12 Aug 2025

The Finance Ministry recently introduced the Taxation Laws (Amendment) Bill, 2025, aimed at providing tax exemptions for subscribers of the newly launched Unified Pension Scheme (UPS). This bill ensures that all tax benefits previously available under the New Pension Scheme (NPS) will now apply to the UPS, which came into effect from April 1, 2025. Besides pension-related changes, the bill also proposes amendments to the block assessment process in income tax search cases and offers specific direct tax benefits to Saudi Arabia's public investment funds. These updates seek to improve tax administration, encourage pension savings, and strengthen foreign investment ties.Read more

12 Aug 2025

The Greater Mohali Area Development Authority (Gmada) has held a numbering draw for shops-cum-offices (SCOs) and bay shops in Aerocity under its land-pooling scheme, limited to existing letter of intent (LOI) holders. Lists of eligible applicants were published for verification, with objections accepted only before a set deadline. The draw precedes actual possession, which will follow completion of development works in the coming months. Applications include 40 for 60 sq yd bay shops, 131 for 100 sq yd SCOs, and 29 for 121 sq yd SCOs. While Aerocity's commercial growth is promising, residents urge Gmada to address civic issues for sustainable development.Read more

12 Aug 2025

In an exchange filing earlier this week, NBCC India reported a consolidated net profit increase of nearly 26 per cent for the opening quarter of the current fiscal year compared to the same period a year ago. The company also recorded double-digit revenue growth and announced a first interim dividend for shareholders. The strong quarterly performance reflected the firm's expanding project portfolio and steady execution capabilities.Read more

12 Aug 2025

Property tax collections in Gurugram have reached nearly three-quarters of the annual target, while Manesar has already surpassed last year's revenue, thanks to an AI-powered tax system. The technology uses generative AI chatbots to engage taxpayers, identify reasons for non-payment, and categorise them for tailored follow-up-ranging from quick reminders to solutions for genuine challenges. Piloted in Yamunanagar, the system has boosted payments and reduced staff workload. Officials credit it with improving efficiency, while residents urge that the extra revenue be channelled into better amenities, infrastructure upgrades, and stronger public services to address urban needs alongside financial gains.Read more

12 Aug 2025

The Brihanmumbai Electric Supply & Transport (BEST) Undertaking recently floated a tender seeking corporate bids to lease its 35 upscale staff apartments on Altamount Road for a three-decade term, starting at a base price of INR 263 crore. Located beside Mukesh Ambani's Antilia, a few units are currently occupied by senior BEST officials, though most remain vacant. The tender stipulates residential-only use, forbids subletting, and places maintenance, repairs and potential redevelopment (if approved by BMC) on the lessee. This move comes as BEST battles mounting cumulative losses nearing INR 9,500 crore while eyeing earlier land leasing plans and fare hikes to shore up finances.Read more

12 Aug 2025

Signature Global Ltd has reported a sharp rise in its consolidated net profit for the first quarter of FY26, hitting INR 34.43 crore five times more than the INR 6.79 crore it earned during the same period last year. This strong growth came on the back of a significant boost in total income, which nearly doubled to INR 898.35 crore, driven by increasing residential demand. The Gurugram-based company is a key player in India's real estate landscape and has been capitalizing on the country's robust appetite for affordable and mid-income housing.Read more

12 Aug 2025

Varmora Granito Ltd, a leading tile and bathware manufacturer based in Rajkot, has filed its draft red herring prospectus with the Securities and Exchange Board of India to launch its IPO. The offering includes a fresh issue worth INR 400 crore and an Offer for Sale (OFS) of 5.24 crore shares by promoters and investor Kastura Investments. The funds raised will primarily be used to repay borrowings of both the company and its subsidiaries, and for corporate purposes. The IPO will be managed by JM Financial, Goldman Sachs India, and SBI Capital Markets.Read more

12 Aug 2025

Ramco Cements reported a fivefold jump in consolidated net profit to INR 181.58 crore in the first quarter of FY26, driven by higher cement prices and better operational efficiency. Although the company's revenue dipped marginally to INR 2,074 crore, a 23% growth in EBITDA and reduced expenses helped lift the bottom line. Cement sales volume declined by 7% due to early monsoon impact in Kerala and slowing infrastructure demand in the eastern region. Capacity utilisation also fell, but the company remains focused on expanding capacity to 30 MTPA by March 2026.Read more

12 Aug 2025

Vijayawada Municipal Corporation (VMC), in coordination with NTR district officials, has formed a special Vacant Land Tax Committee to recover outstanding dues of over INR 870 crore. Although the VMC raised a demand of INR 237 crore in the last financial year, collections amounted to just INR 19 crore. A major challenge has been identifying landowners who live elsewhere. Officials are now using sale deed records and district databases to trace them. Notices will be issued to top defaulters across all secretariats, beginning with areas where defaults are lowest.Read more

11 Aug 2025

The International Finance Corporation (IFC) has committed USD 150 million as an anchor investor in HDFC Capital's newly launched H-DREAM Fund, a USD 1 billion initiative targeting affordable and mid-income housing projects across India. The fund, managed by HDFC Capital Advisors, aims to support the construction of over 25,000 green-certified homes following EDGE standards. With this investment, IFC expects to mobilise an additional USD 850 million from global and domestic institutional investors. This move aligns with India's growing housing demand and contributes toward its estimated USD 1.4 trillion green buildings opportunity by 2030, with a strong focus on the residential sector.Read more