The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
Buy a house with mortgage and then get so frustrated with the delays that you just stop paying the EMIs. This sounds funny, illegal and outrageous, but has already started trending in the world’s largest property market of China. The global property markets in general and susceptible markets like India in particular are watching the developments in the neighbourhood with a hope & prayer that such unpleasant events should not confront them. A Track2Realty analysis.
While other developers aspiring to go global are tying up with international brands, PNC Menon, founder and Chairman Emeritus of Sobha Group believes in organic growth of the brand. In an exclusive interview with Ravi Sinha at his Dubai office, he explains how Sobha has the inherent resilience to succeed anywhere in the global market. Focus on quality & don’t break the law is his mantra of global brand leadership.
News reports of real estate nowadays is making me religious. The reports about Supertech Twin Tower demolition is giving me “SPIRITUAL” feeling. If these media reports are to be believed, henceforth all the government officials will be careful in sanctioning the building plans, builders will be fearful with the law and the judiciary will be trusted as more pro-active than reactive. Isn’t it a proverbial “Ram Rajya” for the home buyers?
Ramneek Patel, an MNC executive in Gurugram is on a company leased accommodation and the HR is deducting INR 40,000 per month for his rented apartment. Now that the Goods & Service Tax (GST) has been imposed for rental residential units to companies, he has been told by the company that the said liability will be passed on to the employees living in company leased apartments. They can otherwise find an apartment on their own.
India’s urban housing today could at best be described as a soda bottle syndrome where the constant rural push to the select few urban centers could explode at any given point of time. It is not that the policy makers are unaware with the growing population and its dependence over the metro cities. As a matter of fact, when the country’s first planned city, Chandigarh, came into existence as a horizontal city that could cater as the capital of both the Punjab and Haryana State, it seemed to be independent India’s first tryst with organized urban planning in general and its housing solution in particular.
Puravankara has recorded highest ever first quarter sales of INR 513 crores from ongoing projects, area sold stood at 0.69 msft. Profit After Tax for Q1FY23 at INR 35 Crore up 258% qoq. Operating inflows stood at INR 667 Cr up 16% qoq.
Corporate governance is a core principle that cuts through the entire value chain of Puravankara, claims Abhishek Kapoor, CEO of Bengaluru-based company. In an exclusive interview with Track2Realty, he shares how transparency, integrity and respect are central to the company’s internal and external stakeholder relationships. Puravanakara has also established a strong ESG framework that guides the decisions as a business and a responsible corporate citizen. Excerpts of the interview:
Puravankara has closed its targeted AIF (Alternative Investment Fund) of INR 750 crore (including a green shoe option of INR 250 crore). The company targets the final close of the Fund by September 2022. The Fund will invest in a mix of plotted developments and mid-sized mass housing projects under the ‘Purva Land’ and ‘Provident Housing’ brands.
Puravankara stock has been pretty under-valued, claims Abhishek Kapoor, CEO of the company. According to him, it is the perception battle that Puravankara has to weather as the intrinsic value of the stock and the performance of the company is at par with the top real estate companies of the country. In an exclusive interview with Ravi Sinha, Puravankara CEO explains why and how the brand would change the perception in the next few years. Excerpt of the interview: