29 Jun 2025

The Uttar Pradesh government has trimmed the budget for Ghaziabad Municipal Corporation's new Arthala office from INR 110 crore to just under INR 100 crore. Despite the cut, the G+5 green building-spread across 21,000 sq.m-will retain core features like solar systems, rainwater harvesting, and space for 209 civic vehicles. The UP Jal Nigam will execute the project, slated for completion next year. This comes amid Ghaziabad's record-high civic budget of INR 3,722 crore, with major allocations for ward-level infrastructure, roads, drainage, and a new sports complex. The new headquarters is expected to enhance civic operations and address current space limitations.Read more

28 Jun 2025

Private equity investments in Indian real estate touched USD 1.73 billion by mid-June this year, sharply down from USD 2.96 billion during the same period last year, signalling increased caution among global investors. Knight Frank India has attributed this slowdown to shifting global capital flows influenced by high interest rates, liquidity tightening, and growing scrutiny over post-tax returns. Western capital has notably pulled back due to the rupee's depreciation, a narrowing India-US yield spread, and India's 12.5% long-term capital gains tax. Interestingly, domestic investors have ramped up their activity, becoming a critical funding source for the sector.Read more

28 Jun 2025

India's retail sector recorded a 7% year-on-year sales growth in May 2025, according to the Retailers Association of India's latest survey, signalling revived consumer confidence and rising discretionary spending. South India led with a 9% increase, followed by the West (7%), North (6%), and East (4%). Quick Service Restaurants (QSRs) topped category growth at 10%, while electronics and furniture both saw 8% gains. RAI CEO Kumar Rajagopalan noted this as a shift from recent modest growth trends, with a positive outlook for the festive season. Retailers are optimistic that strong category and regional trends will continue in the coming months.Read more

28 Jun 2025

The Navi Mumbai Municipal Corporation (NMMC) recently undertook demolition drives targeting unauthorised constructions in the Koparkhairane and Airoli regions. Despite prior notices under Section 54 of the Maharashtra Regional and Town Planning Act, 1966, several individuals continued illegal construction activities without obtaining approvals. Under the directives of the Commissioner and senior civic officials, the encroachment department executed partial demolitions with the support of municipal staff and police personnel. The operations involved mechanical tools, labourers, and tight security deployment.Read more

27 Jun 2025

CBRE's latest Asia Pacific Logistics Occupier Survey reveals that 76% of logistics firms plan to expand their real estate footprint over the next 3-5 years, despite trade policy uncertainties. While long-term optimism persists, short-term caution is rising, with cost efficiency and location strategy taking centre stage. India and the Middle East top the list for expansion, driven by strong domestic demand and supply chain diversification. Rental costs, transport efficiency, and proximity to key nodes are major factors in relocation decisions. The survey also highlights a growing confidence gap between India and China, as logistics occupiers adapt strategies to manage economic headwinds and shifting global dynamics.Read more

27 Jun 2025

IHG Hotels & Resorts, in partnership with Samhi Hotels, has launched its second Holiday Inn Express in Kolkata with a 113-room property developed for INR 40 crore. This brings the total number of Holiday Inn Express hotels in India to 18, with Samhi owning 12. IHG now operates 52 hotels across six brands in India and foresees potential for up to 20 Holiday Inn Express locations in Kolkata alone. The group is eyeing expansion into West Bengal's emerging destinations. Samhi, operating 32 hotels nationwide, views eastern India as a growth hotspot. Meanwhile, 84 IHG-affiliated hotels are currently under development across India.Read more

27 Jun 2025

Singapore-based Cube Mobility Investments sold a 3.62% stake in Cube Highways Trust this week, offloading over 4.82 crore units worth INR 615.50 crore. Major buyers included Kotak Mahindra Bank, LTI Mindtree, and Larsen & Toubro. Cube Highways units rose over 6% following the sale, reflecting strong investor demand. Earlier, IFC invested INR 860 crore in the trust's sustainability-linked bond, and L&T had acquired an 8.03% stake in 2023. In a separate NSE deal, South Africa's Lesaka Technologies exited its 8% stake in Mobikwik for INR 143 crore. Citigroup, HDFC Mutual Fund, and Societe Generale picked up significant shares, highlighting growing institutional interest.Read more

27 Jun 2025

Fintech major Pine Labs, backed by Peak XV Partners and Temasek, has filed its draft red herring prospectus with SEBI to launch its much-anticipated IPO. The offering includes a fresh equity issue worth INR 2,600 crore and an offer for sale exceeding 14.78 crore shares by existing investors, including PayPal, Mastercard, and Actis. The company intends to use part of the proceeds to repay debt and invest in IT infrastructure, digital expansion, and subsidiaries abroad. A potential INR 520 crore pre-IPO placement may reduce the fresh issue size.Read more

27 Jun 2025

Ranchi Municipal Corporation is facing a significant revenue shortfall, with over 70,000 property owners defaulting on holding tax payments, resulting in a gap of around INR 20 crore. Despite setting a target of INR 83 crore for the previous financial year, only about INR 80.64 crore was recovered. To address the deficit, the civic body is intensifying enforcement efforts, including water and waste service disconnections, reassessment of vacant plots, and identification of misused properties. A 10% rebate is also being offered for timely payments made in the current quarter, alongside digital and doorstep payment services to encourage compliance.Read more

27 Jun 2025

Supreme Infrastructure India Ltd (SIIL) has secured a turnkey INR 450 crore contract to develop a Project Affected Persons (PAP) housing complex in Powai, Mumbai. The project, part of a larger 6-acre urban renewal initiative by Brookfield-backed BSS and Rajeshwar Property Ventures, will span 1.6 million sq. ft. in Phase 1 and include residential units, infrastructure, and MEP works. SIIL will hand over the completed complex to MMRDA within three years. The broader development will eventually add 2.5 million sq. ft. of commercial and retail space. This deal boosts SIIL's order book to INR 1,725 crore, reinforcing its presence in major urban infrastructure projects.Read more

26 Jun 2025

Nexus Seawoods Mall has kicked off its much-awaited End of Season Sale, offering flat 50% discounts across 100+ top fashion and lifestyle brands, including GAP, Tommy Hilfiger, ALDO, and Lifestyle. Shoppers spending INR 5,000 or more stand a chance to win a Jawa motorcycle, with added perks like 50% off select F&B and double reward points. To maximise convenience, the mall will remain open till midnight during the sale weekend. Known for its high-energy retail events, Nexus Seawoods continues to cement its reputation as Navi Mumbai's ultimate shopping and lifestyle destination, combining big-brand bargains with immersive customer experiences.Read more

26 Jun 2025

In a string of notable developments across finance, insurance, and FMCG, Bajaj Finserv introduced a new small-cap fund aimed at quality investments amid market corrections, with its offer window approaching soon. ICICI Prudential Life rolled out a youth-focused market-linked plan, while Walko Food Company forayed into the artisanal dessert space by acquiring Meemee's Ice Creams. Meanwhile, Aseem Infrastructure Finance raised USD 80 million through its first external commercial borrowing and green loan, with DBS Bank leading the transaction from GIFT City.Read more

26 Jun 2025

Real estate firm Signature Global will raise up to INR 875 crore through secured, listed non-convertible debentures (NCDs) via private placement. The move, approved by the board, also includes a postal ballot to seek shareholder approval for increasing borrowing limits, creating securities, and amending the Articles of Association. Based in Gurugram, Signature Global ranked fifth among listed developers by sales bookings last year, posting INR 10,290 crore in FY24 sales. With a target of INR 12,500 crore in pre-sales for FY25, the company is doubling down on affordable and mid-income housing in the NCR, buoyed by strong post-IPO momentum and market confidence.Read more

26 Jun 2025

The World Bank has approved over USD 1 billion in aid for Iraq, Syria, and Lebanon, focusing on infrastructure, trade, and public service restoration. Iraq received USD 930 million for a railway modernisation project linking Umm Qasr Port to Mosul, aiming to enhance logistics and diversify its oil-dependent economy. Syria secured USD 146 million to restore war-damaged power infrastructure, supplementing a recent 5,000 MW energy deal with foreign firms. Lebanon was granted USD 250 million to repair essential public services like water, healthcare, and transport after recent conflict. The World Bank stressed these are long-term development investments, not just crisis responses, to foster regional stability and recovery.Read more

26 Jun 2025

HDB Financial Services HDFC Bank's NBFC arm launched a landmark INR 12,500 crore IPO with a strong anchor book subscription of INR 3,369 crore at the top of the price band. Public interest surged, yet only about 1% was subscribed on day one, while the GMP hit 10%, reflecting strong market optimism. The company's robust financial base, vast branch network beyond metro areas, and strategic pricing referencing peer valuations underpin the IPO's broad appeal.Read more

26 Jun 2025

Incuspaze has acquired co-working startup Trios in an all-cash-and-equity deal, expanding its footprint in Pune and boosting its revenue target of INR 350-400 crore for FY25. The deal adds 12 new centres-10 in Pune and 2 in Gurugram-bringing Incuspaze's total to over 50 centres across 18 cities and 4 million sq ft. Trios' founding team will continue in leadership roles, ensuring service continuity and client retention. The acquisition supports Incuspaze's broader growth strategy ahead of a planned INR 215 crore pre-IPO fundraise and future public listing. Trios' strong local presence and corporate clientele make the deal a strategic fit for national expansion.Read more

25 Jun 2025

At a recent MCCI webinar, Union Commerce Minister Piyush Goyal stated that India is poised to become the world's third-largest economy by 2027 and achieve a USD 5 trillion economy within three years. Highlighting India's transformation from the 'fragile five' to a top-five global economy, he credited resilient macroeconomic policies, strong banking systems, and low inflation. Emphasising decisive action during global uncertainty, he outlined the government's vision for 'Viksit Bharat 2047' with honest, inclusive, and sustainable growth. He praised India's youth-driven aspirations and reiterated the government's commitment to good governance, innovation, and international collaboration, while commending MCCI's century-old role in shaping industry policy.Read more

24 Jun 2025

The World Bank has approved a $1.5 billion loan to South Africa to support key infrastructure and transport upgrades, aimed at driving a shift toward a low-carbon economy and tackling high unemployment. The country's struggling rail, ports, and energy sectors have hurt industries like mining and auto manufacturing. The loan, offering favorable terms and a three-year grace period, is expected to ease debt pressures and foster reforms. With $55 billion allocated for infrastructure through 2026, the government hopes to spur economic growth and improve public services. However, a recent GDP forecast cut to 1.4% signals continued economic challenges ahead.Read more

24 Jun 2025

Innov8, the co-working arm of OYO, has secured a fresh INR 1,000 crore valuation following a 3% equity stake sale to prominent investors, including the Raymond Family Office, which picked up nearly 2%. This follows a prior INR 110 crore fundraise earlier this year, where approximately 10% equity was sold to several high-profile family offices. Innov8, founded in 2015 by Ritesh Malik, currently operates 30 centres across 10 major cities and posted a sharp jump in profit after tax from INR 2.5 crore to INR 62 crore in FY24. The new capital will be used to expand operations to 100 centres by year-end.Read more

24 Jun 2025

Adani Airports Holdings Ltd (AAHL), a subsidiary of Adani Enterprises and India's largest private airport operator, has secured USD 1 billion in project financing for Mumbai International Airport Ltd (MIAL). The deal includes a USD 750 million bond issuance maturing in July 2029 for refinancing, with an option to raise an additional USD 250 million. The funds will support MIAL's capital expenditure programme for modernisation and expansion. Notably, this marks India's first investment-grade bond issuance in the airport sector, with participation from global institutional investors including Apollo-managed funds, BlackRock, and Standard Chartered.Read more