The Madurai Corporation recently announced that its April 2025 property tax collections totaled an unprecedented INR 54.91 crore, the highest amount of money collected in a single month in the corporation's history. This achievement was driven by a 5% early payment rebate scheme, capped at INR 5,000 per taxpayer, and a series of awareness campaigns. The corporation also deployed assistant revenue officers and bill collectors across all 100 wards, ensuring accessibility and convenience for residents. This proactive approach resulted in a substantial increase compared to the previous year's collections.Read more

The Karnataka government has allocated INR 7,000 crore to Bengaluru Smart Infrastructure Ltd (B-SMILE), a special purpose vehicle aimed at executing large-scale infrastructure projects in Bengaluru. The funding is designed to draw private investments, enhance project execution, and streamline land acquisition. With a dual-agency model involving the BBMP and BDA, B-SMILE is set to accelerate the city's infrastructure development. The initiative aims to offer greater financial autonomy and operational efficiency, with hopes to set a precedent for other urban SPVs in India.Read more

Larsen & Toubro (L&T) reported a 25% year-on-year increase in its consolidated profit after tax (PAT) for the quarter ending March 31, 2025, reaching INR 5,497 crore. This surge was driven by higher revenues and an exceptional gain. The company's revenue from operations also saw an increase to INR 74,392.28 crore. For the full year, L&T posted a consolidated PAT of INR 15,037 crore, reflecting a 15% growth. Its order inflows for the year were record-breaking at INR 3.56 trillion, with international orders comprising 58% of the total. Despite global challenges, L&T remains optimistic about growth prospects for FY26, forecasting a 10% rise in order inflows.Read more

The Reserve Bank of India (RBI) has recently lifted restrictions on foreign portfolio investors (FPIs) in the corporate debt market. Previously, FPIs were limited to investing no more than 30% of their total corporate debt allocation in instruments with maturities of up to one year and faced concentration limits of 15% for long-term FPIs and 10% for others. These caps have now been removed to encourage greater foreign investment inflows into India's corporate bond market.Read more

The Airport Economic Regulatory Authority (AERA) has approved a revised User Development Fee (UDF) structure for Mumbai airport, effective April 2024 to March 2029. Domestic passengers will now pay INR 275-304, while international passengers will pay INR 830-875, with higher rates for business class. A separate INR 175 levy will apply to all arriving passengers. AERA also directed Mumbai International Airport Ltd (MIAL) to revise its Terminal-1 demolition schedule, favoring a phased transition to avoid disruption. While MIAL had sought a 67% UDF hike, AERA approved only a 21.6% increase, emphasizing affordability and operational efficiency for both passengers and airlines.Read more

Ravi Infrabuild Projects Ltd, a prominent civil construction company with over two decades of experience, has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise INR 1,100 crore through an initial public offering (IPO). The proposed IPO comprises a complete fresh issue of equity shares without any Offer-for-Sale (OFS) component. The funds will be allocated towards purchasing new equipment, investment in subsidiaries for debt repayment, and general corporate purposes. With a strong foothold in multiple Indian states, including Rajasthan, Madhya Pradesh, Maharashtra, and Uttar Pradesh, the company's extensive portfolio includes projects under major national initiatives such as Bharatmala Pariyojna, NHAI, and IRCTC.Read more

The Ludhiana Municipal Corporation (MC) has escalated its efforts to recover outstanding property tax dues from government departments. Notices have been issued to various departments, including the Greater Ludhiana Area Development Authority (GLADA), Public Works Department, and Punjab Agricultural University, for properties where commercial activities are conducted without tax payments. MC officials are also displaying photographs of defaulting properties to encourage compliance. Last year, the MC successfully met its tax collection targets and aims to exceed them this year. If departments fail to settle their dues, the MC plans to inspect properties, calculate the tax owed, and take enforcement actions, including sealing buildings if necessary.Read more

Sundaram Home Finance reported a notable 26% increase in net profit for the January-March 2025 quarter, amounting to INR 71.57 crore, driven by substantial growth in small town disbursements. The had previously registered a net profit of INR 56.80 crore in the same quarter last year. For the full financial year ending March 31, 2025, the net profit rose by 4% to INR 244.66 crore. Disbursements for the quarter reached INR 1,929 crore, a significant increase from INR 1,469 crore in the prior year period. The company also expanded its footprint beyond Tamil Nadu, establishing five new branches in Andhra Pradesh during FY2025.Read more

India's private equity and venture capital (PE-VC) investments rebounded in 2024, reaching USD 43 billion across 1,600 deals-a 27% rise in activity over 2023, according to the IVCA-EY monthly roundup. While still below 2021-22 peaks, it marked the highest deal volume since 2019. Infrastructure deals surged, doubling to USD 12.4 billion and accounting for 29% of total value. Healthcare and tech drew 30% of capital, with healthcare alone attracting USD 5.6 billion. Early-stage VC deals made up 55% of VC activity. Though buyouts fell and public exits declined, investor sentiment improved, pointing to cautious optimism and stronger momentum heading into 2025.Read more

IL&FS Mutual Fund has completed the timely redemption of INR 262 crore under its Infrastructure Debt Fund Series 3B, delivering an 8% annual return since inception. The fund initially raised INR 153 crore, generating strong returns for investors. With this, total redemptions across its infrastructure debt schemes have reached INR 1,900 crore over six years, including earlier payouts from Series 1A, 1B, 1C, and 3A. Managed by IL&FS Infra Asset Management Ltd., the fund primarily targets institutional investors. The successful redemptions highlight the group's financial recovery and stability following the government's 2018 intervention, which aimed to restore investor trust after IL&FS defaulted on several obligations.Read more