Monday, November 29, 2021

Table of Contents for Ticker Tape





Ticker Tape - Construction

Ashiana Housing expands its Kid Centric Project with the launch of Ashiana Anmol’s Phase-II

Ashiana Housing, a real estate developer, further expanded their kid centric portfolio by launching Ashiana Anmol’s Phase-II recently in Gurgaon, Haryana with 180 units. With the successful implementation of Phase-I of the project and with current occupancy of 180+ families, phase-II is also envisioned to provide customers with world class amenities dedicated towards the holistic development of children. The potential customers who are looking for an all-inclusive ecosystem for the growth of their children have the options to choose from 2 BHK and 3 BHK flats ranging between 73 lakhs to 122 lakhs. Strategically planned, Ashiana Anmol is developed with kids at the very heart of its design. Ashiana Anmol, a dedicated space for children aims at enhancing their capabilities and enriching their experiences with facilities developed forco-curricular, recreational and sports activities. There are umpteen services provided for all-round growth of children such as clubhouse, learning hub, swimming pool, playroom, badminton, basketball, skating, cricket, tennis and more. The project is spread over 13.33 acres which brings contemporary kid centric vision to life. The project also offers ‘Live & Learn’ programme exclusively created for children, exposing them to a balanced mix of activities such as music, dance, theatre, arts and crafts, martial arts etc.

Ashiana Anmol is located at South of Gurgaon, Sohna road and is rapidly accessible from Udyog Vihar, Cyber City, IFFCO Chowk and Rajeev Chowk. It is also in proximity with reputed schools like- Ryan International, GD Goenka World School, DPS Maruti Kunj and Pathways World School. Provisions of various amenities and facilities are also available to further enrich the experience of the residents with 24X7 security with guards, CCTV, amphitheater, cycling and jogging track, power backup, modular kitchens, excellent parking facilities and more. Ashiana Kid Centric Home are the pioneer and largest kid centric homes builders in India with projects situated in Jaipur and Bhiwadi as well.

 

 

Chintels India to invest Rs.400 crore in developing 900,000 sq ft in Gurgaon

Realty developer Chintels India Pvt. Ltd. will invest Rs.400 crore to develop 9.28 lakh square feet of retail and office area at Chintels Center in Sector 114, Gurugram.

Chintels Center will be constructed on a plot size of 6.79 acre and total built up area divided into retail (2,20,000 sq. ft.) anchor (1,15,000 sq. ft.), Commercial (2,00,000 sq. ft.)

It will consist of high street retail, two anchor shops, hyper market, food court, restaurants, multiplex, office complex and double basement parking. It is expected to be completed by 2025.

 

 

Puravankara Ltd’s subsidiaries launch new projects

The wholly owned subsidiaries of Puravankara Ltd are launching below mentioned projects and the pricing is based on Book Building method, where the price discovery process is driven by data from fundamental ‘Demand-Supply’ metrics.

Provident Housing Limited, a 100% subsidiary of the company proposes to launch its area sharing premium affordable housing development ‘Provident Palm Vista’ located near Shil Phata, Mumbai having a total saleable area of about 1.0 mn sq ft where our economic interest is 68.89% with certain clawback conditions. T-Hills Private Limited, a 100% subsidiary of the company proposes to launch its plotted development project ‘Tivoli Hills’ located near Devanahalli, Bangalore having a total saleable plot area of about 1.4mn sft.

 

 

Brigade Conferred ESG India Leadership Award for Leadership in Green Product and Service

Brigade Enterprises Limited has been conferred with the Leadership in Green Product and Service by ESGRisk.ai in recognition of their excellent practices and initiatives in building a green and energy-efficient real estate portfolio. Eleven leading developers in the country were assessed for the Leadership in Green Product and Service Award.

Brigade has embarked on the journey of sustainability reporting to its stakeholders under Global Reporting Initiative (GRI) standards for the past few years.

Regulators and consumers are increasingly demanding green products and services. Initiatives to introduce, develop and market green products and services are becoming crucial. Brigade Enterprises Ltd, acclaimed for its energy-efficient real estate portfolio, boasts green buildings across the country and ensures the integration of Green Building norms in all projects. The company has emerged as leader in Green Product and Service in ESG India Leadership Awards 2021.

The ESG scores are based on a wide range of 739 data points and 525 indicators that have been selected and assigned weights based on their materiality and relevance to specific industries. Each score provides a summary of the corporate’s ESG strategy, initiatives, results, and negative news across 19 critical themes including energy, emissions, water, environmental management, ESG reporting, human rights, community, supply chain, and shareholders’ rights among others.

 

 

Manor Estates and Industries Ltd receives approval for real estate project

Manor Estates and Industries Limited (formerly Karan Woo Sin Ltd) has received approval for its real estate project from the local authorities. The commercial operations of the company shall begin from 15-10-2021 at Survey No.321, Kallakal Village, Gajwel Tq, Medak District - 500001, Telangana.

 

 

Vipul Ltd signs JV agreement with Tulip Infratech

Vipul Ltd has signed and entered a Joint Venture Agreement with M/s. Tulip Infratech Private Limited, for assigning of all development rights to carry out all developments activities in relation to residential project namely “Aarohan Residences” at Golf Course Road, Sector-53, Gurugram, Haryana (‘Project’).

 

 

Prestige Group announces the completion of Prestige High Fields and Prestige Nirvana in Hyderabad

In an endeavor to expand their foothold in the fourth most populous cities of India driven by its historic legacy and cultural diversity, Prestige Group, India’s leading real estate developers, announced the completion of Prestige High Fields and Prestige Nirvana. The two strategically designed developments highlight the company’s promise that homebuyers will experience a life of unending ease, comfort and splendor.

With Prestige High Fields, an apartment project in the heart of Hyderabad financial district at Papalaguda and Prestige Nirvana, a layout project at Rajendranagar, putting buyers within ready reach of all civic needs and amenities, the two new developments conveniently marry utility with luxury. The progressing consumer trends highlight in addition to basic amenities, the rising need for spacious properties, easy commute to work along with health and wellness initiatives. Prestige Nirvana and Prestige High Fields exceed all consumer demands while successfully maintaining the legacy of designing projects that are perfectly in sync with consumer demands.

 

 

Dalmia Cement Bharat Ltd commences commercial production of Line 2 at its Kapilas Cement Manufacturing Works, Cuttack

Dalmia Cement (Bharat) Limited, a leading Indian cement major and a subsidiary of Dalmia Bharat Limited, announced the commencement of commercial production of Line 2, having a capacity of 2.25 Million Tonnes at its Kapilas Cement Manufacturing Works (KCMW) Unit near Cuttack, Odisha. With this addition, the company’s overall capacity at the plant has now gone up to 3.95 million tons per annum. This development is in line with the company’s commitment towards fostering sustainable growth while also creating job opportunities in the region. Last month, Dalmia Bharat Limited had unveiled a long-term plan to grow its cement capacity in the country. It plans to raise its cement manufacturing capacity to 110-130 million tonnes per annum by 2031. The plan will be executed through a mix of organic & inorganic opportunities with an inclination towards the more planned & cost-effective organic route. The company will expand into new regions of operations while consolidating its position in its existing markets.

 

 

Raymond Realty forays into commercial projects, plans joint development to expand ops

Raymond Realty recently announced its foray into the development of ‘Grade A’ commercial and high street retail space at Thane land spread across 9.5 acres. The company also plans to build premium residential units comprising of 3 and 4 BHK units spread across a million square feet subject to requisite approvals.

The company, which de-merged from the textile major parent and has a sizeable land parcel in Thane, will build one million square feet of commercial space as part of the first phase. It will include over 8 lakh sq ft of premium space to be rented out to companies, while the remainder will be a high street shopping space. With the construction going on at a breakneck speed and completion of its first three towers tower structure in a record time, Raymond Realty will be delivering its first unit ahead of 24 months of the RERA deadlines. In addition to Housing and Commercial projects in Thane, Raymond Realty is also evaluating numerous options through Joint Development Agreement without land acquisition in the Mumbai Metropolitan Region. There are various proposals currently under evaluation across MMR and the business is on course to attain significant value creation. The company plans to carve out a subsidiary for its real estate business.

“As for expansion, the company is currently planning to focus on MMR, he said, adding, this is “because we believe that is a big market and a lot can be done and we are already entrenched in that market.”

The company has also announced that customers who have been unable to make payments and had to get their unit forfeited due to financial challenges because of the pandemic, can now get the forfeited amount adjusted till 24 months in case they would like to book a flat again.

Raymond Realty has so far sold over 70% of the total inventory of the around 2,350 units launched to date. With over 100-acre land parcels in the heart of Thane city, Raymond forayed into the real estate space in 2019 with its maiden project ’10X’, which is spread over 14 acres. This is a township comprising 42 storeyed towers of over 3,000 smart-sized homes of 1 and 2 BHK units.

 

 

Godrej Properties adds a large new redevelopment project in Mumbai

The Mumbai-based real estate developer Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, recently announced that it has entered into an agreement to redevelop a land parcel in the upscale neighbourhood of Wadala, Mumbai. Spread across 7.5 acres, this project will offer approximately .15 million sq. mts. (approximately 1.6 million square feet) of saleable area comprising primarily of residential apartments of various configurations.

The land parcel is situated in a marquee residential location and is in very close proximity to Matunga Five Gardens. On its eastern side, the development will enjoy uninterrupted views of the eastern seaboard. With its strategic location, the project will enjoy excellent connectivity via rail, road, and monorail and will benefit from the significant social infrastructure present in the vicinity.

 

 

Welspun One Logistics Parks acquires two land parcels in UP, Haryana.

Welspun One Logistics Parks (WOLP) recently announced its entry into North India with the acquisition of two land parcels spread across Lucknow in Uttar Pradesh and Farukhnagar in Haryana for developing warehousing projects with an investment of Rs.180 crore.

The projects will be executed under Welspun One’s first Alternate Investment Fund (AIF) product ‘’Welspun One Logistics Parks Fund I’’, launched earlier this year, a company statement said.

With a gross leasable area aggregating to approximately 8 lakh sq ft, the projects will be rented to blue-chip tenants from sectors such as e-commerce, third-party logistics, and FMCG / FMCD, among others. The projects are aimed at developing fully-compliant warehousing projects incorporating modern infrastructure and backed by cutting edge technology. Welspun One is the first institutional platform venturing into Lucknow, adding their upcoming development located off the Lucknow-Kanpur highway will arm them to better service the population of Kanpur, Agra, Jhansi, Rae Bareily, Varanasi, Faizabad, and Prayagraj besides the residents of Lucknow. To expedite construction, WOLP has already acquired the necessary estate from a prominent warehousing developer - PlusNineOne. Through this association PlusNineOne , will continue to be an integral part of Welspun One’s expansion plan across this region.

WOLP said its proposed project in Farukhnagar is one of the few sites in this established warehousing hub providing an independent and dedicated campus to an occupier while being easily accessible to State Highway 15A. Further, proximity to prominent trade centres, easy access to Delhi-Jaipur Highway and connectivity to the Indira Gandhi International Airport coupled with Haryana’s industry-friendly policies make it one of the most favourable and convenient destinations for setting up a modern warehousing and industrial park.

 

 

78% of occupiers intend to expand real estate footprint in the next three years

Almost 78% of warehousing occupiers in Asia Pacific intend to expand their real estate footprint in the next three years as continued strong market sentiment ensures occupiers remain in expansion mode, according to CBRE’s Asia Pacific Logistics Occupier Survey. As per the survey, 84% of occupiers expect the operating environment to improve in the next three years while 78% plan to add to their logistics footprint in the next three years and 61% view cost as the top barrier to expansion.

“It is evident the demand for Grade A warehousing is only going to grow exponentially from here. Avigna has expanded its warehouses from 4 locations to 7 locations in the last 2 years and now we are looking at expanding across North and East India,” said Abhijit Verma-Executive Director and CEO of Avigna Group.

E-commerce penetration in India is expected to rise from its pre-pandemic figure of 6.5% to 11.7% by 2025, and recent major expansions include Indian e-commerce platform Flipkart’s announcement that it would add four new warehouses to its current 12-facility Indian network in Q3 2021, representing a 43% increase in square footage.

“The warehousing industry as a whole has undergone a drastic change from godown era to a more structured Grade A construction during the pandemic itself. Avigna is betting big in East India because of its strategic location with newly developed National Highways, Freight corridors and ports with the potential to serve the entire eastern belt and neighbouring countries” said Verma.

The report analyses the views of over 90 respondents from China, Japan, Australia and India among others and it includes Third-Party.

Logistics companies (3PLs), manufacturers, e-commerce platforms, retailers, grocers and F&B services firms. Respondents are primarily senior individuals overseeing their respective company’s logistics real estate portfolios in single or multiple Asia Pacific markets.

“There is absolutely no doubt that warehousing is poised to continue its good demand trajectory in the next couple of years. Ecommerce and Industrial occupy the biggest space in this market and these along with 3PL are expected to continue to grow at a 25-30% per annum trajectory,” said Gagan Randev, Executive director, India Sotheby’s International Realty.

As per the report, occupiers are already displaying a strong appetite for new, high quality logistics space. Net absorption in major Asia markets reached 35.6 million sq. ft. in H1 2021, the highest first half figure on record. CBRE expects occupiers to continue to adopt an aggressive approach to space take-up in the short- to medium-term.

“We work closely with funds who are building out the warehouses in the country and they continue to be on the lookout for land in prime and upcoming locations around the Tier 1 cities and are looking at growth in Tier 2 cities as well,” he added.

The Asia Pacific logistics sector has performed resiliently since the onset of the COVID-19 pandemic on the back of accelerating e-commerce penetration, the development of omni channel retail, and the evolution of supply chain strategies for sourcing and inventory locations.

“The one concern that owners have is on the increase in rentals as that has not kept pace with the increase in land costs, cost of construction (given the ever increasing demand of specs and prices of Steel, cement) but most funds believe that we are poised to see moderate rental increases going forward as well,” Randev said.

The survey found that most occupiers (84%) are optimistic about the outlook for the operating environment, with positive market sentiment being underpinned by the growth in e-commerce penetration and the evolution of consumption patterns.

Within individual sectors, a large proportion of manufacturing respondents (93%) expect to see their business recover over the next three years, backed by strong demand for industrial output and manufactured goods. CBRE expects occupiers to continue to adopt an aggressive approach to space take-up in the short- to medium-term.

Asia’s rapidly growing population and increasing urbanisation rate is creating business opportunities in lower tier cities and emerging areas. Mainland China is home to four Tier I cities along with 17 other cities with an urban population exceeding 5 million 5, each with significant potential for logistics development.

In recent years, developing markets such as Southeast Asia and India have seen strong expansionary demand from occupiers, along with a wave of upgrading demand to newer and more efficient facilities.

 

 

Industrial Park Ratings: 41 parks identified as ‘Leaders’

As many as 41 industrial parks in different states have been assessed as ‘Leaders’ in the second edition of the Industrial Park Ratings System report released by the commerce and industry ministry recently. The ratings are assigned on the basis of key existing parameters and infrastructure facilities, and as per the report, about 98% of these parks are from western (Maharashtra, Rajasthan and Gujarat) and northern (Uttarakhand) regions.

All the states and 51 special economic zones (SEZ), including 29 private, participated in the IPRS 2.0 Report and 24 Private Sector Industrial Parks were also nominated.

“Ratings have been undertaken for 449 out of 478 nominations received. The feedback survey involved responses from 5,700 tenants,” the commerce and industry ministry said in a statement.

According to the report, 90 such parks from states, including Madhya Pradesh, Chattisgarh, Karnataka, Tripura and Uttar Pradesh, have been rated under the “Challenger” category, while 185 have been rated as “Aspirers”.

Minister of State for Commerce and Industry Som Parkash said that the report is an extension of the India Industrial Land Bank, which features more than 4,400 industrial parks in a GIS-enabled database to help investors identify their preferred location for investment. “We expect to achieve pan India integration by December,” he said.

The portal is currently integrated with industry-based GIS systems of 21 states and UTs, and plot-wise information in these are updated on a real-time basis.

 

 

Arihant Superstructures April-September bookings up 159% on year

Listed realty developer Arihant Superstructures has clocked sales bookings of 831 apartments in the first half of the financial year 2021-22 (April-March), registering 159% on-year growth indicating robust sales velocity. In the corresponding first half of the last financial year, the company had achieved a sales booking figure of 321 units while concluding the financial year 2020-21 at 1,097 units.

During the quarter ended June, the developer with its focus on the affordable housing in Navi Mumbai, Mumbai Metropolitan Region (MMR) and the Jodhpur region, had sold 368 apartments.

The company had reported net profit of Rs.8.28 crore for the quarter ended June as against net loss of Rs.7.04 crore a year ago. Total income for the quarter had risen 745% on-year to Rs.84.66 crore.

The company is looking at expanding the business portfolio to 20 million sq ft from the current 10 million sq ft in the next 12 months. It is working on a total 3 project launches in the ongoing quarter and RERA approvals for the same have already been secured.

The company’s operating profit for the quarter ended June had risen 1,048% to Rs 15.38 crore with 479 basis point improvement in operating profit margin at 18.17%. Total collections stood at Rs.93.9 crore, while finance cost reduced by Rs.2.55 crore to Rs.5.35 crore. The developer sold a total 3.07 lakh sq ft area worth Rs.178.72 crore during the first quarter. Ends

Top seven property markets across India have recorded over 124% on-year jump in housing sales during the July-September quarter as the country began to cautiously return to normal economic activities in various states supported by aggressive vaccination drives.

Record low home loan rates, sops offered by realty developers and growing need of home ownership as induced by the Covid19 also helped push the sales momentum after a lull April-June quarter that was marked by the pandemic’s resurgence and restrictions imposed by various state governments.

 

 

Shyam Steel to invest Rs.250 cr to ramp up production

Shyam Steel Industries Ltd is looking to invest close to Rs.250 crore for ramping up production capacity by nearly 50-60 per cent over the next two years. The company has a capacity to produce around one million tonne of crude steel and around six lakh tonne of TMT annually across its five manufacturing units, all located in West Bengal. The company is yet to firm up plans on which units will be ramped up and by how much. It will depend on the demand situation. It is also evaluating the possibilities of setting up a greenfield plant in the eastern region. The company manufactures and supplies TMT rebar, billets and sponge iron.

Expanding footprint

The company, which has an established presence in the eastern and north-eastern regions, is looking to expand its retail footprint in central, south and west India. It has a network of over 6,000 distributors, dealers, and retailers in the markets it currently operates in.

The company has developed a highly efficient network of third-party logistics service providers to take its products to every corner of the country. It also plans to appoint a team of around 500 distributors, dealers, and retailers across each of these States to ensure easy accessibility of its brand to home builders at reasonable prices. Retail accounts for around 50 per cent of the company’s total turnover of Rs.3,000 crore. The remaining (50 per cent) comes from B2B.

 

 

Real estate platform iProp.Money to help developers raise funds, targets $200 million transactions in first quarter

To help real estate developer in raising fund, tech startup iProp.Money, an integrated platform for real estate transactions, is bringing in verified investors on the platform to help the industry in raising capital at the most affordable rates. The company aims to achieve $200 million worth of transactions in the first quarter of the launch.

The company has addressed the challenges faced in signing legal agreements with e-signature and e-stamping.

Customers earlier used to be clueless for days after handing over the cheque, the company’s platform will ease in implementing and addressing these challenges in just three days time. The customer will get his documents, brokers will get their commissions and the builders will get their share. The platform will help the real-estate developers, brokers, consultants and investors by amalgamating all the important services under one roof digitally that the real-estate industry is struggling to manage. The digital platform has been launched with 6500 brokers. iProp.Money will help builders expand their reach to the remotest parts of the country. iProp.Money provides a banking technology platform that enables real estate owners, brokers and investors to change how they experience and make real estate deals. Channel partners and Investors use the platform to gain transparency into brokerage, leverage data insights and monetize space to create incremental yields. The platform will offer virtual accounts, partner banking, and customer on boarding for builders and three way communication channels between builder - broker – customers which is expected to bring transparency in the real-estate transactions. It will also help in small ticket profile funding through bnpl for brokers, freelancers and customers.

 

 

Edelweiss invests Rs.355 crore in Hubtown’s two residential projects in Mumbai

Edelweiss Group has invested Rs.355 crore in realty developer ’s two under-construction residential tasks in Mumbai by means of its non-banking finance firm ECL Finance and two funds–Edelweiss India Real Estate Fund and EREF Onshore Fund– managed by the group.

Of the funds, ECL Finance invested Rs.205 crore within the developer’s challenge Hubtown Seasons in Chembur suburb of Mumbai and infused Rs.150 crore in Hubtown Harmony, a premium growth at Matunga in central Mumbai.

Both projects are under construction, with all approvals in place and the investment from Edelweiss shall be utilized towards ensuring faster completion of both projects, aside from partly refinancing of the existing lenders.

Hubtown Seasons is unfold over a 10-acre land parcel and is a public-private partnership (PPP) challenge with the federal government of Maharashtra. The sale potential within the first section funded by Edelweiss is round 3.5 lakh sq ft of space, and the federal government obligations in respect of the primary section are accomplished, and the main target will now be on finishing the sale space inside the subsequent 2 years.

The Matunga challenge is unfold over an acre close to King’s Circle, and is a redevelopment challenge, whereby the redevelopment element is accomplished and handed over, and now the corporate is focussing on guaranteeing supply of the sale element of 1 lakh sq ft inside 2 years.

About 20% of the challenge in Matunga has been offered, whereas the developer has already achieved 30% gross sales on the Chembur challenge.

Earlier this 12 months, world different funding administration agency Oaktree Capital Management invested Rs 425 crores in Hubtown’s sea-facing luxurious residential growth 25 South unfold over 5.Three acres of land in central Mumbai’s Prabhadevi locality.

Part of the funds raised by means of this transaction is being utilised to finish the challenge and partly to retire the prevailing debt facility of Indiabulls Housing Finance.

The current uptick in housing gross sales and anticipated sustained conversion of housing demand has prompted a revised outlook for the sector’s liquidity situation.

Financial establishments have began reviewing tasks for investments, whereas actual property builders have additionally began refinancing their present high-cost debt with comparatively lower-cost loans within the backdrop of discount in rates of interest.

According to ICICI Securities, actual property builders are prone to publish file gross sales reserving numbers within the second half of the monetary 12 months 2021-22 led by new launches because the momentum of sturdy response from homebuyers witnessed to this point is predicted to be continued through the festive October-December quarter.

The starting of the festive season, the waning of the second Covid wave, file low mortgage charges, robust hiring and wage development within the info know-how, IT-enabled providers sector has led to builders preponing many launches to August-September, the report stated.

 

 

Savills India facilitates over 2 acres of prime land deal for Inspira Builders in Electronic City, Bengaluru

International Property consultants Savills India has facilitated over two acres of prime land deal with necessary approvals for Inspira Builders in Electronic City in Bengaluru, Karnataka, to develop a residential township spanning over two lakh sq ft with an estimated valuation of Rs.150 crore.

The land, to be developed by Sycon Construction earlier, is now taken over by Inspira Builders to build a premium residential project.




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