07 Jun 2024

Prestige Estates, an Indian real estate developer, aims for a 25-30% increase in pre-sales, building on a record INR 72,104 crore in FY24. With a strong launch pipeline of 59.2 million square feet and a potential gross development value of INR 75,910 crore, the company is optimistic despite challenges like project approval delays and competition in new markets such as Mumbai and Delhi. Expansion into NCR and diversification into offices, retail spaces, and hospitality are key strategies. However, significant investments and rising debt levels, with a net debt of INR 77,790 crore and a net debt-to-equity ratio of 0.66, pose financial challenges.Read more

06 Jun 2024

Indiabulls Real Estate has made a series of strategic acquisitions, expanding its residential development portfolio in Bengaluru and Chennai. The company acquired the rights to three major projects from Embassy Property Developments - Embassy Residency in Chennai, Embassy Eden in North Bengaluru, and Embassy East Avenue in Whitefield, Bengaluru. These acquisitions, totaling over 1.6 million square feet of saleable area, strengthen Indiabulls' presence in key real estate markets. Alongside these developments, the company also completed the acquisition of Equinox Developments. In a separate announcement, Indiabulls Housing Finance reported a 21% rise in consolidated net profit for the March quarter, reflecting its robust financial performance. The company's improving asset quality, with declining gross and net non-performing assets, further underscores its operational efficiency.Read more

06 Jun 2024

Top real estate developers in India are shifting focus to super-luxury homes priced at INR 10 crore and above, following the success of homes in the INR 2-4 crore range. These exclusive residences boast larger living spaces, five to six bedrooms, and premium amenities, strategically located in prime areas of cities like Gurugram, Mumbai, Goa, and Hyderabad. Renowned developers such as DLF Ltd, Prestige Group, and K Raheja Corp Homes are leading the charge, catering to the elite's demand for opulent living. With strong demand driving sales, developers are poised to launch even higher-priced projects, reaffirming India's status as a destination for ultra-luxury real estate.Read more

06 Jun 2024

Columbia Pacific Communities (CPC) and KITES Senior Care are joining forces in a INR 250 crore merger to create India's first and largest Continuing Care Retirement Community (CCRC). CPC will invest INR 65 crore for a 25% stake in KITES. The merger will fuel expansion plans, with KITES developing over 1,000 beds across six South Indian cities and CPC adding 1,200 residential units, aiming for 10,000 senior living units and 2,000 geriatric care beds within five years. This initiative addresses the growing demand for senior care, driven by rising life expectancy and nuclear families, and targets the Indian senior living market, projected to reach USD 12 billion by 2030.Read more

06 Jun 2024

Bengaluru-based builder Trifecta Projects unveils Trifecta Vanto, blending luxury living with eco-friendly design on Sarjapur Road, East Bengaluru. Spread over 9 acres, the project offers 825 spacious apartments, ranging from 710 to 1,340 sq. ft., with prices starting at INR 68.5 lakh. The 50,000 sq. ft Platinum Oasis Clubhouse features extensive amenities, including a semi-Olympic-size swimming pool, virtual golf course, and eco-friendly workout options. With 85% open space, solar lighting, rainwater harvesting, and EV charging, Trifecta Vanto emphasizes sustainability. Completion is expected by August 2027, ensuring a luxurious and green lifestyle.Read more

05 Jun 2024

Truliv, Tamil Nadu's largest co-living startup and a subsidiary of DRA Homes, achieved 250% revenue growth in FY 2023-2024, reaching INR 16 crore. The company aims to add 3,500 more beds in FY 2024-2025 to maintain its market leadership. Truliv's success is driven by its build-to-suit designs, premium amenities, and technology-driven processes. Operating at full capacity, its 22 properties and 7 holiday homes cater to millennials and young professionals. With a 95% occupancy rate and strategic expansion plans in western and southern markets, Truliv targets a INR 50 crore topline in FY 2024-2025. The startup secured USD 1.5 million in pre-seed funding in June 2023.Read more

05 Jun 2024

Bengaluru-based Century Real Estate plans to bring a substantial portion of its land holdings to market, aiming to generate INR 2,100 crore in sales during FY 2024-25. This move follows a successful year with a 121% growth in residential sales bookings. Managing Director Ravindra Pai highlighted that they are nearing completion on key projects, enabling them to focus on new developments in Bengaluru. The company boasts a 96% sell-out rate for residential inventory since FY24 began, reflecting strong demand. Century Real Estate's plan will introduce over INR 7,200 crore worth of new inventory this year, indicating confidence in Bengaluru's real estate sector.Read more

05 Jun 2024

Sattva Group introduces Sattva Green Groves, a 45-acre development in Nelamangala, Bengaluru, featuring 750 villa plots. This project emphasizes open spaces and community living, with landscaped gardens and dedicated zones for all ages. The central clubhouse includes amenities like a swimming pool, gym, multipurpose hall, and library. Strategically located, Green Groves offers easy access to the airport and city via Nelamangala Road and the upcoming STRR project. Catering to the trend of plotted developments, Sattva Green Groves balances modern living with natural beauty, making it an attractive investment for discerning homeowners.Read more

04 Jun 2024

L&T Realty has partnered with Jagdale Infrastructure to develop a 12.2-acre slum rehabilitation project in Thane's Panchpakhadi area, with L&T Realty leading the project and earning 69% of the profits. The development, which involves over 20 slum pockets and has a potential of 3.12 million square feet, is expected to be completed in five years. L&T Realty will manage the design, construction, and sale of the free-sale component, while also overseeing the rehabilitation process for slum dwellers.Read more

04 Jun 2024

Delhi-NCR-based M3M Group has launched its uber-luxury housing project, M3M Altitude, on Golf Course Road Extension in Gurugram, targeting a revenue of INR 4,000 crore. Situated near Trump Towers within the 60-acre M3M Golf Estate, the project spans 4 acres and includes 350 super-luxury residences priced between INR 10 crore and INR 30 crore. The total saleable area is 1 million sq ft, with development costs at INR 1,200 crore. Completion is expected by 2031. Residences will feature 4 BHK units with servant rooms and penthouses ranging from 3,780 to 8,000 sqft. Golf Course Extension Road is noted for its significant price appreciation and luxury market demand.Read more