The July-September quarter (Q2) results for 2024-25 (FY25) from the largest listed consumer electrical solutions companies, Havells India and Polycab India, followed similar trends, demonstrating robust revenue growth while falling short of profitability expectations. Both companies witnessed overall growth in the 16-30 per cent range, but margins declined by 130-290 basis points (bps) year-on-year (Y-o-Y). Although brokerages are bullish on long-term prospects and have raised revenue projections, earnings forecasts have been revised downward due to margin pressures.
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector.
India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. The gross leasing or absorption of office space stood at 745.6 lakh square feet in the preceding year, data from real estate consultant Cushman & Wakefield (C&W) showed.
Electrical Consumer Durable (ECD) companies like Havells India have seen strong Q4FY24 sales and continuing seasonal demand across fans, air coolers, and room air conditioners (RAC) in addition to business-to-business sales of cables, switchgear, and professional lighting, among others. Havells India's Q4FY24 revenue rose 12 per cent year-on-year (Y-o-Y) to Rs 5,400 crore, in-line with consensus. Strong summer demand led to robust volume growth in fans and RAC and volume growth in cable and wires (C&W) due to infrastructure spending and real estate activity.
However, the Polycab share price is up by nearly 80 per cent while Havells' has risen by 39 per cent. The Sensex has gained 26 per cent in this period. The Q1FY25 results were in line for both companies.
The new launches were concentrated in the suburban locations of Gurgaon (66 per cent) and Noida (34 per cent) with over 80 per cent of units catering to the mid-range segment.
It recorded the third highest growth in investments
Smart Cities can be a success depending on the basic amenities it manages to provide citizens.
New Delhi's upscale Khan Market continues to be the most expensive place to hire a shop in the country, even though its ranking worldwide has dropped by three notches to 31st position.
At roughly Rs 71,270 crore, Ahmedabad saw the highest volume of investment by various companies in last two years among top 10 emerging business destinations, said global real estate consultancy, Cushman & Wakefield (C&W).
Investment in real estate sector in India stood at $3.4 billion during 2012.
The global realty consultant attributed the rise in PE investments to increased attraction of institutional investors towards leased income generating office buildings.
Mid-segment residential units continued to remain favourite amongst developers with a two-third share in total launches.
The net absorption of office space fell by 25 per cent at 23 million sq ft during this calendar year in the country's top eight cities as corporates were cautious about expansion considering weak economic conditions.
Launch of new homes dropped by 12 per cent to over 172,000 units so far during this calendar year in the eight major cities.
The study further said the mid-range housing segment is expected to drive the maximum demand of 45 per cent.
C&W conducted a series of interviews with Chinese and Indian companies already established in Dubai as well as with those companies considering setting up in the region.
Office space leasing in the Delhi-NCR region jumped more than three-fold to nearly 1.5 million sq ft during the January-March period, mainly due to higher absorption by IT firms in Gurgaon.
Saffronart, the online portal that sells art and jewellery has joined hands with real estate services firm Cushman
To tap into the growing demand for offices, several global and Indian co-working entities are creating stock in the top cities.
The total demand for housing in the country is likely to cross 75 lakh (7.5 million) units within the next five years, while the same for commercial spaces will touch 195 million sq ft, signalling a revival in the realty sector.
Upscale Khan Market in New Delhi has slipped by 7 notches to the 24th position in the list the 60 most expensive retail high streets in the world this year, says a global survey.
Domestic IT majors Tata Consultancy Services and Wipro are believed to be front-runners for a multi-million outsourcing deal from UK-based telecom and networking major Cable & Wireless.
Videsh Sanchar Nigam Ltd and Cable & Wireless have tied up to provide enhanced global connectivity services to Indian corporate customers in the IT-enabled Services segment.
Rents have risen most in Delhi's Connaught Place and Gurgaon's Cyber City & M G Road. Because of slowdown, supply has been restricted but demand has risen.
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The decline in the quantum of PE investment in realty sector was due to to less number of deals (13 in H1 2013) as the average ticket size of deals remained same. In first half of 2012, there were 19 PE deals.
The average home prices in Mumbai have touched Rs 12,000 per sq ft
The first quarter of 2015 saw the lowest number of project launches over a period of two years.
Nearly 52,000 new hotel rooms are expected to be added in India over the next five years on rising demand from travellers as global economic conditions improve.
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
They sought further cut in interest rates as well as reforms.
Kolkata excels in business performance with employee headcount and number of engineering students doubling in the last five years.
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