2 minutes ago

Desco Infratech Limited reported strong financial growth for FY 2025–26, driven mainly by its City Gas Distribution segment and improved project execution. The company nearly doubled its revenue and recorded significant increases in profit and EBIT. While margins saw slight moderation due to expansion into the Power and Renewable EPC segment, the move is part of a long-term diversification strategy. Key developments included the acquisition of Shri Green Agro Energies Private Limited and entry into international markets through a UAE subsidiary. The company continues to maintain a strong order book and remains optimistic about future growth.Read more

32 minutes ago

Bhutan and the World Bank have signed financing agreements worth USD 515 million for the 1,125 MW Dorjilung Hydropower Project, being developed through a public-private partnership between Tata Power and Druk Green Power Corporation. The project, located on the Kurichhu River in eastern Bhutan, is expected to generate over 4,500 GWh annually, with nearly 80% of output supplied to India. The development is aimed at strengthening regional energy security, enabling clean energy exports, and supporting Bhutan’s economic growth through increased power generation capacity.Read more

1 hour ago

Section 54 of the Income Tax Act, 1961 continues to influence residential property transactions by allowing individuals and Hindu Undivided Families (HUFs) to claim exemption on long-term capital gains arising from the sale of a residential asset. The provision permits reinvestment into another residential property within specified timelines, thereby deferring tax liability. The exemption is capped at INR 10 crore and applies only where gains are reinvested in a property located in India. The rule also mandates a three-year holding period for the new asset to retain tax benefits. The framework has remained a key consideration for home sellers, particularly in high-value urban markets, as it directly impacts reinvestment decisions, transaction structuring, and capital allocation within the residential real estate sector.Read more

1 hour ago

The Maharashtra government has proposed relaxing parking requirements for additional built-up space in key commercial blocks of Bandra Kurla Complex (BKC). The draft allows up to a 50% reduction in parking norms for existing and under-construction buildings in ‘E’ and ‘G’ blocks, subject to space constraints. The move aims to unlock unused development potential in one of Mumbai’s prime business districts. While industry bodies have welcomed the step, concerns remain about added traffic pressure in an already congested area without parallel infrastructure upgrades.Read more

2 hours ago

The Supreme Court of India has sought responses from the Centre and the Securities and Exchange Board of India (SEBI) regarding the handling of unclaimed deposits and investor assets. The matter relates to concerns over the treatment of funds and investments left behind by deceased individuals, including issues of legal heirs’ access and regulatory oversight. The court is examining whether existing mechanisms adequately safeguard such assets and ensure timely transfer to rightful claimants. The development highlights gaps in financial asset recovery processes and may have implications for investor protection frameworks and regulatory clarity.Read more

2 hours ago

BASF has announced plans to set up a global service hub and a global digital hub in Hyderabad through its Global Business Services arm, with operations expected to commence in the second quarter of the coming year. The facilities will support functions such as finance, human resources, supply chain, regulatory services, and internal consulting across the company’s global network. The announcement follows an exchange of a Letter of Intent with Telangana authorities. The hubs will form part of BASF’s global delivery network and are expected to contribute to the expansion of Hyderabad’s position as a centre for global capability centres, which have seen steady growth in recent years.Read more

3 hours ago

Larsen & Toubro reported a 3 per cent year-on-year decline in consolidated profit after tax at INR 5,326 crore for the March quarter of FY26, primarily due to a one-off gain recorded in the previous year. Revenue from operations rose 11 per cent to INR 82,762 crore, indicating steady execution across segments. The company’s order book reached an all-time high of INR 7,40,327 crore, with international orders contributing over half the total. During the period, L&T also moved ahead with divestments in its concessions portfolio, including Nabha Power and Hyderabad Metro. The company highlighted continued momentum in India’s services and digital economy, alongside board-level changes and a proposed dividend payout.Read more

3 hours ago

The Union Ministry of Environment, Forest and Climate Change has approved the Goa government’s proposal to classify 6.72 crore sq m of land along the Mandovi and Zuari riverbanks as an eco-sensitive zone. The designated area, spanning approximately 6,729 hectares, is intended to restrict further development and protect the region’s fragile river ecosystems. The proposal, submitted by the state Forest Department, follows concerns over unregulated construction along key waterways. State authorities have already directed planning agencies to halt new development within the identified stretch. The move is expected to influence land-use regulations and development activity in several river-adjacent areas across Goa.Read more

3 hours ago

KPI Green Energy reported a strong financial performance in the past week, with its consolidated net profit rising by over 49 per cent for the March quarter. The growth was mainly supported by a significant increase in revenue. The company also announced dividend payouts for the financial year 2025–26, including a final and a special dividend, subject to shareholder approval. Meanwhile, its stock price saw an upward movement during intra-day trading on the BSE, reflecting positive market sentiment around its earnings performance and overall growth trajectory.Read more

4 hours ago

Iron Mountain has increased its full-year financial outlook, supported by strong demand for data centres driven by artificial intelligence growth. The company reported better-than-expected first-quarter earnings and revenue, along with higher adjusted funds from operations. Its data centre leasing activity has seen a strong start this year, reflecting growing enterprise reliance on AI infrastructure. Alongside this, its traditional storage and records management business continues to provide steady cash flow from a diversified client base. The company has also announced a quarterly dividend, signalling confidence in its financial position and growth trajectory.Read more

4 hours ago

The Centre has cleared the launch of the South Coast Railway Zone, with operations scheduled from June 1 and headquarters in Visakhapatnam. The move fulfills a long-pending demand of Andhra Pradesh and is expected to improve railway administration, connectivity, and freight movement. Key changes include restructuring of the Waltair division and coordination with the Rayagada division. The new zone is likely to support industrial growth in North Andhra, enhance logistics efficiency, and create employment opportunities while strengthening overall railway infrastructure in the region.Read more

4 hours ago

The Union Cabinet has approved the development of a ship repair facility at Vadinar, Gujarat, with an investment of INR 1,570 crore. The project will be jointly executed by Deendayal Port Authority and Cochin Shipyard Limited as a brownfield development featuring a 650-metre jetty, floating dry docks and marine workshops. The facility is intended to address gaps in India’s capacity to repair large vessels exceeding 230 metres, enabling servicing of ships up to 300 metres. Located near key ports such as Mundra and Kandla, the project is expected to support maritime infrastructure, reduce reliance on overseas shipyards and generate direct and indirect employment in the region.Read more

5 hours ago

The initial public offering of Bagmane Prime Office REIT, backed by Blackstone, recorded a 71 per cent subscription on its opening day, reflecting early investor participation across categories. The INR 3,405 crore issue, which includes a mix of fresh issuance and an offer for sale, has attracted INR 1,150 crore from anchor investors. The REIT, headquartered in Bengaluru, holds a portfolio of Grade A+ office parks spanning over 20 million sq ft across key commercial corridors. Proceeds from the issue are earmarked for asset acquisitions, including properties within Bagmane Capital Tech Park and Bagmane Rio Business Park. The public issue remains open for subscription over the ongoing week.Read more

5 hours ago

Federal Realty Investment Trust has revised its annual core funds from operations (FFO) guidance upward, supported by steady leasing demand across its grocery-anchored shopping centres. The company reported better-than-expected quarterly earnings and revenue, reflecting stable tenant demand despite broader economic uncertainty. Rental income saw a notable increase, contributing to overall growth. The revised outlook signals continued confidence in the retail REIT’s portfolio performance. A similar trend was seen in the sector, with peers also reporting stronger-than-expected results, indicating resilience in retail-focused real estate assets.Read more

6 hours ago

India’s six largest co-working and managed office operators are expected to invest between INR 4,000 crore and INR 4,500 crore over the current and next financial years to expand their portfolios, according to Crisil Ratings. The sector is projected to increase its total capacity by 16–18 per cent to around 140–145 million sq ft, up from approximately 100–105 million sq ft at present. The expansion follows sustained growth over recent years and is being driven by rising corporate adoption of flexible workspaces for cost efficiency and operational agility. Flex operators are also increasing their share in overall office space absorption, with further expansion planned across new markets, including Tier-II cities.Read more

6 hours ago

A government panel has supported environmental and CRZ clearance for expanding JSW Dharamtar Port’s capacity in Maharashtra, even after noting environmental damage in the surrounding area. The expansion aims to increase capacity from 33.95 MTPA to 54 MTPA, mainly to support cargo needs of the JSW Dolvi steel plant. During inspection, issues such as coal and iron ore dust on mangroves, wastewater discharge, and rising river turbidity were flagged. The company has agreed to take corrective steps, while authorities have stressed the need for stricter environmental monitoring.Read more

7 hours ago

The Union Cabinet has approved railway multi-tracking projects worth around INR 23,437 crore, including the third and fourth lines between Nagda in Madhya Pradesh and Mathura in Uttar Pradesh. The 568-km corridor is part of a broader infrastructure push under the PM Gati Shakti programme aimed at increasing rail capacity, reducing congestion and supporting freight movement. The projects will enhance connectivity across 19 districts spanning six states and are expected to benefit approximately 83 lakh people. Improved access to key tourism destinations and industrial regions is also anticipated, alongside the ability to handle an additional 60 million tonnes of freight annually.Read more

7 hours ago

Oversea-Chinese Banking Corporation (OCBC) has agreed to acquire selected assets and liabilities of HSBC’s wealth and premier banking business in Indonesia through its local subsidiary, in a transaction expected to complete in the second quarter of 2027. The deal will transfer a portfolio comprising 336,000 customers, assets under management (AUM) of SGD 6.6 billion (approximately USD 5.2 billion), and around 1,300 employees to OCBC’s Indonesian arm. The consideration will be based on net asset value with a premium of up to SGD 480 million. The move comes as global lenders streamline retail operations while Singapore-based banks expand their wealth and consumer banking presence across Southeast Asia, particularly in Indonesia, the region’s largest economy.Read more

Gurugram News Desk

8 hours ago

Authorities in Gurugram have issued around 2,000 notices to property owners for illegal constructions in stilt parking areas across residential buildings. The enforcement action, taken in the past week, targets unauthorised enclosures, commercial use, and structural alterations in spaces designated for parking under approved building plans. The move follows inspections carried out by the district administration and municipal authorities amid rising complaints and safety concerns. Officials have directed property owners to remove violations within a stipulated timeframe, failing which demolition and further legal action may follow. The crackdown reflects increased scrutiny of compliance with building norms in high-density urban areas.Read more

8 hours ago

CBRE South Asia has introduced Investment IQ Pro, an AI-powered workflow platform aimed at improving real estate investment processes, at the CII BFSI Summit in Mumbai. The platform is designed to replace fragmented, manual coordination systems with an integrated digital framework connecting developers, consultants, lenders and trustees. It enables faster approvals, automated verification and enhanced compliance aligned with regulatory standards. The solution builds on CBRE’s existing Investment IQ platform and targets inefficiencies such as delayed reporting and lack of real-time visibility. The company indicated that several institutional stakeholders are already onboarding, with the platform positioned to support capital deployment, governance and cashflow management across India’s real estate sector.Read more

9 hours ago

Knowledge Marine & Engineering Works Ltd has acquired a prime waterfront land parcel in Maharashtra to expand its shipyard operations and strengthen its maritime infrastructure capabilities. The acquisition, announced in the past week, is aimed at developing a new facility to support shipbuilding, repair, and maintenance activities. The move aligns with the company’s strategy to scale its operational footprint along India’s western coastline and cater to rising demand in the maritime and port services sector. The development is expected to support capacity augmentation, improve operational efficiency, and contribute to regional industrial growth within the state’s coastal belt.Read more

9 hours ago

Godrej Properties Limited reported the addition of six new projects during the fourth quarter of FY26, with a combined estimated developable area of about 11 million sq ft and a projected booking value of INR 17,450 crore. The expansion took place in the past quarter despite relatively muted housing market conditions, indicating a continued pipeline build-up by the developer. The new projects form part of the company’s broader growth strategy aimed at sustaining sales momentum through fresh launches across key urban markets. The announcement comes alongside strong booking and cashflow performance, suggesting that the company is aligning land acquisition and project additions with demand visibility and future revenue generation potential.Read more

10 hours ago

A Canadian Premier League match saw an unusual moment when Inter Toronto striker Tomasz Skublak used his goal celebration to promote his real estate business. After scoring against Atletico Ottawa, he displayed his business card on camera, blending sport with personal branding. The 28-year-old, who balances professional football with a full-time real estate career in Ontario, later added another goal to strengthen his team’s position in the standings. His dual role highlights a growing trend of athletes managing parallel careers, while also reflecting the challenges of maintaining performance across demanding schedules.Read more

10 hours ago

National Company Law Appellate Tribunal has dismissed petitions filed by Vedanta Ltd challenging the approval of Adani Enterprises Ltd’s resolution plan for debt-laden Jaiprakash Associates Ltd. The ruling upholds an earlier decision by the National Company Law Tribunal, affirming the lenders’ selection of Adani’s bid under the insolvency process. The appellate tribunal found no merit in Vedanta’s objections, despite the latter offering a higher financial bid. The decision reinforces the primacy of the Committee of Creditors’ commercial judgement in insolvency cases and clears the way for Adani Group to proceed with the acquisition of JAL’s assets, estimated at over INR 14,500 crore.Read more

11 hours ago

Skanska AB has secured a contract to expand a data centre in Espoo, Finland, with a project value of around EUR 100 million, equivalent to about SEK 1.1 billion. The development reflects continued growth in data infrastructure demand across Europe, driven by cloud adoption and digital services. Skanska has been actively involved in similar projects in the Nordic region, focusing on energy-efficient construction. The company’s data centre portfolio has expanded in recent years as global tech firms increase investments in scalable and sustainable facilities.Read more

11 hours ago

The National Highways Authority of India (NHAI) has issued a fresh advisory warning that improper use of FASTag could lead to blacklisting, as authorities tighten enforcement of electronic toll collection norms. The directive, issued in the past week, highlights misuse such as not affixing FASTag on the vehicle windscreen, using handheld tags, or linking tags with incorrect vehicle registration numbers. NHAI has also directed issuing banks to validate registration details and blacklist tags with mismatches. The move aligns with the rollout of advanced tolling systems, including barrier-free models, where accurate and compliant FASTag usage is critical. Non-compliance may result in penalties, failed transactions, and disruption at toll plazas.Read more

Hyderabad News Desk

12 hours ago

Hyderabad has emerged as the leading market for ultra-luxury housing in South India, recording sales worth INR 8,562 crore in FY26 for homes priced above INR 10 crore. The city saw 625 transactions, significantly higher than Bengaluru and Chennai. Demand has been driven by larger home sizes, better value at similar price points, and steady infrastructure growth. Key locations such as Kokapet led activity. The report also shows a strong shift towards spacious, high-value homes, with Hyderabad witnessing consistent growth in this segment over the past few years.Read more

12 hours ago

The Karnataka government has brought over 25 lakh properties in Bengaluru under the e-Khata system, marking a large-scale digitisation of urban property records. Announced in the past week by Deputy Chief Minister D K Shivakumar, the initiative integrates Aadhaar, GPS mapping, property sketches and digital documentation to create a unified ownership database. More than 7,000 applications have already been processed, with additional outreach measures planned through camps and service centres. The move aims to improve transparency, reduce discrepancies in land records, and streamline property transactions, while supporting compliance across the city’s expanding real estate market.Read more

13 hours ago

Raymond Realty reported a net profit of INR 304.59 crore in FY26, supported by steady demand and improved project execution. The company posted total income of INR 3,039.42 crore, while booking value rose 31% year-on-year to INR 3,023 crore. Pre-sales in the final quarter stood at INR 1,519 crore, showing strong buyer interest. Despite a slight dip in collections, the company expanded its development portfolio to around INR 42,000 crore and recommended a 20% dividend, reflecting stable financial performance and continued focus on growth in key markets.Read more

13 hours ago

Housing activity in the United Kingdom showed some improvement as mortgage approvals rose to a four-month high, reflecting steady buyer interest despite economic uncertainty. Data from the Bank of England indicated that home loans, along with unsecured consumer borrowing, increased more than expected. While borrowing demand remained active, concerns around rising mortgage costs, weak sentiment and possible interest rate changes continue to affect the market outlook. Modest house price growth has also been reported, but experts remain cautious about how long this trend can continue.Read more

14 hours ago

A suburban rail blockade at Virar station earlier this week brought attention to recent service changes announced by Western Railway, including the conversion of multiple non-AC trains into air-conditioned (AC) services and the augmentation of 12-coach trains to 15-coach formations. The changes, scheduled for implementation from mid-May, include the introduction of 12 additional AC services and the upgrade of 17 existing suburban trains. While aimed at increasing capacity from 227 to 244 services and improving commuter comfort, the move has reduced the availability of non-AC trains during peak hours on the Virar–Churchgate corridor. This triggered protests by daily passengers, who entered the tracks during the morning rush, citing affordability concerns and overcrowding in remaining general services.Read more

14 hours ago

Only 15 residents in Delhi’s unauthorised colonies have applied for ownership rights under the central government’s property rights scheme, while no applications have been received for house regularisation, according to official data released in the past week. The scheme, aimed at granting legal ownership through conveyance deeds, covers over 1,700 colonies and seeks to formalise property titles. Despite its scale, uptake has remained limited due to procedural complexities, documentation gaps and lack of clarity on regularisation norms. Authorities have indicated that awareness efforts and process simplification may be required to improve participation in the programme.Read more

15 hours ago

The Kerala Road Fund Board (KRFB) has proposed a comprehensive redevelopment of the LMS–Vellayambalam road corridor in Thiruvananthapuram to address persistent traffic congestion and safety concerns. The plan, outlined in the past week, includes road widening, upgraded traffic signalling, improved signage, and enhanced traffic management at key junctions such as Vellayambalam. A detailed traffic and safety study has been commissioned through the National Transportation Planning and Research Centre (Natpac), which will inform a detailed project report (DPR). The corridor is being treated as a pilot for similar upgrades across the city, reflecting growing infrastructure pressure in high-density urban stretches.Read more

15 hours ago

The Allahabad High Court has upheld land acquisition for the expansion of the Noida International Airport in Gautam Buddha Nagar, dismissing petitions filed by affected landowners. The ruling, delivered in the past week, affirms that the acquisition process complied with the provisions of the 2013 land acquisition law. The acquisition forms part of subsequent development phases of the airport project, covering multiple villages and enabling infrastructure such as runways, cargo facilities and connectivity links. While validating the process, the court directed authorities to ensure timely rehabilitation and resettlement of displaced families, reinforcing the requirement to balance infrastructure expansion with statutory safeguards for affected residents.Read more

07 May 2026

A 19-year-old construction worker died after being hit by a steel frame during work at the Sewri–Worli Connector project in Mumbai. The accident happened while heavy iron structures were being lifted using a crane, pointing to possible lapses in handling and supervision. Police have filed a case against the crane operator and site supervisor for negligence. The incident comes amid multiple recent accidents across infrastructure projects in the Mumbai Metropolitan Region, raising continued concerns about worker safety and on-site monitoring standards.Read more

07 May 2026

The Government of India has reviewed the impact of the ongoing West Asia situation and confirmed that fertiliser and fuel supplies remain stable across the country. Fertiliser stocks are above seasonal requirements, supported by strong domestic production and imports. LPG and fuel availability continues without disruption, with no shortages reported and supply prioritised for essential sectors. PNG connections are expanding steadily, while enforcement actions are being taken against hoarding. Maritime operations, flights, and safety of Indian nationals in the region remain under control, with coordinated efforts ensuring continuity across key sectors.Read more

07 May 2026

Residential property sales across the Greater Toronto Area (GTA) rose sharply in the past month, marking the strongest monthly increase in nine months, while prices showed signs of stabilisation following a prolonged decline. Seasonally adjusted transactions reached 4,829 units, reflecting a 6.1% rise over the previous month and the second consecutive monthly gain. The region’s home price index remained largely unchanged at CAD 929,300 (USD 682,105), ending a ten-month downward trend. On an annual basis, sales increased by 7%, even as new listings declined by 9.3% and prices remained lower by 6.6%. The improvement in activity has been attributed to relatively improved affordability conditions, drawing buyers back into the market across Canada’s largest metropolitan housing region.Read more

07 May 2026

Solex Energy Ltd has announced an investment of approximately INR 4,000 crore to develop an integrated renewable energy manufacturing ecosystem in Gujarat, comprising a 5 GW solar cell facility and a 10 GW battery energy storage system (BESS) project. The Surat-based company has signed a memorandum of understanding with the state government to undertake the development in phases. The solar manufacturing unit will be executed in two stages, beginning with 2 GW capacity, followed by an additional 3 GW. The project is expected to support industrial growth, employment generation, and strengthen Gujarat’s position in clean energy manufacturing, while contributing to India’s renewable energy capacity expansion.Read more

07 May 2026

Meta Platforms is working with Morgan Stanley and JPMorgan Chase to arrange a financing package of approximately USD 13 billion for a planned data centre in El Paso, Texas, according to a source. The majority of the funding is expected to be raised through debt, with the remainder structured as equity. The development follows Meta’s decision in March to increase its investment in the project to USD 10 billion, targeting a capacity of 1 gigawatt ahead of a planned 2028 opening. The move reflects a broader trend of large technology firms accelerating capital deployment into data centre infrastructure to support artificial intelligence workloads, with sector-wide spending projected to exceed USD 630 billion this year.Read more

Mumbai News Desk

07 May 2026

The Bombay High Court has upheld the ownership of a 205-acre land parcel in Bhayandar, Thane, held by a subsidiary of Valor Estate Ltd, dismissing an appeal filed by the Union of India’s Salt Department. The ruling, delivered in the past week, confirms a 2018 civil court judgment in favour of Miraland Developers and brings closure to a dispute spanning over 40 years. The land, located within the Mira Bhayandar Municipal Corporation limits, had been under litigation across multiple forums. The decision provides legal clarity over the asset, which had remained under dispute due to competing claims linked to historic salt pan usage and government ownership assertions.Read more

07 May 2026

NEXTDC Limited has secured AUD 1.8 billion (approximately USD 1.29 billion) in new senior debt facilities to fund capital expenditure linked to recent customer contract wins and ongoing data centre developments, the company said on May 5. The financing follows a recent AUD 1.5 billion entitlement offer and a further AUD 700 million commitment from Canadian investor La Caisse. Upon financial close, NEXTDC’s total available senior debt capacity is expected to rise to AUD 8.2 billion. The move comes amid a sharp increase in contracted utilisation, which reached 667 megawatts as of late March, reflecting growing demand for data centre infrastructure.Read more

Mumbai News Desk

07 May 2026

Residents of Dharavi staged a protest in the past week against a clause in the ongoing redevelopment plan that disqualifies individuals owning a second home from availing housing benefits. Around 250 people participated in the demonstration, raising concerns over eligibility criteria linked to ownership outside Dharavi. The provision affects residents seeking inclusion in the redevelopment scheme valued at approximately INR 96,000 crore. Stakeholders have argued that the clause could exclude long-time occupants and families with evolving housing needs, prompting demands for a revision of the eligibility framework.Read more

07 May 2026

Goswami Infratech, part of the Shapoorji Pallonji Group, has seen its debt downgraded by CareEdge due to delays in its planned USD 2.8–3.1 billion fundraising. The move highlights rising refinancing risks and increased costs linked to rupee hedging. The company has extended repayment timelines for its high-yield debt to June 30 with investor approval and is now planning a mix of dollar and rupee bond issuances. While an alternate funding line has been secured, the downgrade reflects continued pressure on the group’s financial strategy and execution timelines.Read more

07 May 2026

Brookfield Asset Management has entered into an agreement with The Nuclear Company to establish a joint venture focused on developing nuclear power projects using reactor technology from Westinghouse Electric Company. Announced on May 4, the partnership will combine Brookfield’s capabilities in asset management and energy infrastructure with nuclear project delivery expertise, including engineering oversight and licensing support. The venture is expected to advance projects centred on AP1000 and AP300 reactors amid increasing global demand for low-carbon electricity. The move aligns with broader efforts by governments and investors to revive nuclear energy as a stable, emissions-free power source. The companies aim to finalise agreements in the coming months, subject to regulatory approvals, while also taking on a role in a proposed project in South Carolina.Read more

07 May 2026

Infinity Heights, a premium residential project in Guwahati, has been awarded the IGBC Gold certification by the Indian Green Building Council, recognising its compliance with sustainability standards in design and construction. The hill-top development incorporates energy-efficient systems, water conservation measures and environmentally conscious materials. The certification follows a multi-parameter evaluation covering site planning, energy usage and indoor environmental quality. Positioned in an elevated location, the project spans high-end residential units and caters to both regional and non-resident investors. The recognition comes amid growing focus on green-certified housing across India, particularly in emerging real estate markets such as Northeast India.Read more

07 May 2026

CREDAI-MCHI organised its first exclusive Property Expo for channel partners at the Jio World Convention Centre in Mumbai, bringing together more than 5,000 channel partners, 48 associations and over 50 developers. The initiative was launched to recognise the growing contribution of channel partners, who currently influence nearly 50-60% of residential sales across the Mumbai Metropolitan Region. Industry leaders highlighted the importance of transparency, trust and direct engagement in today’s real estate market. The event also reflected the increasing scale of the brokerage ecosystem across Mumbai, Pune and Nashik, while underlining the sector’s long-term growth potential driven by housing demand, redevelopment and infrastructure expansion.Read more

07 May 2026

The Brihanmumbai Municipal Corporation (BMC) is considering re-tendering a BEST-owned plot in Ghatkopar after objections were raised over leasing the land at rates below prevailing market levels. The proposal, discussed in the past week, drew opposition from Shiv Sena (UBT) members within the BEST committee, who questioned the financial prudence of the deal. The land parcel had been proposed for lease at INR 33.4 lakh per year, significantly lower than market benchmarks. The development highlights governance concerns around public land monetisation and could delay commercial utilisation of the site.Read more

Mumbai News Desk

07 May 2026

Reliance Industries Limited (RIL) has purchased a luxury triplex apartment in Mumbai’s Bandra Kurla Complex (BKC) for INR 120 crore, marking one of the notable high-value residential transactions in the past week. The apartment, located in the Signature Island complex at Bandra East, spans over 16,000 sq ft across the 15th to 17th floors. The deal, registered in April, was executed through a joint acquisition from the developer, Sunteck Realty, and a private entity. The transaction reflects sustained demand for ultra-luxury residences in Mumbai’s prime business districts, where limited inventory and strong corporate interest continue to support high capital values.Read more

07 May 2026

Companies across Australia and New Zealand are reporting early financial strain due to the ongoing U.S.-Israeli conflict involving Iran. Rising fuel prices, disrupted supply chains, and weak consumer sentiment are impacting sectors such as aviation, banking, construction, and retail. Airlines have increased fares and cut capacity, while banks are setting aside higher provisions. Businesses are also facing freight cost increases and operational challenges. Some firms have revised earnings forecasts, paused investments, or introduced cost-saving measures. The situation is adding pressure to inflation and slowing business activity across the region.Read more

07 May 2026

NHPC has declared commercial operations of the fourth unit of its 2,000 MW Subansiri Lower Hydroelectric Project, located near North Lakhimpur on the Assam–Arunachal Pradesh border. The INR 27,000 crore project comprises eight units of 250 MW each, with half now operational. Recognised as India’s largest hydropower project, the development is being executed as a run-of-river scheme on the Subansiri river. The phased commissioning is expected to enhance power generation capacity and strengthen regional electricity supply as the remaining units are brought online.Read more