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.
BUSINESS
Adar Poonawalla-led entity buys office space in Pune for Rs 395 crore
The deal happened through four transactions, registered on September 11, according to the documents. A total of Rs 27.65 crore was paid as stamp duty for the transaction.
BUSINESS
Acquisition of India Cements to save a 'failing firm': UltraTech Cement tells CCI
The Aditya Birla Group-owned cement maker told the CCI that the proposed deal won't have any adverse impact on competition.
BUSINESS
Pune property registrations in August 2024 mostly flat even as stamp duty collections jump
Data showed that 13,397 registrations were inked in August 2024, compared to 13,021 in the corresponding month in 2023, and 13,731 registrations in July 2024.
BUSINESS
US Fed rate cut to spur more Indian corporates to tap offshore bond markets
Fed chairman Jerome Powell delivered the large 50 bps rate cut, driven by the increased confidence that the US' long battle with inflation had come to an end.
BUSINESS
Malls to grow slower than residential real estate, industry players say
Footfall in malls reduced during the April-June quarter on a sequential basis, as consumer sentiment was affected due to the elections and heat, and anchor tenants such as multiplexes performed poorly. Industry players have identified indoor entertainment venues, along with food and beverage, as a way to attract more footfall.
BUSINESS
MHADA Mumbai housing lottery applications cross 90,000 ahead of Thursday deadline
According to MHADA officials, the authority has received 94,733 applications as till the end of September 16, of which 70,562 paid the earnest money deposit. Officials added that they expect more than one lakh applications by the end of the application process.
BUSINESS
Footfall in major shopping malls dip by up to 10% in April-June quarter, survey finds
The dip in average daily footfall in shopping malls was due to extreme heat, a lack of major film releases, weeks-long parliamentary elections, according to a report by GeoIQ. Of the 30 malls surveyed, only 10 reported an uptick, data shows.
