05 Jun 2025

The Indore Development Authority (IDA) will auction 600 flats, 40 shops, and 24 plots, targeting INR 261 crore in revenue, as part of a strategy to fund urban development. The decision, finalised at a recent board meeting led by senior city officials, also advanced several critical infrastructure projects. Approved works include feasibility studies for an elevated corridor from Malwa Mill Square to Rasoma Square, and flyovers at Rasoma Square and Robot Square. Additionally, INR 16.98 crore was allocated to upgrade sewage treatment at Scheme No. 166. Land allotments were made to the Food Corporation of India and the Agricultural Produce Market Committee. The board also approved INR 90 crore for projects like a bridge over the Kanh River and a 34-lakh litre water tank. IDA's combined focus on asset monetisation and infrastructure upgrades aims to support Indore's sustainable urban growth.Read more

05 Jun 2025

Contract manufacturing firm Aequs, known for producing aerospace components and consumer durable goods, has initiated the process for an initial public offering (IPO) aiming to raise around USD 200 million. The firm has chosen the confidential pre-filing route to submit its Draft Red Herring Prospectus (DRHP) to SEBI and the stock exchanges. The IPO will consist of a fresh issue and an Offer for Sale (OFS). The company, which operates manufacturing hubs across India, France, and the USA, has attracted investment from major players like Amicus Capital and Catamaran. Kotak Mahindra Capital, JM Financial, and IIFL Capital are leading the offering.Read more

05 Jun 2025

Emerging diversified construction companies in India are expected to post 9-11% revenue growth this fiscal, according to a recent Crisil report. The sector recorded a 15% CAGR over the past five years, supported by strong order books and timely project execution. However, operating margins are likely to remain constrained at 10-11% due to limited ability to absorb commodity price fluctuations and rising competition. While working capital needs have increased, firms are meeting these requirements through internal cash flows, keeping reliance on bank borrowings low. Capital expenditure for large order execution will involve debt, but robust cash flows should help maintain healthy leverage. Crisil's analysis of 200 firms-contributing INR 1 lakh crore to India's infrastructure spend-highlights steady growth underpinned by government-led infrastructure investments and diversified order books. Profitability, however, will face pressures amid stable subcontracting costs and competitive market dynamics.Read more

04 Jun 2025

India is poised to remain the fastest-growing major economy in FY 2025-26, with projected GDP growth of 6.5%, according to the Reserve Bank of India's (RBI) annual report. The country's GDP is expected to reach USD 4.18 trillion, nearing Japan's economic size. Growth will be driven by robust domestic consumption, rising capital expenditure, and government fiscal support. Strong macroeconomic fundamentals, a resilient financial sector, favourable monsoon forecasts, and low retail inflation (3.16% in April) are expected to boost consumer spending and investment. The RBI also anticipates potential monetary easing to further stimulate growth. Recent income tax relief and increased infrastructure and real estate investment will further support expansion. The report stresses the need for continued policy coordination, structural reforms, and infrastructure development to sustain India's growth momentum, positioning the nation as a key driver of global economic growth.Read more

04 Jun 2025

NBCC India Ltd. posted a robust 29.1% increase in its consolidated net profit for the fourth quarter of the fiscal year 2024-25, reaching INR 182.66 crore compared to INR 141.49 crore in the same quarter last year. The company's total income rose by over 16%, driven by the successful execution of key infrastructure projects. Demonstrating its growth ambitions, NBCC has recently incorporated a wholly owned subsidiary in Dubai to explore real estate opportunities overseas. Additionally, the company has submitted a resolution plan for Celebration City Projects, which could become its subsidiary, expanding its footprint further in the real estate sector.Read more

04 Jun 2025

The Karnataka government will soon implement property tax on unauthorised rural properties under the Karnataka Gram Swaraj and Panchayat Raj (Amendment) Bill, 2025. Detailed guidelines are expected by mid-July. The move aims to bring nearly 95 lakh rural properties under formal governance and taxation. Over 50 lakh rural properties already have e-khatas, generating INR 1,273 crore in revenue this fiscal year. Minister Priyank Kharge highlighted that the initiative will boost local revenues and improve services like water, sanitation, and roads. Inspired by the success of Karnataka's B-Khata system in urban areas, the rural framework seeks to regularise informal landholdings and strengthen Panchayat finances. The upcoming guidelines will outline tax assessment, exemptions, and regularisation processes. This initiative supports Karnataka's broader push for decentralised, equitable development and aims to enhance infrastructure and civic services across rural regions.Read more

03 Jun 2025

MedSpark Medical Devices Park, located within Kerala's Life Science Park at Thonnakkal, represents a major stride in India's pursuit of self-reliance in the medical device sector. A joint venture between SCTIMST and KSIDC, this initiative targets the high-risk medical device market, including implants and extracorporeal devices. With an investment of INR 230 crore, partly funded by the state and central governments, MedSpark offers a cutting-edge ecosystem supporting R&D, testing, manufacturing, and incubation. Building on Kerala's existing medical device landscape, the park is projected to create over 1,200 direct and up to 5,000 indirect jobs, bolstering innovation and affordability in healthcare nationwide.Read more

03 Jun 2025

As of March 31, 2025, NDR InvIT Trust, India's first perpetual warehousing and industrial park InvIT, reported a 13.32% rise in assets under management (AUM), reaching 19.22 million sq. ft. The Trust expanded its footprint from 13 to 15 cities, now operating 37 industrial parks and over 60 warehouses nationwide. About 33% of rental income comes from its top 10 clients, with just 11.26% of leases up for renewal in H2 FY26, ensuring stable revenues. FY25 revenue stood at INR 3,241.10 million, with Q4 revenue at INR 945.38 million. The NAV per unit was INR 135.52. A Q4 distribution of INR 1.80 per unit was declared, with a record date on or before June 4, 2025. CFO Sandeep Jain highlighted FY25's portfolio growth, strong occupancy, and investor returns. The Trust remains focused on strategic acquisitions and sustainable expansion in India's logistics sector.Read more

03 Jun 2025

RDB Infrastructure and Power Ltd has reported a turnaround in its financial performance for the March quarter, registering a net profit of INR 1.15 crore. This recovery comes on the back of a disciplined cost-control strategy, reversing the loss of INR 8.69 lakh reported in the fourth quarter of FY24. Although the company's revenue declined to INR 21.82 crore from INR 36.84 crore in the corresponding quarter of the previous fiscal, the drop in expenses to INR 20.13 crore from INR 36.91 crore significantly contributed to the bottom-line improvement. The results reflect the company's focus on maintaining operational efficiency amid challenging market conditions.Read more

03 Jun 2025

The Brihanmumbai Municipal Corporation (BMC) rcently confirmed that property tax rates have not increased; the rise in tax bills stems from updated ready reckoner (RR) rates for FY 2025-26. RR rates, revised for the first time in a decade, set minimum property values for taxation. An average 15.89% uptick in tax bills is also due to a statutory capital value revision under Section 154(1)(c) of the Mumbai Municipal Corporation Act-last updated in 2015, with the 2020 revision delayed due to COVID-19. The BMC also announced a temporary suspension of solid waste management fees after intervention by Maharashtra's Chief Minister and Deputy CM. Residential units under 500 sq. ft. remain exempt from property tax. As civic elections approach, property tax policies and enforcement could become a key issue, with public focus on fairness and accountability in Mumbai's civic administration.Read more