21 Jul 2025

In a first, the National Housing Bank (NHB) has released the names of 48 housing finance companies (HFCs) that received refinance in the past financial year, including LIC Housing Finance, PNB Housing Finance, and Piramal Capital. This move aims to enhance transparency and prevent misuse of NHB's name. It follows concerns over Aviom India Housing Finance, which allegedly used outdated NHB sanction letters to mislead lenders. NHB has also tightened refinance norms for under-construction housing loans, now requiring third-party checks to ensure projects are below 50% completion before disbursal. These steps signal a stronger regulatory stance on financial discipline and sector integrity.Read more

21 Jul 2025

In a significant financial achievement, Mumbai's civic administration has for the first time collected INR 269 crore in property tax from businesses operating within slum areas. This groundbreaking collection, stemming from the current fiscal year, marks a notable success in the Brihanmumbai Municipal Corporation's (BMC) efforts to tap into previously unassessed revenue streams. The initiative targets commercial establishments in informal settlements, which had largely remained outside the property tax net, and is part of a broader drive to formalize and bring more properties across the bustling city under taxation.Read more

20 Jul 2025

Indian Hotels Company Ltd (IHCL), part of the Tata Group, has invested over INR 165 crore in its subsidiary ELEL Hotel and Investment Ltd to support the development of the upcoming Taj Bandstand hotel in Mumbai. The capital infusion involved acquiring more than 3.3 lakh equity shares through a rights issue, with each share priced at INR 5,000. ELEL holds leasehold rights to the iconic Bandstand land parcel in Bandra, where the new luxury property will be built. This move highlights IHCL's focus on expanding its premium hotel footprint in major cities and reinforces its long-term commitment to luxury hospitality in top-tier urban locations.Read more

19 Jul 2025

The Indian mining and construction equipment (MCE) industry is projected to revive in H2 FY26, following a subdued start to the year, according to ICRA. The recovery is expected to be driven by increased government capital expenditure under schemes like Jal Jeevan Mission and PMGSY. Q1 FY26 saw MCE volumes dip 1% year-on-year due to early monsoons and slow project awards, though exports grew 31%. ICRA forecasts 2-5% volume growth for FY26, despite margin pressures from new emission norms and rising input costs, maintaining a positive long-term outlook.Read more

18 Jul 2025

Housing and Urban Development Corporation Ltd (HUDCO) has approved plans to raise up to INR 3,000 crore through non-convertible debentures, as confirmed in a recent regulatory filing. The funds will support affordable housing, integrated townships, and key urban infrastructure projects like water supply, roads, drainage, and transport systems. A key lender to state governments and public bodies, HUDCO plays a central role in financing India's urban growth. The debentures are aimed at attracting long-term institutional investors and align with HUDCO's strategy to fund development without impacting equity. This move reinforces its commitment to strengthening infrastructure across rapidly urbanising regions.Read more

18 Jul 2025

Thane's residential property market has recorded a steep 46% surge in average prices over the past three years, with rates reaching INR 19,800 per sq. ft. by the end of Q2 2025. The transformation, driven by infrastructure development and affordability, has seen a 103% spike in new housing supply and 78% rise in absorption since FY 2020. ANAROCK's latest report notes that compact homes, particularly 1BHK and 2BHK units, dominate the market. Approximately 44% of housing falls within the INR 80 lakh to INR 1.6 Cr range, attracting buyers priced out of core Mumbai.Read more

18 Jul 2025

Sunteck Realty Ltd posted a 47% jump in consolidated net profit for Q1 FY26, reaching INR 33.43 crore compared to INR 22.78 crore a year ago. However, total income declined to INR 201.53 crore from INR 328.01 crore in the same period last year. The company continues to centre its operations in the Mumbai Metropolitan Region, where it has delivered several residential and commercial developments. The profit growth amid falling income reflects efficient cost control and potentially better margins on its projects. Sunteck's performance highlights its focus on financial discipline and execution strength within a competitive real estate market.Read more

18 Jul 2025

Smartworks Coworking Spaces Ltd made a confident debut on the stock exchanges this past week, listing at a premium of over 7% compared to its issue price of INR 407. The Gurugram-based company's IPO, which aimed to raise INR 583 crore, received a robust subscription of 13.45 times on the final bidding day, underlining strong investor appetite. The IPO proceeds will primarily be used to expand its flexible office space portfolio and reduce debt. With 48 operational centres and more than 1.9 lakh seats across major Indian cities, Smartworks is positioning itself for accelerated growth in India's evolving office real estate segment.Read more

18 Jul 2025

Real estate developer Kalpataru Ltd witnessed a 42% drop in its consolidated net profit to INR 14 crore during the January-March quarter of FY25, largely impacted by increased expenses. Despite the dip in bottom line, the company's operational momentum remained strong, with revenue from operations rising 21% year-on-year to INR 667 crore. The quarter also saw pre-sales touch an all-time high of INR 1,724 crore, up nearly 79%, with average realisation per square foot improving significantly. Kalpataru ended the full fiscal year with a turnaround, reporting a net profit of INR 21.6 crore compared to a loss in the previous year, supported by a robust project pipeline and a successful IPO.Read more

18 Jul 2025

Embassy Office Parks REIT, India's first publicly listed Real Estate Investment Trust, is reportedly planning a bond sale aimed at raising INR 2,000 crore. This significant financial move is intended to fuel the REIT's strategic expansion, facilitate the acquisition of new properties, and potentially refinance existing debt. The decision reflects confidence in the robust commercial real estate market and the strong performance of its diverse portfolio, which currently boasts high occupancy rates and substantial net operating income, positioning the REIT for continued growth in India's dynamic office space sector.Read more