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IndustryLatest Stories

Mahindra Lifespaces Q1 FY26 Net Profit at ₹51.26 Crore

NEW DELHI: Mahindra Lifespace Developers (MLDL), part of the Mahindra Group focused on real estate and infrastructure, reported a net consolidated profit after tax of ₹51.26 crore for the quarter ending June 30, 2025. This is a significant increase from the ₹12.74 crore profit recorded in the same quarter last year, according to a filing with the BSE. For Q1 FY26, the company’s net consolidated total income was ₹40.61 crore, reflecting an 80.25% drop from ₹206.70 crore compared to the previous year’s quarter. Amit Kumar Sinha, managing director & CEO, stated, “We started the year on a strong note, successfully…

IndustryLatest Stories

Arkade Developers Q1 FY26 Net Profit Drops 4.83%

NEW DELHI: Arkade Developers has reported a net consolidated profit decline of 4.83% for the quarter ending June 30, 2025. The company’s profit after tax was ₹28.75 crore in Q1 FY26, down from ₹30.21 crore in the same quarter last year, according to a BSE filing. The net consolidated total income for Q1 FY26 was ₹165.22 crore, reflecting a 31.64% increase from ₹125.51 crore recorded in the same quarter of the prior fiscal year. Amit Jain, the chairman and managing director, stated, “We are pleased to announce a robust year-on-year growth, with pre-sales up by 17.1% and collections increasing by…

IndustryLatest Stories

Sobha Q1 FY26 Net Profit at ₹13.61 Crore

NEW DELHI: Sobha has reported a remarkable 124.96% increase in its net consolidated profit for the quarter ending June 30, 2025. The profit after tax reached ₹13.61 crore in Q1 FY26, compared to ₹6.05 crore in the same quarter of the previous fiscal year, as per a BSE filing. The company’s net consolidated total income was ₹901.40 crore in Q1 FY26, marking a growth of 34.57% from ₹669.85 crore in the corresponding quarter last year. Published On Jul 25, 2025 at 06:34 PM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the latest…

Housing FinanceLatest Stories

Aadhar Housing Finance Q1 FY26 Net Profit Rises 18.56%

NEW DELHI: Aadhar Housing Finance has reported a net consolidated profit growth of 18.56% for the quarter ending June 30, 2025. The profit after tax stood at ₹237.28 crore in Q1 FY26, compared to ₹200.14 crore in the same quarter of the previous fiscal year, as per the company’s BSE filing. The net consolidated total income for Q1 FY26 was ₹851.34 crore, reflecting a growth of 19.38% from ₹713.15 crore in the equivalent quarter last year. Rishi Anand, the MD & CEO, stated, “We ended FY26’s first quarter strongly, with an AUM of ₹26,524 crore, representing a year-on-year growth of…

IndustryLatest Stories

Embassy REIT Secures ₹2,000 Cr via 10-Year NCDs

Representative image created by AI NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has successfully raised ₹2,000 crore through a 10-year non-convertible debenture (NCD). The offering was priced with an effective coupon rate of 7.33% over ten years, featuring a step-up structure of 7.25% for the initial five years, followed by 7.45% for the next five years. The raised funds will be used to refinance existing debts, leading to annual interest savings of approximately 70 basis points (bps). The issuance attracted interest from over 15 prominent institutional investors, including insurance companies, pension funds, and mutual funds, and was oversubscribed by…

IndustryLatest Stories

Elan Group Repays ₹875 Crore to Asia Pragati Early

Representative image created by AI NEW DELHI: The Elan Group has completed an early repayment of its ₹875 crore loan from Asia Pragati Strategic Investment Fund, a division of PAG. The investment, made in 2022, was allocated towards growth capital for the company. This move to reduce debt is anticipated to decrease interest obligations, enhance liquidity, and provide opportunities for future project investment and land acquisitions. The Elan Group’s portfolio includes 15 projects across Gurugram and New Delhi, totaling around 25 million sq ft in built-up area. Published On Jul 25, 2025 at 04:00 PM IST Join over 2M industry…

IndustryLatest Stories

Property Owners Hope for Regularisation as Maharashtra Scraps Act

PUNE: Thousands of property owners under the Pune Municipal Corporation (PMC) and other civic bodies are expected to receive relief as the government has repealed the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act (amended in 2015), commonly referred to as the Tukde Bandi law. This legislation imposed restrictions on subdividing land into smaller plots. Revenue Minister Chandrashekhar Bawankule announced during a recent assembly session that the state will now regularize land divisions of up to one guntha (1,089 square feet) made before January 1, 2025. This change will allow property owners to obtain registrations, building permits, and legal…

Latest StoriesRegulatory

Danda Panchayat Secretary Suspended for Housing Irregularities

GARHWA: Deputy Commissioner Dinesh Kumar Yadav suspended the secretary of Danda panchayat on Wednesday for allegedly enrolling ineligible beneficiaries in the state’s Abua Aawas Yojana. Shambhu Prasad was found to have excluded eligible beneficiaries and included questionable ones for the scheme during the 2023-24 fiscal year, following an investigation by Garhwa Sub-Divisional Officer (SDO) Sanjay Kumar, officials reported. After receiving multiple complaints, Yadav initiated the investigation into the beneficiary selection. “Abua Awas Yojana is a crucial scheme of the state government. The inclusion of ineligible beneficiaries undermines the scheme’s transparency and violates the rights of deserving recipients. It’s vital that…

Latest StoriesResidential

300+ PMAY Homes Available in Basant Kunj, Lucknow

Sure, here’s a rewritten version of the content: LUCKNOW: The lottery for distributing 1,000 housing units constructed under the Pradhan Mantri Awas Yojana (PMAY) as part of the Basant Kunj scheme kicked off on Thursday. The draws are being conducted at Mercury Hall, Indira Gandhi Pratishthan, and will extend into Friday and Saturday, with specific categories allocated for each day. On the first day, 307 applicants received housing allotments in Sector-I of the Basant Kunj scheme. LDA Additional Secretary CP Tripathi reported that allotments for Scheduled Castes, Scheduled Tribes, Other Backward Classes, Divyangjan, and senior citizens were finalized during Thursday’s…

InfrastructureLatest Stories

Chennai clears 2 lakh tonnes of building waste in 6 months

Representative Image CHENNAI: The Greater Chennai Corporation has successfully removed 2 lakh tonnes of construction and demolition (C&D) waste over the last six months across all 15 city zones. The cleanup operation commenced on January 7, initially focusing on seven zones before expanding to all after resolving a legal issue. Supported by Premier Precision Surface, the effort now utilizes 168 vehicles, including earthmovers, tipper lorries, and compact trucks, averaging about 1,000 tonnes of waste clearance per day. Officials stated that the waste is sent to recycling centers located at Kodungaiyur and Perungudi, where it is sorted and repurposed into paver…