14 Aug 2023

Prestige Estates Projects, a real estate firm, has witnessed a significant 26.56% surge in its net consolidated profit for Q1 FY24, concluding on June 30, 2023. The company's post-tax profit in this quarter rose remarkably to Rs 317.80 crore, a notable climb from the Rs 251.10 crore recorded in the corresponding quarter of the preceding fiscal year. Nonetheless, the net consolidated total income experienced a marginal dip of 2.26%, settling at Rs 1,966.30 crore during Q1 FY24, in contrast to the Rs 2,011.80 crore figure reported in the equivalent period of the prior year.Read more

12 Aug 2023

The net profit for the first quarter of FY24 for Kolte-Patil Developers increased by 84.36% to Rs 47.97 crore. The company's consolidated total income has increased significantly by 183.07% to Rs 578.51 crore. The strong execution and region sales expansion are factors in the performance's success. In order to enhance its financial structure, the company also allocates debentures and adds additional companies. Kolte-Patil Developers reinforces its position as a key participant in the real estate industry with a net worth of Rs. 1,106.13 crore and careful financial management.Read more

12 Aug 2023

Peninsula Land, an Ashok Piramal Group subsidiary, reports a remarkable 383.39% surge in Q1 FY24 net profit. Profit after tax stood at Rs 61.68 crore, up from Rs 12.76 crore in the previous fiscal's corresponding quarter. Despite a dip of 40.78% in net income, the company's strategic focus on delivering apartments and plots in FY24 remains strong. Debt reduction to Rs 339 crore by June 2023 and the completion of 10.6 million square feet of real estate reflect Peninsula Land's significant achievements.Read more

12 Aug 2023

Wave City, spanning 4200 acres, emerges as North India's foremost operational Hi-tech City, skilfully merging modern technology with contemporary comforts. Positioned adjacent to the sprawling 14 lanes of National Highway- NH-24, this expansive Pre-Certified Platinum Rated Green Township epitomizes smart and sustainable living, providing an elevated residential experience. Advanced amenities, green spaces, and an array of attractions make Wave City a harmonious blend of innovation and tranquillity. With a plethora of features, Wave City stands as an epitome of modern living in synergy with nature.Read more

11 Aug 2023

Emami Realty's financial performance in Q1 FY24 has been marked by a substantial loss after a profitable year prior, prompting the company to strategically augment its board composition. The net consolidated loss after tax of Rs 14.36 crore, in contrast to the previous year's profit, underscores market complexity and competition challenges. With a 66.98 percent decline in net consolidated total income, Emami Realty's approach focuses on resilience and growth. The appointment of Amit Kiran Deb as an additional director signifies proactive adaptation and strategic planning.Read more

11 Aug 2023

The Galaxy Group, a real estate developer based in the National Capital Region (NCR), has secured a land parcel in South Delhi's Lodhi Colony through a lease agreement with the Rail Land Development Authority (RLDA). Valued at Rs 356 crore, the land spans 43,345.82 square meters and is planned for a transformative residential development. Divided into sections including Lodhi Colony and Sewa Nagar, a significant portion will be allocated for residential development. The Galaxy Group plans to invest Rs 1,000 crore in comprehensive projects that include housing for railway staff and the redevelopment of existing railway colonies.Read more

10 Aug 2023

Godrej Properties, a subsidiary of Godrej Industries Ltd., has allocated approximately Rs155 crores for repairs, maintenance, and ancillary costs following quality-related concerns raised by residents of their Gurugram project, Godrej Summit. Issues emerged when a separating slab revealed inadequate flooring in certain flats, raising structural integrity doubts. Subsequent complaints included cracks in balconies and walls, reflecting a larger safety concern post a similar incident at Chintels Paradiso. The Department of Town and Country Planning issued a show-cause notice, prompting a detailed assessment revealing high chloride content causing steel corrosion. GPDL plans to buy back concerned homeowners' units, ensuring repairs and audits before resale.Read more

10 Aug 2023

Chandak Group, has signed an agreement to redevelop a housing society in Mumbai's Andheri suburb. The project will cover a land area of 3.6 acres and has a total development potential of over 460,000 sq ft. The saleable area of the project is estimated to be over 281,000 sq ft, with a revenue potential of Rs 956 crore. The project is expected to be completed within four years. Chandak Group has already obtained a no-objection certificate from the Airports Authority of India for the construction of new buildings on the land parcel. This redevelopment project is part of the company's portfolio, which includes completed and ongoing projects across Mumbai.Read more

10 Aug 2023

MRG Group, a real estate developer based in the National Capital Region (NCR), has announced plans to launch a new affordable housing project in Sector 90, Gurgaon. The project will feature 2/3 BHK units spread over 5.26 acres, catering to homebuyers and investors seeking affordable and modern living options. The project's strategic location, emphasis on quality and sustainable construction practices, and a range of amenities are expected to make a significant contribution to the affordable housing sector in the region.Read more

10 Aug 2023

Eldeco Housing reported a 24.40% dip in Q1 FY24 consolidated profit, with Rs 7.62 crore profit after tax. The net consolidated total income was Rs 27.51 crore, down 8.51%. Chairman Pankaj Bajaj highlighted trends of consolidation and premiumization, citing land acquisition challenges and timely approvals. The board approved a corporate guarantee for an Rs 80 crore loan by Inception Buildtech, aimed at land and project development. The collection totalled Rs 25.5 crore, and bookings grew 40% to Rs 31.4 crore in Q1 FY24 compared to Rs 22.4 crore in Q1 FY23.Read more