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Realtors raise ammo for growth
Mint New Delhi
|February 24, 2025
Building blocks Fund raise by listed realty developers should aid their balance sheets and expansion requirements.
Residential real estate companies are amping up for the next leg of growth by strengthening their financial positions. To meet expansion needs, many listed grade A realtors are garnering funds.
Lately, the qualified institutional placement (QIP) route has emerged as the developers' choice. For instance, Godrej Properties Ltd raised ₹6,000 crore through the QIP route, followed by Prestige Estates Projects Ltd (₹5,000 crore), Macrotech Developers Ltd (₹3,300 crore) and Brigade Enterprises Ltd (₹1,500 crore).
In fact, the real estate sector contributed 16% to QIP fundraising in 2024 compared to nil in 2023, Anarock Property Consultants said in a recent report. This time, eight residential developers and one real estate investment trust (Reit) collectively raised ₹22,320 crore, Anarock said. Sobha Ltd and Ajmera Realty Ltd were exceptions, raising funds via rights issues and preference shares.
This story is from the February 24, 2025 edition of Mint New Delhi.
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