10 Oct 2025

IRB InvIT Fund has completed the acquisition of three tollway special purpose vehicles (SPVs) IRB Hapur Moradabad Tollway Ltd (IHMTL), Kaithal Tollway Ltd (KTL), and Kishangarh Gulabpura Tollway Ltd (KGTL) from IRB Infrastructure Trust. The equity deal, valued at INR 4,905 crore, adds assets with a combined enterprise value of INR 8,436 crore. Collectively, these assets reported a turnover of INR 469.31 crore in FY25. The acquisition is set to diversify the fund's portfolio, enhance long-term revenue stability, and extend the weighted average life of its assets.Read more

09 Oct 2025

Japanese firms Daikin and Kubota are set to make major investments in Haryana, aimed at enhancing the state's industrial and technological landscape. Daikin will invest INR 1,000 crore to establish a research and development centre focusing on advanced technologies and sustainable industrial solutions. Kubota, in partnership with Escorts, plans to invest INR 2,000 crore to expand agricultural equipment manufacturing. These initiatives are expected to create employment opportunities, attract global business collaborations, and position Haryana as a hub for innovation, research, and modern industrial practices.Read more

09 Oct 2025

Prestige Estates Projects Ltd has reported a substantial rise in sales bookings during the second quarter of the fiscal year, driven by strong housing demand across multiple cities. The company recorded a 50% increase in bookings to INR 6,017.3 crore, with sales volume rising to 4.42 million sq ft. For the first half of the fiscal, Prestige achieved record sales of INR 18,143.7 crore, surpassing its FY25 full-year performance. Growth in apartment and plot realisations, coupled with robust demand in Bengaluru, NCR, and Mumbai, has contributed to the exceptional performance.Read more

09 Oct 2025

The Nagpur Municipal Corporation (NMC) has intensified efforts to recover property tax dues by conducting auctions and attaching assets in multiple zones. In Lakadganj, 19 properties were targeted, with owners of five properties paying INR 10.45 lakh, while five others were auctioned for INR 1.66 crore. In Laxmi Nagar, assets of M/s Premier Technology Pvt Ltd were attached for unpaid taxes totaling INR 13.54 lakh. NMC officials have warned defaulters of strict legal actions under the Maharashtra Municipal Corporation Act if dues remain unsettled.Read more

09 Oct 2025

Auro Realty, the real estate arm of Aurobindo Group, is planning to raise INR 20 billion (USD 225.41 million) through bonds to finance key acquisitions, including Hotel Taj Banjara in Hyderabad. The company is offering two-year and four-year bonds with coupon rates ranging from 11% to 15%. The bond issue is in advanced stages and could be completed this month, with private credit funds expected to participate. This move reflects the increasing use of corporate bonds by Indian firms to fund large-scale acquisitions efficiently.Read more

09 Oct 2025

IndusInd International Holdings Ltd (IIHL), the Mauritius-based promoter of IndusInd Bank, has completed its acquisition of the remaining 49% stake in Sterling Bank, Bahamas, gaining full ownership. The bank will now operate as IIHL Bank & Trust Limited. With a net worth of USD 1.26 billion, IIHL has investments across the Banking, Financial Services, Securities, and Insurance sectors. The move supports its vision to become a global BFSI leader by leveraging digital technologies and cross-border financial products. IIHL's expansion also includes acquiring Reliance Capital and its subsidiaries, along with a 60% stake in Invesco Asset Management India, managing USD 14.5 billion in assets.Read more

08 Oct 2025

Public sector banks have approved more than 5.79 lakh loan applications amounting to INR 10,907 crore under the PM Surya Ghar Muft Bijli scheme, supporting households in installing rooftop solar systems. The scheme offers collateral-free, affordable credit with simplified processes via the JanSamarth digital portal. The Department of Financial Services, in coordination with the Ministry of New & Renewable Energy, is closely reviewing loan disbursement and working with bankers' committees and district managers to boost outreach and adoption.Read more

08 Oct 2025

Keystone Realtors posted sales bookings of INR 763 crore in the second quarter of the fiscal, marking a 9 per cent increase from INR 700 crore in the same period last year. The company's half-year bookings surged 40 per cent to INR 1,831 crore, up from INR 1,311 crore a year earlier. The growth reflects strong demand for residential properties under its Rustomjee brand. As one of India's leading real estate developers, Keystone's performance indicates stability and buyer confidence in the housing market.Read more

08 Oct 2025

IRB Infrastructure recorded an 11 per cent increase in toll revenue for September 2025, reaching INR 557 crore from INR 502 crore a year ago. The MP Expressway in Maharashtra contributed the most, followed by Hyderabad's Golconda Expressway and the Ahmedabad-Vadodara Super Express Tollway. Newly added Lalitpur-Lakhnadon NH44 also showed revenue growth. Despite monsoon-related traffic challenges and temporary GST-related slowdowns, IRB maintained strong performance. The upcoming festive season is expected to further support toll revenue, reflecting the company's operational resilience and the steady performance of its integrated highway network.Read more

08 Oct 2025

The Asian Development Bank (ADB) has approved a USD 190 million loan to support the Indore Metro Rail Project, which aims to improve urban mobility, reduce emissions, and promote inclusive growth in Madhya Pradesh. The funds will finance an 8.62 km underground corridor with seven stations, connecting dense city zones to the airport. Designed with universal accessibility, the metro will include ramps, lifts, CCTV, and emergency systems. Expected to cut 12,414 tons of CO2 emissions annually, it will integrate with city buses and feeder networks for seamless connectivity. Implemented by MPMRCL and operational by January 2030, the project also advances transit-oriented development and gender-inclusive participation in transport planning.Read more