Tag: Mumbai

IndustryLatest Stories

Arkade Developers’ Net Profit Falls 96.63% to ₹5.29 Crore

NEW DELHI: Arkade Developers has experienced a significant decline of 96.63% in its net consolidated profit for the fiscal year 2025-26. The profit after tax was reported at ₹5.29 crore compared to ₹156.92 crore in FY25, as per the company’s BSE filing. The net consolidated income rose to ₹828.16 crore in FY26, reflecting a 19.23% increase from ₹694.60 crore in FY25. In Q4 FY26, net total income surged by 48.18% to ₹199.06 crore from ₹134.34 crore year-over-year. However, the company faced a loss after tax of ₹109.56 crore in Q4 FY26, contrasting with a profit after tax of ₹32.26 crore…

IndustryLatest Stories

Ajmera Realty Net Profit Rises 18.93% to ₹149.79 Crore in FY26

NEW DELHI: Ajmera Realty & Infra India has reported an 18.93% increase in its net consolidated profit for the financial year 2025-26. The profit after tax reached ₹149.79 crore in FY26, compared to ₹125.95 crore in FY25, according to a filing with the BSE. The company’s total net consolidated income was ₹1,098 crore for FY26, showing a 45.80% growth from ₹753.11 crore in FY25. In Q4 FY26, the net consolidated income surged by 181.30% to ₹439.93 crore, up from ₹156.39 crore in the same quarter last year. Profit after tax also saw a significant growth of 119.94%, rising to ₹55.60…

IndustryLatest Stories

Kalpataru Launches Kandivali East Redevelopment Project

NEW DELHI: Kalpataru has initiated a cluster redevelopment project involving five neighboring societies in Ashok Nagar, Kandivali East, Mumbai. The development covers 2.8 acres, with a free sale potential of 0.37 million square feet of carpet area and an estimated gross development value (GDV) of approximately ₹1,250 crore. In Q4 FY26, the pre-sales value reached ₹1,833 crore, a six percent increase from ₹1,724 crore in Q4 FY25. Collections totaled ₹1,487 crore, up 41 percent from ₹1,057 crore the previous year, with an area sold of 1.15 million square feet. Average sale realization during this quarter was ₹15,969 per square foot.…

Latest StoriesRegulatory

SRA Targets 219 Rehab Buildings in Mumbai Lacking OC

Representative AI image MUMBAI: The state government has initiated an amnesty scheme aimed at regularizing buildings lacking an Occupancy Certificate (OC). In response, the Slum Rehabilitation Authority (SRA) has issued notices to over 200 buildings citywide that have not obtained an OC but have been allocated to eligible slum dwellers. According to SRA data, there are 219 SRA rehabilitation unit buildings without an OC across the city’s 24 administrative wards. Consequently, the slum dwellers residing in these buildings are denied corpus funds for maintenance, and developers often pressure them to occupy the units before an OC is acquired to avoid…

CommercialLatest Stories

ICICI Prudential AMC Acquires VIOS Tower in Mumbai for ₹525 Cr

Investment management firm ICICI Prudential Asset Management Company has acquired nine floors of the VIOS Tower, a commercial property, from global asset manager Varde Partners in Wadala, central Mumbai, for over ₹525 crore. The acquisition provides more than 3 lakh sq ft of office space through the ₹2,500-crore ICICI Prudential Office Yield Optimiser Fund II, dedicated to acquiring completed and pre-leased office properties in major Indian markets. The office space, spanning from the ground to the 8th floor, is fully leased to established companies and is anticipated to yield more than 8% annually, with lease agreements featuring a 5% rental…

CommercialLatest Stories

Mumbai: New Commercial Tower Proposed for Mulund Salt Pans

MUMBAI: Navbharat Mega Developers Private Limited has submitted a proposal for the transformation of the salt pans in Mulund, Bhandup, and Kanjurmarg to the Dharavi Redevelopment Authority. This company is the special purpose vehicle responsible for executing the Rs 20,000-crore Dharavi Redevelopment Project (DRP), with the Adani Group holding an 80 percent stake; the firm was previously known as Dharavi Redevelopment Project Private Limited. The proposal outlines the construction of one commercial building and 18 residential towers (all 180 metres high) on the Mulund salt pan, along with a yet-to-be-determined number of towers for Dharavi residents who qualify for rehabilitation.…

Latest StoriesResidential

MHADA Begins Allotment of 827 Rehab Units in Worli BDD Chawl

NEW DELHI: The Maharashtra Housing and Area Development Authority (MHADA) has initiated the allocation process for 827 rehabilitation tenements within the Worli BDD Chawl redevelopment project. This allocation is targeted at eligible residents in wings F, G, and H of rehabilitation building one. On the first day, allotment letters were issued to 41 eligible residents, with 36 individuals receiving keys to their units after submitting the necessary documentation. The allotment and possession letters are being distributed at MHADA’s project office located in Sumer Kendra, Worli, on weekdays from 11 am to 6 pm, excluding public holidays. The Worli BDD Chawl…

IndustryLatest Stories

Adani, Reliance, Lodha, JSW vie for 206-acre Mumbai project

Realty developers such as Adani Properties, Reliance 4IR, Lodha Developers, and JSW Realty & Infrastructure have placed bids to redevelop three significant housing colonies covering over 206 prime acres in Mumbai’s key neighborhoods: Worli, Bandra Reclamation, and Andheri West. The Maharashtra Housing and Area Development Authority (MHADA) opened technical bids for these projects on Tuesday, covering 98.27 acres at Bandra Reclamation, 73.89 acres at Sardar Vallabhbhai Patel (SVP) Nagar in Andheri West, and 34.33 acres at Adarsh Nagar in Worli. On April 8, the Mumbai Housing and Area Development Board, a unit of MHADA, issued tenders to appoint construction and…

IndustryLatest Stories

NeoLiv buys 76 acres in Khopoli for villa project development

Representative image Institutional investor-backed residential development platform NeoLiv has secured a 76-acre land parcel in Khopoli, near Mumbai, to pursue a plotted residential development. This acquisition marks NeoLiv’s third land transaction in the Panvel-Khopoli region, coinciding with the government of Maharashtra’s upcoming Mumbai 3.0 initiative. The company plans to create a mixed-use community featuring premium villas, plots, and retail opportunities, complemented by theme-based developments, with an estimated Gross Development Value (GDV) of ₹800 crore. “This acquisition is a significant milestone for NeoLiv as we embark on our third major plotted development project in one of the most desirable micro-markets in…

Latest StoriesRegulatory

Mumbai Builder Arrested for Illegally Selling SRA Flats

MUMBAI: The Economic Offences Wing (EOW) of the city police has apprehended builder Sohail Abdullah Dukka for unlawfully selling flats within a slum redevelopment initiative in Jogeshwari. The case emerged from a complaint by Mohammad Momin, who accused Dukka of misappropriating substantial funds while being a partner in Unique Developers, the company tasked with the “One Jogeshwari” Slum Rehabilitation Authority (SRA) project at Behram Baug, Jogeshwari West. Dukka is currently in custody for another case registered at the MIDC police station. He faces allegations of selling approximately 10 flats independently in the project between 2023 and December 2025 at rates…