27 May 2025

Embassy Developments Ltd has raised INR 1,060 crore through the conversion of unlisted warrants into equity shares by its promoter group and Blackstone-affiliated NCL SG Holdings. The promoter entity, Bellanza Developers, received INR 415 crore for 5 crore shares, while NCL SG Holdings invested INR 645 crore for 7.7 crore shares. This capital infusion strengthens Embassy's equity base and supports its operational expansion. The promoter group now holds a 42.96% stake, with Blackstone's entity at 10.93%. Formerly Indiabulls Real Estate, Embassy is known for its residential, commercial, and SEZ projects. The move signals strong investor confidence and positions the company for accelerated growth.Read more

27 May 2025

In a citizen-friendly move, Navi Mumbai Municipal Corporation (NMMC) initiated home delivery of property tax bills for the financial year 2025-26, appointing women from registered self-help groups as temporary municipal representatives. Starting earlier this week, these women began distributing bills and collecting updated contact details from property owners and tenants for digitisation purposes. The Corporation is pushing for seamless tax-related communication through digital channels. Residents are urged to treat the women with courtesy and provide accurate data such as names, mobile numbers, and email IDs. This step aligns with NMMC's broader digital governance agenda.Read more

27 May 2025

The Supreme Court of India dismissed the Finance Ministry's review petition against its October 2024 judgment, which had permitted real estate developers to claim input tax credit (ITC) on construction costs for commercial properties intended for rental purposes. The ruling emphasized that such properties could be classified as 'plant and machinery' under the Goods and Services Tax (GST) Act, thereby qualifying for ITC. This decision is expected to reduce operational costs for developers and tenants alike. However, the Finance Ministry had introduced a retrospective amendment in the Union Budget 2025 to reverse this judgment, leading to ongoing legal debates.Read more

27 May 2025

Max Estates Limited reported a net consolidated profit after tax of INR 13.99 crore for the fourth quarter of FY25, marking a significant turnaround from a loss in the same period last year. The company's total income doubled, driven by strong sales from key projects in Noida and Gurugram. Surpassing its full-year pre-sales guidance, Max Estates achieved over INR 5,300 crore in bookings and is targeting a 15-20% increase in pre-sales for FY26. With several large projects lined up, including a major joint development and the revival of the Delhi One project, Max Estates is set for robust growth supported by strategic investments and approvals.Read more

27 May 2025

Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust supported by related investment funds and automobiles, has purchased PNC Infratech's interest in ten operational road assets. This move marks the first tranche of a larger divestment plan initiated earlier this year, targeting 12 road assets spread across multiple Indian states. The assets sold include major highway and toll projects in Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan. This transaction is in line with PNC's strategic focus on monetising mature assets to reallocate capital into newer infrastructure ventures.Read more

26 May 2025

Suzuki Motorcycle India has commenced work on its second Indian manufacturing facility, located in Kharkhoda, Haryana, with an initial investment of INR 1,200 crore. The 100-acre plant will begin operations in 2027, delivering an annual production capacity of 750,000 units in its first phase and generating employment for around 2,000 people. This strategic expansion aims to address growing domestic demand, reinforce the company's commitment to sustainability, and support regional economic development. The facility will adopt energy-efficient and environmentally conscious practices in line with Suzuki's global carbon neutrality goals.Read more

26 May 2025

The Municipal Corporation of Delhi (MCD) has launched a comprehensive house tax amnesty scheme to help property owners clear long-pending dues. Under the scheme, taxpayers only need to pay the principal property tax for the past five years; all interest and penalties will be waived. Arrears dating back to 2004 will also be forgiven. Applicable to both authorised and unauthorised colonies, the scheme offers a No Objection Certificate (NOC) upon payment, simplifying future property dealings. Available until March next year, it aims to boost compliance among Delhi's 3.5 million properties, where only 1.3 million currently pay taxes, and address revenue shortfalls.Read more

26 May 2025

Schloss Bangalore Ltd, which owns and operates Leela Palaces, Hotels & Resorts, is set to launch what could become the largest IPO in India's hospitality sector. The IPO price band has been fixed between INR 413 and INR 435 per share, targeting total proceeds of INR 3,500 crore. The issue comprises a fresh equity issue of INR 2,500 crore and an offer for sale worth INR 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. Backed by Brookfield Asset Management, the company plans to utilise the funds to reduce debt and support corporate purposes. It operates a luxury portfolio of 12 hotels under the Leela brand and has shown robust financial growth recently.Read more

23 May 2025

Ravi Infrabuild Projects Ltd, a key player in India's civil infrastructure sector, has filed its draft papers with SEBI to raise around INR 1,100 crore through an Initial Public Offering (IPO). The company, which operates primarily on public sector contracts across several states, plans to use the fresh equity infusion to purchase new equipment, repay debts, and invest in subsidiaries. With a healthy order book exceeding INR 3,000 crore and a solid financial performance in the recent fiscal year, this move is positioned to strengthen its balance sheet and support its expansion strategy amid growing infrastructure demand in India.Read more

23 May 2025

A total of seven companies, including Credila Financial Services, Sri Lotus Developers and Realty, and Euro Pratik, have recently received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings. These firms aim to collectively raise at least INR 3,000 crore through a mix of fresh issues and offers for sale. The companies had filed their IPO papers between October 2024 and January 2025, with SEBI issuing its observations earlier this past week. Each firm has detailed specific fundraising objectives, from debt repayment and project financing to marketing and brand enhancement.Read more