Experion Developers to invest Rs 1,500 cr to build new projects in Noida
Realty firm Experion Developers will invest about Rs 1,500 crore to develop a luxury housing project in Noida as part of its expansion plans amid sharp rise in demand for residential properties. Gurugram-based Experion Developers has registered its new project 'Experion Elements' with real estate regulatory authority, RERA, for launch.

The company, a wholly owned subsidiary of Experion Holdings Pte Ltd, Singapore, will develop around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh. In the first phase, around 160 units are being launched for sale. Experion Developers CEO Nagaraju Routhu said the company is entering Noida, which is an important real estate market in Delhi-NCR. With the receipt of the RERA registration for this project, he said the company is launching the first phase of this project comprising 160 units. The company had bought this land from the state government through auction process to develop this housing project.

IndoSpace starts work on $700-800 million InvIT, to list next year
Mumbai: Everstone-backed IndoSpace, which develops and manages industrial and logistics parks in India, has started work on floating an infrastructure investment trust (InvIT) and raise around $700-800 million, sources said. This will be the largest InvIT in India.

MahaRERA flags 212 projects for lack of construction updates, raising concerns
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has flagged 212 projects in the state, launched during January to April 2023, that have not updated the regulator about their construction status, raising doubts about their progress and concern that they may not be keeping to their timelines.

Suraj Estate Ltd.’s shares up on entry into residential development in Bandra
Suraj Estate Developers Limited’s shares were up by 0.93 per cent after the company announced its foray into the residential real estate development in the Bandra sub-market. The company reported the move marks expansion for them, which is known for its focus on value luxury and commercial segments. 

For cement firms, Q4 could be forgettable as realizations crumble
When cement prices hit a peak in October, the prospects for the sector’s FY24 realizations seemed bright. But hopes were dashed as prices corrected in the next five months. The fallout of weakness in cement prices would be visible in cement makers’ March quarter (Q4FY24) results.

Sagar Cements is this week's top stock; here's why
The cement player is expected to report a 13% yearon-year jump in revenue in the March 2024 quarter, according to consensus estimates of analysts compiled by Reuters-Refinitiv. The performance will be supported by momentum in cement demand that picked up in February and March due to traction in infrastructure and real estate sectors. While the operating profit is expected to jump significantly amid cost efficiencies, the decline in realisations in the cement industry is likely to impact profitability. The volumes are expected to moderate over the next two quarters due to the impact of Lok Sabha elections and state elections in Andhra Pradesh. However, analysts expect the ramp-up in new capacities to support the company’s revenue growth over the next two years.

Gautam Adani’s Ambuja Cements draws up $9-billion war plan for Ultratech battle
Mumbai : Billionaire Gautam Adani’s Ambuja Cements Ltd plans a series of acquisitions and investments as part of a $9-billion quest to overpower Aditya Birla Group’s Ultratech Cement Ltd as the country’s largest cement-maker.

FE Exclusive | Andheri Railway Station Redevelopment: Stands as an icon, ready to reshape Mumbai’s urban terrain
Indian Railways serves as the backbone of the country, weaving through the nation to promote connectivity and fuel economic growth. Within this narrative, Andheri Railway Station emerges as a crucial hub, playing a central role in shaping the urban fabric. Situated in the bustling metropolis of Mumbai, Andheri Station symbolises progress and is deeply ingrained in the city’s identity as the financial capital of India. As Mumbai strides ahead, the redevelopment of this iconic station becomes pivotal in reshaping the city’s urban terrain.

India’s major ports see 5% rise in traffic in FY24, driven by iron ore exports, coking coal imports
New Delhi: India’s major ports saw a 5 per cent-odd y-o-y increase in cargo traffic, including container movement, to 819.3 million tonnes (mt), driven by rising iron ore exports and increasing coking coal imports. Cargo traffic in the earlier fiscal (FY23) was 784.3 mt, data by the Indian Ports Association, accessed by businessline , show.