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.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
To commence work on two projects, add Rs 3,000 crore (Rs 30 billion) of business Tata Realty and Infrastructure (TRIL), a wholly-owned subsidiary of Tata Sons, is foraying into retail and hospitality segments through a new subsidiary, TRIL Hospitality Services.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
Rs 15,000-cr investment planned to protect vendors from rising realty prices
Brokerages believe that the Bharatiya Janata Party's (BJP's) stronger-than-expected showing in state elections reduces political risks for the domestic markets going into 2024. However, after the short-term excitement, the focus will soon shift to earnings, global liquidity conditions, and the interest rate trajectory. "BJP's win in the three state elections is much better than what exit polls suggested and reinforces the consensus expectations of a Modi win in the 2024 national elections with a greater likelihood of 300+ seats for the BJP.
Housing sales rose 36 per cent year-on-year to a record 120,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year.
A revival in the sector is still 12-18 months away: Experts
The NSE Nifty ended at 5,058, up 59 points. All the sectoral indices barring the IT index ended in green. The rally was led by realty and auto indices were up 3%, respectively.
The government will announce a second stimulus package next week covering auto, realty, housing and chemicals sectors.The government may announce safeguards for sectors such as chemicals, aluminium and tyres against cheaper imports.
To lure the business process outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
Developers are tweaking their business model by launching smaller apartment sizes and playing the volume game to keep prices low and create buyer interest.
The group was originally planning to raise a $100-million (around Rs 560 crore today) offshore fund but is now targetting $200 million, said Amit Goenka, managing director and chief executive of Essel Financial Services, the group's financial services arm.
They sought further cut in interest rates as well as reforms.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
The government will unveil a second stimulus package to give the economy traction through measures aimed at aiding specific sectors, including auto, realty and small and medium enterprises.
DB Realty claims its business is going as usual. It is developing 13 projects, which will add 20 million sq ft in the next four years.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
The capital and rental values for office space in New Delhi has witnessed an increase in the range of 1-4 per cent during last six months, according to a realty consulting firm.
Rated as one of the best real estate destinations by a number of agencies, Pune's realty market is fast losing its charm as developers are being forced to construct low-end schemes to increase sales. While more than 260 real estate developers are willing to pay three EMIs of home loans taken by their clients and some have offered to rent apartments to future clients, Pune's top developer Goel Ganga group has launched four low-end affordable housing projects in the city.
Land costs constitute 50 to 60 per cent of a project's overall costs.
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.
The total wealth of top 100 real estate barons accounted for Rs 2.37 trillion ($32.7 billion) in 2018, up 27 per cent against 2017's cumulative wealth of Rs 1.87 trillion ($28.6 billion).
Weakness remains in IT and metal shares; Infosys continues downtrend.
In a statement to the CBI, which has been filed as part of the chargesheet in the 2G scam, Radia is also said to have alleged that Pawar could have had a major role in helping Swan Telecom obtain the licence and also get 2G spectrum.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
R'Bonney Gabriel, the first Filipino American to win the Miss Universe title, visited New York's Empire State Building on Tuesday, January 17, 2023.
The NSE Nifty ended at 3,555, down 66 points. The BSE Realty index declined over 5.5 per cent to 2,355. The market breadth was negative- out of 2,580 shares traded, 1,569 declined and 920 advanced.
In its latest report for second quarter 2008, Jones Lang LaSalle Meghraj said that though Indian office markets have continued to post growth over the past few years, the last few quarters have seen a polarisation in the office markets in terms of growth in demand across the country. It has categorised the office markets across six major cities -- Mumbai, Delhi NCR, Bangalore, Chennai, Hyderabad and Kolkata -- in three broad segments.
With markets getting back their mojo after four months, small- and mid-cap shares raced ahead of large caps in April. The Nifty Smallcap 100 index surged 7.5 per cent - its biggest monthly advance in 10 months - and outperformed the benchmark Nifty 50 index by 350 basis points. The Nifty Midcap 100 index soared 5.9 per cent, most since August.
Aggressive acquisitions & deep pockets fuel real estate competition; experts suggest future partnership
Replying to a poser on black money transactions in the real estate sector, the Prime Minister said stamp duties in the country are a 'big obstacle' to cleaning the mess with regard to transactions in real estate.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Realty sector will witness a rise in salary by 25% in 2008, followed by telecommunications and energy sectors.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
Three sectoral indices -- Realty Index, Oil and Gas Index, and Bankex -- led the sharp fall in stock prices in the last five days, which saw the Bombay Stock Exchange's Sensex suffer its sharpest ever continuous drop. The three indices fell nearly 9 per cent each between January 14 and January 18, 2008. Power, metals, IT, capital goods and consumer goods indices also declined by 5-8 per cent during the week.
Warburg Pincus, the private equity major, is set to enter an equal joint venture with Patu Keswani's Lemon Tree Hotels to get into affordable housing.
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