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.
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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.
Apart from data centers, there is likely to be more focus on greenfield assets in the industrial sector in 2022 led by strong demand from E-commerce companies. The Industrial and warehousing segment saw investments at a five-year high at USD1.1 billion. Green financing through green bonds will also see greater acceptance this year in India as developers, asset owners and investors turn their focus to sustainable development. This trend has further been accelerated by the pandemic across geographies.
Shantanu Rastogi has invested in supporting ambitious entrepreneurs who are doing innovative work to serve the large Indian consumption basket. He has immense trust and belief in the your-space brand and its mission. On his recent investment in your-space, Shantanu Rastogi, said “There is a significant unmet need for safe, comfortable, convenient and affordable lodging & community spaces for 30M+ migrant undergrad and post-grad students in India. India being one of the largest suppliers of skilled talent across engineering, medicine, law, finance and several other professions to the world, needs high quality student housing operators to address this large and growing demand alongside high quality universities and institutions”
As part of a long-term partnership, Abu Dhabi Chamber of Commerce & Industry and CONNECT have announced two inaugural events, Middle East Design & Build Week (MEDBW) and Middle East Manufacturing & Technology Expo (MEMT). Both the physical events are scheduled to be held between 5 – 7 December 2022 at Abu Dhabi National Exhibition Centre (ADNEC), UAE.