evolving customer needs.Read more

19 Apr 2024

DevX, a managed office space provider, is set to double its footprint in the next two years, eyeing tier-2 and tier-3 cities amidst the rise of remote and hybrid work models. With centers in major cities like Mumbai and Delhi, DevX aims to cater to the demand for flexible office spaces in smaller cities like Udaipur, Raipur, and Jaipur. Additionally, international expansion into Dubai and Singapore aligns with the trend of global capability centers. Umesh Uttamchandani, DevX's co-founder, sees immense potential in India's smaller cities and aims to unlock it by providing flexible workspace solutions. With recent funding and innovative initiatives like partnering with Deakin University for an India campus in GIFT City, Gujarat, DevX is poised to meet the evolving needs of businesses and professionals beyond traditional metropolitan hubs.Read more

18 Apr 2024

Ajmera Realty & Infra India Ltd. witnessed a 3.79% rise in its shares after its Q4 FY24 results announcement, boasting sales crossing the INR 1,000 crore milestone. The firm reported remarkable growth, with sales area up by 63% to 1,12,931 sq. ft. and sales value soaring by 104% to INR 287 crores year-on-year. Collections also soared by 91% to INR 197 crores. The company credited improved connectivity via Atal Setu, Wadala, for the sales boost. Ajmera Manhattan achieved a record INR 100 crore in sales in a single month, and Ajmera Greenfinity's next phase launch was equally impactful. With six new projects added, the launch pipeline expanded to 1.3 million sq. ft. and a GDV of INR 3,130 crore in FY24.Read more

18 Apr 2024

Sobha Ltd., a real estate developer, has reported a significant uptick in sales bookings for the fiscal year 2023-24. Their sales surged by 28% year-on-year, totaling INR 6,644.1 crore (approximately USD 8.2 billion), marking their highest-ever performance across key metrics. This growth stems from both increased sales volumes, with 8% more residential space sold (6.08 million square feet), and a notable 19% rise in average selling prices to INR 10,922 per square foot. Sobha attributes this success to India's robust housing market, fuelled by factors like government spending, domestic consumption, and infrastructure development. With a diverse presence across regions like Bengaluru, Kerala, Tamil Nadu, Pune, and more, Sobha continues to cater to a broad spectrum of homebuyers nationwide.Read more