Wednesday, April 17News That Matters

Business & Finance

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

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

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

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...
FabHotels Add 100+ Premium Hotels Making Luxury Stay Affordable

FabHotels Add 100+ Premium Hotels Making Luxury Stay Affordable

Business & Finance
08/08/2023 Gurgaon, Haryana, India The fastest-growing budget hotel chain in India, FabHotels, has now added 100+ premium hotels to its collection. Since its inception in 2014, FabHotels has expanded to 100+ premium hotels making luxury stays affordable in Indian cities. FabHotels is growing every day with 1500+ hotels in 80+ cities. The entire hotel portfolio of FabHotels is divided into 4 categories - FabExpress, FabHotel, FabHotel Prime, and FabEscape. FabHotel Prime is a collection of premium-quality hotels that offers top-quality services along with other perks. The well-equipped rooms in these hotels provide premium amenities that are designed with a contemporary theme flaunting rich interiors. These hotels have highly trained staff who are well-versed in the requirements ...
Property Finder launches all-new Data Guru as the demand for property grows in the region

Property Finder launches all-new Data Guru as the demand for property grows in the region

Business & Finance
The new tool aims to empower home seekers for better decision making DUBAI, UNITED ARAB EMIRATES, 8 August 2023: Property Finder, the leading property portal in the MENA region, has announced the launch of Data Guru – a new set of features that unlocks insights and data about properties to allow better decision-making. The new tool within the Property Finder website and app serves as a one-stop solution for all the information home seekers are typically looking for. As a trusted partner on the home search journey, Property Finder continues to innovate to address critical pain points in the home search journey which include a time-intensive property research process, absence of comprehensive data, as well as lack of trust and transparency. To address these issues, Property Finder has...
MRG Group to Come Up with Affordable Housing Project in Sector 90, Gurgaon

MRG Group to Come Up with Affordable Housing Project in Sector 90, Gurgaon

Business & Finance
Gurgaon, Haryana, India NCR-based real estate developer, MRG Group has unveiled its plan to come up with a new affordable housing project in Sector 90, Gurgaon. Situated along the bustling Gurgaon, the project will cater to the region’s burgeoning demand for affordable housing. “We are committed to the state’s vision of affordable housing and are delighted to continue our efforts to provide competitively priced residential options in Gurugram that don’t compromise on comfort, aesthetics, or functionality. The new project at Sector 90 will address the needs of homebuyers and bring a new wave of amenities to the affordable housing landscape,” said Rajjath Goel, MD, MRG Group. “We believe that everyone deserves a place they can call home. Our foray into the value homes sector aligns w...

GST council meeting on Aug 02 – Industry, investors, gamers hope the council will consider their concern of repeat taxation

Business & Finance
28th July, New Delhi: The GST council is likely to meet on August 02, to finally decide the implementation of GST on online gaming. The council will also decide whether the 28% GST will be levied on the deposits or on every game. The revenue secretary yesterday had acknowledged that levying 28% tax on every game will lead to repeated taxation of the same rupee resulting in the effective tax rate going as high as 50%-70%. He clarified that while there was no possibility of taxing the GGR, which is internationally prevalent in countries like USA, UK, Australia, whether the GST will be levied on deposits, or every game is a decision that the GST council will take. There has been a widespread concern on the debilitating effect that taxing every game will have on the industry. Earlier las...
BDK Valves and Gurukrupa Group Acquire Theis Precision Steel

BDK Valves and Gurukrupa Group Acquire Theis Precision Steel

Business & Finance
28/07/2023 Gujarat, India BDK Valves (a leading manufacturer of Industrial valves providing flow control solutions to global customers) and Gurukrupa Group (a leading realty developer in western India), announced the successful acquisition and controlling (100%) stake in Theis Precision Steel India Pvt. Ltd. (Theis Precision). This is the second acquisition of international companies by the promoter group to serve customers in India & across the world. Theis Precision, formerly owned by Tata Steel Ltd., is a pioneer in specialty cold rolling of high/medium carbon steels in India. Today, it is a leading specialty cold rolled steel strips manufacturer in the country. It also is the only manufacturer of precision hot rolled solid steel profile sections, by a unique process, to sat...
Nakheel launches Rixos Hotel & Residences on Dubai Islands, a new luxury waterfront development

Nakheel launches Rixos Hotel & Residences on Dubai Islands, a new luxury waterfront development

Business & Finance
DUBAI, UAE, July 26, 2023 /PRNewswire/ -- Nakheel, the world-leading real estate master developer based in the United Arab Emirates, in partnership with Excelsior Real Estate LLC, has launched Rixos Dubai Islands, Hotel & Residences, offering a resort lifestyle in a curated and relaxed setting situated in a prime location on Dubai Islands, on the northern coast of the emirate of Dubai. https://youtu.be/XwX6Dgj7jGM Dubai Islands by Nakheel Rixos Dubai Islands, Hotel & Residences is the first luxury hotel and residential offering on Dubai Islands providing residents and visitors the same level of service and amenities that can be found at Rixos resorts across the world, such as communal residential lounges, hotel-style lobbies with drop-off facilities, infini...