Delhi's municipal bodies are moving towards major property tax reforms aimed at bringing clarity, fairness, and ease for taxpayers. The New Delhi Municipal Council (NDMC) has suggested shifting from the old "rateable value" method to a unit area-based system, where tax is linked to property size, age, and condition. Meanwhile, the Municipal Corporation of Delhi (MCD) has recommended limiting retrospective assessments to seven years and ensuring physical surveys before issuing new bills. Both civic bodies are also pushing to replace imprisonment and harsh fines with monetary penalties, reducing legal strain for property owners across the city.Read more

Infrastructure and EPC firm Vikran Engineering is set to launch its initial public offering (IPO) on August 26, aiming to raise INR 772 crore. The IPO, which will close on August 29, has a price band of INR 92 to INR 97 per share. The proceeds from the fresh issue, amounting to INR 721 crore, will be primarily used to fund the company's working capital needs, crucial for its large and growing order book. This public issue comes as the company reports strong financial performance, with revenues growing by over 16% in the last fiscal year. The IPO is a strategic move to leverage India's robust infrastructure development and capitalize on the government's significant capital expenditure in the sector.Read more

Omaxe Ltd, a prominent real estate developer in India, has reported a consolidated net loss of INR 185.77 crore for the first quarter of fiscal year 2025-26. This marks a significant increase from the INR 146.98 crore loss reported in the same period the previous year. The company's total income declined to INR 298.03 crore, down from INR 385.23 crore in the corresponding quarter of the previous fiscal year. Despite these financial challenges, Omaxe continues to expand its portfolio, having recently acquired 450 acres of land in Indore, Madhya Pradesh, for a township development project valued at INR 1,200 crore. Additionally, the company secured INR 500 crore in funding from Oaktree Capital Management to support its ongoing and future projects.Read more

The Greater Mohali Area Development Authority (GMADA) recently concluded an e-auction that generated INR 961 crore by selling 65 out of 167 properties. Commercial properties, especially in Aerocity and Sector 78, drew strong bids, while residential plot prices showed a slight dip compared to the previous auction. Some categories, including petrol pump plots, hotel sites, and school plots, saw no interest, reflecting cautious investor sentiment. This auction highlights both the active demand in commercial real estate and the selective interest in residential and institutional plots in Mohali.Read more

EFC India, a provider of managed office infrastructure and design services, has begun trading on the National Stock Exchange after being listed on BSE. The move is expected to improve liquidity, strengthen investor trust, and widen the company's reach. In its recent quarterly results, the firm reported nearly 200% profit growth, with operating revenue more than doubling. Seat capacity crossed 60,000, supported by rising demand from sectors such as IT/ITeS, BFSI, and e-commerce. With a strong order book, including a new INR 57 crore fit-out contract, the company is positioned for steady expansion.Read more

Inox Wind Ltd. has announced a record-breaking performance for the first quarter of the fiscal year, posting its highest-ever profit after tax of INR 97 crore. The robust financial results were driven by a 32% year-on-year surge in revenue, reaching INR 863 crore, and strong operational execution. The company successfully executed 146 MW of projects during the quarter and maintained a diversified order book of approximately 3.1 GW, ensuring strong revenue visibility for the next two years. The positive results, combined with a recent corporate merger and the commissioning of new manufacturing units, highlight the company's strengthened position in India's expanding wind energy market.Read more

The Telangana Housing Board conducted an online auction for over 7.5 acres of land in Kukatpally Housing Board colony, Hyderabad expecting to generate around INR 500 crore. The base price was set at INR 40 crore per acre, and the auction attracted active participation. In addition, 618 incomplete 3-BHK flats located in Pocharam and Gajularamaram are also being auctioned. The housing board has already earned more than INR 300 crore from earlier sales of open plots and Rajiv Swagruha flats, and the funds are being directed to affordable housing projects and the Indiramma scheme.Read more

KVN Properties, a new real estate firm founded by former Prestige Estates CEO Venkat K Narayana, is in discussions to raise INR 1,000 crore from Kotak Realty Fund. The proposed fundraise, to be secured through the issue of debentures, is aimed at acquiring a portfolio of land parcels with development potential across India. The company, which has already finalized joint ventures with leading developers like Puravankara and Assetz Group in Bengaluru, aims to have a land bank with a gross development value (GDV) of over INR 4,300 crore. The fund will enable KVN Properties to capitalize on the strong demand in India's residential and commercial real estate sectors and expand its footprint through a joint development model.Read more

Gem Aromatics Ltd, a maker of special ingredients for consumer and personal care products, saw its INR 451 crore public offering get fully bought up on its first day of bidding on August 19. The public offering, which has a price range of INR 309 to INR 325 per share, received bids for 1.03 times the shares on offer, with a lot of interest from both individual and institutional investors. The company plans to use the money mostly for paying back debt and for general company needs. This good demand shows investor trust in the specialty chemicals sector, a key part of India's growing economy, and Gem Aromatics' strong market spot as a specific type of player with many different clients, including industry leaders like Dabur and Colgate-Palmolive.Read more

The initial public offering (IPO) of Shreeji Shipping Global Ltd, a provider of dry bulk cargo solutions, received a healthy subscription of 2.13 times on its first day of bidding on Tuesday. The INR 411-crore share sale saw robust interest from non-institutional and retail investors, with the Qualified Institutional Buyers (QIB) portion also fully subscribed. The IPO, which has a price band of INR 240-252 per share, is a fresh issue with no offer-for-sale component. The company plans to use the largest part of the IPO funds to purchase "supramax" dry bulk carriers. This strategic investment is intended to expand its fleet and take advantage of the growing maritime logistics sector in India. The public can subscribe to the IPO until August 21.Read more