Business & Finance – Page 10 – Property World Global

Nov22023 by FWMNo Comments

Property Finder reports record 81% YoY surge in transaction value in existing property market to AED 25.7 billion for October 2023

Highlights: Overall, October 2023 witnessed 7,128 transactions worth AED 29.7 billion Transaction volume in the existing property segment grows by 36.8% to 5,602 Strong interest in furnished rental apartments continues DUBAI, UNITED ARAB EMIRATES, 02 November 2023: Property Finder, the leading property portal in the MENA region, has revealed key trends shaping Dubai’s dynamic property market in October 2023. The month saw 7,128 real estate transactions worth a total of AED 29.7 billion, recording a 17.46% increase in value compared to the same month last year. According to the latest data, 60% of property buyers were looking for an apartment, while 40% were interested in villas/townhouses. Meanwhile, in the rental market, around 82% of tenants were searching for apartments...

Nov12023 by FWMNo Comments

Mahindra Lifespaces and Axis Bank partner to provide Home loans for Green Homes

Business & Finance

Mahindra Lifespaces customers can avail loans at 0.25% lower rates for green projects. Bangalore, 1st November 2023: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today, announced its partnership with Axis Bank, one of the largest private sector banks in India. Through this partnership, all Mahindra Lifespaces customers can now avail home loans at a competitive interest rate, which is 0.25% less than the standard home loan rates. Emphasizing on the core values of this collaboration, the loan application and disbursal process will be seamless with reduced paperwork, to minimize paper wastage and ensure efficient document management. Through this partnership, both the entities aim to encourage customers ...

Oct262023 by FWMNo Comments

Embassy REIT Reports Strong Operating and Financial Results for 2Q FY2024

Business & Finance

: Delivers Record 2 Million Square Feet of Total Leases and Raises Leasing Guidance for FY2024 Thursday, October 26, 2023 5:11PM IST (11:41AM GMT) Bengaluru, Karnataka, India: Highest ever quarterly leasing of 2 msf across 25 deals including 7 new deals over 100k sf Strengthens partnership with large global tech occupier for ~600k sf office space at Embassy GolfLinks, Bengaluru Raises leasing guidance for FY2024 from a record 6.0 msf to 6.5 msf; On-track with FY2024 NOI and distribution guidance 90%+ occupancy levels across 50% of the REIT’s properties with Embassy 247 in Mumbai 100% occupied Delivers distributions of Rs 524 crores or Rs 5.53 per unit Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and th...

Oct252023 by FWMNo Comments

Managed Co-Working Player Urban Vault to Add 10,000 Seats in Bengaluru within This Quarter

Architecture, Business & Finance, News

With this new addition, Urban Vault's total inventory of managed co-working seats in Bengaluru will surge to an impressive 25,000 seats New seats to come up at prime locations in Sarjapur Road, Hebbal, Koramangala, and HSR Layout Urban Vault plans to enter markets in Delhi, Hyderabad, and Pune in the coming year Bengaluru, Oct 25, 2023— Urban Vault, one of the leading managed office space providers in India, on Monday announced the addition of 10,000 desks across major micro-markets of Bengaluru as part of the company's strategy to expand its portfolio to meet rising demand for flexible workspace. Founded in 2018, Urban Vault currently has 15,000 desks across 40 centres in Bengaluru. The total area under its portfolio is 10 lakh square feet. With this latest addition, Urba...

Oct192023 by FWMNo Comments

Wipro Announces Results for the Quarter-Ended September 30, 2023

Business & Finance

Large deal bookings reach $1.3 billion, an increase of 79% YoY and 6% QoQ Total bookings of $3.8 billion, mark a 6% YoY increase IT services segment EBIT increases 6% YoY. EPS increases 4.1% YoY Operating cash flows at 145% of net income https://youtu.be/NkWijU2qUoQ EAST BRUNSWICK, N.J. | BANGALORE, India – October 18, 2023: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter-ended September 30, 2023. Highlights of the Results Results for the Quarter ended September 30, 2023: 1. Gross revenue reached ₹225.2 billion ($2.7 billion1), a decrease of 0.1% YoY. 2. IT services segment revenue was at $2,713.3 million, a decrea...

Oct92023 by FWMNo Comments

Malabar Gold & Diamonds Wins Two Prestigious Awards in Jewellery Sector

Business & Finance

Oct 09, 2023 14:53 IST Mumbai, Maharashtra, India Malabar Gold & Diamonds, a leading global jewellery retail brand, has bagged two prestigious awards in the jewellery sector. The jeweller has won ‘The Bride’s Pride’ National Jewellery Award 2023, instituted by the All India Gems and Jewellery Domestic Council, for the best bridal diamond jewellery, and ‘Seventh Retail Jewellers Guild Award’ for the best diamond jewellery design. Malabar Gold & Diamonds’ western region head Fanzeem Ahamed received ‘The Bride’s Pride’ award from Bollywood star Shilpa Shetty in Mumbai Malabar Gold & Diamonds’ western region head Fanzeem Ahamed received ‘The Bride’s Pride’ award from Bollywood star Shilpa Shetty in Mumbai and northern region head Jishad N...

Oct92023 by FWMNo Comments

IHG & K Raheja Sign for Two Hotels in Mumbai

Business & Finance

Mumbai, Maharashtra, India Intercontinental Hotels Group Signed Hotel Management Agreements with Nikhil K Raheja, MD - Saryu Properties & Hotels Private Limited for VOCO Mumbai Powai Hotel & Convention Centre with Vijayta Raheja, Director - Sphpl for Holiday Inn Express & Suites Both Set To Open In Powai, Mumbai IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a management agreement with Saryu Properties & Hotels Pvt. Ltd. (Part of the K Raheja Group Family) to convert two hotels in Mumbai into VOCO Mumbai Powai Hotel & Convention Centre and Holiday Inn Express & Suites - Mumbai Powai. From left to right - Vijayta Raheja - Director & Spokeswoman of SPHPL, Nikhil K Raheja - MD - SPHPL (Part of K Raheja Family G...

Sep132023 by FWMNo Comments

INGKA CENTRES AND LE MARCHE SIGN AGREEMENT TO OPEN NEW SUPERMARKET IN LYKLI GURUGRAM, INGKA CENTRES’ FIRST MEETING PLACE IN INDIA

Architecture, Business & Finance

Ingka Centres introduces a fresh addition to its India-first Lykli Gurugram meeting place. The ground floor will feature Le Marche, a supermarket with a unique to India concept, developed exclusively for Lykli Gurugram meeting place. Earlier this year, Ingka Centres confirmed PVR Limited will operate a nine-screen movie multiplex as a part of a leisure offer in a new meeting place. 12 September 2023: Ingka Centres and Le Marche have today announced the signing of the agreement for the supermarket to open on the ground floor of the Lykli meeting place in Gurugram. The new supermarket will offer a first-of-its-kind enhanced customer experience in its one-in-city format, occupying an area of 2,676 sqm. Le Marche has curated a unique to India grocery store concept, to be implemented exc...

Aug122023 by FWMNo Comments

Puravankara Q1 Revenue at Rs. 323 Crores, up 50 Percent Y-o-Y; Pre-Sales of Rs. 1,126 Crores Delivers 119 Percent Growth

Business & Finance

Bengaluru, Karnataka, India: Puravankara Limited (BSE: 532891), one of India’s most trusted real estate players, announced its financial results today for the first quarter (Q1FY24) ending June 30, 2023. The company recorded sales of Rs. 1,126 crores, an increase of 119% Y-o-Y. Sales volume for the quarter stood at 1.36 msft, up by 97% Y-o-Y with a strong collection of Rs. 696 crores (+52% Y-o-Y). Average price realisation increased by 11% to Rs. 8,227/sq ft during the quarter, up from Rs. 7,436/sq ft in Q1FY23. Operating cash inflows stood at Rs. 866 Crores (+30% Y-o-Y) and revenue from projects stood at Rs. 323 crores (+50% Y-o-Y). Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, “The results for Q1FY24 show a strong start ...

Aug102023 by FWMNo Comments

Brigade Group’s Real Estate Sales stands at ₹ 996 Crores

Business & Finance

Consolidated Total Income at ₹ 685 Crores in Q1 FY24 Bengaluru, August 8, 2023: Q1 FY24 CONSOLIDATED FINANCIAL HIGHLIGHTS Total Income at ₹ 685 Crores EBITDA at ₹ 206 Crores PAT after MI stood at ₹ 39 Crores Total collections for the Q1 FY24 stood at ₹ 1,244 crores Brigade Group reported a revenue of ₹ 685 Crores and PAT after Minority Interest of ₹ 39 Crores in Q1 FY24. New bookings in real estate segment in Q1 FY 24 is 1.46 mn sft valued at ₹ 996 Crores. Brigade also reduced its real estate debt by ₹ 45 Crores, of which residential debt is fully repaid as of June 2023. The average cost of debt at the Group level is at 8.7% "During the quarter under review, we maintained steady growth across all segments: residential, office, retail, and hospitality. Our pipeline across bus...