THANE AND PUNE REAL ESTATE PROJECTS
EC to roll out simpler EVM check protocol; major verifications in Maharashtra soon
Following court battles and a Supreme Court directive, the Election Commission will soon announce a simplified protocol for EVM memory checks, addressing over 100 applications, primarily from INDIA bloc candidates in Maharashtra, after the November 2024 Assembly elections.
Thane-Borivali tunnel to be extended to reduce traffic woes
The Maharashtra government has modified the Thane-Borivali tunnel project, extending its exit point to Satyashankar wall instead of Mulla Baug to alleviate traffic congestion and address residents' concerns about safety and environmental safeguards. This 11.8 km tunnel, costing Rs 16,600 crore, will significantly reduce travel time between Borivali and Thane.
Matter of Prestige: Indian realty behemoth bets on entertainment boom over shirts and skirts
Prestige Estates Projects aims to transform its malls. The company will allocate more space for entertainment and dining. It plans to reduce space for apparel retailers. This shift reflects changing consumer preferences. Prestige seeks to create experience-driven destinations. The company anticipates significant rental revenue growth by 2030. It intends to expand its mall presence across major Indian cities.
Pantomath Group asset management arm launches Rs 2,000-cr Bharat Bhoomi Fund
The Wealth Company Asset Management, part of Pantomath Group, plans to launch Bharat Bhoomi Fund. The fund will be worth Rs 2,000 crore. It will target the real estate sector. Rakesh Kumar and Bhavya Bagrecha will lead the fund. Peter Sharp joins as advisor. The fund will invest in data centers, warehousing, and residential projects.
The Wealth Company aims to raise Rs 2,000 cr fund for realty, infra investments
The Wealth Company Asset Management, part of Pantomath Group, aims to raise over Rs 2,000 crore via its Bharat Bhoomi Fund, a Category II AIF targeting execution-ready real estate projects. The fund will invest across data centers, renewables, residential and retail segments, with a strong focus on India's infrastructure-led growth corridors.
Prestige Group aims 59% growth in FY26 sales bookings at Rs 27K cr on strong housing demand
Prestige Estates anticipates a significant rise in property sales. The company aims for Rs 27,000 crore this fiscal year. This is a 59% increase from the previous year. Sales bookings declined in the last fiscal year due to launch delays. However, strong pricing power boosted average realization. The company plans to launch multiple housing projects across major cities.
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JM Financial gets 142,000 sq ft Mumbai office space through CIRP resolution
JM Financial Products has acquired 142,000 sq ft of office space in a Mulund high-rise as part of a bankruptcy-linked settlement involving Ariisto Realty. The Rs 150 crore property transfer, structured through the insolvency resolution process, marks a strategic addition to JM’s portfolio and reflects evolving real estate debt settlements.
Hiranandani Communities eyes Rs 1,100 cr revenue from new MMR housing project
Hiranandani Communities anticipates a revenue of Rs 1,100 crore from 'The Arena', its new housing project in the Mumbai Metropolitan Region. The initial phase features approximately 600 units within the 588-acre Hiranandani Fortune City in Panvel. The company highlights Panvel's growth potential, driven by rising incomes and expanding job opportunities.
IFC picks up 44% stake in Birla Estates’ two residential projects, invests Rs 420 cr
International Finance Corporation will invest Rupees 420 crore in Birla Estates' Thane and Pune housing projects. The investment aims to develop around 9.5 million sq ft of saleable area. IFC will hold a 44% stake in the projects. This partnership will expand access to sustainable housing for first-time home buyers.
How Godrej Properties, DLF and other real estate majors sold homes worth Rs 1.62 lakh crore in FY25
India’s top 26 listed real estate developers sold homes worth Rs 1.62 lakh crore in FY25, up over 20% from last year, as trust and brand equity drove a surge in residential sales. Godrej Properties led with Rs 29,444 crore in pre-sales, followed by DLF and Lodha Group, amid a clear shift towards established players and premium housing.
Realty, renewables, roads to see Rs 17.5 lakh cr investment boost
India's real estate is transforming with premium housing demand and GCC influx, attracting significant investments alongside renewables and roads. Developer revenues are expected to grow steadily, while commercial real estate sees stable momentum. Despite challenges like excess supply and monetisation delays, healthy balance sheets and strong funding frameworks support infrastructure resilience.
L&T secures significant order from JSW Energy for heavy civil infrastructure business in Maharashtra
Larsen & Toubro's Heavy Civil Infrastructure business has secured a substantial order from JSW Energy to execute the Bhavali Pumped Storage Project in Maharashtra. This project, with a 1500 MW capacity, involves extensive civil works, including reservoirs, tunnels, and an underground powerhouse. L&T emphasizes the project's importance for grid stability amid increasing renewable energy integration.
Buy, Sell or Hold: Emkay initiates coverage on Aditya Birla Real Estate; Morgan Stanley initiates coverage on Swiggy
Emkay Global has initiated coverage on Aditya Birla Real Estate with a Buy rating and 40% upside potential, driven by strong bookings, project pipeline, and healthy financials. Meanwhile, Morgan Stanley began coverage on Swiggy with an Overweight rating, citing its improving food delivery performance and rapid expansion in quick-commerce. Both brokerages signal strong long-term growth prospects for the respective companies.
Commercial real estate: How false promises, legal gaps and poor location choices can make it dud investment
Two buyers share how false promises, legal gaps, and poor location choices turned investment hopes into heavy losses.
3 reasons why Warren Buffett doesn’t buy REITs, but here’s why that shouldn’t stop you
Warren Buffett's Berkshire Hathaway largely avoids REITs due to their tax structure and the company's investment philosophy, which prioritizes high unleveraged returns. However, Indian REITs offer individual investors tax-efficient income and liquidity, making them a potentially smart portfolio addition. SEBI regulations and transparency further enhance their appeal as an alternative to traditional real estate.
Real estate stocks deliver rocket returns this week as BSE Realty eclipses sectoral peers with 10% rally
The real estate sector has emerged as a powerhouse, with the BSE Realty index recording substantial weekly gains. This momentum can be traced back to the Reserve Bank of India's repo rate cut, which has sparked renewed interest in property investments. Leading the charge is Sobha, whose stock has taken off, joined by gains in Financial Services and Metal sectors.
Maharashtra reports 114 new COVID-19 cases; one more patient dies
Maharashtra has reported 114 new COVID-19 cases, raising the total to 1,276 since January, with one additional death bringing the toll to 18. Mumbai recorded 37 new cases, contributing to a city total of 612 since January, predominantly in May. Thane and Kalyan-Dombivli also reported new cases, with active cases under observation in both civic bodies.
RBI’s surprise 50 bps rate cut seen reviving real estate demand. Here's what it means for property investors
In a move expected to unlock a fresh wave of housing demand, the Reserve Bank of India on Friday slashed the repo rate by 50 basis points to 5.5%, marking the third straight rate cut under Governor Sanjay Malhotra.
ET Graphics | Bricks, bytes & bamboo: How green buildings are quietly rerouting India’s skyline
India is making strides towards net-zero goals. Green buildings are becoming more common. Sustainable construction is growing nationwide. India ranks third globally in LEED-certified spaces. This contributes significantly to global green building efforts. Eco-friendly real estate is changing construction. Housing, offices, schools, airports, IT parks, and hospitals are all impacted. This shift is reshaping how buildings are built and used.
Mid and affordable real estate likely to catch up with luxury segment; 10-15% booking growth expected: Kunal Tayal
BofA Securities reports the residential real estate sector is in its fifth year of an upcycle, characterized by demand exceeding supply. While luxury housing initially drove growth, a more balanced contribution from mid-segment and affordable housing is anticipated. Developers can expect continued booking growth, though volume growth was challenging in the past year, larger companies are consolidating the market.
91Springboard sets up 6 co-working centres with 3,600 seating capacities
91Springboard has expanded its presence in Mumbai, Delhi-NCR, and Pune by launching six new co-working centers, adding 3,600 desks and 1.7 lakh sq ft of space. This move aims to cater to the increasing demand from entrepreneurs, freelancers, and large enterprises for flexible office solutions. With this expansion, 91Springboard now boasts 30,000 desks across 1.5 million sq ft in India.
Maharashtra reports 59 new COVID cases, active tally at 494
Maharashtra has reported 59 new COVID-19 cases, with Mumbai accounting for 20, raising the state's total to 873 since January 1, 2025. Active cases stand at 494, with 369 recoveries. Mumbai has recorded 483 cases this year, predominantly in May. While most patients exhibit mild symptoms, experts advise vigilance, noting that 7 of the 9 deaths involved individuals with comorbidities.
Godrej Properties acquires 14-acre land in Pune to build housing project worth Rs 4,200 cr
Godrej Properties has expanded its footprint in Pune by acquiring a 14-acre land parcel in Kharadi-Wagholi. The company plans to develop a premium housing project with a developable potential of 3.7 million square feet. This project is estimated to generate a revenue potential of Rs 4,200 crore, strengthening Godrej Properties' presence in key micro-markets across India.
Prestige Group to launch housing projects worth ₹42,000 crore in FY26
Prestige Estates Projects Ltd plans an ambitious expansion, launching 25 residential projects across major Indian cities this fiscal year, aiming for a gross development value exceeding Rs 42,000 crore. This move follows a year of delayed project launches and a subsequent dip in sales bookings and overall financial performance, despite significant growth in average realisation per square foot.
Kanakia, hines tie up for ₹3,000 crore office project in Mumbai
Hines and Kanakia Group have partnered to develop a ₹3,000 crore commercial office project near Bandra-Kurla Complex, Mumbai. Sumitomo Corporation and Mitsubishi Estate have joined the alliance for the 1.5 million sq ft premium office space development.
Puravankara posts Rs 1,282 crore pre-sales, FY25 loss narrows
Puravankara Limited achieved a historic milestone with pre-sales hitting an impressive Rs 5,006 crore. The company sold 5.67 million sq. ft., marking a 10% increase in average realization compared to last year. With total revenue climbing to Rupees 2,093 crore and customer collections reaching Rupees 3,937 crore, the company’s financial health is thriving.
Hines, Kanakia, Japan’s Sumitomo, Mitsubishi in JV for office project in Mumbai’s BKC
Kanakia Group has partnered with Hines, Mitsubishi Estate, and Sumitomo Corporation to develop a 1.5 million sq ft premium office complex in Mumbai's BKC. Kanakia Group owns the land, while Hines, MEC, and Sumitomo are institutional investors and development partners. The project aims to set new standards in India with world-class amenities and design.
Prestige Estates Q4 Results: Profit slumps 82% to Rs 25 crore
Prestige Estates Projects Ltd experienced a significant decline in financial performance, with net profit dropping 82% in the March quarter and sharply falling for fiscal year 2024-25. Despite the downturn, the company is expanding its portfolio through a partnership with Valor Group to develop a Rs 4,500 crore office complex in Mumbai.
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