Developers are entering one of the busiest construction cycles, with the top four firms planning launches worth Rs 1.13 trillion over the near to medium term, even as execution faces pressure from approval delays, labour shortages, rising costs, and contractor capacity limits across the industry.
Real estate firm Godrej Properties' profit (attributable to the equity holders of the parent) for the second quarter of FY26 grew 21 per cent year-on-year (YoY) to Rs 405.1 crore, beating analysts' estimates. The Bloomberg analysts' poll had pegged the profit at around Rs 349.4 crore.
Hungry for deals, Godrej Properties plans to treble the number of project launches in the current financial year, from five launches in FY2012 to 15 in FY2013.
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties executive chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre.
During the first half of 2014 (a slow phase), Godrej Properties notched Rs 1,900 crore (Rs 19 billion) of sales, almost equivalent to what was recorded in all of 2013.
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.
Politics is his first love, but it is downright business that he is trying to learn, at the Godrej group. Some three weeks ago, Pirojsha Godrej, Adi and Parmeshwar Godrej's 23-year-old son, joined the family business as a management trainee.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
However, both developers as well as analysts are hopeful that these business metrics will pick up once activity resumes.
With Pirojsha Godrej at the helm, Godrej Properties posted a fourfold jump in profit in the third quarter of the current financial year, probably the only real estate company that did so well in that quarter.
The Kanakia group, from which Mapletree did the purchase, had bought the plot from India Tube Mills and Metal Industries for Rs 363 crore in 2018.
The BKC commands Rs 28,000-29,000 per sq ft for office property and monthly rents are Rs 250-300 per sq ft
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
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.
Adi Godrej, 75, will become chairman emeritus after leading the company for 17 years as Nisaba, currently executive director of the company, assumes the new role of executive chairperson at Godrej Consumer Products on May 10, 2017.
Swanky flats, mall to replace the iconic property.
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.
'After that, volumes and prices would move up.'
Shift to new business model to help companies cut capital cost, increase margins.
Carnival group buys project in Chandigarh from L&T for Rs 1,785 cr.
Listed Mumbai developers are battling higher inventory levels.
Developers announce new projects, vacant land being unlocked
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
The new law would boost home buyer confidence as well as investment in the realty sector.
Burjis Godrej, 25, son of Nadir Godrej will join Godrej Agrovet in July
Vivek Gambhir revels in his two-city life between the Godrej-owned flagship in Mumbai and his own family in New Delhi.
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