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adProperty News For August 2010

Momentum may slow down
Source : Business Line Published On : 2010-08-01 City : New Delhi

Aided by improved market sentiments, real-estate companies such as DLF, Sobha Developers, HDIL and Omaxe have delivered 24-112 per cent year-on-year increase in revenue for the quarter ended June 2010. But while builders believe that the recovery in the real-estate market is now well-entrenched, analysts caution that rising realty prices and an upward bias on interest rates can dampen the demand in coming quarters.

Though there is a marginal slowdown in the operating metrics in Mumbai and Delhi, the quarter has been good for most developers. However, the incremental improvement in quarter-on-quarter sales that had been visible in FY10, appears to be going away and the momentum is slowing down, says Mr Bhaskar Chakra borty, real-estate analyst at IIFL.

Market watchers feel that demand has started being hit by rising real-estate prices. On the one hand, the higher price has impacted affordability and hence demand is slowing down. On the other, rising rates have prompted more developers to launch projects, pushing up the supply, Mr Chakra borty pointed out....

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Bse realty index
Source : Business Line Published On : 2010-08-01 City : Chennai

The BSE Realty Index 3372.9 consists of 13 companies. DLF and Unitech are the heavy-weights in this index with 30 and 25 per cent weightage respectively.

This index is in a long-term downtrend since the January 2008 high of 13,848, that was also the life-time high for the index.

This downtrend will remain in force as long as the index trades below 6,000. An emphatic move above 6,000 will lift the index to 8,000 and then to 9,000 over the long-term....

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Hdil announces q1 results- reports 52.26% rise in revenues
Source : Indian Realty News Published On : 2010-08-02 City : Mumbai

New Delhi Housing Development and Infrastructure Limited HDIL, a leading real estate developer has announced its results for Q1 ended 30th June 2010. The Turnover stands at Rs. 450.92 crores and PAT available for appropriation is Rs. 234.31 crores.

Commenting on the results, Sarang Wadhawan, Managing Director of HDIL said “We are very pleased to report strong financial results including a significant percentage rise in revenues by 52.26% compared to the same quarter of the previous financial year.”

Wadhawan further added, “The Indian economy and realty market are projected to grow favorably, thereby providing us with the opportunity to further expand and consolidate our presence in the real estate market.” HDIL plans to launch four to six million square feet of residential projects in the current financial year....

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Emaar mgf to set off ipo process for the 3rd time
Source : Indian Realty News Published On : 2010-08-02 City : Gurgaon

Real estate company Emaar MGF will soon set off an initial public offering IPO process for a third time in as many years, probably at a valuation one-fourths of what it hoped for in 2008. It’s preparing a prospectus with plans to sell 10% of the company for Rs 1,500 crore from the Rs 7,000 crore it aimed for in 2008, when the market began to melt forcing it to abandon road shows.

It may seek regulatory approval by the month-end, said two people familiar with the plans. A company spokesman declined comment. The joint venture between the Dubai-based Emaar and auto lender MGF has been at the receiving end of the market for nearly three years, forcing it to trim valuations while rivals such as DLF managed to raise funds at record valuations.

The second time, when it planned to raise funds after an 81% rally in stocks in 2009, investors shunned the sector due to what they perceived to be unreasonable valuations, given the supply glut and sharp jump in home prices that may be unsustainable. Real estate has underperformed the broader market, including DLF which is at Rs 301.3, down 43% from an IPO price of Rs 525 apiece in 2007. Oberoi Realty, Lodha Developers and BPTP are among the real estate companies waiting to list. “Though sales and prices in real estate have picked up in the past couple of quarters, there’s no defined norm to decide the valuations....

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Hdfc eyes 25% loan growth this fiscal
Source : Business Standard Published On : 2010-08-01 City : New Delhi

Housing finance company HDFC today said it expects a credit growth of 25 per cent in the current fiscal. We would end the year by at least growth of 22-25 per cent, HDFC managing director Renu Sud Karnad told PTI.

During 2009-10, the mortgage lender approved loans worth Rs 60,611 crore. There is a pent up demand in housing sector, she said, adding, It is true that at some locations property prices have firmed up, which a cause of concern is.
For the first quarter ended June 30, 2010, HDFC posted a 23 per cent jump in its net profit at Rs 694.59 crore compared to Rs 564.92 crore in the same quarter a year ago.
Total income, however, declined to Rs 2,802 crore in the reporting period from Rs 2,849 crore compared to same period in the previous fiscal. During the June quarter, the company loan-book crossed the Rs 1 lakh-crore mark to Rs 1,01,625 crore, from Rs 87,046 crore in the corresponding period last year.
Earlier this month, HDFC extended its 8.25 per cent teaser rate home-loans till the end of August to take on rival State Bank in the home loan segment. During the June quarter, total assets of HDFC grew by 19 per cent to Rs 1.16 lakh crore and deposits rose 21 per cent to 23,906 crore.
For 2009-10, the mortgage lender clocked a 24 per cent jump in net profit at Rs 2,826.49-crore against Rs 2,282.54 crore in the year-ago period. The lender loan-book stood at Rs 97,967-crore in FY 10 as against Rs 85,198-crore in the year-ago period, up 15 per cent.

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