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

04 Jun 2025

The Karnataka government will soon implement property tax on unauthorised rural properties under the Karnataka Gram Swaraj and Panchayat Raj (Amendment) Bill, 2025. Detailed guidelines are expected by mid-July. The move aims to bring nearly 95 lakh rural properties under formal governance and taxation. Over 50 lakh rural properties already have e-khatas, generating INR 1,273 crore in revenue this fiscal year. Minister Priyank Kharge highlighted that the initiative will boost local revenues and improve services like water, sanitation, and roads. Inspired by the success of Karnataka's B-Khata system in urban areas, the rural framework seeks to regularise informal landholdings and strengthen Panchayat finances. The upcoming guidelines will outline tax assessment, exemptions, and regularisation processes. This initiative supports Karnataka's broader push for decentralised, equitable development and aims to enhance infrastructure and civic services across rural regions.Read more

03 Jun 2025

MedSpark Medical Devices Park, located within Kerala's Life Science Park at Thonnakkal, represents a major stride in India's pursuit of self-reliance in the medical device sector. A joint venture between SCTIMST and KSIDC, this initiative targets the high-risk medical device market, including implants and extracorporeal devices. With an investment of INR 230 crore, partly funded by the state and central governments, MedSpark offers a cutting-edge ecosystem supporting R&D, testing, manufacturing, and incubation. Building on Kerala's existing medical device landscape, the park is projected to create over 1,200 direct and up to 5,000 indirect jobs, bolstering innovation and affordability in healthcare nationwide.Read more

03 Jun 2025

As of March 31, 2025, NDR InvIT Trust, India's first perpetual warehousing and industrial park InvIT, reported a 13.32% rise in assets under management (AUM), reaching 19.22 million sq. ft. The Trust expanded its footprint from 13 to 15 cities, now operating 37 industrial parks and over 60 warehouses nationwide. About 33% of rental income comes from its top 10 clients, with just 11.26% of leases up for renewal in H2 FY26, ensuring stable revenues. FY25 revenue stood at INR 3,241.10 million, with Q4 revenue at INR 945.38 million. The NAV per unit was INR 135.52. A Q4 distribution of INR 1.80 per unit was declared, with a record date on or before June 4, 2025. CFO Sandeep Jain highlighted FY25's portfolio growth, strong occupancy, and investor returns. The Trust remains focused on strategic acquisitions and sustainable expansion in India's logistics sector.Read more

03 Jun 2025

RDB Infrastructure and Power Ltd has reported a turnaround in its financial performance for the March quarter, registering a net profit of INR 1.15 crore. This recovery comes on the back of a disciplined cost-control strategy, reversing the loss of INR 8.69 lakh reported in the fourth quarter of FY24. Although the company's revenue declined to INR 21.82 crore from INR 36.84 crore in the corresponding quarter of the previous fiscal, the drop in expenses to INR 20.13 crore from INR 36.91 crore significantly contributed to the bottom-line improvement. The results reflect the company's focus on maintaining operational efficiency amid challenging market conditions.Read more

03 Jun 2025

The Brihanmumbai Municipal Corporation (BMC) rcently confirmed that property tax rates have not increased; the rise in tax bills stems from updated ready reckoner (RR) rates for FY 2025-26. RR rates, revised for the first time in a decade, set minimum property values for taxation. An average 15.89% uptick in tax bills is also due to a statutory capital value revision under Section 154(1)(c) of the Mumbai Municipal Corporation Act-last updated in 2015, with the 2020 revision delayed due to COVID-19. The BMC also announced a temporary suspension of solid waste management fees after intervention by Maharashtra's Chief Minister and Deputy CM. Residential units under 500 sq. ft. remain exempt from property tax. As civic elections approach, property tax policies and enforcement could become a key issue, with public focus on fairness and accountability in Mumbai's civic administration.Read more

03 Jun 2025

Embassy Developments Ltd is considering the sale of a key commercial project in Whitefield, Bengaluru, valued between INR 3,200 crore and INR 3,700 crore. The 3.3 million sq. ft. project may be offered to Embassy Office Parks REIT, pending shareholder and regulatory approvals. The move aligns with Embassy's portfolio monetisation and REIT-focused strategy. The company, formerly Indiabulls Real Estate, reported a consolidated net profit of INR 122.98 crore for Q4 FY25, reversing a loss of INR 99.21 crore year-on-year. Quarterly income rose to INR 1,182.61 crore, while full-year FY25 net profit reached INR 193.63 crore, compared to a prior loss of INR 517.39 crore. Annual income also doubled to INR 2,546.97 crore. Embassy's potential collaboration with its REIT platform underscores the industry's growing shift towards asset optimisation and structured exits in India's commercial real estate market.Read more

02 Jun 2025

Marwadi Chandarana Intermediaries Brokers, part of the diversified Marwadi Chandarana Group (MCG), announced its acquisition of a 75% stake in TruCap Finance, a non-banking financial company (NBFC), through a deal worth INR 207 crore. The investment, revealed earlier this week, comprises a preferential allotment of equity shares, convertible warrants, and the secondary purchase of 3.68 crore shares from TruCap's existing promoter group. With this move, MCG is set to become the new promoter, effectively phasing out the existing promoter group's shareholding. This strategic step has also triggered an open offer under SEBI regulations.Read more

02 Jun 2025

India's mining and construction equipment (MCE) sector is poised for a major leap, with projections indicating a growth from its current USD 16 billion valuation to USD 45 billion within the next five years. This forecast comes from a recent Vision Report jointly released by the Confederation of Indian Industry (CII) and global consultancy Kearney. The report lays out an ambitious Vision 2030 plan, positioning India as a global hub in the MCE industry. With India already the fastest-growing market among the top six global economies, surpassing even the US, Germany and Japan, this trajectory is expected to significantly enhance national GDP and employment.Read more

02 Jun 2025

Reliance Infrastructure Ltd (RInfra) reported a strong financial turnaround earlier this week, posting a net profit of INR 4,387 crore for the March quarter, compared to a net loss of INR 220.58 crore in the same period last year. The significant improvement was largely attributed to a substantial reduction in overall expenses. Although the company's total income saw a dip, strategic cost management played a pivotal role in boosting profitability. For the full financial year, RInfra posted a net profit of INR 4,937.52 crore, reversing the previous year's loss. Notably, the company confirmed zero standalone net debt and a surge in consolidated net worth.Read more