₹2,900-crore border infra projects in 11 States/UTs dedicated to nation
 

Crib targets Rs 6.5 crore ARR from SaaS offerings in FY 23-24
Startup Crib, which specialises in technological solutions for co-living, hostels, Paying Guest (PG), and serviced apartments operators, have added 1.5 lakh beds within its 15 months of operation.

Global institutional investors favour data centers & co-living as alternative real estate investments
In recent years, the investment flow into the real estate’s alternative asset class has highlighted Data centers and co-living as the favored choices for global institutional investors. According to Colliers India’s latest report, alternative assets in India received cumulative investments of about USD2.0Bn during the last 4-5 years (2019-H1 2023), led by foreign investors. Foreign investments accounted for 78% of the total investments in the segment, as investors continued to seek newer markets and newer avenues segments to diversify their asset portfolio while enhancing risk adjusted returns.

Residential real estate witnesses 35% y-o-y surge in NRI investments
Bengaluru: The residential real estate market in India has witnessed a 35 per cent year-on-year (y-o-y) increase in non-resident Indians (NRI) investments over the past year, with the average ticket size investment falling between ₹90 lakh and ₹1.5 crore, Saurabh Garg, Co-founder and chief business officer, NoBroker, told businessline. Although the trend is not novel, the upsurge in demand is substantial when contrasted with the period before the Covid-19 pandemic, during which it remained in single-digit figures.

‘We foresee double-digit growth in sales bookings in next 2-3 years’
Bengaluru-based Prestige Estates Projects saw its net profit going up 30% in Q1FY24. The company’s stock price went up 62% in the last six months, reflecting investor interest in the company’s performance. The company is also looking to launch new luxury projects in Mumbai, Kozhikode and so on. In an interview, Irfan Razack, chairman and managing director of the company, tells Raghavendra Kamath about the company’s growth plans and outlook for the business.

Christian Dior leases space at RIL’s Jio World Plaza in Mumbai’s Bandra-Kurla Complex

The Indian arm of the French multinational luxury fashion house Christian Dior SE has leased nearly 3,320 sq ft retail space from Reliance Industries in its Jio World Plaza in Mumbai’s business district Bandra-Kurla Complex (BKC) for a term of 9.5 years

Kochra Realty acquires Rs 700 crore stressed residential project in Mumbai’s Dahisar

Realty developer Kochra Realty has taken over a Rs 700-crore stressed residential project that has been delayed for long in Mumbai’s Dahisar suburb. The company is planning to revive the stalled project and is aiming to deliver it completely by early 2025.

Ajmera Realty secures redevelopment project in Mumbai’s Borivali, aims Rs 330 crore sales

Realty developer Ajmera Realty & Infra India has secured the rights to redevelop four housing societies at Yogi Nagar in Mumbai’s Borivali suburb. The project is likely to generate revenue of Rs 330 crore with an estimated carpet area of over 1.07 lakh sq ft.

Bollywood actor Sonakshi Sinha buys premium apartment in Mumbai’s Bandra

Bollywood actor Sonakshi Sinha has purchased an apartment in a premium residential tower in Mumbai’s Bandra suburb for Rs 11 crore. The apartment is spread over nearly 2,430 sq ft and is on the 26th floor of the standalone tower 81 Aureate on KC Road near Bandra reclamation.

Prestige Group looks to partner TDI in Lutyens' Delhi

Bengaluru-based Prestige Group is in advanced negotiations with TDI Infratech to enter into a joint development agreement to develop a 5,100 square-yard residential property in Lutyens’ Delhi, said people aware of the development.

BFSI firms' leases large office spaces across major markets

After a 2-year hiatus, the BFSI sector has made a robust comeback, with major global and domestic firms securing significant office space leases in the last six months.

Infrastructure Boost! Rajnath Singh inaugurates Arunachal’s Nechipu Tunnel, other infra projects worth Rs 2941 cr
Defense Minister Rajnath Singh has inaugurated about 90 infrastructure projects, in a ceremony at Devak Bridge in Jammu on Tuesday. These projects, constructed by the Border Road Organization (BRO) at a total cost of Rs 2941 crore, span across 10 border states and union territories in the Northern and North-Eastern regions of India.

Chandigarh-Shimla National Highway: Expert committee visits multiple sites on Parwanoo Solan stretch; seeks details from NHAI
A three-member expert committee with members visited as many as ten sites on the entire Parwanoo Solan stretch of the Chandigarh-Shimla National Highway (NH05) on Sunday. The experts were from IIT Roorkee, IIT Mandi and National Highway of Authority of India (NHAI) and were headed by R K Pandey from NHAI. The team may submit its report to the NHAI with a week, The Indian Express reported. 

Hindalco ties up with Italian company for high-speed rail coaches project
Mumbai: Hindalco Industries will invest about ₹2,000 crore in a project that involves an alliance with Italian company Metra SpA for its tech expertise in making coaches for Vande Bharat and other trains. The tie-up will help the Aditya Birla Group's flagship metals company produce aluminium fabrication and extrusion for high-speed railway coaches.

Aluminium rail coaches: Hindalco ropes in Italian firm Metra for extrusion tech
Hindalco Industries, the world's largest aluminium rolling and recycling company, on Tuesday said it has signed a technology partnership agreement with Italy-based Metra to manufacture high-speed aluminium rail coaches. The Aditya Birla group company in a statement said the partnership is aimed at sharing extrusion and fabrication technology for building high-speed aluminium rail coaches.

Railway Board shifts employees of electrification body to railway zones

The CORE had electrified 58,812 route kilometers (RKM) of the Indian Railway's broad-gauge network by March 31, 2023, which is 90 per cent of the total network (65,300 RKM).