Elan Group has repaid a INR 875 crore debt to Asia Pragati Strategic Investment Fund (PAG) ahead of schedule, citing robust internal cash flows driven by strong housing demand. The Gurugram-based firm confirmed the early settlement, originally availed in 2022, in a statement released on July 25, 2025. Sandeep Agarwal, Group CFO, highlighted the move as a major milestone, expected to reduce interest costs and boost financial efficiency. Elan currently manages 15 projects across Gurugram and New Delhi, covering 25 million sq ft. Known for commercial developments, the company recently forayed into luxury housing with a residential project on Dwarka Expressway.Read more

Office space leasing in Delhi-NCR more than doubled during the April-June quarter, reaching 2.62 million square feet, driven by strong corporate demand in Gurugram and Noida. This contributed to a 10 percent rise in overall office space absorption across India's top seven markets, totaling 18.79 million square feet, according to Vestian's recent report. Southern cities like Bengaluru, Hyderabad, and Chennai led this growth, accounting for 59 percent of the demand. This upward trend is expected to continue as more enterprises return to office operations and new Grade A projects come online in the second half of the year, with total absorption projected to surpass 75 million square feet by year-end.Read more

The Phoenix Mills Ltd has announced it will acquire the remaining 49% stake in Island Star Mall Developers Pvt Ltd (ISMDPL) from the Canada Pension Plan Investment Board (CPP Investments) for INR 5,450 crore. With this deal, Phoenix Mills' stake in ISMDPL will increase from 51% to 100%, thereby giving it complete ownership of the JV. The transaction, approved by the company's board, aligns with its long-term strategy to consolidate high-performing assets and ensure sustained growth. The payment will be made in four tranches over a span of three years.Read more

PwC India has opened a new 125,000 sq ft office in DLF Downtown 4, Gurugram, further strengthening its presence in the National Capital Region. This marks the firm's sixth office in the NCR and increases its regional capacity to nearly 8,000 professionals. The new facility, which accommodates over 1,200 employees, features open workspaces, collaboration zones, tech-enabled meeting rooms, innovation hubs, and dedicated client areas to support hybrid and flexible work. This move comes in response to growing client demand and the availability of a strong local talent pool. PwC also plans to open two more offices in Mumbai by the end of the year.Read more

Bajaj Housing Finance recorded a 21% year-on-year increase in net profit, reaching INR 583 crore during the first quarter of FY26, supported by healthy loan demand and strong operational performance. Its total income rose 18% to INR 2,618 crore, and the loan book expanded nearly 24% to INR 1.20 lakh crore. Despite solid fundamentals, the company marginally revised its full-year loan book growth estimate downward, citing intensified competition and softer demand in the property market. Asset quality and liquidity buffers remained stable, and capital adequacy continued to stay well above regulatory norms.Read more

TDI Infrastructure Ltd has cleared its entire debt of INR 2,000 crore, marking a major financial milestone in its corporate journey. The company, without resorting to any restructuring or waivers, is now fully debt-free and is shifting focus towards township and commercial property development. It is preparing to reintroduce its flagship project, TDI City in Kundli, and is planning a fresh foray into Ludhiana's real estate market. With a solid delivery track record across 2,500+ acres, TDI is now realigning for growth.Read more

Flexible workspace provider Innov8 has announced plans to add 11,000 new seats across major Indian cities in FY26, targeting commercial hubs in the western and southern regions. Mumbai and Pune will receive over 5,500 seats, while 4,500+ seats will be added in Hyderabad, Bangalore, and Chennai. The remainder will be allocated to NCR cities. This move follows a successful fundraising round and is backed by robust occupancy levels and growing enterprise demand. Innov8 also aims to expand its managed office footprint by 4 million sq ft over the next three years.Read more

Ashiana Housing Ltd has reported an 83% surge in Q1 FY2025 sales bookings, reaching INR 430.97 crore, up from INR 235.32 crore in the same period last year. The company sold 5.95 lakh sq ft of residential space during April-June, compared to 4.42 lakh sq ft in Q1 FY2024. Known for its group housing projects and leadership in senior living developments, Ashiana continues to benefit from strong market demand and buyer confidence. This robust performance follows FY2024-25's total sales of INR 1,936.75 crore, highlighting sustained momentum for the Delhi-based developer and reflecting broader optimism in India's residential real estate market.Read more

Goa's solar industry is set for a major leap, with projected growth in business turnover from INR 37 crore to INR 325 crore by 2027, backed by strong policy support and central subsidies. The Solar Power Association of Goa (SPAG) anticipates a sharp rise in solar capacity, consumer investments, and employment in the sector. Thanks to initiatives like the PM Surya Ghar Scheme and Goa's own solar policy, the state expects its solar footprint to expand to 65 MW in the next two years, significantly contributing to the green energy momentum.Read more

Khushi Advertising has partnered with Nexus Ahmedabad One Mall to launch VERTIQ, a towering vertical-format digital screen under its KHUSHI D3X DOOH portfolio. Located at Gujarat's largest mall, the screen stands 10.5 ft - 31.5 ft and offers high-resolution, high-refresh-rate LED display capabilities, fully supporting 3D and anamorphic content. Designed to run 10-second ads in a 2-minute loop, VERTIQ enables brands to connect with over 900,000 monthly mall visitors through engaging, high-impact visuals. The screen enhances retail visibility and enriches the mall's experiential environment for both brands and consumers.Read more

Ladakh Lieutenant Governor Kavinder Gupta recently interacted with representatives from the People of India Chamber of Commerce and Industry (PIOCCI) in New Delhi to discuss strategies for boosting foreign investments and economic development in the Union Territory. During the meeting, PIOCCI revealed its plans to organize a global investment summit specifically focused on Ladakh. Having recently assumed office on July 18, LG Gupta emphasized Ladakh's immense potential across sectors like eco-tourism, renewable energy, and agro-based industries, assuring potential investors of a favorable business environment backed by government incentives and support for socio-economic transformation.Read more

Empower Finance Inc., a U.S.-based fintech firm, has acquired Indian digital lending platform NIRA, aiming to scale its impact in emerging markets. The move strengthens Empower's foothold in India by leveraging NIRA's local expertise and customer base, especially in underserved Tier 3 cities and rural areas. NIRA, founded in 2018, has disbursed over INR 1,600 crore (approximately USD 200 million) in personal loans and turned profitable in 2023. Empower's global operations already span the U.S., Mexico, and the Philippines, serving over 5 million users. The acquisition will help both firms accelerate innovation and expand financial access to India's working-class population.Read more

Croma, the electronics and consumer durables retail arm of Infiniti Retail Ltd under the Tata Group, has expanded its retail network with the opening of a new outlet in Tambaram West, Chennai. This becomes the brand's 22nd store in the city and 38th in Tamil Nadu. With increasing demand for premium electronics in the region, the move reinforces Croma's commitment to strengthening its presence in high-growth urban pockets. The newly launched store spans 6,540 sq ft and is part of the RR Shopping Complex on Mudichur Road.Read more

Renowned filmmaker Subhash Ghai, in partnership with Crest Ventures and Mukta Arts, has leased out a commercial office space in Andheri West for a monthly rent of INR 3.38 lakh. The 7,500 sq ft office, part of the Crest Mukta development, has been let to Riya Healthcare for five years. The lease includes a 5% annual rent escalation and a total expected rental income of around INR 2.24 crore over the term. The agreement was formally registered earlier this week with a security deposit of INR 24.66 lakh.Read more

IndiaMART InterMESH announced a robust financial performance for the first quarter of fiscal year 2025-26, with its standalone net profit surging by 35 percent year-on-year to INR 154 crore. This positive result, coupled with a 12 percent growth in consolidated revenue from operations, is likely to keep IndiaMART shares in focus. The company also demonstrated healthy increases in customer collections and deferred revenue, driven by operational efficiencies including GenAI integration.Read more

Retail space leasing activity across eight major Indian cities witnessed a 6% year-on-year decline in the April to June quarter, clocking 2.24 million sq. ft. as per Cushman & Wakefield. While high-street locations led with 55% of the share, shopping malls contributed 45%. Cities like Ahmedabad, Bengaluru, and Delhi-NCR recorded steep drops, while Mumbai, Pune, and Chennai showed notable growth. The vacancy in premium malls is easing, and a robust pipeline of around 4 million sq. ft. of Grade A retail space is expected to enter the market in the second half of the year.Read more

Nexus Seawoods Mall in Navi Mumbai has announced the debut edition of the Art of Happyness Utsav 2025, a four-day cultural event curated in collaboration with EkiBeki. Set to take place from July 25 to 28, the celebration will feature over 25 stalls by rural and tribal women artisans, interactive tribal art workshops, and a live painting of a 24-foot chandelier by artist Dhanya Namboothiri. The chandelier will later be installed in the mall atrium as a life-sized art piece in August.Read more

The Indian real estate sector is witnessing significant leadership changes at two prominent firms. Priyansh Kapoor, formerly Godrej Properties' Zonal CEO for the Mumbai Metropolitan Region, has been appointed as the new Whole-time Director and CEO of Arvind SmartSpaces (ASL), effective next month. His departure from Godrej Properties led to the appointment of Amitesh Shah as the new Zonal CEO MMR. Concurrently, Godrej Properties also announced Sandeep Navlakhe as its new Chief Operating Officer, following Vikas Singhal's resignation.Read more

Sri Lotus Developers, a luxury real estate firm led by Anand Kamalnayan Pandit, has announced its INR 792 crore Initial Public Offering with a price band set at INR 140 to INR 150 per share. The IPO, set to open for subscription in the coming week, is a 100% fresh issue, with proceeds aimed at funding ongoing premium residential and commercial projects in Mumbai's western suburbs. The offering has attracted prior backing from prominent investors, including Bollywood celebrities and investor Ashish Kacholia, who collectively invested over INR 407 crore in a private placement round late last year.Read more

Shares of Reliance Power and Reliance Infrastructure each plummeted 5%, hitting their respective lower circuit limits on the BSE, after the Enforcement Directorate (ED) launched large-scale raids in connection with a INR 3,000 crore bank loan fraud involving companies linked to Anil Ambani. The ED is investigating suspected money laundering and loan diversion tied to loans disbursed by Yes Bank between 2017 and 2019. While both firms emphasized that these developments bear no impact on their operations or governance, investor concerns triggered a sharp market reaction.Read more