28 Jul 2025

Prayagraj Municipal Corporation has launched a block-level property mapping and numbering initiative to streamline property identification and strengthen property tax collection. Each neighbourhood will be segmented into blocks of roughly 100 houses, with each ward hosting several blocks. A GIS survey is set to begin shortly, covering thousands of houses citywide. Previous attempts led to numbering of over 12,000 properties, and municipal records for new areas will be digitized by next year. This effort forms part of a broader smart-city upgrade involving traffic, water, sewer, energy systems and an enhanced command centre.Read more

28 Jul 2025

Elan Group has repaid a INR 875 crore debt to Asia Pragati Strategic Investment Fund (PAG) ahead of schedule, citing robust internal cash flows driven by strong housing demand. The Gurugram-based firm confirmed the early settlement, originally availed in 2022, in a statement released on July 25, 2025. Sandeep Agarwal, Group CFO, highlighted the move as a major milestone, expected to reduce interest costs and boost financial efficiency. Elan currently manages 15 projects across Gurugram and New Delhi, covering 25 million sq ft. Known for commercial developments, the company recently forayed into luxury housing with a residential project on Dwarka Expressway.Read more

28 Jul 2025

The Phoenix Mills Ltd has announced it will acquire the remaining 49% stake in Island Star Mall Developers Pvt Ltd (ISMDPL) from the Canada Pension Plan Investment Board (CPP Investments) for INR 5,450 crore. With this deal, Phoenix Mills' stake in ISMDPL will increase from 51% to 100%, thereby giving it complete ownership of the JV. The transaction, approved by the company's board, aligns with its long-term strategy to consolidate high-performing assets and ensure sustained growth. The payment will be made in four tranches over a span of three years.Read more

28 Jul 2025

Bajaj Housing Finance recorded a 21% year-on-year increase in net profit, reaching INR 583 crore during the first quarter of FY26, supported by healthy loan demand and strong operational performance. Its total income rose 18% to INR 2,618 crore, and the loan book expanded nearly 24% to INR 1.20 lakh crore. Despite solid fundamentals, the company marginally revised its full-year loan book growth estimate downward, citing intensified competition and softer demand in the property market. Asset quality and liquidity buffers remained stable, and capital adequacy continued to stay well above regulatory norms.Read more

28 Jul 2025

TDI Infrastructure Ltd has cleared its entire debt of INR 2,000 crore, marking a major financial milestone in its corporate journey. The company, without resorting to any restructuring or waivers, is now fully debt-free and is shifting focus towards township and commercial property development. It is preparing to reintroduce its flagship project, TDI City in Kundli, and is planning a fresh foray into Ludhiana's real estate market. With a solid delivery track record across 2,500+ acres, TDI is now realigning for growth.Read more

27 Jul 2025

Ashiana Housing Ltd has reported an 83% surge in Q1 FY2025 sales bookings, reaching INR 430.97 crore, up from INR 235.32 crore in the same period last year. The company sold 5.95 lakh sq ft of residential space during April-June, compared to 4.42 lakh sq ft in Q1 FY2024. Known for its group housing projects and leadership in senior living developments, Ashiana continues to benefit from strong market demand and buyer confidence. This robust performance follows FY2024-25's total sales of INR 1,936.75 crore, highlighting sustained momentum for the Delhi-based developer and reflecting broader optimism in India's residential real estate market.Read more

27 Jul 2025

Uttar Pradesh recently raised its stamp duty waiver for properties registered in women's names from INR 10 lakh to INR 1 crore, increasing the maximum discount from INR 10,000 to INR 1 lakh. This change is expected to make middle-class women more financially independent and enhance their status in society. It also aligns with earlier national-level proposals to support women's property rights. Alongside this, the state cleared several other initiatives, including allocating land for an IR-detector research centre creating new jobs and boosting defence tech.Read more

26 Jul 2025

IndiaMART InterMESH announced a robust financial performance for the first quarter of fiscal year 2025-26, with its standalone net profit surging by 35 percent year-on-year to INR 154 crore. This positive result, coupled with a 12 percent growth in consolidated revenue from operations, is likely to keep IndiaMART shares in focus. The company also demonstrated healthy increases in customer collections and deferred revenue, driven by operational efficiencies including GenAI integration.Read more

25 Jul 2025

Sri Lotus Developers, a luxury real estate firm led by Anand Kamalnayan Pandit, has announced its INR 792 crore Initial Public Offering with a price band set at INR 140 to INR 150 per share. The IPO, set to open for subscription in the coming week, is a 100% fresh issue, with proceeds aimed at funding ongoing premium residential and commercial projects in Mumbai's western suburbs. The offering has attracted prior backing from prominent investors, including Bollywood celebrities and investor Ashish Kacholia, who collectively invested over INR 407 crore in a private placement round late last year.Read more

25 Jul 2025

Shares of Reliance Power and Reliance Infrastructure each plummeted 5%, hitting their respective lower circuit limits on the BSE, after the Enforcement Directorate (ED) launched large-scale raids in connection with a INR 3,000 crore bank loan fraud involving companies linked to Anil Ambani. The ED is investigating suspected money laundering and loan diversion tied to loans disbursed by Yes Bank between 2017 and 2019. While both firms emphasized that these developments bear no impact on their operations or governance, investor concerns triggered a sharp market reaction.Read more