06 Jun 2025

Reliance Infrastructure has fully settled its dues amounting to INR 92.68 crore with Dhursar Solar Power Pvt Ltd towards tariff claims, effectively nullifying the initiation of insolvency proceedings filed against it. The payment was made in line with the Energy Purchase Agreement terms. The National Company Law Tribunal (NCLT) had earlier admitted an insolvency petition filed by IDBI Trusteeship Services Ltd, acting on behalf of Dhursar Solar, due to outstanding dues. Reliance Infra has now announced plans to approach the National Company Law Appellate Tribunal (NCLAT) to withdraw the insolvency order, asserting its redundancy following the settlement.Read more

03 Jun 2025

AU Small Finance Bank has acquired an 11-storey office building in Bandra (East), Mumbai, for INR 371 crore from Earthworth Constructions, with an additional INR 22.26 crore paid in stamp duty. The 74,577 sq. ft. property, featuring two basements and 98 parking spaces, will serve as the bank's new corporate headquarters. This is the largest outright office space purchase by a financial institution in 2025. The acquisition follows AU's merger with Fincare Small Finance Bank, expanding its network to over 2,350 touchpoints across 25 states, serving more than 10 million customers. The bank has also applied to transition into a universal bank. The move reflects AU's strategy to consolidate operations and strengthen its Mumbai presence, signalling a trend among financial institutions towards owning prime commercial real estate. The property's location along the Western Express Highway offers key connectivity advantages.Read more

03 Jun 2025

The NCW Prime Offices Fund, a joint venture by Nuvama Asset Management and Cushman & Wakefield, has acquired Prius Platinum, a premium Grade A office building in South Delhi's Saket District Center. The 0.3 million sq. ft. property was purchased from a Kotak Alternate Asset Managers-led consortium, which had acquired it in 2021 via the Insolvency and Bankruptcy Code (IBC) process for INR 450 crore. The building has since undergone significant upgrades, including ESG-focused enhancements, achieving a 95% occupancy rate with a five-year WALE and strong lock-in periods. The NCW Prime Offices Fund recently raised INR 1,700 crore and targets a corpus of INR 3,000 crore. Its investment focus is on developing Grade A+ 'Offices of the Future' across India's top commercial hubs-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad-aligned with evolving corporate workspace trends and sustainable development practices.Read more

03 Jun 2025

IHG Hotels & Resorts marked a key milestone earlier this week with the opening of its 50th operational hotel in India Crowne Plaza Lucknow, comprising 110 keys. The hospitality giant reaffirmed its commitment to the Indian market by announcing a robust pipeline of nearly 70 hotels slated for launch over the next two to three years. Meanwhile, Indian Hotels Company Ltd (IHCL) entered into an agreement for a 101-key Gateway-branded hotel in Nathdwara, Rajasthan. The move supports IHCL's strategy to strengthen its presence in religious and cultural destinations across India.Read more

03 Jun 2025

Embassy Developments Ltd is considering the sale of a key commercial project in Whitefield, Bengaluru, valued between INR 3,200 crore and INR 3,700 crore. The 3.3 million sq. ft. project may be offered to Embassy Office Parks REIT, pending shareholder and regulatory approvals. The move aligns with Embassy's portfolio monetisation and REIT-focused strategy. The company, formerly Indiabulls Real Estate, reported a consolidated net profit of INR 122.98 crore for Q4 FY25, reversing a loss of INR 99.21 crore year-on-year. Quarterly income rose to INR 1,182.61 crore, while full-year FY25 net profit reached INR 193.63 crore, compared to a prior loss of INR 517.39 crore. Annual income also doubled to INR 2,546.97 crore. Embassy's potential collaboration with its REIT platform underscores the industry's growing shift towards asset optimisation and structured exits in India's commercial real estate market.Read more

03 Jun 2025

Mumbai-based Kanakia Group has entered into a strategic joint venture with US-headquartered Hines and Japanese conglomerates Mitsubishi Estate and Sumitomo Corporation to develop a premium 1.5 million sq ft office complex at Bandra Kurla Complex (BKC), Mumbai. This collaboration will see Kanakia provide the land parcel, while Hines, MEC, and Sumitomo step in as institutional investors and development partners. The project, spread over 3 acres, is set to feature not only office spaces but also F&B and retail elements. This marks a major milestone in Hines' expansion in India and strengthens its long-term strategic presence in Mumbai.Read more

03 Jun 2025

Adani Ports and Special Economic Zone Ltd (APSEZ) has raised INR 5,000 crore through its largest-ever domestic bond issue, a 15-year Non-Convertible Debenture (NCD) fully subscribed by LIC at a 7.75% coupon rate. The AAA-rated NCDs will be listed on the BSE. The funds will support a planned buyback of APSEZ's USD bonds and extend average debt maturity from 4.8 to 6.2 years. CEO Ashwani Gupta highlighted this as part of a broader capital management strategy to maintain conservative leverage, diversify funding, and back APSEZ's goal of handling 1 billion tonnes of cargo by FY30. In FY25, APSEZ posted INR 20,471 crore EBITDA, reducing its net debt-to-EBITDA ratio to 1.8x. Key projects include Kerala's Vizhinjam port and a Colombo terminal. The successful issuance underscores APSEZ's financial strength and long-term growth ambitions in global transport and logistics.Read more

03 Jun 2025

Prestige Estates Projects Ltd reported an 82% YoY drop in consolidated net profit to INR 25 crore in Q4 FY25, down from INR 140 crore. Total income also fell to INR 1,589.3 crore from INR 2,232.5 crore. For FY25, net profit declined to INR 467.5 crore (from INR 1,374.1 crore), with total income dropping to INR 7,735.5 crore. Amidst this downturn, the Bengaluru-based developer announced a strategic joint venture with Valor Group to co-develop a 1.5 million sq. ft. premium commercial office project in Andheri West, Mumbai, with an estimated Gross Development Value (GDV) of INR 4,500 crore. Both companies will hold equal 50% stakes, with Prestige investing INR 504 crore via an SPV. The project aims to strengthen Prestige's presence in Mumbai's thriving commercial real estate market and drive future growth.Read more

02 Jun 2025

Prime Offices Fund, jointly managed by Nuvama and Cushman & Wakefield (NCW), has acquired 'Prius Platinum', a 3 lakh sq ft Grade A office property in South Delhi's Saket District Centre for approximately INR 700 crore. The asset, 95% leased, was earlier acquired via IBC by a Kotak-led consortium and has since undergone significant upgrades. This acquisition aligns with the fund's strategy of investing in sustainable, high-quality commercial assets in major urban hubs. With strong rental income potential, the deal reflects growing investor appetite for institutional-grade real estate. NCW aims to democratise access to premium assets while advancing ESG and operational excellence.Read more

02 Jun 2025

Marwadi Chandarana Intermediaries Brokers, part of the diversified Marwadi Chandarana Group (MCG), announced its acquisition of a 75% stake in TruCap Finance, a non-banking financial company (NBFC), through a deal worth INR 207 crore. The investment, revealed earlier this week, comprises a preferential allotment of equity shares, convertible warrants, and the secondary purchase of 3.68 crore shares from TruCap's existing promoter group. With this move, MCG is set to become the new promoter, effectively phasing out the existing promoter group's shareholding. This strategic step has also triggered an open offer under SEBI regulations.Read more

02 Jun 2025

Punjab Chief Minister Shri Bhagwant Mann and Arvind Kejriwal launched the 'easy registration' system in Mohali, aimed at simplifying and digitising property registration. The new platform allows citizens to register properties at any sub-registrar office within the district, regardless of property location, eliminating the need for agents or multiple visits. Integrated with helpline 1076 and Seva Sahayak services, it benefits rural households, seniors, and busy professionals. Key features include online document submission, real-time WhatsApp updates, digital pre-scrutiny, self-scheduled appointments, and unified online payment. With a 48-hour processing guarantee and anti-corruption tools, the system promises transparency, efficiency, and citizen empowerment across Punjab.Read more

02 Jun 2025

The Bengaluru-based managed workspace provider Simpliwork Offices has leased roughly 1.32 lakh square feet across two commercial buildings in the city: Sumadhura Capitol Towers and Pardhanani Wilshire III. The move comes as the demand for flexible, high-performance workspaces continues to surge among enterprises. Currently managing about 4.5 million sq ft, the company aims to nearly double its portfolio to 9-9.5 million sq ft over the coming two years. Founded in 2018, Simpliwork operates over 85 centres across major Indian cities including Mumbai, Pune, and Hyderabad.Read more

02 Jun 2025

India's mining and construction equipment (MCE) sector is poised for a major leap, with projections indicating a growth from its current USD 16 billion valuation to USD 45 billion within the next five years. This forecast comes from a recent Vision Report jointly released by the Confederation of Indian Industry (CII) and global consultancy Kearney. The report lays out an ambitious Vision 2030 plan, positioning India as a global hub in the MCE industry. With India already the fastest-growing market among the top six global economies, surpassing even the US, Germany and Japan, this trajectory is expected to significantly enhance national GDP and employment.Read more

02 Jun 2025

Jio Financial Services and US-based BlackRock have received SEBI's approval to launch their joint mutual fund business in India. The new venture, Jio BlackRock Asset Management, is a 50:50 partnership aimed at delivering digital-first investment products tailored for Indian investors. Industry veteran Sid Swaminathan, formerly of BlackRock, will lead the venture as MD and CEO. The platform will integrate BlackRock's advanced risk management technology, Aladdin, offering retail and institutional clients sophisticated investment tools. This marks a significant step for Jio Financial Services, which has been expanding post its 2023 demerger from Reliance, with interests in Jio Payments Bank and upcoming wealth management and broking services. For BlackRock, the venture enhances its footprint in India's fast-growing asset management market. The collaboration aims to democratise access to high-quality investment solutions through Jio's extensive digital infrastructure.Read more

02 Jun 2025

CapitaLand Ascendas REIT (CLAR) has announced the acquisition of two prime properties in Singapore for a combined value of SGD 700.2 million (approximately USD 543.6 million). The first is a Tier III colocation data centre located at 9 Tai Seng Drive, situated in a network-dense area favored by cloud providers and telecom operators. The second is a premium business park asset at 5 Science Park Drive, located in the one-north district, a hub for technology and research institutions. Both properties are fully leased to reputable tenants, ensuring stable and predictable income streams. These acquisitions are expected to increase CLAR's Singapore portfolio value by 6% to approximately SGD 11.7 billion.Read more

Pradeep Kumar Rangi, Chief Risk Officer IIFL Home Finance

02 Jun 2025

In the past year and a half, two major cyber breaches targeting a domestic brokerage and a North American mortgage servicer led to the exposure of approximately 25 million customer records. These incidents highlighted recurring vulnerabilities-misconfigured cloud storage, outdated virtualisation platforms, and weak static identity protection. The Indian Computer Emergency Response Team (CERT-In) has since sounded an alarm, with the Bombay Stock Exchange issuing a red alert for the BFSI sector earlier this week. Housing finance companies (HFCs), due to their long data retention cycles and sensitive documentation requirements, face uniquely high stakes. Regulatory mandates such as the RBI's 2023 IT Governance directives and the Digital Personal Data Protection (DPDP) Act are now shaping a strict cyber-resilience regime for such entities.Read more

30 May 2025

The Indore district administration has initiated legal proceedings to cancel property registrations in unauthorised colonies, aiming to curb rampant illegal development in the region. This decisive action follows directives from the district magistrate, who has also urged that developers behind these illegal layouts be held accountable. In addition to reversing plot sales, the administration plans to ensure that affected buyers receive refunds. This move reinforces the city's stance on enforcing urban planning regulations and discouraging unregulated expansion.Read more

30 May 2025

In a recent initiative, NITI Aayog has proposed a dedicated financing scheme under the Ministry of Micro, Small, and Medium Enterprises (MSME) to support medium-sized firms. The proposal includes concessional loans capped at INR 25 crore, with a maximum of INR 5 crore per request, and the introduction of a medium enterprise credit card with a pre-approved limit of up to INR 5 crore. Additionally, the report recommends allocating 25-30% of the Self-Reliant India (SRI) Fund exclusively for medium enterprises to bolster research and development (R&D) efforts. This move follows the recent expansion of the 'medium' enterprise definition in the Union Budget 2025, aiming to provide better financial support and promote growth among these firms.Read more

30 May 2025

Bengaluru-based real estate developer Sumadhura Group has ventured into the co-working sector with the launch of its maiden centre in Whitefield, Bengaluru, marking the debut of its new vertical, Workship. Spread across 1.3 lakh square feet within Capitol Towers, the centre aims to cater to the rising demand for managed flexible workspaces, particularly from corporates in sectors such as IT/ITeS, agri-tech, and pharma. The company plans to establish three additional centres this fiscal, expanding its managed workspace portfolio to 5 lakh square feet. Sumadhura has previously completed 54 real estate projects totalling over 13 million square feet, with a primary focus on Bengaluru and Hyderabad.Read more

30 May 2025

Knight Frank's latest report highlights Pune's commercial real estate growth, with leasing volumes rising 19% year-on-year to 8 million sq. ft. in 2024. Kharadi has emerged as a key business hub, attracting top firms like Citicorp, Amazon, and Deloitte, driven by its connectivity and growing professional base. Amid this surge, SQUAREA has positioned itself as a strategic advisor linking investors to high-yield Grade-A assets. Its latest collaboration with Omicron Group-Omicron Business Landmarks Kharadi NX-offers 360,000 sq. ft. of premium office space in a 26-storey tower. With sustainable design, modern amenities, and strategic location, the project reflects Kharadi's rise as a prime commercial destination.Read more