Prestige Estates Projects reports 12% fall in Q1 profit due to lower sales and fewer launches, amidst a slowdown in approvals and project launches during the election period.
Indian Real EstatePrestige Estates ProjectsOberoi RealtyLuxury ProjectsSlowdown In ApprovalsReal Estate MumbaiJul 31, 2024
The company reported a consolidated net profit of Rs 233 cr in Q1, a 12% fall from the same period last year.
The decline in profit was due to lower sales and fewer launches during the quarter, amidst a slowdown in approvals and project launches during the election period.
The luxury segment of the housing market continued to show growth, with higher-end buyers remaining unfazed by inflationary pressures.
Mumbai-based Oberoi Realty reported an 82% profit jump in the June-quarter, as demand for luxury projects sustained its momentum.
Prestige Estates Projects is known for its premium residential and commercial projects, with a strong presence in South India.
Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, buys 22 office spaces in Mumbai's Andheri for ₹267 crore.
Finance and Property: Ganesha predicts a slight decline in profits from real estate. Be cautious in real estate deals and keep an eye on expenses to improve financial outlook.
Penny Stock Under Rs 3: KBC Global Ltd, a leading real estate developer, has successfully handed over possession of over 135 residential and commercial units since April 2024 and is set to launch its next project in Deolali, Nashik.
Despite regional challenges, the global cold rolled coil market is witnessing a significant price increase. This trend is being driven by a combination of factors, including real estate incentives, lower mortgage rates, and relaxed property buying rules,
With verified listings, investment opportunities, and financial support, Property Box is a game-changer for the real estate industry.
Zerodha's co-founder, Nithin Kamath, suggests a novel idea of linking real estate prices to Air Quality Index (AQI) levels. This innovative approach aims to reflect the environmental impact on property values and enhance transparency for buyers.