05 May 2025

Mindspace Business Parks REIT reported a 13% year-on-year increase in net operating income, reaching INR 540 crore for the quarter ended March. The company declared a distribution of INR 392 crore for the same period. For the fiscal year 2024-25, net operating income rose 8.9% to INR 2,061.6 crore, with a distribution of INR 1,312 crore, marking a 15.5% annual growth. The company achieved gross leasing of 2.8 million square feet in Q4, bringing the total for FY25 to 7.6 million square feet. Leadership changes include Ramesh Nair being appointed as CEO and Managing Director for a five-year term, effective immediately.Read more

05 May 2025

The Delhi Development Authority (DDA) has announced plans to allocate two valuable land parcels, one in Nehru Place and another in Dwarka, for the construction of five-star hotels. This move is part of the DDA's strategy to maximise revenue from underutilised land through a 55-year lease arrangement. The land, covering around 2.2 acres in Nehru Place and over 2.5 acres in Dwarka, will be developed according to the Master Plan for Delhi (MPD) 2021 and Unified Building Byelaws 2016. This forms part of DDA's broader development agenda, which includes various commercial initiatives.Read more

05 May 2025

The Prayagraj Municipal Corporation (PMC) has begun levying house tax on approximately 1.25 lakh residential buildings in newly incorporated areas like Naini, Jhunsi, Phaphamau, Jhalwa, and Bamrauli. This marks the first time these zones fall under municipal taxation, as PMC aims to formalise urban expansion and boost revenue. Residents are encouraged to complete a self-assessment process to ensure accurate billing, with physical verification to follow if needed. A 10% rebate is offered for payments made by July 31. This initiative follows low compliance in the previous year and reflects PMC's broader push to integrate peripheral areas and strengthen civic service delivery.Read more

02 May 2025

According to a recent survey conducted by the Ministry of Statistics and Programme Implementation, around 30% of private enterprises have planned to invest in upgrading their operations during FY25. The survey, covering over 3,000 enterprises, indicated a projected capital outlay of INR 6.6 lakh crore for the current fiscal year, with an expected investment of INR 4.9 lakh crore in FY26. The private sector overall capital expenditure has seen a 66.3% rise from FY22 to FY25, and the average gross fixed assets per enterprise have also steadily increased, reflecting a strong and strategic investment sentiment across industries.Read more

02 May 2025

Vishal Mega Mart’s shares surged after it reported an 88% YoY rise in net profit to INR 115.1 crore for the March quarter, driven by strong consumer demand and operational efficiency. Revenue grew 23.2% to INR 2,547.9 crore, while EBITDA rose 42.6% to INR 357 crore, with margins improving to 14%. For FY25, net profit reached INR 631.97 crore on revenue of INR 10,716.35 crore, up 36.8% and 20.2% respectively. With 668 stores, mainly in Tier-II and Tier-III cities, the company is benefiting from demand for affordable retail. Analysts remain bullish, with a ‘Buy’ rating and 16% upside potential.Read more

02 May 2025

According to the Nagpur Municipal Corporation (NMC), 4.26 lakh property owners paid INR 259 crore in property taxes in the fiscal year 2024�2025, excluding INR 50 crore from government agencies. Despite offering rebates for online payments, only 33% of taxpayers utilized digital platforms, contributing INR 88.41 crore. The remaining 67% preferred offline methods, accounting for INR 170.93 crore. Zones like Laxmi Nagar and Mangalwari led in online collections, while areas such as Hanuman Nagar and Nehru Nagar showed higher offline contributions. The NMC faces challenges in bridging the digital divide and improving tax collection efficiency.Read more

02 May 2025

Earlier this week, the Lucknow Municipal Corporation (LMC) concluded its drive offering a 10% rebate to property owners who cleared their tax dues before the end of the month. This incentive was introduced to encourage prompt payments and support ongoing civic development projects. With the deadline now passed, the LMC has revised the rebate structure offering 8% for online payments and 6% for offline ones going forward. To ease the process, the civic body had set up multiple digital and physical channels for tax submission, emphasising the city's shift towards smart and efficient governance.Read more

02 May 2025

Chandigarh residents now have the option to pay their revised property tax at e-Sampark centres using previously received tax bills. The Municipal Corporation has updated its system to reflect the reduced tax rates, allowing payments via debit/credit cards, demand drafts, or at the e-Sampark centres. Taxpayers who pay by May 31 will receive a 20% rebate on residential properties and a 10% rebate on commercial properties. Any excess payments made under previous tax rates will be adjusted in the next financial year.Read more

02 May 2025

The Ahmedabad Municipal Corporation (AMC) has extended its advance property tax rebate scheme until May 30, 2025, following a strong response from taxpayers. The scheme offers rebates of up to 15% for early payments, with additional incentives for online transactions and consistent advance taxpayers. As of late April, over 395,000 residents had contributed approximately INR 482.89 crore in advance taxes, receiving a total rebate of INR 52.78 crore. The west zone led with over 123,000 residents making advance payments totaling INR 123.66 crore.Read more

01 May 2025

The Indian government is moving forward with plans to monetize Bharat Sanchar Nigam Limited's (BSNL) prime land assets, even though the company reported a profit of INR 262 crore in the third quarter of fiscal year 2024-25-the first since 2007. The National Land Monetisation Corporation (NLMC) has initiated the valuation process for approximately 35,591 square metres (8.7 acres) of BSNL's freehold land in five southern cities. This move is part of a broader strategy to reduce the debt of state-run telecom firms and generate resources for BSNL's revival.Read more