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
BUSINESS
DLF to launch ultra-luxury Dahlias project in Gurugram, touted to be the most expensive in India
The Dahlias project has a revenue potential of around Rs 34,000 crore, with the average ticket size of an apartment expected to be around Rs 100 crore, according to PropEquity.
BUSINESS
Results preview I Cement makers stare at a grim Q2 amid near-decade-low prices and weak demand
Nearly all brokerage houses are cautious on the cement sector, as price growth has almost stalled and demand is yet to recover from the impact of the General Elections, delayed allocations to major infrastructure projects, and heavy monsoon rains, especially in August.
BUSINESS
Konkan unit of Maharashtra affordable housing board plans lottery for up to 12,000 homes
Up to 12,000 homes are slated to be allocated to applicants in the lottery for the Konkan board, according to MHADA. The Konkan board includes cities such as Thane, Kalyan and Virar that are close to Mumbai and are key real estate markets
BUSINESS
Deal Drought: Discounts, incentives absent as the festive season sees strong real estate sales
Earlier, during the festive season, developers often offered upfront discounts to the listed price of the home being sold.
BUSINESS
Housing sales in NCR decline amid lack of inventory, surge in home prices
After affordable housing, now the mid-segment has shown a continued downward slide in terms of sales
BUSINESS
Mumbai property registrations down 16% YoY in September amid 'shradh' and higher home prices
As per figures at 5:30 pm today, a total of 9,005 properties were registered in Mumbai in September 2024 as against 10,694 units in September 2023
BUSINESS
Home sales down 11% in July-September; observers cite higher prices, monsoons as reasons
Sales across seven cities stood at around 1.07 lakh units for July-September (till date) as against 1.2 lakh in the same quarter last year. The sales represent an 11 percent decline over the same quarter last year, as well as sequentially, according to Anarock
BUSINESS
Explained: Why developers want GST relief on Joint Development Agreements and input credits
Developers highlighted the contradiction between the government's goal of "housing for all" and the current tax regime which could increase their costs and that os the projects.
BUSINESS
REPL gets SEBI approval for small and medium REIT, to be named ImpactR SM REIT
The new SM REIT will have REPL as its investment manager. SEBI had earlier approved the SM REIT application submitted by fractional ownership platform Property Share, licensed under the name Property Share Investment Trust
BUSINESS
Pursuing Mumbai projects independently, focusing on Pune as a market too, says Sattva Group
In Mumbai, the group has closed its first deal in the premium-luxury residential segment in Sewri, which is to be launched in the next three-to-four quarter pending approvals
BUSINESS
Initial Ayodhya buzz has moderated but still optimistic on sales, says House of Abhinandan Lodha
The number of inbound visitors is holding steady but some airlines have reduced flights to the temple town due to lower-than-expected demand, and the appetite for real estate investment may have also reduced in the city and its surroundings.
BUSINESS
In Mumbai’s transformation journey, slum rehabilitation is being left behind
The Slum Rehabilitation Authority (SRA) lists roughly 1,700 ongoing rehabilitation projects, with over 500 believed to be stuck at various stages of development, as per industry estimates.
