Category: Latest Stories

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IndustryLatest Stories

IndiQube Spaces IPO Fully Subscribed; Retail Portion 7x Over

NEW DELHI: IndiQube Spaces’ ₹700-crore initial public offering (IPO) saw full subscription by the second day of bidding, driven by strong interest from retail and non-institutional investors. The IPO, which kicked off on July 23, is set to close on July 25, 2025. As of 5:04 PM on July 24, the IPO was subscribed 2.68 times overall, with the retail segment oversubscribed at 7.32 times. The employee allocation was subscribed 4.74 times, while the qualified institutional buyer (QIB) section was 1.49 times subscribed. Non-institutional investors (NII) saw a subscription of 1.94 times, with small NIIs bidding at 2.62 times and…

CommercialLatest Stories

EFC (I) reports Q1 FY26 net profit of ₹46.67 crore

NEW DELHI: Pune-based EFC (I) has announced a remarkable 195.94% rise in its net consolidated profit for the quarter ending June 30, 2025. The company’s profit after tax (PAT) reached ₹46.67 crore in Q1 FY26, compared to ₹15.77 crore during the same quarter last year, as reported in a BSE filing. The net consolidated total income for the company stood at ₹223.25 crore in Q1 FY26, reflecting a growth of 112.05% from ₹105.28 crore recorded in the corresponding period last year. In the leasing segment, EFC (I) added 145,000 sq ft of space in Q1 FY26, which equates to an…

IndustryLatest Stories

Prayagraj to Launch Block-Level Mapping & Property Numbering

Representative image created by AI PRAYAGRAJ: The Prayagraj Municipal Corporation is launching a block-level mapping and numbering system to enhance property identification and streamline property tax collection. This initiative aims to simplify the process of locating individual houses and improve municipal services such as tax collection and property surveys. Under this plan, localities will be subdivided into smaller blocks, each containing around 100 houses. Depending on the size and population of each area, wards will likely consist of five to seven blocks. With 100 wards in the city, there could be a total of 3,000 to 4,000 blocks across Prayagraj.…

IndustryLatest Stories

Concorde to co-develop 2.16 acres of residential project in East Bengaluru

Representative image created by AI NEW DELHI: Concorde has announced a joint development for a high-rise residential project named Concorde Élevé, located on Old Madras Road (OMR) in East Bengaluru. The project offers a development potential of approximately 3.2 lakh sq ft and is estimated to have a gross development value (GDV) of ₹475 crore. Spanning 2.16 acres, it will consist of 136 units available in 3 and 4 BHK configurations. The tower is set to reach 36 floors with four units per floor, while maintaining an overall open space of 70%, as per company details. The development plans include…

IndustryLatest Stories

30,000 Properties Missing from Nagpur Civic Database, Not Taxed

NAGPUR: A recent land use verification exercise by the Nagpur Municipal Corporation’s (NMC) Development Plan (DP) unit has uncovered 30,000 previously unrecorded structures within city limits. This finding raises significant concerns regarding tax evasion and the reliability of civic data. The DP unit identified these structures while assessing existing land usage as part of its urban planning responsibilities. In response, the NMC’s property tax department has begun a thorough cross-verification of the information. Officials intend to overlay the new discoveries onto the corporation’s existing GIS (Geographical Information System) property database to pinpoint properties that are not currently subject to tax.…

IndustryLatest Stories

Mumbai’s Heritage Group Fights Back Against Iconic Buildings Policy

MUMBAI: Nearly a month after the BMC sought feedback on a proposed amendment to the Development Control and Promotion Regulation (DCPR) 2034, aimed at establishing a new policy for ‘Iconic Buildings’ under Regulation 33(27), the Fort Heritage Conservation Association has expressed concern over the ambiguous definition of what constitutes iconic buildings. The proposed policy describes ‘Iconic Buildings or Spaces’ as structures distinguished by unique features such as size, shape, aesthetics, design concept, urban design, or structural characteristics. “What is deemed iconic by some may not be universally recognized. The term ‘iconic’ is defined in unclear and subjective ways, making it…

IndustryLatest Stories

Urbanization should prioritize livability, not just housing: MoHUA

NEW DELHI: D Thara, Additional Secretary of the Ministry of Housing and Urban Affairs, stated that urbanization needs to prioritize enhancing the quality of living rather than merely focusing on housing. Thara emphasized the necessity to “reimagine urbanization” through a tailored approach, rather than just addressing housing supply. “We must shift our perspective on land and embrace a new paradigm,” she remarked. As urbanization is anticipated to accelerate significantly—equaling the scale of the last century within twenty years—she underlined the importance of harmonizing urban growth with the protection of rural and agricultural land. “We need to systematically densify,” she added.…

IndustryLatest Stories

Sri Lotus Developers’ IPO Opens July 30, Priced at ₹140-₹150

NEW DELHI: Sri Lotus Developers and Realty has established a price range of ₹140 to ₹150 per equity share of face value ₹1 for its initial public offering (IPO). The IPO is set to open for subscription on July 30, 2025, and will close on August 1, 2025. Investors can bid for a minimum of 100 equity shares, with options to bid in multiples of 100 shares thereafter. A discount of ₹14 per share is available for eligible employees participating in the employee reservation segment. The IPO consists entirely of a fresh issue of shares up to ₹792 crore, with…

IndustryLatest Stories

Thane Civic Chief: No Power to Unauthorized Properties

Representative Image THANE: On Wednesday, Thane Municipal Commissioner Saurabh Rao directed power companies to refrain from supplying electricity to any unauthorized structures, emphasizing the need for verification of legal statuses. During a high-level meeting at the Thane Municipal Corporation (TMC) headquarters, Rao stressed that providing power to unauthorized buildings contravenes court orders and should be strictly prohibited through diligent verification processes. “The high court has explicitly stated that electricity should not be supplied to unauthorized constructions,” he affirmed, noting that both Maharashtra State Electricity Distribution Company (MSEDCL) and Torrent Power are legally obligated to confirm a building’s legality before permitting…

InfrastructureLatest Stories

AP CM Seeks Future-Ready Master Plan for Vizag Amid Investment Growth

VIJAYAWADA: Chief Minister N. Chandrababu Naidu highlighted the necessity for a comprehensive master plan for Visakhapatnam, tailored to future investments and needs. He remarked that numerous companies are flocking to the city, where available land is scarce. During a meeting of the State Investment Promotion Board (SIPB) on Wednesday, Naidu emphasized the importance of securing appropriate land for incoming investment projects and developing the necessary infrastructure for future growth. In response to concerns raised about traffic and infrastructure difficulties in cities like Pune and Bengaluru, Naidu advised developing a sustainable master plan that would cater to Visakhapatnam’s requirements over the…