Category: Latest Stories

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IndustryLatest Stories

Canara Bank Seeks Bids for ₹577-Crore Housing Loan Sale

MUMBAI: Canara Bank is seeking offers from financial institutions and asset reconstruction companies (ARCs) to sell its ₹577 crore debt concerning the real estate firm Supreme Housing and Hospitality, with a reserve price set at ₹500 crore through a Swiss challenge auction. The Bangalore-based bank has also filed a petition with the Mumbai NCLT to restart insolvency proceedings against the company after a one-time settlement (OTS) proposal in July did not materialize, according to a knowledgeable source. “This debt auction allows the bank to gauge interest from investors while waiting for guidance from the Mumbai NCLT. The company previously made…

InfrastructureLatest Stories

Delhi Approves Metro Phase V Following Centre’s Approval

NEW DELHI: The Delhi government has made a significant advancement in metro expansion plans by approving Phase V(A) of the Delhi Metro project, which includes a critical corridor connecting to the Central Vista, after receiving the necessary clearance from the Centre. Chief Minister Rekha Gupta announced that the estimated cost of Phase V(A) is Rs 12,014.91 crore, which will bolster public transport infrastructure in the national capital, with the Delhi government contributing Rs 2,940.46 crore towards this cost. The decision was made during a Cabinet meeting led by the Chief Minister, aimed at enhancing and modernizing the public transport system…

CommercialLatest Stories

Indiqube Spaces Reports ₹17.06 Crore Net Loss in Q3 FY26

NEW DELHI: Indiqube Spaces has reported a net loss after tax of ₹17.06 crore for the quarter ending December 31, 2025, according to a filing with the BSE. The company’s total net income for Q3 FY26 reached ₹411.09 crore. Rishi Das, co-founder and CEO, stated, “With a healthy EBITDA margin of 21% in Q3 FY26, we are optimistic about continued stability in our margins and anticipate a strong closing for the financial year in Q4.” The debt-to-equity ratio improved to 0.15 in Q3 FY26, down from 0.80 in Q3 FY25. ROCE increased to 23% in Q3 FY26, compared to 15%…

IndustryLatest Stories

Maharashtra Gaothans Protest SRA Survey Initiative

The Mobai Gaothan Panchayat (MGP), which advocates for the indigenous East Indian community, has vociferously opposed a recent survey notice issued by the Slum Rehabilitation Authority (SRA). They claim this effort seeks to label long-established Gaothans as “slums” and funnel them into redevelopment schemes. MGP reached out to Chief Minister Devendra Fadnavis and Andheri West MLA Ameet Satam, urging them to immediately retract the SRA notices targeting Gaothans. The notices were affixed in regions such as Chakala, Sahar, Bamanwada, Ambivali, and Kalina-Vakola, outlining at least 128 clusters without specifying house numbers. This vagueness has frustrated residents, whose families have inhabited…

IndustryLatest Stories

Haryana Revenue Officers End Strike, Easing Property Buyers’ Woes

CHANDIGARH: In a significant development for property buyers and sellers, tehsildars and naib tehsildars announced the end of their strike on Tuesday after discussions with Sumita Misra, Financial Commissioner (Revenue), at the Haryana Civil Secretariat. Revenue officers will resume their duties starting Wednesday. The strike was in response to recent criminal and administrative actions taken against them by various government and law enforcement bodies over the past two months. The protest also involved patwaris and district revenue officers. With over 11,000 registrations pending in revenue offices, the government had tasked sub-divisional magistrates (SDMs) and district revenue officers (DROs) to step…

Housing FinanceLatest Stories

Carlyle Group to Acquire Controlling Stake in Nido for ₹2,100 Cr

NEW DELHI: Edelweiss Financial Services Ltd and Carlyle Group announced on Tuesday that the US-based investment firm will acquire a strategic majority stake in Nido Home Finance, a fully-owned subsidiary of Edelweiss. The transaction involves investment funds associated with Carlyle Asia Partners (CAP) investing Rs 2,100 crore (approximately USD 230 million). This includes acquiring a 45% stake in Nido from Edelweiss through a secondary purchase and a primary equity capital infusion of Rs 1,500 crore (approximately USD 165 million) into the housing finance firm. Aditya Puri, Senior Advisor to Carlyle in Asia and former CEO and MD of HDFC Bank,…

Latest StoriesResidential

Maharaja of Tehri to Sell 3.2 Acres in Delhi for ₹1,000 Cr

Representative Image NEW DELHI: Another significant bungalow deal of around ₹1,000 crore is on the horizon in the national capital, as Maharaja Manujendra Shah of Tehri Garhwal plans to sell his property on Bhagwan Das Road to a local entrepreneur noted for his substantial footprint in the food and beverage sector, according to sources familiar with the situation. The 3.2-acre bungalow marks the second acquisition for the businessman, who has also secured an agreement to purchase the first official residence of former Prime Minister Jawaharlal Nehru on Motilal Nehru Road in Lutyens’ Bungalow Zone (LBZ) for over ₹1,100 crore. As…

IndustryLatest Stories

Bollywood Star Power Strengthens Dubai-India Real Estate Links

BENGALURU: Dubai’s real estate developers are increasingly leveraging Bollywood celebrity endorsements to promote projects, enhance their outreach to Indian and overseas buyers, and mitigate the impact of rising supply over the coming years. From opulent waterfront residences to affordable housing, partnerships with celebrities have emerged as a pivotal marketing strategy as the Emirate prepares for a considerable number of residential constructions. Recently, several notable developers have engaged top Hindi film actors as brand ambassadors, merging aspirational lifestyles with property marketing. DAMAC Properties, one of Dubai’s largest private developers, has partnered with Alia Bhatt and Ranbir Kapoor to promote its luxury…

Latest StoriesRegulatory

Maharashtra cabinet approves land policy for ‘Third Mumbai’ development

Representative AI image MUMBAI: On Tuesday, the Maharashtra cabinet sanctioned a new land acquisition and allotment policy for the proposed “Third Mumbai” project, located within the impact area of the Mumbai Trans Harbour Link (MTHL), also referred to as Atal Setu. This policy aims to enhance planned urban development and spur investment in the Mumbai Metropolitan Region (MMR). The policy will govern development initiatives led by the New Town Development Authority in the Atal Bihari Vajpayee Shivdi-Nhava Sheva Atal Setu’s influence area and the Mumbai Metropolitan Region Development Authority (MMRDA). The decision is anticipated to provide a structured framework for…

IndustryLatest Stories

Arvind SmartSpaces Q3 FY26 Net Profit Drops 41.79%

NEW DELHI: Arvind SmartSpaces has experienced a significant decline of 41.79% in its net consolidated profit for the quarter ending December 31, 2025, with a profit after tax (PAT) of ₹29.21 crore compared to ₹50.18 crore in the same quarter last year, as noted in a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹170.50 crore, down by 20.87% from ₹215.47 crore reported in the equivalent quarter the previous year. The board of directors has approved the re-designation of Priyansh Kapoor, currently the whole-time director & CEO, as managing director & CEO of the company effective…