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<ul><li><keyword id="386983" type="General" weightage="20" keywordseo="Luxury-homes" source="Orion">Luxury homes</keyword> that cost over ₹10 crore, clocked in sales to the tune of ₹11,400 crore in the first half of 2023. </li><li>The preference for 4,000-8,000 square feet homes tripled in the first half of 2023 as compared to 2018, says a report by Sotheby’s International Realty and CRE Matrix. </li><li>Real estate has made a meaningful comeback to UNHI portfolios, says Sotheby’s. </li></ul>What’s common between DMart promoter Radhakrisha Damani and Alia Bhat? Well, apart from being highly successful in their own spheres – business and show biz – they’ve also recently bought luxury homes in the Maximum City. While billionaire Damani spent a whopping ₹1,238 crore for a property at Oberoi Three Sixty West in Worli, Bhat splurged ₹37.8 crore for an address at Aerial View CHSL in Bandra West. Apart from these two, JP Taparia and family who own Famy Care Group, Dubai businessman Jay Mahtani and fashion designer Sandeep Khosla are a few of the big names that have snapped up luxury homes this year. What's more? This tribe, which spends mega bucks for large, spacious homes with spectacular views, is only growing, says a report by Sotheby’s International Realty and CRE Matrix. Luxury homes are defined as those that cost over ₹10 crore and the first half of 2023 has seen sales of a whopping ₹11,400 crore in this segment. “Mumbai had been witnessing around ₹5,300 crore of luxury sales every half year, since 2018. In H1 2023, this number more than doubled to ₹11,400 crore, surpassing even the annual sales of 2018 – 2020,” says Sotheby’s. Amit Goyal, MD India at Sotheby’s International Realty believes that this indicates that real estate has made a meaningful comeback to ultra high-networth individuals’ portfolios. “With wealth creation in India growing at a fast pace, and the country’s wealthiest city Mumbai set to enter the list of top 20 cities with the most number of millionaires by 2023, we believe there’s an inherent strength in Mumbai’s luxury housing market which should continue in the future,” said Goyal. Size does matter Sales of homes that cost around ₹10-20 crore made up for around 71% of sales in the luxury segment, but there has been good traction in homes that cost ₹40-70 crore too, as per the report. Nine homes that cost over ₹70 crore were sold in the first half of the year, while 10 such sold in all of 2022, the report says. In the world of luxe, the size of homes is also growing, as per the report. Most of the luxury homes sold were in the 1,000-2,000 square feet range while the preference for 4,000-8,000 square feet homes tripled in the first half of 2023 as compared to the same period in 2018. “The Richie Rich is now eyeing larger homes than ever before with a clear preference for ocean views, higher floors and amenities galore,” says Abhishek Kiran Gupta, co-founder &amp; CEO, CRE Matrix &amp; IndexTap.

Mumbai’s rich & famous are buying luxury homes for maximum money

<ul><li>DMart’s growth in e-commerce still doesn’t seem as bullish as its competitors.</li><li>DMart in its third quarter earnings said that it’s still going slow with e-commerce with ‘controlled acceleration.” </li><li>The Radhakishan Damani-led company managed to post profits worth ₹470 crore, accounting for a year-on-year growth of 19.3%.</li></ul>One of India’s biggest retail players, DMart, has posted a strong show in its third quarter earnings, but a big part of the investors’ focus was on how India’s second richest man, <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, geared up for competition from the likes of <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>, Amazon and Flipkart. While most brokerages seemed content with the progress made by <keyword id="9012742" type="UNKNOWN" weightage="20" keywordseo="dmart-ready">DMart Ready</keyword> (the e-commerce vertical), the company itself called it ‘controlled acceleration.” <div type="image" title="DMart" msid="80210661" hostid="261"></div> DMart Ready – still going ahead with soft launches By the end of October, 2020, DMart finally gave in to the needs of e-commerce and geared up to take on the next phase of growth with small steps in its online retail offering – DMart Ready. Neville Noronha, CEO &amp; Managing Director of <keyword id="6410316" type="UNKNOWN" weightage="20" keywordseo="avenue-supermarts">Avenue Supermarts</keyword> said that in the third quarter the company continued with the soft launch of DMart Ready in select pin codes of Ahmedabad, Bangalore and Hyderabad. Within their brick and mortar stores, they have also leased space for Avenue E-Commerce Limited (AEL). <div type="image" title="dmart revenue (2)." msid="80210029" hostid="261"></div> But DMart’s growth in e-commerce still doesn’t seem as bullish as its competitors. “Post Covid-19 environment is creating opportunities to launch DMart Ready in more cities. However, we will continue with our approach of small trials, reviews and controlled acceleration for DMart Ready,” he said. Earlier in the second quarter of FY21, the company had said that it would be shutting down two stores in Mumbai and turning them into fulfillment centers for its e-commerce operations. "One each in Mira Road and Kalyan. Both these locations have an alternate DMart store within 4 km," Noronha had said in a statement. Analysts too pointed out the slow growth in e-commerce. "Over the long-term, we like the soft launch of <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">ecommerce</keyword> operations in some cities, however, focus continues to be brick and mortar stores and e-commerce ramp up will be a slow process, in our view," said a report by ICICI Securities. However, analysts also believe that it’s e-commerce steps could make for a substantial long-term growth. “We believe the aggression on e-commerce along with potential market share gains in modern trade channels bodes well for long-term growth sustenance,” said a report by Edelweiss. The report also mentioned competition from heavyweights like India’s richest man Mukesh Ambani’s e-commerce debut JioMart, Walmart-owned Flipkart and global e-commerce giant Amazon as one of the key risks for Avenue Supermarts.“We expect a period of consolidation in the stock with investors waiting to see the impact of aggressive online competition in the grocery space,” said a report by <a href="https://www.financialexpress.com/market/radhakishan-damanis-dmart-hits-fresh-highs-but-analysts-shy-away-from-giving-buy-calls/2168490/">YES Securities</a>. This has further boosted its share price on Monday morning to ₹3,007 (as of 11.15 am). DMart’s stock has already run-up nearly 30% in the last six months and its market cap is nearing ₹2 trillion. <div type="image" title="dmart share jan 11" msid="80210044" hostid="261"></div> Third quarter earnings boost: Brokerages have raised the target price <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3275 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2400 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,864 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2655 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2850 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a> <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on</a>

Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce

<ul><li><keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, founder of Avenue Supermarts is among the top 10 richest persons in India.</li><li>He has a stake in six other companies out of which four are in the green year-to-date.</li></ul>Radhakishan Damani is one of the top 10 richest persons in India, thanks to the blockbuster IPO listing of Avenue Supermarts which runs the <keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword> chain of hypermarkets. Avenue Supermarts went public in 2017, and since then, its share price has increased by more than six times the listing price. Its current market cap is around ₹1,23,000 crore, making it a member of an elite club of companies. However, Damani’s midas touch is not restricted to just DMart. In his portfolio, he has six other listed stocks in which he owns at least 1% stake in the company.

The impact of coronavirus carnage on Radhakishan Damani’s portfolio

<ul><li>According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. </li><li>If Damani takes over India Cement, he is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. </li><li>Moreover, 74-year old Damani will then own 8 listed stocks including <keyword id="6420044" type="UNKNOWN" weightage="20" keywordseo="D-Mart">D-Mart</keyword>, Delta Corporation and Simplex Infrastructure. </li></ul>The 74-year old Radhakishan Damani, India’s second richest person and the owner of Avenue Supermart, has informally shown interest to take over India Cement. The retail king and his family have been buying shares of <keyword id="131875" type="COMPANY" weightage="20" keywordseo="India-Cements">India Cements</keyword> for quite a while now — increasing their holding to nearly 20%, as of March 31. Damani is the founder of Avenue Supermarts — the retail company which runs D-mart stores in India. The chain offers basic home and person use products, groceries, home appliances, garments and more at a bargain. He is among the only three billionaires in India whose wealth rose between March 2019 and March 2020. <div type="Article" hostid="261" msid="75119106" title="Half of all D-Mart stores are shut during coronavirus lockdown⁠— it shows that even the best in business are struggling" mstype="2" mssubtype="0"></div> According to Forbes, Damani added $5.3 billion to his fortunes which now stand at $16.4 billion. He added $2.5 billion in three months between January and March — making him the second richest person in India after Mukesh Ambani. His net worth doubled during the lockdown. Damani was worth $11.1 billion at the end of 2019, according to Forbes real time net worth index. He catapulted into one of the top 10 richest after a blockbuster IPO listing of Avenue Supermarts in 2017. After its debut, the share price of Avenue Supermarts increased more than three times the listing price (₹616). Its current market capitalization is around ₹1.5 lakh crore. If this deal goes through, Damani is said to get richer as the share price of India Cement has surged more than 92% this year — taking its market value to $555 billion. Damani's stock portfolio is not limited to D-Mart. Damani’s stock portfolio <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delta Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VST Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Simplex Infrastructure </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foods &amp; Inns </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spencer’s Retail </td></tr></tbody></table> <a href="https://economictimes.indiatimes.com/markets/stocks/news/radhakishan-damani-said-to-mull-taking-control-of-india-cements-shares-up-10/articleshow/76417676.cms">According to Economic Times</a>, Damani’s control over India Cement will also help India Cement face rivals like UltraTech Cement, Lafarge Holcim Ltd. See also: <a href="https://www.businessinsider.in/business/news/the-impact-of-coronavirus-carnage-on-radhakishan-damanis-portfolio/articleshow/74661795.cms">The impact of coronavirus carnage on Radhakishan Damani’s portfolio</a> <a href="https://www.businessinsider.in/business/news/azim-premjis-generosity-crashed-the-wealth-of-indian-billionaires-by-16-billion/articleshow/75058443.cms">This man’s generosity crashed the wealth of Indian billionaires by $16 billion</a>

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Mumbai’s rich & famous are buying luxury homes for maximum money

Katya Naidu

Pitted against JioMart, Amazon and others, Radhakishan Damani’s DMart has opted for “controlled acceleration” in e-commerce

Sanchita Dash

The impact of coronavirus carnage on Radhakishan Damani’s portfolio

Rounak Jain

DMart owner Radhakishan Damani added more than $5 billion to his wealth in a year — and the billionaire now wants to take over India Cements

Preeti Soni

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