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<keyword id="45432" type="COMPANY" weightage="20" keywordseo="Godrej-Properties">Godrej Properties</keyword> on Wednesday reported a consolidated net loss of Rs 20.23 crore for the April-June quarter of FY 2020-21. During the corresponding period of the last fiscal, the company had reported a consolidated net profit of Rs 89.87 crore. The real estate major reported an 88.63 per cent fall in its revenues from operations during the first quarter of FY 2020-21 at Rs 72.29 crore. In its investor presentation, the company said that due to the Covid-induced lockdown, there was very limited construction activity during the quarter and as a result, no new projects achieved revenue recognition. Cash collections, which depend on construction milestones, were also impacted, it added. "This led to an accounting loss and negative operating cash flow for the quarter," the company said. Commenting on the performance, Pirojsha Godrej, Executive Chairman, Godrej Properties Ltd, said: "While we expect poor reported earnings and cash flows this financial year due to the lockdown and the major impact it has had on our annual construction plan, we expect strong momentum in both portfolio project additions and new project launches during the rest of the financial year." He added that that the current crisis will add further momentum to the process of consolidation that is underway in the sector and the company will continue to focus on rapidly growing its market share. Shares of the company plunged nearly 3 per cent post the earnings announcement. Currently its shares on the BSE are trading at Rs 902.50, lower by Rs 28.70 or 3.08 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-electric-cars-in-india-in-2020/slidelist/77350453.cms">Here’s the list of top electric car launches to watch for in 2020</a> <a href="https://www.businessinsider.in/business/auto/news/bajaj-autos-july-sales-drop-by-a-third-and-the-bigger-dent-came-from-exports/articleshow/77329209.cms">Bajaj Auto's July sales drop by a third and the bigger dent came from exports</a>

Godrej Properties logs ₹20 crore consolidated net loss in the last three months

<ul><li>Bengaluru led the sales growth in Q1 by registering over 20% growth annually.</li><li>Outstanding inventory across the country down 6% YoY and 2% QoQ.</li><li>Prices of properties up 11% in Q1 when compared to the same period a year ago.</li></ul> Residential prices, especially in the Indian metros, are on the rise despite home loan rates being high. Pricing of properties has been robust with an average realisation of Rs 7,200/sq ft, a rise of 11% when compared to the same period a year ago. This is because the demand has remained steady in the first quarter with pre-sales rising 19% when compared annually, as per a <keyword id="152996" type="General" weightage="50" keywordseo="kotak-institutional-equities" source="Orion">Kotak Institutional Equities</keyword> report. It is noteworthy here that the demand has fallen sequentially by 7% but on expected lines as the fourth quarter is seasonally the strongest for the sector. When it came to the metros, Bengaluru led the sales growth in the first quarter by registering over 20% growth annually and managing a 1% growth sequentially as well. This was followed by the National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR). <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td colspan="4" style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Residential Sales At A Glance </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Geography </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Total area sold (mn sqft) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">YoY </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">QoQ </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">23.1 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">NCR </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-33% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">MMR </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">38.7 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">All India </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">234 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr></tbody><tbody></tbody></table> Source: Kotak Report As expected by the market, launch activity slowed a tad, with all-India reading falling 3% YoY and 11% QoQ. Bengaluru was again the leader in this. This has in turn resulted in the outstanding inventory across the country reducing to 1.3 bn sq. ft (down 6% YoY and 2% QoQ) as of June 2023. A recent report by Colliers, CREDAI and Liases Foras had also stated that residential property rates in the leading eight urban centres of India <a href="https://www.businessinsider.in/business/news/housing-prices-surge-7-across-top-eight-metros/articleshow/102604637.cms">surged by as much as 7%</a> year-on-year (Y-o-Y) in this period. Moreover, sector watchers expect that the upcoming festive season will help in further boosting the sales and sustain the momentum through the start of 2024. View on listed players The <keyword id="6543013" type="General" weightage="90" keywordseo="real-estate-sector" source="Orion">real estate sector</keyword> saw a mixed performance by listed players with Lodha and Prestige leading the way. The Kotak report states that Lodha, Prestige and Sobha delivered strong growth, while Oberoi and Godrej were weak in the first quarter. Lodha at Rs 33.5 bn (up 18% yoy and 11% qoq), Prestige at Rs 39 bn (up 30% yoy and 1% qoq) and Sobha at Rs 14.6 bn (up 28% yoy, flat qoq) saw strong pre-sales. Meanwhile, Oberoi at Rs 4.7 bn (down 37% yoy and 29% qoq) and Godrej at Rs 22.5 bn (down 11% yoy and 44% qoq) saw a weak performance in 1QFY24. “We remain constructive on the sector, though the recent stock rally limits upside, making us more selective,” reads the Kotak report. City-wise highlights National Capital Region (NCR): Gurgaon saw a slight sequential increase in inventory. In fact, Gurugram houses 34% (54 mn sq. ft) of the unsold inventory, followed by Greater Noida at 31% (49 mn sq. ft), followed by Noida and Ghaziabad (15% each) at 24 mn sq. ft each. Meanwhile, the Kotak report adds that Noida has seen a sharp increase in prices, with average realisation for 1QFY24 at Rs 12,236/ sq. ft. Mumbai Metropolitan Region (MMR): Thane continues to house ~40% of the unsold inventory in MMR, says the Kotak report. The unsold residential inventory in MMR stood at 257 mn sq. ft as of June 2023, declining by 10% YoY and 4% QoQ. Bengaluru: The IT city saw better sales and pricing performance in 1QFY24 in comparison with NCR and MMR, after having lagged for a few quarters earlier. Hyderabad: Even as launches declined, the pricing momentum sustained during the quarter, with average realisation at Rs7,530/sq. ft. The outstanding inventory for the city is up 9% YoY but down 4% QoQ.

Property sales up 20% in Bengaluru, Mumbai & NCR trail in Q1

<ul><li>Shriram Properties’ IPO opened subscription for investors on Wednesday and will close on December 10.</li><li>The company is looking to raise ₹600 crore through the public listing, out of which ₹250 crore is fresh issue and ₹350 crore is an offer for sale by promoters.</li><li>Shares of the company are demanding a premium of ₹20 in the grey market today.</li><li>Analysts have mixed views on whether to subscribe for the IPO or not after the company booked losses in the past two years due to COVID-19.</li></ul>Shriram Properties, part of the Shriram Group and one of the leading residential real estate development companies in south India, opened its initial public offering (IPO) today, December 8, and will close on December 10. The company primarily focuses on the mid-market and affordable housing segments. Bengaluru and Chennai are the key markets for the company, while it also operates in Coimbatore, Visakhapatnam, and Kolkata. Shriram Properties is well supported by marquee private equity investors like TPG, Tata Opportunities Fund, Walton Street Capital and Starwood, which cumulatively held 58.35% equity stake. Through this IPO, these investors are partially offloading their stake. Adding to it, the company has attracted multiple financial investments from investors like SUN Apollo Ventures, Mitsubishi Corporation, Amplus Capital Advisors, ASK Property Investment Advisors, Motilal Oswal and Kotak Private Equity Group in its projects. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Shareholders selling shares </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;">Number of shares on sale </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;">Omega TC Sabre Holdings </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;">₹90.9 crore </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;">Tata Capital Financial Services </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;">₹8.34 crore </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;">TPG Asia </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;">₹92.2 crore </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;">WSI/WSQI V (XXXII) Mauritius Investors </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;">₹133.4 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The company plans to utilise some of the net proceeds from the IPO towards the company and its subsidiaries’ debt payments and some for general corporate purposes. Keeping aside the company's strong position in the southern part of the country and growth prospects, financial performance of the company has been disappointing. It has reported losses for two consecutive years because its business operations were impacted by COVID-19 induced lockdown and restrictions. <div type="image" title="shriram revenue" height="900" width="1200" msid="88167162" hostid="261"></div> Following this, the IPO has received mixed views from the brokerages suggesting whether to subscribe for the IPO or not. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Brokerages </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;">Recommendation </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;">Kotak Securities </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;">Not rated </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;">Canara Bank Securities </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;">Subscribe for listing gains </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;">ICICIdirect </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;">Unrated </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;">Choice Broking </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;">Subscribe </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> While the company has already suffered losses due to pandemic related restrictions, it may again get impacted as the new COVID variant cases are increasing day-by-day. “The COVID-19 pandemic may affect company’s business, results of operations and financial condition, in the future, in a number of ways which includes delays in the completion of construction of properties on account of the lockdown and work stoppages, affecting ability of customers to visit sales offices and undertake in-person discussions, inability to access capital on commercially acceptable terms and company’s ability to execute growth strategies and identify and complete acquisitions,” said analysts at ICICIdirect in a brokerage note. Ravi Singhal, vice chairman at GCL Securities said that, “Company is posting losses from the last two years and its revenue has reduced significantly since the 2019 level. These losses may extend further this year looking at the Omicron scenario. This company is part of the reputed Shriram Group, but that cannot be the only point to apply for this IPO. Clearly investors cannot apply for this IPO for listing gain; one may apply for long-term holding based on their risk appetite.” However, some analysts feel that the company’s leading position in the residential segment along with strong execution quality will take the company a long way. “Company is one of the leading residential real-estate developers in south India and focuses on mid-market and affordable housing categories. We believe that the company has a strong track record of delivering the project on time and can maintain strong execution which will get reflected in the pre-sales numbers going ahead. Hence, we are assigning a “SUBSCRIBE” recommendation to the Shriram Properties Limited IPO,” said Yash Gupta, equity research analyst at Angel One. Here is how Shriram Properties’ peers performed this year: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in 2021 </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹69,722 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">210.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹7,856 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sobha </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹8,225 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brigade Enterprises </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11,658 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">103.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹17,860 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">67.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DLF </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹97,898 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">65.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Oberoi Realty </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹32,049 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">49.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Godrej Properties </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹23,601 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">41.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kolte-Patil Developers </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,397 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">29.00% </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sunteck Realty </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹6,593 crore </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">26.00% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/no-need-for-new-crypto-regulator-in-india-says-crosstower-ceo/articleshow/88165815.cms">INTERVIEW: 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Although Shriram Properties has solid future prospects, Omicron may mess things in the near term

New Delhi, Jul 12 () Leading realty firm Godrej Properties is well placed to maintain its growth momentum this fiscal despite headwinds due to the COVID-19 pandemic, and will look to increase market share as well as add projects available at a distressed valuation, a top company official said. In his message to the company's shareholders in the annual report, Godrej Properties Executive Chairman Pirojsha Godrej said the housing demand will certainly be impacted due to the economic slowdown caused by the pandemic. However, he said the demand from prospective homebuyers will further consolidate towards large organised developers with better track record in execution. Moreover, Godrej said the affordability has increased due to low interest rates and stable prices over the past seven years. Home ownership would also gain currency due to lockdown. Godrej Properties achieved a sales booking of Rs 5,915 crore during the last fiscal, the highest by any listed real estate developer. "While we are pleased with the year gone by, it is clear that the current year will bring new challenges and opportunities. Resilience and agility will be critical to ensure that we emerge stronger from this crisis," said Pirojsha. The economic growth is likely to be in negative during the current financial year and the COVID-19 crisis is leading to significant amounts of job cuts and salary reduction, he said adding that this would certainly impact demand for high-value purchases such as housing. "Despite these headwinds, we believe we are well placed to maintain our growth momentum in the current financial year... We are prepared to withstand a possible downturn in the sector -- however bad it gets," said Pirojsha. The Godrej Properties chairman said the company would focus on capturing opportunities that might arise as a result of this crisis. "The most important opportunity will be to gain market share. Our strong business development over the past few years has ensured that our launch pipeline is the best it has ever been. We will be agile and ready to launch these projects and thereby gain share while most of our peers are focused on liquidating their current inventory," he said. The new launches of projects would drive cash flows and earnings growth over the medium term. "We will be open to the opportunity to further strengthen our portfolio if projects become available at distressed valuations," said Pirojsha. He said the company remains committed to medium-term goals -- to consistently be among the leading developers by value of residential real estate sales in core markets, and to consistently deliver a return on equity (ROE) in excess of 20 per cent. "Despite continued disruptions the real estate sector has faced including the current pandemic, we believe we are on track to achieve these goals," Pirojsha said. The company's sales bookings in 2019-20 grew 11 per cent to Rs 5,915 crore, and resulted from the sale of 7,415 homes with a total area of 8.8 million sq ft. This averages to over 20 homes per day. "We sold more than 1.1 million sq ft with a booking value of over Rs 1,000 crore in each of our four focus markets of MMR (Mumbai Metropolitan Region), Pune, NCR and Bengaluru," Pirojsha said. On execution of projects, he said the company's strategy to shift from labour-intensive forms of construction to precast construction would help reduce project-completion timelines. This will also reduce the gap between operating results and reported accounts, enhance project returns, and enable faster turnaround of capital. "Our balance sheet is strong with net debt to equity at the end of Q4 FY20 standing at 0.24 to 1. Our equity raise of Rs 2,100 crore in Q1 FY20 has ensured that we have a significant surplus liquidity to withstand any temporary liquidity and demand shocks that may arise," Pirojsha said. Godrej Properties, the real estate arm of the Godrej group, posted a net profit of Rs 267.21 crore over a total revenue of Rs 2,914.59 crore during the last financial year. MJH HRS

Godrej looks to gain mkt share, add distressed projects amid COVID-19 pandemic

New Delhi, May 12 () The nationwide lockdown to contain COVID-19 will have a negative impact on the real estate sector in the short term, affecting sales and cash-flow of builders, while accelerating the pace of consolidation in the sector, Godrej Properties said. However, the company said it would continue to grow, helped by its brand image and various projects lined up to be launched. It had clocked record sales booking of nearly Rs 6,000 crore during the last fiscal year. In its investor presentation, the Mumbai-based firm said: Due to the nationwide lockdown, existing construction activity has come to a halt which will extend construction timelines. The company employs around 10,000 construction workers at its sites across India and is in good position to resume construction at most projects once the lockdown is lifted, it added. On impact on sales bookings, Godrej Properties said, it expects to see a significant short-term reduction in sectoral sales. However, the company said its strong project pipeline and brand would enable to deliver continued growth. "Liquidity situation for the sector will worsen with banks and non-bank financial companies (NBFCs) getting more risk-averse, resulting in funding issues for many developers," the company said. Godrej Properties said that its short-term cashflows, too, will be impacted, but the company has a strong balance sheet and is in a good position to operate its existing projects. Consolidation within the residential real estate sector is likely to accelerate further, it said, adding that well-capitalised players with good brands and execution capabilities are expected to continue to gain substantial market share. Godrej Properties on Monday reported a 35 per cent fall in its consolidated net profit at Rs 101.08 crore for the quarter ended March as against Rs 156.66 crore in the year-ago period. Total income, however, rose to Rs 1,288.17 crore in the fourth quarter of the last fiscal year from Rs 1,203.21 crore in the previous year. Net profit rose to Rs 267.21 crore during the full 2019-20 financial year from Rs 253.15 crore in the previous year. The total income fell to Rs 2,914.59 crore during the last fiscal year from Rs 3,221.98 crore in the 2018-19 financial year. Godrej Properties' total sales bookings stood at Rs 5,915 crore and 8.80 million sq ft during the last fiscal year. In 2018-19, the sales bookings stood at Rs 5,316 crore and 8.76 million sq ft. The company said this is its highest ever sales bookings in a financial year and possibly the highest booking value achieved by any publicly listed real estate developer in India in FY20. Pirojsha Godrej, Executive Chairman, Godrej Properties, said: "While the real estate sector is likely to be significantly impacted for the next few months, we believe there will be continued opportunities for credible developers with strong brands as the process of consolidation that has been underway in the sector gathers pace." "While the start of FY21 may be muted, our strong project pipeline and healthy balance sheet will help maintain sales momentum in FY21," ha had said. MJH ANSANS

Realty sector consolidation to accelerate as lockdown hits sales, cash-flow of builders: Godrej Prop

The outlook for <keyword id="19951618" type="General" weightage="20" keywordseo="residential-real-estate" source="keywords">residential real estate</keyword> will be strong in the financial year (<keyword id="19965933" type="General" weightage="20" keywordseo="FY25" source="keywords">FY25</keyword>), as the domestic residential market performed exceptionally well in FY24, said JM Financial in its estimate. As per the estimation for FY25, the market will grow by 18 per cent, with 12 per cent coming from an increase in the number of units sold and 6 per cent due to higher prices. Additionally, it expects that the supply will grow moderately, matching the demand for new purchases throughout the year. The domestic residential market performed exceptionally well in FY24, reaching its highest-ever absorption rate; pan-India absorption rose by approximately 20.1 per cent YoY (basis area absorbed), while supply increased by about 11.5 per cent YoY, as a result, <keyword id="21396778" type="General" weightage="20" keywordseo="inventory-levels" source="keywords">inventory levels</keyword> in cities dropped to a record low of 12 months, the report mentioned. During FY 24, the sector recorded an average YoY price increase of 9.0 per cent, indicating an overall <keyword id="20995863" type="General" weightage="20" keywordseo="market-growth" source="keywords">market growth</keyword> of 29 per cent. This positive trend, according to the report, is also evident in pre-sales for listed companies, which grew 39.5 per cent YoY, indicating that market share gains continue for the listed/Tier 1 developers. "With historically low inventory levels, increasing disposable income, and limited supply expansion, the residential real estate sector is set to continue its upward trajectory," the report added. "While supply is expected to grow steadily going forward, we expect inventory levels to be maintained at healthy levels on the back of robust absorption, given the buoyant demand scenario. Additionally, while cash flows are anticipated to grow substantially, developers are likely to prioritise business development over deleveraging," JM Financial said in its outlook. FY24 saw a best-ever year for absorption across residential real estate with pan-India sales crossing a billion square feet mark, as per the report. Since FY21, pre-sales in the top 7 markets have largely been ahead of new launches, leading to a sharp reduction in inventory levels to 11 months. Among the listed players, Godrej, Prestige, Signature and Brigade delivered very strong growth in FY24, as per the report. Observing an ushering trend, the report added that real estate companies have started diversifying into new micro markets to reduce dependence on core regions and capture growth opportunities. With greater preference for branded and high-end products, Tier 1/listed developers are aiming to gain market share from the fragmented/informal segment of the industry, the report added. Citing the data from Propequity it stated that the industry has seen <keyword id="23063673" type="General" weightage="20" keywordseo="Tier-1-developers" source="keywords">Tier 1 developers</keyword> gaining market share from the informal segment. The top 10 publicly listed developers have increased their market share by around 8 percentage points since 2019. In Tier I cities, the demand for luxury properties has grown significantly since FY22. Post-Covid, there is a growing preference for spacious, well-equipped residences that cater to remote work needs and offer enhanced security features, it added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

'Home run' continues, FY25 to be another strong year after a robust demand in FY24: report

<ul><li>Stocks of top developers ran up by over 40%, and a few even doubled in the last three months.</li><li>At these prices, most of the real estate sector’s upcycle has been priced in, say experts.</li><li>With good land banks, and new launches most large players are expanding business, but investors are advised to wait for better entry points. </li></ul>Indians love buying property and this has fuelled a real estate upcycle since <keyword id="19896627" type="General" weightage="20" keywordseo="covid" source="keywords">Covid</keyword> struck. But investors looking to take fresh bets on real estate stocks must be cautious due to the sharp run seen in most of the stocks in the last three months. Stocks of top developers ran up by over 40%, with a few outliers like <keyword id="20074586" type="General" weightage="20" keywordseo="sobha" source="keywords">Sobha</keyword> that doubled in the last three months. At these highs, the sector’s valuations are stretched, say a few analysts. “Developer stocks doubled in 2023 taking the sector to peak multiples. Expectations are high and easy scaleup is now behind,” said a report by <keyword id="19905137" type="General" weightage="20" keywordseo="jefferies" source="keywords">Jefferies</keyword>, downgrading <keyword id="20188869" type="General" weightage="20" keywordseo="prestige" source="keywords">Prestige</keyword> to ‘underperform’, Sobha to ‘hold’. CLSA also downgraded top stocks like DLF, Prestige and Sobha as it believes the upcycle has priced in after the recent run-up. “Property stocks have gone up sharply over the past three months and our reverse DCF valuation implies very high growth built into current prices, which we believe will be difficult to achieve considering cyclicality,” it said in its recent report. There could be another trigger ahead with a possible affordable housing push announced in the upcoming Union Budget, as well as news of new launches by developers. “We believe the resultant growth from such events is already built into our estimates. We thus expect stocks to consolidate in 2024,” CLSA said. Real estate sector returns <table style="border-width: initial; border-style: none;"></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;">Company </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;">3-month returns </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;">1 year returns </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;">DLF </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;">45% </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;">112% </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;">Sobha </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;">105% </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;">149% </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;">Prestige Estates </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;">73.5% </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;">196% </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;">Godrej Properties </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;">41.7% </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;">89.7% </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;">Macrotech (Lodha) </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;">44.9% </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;">109% </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;">Sunteck Realty </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;">3.9% </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;">19.8% </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;">Oberoi Realty </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;">38.7% </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;">81.9% </td></tr></tbody></table>Source: BSE Double-digit demand but will cool off 2023’s highs The Indian residential market is in the middle of an upcycle. In the last three years, home sale volumes have doubled. In 2023, volumes surged around 25%. Consumer demand is expected to be robust in 2024, and companies are poised for growth with. But the sector might not be able to replicate the growth rate seen in the last two years. “A seven-year long weak phase for the residential market implies significant headroom for vols to rise in the medium term. As the housing upturn enters its fourth year in 2024, vols growth should cool down but still post around 10% year-on-year growth,” says Jefferies. CLSA also pegs housing demand to grow at 12% in 2024. It also believes that the large players will be able to post post industry-beating growth rates of 15-20%. That’s because the top-end of the residential real estate market, in particular, has been racing ahead. Recently, DLF was able to offload 1,137 apartments in its Gurgaon project within three days. They carried a price tag of ₹7 apiece. In line with the demand growth, most developers had accelerated their inventory addition. Godrej added ₹32,000 crore worth of gross development value (GDV) in FY23 against the guidance of ₹15,000 crore. <keyword id="20070786" type="General" weightage="20" keywordseo="macrotech" source="keywords">Macrotech</keyword> also surpassed its business development guidance of ₹15,000 crore by adding ₹19,800 crore worth of GDV in FY23. As of FY24, most of these players are also expected to add to their land banks. “With robust balance sheets, low cost of capital and strong brands, organized players are at an advantage in adding new business development and are positioned for further market share gains,” said HDFC Securities Institutional Research. But this growth also brings up the pace of unsold inventory worries that had dogged the players for a long time before the upcycle set in. “While sales growth was strong, the volume of launches exceeded that of sales causing unsold inventory levels to rise by 5% YoY. And as overall market traction has shifted toward the mid and premium segments, so has that of the unsold inventory,” said CLSA. With more sales on the horizon and sharp uptick in construction activities, the sector is all set to see good cash flow gains through 2024. The fundamentals are all in place, but investors have to wait for better entry points into these stocks, advise analysts.

Realty stocks trading at peak valuations, analysts recommend entry after correction

<ul><li>Keystone Realtors plans to raise ₹560 crore through a fresh issue of shares through the IPO along with an offer for sale of ₹75 crore.</li><li>The price band of the IPO is set at ₹514-541 a share.</li><li>IPO proceeds will be utilised towards debt repayment, funding acquisition of future real estate projects, and general corporate purposes.</li></ul>The initial public offering (IPO) of Keystone Realtors, which operates under the brand ‘Rustomjee’, is set to open on Monday, November 14 and close on November 16. This will be the first real estate company to raise money from primary markets this year. Keystone Realtors plans to raise ₹635 crore through the IPO – ₹560 crore of it through a fresh issue of shares and ₹75 crore through an offer for sale by promoters and existing shareholders. The price band of the IPO is set at ₹514-541 a share. IPO proceeds will be utilised towards debt repayment, funding acquisition of future real estate projects, and general corporate purposes. The company is in the business of real estate construction, development and other related activities in India. As of June 30, 2022, it had 12 ongoing projects and 21 forthcoming projects across the Mumbai Metropolitan Region (MMR), under affordable, mid and mass, and some premium categories. As of June 30, 2022, it had developed 32 projects, over 280 buildings, 20.22 million square feet area (including infrastructure) and homes for over 14,000 families. Further, total borrowings of the company increased to ₹1,557 crore in FY22 from ₹1,220 crore in FY21. The company added that the development of real estate projects involved significant expenses, a large part of it funded through financing from banks and other financial institutions. The company mentioned in its RHP that it may face issues in raising additional loans. “Moreover, certain of our loan documents contain provisions that may limit our ability to incur future debt, make certain payments or take certain actions,” it said. In FY22, the real estate company’s net profits slumped 41% from a year earlier to ₹136 crore while revenue rose 50% to ₹1,269 crore. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Particulars </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;">Revenue from operations </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;">Net profit </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;">FY22 </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;">₹1,269 crore </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;">₹136 crore </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;">FY21 </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;">₹848 crore </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;">₹231 crore </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;">FY20 </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;">₹1,211 crore </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;">₹14 crore </td></tr></tbody></table> During Covid-19, its business operations were significantly disrupted due to the lockdowns – with delays in construction, inability to meet timelines and liquidity constraints. “The Covid-19 pandemic has had, and may continue to have, repercussions across local, national and global economies and financial markets. Various governments and organisations have revised GDP growth forecasts in response to the economic slowdown caused by the spread of the Covid-19 pandemic, and the Covid-19 pandemic may result in a prolonged global economic crisis or recession,” said the company in its red herring prospectus (RHP). Lodha group company Macrotech Developers, Godrej Properties are among the company’s competitors and most of these have delivered poor stock market returns in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Peer companies </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;">Revenue from operations in FY22 </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;">Profit after tax </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;">% returns in 2022 </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;">Macrotech Developers </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;">₹9,233 crore </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;">₹1,208 crore </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;">-23% </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;">Godrej Properties </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;">₹1,824 crore </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;">₹350 crore </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;">-32% </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;">Oberoi Realty </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;">₹2,693 crore </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;">₹1,047 crore </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;">0.19% </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;">Sunteck Realty </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;">₹513 crore </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;">₹25 crore </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;">-23% </td></tr></tbody></table>(RHP and BSE) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/buy-on-dips-say-analysts-as-indian-markets-bounce-back-smartly-in-october/articleshow/95454116.cms">Buy on dips, say analysts, as Indian markets bounce back smartly in October</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">Grey market premium – what is it and where is it coming from</a>

Rustomjee Group firm Keystone Realtors set to open ₹635-crore IPO on Monday

<ul><li>Housing Development Finance Corporation’s individual loan disbursements rose rapidly by 181% on year in June quarter.</li><li>The leading housing finance company sees strong demand for home loans since many locations have unlocked post covid.</li><li>Real estate company stocks have been gaining since the last 30 days hoping for a recovery.</li></ul>The largest private housing finance company in India said that demand had improved in both the affordable segment as well as in high-end properties. While the company’s net profit declined marginally to ₹ 5,310 crore from ₹5,669 crore same time last year, Housing Development Finance Corporation (HDFC) saw a 181% growth in individual loan disbursement in June quarter 2021. "HDFC surprised the street with almost steady asset quality performance during a quarter when most peers in housing as well as other asset finance sectors have reported a significant rise in stressed loans," said Kotak Institutional Equities in its report dated August 3. <div type="image" title="HDFC net profit revenue" height="900" width="1200" msid="84972826" hostid="261"></div> Home loan disbursement refers to the release of the credit amount by the bank or financial institution to the borrower. “While disbursements during April and May of the current financial year were somewhat impacted, business has reverted to normalised trends in the months of June and July,” said the company while announcing its June quarter results. This is a trend that has continued for the last few quarters with exceptions in the month of April and May 2021 when the second wave of the pandemic struck. Watch the company’s Chief Executive Officer Keki Mistry expressing similar optimism in a conversation with <a href="https://www.businessinsider.in/business/news/watch-the-ceo-of-indias-largest-home-loan-company-says-people-are-going-for-bigger-homes-thanks-to-the-lockdown/articleshow/80894790.cms">Business Insider in </a>February this year. This has helped real estate stocks sustain the rally seen over the last one month. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Top five realty stocks </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;">Gains on Aug 2 </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;">Last 30 days </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;">DLF </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;">4% </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;">25% </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;">Oberoi Realty </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;">9% </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;">16% </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;">Godrej Properties </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% </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;">17% </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;">Indiabulls Real Estate </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;">3% </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;">33% </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;">Prestige Estates Projects </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;">7% </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;">26% </td></tr></tbody></table> India’s real estate sector has been in a limbo for a few years now. The pandemic made it worse and, despite steady cuts in benchmark interest rates by the Reserve Bank of India (RBI), the recovery has been slow, to put it mildly. According to latest data from property consultants at Anarock, over 1.74 lakh under-construction homes ⁠— estimated to be worth over ₹1.4 lakh crore (about $20 billion) are stuck across the top seven cities in India. These projects were launched before 2014 but have not been completed since. The total number of properties under construction in India exceeds 626,000. Even HDFC’s earnings statement noted that people preferred ready-to-move properties compared to those under construction. Many of those who have taken home loans are also struggling to repay. Individual non performing assets (NPAs) increased due to slippages after the impact of the second wave of the pandemic. <div type="image" title="HDFC chart 2" height="900" width="1200" msid="84971003" hostid="261"></div> However, the outlook for real estate stocks has been so bad that investors are craving for any amount of optimism. And, some of it has been available for those seeking it. Macrotech Developers, the owner of the Lodha brand of properties ⁠— one of the biggest developers in India ⁠— clocked a total sales booking of ₹957 crore in June quarter, of which ₹654 crore came in June. <div type="image" title="Macrotech developers chart" height="900" width="1200" msid="84971027" hostid="261"></div> "We expect the sector to outperform in coming years wherein companies like DLF, Oberoi Realty, Godrej Properties, Phoenix Mills, Brigade enterprises, Indiabulls Real Estate and Sobha, which collectively contribute 87% of Nifty Realty Index, are poised to generate above-average returns in years to come and should be considered as long-term investment bets in portfolios," broking firm <a href="https://www.business-standard.com/article/markets/realty-shares-in-demand-oberoi-prestige-estates-indiabulls-sobha-up-5-121080200316_1.html">ICICIdirect</a> recently said. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-news-birla-offers-to-give-up-his-27-stake-in-vodafone-idea/articleshow/84969189.cms">Birla offers to give up his 27% stake in Vodafone Idea to keep phones of 27 crore Indians ringing </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing </a>

India’s largest home loan provider HDFC has given real estate stocks another reason to rally

<ul><li>Latest estimates from the Rhodium Group say that the emissions of greenhouse gases from China crossed that of the world’s largest polluter, the United States, in 2019 itself.</li><li>China curtailed its factories to cut back carbon emissions and despite that, its steel production broke a new record in April 2021.</li><li>If the carbon emissions from China are already worse than developed economies, it could mean more production curbs in the country in the near future.</li><li>That could result in higher prices for Indian steel makers who are trying to bridge the global supply gap.</li></ul><keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword>, one of India’s top steel makers, has seen its profit balloon nearly eight times in the last one year, and its share price four times. The story is similar for many of its peers too. The party in Indian metal stocks could continue if shareholders consider the estimated emissions from China. Latest estimates from the Rhodium Group, a think tank that watches China closely, says that the emissions of greenhouse gases from China crossed that of the world’s largest polluter, the United States, <a href="https://rhg.com/research/chinas-emissions-surpass-developed-countries/">in 2019 itself</a>. <div type="image" title="China GHG emissions 2019" msid="82451121" hostid="261" caption="&amp;lt;p&amp;gt;Top eight emittors of greenhouse gases in the world in 2019&amp;lt;/p&amp;gt;"></div> Now, over the last one year, the US and Europe are in rebuilding mode as the global economy slowly opened up after the first wave of the COVID-19 pandemic subsided. At the same time, China curtailed its factories to cut back carbon emissions. Tangshan, in China’s Hebei province, is a large hub that produces <a href="https://www.argusmedia.com/en/news/2211280-imports-other-regions-fill-tangshan-steel-supply-gap">over 144 million tonnes of steel in a year</a>. Beijing has ordered to bring that down by 30% to 50% and, then, extended the cut to the end of the year. When a major producer of steel cuts back output, others, outside of China, may gain from rising prices. Despite that, China Iron &amp; Steel Association (CISA) <a href="https://www.metalbulletin.com/Article/3986184/Cisa-member-mills-crude-steel-output-hits-record-high-in-mid-April.html">data</a> showed that steel makers in China broke a new production record in April 2021. Every tonne of steel produced in 2018 emitted on average 1.85 tons of carbon dioxide according to an estimate from McKinsey, an international consulting firm. If the carbon emissions from China are already worse than developed economies, it could mean more production curbs in the country in the near future. That could result in higher prices for Indian steel makers who are trying to bridge the global supply gap. “We estimate steel margins to peak in Jan-March 2022 and moderate to sustainable levels,” said a Kotak Institutional Equities report on Tata Steel dated May 7. Shareholders of Tata Steel, which is up 300% in the last one year ⁠— and at an all-time high ⁠— may have more gains to look forward to. It is not just steel, China’s curbs on factories have helped makers of other miners and metal products too. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Stock </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;">Gains in the last one year </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;">Tata Steel </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;">311% </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;">JSW Steel </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;">330.14% </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;">Hindalco (India’s largest aluminium maker) </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;">230.3% </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;">SAIL (State-owned steel maker) </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;">383.27% </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;">NMDC (India’s largest iron ore miner) </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;">136.78% </td></tr></tbody></table> However, a word of caution is warranted. The same report shows that India, too, has seen a sharp rise in carbon emissions in recent years. The country had emitted more greenhouse gases than all of Europe at the end of 2019. If that was the downside to the environment due to increased production of steel in India, the rising price of steel is a big blow for sectors like automobiles, infrastructure construction, and real estate, which buy steel in bulk. Companies like Maruti Suzuki, Mahindra and Mahindra, and Tata Motors have already been squeezed between a fall in demand for cars and rising prices of key inputs. The cheer of a demand revival post the monsoon of 2020 was cut short by the second wave of the pandemic and the rising cost of making vehicles. Any further rise, without <a href="https://www.businessinsider.in/business/auto/news/maruti-will-take-on-mm-hyundai-and-kia-in-suv-segment/articleshow/82370751.cms">the ability to hike the price of cars</a>, may further squeeze profit margins. The same would hold true for makers of trucks and buses too. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Car maker </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;">Loss of share value in last three months </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;">Force Motors </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;">-17.1% </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;">Ashok Leyland </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;">-13.5% </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;">M&amp;M </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;">-12% </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;">Maruti Suzuki </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;">-10.6% </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;">Tata Motors </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;">-3.7% </td></tr></tbody></table> Real estate developers in India have a similar problem. Rising prices of cement and steel over the last one year have compounded the problem. The increasing uncertainty over livelihoods and the future of industry and employment had already <a href="https://www.indiatoday.in/business/story/real-estate-sector-hit-as-covid-disrupts-housing-sales-project-launches-1798377-2021-05-03">reduced the number of buyers in the market</a>. Companies like DLF, Godrej Properties and their peers may watch commodity prices closely in the days to come. “The sudden and continuous upsurge in prices of steel, cement and other key raw materials used in construction has massively increased the overall construction cost for developers. This is a huge burden for all players - but again, it is the smaller, cash-starved builders who are most affected,” Akash Pharande, Managing Director of Pune-based developer Pharande Spaces, said in a statement. “Unchecked construction costs ultimately impact project deliveries and result in stalled projects in many cases… Developers are challenged to incorporate the additional construction costs without adding further to the burden of their customers,” he added. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Stock </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;">Loss of share value in last 3 months </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;">DLF </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;">-15.2% </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;">Godrej Properties </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;">-10.7% </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;">Oberoi Realty </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;">-4.5% </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;">Phoenix Mills </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;">-5.6% </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;">Prestige Estate </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;">-2.17% </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/india/news/there-will-be-three-flights-from-india-to-australia-starting-may-15-for-the-estimated-9000-people-looking-to-return/articleshow/82450220.cms">There will be three flights from India to Australia starting May 15 for the estimated 9,000 people looking to return</a> <a href="https://www.businessinsider.in/business/startups/news/heres-why-zomato-is-reportedly-cutting-a-300-million-cheque-for-grofers/articleshow/82450062.cms">Here’s why Zomato is reportedly cutting a $300 million cheque for Grofers</a> <a href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-are-cheaper-than-what-they-were-a-year-ago-and-what-could-revive-the-investment-if-at-all/articleshow/82448509.cms">Yes Bank shares are cheaper than what they were a year ago — and what could revive the investment, if at all</a>

China has broken another emissions record ⁠— and it is good news for some Indian companies

New York, Do you find drinking <keyword id="6359858" type="UNKNOWN" weightage="20" keywordseo="alcohol">alcohol</keyword> pleasurable? If so, you are more likely to develop an alcohol use disorder (AUD), a <keyword id="1243099" type="PERSON" weightage="20" keywordseo="new-study">new study</keyword> suggests. The findings, published in the American Journal of Psychiatry, indicate that individuals developing an AUD are more likely to be sensitized to the <keyword id="79322" type="PERSON" weightage="20" keywordseo="effects">effects</keyword> of alcohol -- that is, they experience a stronger positive <keyword id="61262" type="ORGANIZATION" weightage="20" keywordseo="response">response</keyword> -- rather than habituated to the substance with a lower level of response. "These pleasurable alcohol effects grow in intensity over time, and do not dissipate, in people progressing in excessive drinking," said lead author Andrea King, Professor at the University of Chicago in the US. "This tells us that having a higher sensitivity to the rewarding effects of alcohol in the brain puts such individuals at higher risk for developing an addiction," King added. For the study, the team followed a cohort of 190 young adults in a laboratory-based binge drinking scenario at three regular intervals over the course of 10 years.When retested on their responses 10 years later, those who became alcoholics had the highest levels of alcohol stimulation, liking and wanting - and these were heightened compared to their baseline with no signs of tolerance to these pleasurable effects. The study showed that higher sensitivity to the euphoric and rewarding effects of alcohol can predict who will go on to have an AUD as they progress through their 20s and 30s. "Our results support a theory called incentive-sensitization," said King. "In response to a standard intoxicating dose of alcohol in the laboratory, ratings of wanting more alcohol increased substantially over the decade among the individuals who developed more severe AUD. Additionally, the hedonic response -- essentially, how much a person liked the effects -- remained elevated over this interval and didn't go down at all. This has traditionally been the crux of the lore of addiction -- that addicts don't like the drug (alcohol) but can't stop using it," King added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-tcs-ril-maruti-airtel-godrej-properties-oberoi-realty-sobha-and-others/articleshow/80145182.cms">Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/india/news/petrol-has-reached-an-all-time-high-in-delhi-after-a-hike-of-23-paise/articleshow/80146505.cms">Petrol price is now past ₹84 in Delhi, over 62% of it is taxes</a>

Enjoy alcohol? A new study says it could lead to liquor related disorder

<ul><li>Madison Media has fully acquired Kolkata based full service digital agency, Crow’s Nest.</li><li>Crow’s Nest was founded 14 years ago by <keyword id="244811" type="PERSON" weightage="20" keywordseo="Samrat-Mukherjee">Samrat Mukherjee</keyword>, a well-known person in the Kolkata marketing and digital space. </li><li>The agency has a staff strength of 40 people and counts among its clients Bandhan Bank, Zee Bangla, Vivo West Bengal, M P Birla Group and several other reputed clients.</li></ul> Madison Media has announced that it has fully acquired Kolkata based full service digital agency, Crow’s Nest. Crow’s Nest was founded 14 years ago by Samrat Mukherjee, a well-known person in the Kolkata marketing and digital space. The Agency has a staff strength of 40 people and counts among its clients Bandhan Bank, Zee Bangla, Vivo West Bengal, M P Birla Group and several other reputed clients. Crow’s Nest offers 360 degree digital solutions. Under the arrangement, Crow’s Nest will fully integrate with Madison Digital and operate as Madison Digital Kolkata with Samrat Mukherjee reporting to <keyword id="3173931" type="PERSON" weightage="20" keywordseo="Vishal-Chinchankar">Vishal Chinchankar</keyword>, CEO, Madison Digital. Says Samrat Mukherjee, “We are thrilled to be joining with <keyword id="160492" type="COMPANY" weightage="20" keywordseo="Madison-World">Madison World</keyword>. With our creative strategy, media and digital content creation strength, paired with Madison's core of media, data and analytics, we truly believe to deliver the most value to our clients. May new ambitions be laid. May new dreams be hatched. May this new association go miles as the Crow flies.” Says <keyword id="32716" type="PERSON" weightage="20" keywordseo="Sam-Balsara">Sam Balsara</keyword>, Chairman, Madison World, “I am delighted to welcome Samrat Mukherjee and his team into the Madison fold. Many companies find Madison to be a good collaborative partner to grow their business independently with our support. A few more collaborations are on the cards in the area of Digital, PR and Creative”. Says <keyword id="89313" type="PERSON" weightage="20" keywordseo="Vikram-Sakhuja">Vikram Sakhuja</keyword>, Partner &amp; Group CEO, Madison Media, “In keeping with our Digital growth acceleration we are thrilled to welcome Samrat and his vibrant Crow’s Nest team into the Madison fold. Not only will Crow’s Nest help grow our overall Digital practice in Kolkata Office, but it will also add considerable heft to Madison’s Social, Content and Creative agenda.” Madison World is a diversified Communication group with specialist units in Advertising, Media, Business Analytics, Out-of-Home, Activations, Events, PR, Mobile, Retail, Sports and Entertainment; employing about 1000 communication professionals across India, Bangladesh and Thailand. Visit us at www.madisonindia.com Says Vishal Chinchankar, CEO Madison Digital, “I am very excited to have Samrat become a part of Madison and my team. This deal will make us one of the largest digital players in the Kolkata market and am looking forward to a long a mutually rewarding partnership”. Madison Digital, has grown 10x in terms of billing in the last 3 years, to become a 150 employee strong unit with capabilities in Branding, Performance &amp; Creative solutions. Madison Digital has built its proprietary cloud marketing and automation tools and is one of the few agencies with its own DMP &amp; Tech solutions. The Agency today handles digital assignments for Godrej Properties, Asian Paints, Abbott, Marico, McDonald’s, <keyword id="7636498" type="UNKNOWN" weightage="20" keywordseo="tata-consumer-products">Tata Consumer Products</keyword>, Blue Star, and several others. Recently, Madison Digital was declared the Best Digital &amp; Social Media Agency of the Year 2020 at IDMA 2020. Madison Digital was also voted Agency of the Year at Digies Digital Awards 2019, and Mobile Media Agency of the Year at IDMA Digital Awards 2019, in addition to winning over 100 awards since January 2019. Madison World’s 2 nd Agency in the Digital space based in Bangalore, Hiveminds is a Bengaluru based full service digital marketing Company and Consultancy with specialization in Search, Display and Programmatic buying. The agency also provides social media management, creative content, digital PR, analytics and strategic consulting. The company owns unique technology, tools and data analytics methodologies that enables it to deliver outstanding results to its clients. The Company works with clients such as Domino’s, Nivea, Big Basket, Escorts Limited, Cure.fit, MobiKwik and many others. Madison Media is a part of Madison World, India’s largest homegrown communication Agency established in 1988. Madison World through its 11 companies served last year, as many as 500 advertisers.

You Searched For "Godrej Properties results" and got 12 results

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Enjoy alcohol? A new study says it could lead to liquor related disorder

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Madison Media acquires Kolkata-based Digital Agency, Crow’s Nest

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