28 May 2025

The Municipal Corporation of Gurugram (MCG) has escalated its efforts to recover property tax dues by issuing notices to 22 major defaulters, each owing more than INR 50 lakh. This action forms part of a larger crackdown, with lists of defaulters prepared for every municipal zone. The MCG has also warned residents against engaging middlemen for property tax corrections and urged direct reporting of such incidents. Following years of minimal enforcement that saw revenue dip drastically, the corporation is now enforcing stricter penalties, including property sealing and auctioning, to ensure timely tax compliance and secure funds for city development.Read more

28 May 2025

Interarch Building Solutions, a key player in the pre-engineered steel construction sector, registered a robust 30% rise in net profit to INR 38.68 crore during the final quarter of the previous financial year, driven by a significant increase in revenue. The company's total income surged to INR 470.58 crore in the January-March quarter, while annual figures reached INR 1,474.47 crore. Managing Director Arvind Nanda highlighted this as the company's best-ever financial performance and announced the proposal of its first-ever dividend. He expressed optimism about maintaining growth in the ongoing fiscal year, backed by a solid order pipeline.Read more

28 May 2025

In a significant development within the commercial real estate segment, NBCC Ltd, a government-owned construction and consultancy firm, has secured an INR 161.55 crore project from Power Finance Corporation (PFC) for the complete interior fit-out of its newly purchased office space at the World Trade Centre in Nauroji Nagar, New Delhi. The Memorandum of Understanding between the two entities was signed earlier this week. The office space, spread across all ten floors of Tower-H (G+9), spans a total carpet area of 2,70,758 square feet. This collaboration highlights the growing demand for premium commercial spaces in strategic business districts.Read more

28 May 2025

ITC Ltd, one of India's leading diversified conglomerates, recorded an impressive financial performance for the quarter and fiscal year that concluded recently. The company's consolidated net profit for the final quarter saw a nearly four-fold increase year-on-year, while its annual profit surged close to 69%. Although quarterly revenue growth remained subdued, annual revenue witnessed a healthy 10.4% rise. The board has recommended a final dividend of INR 7.85 per ordinary share, reflecting confidence in the company's financial strength. Interestingly, ITC's shares closed lower on the day the results were declared, as the announcement came after trading hours.Read more

01 Jan 1970

Ferguson, a major distributor in North America's USD 340 billion construction market, has inaugurated its Global Capability Centre (GCC) in Bengaluru in collaboration with ANSR. This move forms part of Ferguson�s larger digital transformation drive, aiming to elevate its global operational capacity, speed, and customer experience. The centre will play a vital role in areas such as AI, software engineering, ERP, CRM, and analytics. Over 50 professionals have already joined the facility, which is projected to scale significantly in the coming years while offering leadership roles and tech career prospects.Read more

01 Jan 1970

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more

01 Jan 1970

Ferguson, a major distributor in North America's USD 340 billion construction market, has inaugurated its Global Capability Centre (GCC) in Bengaluru in collaboration with ANSR. This move forms part of Ferguson�s larger digital transformation drive, aiming to elevate its global operational capacity, speed, and customer experience. The centre will play a vital role in areas such as AI, software engineering, ERP, CRM, and analytics. Over 50 professionals have already joined the facility, which is projected to scale significantly in the coming years while offering leadership roles and tech career prospects.Read more

01 Jan 1970

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more