23 Feb 2024

Godrej Properties Ltd (GPL), a prominent Indian real estate developer, has taken a proactive and customer friendly approach in tackling the problems concerning the Godrej Summit project in Gurugram. Following concerns over construction quality, over 100 homeowners recently opted for a buyback offer extended by the company. In addition, GPL is said to have earmarked INR 155 crore for repairs, addressing chloride-related corrosion in concrete. The company has extended repair deadlines to ensure a thorough completion by December 2024 under the guidance of IIT Delhi. GPL has vowed to prioritize resident satisfaction, engaging with residents and collaborating with experts to ensure project quality and safety.Read more

23 Feb 2024

DRA Homes, a prominent real estate developer in Chennai, unveils a strategic investment plan of INR 2000 crore for FY 2024-25, with a INR 500 crore commitment for Chennai's development. Funding will be sourced from equity, internal accruals, family offices, and structured debt. Targeting the mid-segment market, the company plans to introduce commercial developments, villas, and layout stocks. Over the next 3-4 months, projects spanning 1.2 million sq ft will be launched, projecting a turnover of INR 750 crore. Ranjeeth Rathod, MD of DRA Homes, emphasises confidence in Chennai's real estate potential amid robust commercial and residential demand, supported by accolades for excellence and innovation.Read more

22 Feb 2024

Awfis, a prominent provider of flexible workspaces in India, achieves a significant milestone, surpassing 100,000 seats across its nationwide centres. From its inception in 2015 with one centre in New Delhi, Awfis now spans 16 cities, ranking among the top 5 players in the sector as per CBRE. With a presence in over 150 centres across Tier-I and Tier-II cities, Awfis holds the largest share in Tier-II cities among top operators. Serving diverse industries, including IT and finance, notable clients include Lenovo and Capgemini. Awfis' journey continues to redefine office dynamics, empowering businesses in an evolving work landscape.Read more

22 Feb 2024

Kolte-Patil Developers had revealed a INR 9,000 crore project launch plan over 14 months, bolstering its presence in Pune, Mumbai, and Bengaluru. Pune's growth, driven by infrastructure and economic activities, will witness unveiling of projects worth INR 6,400 crore. Strategic micro-market positioning includes Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road. The company intends of investment INR 2,500 crore by FY25 in Mumbai. The company is aiming for a sales target of INR 3,500 crore in FY25 and INR 4,500 crore in FY26, backed by partnerships like Marubeni Corporation. With 26 million sq. ft developed and ongoing projects spanning 33.5 million sq. ft, Kolte-Patil eyes a Gross Development Value of INR 25,000 crore, emphasizing technology-driven growth across key markets.Read more

21 Feb 2024

Pushpam Group, renowned for its upscale resort homes, has unveiled 14 exquisite Bali-themed studio suites at Balibaug in Alibaug. Priced at INR 59 lakh and above, these meticulously crafted suites offer residents a tropical retreat with panoramic views from their verandas. Dr. Sachin Chopda, Managing Director of Pushpam Group, emphasised the suites' addition to their luxury villa offerings, highlighting the project's appeal for investors seeking monthly rental income. Balibaug, situated along Alibaug's scenic coastline, promises a serene escape reminiscent of 'Mini Goa', just a short drive from Mumbai and the forthcoming Navi Mumbai International Airport.Read more

21 Feb 2024

County Group plans to invest INR 5,000 crore over five years in Ivory County, an ultra-luxury housing project in Noida's Sector 115. With 2,372 units spread across 28 acres, the project includes 'Ivory County' and 'Ivory County Gold' segments. Phase one's 1,500 units are already sold out. Offering 3, 4, and 5-BHK apartments ranging from 2,034 to 6,939 sq ft, prices start at INR 14,000 per sqft for Ivory County and INR 16,000 per sqft for Ivory County Gold. With a revenue potential of INR 7,500 crore, the project targets buyers from within County Group's existing projects for a lifestyle upgrade.Read more

20 Feb 2024

Squarefeet Group launched India's first Millennial Housing Project in Thane, strategically situated opposite the expansive Grand Central Park. The project, unveiled by Maharashtra Chief Minister Eknath Shinde, is a pioneering venture aimed at redefining urban living for millennials. The Grand Central Park, spanning 20.5 acres, offers a diverse range of cultural themes and lush landscapes. The housing project promises a five-star hotel-like living experience with tailored amenities including culinary delights, housekeeping, and automated laundry services. Innovative features such as dedicated health experts and hybrid gyms ensure holistic well-being.Read more

20 Feb 2024

Ashiana Housing, based in Delhi, reported a robust Q3 FY23-24, with a net profit of INR 27.80 crore, surging 207.18% year-on-year. Total income rose to INR 189.25 crore, a significant 39.86% increase. The company's success lies in tailored residential developments across key cities like Gurugram and Jaipur, catering to evolving buyer needs. Additionally, its focus on the senior living segment has strategically positioned it amidst rising demand. With a debt-equity ratio of 0.18 and current liability ratio of 0.88, Ashiana is well-equipped for sustained growth, driven by customer-centric strategies and a commitment to excellence.Read more

19 Feb 2024

Casagrand, a leading real estate developer in South India, has launched Casagrand Medora, a premium residential project in Chennai's Korattur area, offering 155 luxurious apartments with 40+ amenities. Strategically located near Anna Nagar, the project stands out with an attractive price of INR 6999 per sq.ft., providing a holistic living experience in the heart of the city. Casagrand Medora emphasizes convenience, elegance, and functionality, featuring architectural finesse, world-class amenities, and meticulously crafted residences, demonstrating the developer's commitment to upscale urban living in Chennai.Read more

19 Feb 2024

Sobha Limited's Q3-FY24 financial results demonstrate strong sales and operational growth, with record-breaking collection, realization, and sales values. Quarterly sales hit INR 19.52 billion, up 37.0% YoY and 13.2% from Q2-FY24, driven by Bengaluru's highest-ever quarterly sales of 1.25 million sq ft., valued at INR 14.99 billion. Two new projects totaling 3.84 million sq ft. were launched, contributing to the highest-ever quarterly real estate collection of INR 12.93 billion, up 11.8% YoY. With positive cash flow, net debt/equity ratio reduced to 0.54. 9-month FY24 revenue rose to INR 24.26 billion, and Q3-FY24 profits reached INR 153 million, reflecting growth strategies focused on new launches and effective execution.Read more