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CommercialLatest Stories

Awfis Space Solutions Q2 FY26 Net Profit Falls 58.7%

NEW DELHI: Awfis Space Solutions, a provider of flexible workspace solutions, has reported a 58.7% decline in its net consolidated profit for the quarter ending September 30, 2025. The profit after tax for Q2 FY26 was ₹15.97 crore, down from ₹38.67 crore in the same quarter of the prior fiscal year, according to a BSE filing. The company’s net consolidated total income was ₹392.97 crore in Q2 FY26, reflecting a 30.14% increase from ₹301.95 crore in the year-ago quarter. Amit Ramani, the company’s chairman and managing director, stated, “In H1 FY26, our Operating EBITDA grew 44% year-on-year, revenue expanded by…

InfrastructureLatest Stories

Crackdown on Illegal Commercial Structures in Ludhiana

LUDHIANA: In a move against unauthorized constructions, the municipal corporation (MC) sealed three illegal shops and a building in Zone B on Monday. Additionally, an under-construction commercial building near Mohar Singh Nagar was demolished. The illegal shops were located in Nirankari Mohalla, while the building was in Narinder Nagar. This action follows directives from MC Commissioner Aaditya Dachalwal. Regarding the action in Mohar Singh Nagar, officials noted that the owner was unlawfully converting a residential building into a commercial space. The unauthorized section of the building was demolished. The civic body urged residents to initiate construction only after securing approval…

IndustryLatest Stories

Ludhiana Civic Body Set to Take Over GLADA Colonies and Sites

LUDHIANA: The Ludhiana municipal corporation (MC) is currently pursuing plans to take over colonies and sites from the Greater Ludhiana Area Development Authority (Glada), even as efforts to acquire areas from the Ludhiana Improvement Trust (LIT) continue. Glada has been attempting to complete the takeover for over ten years but has faced numerous challenges. MC officials have stated they are holding discussions and will soon make a decision at the house level. The Greater Ludhiana Area Development Authority has proposed to transfer several schemes and areas, including Sector 32A, Sanjay Gandhi Colony (25 acres), sectors 33 and 38, Chandigarh Road…

InfrastructureLatest Stories

Haryana CM Urges Action on Civic Issues in Gurugram

File Photo CHANDIGARH: Haryana Chief Minister Nayab Singh Saini declared Gurugram as the fastest-growing city in the state, emphasizing that any negligence in civic amenities management will not be tolerated. He instructed officials to quickly compile and present a comprehensive report on the current status of water supply, sewerage systems, and sewage treatment plants (STPs) in the city. Saini asserted that providing high-quality essential services to every Gurugram resident is a top government priority. The CM held a meeting of the District Public Relations and Grievance Redressal Committee in Gurugram on Monday, attended by local MLAs Bimla Chaudhary, Tejpal Tanwar,…

Latest StoriesRegulatory

Rajasthan HC Offers Govt Final Chance on 86 Illegal Colonies

JAIPUR: The Rajasthan high court expressed its strong dissatisfaction with the state government’s failure to respond regarding the case involving 86 illegally developed colonies on land belonging to the Rajasthan Housing Board (RHB). On Monday, the court granted the government a final chance to submit its response by December 9. During the hearing of a public interest litigation (PIL) brought forth by the civil society group Public Against Corruption, a division bench led by Acting Chief Justice SP Sharma mandated the government to provide a comprehensive report on actions taken in line with previous court orders. The petitioner’s lawyer, Poonam…

IndustryLatest Stories

Register Sale Deeds at Any Taluka Office Soon: Goa CM

PANAJI: Citizens will soon have the option to register their sale deeds at any of the 12 sub-registrar offices across the state. This move, as announced by Chief Minister Pramod Sawant, aims to eliminate the restriction of registering land only in the region where it is located. Sawant further stated that the processes for marriage and land registrations will be streamlined in the next 10 days based on directives given to officials. “Today, I convened a meeting with registrars, sub-registrars, and directors as law minister. We discussed various issues related to the National Informatics Centre (NIC) and the Info Tech…

Latest StoriesResidential

Hiranandani Expands into Senior Living with 1M Sq Ft in Chennai

Representative Image NEW DELHI: Hiranandani Communities, part of the Niranjan Hiranandani Group, has partnered with GTB Group to venture into the senior living sector. The Elements project, covering 4.5 acres, has a development potential of one million sq ft and will be situated in Hiranandani Parks, Oragadam—a planned township in Chennai. The estimated total project value is ₹300 crore and will be executed in two phases. It is set to include 400 residences, with prices starting from ₹60 lakh. Niranjan Hiranandani, founder and chairman, commented, “The Hiranandani Parks, Oragadam township aims for an ambitious topline revenue of ₹4,000 crore, as…

Latest StoriesRera

Odisha REAT Fines Developer for Unfair Trade Practices

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) recently issued a groundbreaking ruling, referencing Shakespeare’s notorious moneylender Shylock from *The Merchant of Venice*, and imposed a fine of ₹10 lakh on a real estate developer. The tribunal was reviewing an appeal from the promoter of a large real estate project situated in Cuttack alongside NH-16. The tribunal criticized the developer’s actions as “dubious,” accusing them of “unfair trade practices” against the buyer. The appeal was made by the project promoter contesting an earlier ruling by the Odisha Real Estate Regulatory Authority (ORERA). The complainant had paid over ₹3.19 crore for…

Latest StoriesResidential

Maharashtra CM to distribute 423 flats to police families

MUMBAI: Following the key handover at Worli BDD chawl flats, CM Devendra Fadnavis will distribute keys to 864 flats at the Naigaum BDD chawls in Dadar. This ceremony will take place at Shanmukhananda Hall on Wednesday, where five wings consisting of 22 storeys each have been completed. Out of the 864 flats, 423 will be allocated to police families who have lived here as tenants for generations. In total, there are 2,250 tenements owned by the Mumbai police commissioner, soon to be granted as ownership to the police families who have long resided there. Each police family will need to…

CommercialLatest Stories

Germany’s Bernhard Schulte Acquires Mumbai Office Space

Global maritime giant Bernhard Schulte Shipmanagement (BSM) has acquired a custom-built six-floor office space in the Kalpataru Virtus project, located at the LBS-JVLR junction in Mumbai’s Vikhroli suburb, for more than Rs 304 crore, according to sources familiar with the matter. This acquisition, finalized on Thursday, represents one of the largest office space purchases by an international shipping company in India. “This new office will become BSM’s headquarters in India, bringing together its ship management, crewing, technical, and digital operations, while also allowing room for growth,” stated one insider. The company has acquired approximately 1 lakh sq ft of office…