Real Estate News Update for April 25
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Industry
NEW DELHI: Macrotech Developers has reported a dip of 10.61 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 667 crore in Q4 FY24 as against Rs 746.20 crore it registered in the corrresponding quarter of the previous fiscal, the company said in a BSE filing.
Commercial
BENGALURU: Embassy Group is looking to list coworking office platform WeWork India in the domestic bourses within 18 months after acquiring US-based WeWork's 27% stakeholding in the Indian entity for about ₹700 crore, said two people with direct knowledge of the matter.
Cement
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NEW DELHI: Dalmia Bharat, a cement manufacturing company, has reported a dip of 47.27 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 320 crore in Q4 FY24 as against Rs 608 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
Industry
NEW DELHI: Investment vehicles for realty and infrastructure sectors -- REITs and InvITs -- have garnered Rs 1.3 lakh crore in the past four years till March-end, and are expected to facilitate more pooled funds, Reserve Bank said in a report. Experts and stakeholders are of the view that with India growing at a fast pace, REITs and InvITs are emerging as alternative investment instruments, especially for high net-worth individuals.
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