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India Mortgage Guarantee Corp. (IMGC) has partnered with GIC Housing Finance Ltd. to offer innovative home loan products backed by mortgage guarantees. This collaboration aims to make home loans more accessible and affordable for a wider range of borrowers, including salaried and self-employed individuals, by reducing risk for lenders and offering flexible loan terms.
Shriram Properties has strategically sold a 3.9-acre land parcel in Chennai, unlocking value to fuel its growth in residential development. This move aligns with the company’s focus on mid-market and mid-premium housing, and the proceeds will be reinvested to drive expansion in key markets like Bangalore, Chennai, and Kolkata.
NBCC (India) Ltd. has won construction projects worth ₹9,445 Crore across Uttar Pradesh, Haryana, Uttarakhand, and Karnataka. As the Project Management Consultant for 16 Supertech Ltd. projects, NBCC will oversee the development of nearly 50,000 homes, contributing to the country's affordable housing goals. The company has also secured additional orders in education, healthcare, and sustainable development, reinforcing its strong position in India's infrastructure sector.
In a significant move to boost urban development in Delhi, HUDCO has signed an MoU with DDA to provide consultancy services and organize capacity-building programs. This collaboration aims to enhance affordable housing, improve infrastructure, and ensure the efficient execution of key urban projects.
Signature Global is set to launch housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years, focusing on affordable housing to meet the rising demand. With plans to expand its footprint and acquire new land, the company aims to boost its sales and contribute to the region’s growth.
Prestige Estates Projects Ltd is set to launch a massive portfolio of residential developments worth Rs 52,000 crore by March 2025, spanning over 53 million sq ft across key cities like Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR. With strong demand driving the real estate market, these launches promise to cater to diverse buyer needs, from luxury homes to affordable housing, positioning Prestige Estates for significant growth in India’s thriving residential sector.
Signature Global Ltd. has posted a remarkable financial turnaround in Q2 FY24, reporting a net profit of Rs 4.15 crore compared to a loss of Rs 19.92 crore last year. With revenues soaring to Rs 777.42 crore, the company attributes its growth to strong demand in affordable housing, strategic project deliveries, and improved operational efficiency.
In Q2FY25, PNB Housing Finance reported a robust net profit of Rs 470 crore, reflecting a 23% year-on-year growth. With significant improvements in asset quality and an 11% increase in assets under management, the company is making strides in the retail loan sector. This post delves into the key factors behind its impressive performance and the market's reaction to the results.
Shriram Properties, a leading player in the Indian real estate sector, has officially launched its latest residential venture, 'Codename - Pudhiya Chennai'. Spanning a substantial 1.1 million square feet and with a projected revenue potential of ₹5.50 to ₹6.00 billion, this project aims to address the rising demand for quality housing in Chennai, a city experiencing robust urban growth. Following the announcement, Shriram Properties' shares saw a nearly 2% increase, indicating strong investor confidence in the company's strategic direction. With an eye on the evolving real estate landscape, 'Codename - Pudhiya Chennai' is set to attract a diverse range of buyers, from young professionals to families, making it a significant addition to Chennai’s residential market.
Mahindra & Mahindra Financial Services is expanding into the mortgage sector, offering a range of new products including housing finance and home improvement loans. This strategic move involves an investment of up to 300 million rupees to boost IT capabilities and participate in government affordable housing schemes, aiming to enhance their market presence and support national housing goals.