08 Aug 2025

Kalpataru Projects International recorded a nearly three-fold rise in its consolidated net profit for the quarter ending June 2025, driven by a significant increase in revenues. The company posted a net profit of INR 213.59 crore, up from INR 83.95 crore during the same quarter last year. Total income also jumped to INR 6,187.52 crore from INR 4,608.5 crore year-on-year. In addition, the board approved an extension of the validity for a corporate guarantee in favour of its 65% subsidiary, Kalpataru IBN Omairah Company Ltd, not exceeding USD 65 million, up to mid-2026.Read more

08 Aug 2025

JSW Cement raised INR 1,080 crore from 52 anchor investors by allotting 7.34 crore shares at the upper end of the price band before its IPO opened. The INR 3,600 crore issue includes a fresh issue of INR 1,600 crore and an offer for sale of INR 2,000 crore. The company plans to use the proceeds for its new Rajasthan plant and to reduce debt. Despite posting a loss in the last fiscal year, the IPO has drawn strong institutional interest, supported by JSW Cement's expansion and sustainability focus.Read more

08 Aug 2025

The Pimpri Chinchwad Municipal Corporation (PCMC) has approved a significant 50% waiver on the general tax component of property tax bills for residents and industrial units located in designated 'red zones.' This decision, set to take effect from the financial year 2026-2027, is a compensatory measure for the civic body's inability to provide adequate facilities and services to these areas. The waiver applies to over 43,000 properties but has faced criticism from housing societies who argue it may encourage unauthorized construction.Read more

08 Aug 2025

Raymond Realty has reported a solid financial performance for the first quarter of fiscal year 2025-26, posting a standalone net profit of INR 26.93 crore. The company, which recently de-merged from the Raymond Group and got listed on the stock exchanges, saw total income reach INR 334.34 crore. With a robust land bank and a net-debt-free status, the company is focusing on an asset-light expansion model through joint development agreements (JDAs) and plans to launch several new projects in the coming months.Read more

08 Aug 2025

DLF reported a 19% year-on-year increase in consolidated net profit for the June quarter of FY26, reaching INR 766 crore. New sales bookings surged 78% to INR 11,425 crore, primarily driven by high demand for the company's luxury project, DLF Privana North in Gurugram. Consolidated revenue rose to INR 2,981 crore, and the net cash balance improved to INR 7,980 crore. The company's commercial arm also recorded stable occupancy and a double-digit profit growth. DLF had ended the previous fiscal with record earnings and robust sales, indicating a sustained momentum in the premium housing segment.Read more

07 Aug 2025

Highway Infrastructure Ltd's initial public offering witnessed a massive response from investors, being subscribed nearly 73 times within the first two days of bidding. The IPO, valued at INR 130 crore, drew strong interest across all investor categories, especially from non-institutional and retail investors. The offering consists of a fresh issue and an offer for sale, and includes participation from anchor investors like HDFC Bank and Abans Finance. Highway Infrastructure, known for tollway collection, EPC projects, and real estate development, will list its shares on both BSE and NSE.Read more

07 Aug 2025

The National Bank for Financing Infrastructure and Development (NaBFID) is preparing to launch a credit enhancement facility by September to strengthen infrastructure bonds' appeal among long-term institutional investors like insurance and pension funds. The initiative, first announced in the interim Budget and reinforced in the full Budget, aims to improve bond ratings, making them more investible. With an initial outlay of INR 10,000 crore, the facility is expected to address the funding gap in infrastructure by attracting capital from investors bound by strict credit-rating mandates.Read more

07 Aug 2025

Keystone Realtors, also known as the Rustomjee Group, reported its highest-ever quarterly pre-sales of INR1,068 crore in the first quarter of the fiscal year 2025-26 (Q1 FY26), marking a 75% year-on-year increase. This achievement came despite a 44% decline in consolidated net profit, which fell to INR14.51 crore. The company attributed the drop in profit to a change in accounting methods for revenue recognition and stated that it is shifting to the percentage of completion method for new projects. With a strong project pipeline and zero net debt, the company remains confident in its future growth.Read more

07 Aug 2025

Nagpur Municipal Corporation (NMC) has recovered only a small fraction of its total property tax dues of INR 938.7 crore for FY 2024-25. While over 4.6 lakh properties are in default, just 106 were auctioned. Recovery through warrants, attachments, and notices also remained limited. Officials pointed to slow enforcement and low compliance. Even with partial collections, NMC has fallen short of the financial demands required to maintain civic services.Read more

07 Aug 2025

The Lucknow Development Authority moved proposals to increase development charges and special amenity fees for properties within a 500 metre radius of major expressways like Shaheed-Path, Kisan-Path and the Green Corridor. Funds from these hikes will be earmarked for infrastructure and civic upgrades. Additional plans include new housing schemes, land-use conversions, land allocations for e-auto charging stations and a PPP bus terminal, and digitisation and financial borrowing proposals. All key ongoing housing and expansion projects, including those at Anantnagar, IT City and Kamdhenu Nagar, feature in the agenda.Read more