Real Estate News Update for July 20
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Regulatory
NEW DELHI: The ED on Friday said it has attached land in Gurugram, worth over Rs 300 crore, of real estate group M3M as part of a money laundering probe linked to an alleged land fraud case that also involves Congress leader and former Haryana chief minister Bhupinder Singh Hooda. To attach the land, a provisional order was issued by the federal probe agency under the Prevention of Money Laundering Act (PMLA).
Industry
NEW DELHI: Oberoi Realty has reported a growth of 81.73 per cent in its net consolidated profit during the quarter ended June 30, 2024. Its profit after tax stood at Rs 584.51 crore in Q1 FY25 as against Rs 321.64 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
Industry
NEW DELHI: Aurum Proptech on Friday reported a consolidated net loss of Rs 10.70 crore for the first quarter of this fiscal. The company had posted a net loss of Rs 16.12 crore in the year-ago period, according to a regulatory filing.
Commercial
JSW Infrastructure has acquired an office space in Navi Mumbai’s Nerul from Larsen & Toubro’s real estate development arm L&T Realty for Rs 88 crore.
Cement
NEW DELHI: UltraTech Cement Ltd on Friday reported a flat growth in consolidated net profit at Rs 1,696.59 crore for the June quarter. The leading cement maker posted a consolidated net profit of Rs 1,688.45 crore in year-ago period, the Aditya Birla group firm said in a regulatory filing.
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