Nivara Home Finance secured USD 10 million from Baring Private Equity India to fuel its expansion in affordable housing finance. Founded in 2015, Nivara targets micro-entrepreneurs and salaried individuals with housing loans ranging from INR 5 lakh to INR 7.5 lakh, focusing on underserved markets. With a presence in five states and 63 branches, the company boasts INR 500 crore in assets under management and a low GNPA of 0.58%. Co-founded by CV Rao, Sunil Rohokale, and Monik Koticha, Nivara initially self-funded with INR 100 crore. The deal, facilitated by EY, highlights Baring Private Equity India's confidence in Nivara's asset quality and growth potential.Read more

Warburg Pincus and Bain Capital are leading the race to acquire Shriram Housing Finance Ltd (SHFL), valued at INR 6,500 crore. However, bids from both private equity giants reportedly fall below expectations, ranging from INR 5,300-5,500 crore. This sale represents Shriram Finance's strategic move to leverage SHFL's growth in affordable housing. With the housing finance sector witnessing positive trends and SHFL's potential for further expansion, investors are eyeing the company's scalable platform. The final outcome hinges on negotiations that balance price and growth strategy aligned with SHFL's strengths in affordable housing.Read more

Flexible workspace providers like Table Space, Bhive, Indiqube, and EFC are adapting strategies to acquire properties in India instead of leasing, responding to increased demand post-pandemic. Forecasts project Indian flexible office market growth from 55 to 100-140 million square feet by 2030. Table Space recently raised USD 325 million to increase its operational capacity and acquire assets. Similarly, EFC aims to increase operational seats from 32,000 to 92,000 by 2026. However, experts caution that asset acquisition may only be viable for select players due to the high investment requirements. Additionally, specific markets limit real estate acquisition in India's flexible workspace sector.Read more

PNT Reporter

SWAMIH Fund has invested INR 300 crore in Hubtown's Rising City project in Mumbai, with the goal of speeding up completion and providing assistance to over 550 homebuyers who are awaiting possession. Rising City, located on the Eastern Express Highway, consists of six buildings with over 700 units. Despite initial delays owing to regulatory problems, the project acquired all essential licences by 2023. Hubtown, the sole developer presently, is dedicated to ensuring prompt delivery. The investment demonstrates SWAMIH Funds commitment to revitalising stalled real estate projects, tackling difficulties in the affordable housing sector, and supporting growth in Mumbai's thriving property market.Read more

PNT Reporter

Prestige Estate Projects, a leading Indian real estate company, witnessed a remarkable surge in its stock price on Monday, soaring by nearly 9% and reaching a high of INR 21,272 per share on the Bombay Stock Exchange. This surge follows the announcement of significant funding received for future projects, including a INR 2,001 crore loan from Abu Dhabi Investment Authority (ADIA) and Kotak Alternative Investment Fund. The funds, totalling INR 18,000 crore, will fuel the development of new projects across four major Indian cities, with Prestige contributing 30-40% of the investment. Additionally, Prestige has expanded its ownership in Prestige Realty Ventures and streamlined its portfolio by transferring equity stakes. With projects in 13 major cities and a robust pipeline, Prestige Estate Projects solidifies its position as a key player in Indian real estate.Read more

PNT Reporter

Embassy Office Parks, India's largest office space company (REIT), aims to raise up to USD 400 million amid record-high demand for office rentals. With investment banks Morgan Stanley and Kotak Mahindra Bank onboard, the deal targets completion by June 2024. Managing 45 million square feet across major cities like Bengaluru and Mumbai, Embassy plans to use funds to pay debts and expand into Chennai. Despite global trends favouring remote work, India's robust office space market thrives, driven by growing businesses. With solid financials and Fortune 500 tenants, Embassy's move reflects investor confidence in India's real estate potential.Read more

PNT Reporter

Major developers Prateek Realtors (Delhi) and Suruchi Properties (Bengaluru) have secured substantial funding from the Edelweiss Special Situations Fund, totaling INR 8,775 crore, highlighting growing private investment in real estate. Edelweiss focused on completed projects, providing stability for investors despite high-interest rates of 18-20%. While this trend addresses financial challenges, it also underscores sectoral difficulties, as reflected in developers' credit ratings. While beneficial for project completion, high-interest financing may affect property prices, presenting both opportunities and challenges for homebuyers and developers alike. Strategic fund utilization will be critical for success in this evolving landscape.Read more

PNT Reporter

In March 2024, Mumbai saw a surge in property registrations, with over 14,411 properties registered, indicating a strong real estate market. Most registrations were for residential units, especially in Central and Western suburbs, showing high demand for homes with modern amenities. Though stamp duty revenue dropped due to a high base effect from the previous year, monthly figures showed a 29% increase, reaching INR 1,143 crore. Homebuyers favoured mid-sized properties, but there's also a growing interest in larger homes, reflecting changing preferences. Overall, Mumbai's real estate market remains robust, driven by confident buyers and diverse housing options.Read more

PNT Reporter

DLF Ltd, India's largest real estate developer, is raising INR 600 crore through non-convertible debentures (NCDs) via its subsidiary DLF Home Developers Ltd. The funds will refinance existing debts. The allotment of 60,000 NCDs, each with a face value of INR 1 lakh, has been approved. While the specific utilization of funds was not disclosed, sources suggest DLF will refinance existing debts. DLF Group boasts a significant development potential of 215 million square feet across residential and commercial segments. Sales for the 2022-23 fiscal exceeded INR 15,000 crore. DLF plans to launch projects worth approximately INR 80,000 crore over the next 3-4 years to meet increasing demand for housing and commercial ventures.Read more

Blackstone, a leading global investment firm, announces a significant bet on India, planning to invest an additional USD 25 billion in Indian businesses over the next five years. This substantial investment underscores growing confidence in the Indian economy among international investors. Blackstone aims to expand its operations in India by doubling its office space in Mumbai and hiring 20 more investment professionals. Focusing on sectors with high growth potential, such as data centers, renewable energy, and infrastructure, Blackstone aims to support India's ambitious goals while actively aiding Indian businesses' growth. Despite challenges like the depreciating rupee, Blackstone remains optimistic, buoyed by India's promising stock market and abundant available capital.Read more