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.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
People, cutting across all ages and from all walks of life, turned up to pay tribute to the child at the school where she was a student till Thursday.
The BSE Realty index-a gauge of real estate stocks-rose 4.2 per cent on Monday, extending its two-day advance to 7.8 per cent. The latest gains came on the back of robust sales posted by realty developers in the March quarter of financial year 2022-23 (Q4FY23). On Thursday, the rate-sensitive index had gained 2.9 per cent following the Reserve Bank of India's decision to pause interest rate hikes in its latest monetary policy review.
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.
Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said.
Seventy two years ago, a newly independent India ventured to hold the the first Asian Games in Delhi with meager resources.
Bilkis Bano, a survivor of the 2002 post-Godhra riots in Gujarat, on Wednesday said the premature release of all the 11 convicts serving a life sentence in a case related to her and seven family members, has shaken faith in justice and left her numb.
This is the first time after Nitish Kumar dumped the BJP in August 2022 that violence has broken out across the state, reports M I Khan.
Eleven people died during a havan at Beleshwar Mahadev Jhulelal temple in Madhya Pradesh's Indore after they fell into a well as its cover caved-in under the weight of a huge crowd, while three others got fatally electrocuted during a Ram Navami procession in Rajasthan's Kota.
Whether it is DLF in the National Capital Region, or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season.
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.
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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.
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.
Many businesses use charitable work to get project clearances and deviate people from bad publicity. Making corporate social responsibility mandatory would lower such misuse.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
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.
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.
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.
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.
A monster Einstein could soon be powering the way you gather information.
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.
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