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Business Standard
5 days ago
- Business
- Business Standard
Mumbai realtor Lodha Developers plans to enter Delhi with ₹1,900 cr project
Lodha Developers Ltd., India's number two realtor by market value, is planning a residential project in and around New Delhi next year, in signs of an intensifying turf war as it enters industry leader DLF Ltd.'s stronghold. The Mumbai-based developer is considering rolling out a project with an investment of as much as ₹1,900 crore ($220 million) in the year starting April 2026, Prashant Bindal, the firm's chief sales officer said in an interview. The financial details are still being worked on and clarity will emerge closer to the actual launch, he added. The move shows a push among India's largest real estate firms to seek a national footprint as they tap into the growing demand for premium and luxury housing. DLF on Friday said that it has sold all apartments, for more than 23 billion rupees ($266 million), in the first phase of their maiden Mumbai project. In May, Prestige Estates Projects Ltd. completed three projects totaling 2.8 million square feet in Mumbai, marking the Bengaluru-based realtor's entry into the country's financial capital. 'Extraordinary growth is only achievable through expansion beyond their traditional local markets,' said Gulam Zia, senior executive director, Knight Frank India. 'The pressure from stakeholders to scale is prompting these companies to explore new geographies.' Homes priced above 10 million rupees made up for about half of all residential sales in India in the first half of this year, according to a report by consultant Knight Frank. Delhi National Capital Region led the race with 16,416 units sold, closely followed by Mumbai at 15,270 units. 'Intensifying Competition' The expansion into newer geographies 'is also intensifying competition for prime land parcels, skilled talent, and institutional capital across new geographies,' according to Arvind Nandan, managing director of research and consulting, Savills India. The real test for this cross-country expansion, however, will come when the market cycle turns, Zia said. 'Even the largest real estate developers have had to retreat from wider markets and refocus on their core geographies during downturns,' he said. The company has lined up about seven to eight launches this year across Mumbai, Pune and Bangalore, according to Bindal. 'We enter a city with the confidence that in next three years we will be in the top three players. That's our approach,' said Bindal.
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Business Standard
5 days ago
- Business
- Business Standard
Realtor Lodha Developers plans to enter Delhi with ₹1,900 crore project
Lodha Developers Ltd., India's number two realtor by market value, is planning a residential project in and around New Delhi next year, in signs of an intensifying turf war as it enters industry leader DLF Ltd.'s stronghold. The Mumbai-based developer is considering rolling out a project with an investment of as much as ₹1,900 crore ($220 million) in the year starting April 2026, Prashant Bindal, the firm's chief sales officer said in an interview. The financial details are still being worked on and clarity will emerge closer to the actual launch, he added. The move shows a push among India's largest real estate firms to seek a national footprint as they tap into the growing demand for premium and luxury housing. DLF on Friday said that it has sold all apartments, for more than 23 billion rupees ($266 million), in the first phase of their maiden Mumbai project. In May, Prestige Estates Projects Ltd. completed three projects totaling 2.8 million square feet in Mumbai, marking the Bengaluru-based realtor's entry into the country's financial capital. 'Extraordinary growth is only achievable through expansion beyond their traditional local markets,' said Gulam Zia, senior executive director, Knight Frank India. 'The pressure from stakeholders to scale is prompting these companies to explore new geographies.' Homes priced above 10 million rupees made up for about half of all residential sales in India in the first half of this year, according to a report by consultant Knight Frank. Delhi National Capital Region led the race with 16,416 units sold, closely followed by Mumbai at 15,270 units. 'Intensifying Competition' The expansion into newer geographies 'is also intensifying competition for prime land parcels, skilled talent, and institutional capital across new geographies,' according to Arvind Nandan, managing director of research and consulting, Savills India. The real test for this cross-country expansion, however, will come when the market cycle turns, Zia said. 'Even the largest real estate developers have had to retreat from wider markets and refocus on their core geographies during downturns,' he said. The company has lined up about seven to eight launches this year across Mumbai, Pune and Bangalore, according to Bindal. 'We enter a city with the confidence that in next three years we will be in the top three players. That's our approach,' said Bindal.
Economic Times
21-07-2025
- Business
- Economic Times
Stock market update: Nifty Realty index advances 0.02% in an upbeat market
NEW DELHI: The Nifty Realty index traded positive around 11:13AM(IST)on Monday in an upbeat market. ADVERTISEMENT Raymond Ltd.(up 2.37 per cent), Godrej Properties Ltd.(up 0.72 per cent), DLF Ltd.(up 0.45 per cent) and Phoenix Mills Ltd.(up 0.14 per cent) were among the top gainers. Brigade Enterprises Ltd.(down 1.22 per cent), Sobha Ltd.(down 0.87 per cent), Lodha Developers Ltd.(down 0.43 per cent), Anant Raj Ltd.(down 0.25 per cent) and Prestige Estates Projects Ltd.(down 0.24 per cent) were the top losers on the index. The Nifty Realty index was up 0.02 per cent at 1000.1 at the time of writing this report. Benchmark NSE Nifty50 index was up 101.6 points at 25070.0, while the BSE Sensex was up 388.23 points at 82145.96. Among the 50 stocks in the Nifty index, 26 were trading in the green, while 24 were in the red. ADVERTISEMENT Shares of Vodafone Idea, YES Bank, JP Power, PC Jeweller and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Bluspring Enterprises Ltd., Gallantt Metal, Paradeep Phosphates, Digitide Solutions Ltd. and Soma Textiles hit their fresh 52-week highs in today's trade, while Reliance Comm, LCC Infotech, Smartworks Coworking, Supreme Engineering and Marshall Machines hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-07-2025
- Business
- Time of India
Stock market update: Nifty Realty index advances 0.02% in an upbeat market
NEW DELHI: The Nifty Realty index traded positive around 11:13AM(IST)on Monday in an upbeat market. Raymond Ltd.(up 2.37 per cent), Godrej Properties Ltd .(up 0.72 per cent), DLF Ltd.(up 0.45 per cent) and Phoenix Mills Ltd .(up 0.14 per cent) were among the top gainers. Explore courses from Top Institutes in Select a Course Category Degree Data Science CXO others Project Management Cybersecurity healthcare Public Policy Operations Management Finance MCA Healthcare Design Thinking Leadership MBA Data Science PGDM Management Artificial Intelligence Data Analytics Others Digital Marketing Product Management Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details Brigade Enterprises Ltd .(down 1.22 per cent), Sobha Ltd.(down 0.87 per cent), Lodha Developers Ltd.(down 0.43 per cent), Anant Raj Ltd .(down 0.25 per cent) and Prestige Estates Projects Ltd .(down 0.24 per cent) were the top losers on the index. The Nifty Realty index was up 0.02 per cent at 1000.1 at the time of writing this report. Benchmark NSE Nifty50 index was up 101.6 points at 25070.0, while the BSE Sensex was up 388.23 points at 82145.96. Live Events Among the 50 stocks in the Nifty index, 26 were trading in the green, while 24 were in the red. Shares of Vodafone Idea, YES Bank, JP Power, PC Jeweller and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Bluspring Enterprises Ltd., Gallantt Metal , Paradeep Phosphates , Digitide Solutions Ltd. and Soma Textiles hit their fresh 52-week highs in today's trade, while Reliance Comm , LCC Infotech, Smartworks Coworking , Supreme Engineering and Marshall Machines hit fresh 52-week lows in trade.
The Hindu
17-07-2025
- Business
- The Hindu
DLF forays into Mumbai with premium housing project
DLF Ltd., India's largest real estate company in terms of market cap, on Thursday announced its entry into Mumbai with the unveiling of a residential real estate project in the premium segment in Andheri west, a Mumbai suburb. Called The Westpark, the project spanning 5.18 acres is part of a larger 10-acre master plan and will come through a joint venture with a local partner. DLF holds 51% interest in the development. In this project, apartments are being offered at an average price of ₹42,500 per sq. ft. 'We are getting the DLF legacy of lifestyle and amenities into Mumbai. We will keep sustainability at the core,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. 'We are taking Mumbai very seriously. We want to take the project off the ground first before starting any new project. Mumbai and Delhi will be two of our most important markets,' he said. In 2008, DLF had acquired NTC land in Mumbai through an auction process but did not construct any project. Later it sold the land to Lodha Group at a premium. Now, in its Mumbai foray, DLF is targeting businessmen, professionals and people working in the film industry. Over one year, the company is expecting to have sales worth ₹5,000 crore. In the first phase, the company offers four towers, each rising 37 storeys offering a total of 416 residences. The project is coming up on a land parcel that once housed slum dwellers. The project, to be completed in four years, will offer a mix of 3 and 4 BHK residences ranging from 1,125 to 2,500 sq. ft., along with a limited number of exclusive penthouses. Mr. Ohri said the project would be known for its landscaped gardens and various amenities it would offer. 'We will make a difference in this locality and other developers will have to match our standards,' he said.
