08 May 2025

The Indian Hotels Company Limited (IHCL), part of the Tata Group, has seen a 25% year-on-year increase in its consolidated net profit for the fourth quarter of FY25, reaching INR 522 crore. This growth was attributed to strong demand, new hotel signings, and strong performance across its hospitality and catering businesses. Revenue for the quarter increased by 27%, amounting to INR 2,425 crore. For the entire fiscal year, IHCL's consolidated net profit surged 52%, with total income rising by 23%. Despite a sequential dip in the final quarter, analysts remain optimistic about the company's performance.Read more

08 May 2025

India's housing finance sector is poised for a significant transformation as the National Housing Bank (NHB) anticipates Residential Mortgage-Backed Securities (RMBS) firms to raise between INR 10,000 crore and INR 12,000 crore in the upcoming fiscal year. This development follows the country's inaugural listing of RMBS on the National Stock Exchange, a move facilitated by the NHB-promoted RMBS Development Company Limited (RDCL). The successful issuance by LIC Housing Finance, amounting to INR 1,000 crore with a 20-year maturity and a 7.26% monthly coupon, has set a precedent for other housing finance companies.Read more

08 May 2025

The Nagpur Municipal Corporation (NMC) is grappling with a significant financial shortfall, as property tax arrears have escalated to INR 938 crore by the end of the 2024-25 fiscal year. Despite collecting approximately INR 318 crore, the civic body faces a compliance gap, with over 67% of property owners defaulting. Zones like Ashi Nagar, Mangalwari, and Laxmi Nagar are the most affected, collectively accounting for nearly half of the total dues. In response, NMC has initiated an amnesty scheme offering an 80% waiver on penalties and is intensifying recovery efforts, including property seizures and legal actions.Read more

07 May 2025

In April 2025, Mumbai's real estate market recorded 12,142 property transactions-a 4% annual increase and the highest April figure in 13 years. Despite a 6% drop in stamp duty revenue, residential demand remained dominant, comprising 80% of transactions. Premium properties gained traction, with deals above INR 2 crore rising to 25% of total sales. While compact homes led in volume, demand for larger apartments also showed resilience. Central and South Mumbai witnessed a slight increase in market share, reflecting renewed interest. This robust performance signals enduring end-user confidence, supported by stable interest rates and expanding infrastructure across the city.Read more

07 May 2025

The net operating income (NOI) of Brookfield India Real Estate Trust increased by a significant 16% year over year to INR 488.5 crore for the quarter that ended in March. It also declared a distribution of INR 319 crore to unitholders, marking a 10.5% increase from the previous quarter. For the full 2024-25 fiscal year, NOI climbed 37% to INR 1,854 crore, with total distributions rising to INR 1,053.7 crore. The REIT also recorded strong leasing activity of nearly 3 million square feet, reflecting demand recovery, especially across its SEZ assets. Its CEO noted sustained investor confidence, highlighting a capital raise of INR 4,700 crore and plans for future growth.Read more

07 May 2025

Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India to acquire a 51% stake in Yes Bank, marking a major step in its India expansion plan. The phased deal involves an initial 20% stake for USD 1.5 billion, followed by a potential increase to majority ownership. This rare regulatory clearance comes amid India's traditionally cautious stance on foreign ownership in domestic banks. Yes Bank, once a top private lender, has been recovering from past governance and asset quality issues. SMBC's majority stake could lead to significant changes in the bank's governance and strategy, potentially reshaping its future in India's banking landscape.Read more

06 May 2025

Saran district in Bihar set a new record by collecting over INR 210 crore in land registration revenue during FY 2024-25-an increase of INR 37 crore from the previous year. The rise is attributed to a surge in real estate transactions and streamlined administrative procedures, including the introduction of online registration services. The Sadar office in Chhapra led collections with INR 100.12 crore, while other sub-registrar offices also saw strong growth. Registered deeds rose to 55,034 from 46,791 the previous year, reflecting improved transparency and public confidence. Saran's success offers a model for boosting revenue and efficiency across the state.Read more

06 May 2025

Mumbai-based Sunteck Realty posted a 50.28% decline in its Q4 FY25 consolidated net profit at INR 50.38 crore due to lower revenue and rising expenses. However, the developer reported a strong full-year performance, with FY25 net profit more than doubling to INR 150.32 crore and revenue rising 51% to INR 853.13 crore. Annual pre-sales hit a record INR 2,531 crore, up 32% year-on-year. The board has proposed a INR 1.50 per share dividend and approved a plan to raise INR 2,250 crore via debt and equity. The company continues to focus on luxury residential projects across the Mumbai Metropolitan Region to drive long-term growth.Read more

06 May 2025

SEBI has proposed regulatory changes for REITs and InvITs aimed at simplifying compliance and improving investor transparency. Key suggestions include aligning valuation report deadlines with financial reporting cycles, redefining 'public' unitholders to include related QIBs, and allowing holding companies to offset negative cash flows using SPV distributions for calculating Net Distributable Cash Flow. SEBI also plans to introduce a standard Investor Charter outlining unitholder rights and responsibilities. Public comments are invited until May 22, 2025. The reforms aim to enhance ease of doing business and attract more investment into India's real estate and infrastructure sectors.Read more

06 May 2025

Macrotech Developers (Lodha) has set an ambitious INR 21,000 crore pre-sales target for FY26, a 19% rise over the previous year. The firm plans to launch 18.8 million sq ft of projects, up 37% from FY25. It reported INR 4,810 crore in Q4 pre-sales and INR 17,520 crore for FY25, exceeding its guidance. Backed by strong collections and INR 2,320 crore in Q4 operating cash flow, Lodha reduced net debt to INR 3,990 crore. The developer is also expanding into logistics with new land deals in Navi Mumbai and Palava. Analysts remain bullish, citing growth visibility, efficient cash flow, and prudent debt management.Read more