05 Jun 2025

Godrej Properties Ltd has expanded its presence in Pune by acquiring a 14-acre land parcel in the Kharadi-Wagholi region for a premium residential project. This development is expected to generate INR 4,200 crore in revenue and will offer around 3.7 million square feet of developable area. According to the company's regulatory filing earlier this week, the project will focus on upscale group housing. The move aligns with Godrej Properties' broader strategy to grow its footprint across key micro-markets, with recent forays into new cities including Hyderabad.Read more

05 Jun 2025

Prestige Estates Projects Ltd plans to launch 25 residential projects across Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, and Goa this fiscal, covering 44.80 million sq. ft. with a projected gross development value (GDV) of INR 42,120 crore. The expansion follows a subdued FY25, when regulatory delays limited launches to 26.28 million sq. ft. (GDV: INR 26,222.8 crore). Pre-sales dropped 19% YoY to INR 17,023.1 crore, with sales volume down 38% to 12.58 million sq. ft. Despite the decline, Prestige reported strong pricing gains-apartment, villa, and commercial realisation rose 36% to INR 14,113 per sq. ft., while plot sales surged 50%. Net profit fell to INR 467.5 crore from INR 1,374.1 crore. With a robust launch pipeline and improved pricing trends, Prestige aims to regain growth momentum and reinforce its position in India's premium real estate market.Read more

04 Jun 2025

ICRA has upgraded Macrotech Developers Limited's (MDL) long-term credit rating to "[ICRA] AA (Stable)' from "[ICRA] AA- (Positive)' and reaffirmed its short-term rating at '[ICRA] A1+.' The upgrade reflects MDL's rising operational cash flows and improved leverage, with total debt reduced to INR 7,088 crore as of March 2025, down 8% year-on-year. The gross debt-to-CFO ratio improved to 1.09x from 1.49x. MDL's diversified portfolio-spanning residential, office, retail, and warehousing-supports stable cash flows, with warehousing and retail segments poised for stronger growth. The developer leads Mumbai and Thane's residential markets, having delivered over 100 million sq. ft. by March 2025, and holds a 4,080-acre land bank. Its robust 85 million sq. ft. project pipeline and strong liquidity buffer further enhance its credit profile. The rating upgrade highlights MDL's financial strength, diversification strategy, and resilience amid market risks.Read more

04 Jun 2025

Apple India has leased an 8,000 sq. ft. retail space at the upcoming Phoenix Mall of Asia in North Bengaluru, with an annual rental of INR 2.09 crore over a 10-year term. The deal includes a 15% rent escalation every three years and a revenue-sharing clause starting at 2%, rising to 3%. The Hebbal-based mall, developed by Phoenix Mills Ltd and Canada Pension Plan Investment Board, offers Apple a prime retail platform in Bengaluru, complementing its recent store launches in Mumbai and Delhi. The move aligns with Apple's strategy to deepen its direct presence in India, as Foxconn nears completion of a major iPhone manufacturing facility at Devanahalli, set to produce 20 million units annually. Together, these developments highlight Apple's integrated retail-manufacturing approach in India, supporting the government's PLI-driven electronics manufacturing ecosystem and tapping into the country's fast-growing smartphone market.Read more

04 Jun 2025

County Group, a prominent real estate developer in the National Capital Region, has acquired a 13.3-acre land parcel in Wave City, Ghaziabad, for approximately INR 400 crore. This strategic investment aims to develop 1,000 residential units across four apartment configurations, totaling 3 million square feet. The Wave City project, spanning over 4,200 acres along NH-24, has witnessed increased demand, with property prices appreciating by nearly 30% in the past year. The region's connectivity and infrastructure developments, including the operational Hindon Airport and the upcoming Jewar International Airport, further enhance its appeal to investors and homebuyers.Read more

04 Jun 2025

Aparna Constructions and Estates has launched a new luxury housing project, Aparna Moonstone, with an investment of over INR 2,525 crore. Located within the integrated Aparna Deccan Town in Hyderabad's Gopanpally-Gachibowli corridor, the project will feature 2,088 residential units across 22.28 acres. The move aligns with rising demand for luxury living as Hyderabad cements its status as a global innovation hub. Managing Director S S Reddy noted that Aparna's legacy of quality positions it to lead this market shift. Founded in 1996, Aparna Constructions has grown into a INR 4,500 crore realty firm with 83 projects spanning residential, commercial, and retail segments across Telangana, Andhra Pradesh, and Karnataka. Aparna Moonstone further strengthens the company's footprint in South India's evolving luxury real estate market, reflecting emerging urban trends and consumer aspirations.Read more

03 Jun 2025

AU Small Finance Bank has acquired an 11-storey office building in Bandra (East), Mumbai, for INR 371 crore from Earthworth Constructions, with an additional INR 22.26 crore paid in stamp duty. The 74,577 sq. ft. property, featuring two basements and 98 parking spaces, will serve as the bank's new corporate headquarters. This is the largest outright office space purchase by a financial institution in 2025. The acquisition follows AU's merger with Fincare Small Finance Bank, expanding its network to over 2,350 touchpoints across 25 states, serving more than 10 million customers. The bank has also applied to transition into a universal bank. The move reflects AU's strategy to consolidate operations and strengthen its Mumbai presence, signalling a trend among financial institutions towards owning prime commercial real estate. The property's location along the Western Express Highway offers key connectivity advantages.Read more

03 Jun 2025

Prestige Estates Projects Ltd reported an 82% YoY drop in consolidated net profit to INR 25 crore in Q4 FY25, down from INR 140 crore. Total income also fell to INR 1,589.3 crore from INR 2,232.5 crore. For FY25, net profit declined to INR 467.5 crore (from INR 1,374.1 crore), with total income dropping to INR 7,735.5 crore. Amidst this downturn, the Bengaluru-based developer announced a strategic joint venture with Valor Group to co-develop a 1.5 million sq. ft. premium commercial office project in Andheri West, Mumbai, with an estimated Gross Development Value (GDV) of INR 4,500 crore. Both companies will hold equal 50% stakes, with Prestige investing INR 504 crore via an SPV. The project aims to strengthen Prestige's presence in Mumbai's thriving commercial real estate market and drive future growth.Read more

03 Jun 2025

The NCW Prime Offices Fund, a joint venture by Nuvama Asset Management and Cushman & Wakefield, has acquired Prius Platinum, a premium Grade A office building in South Delhi's Saket District Center. The 0.3 million sq. ft. property was purchased from a Kotak Alternate Asset Managers-led consortium, which had acquired it in 2021 via the Insolvency and Bankruptcy Code (IBC) process for INR 450 crore. The building has since undergone significant upgrades, including ESG-focused enhancements, achieving a 95% occupancy rate with a five-year WALE and strong lock-in periods. The NCW Prime Offices Fund recently raised INR 1,700 crore and targets a corpus of INR 3,000 crore. Its investment focus is on developing Grade A+ 'Offices of the Future' across India's top commercial hubs-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad-aligned with evolving corporate workspace trends and sustainable development practices.Read more

03 Jun 2025

Mumbai-based Kanakia Group has entered into a strategic joint venture with US-headquartered Hines and Japanese conglomerates Mitsubishi Estate and Sumitomo Corporation to develop a premium 1.5 million sq ft office complex at Bandra Kurla Complex (BKC), Mumbai. This collaboration will see Kanakia provide the land parcel, while Hines, MEC, and Sumitomo step in as institutional investors and development partners. The project, spread over 3 acres, is set to feature not only office spaces but also F&B and retail elements. This marks a major milestone in Hines' expansion in India and strengthens its long-term strategic presence in Mumbai.Read more