Category: Latest Stories

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IndustryLatest Stories

Ashiana Housing Q3 FY26 Net Profit at ₹56.65 Crore

NEW DELHI: Ashiana Housing has reported a net consolidated profit after tax of ₹56.65 crore for the quarter ending December 31, 2025, according to a BSE filing. This is a significant increase from the profit after tax of ₹10.85 crore recorded in the same quarter of the previous fiscal year. The company’s net consolidated total income for Q3 FY26 was ₹373.35 crore, compared to ₹139.93 crore in the corresponding quarter last year. As of December 31, 2025, the company’s net worth was ₹847.30 crore, with a debt-equity ratio of 0.38. The current liability ratio stood at 0.88, while the total…

CommercialLatest Stories

Sonu Sood Leases Property to HDFC Bank for ₹11.75 Lakh/Month

NEW DELHI: Sonu Sood has leased a commercial space in Trade Centre BKC, Bandra East, Mumbai, to HDFC Bank at an initial monthly rent of ₹11.75 lakh. The lease is for a duration of nine years, starting at ₹11.75 lakh per month for the first three years, followed by a 15% rent increase after each subsequent three-year period. This information is based on property registration documents accessed through Square Yards via the Inspector General of Registration (IGR) website. The agreement was officially registered in February 2026. The lease includes a security deposit of ₹70.50 lakh, three dedicated parking spaces, and…

InfrastructureLatest Stories

Minister Announces Three New Townships in Himachal Pradesh

Representative AI image SHIMLA: Himachal Pradesh is embarking on significant urban development projects to address the growing housing needs and improve public facilities, stated Town and Country Planning Minister Rajesh Dharmani on Monday. During the board meeting of the Himachal Pradesh Housing and Urban Development Authority (HIMUDA), Dharmani unveiled the approval of initial activities for various key projects, backed by a budget of Rs 5 crore. These initiatives comprise the proposed Him Chandigarh Township at Sheetalpur, Baddi in Solan district, a new township at Morni Hills in Pachhad of Sirmaur district, and a planned urban development at Lunj near Kangra…

CommercialLatest Stories

India’s Flexible Office Space Market Set for Major Growth

NEW DELHI: Publicly listed flexible office space operators are poised to account for nearly half of India’s flexible office market, projected to reach 100 million sq ft by year-end. Currently, four operators have gone public, with at least three more IPOs anticipated in this sector. According to the investors’ presentation from Smartworks, Awfis, WeWork, and Indiqube—all listed companies—these firms collectively manage over 30 million sq ft of operational space. Smartworks, boasting 9.2 million sq ft of operational area as of December 2025, is expected to be the first flexible workspace provider to exceed 10 million sq ft by March 2026,…

InfrastructureLatest Stories

Nagpur’s Phase-III: 55km to Become Metro’s Longest Stretch

Representative AI image NAGPUR: The Nagpur Metro expansion will now include a 25km stretch along the Inner Ring Road, connecting Mankapur Chowk to Rachana Junction (Hingna T-point) as part of Phase 3. Shortly after MahaMetro issued a tender for the Detailed Project Report (DPR) for this phase, it was officially confirmed that this corridor would be a part of the plan. Union Minister Nitin Gadkari also validated its inclusion during a press conference on Monday. This expansion marks Nagpur Metro’s largest undertaking to date, totaling an estimated 54.5 km, as outlined in the Comprehensive Mobility Plan (CMP) approved last July.…

Latest StoriesRegulatory

Accused in Shine City Fraud Case Arrested in Lucknow

LUCKNOW: On Monday, the Economic Offences Wing (EOW) arrested a key suspect in the multi-crore Shine City Infra Project Private Limited fraud case. The suspect, Nekpal Singh, also known as Nikki, was detained by the EOW team in the Krishna Nagar area of Lucknow. According to the EOW, Shine City Infra Project Private Limited allegedly defrauded investors across multiple districts in Uttar Pradesh by promoting low-cost residential plots and other attractive offers. The firm collected significant sums from the public without delivering the promised plots or refunding the investments. After the alleged scheme came to light, the company’s directors and…

CommercialLatest Stories

Turner International Leases 46,000 Sq Ft at WeWork Navi Mumbai

NEW DELHI: Turner International India has secured 46,000 sq ft of managed office space at WeWork Gigaplex Airoli, Navi Mumbai, from WeWork India Management. The center is set to accommodate over 650 professionals. Santosh Martin, Chief Revenue Officer, commented, “The evolution from a 16-seat setup in 2022 to over 650 seats today highlights the increasing demand for customized, scalable workspace solutions that blend efficiency with identity.” “In just two years, we’ve expanded our managed office business to 26,000 desks across 1.7 million sq ft, now representing 21% of total revenue, with an annual run rate exceeding ₹530 crore and a…

Housing FinanceLatest Stories

Areion Group Secures ₹936-Crore Bid for Aviom India Housing

MUMBAI: Areion Group has successfully secured the bid for Aviom India Housing Finance, a mortgage lender embroiled in fraud issues, after secured lenders unanimously favored its resolution proposal over a higher but conditional offer from Unity Small Finance Bank, according to sources familiar with the situation. Areion’s ₹936-crore bid is projected to enable a recovery of around 65% for Aviom’s lenders. Despite Unity Small Finance Bank initially offering the highest bid of ₹977.5 crore during the competitive auction, secured lenders supported Areion Group’s unconditional proposal. The preference was influenced by Unity’s conditional offer, which raised concerns about execution, as confirmed…

Housing FinanceLatest Stories

NHB Advocates for Lower Home Loan Rates; Lenders Delay Cuts

MUMBAI: Sanjay Shukla, the managing director of the National Housing Bank (NHB), recently urged major home financiers to lower prime lending rates in a discussion with key industry players, as reported by RealtyDailyNews. However, mortgage lenders have postponed any rate cuts until their annual internal benchmarks are reassessed in April. “During our call, the NHB chairman stressed the need for the ecosystem to transmit lower rates to borrowers, asserting that the advantages of reduced borrowing costs haven’t reached existing clients,” stated the CEO of a major housing finance company (HFC). “While HFCs are securing funds at significantly lower market rates,…

IndustryLatest Stories

Karnataka Raises Build Limits for Industrial Plots

Sure! Here’s a revised version of the content: BENGALURU: On Monday, the Karnataka government approved a significant increase in the permissible built-up area on its industrial land. This policy change aims to enhance land utilization in KIADB regions and attract further investments. The state has raised the allowable ground coverage for industrial plots from 65% to 75%. “Previously, only 65% of the land could be utilized for construction, leaving 35% dedicated to setbacks and parking. We have revised this to 75%. There was a clear demand from the industry for better land use, and our assessment indicates that the city…