Category: Latest Stories

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IndustryLatest Stories

DLF to invest ₹23,500 crore in ongoing housing projects

NEW DELHI: DLF Ltd, India’s leading real estate firm, plans to invest ₹23,500 crore to finalize its ongoing residential projects in Delhi-NCR and Mumbai. As outlined in an investor presentation, the total estimated cost to complete these launched projects is ₹23,500 crore. To finance the pending construction, DLF has reported a cash reserve of ₹10,429 crore, with ₹7,782 crore held in an escrow account regulated by the Real Estate Regulatory Authority (RERA). Furthermore, the company holds receivables totaling ₹37,220 crore from customers for residential properties sold. DLF’s Chief Financial Officer (CFO) recently stated in a conference call that the company…

IndustryLatest Stories

Kolte-Patil Developers’ Subsidiaries Exit Four Entities

NEW DELHI: Kolte-Patil Developers has initiated multiple stake sales and exited from associate entities through its subsidiaries as part of a portfolio reorganization. In a stock exchange filing dated August 7, 2025, the Pune-based developer announced that Kolte-Patil Lifespaces, a wholly-owned subsidiary, has exited its partnership with Amco Landmarks Realty, where it held a 36% stake. This exit was formalized through a deed of retirement on the same day, completed for ₹4 crore. Amco reported other income of ₹56 lakh and a net worth of ₹2.07 crore in FY25. Moreover, on August 6, 2025, the parent company and its subsidiaries…

IndustryLatest Stories

Indian REITs Surpass ₹1 Lakh Crore Market Capitalization

NEW DELHI: As of July 30, 2025, the total market capitalization of all four publicly listed Real Estate Investment Trusts (REITs) in India has surpassed ₹1 lakh crore. The four REITs are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Alok Aggarwal, MD & CEO of Brookfield India Real Estate Trust and chairman of the Indian REITs Association, stated, “This fiscal year has started strongly, fueled by robust leasing activity, high occupancy rates, and continued growth in sector distributions.” According to Q4 FY25 data, India’s REIT market oversees gross assets under…

CommercialLatest Stories

DRA & Balajadia Launch $100M Platform for Commercial Development

NEW DELHI: Chennai-based DRA Group has signed a memorandum of understanding (MoU) with the Philippines’ Balajadia Family office to establish a special purpose vehicle (SPV) platform. This 50:50 joint venture aims to develop one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru during the first phase, with an estimated investment of $100 million. Ranjeeth Rathod, managing director of DRA, stated, “This collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth.” Lloyd Balajadia expressed enthusiasm, saying, “We look forward to creating landmark developments in India and exploring future collaborations…

Latest StoriesRegulatory

Vijayawada’s vacant land tax committee targets ₹870 crore recovery

VIJAYAWADA: To improve tax collection revenue, the NTR district administration has established a Vacant Land Tax Committee (VLTC) tasked with recovering pending vacant land tax dues from taxpayers within the Vijayawada Municipal Corporation (VMC) limits. The VLTC consists of personnel from both the VMC’s revenue department and the NTR district administration, alongside town planning representatives and staff from the stamps and registration department. Despite a Rs 237 crore demand for vacant land tax, only Rs 19 crore—8.18% of the total—was collected in the previous financial year (2024-25). There are approximately 15,000 vacant land tax assessments within the 64 divisions across…

IndustryLatest Stories

BNW Developments Aims for ₹20,000 Crore in Projects Next Year

UAE-based BNW Developments, co-founded by Ankur Aggarwal and Vivek Anand Oberoi, aims to launch projects valued at ₹20,000 crore next year. The firm has already initiated projects totaling ₹10,000 crore and manages a portfolio of 30 projects. It seeks to introduce 10 to 15 additional projects by the next year. “We are acquiring ready-to-move-in properties in Dubai and refurbishing them for resale. There is a noticeable demand-supply gap in the region, making these projects vital,” stated Ankur Aggarwal, Chairman and Founder of BNW Developments. Recently, the company partnered with FashionTV to develop a branded residential project on Al Marjan Island…

IndustryLatest Stories

IFC Invests $150M in HDFC Capital’s H-DREAM Fund

Representative image created by AI NEW DELHI: The International Finance Corporation (IFC) has pledged up to $150 million as a leading equity investor in the H-DREAM Fund, a private credit initiative worth $1 billion aimed at advancing the development of sustainable, affordable, and mid-income housing in urban India. The H-DREAM Fund is managed by HDFC Capital Advisors, the private equity division of HDFC Group and a subsidiary of HDFC Bank. With an initial capital of $500 million and an additional $500 million green shoe option, H-DREAM’s goal is to attract long-term investments from both global and domestic institutional investors. The…

InfrastructureLatest Stories

Ahmedabad Road Projects Will Impact 8,767 Properties

AHMEDABAD: During its meeting on Wednesday, the AMC’s town planning committee revealed that 8,767 properties will be affected by over 200 road widening and opening initiatives. The opening of 103 roads spanning five zones will impact 4,543 properties. Work on these roads is set to start soon, and alternative arrangements will be made for residents affected, provided they can show proof of residency from before 2010. Road widths are assigned when the AMC creates town planning schemes. Increased traffic can lead to the widening of existing roads, pending state government approval. Proposals for road widening are submitted every 10 years,…

IndustryLatest Stories

NBCC India’s Q1 FY26 Net Profit Climbs 25.97%

NEW DELHI: NBCC (India) reported a 25.97% increase in net consolidated profit for the quarter ending June 30, 2025, with a profit after tax of ₹135.03 crore in Q1 FY26, up from ₹107.19 crore during the same quarter last year, as per their BSE filing. The company’s net consolidated total income for Q1 FY26 reached ₹2,465.48 crore, marking a 12.26% rise from ₹2,196.20 crore in the equivalent quarter of the previous year. The board declared a first interim dividend of ₹0.21 per share (face value of ₹1) for the financial year 2025-26. Published on Aug 8, 2025, at 09:29 AM…

IndustryLatest Stories

Meghalaya Cabinet Endorses Reforms in Building By-Laws

SHILLONG: In a bid to enhance the ease of doing business, the Meghalaya Cabinet approved amendments to the building bylaws 2025 on Thursday. This will initiate a streamlined online building permission system effective from August 11. The Cabinet also endorsed significant reforms to the Meghalaya Civil Services (MCS) examination format and delegated new financial powers to the District Council Affairs (DCA) department. “Under the updated bylaws, all building permit applications must be submitted online,” announced Chief Minister Conrad K. Sangma, who led the meeting. He added, “For low-risk buildings—both residential and commercial—with a built-up area ranging from 2,500 to 3,000…