Prestige Estates to debut Rs 16 bn housing project in Indian market

Bengaluru Real Estate sees resilient growth and promising future

The real estate market in Bengaluru has shown remarkable resilience and sustained growth across different sectors over the past 25 years. Industry estimates indicate that before the pandemic, quarterly residential property sales consistently hovered around Rs 100 billion, with expectations of doubling in the upcoming quarter.

Irfan Razack, Chairman & Managing Director of Prestige Estates, highlighted the unique focus on quality development rather than just return on investment in Bengaluru. He emphasised that the city's market has remained robust even post-pandemic.

Over the la..

Taking ‘stock’ of the real estate market

Steps in the right direction, but the market still remains cautious of the real estate index.

Business is booming, with many developers putting their balance sheets in order, and completions and deliveries being the order of the day. However, experts are still unwilling to declare this as an investable sector, as many policy loopholes exist. Land aggregation norms appear to be a significant hurdle, which some address through joint venture developments. The larger players are cornering a substantial share of the market. The question remains: Is Indian real estate a stable asset on In..

Prestige Estates Q1 FY24 Net Profit Surges 26.56%

Prestige Estates Projects, a prominent real estate company, has reported a significant growth of 26.56% in its net consolidated profit for the quarter ending June 30, 2023. The profit after tax reached Rs 3.17 billion in Q1 FY24, compared to Rs 2.51 billion in the corresponding quarter of the previous fiscal year. Despite this growth in profit, the company's net consolidated total income experienced a slight dip of 2.26%, standing at Rs 19.66 billion in Q1 FY24, down from Rs 20.11 billion in the same quarter last year. During this period, the group acquired 51% shares in Dashanya Tech Parkz an..

Residents Sceptical of Sahastradhara Road Widening

Residents in Dehradun have raised questions and expressed scepticism regarding the proposed widening project for Sahastradhara Road. The project, aimed at widening the road to accommodate increased traffic, has faced criticism and scrutiny from local residents concerned about its potential impact on the environment and surrounding areas.

The Sahastradhara Road widening project has sparked debate among residents, with some questioning the necessity and feasibility of the initiative. Critics argue that widening the road may lead to the loss of trees, green spaces, and heritage structures ..

Warburg Pincus Acquires Shriram Housing Finance

Warburg Pincus, a leading global private equity firm, has announced its acquisition of Shriram Housing Finance for an impressive sum of Rs 4,630 crore. This strategic move underscores Warburg Pincus' commitment to expanding its presence in the Indian financial sector and capitalizing on the growing demand for housing finance solutions in the country.

Shriram Housing Finance, a subsidiary of Shriram City Union Finance, has established itself as a key player in the affordable housing finance segment, catering to the needs of millions of aspiring homeowners across India. The acquisition b..