Tag: Bengaluru

IndustryLatest Stories

Shriram Properties Buys 4 Acres in Bengaluru

Representative image NEW DELHI: Shriram Properties (SPL) has successfully acquired a four-acre land parcel on Sarjapur Main Road in South-East Bengaluru through an outright purchase. The company intends to develop a high-rise residential project on this site, which is projected to encompass approximately five lakh square feet of saleable area with an estimated gross development value (GDV) of ₹550-600 crores. The launch of the project is anticipated in the latter part of 2026. Additionally, SPL has recently completed the acquisition of 100% equity shares in Shrivision Upscale Spaces on February 9, 2026, through a cash transaction at ₹10 per share…

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Puravankara Q3 FY26 Net Profit at ₹58.34 Crore

NEW DELHI: Puravankara announced a consolidated net profit after tax of ₹58.34 crore for the quarter ending December 31, 2025, according to a filing with the BSE. This contrasts with a loss after tax of ₹92.64 crore reported during the same quarter last year. The company’s consolidated total income reached ₹1,104.06 crore in Q3 FY26, compared to ₹334.20 crore in the corresponding quarter of the previous fiscal year. The board of directors has approved the re-appointment of Ashish Ravi Puravankara as managing director for a five-year term, effective from April 1, 2026, through March 31, 2031. Additionally, the board has…

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Arvind SmartSpaces Q3 FY26 Net Profit Drops 41.79%

NEW DELHI: Arvind SmartSpaces has experienced a significant decline of 41.79% in its net consolidated profit for the quarter ending December 31, 2025, with a profit after tax (PAT) of ₹29.21 crore compared to ₹50.18 crore in the same quarter last year, as noted in a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹170.50 crore, down by 20.87% from ₹215.47 crore reported in the equivalent quarter the previous year. The board of directors has approved the re-designation of Priyansh Kapoor, currently the whole-time director & CEO, as managing director & CEO of the company effective…

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Karnataka Raises Build Limits for Industrial Plots

Sure! Here’s a revised version of the content: BENGALURU: On Monday, the Karnataka government approved a significant increase in the permissible built-up area on its industrial land. This policy change aims to enhance land utilization in KIADB regions and attract further investments. The state has raised the allowable ground coverage for industrial plots from 65% to 75%. “Previously, only 65% of the land could be utilized for construction, leaving 35% dedicated to setbacks and parking. We have revised this to 75%. There was a clear demand from the industry for better land use, and our assessment indicates that the city…

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Embassy Developments Q3 FY26 Loss Widens to ₹234 Crore

NEW DELHI: Realty firm Embassy Developments Ltd reported a consolidated net loss of ₹233.71 crore for the quarter ending in December. This contrasts with a net loss of ₹26.54 crore during the same period last year. Total income decreased to ₹264.01 crore in the third quarter of this fiscal year, down from ₹329.13 crore in the corresponding quarter of the previous year, as stated in a regulatory filing. Embassy Developments Ltd, previously known as Indiabulls Real Estate Ltd, is a prominent real estate developer in India, focusing on residential and commercial projects across Bengaluru, Mumbai Metropolitan Region (MMR), National Capital…

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Shriram Properties Acquires Shrivision Upscale Spaces

NEW DELHI: Shriram Properties has announced the acquisition of 100% equity shares of Shrivision Upscale Spaces, as stated in a regulatory filing. This acquisition was finalized on February 9, 2026, for a cash consideration of ₹10 per share (at par). The target company has a paid-up share capital of ₹1 lakh and reported no turnover as of March 31, 2025. The company noted that this acquisition is strategic and intended for business purposes. It clarified that the transaction does not qualify as a related party transaction, emphasizing that no promoter or promoter group entities hold any interest in the acquired…

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Confident Group Vows Project Completion After Chairman’s Death

File Photo KOCHI: Following the alleged suicide of its chairman in Bengaluru last week, Confident Group reaffirmed on Monday that it is a zero-debt, zero-investor company. The firm reassured customers that all ongoing projects will be completed as scheduled. Confident Group’s MD, T A Joseph, clarified that a recent Income Tax audit at their Bengaluru office was routine and that IT officials had not engaged in “extreme harassment” during the inspection. His comments come in light of the controversy surrounding the alleged suicide of chairman C J Roy during the IT inspection on January 30. Joseph emphasized that IT officials…

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Bengaluru to Reduce Penalties for Vacant Sites Citywide

BENGALURU: The Bangalore Development Authority (BDA) is considering a reduction in penalties for allottees who have left their residential plots vacant for years. This decision comes after the authority recognized that the current flat-rate penalty system has not been effective. During a recent governing council meeting, officials acknowledged that the existing 10% penalty, linked to market values, has failed to incentivize site owners to either pay or begin construction. Many beneficiaries have ignored demand notices, prompting the BDA to explore a more practical and graded penalty structure. Under the proposed changes, beneficiaries who build homes within five years of receiving…

CommercialLatest Stories

CapitaLand India Trust Secures ₹915 Cr from First Onshore Bond

NEW DELHI: CapitaLand India Trust (CLINT) has successfully raised ₹915 crore through its inaugural onshore bond issuance in India, as announced by CEO Gauri Shankar Nagabhushanam. This initiative aims to achieve a 3.8% increase in distribution per unit (DPU), which will help mitigate currency volatility and enhance tax efficiencies. Currently, only 16% of CLINT’s loan book is situated in India, with plans to expand this to 40-50%, equivalent to between S$800 million to S$1 billion, over the next two and a half to three years as existing offshore tenors mature. The company has signed a forward purchase agreement for a…

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Bengaluru body to inform public about illegal layouts

BENGALURU: The Bangalore Development Authority (BDA) has identified 258 unauthorized layouts within its jurisdiction as part of its initiative to combat illegal urban development. To educate citizens about proper construction and planning, the BDA is set to release a series of public interest notices. These notices will outline important details, including the definition of a layout, necessary approvals, and the authorities responsible for granting permissions. The awareness campaign, expected to kick off in Budigere and its neighboring areas, has emerged in response to the ongoing conversion of agricultural and green belt lands into residential plots. The BDA has issued a…