09 Jul 2025

A case has been registered against the former promoter of Cox & Kings and eight others for allegedly defrauding SBI Cards and Payment Services of INR 105 crore. The complaint, filed in Mumbai, alleges a conspiracy to create forged balance sheets between 2012 and 2019 to obtain corporate credit card facilities, leading to a loss for SBI Cards. The Cox & Kings brand was acquired by Singapore-based Wilson & Hughes in May 2024 through an NCLT process for approximately INR 12 crore, and the new owners state they are distinct from the former management and its past liabilities, focusing on a new beginning for the brand.Read more

09 Jul 2025

The Securities and Exchange Board of India (SEBI) is amending Alternative Investment Fund (AIF) rules to enhance investor parity and market integrity. New guidelines mandate pro-rata rights for investments and distributions, restricting differential rights unless specific conditions apply. The regulator also proposes investment flexibility for Category II AIFs and has heightened due diligence requirements to curb misuse like "evergreening" stressed loans and money laundering, following concerns from RBI and investigations into billions in questionable AIF investments. These changes aim for greater transparency and accountability in India's AIF market.Read more

09 Jul 2025

Ventive Hospitality and Marriott International have signed management contracts for seven new hotels, comprising 1,548 rooms, across India and Sri Lanka. These hotels are expected to open in 4-5 years. The partnership marks brand debuts in locations like Sri Lanka, Varanasi, Pune, Navi Mumbai, and Mundra. This initiative will double Ventive's portfolio to over 4,000 keys, with initial capex of INR 700-750 crore for three properties. It supports Ventive's expansion in Central India and Marriott's growth strategy in a key global market.Read more

09 Jul 2025

Jio BlackRock Asset Management has successfully raised INR 17,800 crore (USD 2.1 billion) in its debut mutual fund offering. The three-day New Fund Offer, held from June 30 to July 2, attracted over 90 institutional investors and more than 67,000 retail investors across three schemes. This significant fundraise is seen as an endorsement of the company's digital-first approach and investment strategies. The 50:50 joint venture, which received its license in May, plans broader expansion in India's financial market, having recently secured approval for broking and clearing services.Read more

09 Jul 2025

Sobha Ltd. reported an 11% increase in sales bookings to a record INR 2,078.8 crore in Q1 FY26, selling 14.44 lakh sq ft of area. This marks its highest-ever quarterly sales value. The Bengaluru-based firm attributes growth to urban migration, commercial space demand, and declining interest rates. It launched two new housing projects, 'Sobha Aurum' in Greater Noida (420 apartments, 7 lakh sq ft saleable area, INR 800 crore investment) and one in Kochi, during the quarter, indicating continued expansion across 13 cities.Read more

09 Jul 2025

Lodha Developers Ltd. reported a 10% growth in sales bookings, reaching INR 4,450 crore in the first quarter of the current fiscal year. This performance comes despite market disruptions in the early part of the quarter. The Mumbai-based real estate firm aims to meet its annual sales bookings target of INR 21,000 crore for FY26. The company also states it has strengthened its launch pipeline, indicating continued confidence in housing demand.Read more

09 Jul 2025

Britain's construction industry showed signs of recovery in June, with its PMI reaching a six-month high of 48.8 from 47.9 in May. This improvement was led by housing activity expanding for the first time since September. However, the commercial building sector contracted, its fastest rate since mid-2020, due to economic concerns and weak client confidence, causing a decrease in new orders. This presents a mixed picture for the UK construction market, balancing residential growth with commercial decline.Read more

09 Jul 2025

The Municipal Corporation of Delhi (MCD) has organized 1,862 property tax camps across its 12 zones to boost participation in its Amnesty Scheme, launched in May. Over 48,546 taxpayers have already been assisted. Under the 'Sumpattikar Niptaan Yojana' (SUNIYO), taxpayers can receive a full waiver of past property tax, interest, and penalties incurred before FY 2020-21, by paying current and five preceding fiscal years' principal tax. The MCD plans more camps to extend these benefits and improve tax collection across the city.Read more

09 Jul 2025

West Bengal's government will make approximately 20 acres of land available for residential, commercial, and for mixed-use developments in New Town, Kolkata. The land will be allotted on a freehold basis through e-auction by HIDCO next month. This initiative focuses on Action Areas II and III, where IT companies are establishing offices. Starting bids for plots range from INR 26 crore to INR 292.2 crore. The move aims to accelerate development in the planned city, which covers about 7,598 acres and is projected to house 10 lakh people.Read more

08 Jul 2025

Incuspaze, a managed office space provider, has acquired Vskout, a real estate analytics company. This acquisition aims to integrate Vskout's AI-driven data analytics into Incuspaze's platform. The move seeks to offer data-driven workspace solutions and enhance decision-making for clients by providing insights into market trends and optimal location strategies. This acquisition reflects a trend of consolidation in the Indian proptech sector, as companies leverage technology for competitive advantage in managed office spaces.Read more

08 Jul 2025

Sarovar Hotels has signed a new property in Gwalior, Madhya Pradesh, in collaboration with Prime Land Estates. The 100-key Sarovar Portico Gwalior hotel is scheduled to open in 2029. This marks a step in Sarovar Hotels' expansion in Central India, targeting growth in tourism and business travel. The project aims to combine modern amenities with regional heritage, contributing to the hospitality sector in Gwalior.Read more

08 Jul 2025

Keystone Realtors Ltd., operating under the 'Rustomjee' brand, reported record pre-sales of INR 1,068 crore in Q1 FY26, a 75% annual increase. Customer collections also rose 19% to INR 575 crore. The Mumbai-based firm launched three new projects with a saleable area of 0.91 million sq ft and INR 4,000 crore GDV. It also secured three new housing society redevelopment projects in the June quarter, expected to generate INR 7,727 crore revenue from 3.25 million sq ft of saleable area.Read more

08 Jul 2025

India's office space leasing is projected to exceed 90 million sq ft in 2025, surpassing last year's record. In H1 2025, gross leasing reached 41.7 million sq ft across eight cities. Pune, Chennai, and Delhi-NCR saw growth, while Mumbai, Bengaluru, Hyderabad, Ahmedabad, and Kolkata experienced declines. Global Capability Centers (GCCs) remain a key driver, contributing 27% of total leasing. Despite varied city performance, the market shows structural strength and is expected to maintain momentum due to economic growth and strategic business expansion.Read more

08 Jul 2025

The Retailers Association of India (RAI) convened the first Visakhapatnam Retail Summit at Novotel to highlight Andhra Pradesh's fast-evolving retail sector. The event gathered top industry leaders and brands such as Neeru's, CMR, Kankatala, and BigBasket to discuss profitability beyond metro markets, tech integration, and customer shifts in Tier-2 and Tier-3 cities. Speakers explored how Andhra's pro-business policies and rising consumer aspirations are transforming Visakhapatnam into a strategic retail hub. Key themes included localisation, digital access, and the balance between tradition and modernisation.Read more

08 Jul 2025

Monsoon travel is gaining momentum among Gen Z and Millennials, with bookings up 46%, as young travellers embrace scenic getaways during the off-season, say industry experts. Thomas Cook and SOTC note rising interest in weekend breaks, spiritual circuits, and nature trails, especially from Tier II and III cities. Cleartrip's PeekABoo data shows 24-30-year-olds opting for 70-hour monsoon breaks over workweeks, with short hotel stays and longer flights becoming popular. Despite increased demand, hotel prices rose just 3%, and airfares 13%. Ixigo reports 25-30% growth in flight bookings to emerging destinations like Port Blair and Dehradun, spurred by pent-up demand, last-minute deals, and geopolitical concerns.Read more

08 Jul 2025

Bengaluru-based Sattva Group will invest INR 800 crore in Goa over the next two years, expanding its footprint following the success of its first project, Sattva Water's Edge. The move taps into growing demand for first and second homes, driven by Goa's improved connectivity and infrastructure. According to PropEquity, Goa's housing sales rose 5% to 3,585 units in 2024, with sales value jumping 32% to INR 5,726 crore. Sattva has completed 74 million sq ft across India and is planning entry into Mumbai. The Group is active in coworking, coliving, warehousing, and hospitality, and has filed a INR 6,200 crore REIT IPO with Blackstone-backed Knowledge Realty Trust.Read more

08 Jul 2025

Marathon Nextgen Realty Ltd (MNRL) has raised INR 900 crore through a Qualified Institutions Placement (QIP) to support expansion across the Mumbai Metropolitan Region. The QIP, priced at INR 555.13 per share, drew strong interest from top institutional investors like Quant Mutual Fund and Kotak Alternate Asset Managers. Post-issue, FII and DII holdings stand at 9.9% and 16.66% respectively. The funds will bolster MNRL's development pipeline, reduce debt, and enhance its financial strength. CMD Chetan Shah called the raise a strong endorsement of the company's strategy. The move follows MNRL's amalgamation scheme aimed at consolidating assets and improving governance for future growth.Read more

08 Jul 2025

Contractors working on Maharashtra government projects are protesting delayed payments totaling INR 89,000 crore, pending for over a year. Represented by the Mahasangh, Builders Association of India, and Maharashtra State Engineers Forum, they appealed to over 30 district collectors for urgent dues clearance. The unpaid amounts cover work like roads, building repairs, and relief projects. Milind Bhosale, president of the Contractors Mahasangh, said only 5% of payments were released by FY24-end, despite a surge in sanctioned projects. The delay is affecting over 5 lakh contractors, impacting supplier payments, employment, and state economic growth. Protestors are questioning the state's fiscal planning amid mounting distress.Read more

08 Jul 2025

OYO's European holiday home brand, DanCenter, plans to add 250 vacation homes in India this fiscal amid growing demand for premium getaways. After launching in Goa in February 2025, DanCenter added 50 homes in Q1 and aims to add 200 more by year-end. The portfolio includes luxury villas and serviced apartments across locations like Lonavala, Kufri, Ramgarh, Chennai, Jaipur, and more. New expansions are planned in Telangana and the North-East. Founded in Denmark in 1957 and acquired by OYO in 2019, DanCenter's Indian growth reflects its strategy to tap into the country's rising appetite for upscale, professionally managed vacation stays.Read more

08 Jul 2025

Lenders of Jaiprakash Associates Ltd (JAL) have rejected a resolution plan submitted by Jaypee Infratech, now owned by Suraksha Group, due to late submission and lack of earnest money. JAL, undergoing insolvency since June 2024 with INR 57,185 crore in claims, received resolution plans from five other bidders-Adani, Vedanta, Dalmia Bharat Cement, Jindal Power, and PNC Infratech. The Committee of Creditors declined Jaypee Infratech's request to reconsider its bid. Some of the submitted plans are conditional, tied to pending legal matters. JAL owns major real estate, hotel, and cement assets in NCR, MP, and UP. NARCL is the largest claimant after acquiring JAL's debt from SBI-led lenders.Read more