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Time of India
28-05-2025
- Business
- Time of India
Bengaluru sees uptick in Rs 50 cr+ home deals
Bengaluru's ultra-luxury housing market is scaling new highs—witnessing a raft of Rs50-crore deals—so far mostly limited to Mumbai and Delhi. Historically, high-end residential transactions in Bengaluru typically ranged around Rs 30-40 crore, but current activity reflects a shift toward significantly higher price points of Rs 40-60 crore—underscoring accelerated momentum in the city's top-end housing segment. India's technology capital saw several large residential deals above Rs 45 crore getting registered between last December and this month, according to Zapkey, a real estate data and analytics platform. Eight deals with a total value of Rs 415 crore have been recorded since January, compared to four worth Rs 175 crore in the same period in 2024. The data indicates a more than twofold surge in both deal count and investment value in the Rs 40-60 crore price range. Transactions include two apartments in a prestigious tower in Ashok Nagar, a private mansion in Sadashivanagar, and a high-end villa in Sampangiram Nagar. Each of these deals exceeded Rs 50 crore. 'The Bangalore clientele is discerning, global in outlook, and increasingly willing to invest in properties that reflect status, privacy, and exclusivity,' said Sandeep Reddy, cofounder Zapkey. One of the most high-profile deals was the Rs 50 crore purchase of a luxury apartment— kingfisher Towers by Infosys founder Narayana Murthy last December. A second apartment in the same project was bought shortly after by a real estate investment firm for Rs 45.35 crore. In January, Seema Ravanan, wife of Rostow Ravanan, chairman of AI firm Alfahive, bought an independent house in Sadashivanagar for Rs 57.6 crore from the Kalappa family. Around the same time, the Suvarna Family Trust picked up a property in Jayanagar for Rs 45.78 crore. Most recently, earlier this month, Paresh Shantilal Raja, CEO of Market Financials, bought a villa in the Sadashivanagar enclave for Rs 54.39 crore. 'The buyers are no longer just looking for large homes — they are looking for smart addresses,' said Vijay Chugani, founder, ZenXChugs, a Bengaluru-based luxury property broker. Several of these deals are happening off-market, brokers say, with limited public visibility. While developers are curating new luxury products, resale inventory — especially in heritage zones like Sadashivanagar, Indiranagar, and Koramangala — is commanding a significant premium. 'In some cases, they are ready to wait a year or two for the right product. In many ways, Bangalore is becoming what South Mumbai was two decades ago,' said Rajesh Sadhwani, joint MD, Sadhwani Real Estate Holdings, a real estate brokerage. Experts say that demand intensifies, industry insiders expect a continued rise in big-ticket residential sales in the Rs 40–Rs 75 crore band, driven by NRI investors, family offices, and promoter groups reshoring wealth back into Indian assets. India's ultra-rich population is expanding faster than ever. According to the latest Knight Frank Wealth Report 2025, the number of UHNIs (net worth above $30 million) in India grew by 12.4% in 2024, outpacing the global average. Bangalore alone is home to over 250 UHNIs, a number expected to cross 320 by 2027. The same report highlights that India added 1,200 new millionaires every week in 2024, many of whom are technology entrepreneurs, second-generation business families, and global professionals returning to India.
India Today
22-05-2025
- Business
- India Today
Foxconn building dorms at 300-acre iPhone campus in India: Report
Foxconn is building dormitories for its workers at its 300-acre iPhone manufacturing campus in Devanahalli, Karnataka, reported The Economic Times (ET). The dorms are part of the company's plan to support a large number of workers at its plant, which is expected to play a major role in Apple's growing operations in is one of Apple's main manufacturing partners and is investing heavily in its Indian plants. The Devanahalli site, spread across Doddagollahalli and Chapparadahalli villages, is about 34 km from Bengaluru's Kempegowda International company is investing about $2.56 billion in the Karnataka unit. In the first phase (2023–24), Foxconn invested around Rs 3,000 crore, and the second phase (2026–27) is expected to involve a similar goal is to manufacture about 100,000 iPhones at the Karnataka unit by December TO HOUSE 30,000 WORKERSThe new dormitories are expected to house around 30,000 workers, making it the biggest such facility in India. ET reported that construction of the dorms is in full swing and is likely to be completed by the end of the year. The dorms are meant only for workers, not senior executives.A key feature of the project is that women workers will be given preference for dormitory housing. According to ET, 50–80% of the workforce at the Devanahalli plant are women. One employee told the publication that women travel long distances to reach work, and the dorms will help reduce this daily struggle.A banner at the construction site referred to the 'Safety alert month for the new dormitory project in area C&D of the Elephant Project,' which is the internal name for the iPhone plant in already follows a similar worker housing model at its Sriperumbudur unit in Tamil Nadu, where it has dorms for around 18,000 PRODUCTION UNDERWAYFoxconn employees told ET that some iPhone models have already entered production as of May, with others expected to follow in August. The company is reportedly getting ready to start shipments from the Devanahalli unit by June. Wan Hai container trucks—used for transporting goods—were seen parked near the campus during ET's visit, possibly in preparation for these shipments. Wan Hai Lines is a Taiwanese shipping company known for its network in Devanahalli plant is expected to become one of its largest units in the world after China, under the company's 'China+1' strategy. This approach is meant to reduce reliance on manufacturing in China by increasing operations in other countries like is also a key supplier of components for iPhones, along with Tata Electronics in India. Tata has recently taken over the India units of Wistron and Pegatron, both Apple STAFF AND HOUSINGSome senior employees from Taiwan working at the Devanahalli plant are living in rented houses and hotels nearby, according to Indian employees at the unit. Sandeep Reddy, cofounder of property data firm Zapkey, told ET that expatriates working at Foxconn are renting homes at high-end real estate projects, with rents starting from Rs 2.5 November last year, ET reported that real estate company BCD Group leased 900 ready-to-move-in residential units to Foxconn in Hoskote, near homes, priced under Rs 45 lakh each, were built at a cost of Rs 500 crore and are expected to house between 6,000 and 8,000 women workers. The 75-acre township will also have commercial areas, schools, health centres and entertainment zones, according to BCD Group MD Angad Singh TO MAKE MILLIONS OF IPHONESIn March, ET reported that Foxconn plans to produce 25–30 million iPhones in India in 2025, which is more than double the number it made in the country last CEO Tim Cook said on May 1 that in the June quarter, the company expects most iPhones sold in the United States to be made in India instead of currently has operations in Tamil Nadu, Karnataka, and Telangana. Apart from the Bengaluru unit, it has also started a new facility in Hyderabad to manufacture AirPods, showing the expansion of Apple's product manufacturing in India. Its main iPhone assembly centre continues to be its Sriperumbudur campus near Watch advertisement
Hans India
13-05-2025
- General
- Hans India
Indiramma Housing Scheme Verification Progresses in Chinna Tandrapadu Village
Gadwal: A verification drive for the Indiramma Housing Scheme was conducted today in Chinna Tandrapadu village. The officials arrived to verify the eligibility of 150 sanctioned houses under the scheme. As part of the inspection process, MPDO and AEE of RWS Department, Mr. Sandeep Reddy, carried out house-to-house verification. Till today, nearly 120 houses have been thoroughly checked for eligibility and compliance with the scheme's norms. The verification aims to ensure transparency and proper allocation of houses to the deserving beneficiaries. The officials cross-checked documents and assessed the ground reality regarding the construction and occupancy status of the houses. The program saw active participation from the Panchayat Secretary, Indiramma Housing Committee Members, and the Field Assistant, who assisted in coordinating the verification smoothly. This initiative reflects the government's commitment to ensure that welfare schemes like Indiramma Housing reach the right beneficiaries without discrepancies. The verification process is expected to conclude shortly, with the remaining houses scheduled for review in the coming days.
Yahoo
13-05-2025
- Business
- Yahoo
DPZ Q1 Earnings Call: New Menu Launches and Aggregator Partnerships Shape Outlook
Fast-food pizza chain Domino's (NYSE:DPZ) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 2.5% year on year to $1.11 billion. Its non-GAAP profit of $4.33 per share was 6.3% above analysts' consensus estimates. Is now the time to buy DPZ? Find out in our full research report (it's free). Revenue: $1.11 billion vs analyst estimates of $1.13 billion (2.5% year-on-year growth, 1.2% miss) Adjusted EPS: $4.33 vs analyst estimates of $4.07 (6.3% beat) Adjusted EBITDA: $230.5 million vs analyst estimates of $235.8 million (20.7% margin, 2.3% miss) Operating Margin: 18.9%, in line with the same quarter last year Free Cash Flow Margin: 14.8%, up from 9.5% in the same quarter last year Locations: 21,358 at quarter end, up from 20,755 in the same quarter last year Same-Store Sales rose 1.6% year on year (3.2% in the same quarter last year) Market Capitalization: $16.4 billion Domino's Q1 results were shaped by the introduction of its Parmesan Stuffed Crust pizza, ongoing value-focused promotions, and a challenging macroeconomic environment that impacted both delivery and carryout traffic. Management discussed the initial performance of the new stuffed crust item, which launched late in the quarter, and highlighted strategic investments in digital platforms and franchisee support as key contributors to maintaining market share amid competitive pressures. CEO Russell Weiner emphasized, 'We're excited about the impact this product will have not only this year, but as a market share driver for years to come.' Looking ahead, Domino's leadership focused on the expected benefits from its DoorDash partnership, which is set for a national rollout in the coming months. The company reiterated its strategy of combining its own digital channels with third-party aggregator platforms to reach a broader customer base. CFO Sandeep Reddy noted, 'All of our key initiatives, including aggregator partnerships and new product launches, are incorporated into our full-year outlook,' while also cautioning that continued macroeconomic headwinds could affect same-store sales expectations. Domino's management attributed Q1 performance to a combination of new product initiatives, operational improvements, and expanding digital partnerships. They also commented on the external pressures facing the quick-service restaurant (QSR) industry, including consumer spending trends and heightened competition. • Stuffed Crust Pizza Launch: The Parmesan Stuffed Crust pizza was launched in early March, representing Domino's largest new menu item in years. While it had limited impact on Q1 results due to timing, management reported strong initial customer feedback and a high proportion of orders including the new crust. Russell Weiner stated that this launch filled a major gap in the menu and is expected to contribute meaningfully to future sales. • DoorDash Aggregator Rollout: Domino's initiated a pilot with DoorDash, the largest delivery aggregator in the US, and plans a national rollout by the end of Q2. Management expects approximately 50% of the orders through DoorDash to be incremental, citing the platform's scale compared to previous partnerships. The anticipated impact is weighted toward the second half of the year. • Organizational Restructuring: In Q1, Domino's elevated Joe Jordan to Chief Operating Officer and promoted Weiking Ng to Head of International. The company also streamlined its structure, resulting in some severance expenses but aiming for greater market agility and efficiency in pursuing its 'Hungry for MORE' strategy. • Value and Loyalty Initiatives: Promotions like the 'Best Deal Ever' and ongoing enhancements to the Domino's Rewards loyalty program supported customer retention and frequency, particularly among carryout customers. Management cited the multi-year impact of loyalty on driving repeat business. • International Store Dynamics: While the international unit count declined due to closures by the Australia-based master franchisee (mainly in Japan), core international markets such as India and Canada outperformed, driven by localized value campaigns and digital channel adoption. Management's outlook for the remainder of the year is shaped by the phased rollout of new menu items, expansion of third-party delivery partnerships, and ongoing investments in customer-facing technology, all set against a backdrop of macroeconomic uncertainty and shifting consumer preferences. • Aggregator Platform Expansion: The full nationwide launch of DoorDash is expected to significantly broaden Domino's delivery reach, with management estimating that about half of the orders from this channel will be incremental to existing sales. • Loyalty and Digital Initiatives: The enhanced Domino's Rewards program is designed to attract light and infrequent users by lowering the barrier to earning rewards, which management believes will support long-term frequency growth and customer retention across both carryout and delivery segments. • International Market Volatility: Management highlighted potential risks from geopolitical instability and macroeconomic pressures in international markets. These factors are reflected in the company's conservative outlook for international same-store sales and unit expansion for the rest of the year. • Danilo Gargiulo (Bernstein): Asked about geopolitical pressures and international boycotts, to which Sandeep Reddy responded that volatility is mostly incorporated into guidance and no elevated risk for Domino's has been observed so far. • Brian Bittner (Oppenheimer): Inquired about the expected sales lift from DoorDash versus Uber Eats. Russell Weiner explained that DoorDash's pizza sales are roughly double Uber's and that this will be a key contributor in the second half. • David Tarantino (Baird): Sought more detail on the stuffed crust pizza's impact. Weiner replied that it was too early for a major effect, but early adoption and feedback are promising, with further data to come as repeat purchases are tracked. • Peter Saleh (BTIG): Questioned potential headwinds from tariffs and supply chain constraints on US unit growth. Reddy affirmed the 175 net new store target, stating that franchisee economics remain compelling and tariffs are not a material concern. • Sara Senatore (Bank of America): Asked how persistent macroeconomic headwinds might impact the 3% same-store sales target. Both executives said their guidance assumes a tough environment and is back-half weighted due to the timing of initiatives, but further deterioration could present downside risk. In coming quarters, the StockStory team will be monitoring (1) the impact of the DoorDash rollout on delivery traffic and overall sales mix, (2) adoption rates and repeat purchase patterns for the Parmesan Stuffed Crust pizza, and (3) the pace of domestic and international store openings relative to management's goals. Additional attention will be paid to how Domino's navigates macroeconomic pressures and competitive value promotions as the year progresses. Domino's currently trades at a forward P/E ratio of 26.9×. At this valuation, is it a buy or sell post earnings? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. 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Yahoo
29-04-2025
- Business
- Yahoo
Domino's Pizza Inc (DPZ) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Income from Operations: Increased 1.4% in Q1, excluding foreign currency impact. Global Retail Sales Growth: 4.7% increase, excluding foreign currency impact. US Retail Sales Growth: 1.3% increase, driven by net store growth. Same-Store Sales: Declined 0.5% in the US. Carry-Out Business Comps: Up 1%. Delivery Business Comps: Down 1.5%. US Store Count: Added 17 net new stores, totaling 7,031. International Retail Sales Growth: 8.2% increase, excluding foreign currency impact. International Same-Store Sales: Increased 3.7%. Net Store Changes: Decrease of 25 stores internationally, primarily due to closures in Japan. Share Repurchase: Approximately 115,000 shares repurchased at an average price of $434, totaling $50 million. Share Repurchase Authorization Remaining: $764 million. Warning! GuruFocus has detected 4 Warning Signs with KRKNF. Release Date: April 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Domino's Pizza Inc (NASDAQ:DPZ) achieved market share gains in both US and international markets despite consumer and industry headwinds. The launch of the Parmesan Stuffed Crust Pizza has been well-received, with high customer satisfaction scores and a strong mix of orders. The partnership with DoorDash is expected to significantly enhance delivery capabilities and is anticipated to be approximately 50% incremental. Domino's Pizza Inc (NASDAQ:DPZ) continues to drive renowned value through national promotions and rewards programs, which have been effective in a challenging economic environment. The company has made strategic organizational changes to improve efficiency and align with its Hungry for MORE strategy, which is expected to drive long-term growth. Same-store sales in the US declined by 0.5%, slightly below expectations, due to negative traffic and a decline in delivery business. The delivery business continues to be impacted by macroeconomic pressures affecting low-income consumers. Net store growth in the US was modest, with only 17 net new stores added in the first quarter. International net store count decreased by 25 due to closures by Domino's Pizza Enterprises, primarily in Japan. The company faces potential geopolitical pressures that could impact international sales and growth. Q: Can you comment on the potential international geopolitical pressure impacting Domino's? Are there any signs of consumer weakness or boycotts against US brands? A: Sandeep Reddy, CFO, explained that the geopolitical pressure is more about the volatility in recent months. This could potentially impact demand, which is factored into their guidance of 1% to 2% international sales growth for the year. Q: What is the expected impact of the DoorDash partnership on sales, and how does it compare to Uber Eats? A: Russell Weiner, CEO, stated that DoorDash's pizza sales are about twice that of Uber Eats. They expect DoorDash to contribute significantly in the second half of the year, with an anticipated 50% incrementality from third-party platforms. Q: How is the stuffed crust pizza platform performing, and what impact is it having on sales? A: Russell Weiner, CEO, noted that the stuffed crust pizza was launched late in Q1, so it didn't significantly impact that quarter. However, customer feedback has been positive, and the product is meeting expectations. It represents a significant opportunity as it fills a gap in their pizza portfolio. Q: Can you elaborate on the initiatives to achieve the 3% US comp guidance, including the role of loyalty programs and new products? A: Russell Weiner, CEO, emphasized their strategy of launching two new products annually and maintaining value through promotions. The loyalty program is a multi-year driver, focusing on carry-out customers and increasing frequency among light users. Q: What is the outlook for domestic unit growth, and are there any concerns about tariffs affecting construction costs? A: Sandeep Reddy, CFO, confirmed the guidance of 175 net new stores in 2025, stating that franchisee economics are strong, and the pipeline is robust. Tariffs are not expected to materially impact demand or growth. Q: How are customers on aggregator platforms like Uber Eats and DoorDash behaving compared to other channels? A: Russell Weiner, CEO, observed that customers on aggregator platforms tend to order for smaller groups and are promotionally sensitive. The best deals remain on Domino's own platform. Q: How did the "Best Deal Ever" promotion impact sales trends, and what was the strategy behind it? A: Russell Weiner, CEO, explained that the promotion was designed to offer value without limitations on crust or toppings, addressing customer desires for fair pricing. The promotion was well-received, and franchisees supported it, demonstrating confidence in Domino's analytics and profitability. Q: What are the expectations for international unit growth, especially after the DPE closures? A: Sandeep Reddy, CFO, stated that the DPE closures in Japan were expected and are mostly behind them. Strong trends continue in India and China, and they expect international unit growth to align with previous expectations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
