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Godrej Properties to tap into Tier II cities, deliver 15 million sq ft in FY25: CEO
Money Control
·
11m ago
Medial
Godrej Properties plans to expand its presence in Tier II cities in southern India, with a focus on plotted developments. The company is actively looking for opportunities in cities like Mysuru, Mangaluru, and Hosur. Plotted developments allow developers to test new markets and gauge demand for group housing. Godrej Properties aims to launch 21.9 million sq ft in FY25 with an expected value of Rs 30,000 crore. The company has a target of Rs 27,000 crore in sales bookings and plans to deliver 15 million sq ft of real estate in FY25. The CEO of Godrej Properties (South) highlighted the strong end-user demand in southern India, particularly in stable and less speculative markets.
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Shriram Properties aims to double sales to ₹5,000 crore by FY27, led by mid-income housing | Mint
Livemint
·
11m ago
Medial
Shriram Properties Ltd aims to double its sales to ₹5,000 crore by 2026-27, driven by robust mid-income housing sales and consolidation in the real estate sector. The Bengaluru-based developer plans to deliver around 15-16 million sq ft of residential projects with annual sales of ₹5,000 crore by FY27. It is venturing into Pune, in addition to its existing operations in Bengaluru, Chennai, and Kolkata. Shriram Properties unveiled a new brand identity, 'SPLNxT', focusing on mid-market and mid-premium projects.
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Arihant Foundations to invest Rs 650 crore in real estate, forays into Bengaluru
Money Control
·
1y ago
Medial
Chennai-based real estate developer, Arihant Foundations and Housing, plans to invest INR 650 crore in both Chennai and Bengaluru within the fiscal year 2025. The company intends to invest INR 150 crore in developing grade A office spaces in Bengaluru and the remaining amount in Chennai real estate. Arihant aims to develop around 0.5 million sq ft of commercial space and 1 million sq ft of residential space in both cities. The company expects to grow its top line by 15-20% in FY25 and sees increasing interest from buyers in Chennai as an investment opportunity.
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Demand for dark stores touched about 24 million sq ft in 2023. Here's a deep dive into the concept
Money Control
·
10m ago
Medial
The demand for dark stores is increasing in Tier 1 and Tier 2 cities in India, driven by the growth of quick commerce. A joint research by JLL and Miebach Consulting estimates a requirement of about 24 million sq ft of space by 2023, growing at a steady rate of 12% CAGR to 37.6 million sq ft by 2027. Dark stores are small warehousing urban distribution centers exclusively for online shopping, stocking a limited inventory of products with a short shelf life. Challenges for expanding dark stores include compliance with local laws and finding affordable yet strategically located premises.
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Max Healthcare acquires Starlit Medical Centre for Rs 940 crore
IndianStartupNews
·
1y ago
Medial
Indian private healthcare services provider Max Healthcare Institute has acquired Starlit Medical Centre for Rs 940 crore ($125 million). The acquisition includes the 550-bed Sahara Hospital in Lucknow, housed in a 17-storey building with a built-up area of 890,000 sq ft. Max Healthcare aims to bring high-end medical programs to Lucknow, such as oncology and organ transplants, and strengthen existing programs. The company sees this acquisition as an opportunity to expand into tier I and II cities with established healthcare infrastructure.
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WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai
Money Control
·
1y ago
Medial
WeWork India has renewed its lease on a 140,000 sq ft space from Nesco at its Goregaon East office complex for five years. The lease agreement, effective from August 1, includes a rent of INR 162 per sq ft per month, amounting to a total of INR 27 crore per year. The agreement also includes two escalations in 2025 and 2028. WeWork India, majority-owned by Embassy Group, operates independently from WeWork Inc and manages around 8 million sq ft of office spaces across multiple cities in India. Embassy Group plans to make WeWork India public in the next two years.
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Spring House Workspaces starts 28K sq ft co-working centre in Delhi
Economic Times
·
14d ago
Medial
Spring House Workspaces has launched a 28,000 sq ft co-working center in Saket, South Delhi, with a capacity for 450 seats. This expansion is in response to increasing demand from corporates for managed flexible workspaces. Founded by Mukul Pasricha, the company operates more than 20 centers in Delhi-NCR, covering over 8 lakh sq ft. A real estate consultant reports a surge in co-working space leasing across major cities in recent quarters.
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Family offices bet on OYO’s co-working space unit
VCCircle
·
6m ago
Medial
Family offices, including those of Mankind Pharma's promoters and movie producer Gauri Khan, have invested in OYO's co-working arm Innov8, raising Rs 110 crore at a Rs 1,000 crore valuation. Innov8 plans to use the funds for growth, including acquisitions and tech upgrades, doubling its centers to 100 in India this year. The company aims to expand in Tier-I cities and enter the managed working space segment, adding 4 million sq ft in three years.
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Tesla India takes on lease 8,200 sq ft commercial space in Delhi's Aerocity
Economic Times
·
17h ago
Medial
Tesla is expanding its presence in India by leasing 8,200 sq ft of commercial space in Delhi’s Aerocity for Rs 17.22 lakh per month, according to CRE Matrix. The lease is for nine years, with a 15% rent escalation every 36 months. This follows Tesla's setup in Gurugram, Haryana, where it leased a 33,000 sq ft space for a service center and sales outlet. These moves indicate Tesla's commitment to strengthening its foothold in the Indian market.
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WeWork India signs lease agreements for co-working centres in Bengaluru, Hyderabad
Economic Times
·
1y ago
Medial
WeWork India has leased 2.72 lakh sq ft of office space in Bengaluru and Hyderabad to open two new co-working centres with around 4,000 desks. The company is expanding in South India and has signed lease agreements for Manyata Redwood in Bengaluru and RMZ Spire in Hyderabad. WeWork India has grown its portfolio to over 6.5 million sq ft across 50 locations in various cities in India. The Indian business is not affected by the bankruptcy proceedings of WeWork Global.
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CityMall breaks even, ditches social commerce model
Livemint
·
1m ago
Medial
CityMall, an e-commerce startup supported by Accel and Elevation Capital, achieved operational breakeven in FY25 by revamping its delivery model and engaging micro-entrepreneurs in over 60 small Indian cities. Initially a community-led platform, the Gurugram-based company focused on grocery delivery across tier-2 and tier-3 towns. This strategic pivot helped streamline supply chains and boost revenue, leading to a threefold growth over 15 months, according to CEO Angad Kikla.
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