From being a single store in Delhi, The Shop is now in Bengaluru, Mumbai, Kolkata, Coonoor and Noida.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
Bangalore-based Sobha Developers had a two-fold rise in its net profit to Rs 34.3 crore (Rs 343 million) in the April-June quarter. J C Sharma, Managing Director, spoke to Business Standard on the revival in demand and the company's growth plans.
Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.
Markets such as Bengaluru and Chennai, which had managed to escape the impact of real estate slowdown so far, appear to be giving in now.
Puneet Wadhwa and Debashish Pachal locate real estate stocks to watch out for.
With more new listings on the bourses trading at a discount to the offer price, retail investors are no longer queuing up for initial public offering applications.
Sobha Developers, a Dubai-based real estate company, will fund the ace Indian long junper's training ahead of the Athens Olympics.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The Bharatiya Janata Party-National Democratic Alliance, which fought the April 2 assembly polls with the fancy claim of winning at least 35 seats in Kerala, on Sunday came a cropper as it failed to retain even its lone segment Nemom, even as all its major contestants, including 'Metroman' E Sreedharan and party state chief K Surendran, fell by the wayside.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
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Some major property companies based in South India, such as Puravankara and Sobha Developers, are spreading their wings in the high-growth National Capital Region market.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
Many businesses use charitable work to get project clearances and deviate people from bad publicity. Making corporate social responsibility mandatory would lower such misuse.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
In an unprecedented action in state legislature history, Andhra Pradesh Assembly Speaker Nadendla Manohar on Friday night disqualified 16 MLAs of ruling Congress who had voted against the party government during a no-trust motion in December last year sailing with expelled Congress leader Y S Jaganmohan Reddy.
On April 5, 2016, the Nitish Kumar-led government imposed total prohibition in Bihar. M I Khan crunches numbers for the REAL picture since then.
A group of Keralite nurses moved in a vehicle by rebels from their hospital in Tikrit in Iraq are lodged in an old building near a hospital in Mosul and are safe, according to family members of a nurse in Kottayam.
A mentally unstable woman was mercilessly beaten up by a group of people at Sadar hospital in Bihar's Begusarai district, presuming her to be a child thief, even as a home guard jawan was suspended for pulling the victim's hair, apparently to save her from the clutches of attackers, the police said on Friday. The woman, identified as Sobha Devi, 45, was mercilessly beaten up by some people, including women, on Thursday at Sadar hospital.
Tata Housing, Bharti Realty have announced projects near Delhi.
In a matter of seconds, 55-year-old Sobha Ram Sehrawat, a resident of Parvatiya Colony in Old Faridabad, lost three members of his family on Wednesday night. "They had gone to the terrace because there was a power cut. My son and I had come down to check if there was something wrong with the meter. Within seconds, our house came crashing down," recalls Sehrawat. He is standing outside the cremation ground, where he has just cremated his wife, daughter and daughter-in-law.
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.
The exercise would culminate into the election of a successor to Amit Shah.
Puravankara Projects scores better than its peers on growth and profitability.
Smart homes that do your everyday tasks are now coming on the Indian market. Several real estate firms are making this reality as they venture into constructing automated homes.
A monster Einstein could soon be powering the way you gather information.
A recent report by Citi had pegged the total amount stuck in stalled projects across seven major Indian cities (Bengaluru, Mumbai Metropolitan region, National Capital Region, Ahmedabad, Hyderabad, Kolkata and Pune) at Rs 80,000 crore.
The sector, which is top five in terms of market capitalisation rankings two months ago, slipped to number eight position on Wednesday. On Tuesday, the Mumbai Metropolitan Region Development Authority (MMRDA) failed to get bids for two of the five plots that it auctioned in Bandra-Kurla Complex (BKC) in Mumbai.
Bangalore-based firm Sobha Renaissance Information Technology is set to unveil a software that will enable internet users to pay only for the bandwidth they use.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
If you are already invested in real estate stocks, you've made your money, exit
In the broader market, the BSE Smallcap and BSE Midcap index gained 0.1% and 0.4%, respectively
At least 50,000 units of new residential property are set to come up over the next three years
Investors will maintain a cautious stance.
Anju George, Anil Kumar and J J Sobha won gold medals as India scooped up nine medals from athletics.
DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
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.
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