Browsing: Company News

Company News Financial Results, Puravankara Limited, Ashish Puravankara, Bengaluru Property Market, India's Best Realty Brands, Quarterly Results, Financial Results
Puravankara reports highest ever Q3 sales; revenue growth of 67% amounting to INR 410 crore

On Puravankara’s future plans he said, “We will continue to work towards expanding our market share,and we are excited to announce that in Q3FY23 the group has achieved increased revenue from projects by 77%, increased collection from operations by 87% from construction and delivery against the similar quarter in the previous year. This is supported by increased sales and new launches of over 4.11 msft in 9MFY23 with the last quarter of the current financial year adding another 2.17 msft. Our per Sq. Ft. of debt on under construction area has reduced by 49% from INR 2,524 to INR 1,291 over the last four years.

Company News Noida, Noida Authority, Noida Land Parcels, Noida Land Acquisition, M3M India, Pankaj Bansal, Noida Builders
M3M enters Noida with Rs. 2400 crore investment in mixed-use project

Real estate developer M3M India has purchased a 13-acre land parcel in Noida. The outright purchase has been through e-auctions and the developer plans to invest around Rs 2,400 crore to develop a mixed-use project. M3M India has a major presence in Gurugram and this is part of the company’s market expansion to Noida through this project.

Company News Puravankara Quarterly Results, Listed Realty Companies, Stock Performance, Realty Index, Ashish Puravankara
Puravankara posts highest ever sales for September quarter

In an exclusive interview, Abhishek Kapoor, CEO of Puravankara said,”What is the value of a real estate? If you look at this quarter number compared to the last quarter number then my delivery is lesser. But next quarter again you will see a swing because next quarter and next to next quarter we have delivery in the pipeline. This year so far we have delivered 600 units but in the next two quarters we will deliver more than double; about 1500 units. So, that will factor in our revenue realisation. What is relevant for our business is our sales number & pre-sales number that has gone up to Rs 1300 crore for the first half of the year. It is all about the new accounting norms (IND AS 115),” says Kapoor.

Company News Evergrande, China Real Estate, Shenzhen Property Market, Global Real Estate Brands, Funding in Real Estate, Debt in Real Estate
Evergrande and the unlearnt lessons of Indian real estate

Within the built environment of the Indian real estate there is still denial about too many parallels between the Indian and the Chinese real estate. Many even believe that the Indian economy is not that real estate dependent as the Chinese economy. Even when admitting the crisis in Indian real estate, it is diplomatically wrapped in the developer’s justification of not learning any lessons on part of the Indian developers.

Company News Hawelia Group, Hawelia Valenova Park, Hawelia Valencia Homes, Arihant Arden, Coronavirus and Real Estate, Real Estate and Covid19, Coronavirus Impact on Property, Hawelia Humanity
Hawelia fails with supply of essentials in Corona lockdown

It is pertinent to note here that the builder has serious tussle with many of the home buyers at both his projects. Many a times the home buyers have been overtly refused the services with point blank justification that the Hawelia Facility Management is not obliged to entertain those who are unsatisfied buyers. However, in today’s pandemic it is not just unprofessional & unethical but also inhuman to not facilitate supply of day-to-day commodities when the builder’s commercial shops are not operational. Interestingly, Hawelia’s CSR initiative is called as Hawelia Humanity.

Company News Sobha Limited, Click2Buy, Online Property Expo, Bengaluru Property Expo, NRI Property expo, HNI Property Expo
SOBHA launches its first online ‘Click2Buy’ Home Expo

The three-day exclusive window scheduled from December 14th to December 16thDecember 2019 will feature free-to-listen knowledge sessions from SOBHA’s top leadership team, industry guests and patrons, helping home buyers take smart decisions. The bookings at this online Expo is live from November 23rd November, 2019 onwards on the link www.sobha.com/click2buy.

Company News Vaishnavi Group, Vaishnavi Serene, Katerra, Real Estate Gen Next Technology, Technology in Real Estate, Bengaluru Property Market, Bengaluru Project Launches
Vaishnavi Group joins hands with Katerra for new technology

Vaishnavi Group will unveil Vaishnavi Serene to showcase Katerra’s technology. This project is adjacent to the lush green CRPF Campus in Yelahanka. The project comprises 896 apartments in configurations of 1, 2 & 3-bedroom apartments. It offers potential home owners several firsts in terms of features – from being the first residential project in Bangalore to be built with Global off-site precast technology, to being the first community to offer homes with a new set of specifications and smart sizes to highly enhanced space efficiency along with Vaastu compliance.

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