06 Aug 2025

Realty firm Prestige Estates Projects Ltd announced that its consolidated net profit increased by 26% to INR 292.5 crore in the first quarter of this fiscal year. This robust performance was complemented by a four-fold jump in sales bookings, which reached an all-time high of INR 12,126.4 crore, primarily driven by exceptional demand for its residential project in Ghaziabad. The company's total income also saw a significant rise to INR 2,468.7 crore, highlighting a strong start to the new fiscal year and a successful strategic expansion into North India.Read more

06 Aug 2025

Sri Lotus Developers and Realty made a strong stock market debut, listing at over 19% above its issue price of INR 150. Shares opened at INR 179.10 on the BSE and INR 178 on the NSE, later trading near INR 183. Backed by Bollywood celebrities and investor Ashish Kacholia, the company now holds a market valuation of INR 8,971 crore. Its INR 792 crore IPO, fully fresh issue, was oversubscribed 69 times. Promoted by Anand Kamalnayan Pandit, the firm focuses on luxury redevelopment projects in Mumbai's western suburbs. IPO proceeds will fund developments like Amalfi, The Arcadian, and Varun, alongside corporate growth needs.Read more

06 Aug 2025

Highway Infrastructure Ltd's initial public offering saw an enthusiastic response, getting fully subscribed within hours of opening. With total bids exceeding 11.97 crore shares well over the 1.60 crore shares on offer the IPO was subscribed 7.47 times. Retail investors and non-institutional investors led the charge, with strong demand also reflected in the anchor investor segment. The company has already secured INR 23.4 crore from anchor investors including HDFC Bank and Abans Finance Pvt Ltd. The issue, set to close later this week, is aimed at raising funds for working capital and corporate needs.Read more

06 Aug 2025

Ummeed Housing Finance Pvt Ltd (UHFPL), based in Gurugram, has secured INR 250 crore from British International Investment (BII), the UK government's development finance arm. The funding will expand access to long-tenure, low-cost housing loans for India's low-income population, with a focus on underserved and women borrowers. The investment, classified as a 2X initiative, is expected to benefit around 3,000 women and boost financial inclusion. UHFPL, which manages assets over INR 2,400 crore and has served 33,000+ customers, aims to improve homeownership and living standards. Both organisations emphasised alignment with India's 'Housing for All' mission.Read more

06 Aug 2025

Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has expanded its property tax amnesty scheme 'Shasti Se Azaadi' to cover commercial, industrial, and other property types, in addition to residential ones. Taxpayers who clear all outstanding dues in a single payment by mid-August will receive a 95% waiver on penalty charges, while those paying between mid-August and mid-September will get a 75% waiver. The revised scheme is expected to help CSMC improve its revenue collection, which stood at INR 157.7 crore in property tax and INR 26.3 crore in water tax in the last financial year.Read more

06 Aug 2025

Tata Capital has updated its draft papers for an upcoming IPO that could raise up to USD 2 billion, valuing the non-banking financial company at around USD 11 billion. The offering comprises a fresh issue of 21 crore equity shares and an Offer For Sale (OFS) of 26.58 crore shares. Tata Sons and International Finance Corporation will be selling 23 crore and 3.58 crore shares respectively under the OFS. The IPO proceeds will be used to strengthen the company's Tier-1 capital base and support future lending requirements.Read more

06 Aug 2025

Ludhiana's one-time settlement scheme for property tax defaulters has been extended until mid-August, allowing payments of outstanding dues without penalty or interest. Initially launched in May, the scheme received a lukewarm response but saw a spike in participation closer to the original deadline. The extension follows increasing public footfall and growing collections, which have reached around INR 15 crore so far. The total property tax collection for the current fiscal has touched nearly INR 40 crore. Suvidha Kendras have been operating on weekends to handle the rising number of taxpayers.Read more

05 Aug 2025

Lucknow's property market has seen a rise in official property valuations after the administration revised circle rates for the first time in nearly a decade. Residential land prices have increased by 20-25 % and agricultural land by about 15 %. Localities such as Gomtinagar, Mahanagar and Indiranagar recorded the sharpest hikes. Premium locations now have updated rates in line with current market conditions. The revision also introduces QR code transparency and a cap on stamp duty for family transfers.Read more

05 Aug 2025

Godrej Properties is planning to raise INR 20 billion (USD 230 million) through its largest-ever corporate bond issue. The three- to five-year bonds will be issued shortly after the Reserve Bank of India's policy review, aiming to benefit from better market yields. This will push the company's total bond fundraising since September last year to INR 45 billion. The funds are likely to be used for land acquisitions and residential development, including a newly bought 50-acre plot in Chhattisgarh.Read more

05 Aug 2025

LIC Housing Finance posted a 4.5-5% rise in net profit to INR 1,364 crore for Q1 FY26, backed by strong individual home loan demand. Total income rose 7% to INR 7,250 crore, while net interest income gained 4%. Home loan disbursements grew 3% to INR 11,247 crore, but project loans fell sharply. The loan book expanded by 7% to INR 3.09 lakh crore. Asset quality improved, with gross NPAs down to 2.62%. The firm also reduced lending rates, waived processing fees, and launched a new website to boost digital engagement. Marking 36 years of operations, LIC HFL now eyes higher-yield credit segments for future growth.Read more