11 July 2020

Table of Contents for Ticker Tape





Construction

HIRANANDANI COMMUNITIES’ AFFORDABLE HOUSING

 

Mumbai-based developer Hiranandani Communities will develop 500 affordable houses in the first quarter of 2018. It is also looking to develop Special Economic Zone in Chennai to house IT and ITeS companies, data centres, and allied companies in IT space. However SEZ project details are yet to be finalised. Its Oragadam township, Hiranandani Parks, will also be a part of affordable housing project. It is starting off with 500 apartments but the numbers are yet to be finalised. The cost per sq ft will be Rs.3,000 and will be within price range of Rs.20 lakh.

 

 

 

PERMANENT CAMPUSES FOR SIX NEW IITS

 

The Union Cabinet has approved over Rs.7,000 cr to construct permanent campuses of six new Indian Institute of Technology (IITs) across India. These include IITs at Tirupati (Andhra Pradesh), Palakkad (Kerala), Dharwad (Karnataka), Jammu (J&K), Bhilai (Chhattisgarh) and Goa will have a facility to accommodate 1,200 students from academic year 2020-2021. Currently, these institutions are functioning from temporary campuses with a total strength of 1,530 students. After these campuses are constructed, student strength will go up to 7,200. According to the Detailed Project Report (DPR), about Rs.20,304 cr were required for to build permanent campuses over a period of seven years. The latest amount approved by the Cabinet is for the first phase.

 

 

 

SUNTECK QIP RAISES OVER Rs.650 CR

 

Sunteck Realty has raised over Rs.650 cr from global financial institutions through Qualified Institutional Placement (QIP) and promoter’s capital infusion, the funds will be support business growth via new land and projects acquisitions. While Rs.500 cr was raised by placement of equity shares to institutional investors, the promoters are pumping in over Rs.150 cr capital through a preferential issue. Sunteck has issued equity shares to institutional investors under the said QIP at Rs.322 per share. In a separate development, FMRC Fidelity Emerging Markets Fund bought over 7 lakh shares of the company recently at Rs.321.45 per share through a bulk deal in the open market. The issue attracted overseas investors US, Hong Kong, and Singapore. The fresh equity will be utilised on ongoing and forthcoming projects on a fast track. According to the company, despite right location and product offering these projects were stuck due to liquidity issues.

 

 

 

OVER 2 CR AFFORDABLE HOUSES IN THREE YEARS

 

The government said recently that a universal affordable housing scheme will boost construction industry as 1.2 cr dwellings will be built in three years under PMAY's urban component, and another 1.02 cr units under its rural component by March 2019. The universal affordable housing for all will give a big boost to the construction industry, because 1.2 cr units will be built under the Pradhan Mantri Awas Yojana or PMAY (Urban) entailing an expenditure of Rs.1,85,069 cr in three years. Under the PMAY (Gramin) 1.02 cr units would be built at a cost of Rs.1,26,795 cr by the Centre and States by March 2019.

 

About 51 lakh units will be built this year. The government had launched "Housing for All" in rural areas in November 2016 under which the government proposes to provide an environment friendly and secure house to every rural household by 2022.

 

 

 

HIKARI HOTELS, LAUNCHES NIKO HOTELS

 

An Indo-Japan joint venture, Hikari Hotels, has launched Niko Hotels, its first property in Kochi, at an investment of Rs.10 cr, the hotel was inaugurated by K Mohammed Y Safirulla, Ernakulam District Collector. Niko Hotels is the first in a chain of hotels the company is planning to set up. The 17,000 sqft, 32-room project is a 50:50 joint venture between Kochi-based Indocosmo Group and Tokyo-based Chiyoda Building Management Company. Niko Hotels is modeled after Japanese business hotels, focusing on cleanliness, comfort and affordable prices. “The hotel is planning to provide ayurvedic treatment facilities as an additional offer, because traditional Indian healthcare system is popular among Japanese. A lot of business travellers are visiting Kerala from Japan and the hotelier wants to club their business stay with ayurvedic treatments.

 

 

 

ARIHANT TO DEVELOP 12.9 MILLION SQ FT

 

Arihant Superstructures will invest about Rs.4,000 cr over next six years on construction of its 15 ongoing projects in Navi Mumbai and Jodhpur. The Mumbai-based developer has completed around 2.5 million sq ft area across nine projects, and is currently developing 15 projects in Navi Mumbai and Jodhpur comprising 12.9 million sq ft area. It will focus on affordable housing, where 66 per cent of its total is low-cost homes in a price range of Rs.20-50 lakh. About Rs.4,000 cr will be required to complete construction of these 15 projects, which will be funded through internal accruals, bank loans, and customer advances. Arihant is expecting Rs.6,000 cr revenues from these 15 projects over the next six years, of which around 10 are in Navi Mumbai and rest in Jodhpur.

 

 

 

RMZ IN EXPANSION MODE

 

Currently in an expansion mode, RMZ Corp will develop commercial property across major cities to expand its developed footprint from 21 million sq ft to 60 million sq ft by 2020. It is also implementing a mega 3.7 million sq ft of SEZ and non-SEZ commercial space in IT hub of Hyderabad, in partnership with My Home Group. The Group is currently looking for properties in several major cities and is open to buying them out or partnering for development of commercial properties, its recent acquisitions are in Mumbai and Delhi NCR region.

 

Qatar Investment is a major investor having invested about Rs.1,200 cr in the company. RMZ owns, operates, and manages, about 21 million sq ft of assets estimated to be worth $5 billion. RNZ has nearly 20 million sq ft of properties under development, which include about 10 million sq ft with My Home in Hyderabad, 2 million sq ft in Chennai, and 4 million sq ft each in Bengaluru and Delhi NCR.

 




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