Business Standard brings you the top stories on Tuesday
After being hit hard by Covid-19 due to scarcity of labour and low budget spending, India's real estate industry is now gathering pace and is on the course to healthy recovery.
The Series E funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures
The investment in the affordable housing has been 17 per cent of the total PE investment in the residential segment in India in the past 10 years (since 2011).
The SC's verdict is now expected to trigger a major change in state-specific rules modelled on this Act
Experts say returns from these funds could be slightly lower, but also less volatile, compared to international equity funds
During the 2020 calendar year, sales had plunged 47 per cent to 1,82,639 units from 347,586 units in 2019, mainly because of strict nationwide lockdowns imposed in March last year
Evergrande's troubles in meeting bond repayments have rattled markets and left many of its investors, creditors and suppliers in financial chaos
State-owned construction firm NBCC on Friday reported a 68 per cent rise in its consolidated net profit to Rs 72.03 crore for the second quarter ended September 30. The company had posted a net profit of Rs 42.80 crore in the year-ago period. The total income rose to Rs 1,960.91 crore in the second quarter of this fiscal from Rs 1,426.27 crore in the year-ago period, according to a regulatory filing. Delhi-based NBCC had posted a net profit of Rs 221.80 crore over a turnover of Rs 7,012.35 crore for the entire 2020-21 financial year. NBCC is engaged in project management consultancy (PMC) and real estate businesses.
Realty firm Omaxe on Friday reported a consolidated net loss of Rs 39.05 crore for the second quarter ended September 30. The company had reported a net loss of Rs 76.13 crore in the year-ago period. The total income, however, rose to Rs 191.34 crore in the second quarter of this fiscal from Rs 163.47 crore a year ago, according to a regulatory filing. Delhi-based Omaxe had posted a net loss of Rs 235.18 crore over a turnover of Rs 514.59 crore for the entire 2020-21 financial year.
Sharp run in stock prices over the past three months, however, caps near term upside
The India Cements Ltd on Wednesday said price of cement would increase
The apartment on the Peak came with three parking spaces and is measured at 4,544 square feet
Realty major DLF on Wednesday said the company will develop six new retail properties across major cities comprising 2.3 million square feet area as part of its expansion plan
SHANGHAI/HONG KONG (Reuters) - Cash-strapped China Evergrande Group teetered again on the precipice of default as it faced a final deadline to make an offshore bond coupon payment on Wednesday, amid growing concerns about a liquidity squeeze in the property sector.
The Indian real estate sector has seen a spike in demand during the festive period, a recent report by Knight Frank, India informed
The company posted a revenue of Rs 819 crore in the quarter, up 59 per cent on a year on year basis
Scales up lending at a time when most big lenders shying away from sector
Backed by economic revival, record low interest rates and stable prices, India's residential real estate market is set to see growing demand
If the current uptrend in demand persists, prices could begin to inch up