Tag: Bengaluru

IndustryLatest Stories

Concorde aims for ₹650 crore in FY27, invests ₹200 crore in projects

NEW DELHI: Concorde is set to invest approximately ₹200 crore in FY27 as it aims to grow its project pipeline in Bengaluru, using a combination of outright land purchases and joint development agreements. The company reported sales of about ₹450 crore for FY26, compared to ₹340 crore the previous year, while recognized revenue fell between ₹395-400 crore. The firm anticipates improving its profit margin to around 15% in FY27 from the current 8-10% range. Traditionally focused on joint development projects, the company is now increasing its budget for outright land acquisitions as landowners in Bengaluru favor cash transactions due to…

Latest StoriesResidential

BDA Seeks Forest Solution for Stranded Banashankari Plot Owners

BENGALURU: Over 300 plot owners in Banashankari 6th Stage are struggling to construct their homes due to objections from the Forest Department regarding buffer zone regulations around the adjacent Turahalli Forest. To address this ongoing issue, the Bangalore Development Authority (BDA) has reached out to the Forest Department for a permanent resolution. This predicament concerns plots allocated by the BDA in various Blocks of the Banashankari 6th Stage layout several years ago. Despite the BDA distributing residential sites decades ago, the Forest Department later declared that numerous plots across various survey numbers fall within the buffer zone of the Turahalli…

InfrastructureLatest Stories

CAG Conducts Special Audit of 101 Cities for Living Assessment

BENGALURU: The Indian government is undertaking a comprehensive audit of 101 cities to evaluate citizens’ ease of living, as stated by Comptroller and Auditor General K Sanjay Murthy on Thursday. In his keynote speech at the 5th BRICS Supreme Audit Institutions (SAI) Leaders’ Summit, Murthy highlighted that the Comptroller and Auditor General (CAG) of India is reviewing multi-modal transport systems and logistics, collaborating with institutions such as the Indian Institute of Technology, Indian Institute of Management, and the World Bank. India is hosting this three-day summit under the theme ‘Ease of Living with a Focus on Urban Mobility’ during its…

IndustryLatest Stories

Brigade to Launch FY27 Projects, Focus on Mid-Segment Housing

NEW DELHI: Brigade Enterprises plans to move forward with its scheduled residential launches in FY27 and intends to continue land acquisitions despite evaluating the effects of global uncertainty, the slowdown in the technology sector, and delays in approvals, according to Pavitra Shankar, managing director of Brigade Enterprises. The company recorded real estate pre-sales of ₹7,424 crore in FY26, amounting to sales of 6.13 million sq ft. It aims to achieve approximately 9-10 million sq ft in residential sales for FY27 to sustain its long-term growth trajectory, with Shankar noting that customer sentiment and timely approvals are crucial factors. Edited excerpts…

Latest StoriesResidential

Karnataka Order Delay Leaves Homebuyers Frustrated

BENGALURU: Homebuyers and local representatives are eagerly awaiting a proposed meeting of MLAs to discuss the Karnataka Apartment (Ownership and Management) Bill. This proposal, introduced during a recent Assembly session in March 2026, aims to convene all stakeholders to talk about the draft Bill. Despite the anticipation, Deputy Chief Minister DK Shivakumar has yet to initiate the meeting, even after 40 days have passed. Homebuyers urge the state government to expedite the enactment of this law to protect apartment owners’ rights. Sameera Bharadwaj, a resident of Prestige Lake Ridge Apartments, Uttarahalli, expressed frustration at the delays: “The postponement of this…

IndustryLatest Stories

Brigade Enterprises’ Net Profit Up 6.51% to ₹724.76 Crore FY26

NEW DELHI: Brigade Enterprises has announced a 6.51% rise in its net consolidated profit for the financial year 2025-26. The profit after tax reached ₹724.76 crore compared to ₹680.47 crore recorded in FY25, according to a BSE filing. The company’s net consolidated total income for FY26 was ₹5,909.01 crore, reflecting an 11.21% growth from ₹5,313.54 crore in FY25. In Q4 FY26, the net consolidated total income dipped by 0.60%, standing at ₹1,523.11 crore compared to ₹1,532.29 crore in the same quarter last year. Profit after tax fell by 23.52% to ₹190.70 crore in Q4 FY26, down from ₹249.35 crore in…

IndustryLatest Stories

Embassy Developments Resumes Trading After NCLAT Ruling

NEW DELHI: Shares of Embassy Developments have resumed regular trading on the BSE and NSE after the National Company Law Appellate Tribunal (NCLAT) revoked the insolvency proceedings against the company. The appellate tribunal’s decision, made on May 4, 2026, nullifies the Corporate Insolvency Resolution Process (CIRP) previously initiated by the National Company Law Tribunal (NCLT) in December 2025. Consequently, all instructions associated with the CIRP are now void. Embassy Developments stated that its business operations and project execution continued without disruption during this time. The company reported pre-sales of approximately ₹4,631 crore for FY26, reflecting a 128% year-over-year growth. In…

CommercialLatest Stories

Bagmane Prime Office REIT IPO 71% Subscribed on Day 1

NEW DELHI: The IPO of Bagmane Prime Office REIT, backed by Blackstone, saw a 71% subscription on its first day of bidding on Tuesday. According to NSE data, bids were received for 10,55,39,250 units against 14,79,21,000 units on offer. The subscription rate for the category of other investors was 74%, while institutional investors subscribed at 69%. Furthermore, Bagmane Prime Office REIT has raised approximately ₹1,150 crore from anchor investors. The ₹3,405-crore public issue will close on May 7. The price band for the Bengaluru-based real estate investment trust (REIT) is set between ₹95-100 per unit. The IPO includes a fresh…

CommercialLatest Stories

Bagmane Prime Office REIT secures ₹1,150 crore from anchors

NEW DELHI: Bagmane Prime Office REIT, backed by Blackstone, has raised approximately ₹1,150 crore from anchor investors as its Initial Public Offering (IPO) opens for subscription today, with a total issue size of ₹3,405 crore concluding on May 7. The anchor book attracted a diverse array of institutional investors, including NPS Trust (through SBI Pension Fund schemes for central and state governments), WhiteOak Capital funds, SBI Life Insurance, Quant Mutual Fund, UTI MF, Kotak MF, Nippon India MF, Edelweiss MF, and JM Financial MF, based on a circular posted on BSE’s website. Additionally, global and domestic investors such as Societe…

Latest StoriesResidential

Hyderabad tops South India’s luxury market with ₹8,562 crore sales

Representative AI image NEW DELHI: In fiscal year 2026, Hyderabad recorded transactions totaling ₹8,562 crore for homes priced over ₹10 crore, establishing itself as the largest market for ultra-luxury housing in South India, as per a report by India Sotheby’s International Realty and CRE Matrix. The city surpassed Bengaluru significantly in terms of sales value. Bengaluru, however, achieved the fastest growth in this segment, with unit sales increasing by 52% year-on-year, rising from 84 units in the previous fiscal year to 128 units in FY26. The total transaction value in Bengaluru for this period reached ₹1,957 crore. The report noted…