06 Jun 2025

The Chandigarh Municipal Corporation (MC) witnessed an unprecedented rise in property tax collection during the recent two-month rebate period, amassing INR 60 crore-marking the highest-ever amount collected under the rebate scheme. This notable growth from the INR 39 crore collected during the same period last year was attributed to the civic body's decision to double property tax rates from April 2025 onwards. Over 65,000 property owners responded proactively, taking advantage of the rebate window. The majority were residential taxpayers, although commercial properties contributed a greater share due to higher tax slabs. The successful outcome was driven by streamlined payment facilities and effective communication by the MC staff.Read more

06 Jun 2025

India's real estate growth is shifting beyond metros, according to BHARAT 2030: The Silent Surge of Tier-II and Tier-III Cities, a report by CII's Ashwinder R. Singh. Cities like Raipur, Belagavi, Salem, Udaipur, Aurangabad, and Ayodhya are emerging as key growth hubs. Driven by rising aspirations, better connectivity, and reverse migration, these regions are becoming vibrant economic centres. Infrastructure-expressways, airports, and metro networks-is now preceding real estate growth. Sectors like EV manufacturing, warehousing, and health-tech are spurring demand for housing. The report urges developers to invest early in affordable housing, plotted developments, and townships. It highlights opportunities for investors beyond traditional markets, supported by local government incentives. This shift promises a more balanced, inclusive urbanisation, with smaller cities poised to shape India's INR 10 lakh crore real estate economy by 2030.Read more

06 Jun 2025

Reliance Infrastructure has fully settled its dues amounting to INR 92.68 crore with Dhursar Solar Power Pvt Ltd towards tariff claims, effectively nullifying the initiation of insolvency proceedings filed against it. The payment was made in line with the Energy Purchase Agreement terms. The National Company Law Tribunal (NCLT) had earlier admitted an insolvency petition filed by IDBI Trusteeship Services Ltd, acting on behalf of Dhursar Solar, due to outstanding dues. Reliance Infra has now announced plans to approach the National Company Law Appellate Tribunal (NCLAT) to withdraw the insolvency order, asserting its redundancy following the settlement.Read more

05 Jun 2025

Embassy Developments Ltd (EDL), post-merger with NAM Estates, reported its first full-year results, posting INR 203 crore PAT and INR 531 crore EBITDA for FY25. The firm recorded INR 2,000 crore in pre-sales, collections, and revenue, with Q4 revenues surging 100% YoY to INR 1,183 crore. EDL now targets INR 5,000 crore pre-sales (+150%), INR 2,200 crore collections, and 10 project launches (GDV INR 22,000 crore) in FY26. FY25 saw 2.2 million sq. ft. in bookings and six acquisitions worth INR 9,200 crore GDV. Strategic moves include a proposed 3.3 million sq. ft. commercial sale to Embassy REIT and a INR 1,125 crore deal with a semiconductor firm in Whitefield. Led by Jitendra and Aditya Virwani, EDL plans to scale across Bengaluru, MMR, NCR, and Chennai, positioning itself as a pan-India real estate leader.Read more

05 Jun 2025

Shapoorji Pallonji Group has completed India's largest private credit financing deal, raising USD 3.4 billion through a three-year zero-coupon bond offering a 19.75% yield. Deutsche Bank led the transaction as sole arranger, investing USD 900 million, with additional participation from global firms like Ares Management, Cerberus Capital, Davidson Kempner, and Farallon Capital, alongside Indian investors ASK Wealth Advisors and EAAA India Alternatives. The funds will primarily refinance existing debt and fuel new investments in real estate and infrastructure. The deal follows the group's strategic consolidation of its property assets under Shapoorji Pallonji Real Estate, now valued at USD 6 billion. The move strengthens the group's financial footing and positions it for agile growth amid India's dynamic real estate sector.Read more

05 Jun 2025

The Indore Development Authority (IDA) will auction 600 flats, 40 shops, and 24 plots, targeting INR 261 crore in revenue, as part of a strategy to fund urban development. The decision, finalised at a recent board meeting led by senior city officials, also advanced several critical infrastructure projects. Approved works include feasibility studies for an elevated corridor from Malwa Mill Square to Rasoma Square, and flyovers at Rasoma Square and Robot Square. Additionally, INR 16.98 crore was allocated to upgrade sewage treatment at Scheme No. 166. Land allotments were made to the Food Corporation of India and the Agricultural Produce Market Committee. The board also approved INR 90 crore for projects like a bridge over the Kanh River and a 34-lakh litre water tank. IDA's combined focus on asset monetisation and infrastructure upgrades aims to support Indore's sustainable urban growth.Read more

05 Jun 2025

Contract manufacturing firm Aequs, known for producing aerospace components and consumer durable goods, has initiated the process for an initial public offering (IPO) aiming to raise around USD 200 million. The firm has chosen the confidential pre-filing route to submit its Draft Red Herring Prospectus (DRHP) to SEBI and the stock exchanges. The IPO will consist of a fresh issue and an Offer for Sale (OFS). The company, which operates manufacturing hubs across India, France, and the USA, has attracted investment from major players like Amicus Capital and Catamaran. Kotak Mahindra Capital, JM Financial, and IIFL Capital are leading the offering.Read more

05 Jun 2025

Emerging diversified construction companies in India are expected to post 9-11% revenue growth this fiscal, according to a recent Crisil report. The sector recorded a 15% CAGR over the past five years, supported by strong order books and timely project execution. However, operating margins are likely to remain constrained at 10-11% due to limited ability to absorb commodity price fluctuations and rising competition. While working capital needs have increased, firms are meeting these requirements through internal cash flows, keeping reliance on bank borrowings low. Capital expenditure for large order execution will involve debt, but robust cash flows should help maintain healthy leverage. Crisil's analysis of 200 firms-contributing INR 1 lakh crore to India's infrastructure spend-highlights steady growth underpinned by government-led infrastructure investments and diversified order books. Profitability, however, will face pressures amid stable subcontracting costs and competitive market dynamics.Read more

04 Jun 2025

India is poised to remain the fastest-growing major economy in FY 2025-26, with projected GDP growth of 6.5%, according to the Reserve Bank of India's (RBI) annual report. The country's GDP is expected to reach USD 4.18 trillion, nearing Japan's economic size. Growth will be driven by robust domestic consumption, rising capital expenditure, and government fiscal support. Strong macroeconomic fundamentals, a resilient financial sector, favourable monsoon forecasts, and low retail inflation (3.16% in April) are expected to boost consumer spending and investment. The RBI also anticipates potential monetary easing to further stimulate growth. Recent income tax relief and increased infrastructure and real estate investment will further support expansion. The report stresses the need for continued policy coordination, structural reforms, and infrastructure development to sustain India's growth momentum, positioning the nation as a key driver of global economic growth.Read more

04 Jun 2025

NBCC India Ltd. posted a robust 29.1% increase in its consolidated net profit for the fourth quarter of the fiscal year 2024-25, reaching INR 182.66 crore compared to INR 141.49 crore in the same quarter last year. The company's total income rose by over 16%, driven by the successful execution of key infrastructure projects. Demonstrating its growth ambitions, NBCC has recently incorporated a wholly owned subsidiary in Dubai to explore real estate opportunities overseas. Additionally, the company has submitted a resolution plan for Celebration City Projects, which could become its subsidiary, expanding its footprint further in the real estate sector.Read more