Rising rates and bankrupt developers rock Berlin real estate
Q4 profit: Keystone Realtors' profit falls 60%
A 60 % fall was seen in realty firm Keystone Realtors Ltd net profit to Rs 0.3 billion for the March quarter. Last year in the same period. The company?s net profit stood at Rs 0.76 billion.
In addition, total spending increased to Rs 7.81 billion from January to March of the previous fiscal year from Rs 2.71 billion the previous year. In the fourth quarter of the most recent fiscal year, total income increased to Rs 8.26 billion from Rs 3.57 billion during the same period the previous year.
The company's net profit increased to Rs 1.12 billion in the 2023?24 fiscal year from Rs..
Brookfield India Real Estate Trust will acquire a 50% stake
50% of the four Grade A assets from Bharti Enterprises (Bharti) will be acquired by Brookfield India Real Estate Trust (BIRET) as per an agreement between the two. The 3.3 million square feet of commercial real estate included in the deal have an enterprise value of about Rs 60,000 million. The whole equity payment for the 50% interest would be satisfied by giving Bharti first dibs on BIRET units, which are valued at Rs 300 each. After that, Bharti will retain an 8.53% ownership position in BIRET, making it the second-largest unitholder.
The portfolio of properties consists of the op..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..