08 Aug 2025

India's top six cities witnessed a 14% rise in net office space leasing during the 2024-25 fiscal, reaching an all-time high of 65 million square feet, as per ICRA. The leasing momentum is expected to continue through 2025-26, driven by strong demand from Global Capability Centres (GCCs), BFSI institutions, flex-space operators, and domestic IT-BPM firms. Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR), and Pune were the key cities leading this growth. The April-June quarter alone accounted for 17 million sq ft of fresh absorption.Read more

08 Aug 2025

Raymond Realty has reported a solid financial performance for the first quarter of fiscal year 2025-26, posting a standalone net profit of INR 26.93 crore. The company, which recently de-merged from the Raymond Group and got listed on the stock exchanges, saw total income reach INR 334.34 crore. With a robust land bank and a net-debt-free status, the company is focusing on an asset-light expansion model through joint development agreements (JDAs) and plans to launch several new projects in the coming months.Read more

08 Aug 2025

DLF reported a 19% year-on-year increase in consolidated net profit for the June quarter of FY26, reaching INR 766 crore. New sales bookings surged 78% to INR 11,425 crore, primarily driven by high demand for the company's luxury project, DLF Privana North in Gurugram. Consolidated revenue rose to INR 2,981 crore, and the net cash balance improved to INR 7,980 crore. The company's commercial arm also recorded stable occupancy and a double-digit profit growth. DLF had ended the previous fiscal with record earnings and robust sales, indicating a sustained momentum in the premium housing segment.Read more

07 Aug 2025

CapitaLand Integrated Commercial Trust (CICT) will acquire full ownership of the office and retail portions of CapitaSpring in Singapore's Raffles Place, buying out CapitaLand Development's 45% and Mitsubishi Estate's 10% stakes. Valued at SGD 482.3 million, the deal totals around SGD 1.05 billion and will be funded through a SGD 500 million private placement. With this move, CICT's Singapore exposure rises to 95%, and distribution per unit is expected to increase by 1.1% (pro forma). CapitaSpring-a 51-storey tower with premium offices and retail-boasts high occupancy, particularly from banking, legal, and tech tenants. The acquisition supports CICT's strategy to grow via high-quality, local assets.Read more

07 Aug 2025

The Reserve Bank of India (RBI) has maintained its benchmark repo rate at 5.50% after implementing cumulative cuts of 100 basis points earlier this year. Starting from 6.50%, the central bank reduced the rate in multiple steps to support economic growth amid stable inflation. While inflation projections have eased and liquidity has improved, the RBI has now paused further easing, keeping its stance neutral. The impact of rate cuts on lending rates has been slow, and global uncertainties, including trade tensions, are adding new challenges to the economic outlook.Read more

07 Aug 2025

Tata Group's retail arm, Trent Ltd, has reported a consolidated net profit of INR 424.7 crore for the April-June quarter, marking an 8.6% year-on-year increase. The growth was backed by consistent performance across its retail formats, including Westside, Zudio, and Star. Revenue from operations surged 18.9% to INR 4,883.48 crore, while expenses also saw a rise. The company continues to expand its direct-to-customer strategy and strengthen its presence in key markets. With over 70% of Star's revenue coming from in-house brands, Trent is positioning itself for deeper market penetration and long-term value.Read more

07 Aug 2025

IRB Infrastructure Developers Ltd recorded a 10% year-on-year increase in toll revenue for July 2025, collecting INR 548 crore as against INR 499 crore during the same period last year. Maharashtra's MP Expressway remained the highest contributor despite a slight dip, while Hyderabad's Golconda Expressway and the Ahmedabad-Vadodara corridor followed with notable growth. The company attributes the uptick to improved traffic volumes and remains confident about sustaining this trend through the festive season. IRB's strong portfolio, spread across 12 states, continues to be a key driver in India's toll road ecosystem.Read more

07 Aug 2025

Prestige Hospitality Ventures, the hospitality division of Prestige Estates Projects, has received approval from SEBI to go ahead with its INR 2,700 crore initial public offering. The IPO will comprise a fresh equity issue of INR 1,700 crore and an offer-for-sale of INR 1,000 crore by the parent company. The company plans to use the proceeds to reduce debt and fund future acquisitions. With nearly 1,500 rooms currently in operation and a robust pipeline of around 2,500 more, the company is strengthening its position in India's premium hospitality segment.Read more

07 Aug 2025

The Competition Commission of India (CCI) has approved Dalmia Bharat's acquisition of Jaiprakash Associates Ltd (JAL), marking a key step in the company's insolvency resolution. The deal, executed through Dalmia Cement (Bharat) Ltd, aligns with requirements under the Insolvency and Bankruptcy Code before creditor voting. JAL, currently in CIRP, holds diverse assets including real estate, hotels, and defunct cement plants, with creditor claims totalling INR 185 crore. Rivals like Adani Enterprises and Vedanta Group have also received CCI nods to submit resolution plans.Read more

07 Aug 2025

The BMC has taken strict action against two Living Liquidz outlets in Kamala Mills for carrying out unauthorised structural modifications and operating without required fire safety approvals. The civic body demolished illegal extensions and cancelled their licences. This comes after inspections revealed that commercial premises meant for a tailoring shop and a garment store had been illegally turned into bar and wine shop operations. The crackdown is part of a wider enforcement drive in the Kamala Mills compound targeting several eateries for violations.Read more

07 Aug 2025

The Reserve Bank of India has opted to keep the repo rate unchanged, maintaining its current level under the Liquidity Adjustment Facility amid persistent global and domestic uncertainties. This policy continuity has been met with a positive response from the real estate sector, which sees the move as supportive of consumer confidence and housing affordability. Developers believe stable borrowing costs, reinforced by earlier rate cuts, will help sustain momentum in residential demand, particularly with the festive season approaching.Read more

07 Aug 2025

Keystone Realtors, also known as the Rustomjee Group, reported its highest-ever quarterly pre-sales of INR1,068 crore in the first quarter of the fiscal year 2025-26 (Q1 FY26), marking a 75% year-on-year increase. This achievement came despite a 44% decline in consolidated net profit, which fell to INR14.51 crore. The company attributed the drop in profit to a change in accounting methods for revenue recognition and stated that it is shifting to the percentage of completion method for new projects. With a strong project pipeline and zero net debt, the company remains confident in its future growth.Read more

07 Aug 2025

The Madhya Pradesh High Court has ordered a stop to all illegal commercial activities in Bhopal's Arera Colony (E-1 to E-5), a residential zone. Petitioners highlighted lease and planning violations caused by rising commercial setups like shops and restaurants. Notices have been sent to concerned government departments, and they have been instructed to respond within four weeks. The court also ordered that no new non-domestic electricity connections be issued, and no further construction take place until the matter is decided.Read more

07 Aug 2025

Nagpur Municipal Corporation (NMC) has recovered only a small fraction of its total property tax dues of INR 938.7 crore for FY 2024-25. While over 4.6 lakh properties are in default, just 106 were auctioned. Recovery through warrants, attachments, and notices also remained limited. Officials pointed to slow enforcement and low compliance. Even with partial collections, NMC has fallen short of the financial demands required to maintain civic services.Read more

07 Aug 2025

The Lucknow Development Authority moved proposals to increase development charges and special amenity fees for properties within a 500 metre radius of major expressways like Shaheed-Path, Kisan-Path and the Green Corridor. Funds from these hikes will be earmarked for infrastructure and civic upgrades. Additional plans include new housing schemes, land-use conversions, land allocations for e-auto charging stations and a PPP bus terminal, and digitisation and financial borrowing proposals. All key ongoing housing and expansion projects, including those at Anantnagar, IT City and Kamdhenu Nagar, feature in the agenda.Read more

07 Aug 2025

HNI Corporation has announced plans to acquire office furniture firm Steelcase in a cash-and-stock transaction valued at approximately USD 2.2 billion. The deal, unveiled earlier this week, will result in the formation of a combined entity expected to generate annual revenue of around USD 5.8 billion. Steelcase shareholders will receive USD 7.20 per share in cash and 0.2192 shares of HNI common stock for each Steelcase share. The transaction reflects a premium of nearly 80 per cent over Steelcase's prior closing price.Read more

06 Aug 2025

Non-banking financial companies (NBFCs) have urged the Reserve Bank of India (RBI) to reconsider the current risk weights applied to loans against property, stating these loans are significantly more secure than unsecured lending. They argued that such loans are asset-backed and pose a lower credit risk, yet face disproportionately high capital provisioning requirements compared to home loans. NBFCs also pointed out regulatory inconsistencies in recovery rights and loan classification norms that they believe place them at a competitive disadvantage.Read more

06 Aug 2025

Mindspace Business Parks REIT reported a 24.2 % rise in net operating income to INR 616 crore in the first quarter of FY26, backed by strong leasing activity of 1.7 million sq ft and stable occupancy levels. Net consolidated profit grew over 21 % to INR 166.8 crore, while total income rose by nearly 18 % to INR 754.8 crore. The REIT acquired two office assets one in Pune and another in Hyderabad and declared a distribution of INR 5.79 per unit. Debt cost reduced during the quarter, and new leadership appointments were also announced.Read more

06 Aug 2025

Realty firm Prestige Estates Projects Ltd announced that its consolidated net profit increased by 26% to INR 292.5 crore in the first quarter of this fiscal year. This robust performance was complemented by a four-fold jump in sales bookings, which reached an all-time high of INR 12,126.4 crore, primarily driven by exceptional demand for its residential project in Ghaziabad. The company's total income also saw a significant rise to INR 2,468.7 crore, highlighting a strong start to the new fiscal year and a successful strategic expansion into North India.Read more

06 Aug 2025

Sri Lotus Developers and Realty made a strong stock market debut, listing at over 19% above its issue price of INR 150. Shares opened at INR 179.10 on the BSE and INR 178 on the NSE, later trading near INR 183. Backed by Bollywood celebrities and investor Ashish Kacholia, the company now holds a market valuation of INR 8,971 crore. Its INR 792 crore IPO, fully fresh issue, was oversubscribed 69 times. Promoted by Anand Kamalnayan Pandit, the firm focuses on luxury redevelopment projects in Mumbai's western suburbs. IPO proceeds will fund developments like Amalfi, The Arcadian, and Varun, alongside corporate growth needs.Read more