27 Aug 2025

Square Yards reported a 45 per cent increase in revenue to INR 378 crore for the June quarter, compared with INR 260 crore in the same period last year. EBITDA reached INR 4.4 crore, and gross profit rose to INR 70 crore. The company facilitated over 55,771 transactions with a Gross Transaction Value of INR 18,480 crore. Revenue growth was seen across real estate brokerage (36 per cent), financial services (60 per cent), and home renovation (21 per cent). CEO Tanuj Shori highlighted that the results demonstrate the strength of the company's operating model and the effectiveness of its diversified business approach.Read more

26 Aug 2025

The Housing and Urban Development Corporation (HUDCO) will raise up to INR 3,000 crore through non-convertible debentures (NCDs) via private placement, as part of its plan to mobilize INR 65,000 crore in FY 2025-26. Backed by strong Q1 FY26 results, HUDCO reported a 13% rise in consolidated net profit to INR 630.23 crore and a 34% jump in total income to INR 2,945.47 crore. Loan sanctions more than doubled to INR 34,224 crore, with disbursements hitting a record INR 12,812 crore. With a loan book of INR 1.34 lakh crore, HUDCO aims to channel fresh funds into housing and infrastructure projects under schemes like PMAY and Smart Cities.Read more

26 Aug 2025

Mysuru Development Authority's (MDA) online auction of stray plots drew strong global participation, with bids far exceeding reserve prices and setting new benchmarks. A 745 sq ft corner plot in Vijayanagar IV Stage, valued at INR 59.6 lakh, sold for INR 2 crore, while a 4,133 sq ft site worth INR 3.3 crore fetched INR 9 crore. With 200 sites auctioned in four phases, each received an average of eight bids, though 25 single-bid plots may be cancelled. Some bids crossed INR 20,000 per sq ft-well above Mysuru's typical market range. The exercise, MDA's first in two years, generated record revenue for city development.Read more

26 Aug 2025

Shares of Reliance Power and Reliance Infrastructure hit lower circuit limits as investors reacted to recent CBI action against Reliance Communications over alleged bank fraud of INR 2,929.05 crore. Reliance Communications' shares also fell sharply. The investigating agency conducted searches at the company's official premises and Anil Ambani's residence. Both Reliance Power and Reliance Infrastructure clarified that they operate independently, have no financial or business connections with Reliance Communications, and Anil Ambani has not been part of their boards for years. The companies confirmed their operations and stakeholders remain unaffected.Read more

26 Aug 2025

Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire a significant stake of up to 24.99% in India's Yes Bank. This deal, valued at approximately USD 1.6 billion, represents one of the largest foreign investments in the Indian banking sector. While SMBC can now nominate two directors to the board, the RBI's approval specifies that the Japanese bank will not be treated as a "promoter" of Yes Bank, meaning it will not have control over its day-to-day operations.Read more

26 Aug 2025

The Central Board of Direct Taxes (CBDT) has proposed enhanced measures to tackle benami real estate transactions. A recently submitted report recommends granting tax officials access to Aadhaar data, state property registries, and vehicle records to identify 'dummy directors' in shell companies. The panel also suggests amending laws to allow confiscation of assets linked to benami properties when the actual beneficiaries cannot be traced. These steps aim to address existing legal loopholes and strengthen enforcement against illicit property dealings.Read more

25 Aug 2025

Brigade Enterprises added 10 million sq ft to its land bank in the June quarter, with an estimated revenue potential of INR 11,200 crore. The company continues to focus on Tier-1 southern markets Bengaluru, Chennai, and Hyderabad where it sees significant growth opportunities. While sales bookings improved in value terms due to higher realisations, booked volumes declined. The company also reported strong financial results with sharp profit growth and higher income. With a strong pipeline, Brigade remains focused on steady expansion in its core markets.Read more

25 Aug 2025

Reliance Infrastructure has finalised the monetisation of its Pune-Satara Toll Road project by transferring full ownership of PS Toll Road Pvt Ltd to Singapore-based Cube Highways and Infrastructure III. The agreement is valued at an enterprise value of around INR 2,000 crore. Reliance Infra will receive equity proceeds of INR 600 crore and reduce consolidated debt by INR 1,400 crore through the transaction. The move is in line with the company's strategy to unlock value from non-core assets, maintain financial discipline, and focus on its long-term business areas.Read more

25 Aug 2025

Sundaram Home Finance has launched its affordable housing solution, Anugraha, to cater to lower and mid-income families in Tier II and III towns. The initiative is part of its Emerging Business division, which also covers small-business loans. The company began its entry into affordable housing finance last year and has now formalised it under the Anugraha brand. With over fifty branches across Tamil Nadu and Andhra Pradesh, it recorded disbursements of more than INR 200 crore in the last financial year. The company sees this new segment as an important driver of its future growth.Read more

25 Aug 2025

The Goods and Services Tax (GST) Council is preparing to review a major change in India's indirect tax structure. The council, headed by the Union finance minister and comprising finance ministers from states and union territories, will meet in New Delhi to consider reducing the current four-tier system into a simpler two-slab structure. A Group of Ministers has already given in-principle approval to the plan, which proposes 5 % and 18 % rates, along with a 40 % levy on ultra-luxury and sin goods. The meeting will also deliberate on cess rationalisation and insurance-related relief.Read more