Shares of Indiabulls Real Estate Ltd (IBREL) on Monday jumped 40% on Monday after the property developer revealed plans to carve out its leasing and commercial businesses into a separate entity.The IBREL board that met on Monday morning decided to create a new vertical to house the two businesses. The residential business will continue to… Read More »
Saddled with total debt of around Rs 46,000 crore, Air India has written to 16 of its lenders to cut interest rate on its loans by up to 2 percentage points, in line with the reduction in rates in the market. The airline is also in talks with state-owned infrastructure company NBCC and Ministry of… Read More »
Information Technology (IT) sector continued to dominate the leasing activity in India in 2016. Together, IT and BFSI contributed to nearly 69% of the leasing volume last year. Bangalore dominated the city-wise contribution to IT sector leasing with 36.7% share, followed by Pune. *2016 Grade A lease data only
Chennai recorded leasing volume of 1.5 msf in the first quarter of 2017 – highest for the same period in the last five years. This increase was driven mainly by renewals and expansion of existing tenants such as: Average rentals in Chennai were between INR 55-60/sf/month. Average deal size for Q1 2016 was 48,000 sf.
Share price of Indiabulls Real Estate added nearly 3 percent intraday Wednesday as it has signed an agreement to acquire India Land & Properties for Rs 685 crore. The company’s wholly owned subsidiary Indiabulls Infrastructure has signed a definitive agreement to acquire 100 percent share capital of India Land and Properties (ILPL), for an aggregate… Read More »
Real estate developer RMZ Corp. has started the process of selecting investment banks to manage its initial public offering (IPO) for its proposed real estate investment trust (REIT) which could see the developer raise more than Rs 2,000 crore, three people aware of the development said. REITs are entities that primarily invest in leased… Read More »
Realty firm Omaxe Ltd’s sales bookings rose marginally by 2 per cent to Rs 282 crore during the third quarter of this fiscal on higher realisation despite demand slowdown after demonetisation move. However, sales bookings in volume terms fell 28 per cent to 0.57 million sq ft during October-December period of the 2016-17 fiscal from… Read More »
The Indian arm of US-based Cognizant Technology Solutions has renewed the lease on its office space in the Blackstone Group-owned IT park in Pune, said two people familiar with the development. The deal is the first major office space transaction this year. Following the renewal of the lease of 2.6 lakh square feet of office… Read More »
After building a sizeable residential portfolio, India’s largest realty firm in terms of sales, Lodha Developers Pvt. Ltd, is looking at commercial real estate for its next level of growth. The firm is planning to build around 9 million sq. ft of office space, 1 million sq. ft of retail space and a warehousing and… Read More »
Indian real estate funds are finding it tougher than usual to raise money as investors demand a more rigorous due-diligence process in an uncertain environment. Large pension funds and global investors are now seeking exclusive and direct partnerships with developers instead of parking money with fund managers who are essentially intermediaries. “There are some uncertainties… Read More »
