13 Aug 2025

Varmora Granito, a tiles and bathware maker based in Rajkot, recently filed its DRHP with SEBI, proposing a blended IPO with fresh equity worth INR 400 crore and an OFS of about 5.24 crore shares. Much of the fresh funds will go toward repaying debt across the parent company and its subsidiaries; the balance is meant for general corporate purposes. The company offers an extensive tile range, including glazed vitrified and ceramic variants, supported by a strong manufacturing footprint and wide distribution network.Read more

12 Aug 2025

Apeejay Surrendra Park Hotels is set to claim 55 per cent of revenues from its upcoming luxury hotel and serviced-apartment development along Kolkata's EM Bypass. The 3.5-acre project, in partnership with Ambuja Neotia Group, will house a 250-key five-star hotel and 100 serviced residences. With most approvals in hand and municipal clearance expected soon, construction is slated to begin shortly. Residential units will launch around Diwali. The ambitious venture promises strong margins without additional capital and is expected to generate INR 600 crore in total revenues over three years.Read more

12 Aug 2025

Awfis saw a standalone profit of INR 8.94 crore and total income of INR 351.54 crore, reflecting a 30 percent year-on-year growth in operating revenue. Profitability improved markedly, with the operating EBITDA margin reaching 37.8 percent. A 40 percent expansion in seat capacity and a 25 percent rise in tier-II city presence underline its scalability. The company is also entering office furniture production, investing INR 8-10 crore to streamline fit-outs and create a new income stream all following the previous quarter's dramatic profit and revenue rise.Read more

12 Aug 2025

The Tata Group's Indian Hotels Company Ltd (IHCL) has signed agreements to acquire 51 % stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, which operate 135 hotels under the Clarks Hotels & Resorts brand. The deal involves a cash investment of up to INR 110 crore for ANK Hotels and INR 94 crore for Pride Hospitality. IHCL has also entered a distribution and marketing agreement with Brij Hospitality, adding 19 more hotels to its network. The move aligns with IHCL's asset-light strategy and expands its reach in India's mid-scale segment.Read more

12 Aug 2025

Highway Infrastructure Ltd. entered the stock market with a sharp surge in its share price, listing at INR 117 on the BSE and INR 115 on the NSE about 67 % and 64 % above the IPO price of INR 70. The INR 130-crore IPO, which closed with an extraordinary subscription of over 300 times, comprised a fresh issue worth INR 97.52 crore and an offer-for-sale of 46.4 lakh shares at INR 32.48 crore. Established in 1995, the Indore-based company works in tollway collection, EPC projects, and real estate development. Strong grey market activity before listing had already hinted at a robust debut.Read more

12 Aug 2025

The Finance Ministry recently introduced the Taxation Laws (Amendment) Bill, 2025, aimed at providing tax exemptions for subscribers of the newly launched Unified Pension Scheme (UPS). This bill ensures that all tax benefits previously available under the New Pension Scheme (NPS) will now apply to the UPS, which came into effect from April 1, 2025. Besides pension-related changes, the bill also proposes amendments to the block assessment process in income tax search cases and offers specific direct tax benefits to Saudi Arabia's public investment funds. These updates seek to improve tax administration, encourage pension savings, and strengthen foreign investment ties.Read more

12 Aug 2025

SEBI has proposed significant changes to allow resident Indian non-individuals and mutual funds greater participation in the Foreign Portfolio Investors framework, especially within International Financial Services Centres. The regulator plans to enable retail schemes sponsored or managed by resident Indians in IFSCs to register as FPIs, with a 10 percent contribution limit in certain funds. Additionally, overseas mutual funds could include Indian mutual funds as constituents. The proposals seek to expand the existing FPI participation rules that currently restrict resident Indians and NRIs from registering as FPIs, aiming to foster increased investment flexibility and growth in international investment structures.Read more

12 Aug 2025

The Greater Mohali Area Development Authority (Gmada) has held a numbering draw for shops-cum-offices (SCOs) and bay shops in Aerocity under its land-pooling scheme, limited to existing letter of intent (LOI) holders. Lists of eligible applicants were published for verification, with objections accepted only before a set deadline. The draw precedes actual possession, which will follow completion of development works in the coming months. Applications include 40 for 60 sq yd bay shops, 131 for 100 sq yd SCOs, and 29 for 121 sq yd SCOs. While Aerocity's commercial growth is promising, residents urge Gmada to address civic issues for sustainable development.Read more

12 Aug 2025

The Navi Mumbai Municipal Corporation (NMMC) has introduced amendments to its property transfer fee policy, aiming to simplify procedures and improve transparency. Approved by the Commissioner and Administrator, the revisions include a ready reckoner-based calculation system, reduced charges for inheritance transfers, and a revised deadline for late fee applicability. The updated structure incorporates clear mathematical methods, provisions for various document types, and specific rules for corporate ownership changes. The late fee provision will apply from October, giving property owners time to comply with the updated requirements.Read more

12 Aug 2025

In an exchange filing earlier this week, NBCC India reported a consolidated net profit increase of nearly 26 per cent for the opening quarter of the current fiscal year compared to the same period a year ago. The company also recorded double-digit revenue growth and announced a first interim dividend for shareholders. The strong quarterly performance reflected the firm's expanding project portfolio and steady execution capabilities.Read more

12 Aug 2025

Property tax collections in Gurugram have reached nearly three-quarters of the annual target, while Manesar has already surpassed last year's revenue, thanks to an AI-powered tax system. The technology uses generative AI chatbots to engage taxpayers, identify reasons for non-payment, and categorise them for tailored follow-up-ranging from quick reminders to solutions for genuine challenges. Piloted in Yamunanagar, the system has boosted payments and reduced staff workload. Officials credit it with improving efficiency, while residents urge that the extra revenue be channelled into better amenities, infrastructure upgrades, and stronger public services to address urban needs alongside financial gains.Read more

12 Aug 2025

Signature Global Ltd has reported a sharp rise in its consolidated net profit for the first quarter of FY26, hitting INR 34.43 crore five times more than the INR 6.79 crore it earned during the same period last year. This strong growth came on the back of a significant boost in total income, which nearly doubled to INR 898.35 crore, driven by increasing residential demand. The Gurugram-based company is a key player in India's real estate landscape and has been capitalizing on the country's robust appetite for affordable and mid-income housing.Read more

12 Aug 2025

Varmora Granito Ltd, a leading tile and bathware manufacturer based in Rajkot, has filed its draft red herring prospectus with the Securities and Exchange Board of India to launch its IPO. The offering includes a fresh issue worth INR 400 crore and an Offer for Sale (OFS) of 5.24 crore shares by promoters and investor Kastura Investments. The funds raised will primarily be used to repay borrowings of both the company and its subsidiaries, and for corporate purposes. The IPO will be managed by JM Financial, Goldman Sachs India, and SBI Capital Markets.Read more

12 Aug 2025

Ramco Cements reported a fivefold jump in consolidated net profit to INR 181.58 crore in the first quarter of FY26, driven by higher cement prices and better operational efficiency. Although the company's revenue dipped marginally to INR 2,074 crore, a 23% growth in EBITDA and reduced expenses helped lift the bottom line. Cement sales volume declined by 7% due to early monsoon impact in Kerala and slowing infrastructure demand in the eastern region. Capacity utilisation also fell, but the company remains focused on expanding capacity to 30 MTPA by March 2026.Read more

11 Aug 2025

ITC Hotels' Fortune brand is expanding in Uttar Pradesh with a new property in Lucknow through a tie-up with CEM Hospitality, bringing its operational presence in the state to seven hotels. Located on Lucknow-Kanpur Road, the 93-room hotel will feature a multi-cuisine restaurant, rooftop dining, a bar, banquet halls, a swimming pool, gym, and spa. CEM Hospitality Chairman Indermohan Singh said the partnership leverages Fortune's strong brand and operational expertise. The group already operates hotels in Lucknow, Aligarh, Ghaziabad, and Noida, with new developments underway in Ayodhya and other locations, reflecting its strategy to strengthen its presence in high-growth destinations.Read more

11 Aug 2025

It emerged that Country Garden, the Chinese property developer, managed to secure a deferral from the Hong Kong High Court, postponing its liquidation hearing until early next year. The hearing had been scheduled for this month but has now been pushed to early 2026, giving the firm a valuable window to pursue creditor backing for a sweeping offshore debt restructuring. The proposal aims to cut around USD 14.1 billion of liabilities by roughly 78 per cent, and winning sufficient support remains crucial to persuading the court to dismiss the petition.Read more

11 Aug 2025

Brookfield Asset Management has expanded its footprint in Mumbai, acquiring another floor in Godrej BKC for INR 370.25 crore under the IBC process. Exercising its right of first refusal, Brookfield now controls three contiguous floors-about 250,000 sq ft-along with parking rights and Jet Airways' former board seat for the building. The deal comes amid surging BKC rents, now INR 650-700 per sq ft per month. Brookfield's earlier two floors, bought in 2020, are leased to tenants like World Bank and PayPal. The firm has also secured a prime two-acre plot in BKC, reinforcing its long-term strategy in Mumbai's premium office market.Read more

11 Aug 2025

BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, subsidiaries of Reliance Infrastructure, are set to recover regulatory dues amounting to INR 28,483 crore following a Supreme Court directive. The order mandates that the recovery process, covering regulatory assets and carrying costs, be completed within a specified timeframe, starting retrospectively from April 2024. The ruling comes after a decade-long legal dispute over non-cost reflective tariffs, unlawful creation of regulatory assets, and delayed liquidation, impacting millions of electricity consumers in Delhi.Read more

11 Aug 2025

Cowrks, a premium flexible workspace brand owned by Brookfield Properties, has expanded its managed office portfolio to over 1 million sq ft across major cities, including Mumbai and Bengaluru. The company has introduced Enterprise Plus, offering dedicated managed offices with end-to-end design and operational services for enterprises and global capability centres (GCCs). This growth is driven by rising demand for customised, fully managed workspaces in markets such as Delhi-NCR, Chennai, and Hyderabad.Read more

11 Aug 2025

India's largest real estate developer, DLF Ltd, is set to invest INR 23,500 crore towards completing its ongoing residential projects across Delhi-NCR and Mumbai. With a strong liquidity position, including INR 10,429 crore in cash and INR 37,220 crore in customer receivables, the company is well-capitalized for this construction drive. Recent launches like DLF Privana North in Gurugram and a premium project in Mumbai have already seen complete sell-outs, significantly contributing to record-breaking sales bookings. DLF is targeting INR 20,000-22,000 crore in bookings this fiscal, having already crossed INR 11,425 crore in the first quarter.Read more