Tag: Bengaluru

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…

IndustryLatest Stories

Sobha Announces FY26 Net Profit of ₹193.40 Crore

NEW DELHI: Sobha has announced a remarkable net consolidated profit growth of 104.27% for the financial year 2025-26. The profit after tax reached ₹193.40 crore in FY26, compared to ₹94.68 crore in FY25, according to a filing with the BSE. The company’s net consolidated total income for FY26 was ₹5,383.76 crore, representing a 29.33% increase from ₹4,162.75 crore in FY25. In Q4 FY26, net consolidated total income surged by 59.74% to ₹2,029.92 crore, up from ₹1,270.73 crore in the same quarter of the previous year. Profit after tax in this quarter rose by 124.80% to ₹91.83 crore, compared to ₹40.85…

IndustryLatest Stories

Pushback on Bengaluru’s Proposed Building Bylaw Amendments

BENGLALURU: The Bengaluru East City Corporation has released a draft notification proposing significant updates to the Bengaluru City Corporation Building Bye-laws, 2003. These updates include provisions to regularize specific construction deviations from approved plans through the payment of compounding fees. Published on April 1, 2026, under the Greater Bengaluru Governance Act, 2024, this draft amendment is open for public feedback for 30 days before final consideration. Key proposed changes include the removal of existing regulations regarding ground rent. Notably, the draft intends to modify Bye-law 6.0 to allow the Commissioner to regularize violations in sanctioned plans when demolition is unfeasible,…

Latest StoriesRegulatory

Bengaluru body not a ‘promoter’: Petition in Karnataka HC

BENGALURU: The Bangalore Development Authority (BDA) has filed a writ petition with the Karnataka High Court, dated April 27 and registered April 29. The petition seeks clarification on whether the Real Estate (Regulation and Development) Act, 2016, is applicable to its residential layouts and schemes. The petition names the Union of India, the Karnataka government, and the Karnataka Real Estate Regulatory Authority (K-Rera) as respondents. BDA argues that it doesn’t meet the definition of a “promoter” as per Section 2(ZK) of the Act and thus should not fall under K-Rera’s jurisdiction. Additionally, BDA is requesting a declaration that the provisions…

Latest StoriesRegulatory

Bengaluru Government Buildings Targeted Over ₹473 Crore Tax Debt

BENGALURU: The Special Commissioner (Revenue) of the Greater Bengaluru Authority (GBA) has issued a circular instructing all Commissioners of five City Corporations to initiate actions for recovering outstanding property taxes and service charges from government-owned properties in their areas. NR Ramesh, a former leader in the BBMP Council, highlighted in a letter that government buildings owe property taxes and service charges totaling ₹473 crore and urged authorities to collect these pending amounts. According to Ramesh’s letter, “Government authorities have ignored their obligations, effectively cheating the GBA by failing to pay property taxes and service charges annually. He also attached documentation…