11 minutes ago

National Australia Bank shares fell more than 5% after the lender forecast a sharp slowdown in housing credit growth, citing weaker homebuyer activity following recent tax changes. NAB reported third-quarter cash earnings of AUD 1.83 billion, while Australian home loan applications declined 15% from the previous quarter. The bank expects investor credit growth to move from more than 8% last year to a 1.4% contraction in its 2027 financial year, while total housing credit growth is forecast to slow from around 7.5% to 2.5%. NAB also warned of pressure on property prices in Sydney and Melbourne.Read more

41 minutes ago

The Enforcement Directorate (ED) has provisionally attached immovable properties valued at INR 129.80 crore in an alleged real estate fraud involving homebuyers and investors in Ahmedabad. The action was taken by the agency’s Ahmedabad Zonal Office under Section 5(1) of the Prevention of Money Laundering Act, 2002, through an order dated August 14. The case involves Ronak Ravjibhai Sonani, Vipulbhai Gordhanbhai Gangani, Keshav Narayan Group and others. The investigation followed five FIRs registered in Ahmedabad and relates to alleged schemes that offered flats and shops at pre-launch prices and promised returns of 54–100 per cent. The ED has alleged that the projects lacked mandatory RERA registration and non-agricultural permissions, while buyers were allegedly not given the promised properties or refunds.Read more

56 minutes ago

Five associations representing Unitech Ltd homebuyers have urged the government and Supreme Court to expedite the appointment of a new chairman and managing director and allow monetisation of the developer’s unsold assets to fund stalled housing and commercial projects. The CMD position has remained vacant since Yudhvir Singh Malik’s tenure ended on 20 July 2026. Unitech’s projects, primarily in Delhi-NCR, have faced delays of more than 15 years, leaving around 15,000 customers awaiting delivery. Buyers estimate that INR 11,000–12,000 crore is required to complete the stalled developments, while around INR 3,000 crore could be contributed by customers. The associations have made separate demands concerning lenders’ claims, an audit of loans and priority for homebuyers in the resolution process.Read more

1 hour ago

Saatvik Solar Industries has signed an initial agreement with the Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL) to establish a 3.6 GW solar cell manufacturing facility at Gopalpur, Odisha. The proposed plant will form part of the company’s broader manufacturing development in the state and is expected to generate employment while supporting the surrounding industrial ecosystem. Saatvik is already advancing its Phase I integrated manufacturing facility at Gopalpur, where construction and equipment installation have reached key milestones. The company said the dedicated 220 kV substation is ready for charging, while manufacturing lines are undergoing installation, testing and validation. Its cell manufacturing line is expected to begin ramp-up shortly, with an ALMM-II inspection planned for September. The phased development is intended to build an integrated solar manufacturing base focused on scale, quality and supply-chain resilience.Read more

1 hour ago

Max Estates Ltd reported a 30% year-on-year decline in consolidated net profit to INR 8.35 crore for the quarter ended June, compared with INR 11.93 crore in the corresponding period of the previous financial year. The company's total income remained broadly unchanged at INR 80.07 crore during the first quarter of the current fiscal year, against INR 80.12 crore a year earlier, according to a regulatory filing. Established in 2016, Max Estates is the real estate arm of Max Group and has residential and commercial projects across Delhi-NCR. The company also operates Max Asset Services, a real estate services and management business. Its operations are focused on property development and related services within the Delhi-NCR market.Read more

1 hour ago

President Droupadi Murmu said India’s economy continues to remain resilient despite global warfare and instability, with growth projected to be more than twice the global average. In her address to the nation on the eve of Independence Day, she highlighted the role of self-reliance, digital infrastructure, renewable energy and physical connectivity in strengthening the country’s economic base. She also pointed to India’s progress on Sustainable Development Goals and the rapid expansion of highways, waterways, railways and airways. According to her, these developments are creating business opportunities, supporting employment and improving investor confidence.Read more

2 hours ago

India's biggest cities are increasingly developing smaller economic ecosystems within their boundaries. These districts are no longer just office clusters surrounded by residential neighbourhoods; they are evolving into self-contained destinations with workplaces, hotels, restaurants, retail, housing, healthcare and entertainment. Bandra-Kurla Complex in Mumbai has become a major financial hub, while GIFT City is building an international financial ecosystem almost from scratch. Similar transformations are underway in Hyderabad, Bengaluru, Gurugram, Kolkata and Pune. Together, these districts show how India's urban growth is moving from a single city centre towards multiple specialised economic centres.Read more

2 hours ago

Asking prices for newly listed homes in Britain recorded their sharpest August decline since 2018, with the average price falling 2.0% over the four weeks to August 8, according to Rightmove. The fall was larger than the typical 1.3% August decline seen over the past decade. Prices were also 1.0% lower than a year earlier, marking the biggest annual decline since December 2023. A large supply of homes, seasonal weakness and higher mortgage rates are putting pressure on sellers. Buyer demand has improved modestly, but remains below last year’s level.Read more

2 hours ago

Navi Mumbai International Airport (NMIA) has received its first international freighter, marking another step in the expansion of its cargo operations. The Hong Kong Air Cargo-operated Airbus A330-200F arrived from Hong Kong carrying around 60 tonnes of import and export shipments. The carrier will operate three weekly services, resulting in six weekly cargo air traffic movements between the two cities. NMIA is also preparing for 13 additional freighter services connecting it with major markets across Asia, Europe and West Asia. The expansion comes as cargo operations at Mumbai airport face a planned suspension of dedicated freighter flights.Read more

3 hours ago

WeWork Global has sold a 2.52% stake in flexible workspace operator WeWork India Management for INR 244.14 crore through open-market transactions, reducing its holding in the Indian company to 12.3% from 14.82%. The sale involved 35 lakh equity shares transferred in five tranches by its affiliate 1 Ariel Way Tenant Ltd at an average price of INR 697.55 per share. Despite the reduction, WeWork Global remains the largest public shareholder. The transaction comes as WeWork India reported a consolidated net loss of INR 4.30 crore for the April-June quarter, although total income increased to INR 700.74 crore. The Indian business, majority-owned by Embassy Group, began in 2017 as a joint venture between WeWork Global and Embassy Group and remains the exclusive licensee of the WeWork brand in India.Read more

3 hours ago

Larsen & Toubro (L&T) has secured an ultra-mega order in the Middle East for the development of multiple offshore facilities, expanding the infrastructure major’s portfolio of large-scale energy projects in the region. L&T Energy Hydrocarbon Offshore (LTEH Offshore) will execute the engineering, procurement, construction, installation and commissioning (EPCIC) work for the facilities. L&T classifies orders valued above INR 15,000 crore as ultra-mega. The company said the award reinforces LTEH Offshore’s presence in the Middle East and reflects customer confidence in its ability to execute complex offshore developments. The business has integrated engineering, project management, procurement, fabrication and installation capabilities, supported by an offshore vessel fleet. Over four decades, it has delivered fixed platforms, subsea pipelines, brownfield modifications, deepwater structures and pipelines, and decommissioning projects across global markets.Read more

4 hours ago

A landslide at a construction site in Nandan County in southwestern China’s Guangxi region killed at least one person and left four others trapped, according to local authorities. The incident occurred shortly before noon as several parts of the country continued to face heavy rainfall and heightened geological disaster risks. China has experienced a series of deadly floods and landslides this summer. Authorities in Sichuan and Shaanxi had also issued warnings over heavy rain and increased risks of floods and landslides, while Typhoon Dolphin brought extreme rainfall to several regions during the past week.Read more

4 hours ago

As many as 396 infrastructure projects across sectors such as roads and railways, with a combined estimated cost of INR 18.66 lakh crore, have been evaluated through the Network Planning Group under the PM GatiShakti initiative. Of these, 256 projects have received sanction, while 198 are currently under implementation. The initiative is aimed at improving coordination between infrastructure ministries and creating integrated multimodal connectivity to lower logistics costs. The government’s latest logistics assessment also indicates that logistics expenditure has fallen to 7.97% of GDP in 2023-24, showing the broader impact of infrastructure and policy measures.Read more

5 hours ago

Cochin Shipyard reported a 19.36% year-on-year decline in consolidated net profit for the June quarter, with profit falling to INR 151.45 crore from INR 187.82 crore in the corresponding quarter last year. The decline came even as total income increased to INR 1,161.25 crore. Higher expenses also affected profitability. Segment-wise, shipbuilding revenue increased sharply, while ship-repair revenue declined, resulting in a mixed quarterly performance. The state-owned company continues to operate across shipbuilding and ship-repair activities, with facilities in Kochi and other parts of the country.Read more

5 hours ago

Delhi’s Indira Gandhi International Airport (IGIA) is planning to increase its annual passenger handling capacity from 106 million currently to 125 million under a proposed 10-year master plan extending to 2036. Delhi International Airport Ltd (DIAL) plans to raise capacity to 116 million by April 2030 and subsequently to 125 million by 2032. The expansion includes a proposed Pier E at Terminal 3 (T3), with capacity for 10 million passengers, targeted for completion by April 2030. Decisions on a fourth terminal and an Automated People Mover remain pending, although the master plan is expected to earmark a 7.5-kilometre right of way for an APM system. The airport handled 6 million passengers in July, while traffic during FY2026-27 up to July stood at 26.4 million.Read more

Mumbai News Desk

6 hours ago

The Brihanmumbai Municipal Corporation’s Improvement Committee has approved the lease of about 15 acres of reclaimed land at the former Mulund dumping ground to Navbharat Mega Developers Pvt Ltd, the special purpose vehicle implementing the Dharavi Redevelopment Project. The five-year lease will allow the company to establish a casting yard, precast element manufacturing facility and ready-mix concrete plant for the redevelopment works. The proposal had earlier faced objections over environmental and civic concerns, but was cleared by the panel on August 14 following further consideration. The BMC is expected to receive about INR 103.47 crore in gross rent.Read more

6 hours ago

Finance Minister Nirmala Sitharaman said the government will soon constitute a high-level committee on Banking for Viksit Bharat to prepare a roadmap for the banking sector to support India’s development goals. The panel was proposed in the Union Budget to comprehensively review the sector while maintaining financial stability, inclusion and consumer protection. The announcement came during the two-day PSB Confluence, where public sector banks and financial institutions discussed deposit mobilisation, youth banking, investment financing, global capability centres, agriculture infrastructure, credit cards and priority sector lending.Read more

Mumbai News Desk

7 hours ago

The Brihanmumbai Municipal Corporation’s Improvement Committee has approved a 30-year lease of about 25,543 sq m of its Century Mills land in Lower Parel to Peddar Realty Ltd for redevelopment at a consideration of INR 1,321 crore. The agreement includes an option to extend the lease by another 30 years. The proposal concerns an existing mill workers’ colony comprising 23 buildings, 476 residential tenements and 10 shops. Eligible occupants are to be rehabilitated as part of the redevelopment. The approval faced opposition from Shiv Sena (UBT) and Congress members over the terms and proposed use of the civic land.Read more

7 hours ago

Hazoor Multi Projects Ltd has secured a INR 28.47-crore contract from the National Highways Authority of India (NHAI) to operate as the user fee collection agency at Madangundi Fee Plaza on NH-31 in Jharkhand. The order was awarded through the e-tender process, according to a regulatory filing by the company. The project is located at kilometre 12.3 of the highway and has a tenure of 12 months. NHAI issued the Letter of Award to Hazoor Multi Projects for the user fee agency engagement. The company operates across renewable energy and infrastructure, including road construction projects undertaken on an engineering, procurement and construction (EPC) basis. The contract adds a highway-related assignment to the company's existing activities in the infrastructure and energy sectors.Read more

Hyderabad News Desk

8 hours ago

Hundreds of properties in Hyderabad’s Jubilee Hills and Banjara Hills have been included in Telangana’s prohibited properties list under Section 22-A of the Registration Act, restricting owners from registering, selling or transferring their holdings. The inclusion forms part of a wider revision of prohibited-property records following directions from the Telangana High Court and has affected established residential plots, houses, apartments and housing societies. Owners have questioned the classification of properties with longstanding ownership and registration records. The exercise has also affected properties across Greater Hyderabad, prompting representations seeking correction or removal from the restricted list.Read more

8 hours ago

Kerala is set to begin full export-import operations at Vizhinjam International Seaport, moving the facility beyond its existing transshipment role. The launch will take place alongside Mission Samudra, a state-backed port-led industrial and logistics development programme supported by a INR 400 crore catalytic fund. The mission will cover eight industrial clusters, three new cities and the state’s 600-kilometre coastline. Direct cargo movement through Vizhinjam is expected to reduce transit time and logistics costs while supporting exports, warehousing, cold storage, logistics parks and employment across Thiruvananthapuram and neighbouring districts.Read more

9 hours ago

India’s six listed Real Estate Investment Trusts (REITs) collectively distributed INR 3,136 crore to more than 4.85 lakh unitholders during the June quarter of FY27, according to data from the Indian REITs Association (IRA). The listed trusts covered by the data are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, Knowledge Realty Trust and Bagmane Prime Office. The distribution was more than double the INR 1,559 crore paid by four listed REITs during the corresponding quarter a year earlier. Knowledge Realty Trust and Bagmane Prime Office were listed subsequently. Since inception, the six REITs have cumulatively distributed more than INR 34,800 crore. Their combined gross assets under management stood above INR 3.17 lakh crore as of June 2026.Read more

9 hours ago

The Trump administration has asked the US Supreme Court to allow construction of a USD 400 million ballroom at the White House to continue while it prepares a full appeal against a lower court ruling. The US Court of Appeals for the District of Columbia Circuit had ordered a halt to above-ground construction, saying the project required congressional approval. The administration has argued that the project is necessary for national security and forms part of an integrated secure complex. The National Trust for Historic Preservation, which challenged the project, has urged the Supreme Court to reject the administration’s request.Read more

10 hours ago

The Punjab and Haryana High Court has directed the Haryana government’s urban local bodies department and the Municipal Corporation of Gurugram (MCG) to prepare a standard operating procedure and fixed timelines for removing debris after civic works. The court’s direction came during a petition concerning the delay in clearing road debris and the difficulties faced by residents. The court observed that people should not have to repeatedly approach the judiciary for basic civic issues such as road clearance. The proposed framework is expected to establish clear responsibility and ensure that debris is removed within a defined period after work is completed.Read more

10 hours ago

More than half of the 128 ready-to-move-in flats offered under the Delhi Development Authority’s (DDA) Karmjeevan Awas Yojana 2026 were booked on the first day, with 66 units sold, according to the authority. The scheme, launched on the occasion of India’s 80th Independence Day, offers homes in Pocket-II, Sector A6-A4, Narela at a 25% discount. The strongest demand was recorded for one-bedroom units, which were completely booked within hours, while two- and three-bedroom flats also attracted buyers. Discounted prices start at INR 33.40 lakh for one-bedroom units, INR 75.55 lakh for two-bedroom homes and INR 1.085 crore for three-bedroom units. The DDA said the scheme is aimed at government employees, working professionals and other eligible groups seeking relatively affordable home ownership in Delhi.Read more

11 hours ago

Kolkata Metro Railway plans to expand its rapid transit network to around 130 km in the coming years, according to General Manager Prem Sagar Gupta. The expansion was highlighted during the organisation’s Independence Day address at Metro Rail Bhavan, alongside details of passenger traffic, earnings and digital ticketing adoption. The network carried 23.60 crore passengers during FY26, underlining its role in Kolkata’s public transport system. Metro Railway also recorded earnings of INR 166 crore between April and July 2026, representing a 34% year-on-year increase. The organisation is simultaneously focusing on safety, passenger amenities and service reliability. Digital payment adoption has also increased, with commuters using electronic modes for tokens, smart cards, QR-code tickets and smart-card recharges through the Aamar Kolkata Metro app.Read more

11 hours ago

The Uttar Pradesh government has approved INR 8.99 crore for installing 1,342 CCTV cameras at 296 key traffic junctions across 51 districts. The project is aimed at improving road safety, monitoring traffic violations and strengthening enforcement in locations that are not covered by the Integrated Traffic Management System or Smart City surveillance projects. The network will include Automatic Number Plate Recognition and pan-tilt-zoom cameras, along with recording and supporting equipment. The state has directed the Uttar Pradesh Police headquarters’ traffic and road safety wing to complete the procurement process, with the sanctioned funds to be utilised by March 2027.Read more

12 hours ago

Kerala has approved implementation of the second phase of the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0), under which around 30,000 eligible beneficiaries are expected to receive housing assistance. The state Cabinet cleared the scheme in line with the Centre’s eligibility criteria, with Kerala set to sign a memorandum of understanding with the Union government to secure INR 450 crore in central assistance. Under the revised funding structure, each homeless beneficiary will receive total assistance of INR 4 lakh, comprising INR 1.50 lakh from the Centre and INR 1 lakh from the state, with the balance shared by the municipality and beneficiary. Beneficiaries will also be required to bear 25% of the total project cost. The second phase will begin as the existing PMAY-Urban LIFE phase is scheduled for completion by 30 September 2026.Read more

12 hours ago

Prime Minister Shri Narendra Modi said India has begun semiconductor production at three plants, with another five to eight facilities expected to be established over the next seven to eight years. Speaking from the Red Fort on the 80th Independence Day, Modi highlighted semiconductor manufacturing as an important component of India’s push for greater technological self-reliance. Semiconductor chips are critical to sectors including electronics, healthcare, transport and other modern technologies. The prime minister said India had discussed developing domestic semiconductor manufacturing capacity for years but lacked large-scale production facilities. He said the government had since taken steps towards building self-reliance in the sector, with semiconductor exports already beginning. The planned expansion is expected to strengthen India’s broader objectives of Aatmanirbhar Bharat and Viksit Bharat.Read more

13 hours ago

Union Minister H D Kumaraswamy has urged Karnataka Chief Minister D K Shivakumar to take over the Bengaluru-Mysuru Infrastructure Corridor Project (BMICP), implemented by Nandi Infrastructure Corridor Enterprises (NICE), and immediately stop toll collection on the roads. In a seven-page letter sent to Shivakumar on August 15, Kumaraswamy cited observations made by the Karnataka High Court regarding alleged irregularities in the project’s implementation and sought corrective action by the state government. NICE currently operates a 41-kilometre peripheral road and a 10-kilometre link road in Bengaluru, on which tolls are collected. Kumaraswamy has also called for legislation to formally take over the project, citing alleged violations of the Framework Agreement and Project Technical Agreement. The Chief Minister said the government would examine the matter and act in accordance with the law.Read more

13 hours ago

Prime Minister Narendra Modi said India’s solar power capacity has increased from 2 GW in 2014 to 160 GW, while the country is targeting 500 GW of renewable energy capacity by 2030. In his Independence Day address, he highlighted measures aimed at strengthening energy security as electricity demand rises across sectors including semiconductors, artificial intelligence and data centres. Modi said 50 lakh households have been covered under the PM Surya Ghar Muft Bijli Yojana, with eligible beneficiaries receiving subsidies of up to INR 80,000 for rooftop solar installations. He also outlined developments in railway electrification, hydrogen trains and nuclear energy, including a target of 100 GW of nuclear power by 2047. The government has additionally allocated INR 85,000 crore for oil and gas exploration in offshore no-go areas.Read more

14 hours ago

The Allahabad High Court has sought point-wise responses from the Centre and Uttar Pradesh government over a Public Interest Litigation alleging that the newly opened Lucknow-Kanpur Expressway developed potholes and suffered damage at 74 locations within 26 days of becoming operational. A bench comprising Justices Rajan Roy and Manjive Shukla directed the Ministry of Road Transport and Highways, National Highways Authority of India (NHAI) and Uttar Pradesh transport department to respond to the allegations. The petition concerns an expressway constructed at an estimated cost of INR 4,700 crore and alleges large-scale corruption in its construction. The petitioner has sought an independent investigation under the supervision of a retired Supreme Court or High Court judge or by an agency such as the Central Bureau of Investigation. The PIL has also challenged the toll rates being charged on the expressway.Read more

18 Aug 2026

New Zealand’s central bank has decided to maintain its existing mortgage loan-to-value ratio rules after reviewing housing market conditions and financial stability risks. The Reserve Bank of New Zealand’s Financial Policy Committee assessed house prices, the financial pressure on existing borrowers, recent lending activity and the resilience of the banking system before keeping the rules unchanged. Under the current settings, banks can allocate up to 25% of new lending to owner-occupiers with loan-to-value ratios above 80%, while up to 10% of new investor lending can have ratios above 70%. The decision keeps borrowing conditions unchanged for now.Read more

Delhi News Desk

18 Aug 2026

Delhi’s Master Plan 2047, approved by the Delhi Development Authority (DDA) and sent to the Centre, has divided the 9,934-hectare Yamuna O-Zone into two regulatory areas even as the National Green Tribunal’s scientific demarcation of the one-in-100-year floodplain remains incomplete. Zone I covers the 6,295-hectare riverbed and one-in-25-year floodplain, while Zone II covers the outer one-in-100-year floodplain. The plan proposes recreational facilities, including a 52-km cycle track, in Zone II. The NGT has directed that the floodplain’s outer boundary be identified using the one-in-100-year flood level and one-metre contours. DDA had sought additional time after the demarcation exercise stalled following receipt of a revised map from Delhi’s Irrigation and Flood Control Department. Experts and environmentalists have questioned the scientific basis and implications of the proposed zoning.Read more

18 Aug 2026

The Maharashtra Cooperation Department has released the draft Model Bye-Laws 2026 for cooperative housing societies and invited suggestions and objections from societies and other stakeholders before finalising the framework. A consultation on the draft was held in Pune on August 13 under Cooperation Commissioner Deepak Taware, with department officials and representatives of the Maharashtra State Cooperative Housing Federation participating. The proposed framework addresses several areas affecting housing societies, including redevelopment, maintenance and service charges, parking, electric vehicle charging, digital records, governance and dispute resolution.Read more

18 Aug 2026

Cosmic Solar EPC Private Limited, a wholly owned subsidiary of Cosmic PV Power Limited, has secured three solar engineering, procurement and construction (EPC) project orders worth a combined INR 574 crore. The company announced the order wins alongside the commencement of operations at its new corporate office in Chembur, Mumbai, and the appointment of Avi Mittal as chief executive officer, effective August 2026. The Mumbai office will serve as a base for business development, customer engagement, project management and partnerships across western and central India, complementing the company’s registered office in Surat, Gujarat. Cosmic Solar EPC provides rooftop solar EPC services for commercial, industrial and residential projects. Its parent company is also developing a 1.1 GW solar cell manufacturing line in Madhya Pradesh.Read more

18 Aug 2026

A magnitude 5 earthquake struck Granada in southern Spain in the early hours of Saturday, damaging some houses and cars, according to the Andalusian regional government. The earthquake hit the metropolitan area of Alhendin shortly after 1 a.m. Emergency services rescued several people from damaged buildings, while no injuries were reported. Images broadcast by Spanish television showed debris on streets and damage to vehicles in the popular tourist city. Authorities also confirmed that the Alhambra palace, one of Granada’s best-known historic landmarks, was not damaged by the earthquake.Read more

18 Aug 2026

Lodha Developers plans to launch 21 housing projects by March 2027, with an estimated revenue potential of INR 24,000 crore, as the developer prepares a larger project pipeline across key markets. The company’s planned launches include seven new projects spanning 5.9 million sq. ft. across the Mumbai Metropolitan Region, Delhi-NCR, Pune and Bengaluru, with a combined revenue potential of INR 9,850 crore. It will also introduce new phases across 14 existing projects covering 9.7 million sq. ft. and carrying an estimated revenue potential of INR 14,210 crore. The planned launches are intended to support the company’s INR 24,000-crore sales bookings target for FY2026-27. Lodha recorded sales bookings of INR 4,630 crore in the April-June quarter, while net profit doubled year-on-year to INR 1,373.1 crore.Read more

18 Aug 2026

Infrastructure major Larsen & Toubro (L&T) has secured a mega order valued between INR 10,000 crore and INR 15,000 crore to establish an artificial intelligence infrastructure facility at its Chennai data centre campus. The project marks L&T’s entry into the AI Factory business and will be developed through LTN Compute and Vyoma.AI for US-based Together AI. The facility will use NVIDIA B300 GPUs and have capacity for 10,000 GPUs, supporting large-scale AI inference, fine-tuning and training workloads. Vyoma’s Chennai campus is planned as a gigawatt-scale AI infrastructure site, with Phase 1 designed for 250 MW and 150 MVA of power infrastructure readiness. The integrated facility will combine data centre infrastructure, accelerated computing, high-performance networking, storage and AI infrastructure operations.Read more

18 Aug 2026

Nagpur Metro Phase II has entered the track-laying stage, with MahaMetro completing around 2 kilometres of track on the Kamptee stretch of Reach-2. The development marks the transition of completed viaduct sections from civil construction to railway systems work. MahaMetro has introduced a redesigned track fastening system that has received approval from the Research Designs and Standards Organisation (RDSO). The system uses a smaller base plate, a two-hole fastening arrangement and double rubber pads aimed at reducing construction costs and vibrations. Track laying on other reaches will follow as more viaduct sections become ready.Read more

18 Aug 2026

Shiprocket Ltd’s INR 1,617.5-crore initial public offering (IPO) received an overwhelming response from investors, with the issue subscribed 99.38 times by the close of bidding. The company received bids for more than 938.51 crore shares against 9.44 crore shares on offer, according to NSE data. Qualified institutional buyers led the demand with a 122.80-times subscription, while non-institutional investors and retail investors subscribed 88.99 times and 46.42 times, respectively. The company had raised INR 727.41 crore from anchor investors before the public issue opened.Read more

18 Aug 2026

Arab Development and Real Estate Investment reported a net loss after tax of EGP 1.9 million for the first half of 2026, while revenue stood at EGP 4.1 million. The company operates in Egypt’s real estate sector and is listed on the Egyptian Exchange’s SME market. Its latest results come after a profitable 2025, when the company recorded net profit of EGP 12.7 million. However, earnings had already weakened in the first quarter of 2026, when net profit fell 60.3% year-on-year and revenue declined to EGP 1.607 million.Read more

18 Aug 2026

The Enforcement Directorate (ED) conducted searches at multiple locations across Delhi-NCR as part of a money laundering investigation into alleged cheating of homebuyers through subvention schemes. The investigation concerns real estate companies AVJ Developers (India) and Rudra Buildwell Construction and stems from two separate FIRs registered by the Central Bureau of Investigation (CBI). According to officials, the alleged arrangement involved a nexus between builders and banks under which homebuyers were offered a ‘No EMI till possession’ scheme. Buyers obtained housing loans and booked flats or apartments in the developers’ projects, but possession was allegedly not handed over even after several years. The ED’s investigation is being conducted under the Prevention of Money Laundering Act (PMLA).Read more

18 Aug 2026

Delhi is set to develop Anand Vihar, Kashmere Gate and Sarai Kale Khan as multi-modal transport hubs to integrate different public transport systems and improve passenger connectivity across the capital. The three locations are being planned as key interchange points linking metro services with railways, interstate bus services and other modes of urban transport. The initiative is part of efforts to improve integration between Delhi’s major transport networks and facilitate smoother passenger movement between terminals and services. The hubs are expected to consolidate transport infrastructure at the three locations while improving interchange facilities for commuters. The plan involves coordination among multiple agencies responsible for Delhi’s transport and urban infrastructure, with the proposed hubs intended to support more seamless movement across the city’s major transport corridors.Read more

18 Aug 2026

Smartworks Coworking Spaces Ltd is adding 176,285 square feet of coworking capacity in Pune with an investment of INR 280 million. The addition is expected to further increase the company’s operational footprint in the city as demand for flexible and managed office space continues to grow. Smartworks had about 10.4 million square feet of operational space across 54 centres in 15 cities at the end of June, while its total footprint stood at around 16.9 million square feet. The company has also recently expanded its Pune operations through new enterprise client engagements.Read more

18 Aug 2026

MahaMetro has resurfaced Nagpur’s Wardha Road double-decker flyover after potholes and rough patches affected the ride quality for commuters. The repair followed reports highlighting the deteriorating condition of the city’s double-decker flyovers, particularly around the Ajni and Airport Square approaches and exits. The Wardha Road structure, which combines a road flyover and Metro viaduct, was opened in 2020 and continues to be maintained by MahaMetro. The repair also comes as both the Wardha Road and Kamptee Road structures are expected to eventually be handed over to the Nagpur Municipal Corporation.Read more

18 Aug 2026

Arihant Foundations & Housing Ltd reported a consolidated net profit of INR 240.9 million, or INR 24.09 crore, for the June quarter, according to the company’s latest financial update. Consolidated revenue from operations stood at INR 1.34 billion, or INR 134 crore. The company had reported consolidated revenue of INR 84.89 crore and net profit of INR 16.35 crore in the corresponding quarter of the previous financial year. Arihant operates in residential and commercial real estate development, with its portfolio focused largely on Chennai and surrounding markets.Read more

18 Aug 2026

China’s new home prices remained under pressure in July as weak demand continued to affect the property market. New home prices fell 0.1% from the previous month, while the annual decline narrowed slightly to 3.2% from 3.3% in June, according to Reuters calculations based on National Bureau of Statistics data. Only 17 of 70 surveyed cities recorded monthly price increases. Property sales, investment and new construction starts also declined at a faster pace during the first seven months of the year. Local governments continue to introduce measures to support housing demand, but a broad recovery remains uncertain.Read more

Delhi News Desk

18 Aug 2026

Delhi Chief Minister Smt Rekha Gupta inaugurated a two-lane slip road bridge connecting Ghazipur in East Delhi with the Hindon Canal on Thursday. The bridge is intended to improve road connectivity for residents of Kondli, Kalyanpuri, Ghazipur and surrounding areas, while easing traffic pressure and reducing commuting time. Delhi Public Works Department Minister Parvesh Sahib Singh said the project had remained incomplete for six years because of pending issues, including payment to the contractor, before the BJP government cleared the matters and completed the work. Union Minister of State for Road Transport and Highways and East Delhi MP Harsh Malhotra said the bridge over a large drain would improve connectivity for residents of Trilokpuri, Kondli and Patparganj assembly constituencies. The government also said the Barapulla flyover, under construction for 10 years, had been completed and would be inaugurated soon.Read more

18 Aug 2026

The Securities and Exchange Board of India (SEBI) has revised the framework for calculating net distributable cash flow (NDCF) for Infrastructure Investment Trusts (InvITs), allowing payments towards major maintenance expenses of road projects funded through external debt to be added back while calculating NDCF. The provision applies at both the special purpose vehicle (SPV)/holding company and trust levels. The regulator has, however, linked the benefit to project-level unitholder approval, auditor certification and detailed disclosures. The move follows industry requests for a change in the treatment of debt-funded major maintenance costs under the existing NDCF framework.Read more