BUSINESS
Mahindra Lifespace signs joint development pact for 37-acre Bhandup land, plans mixed-use project
The plot will have a development potential of around 3.6 million square feet, according to Mahindra Lifespace Developers
BUSINESS
No major capex for Tata Steel's Dutch unit in next 12 months, says CFO
Tata Steel's EBITDA in the Netherlands for the quarter was Rs 243 crore, against a loss of Rs 1,145 crore last year, but lower than the Rs 453 crore reported in the April-June quarter.
BUSINESS
Bengaluru market has moved beyond 'pilot' phase with strong pipeline, says Macrotech MD & CEO
In FY24, Macrotech reported pre-sales of around Rs 1,400 crore in two projects in Bengaluru, and has added two more projects in the city with a gross development value of Rs 3,800 crore.
BUSINESS
Macrotech buys out Bain Capital stake in 3 digital infra entities for Rs 307 cr
Earlier, Macrotech had also bought out real estate firm Ivanhoe Cambridge's stake in the three entities. The plan is in line with the company's strategy to increase annuity income
BUSINESS
Tata Steel back in the black in Q2 with Rs 759-crore net profit, but revenue falls on weak India ops
Tata Steel Q2 results: Revenue falls 3% to Rs 53,905 crore, as the company's India operations saw a decline in prices amid cheap exports, even as steel volumes rose marginally YoY
BUSINESS
Planning to launch one SM REIT scheme every month in 2025: PropShare CEO
SM REITs are floated as individual schemes, like asset management companies launching individual mutual funds. Each SM REIT scheme represents a separate investment opportunity, largely in commercial properties.
BUSINESS
As Navi Mumbai airport shapes up, developers make cautious inroads into region
While large developers have explored the area, they are waiting for the airport's completion and more economic activity before undertaking business development near the Navi Mumbai Airport
BUSINESS
Diwali fuels a surge in premium products’ demand across sectors
Consumers are ignoring macroeconomic headwinds to splurge on luxury items across sectors, including clothing, jewellery, automotive and high-end real estate, during this festive season, data shows.
BUSINESS
President or not, demand for Trump Towers on the rise in India
Two Trump Towers have been completed in Pune and Mumbai and two more are under construction in Gurugram and Kolkata, and at least four additional towers are in planning
BUSINESS
Diwali set to light up real estate sales; inquiries up by 15-20%: Developers
Experts said attractive interest rates on home loans and the cultural inclination to make significant investments such as buying real estate during Diwali are adding to the sales glitter.
BUSINESS
Ambuja Cements expects cement demand to grow 8-9% in October-March FY25
The first half of the year has been a near-washout for the industry in terms of demand and pricing, due to the near-three-month-long General Election, and the monsoons
BUSINESS
Expect price hikes to hold as China stimulus, infra focus takes effect: JSW Steel CEO
JSW Steel, along with others, have undertaken price hikes over the past week. During the interaction, joint MD and CEO Jayant Acharya said that steel prices had become "irrationally low"
BUSINESS
Macrotech Developers Q2 profit doubles YoY to Rs 423 crore, pre-sales rise
Lodha reported a consolidated income of around Rs 2,630 crore, higher by 50 percent YoY. The company also reported growth in its EBITDA, as well as in pre-sales
BUSINESS
Office rents breach pre-pandemic levels; Mumbai remains most expensive office market
On a pan-India basis, the overall weighted average quoted office rent stood at around Rs 101.30 a month per square foot at the end of September, higher by around 2 percent over that of 2019. Some observers cited Hyderabad as a market for concern, as nearly a quarter of the office space there remains vacant.
BUSINESS
JSW Steel Q2 results: Net profit falls 85% to Rs 404 crore as cheap import pressures hit realisations
JSW Steel Q2 results: Revenue declines 11% to Rs 39,684 cr, as import pressures hurt prices. The company also recognised an exceptional charge of Rs 342 crore in relation to the surrender of an iron ore mine in Odisha
BUSINESS
Strong home price growth seen across key markets: Godrej Properties
Gaurav Pandey, MD and CEO, Godrej Properties, told investors that price growth is expected in key NCR markets such as Gurugram and Noida.
BUSINESS
Managed office space firm IndiQube to file papers for Rs 800-crore IPO in November
The company's FY24 revenue was around Rs 840 crore, while its EBITDA and net profit were around Rs 150 crore and Rs 80 crore, respectively
BUSINESS
Aditya Birla Real Estate says Pune launch scheduled in ongoing quarter; Thane, Sarjapur launches in Q4
The Wellesley Road project has a development potential of Rs 1,050 crore, while that in the Sarjapur Road project is around Rs 2,700 crore
BUSINESS
Emaar India open to group housing projects in Mumbai, plans Rs 2,000 crore investment in region
Till date, Emaar India has set up projects in the National Capital Region, Mohali, Hyderabad, Indore, and elsewhere, part of it with its erstwhile joint venture with the MGF group.
BUSINESS
UltraTech sees no major challenges in India Cements acquisition; closer to final approvals for Kesoram assets
UltraTech Cement CFO Atul Daga said while the company has received one set of queries about the acquisition from the Competition Commission of India, the queries are regular in nature.
BUSINESS
Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid
Indian steelmakers have been under pressure due to cheaper imports from China, Vietnam, and other countries for the past year. They have been urging the government to put in place trade measures such as tariffs to cushion them from volatility in pricing mechanisms.
BUSINESS
UltraTech Cement Q2 net profit falls 36% to Rs 820 crore as sales slowdown hits prices, margins; misses expectations
UltraTech Cement Q2 FY25 Results: Net profit fell 36 percent to Rs 820 crore, missing estimates by a wide margin. Brokerages had expected a demand slowdown to weigh on earnings.
BUSINESS
May consider launching REIT in 6-12 months, data centre business growing very fast: Niranjan Hiranandani
Investors' interest is also strong in Yotta, the group's pure-play data centre arm. Revenue from Yotta is slated to equal or exceed that of the group's residential business over the next few years, according to Niranjan Hiranandani.
BUSINESS
Manipal Hospitals enters Mumbai, picks up Khubchandani Hospital for Rs 415 cr
The transaction, according to property registration documents, was registered on October 7, with Manipal Hospitals paying around Rs 27.30 crores as stamp duty charges for the deal
