Latest news with #PrestigeEstatesProjects
Business Standard
14 hours ago
- Business
- Business Standard
Prestige Estates & Arihant Group jointly acquire land in Chennai from Rane Madras
Prestige Estates Projects said that it has entered into an agreement with Arihant Group for jointly acquiring an agreement to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai from Rane Madras. The acquisition will be undertaken through their joint venture entity, Canopy Living LLP. The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated gross development value (GDV) of over Rs 1,600 crore. Located in one of Chennais most prominent and well-connected neighbourhoods, the site benefits from excellent access to IT corridors, social infrastructure, and thriving residential communities. Irfan Razack, chairman and managing director of Prestige Group, said: "Chennai continues to be an integral part of our national expansion strategy, and this upcoming acquisition in Velachery marks another step in our journey to deliver landmark residential developments. Our partnership with Arihant in the region reflects a shared vision to develop high-quality, thoughtfully designed communities that resonate with evolving urban lifestyles." Prestige Group is one of Indias most respected and diversified real estate developers, with a legacy of over three decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. The Group has delivered 302 projects spanning 193 million square feet and currently has a pipeline of 130 projects across 203 million square feet. The scrip fell 1.90% to end at Rs 1666.70 on the BSE on Friday.
Business Standard
6 days ago
- Business
- Business Standard
Nitco gains on securing Rs 261 crore order from Prestige Estates Projects
Nitco jumped 2.65% to Rs 133.60 after the company announced that it has received a fresh Letter of Intent (LoI) from Prestige Estates Projects for an additional tile supply order worth approximately Rs 45 crore. This new order comes on top of previous contracts totaling Rs 216 crore, bringing the cumulative value of orders from Prestige to around Rs 261 crore. These orders span across tiles, marble, and mosaic segments. The company expects to execute the full order over the next twelve months. Nitco emphasized that this development underlines a strong business environment and reinforces the trust that prominent real estate developers like Prestige Estates place in its execution capabilities. Nitco is a leading tiles manufacturer. Its collection includes ceramic, vitrified, mosaic, natural stone tiles, and high-quality marble. The company reported net loss of Rs 2.85 crore in Q4 March 2025 as against net loss of Rs 54.94 crore in Q4 March 2024. Net sales rose 30.37% YoY to Rs 93.19 crore in Q4 March 2025.
Business Standard
6 days ago
- Business
- Business Standard
Nitco secures LoI for additional order of Rs 45 cr
From Prestige Estates ProjectsNitco has received a letter of intent from Prestige Estates Projects for an additional order of tiles worth Rs 45 crore. With this, total orders receives from Prestige Estates Projects stands at approximately Rs 261 crore to be executed potentially over the period of twelve months. Powered by Capital Market - Live News
Time of India
08-06-2025
- Business
- Time of India
Major 26 listed realty firms sell ₹1.62 lakh crore properties in FY25
NEW DELHI: India's 26 major listed real estate firms sold properties valuing Rs 1.62 lakh crore last fiscal, with Godrej Properties becoming largest player clocking pre-sales of nearly Rs 30,000 crore. DLF Ltd, the biggest real estate firm in terms of market capitalisation, is at the second position with record sale bookings of over Rs 21,000 crore during 2024-25, followed by Macrotech Developers (Lodha Group), Prestige Estates Projects and Signature Global . According to the data compiled from investors presentations and regulatory filings, the 26 major listed real estate companies reported a combined sales bookings or pre-sales of Rs 1,61,722 crore in the last fiscal year, a more than 20 per cent increase from 2023-24. Bulk of pre-sales (sales bookings) came from residential segment especially luxury homes, with small contribution from commercial properties. In terms of annual sales bookings, Godrej Properties emerged as the largest listed player during last fiscal with pre-sales of Rs 29,444 crore. Its pre-sales stood at Rs 22,527 crore during 2023-24. DLF's sales bookings rose to Rs 21,223 crore from Rs 14,778 crore driven by strong sales in its ultra luxury housing project The Dahlias in Gurugram. Mumbai-based Macrotech Developers Ltd reported sale bookings of Rs 17,630 crore in FY25 as against Rs 14,520 crore in the preceding year. Bengaluru-based Prestige Estates Projects clocked sale bookings of Rs 17,023 crore last fiscal as against Rs 21,040 crore in 2023-24. Delhi-NCR based Signature Global achieved sales bookings of Rs 10,290 crore as against Rs 7,270 crore. There were many real estate firms which clocked annual sales between Rs 5,000 crore and Rs 10,000 crore. Mumbai-based Aditya Birla Real Estate sold properties worth Rs 8,087 crore last fiscal, a sharp jump from Rs 3,985 crore in the preceding year. Bengaluru-based Brigade Enterprises reported a sales bookings of Rs 7,847 crore as against Rs 6,013 crore. Sobha Ltd's pre-sales fell to Rs 6,277 crore from Rs 6,644 crore. Delhi-NCR-based Max Estates sold properties worth Rs 5,321 crore last fiscal as against Rs 1,844 crore in the preceding year. Mumbai-based Oberoi Realty sold properties worth Rs 5,281 crore in FY25. Puravankara Ltd sales bookings declined to Rs 5,006 crore from Rs 5,914 crore. In below Rs 5,000 crore annual pre-sales category, Delhi-based TARC Ltd sold properties worth Rs 3,722 crore as against Rs 1,612 crore in FY24. Mumbai-based Keystone Realtors (Rustomjee) sale bookings grew to Rs 3,028 crore from Rs 2,266 crore. Mahindra Lifespace Developers' pre-sales rose to Rs 2,804 crore from Rs 2,328 crore. Pune based Kolte-Patil Developers Ltd sales fell marginally to Rs 2,791 crore from Rs 2,822 crore. Sales bookings of Sunteck Realty went up to Rs 2,531 crore from Rs 1,915 crore. Raymond Ltd sold properties worth Rs 2,310 crore last fiscal as against Rs 2,249 crore in the preceding year. Bengaluru-based Shriram Properties sales bookings fell to Rs 2,288 crore from Rs 2,362 crore. Embassy Developments clocked sales of Rs 2,031 crore last fiscal as against Rs 1,838 crore in 2023-24. There were many players that reported annual pre-sales below Rs 2,000 crore. Delhi-based Ashiana Housing Ltd reported sales bookings of Rs 1,936.75 crore during the last fiscal as against Rs 1,798.22 crore in the preceding year. Ahmedabad-based Arvind Smartspaces sold properties worth Rs 1,271 crore FY25 as against Rs 1,107 crore in the preceding year. Ajmera Realty & Infrastructure Ltd sales bookings grew to Rs 1,080 crore from Rs 1,017 crore. Arihant SuperstructuresLtd sales bookings stood at Rs 888.7 crore as against Rs 970.6 crore. Arkade Developers' sales bookings grew to Rs 773 crore from Rs 645 crore. Suraj Estate Developers sold properties worth Rs 501 crore in FY25 as against Rs 483 crore in the preceding year. Lucknow-based Eldeco Housing & Industries Ltd clocked pre-sales of Rs 337.5 crore last fiscal as against Rs 388.7 crore in the 2023-24 financial year. Sale bookings data of many listed players was not available on the stock exchanges. Market experts attributed the strong performance of listed players to a gradual shift in consumers preference towards branded and reputed players which have better track record of executing real estate projects. With lakhs of homebuyers still stuck in stalled housing projects, the prospective customers do not want to take risk on their investments.
Time of India
08-06-2025
- Business
- Time of India
Real estate market: Major listed firms sell over Rs 1 lakh crore properties; Godrej leads
India's top listed real estate firms recorded a blockbuster performance last fiscal, with property sales surging past Rs 1.62 lakh crore, marking a jump of over 20% from the previous year. Leading the charge was Godrej Properties, which emerged as the biggest seller among 26 major listed players, clocking pre-sales worth Rs 29,444 crore. The data, compiled from investor presentations and regulatory filings, shows that the growth was largely powered by residential projects, particularly in the luxury segment, while commercial sales made up a smaller share. DLF Ltd, the country's largest developer by market capitalisation, secured the second spot with Rs 21,223 crore in bookings, up from Rs 14,778 crore in the previous fiscal. The company's standout performer was its ultra-luxury project The Camellias in Gurugram, which saw strong buyer interest. Mumbai-based Macrotech Developers, known for its Lodha brand, followed close behind with Rs 17,630 crore in bookings, a rise from Rs 14,520 crore a year ago. Prestige Estates Projects and Signature Global rounded out the top five, with the latter nearly touching Rs 10,300 crore. The rest of the pack saw varied performance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Aditya Birla Real Estate saw sales double to Rs 8,087 crore, while Brigade Enterprises and Max Estates also registered solid growth. On the other hand, Sobha Ltd, Puravankara Ltd, and Prestige Estates Projects reported slight declines in sales. Among developers with below Rs 5,000 crore bookings, Delhi-based TARC Ltd, Mahindra Lifespace Developers, and Mumbai's Keystone Realtors (Rustomjee) showed healthy year-on-year gains. Even smaller players such as Arkade Developers, Suraj Estate Developers, and Lucknow-based Eldeco Housing posted modest but consistent sales, signalling broad-based resilience in the sector. Market experts credited the strong performance of listed firms to the shift in consumer preference towards branded and reputed players who have better track record of executing real estate projects. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
