12 May 2025

Property Share Investment Trust, India's first registered Small and Medium Real Estate Investment Trust (SM REIT), has filed a draft document for an INR 472 crore Initial Public Offering (IPO) of PropShare Titania, its second SM REIT scheme. The IPO will solely consist of a fresh issue of Titania units, with no Offer For Sale (OFS) component. PropShare Titania comprises 4,37,973 sq ft of grade A+ office space in G Corp Tech Park, Mumbai, fully occupied by prominent tenants like Aditya Birla Capital and Concentrix. The scheme offers projected distribution yields of 9 per cent for FY26 and FY27 and 9.1 per cent for FY28. Proceeds from the IPO will primarily be utilised for asset acquisition.Read more

12 May 2025

The Nashik Metropolitan Regional Development Authority (NMRDA) has been entrusted with 13,645 hectares of government land across 190 villages in six talukas. This initiative aims to address the rapid urbanization in peri-urban and semi-urban areas, where local bodies often lack the resources for systematic development. NMRDA plans to create an integrated development plan, utilizing these lands for essential civic infrastructure such as sports grounds and water treatment plants. The authority is also in the process of formulating a land-use policy to ensure organized and community-centric development.Read more

12 May 2025

CBRE's recently released Q1 2025 report for the Asia Pacific region reveals varied performance across the real estate sectors. While office leasing showed strong growth, especially due to upgrading and relocation demand, commercial real estate investment volumes dipped slightly by 1% quarter-on-quarter (q-o-q), totalling USD 32.8 billion. The office market saw a 25% year-on-year (y-o-y) improvement in net absorption, and retail leasing sentiment remained optimistic. However, the logistics sector faced increased vacancy rates as occupiers hesitated due to global trade uncertainties. Investment activity was primarily boosted by Japan and Korea, with office sector investments outperforming others.Read more

12 May 2025

Aptus Value Housing Finance India Ltd, headquartered in Chennai, reported a consolidated profit of INR 207.02 crore for the January-March 2025 quarter, marking a significant rise from INR 164.03 crore in the corresponding quarter of the previous year. For the financial year ending March 2025, the company achieved a profit of INR 751.24 crore, up from INR 611.89 crore in the previous financial year. The company's Assets Under Management (AUM) grew by 25% year-on-year, reaching INR 10,865 crore. During FY25, the firm disbursed INR 3,604 crore, reflecting a 15% growth in disbursements. Aptus also expanded its operational network by adding 38 new branches, increasing its presence to 300 locations.Read more

09 May 2025

During January-March 2025, housing prices in MMR, Delhi-NCR, Chennai, and Pune remained stable compared to the previous quarter, according to PropTiger. In contrast, Bengaluru and Hyderabad saw a 5% price rise, while Ahmedabad and Kolkata recorded 4% increases. Despite continued year-on-year growth, the pace has slowed, signaling a more balanced market. PropTiger CEO Dhruv Agarwala noted that this stability may encourage end-users while maintaining investor interest. Average prices per sq ft stood at INR 12,600 in MMR, INR 8,106 in Delhi-NCR, INR 7,173 in Chennai, and INR 7,109 in Pune. As 2025 nears, the market is expected to consolidate, supported by strong structural fundamentals.Read more

09 May 2025

Ajay Poly, Laxmi India Finance, and Veritas Finance were among the five businesses that received regulatory approval from SEBI earlier this week to raise money through initial public offerings (IPOs). Additionally, Rajasthan-based Jajoo Rashmi Refractories and Kolkata-based Regaal Resources received the green light to float IPOs. Veritas Finance aims to raise INR 2,800 crore, comprising a fresh issue worth INR 600 crore and an Offer-for-Sale (OFS) of INR 2,200 crore by key investors. Laxmi India Finance, Ajay Poly, Regaal Resources, and Jajoo Rashmi Refractories have outlined specific plans for fund utilisation, ranging from debt repayment to expanding manufacturing capacities. Meanwhile, Earthood Services withdrew its draft IPO documents.Read more

09 May 2025

Aadhar Housing Finance reported a 21 per cent increase in its net profit for the fourth quarter of the financial year 2024-25, amounting to INR 245 crore. The housing finance company's profit for the corresponding quarter in the previous year stood at INR 202 crore. Total income for the quarter rose to INR 834 crore from INR 692 crore in the same period last year, driven by a significant surge in interest income, which climbed to INR 722 crore from INR 596 crore. Asset Under Management (AUM) also grew by 21 per cent, reaching INR 25,531 crore. Meanwhile, the board has appointed Raj Vikash Verma, former chairman and managing director of National Housing Bank, as an independent director.Read more

09 May 2025

Nexus Select Trust recently announced it has successfully acquired a commercial complex in Ludhiana that included a 96-key Radisson Hotel and a shopping mall. The transaction, valued at an enterprise amount of INR 531 crore, includes a purchase consideration of INR 490 crore, associated stamp duty of INR 10 crore, and provisions for capital expenditure, such as hotel renovations and mall upgrades. The MBD Complex, a Grade-A urban consumption centre, spans approximately 0.3 million square feet with a current occupancy rate of 95 per cent. Nexus Select Trust, India's first publicly listed retail REIT, continues to expand its diversified portfolio, which now includes 19 shopping malls, three hotel assets, and three office assets.Read more

09 May 2025

Flipspaces, a startup offering design and building solutions for commercial spaces, has secured USD 35 million (approximately INR 297 crore) from investors to drive its growth strategy. The funding round was led by tech growth investor Iron Pillar and included participation from existing investor Prudent Investment Managers and new entrant Synergy Capital. The capital will be utilised to bolster Flipspaces' presence in India, the US, and UAE, enhance its technology capabilities, and pursue inorganic growth in new markets and related sectors. The company has delivered over 8 million square feet of commercial space for more than 1,000 brands and achieved a CAGR of 65 per cent over the last four years.Read more

09 May 2025

HUDCO reported a 4% rise in consolidated net profit to INR 727.74 crore for the March quarter of FY25, up from INR 700.16 crore in the same period last year, driven by higher income. Quarterly income rose to INR 2,854.91 crore from INR 2,194.04 crore. For the full fiscal year, net profit increased to INR 2,709.14 crore, while total income grew to INR 10,348.38 crore. HUDCO also plans to raise INR 2,190 crore via unsecured, taxable NCDs at a 6.9% annual coupon rate, maturing in five years. The move aims to strengthen its ability to finance housing and infrastructure projects nationwide.Read more