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EFC (I) Q1 FY27 Net Profit Soars 52% to ₹70.85 Crore

NEW DELHI: EFC (I) has announced a 51.8% rise in its net consolidated profit after tax, reaching ₹70.85 crore for the quarter ending June 30, 2026. This is in comparison to a net profit of ₹46.67 crore for the same quarter last fiscal year. The company’s net consolidated total income also saw a significant increase of 31.8%, climbing to ₹294.29 crore in Q1 FY27 from ₹223.25 crore in Q1 FY26. The board of directors has approved a scheme for the demerger of EFC’s wholly-owned subsidiary, which focuses on asset-light managed office solutions, into EFC (I). This subsidiary operates through leased…

Maharashtra to establish IT park near Purandar airport

Representative AI image PUNE: On Friday, the state government announced plans to establish a new IT park near the upcoming greenfield international airport in Purandar taluka. The IT sector has welcomed this initiative, following the announcement by state industries minister Uday Samant in the assembly. However, experts urged the government to avoid repeating past infrastructure errors seen at the Hinjewadi IT park. The project, which has been discussed for the past couple of years, was confirmed in the assembly after finalizing the land for it. Samant noted, “Although the land transfer from the revenue department to MIDC is pending, we…

India Office Leasing Reaches 24.6M Sq Ft in Q2 2026

Representative AI image NEW DELHI: According to a report by CBRE South Asia, India’s office market reported gross leasing of approximately 24.6 million sq ft in Q2 2026, while new completions for the quarter reached around 21 million sq ft. The report indicates that total office absorption rose by 18% quarter-on-quarter and 14% year-on-year in Q2 2026, with supply increasing 91% sequentially and 18% year-on-year. In the first half of 2026, office absorption totaled roughly 45.5 million sq ft, while supply was about 32 million sq ft. In Q2 2026, flexible space operators emerged as the leading occupier segment, representing…