Respite likely for realty firms in December quarter

14 Jan 2013 CW Staff

According to data from brokerage firms show that real estate companies, battling low volumes and poor cash flows, should see improvement in the December quarter, due to launches and festive sales. The low base of the corresponding quarter of the previous financial year is also expected to help.

Companies in the sector are expected to see 14 per cent growth in sales and 16 per cent in net profit in the third quarter of 2012-13, data culled from six brokerages show.

In the September quarter, realty companies posted a decline of 23.5 per cent in net profit and 11.9 per cent in net sales, as buyers deferred buying homes due to high prices and interest rates. The low base of the corresponding quarter of the previous financial year is expected to help firms see improvement in the quarter. Companies in the sector are expected to see 14 per cent growth in sales and 16 per cent in net profit in the third quarter of 2012-13.

Quick approvals for projects in Mumbai and the recent slew of launches there, in Bangalore and the National Capital Region are likely to have a positive impact. According to equity brokerage Maybank Kim Eng Securities, project launches rose 30 per cent to Rs 6,000 crore in the third quarter of FY13 and construction work has picked up in most ongoing projects, with the largest progress shown by DLF, Oberoi Realty and Sobha Developers.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..