29 minutes ago

The Food Safety and Standards Authority of India (FSSAI) has suspended the food business licence of Park Plaza in Shahdara, Delhi, operated by Mahagun Hotels, after an inspection found several serious food safety and hygiene violations. The regulator identified the use of degraded cooking oil, unhygienic kitchen conditions, expired food products, pest infestation, poor food storage practices, and lack of segregation between vegetarian and non-vegetarian food. The hotel has been given 15 days to rectify the violations, failing which its licence may be cancelled. The action is part of FSSAI’s continued enforcement drive against food safety violations across the country.Read more

59 minutes ago

The Asian Development Bank (ADB) has approved loans worth USD 1.85 billion to support India's urban development and clean energy goals. The funding includes USD 1 billion for urban reforms under the Urban Challenge Fund and USD 850 million to accelerate the government's rooftop solar programme. The initiatives aim to strengthen urban infrastructure, improve governance, expand municipal financing, promote sustainable city planning, and increase rooftop solar adoption. The programme is also expected to create green jobs, encourage women's participation, strengthen domestic clean energy supply chains, and help India achieve its renewable energy targets.Read more

1 hour ago

The Union government has issued the seventh draft notification proposing eco-sensitive areas in the Western Ghats, extending the consultation process after several states raised concerns over the extent of protected regions and restrictions on development activities. The draft seeks to regulate environmentally sensitive activities while balancing conservation and livelihoods across the ecologically significant mountain range. States have been invited to submit their feedback before the notification is finalised.Read more

1 hour ago

The Central Government has approved 111 road projects worth INR 2,481.93 crore under the Vibrant Villages Programme-I (VVP-I) to improve all-weather road connectivity for 134 unconnected villages along India's northern border. The initiative forms part of a broader strategy to strengthen border infrastructure, enhance access to essential services and support socio-economic development in remote frontier regions. The programme also continues to expand mobile connectivity, electricity, drinking water, healthcare and education infrastructure across identified border villages.Read more

2 hours ago

Unite Group, the UK's largest purpose-built student accommodation provider, has maintained its full-year earnings guidance despite reporting lower first-half adjusted earnings. The decline was mainly driven by higher financing costs, integration expenses related to the Empiric Student Property acquisition, and portfolio restructuring. The company is continuing to dispose of lower-yielding assets while increasing its focus on accommodation linked to leading UK universities, where demand remains strong. Although its shares fell following the results, the company said international student demand is improving and remains confident about its long-term strategy.Read more

2 hours ago

Highway Infrastructure Ltd (HIL), an Indore-based infrastructure development and management company, has received a long-term credit rating of IVR BBB+/Stable and a short-term rating of IVR A2 from Infomerics Valuation and Rating Ltd for its bank loan facilities worth INR 200.88 crore. The ratings reflect the company's capital structure, execution capabilities and sizeable order book across its toll collection and EPC businesses. The Stable outlook indicates sustained business visibility over the medium term, supported by ongoing project execution and prospects of securing additional infrastructure contracts. HIL currently operates across 12 states and one Union Territory, with business interests spanning toll operations, engineering, procurement and construction (EPC) projects, and real estate.Read more

3 hours ago

CBRE has increased its full-year 2026 earnings forecast after reporting strong second-quarter results, supported by growing demand for leasing, facilities management and building operations services. The expansion of artificial intelligence infrastructure and data centres continues to create opportunities across the commercial real estate sector, driving property development, leasing activity and asset management. The company also reported double-digit growth in revenue and earnings during the quarter, with revenue exceeding analysts' expectations, reflecting sustained momentum across its business segments.Read more

Mumbai News Desk

3 hours ago

The Brihanmumbai Municipal Corporation (BMC) has deferred a proposal to lease around 15 acres of reclaimed land at the Mulund dumping ground for the Dharavi Redevelopment Project after civic members raised environmental concerns. The site has been identified for temporary construction support facilities, but the civic body has sought additional technical clarifications before granting approval. The development highlights the growing emphasis on balancing large-scale urban redevelopment with environmental compliance and sustainable land-use planning.Read more

4 hours ago

Marvell Technology has announced plans to invest USD 250 million (around INR 2,400 crore) in India over the next three years as part of its strategy to strengthen technology development, talent and infrastructure. The investment comes as the semiconductor company marks 20 years of operations in the country. Along with expanding its research and development capabilities, Marvell plans to double its workforce, open a new wing at its Bengaluru office and increase its presence in Hyderabad. The move also aligns with India's growing role as a global semiconductor and engineering hub.Read more

4 hours ago

A powerful magnitude 7.1 earthquake struck Japan's southern Kyushu region, causing widespread structural damage, disrupting transport services and triggering a tsunami advisory that was later withdrawn. Rescue teams were deployed to search collapsed structures and assist residents in the affected areas as authorities assessed the extent of the damage. The disaster once again highlighted Japan's preparedness for major seismic events while underscoring the vulnerability of urban infrastructure to powerful earthquakes.Read more

5 hours ago

Authorities in Maharashtra's Palghar district have imposed prohibitory orders near the Vadhavan deep sea port project site to prevent unlawful gatherings amid opposition from a section of local residents. The restrictions cover a 500-metre radius around the acquired land and access road construction areas in six villages and will remain in force until September 25. The administration said the move was taken to avoid disruptions to ongoing reclamation and road construction work, while ensuring public safety and maintaining law and order during the execution of the country's largest proposed deep sea port project.Read more

5 hours ago

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed and opened the final Bharat Diamond Bourse (BKC)-Vakola arm of the Santacruz-Chembur Link Road (SCLR), creating a continuous 10.88-km signal-free east-west corridor across Mumbai. The project integrates multiple elevated connectors, bridges and carriageways linking the Eastern and Western Express Highways through key commercial and residential hubs. The completed corridor is expected to reduce congestion, improve travel efficiency and strengthen connectivity across the Mumbai Metropolitan Region.Read more

6 hours ago

Private sector banks collected INR 4,948.71 crore from customers during FY26 for failing to maintain the required minimum average balance in savings and current accounts, according to information shared by the government in Parliament. Public sector banks collected INR 2,137.92 crore during the same period. HDFC Bank and Axis Bank together accounted for nearly 58% of the total collections made by private banks. The government also said that Basic Savings Bank Deposit Accounts, including PMJDY accounts, remain exempt from such charges, while highlighting the improved financial position of public sector banks and the launch of ECLGS 5.0 to support businesses.Read more

Mumbai News Desk

6 hours ago

The Bombay High Court has set aside money laundering proceedings initiated against D B Realty Limited and its Managing Director, Vinod Goenka, holding that the Prevention of Money Laundering Act (PMLA) case could not continue in the absence of a valid scheduled offence. The court ruled that once the predicate offence had ceased to exist, the enforcement proceedings based on it were unsustainable. The judgment clarifies the legal relationship between scheduled offences and money laundering prosecutions under the PMLA.Read more

7 hours ago

The LEGO Group has expanded its presence in India by opening its first LEGO Certified Store in Mumbai at R City Mall, Ghatkopar, in partnership with the Ample Group. The outlet is the company's fifth certified store in the country and features over 250 LEGO sets, including several exclusive products. Spread across 2,310 square feet, the store includes India’s first LEGO vertical Play Wall and Mumbai-inspired brick installations. The launch also featured a Guinness World Records attempt, community initiatives, and partnerships aimed at promoting creative play and supporting children through educational and charitable activities.Read more

7 hours ago

Keppel has crossed its interim 2026 target for funds under management (FUM) ahead of schedule, supported by strong capital inflows into its infrastructure, real estate and connectivity private funds. The Singapore-based asset manager said it secured substantial commitments from global investors and continued to benefit from rising demand for digital infrastructure, cloud computing and artificial intelligence-linked investments. The company also expanded its acquisition pipeline through its infrastructure strategies. Following the announcement, Keppel's shares gained more than 3% during trading, reflecting positive investor sentiment.Read more

Mumbai News Desk

8 hours ago

The Brihanmumbai Municipal Corporation (BMC) is set to begin tunnel excavation for the Goregaon-Mulund Link Road (GMLR), marking a major construction milestone for one of Mumbai's largest transport infrastructure projects. The underground work will create twin tunnels beneath the Sanjay Gandhi National Park, forming the core of the east-west corridor. Once completed, the project is expected to improve connectivity between the city's eastern and western suburbs, reduce travel time and support long-term urban development.Read more

8 hours ago

Piramal Finance has entered into a co-lending partnership with Muthoot Fincorp to improve access to affordable housing finance and loan-against-property products across India, with a focus on Tier 2 and Tier 3 cities, semi-urban and rural markets. Alongside this development, Axis Finance has introduced a new data-driven credit initiative to improve loan processing and risk management, Standard Chartered Bank has appointed a new technology and operations head for India and South Asia, and AU Small Finance Bank has revised interest rates on select FCNR and NRE deposit schemes.Read more

9 hours ago

India's warehousing and industrial real estate market recorded steady growth during the first half of 2026, supported by strong occupier demand across key sectors and continued infrastructure development. According to Vestian, leasing activity increased 16 per cent year-on-year to 22 million square feet across seven major cities, while institutional investments rose 53 per cent to USD 49 million. Although investment volumes improved, the segment continued to account for only 1 per cent of total institutional investments, indicating that investors remain selective despite positive market fundamentals.Read more

9 hours ago

Australia’s housing market has entered its weakest phase since the COVID-19 pandemic, with higher borrowing costs and changes to investor tax policies reducing buyer confidence and slowing property activity. Home prices in Sydney and Melbourne have declined, while housing demand, mortgage inquiries and property sales have weakened. The slowdown is also affecting industries linked to real estate, including construction, retail and banking, while state governments are facing lower stamp duty collections. The Reserve Bank of Australia (RBA) has acknowledged the sharper-than-expected cooling in the housing market as it continues its efforts to control inflation.Read more

10 hours ago

Tata Capital Housing Finance has accepted bids worth INR 5.25 billion through the reissue of its May 2030 bonds, according to bankers. The bonds will carry a yield of 7.7303%, following commitment bids invited recently. The issuance comes as companies continue to tap the domestic debt market to meet funding requirements amid stable demand from institutional investors for highly rated corporate bonds. The company has not commented on the development. Other issuers, including Summit Digitel and State Bank of India, are also in the market with bond offerings.Read more

10 hours ago

Vedanta Power has received an upgrade in the credit rating of its guaranteed long-term bank facilities from CRISIL following the completion of the Vedanta Group's demerger. The improved rating reflects the company's stronger credit profile, healthy liquidity, diversified thermal power assets and strategic importance. CRISIL also highlighted Vedanta Power's stable operating performance, long-term power purchase agreements and secure fuel supply arrangements. The company is also set to expand its generation capacity with the commissioning of an additional 600 MW unit at its Sakti Thermal Plant during the current financial year.Read more

11 hours ago

Hitesh Nihalani, Partner at Crown Construction Company and N K Builders & Developers, has completed more than 20 years in Mumbai's construction and real estate industry. Over the past two decades, he has overseen the development of residential projects focused on structural quality, timely execution and customer-centric planning. According to the company, his approach combines practical construction experience with evolving market requirements, enabling the firms to adapt to changing regulations, materials and buyer preferences. The developer stated that its projects continue to emphasise functional design, efficient space utilisation and long-term durability across Mumbai's residential market.Read more

11 hours ago

Himachal Pradesh is looking to unlock nearly INR 25,000 crore in new economic opportunities by promoting science and technology-based innovations across agriculture, forestry, bio-economy, tourism, and hydropower. Speaking during the 'Atmanirbhar Yatra' regional outreach conference in Shimla, HIMCOSTE Member Secretary Pushpendra Rana highlighted the commercial potential of forest resources, biofuels, bamboo, and value-added products. The state is also considering the creation of an Innovation Fund to encourage research, startups, and technology commercialisation, while strengthening collaboration between research institutions, industries, and government agencies.Read more

11 hours ago

India's real estate sector has witnessed more than soaring skylines and record-breaking sales over the past decade. Behind many residential towers are stories of financial collapses, regulatory reforms, developer failures and court battles that changed the industry forever. While some Crisis left thousands of homebuyers stranded, others forced the government, courts and regulators to rewrite the rules of the market. Though many have faded from public memory, their impact continues to shape India's real estate landscape. Here are 10 defining Crisis that transformed the property sector between 2016 and 2026.Read more

12 hours ago

Malaysia-based Sime Darby Property has launched a 2.6 billion ringgit (USD 636.63 million) sukuk programme to support the development of hyperscale data centres and industrial and logistics assets under its New Economy Venture platform. The Green Sukuk will partly finance data centres at Elmina Business Park and a build-to-suit distribution warehouse in the City of Elmina. Both projects are backed by long-term lease agreements with anchor tenants, reflecting the company's strategy to expand its recurring income portfolio while supporting Malaysia's growing digital infrastructure and logistics sectors.Read more

12 hours ago

The Jaipur Development Authority (JDA) has identified more than 6,000 commercial establishments operating from residential plots as part of a citywide enforcement drive following recent judicial scrutiny of illegal constructions. Authorities have initiated action by issuing notices to property owners and occupants, directing them to rectify violations or face further legal measures. The exercise aims to restore compliance with land-use regulations, strengthen urban planning enforcement and curb the unauthorised commercial use of residential properties across Jaipur.Read more

12 hours ago

Commercial real estate lending by non-banking financial companies (NBFCs) is expected to maintain steady momentum as demand for project financing and structured credit remains strong, according to industry assessments. Improved credit offtake, rising bank lending to NBFCs and continued activity in residential and commercial developments are supporting the sector's outlook. While lenders remain selective in underwriting, favourable funding conditions and sustained real estate demand are expected to keep commercial property financing on a stable growth path.Read more

13 hours ago

The Telangana government has granted a special relaxation to permit the construction of a commercial high-rise building in Hyderabad's Jubilee Hills, allowing the project to proceed despite restrictions under existing building regulations. The approval, issued through a government order, provides exemptions from certain planning norms while requiring the developer to comply with safety, environmental and other statutory requirements. The decision highlights the state's use of discretionary planning provisions for specific developments in premium urban locations.Read more

13 hours ago

Nvidia has reportedly signed lease agreements worth up to USD 50 billion for a large-scale data centre being developed by Hut 8 in Texas, according to a Financial Times report citing people familiar with the matter. The project is linked to Hut 8's 1-gigawatt Beacon Point campus, which the company had previously disclosed without naming the customer. While Reuters could not independently verify the report, the development highlights the growing investment in AI infrastructure as technology companies expand data centre capacity to meet rising demand for artificial intelligence computing.Read more

14 hours ago

Taj Hotels has partnered with the Prabha Khaitan Foundation under Project Prayas to provide practical hospitality training to young adults with special needs across its Kolkata hotels. Supported by Shree Cement Limited, the initiative focuses on developing workplace skills through hands-on experience rather than classroom learning. Participants will engage in front-of-house responsibilities such as welcoming guests and serving beverages under the guidance of hotel professionals. The collaboration also supports IHCL's broader ESG commitments to youth skill development and aims to promote inclusive employment opportunities in the hospitality sector.Read more

14 hours ago

The proposed demolition of 38 buildings at Mohammad Ali Jauhar University in Rampur has been put on hold after the Moradabad Divisional Commissioner's Court granted interim relief to the institution. The stay suspends the demolition order issued by the Rampur Development Authority until the appeal is decided. The development allows the university to contest the authority's findings through the legal process while ensuring that no irreversible action is taken before the dispute is adjudicated.Read more

15 hours ago

Air India has partnered with the Union Ministry of Tourism to jointly promote India as a global tourism destination while strengthening the country's position as an international aviation and transit hub. The collaboration will focus on tourism marketing, destination storytelling, trade engagement, transit tourism and improving visitor experience. By combining Air India's expanding international network with the Ministry's Incredible India campaign, the initiative aims to attract more foreign tourists, improve India's global tourism presence and support the government's efforts to boost inbound travel and connectivity.Read more

15 hours ago

UDR has projected its full-year 2026 adjusted funds from operations (FFO) below market expectations after reporting that operating expenses continued to rise faster than rental income growth during the second quarter. The apartment-focused REIT recorded modest revenue growth but faced higher property-related costs and a slight decline in occupancy. The company operates nearly 60,000 rental homes across the United States and, like many residential landlords, continues to face pressure from increased apartment supply, slower rent growth and elevated interest rates affecting the multifamily housing market.Read more

16 hours ago

The Haryana Real Estate Regulatory Authority (HRERA) has directed developers to compensate homebuyers in cases where flats were not handed over within the committed timelines. The authority held that prolonged delays caused financial hardship and inconvenience to buyers, who remained deprived of their homes despite fulfilling their payment obligations. The orders reaffirm HRERA's commitment to enforcing accountability in the real estate sector while strengthening consumer confidence through timely regulatory intervention.Read more

16 hours ago

Knowledge Realty Trust reported a strong performance for the first quarter of FY27, with its Net Operating Income (NOI) and total revenue rising 15 per cent year-on-year. The REIT also announced its highest-ever quarterly distribution of INR 751.6 crore to unit holders. Growth was supported by higher portfolio occupancy and healthy office leasing demand, particularly from front-office occupiers. During the quarter, the trust leased 1.4 million square feet of office space across its portfolio. Backed by Sattva Group and Blackstone, Knowledge Realty Trust continues to be India's largest listed real estate investment trust by office portfolio.Read more

17 hours ago

Uttar Pradesh has outlined its plan to become one of India’s leading destinations for Global Capability Centres (GCCs), with the state aiming to attract nearly 10% of all new GCCs set up across the country. While Noida and Greater Noida remain the primary focus, the government is also preparing cities such as Lucknow, Varanasi, Agra, Prayagraj and Bundelkhand to support future GCC investments. The state is strengthening its policy framework, digital infrastructure, talent ecosystem and governance while planning a dedicated advisory board to accelerate investments and improve coordination.Read more

17 hours ago

A new registration requirement introduced by the Haryana Shahari Vikas Pradhikaran (HSVP) for auctioned plots has raised concerns among buyers over additional compliance requirements and potential delays in property registration. The revised process is aimed at strengthening documentation and ensuring greater transparency in property transactions. However, plot allottees have sought greater clarity on its implementation, citing uncertainty over procedural requirements and the impact on timely execution of sale deeds.Read more

18 hours ago

Tata Power will commence construction of its INR 6,675 crore solar ingot and wafer manufacturing facility in Odisha this October, marking a significant investment in India's clean energy manufacturing sector. The 10 GW project, coming up at Gopalpur in Ganjam district, will strengthen the domestic supply chain for solar equipment by producing key upstream components used in photovoltaic modules. The facility is expected to support India's renewable energy ambitions, reduce dependence on imports and generate employment while reinforcing Odisha's position as an emerging hub for advanced manufacturing.Read more

18 hours ago

The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL) following the Reserve Bank of India's decision to revoke its banking licence earlier this year over persistent regulatory violations. The court has appointed former State Bank of India executive Girikumar M. Nair as the official liquidator, who has assumed the powers of the bank's board. PPBL had faced regulatory action over the past few years, including restrictions on onboarding new customers and curbs on deposits and wallet top-ups, before its licence was cancelled.Read more

19 hours ago

Essential Properties Realty Trust has launched an at-the-market (ATM) equity offering that allows it to issue up to USD 750 million worth of common stock, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The programme provides the real estate investment trust (REIT) with the flexibility to raise capital over time based on market conditions instead of issuing shares in a single transaction. The proceeds are expected to support the company's investment pipeline, portfolio expansion, debt management and other general corporate requirements.Read more

19 hours ago

Flat registrations across Nagpur have been temporarily suspended as authorities begin verifying compliance with essential infrastructure and safety requirements in residential projects. The move coincides with the Nagpur Municipal Corporation (NMC) assuming responsibility for building plan approvals previously handled by the Nagpur Improvement Trust (NIT). The transition aims to strengthen regulatory oversight, improve accountability in urban development and ensure that new housing projects meet statutory planning and civic infrastructure norms before transactions proceed.Read more

20 hours ago

Tamilnad Mercantile Bank (TMB) reported a 35% year-on-year rise in net profit to INR 412 crore for the first quarter of FY27, supported by higher core income, stronger net interest income and improved asset quality. The bank also announced plans to explore opening an overseas representative office to mobilise deposits from non-resident Indians (NRIs) and invest INR 280 crore in technology upgrades. Alongside expanding its branch presence in Tamil Nadu, Maharashtra and Gujarat, the lender continued to strengthen its balance sheet with lower bad loans, higher capital adequacy and an improved provision coverage ratio.Read more

20 hours ago

The Odisha government is stepping up its aviation infrastructure programme with plans to expand airport facilities, improve regional air connectivity and attract greater investment in the sector. The initiative aims to strengthen links between key cities, support tourism, facilitate industrial growth and improve accessibility to underserved regions. By prioritising aviation development alongside broader infrastructure projects, the state seeks to position itself as an emerging aviation hub while creating new opportunities for trade, business and economic development.Read more

21 hours ago

The Telangana government has approved an administrative sanction of INR 2,278.14 crore for the proposed joint-use airport project at Adilabad, paving the way for land acquisition and preparatory works. The project will combine defence and civilian aviation infrastructure, with over 2,000 acres identified for development. Once completed, the airport is expected to improve regional air connectivity, support industrial growth, enhance logistics and strengthen strategic infrastructure in northern Telangana.Read more

21 hours ago

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled in favour of a woman who challenged a tax addition of INR 80 lakh linked to the purchase of a residential property. The tribunal held that the amount paid directly by her NRI husband from his overseas bank account could not be treated as her unexplained investment. The ruling underscores the importance of documentary evidence in property transactions involving funds remitted by family members residing abroad.Read more

22 hours ago

The Centre has advanced the redevelopment of Warangal's Mamnoor Airport by granting in-principle approval for a project estimated at nearly INR 497 crore, while the proposed airport at Bhadradri Kothagudem remains pending due to site-related issues. Authorities are awaiting a formal proposal for an alternative location before the Bhadradri project can proceed. The contrasting progress highlights the different stages of Telangana's efforts to expand regional aviation infrastructure and improve connectivity across the state.Read more

22 hours ago

The National Green Tribunal (NGT) has directed the Uttar Pradesh Pollution Control Board (UPPCB) to verify allegations that construction activity is continuing at certain projects in Greater Noida despite closure orders issued for environmental violations. During a hearing held in the past week, the tribunal also granted the Greater Noida Industrial Development Authority (GNIDA) four weeks to submit a comprehensive report identifying projects allegedly violating environmental norms. The matter relates to an application alleging that several developments are proceeding without mandatory environmental clearances and statutory consents under environmental regulations. The tribunal has sought factual verification before considering further action against the alleged violations.Read more

23 hours ago

The Gujarat government has launched the Gujarat Shipbuilding Policy 2026 with the objective of strengthening the state's position as India's leading maritime manufacturing hub. The policy aims to attract investments of around INR 27,000 crore, create a shipbuilding capacity of 50 lakh deadweight tonnes (DWT) and generate large-scale employment. It also proposes the development of dedicated shipbuilding parks, incentives for new investments and measures to enhance the state's shipbuilding and repair ecosystem, supporting India's broader maritime growth ambitions.Read more

23 hours ago

The Delhi High Court has upheld the Central government's decision to extend Vedanta Ltd. 's production sharing contract (PSC) for the Cambay oil and gas block in Gujarat, dismissing challenges to the extension policy. The court ruled that the government's framework for extending exploration and production rights was consistent with statutory provisions and public interest objectives. The judgment reinforces policy certainty in India's upstream energy sector while recognising the importance of continued domestic hydrocarbon production.Read more