6 minutes ago

Delhi’s Indira Gandhi International Airport (IGIA) is planning to increase its annual passenger handling capacity from 106 million currently to 125 million under a proposed 10-year master plan extending to 2036. Delhi International Airport Ltd (DIAL) plans to raise capacity to 116 million by April 2030 and subsequently to 125 million by 2032. The expansion includes a proposed Pier E at Terminal 3 (T3), with capacity for 10 million passengers, targeted for completion by April 2030. Decisions on a fourth terminal and an Automated People Mover remain pending, although the master plan is expected to earmark a 7.5-kilometre right of way for an APM system. The airport handled 6 million passengers in July, while traffic during FY2026-27 up to July stood at 26.4 million.Read more

Mumbai News Desk

36 minutes ago

The Brihanmumbai Municipal Corporation’s Improvement Committee has approved the lease of about 15 acres of reclaimed land at the former Mulund dumping ground to Navbharat Mega Developers Pvt Ltd, the special purpose vehicle implementing the Dharavi Redevelopment Project. The five-year lease will allow the company to establish a casting yard, precast element manufacturing facility and ready-mix concrete plant for the redevelopment works. The proposal had earlier faced objections over environmental and civic concerns, but was cleared by the panel on August 14 following further consideration. The BMC is expected to receive about INR 103.47 crore in gross rent.Read more

1 hour ago

Finance Minister Nirmala Sitharaman said the government will soon constitute a high-level committee on Banking for Viksit Bharat to prepare a roadmap for the banking sector to support India’s development goals. The panel was proposed in the Union Budget to comprehensively review the sector while maintaining financial stability, inclusion and consumer protection. The announcement came during the two-day PSB Confluence, where public sector banks and financial institutions discussed deposit mobilisation, youth banking, investment financing, global capability centres, agriculture infrastructure, credit cards and priority sector lending.Read more

Mumbai News Desk

1 hour ago

The Brihanmumbai Municipal Corporation’s Improvement Committee has approved a 30-year lease of about 25,543 sq m of its Century Mills land in Lower Parel to Peddar Realty Ltd for redevelopment at a consideration of INR 1,321 crore. The agreement includes an option to extend the lease by another 30 years. The proposal concerns an existing mill workers’ colony comprising 23 buildings, 476 residential tenements and 10 shops. Eligible occupants are to be rehabilitated as part of the redevelopment. The approval faced opposition from Shiv Sena (UBT) and Congress members over the terms and proposed use of the civic land.Read more

2 hours ago

Hazoor Multi Projects Ltd has secured a INR 28.47-crore contract from the National Highways Authority of India (NHAI) to operate as the user fee collection agency at Madangundi Fee Plaza on NH-31 in Jharkhand. The order was awarded through the e-tender process, according to a regulatory filing by the company. The project is located at kilometre 12.3 of the highway and has a tenure of 12 months. NHAI issued the Letter of Award to Hazoor Multi Projects for the user fee agency engagement. The company operates across renewable energy and infrastructure, including road construction projects undertaken on an engineering, procurement and construction (EPC) basis. The contract adds a highway-related assignment to the company's existing activities in the infrastructure and energy sectors.Read more

Hyderabad News Desk

2 hours ago

Hundreds of properties in Hyderabad’s Jubilee Hills and Banjara Hills have been included in Telangana’s prohibited properties list under Section 22-A of the Registration Act, restricting owners from registering, selling or transferring their holdings. The inclusion forms part of a wider revision of prohibited-property records following directions from the Telangana High Court and has affected established residential plots, houses, apartments and housing societies. Owners have questioned the classification of properties with longstanding ownership and registration records. The exercise has also affected properties across Greater Hyderabad, prompting representations seeking correction or removal from the restricted list.Read more

3 hours ago

Kerala is set to begin full export-import operations at Vizhinjam International Seaport, moving the facility beyond its existing transshipment role. The launch will take place alongside Mission Samudra, a state-backed port-led industrial and logistics development programme supported by a INR 400 crore catalytic fund. The mission will cover eight industrial clusters, three new cities and the state’s 600-kilometre coastline. Direct cargo movement through Vizhinjam is expected to reduce transit time and logistics costs while supporting exports, warehousing, cold storage, logistics parks and employment across Thiruvananthapuram and neighbouring districts.Read more

3 hours ago

India’s six listed Real Estate Investment Trusts (REITs) collectively distributed INR 3,136 crore to more than 4.85 lakh unitholders during the June quarter of FY27, according to data from the Indian REITs Association (IRA). The listed trusts covered by the data are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, Knowledge Realty Trust and Bagmane Prime Office. The distribution was more than double the INR 1,559 crore paid by four listed REITs during the corresponding quarter a year earlier. Knowledge Realty Trust and Bagmane Prime Office were listed subsequently. Since inception, the six REITs have cumulatively distributed more than INR 34,800 crore. Their combined gross assets under management stood above INR 3.17 lakh crore as of June 2026.Read more

4 hours ago

The Trump administration has asked the US Supreme Court to allow construction of a USD 400 million ballroom at the White House to continue while it prepares a full appeal against a lower court ruling. The US Court of Appeals for the District of Columbia Circuit had ordered a halt to above-ground construction, saying the project required congressional approval. The administration has argued that the project is necessary for national security and forms part of an integrated secure complex. The National Trust for Historic Preservation, which challenged the project, has urged the Supreme Court to reject the administration’s request.Read more

4 hours ago

The Punjab and Haryana High Court has directed the Haryana government’s urban local bodies department and the Municipal Corporation of Gurugram (MCG) to prepare a standard operating procedure and fixed timelines for removing debris after civic works. The court’s direction came during a petition concerning the delay in clearing road debris and the difficulties faced by residents. The court observed that people should not have to repeatedly approach the judiciary for basic civic issues such as road clearance. The proposed framework is expected to establish clear responsibility and ensure that debris is removed within a defined period after work is completed.Read more

5 hours ago

More than half of the 128 ready-to-move-in flats offered under the Delhi Development Authority’s (DDA) Karmjeevan Awas Yojana 2026 were booked on the first day, with 66 units sold, according to the authority. The scheme, launched on the occasion of India’s 80th Independence Day, offers homes in Pocket-II, Sector A6-A4, Narela at a 25% discount. The strongest demand was recorded for one-bedroom units, which were completely booked within hours, while two- and three-bedroom flats also attracted buyers. Discounted prices start at INR 33.40 lakh for one-bedroom units, INR 75.55 lakh for two-bedroom homes and INR 1.085 crore for three-bedroom units. The DDA said the scheme is aimed at government employees, working professionals and other eligible groups seeking relatively affordable home ownership in Delhi.Read more

5 hours ago

Kolkata Metro Railway plans to expand its rapid transit network to around 130 km in the coming years, according to General Manager Prem Sagar Gupta. The expansion was highlighted during the organisation’s Independence Day address at Metro Rail Bhavan, alongside details of passenger traffic, earnings and digital ticketing adoption. The network carried 23.60 crore passengers during FY26, underlining its role in Kolkata’s public transport system. Metro Railway also recorded earnings of INR 166 crore between April and July 2026, representing a 34% year-on-year increase. The organisation is simultaneously focusing on safety, passenger amenities and service reliability. Digital payment adoption has also increased, with commuters using electronic modes for tokens, smart cards, QR-code tickets and smart-card recharges through the Aamar Kolkata Metro app.Read more

6 hours ago

The Uttar Pradesh government has approved INR 8.99 crore for installing 1,342 CCTV cameras at 296 key traffic junctions across 51 districts. The project is aimed at improving road safety, monitoring traffic violations and strengthening enforcement in locations that are not covered by the Integrated Traffic Management System or Smart City surveillance projects. The network will include Automatic Number Plate Recognition and pan-tilt-zoom cameras, along with recording and supporting equipment. The state has directed the Uttar Pradesh Police headquarters’ traffic and road safety wing to complete the procurement process, with the sanctioned funds to be utilised by March 2027.Read more

6 hours ago

Kerala has approved implementation of the second phase of the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0), under which around 30,000 eligible beneficiaries are expected to receive housing assistance. The state Cabinet cleared the scheme in line with the Centre’s eligibility criteria, with Kerala set to sign a memorandum of understanding with the Union government to secure INR 450 crore in central assistance. Under the revised funding structure, each homeless beneficiary will receive total assistance of INR 4 lakh, comprising INR 1.50 lakh from the Centre and INR 1 lakh from the state, with the balance shared by the municipality and beneficiary. Beneficiaries will also be required to bear 25% of the total project cost. The second phase will begin as the existing PMAY-Urban LIFE phase is scheduled for completion by 30 September 2026.Read more

7 hours ago

Prime Minister Shri Narendra Modi said India has begun semiconductor production at three plants, with another five to eight facilities expected to be established over the next seven to eight years. Speaking from the Red Fort on the 80th Independence Day, Modi highlighted semiconductor manufacturing as an important component of India’s push for greater technological self-reliance. Semiconductor chips are critical to sectors including electronics, healthcare, transport and other modern technologies. The prime minister said India had discussed developing domestic semiconductor manufacturing capacity for years but lacked large-scale production facilities. He said the government had since taken steps towards building self-reliance in the sector, with semiconductor exports already beginning. The planned expansion is expected to strengthen India’s broader objectives of Aatmanirbhar Bharat and Viksit Bharat.Read more

7 hours ago

Union Minister H D Kumaraswamy has urged Karnataka Chief Minister D K Shivakumar to take over the Bengaluru-Mysuru Infrastructure Corridor Project (BMICP), implemented by Nandi Infrastructure Corridor Enterprises (NICE), and immediately stop toll collection on the roads. In a seven-page letter sent to Shivakumar on August 15, Kumaraswamy cited observations made by the Karnataka High Court regarding alleged irregularities in the project’s implementation and sought corrective action by the state government. NICE currently operates a 41-kilometre peripheral road and a 10-kilometre link road in Bengaluru, on which tolls are collected. Kumaraswamy has also called for legislation to formally take over the project, citing alleged violations of the Framework Agreement and Project Technical Agreement. The Chief Minister said the government would examine the matter and act in accordance with the law.Read more

8 hours ago

Prime Minister Narendra Modi said India’s solar power capacity has increased from 2 GW in 2014 to 160 GW, while the country is targeting 500 GW of renewable energy capacity by 2030. In his Independence Day address, he highlighted measures aimed at strengthening energy security as electricity demand rises across sectors including semiconductors, artificial intelligence and data centres. Modi said 50 lakh households have been covered under the PM Surya Ghar Muft Bijli Yojana, with eligible beneficiaries receiving subsidies of up to INR 80,000 for rooftop solar installations. He also outlined developments in railway electrification, hydrogen trains and nuclear energy, including a target of 100 GW of nuclear power by 2047. The government has additionally allocated INR 85,000 crore for oil and gas exploration in offshore no-go areas.Read more

8 hours ago

The Allahabad High Court has sought point-wise responses from the Centre and Uttar Pradesh government over a Public Interest Litigation alleging that the newly opened Lucknow-Kanpur Expressway developed potholes and suffered damage at 74 locations within 26 days of becoming operational. A bench comprising Justices Rajan Roy and Manjive Shukla directed the Ministry of Road Transport and Highways, National Highways Authority of India (NHAI) and Uttar Pradesh transport department to respond to the allegations. The petition concerns an expressway constructed at an estimated cost of INR 4,700 crore and alleges large-scale corruption in its construction. The petitioner has sought an independent investigation under the supervision of a retired Supreme Court or High Court judge or by an agency such as the Central Bureau of Investigation. The PIL has also challenged the toll rates being charged on the expressway.Read more

18 Aug 2026

New Zealand’s central bank has decided to maintain its existing mortgage loan-to-value ratio rules after reviewing housing market conditions and financial stability risks. The Reserve Bank of New Zealand’s Financial Policy Committee assessed house prices, the financial pressure on existing borrowers, recent lending activity and the resilience of the banking system before keeping the rules unchanged. Under the current settings, banks can allocate up to 25% of new lending to owner-occupiers with loan-to-value ratios above 80%, while up to 10% of new investor lending can have ratios above 70%. The decision keeps borrowing conditions unchanged for now.Read more

Delhi News Desk

18 Aug 2026

Delhi’s Master Plan 2047, approved by the Delhi Development Authority (DDA) and sent to the Centre, has divided the 9,934-hectare Yamuna O-Zone into two regulatory areas even as the National Green Tribunal’s scientific demarcation of the one-in-100-year floodplain remains incomplete. Zone I covers the 6,295-hectare riverbed and one-in-25-year floodplain, while Zone II covers the outer one-in-100-year floodplain. The plan proposes recreational facilities, including a 52-km cycle track, in Zone II. The NGT has directed that the floodplain’s outer boundary be identified using the one-in-100-year flood level and one-metre contours. DDA had sought additional time after the demarcation exercise stalled following receipt of a revised map from Delhi’s Irrigation and Flood Control Department. Experts and environmentalists have questioned the scientific basis and implications of the proposed zoning.Read more

18 Aug 2026

The Maharashtra Cooperation Department has released the draft Model Bye-Laws 2026 for cooperative housing societies and invited suggestions and objections from societies and other stakeholders before finalising the framework. A consultation on the draft was held in Pune on August 13 under Cooperation Commissioner Deepak Taware, with department officials and representatives of the Maharashtra State Cooperative Housing Federation participating. The proposed framework addresses several areas affecting housing societies, including redevelopment, maintenance and service charges, parking, electric vehicle charging, digital records, governance and dispute resolution.Read more

18 Aug 2026

Cosmic Solar EPC Private Limited, a wholly owned subsidiary of Cosmic PV Power Limited, has secured three solar engineering, procurement and construction (EPC) project orders worth a combined INR 574 crore. The company announced the order wins alongside the commencement of operations at its new corporate office in Chembur, Mumbai, and the appointment of Avi Mittal as chief executive officer, effective August 2026. The Mumbai office will serve as a base for business development, customer engagement, project management and partnerships across western and central India, complementing the company’s registered office in Surat, Gujarat. Cosmic Solar EPC provides rooftop solar EPC services for commercial, industrial and residential projects. Its parent company is also developing a 1.1 GW solar cell manufacturing line in Madhya Pradesh.Read more

18 Aug 2026

A magnitude 5 earthquake struck Granada in southern Spain in the early hours of Saturday, damaging some houses and cars, according to the Andalusian regional government. The earthquake hit the metropolitan area of Alhendin shortly after 1 a.m. Emergency services rescued several people from damaged buildings, while no injuries were reported. Images broadcast by Spanish television showed debris on streets and damage to vehicles in the popular tourist city. Authorities also confirmed that the Alhambra palace, one of Granada’s best-known historic landmarks, was not damaged by the earthquake.Read more

18 Aug 2026

Lodha Developers plans to launch 21 housing projects by March 2027, with an estimated revenue potential of INR 24,000 crore, as the developer prepares a larger project pipeline across key markets. The company’s planned launches include seven new projects spanning 5.9 million sq. ft. across the Mumbai Metropolitan Region, Delhi-NCR, Pune and Bengaluru, with a combined revenue potential of INR 9,850 crore. It will also introduce new phases across 14 existing projects covering 9.7 million sq. ft. and carrying an estimated revenue potential of INR 14,210 crore. The planned launches are intended to support the company’s INR 24,000-crore sales bookings target for FY2026-27. Lodha recorded sales bookings of INR 4,630 crore in the April-June quarter, while net profit doubled year-on-year to INR 1,373.1 crore.Read more

18 Aug 2026

Infrastructure major Larsen & Toubro (L&T) has secured a mega order valued between INR 10,000 crore and INR 15,000 crore to establish an artificial intelligence infrastructure facility at its Chennai data centre campus. The project marks L&T’s entry into the AI Factory business and will be developed through LTN Compute and Vyoma.AI for US-based Together AI. The facility will use NVIDIA B300 GPUs and have capacity for 10,000 GPUs, supporting large-scale AI inference, fine-tuning and training workloads. Vyoma’s Chennai campus is planned as a gigawatt-scale AI infrastructure site, with Phase 1 designed for 250 MW and 150 MVA of power infrastructure readiness. The integrated facility will combine data centre infrastructure, accelerated computing, high-performance networking, storage and AI infrastructure operations.Read more

18 Aug 2026

Nagpur Metro Phase II has entered the track-laying stage, with MahaMetro completing around 2 kilometres of track on the Kamptee stretch of Reach-2. The development marks the transition of completed viaduct sections from civil construction to railway systems work. MahaMetro has introduced a redesigned track fastening system that has received approval from the Research Designs and Standards Organisation (RDSO). The system uses a smaller base plate, a two-hole fastening arrangement and double rubber pads aimed at reducing construction costs and vibrations. Track laying on other reaches will follow as more viaduct sections become ready.Read more

18 Aug 2026

Shiprocket Ltd’s INR 1,617.5-crore initial public offering (IPO) received an overwhelming response from investors, with the issue subscribed 99.38 times by the close of bidding. The company received bids for more than 938.51 crore shares against 9.44 crore shares on offer, according to NSE data. Qualified institutional buyers led the demand with a 122.80-times subscription, while non-institutional investors and retail investors subscribed 88.99 times and 46.42 times, respectively. The company had raised INR 727.41 crore from anchor investors before the public issue opened.Read more

18 Aug 2026

Arab Development and Real Estate Investment reported a net loss after tax of EGP 1.9 million for the first half of 2026, while revenue stood at EGP 4.1 million. The company operates in Egypt’s real estate sector and is listed on the Egyptian Exchange’s SME market. Its latest results come after a profitable 2025, when the company recorded net profit of EGP 12.7 million. However, earnings had already weakened in the first quarter of 2026, when net profit fell 60.3% year-on-year and revenue declined to EGP 1.607 million.Read more

18 Aug 2026

The Enforcement Directorate (ED) conducted searches at multiple locations across Delhi-NCR as part of a money laundering investigation into alleged cheating of homebuyers through subvention schemes. The investigation concerns real estate companies AVJ Developers (India) and Rudra Buildwell Construction and stems from two separate FIRs registered by the Central Bureau of Investigation (CBI). According to officials, the alleged arrangement involved a nexus between builders and banks under which homebuyers were offered a ‘No EMI till possession’ scheme. Buyers obtained housing loans and booked flats or apartments in the developers’ projects, but possession was allegedly not handed over even after several years. The ED’s investigation is being conducted under the Prevention of Money Laundering Act (PMLA).Read more

18 Aug 2026

Delhi is set to develop Anand Vihar, Kashmere Gate and Sarai Kale Khan as multi-modal transport hubs to integrate different public transport systems and improve passenger connectivity across the capital. The three locations are being planned as key interchange points linking metro services with railways, interstate bus services and other modes of urban transport. The initiative is part of efforts to improve integration between Delhi’s major transport networks and facilitate smoother passenger movement between terminals and services. The hubs are expected to consolidate transport infrastructure at the three locations while improving interchange facilities for commuters. The plan involves coordination among multiple agencies responsible for Delhi’s transport and urban infrastructure, with the proposed hubs intended to support more seamless movement across the city’s major transport corridors.Read more

18 Aug 2026

Smartworks Coworking Spaces Ltd is adding 176,285 square feet of coworking capacity in Pune with an investment of INR 280 million. The addition is expected to further increase the company’s operational footprint in the city as demand for flexible and managed office space continues to grow. Smartworks had about 10.4 million square feet of operational space across 54 centres in 15 cities at the end of June, while its total footprint stood at around 16.9 million square feet. The company has also recently expanded its Pune operations through new enterprise client engagements.Read more

18 Aug 2026

MahaMetro has resurfaced Nagpur’s Wardha Road double-decker flyover after potholes and rough patches affected the ride quality for commuters. The repair followed reports highlighting the deteriorating condition of the city’s double-decker flyovers, particularly around the Ajni and Airport Square approaches and exits. The Wardha Road structure, which combines a road flyover and Metro viaduct, was opened in 2020 and continues to be maintained by MahaMetro. The repair also comes as both the Wardha Road and Kamptee Road structures are expected to eventually be handed over to the Nagpur Municipal Corporation.Read more

18 Aug 2026

Arihant Foundations & Housing Ltd reported a consolidated net profit of INR 240.9 million, or INR 24.09 crore, for the June quarter, according to the company’s latest financial update. Consolidated revenue from operations stood at INR 1.34 billion, or INR 134 crore. The company had reported consolidated revenue of INR 84.89 crore and net profit of INR 16.35 crore in the corresponding quarter of the previous financial year. Arihant operates in residential and commercial real estate development, with its portfolio focused largely on Chennai and surrounding markets.Read more

18 Aug 2026

China’s new home prices remained under pressure in July as weak demand continued to affect the property market. New home prices fell 0.1% from the previous month, while the annual decline narrowed slightly to 3.2% from 3.3% in June, according to Reuters calculations based on National Bureau of Statistics data. Only 17 of 70 surveyed cities recorded monthly price increases. Property sales, investment and new construction starts also declined at a faster pace during the first seven months of the year. Local governments continue to introduce measures to support housing demand, but a broad recovery remains uncertain.Read more

Delhi News Desk

18 Aug 2026

Delhi Chief Minister Smt Rekha Gupta inaugurated a two-lane slip road bridge connecting Ghazipur in East Delhi with the Hindon Canal on Thursday. The bridge is intended to improve road connectivity for residents of Kondli, Kalyanpuri, Ghazipur and surrounding areas, while easing traffic pressure and reducing commuting time. Delhi Public Works Department Minister Parvesh Sahib Singh said the project had remained incomplete for six years because of pending issues, including payment to the contractor, before the BJP government cleared the matters and completed the work. Union Minister of State for Road Transport and Highways and East Delhi MP Harsh Malhotra said the bridge over a large drain would improve connectivity for residents of Trilokpuri, Kondli and Patparganj assembly constituencies. The government also said the Barapulla flyover, under construction for 10 years, had been completed and would be inaugurated soon.Read more

18 Aug 2026

The Securities and Exchange Board of India (SEBI) has revised the framework for calculating net distributable cash flow (NDCF) for Infrastructure Investment Trusts (InvITs), allowing payments towards major maintenance expenses of road projects funded through external debt to be added back while calculating NDCF. The provision applies at both the special purpose vehicle (SPV)/holding company and trust levels. The regulator has, however, linked the benefit to project-level unitholder approval, auditor certification and detailed disclosures. The move follows industry requests for a change in the treatment of debt-funded major maintenance costs under the existing NDCF framework.Read more

18 Aug 2026

A state-wide inspection by the Maharashtra Food and Drug Administration has led to the suspension of licences of 14 food business establishments linked to Blinkit, Zepto, Instamart and other operators after serious food safety and hygiene violations were found. The drive covered 86 facilities across Maharashtra and examined storage, temperature control, cleanliness, pest management and compliance with food safety norms. While no licence was cancelled, the FDA issued 60 improvement notices and temporarily halted operations at one delivery facility until deficiencies are corrected.Read more

18 Aug 2026

China and Hong Kong equities declined as investors turned cautious ahead of Unitree Robotics’ closely watched Shanghai IPO and a series of interim earnings results. Weakness in the property sector added pressure, with real estate stocks among the leading decliners in mainland China and CK Asset falling sharply in Hong Kong after it did not announce a special dividend despite stronger interim earnings. Tightening liquidity, concerns over domestic demand and China’s widening cross-border tax collection also affected sentiment. Technology stocks were mixed, while rare-earth shares and some communications stocks performed better.Read more

18 Aug 2026

Actor Ajay Devgn and his mother, producer Veena Devgan, have leased a bungalow in Mumbai’s Juhu for five years, with the total rental value estimated at INR 10.61 crore. The property, located in Kapol Co-operative Housing Society, has a built-up area of around 7,803 square feet. The monthly rent starts at INR 16 lakh and will increase by 5% every year, reaching about INR 19.45 lakh in the fifth year. The registered agreement also includes an INR 48 lakh security deposit, with stamp duty and registration charges paid as part of the transaction.Read more

18 Aug 2026

India’s security infrastructure is increasingly relying on connected surveillance systems that combine cameras with power backup, communications, connectivity, monitoring and maintenance. Brihaspathi Technologies has worked on surveillance projects for the Border Security Force (BSF) across sensitive border locations as well as for the Visakhapatnam City Police Commissionerate. The BSF deployment covered Berhampore, Malda and Jaisalmer and involved IP-based CCTV systems supported by power and communication infrastructure. The Visakhapatnam project focused on CCTV coverage at strategic locations within the Steel Plant Police Station jurisdiction under the RINL-CSR initiative.Read more

18 Aug 2026

Brigade Enterprises reported a 37 per cent year-on-year rise in consolidated net profit to INR 216.94 crore in the first quarter of FY27, compared with INR 157.95 crore in the corresponding quarter of the previous fiscal year. However, consolidated total income declined 11.5 per cent to INR 1,179.22 crore from INR 1,332.86 crore. The company recorded overall sales of INR 1,061 crore during the quarter, while average sales realisation rose 21 per cent to INR 14,256 per square foot. Its real estate and leasing businesses also reported growth in key operating parameters.Read more

18 Aug 2026

Nexent Capital IFSC Private Limited, the GIFT City-based arm of US-based Nexent Capital Management, has received registration from the International Financial Services Centres Authority (IFSCA) to operate as an investment banker within India’s International Financial Services Centre. Granted on July 31, 2026, under the IFSCA (Capital Market Intermediaries) Regulations, 2025, the registration allows the firm to undertake regulated investment banking activities from GIFT City. Its permitted services include IPOs, FPOs, SPAC listings, secondary listings, depository receipt issuances, debt capital market transactions and other capital market advisory mandates. The firm plans to expand its cross-border investment banking platform, focusing particularly on companies from the US and Europe seeking capital raising and listing opportunities through GIFT City.Read more

18 Aug 2026

A home loan is often viewed as a long-term financial burden, but for many Indian families, it has become the foundation of substantial wealth. The difference wasn't just buying a house, it was making smarter borrowing and investment decisions along the way. From choosing growth corridors and prepaying strategically to resisting the urge to overspend, these habits have helped ordinary homeowners build properties worth several crores over time. Here are 10 lessons inspired by the home loan decisions that have quietly created wealth across generations.Read more

18 Aug 2026

Arrow Exploration Corp. has acquired a producing oil property in Thorsby, Central Alberta, giving it a 100% working interest in an asset producing around 550 barrels of oil equivalent per day. The acquisition, valued at CAD 12.15 million, or approximately USD 8.9 million, has been funded from the company’s cash reserves. The property generated about CAD 2 million in operating income over the past 12 months and has 4.973 million boe of proved reserves and 7.537 million boe of proved plus probable reserves.Read more

18 Aug 2026

Maharashtra Chief Minister Devendra Fadnavis has acknowledged serious infrastructure problems in Pune district’s Chakan industrial belt and said the state government is working on a coordinated mechanism to address them. The issue has gained attention after 20 small-scale companies said they plan to shift operations to the Khandala industrial belt in Satara district, citing traffic congestion and poor infrastructure. NCP (SP) chief Sharad Pawar has also raised concerns over roads, pollution, water supply, electricity and traffic in Chakan. Fadnavis said the Pune district collector would coordinate with agencies involved in the area to resolve the issues.Read more

18 Aug 2026

The Ministry of Housing and Urban Affairs (MoHUA) utilised 99.78% of its revised budget allocation during 2025-26, spending INR 57,075.19 crore against a revised estimate of INR 57,203.78 crore, according to a parliamentary panel report. Scheme-level expenditure stood at INR 52,978.83 crore against the revised estimate of INR 53,096.53 crore. Metro and MRTS projects recorded full utilisation of INR 29,451 crore, while PMAY-Urban and PMAY-Urban 2.0 saw expenditure of INR 8,948.82 crore, representing 99.84% utilisation. AMRUT recorded 99.68% utilisation and Swachh Bharat Mission-Urban 97.27%. However, the parliamentary committee raised concerns over schemes that remained unspent and called for more realistic budget estimates and timely implementation of approved programmes.Read more

18 Aug 2026

The Construction Federation of India (CFI) has called for greater attention to project preparation, technical expertise, quality-based procurement and long-term asset performance as India expands its infrastructure network. CFI President M. V. Satish said the next phase of development should focus on building infrastructure that is safer, more durable and capable of performing over its full lifecycle. The industry body highlighted gaps in site investigations, detailed project reports, utility mapping, risk assessment and maintenance, while also stressing that technologies such as BIM, GIS, LiDAR, drones, digital twins and AI should support engineering expertise rather than replace it.Read more

18 Aug 2026

Shriram Properties reported a 46% year-on-year decline in consolidated net profit to INR 11.04 crore for the quarter ended June 30, 2026, compared with INR 20.59 crore in the corresponding period a year earlier. The decline was primarily attributed to higher expenses, with operational costs and tax outgo increasing during the April-June quarter, while the company also recorded losses from joint venture projects. Total income increased marginally to INR 271.04 crore from INR 261.54 crore. Despite the decline in profit, sales bookings rose 10% to INR 484 crore during the quarter. The developer has a presence in Bengaluru, Chennai, Pune and Kolkata, with 52 delivered projects covering more than 32.9 million sq ft. As of June 30, its pipeline comprised 41 projects with an aggregate development potential of 33.7 million sq ft.Read more

18 Aug 2026

Heavy widespread rainfall disrupted road connectivity across Himachal Pradesh on Wednesday, with 313 roads, 65 water supply schemes and 112 transformers affected, according to the State Emergency Operation Centre (SEOC). Mandi recorded the highest number of road closures at 117, followed by Chamba with 74, Kullu with 60 and Shimla with 36. Other affected districts included Sirmaur, Kangra, Una, Kinnaur and Lahaul-Spiti. The disruption came as the weather department forecast a wet spell in the state until August 17 and issued a yellow warning for heavy rainfall in isolated areas until August 18. Since the onset of the monsoon on June 30, rain-related incidents have claimed 70 lives and caused estimated losses of INR 910 crore across the state.Read more

18 Aug 2026

Swedish construction company Skanska has secured a USD 957 million contract from the Los Angeles County Metropolitan Transportation Authority for the East San Fernando Valley Light Rail Transit Project in Van Nuys, California. The project covers a 10.8-kilometre at-grade light rail line, a 10.5-hectare rail and maintenance facility and 11 new stations. Construction is already underway and the project is expected to be completed by December 2031. The new line will improve connections between high-density communities in the eastern San Fernando Valley and the wider Los Angeles County rail network.Read more