REAL-ESTATE
MHADA slashes prices of some units under ongoing lottery, extends registration deadline
The costliest apartment in the lottery, located in Tardeo, earlier priced at more than Rs 7.5 crore, will now be priced at Rs 6.8 crore, while an unit in Vikhroli, earlier priced at around Rs 38 lakh, will now be available at around Rs 29 lakh.
BUSINESS
Kangana Ranaut buys office space in Andheri for Rs 1.56 crore
The purchase was registered on August 23, with a stamp duty of Rs 9,37,500 being paid.
BUSINESS
Tribeca Developers planning up to 5 Trump Tower projects in India
Tribeca is developing Trump Tower residential properties in Gurugram and Kolkata. The Trump brand was earlier licensed to Panchshil Realty and Lodha, which developed Trump Towers in Pune and Mumbai
BUSINESS
Smartworks leases 6 lakh sq ft office space in Pune for Rs 4.48 cr per month
The starting rent of Rs 73 per sq ft per month has a 4.77 percent escalation built in every annum.
BUSINESS
Mumbai: Actor Manoj Bajpayee sells Mahalaxmi property for Rs 9 crore
The actor had purchased the apartment, located in the Minerva residential tower, in 2013 with his wife Shabana for Rs 6.40 crore.
BUSINESS
JSW Cement aims to double cement grinding capacity to nearly 41 MTPA
The board-approved expansions include six greenfield units in Rajasthan, Punjab, Madhya Pradesh, Uttar Pradesh, Odisha, as well as another greenfield unit in Dolvi, Maharashtra, and a brownfield expansion in Vijayanagar, Karnataka.
BUSINESS
Raymond Realty aims to maintain 20% growth rate in bookings, profit each year, says CEO Sahni
Redevelopment projects would remain key drivers for Raymond Realty, constituting 30% of its new Mumbai projects, said its CEO Harmohan Sahni.
BUSINESS
New mining tax could influence metal prices, consumer costs, PSUs to feel the pinch
The ruling directly impacts companies having large-scale mining operations across mineral-rich states like Jharkhand, Odisha, and Chhattisgarh, which means public sector entities like Coal India, Steel Authority of India (SAIL), National Mineral Development Corp (NMDC) and Tata Steel could face higher payouts due to their extensive and long-standing mining operations.
BUSINESS
Plan to have 5,000 homes under lottery over the next year in Mumbai, says MHADA CEO
Additionally, the tender for the Kamathipura cluster redevelopment project is expected to be floated later in August, according to Sanjeev Jaiswal.
BUSINESS
Grasim slips into red in Q1, posts Rs 52-crore loss due to paints investment, weak fibre demand
Grasim Q1 results: Standalone revenue came in at Rs 6,894 crore, up 10.5 percent from the previous year
BUSINESS
Tata Motors banks on launch of FAME-III scheme, festive season to boost EV sales
FAME-III scheme should be announced at the earliest, says Vivek Srivatsa, chief commercial officer of Tata Passenger Electric Mobility Ltd, the EV arm of Tata Motors.
BUSINESS
LTCG Tax Rollback: Major relief for middle-class homeowners, property prices may be impacted
This comes after a major backlash from the real estate sector, including the middle-class homeowners, for higher tax liability without the indexation benefit to factor in the market inflation.
BUSINESS
Rustomjee to focus on Rs 1-3 crore ticket size for residential launches, says MD Boman Irani
Despite weakness on some counts, Irani sounded positive on the Q1FY25 financial results, particularly pre-sales during the quarter. The company's collections during the quarter were slightly lower in Q1 year-on-year.
BUSINESS
1,700 Tata Steel UK employees have opted for voluntary redundancy scheme, says MD
In an interaction with Moneycontrol, Tata Steel's MD and CEO said that the company and the government are approaching negotiations in a "collaborative" fashion.
BUSINESS
Tata Steel expects Netherlands govt support package to be larger than UK's, says MD Narendran
Tata Steel's MD and CEO T V Narendran said that the company aims to conclude negotiations with the Dutch government by the end of the year.
BUSINESS
Tata Steel Q1: Net profit rises 51% to Rs 960 crore, misses estimates; recovery in Netherlands negated by India and UK struggles
The firm's revenue from operations declined 8 percent to Rs 54,771 crore in Q1FY25 as against Rs 59,490 crore in Q1FY24. Sluggish steel prices remained a drag on the balance sheet.
BUSINESS
Higher costs and price wars led to India Cements sale to UltraTech: N. Srinivasan
Srinivasan assured employees that despite the change in ownership to UltraTech, led by Aditya Birla Group Chairman Kumar Mangalam Birla, it would be business as usual for them.
BUSINESS
It's battleground South India as UltraTech announces acquisition of India Cements
Southern India has been a challenging market for large cement makers, including UltraTech, Ambuja Cements, and ACC. However, consolidation is expected to intensify competition among the major players, led by UltraTech and Adani Cement
BUSINESS
New realty LTCG regime may dampen prices, demand; return of cash may be limited: Experts
The removal of indexation may not only impact secondary transactions but also primary ones. They may also trigger a decline in demand for homes in the affordable or mid-range ticket sizes.
BUSINESS
FM removes indexation benefit for property sales, reduces long-term capital gains tax in Budget
Finance Minister Nirmala Sitharaman announced the removal of the indexation benefits for the sale of property in the Union Budget,Owing to the removal of indexation, property sellers will not be able to inflate the sale price of the property
BUSINESS
Encourage states to lower stamp duty, including property purchases by women: Finance Minister
The Union government has long flagged high stamp duty rates as the reason for the high home prices, relatively low rates of property ownership, as well as the rampant "black money" dealings in the sector.
BUSINESS
UltraTech's 23% stake in India Cements seen as promising market investment: CFO Atul Daga
UltraTech Cement's acquisition of a 23 percent stake in India Cements is a strategic non-controlling financial investment, expected to capitalize on market conditions, according to CFO Atul Daga.
BUSINESS
UltraTech Q1 Results: Net profit flat on-year at Rs 1,695 crore, misses estimates; shares fall
UltraTech Cement fiscal first quarter net profit missed street estimates, remaining flattish on-year. Net profit was at Rs 1,695 crore, while revenue rose about 2 percent to Rs 18,069 crore.
BUSINESS
EXCLUSIVE: Embassy REIT may sell Quadron office campus in Pune, expects more than Rs 1,200 cr
Embassy Quadron a leasable area of 1.9 million sq ft. Marketing for the deal starts this month, with a sale expected next year.
