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IndustryLatest Stories

Ashiana Housing Q2 FY26 Net Profit at ₹27.54 Crore

NEW DELHI: Ashiana Housing has reported a consolidated net profit of ₹27.54 crore for the quarter ended September 30, 2025, rebounding from a loss of ₹7.55 crore recorded in the same period last year, according to the company’s filing with BSE. The company’s consolidated total income reached ₹176.18 crore in Q2 FY26, marking a remarkable increase of 195.95% from ₹59.53 crore in the corresponding quarter of the previous year. As of September 30, 2025, Ashiana’s net worth was recorded at ₹790.42 crore, with a debt-equity ratio of 0.42, and a current liability ratio of 0.87. Additionally, total debts to total…

IndustryLatest Stories

Shriram Properties Q2 FY26 Net Profit at ₹8.57 Crore

NEW DELHI: Shriram Properties (SPL) has announced a net consolidated profit after tax of ₹8.57 crore for the quarter ending September 30, 2025, compared to a loss of ₹79 lakh in the same quarter last year, as per their BSE filing. The company’s total consolidated income was ₹229.01 crore in Q2 FY26, marking a 47.65% increase from ₹155.10 crore during the corresponding quarter last year. Gopalakrishnan J, the executive director & CEO, stated, “Q2 has shown encouraging operational performance, with robust sequential and year-on-year growth. Although financial performance was slightly muted, we anticipate a significant rebound in H2 FY26 as…

InfrastructureLatest Stories

Ahmedabad’s Demolition Drive Targets Illegal Builds in Vatva, Jamalpur

AHMEDABAD: The Town Development Officer (TDO) of the Ahmedabad Municipal Corporation (AMC) executed demolition drives in the Vatva and Jamalpur regions on Tuesday, focusing on illegal constructions and encroachments on public and civic lands. In Vatva, the AMC dismantled 14 illegal structures located around Bhoja Talav, situated along the Narol-Aslali Highway. Officials reported that approximately 12,540 sq m of lake land was reclaimed from encroachment. Additionally, in Lambha ward, two unused toilet blocks on Gamtal Road in Saijpur-Gopalpur were demolished, along with five compound walls. In a separate initiative, officials in the Central Zone’s Jamalpur area demolished illegal construction on…

IndustryLatest Stories

Blackstone to Acquire Majority Stake in Ritz-Carlton Bengaluru

BENGALURU | MUMBAI: US investment firm Blackstone is set to acquire up to a 55% stake in the Ritz-Carlton Bengaluru from Nitesh Land. Sources indicate that Blackstone’s stake acquisition of 51-55% could cost approximately ₹600-700 crore, valuing the 277-room luxury hotel between ₹1,200 and ₹1,400 crore. The hotel, managed under the Ritz-Carlton brand by Marriott International, generated earnings before interest, taxes, depreciation, and amortisation of ₹105 crore for FY25. “Blackstone will purchase the stake in Nitesh Residency Hotel, the owning entity. The agreement is signed and expected to finalize within this quarter,” shared an anonymous source. Post-transaction, Nitesh Shetty, founder…

IndustryLatest Stories

Marathon Nextgen Realty Q2 FY26 Net Profit Grows 34.54%

NEW DELHI: Marathon Nextgen Realty (MNRL) has announced a 34.54% increase in its net consolidated profit for the quarter ending September 30, 2025. The profit after tax for Q2 FY26 reached ₹66.53 crore, up from ₹49.45 crore in the same quarter of the previous fiscal year, as stated in a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹155.06 crore, marking a 6.44% decline from ₹165.73 crore in the comparable quarter last year. Chetan Shah, the company’s chairman and managing director, stated, “We’ve had a robust quarter with a PAT of ₹67 crore, reflecting a 35%…

IndustryLatest Stories

Valuers to Reassess Prices of Unsold Mohali Sites

Representative AI image MOHALI: The Greater Mohali Area Development Authority (Gmada) has begun reviewing the reserve prices of unsold residential, commercial, institutional, and industrial plots through independent valuers. Bids are invited from valuers associated with nationalized banks or the I-T department to conduct this valuation. According to officials, these valuations will pertain to sites that received no bids in two or more consecutive e-auctions, with an objective of establishing more realistic reserve prices aligned with current market conditions. Gmada will appoint three independent valuers per site to ensure a transparent and fair assessment. The selected valuers must not be blacklisted…

InfrastructureLatest Stories

Centre Implements GRAP Stage-III Restrictions in Delhi-NCR

NEW DELHI: On Tuesday, the Centre enacted stricter anti-pollution measures as part of Stage III of the Graded Response Action Plan (GRAP) in Delhi-NCR after the city’s air quality reached the ‘severe’ category. The decision followed a sharp increase in Delhi’s average Air Quality Index (AQI), which climbed from 362 on Monday to 425 on Tuesday morning. This escalation was attributed to calm winds, stable atmospheric conditions, and unfavorable weather that facilitated the accumulation of pollutants near the ground, according to the Commission for Air Quality Management (CAQM). Stage III measures include a ban on non-essential construction work and the…

Latest StoriesRegulatory

Bombay HC Cancels NOC for Filmmaker to Merge Flats in Oshiwara

MUMBAI: The Bombay High Court has annulled an order from the deputy registrar of cooperative societies for the K-West ward, which had instructed a housing society in Oshiwara, Andheri West, to approve film producer and director Vipul Shah’s request to merge four flats across two floors. Justice Amit Borkar stated on Monday that the decision exceeded the authority outlined in the Maharashtra Co-operative Societies Act, 1960, asserting that such power cannot be exercised. The Oberoi Springs CHSL contested the deputy registrar’s ruling under sub-clause 3 of Section 154B-27, which pertains to the society’s obligation to act and the registrar’s enforcement…

CommercialLatest Stories

OpenAI Leases 50-Seater Office with CorporatEdge in Delhi

US-based OpenAI has selected Delhi for its inaugural office in India, leasing a 50-seater space from premium flex workspace provider CorporatEdge, according to two sources familiar with the matter. This August, OpenAI CEO Sam Altman announced plans to establish an office in India. The sources indicated that the company specifically sought a location in Delhi, ruling out the business hubs of Gurugram and Noida. “This deal underscores the significance of AI firms as substantial players in commercial real estate moving forward,” one source remarked. “These companies tend to favor managed office spaces over traditional office setups.” OpenAI did not respond…

Latest StoriesRegulatory

Bombay HC Bars Developer from Adding to Tardeo Twin Towers

MUMBAI: In a significant legal dispute, the Bombay High Court issued an interim ruling on Tuesday, preventing developer S D Corporation from making any changes to the 60-storey twin towers known as ‘The Imperial’ in Tardeo. A group of 48 residents from Towers A and B took legal action against the developer for attempting to construct additional buildings and flats, which they argued violated a 2009 building plan previously presented to them. On Tuesday, the High Court prohibited any alterations without the residents’ consent. The court expressed that the developer’s intention to construct further, utilizing a substantial sale component of…