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Mumbai, 3rd December 2024 Godrej Properties Limited (GPL), a prominent name in the Indian real estate industry, has successfully raised ₹6,000 crore through a Qualified Institutional Placement (QIP). This marks the largest QIP by a real estate developer in India and underscores strong investor confidence in the company’s growth trajectory. The offering witnessed overwhelming demand, nearly four times the initial size of the QIP. The investor pool included renowned global and domestic entities such as GIC, BlackRock, Aberdeen, Norges Bank, SBI Pension Fund, and ICICI Prudential Life Insurance. Following the capital infusion, GPL’s net worth has surged by over 50%, with an equity dilution of 7.68%. The company’s net debt-to-equity ratio has improved significantly, dropping to below 0.2:1 from 0.7:1 as of September 30, 2024. Speaking on the development, Pirojsha Godrej, Executive Chairperson of Godrej Properties, said, “We are thrilled by the overwhelming response to our QIP. This support from the investment community is a testament to our strategy and performance. With this capital, we aim to scale our operations, strengthen our balance sheet, and accelerate business development while continuing to deliver value to our stakeholders.” A Strong Growth Trajectory Godrej Properties has demonstrated remarkable growth in recent years, with a 56% increase in bookings in FY23, 84% in FY24, and a staggering 90% growth in the first half of FY25. The company has already surpassed its FY25 business development guidance of ₹20,000 crore in estimated booking value within the first seven months of the fiscal year. Pirojsha Godrej added, “Over the last few years, GPL has redefined its scale, achieving consistent growth in bookings and strengthening its market position. This capital raise will allow us to expand our project pipeline, execute launches across key markets, and maintain a strong balance sheet. We are committed to driving market share gains and margin improvements while delivering sustainable growth.” Strategic Utilization of Funds The funds raised will be used to expand GPL’s project pipeline, allowing the company to capitalize on opportunities in India’s growing real estate market. With launches planned across seven cities in the upcoming quarters, GPL aims to sustain its momentum and surpass its FY25 booking value guidance of ₹27,000 crore. Industry Leadership In FY25, Godrej Properties emerged as the largest real estate developer in India by bookings and the fastest-growing large business across sectors in FY24, achieving an impressive 84% sales growth. The QIP was managed by Jeffries, Morgan Stanley, Bank of America, and Kotak Mahindra Bank, ensuring a seamless and successful fundraising process.

Mumbai, 3rd December 2024: The real estate sector has emerged as the top beneficiary of Alternative Investment Funds (AIFs) in the first half of FY25, attracting a significant ₹75,468 crore, accounting for 17% of the ₹4,49,384 crore AIF investments across all sectors, as per SEBI data compiled by Anarock. This marks a 10% rise from ₹68,540 crore at the close of FY24. In addition to AIFs, the sector raised ₹12,801 crore through Qualified Institutional Placements (QIPs) during the same period, representing another 17% of total investments. These numbers underscore the robust investor confidence in India’s real estate market, driven by growing demand and declining unsold inventory across major cities. The real estate sector’s performance was bolstered by an increasing reliance on equity financing, particularly through Category II AIFs, which include real estate funds, private equity, and debt funds. Category II AIFs have accounted for nearly 80% of total AIF commitments over the last five years, showcasing their flexibility and tailored investment strategies. Foreign Portfolio Investors (FPIs) have also ramped up their participation in Category II AIFs, matching domestic investors in funding key real estate projects. Mr. Prashant Sharma, President of NAREDCO Maharashtra, highlighted the pivotal role of AIFs in bridging critical funding gaps in the real estate sector. “The record ₹75,468 crore invested in real estate through AIFs in H1 FY25 underscores the sector’s resilience and growth potential. With robust sales in major cities and a consistent decline in unsold inventory, investors recognize the sector’s long-term value. AIFs are not just funding projects; they are shaping the future of urban infrastructure and housing in India.” Adding to this, Mr. Kuldeep Jain, Founder and CEO of Build Capital, emphasized the role of AIFs in transforming the real estate investment landscape. “The growing reliance on Category II AIFs highlights their transformative role in reshaping the real estate sector. These investment vehicles not only channel significant capital into the industry but also bring in-depth expertise in partnering with reputed developers, ensuring strategic asset selection and prime location analysis, and achieving timely financial closure. This comprehensive approach not only facilitates project completion and delivery but also drives higher and secured returns for investors. By addressing the increasing demand for housing and urban infrastructure, AIFs reaffirm real estate as a preferred asset class for institutional investors, combining stability with consistent value creation to enhance its long-term investment appeal.” As per Anarock data, more than 1.36 million units have been launched in the top seven cities between 2021 and end-September 2024. Concurrently, about 1.44 million housing units have been sold in these cities year-to-date. Strong demand led to a more than 10% decline in unsold housing inventory in this period, despite the high rate of supply addition. These trends are a testament to the sector’s growing appeal to institutional investors. The consistent rise in AIF commitments, supported by both domestic and foreign investors, is expected to further fuel the growth of India’s real estate sector. As developers tap into these resources to meet rising housing demand and infrastructure needs, the sector is poised to maintain its dominant position in the investment landscape. With innovative funding mechanisms like AIFs leading the charge, real estate is set to remain a cornerstone of India’s economic growth story.

Mumbai, November 26, 2024 CREDAI-MCHI, the apex body of real estate developers, has unveiled its latest research analysis, spotlighting a transformative shift in India’s urban housing markets towards luxury and premium properties. The study reveals significant growth in average ticket sizes and total sales values across India’s top seven metropolitan cities during H1 FY2025 (April-September 2024). The data highlights a remarkable 18% increase in total sales value, which surged to ₹279,309 crore, compared to ₹235,800 crore in the same period of FY2024. Despite a modest 3% decline in total units sold, the average price of homes rose sharply to ₹1.23 crore in H1 FY2025, compared to ₹1 crore in H1 FY2024, underscoring the growing preference for premium homes. Speaking on the findings, Keval Valambhia, Chief Operating Officer, CREDAI-MCHI, stated, “The growth trajectory of India’s luxury housing market is a testament to its resilience and adaptability. Buyers are increasingly gravitating towards premium properties that offer enhanced lifestyle experiences and robust investment value. At CREDAI-MCHI, we remain committed to fostering an environment that supports this growth, ensuring a balance between innovation, quality, and sustainability in urban real estate development.” Key Highlights from the Report The total sales value across the top seven cities surged by 18%, reaching ₹279,309 crore in H1 FY2025, reflecting increased demand for luxury housing. The average ticket size rose to ₹1.23 crore, marking a significant jump from ₹1 crore in H1 FY2024. In city-wise performance, NCR emerged as a leader, with the average ticket size growing by an impressive 56% to ₹1.45 crore and sales value rising by 55% to ₹46,611 crore. MMR demonstrated its consistency, with an average ticket size stable at ₹1.47 crore and sales value increasing by 2% to ₹114,529 crore. Bengaluru showcased robust growth, with the average ticket size rising by 44% to ₹1.21 crore and sales value increasing by 44% to ₹37,863 crore. Hyderabad followed suit, with its average ticket size growing by 37% to ₹1.15 crore and sales value increasing by 28% to ₹31,993 crore. Chennai saw a 31% increase in the average ticket size to ₹95 lakh, with sales value rising by 20% to ₹9,015 crore. Pune’s market reflected strong growth in the affordable luxury segment, as its average ticket size rose by 29% to ₹85 lakh and sales value jumped by 19% to ₹34,033 crore. Kolkata experienced moderate growth, with the average ticket size increasing by 16% to ₹61 lakh. Across the board, buyers are prioritizing larger, well-equipped homes in prime locations, signaling a shift towards premium living. The consistent rise in sales value across cities underscores resilient demand for high-end properties, even in regions where unit sales saw a modest decline. Cities like NCR and Bengaluru stood out with significant growth in high-value property transactions, reflecting their appeal among affluent buyers. With rising disposable incomes and a growing inclination towards premium housing, the luxury real estate segment is poised for sustained growth. Developers are urged to innovate, focusing on sustainability, world-class amenities, and design excellence to meet the evolving needs of buyers. The findings of this report reaffirm CREDAI-MCHI’s role in shaping the future of India’s urban housing landscape, fostering informed decision-making among stakeholders, and driving the real estate sector towards unprecedented heights. ABOUT CREDAI-MCHI CREDAI-MCHI is an apex body comprising members from the Real Estate Industry in the Mumbai Metropolitan Region (MMR). With an impressive membership of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibag, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognized body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry’s organization and progress. As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organized, and progressive real estate sector in the MMR. The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting the Government on policy advocacy, and assisting those they serve through the ever-evolving real estate fraternity. Website: https://mchi.net/ For further media queries, please contact: Sonia Kulkarni | 9820184099 sonia.kulkarni@hunkgolden.in

Mumbai, 25th November 2024 With the formation of a new government in Maharashtra, the real estate sector is abuzz with hopes for transformative policies that will unlock the state’s vast potential. Industry leaders are having high expectations from the government underlining the sector’s pivotal role in driving the state’s economic and social progress. Prashant Sharma President, NAREDCO Maharashtra “The real estate sector in Maharashtra looks forward to proactive governance that fosters growth and investment. Our key expectations from the new government include faster clearances for real estate projects, an improved ease of doing business environment, and policies that promote affordable housing. A collaborative approach between the government and industry stakeholders can not only streamline development processes but also ensure that the state remains a leader in infrastructure and housing innovation.” Anil Mutha Chief Visionary & Co-Founder, Nandivardhan Group “With the new government in Maharashtra, the real estate sector stands at the brink of transformative growth. Streamlined regulatory processes to expedite project approvals will accelerate the construction cycle, creating benefits for both developers and homebuyers. Prioritizing infrastructure development in connectivity and utilities is vital for unlocking the potential of emerging real estate markets. Enhanced infrastructure will not only attract investments but also improve living standards across the state. Additionally, fiscal incentives such as reduced stamp duty and tax benefits could play a pivotal role in revitalizing buyer sentiment. A strong, collaborative dialogue between the government and industry stakeholders is essential to address persistent challenges and realize the sector’s immense potential. We remain optimistic about bold actions that will fulfill housing aspirations, elevate living conditions, and contribute significantly to Maharashtra’s economic growth.” Vikas Sutaria Founder, Iraah Lifespaces “Maharashtra’s real estate sector requires a forward-thinking government that recognizes the potential of luxury and second-home markets. By focusing on infrastructure connectivity, especially in emerging regions like Alibaug & Lonavala, and introducing tax incentives for investments in premium projects, the state can attract high-net-worth individuals and investors. Streamlining policies for sustainable and luxury developments will create a more robust real estate ecosystem.” Samyak Jain Director, Siddha Group “The real estate sector in Maharashtra anticipates a new government that prioritizes sustainable growth through faster project approvals, streamlined RERA compliances, and enhanced connectivity to boost infrastructure development. Additionally, incentivizing affordable housing, reducing development costs, and ensuring a transparent regulatory environment will position Maharashtra as a leader in creating holistic urban spaces and driving future growth.” Vedanshu Kedia Director, Prescon Group “The new government must prioritize urban regeneration, particularly slum rehabilitation and redevelopment projects along with city/ town beautification projects which are crucial for a city like Mumbai. Additionally, fostering an investment-friendly ecosystem through regulatory consistency and infrastructure upgrades will drive the growth of the sector and enhance Maharashtra’s real estate appeal.” Rohan Khatau Director, CCI Projects “Our primary expectation from the new government is to create a policy framework that simplifies regulatory processes and fosters confidence among developers and homebuyers alike. Reducing the tax burden, including stamp duty and GST, and ensuring smoother project execution can unlock the potential of the real estate sector, making Maharashtra a global investment hub.” Kuldeep Jain Founder & CEO, Build Capital “As Maharashtra ushers in a new government, the focus should be on driving economic growth through streamlined approvals and transparent regulations. A balanced policy framework that promotes development while ensuring sustainability is crucial. Addressing delays in environmental and regulatory clearances is essential. Implementing a timeline-driven clearance policy and a unified one-window system will reduce bottlenecks, enhance transparency, and instill confidence among developers and financial institutions. This will pave the way for innovative financing solutions, benefiting both developers and homebuyers. Infrastructure-led growth corridors must be prioritized to unlock emerging markets, boost connectivity, and attract private equity investments, positioning Maharashtra as a key economic driver. A progressive and transparent regulatory framework will ensure sustainable growth and solidify the state’s reputation as a premier investment destination. The new leadership must act decisively to secure Maharashtra’s prosperous future.” Shraddha Kedia-Agarwal Director, Transcon Developers “As industry stakeholders, we anticipate a government that champions reform and efficiency. We urge the new leadership to focus on single-window clearance systems, rationalization of stamp duty, and innovative financial support for developers. Strengthening infrastructure around growth corridors and supporting sustainable urban development will also catalyze sectoral growth.” Govind Krishnan Muthukumar Managing Director & Co-Founder, Tridhaatu Realty “The new government must prioritize policy frameworks that streamline key initiatives, particularly in urban centers like Mumbai. Addressing bottlenecks in approvals and introducing incentives for redevelopment will not only rejuvenate aging infrastructure but also create much-needed housing. Additionally, the government’s focus should be on fostering public-private partnerships that ensure timely execution of urban regeneration projects while maintaining sustainability at the core.” Deepak Nair COO & Co-Founder, The Mentors Real Estate Advisory Pvt. Ltd. “We hope the new government will adopt a consultative and industry-inclusive approach to policy making. Simplifying regulatory compliance, promoting ease of doing business, and reducing approval timelines can significantly accelerate real estate development. Moreover, introducing measures to encourage foreign investments and infrastructure development around key urban hubs will elevate Maharashtra’s real estate sector to global standards.” Himanshu Jain VP – Sales, Marketing & CRM, Satellite Developers Private Limited (SDPL) “The real estate sector looks forward to the new government focusing on holistic urban planning and infrastructure upgradation. Policies that address challenges like approval delays, high financing costs, and project execution bottlenecks can transform the state into a real estate powerhouse. The introduction of single-window clearances, along with reforms in taxation such as reduced GST and stamp duty, will greatly enhance the ease of doing business.”

Mumbai, 14th November 2024: 1 Finance, a financial services institution focused on the personal finance space in India, has collaborated with NAREDCO Maharashtra NextGen as the Research Partner for Excelerate 3.0. The event unveiled the research report entailing  a detailed examination of Greater Mumbai’s current real estate landscape, including pricing trends, transaction volumes, and inventory levels. The event was graced by key industry leaders and dignitaries, namely Dr. Niranjan Hiranandani, Chairman, NAREDCO National; Mr. Rajan Bandelkar, Vice-Chairman, NAREDCO National; Mr. Prashant Sharma, President, NAREDCO Maharashtra; Mr. Ridham Gada, President, NAREDCO Maharashtra NextGen; Mr. Rajesh Doshi, Secretary, NAREDCO Maharashtra, amongst other industry leaders. The key highlights of the research report articulated India’s residential real estate sector undergoing a significant transformation over the past decade, shaped by economic shifts, regulatory changes, and evolving consumer preferences. This evolution forms the bedrock of the current market dynamics and challenges that have been observed, particularly in Greater Mumbai and other major metropolitan areas. Theaverage PSF rate in Greater Mumbai stands at ₹32,150 29%of homes sold in Greater Mumbai are priced above ₹2 crores Affordabilityin Greater Mumbai for affluent-middle class is the least among top cities While the challenges in Greater Mumbai’s real estate market are evident, it is crucial to view real estate investment through a broader lens. Real estate, as an asset class, has consistently delivered competitive returns compared to other traditional investments such as equities, debt, and gold. Over the past decade, real estate (including rental yield) has provided an average return of 12%, which is comparable to gold and higher than debt, which averaged 7%. Furthermore, real estate offers unique advantages that set it apart from traditional investments, providing a balance of returns and security, making it an ideal asset for diversification. For people looking to buy homes in Greater Mumbai, the key lies in thorough research, a long-term perspective, and an understanding of the local market dynamics. By focusing on high-potential micro markets, leveraging the inherent advantages of real estate, and aligning with reputable developers, they can own a home in Greater Mumbai while potentially reaping the rewards of this enduring and multifaceted investment option. Source: CMIE Economic Outlook, ACE MF, NHB, BIS, 1 Finance Research *Last 10-year correlations (as of 30th Jun 2024) Commenting on the unveiling of the research report, Mr. Prashant Sharma, President, NAREDCO Maharashtra, said, “The report makes a compelling case for regulatory reforms, including the rationalism of premiums and streamlining of approval processes. To succeed, we need strong collaboration between the public and private sectors. NAREDCO Maharashtra is committed to working closely with government bodies, financial institutions, and other stakeholders to create a more efficient and inclusive real estate ecosystem. Our focus remains on driving the ‘Housing for All’ and ‘Affordable Housing’ initiatives.” Sharing his vision through this report, Mr. Keval Bhanushali, Co-founder & CEO at 1 Finance, said, “We are proud to introduce India’s first unbiased real estate price indices for top cities. At 1 Finance, we believe that real estate advisory should be standard practice in India’s financial planning ecosystem. Our goal is to elevate real estate to its rightful place as a legitimate investment class, alongside other traditional options. This report is a significant step towards that objective, offering a comprehensive view of the market that will benefit homeowners, developers, and policymakers alike.” Mr. Ridham Gada, President, NAREDCO NextGen Maharashtra said, “This research highlights the pressing affordability challenges in Greater Mumbai’s real estate market. To address these, we need a collaborative approach between developers, policymakers, and financial institutions. NAREDCO Maharashtra NextGen is committed to driving innovation, supporting regulatory reforms, and advocating for affordable housing to ensure Mumbai remains a thriving global metropolis with accessible homeownership for all.” The affordability issue in Greater Mumbai due to high property prices is deeply linked with government policies and premiums. These policies, while aimed at regulating development and generating revenue for urban infrastructure, have become a double-edged sword, particularly in the Mumbai context. This affordability challenge has not only affected property prices but also led to a significant reduction in apartment sizes, a trend that carries profound implications for the quality of urban life. The path to a more affordable and sustainable real estate market in Mumbai is clear. It requires bold action, collaboration between the public and private sectors, and commitment to long-term urban planning. By addressing these crucial areas, Mumbai can not only solve its housing challenges but also reinforce its position as India’s premier metropolis, setting a benchmark for urban development across the nation.

Mumbai, 12th November 2024: Bollywood Actor Shahid Kapoor and his wife Mira Kapoor have leased out their luxurious apartment in the Worli area of Mumbai for ₹20 lakh per month, with a five-year rental agreement, as per property registration documents reviewed by the media. The apartment, located in Oberoi Realty’s Three Sixty West project, spans 5,395 sq ft and comes with three parking spaces, according to the documents. The lease agreement, registered on November 7, 2024, is for a duration of 60 months and has been rented to Dipan Bhuptani, a senior executive at D’Decor Home Fabrics. The initial security deposit for the property is ₹1.23 crore. According to the media reports, the property is expected to generate a gross rental yield of 4-5%. The rental agreement follows a tiered structure, with the monthly rent starting at ₹20.5 lakh and increasing to ₹23.98 lakh by the end of the lease term. The first 10 months are rent-free, as per the terms outlined by Square Yards. The apartment, originally purchased by the Kapoors in May 2024 for nearly ₹60 crore, is located on a higher floor of the building. The property was part of a bulk deal in February 2023 when 28 apartments were acquired by Radhakishan Damani’s family and associates for ₹1,238 crore. Shahid Kapoor is now among a growing number of celebrities who have leased out their luxury properties in Mumbai. Other notable figures recently renting out their homes include Kartik Aaryan, Ranveer Singh, and producer Sajid Nadiadwala.