Brookfield India Real Estate Trust reported an 89 per cent increase in net operating income in the fourth quarter of FY24 on the back of robust leasing and rent escalations. The REIT also announced signing of binding agreements to buy a 50 per cent stake in a 3.3 million square feet commercial portfolio from Bharti…
Brookfield India Real Estate Trust (BIRET) has signed binding agreements to acquire a 50 per cent stake in four Grade A assets from Bharti Enterprises, the company said in a statement. The acquisition includes marquee commercial properties totalling 3.3 million square feet at an enterprise value of ₹6,000 crore. The total equity consideration for the…
Real estate major, DLF, which has guided for nearly 20 per cent year-on-year (y-o-y) increase in sales bookings to ₹17,000 crore for FY25, will focus on super-luxury projects with one out of every five homes sold being in that category. Super-luxury projects are priced upwards of ₹50 crore, while the luxury and premium luxury units…
Last week, Raymond Ltd honcho Gautam Singhania pointed out that Mumbai was built 60-80 years ago, and a large part of the city was slum, adding that redevelopment projects presented a $2-trillion opportunity. This is an opportunity that developers are not letting go, as for a land-starved city, redevelopment is the only way for builders…
Realty major, DLF Ltd reported an over 60 per cent rise in consolidated net profit to ₹920 crore for the quarter ending March 31, 2024. The company’s net profit in the year-ago-period was ₹570 per cent. Revenue for the quarter stood at ₹2,317 crore. Gross margins stood at 60 per cent, it said in a…
Indian realty firm, Shapoorji Pallonji Group has sought more time, to meet some payment obligations from bondholders of group company Goswami Infratech, according to a letter seen by Reuters on Monday. Also read:Shapoorji Pallonji Group’s Afcons Infrastructure files papers for ₹7,000-cr IPO The company is required to pay around 14 billion rupees ($167.62 million) to…
As many as 449 infrastructure projects, each entailing an investment of ₹150 crore or above, were hit by cost overrun of more than ₹5.01 lakh crore in March 2024, an official report stated. According to Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth ₹150 crore and above, out of 1,873 projects,…
Magicbricks has released its rental update for January-March 2024, indicating a surge in rents across 13 major Indian cities. The report highlights a 16 per cent year-on-year increase in rents, with Greater Noida, Gurugram, and Bengaluru leading the way with Y-o-Y growth rates of 32.1 per cent, 24.5 per cent, and 23.7 per cent, respectively.…
Blackstone-sponsored Nexus Select Trust is planning to acquire more malls in major and strategic locations across the country, as part of its overall plan to ramp up its presence not only geographically but, also in terms of area, at an average rate of 1-1.5 million square feet, annually. Also read:Nexus Select expects to post 9%…
Blackstone-sponsored Nexus Select Trust is poised to report 9 per cent growth in its net operating income (NOI) and 9-10 per cent higher distribution in FY25 as it exceeded its targets for FY24 on several parameters. The mall-focused real estate investment trust reported NOI of ₹416.6 crore in Q4 FY24, up 13 per cent year-on-year…