Real Estate Sector Happenings – November 26, 2025

DLF Q2 Results

DLF Limited, reported mixed results for the second quarter (Q2) of FY26. The consolidated net profit for the quarter stood at ₹1,180.09 crore, showing a significant rise of approximately 54% compared to the previous quarter (QoQ). However, on a year-on-year (YoY) basis, the net profit saw a decline of about 14-15% from the corresponding quarter last year. The decline in year-on-year profit is primarily attributed to higher overall tax expenses compared to a tax reversal reported in the same quarter last year. The company reported strong new sales bookings of ₹4,332.00 crore for the quarter, driven by the launch of ‘The Westpark’ project in Mumbai and continued momentum in the super-luxury segment.

Lodha Developers’ Net Profit Rises 86.67%

Lodha Developers (Macrotech Developers) reported a robust financial performance for the second quarter (Q2) of the fiscal year 2026. The consolidated net profit for the quarter surged by approximately 86.50% year-on-year (YoY) to ₹788.70 crore, up from ₹422.90 crore in the corresponding quarter last year. The company’s revenue from operations also saw a significant increase of nearly 45% YoY to ₹3,798.50 crore. The strong results were driven by a healthy growth in pre-sales, which were reported at ₹4,570 crore (a 7% YoY increase), showcasing the sustained demand for the company’s premium residential offerings.

Brigade Enterprises’ Net Profit Jumps 47.97%

Brigade Enterprises Ltd. reported a significant increase in its financial performance for the second quarter of the fiscal year 2026 (Q2 FY26). The company’s consolidated net profit surged by approximately 47.97% (with some sources citing 48% or 37% due to different reporting standards) year-on-year to around ₹170 crore (or ₹163 crore, depending on reporting). This robust profit growth was supported by a healthy performance in all segments, with revenue from operations growing by about 29% to approximately ₹1,383 crore. The real estate segment’s pre-sales volume for the quarter stood at a strong ₹2,034 crore.

Raymond Realty Profit Jumps Over 12x

Raymond Realty delivered exceptional Q2 FY26 results, with its net profit soaring over 12 times to ₹60.2 crore, compared to the same period last year. The revenue also saw a dramatic increase of 208% year-on-year. This growth was attributed to efficient project execution and healthy demand for its key projects, such as Ten X Era in Thane and The Address by GS in Bandra.

Signature Global Raises Rs 8.75 Billion

Signature Global (India) Ltd. has raised ₹8.75 billion (approximately $105 million) through a private placement of Non-Convertible Debentures (NCDs) to the International Finance Corporation (IFC), the lending arm of the World Bank. The proceeds from this listed debt transaction will be primarily used to develop mid-income and sustainable (green-certified) housing projects and partially reduce existing debt. The NCDs have a tenure of three years, two months, and 30 days, maturing on January 15, 2029, and are rated ‘A+’ stable by CareEdge Ratings. 17 of its projects already being EDGE-certified (Excellence in Design for Greater Efficiencies).

Shapoorji Pallonji Plans ₹22,000 Crore Fundraise

The Shapoorji Pallonji Group is planning a significant financial restructuring initiative to raise approximately ₹22,000 crore (or $2.5 billion) in the first quarter of 2026. The primary goal of this fundraise is to retire around ₹15,000 crore ($1.7 billion) of high-cost debt held by a group entity, Goswami Infratech.

Fresh Plan for Jaiprakash Associates

The promoter of the debt-laden infrastructure company Jaiprakash Associates (JAL) has re-entered the corporate insolvency resolution process (CIRP) with a fresh ₹18,000 crore resolution plan. This new offer from the Gaur family is reportedly higher than the bids submitted by major contenders like Vedanta and the Adani Group. However, the Committee of Creditors (CoC) remains unconvinced about the funding certainty of the promoter’s proposal and has reportedly asked for proof of the proposed ₹5,000 crore upfront payment. Despite the higher valuation, the CoC is currently evaluating multiple bids, with the contest primarily narrowed down to Vedanta and Adani, whose offers have higher upfront cash components, which is a major scoring criterion for the lenders.

Lavasa Corp Debt on Sale

Axis Bank initiated the sale of its ₹511 crore exposure to the financially troubled Lavasa Corporation. As the first creditor to do so, the bank is seeking buyers (such as ARCs) for the debt at a reserve price of ₹80 crore on an all-cash basis, highlighting the ongoing difficulties and delays in resolving the hill city’s bankruptcy case.

Oberoi Realty Eyes Gurugram Debut

Oberoi Realty is planning a major strategic expansion with the launch of its first project in the Delhi-NCR market, specifically Gurugram, before the end of the current financial year (FY26). The office has been opened in Gurugram and most necessary approvals, including the loading of 100% Transferable Development Rights (TDR), are nearly secured. The high-end luxury residential project, located in Sector 58, Gurugram, is expected to offer apartments ranging from 5,000 to 8,000 square feet.

Della Group Launches ₹18,000 Crore Expansion

The Della Group plans to launch ten luxury township projects across India with an estimated Gross Development Value (GDV) of over ₹18,000 crore. These developments, spanning over 1,300 acres, are set for locations including Thane, Goa, Nagpur, and Pune. The company is utilizing an innovative asset-light model where it partners with landowners to execute the projects.

Sobha Ltd.’s Unsold Properties at ₹13,000 Cr

Sobha Ltd reported having unsold inventory worth ₹13,000 crore across 10 million sq ft in its current projects. Despite this, the company is poised for significant growth, planning to launch a strong pipeline of 13 residential projects (15.96 million sq ft) and 2 commercial projects (0.74 million sq ft) across nine cities over the next 4-6 quarters. These forthcoming launches have an estimated revenue potential of ₹22,000 crore.

ITC Hotels Luxury Brand ‘Epiq Collection’

ITC Hotels announced the launch of its newest luxury brand, ‘Epiq Collection – Member ITC Hotels Group,’ as part of its ‘Asset-Right’ growth strategy. The new premium brand will focus on curating unique experiences and is set to debut with upcoming projects in culturally significant destinations, including Puri and Tirupati. ITC Hotels plans to add nearly 1,000 keys under the Epiq Collection brand in the medium term.

Lemon Tree Hotels Signs Two New Properties

Lemon Tree Hotels has announced a major expansion by signing agreements for two new properties with RJ Corp Limited under a Development Management and License Agreement. The two new hotels will be located in Ayodhya and Guwahati, both under the “Lemon Tree Premier” brand. The Ayodhya hotel is planned to feature approximately 300 rooms and is strategically located near the Shri Ram Janmbhoomi Teerth Kshetra, aiming to capitalize on religious tourism.

IHCL Infuses ₹220 Cr in IHOCO BV

Indian Hotels Company Limited (IHCL) has announced a capital infusion of nearly ₹220 crore (approximately $25 million) into its wholly-owned subsidiary, IHOCO BV, which is based in the Netherlands. The investment is intended to be used by IHOCO BV to further invest in its own subsidiaries, specifically for the repayment of debt and to meet operational requirements across IHCL’s global hospitality ventures.

Shriram Properties Eyes Rs 700 Cr Revenue

Shriram Properties Limited (SPL) has entered into a Joint Development Agreement (JDA) with a landowner to develop a premium residential project in Hinjewadi, Pune. The project is a high-rise mixed-use development spanning approximately 0.7 million square feet, with an estimated Gross Development Value (GDV) potential of around ₹700 crore. The development will include 6.5 lakh square feet of premium apartments, complemented by retail and commercial spaces. This marks SPL’s second project in Pune and reinforces the company’s asset-light, partnership-driven strategy to expand its presence in India’s western real estate markets, driven by Pune’s robust IT and industrial ecosystem.

Godrej Properties Secures RERA Nod

Godrej Properties Ltd (GPL) has achieved a significant milestone by receiving the MahaRERA approval for Phase 1 of its premium residential project, Godrej Trilogy, located in Worli, Mumbai. The first phase, which comprises two towers named Seaturf and Seafront, encompasses approximately 11 lakh sq. ft. of saleable area. The entire redevelopment project, situated on a 2.63-acre land parcel, is a key focus for the company, as it is projected to have an estimated gross revenue potential exceeding ₹10,000 crore. This development strengthens GPL’s presence in South Mumbai’s highly competitive luxury housing market.

Goa Housing Board Gets Nod

The Goa state cabinet recently approved the creation of a Legal and IT Cell within the Goa Housing Board (GHB). This decision will establish 11 new posts intended to boost the board’s operational efficiency and strengthen its capacity to deliver affordable housing through improved legal and technological infrastructure.