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IndustryLatest Stories

Navi Mumbai: ₹2,120 Cr Bid for 10-Acre Kharghar Plot

Representative image NAVI MUMBAI: A recent Cidco tender for a 10-acre (42,000 square meter) plot in Kharghar’s Sector 23 attracted a record bid of Rs 2,120 crore, approximately Rs 5 lakh per sq m, from Aakar Developers. Aakar group is required to pay 50% of the total amount to Cidco within the next three months. Real estate analysts believe this marks the largest land transaction since the previous sale at Nerul-Seawoods for Rs 1,800 crore. Local developer Manohar Shroff noted, “Kharghar has consistently been a promising area and has grown more appealing due to the Navi Mumbai airport, international universities,…

Latest StoriesRegulatory

SC Sets Dec 5 Deadline for Jaypee Infratech Claims

NOIDA: The Supreme Court has given Jaypee Infratech homebuyers a deadline of December 5 to either request refunds or apply for flat allotments. This directive was issued on November 3 by Justices Sanjay Kumar and Alok Aradhe, instructing all outstanding claimants to reach out to Suraksha Realty Limited, the current overseer of the delayed Jaypee projects, with no additional extensions expected. The court also mandated Suraksha Realty to make a public announcement regarding this cut-off date, which it did by Thursday. “Many homebuyers are still presenting claims for refunds or flats. Suraksha Realty Limited is prepared to accept refund claims…

IndustryLatest Stories

HCC Q2 FY26 Net Profit Drops 25% to ₹47.78 Crore

NEW DELHI: Hindustan Construction Company (HCC) announced a consolidated net profit of Rs 47.78 crore for the September quarter, reflecting a decline of 25.26%. In the same period last year, the company reported a profit of Rs 63.93 crore, according to a regulatory filing. During the July-September timeframe, its consolidated revenue decreased to Rs 983.25 crore from Rs 1,432.41 crore a year prior. HCC’s consolidated expenses also fell, coming in at Rs 938.72 crore compared to Rs 1,350.09 crore last year. The company has successfully secured three new orders, including two packages for Patna Metro and an expansion project for…

CommercialLatest Stories

Smartworks Narrows Q2 FY26 Loss to ₹3 Crore

NEW DELHI: Smartworks Coworking Spaces Ltd has successfully reduced its consolidated net loss to Rs 3.13 crore in the second quarter of the fiscal year, primarily due to increased expenses. The company reported a net loss of Rs 15.82 crore during the same quarter last year. Total income rose by 22% to Rs 441.06 crore in the July-September quarter, compared to Rs 360.84 crore during the equivalent period last year, as stated in a recent regulatory filing. Neetish Sarda, Founder & Managing Director of Smartworks, commented, “Our Q2 outcomes highlight the robustness and scalability of our managed campus model. With…

IndustryLatest Stories

Embassy Developments Reports ₹152.61 Crore Loss in Q2 FY26

NEW DELHI: Embassy Developments (EDL) disclosed a net consolidated loss after tax of ₹152.61 crore for the quarter ending September 30, 2025, as per their BSE filing. Their net consolidated income for Q2 FY26 was ₹536.90 crore. For the quarter and the half-year, the company secured ₹44.99 crore and ₹1,205.64 crore respectively in share warrant money, with shares allocated accordingly. Furthermore, during this quarter, they received an additional ₹7.10 crore in share warrant money, pending share allocation. “All ongoing projects are on track, with the successful completion of two legacy developments in Vizag and Thane. This progress will soon reflect…

Housing FinanceLatest Stories

Bajaj Housing Finance Q2 FY26 Net Profit Rises 17.84%

NEW DELHI: Bajaj Housing Finance has announced a 17.84% increase in net profit for the quarter ending September 30, 2025. The profit after tax reached ₹642.96 crore for Q2 FY26, compared to ₹545.60 crore during the same quarter last year, according to a filing with the BSE. The company’s net total income for Q2 FY26 was ₹2,755 crore, marking a 14.30% growth from ₹2,410.24 crore reported in the previous year’s corresponding quarter. As of September 30, 2025, the net worth stood at ₹21,169.67 crore, with a debt-equity ratio of 4.44. Total debts to total assets was 0.8, net profit margin…

IndustryLatest Stories

Godrej Properties Q2 FY26 Net Profit Rises 20.73%

NEW DELHI: Godrej Properties (GPL) has recorded a 20.73% increase in its net consolidated profit for the quarter ending September 30, 2025. The profit after tax reached ₹402.99 crore in Q2 FY26, up from ₹333.79 crore in the same quarter last year, as stated in a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹1,950.05 crore, reflecting a growth of 44.82% compared to ₹1,346.54 crore in the previous fiscal year’s quarter. Pirojsha Godrej, executive chairperson, remarked, “The ₹6,000 crore raised through a QIP last year, alongside our operational cash flow, will empower us to continue investing…

IndustryLatest Stories

Ajmera Realty Q2 FY26 Net Profit Falls 14.09%

NEW DELHI: Ajmera Realty & Infra India reported a 14.09% decline in net consolidated profit for the quarter ending September 30, 2025. Profit after tax and non-controlling interest was ₹30.37 crore in Q2 FY26, down from ₹35.35 crore in the same quarter of the previous fiscal year, according to a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹221.01 crore, reflecting an 8.30% increase from ₹204.08 crore in the corresponding quarter last year. In the reported quarter, sales value rose 48% year-on-year to ₹828 crore, sales volume increased 20% year-on-year to 2,93,016 sq ft, and collections…

Latest StoriesRegulatory

₹100 Crore Housing Fraud Case Against Mumbai Developer

MUMBAI: A case has been filed against a real estate developer and others for allegedly defrauding homebuyers of Rs 100 crore with false promises of flats in Mumbai’s Wadala area. Funds were allegedly diverted for personal use, according to officials on Thursday. The police’s Economic Offences Wing (EOW) initiated the case on Wednesday following preliminary inquiries sparked by a complaint from 62-year-old Chartered Accountant Anil Dron, a Kandivali resident. The accused—developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions, and others—are alleged to have collected Rs 100 crore from 102 individuals since 2018 under the pretense of…

IndustryLatest Stories

Officials Regain Key Land in Malavalli After HC Ruling

Sure! Here’s a rewritten version of that content: MANDYA: In a significant development, officials took possession of 2.3 acres of valuable land in the heart of Malavalli town on Tuesday. This prime property, valued at over Rs 50 crore, was reclaimed by the City Municipal Council (CMC) following a ruling from the High Court. Lokesh, the tahsildar of Malavalli taluk, stated, “According to a court order dated October 10, this land was previously under the control of the family of former Union minister MV Chandrashekara Murthy. The High Court’s verdict granted ownership to the CMC. The operation commenced at 7:30…