Category: Latest Stories

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Housing FinanceLatest Stories

PNB Housing Finance Q1 FY26 Net Profit Up 23% to ₹534 Crore

NEW DELHI: PNB Housing Finance announced a 23% increase in its net profit for the first quarter ending June 2025, reaching Rs 534 crore, compared to Rs 433 crore in the same period last year. The company’s total income rose to Rs 2,082 crore from Rs 1,832 crore during the corresponding quarter of the previous financial year, as stated in a regulatory filing. Interest income for the quarter increased to Rs 1,980 crore, up from Rs 1,739 crore a year ago. The net interest income also saw a 17% rise, totaling Rs 760 crore by the end of Q1 2025,…

IndustryLatest Stories

Lodha Developers secures ₹350 crore through NCD private placement

Representative image created by AI NEW DELHI: Lodha Developers (previously Macrotech Developers) has successfully raised ₹350 crore through a private placement of 35,000 rated, listed, senior, secured, redeemable, taxable, and transferable non-convertible debentures (NCDs), according to a regulatory filing made with the stock exchanges on Monday. The debentures, having a face value of ₹1 lakh each, are now listed on the Wholesale Debt Market segment of BSE. The issuance received approval from the company’s executive committee on July 21, 2025, with allotment and deemed date of allotment occurring on the same day. The NCDs feature a floating interest rate structure…

Latest StoriesRegulatory

ED Arrests Two Directors of Ramprastha Group

NEW DELHI: The Enforcement Directorate arrested Sandeep Yadav and Arvind Walia, promoters of Haryana’s Ramprastha Group, on Monday as part of a money laundering probe linked to an alleged ₹1,100 crore fraud involving homebuyers, according to official sources. The arrests followed early morning raids at three locations in Delhi and Gurugram, including those of the directors, conducted by the federal agency’s Gurugram zonal office. The duo serves as directors and majority shareholders of Ramprastha Promoters and Developers Pvt. Ltd. (RPDPL). They have been taken into custody under the Prevention of Money Laundering Act (PMLA). Attempts to reach the company or…

IndustryLatest Stories

Oberoi Realty Q1 FY26 Profit Dips 28% to ₹421 Crore

NEW DELHI: On Monday, Oberoi Realty Ltd announced a 28% decrease in consolidated net profit, reporting Rs 421.25 crore for the quarter ending in June, compared to Rs 584.51 crore from the same period last year. Total income dropped to Rs 1,073.98 crore in the first quarter of the current fiscal year, down from Rs 1,441.95 crore in the corresponding quarter of the previous year. The board declared an interim dividend for FY25-26 of Rs 2 per equity share, equating to 20% of the Rs 10 face value. Operationally, the company sold properties worth Rs 1,639 crore during the April-June…

Latest StoriesResidential

Gujarat Waives ₹200 Fee for Ownership Certificates in SVAMITVA

AHMEDABAD: The Gujarat government has announced the waiver of the Rs 200 fee for ownership certificates under the SVAMITVA scheme, alleviating the financial strain on rural property owners, officials confirmed on Monday. Property owners in rural Gujarat can now obtain their “sanad” or ownership certificate at no cost under the SVAMITVA scheme. The SVAMITVA Yojana, initiated by Prime Minister Narendra Modi in 2021, aims to provide property cards to rural landholders nationwide. Utilizing drone technology, the ‘Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA) Scheme’ surveys properties in populated rural regions, issuing property cards to…

Latest StoriesRegulatory

Greater Noida: Builders’ ₹4,000 Cr Dues Amid Legal Issues

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) is currently grappling with unpaid dues totaling Rs 4,081 crore from 21 significant real estate projects. Legal proceedings at various levels—from the National Company Law Tribunal (NCLT) to the Supreme Court—have created obstacles for the Authority in recovering these amounts. A report from GNIDA indicates that each project owes over Rs 100 crore, with Supertech Ltd at the forefront as the largest defaulter. The company has outstanding payments of Rs 903 crore, attributed to three projects—Rs 312 crore for one in Sector 1 and Rs 590 crore across two in Sector 16B.…

IndustryLatest Stories

Brigade Group buys 20.19 acres in Bengaluru for ₹588.33 crore

Representative image created by AI NEW DELHI: Brigade Group has acquired a 20.19-acre land parcel located in the Whitefield–Hoskote corridor of Bengaluru. This acquisition was finalized for ₹588.33 crore through Ananthay Properties, a subsidiary of Brigade Enterprises. The site is poised for mixed-use development, with a gross development value (GDV) estimated at ₹5,200 crore and a potential development area of 4.2 million sq ft. Recently, BuzzWorks, the managed and flexible offices division of Brigade Group, leased over 50,000 sq ft at Mindspace Business Park in HITEC City, Hyderabad. The center can accommodate 1,000 seats. Published On Jul 21, 2025 at…

CommercialLatest Stories

Subhash Ghai Leases Mumbai Property for ₹3.38 Lakh/Month

File Photo NEW DELHI: Subash Ghai, along with Crest Ventures and Mukta Arts, has leased a commercial property in Andheri West, Mumbai starting at a monthly rent of ₹3.38 lakh. This commercial space, known as Crest Mukta, spans 7,500 sq ft (697 sq meters). The rental agreement, recorded with a stamp duty of ₹57,500 and registration fees of ₹1,000, involves a security deposit of ₹24.66 lakh, as per documents from the Inspector General of Registration (IGR) reviewed by Square Yards. The contract was officially registered in July 2025. The lease is set for a duration of 60 months (five years),…

Latest StoriesRegulatory

Mysuru Proposes Upgrade to Grade 1 City Corporation Status

MYSURU: Following the state’s decision to not pursue the establishment of the Greater Mysuru City Corporation due to insufficient population, the Mysuru City Corporation (MCC) has submitted a new proposal to the government requesting an upgrade to grade 1 MCC. The aim of the proposal is to elevate MCC to a grade 1 city corporation similar to the Hubballi-Dharwad City Corporation. This would involve merging the existing City Municipal Council and town panchayats located on the city’s periphery. The state government is expected to endorse the proposal. A proposal was submitted to the state urban development department following directives from…

InfrastructureLatest Stories

Chandigarh Unveils New Urban Plan After Slum Clearances

CHANDIGARH: A significant transformation is unfolding in the heart of India’s most carefully planned city. Over the last six months, almost 50 acres of valuable government land—previously encroached upon by slums, unauthorized colonies, and informal markets—has been reclaimed by the city administration through a vigorous anti-encroachment initiative. This area, once a tangle of tin roofs and narrow paths, is set to be redeveloped with modern infrastructure and various long-awaited civic projects. The shift in the cityscape is evident, starting with the demolition of Sanjay Colony in April and culminating in the recent razing of Adarsh Colony—each bulldozer pushing the city…