24 minutes ago

Ally Leasehold Real Estate Investment Trust has cancelled its proposed additional investment in assets linked to the Village Hub Saimai project, according to a recent regulatory update. The trust informed the market that it would no longer proceed with the planned acquisition tied to the retail-focused development. While detailed financial terms and reasons behind the withdrawal were not disclosed in the brief filing, the move comes at a time when several REITs across the region are reassessing expansion strategies amid changing market conditions, funding costs and evolving retail demand patterns.Read more

54 minutes ago

The Central Bureau of Investigation (CBI) has filed its fifth chargesheet in the ongoing builder-banker nexus investigation, this time against CHD Developers Ltd and its directors over alleged fraud linked to a housing project in Gurugram. The agency alleged that homebuyers and investors were misled through false assurances and deceptive representations, causing financial losses to buyers. The case is part of a wider Supreme Court-monitored investigation into alleged collusion between builders and financial institutions in projects across India. The CBI is currently probing around 50 such cases involving stalled projects, diversion of funds and irregular loan disbursals.Read more

1 hour ago

Bajaj Holdings & Investment reported a sharp rise in profitability for the March quarter and the full 2025-26 financial year, supported by strong investment income despite lower interest earnings during the quarter. The company posted a standalone profit after tax of INR 310 crore in the quarter, compared to INR 91 crore in the corresponding period last year. For the full fiscal, profit surged to INR 4,708 crore from INR 1,292 crore a year earlier. The board also approved a final dividend of INR 130 per equity share, subject to shareholder approval.Read more

1 hour ago

Celcius Logistics and Ottobock India have opened a dedicated warehousing facility in Thane to support the storage and distribution of prosthetics and specialised medical devices across India. The 3,000 sq ft facility at Wagle Estate has been developed to manage over 2,000 stock keeping units and serve 24 clinics along with more than 200 independent partners. Under a five-year agreement, Celcius Logistics will manage warehousing and transportation operations for Ottobock India. The companies said the partnership aims to strengthen supply-chain reliability for critical healthcare products while improving delivery efficiency and inventory management. The warehouse also includes temperature-controlled storage infrastructure, and capacity is expected to be expanded by 25% over the next year.Read more

2 hours ago

The Station Area Traffic Improvement Scheme (SATIS) flyover project in Kalyan has achieved a major construction milestone with the successful launch of the final girder of its longest flyover. Built using Malaysian concrete technology, the 1,125-metre structure is expected to improve traffic flow around the heavily congested Kalyan railway station area. The larger SATIS project includes multiple interconnected flyovers aimed at reducing traffic bottlenecks and improving connectivity for daily commuters. Delays linked to land acquisition, legal matters and technical clearances had increased project costs over the years, but authorities are now accelerating the remaining work.Read more

2 hours ago

Real estate developer Alpha Corp is set to invest approximately INR 750 crore in a stalled residential project linked to Earth Infrastructure Ltd (EIL) after the Supreme Court cleared a resolution framework for the stressed asset. The investment will be directed towards completing pending construction work and reviving the delayed housing development, which has remained under financial distress for several years. The court-approved arrangement is expected to provide relief to homebuyers awaiting possession while enabling phased project execution under a revised development structure. The move comes amid increasing judicial intervention in stalled residential projects across the National Capital Region, where incomplete developments have affected thousands of buyers and lenders. The revival plan also reflects a growing trend of financially stronger developers taking over distressed real estate assets through court-monitored resolutions.Read more

3 hours ago

The Bombay High Court has heard a writ petition filed by Techno Freshworld LLP challenging a stop-work notice issued by the Maharashtra Housing and Area Development Authority (MHADA) in connection with a redevelopment project at Adarsh Nagar, Worli, Mumbai. The dispute centres on whether a No Objection Certificate (NOC) from the Indian Navy was mandatory for the redevelopment, which includes a rehabilitation building for 72 families and a sale component. MHADA halted construction and withheld the Occupation Certificate after the Navy objected to the project’s proximity to INS Trata. The developer argued that the project had received multiple approvals between 2022 and 2025 and fell outside the 50-metre restriction introduced under a 2022 Ministry of Defence circular. The Navy contended that the project was within 500 metres of the defence establishment and raised national security concerns linked to high-rise construction near operational naval facilities.Read more

3 hours ago

Home First Finance Company reported strong growth in the fourth quarter and full financial year FY26, supported by higher loan disbursements, improved asset quality and steady profitability. The company’s assets under management rose nearly 25% year-on-year to INR 15,878 crore, while profit after tax increased over 42% to INR 149 crore during the quarter. Disbursements also touched a record INR 1,572 crore. Alongside business growth, the company continued to improve its loan portfolio quality and expanded its Green Homes initiative, taking the total number of certified homes to 450 by March 2026.Read more

3 hours ago

The UK construction sector witnessed one of its steepest increases in input cost inflation in nearly four years during the past month, according to the latest S&P Global survey. Rising geopolitical tensions in the Middle East, particularly disruptions linked to the Iran conflict, led to supply chain delays and higher material costs across the sector. Construction activity also weakened sharply, with residential and civil engineering projects seeing the biggest slowdown. The survey further highlighted declining new orders, weaker business confidence, and faster job cuts as developers and contractors dealt with rising operating costs and uncertain market conditions.Read more

4 hours ago

Reliance Industries Ltd is set to undertake a scheduled maintenance shutdown at part of its Jamnagar refinery complex in Gujarat later this month, with the exercise expected to continue for three to four weeks. The shutdown will involve a crude distillation unit and certain secondary processing units at the company’s 660,000 barrels-per-day refinery catering primarily to the domestic fuel market. The maintenance programme is being staggered alongside refinery operations at Nayara Energy to avoid disruption in domestic fuel availability amid geopolitical uncertainty in West Asia and pressure on global shipping routes. Government officials stated that refinery shutdowns across India are being coordinated to ensure uninterrupted supplies of petrol, diesel and LPG while maintaining operational safety and equipment reliability.Read more

4 hours ago

Raymond Lifestyle Ltd reported a consolidated net loss of INR 52.06 crore during the March quarter of FY26, compared to a loss of INR 44.96 crore recorded in the corresponding period last year. Despite the wider quarterly loss, the company posted an 18.9 per cent increase in revenue from operations to INR 1,776.45 crore, supported by stronger domestic demand across branded textiles and apparel segments. The company also recorded its highest-ever annual total income, crossing INR 7,000 crore for the first time in FY26 following its demerger from Raymond Ltd and subsequent stock market listing in 2024. The board additionally recommended a dividend of Re 1 per equity share for the financial year ended March 2026.Read more

4 hours ago

Chandrashekhar Bawankule has directed state departments to make construction of service roads mandatory in cases where railway or infrastructure projects disrupt access routes to agricultural land. The decision was taken during a review meeting at Mantralaya earlier this week concerning issues faced by farmers in Dhule district affected by the Manmad–Indore railway project. The state government stated that executing agencies would be required to restore disrupted farm access as part of project implementation. The minister also instructed authorities to provide affected landowners a final opportunity to submit claims related to land acquisition within 15 days. The proposed measure is intended to address long-standing access concerns arising from transport and utility infrastructure projects crossing agricultural areas.Read more

5 hours ago

Swedish construction and development company Skanska reported quarterly earnings largely in line with market expectations, supported by strong construction activity and continued demand for data centres and technology-related projects. The company recorded growth in operating profit and order bookings during the quarter, while maintaining a historically high order backlog. Commercial property activity showed signs of improvement, but residential housing demand across the Nordic region remained slow. The company also flagged continued uncertainty in the US commercial property sector and said geopolitical risks were still affecting the broader market outlook.Read more

5 hours ago

Awfis Space Solutions has announced the launch of two new centres in Chennai as the flexible workspace operator continues to expand its footprint in key office markets across India. The latest addition is aimed at strengthening the company’s presence in South India amid rising demand for managed workspaces from startups, corporates and hybrid teams. Chennai has been witnessing steady office leasing activity over the past few quarters, with flexible office operators increasing their presence across major business districts. The expansion also comes as Awfis continues to grow its nationwide portfolio after its public listing and ongoing network additions across multiple cities.Read more

6 hours ago

Matrix Geo Solutions has been assigned a project by the Ajmer Division of Indian Railways to deploy Digital Twin technology for a new broad gauge railway corridor between Taranga Hill and Abu Road via Ambaji. The company will carry out drone-based LiDAR surveys to collect detailed terrain data, which will be used for topographic mapping and engineering analysis. It will also develop a 3D Digital Twin of the existing landscape along with a model of the proposed railway alignment, including bridges, tunnels, and stations, to improve planning accuracy and coordination.Read more

6 hours ago

Warehouse and logistics projects planned around the Vizhinjam International Seaport are witnessing delays as investors continue to wait for clearer visibility on cargo movement and long-term demand. Although land has already been acquired near the port, construction activity has slowed due to uncertainty over how quickly export-import operations will scale. The absence of a fully developed logistics ecosystem and supporting infrastructure has added to the hesitation. While the port is operational and handling growing maritime activity, investors are still assessing cargo stability before moving ahead with large-scale warehouse development.Read more

7 hours ago

Bouygues SA’s Feronord consortium has secured the OL32 Skavsta contract, a key part of Sweden’s East Link rail project located south of Stockholm. The contract includes the construction of nearly 36 kilometres of railway infrastructure and is expected to play an important role in strengthening regional rail connectivity in the country. The execution phase of the project is likely to begin in early 2028 and is estimated to be valued at around EUR 1.2 billion. The development adds to Bouygues’ growing international infrastructure portfolio and reflects continued investment in large-scale rail modernisation projects across Europe.Read more

7 hours ago

The Central Bureau of Investigation has filed a chargesheet against AVJ Developers (India) Pvt Ltd, associated companies, bank officials and alleged proxy homebuyers in connection with a large-scale homebuyer fraud and banking irregularities case. The agency stated that the investigation uncovered an alleged builder-bank nexus involving fraudulent representations, misuse of housing loans and diversion of funds, resulting in financial losses to homebuyers and lending institutions. Officials from Bank of India, UCO Bank and ICICI Bank have also been named in the chargesheet. The case relates to housing projects in Greater Noida and forms part of wider investigations into alleged irregularities in the residential real estate sector.Read more

8 hours ago

Knight Frank India and NAREDCO have reported a sharp moderation in real estate sector sentiment during the January–March 2026 quarter, with developers, investors and financial institutions adopting a more cautious approach amid global economic uncertainty and inflationary pressures. According to the latest Real Estate Sentiment Index released by the two organisations, the current sentiment score fell to 49 from 60 in the previous quarter, moving into pessimistic territory for the first time in recent years. The future sentiment score also declined to a neutral level of 50. The report attributed the moderation to rising crude oil prices, tightening financial conditions and geopolitical tensions affecting construction costs and project viability, although stakeholders continued to express confidence in India’s long-term housing and office market fundamentals.Read more

8 hours ago

The Bihar government has initiated the redevelopment process for Raxaul Airport with the issuance of a tender for engineering consultancy services related to runway and airside infrastructure development. Announcing the move earlier this week, Samrat Choudhary said the project is aimed at improving regional, national and international connectivity in Bihar’s border districts adjoining Nepal. The redevelopment proposal includes construction of key aviation infrastructure such as the runway, apron and taxiway. The project is expected to support trade, tourism and economic activity in the Champaran region while strengthening aviation connectivity in northern Bihar. The airport, which has remained non-operational for decades, forms part of the state’s broader infrastructure and regional connectivity expansion strategy.Read more

9 hours ago

Brigade Enterprises Ltd reported a 24 per cent year-on-year decline in consolidated net profit to INR 190.70 crore during the March quarter, while total income remained largely flat at INR 1,523.11 crore. Despite the quarterly decline, the Bengaluru-based real estate developer recorded higher annual profit and income for FY26, supported by improved sales momentum and stronger project absorption. The company’s board also approved a final dividend of INR 2 per equity share and recommended a 1:3 bonus share issue, subject to shareholder approval. Brigade Enterprises stated that pre-sales during the fourth quarter rose sharply on a sequential basis, driven by new project launches and improved pricing realisations across its residential portfolio.Read more

9 hours ago

Texas Pacific Land reported an increase in first-quarter revenue, supported by higher oil and gas royalty earnings and stronger production volumes in the Permian Basin. The company also benefited from a major land transaction tied to a large-scale data center project, which added notable revenue during the quarter. While production levels improved compared to last year, lower natural gas prices affected the average realized price per barrel. The company’s adjusted core profit came in below market expectations despite the rise in overall revenue. Major energy companies such as Chevron, Occidental Petroleum and ConocoPhillips remain among its customers.Read more

10 hours ago

The Maharashtra Pollution Control Board has intensified enforcement against ready-mix concrete (RMC) plants, issuing closure notices to 84 non-compliant units in Pune and Pimpri Chinchwad as part of a broader crackdown on air pollution. The action follows inspections across hundreds of units, identifying violations such as inadequate dust control systems, improper material handling and non-compliance with environmental norms. The regulator has also issued directions to additional units for corrective action. The move comes amid stricter regulatory norms introduced recently, including mandatory dust suppression infrastructure and location restrictions, reflecting increased scrutiny on construction-linked pollution sources across urban regions.Read more

10 hours ago

Poland’s largest construction company, Budimex reported a more than 24% year-on-year decline in net profit for the first quarter, mainly due to severe winter conditions and lower activity in its road construction business. Construction sales in Poland dropped nearly 19% as snow and low temperatures disrupted work during the initial months of the year. The company also saw reduced output after completing several high-revenue road projects executed last year. Despite weaker revenue, Budimex maintained stable profitability margins and continued to strengthen its long-term order pipeline while expanding operations into rail, energy, industrial construction and international markets.Read more

11 hours ago

The Maharashtra government has approved an extension of Metro Line 5A at an estimated cost of INR 4,063 crore, adding a key link to Sindhu Nagar in Ulhasnagar. The project is aimed at improving suburban connectivity in the Mumbai Metropolitan Region by integrating underserved areas into the metro network. The extension is expected to enhance last-mile access, reduce dependence on road-based transport and support transit-oriented development in Ulhasnagar. The approval forms part of ongoing efforts to expand metro infrastructure across the region to address rising commuter demand and urban growth pressures.Read more

11 hours ago

Domestic institutional investors (DIIs) have surpassed foreign institutional investors (FIIs) in Indian real estate investment for the first time in over a decade, marking a structural shift in capital flows, according to recent industry data including insights from JLL’s 2026 report. The trend is also visible in listed Real Estate Investment Trusts (REITs), where domestic capital—through promoters, mutual funds, and retail investors—accounts for a significant share of holdings. Data across key REITs shows promoter and domestic investor dominance, while foreign participation remains comparatively lower. This shift indicates increasing domestic confidence in income-generating commercial assets and a gradual broadening of the local investment base, supported by regulatory stability and maturing REIT markets in India.Read more

12 hours ago

The Odisha Real Estate Regulatory Authority (ORERA) has introduced a provision allowing developers to submit quarterly progress reports (QPRs) in hard copy, particularly for projects registered through offline processes. The move aims to address compliance challenges faced by older projects that are not fully integrated into digital systems. QPRs, which include updates on construction status, sales and financial disclosures, remain a mandatory requirement under the Real Estate (Regulation and Development) Act. By enabling physical submissions alongside existing digital mechanisms, the authority intends to improve reporting adherence and ensure greater transparency across registered projects in the state’s real estate sector.Read more

13 hours ago

Toivo Group Oyj has entered into an agreement for a regional construction project valued at EUR 4.1 million in Honkasuo, Helsinki. The development reflects the company’s continued focus on expanding its residential and regional project portfolio in Finland. Honkasuo has been seeing steady growth as a planned residential area, attracting new housing projects. This deal adds to Toivo’s ongoing pipeline and highlights its strategy of participating in mid-sized developments across key urban locations.Read more

13 hours ago

Royal Enfield will invest INR 2,200 crore to establish a motorcycle manufacturing facility and vendor park at Satyavedu in Andhra Pradesh’s Tirupati district, marking the company’s first major manufacturing expansion outside Tamil Nadu. The proposal was approved by the State Investment Promotion Board chaired by N. Chandrababu Naidu earlier this week. The project is expected to generate around 5,000 direct and indirect jobs while adding nearly nine lakh units to the company’s production capacity. The development includes a dedicated vendor ecosystem aimed at strengthening automobile manufacturing activity in southern Andhra Pradesh and supporting creation of a larger industrial cluster near the Andhra Pradesh–Tamil Nadu border.Read more

Lucknow News Desk

14 hours ago

The Lucknow Development Authority has revised the payment terms for its Atal Nagar housing scheme, aiming to make homes more affordable for buyers. The authority has reduced the interest rate to 7 percent and extended the repayment period to 10 years, easing the financial burden on allottees. Around 630 unsold flats have been reopened for booking, with prices starting from about INR 9.82 lakh. The move is expected to improve demand, especially among low- and middle-income groups, and help clear existing inventory.Read more

14 hours ago

A governance review at HDFC Bank has not found any major lapses, according to people familiar with the matter. The exercise was initiated after former chairman Atanu Chakraborty stepped down, citing differences between his personal values and the bank’s practices. The findings are expected to support the reappointment of CEO Sashidhar Jagdishan, whose term ends in October. The development may bring stability after recent market volatility and regulatory scrutiny, particularly following the bank’s merger with HDFC Ltd.Read more

15 hours ago

The Municipal Corporation of Delhi (MCD) has launched a detailed probe into a residential building in Vivek Vihar after a fire incident that led to nine deaths. Preliminary findings indicate possible violations such as deviation from sanctioned plans, absence of a completion certificate, and additional dwelling units beyond permitted limits. Authorities are also examining safety lapses including blocked exits, enclosed balconies, and restricted access points. The incident has once again raised concerns around enforcement of building norms and fire safety compliance in residential areas.Read more

10 May 2026

The Telangana government has decided to take over nearly INR 5,000 crore debt of the Greater Hyderabad Municipal Corporation (GHMC), providing major financial relief to the civic body. The debt, largely raised for infrastructure projects like flyovers, roads and drainage systems, had been putting pressure on GHMC’s finances due to high monthly repayments. The move also removes earlier uncertainty around sharing liabilities with newly formed municipal corporations and is expected to improve financial stability, allowing GHMC to focus more on civic services and ongoing development work.Read more

10 May 2026

Aadhar Housing Finance reported a 20.18 per cent increase in net profit to INR 1,095.88 crore for FY26, reflecting continued growth in its affordable housing-focused lending business. The mortgage lender also recorded expansion in its loan portfolio and disbursements, supported by demand from low- and middle-income borrowers. The performance comes alongside steady operational metrics and asset quality, reinforcing the company’s position in the affordable housing finance segment. The results align with broader momentum in India’s housing finance sector, where demand remains driven by urbanisation, government-backed housing schemes and credit penetration in smaller cities.Read more

10 May 2026

The Union Cabinet has approved two semiconductor manufacturing projects in Gujarat under the India Semiconductor Mission, with a combined investment of around INR 3,936 crore. The projects include a Mini/Micro-LED display manufacturing facility and a semiconductor packaging unit, expected to generate over 2,200 jobs. With these approvals, the total number of semiconductor projects in India has increased to 12, attracting investments of about INR 1.64 lakh crore. The move is aimed at strengthening India’s semiconductor ecosystem and supporting growing demand across sectors such as electronics, automotive, and industrial systems.Read more

10 May 2026

Sattva Group has launched its first residential project in Mumbai, Sattva Sumera, a redevelopment scheme in Parel with an estimated gross development value of INR 5,500 crore. The two-acre project will feature twin high-rise towers with over 20 lakh sq ft development potential and around 500 units in the first phase. Offering 2 and 3 BHK configurations, the project is positioned within a well-connected central corridor benefiting from infrastructure upgrades such as the Sewri–Worli Connector and Metro Line 11. The launch marks the developer’s entry into Mumbai’s redevelopment-driven housing market.Read more

10 May 2026

The Maharashtra government has appointed a consortium led by VFS Global to modernise property registration infrastructure through the development of 60 model sub-registrar offices across the state. The initiative aims to improve service delivery, reduce transaction timelines and enhance transparency in property registration processes. The upgraded offices will incorporate digital systems, standardised layouts and improved citizen interfaces. The project is part of broader efforts to streamline land and property transactions in one of India’s largest real estate markets, where registration efficiency plays a critical role in transaction volumes and revenue generation.Read more

10 May 2026

Prisma Properties AB has issued senior unsecured green bonds worth SEK 500 million under its SEK 1 billion framework, marking its entry into this funding programme. The bonds carry a floating interest rate linked to the 3-month STIBOR plus 265 basis points and will mature in May 2030. The issuance supports the company’s broader focus on sustainable financing while securing medium-term capital. With increasing investor interest in green assets, the move positions Prisma to fund environmentally aligned real estate projects and maintain flexibility for future fundraising.Read more

10 May 2026

Divyansh Group has completed over 25 years of operations in the Delhi-NCR residential market, with a portfolio spanning more than 5.7 million sq ft delivered and 4.4 million sq ft under construction. The developer, active across Ghaziabad, Noida and adjoining micro-markets, is targeting delivery of over 2,200 homes in the next three years. Its ongoing and upcoming projects across Siddharth Vihar, Hapur and Wave City reflect continued expansion within mid and upper mid-income housing segments, with a focus on execution and delivery timelines.Read more

10 May 2026

A Delhi court has allowed the Enforcement Directorate (ED) to proceed with the confiscation of certain properties linked to fugitive arms dealer Sanjay Bhandari in a money laundering case, according to developments reported earlier this week. The order follows Bhandari’s designation as a fugitive economic offender, enabling authorities to initiate asset seizure under applicable law. The ED had sought confiscation of assets associated with him, including overseas properties, as part of its ongoing investigation. The case has been under judicial consideration for several months, with earlier hearings involving arguments on the legality of confiscation proceedings. The court’s decision marks a procedural step in enforcement action aimed at recovering assets linked to alleged financial irregularities.Read more

10 May 2026

K Raheja Corp Homes has launched Raheja Vistas, a 7.5-acre low-density residential project in Baner Annex, West Pune, marking its entry into an emerging micro-market. The RERA-registered development will offer 2, 3 and 4 BHK units with private decks and is scheduled for completion by 2031. Around 75 per cent of the land has been allocated to open spaces, with over 40 amenities planned. The project is positioned within a larger township and incorporates sustainability features such as solar power, wastewater recycling and EV charging. The launch aligns with ongoing infrastructure investments in Pune, including metro expansion and proposed high-speed rail connectivity.Read more

10 May 2026

Madhya Pradesh Metro Rail Corporation Limited has introduced a programme allowing private events such as birthday parties, pre-wedding shoots and film productions on metro coaches and station premises in Indore and Bhopal. The ‘Celebrations on Wheels’ initiative comes as metro services in both cities report lower-than-expected ridership. The scheme permits use of stationary and moving coaches for a fee, with defined capacity limits and security deposits. Authorities stated that the move is aimed at improving public engagement with metro infrastructure while generating additional non-fare revenue from existing assets within the urban transport network.Read more

10 May 2026

Dubai’s real estate market recorded 13,977 sales transactions valued at AED 48 billion during April, reflecting steady demand across residential and commercial segments. Data released by fäm Properties indicated a 3.5% month-on-month rise in transaction volumes and a 10.7% increase in total sales value. Commercial real estate led growth, while apartments and plots also reported notable gains. Primary market transactions continued to dominate activity, accounting for a significant majority of deals. Dubai South remained the top-performing micro-market for the second consecutive month. High-value transactions included luxury apartments exceeding AED 100 million, while mid-segment housing between AED 1 million and AED 2 million accounted for the largest share of sales, indicating a broad-based demand profile across price categories.Read more

10 May 2026

Navi Mumbai Municipal Corporation Commissioner Dr Kailas Shinde conducted an extensive inspection of drain desilting operations, transport infrastructure projects and civic amenities across Navi Mumbai in the past week, directing officials to accelerate pre-monsoon preparedness and complete critical works within stipulated timelines. The review covered major natural drains in Kopri, Vashi and Sanpada, the Ghansoli–Airoli creek bridge project linked to Palm Beach Road, traffic management measures at Talavali Naka, and civic infrastructure including crematorium facilities, health centres and underpasses. During the inspection, the commissioner instructed officials to remove silt immediately after drying, undertake structural audits of ageing infrastructure, and coordinate with multiple agencies to address wastewater contamination in drains flowing into the creek system.Read more

10 May 2026

Marathon Realty has recorded sales of 100 residential units valued at approximately INR 60 crore within three days of launching a new tower, NeoValley Narmada, at its NeoHomes project in Bhandup, Mumbai. The development offers studio, 1 BHK and 2 BHK units ranging from 191 sq ft to 476 sq ft. Buyer data indicates that nearly 80% of purchasers are first-time homeowners, with limited investor participation. The project’s location benefits from connectivity via Central Railway, LBS Marg, Eastern Express Highway, and the upcoming Metro Line 4, reflecting continued end-user demand for compact housing within city limits.Read more

10 May 2026

Fervo Energy has indicated plans for an initial public offering in the United States with a target valuation of up to USD 6.5 billion. The company is also looking to raise up to USD 1.3 billion through the IPO by issuing 55.6 million shares in a price range of USD 21 to USD 24 each. The Houston-based geothermal energy developer focuses on advanced geothermal systems that provide continuous, carbon-free electricity as an alternative to solar and wind power. Major financial institutions, including J.P. Morgan, BofA Securities, RBC Capital Markets, and Barclays, are acting as joint lead book-running managers. The company plans to list on Nasdaq under the symbol “FRVO.”Read more

10 May 2026

Nila Spaces has listed its residential project VIDA in Gujarat International Finance Tec-City (GIFT City) on the Alt DRX platform, marking the first tokenised real estate asset under a newly launched Gujarat Tri-City investment framework. The initiative allows resident Indian investors to purchase fractional ownership in the project starting from as little as one square foot, significantly lowering entry barriers traditionally associated with residential real estate. The listing is positioned within a broader investment corridor spanning Ahmedabad, Gandhinagar and GIFT City. The company stated that the model combines physical asset ownership with digital transaction capabilities, aiming to improve liquidity and accessibility. The move comes amid continued interest in premium residential assets, where high capital requirements and limited liquidity have historically restricted participation to higher-income segments.Read more

10 May 2026

Ambuja Cements, part of the Adani Group, reported a nearly threefold rise in quarterly profit, supported mainly by a significant tax credit and record-high cement sales volumes. The company saw strong demand from infrastructure activity, pushing sales to its highest-ever quarterly level. Revenue also grew modestly during the period. However, rising input costs such as fuel, diesel, and packaging impacted margins. While industry demand showed steady growth during the quarter, analysts expect moderation ahead due to seasonal factors and broader geopolitical concerns affecting cost structures and demand outlook.Read more

10 May 2026

Eviction of residents at Haji Noorani Chawl in Prabhadevi has commenced, clearing the final obstacle for the 4.5-km Sewri–Worli elevated corridor being implemented by the Mumbai Metropolitan Region Development Authority. The process follows prolonged negotiations over rehabilitation and compensation, which had delayed construction near the Elphinstone bridge stretch. With most tenants vacating, authorities are preparing the site for demolition and construction. The project is expected to improve east–west connectivity in Mumbai, reduce congestion on key arterial roads, and accelerate progress on a critical missing link in the city’s transport network.Read more

10 May 2026

Grovy India Limited reported a 62 per cent increase in net profit to INR 2.9 crore for FY26, supported by higher revenue and continued demand in South Delhi’s premium housing market. Total revenue rose to INR 35 crore from INR 26 crore in the previous financial year. The company is developing residential projects spanning 1.53 lakh sq ft across key South Delhi locations, with delivery scheduled between FY27 and FY28. It has also lined up additional projects in Greater Kailash I and Defence Colony, indicating expansion within supply-constrained micro-markets.Read more