30 May 2025

Awfis Space Solutions Ltd, a prominent co-working space provider, reported a significant increase in its consolidated net profit for the March quarter, soaring to INR 11.23 crore from INR 1.37 crore during the same period a year earlier. Its total income for the quarter rose to INR 359.45 crore compared to INR 241.10 crore previously. Over the 2024-25 financial year, the company swung to a net profit of INR 67.87 crore, a stark turnaround from the net loss of INR 17.56 crore recorded in the preceding year. Total income during the fiscal climbed to INR 1,260.7 crore from INR 874.8 crore. In a major leadership change, Sumit Lakhani was elevated as the Chief Executive Officer.Read more

30 May 2025

According to real estate consultancy Anarock, office rents have increased significantly over the last two and a half years in major Indian metropolises, especially the Mumbai Metropolitan Region (MMR). Despite global economic uncertainties, companies, especially US-based firms, are driving demand for premium Grade A workspaces. MMR led the growth with a 28% surge in rents, followed by Hyderabad, Delhi-NCR, and Bengaluru. Industry leaders noted that the rebound in rentals reflects India's improving infrastructure, abundant talent pool, and a clear push for a return to physical offices by global corporations.Read more

30 May 2025

Oyo-owned Belvilla has acquired Australian short-term rental-platform MadeComfy in a cash-and-stock deal, issuing shares worth USD 1.9 million (INR 16 crore) upfront and USD 9.6 million (INR 81 crore) in deferred-stock, valuing Oyo at USD 5 billion (INR 42,500 crore). MadeComfy, founded in 2015, manages 1,200+ assets across Australia, New Zealand and earned USD 9.6 million (INR 81 crore) in 2024. Belvilla operates 50,000 homes in 20 European countries. Oyo also acquired G6-Hospitality in 2024 for USD 525 million. Founder Ritesh Agarwal projects FY26 profit of INR 1,100 crore, citing 60% YoY revenue-growth.Read more

30 May 2025

The Nabadiganta Industrial Township Authority (NDITA) has announced a comprehensive fire safety audit of around 250 office buildings in Kolkata's Sector V, following recent fire incidents and safety violations. Sector V, home to over 1,500 companies and nearly two lakh employees, has seen rising concerns over fire preparedness. Nine rooftop restaurants were recently served stop-operation notices for major compliance lapses. The audit will assess fire systems, road access, and evacuation routes, with a focus on removing encroachments and improving fire tender mobility. To ease roadside parking, NDITA will build a second multi-storey parking plaza near Philips More, accommodating over 700 vehicles by next year.Read more

29 May 2025

Brookfield Asset Management is targeting a threefold rise in its assets under management (AUM) in India, aiming to reach USD 100 billion within the next five years. The global asset manager, which currently oversees USD 30 billion in India across infrastructure, real estate, renewables, and private equity, sees emerging markets like India playing a pivotal role in its projected global AUM growth to USD 2 trillion. The firm emphasised that even a GDP growth rate of 5.5% would remain attractive due to India's economic scale. Much of the future growth is expected to stem from strategic mergers and acquisitions alongside organic expansion.Read more

29 May 2025

ITC Hotels announced the signing of a Welcomhotel property in Vrindavan, Uttar Pradesh, marking the brand's entry into a significant pilgrimage destination. This new development strengthens ITC Hotels' foothold in the state, adding to its existing portfolio of six operational hotels with 479 rooms and more properties planned across various brands. Strategically located 90 km from Noida International Airport along the Delhi-Agra Highway, the upcoming Welcomhotel will offer 120 guest rooms, catering to the increasing demand driven by the surge in domestic spiritual and cultural tourism across India.Read more

29 May 2025

Radisson Hotel Group recently announced the launch of five new hotels across diverse Indian locations, including Jamshedpur, Bengaluru's Yelahanka, Shimla's Koti, Punjab's Gaj, and Prayagraj. This expansion reflects the group's adaptive growth strategy tailored to India's evolving hospitality market. Radisson's approach focuses on leveraging its varied brand portfolio to establish meaningful local partnerships while ensuring world-class service. The company is broadening its reach to capture multiple traveller segments, from corporate visitors in tier II cities to leisure and spiritual tourists, underscoring its intent to deepen its presence across both industrial and leisure destinations.Read more

29 May 2025

Temasek Holdings and Abu Dhabi Investment Authority (ADIA) are planning to invest approximately USD 300 million in Micro Life Sciences, a Warburg Pincus-backed healthtech firm, ahead of its initial public offering. The investment will be made through a combination of primary and secondary share sales, valuing the company at over USD 1.8 billion. Micro Life Sciences, a part of the Gujarat-based Bialkha Group, operates in diverse segments of the medical devices and consumables market, with a strong presence in India and overseas.Read more

29 May 2025

Ghaziabad's administration has initiated stringent action against nearly 100 hotels operating without Sarai Act registration and mandatory no-objection certificates from relevant departments. Acting on a police report, officials have begun issuing notices to errant establishments, warning of legal action, including sealing. Only about 50 hotels are currently registered, while many lack basic infrastructure and operate illegally in residential areas. A recent inspection revealed 192 hotels functioning without proper documentation, especially in trans-Hindon regions. Authorities stress that procedural complexity is no excuse for non-compliance, and they remain committed to enforcing safety and regulatory standards across the hospitality sector.Read more

28 May 2025

Google IT Services India Pvt Ltd has renewed its lease for 870,000 sq ft of office space at Bagmane Capital Business Park in Bengaluru, reinforcing its long-term commitment to India's digital economy. The five-year lease covers two towers Kyoto East and West along the Outer Ring Road, with monthly rent set at INR 7.5 crore and a 15% escalation after the first and third years. Google also deposited over INR 38 crore as security. One of 2025 largest commercial leasing deals, the renewal signals Bengaluru's continued importance as a tech hub. It follows Google's broader real estate expansion across India, including major leases in Gurugram and Whitefield.Read more

28 May 2025

The Municipal Corporation of Gurugram (MCG) has escalated its efforts to recover property tax dues by issuing notices to 22 major defaulters, each owing more than INR 50 lakh. This action forms part of a larger crackdown, with lists of defaulters prepared for every municipal zone. The MCG has also warned residents against engaging middlemen for property tax corrections and urged direct reporting of such incidents. Following years of minimal enforcement that saw revenue dip drastically, the corporation is now enforcing stricter penalties, including property sealing and auctioning, to ensure timely tax compliance and secure funds for city development.Read more

28 May 2025

Interarch Building Solutions, a key player in the pre-engineered steel construction sector, registered a robust 30% rise in net profit to INR 38.68 crore during the final quarter of the previous financial year, driven by a significant increase in revenue. The company's total income surged to INR 470.58 crore in the January-March quarter, while annual figures reached INR 1,474.47 crore. Managing Director Arvind Nanda highlighted this as the company's best-ever financial performance and announced the proposal of its first-ever dividend. He expressed optimism about maintaining growth in the ongoing fiscal year, backed by a solid order pipeline.Read more

28 May 2025

In a significant development within the commercial real estate segment, NBCC Ltd, a government-owned construction and consultancy firm, has secured an INR 161.55 crore project from Power Finance Corporation (PFC) for the complete interior fit-out of its newly purchased office space at the World Trade Centre in Nauroji Nagar, New Delhi. The Memorandum of Understanding between the two entities was signed earlier this week. The office space, spread across all ten floors of Tower-H (G+9), spans a total carpet area of 2,70,758 square feet. This collaboration highlights the growing demand for premium commercial spaces in strategic business districts.Read more

28 May 2025

ITC Ltd, one of India's leading diversified conglomerates, recorded an impressive financial performance for the quarter and fiscal year that concluded recently. The company's consolidated net profit for the final quarter saw a nearly four-fold increase year-on-year, while its annual profit surged close to 69%. Although quarterly revenue growth remained subdued, annual revenue witnessed a healthy 10.4% rise. The board has recommended a final dividend of INR 7.85 per ordinary share, reflecting confidence in the company's financial strength. Interestingly, ITC's shares closed lower on the day the results were declared, as the announcement came after trading hours.Read more

01 Jan 1970

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

01 Jan 1970

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

01 Jan 1970

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

01 Jan 1970

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