Category: Latest Stories

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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…

IndustryLatest Stories

Embassy Developments Q3 FY26 Loss Widens to ₹234 Crore

NEW DELHI: Realty firm Embassy Developments Ltd reported a consolidated net loss of ₹233.71 crore for the quarter ending in December. This contrasts with a net loss of ₹26.54 crore during the same period last year. Total income decreased to ₹264.01 crore in the third quarter of this fiscal year, down from ₹329.13 crore in the corresponding quarter of the previous year, as stated in a regulatory filing. Embassy Developments Ltd, previously known as Indiabulls Real Estate Ltd, is a prominent real estate developer in India, focusing on residential and commercial projects across Bengaluru, Mumbai Metropolitan Region (MMR), National Capital…

Latest StoriesRegulatory

Mumbai civic body issues attachment notices for tax defaults

MUMBAI: The BMC has issued notices for property attachment to some of the largest property tax defaulters in Mumbai. These warnings indicate that assets may be seized and auctioned if outstanding payments are not made immediately. Notably, Raghuvanshi Mills Limited from G South ward is among the top defaulters, with arrears exceeding Rs 140 crore. Other significant defaulters include Rajhans Associates, Ashapadara Developers, Sumer Buildcorp Pvt. Ltd., DBS Realty, SD Corporation, and Galaxy Corporation, each with dues in the tens of crores, according to the civic agency. As stated by the BMC, notices have been served under Section 203 of…

IndustryLatest Stories

Sri Lotus Realty’s Q3 FY26 Profit Soars 37% to ₹70 Crore

NEW DELHI: Sri Lotus Developers & Realty Ltd announced a 37% increase in consolidated net profit, reaching Rs 70.22 crore for the December quarter, compared to Rs 51.35 crore in the same period last year. The company’s total income surged to Rs 239.78 crore in the third quarter of this fiscal year, up from Rs 123.59 crore in the corresponding quarter of the previous year, as reported in a regulatory filing. Founded in 2015 and based in Mumbai, Sri Lotus Developers & Realty has successfully completed four projects totaling over 4.2 lakh sq ft of carpet area. They currently have…

Latest StoriesRegulatory

NCLT Approves Hotel Horizon Resolution, NCLAT Halts Equity Creation

Here’s a rewritten version of the provided content: The National Company Law Tribunal has sanctioned Hotel Horizon’s acquisition by a consortium consisting of Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings. The company has acknowledged liabilities amounting to ₹1,293 crore, while the successful bidder’s proposal entails a payment of ₹919 crore, leading to approximately 74% recovery for creditors of the financially strained firm. Prior to the tribunal’s sanction, the resolution plan had received unanimous approval from the company’s secured creditors. Hotel Horizon’s main asset is a coveted 1.85-acre land parcel located in Mumbai’s upscale Juhu area, with…

IndustryLatest Stories

Shriram Properties Acquires Shrivision Upscale Spaces

NEW DELHI: Shriram Properties has announced the acquisition of 100% equity shares of Shrivision Upscale Spaces, as stated in a regulatory filing. This acquisition was finalized on February 9, 2026, for a cash consideration of ₹10 per share (at par). The target company has a paid-up share capital of ₹1 lakh and reported no turnover as of March 31, 2025. The company noted that this acquisition is strategic and intended for business purposes. It clarified that the transaction does not qualify as a related party transaction, emphasizing that no promoter or promoter group entities hold any interest in the acquired…

IndustryLatest Stories

Confident Group Vows Project Completion After Chairman’s Death

File Photo KOCHI: Following the alleged suicide of its chairman in Bengaluru last week, Confident Group reaffirmed on Monday that it is a zero-debt, zero-investor company. The firm reassured customers that all ongoing projects will be completed as scheduled. Confident Group’s MD, T A Joseph, clarified that a recent Income Tax audit at their Bengaluru office was routine and that IT officials had not engaged in “extreme harassment” during the inspection. His comments come in light of the controversy surrounding the alleged suicide of chairman C J Roy during the IT inspection on January 30. Joseph emphasized that IT officials…