REALTY DECODED Q4 FY’16 - d27p8o2qkwv41j.cloudfront.net · Prestige Kew Gardens & Artha Emprasa...
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REALTY DECODED Q4 FY’16APRIL 2016
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REALTY DECODED Q4 FY’16Page 01
LAUNCHES
INVENTORY SCENARIO
INSIGHTS & OUTLOOK
CONSUMER & DEMAND
PRICE TRENDS MACRO INDICATORS
Structure
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REALTY DECODED Q4 FY’16Page 02
Key Insights And Outlook
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REALTY DECODED Q4 FY’16Page 03
Key InsightsSales have decreased marginally by 4% over Q3 FY’16, from 53k (Q3 FY’16) to 51k (Q4 FY’16), this being one of the lowest fall over preceding 9 quarters; the sales over the last 4 quarters have hovered in the 49K to 57K; possibly indicating that downside is limited from here onwards
Over 97% residential demand in major cities in the Q4 FY’16 was witnessed from the end-user; a sharp increase from 77% demand seen in the Q1 FY’16
Launches during Q4 FY’16 have recorded a decline of 14% over the previous quarter and 51% compared to the same period last year; all cities have seen the decline indicating the reduction in the activity levels across the primary residential markets
While response to the launches from quality developers has been relatively better, the sector is largely grappling with the slow inventory movement of existing projects; thus putting pressure on cash flow of projects, thereby impacting fresh deployment of funds in new projects
Sub 75 Lac budget segment is seeing increase in proportion of total launches with 69% of total launches in Q4 FY’16 being in this category; up from 63% seen in Q3 FY’16
Over 50% sale continues to be in the affordable segment; with all the 4 quarters in FY’16 seeing the same trend
Hyderabad is the only city to show increase in sale over previous year; with Q4 FY’16 growing at 5% over Q4 FY’15. All other cities have seen decline from 4% to 44% over same period
Hyderabad has seen the most price appreciation rising by 15% over the last 12 quarters; Bengaluru is catching up closely at 13% price appreciation. The price increase on real basis, however, has seen negligible
Unsold inventory in Bengaluru and Hyderabad witnessed declining trend owing to increased sales and decline in launches
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REALTY DECODED Q4 FY’16Page 04
OutlookAs per International Monetary Fund (IMF), the Global Economic growth is projected to be at 3.1% in 2017. While developed economies are showing modest recovery, many emerging economies are witnessing slowdown in growth
India's economic growth is expected to be at 7.5% in FY’17 against 7.3% in FY’15 according to the forecast by International Monetary Fund (IMF). The growth is expected to be driven by fall in crude oil prices, better than expected monsoon, uptake of investment activity both in private and public sectors and improvement in global trade and investments. The Reserve Bank of India is taking further measures to bring down inflation from current levels of 5.18%
While the global economic scenario remains tough; the domestic macro factors of interest rates and inflation have started softening although at a tepid pace. While the long term story for residential market remains strong; the short term is expected to be sluggish
Affordable housing supply and demand is expected to see thrust in the short to medium term on account of incentives offered by the Government in the Union budget to both developers and the first time buyers
With the RERA (Real estate Regulatory Authority) bill now a reality, the real estate market is expected to see fundamental changes in the way of operation. While this is going to augur well for the sector in the long term, however it is equally expected to create imbalances in demand and supply on account of adherence of disclosure norms and processes on the supply side and buyers getting more information to decipher and evaluate their dream projects
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REALTY DECODED Q4 FY’16Page 05
Launches: Hitting The Bottom?
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REALTY DECODED Q4 FY’16Page 06
Launches continue to make new lows; at lowest levels in 12 quarters
142,627
115,890 116,402108,226
78,075 75,357 79,34373,433
50,594
36,77442,269
36,275
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
Q1 FY'14
Q2 FY'14
Q3 FY'14
Q4 FY'14
Q1 FY'15
Q2 FY'15
Q3 FY'15
Q4 FY'15
Q1 FY'16
Q2 FY'16
Q3 FY'16
Q4FY'16
Total number of launches in Top-9 cities*# of units
-51%
-32%
Notes: * Top 9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon(includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata, and Ahmedabad.Analysis includes apartments and villas across these regions.
High Inventory levels, limited demand, tight cash flows leading to
developers adopting a cautious mode
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 07
All cities saw reduction in launches over Q4 FY’15
2,95
3
14,9
54
6,62
5
3,39
2
3,97
1 6,93
0
14,3
63
18,4
90
1,75
5
522
9,87
3
4,04
7
2,78
1
2,21
4
3,36
6
4,29
6
7,62
3
1,55
3
0
5,000
10,000
15,000
20,000
Ahmedabad Bengaluru Chennai Hyderabad Kolkata Noida* Pune Mumbai** Gurgaon^
Total unit launches – Q4 FY’15 vs Q4 FY’16
Q4 FY'15Q4 FY'16
# of units
-39% -12%-18% -44% -59%-51% -70%-82% -34
% change in total launches
(Q4 FY’15 – Q4 FY’16)
Ahmedabad Bengaluru Chennai Gurgaon^Hyderabad Kolkata Mumbai**Noida* Pune
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Prestige Kew Gardens & Artha Emprasa Phase 2
have launched >850 units
Prime LifespaceArete Homes Phase 1 & Asta Avm have
launched >650 units
Shantiniketan BuildconPrakriti & Gulshan Homz
Botniahave launched >900 units
RahejaMaheshwarahas launched ~663 units in
Sohna
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 08
Affordable housing to gain further traction due to lucrative incentives announced in Union Budget-FY17
22% 23% 22% 20%12%
20% 22% 23% 20% 16% 14% 18%
41% 41% 40% 39%42%
36% 30% 35%33% 41%
32% 27%
15% 15% 16% 19%20% 19% 23% 16% 25% 21%
17% 24%
7% 8% 7% 7%8% 10% 8% 8%
8% 10%
12%11%
15% 13% 15% 15% 18% 15% 17% 18% 14% 12%25% 20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q1FY'14
Q2FY'14
Q3FY'14
Q4FY'14
Q1FY'15
Q2FY'15
Q3FY'15
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Q-o-Q budget-wise unit launches in Top-9* cities
> Rs.1 Crore
Rs.75-100 Lacs
Rs.50-75 Lacs
Rs.25-50 Lacs
< Rs.25 Lacs
% of units
Notes: * Top-9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon (includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata, AhmedabadAnalysis includes apartments and villas across the regions. Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 09
Consumer & Demand : A�ordability And End Use Defining The Game
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REALTY DECODED Q4 FY’16Page 10
Marginal decline in sales over previous quarter; bottom formation around the corner
134,190
117,680 114,302107,013
92,72580,366
76,73965,789
57,24548,976
53,457 51,550
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
Q1FY'14
Q2FY'14
Q3FY'14
Q4FY'14
Q1FY'15
Q2FY'15
Q3FY'15
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Sales trend in Top-9 cities*# of units
Notes: * Top-9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon (includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.
-39%
-22%
The sales over the last 4 quarters have
hovered in the 49K to 57K; possibly indicating that downside is limited
from here onwards
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 11
Higher preference for projects, showing traction on ground
70,204
53,31150,140
47,351
37,413
30,250 28,89425,832
20,97814,323
17,655 16,676
63,922
64,326 64,15559,662
55,31250,116 47,845
39,95736,267 34,653 35,802 34,874
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Q1FY'14
Q2FY'14
Q3FY'14
Q4FY'14
Q1FY'15
Q2FY'15
Q3FY'15
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Sales in Top-9* cities in new launches vs old projects
New Launches (Launch date ≤ 6 months) Old Projects ( Launch date > 6 months)
# of units
Notes: * Top-9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon (includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 12
Hyderabad, Bengaluru and Gurgaon defy trend; increase in sales over previous quarter
100
8785
76
93
83
94 96
77
7068
66
5860
80
74
105
79
91
84
90
78
75
6564
56
77
82
50
60
70
80
90
100
110
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Ahmedabad Bengaluru Chennai Gurgaon^ Hyderabad Kolkata Mumbai** Noida* Pune
Inde
x va
lue
(Bas
e: Q
4 FY
’15=
100)
Q-o-Q sales index
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 13
Affordable segment continued to hold dominant share in total sales
58% 59% 59% 59% 57% 56% 56% 56% 52% 52% 52% 52%
18% 18% 18% 18% 19% 20% 21% 19% 23% 21% 19% 20%
24% 23% 23% 23% 24% 24% 23% 25% 25% 27% 29% 28%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q1FY'14
Q2FY'14
Q3FY'14
Q4FY'14
Q1FY'15
Q2FY'15
Q3FY'15
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Sales in Top-9* cities by budget segment
Affordable Segment Mid Segment Luxury Segment
Notes: 1: Affordable segment: Units within < Rs.50 Lacs budget2: Mid-segment: Units within Rs.50-75 Lacs budget3: Luxury segment: Units in > Rs.75 Lacs budgetAnalysis includes apartments and villas across the regions.
1 2 3
% of sales
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 14
Barring Gurgaon and Mumbai, all cities shown high demand for < Rs. 50 Lacs properties
29%
3%17% 21%
8% 4% 10% 5%14%
47%
50%
44%
60%
26%43%
48%
32%
43%
16%
27%20%
13%
20%
35%28%
15%
25%
3%11% 12%
3%
15%
14% 9%
22%
11%
5%9% 7% 3%
31%
4% 5%
26%
7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%> Rs.1 Crore
Rs.75-100 Lacs
Rs.50-75 Lacs
Rs.25-50 Lacs
< Rs.25 Lacs
% of demand
Budget-wise real estate end-user demand^^ – Q4 FY’16
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.^^ Based on survey of enquiries received by PropTIger.com.Analysis includes apartments and villas across the regions. Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 15
Lion’s share of demand is driven by end-users across cities
94% 98% 96% 98% 100% 97% 99% 97% 99%
6% 2% 4% 2% 3% 1% 3% 1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
End User Demand Investor Demand% of demand
Total demand^^ by consumer profile – Q4 FY’16
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.^^ Based on survey of enquiries received by PropTIger.com.Analysis includes apartments and villas across the regions. Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 16
Inventory Scenario: Reading Between The Lines
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REALTY DECODED Q4 FY’16Page 17
Unsold inventory has increased across the cities except in Bengaluru and Hyderabad
108,817101,384
78,853
54,62148,095
33,769 31,184 27,256
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
Mumbai** Bengaluru Noida* Pune Gurgaon^ Chennai Kolkata Hyderabad Ahmedabad
Unsold inventory levels in Top- 9 cities (Mar’16)# of units
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
173,439
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 18
Ahmedabad, Chennai and Hyderabad together accounted for over 45% of the ready-to-move-in unsold inventory
16.5%
14.9%13.8%
8.3%
6.5% 6.4%5.7%
3.0%1.7%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
Ahmedabad Chennai Hyderabad Bengaluru Kolkata Pune Mumbai** Noida* Gurgaon^
% of unsold inventory
Ready-to-move-in unsold inventory in Top - 9 cities (Mar’16)
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 19
The age of unsold inventory in Pune and Bengaluru is lessthan 22 months
Ahmedabad27,256
Bengaluru108,817
Chennai48,095 Gurgaon
54,621
Hyderabad31,184
Kolkata33,769
Mumbai173,439
Noida101,384
Pune78,853
15
20
25
30
35
40
10 20 30 40 50 60 70 80 90
Age of unsold inventory (months)
Age of unsold inventory vs inventory overhang in Top-9* cities (Mar’16)
Inventory overhang (months)
Notes: * Top-9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon (includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.Size of the bubble indicates total inventory in units. Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 20
Noida, Mumbai, Chennai and Hyderabad to have over 30% unsold inventory aged above 3 years
27% 32%25% 27% 30% 25%
11%
33%20%
23%26%
21% 21%29%
20%
19%
31%
21%
22%
26%
23% 21%
21%
24%
26%
22%
37%
28%16%
31% 31%20%
31%44%
14%22%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Ahmedabad Bengaluru Chennai Hyderabad Kolkata Mumbai** Noida* Pune Gurgaon^
> 3 Yrs
2 to 3 Yrs
1 to 2 Yrs
≤ 1 Yr
% of inventory Age of unsold inventory in Top - 9 cities (Mar’16)
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
Source: PropTiger DataLabs Apr’16
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80,716
64,168
49,06842,510
26,822 25,92722,429
18,999
11,817
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Mumbai** Noida* Pune Bengaluru Gurgaon^ Chennai Kolkata Ahmedabad Hyderabad
Unsold inventory in Top- 9 cities: affordable segment^^ (Mar’16)
# of unitsNoida
Noida Extension and Yamuna Expressway have~50,430 (~79%)
PuneWagholi~4,432;
Moshi, Undri, Chakan and Talegaon Dabhade have >2,500
BengaluruElectronics City
~4,658
MumbaiPanvel~5,605Virar~5,227Neral~5,204
Bhiwandi~5,018
ChennaiKelambakkam~2,275
Vandalur~1,686Mevalurkuppam~1,678
KolkataRajarhat New Town~5,159
AhmedabadNava Naroda, Bopal and Narolgam have >1,500
HyderabadKukatpally~1,595
GurgaonShahjahanpur~3,205
Sector 18 Bhiwadi~1,592
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.^^ Affordable segment: Units within < Rs 50-Lacs budget.Analysis includes apartments and villas across the regions.
REALTY DECODED Q4 FY’16Page 21
Unsold inventory in affordable segment is relatively high in Mumbai, Noida, Pune and Bengaluru
Source: PropTiger DataLabs Apr’16
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39%
7% 11%21%
8%
20% 23%11%
19%
31%
32%
43% 28%
30%
47%
24% 52%43%
9%
28%
22%
12%22%
16%
12%
22% 22%
5%
14%
11%
9% 16%
9%
8%
8% 7%16% 19%
13%
30%24%
8%
33%
7% 9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
> Rs.1 Crore
Rs.75-100 Lacs
Rs.50-75 Lacs
Rs.25-50 Lacs
< Rs.25 Lacs
% of inventory Budget breakup of unsold inventory (Mar’16)
Notes: * Noida includes Greater Noida and Yamuna Expressway.** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments and villas across the regions.
REALTY DECODED Q4 FY’16Page 22
Around 40% of unsold inventory in Mumbai and Gurgaon arein luxury segment
Source: PropTiger DataLabs Apr’16
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REALTY DECODED Q4 FY’16Page 23
Price Trends: Range Bound……Likely To Remain So?
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REALTY DECODED Q4 FY’16Page 24
Hyderabad recorded the highest annual price appreciationof 6% followed by Ahmedabad
Weighted average^^ BSP (Rs./sq.ft.) of apartment units as on quarter end
City Q4 FY’15 Q4 FY’16 Price Change(Y-o-Y)
Ahmedabad 2,790 2,925 5%
Bengaluru 4,563 4,694 3%
Chennai 4,758 4,893 3%
Gurgaon^ 5,596 5,326 -5%
Hyderabad 3,564 3,793 6%
Kolkata 3,924 3,897 -1%
Mumbai** 8,068 8,220 2%
Noida* 4,162 4,076 -2%
Pune 4,920 4,894 -1%
Notes: ^^ Price weighted on number of units supply in respective projects in a city.* Noida includes Greater Noida and Yamuna Expressway.
** Mumbai includes Navi Mumbai and Thane.^ Gurgaon includes Bhiwadi, Dharuhera and Sohna.Analysis includes apartments across the regions.
Source: PropTiger DataLabs Apr’16
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100
97 97 97
99
99100 101 101
102
106
102104
105 105107
108110
111112 113
113
103104 103 103
104
9998 98 98 97 97 98 97
93
103 104
107108 109
109 112
115
98 98101 101
102 102 100
104105 105 105 105
107 107
99 98 9998
9796
102
106106 106 106
105 105
90
95
100
105
110
115
120
Q1FY'14
Q2FY'14
Q3FY'14
Q4FY'14
Q1FY'15
Q2FY'15
Q3FY'15
Q4FY'15
Q1FY'16
Q2FY'16
Q3FY'16
Q4FY'16
Ahmedabad Bengaluru Chennai Gurgaon Hyderabad Kolkata Mumbai Noida Pune
Inde
x va
lue
(Bas
e: Q
1 FY
’14=
100)
Weighted average price index of residential units in Top 9* cities
Notes: * Top-9 cities are Mumbai (includes Navi Mumbai & Thane), Pune, Noida (includes Greater Noida & Yamuna Expressway), Gurgaon (includes Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.Analysis includes apartments and villas across the regions.
Hyderabad overtook Bengaluru in
absolute return over last 12 quarters
REALTY DECODED Q4 FY’16Page 25
Prices have remained stable across the cities except in Gurgaon, Noida, Kolkata and Pune
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REALTY DECODED Q4 FY’16Page 26
Macro Indicators
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REALTY DECODED Q4 FY’16Page 27
Major policy developments during the quarter
RERA to regulate the residential and commercial real estate. Every project admeasuring 500 sq.m. or more than 8 apartments will have to be registered with the RERA, if not then the developers will have to pay up to 10% of the proj-ect cost as penalty. Real estate agents also need to register with the RERA
The bill mandates the developer to deposit 70% of the project funds in an escrow account for the execution of the same project thereby, ensuring the timely completion of the project
Developers should reveal complete details of the project to the buyers and can not change the project plan unless 2/3rd of the allottees have agreed to it
Going forward the property will be sold on the basis of carpet area instead of super built up area
In case of delay in project completion, the developer is liable to pay the same penal interest as it would levy on defaulting buyers
If any developer violates the order of the appellate tribunal of the RERA, it is liable for maximum of 3 years of imprison-ment and/or an additional fine of 10% of the estimated cost of the project. It will be mandatory for Appellate Tribunals to adjudicate the complaints in 60 days
In case of project deficiency, a buyer can demand for after sales service from developer within one year of taking possession
Real Estate Bill passed in Rajya Sabha to establish the ‘Real Estate Regulatory Authority’ (RERA)
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REALTY DECODED Q4 FY’16Page 28
Major policy developments during the quarter
Union Budget 2016-17 to boost the Indian Real Estate Sector
100% tax rebate from profits incurred by developers in the development of affordable housing projects. In addition, for the first-time home buyers, the deduction of Rs 50,000 on interest component of home loan EMI, where the property is valued up to Rs 50 Lacs and the sanctioned loan amount is less than Rs. 35 Lacs.
Chandigarh: Builders to pay penal interest for delay from date of booking
Chandigarh State Consumer Disputes Redressal Commission ruled that the realtors will be liable to pay penal interest at the rate of 12% per annum from the date of booking for delayed possession
Shimla: No construction in green areas
National Green Tribunal has imposed the ban on constructions in the green areas of Shimla
Real Estate licensing to go online in Haryana
Real Estate licensing to go online in Haryana by June 30, 2016. The entire process starting from the filing of application to their scrutiny, sanction of building plans, payments by developers for external and infrastructure development and Change of Land Use (CLU) will be covered under the online system
Maharashtra Government to delete a clause from its new TDR policy
The Maharashtra Government is considering to delete a clause from its new transfer of development rights (TDR) policy, which disallows utilization of TDR or uploading on plots along roads less than 9m wide, to ease the redevelopment of at least 25,000 old properties in Pune city
TATA Group partnering with Telangana Government to build houses for poor
Tata Group has agreed to partner with Telangana Government in implementing the state's flagship scheme of building two bedroom houses for economically weaker sections
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REALTY DECODED Q4 FY’16Page 29
Key funding transactions during the quarter
Supertech has paid Rs.415 crore to Xander Group for partial exit from the company
Vibhor Vaibhav Infra Projects(VVIP) has raised Rs.120 crore from Reliance AIF to complete the first phase of its project VVIP Addresses’ in Ghaziabad
Peninsula Brookfield Investment Managers funded Rs.95 crore to Mahaveer Group to develop residential projects
Kohlberg Kravis Roberts (KKR) to invest Rs.150 crore in Sunteck Realty’s upcoming luxury residential projects in Mumbai
TDI Infracorp has raised Rs.100 crore from L&T Finance for its ongoing township project at Panipat
Piramal Fund Management to invest Rs.390 crore in 7 residential projects of Puravankara Projects
Sunteck Realty has provided an exit worth over Rs.270 crore to Kotak Realty Fund
Puravankara Projects likely to invest Rs.500 crore in next 5 years for the construction of its first housing project in Hyderabad
TDI Infracorp has given an exit of Rs.165 crore to Kotak Realty Fund, which had invested Rs.110 crore in 2013 in the Lake Grove project in Kundli, Sonepat
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