The offer, with a face value of ₹5 per equity share, comprises an Offer for Sale (OFS) of up to 3.55 crore shares by the company’s promoter, Mr. Vijay Surana J. No fresh issue component has been announced.

Company Overview

Incorporated in 2004, Grand Housing focuses on plotted real estate development primarily in Tamil Nadu, especially in and around Chennai. The company’s business model involves:

• Acquiring parcels of land
• Building basic infrastructure — roads, power, sewage, water
• Converting the parcels into developable land for residential or industrial use

In some cases, Grand Housing acquires contiguous parcels to create larger tracts for more economically viable development.

Project Segments

1. Residential Plotted Development
   • Target buyers: individual homeowners constructing houses or villas
   • Plot sizes: 600–2,400 sq. ft.
   • Pricing: ₹1,500–₹5,000 per sq. ft.
2. Industrial Plotted Development
   • Focuses on large contiguous parcels for industrial use

The company’s operations are concentrated in Chennai, one of India’s most urbanized and economically dynamic cities, benefiting from cultural heritage, moderate climate, and robust population growth.

Land Bank and Financials

As of March 31, 2025, Grand Housing had land reserves of 83.13 million sq. ft. (1,908.52 acres), excluding ongoing, completed, and upcoming projects.

• Revenue from operations: ₹156.66 crore in FY25 (vs ₹94.61 crore in FY23)
• Net profit: ₹84.59 crore in FY25 (vs ₹30.92 crore in FY23)

IPO Structure & Listing Plan

The IPO will be carried out through the book-building process:

• QIBs: Not more than 50% of the offer
• Non-institutional bidders: Not more than 15%
• Retail investors: At least 35%

Smart Horizon Capital Advisors is the Book Running Lead Manager, and Bigshare Services Pvt. Ltd. is the Registrar. The company’s equity shares are proposed to be listed on BSE and NSE.

Also Read: WeWork India Files DRHP with SEBI for IPO

The post 🏠 Grand Housing Files DRHP for ₹5 Face Value IPO; Entire Offer is OFS by Promoter appeared first on Square Feat India.

The decision to allot Plot No. C-82 in BKC’s G-Block was granted post facto approval during the 159th meeting of the MMRDA Authority. The move came in response to NSE’s request dated October 11, 2024, seeking additional land to expand its operations and accommodate a built-up area of approximately 4 to 5 lakh square feet.

Plot Details:

• Plot Number: C-82
• Plot Area: 5,500 sq. meters
• Permissible FSI: 4.00
• Permissible Height: 69.52 meters (as per CAA NOC dated 18/09/2018)
• Built-Up Area: 22,000 sq. meters
• Lease Period: 80 years
• Usage: Commercial (New Administrative Building for NSE)
• Lease Premium: ₹757.90 crore

This is NSE’s second land allotment in BKC, following the 1993 allocation of Plot C-1 (16,038.3 sq. mt.) where its current headquarters, Exchange Plaza, is located. At the time, MMRDA had relaxed certain provisions of its Land Disposal Regulations to facilitate NSE’s presence in the newly developing commercial zone.

As per a government notification issued on July 19, 2024, NSE will also have the option to acquire additional built-up area beyond the prescribed FSI limit by paying the requisite premium to MMRDA.

Following the Commissioner’s recommendation, the allotment was formally approved by the Hon’ble Deputy Chief Minister and Urban Development Minister, Shri Eknath Shinde, who also serves as Chairman of MMRDA. The offer letter was issued to NSE on March 7, 2025.

Leaders Speak:

Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, said:
“This decision reflects Maharashtra’s commitment to fostering financial growth and infrastructure development. By enabling NSE to expand its footprint in Bandra-Kurla Complex, we are reinforcing Mumbai’s position as the financial capital of India and ensuring a conducive business environment for key institutions.”

Eknath Shinde, Hon’ble Deputy CM & Chairman, MMRDA, stated:
“The allotment of Plot C-82 to NSE is part of MMRDA’s efforts to strengthen BKC as a key financial hub. This step will boost commercial growth, support NSE’s expansion, and contribute to Mumbai’s economic development.”

Dr. Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, added:
“MMRDA is focused on developing Mumbai’s commercial infrastructure. The allotment of Plot C-82 to NSE will support the exchange’s expansion and strengthen BKC as a top business district.”

The upcoming administrative facility will enhance NSE’s operational scale, provide modern infrastructure, and accommodate its growing workforce. With this move, the exchange deepens its roots in Mumbai’s commercial landscape, while the state government underlines its long-term vision to transform BKC into a global financial powerhouse.

Also Read: Mumbai Metropolitan Region Development Authority (MMRDA)

The post NSE to Build New HQ on ₹757.90 Crore Land in BKC Allotted by MMRDA appeared first on Square Feat India.

By Varun Singh

Continuing to reap dividends from the post-pandemic surge in demand for branded homes, the top 9 stock exchange-listed developers raked in INR 14,883 Cr of revenue bookings in H1 FY22 – a sharp uptick from INR 9,483 Cr in the same period of the previous fiscal.

Even as the second COVID-19 wave wreaked economic havoc during Q1FY 22, these players effectively clocked a 57% annual growth in their overall residential booking revenues in H1 FY22.

• With cumulative revenue bookings of approx. INR 14,883 Cr in H1 FY22 against INR 9,483 Cr in H1 FY21, listed players performed well despite 2nd COVID-19 wave
• 18.46 Mn sq. ft. of residential area sold by these players in H1 FY22 against 13.28 mn sq. ft. in the year-ago period – yearly growth of 39%
• Total residential area sold in H1 FY22 surpassed corresponding pre-COVID-19 period when approx. 17.2 mn sq. ft. area was sold

Anuj Puri, Chairman – ANAROCK Group, says, “In terms of area, these 9 listed developers sold approx. 18.46 mn sq. ft. of housing space in H1 FY22, again in remarkable contrast to approx. 13.28 mn sq. ft. in the corresponding period a year ago. Amounting to an annual growth of 39%, the total residential area sold in H1 FY22 has also surpassed that of the corresponding pre-COVID-19 H1 period (FY20 period), when approx. 17.2 Mn sq. ft. area was sold.”

The top listed developers analysed are Sobha Ltd., Puravankara Ltd., Prestige Estates, Brigade Enterprises Ltd., Mahindra LifeSpaces Developers Ltd., Godrej Properties Ltd., Oberoi Realty Ltd., Kolte-Patil Developers, and Macrotech Developers (previously Lodha Group). ANAROCK has collated data as per investor presentations of each of the companies.

Driven by homebuyers’ increasing preference for branded homes, the listed developers have once again out-performed the market. Notably, these players have also reconfigured their supply pipeline to deliver projects in the affordable, mid-segment and premium segments. The ongoing low interest rate regime and homebuyers’ desire to avoid construction-related risks also played a role.

“Less than a decade ago, a largely speculator-driven housing market saw unnatural demand chasing the wrong kind of supply,” says Puri. “Today, these players are unleashing right-priced, right-sized supply clearly aimed at organic end-user demand. This is the result of intensive market research before pressing the ‘commit’ button and is one of the most notable features of the reinvented Indian housing market.”

Quarterly Trends

As expected during H1 FY22, the residential market’s second-quarter performance was significantly better than the first. For the Indian economy at large, the second pandemic wave in April and May of this fiscal year was far more devastating than the first wave in 2020 that had a major dampening impact on residential activity. Nevertheless, in terms of activity, the second wave quarter fared slightly better than the first.

Quarterly Performance – Key Highlights:

• The top 9 listed players collectively sold homes worth INR 10,669 CR in Q2 of FY22 (July to September). Their booking revenue in this given quarter rose by a staggering 89% against the same period in the last fiscal (Q2 FY21), when it was INR 5,645 Cr.
• The total area sold by these developers in Q2 FY22 also saw an 83% growth – from approx. 7.38 mn sq. ft. in Q2 FY21 to nearly 13.47 mn sq. ft. in Q2 FY22.
• As for the first quarter of FY22 (when the second pandemic wave was at its worst), the top 9 listed players sold approx. 4.99 mn sq. ft., while a year ago in Q1 FY21, the area sold was more at 5.9 mn sq. ft. 
• While in the first quarter of FY22, the total area sold by these top 9 developers saw a yearly drop of 15% compared to Q1 FY21, their booking revenue was 10% more than the preceding period – approx. INR 4,214 Cr in Q1 FY22 against INR 3,838 Cr in Q1 FY21. This may indicate higher sales in the mid to premium categories.

Also Read: Listed builders beat slowdown make sales worth Rs 228 Bn in FY2019.

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