Tag: Bengaluru

CommercialLatest Stories

Knowledge Realty Trust to invest ₹700 crore in Bengaluru office space

NEW DELHI: Knowledge Realty Trust (KRT), a realty firm, plans to invest Rs 700 crore over the next three years to develop 1.4 million sq ft of office space in Bengaluru as part of its expansion strategy, according to a company executive. KRT is a real estate investment trust (REIT) backed by the Sattva Group and investment firm Blackstone. In an interview with PTI, KRT’s CEO, Shirish Godbole, stated that the company is actively pursuing the acquisition of prime office assets to drive organic growth. Godbole noted that KRT is performing well and expects to maintain its growth momentum in…

Latest StoriesRegulatory

Bengaluru Civic Bodies See Revenue Drop from Khata Scheme

BENGALURU: A significant reduction in fees for converting B-khata properties to A-khata is poised to affect Bengaluru’s civic finances, with five city corporations projected to lose about ₹1,015 crore in revenue this year. As part of the “Nanna Khata Nanna Hakku” initiative launched by the Greater Bengaluru Authority on May 15, property owners now have 100 days to regularize B-khata properties by paying just 2% of the guidance value, down from 5%. Officials noted this adjustment will allow citizens to save substantial amounts; however, it will severely impact revenue streams that have already been included in the 2026-27 civic budgets.…

Latest StoriesResidential

Bengaluru Renters Disappointed as Promises Fall Short

BENGALURU: Numerous property owners who entered agreements with an asset management company have reported delays in receiving their rental income. Some owners claim they haven’t received payments for five to eight months. The number of such cases appears to be growing, raising concerns about disputes over leasing agreements. “I signed a lease with Jones Asset Management to rent out my 3 BHK flat last year. Initially, everything was fine, but later they began to delay rent payments by one or two months,” stated L Kumar, one of the property owners. Another property owner, Sriram P, expressed concern after not receiving…

Latest StoriesResidential

Azim Premji’s Son Purchases ₹45.7 Crore Home in Bengaluru

Sure! Here’s a rewritten version of the content: BENGALURU: Tariq Premji, son of renowned philanthropist and Wipro founder Azim Premji, has purchased a luxury duplex penthouse in central Bengaluru for ₹45.7 crore, as per property registration documents from Zapkey. The apartment is situated in “27 Summit,” an ultra-luxurious residential tower in Sampangiramnagar, close to the city’s CBD. Developed by Maia Estates-backed Nestled Haven Developers, the transaction was recorded in February of this year. The duplex, known as Penthouse B, occupies the 25th and 26th floors of the tower, covering a carpet area of 7,065 square feet and a super built-up…

IndustryLatest Stories

Prestige Estates’ Profit Soars 111.61% to ₹1,305.4 Cr in FY26

NEW DELHI: Prestige Estates Projects has announced a remarkable 111.61% growth in its consolidated net profit for the fiscal year 2025-26, reaching ₹1,305.4 crore compared to ₹616.9 crore in FY25, according to a filing with BSE. The company’s overall consolidated income for FY26 amounted to ₹13,195.5 crore, up by 70.58% from ₹7,735.5 crore in FY25. In the fourth quarter of FY26, the net consolidated income surged by 160.71% to ₹4,143.5 crore, rising from ₹1,589.3 crore in the same quarter of the previous year. The profit after tax for Q4 FY26 was ₹291.8 crore, compared to ₹43.1 crore reported during the…

CommercialLatest Stories

Intuit Signs ₹915 Crore Lease for 6.3 Lakh Sq Ft in Bengaluru

US-based financial software company Intuit has finalized a deal exceeding Rs 915 crore to lease over 630,000 sq ft of office space within a commercial tower in Bengaluru’s Embassy Tech Village. This transaction is among the largest focused on Global Capability Centres (GCC) in the city, underscoring the ongoing strength in India’s office leasing sector, particularly from GCC businesses expanding their engineering, AI, fintech, and product development teams. Intuit has secured approximately 631,978 sq ft across blocks 8A, 8B, and 8C in the tower from Vikas Telecom, a special purpose vehicle of Embassy Office Parks REIT, through a 10-year lease,…

IndustryLatest Stories

Puravankara Reports ₹56.75 Crore Net Profit for FY26

NEW DELHI: Puravankara has reported a net consolidated profit after tax of ₹56.75 crore for the financial year 2025-26, a significant turnaround from the loss of ₹182.92 crore reported in FY25, according to a filing with the BSE. The company’s net consolidated total income reached ₹3,846.42 crore in FY26, marking an impressive growth of 83.76% compared to ₹2,093.13 crore in FY25. In Q4 FY26, the net consolidated total income surged by 173.37%, amounting to ₹1,540.99 crore, compared to ₹563.70 crore in the same quarter of the previous year. The profit after tax for Q4 FY26 was ₹109.95 crore, recovering from…

CommercialLatest Stories

Table Space adds 5 lakh sq ft in Hyderabad; TEC expands 4.65 lakh sq ft in South India

Sure! Here’s a rewritten version of the content: NEW DELHI: Table Space, a flexible workspace provider, has significantly expanded its Hyderabad presence with an addition of over five lakh sq ft of managed office space in HITEC City and Kokapet. The company has secured a lease for four lakh sq ft at Grava Business Park to offer managed workspaces and ready-to-occupy suites. Additionally, they have leased 50,000 sq ft at K. Raheja Mindspace IT Park, conveniently located near the Raidurg Metro Station, and 48,000 sq ft at Aparna Technopolis near the HITEC City Metro Station. In other news, The Executive…

IndustryLatest Stories

Bengaluru Housing Crisis Hits Breaking Point

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has instructed the Bengaluru Development Authority (BDA) to facilitate the establishment of an Association of Allottees for the Gunjuru Housing Project Phases 1 and 2. This involves transferring common areas and essential title documents to the Association, as per legal requirements. During proceedings concerning a petition by Narayan Shetty, an allottee, K-RERA emphasized that Phases 1 and 2 of the project are subject to regulation under Section 3 of the Act. The order mandates that the promoter/developer register the project within two weeks and submit an application for an occupancy certificate within…

CommercialLatest Stories

BuzzWorks Opens 16,000 Sq Ft Office in Mysuru

NEW DELHI: BuzzWorks, the managed office and co-working division of Brigade Group, has officially launched a new 16,000 sq. ft. center on Vinoba Road in Mysuru. The facility can accommodate over 500 workstations and is situated within the Brigade Vantage commercial complex, which spans 1.3 lakh sq ft. Plans are in place to further expand the center by an additional 16,000 sq ft in the near future. Siddharth Verma, the business head, remarked, “This launch is a part of our broader multi-city expansion strategy that we intend to execute during this financial year.” In addition, BuzzWorks is set to expand…