Sector: Real Estate
SEBI orders forensic audit of TARC
The order is dated December 16, 2024 whereby SEBI intimated the appointment of forensic auditor with respect to financial statements of the Company for Financial Years 2020-21 to 2022-23. Reason – SEBI believes that the disclosure of financial information and business transactions of the Company have been dealt with in a manner which may be … Read more
SEBI directs Embassy to suspend the CEO
In an unusual directive, SEBI asked Embassy Office Parks Management Services, the manager of Embassy REIT, to suspend the CEO Aravind Maiya through an interim order. The regulator also told the Embassy to immediately appoint an interim CEO. The directive came in the wake of concerns about Maiya’s professional background following an investigation by the … Read more
Shriram Properties provides aggressive growth targets
Real estate sector in India is facing strong traction, especially the residential real estate. Almost every company is providing aggressive growth targets. Now Shriram Properties (SPL), while unveiling it’s new brand identity has provided ambitious growth targets. The Company has embarked on a mission – called, SPLNxT – towards accelerating growth, repositioning brand and enhanced … Read more
Gautam Adani plans to cede control to family by early 2030s
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more
Affordable housing thrust a big boost for the home finance sector
The Indian real estate sector has been experiencing a significant boom in recent quarters, driven by factors such as rapid urbanisation, policy reforms, increase in disposable income and a continuous growth in consumer sentiments. Last year, the sector registered remarkable progress, consolidating its position among various other sectors. And indeed, the Finance Minister has given … Read more
Raymond decides to demerge the real estate business
Raymond Limited (RL) has announced the vertical demerger of its Real Estate (RE) Business. RE business will be first demerged into its wholly owned subsidiary, Raymond Realty Limited (RRL). Upon completion of this demerger, Raymond Ltd and Raymond Realty Limited (RRL) will operate as separate listed entities within the Raymond Group post all statutory approvals. … Read more