2 hours ago

Meesho has been issued a tax demand notice of nearly INR 1,500 crore, including interest, for the assessment year 2023-24, which the company plans to contest. The demand is based on adjustments to its reported income. A similar notice for 2022-23 had received an interim stay from the Karnataka High Court. Meesho reported a significant widening of losses to INR 490.6 crore in the latest quarter due to a sharp rise in expenses, while revenue grew by 31 percent to INR 3,517.5 crore, reflecting operational expansion amid higher costs.Read more

2 hours ago

Polo Hotels Group has announced plans to invest around INR 103 crore to develop a five-star hotel in Silchar, Assam, marking the first luxury hospitality project in the Barak Valley region. The proposed property will feature 100 rooms and suites and aims to introduce international-standard hospitality infrastructure to the area. The project has received approval from the Assam cabinet, which has also granted customised incentives and facilitative support for its development. According to the company, the hotel is expected to strengthen the tourism, business and events ecosystem in the region while supporting broader economic growth. Polo Hotels Group said the project reflects its long-term commitment to expanding its hospitality presence in Northeast India.Read more

8 hours ago

IKEA plans to make its India operations profitable by FY28 while expanding its retail network through smaller store formats. The company intends to open about 25 small and medium stores across the country over the next four to five years as part of its omnichannel strategy. This plan focuses on improving operational efficiency, expanding physical presence, and increasing local sourcing. Financial filings show that the retailer's losses widened to around INR 1,299.4 crore in FY25 while revenue declined slightly to INR 1,749.5 crore, reflecting continued investment in expansion and market development.Read more

11 hours ago

Air India has announced the launch of two new international routes aimed at strengthening connectivity between India and key Asian destinations. The airline will start non-stop flights between Delhi and Hanoi from 1 May 2026, making the Vietnamese capital its second destination in the country after Ho Chi Minh City. It will also introduce direct services between Mumbai and Tokyo's Haneda Airport from 15 June 2026. The new routes are part of the airline's broader effort to expand its international network, respond to rising travel demand, and improve connections between India and fast-growing markets across Asia.Read more

09 Mar 2026

SAMHI Hotels has approved the acquisition of a 70% stake in RARE India for INR 47 crore, as the company looks to expand its presence in the fast-growing experiential travel segment. As part of the transaction, RARE India will also enter into an affiliation agreement with Marriott International, allowing the platform's properties to operate under the Outdoor Collection brand by Marriott Bonvoy across India, Nepal, Bhutan and Sri Lanka. The partnership is expected to strengthen RARE India's global reach through Marriott's distribution network and loyalty ecosystem. The acquisition will expand SAMHI's portfolio to around 100 hotels across ownership and affiliation models while enabling the group to tap into the rising demand for heritage and experience-led tourism.Read more

Mumbai News Desk

06 Mar 2026

Ruxmani Lying-In Hospital, a 78-year-old maternity facility in South Mumbai, is relocating to Nana Chowk to allow an 80-storey luxury high-rise on its original site. The hospital, handling 900 childbirths annually and serving underprivileged families, will operate from a temporary 7,700 sq ft facility for four years before returning to a larger dedicated building. The Dhuleva Group acquired surrounding plots for over INR 300 crore, planning 50 residences with extensive amenities. The redevelopment follows city regulations for unsafe buildings but raises concerns among heritage experts about demolition of Grade 3 heritage structures.Read more

06 Mar 2026

Mahindra Holidays & Resorts India (MHRIL) has signed a 110-key resort in Dapoli near Murud Beach, marking a further expansion of its presence along Maharashtra's coastline. The first phase of 52 keys is scheduled for launch in Q1 FY27, with the remaining inventory set to open in Q2 FY27. The addition forms part of the company's FY26-FY30 growth roadmap, under which it plans to exceed 10,000 keys under the Club Mahindra brand and scale its overall portfolio to 12,000 keys. The move reflects MHRIL's strategy of strengthening inventory in high-demand leisure destinations, catering to India's expanding base of holidaying families and growing domestic travel demand.Read more

05 Mar 2026

Indian airlines have launched more than 12 special flights to Saudi Arabia and the UAE to bring back passengers stranded due to the ongoing Middle East conflict. Carriers including IndiGo, Air India, Air India Express and SpiceJet operated repatriation services and additional flights to key cities such as Jeddah, Dubai, Muscat and Fujairah. Gulf airlines Emirates and Etihad also ran limited relief operations while suspending regular services. Over 250 flights were cancelled at major Indian airports, reflecting the scale of disruption caused by regional airspace closures.Read more

05 Mar 2026

Escalating geopolitical tensions following the US-Israel strikes on Iran have severely disrupted aviation activities across West Asia, prompting Indian airlines to suspend operations to the region and cancel more than 170 flights from India, aviation sources said. The disruptions have affected one of the busiest international air corridors linking India with the Gulf and beyond, stranding thousands of passengers and placing Indian airports on high operational alert. Carriers including IndiGo, Air India, Air India Express, Akasa Air and SpiceJet have adjusted or cancelled services as airspace closures and security advisories expand across Persian Gulf air routes. The Ministry of Civil Aviation and the Directorate General of Civil Aviation (DGCA) have advised close monitoring of Notices to Air Missions (NOTAMs) and risk assessments before operating flights through high-risk zones, while international carriers and passengers await further developments as the situation evolves.Read more

05 Mar 2026

Delhi's Indira Gandhi International Airport faced significant operational challenges this week, with 87 international flights cancelled amid escalating tensions in the Middle East. Indian carriers had already cancelled about 760 overseas flights over the previous two days due to airspace closures caused by the conflict. IGIA, the country's largest airport handling more than 1,300 flights daily, reported that westbound international flights were particularly affected. The airport management advised passengers to stay updated on schedules. The cancellations highlight how geopolitical conflicts can directly impact international travel and airline operations.Read more