Latest news with #928
Hans India
5 days ago
- Business
- Hans India
IndiGo co-founder sells 5.8% stake worth `12k cr
New Delhi: Interglobe Aviation, the operator of IndiGo Airlines, saw its stock slipping nearly 3 per cent on Tuesday after its co-founder Rakesh Gangwal offloaded 2.26 crore shares worth nearly Rs11,928 crore in a block deal. The block sale constituted 5.8 per cent of Gangwal's stake in the leading budget airline, according to multiple reports. Gangwal had resigned from the board of InterGlobe Aviation in 2022 and remained one of IndiGo's largest shareholders. The floor price for the transaction has been pegged at Rs5,260 per share, representing a discount of around 3 per cent to the last closing price, according to reports. The stock, however, recovered from early losses and was trading at Rs5,318.00 apiece, down 1.88 per cent around 11 am. In the January–March quarter (Q4 FY25), IndiGo recorded a sharp 61.89 per cent year-on-year (YoY) jump in its consolidated net profit at Rs3,067.5 crore. This was up from Rs1,894.8 crore in Q4 FY24. Excluding foreign exchange impact, the profit rose 44.7 per cent to Rs2,981.1 crore in Q4, compared to Rs2,060 crore in the same quarter last fiscal. Revenue from operations in Q4 increased by 24.3 per cent to Rs22,151.9 crore, up from Rs17,825.3 crore in a year-ago period. The airline's EBITDAR (earnings before interest, taxes, depreciation, amortisation, and rent) also rose significantly by 57.5 per cent to Rs6,948.2 crore during the quarter.
Khaleej Times
26-03-2025
- Business
- Khaleej Times
UAE: Ras Al Khaimah real estate transactions surge 25,000% in 7 years
The real estate market in Ras Al Khaimah has grown significantly, with transaction volumes increasing by nearly 250 times or 25,000 per cent over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached Dh2,535,067,291, up from Dh10,113,300 in June 2017. Similarly, mortgage values rose to Dh3,475,928,534 in July 2024, compared to Dh15,836,398 in July 2017, an increase of approximately 21,849 per cent. This reflects growing investor confidence and the emirate's position as a real estate hub. The transaction increase comes as Ras Al Khaimah continues to attract investment through strategic initiatives, including the expansion of Ras Al Khaimah International Airport, significant hospitality and entertainment projects, and a growing focus on sustainable urban development. Christopher Cina, Director of Sales at Betterhomes, told Khaleej Times the surge in transactions is linked to increased development, improved connectivity, and growing demand for beachfront properties. 'The integrated gaming resort is expected to bring 4 million tourists a year to Ras Al Khaimah. Naturally, people prefer beachfront property as well,' he said. He also pointed to the rising number of completed projects and growing market confidence. 'Mortgage activity shows that lenders are taking the market seriously, and more importantly, it indicates that many developments are now complete. The numbers have gone up, and market sentiment has improved because, while there was limited development five years ago, today, there is a significant amount.' Andrei Charapenak, CEO of Major Developers, commented on the market growth: 'Ras Al Khaimah is no longer an emerging player it has established itself as an investment destination. The increase in real estate transactions and mortgage values reflects the emirate's economic development, driven by leadership, infrastructure projects, and demand for residential and commercial spaces.' He added: 'We are seeing a shift in investor sentiment, with luxury, sustainability, and lifestyle integration playing a major role in purchasing decisions. The real estate sector in Ras Al Khaimah is evolving to meet global standards, and new developments are catering to both local and international buyers.'
Arabian Business
26-03-2025
- Business
- Arabian Business
Ras Al Khaimah real estate ‘no longer an emerging player' as transactions up 25,000% since 2017
The real estate market in Ras Al Khaimah has witnessed unprecedented growth, with transaction volumes skyrocketing by nearly 25,000 per cent over the past seven years, according to the latest data from the Ras Al Khaimah Statistics Centre. The total value of real estate transactions in June 2024 reached AED2,535,067,291 ($2.535bn) an exponential leap from just AED10,113,300 ($2.8m) in June 2017. Similarly, mortgage values have soared, recording AED3,475,928,534 ($946.5m) in July 2024, compared to AED15,836,398 ($4.3m) in July 2017—an unprecedented increase of approximately 21,849 per cent. Ras Al Khaimah real estate This surge underscores the growing investor confidence and the emirate's rising prominence as a real estate powerhouse. Andrei Charapenak, CEO of Major Developers, said: 'Ras Al Khaimah is no longer an emerging player—it has cemented itself as a prime investment destination. 'The staggering increase in real estate transactions and mortgage values reflects the emirate's economic momentum, fuelled by visionary leadership, strategic infrastructure developments, and a strong appetite for premium residential and commercial spaces. 'We are seeing a paradigm shift in investor sentiment—luxury, sustainability, and lifestyle integration are driving purchasing decisions'. The surge in transactions comes at a time when Ras Al Khaimah is attracting heightened interest due to its strategic initiatives, including the expansion of Ras Al Khaimah International Airport, hospitality and entertainment investments, and a strong push toward sustainable urban development.
Roya News
28-02-2025
- Business
- Roya News
Cryptocurrencies continue decline, Bitcoin hits 3-month low
Cryptocurrencies continued their collective decline against the US dollar on Friday, with Bitcoin leading the way. The world's largest cryptocurrency dropped to its lowest level in over three and a half months, fueled by concerns over US economic policies and a decline in investor confidence. Bitcoin fell by 6.5 percent, reaching USD79,928, while its market value dropped to USD 1.59 trillion, according to CNN. The cryptocurrency has lost nearly 18.77 percent of its value over the past week. This downturn comes amid uncertainty surrounding US President Donald Trump's policies on tariffs and cryptocurrencies, as well as the aftermath of a hacking incident that targeted Ethereum. The escalating fears over the trade war have wiped out around USD 800 billion from the market value of cryptocurrencies, reinforcing expectations of sharp fluctuations in digital markets in the near future.
