1 minute ago

• Reserve Bank of India has relaxed norms governing the inclusion of quarterly profits in banks’ capital adequacy calculations by removing an additional qualifying condition linked to non-performing assets.
• The revised framework allows banks to include current financial year profits in Common Equity Tier 1 (CET1) capital calculations on a quarterly basis, subject to prescribed conditions and periodic financial review requirements.
• The amended directions apply to commercial banks, small finance banks and payments banks across the Indian banking sector.
• The move is expected to provide lenders with greater flexibility in capital management and capital-to-risk weighted assets ratio calculations. The central bank had earlier issued draft amendments for stakeholder feedback before finalising the revised prudential norms earlier this week.Read more

31 minutes ago

Dubai Holding has become the largest shareholder in Emaar Properties after acquiring a 22.27 per cent stake from Dubai’s sovereign wealth fund in an off-market transaction valued at around USD 6.5 billion based on prevailing market prices. Following the transaction, Dubai Holding’s shareholding in Emaar has increased to 29.73 per cent. The deal reshuffles ownership within Dubai’s state-linked investment network while keeping overall government-backed ownership unchanged. Emaar, one of the Middle East’s largest listed developers, has a diversified portfolio spanning residential, commercial, retail and hospitality assets across multiple international markets. The transaction comes amid weakness in Dubai equity markets, with Emaar shares declining around 15 per cent since the beginning of the year.Read more

1 hour ago

Nexus Select Trust reported a 12 per cent increase in net operating income (NOI) during the quarter ended March 2026 and announced a distribution of INR 346.3 crore to unitholders. The retail-focused real estate investment trust (REIT), which owns 19 shopping malls across 15 Indian cities, recorded quarterly NOI of INR 498.6 crore. During FY26, the REIT reported annual NOI of INR 1,929.6 crore and declared total distributions of INR 1,375.8 crore, equivalent to INR 9.081 per unit. The company is pursuing an expansion strategy aimed at doubling its portfolio by 2030 and recently announced the acquisition of Diamond Plaza mall in Kolkata. Nexus Select Trust currently has a retail portfolio spanning 10.7 million sq ft along with hotel and office assets across multiple Indian markets.Read more

1 hour ago

• Nara Lokesh said Andhra Pradesh plans to develop an integrated township in Amaravati inspired by Singapore’s Punggol district as part of the proposed Amaravati Economic Region.
• During meetings in Singapore, the state government sought support for township development, digital governance initiatives and trade connectivity projects under an existing bilateral MoU.
• The government is also planning to position Andhra Pradesh as a global MICE destination through convention infrastructure projects in Visakhapatnam, Amaravati and Tirupati.
• Andhra Pradesh has invited proposals for development of the Amaravati Economic Region and is seeking World Bank support for implementation of the township project.
• The discussions additionally covered blockchain-enabled trade corridors, port-led industrialisation and export connectivity for sectors including agriculture, seafood, pharmaceuticals and minerals.Read more

2 hours ago

• Reserve Bank of India imposed a monetary penalty of INR 31.80 lakh on YES Bank for non-compliance with certain Know Your Customer (KYC) provisions linked to Central KYC Records Registry identifiers.
• Separately, the central bank also levied a penalty of INR 1.8 lakh on Hinduja Housing Finance for non-compliance with governance-related regulatory directions.
• The actions follow supervisory inspections conducted by the RBI with reference to the financial position of the institutions.
• The regulator stated that the penalties were based on deficiencies in regulatory compliance and were not intended to question the validity of transactions or agreements entered into by the entities.Read more

2 hours ago

Equinix plans to invest more than USD 190 million to develop a new data centre in Kuala Lumpur, marking its fourth facility in Malaysia. The project will be located close to the company’s existing data centre campus in the Malaysian capital and will accommodate more than 2,200 cabinets. A significant portion of the facility’s capacity will support liquid cooling systems designed for artificial intelligence and high-performance computing workloads. The expansion forms part of Equinix’s long-term growth strategy in Malaysia, where the company has secured adjacent land parcels for future development. The announcement comes as Malaysia’s data centre sector faces increasing scrutiny over electricity and water consumption, alongside geopolitical concerns linked to the use of Southeast Asian markets for access to restricted AI semiconductor technology.Read more

3 hours ago

• BMC has initiated the development of an integrated digital platform to monitor construction and demolition waste movement across Mumbai.
• The proposed system will combine AutoDCR approvals, GPS-enabled vehicle tracking, geo-fencing and enforcement tools to curb illegal debris dumping.
• The initiative comes amid rising construction waste generation linked to redevelopment projects, metro corridors and road concretisation works across the city.
• The civic body has proposed penalties of up to INR 25,000 per vehicle for violations, while integrating recycling facilities, transporters and ward-level monitoring systems into a unified platform.Read more

3 hours ago

• Devendra Fadnavis said Maharashtra aims to become a USD 1 trillion economy by 2030 and a leading global regional economy by 2047.
• The Chief Minister stated that Maharashtra currently has a USD 660 billion economy and contributes nearly 15 per cent to India’s economy.
• He highlighted large-scale infrastructure investments including the Mumbai Trans Harbour Link, Samruddhi Mahamarg, Navi Mumbai International Airport and Vadhavan Port.
• Fadnavis said Maharashtra is positioning itself as a hub for AI, semiconductors, EVs, advanced manufacturing, clean energy and data centres.Read more

4 hours ago

• Toyota Kirloskar Motor plans to establish a third manufacturing plant in India at Maharashtra’s Bidkin Industrial Area.
• The facility will have an annual production capacity of 100,000 vehicles and is expected to begin operations in the first half of 2029.
• The proposed unit will manufacture a new SUV model and employ around 2,800 people.
• The expansion comes as Toyota increases production capacity amid rising SUV demand in India and nearby export markets.Read more

4 hours ago

• Central Bureau of Investigation conducted searches across 17 premises in Mumbai as part of investigations involving Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited.
• The searches relate to alleged diversion of bank funds and complaints filed by public sector banks and Life Insurance Corporation of India.
• According to the agency, the alleged financial exposure across the cases under investigation stands at around INR 27,337 crore.
• The searches covered residential premises of company directors and offices of intermediary entities allegedly linked to fund diversion in cases associated with the Reliance ADA Group led by Anil Ambani.Read more

5 hours ago

• Workspace rejected Saba Capital’s proposal to wind down the business over 12 months, stating that the plan was not achievable and would not maximise shareholder value.
• Saba Capital, which holds around 18.21% stake in the company, has also proposed removing five non-executive directors and appointing four new directors ahead of the July 23 AGM.
• The office-space provider continues to face pressure from hybrid working trends, lower rental growth and rising costs, with the company earlier warning of a sharp decline in fiscal 2027 profit.Read more

5 hours ago

• Mumbai’s Slum Rehabilitation Authority (SRA) has cancelled 181 out of 228 slum redevelopment joint venture projects due to slow progress and feasibility concerns.
• Several government agencies reportedly failed to complete basic groundwork such as surveys, beneficiary verification and redevelopment planning.
• The affected projects cover nearly 2.2 lakh slum households across Mumbai and nearby areas.
• A few projects under agencies like BMC, MHADA and MMRDA will continue, while others may now shift to cluster redevelopment models.
• The move comes amid growing concerns over stalled SRA projects, delayed rehabilitation and long-pending redevelopment across the city.Read more

6 hours ago

Australia is expected to announce one of its most significant housing and property tax reform packages in decades as part of the federal budget scheduled for release later on Tuesday. The centre-left Labor government is reportedly considering changes to capital gains tax concessions and negative gearing rules amid growing concerns around housing affordability and intergenerational inequality. Treasury projections indicate the budget deficit will narrow more than previously forecast due to stronger commodity-linked revenues, with the fiscal position improving by AUD 44.9 billion compared to earlier estimates. The budget is also expected to include additional defence spending, fuel reserve investments and savings measures linked to welfare reform. The proposals come as Australia faces elevated inflation, rising interest rates and growing pressure on household affordability.Read more

7 hours ago

• Haryana has introduced a digital building plan approval system for residential properties under municipal areas to reduce delays and improve transparency in approvals.
• The online platform allows citizens, architects and developers to submit and track applications without visiting government offices physically.
• The rollout comes as the state continues broader urban governance reforms, including online civic services, digital approvals and simplified construction compliance norms.
• Along with the launch, the state government also announced welfare transfers of over INR 2,115 crore and expanded digital services for farmers and residents.Read more

8 hours ago

• Anant Raj Ltd reported a 25% increase in consolidated net profit for the quarter ended March 2026, supported by higher income growth.
• The company posted a net profit of INR 148.71 crore during the quarter, compared with INR 118.79 crore in the corresponding period of the previous financial year.
• Total income for the January–March quarter rose to INR 675.41 crore from INR 550.90 crore a year earlier.
• For the full 2025–26 financial year, the developer recorded profit growth to INR 557.02 crore, while annual income crossed INR 2,579 crore.
• The Delhi-NCR-focused developer continues to expand its operational and financial performance amid sustained activity in the residential property market.Read more

9 hours ago

• UP-RERA has started an online complaint facility for homebuyers facing excessive transfer charges during property transfers.
• Complaints can now be filed digitally through Form-M on the authority’s e-court portal.
• The move follows the 10th amendment to UP-RERA General Regulations, 2019, which fixed limits on transfer processing fees.
• Developers cannot charge more than INR 1,000 for transfers among family members or legal heirs and INR 25,000 for non-family transfers.
• The authority introduced the mechanism after receiving several complaints about builders demanding very high transfer charges in housing projects.Read more

Bangalore News Desk

10 hours ago

Bengaluru Integrated Rail Infrastructure Development Enterprise Limited has awarded a INR 1,514 crore contract to the Integral Coach Factory (ICF), Chennai, for the supply of 153 air-conditioned broad-gauge metro-style coaches for Bengaluru’s suburban rail project. The coaches will serve Corridors 2 and 4 of the Bengaluru Suburban Rail Project and are expected to be delivered within 18 months. Officials stated that the order aligns with the targeted operationalisation of the Chikkabanavara–Yeshwanthpur section under Corridor 2. The contract includes design, manufacturing, testing, commissioning and regulatory approvals for the rolling stock. The development marks a significant execution milestone for the long-delayed suburban rail network aimed at easing traffic congestion and improving regional connectivity across Bengaluru’s expanding urban corridor.Read more

Mumbai News Desk

11 hours ago

• Mahanagar Gas Limited (MGL) has issued advisories warning residents against fake piped gas registration messages, payment links and fraudulent dealership websites.
• The alert follows incidents in Mumbai where fraudsters allegedly targeted housing societies and residents using fake customer verification and gas connection schemes.
• MGL has clarified that all official applications, payments and dealership-related communications are processed only through authorised channels and its official website.
• The company has advised consumers not to share OTPs, banking details or make payments through unauthorised links, while urging citizens to report suspicious activity immediately.Read more

12 hours ago

IIT Madras Global is planning to launch centres in four countries by the end of this year as part of its broader strategy to strengthen international research, innovation and startup collaborations. The expansion is aimed at helping Indian deep-tech startups and researchers access global markets, industry partnerships and investment opportunities. The proposed centres are expected to come up in regions including the US, Germany, Dubai and Malaysia. IIT Madras is also focusing on technology commercialisation, applied research and international academic programmes as it looks to build a stronger global innovation network.Read more

13 hours ago

A sessions court in Ahmedabad has denied bail to Dashrath Patel, owner of Popular Builders, in a land fraud case involving alleged forged succession documents and disputed ownership records related to land in Godhavi village. Investigators alleged that fake legal heir documents were created to secure illegal mutation entries before the land transaction was executed decades ago. The court considered the seriousness of the allegations, Patel’s previous antecedents, ongoing investigation and concerns over witness influence while rejecting the plea. The case is part of a wider investigation into multiple disputed land transactions and alleged document forgery matters in Gujarat.Read more

14 hours ago

Andhra Pradesh is set to strengthen its aerospace and defence ecosystem with the proposed Aircraft Integration and Flight Testing Complex at Puttaparthi in Sri Sathya Sai district. The facility, linked to India’s Advanced Medium Combat Aircraft (AMCA) programme, will support aircraft assembly, integration and flight testing activities for indigenous fighter jets and unmanned systems. The project has received in-principle approval from the Ministry of Defence and is expected to attract investments of nearly INR 1 lakh crore over time. The state government has also committed land allocation, runway expansion and aviation infrastructure support for the strategic defence project.Read more

15 hours ago

The Pune district administration has started reclaiming government land leased on a long-term basis after identifying several violations during a large verification exercise across the district. Authorities found breaches in nearly 240 land parcels out of more than 2,100 leased properties that were reviewed. Violations included illegal construction, unauthorised land use changes, non-renewal of leases, sub-letting and occupation beyond approved limits. Orders to take back 15 plots have already been issued after hearings. The action follows increased scrutiny over government land transactions in Pune, including the Mundhwa and Tathawade land cases.Read more

13 May 2026

The National Institute of Rock Mechanics (NIRM) has completed geophysical investigations for the proposed Vadhvan Port project in Navi Mumbai, identifying subsurface rock resources required for construction activity. According to the Ministry of Mines’ Annual Report 2025-26, the study covered three quarry sites in Palghar district and estimated that the project would require more than 65 million tonnes of armour rock and aggregates. The investigations mapped rock conditions up to a depth of 40 metres, identifying weathered rock, boulders and hard rock suitable for engineering and marine infrastructure works.Read more

13 May 2026

• Retail leasing across malls and high streets in India’s top seven cities fell 15 per cent quarter-on-quarter to 3.1 million sq ft during the January-March period, as per JLL.
• The decline was mainly due to limited fresh supply of institutional-grade mall space, with only 0.25 million sq ft added during the quarter compared to 2.5 million sq ft in the previous quarter.
• On a year-on-year basis, leasing remained stable, indicating steady demand from retailers despite supply constraints.
• Fashion and apparel led leasing activity with a 33 per cent share, followed by entertainment at 16 per cent and food & beverage at 15 per cent.
• Indian retailers dominated the market with a 79 per cent share, supported by expansion from D2C brands and rising physical retail adoption.Read more

13 May 2026

ASK Curated Luxury Asset Fund I, a real estate investment platform co-sponsored by India Sotheby’s International Realty and ASK Property Fund, has made its first investment in Goa by committing INR 63 crore to a luxury housing project. The investment has been directed towards “Ananda Nilaya,” a villa development by Priority Group in Arpora, North Goa. Spread over 5.12 acres, the project will feature 28 villas and has received all key approvals, including RERA clearance. The developer has a long track record in Goa’s residential market with multiple completed and ongoing projects.Read more

13 May 2026

• The Enforcement Directorate has filed a prosecution complaint against TDI Infrastructure Ltd and its directors in a money laundering case linked to delayed real estate projects in Haryana.
• The investigation is based on multiple FIRs filed by Delhi Police and the Economic Offences Wing following complaints from homebuyers.
• The agency alleged that the company collected around INR 4,619.43 crore from over 14,000 buyers across several residential and commercial projects launched between 2005 and 2014.
• According to the ED, funds collected from buyers were diverted to group entities and other purposes instead of project construction, leading to major delays in possession and incomplete developments.Read more

13 May 2026

Keystone Realtors Ltd reported a decline in consolidated net profit for the March quarter as higher operating expenses weighed on earnings despite a sharp increase in total income. The company’s revenue more than doubled during the quarter, supported by strong business activity and project execution. However, rising costs impacted profitability both quarterly and annually. During the last fiscal year, the Mumbai-based developer also recorded a significant drop in annual profit even as income increased. Keystone Realtors, which operates under the Rustomjee brand, continues to maintain a strong development pipeline across the Mumbai Metropolitan Region with several ongoing and upcoming projects.Read more

13 May 2026

• New York City’s Rent Guidelines Board has kept open the possibility of a rent freeze for nearly one million rent-stabilized apartments after approving a preliminary rent increase range of 0% to 2% for one-year leases and 0% to 4% for two-year leases.
• The proposal is being viewed as an early test of Mayor Zohran Mamdani’s campaign promise to freeze rents amid rising housing costs and affordability concerns across the city.
• Tenant groups demanded a complete rent freeze or rollback, while landlord bodies including the Real Estate Board of New York argued that rising operating and maintenance costs are putting financial pressure on property owners.Read more

13 May 2026

Indian Railways has temporarily paused fresh procurement orders for AI-enabled surveillance cameras while revised operational guidelines are being finalised, according to a report by The Economic Times. The review comes amid a wider digital infrastructure expansion programme undertaken during 2025-26. Indian Railways has deployed AI-based video surveillance systems at 1,874 stations, commissioned IP MPLS telecom infrastructure at 1,396 stations and integrated automatic real-time passenger announcement systems at 1,405 stations. The railway network is also installing tunnel communication systems across difficult terrain projects, including the Udhampur-Srinagar-Baramulla Rail Link corridor.Read more

13 May 2026

• Nirala World has announced plans to develop a premium shopping mall project, ‘Nirala Diadem’, in Greater Noida as part of its commercial real estate expansion strategy.
• The mall will be developed on a 2.5-acre land parcel, with a total planned investment of INR 525 crore.
• The developer has already invested INR 175 crore towards land acquisition, while INR 350 crore has been earmarked for construction activities.
• The project is scheduled for completion in the early part of 2030 and is aimed at addressing growing retail space demand in Greater Noida.
• The company currently has an existing portfolio of residential and commercial developments across Greater Noida and Greater Noida West.Read more

13 May 2026

The Mumbai Metropolitan Region Development Authority (MMRDA) has issued e-tenders for the lease of nine commercial and residential plots in the ‘G’ Block of Bandra-Kurla Complex, Mumbai, for a lease period of 80 years. The plots comprise five commercial parcels and four residential parcels with a combined built-up area exceeding 2.12 lakh sq m. According to the tender notice issued on 11 May 2026, the reserve prices for the plots range from approximately INR 374.95 crore to INR 1,432.55 crore. The commercial plots carry a reserve rate of INR 4,82,992 per sq m of built-up area, while residential plots are priced at INR 3,52,008 per sq m. The bidding process will remain open until 25 June 2026, with pre-bid meetings and site visits scheduled later this month.Read more

13 May 2026

• Australia’s Labor government is expected to introduce a one-year transition period for proposed changes to capital gains tax discounts and negative gearing rules in the upcoming federal budget.
• The government plans to remove the 50% capital gains tax discount on assets held for over a year from July next year, while allowing temporary relief for investments made after the budget announcement until mid-2027.
• Negative gearing benefits are likely to remain for existing investors under grandfathering provisions, while only newly built homes may qualify for the tax benefit in the future to support housing supply and affordability.Read more

13 May 2026

• Blackstone-backed Nexus Select Trust is close to acquiring Galaxy Group’s mixed-use project in Guwahati for nearly INR 1,300 crore.
• The development spans around 1.2 million sq ft and includes retail, office and hospitality components.
• The project is currently under construction and is expected to strengthen Nexus Select Trust’s presence in eastern and northeastern India.
• The deal reflects growing institutional interest in retail-led and mixed-use developments in emerging Tier-II cities.
• Guwahati has been witnessing rising commercial activity due to improving infrastructure, urbanisation and increasing consumer demand.Read more

13 May 2026

Housing societies and residential projects in Mumbai will now be able to develop larger wellness and recreational facilities without these spaces being counted under the project’s Floor Space Index (FSI). The Maharashtra government has amended provisions under DCPR 2034 and increased the permissible FSI-free area for such amenities from 2% to 4% of the total built-up area. The revised rules include facilities such as gyms, yoga centres, meditation rooms and recreation areas. The move is expected to help residential societies create better community infrastructure as demand for lifestyle and wellness amenities continues to rise across Mumbai’s housing sector.Read more

13 May 2026

Hong Kong-based Crown Worldwide Group has expanded its India operations with the launch of a new logistics and records management facility in Coimbatore. Spread across 4.5 acres, the development will support storage, digitalisation and corporate asset management services for businesses across South India. The company said the project has an initial storage capacity of more than 468,000 Standard Carton Equivalents, with plans for future expansion. The facility will also support Crown Relocations and Crown Workspace operations. Crown Worldwide highlighted India as one of its fastest-growing markets, driven by rising demand for secure and scalable information management infrastructure.Read more

13 May 2026

• Amazon Web Services received approval to move ahead with its Santiago data center project after residents lost an environmental challenge.
• Local residents had opposed the project over concerns related to a possible high-voltage power line and environmental impact.
• AWS said the facility is being designed to minimise energy and water consumption while meeting Chile’s environmental requirements.
• The project is part of AWS’ planned USD 4 billion investment in Chile over the next 15 years.
• Experts said Chile’s growing appeal for data center investments must be balanced with environmental and community concerns.Read more

13 May 2026

• Cyberabad EOW registered a case against directors and partners of two firms over an alleged villa project fraud in Pocharam near Hyderabad.
• More than 40 investors reportedly lost around INR 39.57 crore in the proposed “Rocketry” villa project spread across 13 acres and 22 guntas.
• Buyers alleged that the developers collected large upfront payments by assuring them that HMDA and RERA approvals would be secured soon.
• Police found allegations that the same villa units were allotted to multiple buyers through separate agreements.
• Officials are now examining financial transactions, project documents and property agreements linked to the case.Read more

13 May 2026

• Shares of State Bank of India fell around 4% after the bank reported weaker-than-expected March quarter earnings and lower lending margins.
• SBI’s net interest margin declined to 2.8% from 2.98% in the previous quarter, raising concerns over rising funding costs and profitability pressure.
• Brokerages including JPMorgan Chase and Bernstein flagged weaker core earnings and cautioned about slower earnings momentum ahead.
• Analysts said stable asset quality and healthy loan growth remained positives, but may not fully offset pressure on net interest income.
• Despite near-term concerns, brokerages maintained a positive long-term outlook on SBI due to its strong balance sheet, scale and leadership in the banking sector.Read more

13 May 2026

• Nitin Gadkari inaugurated a Multi-Lane Free Flow (MLFF) barrier-less tolling system at the Mundka-Bakkarwala Toll Plaza on Delhi’s Urban Extension Road-II corridor.
• The plaza is the second MLFF-enabled tolling facility in India after the Choryasi Toll Plaza on NH-48 in Gujarat, which became operational earlier this month.
• National Highways Authority of India plans to implement the technology at 17 toll plazas across nine states by September 2026, followed by over 108 additional plazas under the second phase by March 2027.
• The system uses Automatic Number Plate Recognition (ANPR) technology alongside FASTag-based toll collection to enable uninterrupted vehicle movement through toll corridors.
• The initiative is expected to reduce congestion, improve highway travel efficiency, lower fuel consumption, and support faster inter-city road connectivity.Read more

13 May 2026

• A Gurugram-based real estate firm owner has been arrested by Gurugram Police in connection with an alleged land fraud involving more than INR 15 crore.
• The accused, identified as Mahesh Mugam, was taken into custody by the Economic Offences Wing following a complaint linked to a proposed land transaction in Palwal district.
• Police stated that the complainant was allegedly shown documents related to the sale of nearly 11.33 acres of land in Ghughera village and subsequently paid around INR 17 crore towards the transaction and associated expenses.
• Investigators alleged that the accused failed to complete the land registration process and later became unreachable, highlighting continued concerns around fraudulent land transactions and due diligence risks in the NCR property market.Read more

13 May 2026

• Emaar Development reported sustained demand across its residential developments during the first quarter.
• The company recorded property sales worth AED 20.1 billion in Q1.
• Dubai’s residential market continued to see strong activity from both local and international buyers.
• Demand remained healthy across premium, off-plan and integrated residential communities.
• Market momentum has been supported by investor confidence, population growth and long-term residency initiatives in the UAE.Read more

13 May 2026

Gurugram’s real estate market has continued to witness strong development momentum, with the Real Estate Regulatory Authority (RERA) approving 35 projects during the first four months of 2026. The approved developments represent an estimated investment of nearly INR 27,000 crore and include a dominant share of residential projects. More than 11,500 residential and commercial units are expected to be developed across these schemes, underlining sustained developer confidence and rising housing demand in the NCR market. The approvals further reinforce Gurugram’s position as one of India’s most active real estate destinations, supported by infrastructure expansion, corporate demand and continued investor interest in both housing and mixed-use developments.Read more

13 May 2026

• Industrial Logistics Properties Trust said its Mountain JV entered into a USD 1.62 billion mortgage loan agreement secured by 90 industrial and logistics properties, according to an SEC filing.
• The financing transaction is expected to support the joint venture’s capital management and liquidity plans amid continued activity in the industrial real estate sector.
• Demand for logistics and warehousing assets has remained steady globally, driven by e-commerce growth, supply chain expansion and long-term distribution requirements.Read more

13 May 2026

India’s construction equipment industry reported a marginal decline in overall sales during FY26 as slower infrastructure execution, project delays and liquidity concerns affected domestic demand. Total equipment dispatches fell nearly 2 per cent year-on-year, while domestic sales declined around 7 per cent. Despite these challenges, exports recorded strong growth of 32 per cent, helping the sector maintain stability. Industry body ICEMA said delays in land acquisition, slower contractor payments and higher equipment costs due to new emission norms impacted the market. However, the industry remains optimistic about long-term growth driven by continued infrastructure development across the country.Read more

13 May 2026

• Micro Mitti will invest around INR 300 crore in a new commercial project in Indore as part of its expansion plans.
• The project, named ‘Cybercity by Micro Mitti’, is spread across 2.3 acres and will offer 4.48 lakh sq ft of leasable space.
• The development will mainly include office spaces along with supporting retail areas.
• The company aims to cater to Global Capability Centres (GCCs) and AI-led enterprises through the project.
• Construction is underway, and the project is expected to be completed by April 2029.Read more

13 May 2026

The Securities and Exchange Board of India (SEBI) approved a series of regulatory amendments earlier this month aimed at easing compliance requirements for Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and foreign portfolio investors (FPIs). The decisions were cleared during SEBI’s 213th board meeting held in Mumbai. The regulator introduced operational flexibility for AIFs winding up schemes, allowed FPIs to undertake net settlement of cash market transactions, and expanded investment options for REITs and InvITs. The board also approved revised ‘fit and proper person’ norms for intermediaries and adopted conflict-of-interest measures applicable to SEBI officials and board members. Several proposals were framed as ease-of-doing-business measures intended to reduce operational burdens while maintaining regulatory oversight and investor safeguards across India’s capital markets ecosystem.Read more

13 May 2026

The Ministry of Road Transport and Highways has expanded eligibility norms for build-operate-transfer highway projects by allowing sovereign wealth funds, pension funds, infrastructure funds and private equity investors to participate in bidding under the public-private partnership model. The move comes after four highway projects worth nearly INR 22,000 crore failed to attract bids from private developers due to concerns over existing contract conditions. Through a modified request for proposal framework, the ministry has eased qualification norms and allowed institutional investors to partner with concessionaires or engineering firms for technical execution, aiming to improve private participation in highway development projects.Read more

13 May 2026

• Patna Municipal Corporation has provided nearly INR 40 lakh as rebate to around 35,948 property taxpayers for making early payments in the current financial year.
• The civic body collected close to INR 11 crore in property tax during the initial weeks of the financial year through the rebate scheme.
• A 5% rebate on the principal tax amount is being offered for lump-sum payments made before June 30 under the Bihar Municipal Property Tax Rules, 2013.
• Nearly 60% of taxpayers used online payment methods, including UPI platforms and the municipal portal, showing rising digital adoption.
• PMC has also extended counter timings and started awareness drives as it aims to improve collections and reduce pending dues across city zones.Read more

13 May 2026

KPI Green Energy has secured an INR 621 crore contract from NTPC Renewable Energy for balance of system works related to a 500 MW solar PV project in Bikaner, Rajasthan. The order has been split into 300 MW and 200 MW blocks and includes supply, transportation, installation, testing, commissioning, civil works and maintenance services. The project marks KPI Green Energy’s entry into Rajasthan’s renewable energy market, a state that has emerged as a major hub for large-scale solar developments due to its strong solar radiation, land availability and expanding clean energy infrastructure.Read more

13 May 2026

Rajdarbar Developments Private Limited has lodged a complaint with Jaipur police alleging illegal excavation and violation of a court stay order on disputed land in Chimanpura village under Bhankrota police station limits. The company claimed that unidentified persons entered the land with heavy machinery and carried out excavation despite restrictions imposed by the SDO (South) court. Police officials confirmed that the complaint has been received and an investigation is underway. The dispute is part of a series of ongoing land-related complaints involving the developer and properties in Jaipur’s rapidly expanding outskirts.Read more