The land acquisition expands Sumadhura Group’s Bengaluru and Hyderabad land bank to a significant 100 acres in FY 2023-2024, fuelling their future growth. The company boasts an impressive track record of completing 11 million square feet of residential and commercial projects in the last 30 years. The momentum continues with over 40 million square feet of additional development currently underway or in the planning stages, encompassing residential, commercial, and warehousing projects.
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Puravankara Limited, India’s 5th best real estate brand (as per Track2Realty BrandXReport 2022-23), has bagged the Achievement Award for Creating Social Development and Impact at the 15th Edition of the Vishwakarma Awards, hosted by the Construction Industry Development Council (CIDC) – a joint initiative by the Niti Aayog and the Indian construction industry.
Housing.com in collaboration with The Times of India, presented the ‘Right To Excellence – Real Estate Summit’ on March 15th, 2024, at the Crowne Plaza in Gurgaon. This summit aimed to convene numerous industry luminaries, market experts, thought leaders, and stakeholders to delve into the future trajectory of the technology and real estate sector in India.
Puravankara Limited, 5th Best Indian real estate brand (as per Track2Realty BrandXReport 2022-23), has announced an interim dividend payout of INR 6.30 per share for the financial year 2023-24 on 23,71,49,686 equity shares of face value of INR 5 each with a total dividend payout of INR 149.40 crores. The dividend will be paid to those shareholders whose names stand on the Register of Members of the Company as of February 1, 2024.
Puravankara Limited, (5th best Indian real estate brand as per Track2Realty BrandXReport 2022-23), has recorded a strong sales performance in 9MFY24 with a sales value of INR 3,967 crores, an increase of 89 per cent compared to INR 2,100 crores in 9MFY23.
Puravankara Limited in the second quarter (Q2FY24) ending September 30, 2023 has reported sales of INR 1,600 crore, an increase of 102% Y-o-Y. Sales volume for the quarter stood at 2.01 msft, up by 89% Y-o-Y with a strong collection of INR 879 crore (+70% Y-o-Y).
Intygrat Law Offices, a boutique law firm that has multiple real estate as well as home buyers’ client portfolio has been honoured with the National Legal Excellence Award at the ASSOCHAM’s Bharat Legal Conclave 2023. The award ceremony was in New Delhi on Friday, October 20, 2023.
The Indian economy grew at 7.8 per cent in the first quarter of the current fiscal year, according to the data shared by National Statistical Office. The Reserve Bank of India (RBI) retained its GDP growth forecast of 6.5 per cent for FY 2023-24. The real estate sector is expected to expand to $5.8 trillion by 2047, contributing 15.5 per cent to the GDP from an existing share of 7.3 per cent, a joint report by Knight Frank and National Real Estate Development Council (NAREDCO) indicates.
The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
Puravankara has recorded highest ever first quarter sales of INR 513 crores from ongoing projects, area sold stood at 0.69 msft. Profit After Tax for Q1FY23 at INR 35 Crore up 258% qoq. Operating inflows stood at INR 667 Cr up 16% qoq.