Mumbai News Desk

02 Jun 2026

• The Maharashtra Housing and Area Development Authority (MHADA) has identified 82 buildings across Mumbai as highly dangerous ahead of the monsoon season and has initiated precautionary measures for resident safety.
• The structures have been categorised under the ‘C-1’ classification, indicating that they are unsafe for habitation and require evacuation or demolition.
• Notices have been issued to residents and occupants, while coordination has been initiated with civic authorities, police and disaster management agencies.
• The exercise forms part of Mumbai’s annual pre-monsoon structural safety review aimed at reducing risks associated with ageing and dilapidated buildings.
• Authorities have urged occupants to vacate unsafe premises as heavy rainfall conditions are expected to increase structural vulnerability during the monsoon months.Read more

02 Jun 2026

• Germany’s EUR 500 billion infrastructure fund has missed key spending and implementation targets, according to a finance ministry report due to be released this week.
• The fund disbursed EUR 24 billion in 2025, significantly below the planned EUR 37.4 billion allocation intended to stimulate economic growth.
• Only 26 of 109 planned project milestones for 2026 had been achieved by the end of May, highlighting slower-than-expected implementation.
• Housing construction recorded a progress score of 66%, while transport, energy and digital infrastructure projects showed mixed performance.
• Despite the delays, the finance ministry estimates that investments from the fund are contributing approximately 0.5 percentage points to Germany’s gross domestic product (GDP).Read more

02 Jun 2026

• India Infrastructure Finance Company Limited (IIFCL) reported a net profit of INR 1,379 crore for FY26, a decline of 36% from INR 2,165 crore in the previous fiscal, primarily due to foreign exchange fluctuations.
• The state-owned infrastructure financier recorded its highest-ever annual sanctions of INR 57,680 crore and disbursements of INR 32,972 crore during the year.
• IIFCL's standalone loan book grew nearly 17% to INR 81,715 crore as of March 31, 2026, while cumulative standalone disbursements reached approximately INR 1.89 lakh crore.
• Asset quality strengthened significantly, with the gross non-performing asset (NPA) ratio declining to 0.4% and net NPA reducing to zero.
• The company's net worth rose to INR 17,898 crore and its capital adequacy remained well above regulatory norms, supporting continued infrastructure financing activity across sectors.Read more

02 Jun 2026

• The Ulhasnagar Municipal Corporation (UMC) has identified 283 buildings as dangerous and vulnerable to collapse ahead of the monsoon season.
• Notices have been issued to occupants of structurally unsafe buildings, with authorities urging residents to vacate high-risk properties before heavy rainfall intensifies.
• The identified structures include several ageing residential and mixed-use buildings spread across different parts of the city.
• Municipal authorities have initiated inspections, emergency preparedness measures and coordination with disaster management agencies to mitigate risks during the monsoon.
• The exercise forms part of a wider pre-monsoon safety review being undertaken across the Mumbai Metropolitan Region (MMR) to address risks associated with deteriorating building stock.Read more

02 Jun 2026

• Delhi-based TARC Ltd reported a consolidated net profit of INR 1.61 crore for the quarter ended March 2026, compared with a net loss of INR 104.56 crore in the corresponding period a year earlier.
• The company's total income surged to INR 300.01 crore during the fourth quarter, supported by revenue recognition from its TARC Tripundra housing project.
• For the full financial year 2025-26, TARC posted a net profit of INR 19.03 crore against a loss of INR 231.28 crore in the previous fiscal.
• Annual total income increased sharply to INR 671.78 crore from INR 38.88 crore in FY2024-25, reflecting improved project execution and sales monetisation.
• The developer plans to continue phased launches and expand its luxury and ultra-luxury residential portfolio across its land holdings in Delhi-NCR.Read more

02 Jun 2026

• Bhilai-based Simplex Castings reported FY26 revenue of INR 202.9 crore, reflecting an 18% year-on-year increase.
• Profit after tax rose by more than 40% to INR 21.26 crore, while EBITDA grew over 20% during the financial year.
• The company secured approval from the Research Designs & Standards Organisation (RDSO) to undertake prototype testing of railway wagon components and CASNUB bogies.
• Management expects the railway business to contribute around INR 50 crore in revenue by the end of FY27 and over INR 100 crore by the end of FY28.
• Capital expenditure has commenced at manufacturing facilities to support participation in railway procurement programmes and future expansion.Read more

02 Jun 2026

• Kolkata-based Rashmi Group has announced a fresh investment proposal of INR 35,000 crore in West Bengal across steel, power and mining operations.
• More than INR 30,000 crore will be allocated towards expanding iron and steel production capacity by 7 million tonnes per annum (MTPA), while INR 5,000 crore will be invested in operationalising three coal mines.
• The proposed investments will be spread across Purulia, Paschim Bardhaman, Birbhum, Jhargram and Paschim Medinipur districts.
• The company estimates the projects could generate around 50,000 direct and indirect employment opportunities across manufacturing and mining activities.
• The announcement builds on Rashmi Group’s existing industrial presence in the state, where it has already invested nearly INR 25,000 crore.Read more

Kolkata News Desk

02 Jun 2026

• The Calcutta High Court has ruled that buyers cannot seek regularisation of unauthorised constructions merely because they have invested money in such properties.
• The court observed that financial investment does not create a legal right to legitimise structures built in violation of sanctioned plans and building regulations.
• The judgment reiterated the responsibility of buyers to conduct due diligence before purchasing property and verify statutory approvals.
• The court stressed that permitting regularisation on sympathetic grounds would weaken urban planning laws and encourage further violations.
• The ruling comes amid continuing judicial scrutiny of illegal construction and municipal enforcement across West Bengal.Read more

02 Jun 2026

• The Centre's PM Surya Ghar: Muft Bijli Yojana has achieved rooftop solar installations across 40 lakh households nationwide.
• Union Minister for New and Renewable Energy Pralhad Joshi announced the milestone on May 29.
• The scheme aims to solarise one crore households by March 2027 through subsidised rooftop solar systems.
• The initiative is intended to help households lower electricity expenditure, access government subsidies and reduce dependence on conventional power sources.
• Launched in February 2024, the programme seeks to expand distributed renewable energy generation by enabling consumers to produce electricity at the household level.Read more

02 Jun 2026

Residents of Parijat Sadan, a nearly five-storey cessed building in Girgaon, Mumbai, have continued to face severe water shortages and low water pressure for more than a year despite repeated complaints to civic authorities. The Brihanmumbai Municipal Corporation (BMC) had earlier recommended replacement and expansion of the building’s water pipeline, while the Maharashtra Housing and Area Development Authority (MHADA) stated that approvals for the proposed work remain pending. Residents alleged that rapid redevelopment and the emergence of high-rise towers in the locality have worsened water distribution for older buildings dependent on ageing infrastructure. The issue has disrupted daily routines for over 40 families, with residents claiming that intermittent water supply and weak pressure have particularly affected senior citizens living in the building.Read more

02 Jun 2026

• Indian Railways is facing scrutiny after around 54,000 trees were felled for a railway project in Madhya Pradesh.
• Authorities have ordered an inquiry into the project’s alignment over safety and environmental concerns.
• Questions have emerged over whether alternative routes could have reduced forest loss.
• The issue has intensified debate around infrastructure planning, environmental clearances and ecological safeguards in transport projects.Read more

01 Jun 2026

• The BMC will impose an INR 3 crore penalty on contractor Larsen & Toubro after two workers died at a Coastal Road Phase 2 casting yard.
• The accident occurred earlier this month at a gantry crane platform in Bhayander West linked to the Mumbai Coastal Road project.
• A probe by VJTI identified multiple safety lapses, including inadequate structural support and insufficient safety systems.
• Civic authorities have ordered corrective measures and initiated wider safety audits across project construction sites.Read more

01 Jun 2026

• East Central Railway (ECR) has extended operations of Bihar-Delhi clone special trains till July 16 to manage sustained passenger demand during the summer travel season.
• The extension covers special services operating between key Bihar cities and Delhi, where passenger traffic has remained high over recent weeks.
• Indian Railways has continued operating additional special trains across multiple zones to ease congestion and support long-distance travel demand during peak periods.Read more

Kolkata News Desk

01 Jun 2026

• The Calcutta High Court has stayed demolition action against several buildings in Tiljala and Kasba for 30 days and directed the Kolkata Municipal Corporation (KMC) to hear both owners and occupants before proceeding further.
• The order was passed in response to petitions filed by residents and occupants of multiple buildings facing demolition notices issued under Section 400(1) of the KMC Act.
• More than 150 occupants across around five properties challenged the notices, alleging that no individual hearing opportunity had been provided before demolition proceedings were initiated.
• The court directed maintenance of status quo during the interim period while allowing municipal authorities to remove portions considered structurally dangerous after consultation with residents.
• The matter forms part of a wider crackdown on alleged unauthorised constructions in Kolkata following recent safety concerns linked to illegal buildings in the Tiljala area.Read more

01 Jun 2026

• Sagarmala Finance Corporation (SFC), the state-owned maritime-focused lender under the Ministry of Ports, Shipping and Waterways, is preparing to launch India’s first blue bond issuance.
• The proposed issue aims to raise up to INR 1,000 crore, including a greenshoe option, to support long-term funding requirements for maritime and coastal infrastructure projects.
• Proceeds are expected to be deployed towards ports, shipbuilding facilities, inland waterways, coastal connectivity and other marine-linked infrastructure developments.
• The initiative marks India’s entry into the blue bond market, a niche segment of sustainable finance focused on ocean and water-related projects.
• The fundraising exercise is also intended to address SFC’s asset-liability mismatch by securing longer-tenure borrowings aligned with its infrastructure lending profile.Read more

01 Jun 2026

• The Centre has notified two Special Economic Zones (SEZs) in Puducherry following approvals granted by the Board of Approval under the Department of Commerce.
• An IT/ITES SEZ will be developed by Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk.
• The Commerce Ministry stated that this will be the first SEZ in India to be developed by an urban local body.
• A second multi-sector SEZ will be established by the Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC) at Karasur village in Villianur Taluk.
• The projects are aimed at expanding industrial and technology-led economic activity in the Union Territory through dedicated SEZ infrastructure.Read more

01 Jun 2026

• Co-working operator COWRKS, backed by Brookfield Properties, has added six new managed office centres in Chennai as part of its growth strategy.
• The newly launched facilities comprise around 2.9 lakh sq ft of workspace and more than 3,900 desks.
• With the expansion, the company's Chennai portfolio has increased from four centres to ten centres.
• The total footprint in the city has risen from over 2.1 lakh sq ft and 2,900 desks to nearly 5 lakh sq ft and more than 6,800 desks.
• The move comes amid increasing demand for managed office and flexible workspace solutions across major Indian commercial markets.Read more

01 Jun 2026

• The Mumbai Metropolitan Region Development Authority (MMRDA) has signed a memorandum of understanding (MoU) with the Tech Entrepreneurs Association of Mumbai (TEAM) during Mumbai Tech Week 2026.
• The partnership aims to support the development of a global startup, innovation and artificial intelligence (AI) ecosystem across the Mumbai Metropolitan Region (MMR).
• The collaboration will support initiatives linked to Maharashtra Innovation City and the broader Mumbai 3.0 development programme.
• Planned initiatives include AI job fairs, global capability centres, hackathons, investor engagement platforms and knowledge-sharing programmes based on international best practices.
• The partnership seeks to position MMR as a major destination for technology-driven investment, innovation and entrepreneurship.Read more

01 Jun 2026

• Trichy MP Shri Durai Vaiko has urged Railway Minister Shri Ashwini Vaishnaw to include Tiruchirappalli in the Centre’s Rail Vision 2030 programme.
• The demand includes faster approval for doubling of the Tiruchi-Karur broad gauge section and expansion of railway infrastructure in the region.
• The proposal aims to strengthen connectivity, improve freight and passenger movement and support industrial and economic growth across central Tamil Nadu.Read more

01 Jun 2026

Bengaluru-based startup Mappstore is expanding its AI-powered WhatsApp automation platform, VibeFlow, as businesses increasingly adopt conversational commerce tools to streamline customer interactions and operational workflows. The company said more than 1,000 businesses are currently using the platform, with growth averaging around 50% month-on-month during the current quarter. Founded by Sooraj Kumar, Lakshya Sharma and Manu George, the startup enables businesses to create automated WhatsApp workflows for bookings, payments, customer support and delivery coordination without coding requirements. Mappstore has also launched mappsto.re, a discovery marketplace for AI-powered conversational storefronts across sectors including food services, healthcare, retail and local services, positioning itself within India’s expanding messaging-based commerce ecosystem.Read more