DLF reported a 122.1% growth in net profit for Q2 FY25, posting INR 1,381.22 crore compared to INR 621.89 crore last year. The company's income rose by 47.7% to INR 2,180.83 crore. Despite delays in product approvals, sales bookings reached INR 692 crore, with H1 FY25 bookings at INR 7,094 crore. DLF also declared a dividend of INR 5 per share, totaling INR 1,237.66 crore. Operating cash surplus stood at INR 1,211 crore, with gross margins at 45%. DLF Cyber City Developers recorded INR 1,653 crore in revenue.Read more

Hyundai India's shares took a notable hit, dropping by 7.2% on debut due to retail investors' concerns over high valuations. Amid this challenging market, Swiggy-backed by SoftBank and Prosus-has reduced its IPO valuation to USD 11.3 billion, down 25% from an initial USD 15 billion. This decision, guided by investor feedback, prioritizes IPO success amid global uncertainties, including the upcoming US presidential election. Swiggy's move comes as India's IPO market remains strong, with 270 companies raising USD 12.57 billion this year. Notably, BlackRock and CPPIB plan to invest in Swiggy's USD 1.4 billion IPO, aiming to secure its position in India's competitive market.Read more

Can Fin Homes (CFHL), the housing finance subsidiary of Canara Bank, recorded a 33.79% rise in consolidated net profit for the quarter ending September 30, 2024, reaching INR 211.48 crore. Its net total income rose by 10.52% to INR 962.69 crore. The company's loan portfolio grew to INR 36,591 crore, driven by strong demand in housing loans, and its loan disbursements increased by 18% over the previous year. CFHL maintained a solid financial position with a debt-equity ratio of 7.19, low non-performing assets, and a liquidity coverage ratio of 166.06%, well above regulatory requirements.Read more

In the first nine months of 2024, India's land sale volume surged by 65%, hitting 1,700 acres in six major cities: Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune. According to CBRE South Asia, more than 100 land deals were completed, up from 60 in the same period in 2023. Delhi-NCR topped the activity, accounting for 32% of the trades, followed by Bengaluru, Mumbai, and Chennai. The increase in land transactions indicates increased investor confidence in India's real estate market, which is driven by demand in residential, office, and developing sectors such as data centres, making the country a major market for long-term investments.Read more

India's data centre (DC) operational capacity is projected to more than double to 2,000-2,100 MW by FY2027, from 950 MW in FY2024, driven by the digital boom and data localisation. This expansion will require investments of INR 50,000-55,000 crore. Key players like NTT, STT, and CtrlS currently hold 85% of the capacity, but new entrants are investing significantly. Anupama Reddy of ICRA attributes the growth to rising data consumption, AI, and supportive policies. Hyperscalers, along with BFSI and IT/ITES sectors, are major drivers. Mumbai leads DC capacity due to its robust infrastructure, and operators are expected to shift towards green energy, aiming for 20-25% by 2028.Read more

Godrej Properties reported net-profit of INR 333.79 crore in Q2-FY25, a significant rise from INR 72.54 crore in Q2-FY24. Total income grew 122.53% year-over-year to INR 1,346.54 crore. Booking-value for Q2 increased 3% YoY to INR 5,198 crore, with a record H1 booking-value of INR 13,835 crore. Strong demand was driven by projects in NCR, Bengaluru, and MMR, contributing to a 68% rise in collections. The company added 10 new-projects in FY25 with a potential booking value of INR 17,450 crore and delivered 6.6 million sq. ft. across 3 cities in Q2.Read more

TARC Limited has raised INR 1,000 crore from a consortium of domestic banks, led by Kotak Mahindra Bank, to refinance existing debt and enhance working capital. The funding, secured at an interest rate of 12.75%, will improve cash flows and financial flexibility for growth. The refinancing is tied to the cash flows of TARC Kailasa and TARC Tripundra projects. TARC is investing INR 1,200 crore in TARC Kailasa, a luxury residential development in Kirti Nagar, which aims to generate INR 4,000 crore in revenue and address the demand for gated condominiums in central Delhi.Read more

Bajaj Housing Finance Limited (BHFL) announced a 20.95% rise in its net consolidated profit for the quarter ending September 30, 2024, amounting to INR 545.60 crore, compared to INR 451.11 crore from the previous year. The company's total income for Q2 FY25 reached INR 2,410.24 crore, reflecting a growth of 26.09%. BHFL also launched an initial public offering (IPO) of 93,71,42,856 equity shares to enhance its capital. With assets under management increasing by 26% to INR 1,02,569 crore, and net interest income rising 13% to INR 713 crore, BHFL demonstrates solid financial performance and effective risk management strategies.Read more

In 2024, India's office rental market rebounded, with average rents exceeding pre-pandemic levels. Core micro markets are witnessing remarkable growth, with increases of up to 25%. Following a sharp V-shaped recovery after the pandemic slowdown, leasing activity returned to pre-pandemic rates by 2022. Major cities like Hyderabad and Pune achieved rental recovery by 2022, while Mumbai and Delhi NCR completed their cycles in 2024. High demand for Grade A office spaces in well-connected locations continues to drive rental growth, resulting in a cumulative demand of 264 million sq ft since 2019.Read more

The Urban Development Department of Uttar Pradesh announced a 33% revenue increase in the first half of the fiscal year, with collections rising from INR 1,054 crore to INR 1,401 crore. Factors contributing to this growth include the expansion of municipal boundaries and a digital transition in tax collection. The Lucknow Municipal Corporation led with a 43% increase, while Aligarh, Mathura, and Ayodhya posted remarkable growth rates of 183%, 139%, and 88%, respectively. Principal Secretary Amrit Abhijat highlighted ongoing efforts to achieve a total revenue increase of 50% by year-end.Read more