Tag: Mumbai

IndustryLatest Stories

Lodha Developers’ Q2 FY26 net profit jumps 86.67%

NEW DELHI: Lodha Developers has announced an impressive 86.67% increase in its net consolidated profit for the quarter ending September 30, 2025. Their profit after tax reached ₹789.80 crore in Q2 FY26, compared to ₹423.10 crore in the same quarter last year, as stated in a filing to the BSE. The company’s total consolidated income for Q2 FY26 was ₹3,878.90 crore, marking a 44.49% rise from ₹2,684.60 crore in the corresponding quarter of the previous fiscal year. Abhishek Lodha, MD & CEO of the company, expressed, “We are delighted to report our best-ever Q2 performance, achieving pre-sales of ₹45.7 billion,…

IndustryLatest Stories

Dharavi Redevelopment: SRA Named Planning Authority for Salt Pan Land

Representative image MUMBAI: The Dharavi Redevelopment Project (DRP) and the Slum Rehabilitation Authority (SRA) have been designated as the special planning authority for the 42.51-acre Jamasp Salt Pan land located in Mulund East. According to a notification released on October 27 by the state urban development department, the SRA has been assigned this authority over the Dharavi area and the adjacent railway land included in the rehabilitation initiative. Additionally, it has authority over the 8.5-hectare Kurla Dairy site. The Mulund salt pan is part of the 256 acres the Centre has approved to be transferred for the Dharavi redevelopment project,…

InfrastructureLatest Stories

BMC Teams Verify Compliance at Mumbai Construction Sites

MUMBAI: In response to criticism regarding late warnings to construction sites that failed to install AQI monitors, the BMC stated it has mobilized ward-level squads to monitor compliance with 28-point guidelines. Civic officials mentioned that show cause and stop work notices are being issued to non-compliant construction sites. “In September alone, we issued 314 notices, comprising 275 show cause notices and 39 stop work notices, to construction sites citywide. This process is ongoing, with squads regularly visiting to ensure guidelines are being followed. Additionally, notices are being issued to sites that have yet to install AQI monitors,” remarked a civic…

IndustryLatest Stories

Raymond Realty Q2 FY26 Income Reaches ₹706 Crore

NEW DELHI: Raymond Realty has reported a total income of ₹706 crore in Q2 FY26, marking a 20% year-on-year increase from ₹589 crore in Q2 FY25. The company’s EBITDA rose to ₹101 crore in Q2 FY26, compared to ₹95 crore in the same quarter last year, with an EBITDA margin of 14.3% in Q2 FY26, down from 16.2% in Q2 FY25. According to Harmohan Sahni, managing director, “We are on track with our strategic plan for the latter half of the year, expecting increased operational activity supported by a new pipeline of project launches.” The current potential revenue from its…

Latest StoriesResidential

Nadiadwala Grandson Entertainment Acquires ₹36.57 Crore Apartments

NEW DELHI: Nadiadwala Grandson Entertainment has acquired two apartments in Prabhadevi, Mumbai, totaling ₹36.57 crore. Both purchases were recorded in October 2025. As per property registration documents from the Inspector General of Registration (IGR) reviewed by Square Yards, the first apartment, situated in Hubtown Twenty Five South North in South Mumbai, is valued at ₹18.57 crore. It boasts a RERA carpet area of 222.13 sq meters (2390 sq ft) with an additional area of 19.40 sq meters (208 sq ft) and includes two dedicated parking spaces. The related stamp duty for this transaction was ₹1.11 crore, along with registration fees…

Latest StoriesResidential

Khar Kolis to Bombay HC: Fish Drying Land Favoring Builders

MUMBAI: Two societies representing the Koli community in Danda Koliwada, a fishing village in Khar, have filed a petition against the Bombay High Court regarding an order from the Slum Rehabilitation Authority (SRA) that classified part of their land, currently used for drying fish and related activities, as a slum rehabilitation area. The Danda Koli Masemari Vyavasayik Sahakari Maryadit and Danda Koli Samaj are contesting the SRA CEO’s order dated May 17, 2022, concerning 3,450 sqm of land that is reserved for a fish drying yard under the approved development plans (DPs). “Including such reserved land in a slum rehabilitation…

Latest StoriesRegulatory

Bombay HC Restores Registration of Housing Society Federation

MUMBAI: The Bombay High Court has reinstated the registration certificate of a housing society federation, stating that the decision to deregister it was legally “unsustainable.” Justice Amit Borkar emphasized, “Judicial discretion cannot be exercised to reward falsehood,” noting that the deregistration occurred following a seven-year delay, with the appeal based on evidently false claims without credible evidence. The Federation of Cooperative Housing Societies from Borivli West challenged an April 2025 order by the divisional joint registrar of Cooperative Societies, which annulled its status as a ‘Cooperative Society’—a designation granted in January 2018 under the Maharashtra Cooperative Societies Act. The petition…

CommercialLatest Stories

Starlink Leases Office Space in Mumbai’s Chandivali

Representative image Elon Musk’s Starlink Satellite Communications Pvt Ltd has taken a significant step in its expansion plans by leasing office space in the Chandivali suburb of Mumbai. This move is part of Starlink’s strategy to establish a presence in India as it aims to secure regulatory approvals and start operations in the country. This marks the first reported office space leased by Starlink in Mumbai, an important development as the company intensifies its efforts in India. The company has signed a lease for a ground floor area at the Boomerang commercial property in Chandivali, with the lease set for…

Latest StoriesResidential

Mumbai: Sanjan Bungalow’s Original Owners Challenge Sale

MUMBAI: The Davierwalla family, original owners of the Sanjan bungalow property—which was transformed into an affordable facility for the Parsi-Irani community—has firmly opposed its sale to a developer. The family sold the ancestral property in 1997 to the World Zoroastrian Organisation Trust Funds (WZOTF) for a nominal price of Rs 65 lakh, conditioned for community use only. Recently, TOI reported increasing backlash against WZOTF’s plan to sell the 2.5-acre property, citing losses due to low occupancy. In a letter to WZOTF trustees, sisters Anahita and Roshan Davierwalla declared they “strongly and unequivocally oppose the proposed sale of our ancestral property…

IndustryLatest Stories

NA Tax Scrapping Awaits GR; Pune Societies Get Notices

PUNE: Nearly a year after the state cabinet’s decision to abolish the non-agricultural (NA) tax in urban areas, housing societies are still awaiting an official government resolution (GR) to confirm the tax exemption. Several societies in Pune and Mumbai have received NA tax notices, leading some to pay the dues to avoid potential administrative actions. The NA tax, rooted in colonial times, is levied on properties built on agricultural land converted for non-agricultural use within municipal limits, excluding gaothan (village) areas. The cabinet’s decision to abolish this tax was made last October, but the law and judiciary department has delayed…