12 May 2025

Star Housing Finance Limited (Star HFL), a BSE-listed home finance company specialising in low-cost retail housing finance, has reported notable financial growth for the fiscal year ending March 31, 2025. The company recorded a 54% increase in revenue, reaching INR 94.96 crores, and a 25% rise in profit after tax (PAT), amounting to INR 11.10 crores. Star HFL's assets under management (AUM) surged by 22% to INR 520.70 crores, driven by increased demand for affordable home loans. The company disbursed housing finance worth INR 148.60 crores to over 1,250 homebuyers across its operational geographies, while also executing its first direct assignment valued at INR 55.83 crores.Read more

12 May 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) reached a major milestone in April 2025 when it collected INR 1,417 crore in property taxes, which accounted for almost 25% of its ambitious annual target of INR 5,716 crore. This marks a substantial increase from the previous year's collection of INR 670 crore in the same month. The BBMP attributes this surge to the integration of solid waste management charges with property tax payments and the extension of a 5% rebate on early payments until May 31, 2025. Despite the positive trend, approximately 3.75 lakh property owners still owe INR 836 crore in unpaid taxes, prompting the BBMP to plan stringent recovery measures post-May 31.Read more

09 May 2025

Ajay Poly, Laxmi India Finance, and Veritas Finance were among the five businesses that received regulatory approval from SEBI earlier this week to raise money through initial public offerings (IPOs). Additionally, Rajasthan-based Jajoo Rashmi Refractories and Kolkata-based Regaal Resources received the green light to float IPOs. Veritas Finance aims to raise INR 2,800 crore, comprising a fresh issue worth INR 600 crore and an Offer-for-Sale (OFS) of INR 2,200 crore by key investors. Laxmi India Finance, Ajay Poly, Regaal Resources, and Jajoo Rashmi Refractories have outlined specific plans for fund utilisation, ranging from debt repayment to expanding manufacturing capacities. Meanwhile, Earthood Services withdrew its draft IPO documents.Read more

09 May 2025

Aadhar Housing Finance reported a 21 per cent increase in its net profit for the fourth quarter of the financial year 2024-25, amounting to INR 245 crore. The housing finance company's profit for the corresponding quarter in the previous year stood at INR 202 crore. Total income for the quarter rose to INR 834 crore from INR 692 crore in the same period last year, driven by a significant surge in interest income, which climbed to INR 722 crore from INR 596 crore. Asset Under Management (AUM) also grew by 21 per cent, reaching INR 25,531 crore. Meanwhile, the board has appointed Raj Vikash Verma, former chairman and managing director of National Housing Bank, as an independent director.Read more

09 May 2025

Nexus Select Trust recently announced it has successfully acquired a commercial complex in Ludhiana that included a 96-key Radisson Hotel and a shopping mall. The transaction, valued at an enterprise amount of INR 531 crore, includes a purchase consideration of INR 490 crore, associated stamp duty of INR 10 crore, and provisions for capital expenditure, such as hotel renovations and mall upgrades. The MBD Complex, a Grade-A urban consumption centre, spans approximately 0.3 million square feet with a current occupancy rate of 95 per cent. Nexus Select Trust, India's first publicly listed retail REIT, continues to expand its diversified portfolio, which now includes 19 shopping malls, three hotel assets, and three office assets.Read more

09 May 2025

During January-March 2025, housing prices in MMR, Delhi-NCR, Chennai, and Pune remained stable compared to the previous quarter, according to PropTiger. In contrast, Bengaluru and Hyderabad saw a 5% price rise, while Ahmedabad and Kolkata recorded 4% increases. Despite continued year-on-year growth, the pace has slowed, signaling a more balanced market. PropTiger CEO Dhruv Agarwala noted that this stability may encourage end-users while maintaining investor interest. Average prices per sq ft stood at INR 12,600 in MMR, INR 8,106 in Delhi-NCR, INR 7,173 in Chennai, and INR 7,109 in Pune. As 2025 nears, the market is expected to consolidate, supported by strong structural fundamentals.Read more

09 May 2025

HUDCO reported a 4% rise in consolidated net profit to INR 727.74 crore for the March quarter of FY25, up from INR 700.16 crore in the same period last year, driven by higher income. Quarterly income rose to INR 2,854.91 crore from INR 2,194.04 crore. For the full fiscal year, net profit increased to INR 2,709.14 crore, while total income grew to INR 10,348.38 crore. HUDCO also plans to raise INR 2,190 crore via unsecured, taxable NCDs at a 6.9% annual coupon rate, maturing in five years. The move aims to strengthen its ability to finance housing and infrastructure projects nationwide.Read more

09 May 2025

Flipspaces, a startup offering design and building solutions for commercial spaces, has secured USD 35 million (approximately INR 297 crore) from investors to drive its growth strategy. The funding round was led by tech growth investor Iron Pillar and included participation from existing investor Prudent Investment Managers and new entrant Synergy Capital. The capital will be utilised to bolster Flipspaces' presence in India, the US, and UAE, enhance its technology capabilities, and pursue inorganic growth in new markets and related sectors. The company has delivered over 8 million square feet of commercial space for more than 1,000 brands and achieved a CAGR of 65 per cent over the last four years.Read more

08 May 2025

Bank of Baroda has lowered its home loan interest rates to 8% per annum from the earlier 8.40%, as announced earlier this week. The revised rate applies to loans beginning at INR 15 lakh, with additional benefits such as a 0.05% concession for women and a 0.10% concession for borrowers under 40. This move comes as part of BoB's strategic push to expand its retail loan book and offer more competitive terms amid a stable monetary climate. The rate cut may trigger similar moves from other lenders, enhancing affordability in the housing sector.Read more

08 May 2025

Significant increases in profit, income, and net operating income were among the impressive financial results reported by Embassy Office Parks REIT for the fourth quarter of FY2024. The REIT's leasing activity outperformed expectations, securing 8.1 million square feet of leases, with over 65% of them from multinational corporations. The company has declared substantial distributions to unitholders and provided an optimistic outlook for FY2025, including plans for acquisitions and continued market growth.Read more