Corporate Valuations’ Post

*Economic Times* 📝 Mistry family in talks to refinance ₹18,000 cr of debt 📝 CCI imposes penalty of Rs 1 crore on Bharti Airtel 📝 Quinag exits Manappuram Finance; sells entire stake for Rs 1,177 crore 📝 EMS plans to float IPO in Sep to raise up to Rs 320 crore 📝 Rice output may fall by 5% due to uneven rains 📝 PM GatiShakti: Network Planning Group endorses infra projects worth Rs 7,693 cr 📝 NCLT okays Ramkrishna Forgings' bid to acquire Amtek Group arm 📝 Reliance Commercial to infuse Rs 1,043 cr in Reliance Infra, Reliance Power 📝 NHPC, APGENCO to set up 2 hydel, renewable energy projects in Andhra Pradesh 📝 Language model ops startup Portkey.ai raises $3 million in funding led by Lightspeed Venture Partners *Business Standard* 📝 Brics to have 6 new members with 'deep ties' to India, says PM Modi 📝 Rel Retail aims to raise Rs 3K cr via InvIt for warehouse, logistics biz 📝 USA's Merative opens global capability centres in three Indian cities 📝 Tata group gets ready to launch Tata Tech IPO, plans to raise Rs 5,000 cr 📝 Infosys signs up global tennis legend Rafael Nadal as brand ambassador 📝 India, US likely to discuss import curbs on laptops, PCs, and tablets 📝 Irdai lowers minimum capital need for foreign reinsurers to Rs 50 crore 📝 Stricter disclosure norms for FPIs will come into effect from Nov 1: Sebi 📝 India's fuel subsidies fourth largest in the world, shows IMF data 📝 Tax tribunal allows capital gain exemption in case of house purchase 📝 Union Bank prices equity share at Rs 86.55 for QIP; raises Rs 5,000 crore *Financial Express* 📝 Banking sector posts 16.2% growth in credit offtake in Q1, FY24 outlook remains positive, says CareEdge 📝 Varde Partners lends Rs 750 crore to Phoenix group 📝 Supply side measures must continue to prevent frequent food supply shocks: Das 📝 Vishnu Prakash R Punglia IPO subscribed 3.77 times on first day of offer 📝 Rupee rises 14 paise to settle at 82.58 against US dollar 📝 Modern services sectors can create 3 million jobs: Axis Bank chief economist 📝 Despite record hiring by GCCs, FY24 will see a 50% drop in overall IT intake *Mint* 📝 BPEA sells Coforge stake for ₹7,684 cr 📝 Reliance Industries and Oberoi to jointly manage luxury hotels in India and UK 📝 Commercial production of ACC batteries under PLI scheme to start from FY24-end 📝 Jio adds 22 lakh mobile users in June, Voda Idea loses 12.9 lakh customers: TRAI 📝 India’s mineral production up 7.6% in June 📝 Sachin Bansal’s Navi Finserv raises ₹163 crore from Citi, Northern Arc 📝 Sandwich chain Subway sold to Roark Capital for $9.55 billion 📝 Suzlon bags 31.5MW wind energy project from Integrum Energy Infrastructure.

Economy and Market updates ::: • In major rejig, HDFC Bank splits retail loans division • Gaming executives fear tax rising 1,400% on DGGI calculation • BGMI maker Krafton debuts India-specific incubator to boost local game development • Domino’s, Pizza Hut cut rates as La Pino’z, Ovenstory and other small rivals slice up mkt • Oil PSUs buy more Russian crude despite G7 price cap • Leisure travel may pave the road for realtors to open malls on highways • Vedanta raises Rs 2,500 cr from Oaktree for refinancing • Abu Dhabi-based IHC raises stake in Adani Enterprises • IL&FS Group clears over fourth of its Rs 1 lakh-cr debt • Share transfer on demise of investor to get easier now • Lemon Tree Hotels stock gains on signing deal for a new franchisee in Gujarat’s Somnath • Man Industries hits 52-week high on Rs 400 crore order win • Saakshi Medtech and Panels makes a stellar debut, lists at 50% premium • NCC jumps 4% as firm bags Rs 4,200 crore water, infra orders • Valiant Laboratories IPO subscribed 29.76 times on final day • Vaibhav Jewellers makes a muted debut • Vedanta has finance lined up for repaying debts due in CY24, says Anil Agarwal; sale of steel, iron businesses eyed • Rekha Jhunjhunwala-backed Metro Brands zooms 12%; hits fresh 52-week high • Plaza Wires IPO Day 2: Offer subscribed 27.78 times, retail portion booked 118.24 times • JSW Infrastructure sees strong demand on debut, closes with 32% gains • Ashok Leyland September sales up 9% at 19,202 units • Rating upgrades for Indian companies at decadal high • NTPC logs 83% growth in coal output in first half of this fiscal • Vedanta split unlikely to help parent's near-term debt crisis: Analysts • NMDC's iron ore production rises 10% in September • JSW Infrastructure has huge potential to grow its business: Sajjan Jindal •Kalpataru Projects International raises Rs 150 crore via NCDs • 'Maran Vs SpiceJet: Delhi HC defers hearing of the case to October 9 • Waaree Group aims to raise Rs 2,000 crore through IPO: CMD Hitesh Doshi • Abu Dhabi-based IHC raises stake in Adani Enterprises to over 5% • VST Tillers, HTC Investments join hands to launch ‘best-in-class’ tractors • Vivek Wadhwa’s new venture aims to use breath to detect cancer • Airtel, Reliance Jio continue to add users at Vodafone Idea’s expense • Mahindra readies its vehicles to go deeper into world markets • Daimler aims to have a presence in 350 network locations by the end of 2023

🚀 Exciting news from Certus Capital! 💼✨ Certus Capital announces its ambitious plan to invest Rs 1,000 crore in India's real estate sector through secured credit via its Earnnest.me platform. 🏙️💰 ➡ Key highlights include: - Certus Capital has already injected Rs 400 crore through Earnnest.me and anticipates exceeding Rs 500 crore by year-end. - A recent investment of Rs 130 crore in Pune projects underscores Certus Capital's commitment to its own investment platform. - Earnnest.me is dedicated to democratizing access to institutional-quality real estate investments, providing individuals with opportunities for risk-mitigated returns. 📈💼 - The strong performance of the Indian real estate market is bolstering investor confidence and reaffirming Certus Capital's dedication to the sector. 💪🇮🇳 Read more: https://lnkd.in/d76erxVw #CertusCapital #RealEstate #Investment #EarnnestMe #India #PropTech #IndianRealEstate #Investor #FinancialGrowth Ashish Khandelia ___ Want to promote your products for free? Visit proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

𝗧𝗵𝗲𝗺𝗲 𝗥𝗲𝗮𝗹𝘁𝘆 𝗦𝗲𝗰𝘁𝗼𝗿 The top 10 listed developers in India managed to pull off a remarkable feat in past 5 years. They collectively reduced their consolidated net debt levels by a whopping 37%, bringing it down to ₹27,400 crore only. Now, that's no small feat. Realty Sector is a theme to be taken notice of. See how their share price got rewarded in 𝙥𝙖𝙨𝙩 5 𝙮𝙚𝙖𝙧𝙨? 🔵 DLF Limited (+125% Rally) past 5 years 🔵 Sobha Limited (+57% Rally) past 5 years 🔵 Godrej Properties Limited (+159% Rally) 🔵 Oberoi Realty Limited (+152% Rally) 🔵 Prestige Estates Projects Limited (+176% Rally) 🔵 Brigade Enterprises Limited (+366% Rally) 🔵 Mahindra Lifespace Developers Limited (+277% UP ) 🔴 Sunteck Realty Limited (-16% Down) 🔵 Indiabulls Real Estate Limited (-85% Rally) 🔵 Phoenix Mills Limited (+204% Rally) past 5 years 𝗦𝗼, 𝗵𝗼𝘄 𝗱𝗶𝗱 𝘁𝗵𝗲𝘆 𝗱𝗼 𝗶𝘁? It's a combination of factors working in their favor. - They managed to trim the cost of their debt by 80-160 basis points (bps). From high Cost NBFC, they approached banks for lower interest Rates. - Generated healthy operating cash surpluses. - Sold off some assets and bought small struggling private developers at distress rates. - Raised equity capital through various means like Qualified Institutional Placements (QIP) or dilution at the special purpose vehicle (SPV) level. That's a smart strategy right there. They used out of box thinking to kill competition plus expand when RERA killed alot of private construction projects. 𝗛𝗲𝗿𝗲'𝘀 𝘁𝗵𝗲 𝘀𝗰𝗼𝗼𝗽: with strong balance sheets, access to capital, and weaker unlisted players failing due to competition.... the big organized developers are set to expand their market share further in the next few years. That's a big win for the big guns. S&P BSE Realty Index is at 4,732 as on september 2023. It has come up by +2,665 points, (+ 128 %) in past 5 years. 𝗜𝗻 𝗮 𝗻𝘂𝘁𝘀𝗵𝗲𝗹𝗹: The Big Listed players have used the pandemic period wisely. They went on to consolidating their positions, Achieved the challenge of reducing their debt, and Now they are gearing up for growth. Meanwhile, smaller players are still grappling with liquidity issues, project delays, and sluggish sales. RERA regulations made their life a hell too. (All developers must follow their rules now) NBFCs( Non banking finance companies) are not lending money to these projects like they used to. Real Estate is back into the hands of Cash-Rich Big players. And they are available for common man like us to invest money and become a share holder. They are listed in sock exchange. #moneydhan #SEBi #investmentadvisor #financeexpert

What is Real Estate Investment Trusts (REITs)? Real Estate Investment Trusts (REITs) in India provide a novel way to invest in real estate through the stock market. Modeled after mutual funds, REITs pool capital from various investors to own, operate, or finance income-generating properties, offering dividends without direct property management. Introduced by SEBI in 2007, REITs ensure transparency and regulatory oversight. Types include mortgage, equity, retail, healthcare, residential, and office REITs. They offer affordable investment, reliable income, and transparency but come with higher tax burdens, fees, and market risks. Investing in REITs can be done via mutual funds, IPOs, or stock exchanges, requiring thorough research on yields, diversification, and management. REITs bridge real estate and stock markets, providing income and growth opportunities. #RealEstateInvestment #REITsIndia #InvestmentStrategy #PropertyInvesting #FinancialPlanning

Real Estate Investment Trusts (REITs) products in India have distributed Rs 12,800 crore in the last 4 years, which is more than the Nifty Realty Index combined. #REITs comprise Rs 74,000 crore of equity market cap spanning 105 million sq ft of commercial space in India. #realestate #equity #realty #economy #virendrasinghrawat #economypost #investment #bonds #retailinvestors

Napolean definition of military genius was “𝒕𝒉𝒆 𝒎𝒂𝒏 𝒘𝒉𝒐 𝒄𝒂𝒏 𝒅𝒐 𝒕𝒉𝒆 𝒂𝒗𝒆𝒓𝒂𝒈𝒆 𝒕𝒉𝒊𝒏𝒈 𝒘𝒉𝒆𝒏 𝒂𝒍𝒍 𝒕𝒉𝒐𝒔𝒆 𝒂𝒓𝒐𝒖𝒏𝒅 𝒉𝒊𝒎 𝒂𝒓𝒆 𝒈𝒐𝒊𝒏𝒈 𝒄𝒓𝒂𝒛𝒚" This feeling of craziness is palpable in the real estate market with daily news replete with luxury projects being sold in 2-3 days, regular annoucements of land purchases by developers & news of players making entry into new cities or new categories to take advantage of the positive sentiment. Amidst this craziness, it is also heartening to see developers strengthening their balance sheets by reducing debts. The bull cycle will not last forever, but the strength of the balance sheets would help players to tide over the next slowdown. With quarterly results announcements on the horizon, it will be very intriguing to see as to what path is being adopted by every Developer. While there are news aplenty on successful IPOs and ovesold projects, it is also heartening to see debts being reduced through [A] 𝐒𝐚𝐥𝐞 𝐜𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧𝐬 like Macrotech reduced debt by ₹540 crs in the quarter and aims to be have a net debt below 1 X Operating Cash flows by year end [B] 𝐈𝐏𝐎 𝐩𝐫𝐨𝐜𝐞𝐞𝐝𝐬 like Signature Global using ₹432 crores from its IPO for reducing debt. Watch out how each player is strategizing on this front in our upcoming Weekly newsletter. Meanwhile, here are some news that piqued my interest from the week that went by.. ➡️ 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐨𝐯𝐞𝐫𝐭𝐚𝐤𝐞𝐬 𝐇𝐨𝐧𝐠 𝐊𝐨𝐧𝐠 𝐚𝐬 𝐦𝐨𝐬𝐭 𝐞𝐱𝐩𝐞𝐧𝐬𝐢𝐯𝐞 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐜𝐢𝐭𝐲 𝐭𝐨 𝐛𝐮𝐲 𝐨𝐫 𝐫𝐞𝐧𝐭 𝐡𝐨𝐦𝐞𝐬. Median price in Singapore for private homes touched US$1.2 mn which translates to ₹10 crs!! Among the 8 cities studied in India, Mumbai topped the list. ➡️ 𝐉𝐚𝐩𝐚𝐧’𝐬 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐬𝐞𝐜𝐭𝐨𝐫 𝐬𝐞𝐞𝐬 ‘𝐠𝐨𝐥𝐝𝐞𝐧 𝐩𝐞𝐫𝐢𝐨𝐝’ 𝐚𝐬 𝐟𝐨𝐫𝐞𝐢𝐠𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐬𝐮𝐫𝐠𝐞 45%. This renewed interest is result of a weak Japanese yen and the country’s ultra-loose monetary policy. With interest rates at ~1.4%, foreign investor volume saw 100% increase in Q1 2023 ➡️ 𝐎𝐟𝐟𝐢𝐜𝐞 𝐬𝐞𝐜𝐭𝐨𝐫 𝐥𝐞𝐚𝐬𝐢𝐧𝐠 𝐚𝐜𝐫𝐨𝐬𝐬 𝐧𝐢𝐧𝐞 𝐜𝐢𝐭𝐢𝐞𝐬 𝐬𝐮𝐫𝐠𝐞𝐝 𝐛𝐲 33% 𝐢𝐧 𝐐2 𝐅𝐘24. Office leasing remained robust in India in stark contrast to what is happening in the US with Banking, Financial Services and Insurance (BFSI) firms constituted 29% of total leasing activity. Bengaluru and Hyderabad took the lead in large-sized deal closures. Scroll thorugh our 𝐒𝐢𝐦𝐩𝐥𝐞𝐚𝐬𝐞 𝐖𝐞𝐞𝐤𝐥𝐲 𝐍𝐞𝐰𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫! which includes news related to 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐦𝐚𝐝𝐞 𝐛𝐲 𝐏𝐞𝐲𝐮𝐬𝐡 𝐁𝐚𝐧𝐬𝐚𝐥, 𝐌𝐚𝐧𝐨𝐣 𝐁𝐚𝐣𝐩𝐚𝐲𝐞𝐞, 𝐚𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞𝐝 𝐢𝐧 𝐌𝐮𝐦𝐛𝐚𝐢 𝐟𝐨𝐫 ₹𝟮𝟲𝟯 𝐜𝐫𝐬, 𝐌𝟯𝐌 𝐩𝐫𝐨𝐦𝐨𝐭𝐞𝐫𝐬 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐛𝐚𝐢𝐥 & 𝐦𝐮𝐜𝐡 𝐦𝐨𝐫𝐞.. 🎯"𝗙𝗢𝗟𝗟𝗢𝗪" me [Gundeep Singh] to receive helpful market updates and insights! 🎯 Click the 🔔 in my profile to get notified of my posts #RealEstateNews #simplease

India's REITs and InvITs market have witnessed significant growth, raising Rs 1.3 lakh crore since 2019-20. Thanks to SEBI's forward-thinking regulations, REITs have emerged as a compelling asset class for individual investors. Recent interventions have enhanced accessibility, promoting inclusivity and fostering market expansion. Here's an editorial piece featuring industry voices including those of Indian REITs Association, by Nishikant Dwivedi. #REITs #InvITs #Investing #Expansion #IRA #REITsRIGHTHAI Reema H. Kundnani Shwetha ReddyCheryl D'Souza-Waldiya (She-Her)Nishank Joshi