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Time of India
3 days ago
- Business
- Time of India
Why India's 1% are staking claims in the luxury concrete jungle; 10 biggest realty splurges
One of India's costliest residential transactions to date saw pharma billionaire Leena Gandhi Tewari, chairperson of USV Ltd, spend ₹635 crore on two sea-facing duplexes in Naman Xana, Worli. Spread over four floors with a combined carpet area of 22,572 sq ft, the deal works out to ₹2.83 lakh per sq ft, setting a new national benchmark , as per ET. Over the past few years, India's ultra-high-net-worth individuals (UHNWIs) have ramped up investments in residential real estate, reshaping the country's luxury housing landscape. The headline numbers say it all. Tewari's ₹639 crore twin duplex deal in Worli, the Kotak family's ₹628 crore consolidation of nearly an entire sea-facing building in Mumbai, and DMart founder Radhakishan Damani's ₹1,000 crore heritage bungalow acquisition in Malabar Hill. The message is clear. India's wealthy are not limiting their investments to equities or startups. Increasingly, they are putting money into bricks and mortar. And not just any bricks and mortar but the most coveted addresses in the country. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Also Read: Indian residential real estate hits new highs with record-breaking apartment deals in Mumbai What is driving the trend? Several factors are at play. First, there is growing conviction that luxury real estate in India is entering a golden phase. Demand for marquee properties is far outstripping supply, particularly in prime pockets such as Lutyens' Delhi, Malabar Hill, Worli, and Golf Course Road in Gurugram. That scarcity is pushing prices into uncharted territory. Tewari's purchase at ₹2.83 lakh per sq ft set a new national record. In Gurugram, DLF Camellias has seen rates reach as high as ₹1.17 lakh per sq ft according to Anarock and media reports. Furthermore, a recent Knight Frank report revealed that Mumbai, Bengaluru, and Delhi ranked among the top 15 global cities for prime residential price growth in Q1 2025, with Bengaluru placed fourth, Mumbai fifth, and Delhi fifteenth. The report tracked price movements across prime residential markets in 45 global cities, highlighting India's rising prominence in the luxury real estate segment. Live Events Also Read: This area in Delhi-NCR saw a 98% property price rise in the last 5 years, see how much property prices appreciated in your locality Many of these deals carry strategic value. Take the Kotak family's near-total ownership of a sea-facing building in Worli. It is widely seen as a redevelopment play. These are not just end-use homes but investment vehicles, with long-term potential for high-yield luxury apartments or mixed-use projects. India's top luxury residential deals Sl No. Buyer Location Deal Value (₹ cr) Highlights 1 Radhakishan Damani (reportedly) Malabar Hill, Mumbai 1,000 Heritage bungalow; 1.5-acre plot; redevelopment potential 2 Leena Gandhi Tewari Worli, Mumbai 639 Twin duplexes; ₹2.83 lakh/sq ft; 22,572 sq ft 3 Uday Kotak family Worli Sea Face, Mumbai 628 (426 + 202) 21 of 24 flats; potential redevelopment 4 Kumar Mangalam Birla Malabar Hill, Mumbai 425 Jatia House; 25,000 sq ft bungalow 5 J.P. Taparia family Three Sixty West, Worli, Mumbai 369 6 apartments; 5,000 sq ft each 6 Rishi Parti & others DLF Camellias, Gurugram 285 (190 + 95) Penthouse + apartment; ₹1.17 lakh/sq ft 7 Nadir Godrej Malabar Hill, Mumbai 180 3 apartments in Ruparel House 8 Vasudha Rohatgi Golf Links, Delhi 160 2,160 sq yd bungalow 9 Bhanu Chopra Golf Links, Delhi 127.5 11,000 sq ft bungalow 10 Gaurav Trehan Malabar Hill, Mumbai 88 5,381 sq ft flat with private deck (Sources: Industry data, media reports) What the numbers reveal According to the Knight Frank Wealth Report 2024, India's UHNWI population grew by six percent last year to reach 85,698. This number is expected to rise to 93,753 by 2028. Residential real estate now accounts for 32% of their investment portfolios, up from 25% in 2020. This is a notable shift towards tangible, high-value assets. India's real estate sector began 2025 on a strong note. CBRE's India Market Monitor Q1 report shows that equity investments surged to $3 billion in the January to March quarter, a 74% year-on-year jump driven by developer activity and increased interest in Real Estate Investment Trusts (REITs). The luxury housing segment stood out with sales up 28% year-on-year. Delhi-NCR led the surge, with a balance between new launches and demand. Bengaluru, Mumbai and Delhi-NCR together accounted for 67% of total equity inflows, showing their dominance as real estate hubs. Also Read: Looking to buy an apartment in Mumbai for Rs 1 crore? These areas in the suburbs look promising High-end deals continue to set records. Nadir Godrej spent ₹180 crore on three apartments in Malabar Hill. Rishi Parti paid ₹190 crore for a penthouse in DLF Camellias. Even relatively new entrants such as RateGain founder Bhanu Chopra are buying into this segment with his ₹127.5 crore Golf Links bungalow. Several other marquee transactions, including a reported ₹500 crore sea-facing bungalow in Mumbai's Cuffe Parade, remain confidential due to privacy clauses. This boom in ultra-luxury real estate is about more than just eye-popping prices. It reflects a structural shift in how India's wealthiest individuals are allocating capital. With global real estate markets stagnating and Indian equities prone to volatility, many billionaires are looking inward for stability and finding it in landmark properties with enduring value.
Mint
15-05-2025
- Business
- Mint
Best stock picks for today, 15 May, as recommended by Trade Brains Portal
The Indian stock markets ended positively today. The Nifty 50 closed at 24,666, up by 88.55 points, or 0.36%, while BSE Sensex rose 182.34 points, or 0.22%, to 81,330.56. Today, we recommend two blue-chip stocks, one from the IT sector and the other from the retail sector. Tata Consultancy Services Ltd Additionally, free cash flow of $1.48 billion and invested funds of $5.53 billion highlight TCS's strong liquidity position, enabling sustained shareholder returns. Furthermore, the order book TCV (total contract value) stood at $12.2 billion, with North America TCV reaching an all-time high of $6.8 billion, BFSI TCV at $4.0 billion, and Consumer Business TCV at $1.7 billion, which reflects TCS's ability to gain market share. TCS has a strong workforce of 6.07+ lakh employees. The company has 13.3% IT services attrition and 35.2 % women employees, highlighting its focus on talent retention, diversity, and development. A structured hiring strategy and diverse global presence (152 nationalities) ensure scalability and operational efficiency, strengthening its long-term growth prospects. The management also noted that TCS is gearing up to onboard an increased number of campus hires in FY 26. The management is confident that FY26 will be better than FY25 for its international business and also the domestic business, once the macroeconomic uncertainty softens. While TCS has completed a significant portion of the BSNL deal, which could dampen its revenue, the company is looking out for various opportunities to replace this revenue domestically and internationally and enhance margins, with a target of achieving 26% operating margins. Additionally, robust TCVs in Q3 and Q4 further boost confidence in the company's growth prospects for FY26. Also Read: TCS commentary offers some optimism, but the Street isn't buying it Avenue Supermarts Ltd (Dmart) Additionally, EPS growth of 6.7% YoY indicates consistent profitability. Earnings before interest, tax, depreciation, and amortization (Ebitda) in FY25 stood at ₹4,487 crore, as compared to ₹4,104 crore during FY24, and the Ebitda margin stood at 7.6%. Their days inventory and days payables were stable at 31.4 and 7.2, respectively, with a lower debt-to-equity ratio at 0.03 for FY25. Dmart's store count expanded by adding 50 stores this year to reach 415 stores in FY25, from 365 stores in FY24. Its e-commerce venture, Dmart Ready, is currently servicing 25 cities and is growing extremely well in key metro towns, as per the management. DMart's retail business area of 17.2 million sq. ft. spans across Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman. Business remains resilient in metro towns, but non-metro areas are seeing significantly stronger growth. Like-for-like growth is relatively better in metro areas with lower DMart store density. While gross margins in mature metro markets may stay soft for some time, the management remains confident that DMart's value proposition is well-established in the minds of consumers. D-Mart follows the Everyday Low Cost–Everyday Low Price strategy, which aims at procuring goods at competitive prices using operational and distribution efficiency. This strategy delivers value for moneyto customers by selling at competitive prices and will help in increasing store footfall, along with strengthening customer loyalty. Also Read | Shareholdings moves in Q4: Indian Inc's founders hike stakes in select small-cap firms Market Recap The Indian market ended positively on Tuesday. The Nifty 50 closed at 24,666, up by 88.55 points, or 0.36%, with an RSI of 61.49, below the overbought zone (RSI 70) and above all four 20/50/100/200 EMAs on the daily chart. The BSE Sensex was up 182.34 points, or 0.22%, to 81,330.56. The BSE Sensex is also trading above all four 20/50/100/200 EMAs with an RSI of 61.3 on the daily time frame. Among the sectoral gainers, Nifty Metal stood at the top, surging by 2.46% and peaking at 9,085, with top gainers like SAIL, Jindal Steel & Power, Tata Steel, and Nalco trading with gains of up to 5.1%. Nifty Realty followed the rally with a gain of 1.7%, reaching a day's high at 885.35. Stocks like Prestige Estates, Macrotech Developers, Oberoi Realty, and DLF gained up to 4% in Wednesday's trade. Additionally, the domestic retail inflation rate for April 2025 stood at 3.16%, easing due to softened prices of vegetables, fruits, pulses, meat, etc. The retail inflation dropped from 3.34% in March 2025 and 4.83% in April last year to 3.16% now. In the international markets, the Dow Jones futures ended flat on a positive note at 42,251 levels, gaining 20 points, or 0.04%, on Wednesday. In the US markets, tech companies like Nvidia gained 5.63% on 14 May on news that the company is sending more than 18,000 AI chips to Saudi Arabia. While the Asian markets ended on a mixed note. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Private Limited, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
07-05-2025
- Health
- Time of India
Panic buying starts, prices also start rising
JALANDHAR: Panic buying started on Wednesday after India launched Operation 'Sindoor'. People rushed to buy groceries in large quantities for storage, and there was also extra buying of onions, potatoes, and other vegetables. Tired of too many ads? go ad free now While there were queues at the petrol pumps, there was also a surge in bookings for LPG cylinders. A heavy rush of customers was witnessed at DMart stores near Pathankot Chowk and near Guru Nanak Mission Chowk. At the former store, the staff had to close the gate as people turned up in large numbers. Karyana merchants also reported a surge in customers. There was also a rush at the medicine stores from patients who are on long-term treatments. "There was a surge in those patients purchasing medicines who are on long-term medication or have chronic issues, buying medicines for at least a couple of months," said Tejinderpal Singh of Imperial Medical Hall in Jalandhar. Meanwhile, the prices of vegetables, especially onions and potatoes, also started increasing. "There was an increase of Rs four per kg in the prices of onions and potatoes in the wholesale market in the morning itself," said Jammu, a migrant vegetable vendor in Phagwara. Hoshiarpur Deputy Commissioner Ashika Jain urged people not to hoard essential items like oil, cooking gas, medicines, and ration in the district as there was no shortage of anything. Stating that hoarding could encourage black marketing, she warned that strict action would be taken against anyone found engaging in such activities. There was also a rush at the petrol pumps as people preferred completely filling the fuel tanks of their vehicles.
Economic Times
06-05-2025
- Business
- Economic Times
Jignanshu Gor believes DMart doesn't need to join Q-commerce rush. Here's why
Amid rising competitive intensity from quick commerce (Q-commerce) platforms, Avenue Supermarts, the parent company of DMart, is not likely to join the rapid delivery race but is instead expected to sharpen its focus on delivery timelines, assortment depth, and overall value proposition. ADVERTISEMENT In an interaction with ET Now, Jignanshu Gor of Bernstein India addressed the longstanding thesis around DMart's vulnerability to Q-commerce rivals and outlined how the retailer may respond. Gor, whose research house tracks both Avenue and Q-commerce trends, noted that while investor concerns about the overlap between DMart's customer base and quick commerce users have persisted for months, this overlap might be overstated. Addressing the possibility of DMart entering the Q-commerce space directly, Gor stated, 'Will they join them? I do not think so.' Instead, he pointed out that 'they have been working at it for the last nine months, but I do not think they should even plan to join it.' According to him, DMart is more likely to strengthen its delivery capabilities and expand its product assortment, supported by greater investment that one can see in DMart this year or DMart Ready. Gor stated that while Q-commerce will continue to evolve, 'I do not think the entire grocery retailing in India is going to shift online and if it does not shift online, then DMart is one of the two large big box retailers left and arguably given margin profile, etc., the better run retailer as well.' ADVERTISEMENT Also read: Who is Greg Abel and is he able enough to fill Warren Buffett's $1.2 trillion shoes? 'There is a reason why we think that when it comes to pure FMCG or grocery items, a big box retailer is able to provide value, which quick commerce will find it difficult to do on a sustainable basis,' he said. ADVERTISEMENT He acknowledged that the thesis around competition from Q-commerce has been oscillating in the last six months, particularly after DMart's Q2 numbers, which were interpreted by some as indicating pressure from rapid delivery Gor stressed that 'DMart can and will compete better on offering value to customers and offering choice to customers, so that overlap should get over and they will be able to survive or thrive in quick commerce.' (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
06-05-2025
- Business
- Time of India
Jignanshu Gor believes DMart doesn't need to join Q-commerce rush. Here's why
Amid rising competitive intensity from quick commerce ( Q-commerce ) platforms, Avenue Supermarts , the parent company of DMart , is not likely to join the rapid delivery race but is instead expected to sharpen its focus on delivery timelines , assortment depth, and overall value proposition. In an interaction with ET Now, Jignanshu Gor of Bernstein India addressed the longstanding thesis around DMart's vulnerability to Q-commerce rivals and outlined how the retailer may respond. Gor, whose research house tracks both Avenue and Q-commerce trends, noted that while investor concerns about the overlap between DMart's customer base and quick commerce users have persisted for months, this overlap might be overstated. Addressing the possibility of DMart entering the Q-commerce space directly, Gor stated, 'Will they join them? I do not think so.' Instead, he pointed out that 'they have been working at it for the last nine months, but I do not think they should even plan to join it.' According to him, DMart is more likely to strengthen its delivery capabilities and expand its product assortment, supported by greater investment that one can see in DMart this year or DMart Ready. Gor stated that while Q-commerce will continue to evolve, 'I do not think the entire grocery retailing in India is going to shift online and if it does not shift online, then DMart is one of the two large big box retailers left and arguably given margin profile, etc., the better run retailer as well.' Also read: Who is Greg Abel and is he able enough to fill Warren Buffett's $1.2 trillion shoes? 'There is a reason why we think that when it comes to pure FMCG or grocery items, a big box retailer is able to provide value, which quick commerce will find it difficult to do on a sustainable basis,' he said. He acknowledged that the thesis around competition from Q-commerce has been oscillating in the last six months, particularly after DMart's Q2 numbers, which were interpreted by some as indicating pressure from rapid delivery players. However, Gor stressed that 'DMart can and will compete better on offering value to customers and offering choice to customers, so that overlap should get over and they will be able to survive or thrive in quick commerce.' ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
