28 minutes ago

An Air India Airbus A320 operating a Phuket-Delhi flight experienced a sudden loss of around 300 feet in altitude during cruise, with sources reporting multiple technical glitches, including an autopilot disconnection and triple hydraulic failures. The aircraft also encountered turbulence before stabilising and continuing its journey to Delhi. At least 17 passengers and crew members were reported injured in the incident. The Aircraft Accident Investigation Bureau (AAIB) has begun a probe, while France's BEA and Airbus are joining the investigation to provide technical assistance. The pilot's confirmatory psychoactive substance test is also awaited.Read more

58 minutes ago

Canada’s Public Sector Pension Investment Board (PSP Investments) is exploring a potential sale of its Indian road assets held through Roadis, its global road investment platform. The pension fund is working with an adviser to assess a possible divestment that could value the assets at around USD 1.5 billion, including debt. The Indian portfolio has been an important contributor to Roadis’ growth. Preliminary interest has reportedly emerged from other investment firms and industry players, although discussions remain at an early stage and no final decision has been taken on a sale.Read more

1 hour ago

The Railways has approved a survey for a proposed 95-km broad-gauge railway line connecting Theni in Tamil Nadu with Erumeli in Kerala, an important gateway for pilgrims travelling to Sabarimala. The survey will assess the feasibility of establishing a direct rail connection between the two locations and will form the basis for preparing a detailed project report. Railway Minister Ashwini Vaishnaw confirmed the approval in Parliament. The proposal will require further appraisal, consultations with the state governments and necessary clearances before any construction decision is taken.Read more

1 hour ago

Athulya Senior Care has expanded its presence in Bengaluru with the inauguration of its third Integrated Geriatric Care Centre in Mathikere. The new facility, with around 100 beds, will provide assisted living, rehabilitation, memory care, emergency support and other senior-focused healthcare services under one roof. The launch comes as Karnataka faces a growing need for specialised elder care, with senior citizens accounting for 9.2% of the state's population. Athulya now operates more than 300 dedicated senior care beds in Bengaluru and over 1,500 beds across 12-plus locations in five Indian cities.Read more

2 hours ago

The Meghalaya government is set to establish its second state guest house in Navi Mumbai, with Kharghar selected as the proposed location. The facility is intended to provide accommodation and support services for officials, visitors and residents of Meghalaya travelling to the Mumbai metropolitan region. The proposed development will expand the state's institutional presence outside Meghalaya and strengthen its connectivity with one of India's major urban and commercial centres. Kharghar, a planned node of Navi Mumbai, has emerged as a significant residential and institutional hub with established transport and social infrastructure.Read more

2 hours ago

Average prices of luxury independent floors in South Delhi's Category A and B colonies increased by 6-21% year-on-year during April-June 2026, according to a report by Golden Growth Fund (GGF), a Category II real estate-focused Alternative Investment Fund. Category A colonies recorded the strongest gains, with 2,500 sq. ft. floors rising 21% to an average of INR 23 crore from INR 19 crore a year earlier. Prices for 6,000 sq. ft. floors increased 20%, reaching an average of INR 48.5 crore. In Category B colonies, 2,500 sq. ft. floors rose 10% to an average of INR 10.75 crore, while 3,200 sq. ft. floors increased 6% to INR 16.5 crore. GGF attributed the price movement to limited supply, redevelopment activity and demand from high-net-worth and NRI buyers.Read more

3 hours ago

Swedish real estate group SBB has appointed Andreas Morfiadakis as its new chief executive officer, replacing Leiv Synnes with immediate effect. The leadership change comes as SBB moves forward with its transition from an integrated property company into an investment company focused on social infrastructure businesses. Morfiadakis brings experience in real estate, company building and capital markets, having founded and led residential property company KlaraBo. The appointment follows several years of restructuring at SBB after the Swedish property market downturn put pressure on the company’s finances and business model.Read more

3 hours ago

Jet Airways founder Naresh Goyal has approached a special PMLA court in Mumbai seeking discharge from the money laundering case linked to an alleged INR 538.62 crore bank fraud involving Canara Bank. The court agreed to hear his plea after directing that he should not seek an adjournment during the proceedings. The prosecution has been asked to file its response before the matter is taken up again on August 17. Goyal was arrested by the Enforcement Directorate in 2023 and is currently out on medical bail. The case originated from a CBI FIR against Jet Airways and others.Read more

4 hours ago

The government is stepping up efforts to reduce road fatalities, with a target of cutting road accidents and deaths by half by 2030 and working towards zero road fatalities in the longer term. Road Transport and Highways Minister Nitin Gadkari said 100 districts with high accident rates have been identified for focused intervention, including action at accident-prone black spots. India recorded 5,13,563 road accidents and 1,83,382 deaths in 2025, with an average of 59 crashes and 21 fatalities every hour. Two-wheeler users accounted for the largest share of road deaths, highlighting the need for stronger compliance with helmet and traffic safety rules.Read more

4 hours ago

Brookfield India Real Estate Trust (BIRET) and NCW’s Prime Offices Fund have entered into binding agreements to jointly acquire 2.64 lakh square feet of institutional-quality office space in Mumbai’s Bandra-Kurla Complex (BKC) for an enterprise value of INR 1,700 crore. The property comprises three contiguous office floors and will be acquired from a Brookfield private real estate fund through an equal partnership. The transaction adds another Mumbai office asset to BIRET’s portfolio, while expanding the presence of NCW’s Prime Offices Fund in India’s institutional office market.Read more

5 hours ago

UK housebuilder Bellway has warned that its near-term outlook remains uncertain as weaker demand, higher mortgage rates and rising construction costs continue to weigh on the housing market. The company expects underlying operating profit for the financial year to come in at around GBP 320 million, at the lower end of its previous guidance. Bellway completed 9,695 homes during the year, above its earlier target, supported by bulk sales. However, its forward order book fell to GBP 1.20 billion. The company has also announced a GBP 50 million share buyback and renewed calls for government action on housing affordability.Read more

5 hours ago

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has granted an automatic four-month extension to the registration and completion timelines of eligible real estate projects in the state under the Force Majeure provisions of the Real Estate (Regulation and Development) Act, 2016. The order follows the Government of India's recognition of the prevailing West Asia situation as a Force Majeure event and an advisory from the Ministry of Housing and Urban Affairs to state regulators to provide a uniform extension. The measure applies to projects whose original, revised or extended completion dates fall on or after February 28, 2026. The extension is intended to address delays linked to global supply chain disruptions and logistical difficulties. Developers will not need to file individual applications to avail the extension, a move industry representatives said would provide greater regulatory certainty.Read more

5 hours ago

Raymond Realty is accelerating its expansion across Mumbai through an asset-light joint development agreement strategy, with six signed JDAs spanning prime locations including Bandra, Mahim, Sion and Wadala. The portfolio has an estimated gross development value of around INR 14,000 crore, while the company has set a target for JDA projects to contribute 50% of annual pre-sales by FY28. Its latest project, Invictus by GS, BKC, is a roughly two-acre redevelopment with an estimated revenue potential of more than INR 2,000 crore, marking the company’s move into Mumbai’s ultra-luxury segment.Read more

6 hours ago

The Maharashtra government has directed urban local bodies across the state to remove unauthorised hotels, dhabas, eateries and other commercial structures operating within the Right of Way (ROW) of National Highways. The order follows directions issued by the Supreme Court in April 2026 after a fatal road accident in Rajasthan. Existing unauthorised structures are to be demolished within 60 days, while licences and approvals for establishments in highway safety zones will be reviewed. District-level highway safety task forces will also be formed to monitor encroachments and strengthen enforcement.Read more

6 hours ago

Sri Lankan shares closed higher for a fourth consecutive session, supported by gains in real estate and communication services stocks. The CSE All Share Index rose 0.22% to 21,417.47, while trading volume increased marginally to 123.9 million shares. Market turnover more than doubled to 3.81 billion Sri Lankan rupees, equivalent to about USD 11.4 million. Foreign investors remained net sellers, selling shares worth 2.38 billion Sri Lankan rupees, while domestic investors bought stocks worth 3.79 billion Sri Lankan rupees. SMB Finance and Industrial Asphalts were among the leading gainers.Read more

Chennai News Desk

6 hours ago

Chennai Metro Rail Phase-II has achieved 54.62% physical progress on its planned 118.9-km network, with the Union government releasing INR 14,545.91 crore for the project so far. The INR 63,246-crore Phase-II project comprises three corridors Madhavaram-SIPCOT, Lighthouse-Poonamallee Bypass and Madhavaram-Sholinganallur with around 42 km underground. The project is being monitored by the Centre and Tamil Nadu government at multiple levels. Meanwhile, the 14.64-km Poonamallee Bypass-Vadapalani stretch, the first operational section of Phase-II, has completed mandatory safety clearances and is awaiting its inauguration date.Read more

7 hours ago

The Lucknow Development Authority (LDA) has outlined its Anant Nagar Housing Scheme at Mohan Road, Lucknow, with plans covering residential development, commercial facilities, infrastructure and parks, while placing special emphasis on housing for economically weaker sections. The scheme is divided into sectors including Alok Khand, Adarsh Khand, Aditya and Aamod. LDA's official page lists a rate of INR 41,150 per sq m, a INR 1,100 booklet fee and a registration amount of 5% of the property cost, reduced to 2.5% for the reserved category.Read more

7 hours ago

Swiss watchmaker Longines has opened its third boutique in Bengaluru at Phoenix Market City, expanding its retail presence in the city. The boutique was inaugurated by Longines Friend of the Brand Sara Ali Khan, who also visited the brand’s outlet at Phoenix Mall of Asia. The new store features Longines’ latest collections, including PrimaLuna, Conquest, HydroConquest and the Longines Legend Diver, along with the DolceVita and Master Collection. The Bengaluru expansion comes as the brand continues to build its retail presence in India while maintaining its focus on Swiss watchmaking, design and sports-linked heritage.Read more

7 hours ago

The Maharashtra Food and Drug Administration (FDA) has suspended the food licence of Blink Commerce Pvt Ltd's facility in Malad West, Mumbai, after an inspection found extensive cockroach infestation, poor storage practices and several other food-safety violations. The action came as the state FDA increased inspections under Commissioner Tukaram Mundhe. In a separate case, the regulator seized packaged kaju katli from a Reliance Retail outlet in Buldhana after a complaint about live larvae in the product. A sample has been sent for laboratory testing, with further action to follow based on the report.Read more

8 hours ago

BigBloc Construction Ltd has reported a sharp improvement in its financial performance for the June quarter of FY27, with its net loss narrowing to INR 71.95 lakh from INR 4.96 crore in the corresponding quarter a year earlier. Revenue from operations rose 40.5% year-on-year to INR 79.14 crore, while EBITDA increased 386% to INR 6.28 crore. The company attributed the improvement to cost management, operational efficiencies and continued demand for construction materials. It has also secured a project from Larsen & Toubro for a Bullet Train station, adding to its infrastructure-related orders.Read more

8 hours ago

Nvidia is set to invest up to USD 3 billion in Lancium, the power infrastructure developer behind the Stargate data centre campus in Texas, according to a report by The Information. The initial investment of USD 2 billion would give Nvidia an approximately 20% stake in Lancium, while another USD 1 billion could follow if certain targets, including grid connections, are achieved. The transaction would value Lancium and its land and power assets at around USD 10 billion. The funding is expected to support expansion as the company considers a potential IPO in 2027.Read more

8 hours ago

CREDAI West Bengal has welcomed the state government's proposed Standard Operating Procedure (SOP) for building safety and regulatory compliance, while seeking an eight-month extension for project approvals and completion validity. The developers' body said scrutiny of 585 of the 706 projects identified under a mandatory audit has been completed following the Taratala warehouse collapse. Of the projects under the exercise, 204 have received clearance, 89 have received conditional approval and 26 have been found with major violations. CREDAI has also backed strict action against unauthorised construction and urged homebuyers to verify RERA registration before purchasing property.Read more

9 hours ago

Delhi’s Gross State Domestic Product (GSDP) reached INR 12.15 lakh crore in 2024-25, registering 9.17 per cent growth over the previous financial year, according to a CAG report tabled in the Delhi Assembly. However, the report noted that Delhi’s share in India’s GDP has followed a declining trend over the past decade. Its contribution fell from 4 per cent in 2015-16 to 3.67 per cent in 2024-25. The audit also pointed to rising revenue expenditure, higher subsidies, declining capital expenditure and lower central grants, which have affected the Delhi’s economy recorded growth in 2024-25, but its pace remained lower than the broader national economy over the longer term, according to a report of the Comptroller and Auditor General of India (CAG) tabled in the Delhi Assembly by Chief Minister Rekha Gupta.Read more

Visakhapatnam News Desk

9 hours ago

The Andhra Pradesh government has approved the redevelopment of the Velampeta slum in Visakhapatnam under the Visakhapatnam Economic Region programme, clearing the way for the state’s first major integrated in-situ slum redevelopment project under the initiative. The Greater Visakhapatnam Municipal Corporation will implement the project on a Design, Build, Finance and Transfer basis, with 177 housing units planned on a 1,986.45 sq m site. The project will use transferable development rights to make redevelopment financially viable and is intended to serve as a pilot for similar projects elsewhere.Read more

9 hours ago

Banks have written off loans worth INR 9.95 lakh crore extended to large corporates and the services sector over the last 12 financial years, Parliament was informed. The annual write-off amount peaked at INR 1,48,753 crore in 2018-19 before falling to INR 20,485 crore in 2025-26. At the same time, outstanding loans to large industries and services rose to INR 69.22 lakh crore in 2025-26. The government also highlighted improvements in fiscal indicators, domestic consumption, inflation and employment, while sharing data on digital payment frauds and India’s external debt.Read more

Hyderabad News Desk

10 hours ago

A prime land parcel estimated to be worth around INR 2,000 crore in Hyderabad’s fast-growing IT corridor has remained locked in a decades-old ownership and legal dispute, leaving the site buried under large quantities of construction debris. The property, located in a high-demand part of the city, has remained undeveloped even as surrounding areas have undergone rapid commercial and residential growth. Multiple claims, disputed records and prolonged legal proceedings have prevented the land from being put to productive use, highlighting the impact of unresolved land disputes on urban development.Read more

10 hours ago

India's longest bridges are far more than engineering achievements—they have transformed connectivity, reduced travel time, strengthened trade corridors and improved access to remote regions. Stretching across mighty rivers, seas and wetlands, these structures have reshaped local economies by linking towns, boosting tourism and supporting national infrastructure. While some have become strategic lifelines for border states, others have unlocked entirely new growth corridors. Here are ten of India's longest bridges and why each continues to play a crucial role in the country's transportation and economic development.Read more

10 hours ago

Dalqan Real Estate Company KSCP has signed a preliminary sale agreement for two properties located in Mahboula, Kuwait, with each property valued at KD 1.3 million. The company expects the sale of Property 202 to generate a gain of KD 248,000, while the sale of Property 203 is expected to result in a gain of KD 234,000. The transactions are subject to completion of the required procedures under the preliminary agreements. The proposed sales form part of the company’s property-related activities and are expected to contribute gains upon completion.Read more

Bangalore News Desk

11 hours ago

The Railway Board has given in-principle approval for the Communications-Based Train Control (CBTC) signalling and train control system for Bengaluru Metro’s Pink Line and the entire Blue Line under Phase 2A and 2B up to Kempegowda International Airport. The approval is an important step towards commissioning the Pink Line’s first operational section between Kalena Agrahara and Tavarekere. Bengaluru Metro Rail Corporation Limited has been following up with the Railway Board and Research Designs and Standards Organisation to complete the approval process. The system will support modern train control and signalling across the two upcoming corridors.Read more

11 hours ago

Saarathi Finance has opened its 100th branch in Jagtial, Telangana, marking a major expansion milestone for the MSME-focused NBFC that began lending operations in April 2025. The company has established 20 branches across Telangana over the past year and now has a presence across the state. It provides Loan Against Property solutions ranging from INR 5 lakh to INR 35 lakh to small businesses and entrepreneurs. Saarathi Finance has also crossed INR 650 crore in Assets Under Management and is expanding across six states, with plans to deepen its presence in other MSME markets across India.Read more

11 hours ago

The Bombay High Court’s Kolhapur bench has directed authorities to submit a status report on the condition of the Shri Kopeshwar Temple at Khidrapur in Maharashtra after a public interest litigation raised concerns over its protection and upkeep. The court, comprising Justices Madhav J. Jamdar and Pravin S. Patil, issued notice to the respondents and directed Respondent Nos. 2 and 3 to place a report on the temple’s status before the court. The matter was scheduled for further hearing on May 8, 2026.Read more

12 hours ago

Commercial property prices in Germany declined in the second quarter, ending a five-quarter period of gradual gains, according to data from the VDP banking association. Office and retail property prices fell 1% year-on-year after recording a 0.5% increase in the previous quarter. The decline comes as renewed geopolitical tensions have raised concerns about inflation and interest rates, putting pressure on property financing. Residential property prices continued to rise, although growth slowed to 1.9% from 2.3%. Financing sentiment also weakened sharply during the quarter, adding to concerns about the pace of recovery in Germany’s commercial property market.Read more

Mumbai News Desk

12 hours ago

Mumbai is set to get four new road overbridges at Dadar, Byculla, Ghatkopar and Prabhadevi as part of a INR 1,179-crore infrastructure programme aimed at easing traffic congestion and improving east-west connectivity. The projects are being jointly executed by the Brihanmumbai Municipal Corporation and Maharashtra Rail Infrastructure Development Corporation. Three bridges will be cable-stayed structures, while Prabhadevi will get Mumbai’s first double-decker road overbridge. The new structures are replacing ageing bridges and are expected to be completed in phases between 2026 and 2027.Read more

13 hours ago

The Bhubaneswar Municipal Corporation (BMC) has sought a response from a real estate developer over a high-rise building allegedly located along the funnel path of Biju Patnaik International Airport. The civic body has asked the developer to clarify whether the required aviation clearances were obtained for the building. The matter has drawn attention after airport authorities identified a height violation and issued a Notice to Airmen requiring aircraft to alter their approach path. The development has raised concerns over compliance with height restrictions applicable to structures around airports and the need for necessary approvals before construction.Read more

13 hours ago

RITES and Hindustan Petroleum Corporation Ltd (HPCL) have signed a memorandum of understanding to collaborate on railway infrastructure consultancy for HPCL's petroleum facilities. The partnership will focus on planning and developing railway siding infrastructure, with RITES providing its technical and consultancy expertise. The initiative is aimed at improving rail connectivity to HPCL's facilities and supporting more efficient movement of petroleum products through rail-based logistics. The agreement also creates a framework for the two public sector companies to work together on infrastructure development requirements across HPCL's network.Read more

14 hours ago

The International Finance Corporation (IFC) has announced an equity investment of INR 225 crore, equivalent to around USD 23 million, in NDR Smart Spaces to support the development of a Grade A warehousing and logistics infrastructure pipeline of around 20 million sq ft across 14 Indian cities. About 8 million sq ft of the planned portfolio is already under construction. The newly established platform of the NDR Group will develop both dry warehouses and cold storage facilities, with a focus on Tier 2 and Tier 3 cities in states including Maharashtra, Tamil Nadu and Uttar Pradesh. The investment is expected to support around 24,000 direct employment opportunities across the full pipeline, based on an estimated 1,200 jobs per million sq ft. The project will also add 1.5 million sq ft of cold storage capacity, aimed at reducing post-harvest losses and improving agricultural supply chains.Read more

Mumbai News Desk

14 hours ago

A group of 127 architects has urged the Maharashtra government to protect Mumbai's public land, open spaces and ecological assets from fragmented development and infrastructure projects. The architects have called for a broader approach to public land management, arguing that such spaces should be treated as long-term community assets rather than short-term development resources. Their appeal comes amid continuing pressure on Mumbai's limited land resources for housing, transport and other infrastructure. The group has also stressed the importance of preserving the city's environmental assets while planning future urban growth.Read more

Chennai News Desk

15 hours ago

The National Highways Authority of India (NHAI) has invited bids for construction of three vehicular underpasses on the Trichy-Chennai highway in Tamil Nadu at an estimated cost of INR 121.6 crore. The proposed infrastructure is intended to improve road connectivity and facilitate safer movement across the highway at identified locations. The tender forms part of efforts to address traffic-related issues and strengthen road infrastructure along the important Trichy-Chennai corridor. The project is expected to improve local access while allowing through traffic on the highway to move with fewer interruptions.Read more

Lucknow News Desk

15 hours ago

Traffic on the newly opened Lucknow-Kanpur Expressway has risen sharply after toll collection was suspended amid repair work on damaged sections. The increase in vehicle movement has added to operational difficulties for agencies carrying out rectification work on the 63-km corridor. NHAI suspended tolling after defects, including road damage and slippage, were reported soon after the expressway opened. Authorities are now managing traffic while repairs continue and technical assessments are undertaken to establish the causes of the damage and determine the appropriate long-term corrective measures.Read more

16 hours ago

The Maharashtra State Consumer Disputes Redressal Commission has sentenced partners of Sterling Constructions to imprisonment for allegedly wilfully disobeying consumer forum orders in three separate homebuyer disputes linked to the Sterling Apartments project in Chunabhatti, Mumbai. The commission treated the continued non-compliance as deliberate and invoked Section 27 of the Consumer Protection Act, 1986. The action comes after the developer failed to comply with directions issued in cases filed by homebuyers. The ruling underlines the consequences developers can face when consumer court orders are not followed.Read more

16 hours ago

Andhra Pradesh has introduced additional development fee concessions for buildings certified under the Indian Green Building Council (IGBC) rating system, adding to existing incentives linked to impact and AP RERA fees. The new concessions range from 5% for Silver-rated projects to 15% for Platinum-rated projects and will be available at the building permission stage based on IGBC pre-certification. Final certification will be required before occupancy permission is issued. The state currently has 638 IGBC-registered projects covering 627.58 million square feet, of which 300 projects have secured certification.Read more

17 hours ago

Chandigarh’s long-pending proposal to convert leasehold commercial and industrial properties into freehold ownership is under active consideration by the Ministry of Home Affairs, with a final decision expected soon. The move could benefit hundreds of property owners by giving them greater ownership rights and making transactions easier. The issue has remained pending for several years, with property owners and stakeholders seeking a change in the existing system. The proposal is separate from the conversion framework already available for certain residential properties in Chandigarh under the city’s existing rules.Read more

17 hours ago

Westpac Banking Corp has reported a 20% decline in mortgage applications as changes to Australia’s property investment tax rules weigh on housing demand. The lender expects investor housing credit growth to slow sharply, while total housing credit growth is also forecast to ease next year. Higher interest rates, weaker investor activity and cost-of-living pressures are adding to the strain on the housing market. At the same time, a shortage of homes and population growth are expected to provide some support. Westpac’s quarterly cash earnings declined to AUD 1.8 billion, while its lending and deposit books continued to grow.Read more

18 hours ago

The Bihar government is accelerating the digitisation of nearly five crore registered land and property documents, covering records from 1908 to the present. The initiative is aimed at making old registration records secure and accessible online, reducing the need for people to visit registration offices. The digitisation programme is part of the state’s wider efforts to modernise land administration and improve access to property information. Bihar already provides online services for land records, maps and registered property documents, while the government has also extended its land records scanning and digitisation programme through March 2027.Read more

18 hours ago

Birla Estates, the real estate development arm of the Aditya Birla Group, has expanded its development potential through its wholly owned subsidiary Unnatam Properties.Unnatam Properties has acquired nearly 90,000 sq ft of Floor Space Index (FSI) from Parinee Real Estate Builders and Parinee Contour Construction.The transaction has been valued at more than INR 159 crore, strengthening Birla Estates' development rights in the Mumbai real estate market.The acquisition is part of the company's broader strategy to expand its development portfolio and strengthen its presence in key urban markets.Read more

19 hours ago

India is preparing a major expansion of highway infrastructure along its international borders, with plans to build more than 5,000 km of roads over the next three to five years at an estimated investment of over INR 2 trillion. The proposed programme is expected to cover strategic stretches bordering China, Pakistan, Nepal, Bhutan and Myanmar, with the dual objective of improving military mobility and opening remote regions to trade, tourism and investment. The initiative builds on ongoing border connectivity work by the Border Roads Organisation and other agencies across frontier states and Union territories.Read more

19 hours ago

The Jharkhand government has set a target of securing approval for one lakh additional houses under the Pradhan Mantri Awas Yojana-Urban during the current year, as part of efforts to expand affordable housing across the state’s urban areas. The government is also reviewing the progress of existing housing projects and has directed authorities to accelerate construction and complete eligible pending houses. The focus includes improving implementation, ensuring timely fund utilisation and addressing bottlenecks that have delayed projects under the urban housing programme.Read more

20 hours ago

Leela Palaces Hotels & Resorts plans to invest up to INR 185 crore in its subsidiary Buildminds Real Estate Private Limited to fund capital requirements for the development of an upcoming five-star hotel in Ayodhya. The investment will be made through the subscription of Compulsorily Convertible Preference Shares (CCPS) in one or more tranches over one or more years, depending on the subsidiary’s funding requirements. The funds will be used towards project-related expenditure, working capital and other general corporate purposes. The company said the investment could be made on or before the financial year 2028-29. Leela Palaces currently holds a 76% stake in Buildminds and said the proposed investment would not alter its management control or economic interest in the subsidiary.Read more

20 hours ago

Six railway stations in Bihar’s Bhagalpur Lok Sabha constituency ,Bhagalpur, Kahalgaon, Naugachia, Pirpainti, Sabaur and Shivanarayanpur, have been identified for development under the Amrit Bharat Station Scheme. According to the Ministry of Railways, work at Kahalgaon, Sabaur, Shivanarayanpur and Pirpainti has been completed, while projects at Naugachia and Bhagalpur are progressing. The programme covers passenger facilities, station access, parking, waiting areas, foot over bridges, lifts, signage and other amenities, with Bhagalpur also undergoing master planning for a larger redevelopment.Read more

21 hours ago

The National Highways Authority of India (NHAI) has stepped up action against encroachments along the NH-66 stretch between Mangaluru and Talapady in Karnataka as part of efforts to improve road safety and facilitate planned highway infrastructure works. The drive is focused on removing unauthorised structures and obstructions within the highway corridor, particularly in areas where service-road and safety improvements are proposed. The action comes alongside preparations for a detailed project report covering road-safety measures on the wider Talapady-Kundapura section of NH-66.Read more