The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
DLF has wind power plants in four states with total installed capacity of 227 MW.
The National-Capital based realty major will also launch 9-10 million sq ft of real estate projects during the second half of the current financial year.
In Mumbai, developers like the R K Jatia and Lodha groups have launched or reopened ultra luxury residential projects, complete with limousine and concierge services.
DLF had bought 17.5 acres of land in 2005 from the National Textile Mills for about Rs 700 crore (Rs 7 billion).
Lodha Developers plans to build the world's tallest residential tower at a cost of Rs 2,000 crore (Rs 20 billion) in central Mumbai.
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
India's greatest ever Olympian Sushil Kumar strongly feels that panels similar to one headed by Justice RM Lodha to clean up the Board of Control for Cricket in India mess, is required to bring in more accountability and transparency in functioning of National Sports Federations (NSF).
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
The committee will hold regular meetings with district officials and collect information of registered and unregistered inter-faith and intercaste marriages; on such marriage that took place in places of worship and marriages took place after elopement.
Two ministers who raised the banner of revolt with former deputy chief minister Sachin Pilot during the political crisis also find their names in the list.
'While taking the decision regarding cricket, the Supreme Court has said that the officials should not be above 70 years of age and they have described these positions as "lucrative" which made me very sad and that's why I don't have any wish to work any more'
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
In a move expected to further delay the implementation of Lodha panel reforms, the Board of Control for Cricket in India on Monday decided to form a committee for analysing how 'best and quickly' the principal Supreme Court order can be executed.
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
To energise a dull real estate market, Mumbai developers are lining up prelaunches of residential apartments. This is a popular way to raise funds before construction begins.
'After Covid, people started looking for bigger houses with pools and landscaped gardens.' 'Even middle class buyers are looking at plots of land in smaller towns.'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Five days after the induction of 18 ministers into his cabinet, Maharashtra Chief Minister Eknath Shinde on Sunday allocated portfolios, keeping Urban Development and 11 other ministries with himself, while giving the crucial Home Department to Deputy CM Devendra Fadnavis.
Oberoi Realty has hit the top slot in Mumbai's ranking of the top-20 developers in terms of sales in 2021, evicting the Runwal group which was number one last year. The Lodha group which had occupied the top slot three out of five times since 2017 slipped to second place in 2020 and continues to be in the same position in 2021. The Oberoi group was in fifth place in 2019 and fourth place in 2020. This is the first time that it has occupied the number one position. The Runwal group which took the top slot in 2020 is down to third place in 2021.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
The political drama in Rajasthan over leadership change continued on Monday with MLAs loyal to Chief Minister Ashok Gehlot remaining non-committal on holding a meeting with Congress observers, who are likely to return to Delhi to apprise the high command about the developments.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Khakee: The Bihar Chapter: The picture is as ugly as it is grim, observes Deepa Gahlot.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
Sharma said 2,500 tankers that supply potable and non-potable water across Mumbai have been on strike since February 8 and it's a do-or-die situation for them.
'All of us tend to believe that they are so well paid, why should we bother about their payments.' 'But who all are well paid? Only a handful, maybe 3-4 of them, who go in for endorsements and things.' 'The others are struggling, playing Ranji Trophy and other matches, so that compensation we made it market-oriented.'
Some of them have also endorsed Sachin Pilot as chief minister. However, they added that whatever decision the party high command takes in this regard, they will accept it.
"Don't forget that there is an ICC chairman's nomination to be filed on October 20. Whether the powerful people in the BCCI have a change of heart, is the question," he said.
Former BCCI president Narayanswami Srinivasan who has been at the centre of attention following Supreme Court's decision to allow modifications relating to the age-cap of 70 years for representation to the International Cricket Council.
Fitch on Monday said the likely upturn in the country's investment climate and reduction in interest rates will improve the property market by the end of March 2016.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
All eyes are on Congress chief Sonia Gandhi as top leaders converged at her 10, Janpath residence in New Delhi on Monday after a series of developments in the last 24 hours in Rajasthan, where a majority of the party MLAs have rebelled against Sachin Pilot and want Ashok Gehlot to continue as the chief minister.
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