Global coworking player WeWork has filed for bankruptcy in the US and has also started a comprehensive reorganisation and restructuring process to cut debt and strengthen its balance sheet. NYSE-listed WeWork Inc said that its centres located outside the US and Canada will not be part of this proceedings. Softbank-backed WeWork Inc, which was once valued at $47 billion, had reported a net loss of $696 million in the first half of this year.
Led by the weak trend in the broader market, the market capitalisation of BSE-listed companies plunged Rs 1,65,437.91 crore to Rs 1,38,54,439.41 crore.
He is the man behind Blackstone's India strategy
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
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The existing shareholders will get one RPL share for each RCom share (of Rs 130 market price) held.
Mumbai's Bandra Kurla Complex (BKC), which houses the offices of some of the biggest banks in the country, however, slipped to 26th position from the 16th position.
Indian property markets are not in the pink of health.
The global funds are gung-ho about the prospects of India's real estate sector and have committed billions of dollars, but the Indian mutual funds are treading cautiously.
Mumbai developers are battling high inventory.
In India, real estate has remained largely outside the purview of formal economic activity.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
Ascendas, which manages property trusts in Asia, said it will set up the $324 million Ascendas India Development Trust to invest in Indian real estate projects.
Standalone theatres in the city succumb to multiplex pressure.
The other trend is towards the big and bigger, especially in the retail sector. Take The Great India Place in Noida, Unitech's 15 lakh sq ft "shoppertainment" destination which opened earlier this year.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
Work-related stress can impact one's mental health. Which is why Saurabh Tiwari says he's fortunate that his company understands this and is doing whatever it can to help mitigate that stress. "My company provides opportunities according to my interest, and if anyone is feeling stressed or has additional workload, they can talk with their supervisor to resolve it," says the 31-year-old who's working from home for a Bengaluru-based IT firm. Not everyone's as lucky.
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
REITs, a new investment avenue in India on the lines of one in developed markets like the US, UK, Japan.
Carnival group buys project in Chandigarh from L&T for Rs 1,785 cr.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
Mumbai is also on the top-10 'improvers' list.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
Liquor sales will obviously be hit. So, will real estate prices at what used to be prime locations, close to major thoroughfares. Food and snack sales close to highways will also, in all probability, be affected.
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
The council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent.
RICS, the UK-based self-regulatory body for qualification and standards in land, property and construction, said the upward revision in repo rate in October by RBI is likely to increase pressure on real estate developers.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Rs 15,000-cr investment planned to protect vendors from rising realty prices
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