24 Aug 2025

Israel Aerospace India Services Pvt Ltd, a subsidiary of Israel Aerospace Industries (IAI), has leased a 45,277 sq ft office space in Gurugram's Intellion IT Park for a monthly rent of INR 32.14 lakh. The five-year lease, which includes a 15% rent escalation every three years, is part of IAI's strategy to expand its presence in India. This move aligns with the "Atmanirbhar Bharat" initiative, as the company plans to establish a large-scale hub for the maintenance, repair, and overhaul (MRO) of defense equipment in the Gurugram area.Read more

24 Aug 2025

The Madras High Court has ordered a citywide audit of property tax assessments in Madurai following a public interest litigation (PIL) that has exposed a massive INR 200 crore property tax scam. The court has also directed the formation of special teams to verify the correctness of all assessments. This action comes, as a Special Investigation Team (SIT) is already probing the scam, which allegedly involves the undervaluation of properties by officials, political figures, and the manipulation of the online tax system.Read more

24 Aug 2025

The Phoenix Mills has acquired the Canada Pension Plan Investment Board's (CPP Investments) 49% stake in their joint venture, Island Star Mall Development (ISMDPL), for a total of INR 5,449.16 crore. This strategic move, which has been approved by the Competition Commission of India (CCI), gives Phoenix Mills full ownership and sole control of ISMDPL. The acquisition will be funded over three years and is intended to consolidate ownership of key retail assets, enhancing operational flexibility and positioning the company for long-term growth.Read more

23 Aug 2025

Geberit posted a decline in its second-quarter profit as weak construction activity in Europe continued to affect its performance. The Swiss building materials supplier reported a 2.3% fall in quarterly EBITDA, slightly below analyst estimates. Renovation demand, however, remained stable and now accounts for nearly 60% of sales. While new build activity slowed across Europe and demand in China's housing market weakened, business in India and the Gulf stayed firm. Geberit continues to expect around 4% growth in net sales in local currencies and an EBITDA margin close to 29% for 2025.Read more

23 Aug 2025

Transteel has recently secured workspace orders totaling INR 7.5 crore from leading companies, including Brookfield Properties, Oberoi Realty, and GE Healthcare. The orders cover complete office solutions, including interior design, construction, and supply of ergonomic furniture across multiple cities such as Bengaluru, Mumbai, Pune, and Chennai. With these projects, the company's total order book has crossed INR 44 crore. Transteel expects to complete the orders within 60 to 90 days. The company is also planning to expand its Design & Build vertical aggressively, targeting a compound annual growth rate of 49% over the next five years.Read more

23 Aug 2025

In a lawsuit alleging data theft, the Delhi High Court has summoned the directors of real estate analytics firm Bhugol Analytics Private Limited (CRE Matrix) to respond to a plea by its rival, PE Analytics Limited (PropEquity). PropEquity claims that CRE Matrix stole its primary real estate data and unethically hired former employees in violation of their non-compete clauses. The firm, which has also filed a police complaint with the Gurugram cyber crime branch, is seeking a permanent injunction and INR 8 crore in damages for the alleged intellectual property theft.Read more

23 Aug 2025

EZTax launched a new version of its self-service income tax e-filing portal with artificial intelligence features designed to simplify filing, reduce errors, and save time. The update is expected to cut e-filing duration by about 30% while helping taxpayers find savings and ensure accuracy. EZTax, an authorised e-Return Intermediary since 2016, has steadily expanded its technology, including AI planning tools introduced in 2017. The platform supports a wide range of filings, from standard ITR forms to complex cases such as crypto, overseas income, and capital gains, serving both Indian residents and NRIs in over 42 countries.Read more

22 Aug 2025

The Indore Municipal Corporation (IMC) recently sealed 36 shops on the first floor of Siddhi Vinayak Market 2 on Jail Road due to non-payment of property tax and garbage collection fees. Officials clarified that the action followed repeated notices and ample time given to shopkeepers to settle their dues. Shopkeepers can have the seals removed by submitting registration documents, opening property tax accounts, and paying the pending amounts. The IMC emphasized that timely tax compliance is essential to maintain municipal services and infrastructure.Read more

22 Aug 2025

IHCL is investing up to INR 5 crore in the redevelopment of Chotelal Ki Ghat in Kolkata, a historic site along the Hooghly River built in the 1870s. Supported by INTACH, the project focuses on restoration, conservation, landscaping, and beautification, in line with the Namami Gange Programme and Swachhata initiatives. Executives from IHCL and Syama Prasad Mookerjee Port emphasized enhancing the ghat's cultural significance and community engagement. The collaboration is part of a larger effort to revive heritage sites through private-public partnerships, aiming to make Chotelal Ki Ghat a prominent cultural and tourist destination.Read more

22 Aug 2025

The Swedish home furnishing giant IKEA is projecting a sales growth of over 10% for its India business in the financial year 2025. This robust forecast is part of a strategic shift by the company to accelerate its expansion after a period of slower growth during the pandemic. To achieve this, IKEA is adopting a new multi-format approach, which includes opening a mix of traditional large stores, city stores, and a new format of smaller outlets ranging from 2,000 to 5,000 square feet. The company's focus is on enhancing its presence and affordability in the Indian market by establishing low-cost fulfillment and logistics operations.Read more

22 Aug 2025

Retail inflation for farm and rural workers moderated in July, dropping to 0.77 per cent for agricultural labourers and 1.01 per cent for rural labourers, down from higher figures in June. The All-India Consumer Price Index rose slightly for both groups, while food inflation contracted to -1.56 per cent and -1.13 per cent, making essential commodities more affordable. Based on data from 787 sample villages across 34 States and Union Territories, the figures reflect easing price pressures on rural households. Analysts view the moderation as a sign of relative stability in the rural economy after earlier fluctuations.Read more

22 Aug 2025

Weaver Services, a technology-driven housing finance company, has successfully raised approximately INR 1,482 crore (USD 170 million) in a new funding round. The investment was co-led by Lightspeed and Premji Invest, with additional participation from Gaja Capital. The funding will be used to acquire assets, enhance its technology platform, and expand its services to provide affordable housing finance to self-employed individuals in smaller Indian cities.Read more

22 Aug 2025

Globe Civil Projects has secured a work order worth INR 222.20 crore from the Haryana Cricket Association for building an international cricket stadium at Lohat in Jhajjar district. The project is scheduled for completion within 24 months and marks the company's first step into the sports infrastructure sector. The contract adds to its recent order book growth, including an EPC project last month valued at INR 172.99 crore for the Central University of Punjab. With experience across railways, education, and civic infrastructure, the company is now expanding its reach into new segments.Read more

22 Aug 2025

The Deloitte FICCI report reveals that India's retail market, which stood at USD 1.06 trillion earlier this week, is expected to grow at a 10 percent annual rate to reach nearly USD 1.9 trillion by the end of the decade. Domestic demand, a vital buffer against global shocks combined with rising digital adoption, premiumisation, quick commerce, and D2C growth, is reshaping the landscape. Gen Z's spending power, preference for "Made in India", and strong performance beyond major metros are fueling confidence and innovation across retail and FMCG sectors.Read more

21 Aug 2025

The Lucknow Municipal Corporation (LMC) has ramped up its efforts to recover pending property taxes by sealing and attaching 24 buildings across multiple zones. The civic body's move comes in response to a continued backlog of unpaid dues, despite earlier initiatives such as online payment systems and one-time settlement schemes. The action targets high-defaulter properties and reflects LMC's stricter enforcement measures to improve revenue collection and ensure compliance among property owners.Read more

21 Aug 2025

India's Infrastructure Investment Trusts (InvITs) sector is projected for substantial growth, with its assets under management (AUM) expected to surge to INR 21.5 lakh crore (USD 258 billion) by 2030, a more than threefold increase from its current size. This significant expansion is being driven by a surge in India's infrastructure investments and robust government initiatives like the National Monetisation Pipeline (NMP). While the InvIT sector is already gaining traction, it has considerable untapped potential across various infrastructure domains, which is expected to attract significant global capital.Read more

21 Aug 2025

Ashar Group has announced the arrival of prominent brands like Lenskart and Clove Dental at its Ashar Arize project, marking a significant boost to Kalwa's retail and lifestyle ecosystem. The 600 sq. ft. outlets are part of a 20,000 sq. ft. high-street retail plaza, featuring units from 300 to 800 sq. ft., excellent frontage, and pedestrian-friendly design. With the retail section now certified for occupation, multiple brands can begin operations immediately. Supported by major infrastructure projects and redevelopment initiatives, Kalwa is evolving into a modern, self-sustaining micromarket, attracting both residents and premium retailers in MMR.Read more

21 Aug 2025

Mumbai-based real estate developer Runwal Enterprises has received approval from the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of INR 1,000 crore. The IPO, which will be a fresh issue of shares, aims to strengthen the company's balance sheet and fund future expansion plans. This approval, which comes amidst record-high property sales in Mumbai, reflects the company's strong financial performance and its growing presence in the residential and commercial markets.Read more

21 Aug 2025

Mindspace Business Parks REIT has raised INR 550 crore from the International Finance Corporation (IFC) by issuing sustainability-linked bonds, following an earlier fundraising of INR 650 crore through a similar route last year. With this, the total raised under this structure stands at INR 1,200 crore. The issuance carries an eight-year tenure and a 'AAA (Stable)' rating from ICRA. As the first REIT in India to use sustainability-linked bonds under SEBI's ESG framework, Mindspace aims to expand its portfolio of green-certified office spaces across key business hubs in the country.Read more

21 Aug 2025

Honda Motor Co Ltd has established a new subsidiary, Honda Finance India Pvt Ltd, to provide retail financing services in the country. The company plans to offer loans and lease options for its motorcycles and cars, in line with rising demand for vehicle financing. Traditionally, such services in India have been led by local banks and financial institutions. With this move, Honda joins eight other countries where it already operates dedicated financing subsidiaries. The company will soon apply for a non-banking financial company (NBFC) license before starting operations.Read more