Mahendra Realtors & Infrastructure Ltd. has launched an Initial Public Offering (IPO) on the NSE Emerge platform, aiming to raise INR 49.45 crore. The company, which specializes in engineering and construction services, plans to use the funds to meet its working capital needs and support business growth. According to Managing Director Hemanshu Shah, this public offering is a key milestone that will allow the company to scale its operations, enhance service delivery, and capitalize on new opportunities in India's growing infrastructure sector.Read more

Nashik's civic administration recently lifted property tax from mobile towers with effect from the start of this year, while insisting telecom firms settle dues through December of last year. The move aligns with the Telecommunication Act, 2023, affirmed by state urban planning directives. The city hosts around 596 mobile towers, previously contributing an estimated INR 7 crore annually, yet telcos owe a staggering INR 52.69 crore in back taxes. Rather than dwelling on lost revenue, the municipal body is now leasing its own land to operators as a new income stream, carefully turning compliance into opportunity.Read more

Asia Healthcare Holdings (AHH) is set to invest INR 400 crore in Asian Institute of Nephrology and Urology (AINU) over the next four to five years. The investment aims to expand the urology and nephrology hospital chain from its current seven locations to 13 within the next three to four years, with a focus on Tier 2 towns. The planned outlay will bring AHH's total investment in AINU to INR 1,000 crore and reflects the company's strategic focus on the growth of single-specialty healthcare enterprises in smaller cities across India.Read more

China Evergrande Group will be delisted from the Hong Kong stock exchange on August 25, 2025, following a January 2024 liquidation order after failing to restructure over USD 300 billion in debt. Trading in its shares had been suspended for 18 months, breaching exchange rules, leaving shareholders facing near-total losses. Once China's largest developer by sales, Evergrande's collapse epitomises the property sector downturn triggered by a 2020 crackdown on excessive borrowing. Founder Hui Ka Yan has been detained, and the firm and its auditors fined for misconduct. With liquidators expecting only modest asset recoveries, the delisting closes a turbulent chapter in China's housing crisis.Read more

Smartworks Coworking Spaces Ltd posted a reduced net loss of INR 4.19 crore this week, compared with a loss of around INR 23 crore in the corresponding quarter last year, thanks to a revenue rise to nearly INR 388 crore. The company reported a sharp jump in both reported and normalised EBITDA, along with a turnaround to normalised PBT profit. Its leased portfolio grew beyond 10 million square feet, with further expansion underway. All of these developments follow its recent stock market debut, which was met with strong investor interest.Read more

The Tamil Nadu government will set up a special purpose vehicle (SPV) to manage co-working spaces under the Chief Minister's initiative, ensuring smooth operations independent of administrative changes. Modeled on entities like Chennai Metro Rail Limited, the SPV will replace the current CMDA-Greater Chennai Corporation arrangement to avoid coordination and funding delays. It will also focus on job facilitation, inviting recruitment agencies to conduct placement activities within centres and launching an online portal for job listings and candidate profiles. With only the Kolathur hub operational so far, 29 more centres are planned. All services will be free, connecting employers, startups, and job seekers.Read more

Capacit'e Infraprojects, an engineering and construction firm, reported a 12 percent decline in consolidated net profit to INR 47 crore for the June quarter of fiscal year 2026. The company, which had a profit of INR 53 crore in the same period last year, attributed the drop mainly to temporary labor shortages and an early monsoon. Despite the dip in profit, the company's total income grew by 4 percent. As of June 30, the company had a strong order book of INR 11,254 crore, with a mix of public and private sector projects.Read more

Afcom reported a sharp rise in its June quarter net profit, reaching INR 27 crore compared to INR 0.62 crore in the same period last year. The company's total income more than doubled to INR 118.89 crore from INR 39.88 crore a year ago, supported by steady operational performance with network utilisation at nearly 84 per cent. Alongside its financial gains, Afcom has been expanding its international presence, launching a cargo route to Hanoi and signing an interline agreement with VietJet. It also contributed significantly to record transshipment volumes at Velana International Airport in July, strengthening its position in regional logistics.Read more

Kolte-Patil Developers has restructured its portfolio by exiting stakes in four ventures via its subsidiaries. Kolte-Patil Lifespaces divested a 36 % stake in Amco Landmarks Realty for INR 4 crore. The group also fully exited Kolte-Patil Realtors Estate, selling to a promoter entity for INR 1 lakh; pulled out of Regenesis Project Management LLP's 35 % for INR 3.10 crore; and relinquished a 42.5 % stake in Ayaan Vihan Land Development for INR 25,000 even though that firm had a net worth exceeding INR 10 crore. These decisions reflect a clear shift toward refinement and focus.Read more

Varmora Granito, a tiles and bathware maker based in Rajkot, recently filed its DRHP with SEBI, proposing a blended IPO with fresh equity worth INR 400 crore and an OFS of about 5.24 crore shares. Much of the fresh funds will go toward repaying debt across the parent company and its subsidiaries; the balance is meant for general corporate purposes. The company offers an extensive tile range, including glazed vitrified and ceramic variants, supported by a strong manufacturing footprint and wide distribution network.Read more

Apeejay Surrendra Park Hotels is set to claim 55 per cent of revenues from its upcoming luxury hotel and serviced-apartment development along Kolkata's EM Bypass. The 3.5-acre project, in partnership with Ambuja Neotia Group, will house a 250-key five-star hotel and 100 serviced residences. With most approvals in hand and municipal clearance expected soon, construction is slated to begin shortly. Residential units will launch around Diwali. The ambitious venture promises strong margins without additional capital and is expected to generate INR 600 crore in total revenues over three years.Read more

Awfis saw a standalone profit of INR 8.94 crore and total income of INR 351.54 crore, reflecting a 30 percent year-on-year growth in operating revenue. Profitability improved markedly, with the operating EBITDA margin reaching 37.8 percent. A 40 percent expansion in seat capacity and a 25 percent rise in tier-II city presence underline its scalability. The company is also entering office furniture production, investing INR 8-10 crore to streamline fit-outs and create a new income stream all following the previous quarter's dramatic profit and revenue rise.Read more

The Tata Group's Indian Hotels Company Ltd (IHCL) has signed agreements to acquire 51 % stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, which operate 135 hotels under the Clarks Hotels & Resorts brand. The deal involves a cash investment of up to INR 110 crore for ANK Hotels and INR 94 crore for Pride Hospitality. IHCL has also entered a distribution and marketing agreement with Brij Hospitality, adding 19 more hotels to its network. The move aligns with IHCL's asset-light strategy and expands its reach in India's mid-scale segment.Read more

Highway Infrastructure Ltd. entered the stock market with a sharp surge in its share price, listing at INR 117 on the BSE and INR 115 on the NSE about 67 % and 64 % above the IPO price of INR 70. The INR 130-crore IPO, which closed with an extraordinary subscription of over 300 times, comprised a fresh issue worth INR 97.52 crore and an offer-for-sale of 46.4 lakh shares at INR 32.48 crore. Established in 1995, the Indore-based company works in tollway collection, EPC projects, and real estate development. Strong grey market activity before listing had already hinted at a robust debut.Read more

The Finance Ministry recently introduced the Taxation Laws (Amendment) Bill, 2025, aimed at providing tax exemptions for subscribers of the newly launched Unified Pension Scheme (UPS). This bill ensures that all tax benefits previously available under the New Pension Scheme (NPS) will now apply to the UPS, which came into effect from April 1, 2025. Besides pension-related changes, the bill also proposes amendments to the block assessment process in income tax search cases and offers specific direct tax benefits to Saudi Arabia's public investment funds. These updates seek to improve tax administration, encourage pension savings, and strengthen foreign investment ties.Read more

SEBI has proposed significant changes to allow resident Indian non-individuals and mutual funds greater participation in the Foreign Portfolio Investors framework, especially within International Financial Services Centres. The regulator plans to enable retail schemes sponsored or managed by resident Indians in IFSCs to register as FPIs, with a 10 percent contribution limit in certain funds. Additionally, overseas mutual funds could include Indian mutual funds as constituents. The proposals seek to expand the existing FPI participation rules that currently restrict resident Indians and NRIs from registering as FPIs, aiming to foster increased investment flexibility and growth in international investment structures.Read more

The Greater Mohali Area Development Authority (Gmada) has held a numbering draw for shops-cum-offices (SCOs) and bay shops in Aerocity under its land-pooling scheme, limited to existing letter of intent (LOI) holders. Lists of eligible applicants were published for verification, with objections accepted only before a set deadline. The draw precedes actual possession, which will follow completion of development works in the coming months. Applications include 40 for 60 sq yd bay shops, 131 for 100 sq yd SCOs, and 29 for 121 sq yd SCOs. While Aerocity's commercial growth is promising, residents urge Gmada to address civic issues for sustainable development.Read more

The Navi Mumbai Municipal Corporation (NMMC) has introduced amendments to its property transfer fee policy, aiming to simplify procedures and improve transparency. Approved by the Commissioner and Administrator, the revisions include a ready reckoner-based calculation system, reduced charges for inheritance transfers, and a revised deadline for late fee applicability. The updated structure incorporates clear mathematical methods, provisions for various document types, and specific rules for corporate ownership changes. The late fee provision will apply from October, giving property owners time to comply with the updated requirements.Read more

In an exchange filing earlier this week, NBCC India reported a consolidated net profit increase of nearly 26 per cent for the opening quarter of the current fiscal year compared to the same period a year ago. The company also recorded double-digit revenue growth and announced a first interim dividend for shareholders. The strong quarterly performance reflected the firm's expanding project portfolio and steady execution capabilities.Read more

Property tax collections in Gurugram have reached nearly three-quarters of the annual target, while Manesar has already surpassed last year's revenue, thanks to an AI-powered tax system. The technology uses generative AI chatbots to engage taxpayers, identify reasons for non-payment, and categorise them for tailored follow-up-ranging from quick reminders to solutions for genuine challenges. Piloted in Yamunanagar, the system has boosted payments and reduced staff workload. Officials credit it with improving efficiency, while residents urge that the extra revenue be channelled into better amenities, infrastructure upgrades, and stronger public services to address urban needs alongside financial gains.Read more