15 May 2024

Home First Finance Company India Ltd reported a robust performance for the March quarter, with net profit surging 30.5% to INR 83.5 crore and quarterly interest income rising 38% to INR 283 crore. Assets under management grew by 35% to INR 9698 crore, with loan disbursement up 32% to INR 3963 crore. The company aims to expand its portfolio by 30% in FY 2025, with plans to open 20-25 branches. They recommended a 170% dividend and approved raising INR 700 crore through debentures.Read more

14 May 2024

Grihum Housing Finance reported a 21% rise in net profit to INR 140 crore for FY24, driven by a 32% increase in assets under management to INR 8,277 crore. Organic disbursements reached a record INR 2,914 crore, up 26% year-over-year. The company expanded sourcing channels and added 28 new branches, taking the total to 210. Revenue grew 46% to INR 1,046 crore with net interest margin of 8.3% and cost of borrowings at 8.1%. MD and CEO Manish Jaiswal credited the results to Grihum achieving a 30% CAGR and establishing itself as a national housing finance company serving over 77,000 customers.Read more

14 May 2024

In FY2025, India's construction industry anticipates robust growth, following a stellar FY2024. With the government's commitment to infrastructure evident in increased capital expenditure, ICRA maintains a stable outlook, projecting moderate margin expansion despite competition challenges. While profitability may remain below pre-Covid levels due to the expiration of certain schemes, the moderation in commodity prices, notably steel, offers relief. Stakeholders must navigate challenges with vigilance, leveraging opportunities as they arise. Monitoring market dynamics and policy shifts will be crucial for success in the upcoming fiscal year.Read more

14 May 2024

The Securities and Exchange Board of India (SEBI) has proposed lowering the minimum trading lot size for privately placed infrastructure investment trusts (InvITs) from the current INR 1-2 crore to INR 25 lakh. This aims to increase liquidity in the secondary market for InvIT units by allowing more individual and retail investors to participate. A smaller lot size would help diversify investment portfolios and better manage risks. In addition, SEBI has put forth several measures to reduce compliance burden for InvITs and real estate investment trusts (REITs), including setting a timeline of 5 days for profit distributions and giving flexibility to set record dates with 2 days' notice to exchanges.Read more

13 May 2024

HDFC Capital, the real estate private equity arm of HDFC Group, has exited the "Pursuit of a Radical Rhapsody" project in Bengaluru, generating a remarkable return of close to INR 300 crore, surpassing their initial investment of INR 229 crore. Developed by Total Environment, the project comprises 4.4 million square feet of residential space and 500,000 square feet of commercial development. This successful exit underscores HDFC Capital's strategic investment approach and ability to create value. Partnering with esteemed developers like Total Environment, known for quality, reflects HDFC Capital's commitment to promoting affordable and mid-income housing in India. This achievement highlights the potential for strong returns in Bengaluru's real estate market and HDFC Capital's pivotal role in shaping India's housing landscape.Read more

13 May 2024

Aptus Value Housing Finance saw continued growth in FY24 with a 22% rise in PAT to INR 612 crore. Total disbursements for the housing financier jumped 31% to INR 3,127 crore for the full year, reflecting robust demand for housing loans. In Q4FY24 alone, disbursements grew 45% to INR 968 crore. Aptus expanded its reach through the addition of 31 new branches, taking its total network to 262 branches across seven states. Commenting on the results, MD P Balaji expressed satisfaction with the company's performance and stated that significant accomplishments were made during the fiscal.Read more

13 May 2024

Data from the Reserve Bank of India shows that scheduled commercial banks' commercial real estate portfolios grew nearly 23% year-on-year in March 2024, significantly higher than the 8.52% growth seen the previous year. This surge in commercial real estate lending by banks reflects positive changes in the sector in recent years, including regulatory reforms, growth of real estate investment trusts, and developers taking on less debt, which have boosted banks' confidence. Industry experts expect banks' commercial real estate lending to continue growing strongly due to healthy demand, a clearer regulatory framework, and avenues like REITs mitigating risks.Read more

13 May 2024

US private equity giant Blackstone is reportedly in advanced negotiations to acquire Inspire BKC, an 800,000 sqft office project in Mumbai developed by Adani Realty. As per reports, Blackstone may invest Rs 1,800-2,000 crore for the acquisition. Located in the Bandra Kurla Complex business district, Inspire BKC currently has tenants like Novartis, Reliance Nippon Life Insurance and MUFG Bank. Co-working operator Bhive recently leased over 62,000 sq ft in the building. Adani has been looking to sell the asset and previous discussions were held with Brookfield and Shapoorji Pallonji. Talks with Blackstone were halted in 2020 due to the pandemic but have now revived with strong demand and occupancy levels.Read more

10 May 2024

The Indian real estate sector is experiencing an influx of foreign investment, notably in stressed assets. Nisus Finance, based in Mumbai, has launched the Nisus India Opportunity Fund in Mauritius, targeting distressed real estate projects. This initiative aims to attract foreign capital to revitalize stalled developments. Building on the success of their Singapore-based fund, Nisus Finance's new venture signals growing international interest in India's real estate market. By addressing stressed assets, the fund not only offers potential for high returns but also contributes to project revival, job creation, and overall market growth. This move reflects increased investor confidence in India's real estate sector and boosts liquidity while addressing critical market needs.Read more

10 May 2024

The real estate scene in Mumbai is witnessing a transformation, as luxury condos with contemporary amenities take centre stage. This shift is particularly evident in prime areas such as Carmichael Road and Walkeshwar Road, where soaring prices underscore the city's appetite for upscale living. As Mumbaiites increasingly seek modern comforts and convenience, developers are responding by crafting high-end residential offerings that cater to these evolving preferences. This trend signals a broader shift towards a more luxurious and sophisticated urban lifestyle in the bustling metropolis.Read more