Latest news with #KRahejaCorp
Economic Times
05-08-2025
- Business
- Economic Times
K Raheja Corp buys 7.4-acre land parcel in Pune's Mahalunge for Rs 200 cr
Synopsis K Raheja Corp's subsidiary, KRC Queens, has acquired a 7.43-acre land parcel in Pune's Mahalunge for nearly Rs 200 crore. The deal, with a development potential of 1.7 million sq ft, highlights developers' confidence in Pune's real estate market, particularly in emerging corridors with strong residential and commercial demand. Agencies Realty developer K Raheja Corp's subsidiary KRC Queens has acquired a prime land parcel measuring 7.43 acres in Pune's Mahalunge locality from Mahalunge Real Estate Developers for nearly Rs 200 land parcel holds a development potential of 1.7 million sq ft built-up area, making it one of the larger land acquisitions in Pune's western corridor in recent Mumbai-based company has paid stamp duty worth Rs 13.67 crore for the registration of the transaction that took place on July 21, showed documents accessed through CRE Matrix, a realty data analytics location of this plot in Mahalunge, which is part of the Maan-Mahalunge micro-market along the Hinjewadi-Balewadi growth corridor, has seen increasing interest from large developers, given its proximity to the information technology hub of Hinjewadi, upcoming metro connectivity and civic infrastructure expansion. The deal indicates realty developers' continued confidence in Pune's residential and commercial real estate market, especially in emerging corridors that are witnessing robust demand from homebuyers and businesses. KRC Queens, the acquiring entity, is part of K Raheja Corp group that has developed and operates a portfolio spanning commercial offices, retail, hospitality and residential projects across key Indian this acquisition, the company is expected to further strengthen its presence in the Pune market, which has emerged as one of the most active real estate destinations in the country in recent experts believe that the development potential of 1.7 million sq ft gives the buyer flexibility to pursue a mix of asset classes based on market email query to K Raheja Corp remained unanswered until the time of going to housing market is witnessing strong momentum, underpinned by solid economic activity, expanding infrastructure and shifting homebuyer expectations. Property prices in the city have climbed approximately 15% over the past year, putting it ahead of the national infrastructure projects like Pune Metro and Ring Road have played a critical role in boosting real estate demand, especially in areas such as Hinjewadi, Wakad, Baner and Balewadi, as well as emerging suburban pockets like Punawale, Ravet and Wagholi.
Time of India
05-08-2025
- Business
- Time of India
K Raheja Corp buys 7.4-acre land parcel in Pune's Mahalunge for Rs 200 cr
Realty developer K Raheja Corp 's subsidiary KRC Queens has acquired a prime land parcel measuring 7.43 acres in Pune's Mahalunge locality from Mahalunge Real Estate Developers for nearly Rs 200 crore. The land parcel holds a development potential of 1.7 million sq ft built-up area, making it one of the larger land acquisitions in Pune's western corridor in recent months. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The Mumbai-based company has paid stamp duty worth Rs 13.67 crore for the registration of the transaction that took place on July 21, showed documents accessed through CRE Matrix, a realty data analytics platform. The location of this plot in Mahalunge, which is part of the Maan-Mahalunge micro-market along the Hinjewadi-Balewadi growth corridor, has seen increasing interest from large developers, given its proximity to the information technology hub of Hinjewadi, upcoming metro connectivity and civic infrastructure expansion. The deal indicates realty developers ' continued confidence in Pune's residential and commercial real estate market, especially in emerging corridors that are witnessing robust demand from homebuyers and businesses. Live Events KRC Queens, the acquiring entity, is part of K Raheja Corp group that has developed and operates a portfolio spanning commercial offices, retail, hospitality and residential projects across key Indian cities. With this acquisition, the company is expected to further strengthen its presence in the Pune market, which has emerged as one of the most active real estate destinations in the country in recent quarters. Industry experts believe that the development potential of 1.7 million sq ft gives the buyer flexibility to pursue a mix of asset classes based on market demand. ET's email query to K Raheja Corp remained unanswered until the time of going to press. Pune's housing market is witnessing strong momentum, underpinned by solid economic activity, expanding infrastructure and shifting homebuyer expectations. Property prices in the city have climbed approximately 15% over the past year, putting it ahead of the national trend. Key infrastructure projects like Pune Metro and Ring Road have played a critical role in boosting real estate demand, especially in areas such as Hinjewadi, Wakad, Baner and Balewadi, as well as emerging suburban pockets like Punawale, Ravet and Wagholi.
Time of India
04-08-2025
- Business
- Time of India
Mindspace REIT Q1 net operating income rises 24% to 616 crore
Mindspace Business Parks REIT on Monday reported a 24 per cent increase in its net operating income to Rs 616.4 crore in the first quarter of this fiscal year. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mindspace Business Parks REIT on Monday reported a 24 per cent increase in its net operating income to Rs 616.4 crore in the first quarter of this fiscal year The company announced an 18 per cent increase in its distribution to shareholders to Rs 352.7 crore for the April-June period of the current 2025-26 fiscal year, according to a regulatory Business Parks REIT, sponsored by K Raheja Corp group, owns office portfolio s in Mumbai Region, Pune, Hyderabad, and Chennai. The portfolio has a total leasable area of 38.1 million sq ft, comprising 31 million sq ft of completed area, 3.7 million sq ft under construction and 3.4 million sq ft for future development. Mindspace REIT CEO and MD Ramesh Nair said, "We have had yet another great quarter, renting out 1.7 million square feet and achieving a remarkable committed occupancy of 93.7 per cent".The company's net operating income (NOI) grew by a robust 24 per cent, driven by acquisitions, rising rents and growing occupancy, he added."We delivered a strong quarterly DPU (distribution per unit) of Rs 5.79 per unit, up 14.9 per cent YoY (year-on-year). We remain confident in the long-term prospects of our portfolio, supported by the strength of our high-quality assets, enduring tenant relationships, and proactive leasing strategy," Nair REIT said it has roped in Sandeep Mathrani to the Board of the has served as CEO of General Growth Properties Inc., WeWork Inc. and Brookfield Properties Vice Chairman.
Entrepreneur
18-07-2025
- Business
- Entrepreneur
B.S. Nagesh Steps Down as Chairman of Shoppers Stop After Over 30 Years
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. B.S. Nagesh has retired as chairman of Shoppers Stop Ltd, bringing to a close a journey of more than three decades with the company. The announcement was made during the company's annual general meeting on Thursday. Nagesh's exit marks a significant leadership transition at a time when the retailer is dealing with increased competition and several top-level departures. Nagesh was among the founding members who launched Shoppers Stop in 1991. Under his leadership, the company grew from a single store in Mumbai to a presence across 70 cities with 299 outlets, including department stores, value-fashion stores under the Intune brand, and beauty retail spaces. He played a pivotal role in introducing international brands to the Indian market, building a successful loyalty programme, and navigating economic shifts in consumer spending. Shoppers Stop, part of the K Raheja Corp group, went public in 2003. From FY04 to FY25, revenue rose from INR 401 crore to INR 5,427 crore. Following his retirement, Nirvik Singh has been appointed as the new chairman. Singh, who is international president at Grey Group, has served as a director at Shoppers Stop since 2008. His appointment took effect on 18 July. The company's recent quarterly performance showed improvement, with revenue rising 6 percent to INR 1,094 crore. Net loss narrowed to INR 18 crore, supported by strong demand for luxury and fashion products. CEO Kavindra Mishra highlighted that premium brands now contribute 67 percent of department store sales, indicating a shift in consumer preferences. Despite these gains, the company has faced internal challenges. The last fiscal year saw six senior-level resignations, including top roles in marketing, e-commerce, and human resources. The company responded with new appointments, such as Jiten Mahendra and Mohit Seth, in July 2024. Mishra, initially hired as chief operating officer, was elevated to CEO after Venu Nair's exit, becoming the third person to hold the position in five years. The First Citizen loyalty programme continues to anchor customer retention, contributing 85 percent of overall sales. Among these, 70 percent came from repeat buyers. Shoppers Stop is focusing on its Intune and beauty verticals to expand its revenue base. Intune posted INR 68 crore in sales during the April to June quarter, doubling from last year. Its beauty business reported INR 219 crore in sales. Meanwhile, private brands contributed INR 156 crore, with growth driven by kidswear and women's western apparel. While facing stiff competition from Trent's Zudio, Shoppers Stop's newer verticals continue to build momentum.
Mint
10-07-2025
- Business
- Mint
Pickleball and sea-facing views: Inside South Mumbai's renewed luxury housing boom
Bengaluru: South Mumbai, the crown jewel of luxury housing that's home to some of the world's most expensive pincodes, is witnessing a record amount of real estate activity as developers race to acquire properties. All-time high sales of luxury homes, consistent demand from wealthy individuals including industrialists, C-suite executives, and diamond merchants, and recent record-breaking sale transactions have prompted realty firms to look at South Mumbai again. The acquisition spree, which began about two years ago, has gathered pace recently as India's luxury housing market has stayed strong, property analysts said. Not only marquee South Mumbai neighbourhoods such as Altamount Road, Carmichael Road, Nepeansea Road, and Malabar Hill, but also areas such as Gamdevi and Hughes Road that were overlooked in the past are being eyed for projects. 'South Mumbai has seen a big surge in acquisition of properties by developers at high costs," said Ritesh Mehta, senior director, and head (north and west), residential services and developer initiative, India, at JLL, a property advisory. 'City developers as well as developers from other cities are in the fray to acquire and redevelop projects in various locations in South Mumbai. Due to the demand-supply mismatch, there is huge demand for redevelopment opportunities and developers are racing to acquire new properties," he added. K Raheja Corp., which has developed several luxury residential projects, has acquired four properties across South Mumbai in recent months to be launched as high-end projects. Among these, the redevelopment of the Pleasant Palace housing society in Malabar Hill will be an ultra-luxury project. Vinod Rohira, managing director and chief executive of K Raheja Corp. said the company will be rolling out a series of luxury developments in South Mumbai. 'The transformation of Mumbai into a global city in the next decade is attracting wealth from across the world—NRIs (non-resident Indians), institutional capital, tech-led wealth, and even domestic wealth from other parts of India—who now aspire to own homes in South Mumbai's ultra-luxury zones, particularly within a 1-2 mile radius," Rohira said. Not surprisingly, from Adani Group to Godrej Properties, all the top developers want a slice of this lucrative real estate. In the last three years, 49 ultra luxury homes, each with a price tag of ₹100 crore or more, were sold in Mumbai and Delhi-National Capital Region, JLL said in March. Mumbai accounted for 69% of these homes, with Malabar Hill and Worli dominating the bulk of these transactions. Bigger homes, higher prices, and pickleball South Mumbai has always been a niche residential market with limited supply, with projects launched via redevelopment of old bungalows, buildings and housing societies. As a result, new, younger homebuyers looked at upcoming locations in central and suburban Mumbai. However, the turnaround in India's luxury housing market has seen South Mumbai gaining favour again. Prices for sea-facing residential projects in South Mumbai range from ₹1.25 to ₹2 lakh per 'Developers who will launch projects in South Mumbai are going all out to benchmark their sales prices. As a result, projects in front-row, sea-facing locations are charging significant pricing premium," said JLL's Mehta. 'However, the sales and success of the projects will boil down to the brand name and quality." The demand-supply mismatch in this niche market is likely to further push up property prices, which have already risen by 15-18% in the previous two years. Mumbai developer Sunteck Realty is gearing up to launch a project in Nepeansea Road that will have 10,000 homes. 'There is big demand from high-profile buyers. We plan to launch the project in the current financial year," said chairman and managing director Kamal Khetan. Bengaluru developer Prestige Group, which has launched luxury projects at Marine Lines and Worli in Mumbai in recent years, is exploring more South Mumbai projects. 'We are getting many society redevelopment offers but we are being cautious about what we pick. Increase in consumer demand has driven up acquisition costs, so we must ensure that the project is viable and the margins are protected," said Anand Ramachandran, senior executive vice president, business expansion, Prestige Group. 'There is clear demand for large residences (with) premium amenities, including pickleball in the project."
