Private equity (PE) investments in Indian real estate soared to USD 3 billion in the first half of 2024, marking a 15% increase from USD 2.6 billion in H1 2023, according to Knight Frank India. The warehousing sector led with 52% of total investments, reflecting a shift from the traditional office sector dominance. Mumbai and Bengaluru were key beneficiaries, attracting substantial investments, particularly in warehousing and residential properties. Economic recovery, favorable policies, and infrastructure development are driving this growth, though challenges like regulatory hurdles remain.Read more

In June, the Kolkata Metropolitan Area saw a record 25% increase in residential property registrations compared to the previous year. This surge occurred while a stamp duty discount was available. The state government will now end these benefits, including a 2% stamp duty reduction and a 10% circle rate cut, on July 1, 2024. Since these incentives began in July 2021, approximately 140,000 homes were registered. Despite the rebate ending, Knight Frank anticipates continued market growth due to strong demand. The company also reported new trends in the important zones, such as the South and North, within the city.Read more

The Noida Authority plans to allocate land expected to generate INR 3,795 crore in revenue. Despite only meeting 23% of last year's land allotment target, they have set this ambitious goal for the coming year. The largest allocation, 3.3 lakh sqm, is for institutional use, focusing on IT/ITES parks, data centres, and educational facilities. Industrial plots will receive 1 lakh sqm, while residential, commercial, and group housing plots are set at 67,500 sqm, 35,000 sqm, and 13,800 sqm, respectively. The Authority has also raised the allotment rates by 6% across most of the categories.Read more

DLF Limited, India's largest real estate firm, has reported a 23% year-over-year increase in its net profit for the quarter ended June 30, 2024. The company witnessed a strong sales performance, with new sales bookings of INR 6,404 crore, representing a YoY growth of 214%. DLF's consolidated revenue also surged by nearly 14% YoY, reaching INR 1,729.82 crore. The company's rental business continued its steady performance, with the consolidated revenue of DLF Cyber City Developers Limited (DCCDL) reaching INR 1,553 crore, a 10% year-over-year growth.Read more

PNB Housing Finance reported a 25% increase in net profit to INR 433 crore for Q1 June 2024, up from INR 347 crore the previous year. Total income rose to INR 1,832 crore, with interest income at INR 1,739 crore. Net interest income grew 4% to INR 651 crore, though the net interest margin declined to 3.65% from 3.86%. The gross NPA reduced to 1.3%, and the net NPA fell to 0.92%. Total disbursements increased 19% to INR 4,398 crore, with retail disbursements making up 99%. The company continues to demonstrate strong financial performance and strategic growth.Read more

Piramal Capital & Housing Finance is set to issue its first dollar bonds, aiming to raise up to USD 500 million. The initial price guidance for these Regulation-S bonds is 8.25%, with the final coupon rate expected to be finalised this week. The bonds will have a maturity of three and a half years. The funds raised will be used in accordance with the Reserve Bank of India's external commercial borrowing guidelines and the company's sustainable finance framework. Barclays, Deutsche Bank, and Standard Chartered are joint global coordinators, while Axis Bank, Citigroup, and Emirates NBD Bank are joint book-runners.Read more

The BigBloc Construction's board approved a 1:1 bonus share issue in a July 19 meeting, granting one bonus equity share for every existing share, pending shareholder approval at the August 29 AGM. The move, utilising INR 28.31 crore from free reserves, aims to reward shareholders, enhance liquidity, and expand the shareholder base, increasing paid-up share capital to INR 28.31 crore. Additionally, the board declared a final 20% dividend (40 paise per share), with the Promoter Group shareholders waiving their dividend. The shares rose 2.08% to INR 271.75 on the BSE, peaking at INR 284.90.Read more

The Kerala government has announced significant reductions in building permit fees, effective August 1. Houses between 81-300 square meters will see fee cuts of at least 50%, with some areas experiencing up to 60% reductions. This follows last year's exemption for buildings up to 80 square meters. The new rates vary by local administrative zone, with specific reductions outlined for village panchayats, municipalities, and corporations. Despite already having India's lowest permit fees, the government implemented these cuts in response to public demand. Additionally, a 5% rebate will be offered on property tax if paid in full by April 30, marking Kerala's first such tax exemption. These measures aim to make construction more affordable and encourage timely tax payments.Read more

Pune's property market is thriving, with a 60% increase in property registrations in June 2024 compared to June 2023, amounting to over 14,230 properties, as reported by Knight Frank India. Stamp duty collections also rose by 90% year-on-year. The first half of 2024 saw 97,294 property registrations, a 44% rise from the previous year. Factors driving this growth include affordability in the mid-range segment and a preference for larger apartments. Central Pune remains the main hub, but areas like West Pune are emerging as new hotspots. The market shows a strong positive trend for the rest of the year.Read more

Home First Finance Company announced a 27% increase in Q1 profits, rising to INR 88 crore from INR 69 crore last year. The company maintained a stable NPA ratio at 1.7%, showcasing strong risk management. Assets under management grew by 35% year-on-year to INR 10,478 crore, driven by a 30% rise in loan disbursements. Expanding into four new districts and planning 20-25 new branches, the company aims to enhance housing finance access. Emphasizing digital solutions, Home First Finance is set for growth amid strong demand for housing finance and supportive government initiatives.Read more