BUSINESS
DLF gets RERA approval for Andheri project; monsoon may delay launch
The project has been named The Westpark, according to documents submitted by Pegeen Builders and Developers, a wholly owned subsidiary of DLF.
BUSINESS
JP Morgan pre-leases 1.16 lakh sq ft office space in Mumbai's BKC for Rs 6.9 crore/month
The banking giant leased the space at an upcoming development of Japanese firm Sumitomo Realty's India unit
BUSINESS
Current real estate cycle still has 3–4 years left: Raymond Realty CEO
The real estate arm of Raymond Group reported a topline of around Rs 2,300 crore in FY25 — a growth of over 40 percent year-on-year — while its profit before tax stood at around Rs 372 crore. The company’s management has guided for annual growth of around 20 percent in pre-sales bookings over the next few years.
BUSINESS
IPO-bound Kalpataru bets on premium segment to drive sales in a plateauing market
The company’s management noted that any perceived slowdown at the upper end of the market may be due to above-market pricing and landmark deals, which have raised expectations among some developers.
BUSINESS
JSW Paints may have bought itself a lifeline with AkzoNobel India stake purchase
JSW Paints, which has failed to capture a meaningful market share in decorative paints business, is reported to have emerged as the winning bidder for AkzoNobel NV's stake in its India subsidiary, AkzoNobel India, for around Rs 9,000 crore
BUSINESS
MHADA floats Kamathipura cluster redevelopment tender; 6 million sq ft may be available for free sale
The Kamathipura cluster redevelopment was stuck due to the large number of tenants and private landowners, and the delay in finalising a compensation structure.
COMPANIES
NDR Group to add 4-5 million sq ft to InvIT, tap new markets
The company plans to do it through a right of first offer. It is targeting markets that are seeing rising demand, such as Odisha and the Northeast.
BUSINESS
Ashwin Sheth group partners with PAG to acquire 50% stake in stressed One Marina project
The $65 million funding from PAG enables construction progress, as well as facilitates the exit of one of the lenders to the project
BUSINESS
Raymond's plan to list realty businesses in July-August unchanged: Sources
In December 2024, Raymond Chairman Gautam Singhania told Moneycontrol that the realty operations may be listed separately in August 2024, after the demerger from the parent.
BUSINESS
Hindustan Zinc looking at rare earth opportunity; mining auction process needs reform, says CEO
Arun Misra said that investments in the rare earths space will come from the Vedanta Group's planned $20 billion capital expenditure across its metals, mining, and hydrocarbons businesses over the next five to six years.
BUSINESS
Aditya Birla Real Estate subsidiary secures Rs 420 crore funding from World Bank-backed IFC for two projects
The funding will be allotted to the projects, in Pune and Thane, through two special purpose vehicles, Birla Estates said in a release.
BUSINESS
Repo rate cuts may drive HNI investors towards Real Estate AIFs, say experts
AIFs are privately pooled funds that invest in non-traditional assets like private equity, hedge funds, and real estate. They offer niche, high-risk, high-reward opportunities suited for experienced investors.
BUSINESS
RBI's 50 bps rate cut may finally give an impetus to affordable housing, say experts
The central bank started its rate-cutting cycle from its February policy meeting, when the repo rate stood at 6.5 percent. However, the cuts did not translate into an immediate impact on EMIs
BUSINESS
Apple India leases space in Borivali mall for second Mumbai store
The electronics giant will pay a starting rent of Rs 17.35 lakh a month, translating to Rs 138 per square foot a month
BUSINESS
How China’s grip on rare earth magnets hurts Indian manufacturing — and the way out
In FY24, India imported around 460 tonne of rare earth magnets, almost all from Chinese manufacturers, according to industry sources. While figures for FY25 are awaited, imports are expected to rise to around 700 tonne.
BUSINESS
‘Star-studded’ Sri Lotus Developers to hit the IPO Street
Under its Lotus Developers brand, the company has completed three projects, is in the process of building six more, and has seven projects in the pipeline, including both residential and commercial projects
BUSINESS
Actor Jeetendra Kapoor and family sell Andheri plot for Rs 855 crore to NTT Global Data Centers
The deal includes two contiguous land parcels measuring a total of 9,664.68 sq metres, or around 2.4 acres. The land parcel currently houses Balaji IT Park, which includes three constructed buildings.
BUSINESS
Trump's 50% steel tariff to have limited direct impact but China dumping a worry: Analysts
Trump has signed an order that has from June 4 raised tariffs on imported steel and aluminium to 50 percent, up from the 25 percent rate introduced in March
BUSINESS
Tesla India leases 24,000 sq ft warehousing space in Mumbai's Kurla at monthly rent of Rs 37 lakh
Tesla India lease period runs for five years starting April 20, 2025, and the rent is expected to increase by 5 percent per annum
BUSINESS
Adani Group seen eyeing Diwali timeline for first phase of Dharavi free-sale launch
Initial launches to focus on affordable-to-mid segment housing; premium offerings likely in later phases near BKC.
BUSINESS
US tax bill won’t hurt solar in medium term, says Waaree Energies CEO
The so-called One Big Beautiful Bill Act, passed by the US House of Representatives, eliminates key tax credits introduced under earlier legislation such as the Inflation Reduction Act, and also accelerates the phase-down of incentives. Despite this, Waaree’s management remains confident about its prospects in the US, citing continued investments in artificial intelligence and its manufacturing base in Texas.
BUSINESS
Kanakia inks deal with Hines, Mitsubishi, Sumitomo for 1.5 million sq ft BKC project
The project is expected to come up on a three acre land parcel in BKC, now the city's main financial district, with an estimated investment of around Rs 3,000 crore.
BUSINESS
Hiranandani Group firms up redevelopment play, signs up two societies in Bandra and Versova: Sources
The Niranjan Hiranandani-led firm is expected to remain focused on the township segment, with any redevelopment projects likely to be opportunistic in nature.
BUSINESS
USV Chairperson Leena Gandhi Tewari buys Worli flats for Rs 639 crore; Godrej’s Tanya Dubash also strikes major property deal
At Rs 2.83 lakh per square foot, excluding stamp duty and registration charges, observers said that Leena Gandhi Tewari deal has become the most expensive in terms of home prices
