09 Jul 2025

Jio BlackRock Asset Management has successfully raised INR 17,800 crore (USD 2.1 billion) in its debut mutual fund offering. The three-day New Fund Offer, held from June 30 to July 2, attracted over 90 institutional investors and more than 67,000 retail investors across three schemes. This significant fundraise is seen as an endorsement of the company's digital-first approach and investment strategies. The 50:50 joint venture, which received its license in May, plans broader expansion in India's financial market, having recently secured approval for broking and clearing services.Read more

09 Jul 2025

Sobha Ltd. reported an 11% increase in sales bookings to a record INR 2,078.8 crore in Q1 FY26, selling 14.44 lakh sq ft of area. This marks its highest-ever quarterly sales value. The Bengaluru-based firm attributes growth to urban migration, commercial space demand, and declining interest rates. It launched two new housing projects, 'Sobha Aurum' in Greater Noida (420 apartments, 7 lakh sq ft saleable area, INR 800 crore investment) and one in Kochi, during the quarter, indicating continued expansion across 13 cities.Read more

09 Jul 2025

Lodha Developers Ltd. reported a 10% growth in sales bookings, reaching INR 4,450 crore in the first quarter of the current fiscal year. This performance comes despite market disruptions in the early part of the quarter. The Mumbai-based real estate firm aims to meet its annual sales bookings target of INR 21,000 crore for FY26. The company also states it has strengthened its launch pipeline, indicating continued confidence in housing demand.Read more

09 Jul 2025

The Municipal Corporation of Delhi (MCD) has organized 1,862 property tax camps across its 12 zones to boost participation in its Amnesty Scheme, launched in May. Over 48,546 taxpayers have already been assisted. Under the 'Sumpattikar Niptaan Yojana' (SUNIYO), taxpayers can receive a full waiver of past property tax, interest, and penalties incurred before FY 2020-21, by paying current and five preceding fiscal years' principal tax. The MCD plans more camps to extend these benefits and improve tax collection across the city.Read more

08 Jul 2025

Keystone Realtors Ltd., operating under the 'Rustomjee' brand, reported record pre-sales of INR 1,068 crore in Q1 FY26, a 75% annual increase. Customer collections also rose 19% to INR 575 crore. The Mumbai-based firm launched three new projects with a saleable area of 0.91 million sq ft and INR 4,000 crore GDV. It also secured three new housing society redevelopment projects in the June quarter, expected to generate INR 7,727 crore revenue from 3.25 million sq ft of saleable area.Read more

08 Jul 2025

The Prayagraj Municipal Corporation (PMC) is set to launch a unified billing system for property, water, and sewer taxes, expected to go live next week. This initiative aims to simplify the tax process for residents and reduce administrative burdens by consolidating separate bills into one. The system, aligning with state government guidelines, will integrate all necessary data and offer flexible online and offline payment options. This move is part of PMC's efforts to enhance transparency, citizen engagement, and operational efficiency, promising a streamlined approach to municipal tax collection.Read more

08 Jul 2025

Marathon Nextgen Realty Ltd (MNRL) has raised INR 900 crore through a Qualified Institutions Placement (QIP) to support expansion across the Mumbai Metropolitan Region. The QIP, priced at INR 555.13 per share, drew strong interest from top institutional investors like Quant Mutual Fund and Kotak Alternate Asset Managers. Post-issue, FII and DII holdings stand at 9.9% and 16.66% respectively. The funds will bolster MNRL's development pipeline, reduce debt, and enhance its financial strength. CMD Chetan Shah called the raise a strong endorsement of the company's strategy. The move follows MNRL's amalgamation scheme aimed at consolidating assets and improving governance for future growth.Read more

08 Jul 2025

The central government has revised toll charges for national highway stretches with structures like tunnels, bridges, and flyovers, reducing rates by up to 50%. Under the amended NH Fee Rules, 2008, tolls will now be calculated using a new formula: either ten times the length of the structures added to the remaining section or five times the total highway length-whichever is lesser. For example, a 40 km structural stretch will now be tolled based on 200 km instead of 400 km. This change lowers travel costs for motorists while addressing high construction expenses, according to the Ministry of Road Transport and Highways and NHAI.Read more

08 Jul 2025

Whiteland Corporation has awarded INR 2,000 crore in construction contracts to Ahluwalia Contracts and Kalpataru Projects for its premium housing project on Dwarka Expressway. Spread across 20 acres, the project will feature around 1,700 apartments, with 1,400 units launched in the first phase. The developer has partnered with Marriott International to bring Westin Residences to Gurugram, which will manage the upcoming property. The total investment, including land and construction costs, is estimated at INR 5,500-6,000 crore.Read more

07 Jul 2025

MakeMyTrip has repurchased over 3.4 crore Class B shares from China-based Trip.com, reducing the latter's voting power from 45.34% to 16.90%. Following the transaction, three Trip.com-nominated directors resigned from MakeMyTrip's board, in line with the terms of the share issue. The board now comprises ten members, including three management directors, four independent directors, one Mauritius resident director, and two Trip.com-nominated directors. New appointees include Vivek N Gour, Savinilorna Payandi Pillay Ramen, and Group CFO Mohit Kabra. With 95.38 million shares now outstanding, the move marks a significant shift in MakeMyTrip's governance structure and reduces foreign influence in the Nasdaq-listed travel platform.Read more