Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

Smartworks Reports ₹10.52 Crore Net Profit in FY26

NEW DELHI: Smartworks Coworking Spaces has announced a net consolidated profit of ₹10.52 crore, with total income amounting to ₹1,849.90 crore for the financial year 2025-26. In Q4 FY26, the company’s net consolidated total income reached ₹532.70 crore, while profit after tax was ₹16.62 crore. The company reported a net debt of -₹56 crore, concluding FY26 with net cash and a reduction in gross debt by over 50% since its IPO. The cost of borrowing dropped below 9%, decreasing approximately 180 bps year-on-year. Neetish Sarda, the founder and managing director, stated, “This year, we became the first listed flex workspace…

CommercialLatest Stories

Co-Working Spaces Create GST Registration Challenges

AHMEDABAD: Businesses utilizing co-working spaces and seeking GST registration are experiencing heightened scrutiny from tax authorities throughout the state. Despite such registrations being legally acceptable, officials are showing caution, particularly when multiple companies share the same address, often suspecting the existence of shell companies or fraudulent entities aimed at tax evasion. Applicants report that government officials frequently request proof of exclusive office space possession, despite co-working arrangements providing licensed access to desks and cabins rather than formally leased premises. In numerous cases, GST applications have been denied because another business is already registered at that location. Chartered accountant Karim Lakhani…

CommercialLatest Stories

Accenture Leases 600K Sq Ft in Pune for ₹325 Crore GCC Plan

Sure! Here’s the rewritten content with a fresh flow: MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal. The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June. The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore…

CommercialLatest Stories

Brigade Group and Bain Capital to Develop 2M Sq Ft in Bengaluru

Representative AI image NEW DELHI: Brigade Group and Bain Capital are set to develop a mixed-use project in Whitefield, Bengaluru. The development will be executed through a 50:50 joint venture between the two entities, with a total investment of around ₹2,200 crore on an approximately 11-acre site. The integrated project is projected to encompass around two million square feet, featuring grade-A office space and a five-star hotel managed by an international brand. Recently, the company acquired a 5.72-acre land parcel in Osman Nagar, Hyderabad, at a price of ₹44 crore per acre. It plans to establish a residential project on…

CommercialLatest Stories

Maharashtra Advances on ₹1,600 Crore Air India Building Buyout

MUMBAI: The Maharashtra government is moving toward acquiring the historic Air India building in South Mumbai. The Finance Department has transferred ₹1,600 crore to the Public Works Department, initiating the process to finalize an agreement with Air India Assets Holding Limited. A senior PWD official mentioned that a draft of the agreement will be reviewed to ensure accuracy and is expected to be signed within the next two weeks. The Centre approved the building’s sale to Maharashtra for ₹1,601 crore in March 2024, and the state cabinet gave the go-ahead for the acquisition in November 2025. Once the agreement is…

CommercialLatest Stories

Bagmane Prime Office REIT to Launch ₹3,405 Crore IPO May 5

NEW DELHI: Backed by Blackstone, Bagmane Prime Office REIT is set to launch its initial public offering (IPO) of Rs 3,405 crore, which is scheduled to open on May 5 and conclude on May 7. The anchor investor bidding will occur on May 4, as indicated in the offer document. The IPO includes a fresh issue of units worth up to Rs 2,390 crore and an offer-for-sale (OFS) of units totaling up to Rs 1,015 crore from the selling unitholder. Funds raised from the IPO will be used to acquire Luxor at Bagmane Capital Tech Park (comprising one million sq…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…

CommercialLatest Stories

Embassy Office Parks REIT’s FY26 NOI Soars 15%

NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has reported a 15% increase in its net operating income (NOI) totaling ₹3,760 crore for the financial year 2025-26. The Board of Directors of Embassy Office Parks Management Services (EOPMSPL), the manager for Embassy REIT, declared distributions of ₹6,161.31 million (or ₹6.50 per unit) for the quarter ending March 31, 2026. This distribution includes ₹132.71 million (₹0.14 per unit) as interest, ₹1,317.57 million (₹1.39 per unit) as dividends, and ₹4,711.03 million (₹4.97 per unit) toward repayment of SPV-level debt. Amit Shetty, CEO of the company, stated, “We successfully leased 6.4 million sq…

CommercialLatest Stories

Villagers Reject Multi-Dwelling Units at Loliem

CANACONA: The Loliem-Polem gram sabha voted unanimously on Sunday against the construction of multi-dwelling units, including residential complexes, commercial blocks, hotels, and other large projects. Residents expressed their concerns following an application from a Mapusa-based real estate company seeking a license to build 36 villas and a swimming pool behind S S Angle higher secondary school at Dapot. In response, the gram sabha urged the panchayat to contact the deputy town planner and district deputy collector to ensure the resolution is implemented. Villagers emphasized the need for the panchayat to enforce their demands and, if necessary, appeal to the highest…

CommercialLatest Stories

WeWork India Leases 200,000 Sq Ft in Pune’s Wakad

MUMBAI: WeWork India Management has secured a lease for over 204,000 sq ft of office space at Phoenix Millennium Tower 3 in Pune’s Wakad area through a long-term agreement. The lease spans five floors—from the 13th to the 17th. The 13th, 14th, and 15th floors are leased for a decade, while the 16th and 17th floors are on a five-year term. The monthly rent is set at ₹73 per sq ft, amounting to a total monthly expenditure of more than ₹1.49 crore. The agreement includes a 12% rental increase after the first three years, followed by a 13.5% rise every…