Realty developers Parsvnath Developers and Unity Group are set to earn an annual rental income of around INR 120 crore from their newly launched shopping mall, Unity One Elegante, located at Netaji Subhash Place in Delhi. The mall, built through an equal joint venture between the two firms, has a total leasable area of 5 lakh square feet and has achieved full occupancy. Developed on land leased from the Delhi Metro Rail Corporation (DMRC), the venture will pay approximately INR 20 crore annually as lease rent to DMRC.Read more

Air India Express will begin operations from the upcoming Navi Mumbai International Airport (NMIA) with five daily flights connecting major metro cities Delhi, Bengaluru, Chennai, Hyderabad, and Kolkata. The airline plans to expand to 20 daily departures after initial operations begin. In September, the airline announced 40 daily domestic flights in its first phase, connecting 15 cities. The Air India group aims to increase NMIA operations to 55 daily departures by mid-2026, including up to five international flights, and further to 120 daily departures and 60 arrivals by winter 2026.Read more

Samhi Hotels Ltd announced that the Maharashtra Industrial Development Corporation (MIDC) has approved an extension to the development timeline for its 700-room hotel project near Navi Mumbai International Airport and DY Patil Stadium. The first phase of the development will include 400 rooms. Planned to be operated under the Westin and Fairfield by Marriott brands, this will be Samhi's largest hotel property by room count and its first in the Mumbai Metropolitan Region.Read more

ITC Hotels reported a 74% jump in net profit to INR 133.29 crore for the quarter ended September, up from INR 76.63 crore last year, driven by higher operational revenue of INR 839.48 crore. The company, recently demerged from ITC Limited, said demand growth was supported by domestic travel, evolving consumer trends, and government focus on tourism. Despite temporary monsoon-related softness, business rebounded in September. ITC Hotels also unveiled its new luxury brand, Epiq Collection, with upcoming projects in Puri and Tirupati, adding around 1,000 rooms in the medium term. With 146 operational hotels and 61 under development, ITC Hotels remains focused on premiumisation and long-term expansion.Read more

Swedish furniture giant Ikea is preparing to make its debut in the Pune market with a lease agreement for over 37,000 sq ft of space at Phoenix Marketcity mall in Lohegaon's Viman Nagar area. The company, which entered India in 2018, has finalised a 59-month lease with Vamona Developers. The store will mark Ikea's expansion into another major urban market. IKEA is currently present in India with 3 large-format stores in Hyderabad, Navi Mumbai, and Bengaluru; two city stores in Worli and West Delhi; one Plan and Order Point in Bengaluru.Read more

The Tamil Nadu Tourism Development Corporation (TTDC) has taken possession of a private star hotel near Khajamalai in Trichy after the hotel failed to clear its lease dues. The property, leased to SRM Hotel since 1994 for 30 years, had an outstanding lease amount of INR 38 crore at expiry. Legal proceedings delayed possession, with the hotel obtaining interim relief from the Madras High Court and approaching the Supreme Court. Directed to pay INR 20 crore, the hotel defaulted, prompting TTDC officials to assume control and start the process of gradual surrender.Read more

India's retail real estate is witnessing a steady shift toward institutional-grade malls, which now make up 30-35% of the 650 operational malls. This transition is led by developers like Nexus Malls, Phoenix Mills, DLF, and Prestige Estates, who are expanding into Tier II cities including Chandigarh, Indore, Surat, Bhubaneswar, and Coimbatore. Grade A malls are growing rapidly, vacancy levels are falling, and retail productivity remains strong at INR 1,200-1,600 per sq ft per month. Recent GST reforms are expected to enhance transparency, investor confidence, and demand for quality retail spaces.Read more

The government has confirmed that the UDAN regional air connectivity scheme will continue beyond April 2027, after successfully operationalising 649 routes connecting 93 unserved and underserved airports, including 15 heliports and 2 water aerodromes. Over 1.56 crore passengers have travelled on more than 3.23 lakh flights under the scheme. Airlines have received over INR 4,300 crore in Viability Gap Funding, while INR 4,638 crore has been invested in airport development. The expanded UDAN framework will focus on hilly, North Eastern, and aspirational regions, adding about 120 new destinations.Read more

Carnelian Asset Management has invested INR 100 crore in Park Medi World, which operates a chain of hospitals under the Park brand, as part of a pre-IPO round. The deal involved promoter Ajit Gupta selling 61,72,840 equity shares, or about 1.6 percent of the company's stake, at INR 162 per share. Park Medi World's planned INR 1,260 crore IPO, already approved by regulators, aims to fund debt repayment, new hospital development, and equipment purchases across its expanding network of 13 hospitals in North India.Read more

Leela Palaces Hotels & Resorts has reported a profit after tax of INR 75 crore for the second quarter, marking its fourth consecutive quarter of profitability. Revenue rose 11% year-on-year to INR 333 crore, driven by a 13% growth in revenue per available room, reflecting higher occupancy and improved average daily rates. EBITDA increased by 17% to INR 161 crore, while operating margins expanded to 25.2%. The company also announced its international expansion with a new property in Dubai's Palm Jumeirah, highlighting its strategic growth plans.Read more