BUSINESS
Malabar Hill regains its marquee address status as supply quality, infrastructure improve
In recent years, luxury homebuyers looked elsewhere in south Mumbai, and even in the suburbs, as the area lost some of its sheen due to its ageing supply, falling behind in terms of quality.
BUSINESS
InterGlobe and Accor deepen hotel ties, partner with Treebo for third-largest hospitality platform
The companies said that they plan to have 300 hotels under the platform by 2030 and announced a partnership with budget hotel network Treebo
BUSINESS
Tribeca launches rental housing platform, co-founder says can consider residential REIT
Tribeca has partnered with its sister firm Housr, a dedicated co-living platform, as well as with the developer Starwing group, for the first project under the platform at the Marol neighbourhood in Andheri (East), Mumbai.
BUSINESS
After Macrotech alleges fraud in trademark usage, House of Abhinandan Lodha approaches cops, seeks probe
Macrotech's filing earlier this month gave a fresh twist to the ongoing feud between brothers Abhishek Lodha's Macrotech and Abhinandan Lodha's HoABL. Macrotech sued HoABL for violations for intellectual property rights and alleged unauthorised use of the "Lodha" brand
BUSINESS
NaBFID expands warehousing presence, extends Rs 2,300-crore loan to Welspun One's JNPA project
The project, coming up in the special economic zone adjacent to the Jawaharlal Nehru Port, will be the largest single-location warehousing project in the country
BUSINESS
As Trump slaps 25% tariffs on auto parts, industry urges mitigation measures
A number of Indian auto component makers have significant exposure to the US. Their customers include Ford, General Motors, Stellantis, Tesla, and others.
BUSINESS
Adani, Birla enter wires and cables market, but cracking distribution holds the key
The share of branded players increased to around 74 percent in FY23 from 61 percent in FY14 and is expected to rise to 80 percent by FY25, according to Motilal Oswal Financial Services.
BUSINESS
Current paints slowdown part of a cycle, slow sales more pronounced in cities: Birla Opus
Grasim Industries-owned Birla Opus paints' CEO Rakshit Hargave said that the business aims to finish FY25 with a high single-digit market share in the decorative paints business, while its first year in the business has turned out "more or less" on how it was envisaged
BUSINESS
Kalpesh Mehta, the man behind Trump Towers in India, sees early bet on luxury real estate pay off
With deep ties to the Trump family, Kalpesh Mehta built Tribeca Developers into India's leading luxury brand licensor—expanding its Trump-branded footprint as the real estate boom continues.
BUSINESS
Welspun One's promoter stake sale enters bidding phase; PAG, Kotak, others in the race
The bids are in the range of $100 million-$120 million. It is not clear if the promoters will completely exit Welspun One or retain a stake
BUSINESS
Analysts mixed on steel duties; EBITDA/tonne may rise, but price hike window limited
Analysts said that as a result of the duties, which are still to be approved by the Union Ministry of Commerce, the earnings before interest, taxes, depreciation, and amortisation (EBITDA) per tonne for steel, a key competitive metric, may increase for steelmakers. However, they also noted that prices had already been increasing for various steel products in anticipation of DGTR's safeguard duty investigation wrapping up
BUSINESS
Mumbai's tallest tower to get its twin, developer MICL says new housing stock slowing sales
MICL's Managing Director Manan Shah said in an interaction that due to an abundance of choice in Mumbai's luxury real estate market, the timeline to convert a customer into a buyer has become longer although sales velocity remains high in key localities
BUSINESS
Trump Organization launches its first commercial real estate project in India
Tribeca is the exclusive licensor of the Trump brand in India, in collaboration with Donald Trump's The Trump Organisation.
BUSINESS
Mumbai housing redevelopment: A Rs 3 lakh crore opportunity hobbled by small land parcels, long gestation periods
Only a handful of the nearly 700 definitive agreements signed for redevelopment involve relatively large land parcels, narrowing developers' opportunities for a large free-sale component. A convoluted process and potential litigation may lengthen the wait for new homes.
BUSINESS
Adani Realty makes steady gains in Mumbai's redevelopment market
With the latest redevelopment rights in Motilal Nagar, Adani Realty continues to expand its presence in Mumbai’s real estate market. Alongside projects like Dharavi and Bandra Reclamation, the company is taking on large-scale redevelopment, focusing on urban transformation and integration within the city's evolving infrastructure landscape
BUSINESS
Cautious but confident, says DLF management as it prepares for Mumbai re-entry
DLF has partnered with the Trident Group for setting up what it calls a 'premium' residential project through a slum redevelopment project in Andheri (West). The first phase of the project is expected to have around 9 lakh square feet of saleable area.
BUSINESS
NDR InvIT buys 900,000 sq ft warehousing space in Surat in cash-units transaction
The acquisition is part of the Rs 706-crore investment plan to acquire fully leased warehousing assets in Surat, Pune, Bengaluru and Hyderabad
BUSINESS
Plan to increase number of India licensees to 50: World Trade Centers Association
As we speak, the WTCA has granted more than 20 licences to a range of developers in India, primarily to develop offices. But the organisation hopes to change that.
BUSINESS
Abhishek and Abhinandan Lodha’s mother writes to both sons, asks them to resolve differences
Abhishek and Abhinandan Lodha are currently embroiled in a legal dispute regarding the Lodha brand. The matter is currently in mediation, after the elder Lodha filed a brand infringement suit against his younger brother over an "infringement" in the usage of the 'Lodha' brand.
BUSINESS
Prestige Estates sees inventory buildup in luxury housing, calls for more mid-income, premium supply
Market observers have warned of a slowdown in the luxury housing segment, particularly in the above-Rs 4 crore category, with registration data showing a decline in sales pace for marquee projects in markets like Mumbai.
BUSINESS
ICICI Prudential AMC fund buys office space in Pune for Rs 177 crore, leases it back
The investment was made by ICICI Prudential Office Yield Optimiser Fund, a category-II alternative investment fund, through a special purpose vehicle that it holds shares in. It leased back the property at a starting rate of Rs 77.50 per square foot per month, with a 5 percent escalation every year built in over the five year tenure, which is locked in
BUSINESS
Eyeing revenue of Rs 19,000 cr from new phase of investment, says Surendra Hiranandani
House of Hiranandani is investing Rs 12,500 crore into project launches, chiefly in the Mumbai metropolitan region, to "deepen its presence" in the market. This includes luxury residential projects, as well as commercial offerings
BUSINESS
Setback for Oberoi Realty as SC stays Sahara's Versova land development over environmental, valuation concerns
The court also ordered that the Rs 1,000 crore that Oberoi Realty had deposited with the court due to its interest in the project should be returned with interest
BUSINESS
Have not seen any slowdown in real estate market, good offtake in projects across categories: Rustomjee MD
Boman Irani, the managing director, said that a slowdown in real estate sales may trouble non-capitalised developers as some would-be buyers may defer purchase decisions, while adding that inventory in markets such as the Mumbai Metropolitan Region, India's largest housing market, remains at comfortable levels.
