ICRA expects the operating profitability of Indian cement companies to moderate in FY27 due to higher power, fuel, freight and packaging costs amid geopolitical tensions in West Asia. Operating profit per tonne is projected to decline to ₹820-870 in FY27 from an estimated ₹950-980 in FY26, though partial price hikes may cushion the impact. Source link...
Financial software firm Intuit has secured a significant office space in Bengaluru. The deal involves over 630,000 square feet across 11 floors. This transaction highlights strong activity in India's office leasing market. Global Capability Centres are expanding their teams for engineering and AI. Intuit's expansion underscores its commitment to its India development centre. Source link...
UP-RERA has approved 13 real estate projects across eight districts of Uttar Pradesh with a cumulative investment of ₹3,052.73 crore and 4,772 proposed residential and commercial units. The authority has also asked homebuyers and complainants to use its online portal to verify project details, track complaint status and check recovery certificate proceedings before making purchase or legal...
Open plots in Thorrur and Bahadurpally saw strong demand at a recent auction, with prices reaching Rs 45,500 and Rs 40,500 per square yard respectively. The Rajiv Swagruha Corporation auctioned 85 plots, attracting 150 bidders. Thorrur's proximity to the ORR and Adibatla IT corridor drove high bids, while Kurmalguda's closeness to Shamshabad airport also boosted prices. Source link...
In a surprising turn of events, Ambuja Cements, part of the Adani Group, has put in a bid of Rs 580 crore for Jaypee Cement. However, this bid falls short of the company's liquidation value, prompting lenders to engage in discussions with Ambuja for a more favorable offer. Source link...
Noida Authority is launching 35 plots across industrial, institutional, commercial, and hotel categories, with prices ranging from Rs 65 lakh to Rs 758 crore. This move anticipates increased investor interest driven by the upcoming Noida International Airport, scheduled to open on June 15. The plot scheme opens on May 19. Source link...
Delhi Development Authority has identified 14 land parcels along metro corridors for affordable housing and mixed-use development. These sites, totaling over 3.6 lakh square meters, aim to promote Transit-Oriented Development (TOD) and curb outward migration. A portal will be created for developers to submit proposals under the new policy. Source link...
Godrej family scion Tanya Dubash has purchased two sea-facing luxury apartments in Mumbai's Worli for over Rs 294 crore, making it one of the country's most expensive residential deals. The ultra-luxury tower Naman Xana has attracted other high-profile buyers, highlighting continued demand for premium Mumbai residences as legacy assets. Source link...
Uber India Systems has secured a massive office space in Hyderabad. The company will occupy over 9 lakh square feet for a decade. This deal is valued at nearly Rs 839 crore. It highlights Uber's growing commitment to India. Hyderabad continues to attract global companies for technology and operations. Source link...
Haryana has launched an auto-mode mutation system to combat property fraud, particularly preventing single plots from being sold multiple times. This online system automatically processes mutations upon property registration, eliminating the need for buyers to visit patwar offices and significantly reducing pending cases across the state. Source link...