23 Jun 2025

The Nashik Municipal Corporation (NMC) is set to auction properties of 73 major property tax defaulters next month, targeting those who ignored earlier confiscation notices. Each defaulter owes over INR1 lakh, and the crackdown follows warnings sent to 425 such cases. The city faces over INR250 crore in unpaid property taxes from more than 1.5 lakh defaulters. Earlier this fiscal year, NMC ran an amnesty scheme offering up to 90% penalty rebates, which over 60,000 defaulters used, resulting in INR30 crore in waived penalties. Property tax is crucial for city services, and auctions are being used as a last-resort recovery method.Read more

23 Jun 2025

The Asia Pacific hospitality sector is undergoing a transformative shift, with global hotel operators increasingly dominating the landscape. Over 86% of future hotel supply in the region is expected to come through international brands. This rise is fuelled by brand proliferation, acquisitions, and strategic partnerships tailored to local markets. Branded hotels in the region are outperforming independent ones in revenue and performance, backed by global loyalty programmes and stronger distribution systems. Investors are also actively favouring branded properties, leveraging opportunities in rebranding and value-add strategies to maximise returns.Read more

23 Jun 2025

Metro Global Solutions Center Pvt Ltd (MGSC), the Indian technology and solutions unit of international wholesaler Metro, has leased 50,000 sq ft of office space from coworking space provider 315Work Avenue in Pune. This transaction expands 315Work Avenue's footprint in the city to six centres, encompassing 0.6 million sq ft and around 12,000 seats in projects by developers like Ascendas, Panchshil, and Raheja. Nationwide, the company operates across 45 locations in cities including Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, with a total portfolio of 3 million sq ft and 60,000 seats.Read more

23 Jun 2025

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more

23 Jun 2025

Ferguson, a major distributor in North America's USD 340 billion construction market, has inaugurated its Global Capability Centre (GCC) in Bengaluru in collaboration with ANSR. This move forms part of Ferguson�s larger digital transformation drive, aiming to elevate its global operational capacity, speed, and customer experience. The centre will play a vital role in areas such as AI, software engineering, ERP, CRM, and analytics. Over 50 professionals have already joined the facility, which is projected to scale significantly in the coming years while offering leadership roles and tech career prospects.Read more

19 Jun 2025

Volkswagen India has launched two Performance Centres in Chennai- on Mount Road and in Ambattur- as part of its premium retail strategy to showcase the new Golf GTI and Tiguan R-Line. These centres mark the first in a planned network of 12 across the country. Deliveries of the Golf GTI have begun, with expanded access to the Tiguan R-Line also underway. Designed to offer a luxury experience through multisensory engagement, the centres aim to elevate Volkswagen's brand presence. With this move, the company's Tamil Nadu network now includes 27 sales and 19 service outlets, signalling a strong focus on upscale customer engagement.Read more

19 Jun 2025

Agoda CEO Omri Morgenshtern has announced plans to enhance the company's flight booking services in India, driven by strong local demand and successful hyperlocal strategies. Citing Ministry of Tourism data, he noted India saw 18.9 million international arrivals in 2023-but only 9.5 million were true foreign tourists, still below pre-pandemic levels. Morgenshtern pointed to complicated visa processes, poor infrastructure, and limited flight options as key barriers to growth. He advocated for more budget-friendly flights and better connectivity. As India's travel sector heats up, Agoda is positioning itself to meet rising expectations from both domestic and international travellers.Read more

19 Jun 2025

Global investment firm Blackstone has made a major foray into eastern India's retail sector by acquiring South City Mall in Kolkata for INR 3,250 crore. The one million sq ft mall, known for its high footfall and annual turnover exceeding INR 1,800 crore, has been described as an iconic destination for shopping and leisure. Real estate consultancy Anarock served as the exclusive transaction advisor in the deal. Blackstone plans to leverage its retail expertise to enhance the mall's long-term performance.Read more

19 Jun 2025

West Bengal has launched a major initiative to improve fire safety in restaurants and commercial establishments, with a focus on rooftop venues. Led by Mayor Firhad Hakim and a dedicated task force, the state is drafting a new Standard Operating Procedure (SOP) that will soon seek formal approval. A key decision is the ban on selling rooftop spaces for general commercial use, a step aimed at reducing fire risks. All commercial and office buildings will now require third-party fire audits, especially those flagged as vulnerable in Kolkata. Additionally, disaster management teams will receive enhanced training for fire-related emergencies, strengthening urban safety preparedness.Read more

17 Jun 2025

After years of uncertainty, the Mumbai Hockey Association (MHA) has secured a renewed lease for its Churchgate stadium, valid till 2046. This move marks a revival for Mumbai's hockey scene, which had been struggling amid governance changes. Though the lease was originally signed in 2017, confusion arose when the Maharashtra government briefly cancelled it over unmet development promises. The new agreement restores MHA's control, which had been diminished after Hockey India's one-state-one-association policy sidelined the body. With the lease now confirmed, MHA plans to restart tournaments and add a dedicated practice ground-opening new opportunities for budding hockey players in the city.Read more

17 Jun 2025

Bank of Baroda has placed the highest bid-INR 370 crore-for 83,000 sq. ft. of office space in Godrej BKC, formerly owned by Jet Airways. The auction, held under the Insolvency & Bankruptcy Code, had a reserve price of INR 335.24 crore. While the bank leads the bidding, final ownership depends on Brookfield Asset Management, which already owns two floors in the same building. The Godrej BKC property, a 19-story tower built by Godrej Properties and Jet Airways, includes high-profile tenants like the World Bank and PayPal. The space was recently unsealed by NCLT after earlier closure by the BMC due to unpaid dues.Read more

17 Jun 2025

Raymond Ltd has announced that Raymond Realty Ltd, its real estate arm, will be listed on Indian stock exchanges in Q2 of the current financial year. The move follows a completed demerger, effective from May, which grants Raymond shareholders one share in Raymond Realty for each share held. With property sales reaching INR 2,310 crore last year, the realty division now operates as a standalone entity. This follows a similar listing of Raymond's lifestyle business in 2024. Backed by strong profits and a strategic focus on core sectors, the group aims to unlock value and strengthen its position in India's growing property market.Read more

17 Jun 2025

ArisInfra Solutions Ltd, a tech-driven B2B firm in construction material procurement, is launching its IPO next week with a price band of INR 210-INR 222 per share. The issue, comprising only fresh equity shares worth INR 499.6 crore, values the company at nearly INR 1,800 crore. Funds will be used to boost working capital, invest in subsidiary Buildmex-Infra, acquire partial stakes in ArisUnitern Re Solutions, repay debt, and meet general expenses. The company has delivered over 10.35 million metric tonnes of materials through 1,458 vendors across 963 pin codes. Shares will list shortly after the issue, with JM Financial, IIFL Securities, and Nuvama as lead managers.Read more

17 Jun 2025

Japan's Toyo Engineering Corporation and MODEC Inc have jointly inaugurated their Global Capability Centre-TOYO MODEC OFS India Pvt Ltd-in Bengaluru. Located in Godrej Centre, Indira Nagar, the 1,00,000 sq ft facility will support international Floating Production Storage and Offloading (FPSO) projects. Aimed at boosting innovation and delivery efficiency, the centre currently employs 200 professionals and plans to expand to 750 within three years. This move highlights India's role as a key engineering talent hub. Inaugurated by Japan's Consul General, the centre reflects deepening Indo-Japanese collaboration in energy and infrastructure, while creating high-value engineering and procurement jobs.Read more

13 Jun 2025

Hyland, the creator of The Content Innovation Cloud, has inaugurated its new office in Hitech City, Hyderabad, reflecting a pivotal step in its global expansion drive. The new centre aims to serve as a strategic innovation hub, empowering Hyland to cater effectively to clients across the Asia Pacific region. The facility, which complements the company's existing presence in Kolkata, will focus on product development, customer success, and technical support while creating key employment opportunities and drawing from Hyderabad's vast tech talent pool.Read more

13 Jun 2025

Incture, a prominent provider of AI and digital solutions for SAP clients, has inaugurated its latest facility the Trinoyon Digital Product & Technology Center, in Kolkata. Marking its sixth centre in India and second in Eastern India, this strategic expansion underlines Incture's ambitions to scale innovation and regional growth. The new hub, situated in Sector 5, Salt Lake, is expected to house over 300 employees within three years and will play a crucial role in the development of the AI-powered Cherrywork suite. The centre also aims to serve enterprise customers globally as an SAP implementation hub.Read more

13 Jun 2025

Invest UP recently held a high-profile Global Capability Centres (GCC) conclave in Lucknow, unveiling its GCC Policy-2024 aimed at transforming Uttar Pradesh into a top destination for international GCCs. The one-day event attracted around 20 major firms including Microsoft, TCS, HCL, Standard Chartered Bank, and Trident who committed to expanding operations and new centres. Officials underscored UP's advantages: skilled young workforce, competitive costs (living and business), robust infrastructure and digital ecosystem, and incentive-rich policies. Investment roadmaps were discussed, including future conclaves in Bengaluru, Chennai, and Hyderabad, plus international roadshows to attract global capital.Read more

13 Jun 2025

Amazon Development Centre India, along with its Seller Services unit, has leased over 1 million sq ft of office space in a tower near Kattigenahalli on Airport Road, North Bengaluru, for a monthly rent of INR 6.1 crore. The 10-year lease, signed via Sattva Horizon, began in October and includes a 15% rent escalation every three years, with no upfront deposit. The 11-floor building, located less than 30 minutes from the airport, can accommodate 6,000-7,000 employees, with Amazon paying INR 62.04 per sq ft for a carpet area of 714,000 sq ft. This large-scale commitment strengthens the commercial appeal of the Airport Road corridor, where residential rents for 2BHK units range from INR 20,000-25,000 and sale prices start at INR 80 lakh.Read more

13 Jun 2025

SEBI has introduced a three-month settlement window for stock brokers involved in potential algorithmic trading violations. This applies to brokers who used third-party algo tools without approval or allowed client-side execution in breach of regulations. To qualify, brokers must admit default and pay penalties, with exclusions for those with prior SEBI penalties or ongoing cases. The move supports SEBI's ongoing efforts to regulate tech-driven trading and enforce stronger compliance standards. In a separate directive, SEBI has mandated that all legacy Venture Capital Funds (VCFs) transition to the Alternative Investment Fund (AIF) framework by mid-2025. A one-year grace period has been allowed for liquidation of expired schemes, after which no extensions will be granted. The AIF structure, introduced in 2012, offers enhanced oversight and transparency, and is now considered essential for managing India's evolving investment ecosystem.Read more

13 Jun 2025

The Navi Mumbai Municipal Corporation (NMMC) has introduced a WhatsApp chatbot service, enhancing its digital initiatives to simplify civic interactions. Under the guidance of Municipal Commissioner Dr Kailas Shinde, this tech-driven facility allows residents to access property tax and water bill information, and make payments directly via WhatsApp. Citizens can initiate the service by sending 'Hi' to the official chatbot number 8291920504. This innovation complements existing digital platforms such as the NMMC website and My NMMC app, along with payment modes like UPI, credit/debit cards, and mobile wallets.Read more