17 Jul 2025

Office space solutions provider 91Springboard has made its foray into Chennai by leasing an entire commercial building in Guindy. With this 28,000 sq ft facility, Chennai becomes the ninth city in the company's pan-India network, which now spans over 1.5 million sq ft and includes 30,000 desks. The new centre will feature a mix of ready-to-use private suites and customised built-to-suit workspaces. 91Springboard attributed Chennai's commercial real estate growth to rising demand from sectors such as IT, BFSI, and Global Capability Centres.Read more

17 Jul 2025

ITC Hotels Ltd reported a 53% year-on-year rise in net profit for Q1 FY26, reaching INR 133.71 crore. This growth was supported by increased travel demand and a boost in operating revenue, which climbed to INR 815.54 crore. Higher room rates, solid occupancy, and strong food and beverage performance across urban and resort destinations contributed to the uptick. Expenses rose due to service upgrades and inflationary costs, but margins remained stable. Pursuing an asset-light expansion model, the company continues to grow its presence via managed properties. A rebound in corporate travel, leisure tourism, and MICE activities has further strengthened sectoral momentum.Read more

17 Jul 2025

Navi Mumbai witnessed a notable 40% rise in demand for premium office spaces in 2024, reaching 5.8 million square feet, according to CRE Matrix. With its status as one of India's most affordable office destinations averaging INR 65 per sq. ft. the region has drawn major leasing activity, particularly in hubs like Airoli, Ghansoli, Vashi, and Belapur. Gross leasing during the first half of this year surpassed 2.7 million sq. ft., and ongoing infrastructure projects such as the upcoming Navi Mumbai International Airport are expected to further stimulate leasing momentum.Read more

17 Jul 2025

HDB Financial Services reported a 2.4% year-on-year drop in net profit to INR 568 crore for Q1 FY26. This decline was primarily due to a sharp rise in loan loss provisions (over 60% to INR 670 crore) and an increase in gross stage-3 assets (NPA ratio up to 2.56%). Despite this, gross loans grew 14.3% to over INR 1 lakh crore. Disbursements fell due to reduced enterprise lending, but revenue from operations rose 15% to INR 4,465 crore. This is the non-bank lender's first quarterly report post-listing, highlighting mixed financial performance.Read more

17 Jul 2025

Belagavi City Corporation (BCC) recorded an all-time high property tax collection of INR 44.7 crore in the first quarter of FY26. This milestone was driven by an aggressive early-payment incentive campaign and structured tax recovery strategy. The civic body had already collected INR 30.8 crore in April alone without any special campaign which set the tone for this record performance. With an annual target of INR 75 crore and an internal goal of INR 79 crore, the corporation is now focusing on tackling unauthorised constructions and chronic defaulters by initiating stringent legal and recovery actions.Read more

17 Jul 2025

Container Corporation of India Ltd (CONCOR) has signed a strategic Memorandum of Understanding with the Dubai-based Rais Hassan Saadi (RHS) Group to explore collaborative opportunities in the overseas shipping and logistics domain. The agreement aims to provide fully integrated, cost-effective, and seamless end-to-end logistics services across international markets, with a specific focus on improving multimodal connectivity. Leveraging CONCOR's expertise in inland containerized freight and RHS Group's stronghold in global shipping and freight forwarding, the partnership is poised to enhance India's presence in global logistics corridors and contribute to a more connected and efficient international supply chain framework.Read more

16 Jul 2025

The Executive Centre is planning an Initial Public Offering (IPO) in Mumbai to raise INR 26 billion (USD 303 million). This aims to capitalize on India's growing demand for workspaces. The flexible workspace manager serves 51,000 customers across Asia and Australia. India's flexible workspace industry is projected to grow to USD 9 billion by 2028. Other firms are also going public. The Executive Centre has engaged Kotak Mahindra Capital Co. and ICICI Securities Ltd. to manage its upcoming listing.Read more

16 Jul 2025

Prayagraj is set to witness the implementation of Uttar Pradesh's overhauled Bed & Breakfast (B&B) and Homestay Policy 2025, aiming to establish approximately 800 new registered homestay-cum-B&B units in the city. The initiative, overseen by the state's tourism department, intends to enhance accommodation infrastructure, especially around religious and tourist hotspots. It replaces the earlier paying guest model with a formalised framework that mandates safety features, owner occupancy, limited room capacity, and cultural engagement. The registration process is being eased for interested residents, with nominal registration fees, NOC-based approvals, and structured classification into Silver and Gold categories. The policy also carries wider implications for employment generation, women empowerment, and tourism-led economic growth in the region.Read more

16 Jul 2025

The Indian real estate sector recorded transactions totalling USD 2.5 billion during the first half of 2025, marking an 8% decline in value compared to the same period in 2024, according to Grant Thornton Bharat. While deal volume rose from 40 to 45 transactions, the total value dipped from USD 2.7 billion. The deals included IPOs and Qualified Institutional Placements, with institutional interest in commercial platforms remaining strong.Read more

16 Jul 2025

Property Share Investment Trust is launching an INR 473 crore initial public offering (IPO) for PropShare Titania, its second Small and Medium Real Estate Investment Trust (SM REIT), with the public issue scheduled to open shortly. The IPO involves only a fresh issue, with units priced between INR 10 lakh and INR 10.6 lakh. Funds raised will be allocated for acquiring Titania SPV, loan repayments, and corporate expenses. PropShare Titania comprises a fully-leased 4.37 lakh sq ft office space in G Corp Tech Park, Mumbai, with Fortune 500 and blue-chip tenants.Read more

16 Jul 2025

WeWork India has secured approval from SEBI to launch its Initial Public Offering, paving the way for its promoters Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd to sell their stakes via an Offer for Sale. Backed by Embassy Group and operating under the WeWork brand since 2017, the company is riding a wave of strong demand for flexible workspaces across major Indian cities. While it recorded a net loss in FY24, it turned profitable in the first half of FY25. The IPO, which will not raise fresh capital, aims to enhance the company's visibility and liquidity in public markets.Read more

16 Jul 2025

India is on track to become a USD 10 trillion economy within the next ten years, with Global Capability Centers (GCCs) projected to contribute USD 0.5 trillion in gross value added, according to Gunjan Samdani, Co-Chairman of Goldman Sachs India. Speaking at the CII GCC Summit, Samdani outlined that GCCs could generate employment for 20-25 million people in the coming decade. He noted that 65% of global growth until 2035 will emerge from developing nations, with India leading the momentum due to its demographic advantage, highly skilled STEM workforce, and AI readiness backed by national policy initiatives. As global technology spending rises, AI and digital transformation are expected to drive both global and Indian economic reconfiguration.Read more

15 Jul 2025

India's wholesale inflation slipped back into the negative zone this past month after remaining positive in May. The Wholesale Price Index (WPI) fell to (-) 0.13%, influenced by declining prices in food articles, mineral oils, and basic metals. This marks a renewed phase of deflation, reminiscent of April 2023 and July 2020, when WPI similarly dipped below zero. Retail inflation, too, continued its downward trend, hitting a six-year low in May and staying well within the Reserve Bank of India's comfort range. With inflation stabilising, the Central Bank is expected to maintain focus on growth-friendly policies.Read more

15 Jul 2025

Fairmont Hotels & Resorts, in collaboration with Keystone Resorts Pvt. Ltd., has opened the Fairmont Udaipur Palace in the Aravalli Hills. Spanning 18 acres, the property includes 327 rooms, eight culinary destinations, seven event venues, a wellness sanctuary, and detailed Rajasthani craftsmanship. The palace pays homage to Rajasthan's cultural legacy through architecture, rituals, and art, while offering immersive stays and curated experiences for weddings, wellness, and leisure. This launch marks a significant addition to Fairmont's presence in India and redefines luxury hospitality in Udaipur.Read more

15 Jul 2025

Indian real estate attracted a record USD 2.4 billion in private equity during the first half of 2025, marking a 38 percent increase year-over-year. The rush in capital was particularly intense in Q2, with investments doubling to USD 1.6 billion. While commercial office spaces remained the dominant asset class, there was a marked shift toward land deals, hospitality, and student housing. A surge in land acquisitions accounting for 40 percent of total inflows was led by Mumbai, while foreign institutional investors contributed more than three-quarters of the total, underscoring sustained global confidence in India's real estate potential.Read more

15 Jul 2025

DLF Ltd., India's largest realty firm, reported record sales bookings of INR 21,223 crore in FY25, a 44% increase, and a net profit of INR 4,366.82 crore. The company plans to launch housing properties worth over INR 17,000 crore this fiscal year, targeting INR 20,000-22,000 crore in sales for 2025-26. Its residential and rental businesses saw robust growth, with projects in Gurugram, Chennai, Delhi, and Goa. DLF aims to meet market needs and deliver on targets, reflecting confidence in India's economic fundamentals and continued investment in its 45 million sq ft annuity portfolio and over 280 million sq ft development potential.Read more

15 Jul 2025

Finance Minister Smt Nirmala Sitharaman stated that Global Capability Centres (GCCs) in India could contribute up to USD 200 billion to the country's economy by 2030 and significantly increase job creation. She highlighted the rapid pace of GCC establishment, with one new centre being launched weekly in 2024. Currently, around 50% of Fortune 500 companies operate GCCs in India, employing 2.16 million professionals. This workforce is projected to expand to 2.8 million by the end of the decade, reflecting the sector's steady 11% CAGR over the past five years.Read more

15 Jul 2025

India's tax administration has witnessed a dramatic overhaul over the past decade, driven by comprehensive digitization efforts that have transformed taxpayer services. Refunds issued by the Income Tax Department have jumped 474%, significantly outpacing the growth in tax collections. The average time taken to process refunds has also plunged by 81%, from 93 days to just 17. This shift is powered by faceless assessments, pre-filled forms, real-time TDS adjustments, and an expanding taxpayer base. The surge in refunds points to increasing voluntary compliance and rising formalization of the economy.Read more

15 Jul 2025

Electric vehicle major Tesla is set to make its formal foray into the Indian market with the launch of its first experience centre at Bandra Kurla Complex, Mumbai. The event, positioned as the "launch of Tesla in India", will mark the company's official entry into the country. Tesla has already leased warehouse space in Mumbai and shipped its first set of Model Y rear-wheel drive SUVs from China. However, its push into the Indian market comes despite unresolved concerns over import tariffs and the absence of any local manufacturing plans.Read more

15 Jul 2025

Reliance Infrastructure has secured a credit rating upgrade from India Ratings and Research, marking a three-notch improvement from 'IND D' to 'IND B / Stable / IND A4'. This development follows the company's extensive deleveraging, resulting in net zero debt with banks and financial institutions. Ind-Ra also withdrew earlier proposed ratings on fund-based and non-fund-based limits that were never availed. The company has ensured timely standalone debt servicing and completed one-time settlements for guaranteed debts via strategic capital infusion through warrant issues.Read more