2022-11-13
Its profit after tax (PAT) stood at Rs 4.89 crore in Q2 FY23. The board of directors approved the proposal to raise funds by way of issuance of debt securities including but not limited to senior, secured, rated, listed, redeemable non-convertible debentures on private placement basis up to Rs 150 crore.
2022-11-13
China Evergrande Group's undeveloped land for residential development in Hong Kong's Yuen Long district has been sold by its receivers for $636.94 million. The land project is expected to result in a loss of about $770 million. The sale proceeds will be used to repay the financial obligations tied to the land plot.
2022-11-13
MahaRERA is yet to clear 6,191 complaints despite the passage of six years since the implementation of the Real Estate (Regulation and Development) Act in the state. Though MahaRERA has been working on identifying the “lapsed” projects, consumers feel the complaints need to be addressed at the earliest by setting up more benches across the state.
2022-11-13
Residents of Athashri, a senior citizens’ housing condominium on Baner Pashan Link Road, they feel harassed after receiving a message from the Pune Municipal Corporation seeking Rs20,17,648 as property tax dues (for 2022-23 and 2021-22) for a dining hall and a community hall on the premises. They claimed that the builder — Paranjape Schemes Construction Limited — submitted incorrect floor plans to the PMC, wherein, the dining hall and the community hall are shown as additional parking areas.
2022-11-13
India's Indigo Paints second-quarter profit that more than doubled, as price hikes helped offset increasing costs of raw materials. Net profit jumped 173.8% to 370.9 million Indian rupees ($4.47 million) for the three months ended Sept. 30, from 135.5 million rupees a year earlier.
2022-11-13
The Haryana real estate regulatory authority (HRERA), ordered the Vatika Limited to refund money to 28 buyers with interest at the prescribed rate as it failed to start the construction of the project. The allottees are entitled for the refund of the amount paid by them against the allotment of their units with interest at the prescribed rate of 10.25% per annum.
2022-11-13
The Enforcement Directorate has filed a charge sheet against the SRS group and its promoters in a money laundering case linked to alleged cheating of homebuyers and investors. "The accused duped innocent buyers by promising them to deliver flats, plots, commercial spaces etc. however, they failed to deliver the projects. The real estate projects were mortgaged to avail loans from banks and other financial institutions," ED said.
2022-11-12
Singapore's sovereign wealth fund GIC and Canada's Dream Industrial REIT will buy Canada's Summit Industrial Income REIT for about C$4.46 billion ($3.30 billion), excluding debt. GIC and Dream Industrial REIT (DIR) will form a joint venture for the deal, with GIC owning 90% and DIR owning the rest.
2022-11-12
The India Cements has reported net consolidated loss after tax of Rs 121 crore in the second quarter of the financial year 2022. It had recorded profit after tax of Rs 32.52 crore in the corresponding quarter of the previous fiscal. The company's net consolidated income stood at Rs 1,337.70 crore in Q2 FY23.
2022-11-12
Realty firm Vaishnavi Group and the owners of Chalukya hotel in Bengaluru are finalising the terms of an agreement under which the iconic property will be redeveloped into a grade-A office complex. Redevelopment of the property, which is owned by Mohammed Iqbal, is expected to take two years from the time the requisite approvals are in. It will offer 150,000 sq. ft. of office space.
