Microsoft buys land in Hyderabad for Rs 267 crore
The property was purchased from the land aggregator, Sai Balaji Developers, located in Ranga Reddy district, as per the document shared by Propstack, a data analytics firm.
The property was purchased from the land aggregator, Sai Balaji Developers, located in Ranga Reddy district, as per the document shared by Propstack, a data analytics firm.
The said land is leased to Maharashtra Housing and Area Development Authority (MHADA) and currently, there are seven buildings with a total of 504 flats.
During 2023-24 fiscal year, Arvind SmartSpaces' net profit increased to Rs 41.57 crore from Rs 25.60 crore in the preceding year.
The total cost of the project is expected to be Rs 1,211 crore of which Rs 497 crore has been invested by the promoter, according to documents accessed through CRE Matrix, a real estate data analytics firm.
Officials said the Authority’s efforts in recovering the amounts have been hit hard by various factors, such as ongoing insolvency proceedings at NCLT and stay orders secured by some of the developers from the Allahabad high court.
HDFC Capital had invested Rs 229 crore in a residential apartment project located in Whitefield, Bangalore. The Investment was against development of 1mn sf of residential apartments in the project named “Pursuit of a Radical Rhapsody”.
Godrej Properties Executive Chairperson Pirojsha Godrej said the company has been the development manager for the real estate projects and the same arrangement would continue.
Consolidated net revenue in the quarter under review was Rs 2,688 crore as against Rs 2,192 crore in the year-ago period, up 23 per cent, it added.
Godrej Properties' net total consolidated income stood at Rs 1,914.82 crore in Q4 FY24, a growth of 4.13 per cent from Rs 1,838.82 crore it recorded in the similar quarter last year.
Pirojsha Godrej's strategic leadership at Godrej Properties during the global financial crisis led to innovative approaches like joint developments and a capital-lite model. His focus on efficiency and immediate project launches propels the company's growth.
The real estate sector is growing across segments said property analysts. Top seven property markets in the country registered total sales of 74,486 apartments during the quarter.