Brookfield India Real Estate Trust (BIRET) has reported reported a 13% year-on-year (YoY) rise in net operating income (NOI) to ?4,986 million for the quarter ended June 30, 2025. The REIT achieved gross leasing of 651,000 sf during the quarter, registering an average re-leasing spread of 22%. Committed occupancy surged to 89%, marking a nine per cent improvement over the past 18 months since SEZ reforms, and a cumulative 4.6 million sf of gross leasing across its portfolio. Income from operating lease rentals rose 9% year-on-year to ?4,583 million, while the REIT announced a distribution of ?5.25 per unit totaling ?3,190 million, marking a 17% year-on-year increase. Alok Aggarwal, CEO and MD of the company said, "We expect to grow occupancy to more than 95%, driving 13% growth in NOI and 22% growth in distribution over the current quarter. Our proposed fundraise will further strengthen our ability to pursue large growth opportunities.” The board approved a preferential issue of ?1,000 crore to a diversified set of investors, aimed at bolstering growth ambitions. This follows the ?3,500 crore capital raise in December 2024. BIRET is also in discussions with its sponsor group to acquire grade-A properties in Bengaluru and Chennai. Supported by a dual AAA credit rating and 88% repo-linked borrowings, the trust expects further benefits from a lower interest rate environment, with 35bps of rate reduction already achieved and an additional 55bps transmission anticipated in Q2 FY26.
 

Around 20,000 houses along Old Mahabalipuram Road (OMR), Grand Southern Trunk (GST) Road, and the city's southern outskirts will receive piped natural gas (PNG) within the next 18 months, said M Thirukumaran N T, regional head (Kanchipuram) of THINK Gas, which holds licences for Kanchipuram. The company currently has 5,500 active domestic connections, nearly 60% of them concentrated in Sholinganallur, Thiruporur, Thalambur, and Thaiyur along OMR. We have created adequate infrastructure across OMR, parts of GST Road beyond Tambaram, and southern suburbs. Expansion work is ongoing," he said, adding that pipeline networks have been looped with multiple supply sources to ensure uninterrupted service even if one line is disrupted. While infrastructure is in place, the company is facing challenges in driving demand. In many shared living spaces, especially bachelor accommodations, residents don't seek gas connections as they depend on food apps or office canteens. We have identified potential high-rises like Hiranandani (Siruseri) where work could begin soon," he said. The process of getting a PNG connection has been simplified. Pipelines with valves are already laid along main roads and can be extended to individual homes. For high-rises, gas risers up to 28 metres are provided. Pipeline expansion is hampered by strict work-hour limits, allowing activity only between 11pm and 5am, with effective hours reduced to five due to setup and clearance. Approvals are slow, taking two months from highways and another month from traffic police, while 45-day permits lapse during processing. Gas firms have asked TIDCO to implement single-window clearances to cut timelines to five-seven working days.
 

Shares of IndiQube Spaces fell nearly 15% in their trading debut on Wednesday, as broader markets were muted ahead of a looming U.S. tariff deadline, valuing the Indian workspace solutions provider at 44.13 billion rupees ($506 million). IndiQube's debut is among a dozen Indian IPOs this month, but only the second to list at a discount. The firm's $80.3 million IPO was subscribed 12.4 times last week, drawing strong demand from both retail and institutional investors. Its shares opened at a 9% discount to the IPO price of 237 rupees in Mumbai. They were down 11.3% at 210.15 rupees at 11:30 a.m. IST. India's equity benchmarks were flat on caution ahead of the U.S. Federal Reserve's policy decision and a key tariff deadline later this week. IndiQube is well-placed to ride India's growing demand for office space, but its dependence on the cities of Bengaluru, Pune, and Chennai -which generate 89% of its revenue - heightens its vulnerability to regional slowdowns, analysts at Deven Choksey Research said. Rising competition from listed peers like Awfis, Smartworks, and the IPO-bound WeWork India could also weigh on pricing power, they said. Smartworks listed at a 14% premium on July 17, as investors bet on surging demand for integrated office solutions in India. Its shares have fallen about 6% since then.
 

An investment vehicle backed by Abu Dhabi sovereign investor ADQ and partly owned by Sheikh Tahnoon bin Zayed al-Nahyan is in advanced discussions to buy a minority stake in Blackstone-backed Aadhar Housing Finance, said people in the know. Sheikh Tahnoon is the United Arab Emirates national security adviser as well as ADQ chair. The $200-225 million investment (Rs 1,750-2,000 crore) will be made  through the secondary sale of shares for a 10-12% stake in the affordable housing finance company, which held an IPO in 2024. A formal announcement is expected in the coming weeks, said the people mentioned cited above. Blackstone declined to comment about the identity of the new investor or any other details. ADQ and Sheikh Tahnoon’s office didn’t respond to. On Friday, Aadhar closed at Rs 496.90 for a market value of Rs 21,469.03 crore. In the past month, it has appreciated 12.11% in anticipation of a transaction. Year to date it is up 18.63% on the back of a robust performance. The company reported a 19% increase in net profit to Rs 237 crore in the first quarter ended June. The industry is likely to see a five-year CAGR of 17-18%. The management and the board will stay in place. Under Blackstone's six-year ownership, Aadhar’s AUM has ballooned to $3 billion, 1.2x that of its nearest competitor. Other than ADQ, Abu Dhabi has several sovereign investment funds, including ADIA, Mubadala and AI-focused MGX. The oil-rich emirate has been keen on betting large sums to back new vehicles as it positions itself as a hub of global capital. For example, in 2024, ADQ and Chimera Investment--part of the sprawling business empire of Sheikh Tahnoon–launched Lunate, which has emerged as one of the hottest new asset managers of the region, which has invested in close to 30 deals in one year. Lunate also owns Alterra, a $30 billion climate fund, with international groups BlackRock, TPG and Brookfield. ADQ has committed $6.5 billion to Alterra. Lunate includes Alterra in its assets under management.
 

Knowledge Realty Trust, sponsored by realty firm Sattva Group and Blackstone, has got Sebi approval to launch its REIT public offering to raise Rs 4,800 crore fund. Last month, Knowledge Realty Trust (KRT) had raised Rs 1,400 crore from investors ahead of its maiden REIT public issue. In early March, the KRT filed the draft red herring prospectus (DRHP) with Sebi to launch an initial public offering (IPO) and list the REIT on stock exchanges. This is part of a strategy to monetise its 30 prime office assets across major cities. According to sources, KRT received Sebi approval to launch its REIT- IPO, which is scheduled to hit the capital markets in the first week of August. The company plans to raise Rs 4,800 crore through the public issue as it has already raised Rs 1,400 crore from investors, they added. Sattva Group spokesperson declined to comment. The company will start the roadshow this week, and the price band is likely to be announced on August 30. KRT is set to become India's largest REIT by gross asset value (around Rs 62,000 crore). Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. Since their inception, these REITs have collectively distributed over Rs 21,000 crore to unitholders.
 

Sundaram Home Finance Ltd has reported a marginal decline in its net profits at Rs 62 crore for the April-June 2025 quarter, the company said on Saturday .The city-based company had registered a net profit of Rs 66 crore during the corresponding quarter of the last financial year. The disbursements made during the quarter under review grew to Rs 1,488 crore, as compared to Rs 1,353 crore disbursed during the same quarter of the last financial year. Sundaram Home Finance recorded a jump on its Assets Under Management (AUM) at Rs 18,027 crore as on June 30, 2025 from Rs 14,533 crore registered as on June 30, 2024, the company said in a statement here. During the June quarter, the company expanded its presence in Madhya Pradesh by opening two more new branches in Ratlam and Pithampur. Sundaram Home Finance is a wholly owned subsidiary of city- headquartered non-banking finance company Sundaram Finance Ltd. It provides home and plot loans, loans against property among others. The company has over 150 branches across the country.
 

Aadhar Housing Finance has reported a growth of 18.56 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax stood at ?237.28 crore in Q1 FY26 as against ?200.14 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ?851.34 crore in Q1 FY26, a growth of 19.38 per cent from ?713.15 crore it recorded in the similar quarter last year. Rishi Anand, MD & CEO of the company said, “We concluded the first quarter of FY26 on a strong note with an AUM of ?26,524 crore, reflecting a year-on-year growth of 22%. Disbursements remained healthy at ?1,979 crore, up 32% year-on-year, supported by sustained demand in the affordable housing segment. Profit after Tax (PAT) for the quarter stood at ?237 crore, marking a year-on-year growth of 19%." Assets under management (AUM) grew by 22% to ?26,524 crore as of 30th June 2025 from ?21,726 crore as of 30th June, 2024 while total number of loan accounts reached over 3,06,000. As on June 30, 2025, the company's net worth stood at ?6,616 crore, return on assets (ROA) stood at 4% and gross NPA stood at 1.34%.
 

Greater Chennai Corporation removed 2 lakh tonnes of construction and demolition (C&D) waste in the past six months across all 15 city zones. The clean-up, which began on Jan 7, was initially carried out in seven zones but later expanded to all zones after a legal dispute was resolved. The effort, supported by Premier Precision Surface, now involves 168 vehicles, including earthmovers, tipper lorries, and compact trucks. On an average, about 1,000 tonnes of waste is cleared every day. Officials said the waste is sent to recycling centres at Kodungaiyur and Perungudi, where it is sorted and reused as paver blocks for pedestrian plaza construction on Khader Nawaz Khan Road at Nungambakkam and MC Road in Royapuram. GCC also developed an app to help identify waste locations, seek approval, and upload photos after removal. New guidelines for the disposal of C&D waste came into effect on April 21. Residents are urged to follow these norms, and awareness campaigns  and training sessions have been conducted. Fines totalling 39.3 lakh were collected from violators since Jan. This operation helped clear debris from roads, residential areas, and commercial zones, preventing accidents and improving hygiene. Details of the guidelines are available on the GCC website and helpline 1913. The top contributors to waste removal include Teynampet (20,589.15 tonnes), Adyar (20,199.21 tonnes), and Anna Nagar (18,114.32 tonnes). 
 

Bajaj Housing Finance has reported a growth of 20.86 per cent in its net consolidated profit in the first quarter of the financial year 2025-26. The company's profit after tax stood at ?583.30 crore in Q1 FY26 as against ?482.61 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ?2,618.45 crore in Q1 FY26, a growth of 18.55 per cent from ?2,208.73 crore it recorded in the similar quarter last year. As of June 30, 2025, the company's net worth stood at ?20,508.37 crore, debt-equity ratio was 4.31, total debts to total assets was 0.81, gross non-performing assets (NPA) was 0.30%, net NPA was 0.13%, capital to risk-weighted assets ratio was 26.94% and liquidity coverage ratio was 210.57%. The company's assets under management (AUM) grew by 24 per cent to ?1.20,420 crore as of 30 June 2025 from ?97,071 crore as of 30 June 2024. Loan losses and provisions for Q1 FY26 was ?41 crore as against ?10 crore in Q1 FY25. Provisioning coverage ratio on stage 3 assets at 56%.
 

Cement maker Dalmia Bharat Ltd on Tuesday reported a nearly three-fold increase in its consolidated net profit of Rs 395 crore in the June quarter, mainly helped by improved sales realisation and reduction in expenses. The company had posted a net profit of Rs 145 crore in the April-June quarter a year ago, according to a regulatory filing from Dalmia Bharat. However, its revenue from operations was almost flat at Rs 3,636 crore in the June quarter. It stood at Rs 3,621 crore in the corresponding period of the previous fiscal. Dalmia Bharat's sales volume increased 5.8 per cent to 7.4 million tonnes (MT) in the June quarter. Beginning of this year marks a recovery in cement realisations in our key markets, which has helped us deliver robust EBITDA growth, resulting in an EBITDA margin of 24.3 per cent, which is an increase of 5.8 per cent percentage points compared to last year," said its Managing Director & CEO Puneet Dalmia. Besides, its EBITDA (earnings before interest, taxes, depreciation and amortisation) during the quarter improved significantly to Rs 883 crore, indicating a 32 per cent year-on-year (YoY) growth. Backed by a robust balance sheet, a disciplined capital allocation framework and healthy profitability outlook, we are steadily progressing towards our vision of becoming a PAN-India player," the company's Chief Financial Officer Dharmender Tuteja. The company's total expenses were at Rs 3,183 crore, down 5.4 per cent during the period under review. Its total income, which includes other income, stood at Rs 3,685 crore. With an installed capacity of 49.5 MTPA (million tonnes per annum), Dalmia Bharat is the fourth-largest cement manufacturing company in India. Shares of Dalmia Bharat Ltd on Tuesday settled 2.46 per cent higher at Rs 2,319.15 apiece in the BSE.
 

PNB Housing Finance on Monday reported a 23 per cent increase in its net profit to Rs 534 crore for the first quarter ended June 2025. The housing finance firm had earned a net profit of Rs 433 crore in the same quarter of the previous year. The company's total income for the quarter grew to Rs 2,082 crore from Rs 1,832 crore in the corresponding quarter of the previous fiscal year, PNB Housing Finance said in a regulatory filing. Interest income for the quarter was higher at Rs 1,980 crore compared to Rs 1,739 crore a year ago. The net interest income also saw a 17 per cent rise to Rs 760 crore at the end of Q1 2025 against Rs 651 crore in the year-ago quarter. The net interest margin increased to 3.75 per cent compared to 3.65 per cent in the first quarter of the previous year. The gross Non-Performing Assets (NPAs) of the company decreased to 1.06 per cent from 1.3 per cent at the end of June 2024. The company's capital adequacy ratio stood at 29.68 per cent as of June 30, 2025, of which Tier I capital is 28.96 per cent and Tier II is 0.72 per cent compared to 29.50 per cent as of June 30, 2024, of which Tier I capital is 28.43 per cent, it added.
 

In a move aimed at enhancing transparency and fairness in property transactions, the state govt has amended the stamp rule framework to introduce the concept of composite value for apartments and flats, and has also enabled more flexible revisions of guideline values. The new rules, notified on June 23, mark a shift in the way property valuation is conducted in TN. They empower the valuation committee to revise guideline values at any point during the year, rather than waiting for a specific month. "Earlier, revisions were tied to Oct. But if a decision to revise was taken in April, we had to wait. Now, updates can happen whenever needed. But the process has not been changed. District level committees will still be involved in decision making. They also direct officials to consider new parameters while valuing apartments under TN Apartment Ownership Act, 2022, including quality of construction, width of the road, proximity to transport and markets, and amenities provided. All district registrars and sub-registrars have been instructed to implement the changes immediately. The department's online systems will also be updated, and revised values published in the coming weeks. Echoing similar sentiments, J M S Nagarjunan, general secretary, Alliance of Residents Welfare Associations, pointed to the wide gap between guideline and market values in places such as Nanganallur, where land sells for 12,000/sqft but the guideline rate is just 4,500. "This gap encourages black money. If guideline values are increased reasonably, —say to 9,000—it will reduce underhand dealings and reflect realistic pricing," he said, adding that the govt should also consider lowering stamp duty to benefit genuine homebuyers.