Pune News Desk

11 minutes ago

The Pune Municipal Corporation (PMC) has officially taken over the Pune Metropolitan Region Development Authority's (PMRDA) flagship town planning (TP) schemes after nearly eight years of planning and administrative processes. The transfer follows the inclusion of 23 villages into PMC limits, bringing the planning and implementation of these schemes under the civic body's jurisdiction. The move is expected to streamline approvals, infrastructure planning and project execution while ensuring better coordination between urban planning and civic development in the newly merged areas.Read more

41 minutes ago

Bank of India reported a strong financial performance in the first quarter of FY27, with consolidated net profit rising 80.51 per cent year-on-year to INR 3,302.58 crore, supported by higher non-interest income and steady growth in core banking operations. The state-owned lender also recorded healthy growth in advances and deposits while further improving its asset quality. The bank expects continued business growth during the current financial year, supported by a strong corporate loan pipeline, higher retail lending, and mobilisation of FCNR(B) deposits under the Reserve Bank of India's special window.Read more

1 hour ago

State-owned NBCC (India) Ltd has secured project management consultancy (PMC) contracts worth about INR 109 crore for infrastructure projects in Jammu & Kashmir and Odisha. The assignments include the construction of a horticulture laboratory complex in Srinagar and hostel facilities at educational institutions in Odisha. The new orders strengthen NBCC's project portfolio in the public infrastructure segment and reflect continued government investment in research and education-related facilities.Read more

1 hour ago

The Mysuru district administration has directed authorities to shut down illegal homestays operating without valid approvals following a recent assault case involving a tourist that raised concerns over safety and regulatory compliance. The administration has asked officials from the tourism and other departments to identify unregistered properties and initiate action against them. The move is aimed at improving oversight of accommodation facilities, ensuring compliance with licensing norms and strengthening safety measures for visitors. The crackdown is also part of a broader effort by Karnataka to tighten monitoring of the homestay sector.Read more

2 hours ago

The Union Cabinet has approved a multi-tracking railway project worth INR 1,264 crore to strengthen the Ballari-Guntakal corridor spanning Karnataka and Andhra Pradesh. The project will add around 46 km of railway lines, improve network capacity, ease congestion and support faster movement of passengers and freight. Scheduled for completion by 2028-29, the initiative is expected to enhance connectivity for nearly seven lakh people across 99 villages while supporting industrial logistics and regional economic development.Read more

2 hours ago

UltraTech Cement is planning its largest-ever rupee-denominated bond issue as it looks to raise INR 50 billion from the domestic debt market ahead of the Reserve Bank of India's monetary policy announcement scheduled for August 5. The proposed fundraising will be spread across three maturities and is expected to attract institutional investors due to its AAA credit rating. The move comes after the company reported a strong first-quarter performance and continues its strategy of maintaining financial flexibility while supporting business growth and managing its debt obligations.Read more

28 Jul 2026

HDFC Bank's board has imposed a monetary penalty of INR 1 lakh each on Managing Director and CEO Sashidhar Jagdishan, Chief Financial Officer Srinivasan Vaidyanathan and Group Head (Retail Assets) Arvind Vohra over deviations from Reserve Bank of India (RBI) directions in the Maharashtra State Road Development Corporation (MSRDC) matter. The board said the actions stemmed from business overreach rather than any mala fide intent or personal gain. Warning letters were also issued to other employees involved, and the matter has been communicated to the RBI as part of the bank's regulatory compliance process.Read more

28 Jul 2026

Digital Realty Trust has raised its full-year adjusted funds from operations (FFO) and revenue forecasts after reporting stronger-than-expected second-quarter earnings, supported by sustained demand for data centre capacity from cloud computing and artificial intelligence (AI) customers. The US-based real estate investment trust (REIT) posted a 29% year-on-year increase in quarterly revenue to USD 1.92 billion, exceeding market estimates, while adjusted FFO also surpassed analyst expectations. The company continues to expand its global data centre footprint and is progressing with a USD 3.5 billion acquisition of a larger stake in three data centres in Northern Virginia, reinforcing its presence in the world's largest data centre market.Read more

Indore News Desk

28 Jul 2026

The Indore Municipal Corporation (IMC) has demolished eight dilapidated houses along Jeevan Rekha Marg as part of its ongoing drive to remove unsafe structures during the monsoon. The action was taken after officials identified the buildings as dangerous and at risk of collapse, posing a threat to residents and commuters. The demolition is also expected to support an ongoing road connectivity project in the area. The civic body said it will continue surveying old and unstable buildings across the city to prevent accidents and improve public safety.Read more

Pune News Desk

28 Jul 2026

Pune Metro Line 3 has achieved a major milestone after the Commissioner of Metro Rail Safety (CMRS) approved the first 13-km section of the corridor for passenger operations. The cleared stretch connects Maan with the R.K. Laxman Museum station forms part of the 23-km Hinjewadi-Shivajinagar Metro line. With the mandatory safety certification now secured, the project has entered its final operational stage, and commuter services are expected to begin after the completion of statutory and administrative formalities.Read more

28 Jul 2026

Searah, the joint venture between Italy's Eni and Malaysia's Petronas, has begun constructing a Floating Production, Storage and Offloading (FPSO) vessel for its USD 11.8 billion North Hub gas project in Indonesia. The facility will process production from the Geng North and Gehem gas fields in the Kutai Basin. The project is expected to begin production in 2028, with a planned output of 1 billion cubic feet of gas and 80,000 barrels of condensate per day. Around USD 2.9 billion has been allocated for the FPSO's development.Read more

Mumbai News Desk

28 Jul 2026

The Ministry of Defence has declined to transfer a parcel of defence land required for the proposed mega rail terminus at Kandivali, creating a fresh hurdle for the infrastructure project. The land was considered crucial for the planned terminal, which is intended to decongest Mumbai's existing railway stations and improve suburban and long-distance rail operations. The decision is expected to prompt railway authorities and the Maharashtra government to explore alternative solutions for advancing the project.Read more

Mumbai News Desk

28 Jul 2026

Prestige Group has acquired a 2.35-acre land parcel in Mulund (West), Mumbai, for INR 110.75 crore, reinforcing its long-term expansion strategy in India's largest residential property market. The acquisition is expected to complement the developer's existing presence in the suburb and create additional development opportunities. The transaction highlights continued developer interest in well-connected suburban micro-markets, where demand for integrated residential projects and premium housing remains strong.Read more

28 Jul 2026

An IndiGo flight travelling from Dubai to Mumbai made a precautionary emergency landing at Rajkot International Airport after suspected smoke was detected in the aircraft's cargo hold. The flight, carrying 194 passengers and crew members, landed safely after airport authorities declared an emergency. All passengers were evacuated without any injuries, while the airline's technical team began inspecting the aircraft to determine the source of the smoke. Officials confirmed there was no fire on board, and the incident was handled according to standard aviation safety procedures.Read more

28 Jul 2026

Housing and Urban Development Corporation Ltd (HUDCO) reported a 35% year-on-year increase in its net profit to INR 851 crore for the first quarter of FY27, supported by higher interest income and growth in total income. The state-owned housing and infrastructure financing company also announced its first interim dividend of INR 1.25 per equity share. During the quarter, HUDCO raised INR 2,140 crore through privately placed listed non-convertible debt securities, while its loan impairment provisions declined sharply under the expected credit loss framework, reflecting an improvement in its overall credit provisioning position.Read more

28 Jul 2026

Sport Clubs Company SCJSC has signed a land lease agreement to establish two new sports clubs in Khamis Mushait, marking another step in its network expansion. The contract is valued at SAR 22.8 million. The development is expected to strengthen the company's presence in the region by adding new fitness and sports facilities. The agreement aligns with the company's ongoing growth strategy as it continues to expand its footprint across Saudi Arabia to cater to rising demand for organised fitness and wellness services.Read more

28 Jul 2026

Realty developer Parsvnath has deposited INR 2.9 crore with the Supreme Court in a case involving a homebuyer who waited 13 years for possession of a flat. The deposit follows directions issued by the court while hearing the developer's plea seeking relief from restrictions imposed in connection with the matter. The case highlights continuing judicial scrutiny of prolonged delays in housing projects and reinforces the importance of timely delivery and compensation for affected homebuyers.Read more

28 Jul 2026

ChennaiProperties.com has launched a new integrated brand campaign, Chennai-na… ChennaiProperties.com Dhaan, aimed at strengthening its connection with homebuyers by celebrating the city's culture and identity. Instead of focusing on property prices or projects, the campaign highlights iconic elements associated with Chennai and links them to the home-buying journey. Rolled out across Chennai Metro stations, trains, FM radio, digital platforms and social media, the initiative reflects the platform's hyperlocal approach. The company said the campaign also reinforces its long-standing presence in helping people buy, sell and rent properties across Chennai.Read more

28 Jul 2026

Cube Highways Trust's INR 5,000 crore Infrastructure Investment Trust (InvIT) public issue witnessed strong investor demand, with the offer being subscribed 9.35 times by the close of bidding. Institutional investors led the response, while the trust had already secured investments from anchor and strategic investors before the issue opened. The public issue is entirely an Offer for Sale as the trust moves from a privately listed to a publicly listed InvIT. Following the allotment process, the units are expected to be listed on the BSE and NSE in early August.Read more

Pune News Desk

28 Jul 2026

Pune Police have launched an investigation into an alleged property fraud involving the use of forged documents purportedly issued by the Pune Metropolitan Region Development Authority (PMRDA) and the Pune Municipal Corporation (PMC). A case has been registered against 22 individuals for allegedly using fabricated approvals and records during property transactions. The investigation aims to uncover the extent of the fraud, identify those responsible for preparing the forged documents and strengthen safeguards against document-related malpractice in the real estate sector.Read more

28 Jul 2026

Amaravati Growth & Infrastructure Corporation Limited (AGICL) has awarded Larsen & Toubro (L&T) the Letter of Award (LOA) for the final-phase works of the Non-Gazetted Officers (NGO) Housing Towers in the Amaravati Government Complex. The contract, valued at INR 83.99 crore, covers the construction of sewage treatment plants, compound walls and other finishing works. L&T secured the project as the lowest (L1) bidder. The award marks another step towards completing the residential infrastructure developed for government employees in Amaravati, the greenfield capital city of Andhra Pradesh.Read more

28 Jul 2026

Seven Hills Realty Trust has closed a USD 24.3 million first mortgage loan to refinance Kimball on Main, a retail property in Park City, Utah. The asset is located in the city's historic Main Street shopping district and benefits from steady tourist activity, strong tenant demand and limited scope for new development due to zoning restrictions. The loan carries a three-year initial tenure with two one-year extension options, subject to conditions. The transaction also reflects the REIT's continued focus on financing income-generating commercial real estate in established markets.Read more

Mumbai News Desk

28 Jul 2026

Mumbai's Sewri-Worli Elevated Connector is expected to miss its earlier completion target, with the project now likely to open in early 2027. The revised timeline reflects delays in executing critical engineering works on one of the city's most significant road infrastructure projects. Once operational, the connector will provide a direct link between the Mumbai Trans Harbour Link (Atal Setu), the Bandra-Worli Sea Link and the Coastal Road, improving east-west connectivity and easing traffic movement across Mumbai.Read more

28 Jul 2026

Shriram Finance reported a 60% year-on-year rise in net profit for the first quarter of FY27, supported by strong growth in net interest income, higher other income and an improvement in net interest margin (NIM). The company attributed the margin expansion partly to the capital infusion following MUFG's stake acquisition, which helped lower its cost of funds. While loan disbursements and assets under management (AUM) continued to grow at a healthy pace, the lender flagged possible pressure on the rural economy due to below-normal rainfall in parts of central India, which could affect demand in some lending segments.Read more

28 Jul 2026

The Uttar Pradesh Housing and Development Board (UPHDB) has initiated the demolition process for 44 sealed properties in Meerut's Shastri Nagar Residential Scheme No. 7 in compliance with a Supreme Court order issued earlier this month. Property owners will receive 15-day notices before demolition begins if unauthorised structures are not removed voluntarily. The action forms part of a wider exercise covering 859 properties, including EWS and low-income housing, with further surveys planned across the city to identify additional violations.Read more

28 Jul 2026

A new report by the Resolution Foundation has urged the UK government to adopt a revised funding and policy approach to achieve its goal of delivering the largest council and social housing programme since the Second World War. The think tank has recommended directing the government's long-term housing funding exclusively towards social rent homes, easing social housing obligations for private developers during weak market conditions, and offering low-cost loans to housing associations. It said these measures could modestly increase the supply of low-rent homes, although significantly higher public investment would still be required to address the country's housing shortage.Read more

28 Jul 2026

The Central government has introduced a new authorisation framework for telecommunication infrastructure providers, making it mandatory for all telecom network data, logs and related information to be stored only within India. The rules apply to a wide range of infrastructure providers, including cloud-hosted telecom networks, mobile towers, satellite gateways and internet exchange points. The framework, issued under the Telecommunications Act, 2023, also strengthens compliance monitoring powers, introduces provisions for cloud-based telecom infrastructure and is expected to boost demand for domestic data centres while raising concerns over spectrum allocation for private satellite gateway operators.Read more

28 Jul 2026

Flipkart has partnered with the Department of Posts to strengthen its parcel delivery network across India by leveraging India Post's extensive presence of more than 1.6 lakh post offices. The collaboration will support last-mile deliveries for prepaid and cash-on-delivery orders in urban, semi-urban and rural areas, including remote locations. The partnership is expected to improve serviceability, delivery efficiency and market reach. It also reflects the growing role of India Post in supporting e-commerce logistics, following a similar agreement signed with Amazon India in the past.Read more

28 Jul 2026

Mahindra Lifespace Developers Ltd reported a strong start to FY27, with residential sales bookings more than doubling to INR 925 crore during the June quarter, supported by sustained housing demand. The company also recorded higher customer collections, expanded its project launches, and handed over 957 homes during the quarter. Alongside robust operational performance, Mahindra Lifespace posted significant growth in revenue and net profit. The developer continues to strengthen its residential portfolio while expanding its integrated developments and industrial clusters across multiple locations in India.Read more

28 Jul 2026

V-Mart Retail reported a 40.5% year-on-year increase in net profit for the first quarter of FY27, supported by improved operating performance and strong revenue growth. Revenue from operations rose 23% during the quarter, while total income also recorded healthy growth. The value retailer continued its expansion by opening 15 new stores and closing one underperforming outlet. With 591 stores spread across 50 lakh square feet of retail space, the company maintained its focus on strengthening its presence across India despite higher operating expenses.Read more

28 Jul 2026

The Union Budget 2026-27 places strong emphasis on infrastructure-led growth beyond India's metropolitan centres, with higher capital expenditure and a new City Economic Region (CER) framework aimed at accelerating development in Tier-2 and Tier-3 cities. While the Budget prioritises transport, urban infrastructure and governance reforms, it stops short of announcing fresh tax incentives for homebuyers or granting infrastructure status to the real estate sector. Here are five major developments that could shape the future of India's emerging urban centres.Read more

28 Jul 2026

Sri Lanka's stock market closed marginally higher after gains in information technology and real estate stocks lifted investor sentiment. The CSE All-Share Index advanced 0.24%, while SMB Finance PLC and Carson Cumberbatch PLC emerged as the top gainers. Despite the positive close, trading activity declined sharply, with both share volumes and market turnover falling from the previous session. Foreign investors remained net sellers, whereas domestic investors continued to support the market through net purchases, according to exchange data.Read more

28 Jul 2026

The Securities and Exchange Board of India (Sebi) has imposed penalties totalling INR 7.5 crore on 21 entities, including former Axis Mutual Fund fund manager Viresh Joshi, in a front-running case linked to trades executed between September 2021 and March 2022. The regulator has also barred the entities from accessing the securities market for up to seven years, directed the disgorgement of INR 30.56 crore along with 12 per cent annual interest, and concluded that the accused worked in coordination to misuse confidential trading information, compromising market integrity and investor confidence.Read more

28 Jul 2026

The Comptroller and Auditor General (CAG) has reported that the West Bengal Industrial Development Corporation Limited (WBIDCL) incurred a loss of INR 12.86 crore while allotting land to Instakart Services, the logistics arm of Flipkart, at Haringhata Industrial Park in Nadia district. The audit found that the corporation calculated the lease premium using the total acquired land area instead of the actual developable land, contrary to its own pricing policy. The report, tabled in the West Bengal Assembly, states that the pricing overlooked nearly 56 acres of water bodies that were unsuitable for industrial development. The state government defended the pricing methodology, but the auditor maintained that the allotment resulted in a financial shortfall for the state's industrial development agency.Read more

28 Jul 2026

The Enforcement Directorate (ED), Mumbai Zonal Office, has provisionally attached two immovable properties valued at INR 332.24 crore under the Prevention of Money Laundering Act (PMLA), 2002, in connection with its investigation involving M/s Rang Sharda Hotels Pvt. Ltd. and others. The attachment is part of the agency's ongoing probe into alleged financial irregularities and suspected proceeds of crime. The action is intended to preserve identified assets while the investigation and related legal proceedings continue under the provisions of the PMLA.Read more

28 Jul 2026

Digital Realty Trust has raised its full-year adjusted funds from operations (FFO) and revenue forecast after reporting strong second-quarter results, supported by sustained demand for data centres from cloud and artificial intelligence (AI) customers. The real estate investment trust (REIT) recorded higher revenue and earnings that exceeded market estimates, reflecting continued leasing momentum. The company is also expanding its footprint through strategic investments, including a USD 3.5 billion deal to increase its stake in data centres in Northern Virginia, one of the world's largest data centre markets.Read more

28 Jul 2026

REC Ltd reported a more than 6% year-on-year decline in its consolidated net profit for the first quarter of FY27, mainly due to lower interest income from loan assets. The state-owned finance company also recorded a fall in total income during the quarter compared to the corresponding period last year. Alongside its financial results, the company's board approved the first interim dividend for FY27 and announced the record and payment dates for both the interim dividend and the final dividend for FY26, providing clarity to shareholders on upcoming payouts.Read more

28 Jul 2026

The Maharashtra government has approved a five-star rating system for 623 public hospitals to evaluate and publicly display the quality of healthcare services across the state. Covering district, sub-district, rural, women's, general, trauma care and Employees' State Insurance hospitals, the initiative aims to improve service standards, increase transparency and strengthen accountability in government healthcare institutions. The ratings are expected to help patients make informed choices while encouraging hospitals to continuously enhance the quality of medical care.Read more

28 Jul 2026

Mumbai is set to develop India's first travelator-equipped skywalk integrating Metro, Monorail and suburban railway services into a single pedestrian corridor. The project aims to improve last-mile connectivity, reduce interchange time and provide safer, weather-protected movement for commuters between major transit systems. By creating a seamless multimodal transport link, the initiative is expected to enhance passenger convenience, encourage greater use of public transport and support Mumbai's broader urban mobility and infrastructure development goals.Read more

28 Jul 2026

Knowledge Realty Trust has reported strong operational and financial performance following its initial public offering, with revenue increasing by more than 16% and both EBITDA and net operating income (NOI) rising 18%. The office real estate investment trust (REIT) continues to maintain 92% occupancy across its portfolio, while advancing 2.6 million sq ft of developments. The REIT also retains a conservative leverage level of 18%, providing capacity for future acquisitions as demand for Grade A office assets remains resilient.Read more

28 Jul 2026

The Odisha Real Estate Appellate Tribunal (REAT) has dismissed an appeal filed by a promoter challenging an order issued by the Odisha Real Estate Regulatory Authority (ORERA), reinforcing the authority's decision in the matter. The tribunal found no grounds to interfere with the regulator's ruling, underscoring the legal obligation of promoters to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016. The decision highlights the appellate body's role in upholding regulatory oversight and strengthening accountability within Odisha's real estate sector.Read more

28 Jul 2026

Prism, the parent company of OYO, has begun investor roadshows for its proposed INR 6,650 crore initial public offering (IPO), with discussions largely centred on its acquisition-led growth strategy. An analysis of the company's financials shows that its two largest acquisitions,G6 Hospitality in the US and Europe's OVH currently contribute only about 20% of its EBITDA, while nearly 80% has been generated through operational improvements after integration. The company has also reported strong growth in bookings, profitability and international operations, particularly in the US and Europe, ahead of its planned market debut.Read more

28 Jul 2026

Engineers India Ltd (EIL) has signed a memorandum of understanding (MoU) with the Directorate General of Maritime Administration (DGMA) to provide engineering consultancy, technical advisory and project management services for maritime infrastructure projects across India. The partnership will focus on project planning, feasibility studies, technology integration, infrastructure development and capacity enhancement. It also aligns with the government's efforts to modernise the country's maritime sector through improved efficiency, sustainable practices and advanced technologies. The collaboration brings together EIL's engineering expertise and DGMA's regulatory role to support long-term maritime infrastructure development.Read more

28 Jul 2026

Silverstorm Parks and Resorts has opened its INR 82.43 crore initial public offering (IPO) for public subscription after raising nearly INR 21.97 crore from anchor investors. The Kerala-based leisure and amusement park operator plans to use the proceeds to develop a new snow park and family entertainment centre in Lucknow, upgrade its existing Athirappilly theme park, repay debt and meet general corporate requirements. The company, which operates entertainment destinations in Kerala and Jharkhand, reported strong financial growth in FY26 and is expected to list on the BSE SME platform later this month.Read more

28 Jul 2026

Construction of Jaipur Metro Phase 2 has commenced after Rajasthan Chief Minister Bhajanlal Sharma launched work on the INR 13,370 crore project. The 41-km metro corridor will feature 36 stations, connecting Prahladpura in Sitapura to Todi Mod across Jaipur. The route will improve access to the airport, railway stations, hospitals, educational institutions and industrial areas. Scheduled for completion by September 2031, the project is expected to expand the city's urban transport network and improve connectivity across key residential and commercial zones.Read more

28 Jul 2026

Grovy India Limited, a BSE-listed real estate developer headquartered in South Delhi, reported a 74% year-on-year increase in net profit to INR 1.9 crore for the first quarter of FY27, supported by strong project execution and higher revenue. Total revenue surged 233% year-on-year to INR 27.58 crore, while sequential performance also improved significantly. During the quarter, the company acquired three premium residential projects covering around 50,000 sq. ft. in South Delhi and continued work on 10 ongoing developments spanning 1.83 lakh sq. ft. Looking ahead, the developer plans to expand its annual project pipeline, supported by its collaboration with Golden Growth Fund, and is targeting a future listing on the National Stock Exchange, subject to regulatory approvals and market conditions.Read more

28 Jul 2026

Equities have surpassed real estate as the largest contributor to US household wealth for the first time since World War II, according to a Goldman Sachs report. The investment bank said strong stock market gains, particularly since the global financial crisis, have significantly increased household exposure to equities, with technology stocks playing a major role. While this shift has supported consumer spending through rising wealth, Goldman cautioned that higher equity exposure also increases the risk of financial losses if markets witness a sharp correction amid elevated valuations and economic uncertainty.Read more

28 Jul 2026

The Jammu and Kashmir government has approved an INR 15.22 crore project to upgrade the Kathua Grid Station to strengthen the region's power transmission network. The project includes increasing the station's capacity and carrying out related infrastructure works to meet rising electricity demand. The upgrade is expected to improve transmission reliability, reduce overloading, and ensure a more stable electricity supply for Kathua and nearby areas. The initiative is part of the government's ongoing efforts to modernise the Union Territory's power infrastructure and support economic growth through better electricity services.Read more

28 Jul 2026

Juniper Green Energy will open its INR 1,800 crore initial public offering (IPO) for public subscription on July 30, with the issue closing on August 3. The offering consists entirely of a fresh issue of equity shares and does not include an offer-for-sale component. The company plans to use the proceeds primarily to reduce debt at both the parent and subsidiary levels, while also supporting general corporate requirements. Backed by Singapore-based AT Capital Group, Juniper Green Energy has been expanding its renewable energy portfolio, including utility-scale solar, wind, hybrid and battery energy storage projects across India.Read more

28 Jul 2026

Finance Minister Nirmala Sitharaman has asked Income Tax officials to ensure a taxpayer-friendly approach for honest taxpayers while taking strict action against deliberate tax evasion. Speaking at the 167th Income Tax Day celebrations, she outlined five priorities for responsive tax governance and highlighted the role of the newly implemented Income Tax Act, 2025 in simplifying tax laws. She also stressed reducing tax litigation, improving refund processing, strengthening tax certainty, and using technology to deliver faster and more efficient taxpayer services as India's economy continues to expand.Read more