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Provident Housing has garnered massive interest for its latest project, Provident Ecopolitan located in Aerospace Park in North Bengaluru. An overwhelming number of Expressions of Interest (EoIs) have been recorded ahead of the project launch on August 19, 2023. Ecopolitan has a total of 956 apartments in 1, 2 and 3 BHK configurations ranging from 625 sq. ft. to 1,427 sq. ft. with more than 60% lung spaces.
Corporate governance & professionalism seem to be the emerging mantra of survival for Indian real estate. But the man who visualised the need for this decades back, maintains a low profile to not take any credit as the first-mover of institutionalising Indian real estate. As the industry body CREDAI decorates Ravi Puravankara for the lifetime achievement, Ravi Sinha interviews him to understand what goaded this first-mover to adopt corporate governance.
Prestige Group has emerged as the new Brand Leader of Indian real estate. The brand had continuously been closer to the Leadership and among the Top 3 National Brands. Brigade Group makes a giant leap and jumps from Number 5 to now the 2nd Best Brand of the business. DLF is continuously scaling up and now rests as 3rd Best Brand at the National level. Godrej Properties is losing its sheen as a Valuable Brand and slips down to Number 5 from Number 2 this fiscal year. Puravankara is also proving to be the Dark Horse of the National Brand Leadership and emerges from Number 7 to now at Number 5.
Shankar Mishra is a masonry worker at a construction site in Bengaluru. During the peak of the Covid-19, he was one among the thousands of workers who had no other option but to reverse migrate facing all odds. He thought at that point of time that his career as a mason worker was over. However, he had the surprise of his lifetime when the developer’s construction manager called him back and even offered to send a flight ticket for the same. Track2Realty traces the labour condition post the pandemic.
Ramneek Sethi, an IT professional wanted to invest in the stock market. He was keen on real estate stocks keeping in mind its growth potential and India’s increasing urbanisation. However, a meeting with the financial planner changed his mind. The financial planner categorically asked him to stay away from volatile real estate stocks and instead get into the power play through proxies in cement, steel, and other ancillary businesses. Reason: Real estate stocks are not just volatile, but more often than not even defy the principles of fundamental analysis and technical analysis.
Puravankara Limited (BSE: 532891) has achieved the highest ever annual and quarterly sales of any financial year since inception by clocking INR 1,007 crore in sale value in Q4 and a total of INR 3,107 crore for FY23, the company announced today, April 12, in its operational update.
Isn’t it ironic that in a housing market like India where the predominant demand is for ready to move houses, this segment too has a record unsold inventory standing. As per the statistics, out of the total 7.85 lakh unsold inventory, nearly 20 per cent are ready to move. Mind you! We are only talking about the top 8 cities of India. A cumulative figure of pan-India unsold ready to move housi9ng inventory would look even more scary.
To say that women workforce in the Indian real estate has broken the proverbial glass ceiling would be stating the obvious. Far from being perceived as a decorative value at the reception only, the women have now stormed into critical areas, from sales to consumer grievances and corporate communication to legal. Many of them have even been into the decision making and the work culture in many of the Grade A real estate companies appear to be gender neutral.
With the Maharashtra Government indicating to introduce Blockchain in property transactions, this new technology is in the spotlight. There are more questions in the public domain than answers as subject matter experts are few. In an exclusive interview with Ravi Sinha, Tushar Shrivastava, Co-founder & CTO, PropertyPistol.com decodes how Blockchain is the future of real estate transactions.
There is no denying that the real estate stocks have always been high in demand for investors. After all, in a housing deficient country like India it has to constantly grow. Isn’t it? However, what is often intriguing is that some of the real estate stocks have much higher price point, compared to the industry peers with similar fundamentals, including the EPS and PE ratio. This raises a fundamental question as to what determines the price of the real estate stocks.