19 Aug 2025

Janakpuri's District Centre, once a thriving hub for shopping and dining in West Delhi, has witnessed a revival with the steady entry of modern commercial developments. Spring House Workspaces, a homegrown flexible office operator, has reinforced its presence in the area by opening its third centre in Janakpuri. Spread across 20,000 sq. ft. with a capacity of over 400 seats, the facility is designed to meet the needs of startups, MSMEs, global enterprises, and remote professionals.Read more

19 Aug 2025

Star Housing Finance Limited announced its financial and business results for the quarter ending June 2025, reporting a 16% year-on-year growth in Assets Under Management (AUM) alongside an 11% increase in interest income. The company highlighted strong asset quality with Gross NPA at 1.65% and Net NPA at 1.13%. It also approved an increase in authorised share capital to INR 125 crores and plans to raise INR 50 crores through Non-Convertible Debentures.Read more

19 Aug 2025

The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has collected around INR 82.6 crore in property tax dues through its extended "Freedom from Penalty" amnesty scheme. The programme, earlier limited to residential properties, was widened to include commercial and industrial properties as well. The scheme allows a 95% waiver on penalty charges if dues are cleared in a single payment. More than 37,000 property owners have benefited so far. Civic officials said tax receipts for the ongoing financial year are already showing strong progress and could surpass last year's collections.Read more

19 Aug 2025

The Comptroller and Auditor General (CAG) has reported a notional loss of INR 13,362 crore due to lapses and irregularities in the Greater Noida Industrial Development Authority's operations. Covering 2005-06 to April 2021, the audit revealed that GNIDA prioritized residential growth over its core mandate of industrial development, with residential land use exceeding plans while industrial use lagged. Irregularities in group housing allotments alone left INR 10,732 crore in pending dues, causing project delays and distress for homebuyers. The report also flagged misuse of land acquisition rules and weak enforcement against defaulters. GNIDA says it is revising policies and pursuing recovery measures.Read more

18 Aug 2025

Apple has secured one of Bengaluru's largest single-tenant office leases in a deal valued at over INR 1,000 crore. The technology giant has signed a 10-year lease for approximately 2.7 lakh sq ft of office space in the Embassy Zenith project. This strategic investment in a new corporate hub in Bengaluru runs parallel to its aggressive expansion in manufacturing and retail, positioning India as a key pillar in Apple's global ecosystem.Read more

18 Aug 2025

IKEA India has opened its first store in Delhi, a 15,000 sq ft city-format outlet at Pacific Mall in West Delhi. The launch, which features 2,000 home furnishing products and a Swedish café, marks a significant step in the company's expansion across North India. This new store is part of IKEA's "One Click, 30 Minutes Away" strategy, which aims to combine physical accessibility with online convenience. The company plans to open more stores in the Delhi-NCR region, with two larger-format stores already under construction in Gurgaon and Noida.Read more

18 Aug 2025

Gurugram-based Elan Group has raised INR 140 crore from a real estate credit platform co-managed by BGO and Aditya Birla Sun Life AMC, marking another significant step in its financial restructuring. The fresh funding comes shortly after the developer secured INR 250 crore from Piramal Finance to support a commercial project and repaid INR 875 crore to PAG's Asia Pragati fund. The repayment, ahead of schedule, lowered interest liabilities and strengthened its financial position. With a history of drawing global investment including PAG's USD 110 million (INR 900 crore) in 2022 Elan appears focused on balancing debt and expansion in a competitive property market.Read more

18 Aug 2025

Dow Chemicals has leased 2.56 lakh sq ft at Mindspace SEZ in Airoli, spanning five floors for a 10-year term at INR 1.64 crore monthly rent (INR 64 per sq ft). The deal includes 5% annual escalation, a security deposit of INR 14.77 crore, and a fit-out deposit of INR 82.09 crore refundable in installments, alongside a fixed fit-out rent of INR 29.45 per sq ft. The move highlights strong multinational demand for premium offices in Greater Mumbai. Mindspace REIT recently reported 1.7 million sq ft of leasing across major cities, driven by GCCs, BFSI, and tech firms, underscoring India's robust office market momentum.Read more

18 Aug 2025

Miraj Cinemas, India's third-largest multiplex chain, expanded its Delhi NCR footprint with the opening of a new four-screen multiplex at KLJ Square Mall in Gurugram. The launch coincided with the release of War 2, adding to the excitement among cinema-goers. Designed with elegant interiors, gourmet food offerings, and state-of-the-art projection and sound systems, the property reflects Miraj's strategy of combining premium experiences with cutting-edge technology to attract audiences across metros and regional markets.Read more

18 Aug 2025

Godrej Properties has reported a 42 per cent increase in net debt in the June quarter, reaching INR 4,637 crore, as the company continues to expand its housing portfolio through aggressive land acquisitions. Despite the rise, its debt-to-equity ratio remains at a comfortable 0.26. The company acquired five land parcels in Mumbai, Pune, Bengaluru and Panipat during the first quarter, with projects valued at INR 11,400 crore. It aims to surpass its sales booking guidance of INR 32,500 crore for this fiscal.Read more

18 Aug 2025

Infosys has received a penalty of 97,035 Singapore dollars (over INR 66 lakh) from Singapore's tax authority for alleged delays in Goods and Services Tax (GST) payments for the April-June 2025 period. The company, which received the order on August 13, stated that the penalty does not have a material impact on its financials. In a separate development, Infosys also announced it will acquire a 75 percent stake in Versent Group, a subsidiary of Australian telecom company Telstra, for AUD 233.25 million (about INR 1,336 crore). This acquisition is part of a strategic collaboration to provide AI-enabled cloud and digital solutions for Australian businesses.Read more

17 Aug 2025

TARC Ltd has delivered a clear turnaround, posting a consolidated net profit of INR 54.21 crore for the June quarter after experiencing a loss the same time last year. Total income jumped sharply to INR 295.36 crore, up from just INR 9.62 crore previously. This follows a challenging previous fiscal year, when the company ended deep in the red with a net loss exceeding INR 230 crore on modest income. Renewed momentum was driven by its real estate developments in Delhi and Gurugram, supported by strong housing demand and improved project execution.Read more

17 Aug 2025

Brigade Enterprises' consolidated net profit nearly doubled to INR 158 crore in Q1 FY26, up 95% from INR 83.72 crore a year earlier, driven by strong residential sales and its successful INR 885.6 crore IPO. Total income rose 19% to INR 1,332.86 crore. Pre-sales hit INR 1,118 crore for 0.95 million sq ft, with average realisation per sq ft up 24% to INR 11,782. Leasing revenue grew 15% to INR 300 crore with 92% occupancy, while hospitality revenue rose 19% to INR 141 crore. With 16 million sq ft in planned launches and 1,700 hotel keys, Brigade's market position was further boosted by an ICRA rating upgrade to AA (Stable).Read more

17 Aug 2025

The government has introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, in the Lok Sabha, proposing sweeping reforms to improve the efficiency of the insolvency process. The bill, which has been referred to a select committee of Parliament for review, aims to cut down on delays, protect stakeholders, and enhance governance. It includes new provisions for group insolvency and an out-of-court resolution process, seeking to address a current case backlog and bring India's insolvency framework in line with global standards.Read more

17 Aug 2025

Bollywood actor Hrithik Roshan and his father Rakesh Roshan, through their company HRX Digitech LLP, have purchased three premium office units in Chandivali, Mumbai for INR 31 crore. The transaction, which was registered on July 9, 2025, involved a total carpet area of 13,546 square feet in the Boomerang building. This acquisition is part of the Roshan family's strategic expansion of their commercial real estate portfolio, reinforcing Chandivali's growing reputation as a key business hub in the city.Read more

16 Aug 2025

Nila Spaces has committed INR 5 crore from internal accruals to Earth Fund as a limited partner, securing access to emerging ventures in smart infrastructure, low-carbon materials, and digital construction workflows. The move is designed to integrate advanced PropTech and sustainability-focused solutions into its developments, underscoring the company's strategic focus on innovation and climate-conscious real-estate growth.Read more

16 Aug 2025

The Ministry of New and Renewable Energy (MNRE) is set to clear a subsidy backlog of over INR 200 crore for waste-to-energy projects under the National Bioenergy Programme. This was announced after a guideline requiring plants to show 80% efficiency for three consecutive months was relaxed in June. An official said this norm was impractical, as plants often operated at lower capacity without assured off-take. The new rule allows subsidy release based on a one-day demonstration of capacity, and the backlog is expected to be cleared in a few months following post-monsoon inspections.Read more

15 Aug 2025

Deutsche Pfandbriefbank (PBB), a prominent German property financier, has reported a substantial net loss of EUR 266 million (approximately USD 310.79 million) for the second quarter, a significant decline from the EUR 11 million profit recorded in the same period the previous year. This downturn is attributed to increased risk provisions as the bank withdraws from the U.S. market, a decision influenced by perceived volatility under President Donald Trump's administration. The bank's exposure to the U.S. market, which constituted 12% of its portfolio but accounted for 45% of its non-performing loans, has been a contributing factor to its financial challenges.Read more

15 Aug 2025

The Asia Pacific commercial real estate sector showed strong resilience in the first half of 2025, with investment volumes climbing 18% year-on-year, according to CBRE's mid-year market outlook. Backed by solid fundamentals, CBRE revised its full-year forecast to a 10-15% rise in investments, driven largely by demand in Korea, Japan, and Singapore. Office leasing is expected to remain steady, with significant rental growth in Tokyo and Mumbai, while Greater China faces continued declines. Logistics and retail are forecast to remain stable, and hospitality is witnessing strong performance in markets such as Japan, Korea, Vietnam, and India.Read more

15 Aug 2025

Grovy India Ltd achieved a net profit of INR 1.1 crore in the first quarter of the current fiscal, reversing a loss of INR 25 lakh from the previous year's same period. The company's revenue surged from INR 1.3 crore to INR 8.3 crore, driven by ongoing luxury apartment projects covering over 100,000 sq ft in South Delhi. Since its establishment in 1985, Grovy India has completed over 100 projects focused on independent floors, mainly in South Delhi. The company's improved financial health reflects growing demand for premium residential properties in the region.Read more