Apartment prices at Planet Godrej, a premium residential property developed by Godrej Properties in the tony Mahalaxmi area of Mumbai, had come down to as low as Rs 17,000 to Rs 18,000 a sq ft in the property market slowdown last year.
With Pirojsha Godrej at the helm, Godrej Properties posted a fourfold jump in profit in the third quarter of the current financial year, probably the only real estate company that did so well in that quarter.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
The real estate sector might have been caught off guard by the second wave of the Covid-19 pandemic, but large listed developers like Godrej Properties and Prestige Estates Projects soldier on undeterred. They aim to have sales bookings of Rs 10,000 crore in the next few years.
At the heart of the disagreement is a 1,000-acre land parcel, part of the 3,400 acres owned by the family in Vikhroli, a northeastern suburb of Mumbai.
Mumbai Metropolitan Region recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai.
'What exists instead is a clear gap between skilled people and the work at hand.' 'Employers on most occasions find it difficult to find a match between the two,' Adi Godrej tells Viveat Susan Pinto and Niraj Bhatt.
The $2.25-billion Godrej Group is considering leasing its flagship name to group companies for a royalty fee, a model similar to the one adopted by Tata Group, India's largest conglomerate.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Politics is his first love, but it is downright business that he is trying to learn, at the Godrej group. Some three weeks ago, Pirojsha Godrej, Adi and Parmeshwar Godrej's 23-year-old son, joined the family business as a management trainee.
Burjis Godrej, 25, son of Nadir Godrej will join Godrej Agrovet in July
'Kindly advise about the following stocks. Can I hold or exit?'
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Shift to new business model to help companies cut capital cost, increase margins.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
The 'Diwali Home Buying Fest' would be organised from Nov 3-9.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
Most of the 30-Sensex constituents led by M&M, Adani Ports, BhartiAirtel, Bajaj Auto, Hero MotoCorp, ICICI Bank, Sun Pharma, Cipla, HDFC Ltd, ONGC and Hind Unilever were trading in negative terrain, falling by up to 5.77 per cent.
Mahindra and SCM Real Estate, the investment arm of Standard Chartered, would together invest Rs 1,000 crore (Rs 10 billion) in multiple projects and hold equal stakes in the JV to be called Watsonia Developers.
Listed realty developers saddled with unsold properties worth Rs 1 trillion
Adi Godrej, 75, will become chairman emeritus after leading the company for 17 years as Nisaba, currently executive director of the company, assumes the new role of executive chairperson at Godrej Consumer Products on May 10, 2017.
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
A strong supporter of the new tax regime, Adi Godrej tells Viveat Susan Pinto the second half of FY18 will be even better for consumer goods companies as challenges abate.
The BSE Midcap also cut all its intraday gains to shed 0.3% at close
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
This is the latest in a series of large office space buyouts by RMZ Corp which has created a portfolio of rent-yielding commercial assets in India.
GIC entered Indian real estate in 2005, when it did a deal with residential developer XS Real, a Chennai-based developer
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of 'innovative' housing financing schemes.
The breadth, indicating the overall health of the market, turned negative from positive
Puneet Wadhwa and Debashish Pachal locate real estate stocks to watch out for.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Bigger companies are signing equity JVs with global investors.
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
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