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Delhi Birla Cotton Mills to be redeveloped into residential mixed use project

Adventz Group firm Texmaco Infrastructure and Holdings Limited has partnered with US-based realty firm Hines, HDFC Capital, and Conscient to develop a 10-acre mixed-use project on the site of the former Birla Cotton Mills in Delhi's Kamla Nagar. All the partners will jointly develop 30 lakh square feet of housing and retail space on this land parcel owned by Saroj Kumar Poddar-led Adventz Group firm Texmaco Infrastructure and Holdings. The investment to develop the mixed-use project and the total revenue potential were not disclosed. Akshay Poddar, chairman of Texmaco Infrastructure and Holdings, said the company had a century-long legacy of excellence and community development. "This land parcel, owned by our group for over 100 years, required the right development partners to realise its full potential. Hines and Conscient bring a unique combination of global expertise and deep local market knowledge, making this an ideal collaboration. All the partners are committed to delivering a world-class development that honours Delhi's heritage. Hines' India country head Amit Diwan said the company had partnered with Adventz Group to enter the Delhi residential market. The project will also address the serious lack of Grade A retail space in the region. With a presence in key sectors such as fertilisers, engineering, infrastructure, real estate, and consumer durables, Adventz Group is a USD 3 billion enterprise with a nationwide footprint, nine major manufacturing units. It has developed many projects in many Indian cities, including Gurugram. City-based Conscient Infrastructure Private Limited has delivered more than 12000 homes across Delhi- NCR, Dehradhun and Goa. 
 

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Madras HC says government to decide on metro extension to Melur 

Madras high court, which was hearing a plea pertaining to extending the metro rail project in Madurai to Melur, on Tuesday, observed that it would be open to the govt toconsider the request on merits and in accordance with law. The court was hearing a public interest litigation filed by an advocate, B Stalin. The petitioner stated that the govt came forward to introduce metro rail services in Madurai to resolve the traffic problems and boost connectivity. Chennai Metro Rail Limited (CMRL), which was appointed as the implementing agency, completed the work of preparing a detailed project report. The petitioner said that according to CMRL, the proposed plan covers a The petitioner said that according to CMRL, the proposed plan covers a dista nce of 32km with 27 stations from Othakadai to Thirumangalam. Of the 32km stretch, 27km would be elevated track and 5km would be underground track. The project is implemented at the cost of 11,360 crore. The authorities failed to consider Melur region where there are several commercial establishments. There is huge traffic congestion from Othakadai to Melur road stretch, which has also resulted in several accidents. The court would not venture into the matter by directing the govt to consider such a request. It is open to the govt to consider his representation on merits and in accordance with law, the judges observed and closed the petition.
 

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RBI supersedes boards of Aviom India Housing Finance over governance payment defaults

The RBI on Monday superseded the board of Aviom India Housing Finance Pvt Ltd owing to governance concerns and defaults in meeting various payment obligations. The Reserve Bank has appointed Ram Kumar, ex-CGM of Punjab National Bank, as the Administrator of the New Delhi-based company. The action has been taken basis recommendation of the National Housing Bank (NHB). The Reserve Bank intends to shortly initiate the process of resolution of the company under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The RBI would also apply to the NCLT, New Delhi, for appointing the Administrator as the Insolvency Resolution Professional.
 

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HDFC Bank leases 4 lakh sq ft office space in Mumbai

HDFC Bank has picked up over 4.50 lakh sq ft office space spanning across a total seven floors in a commercial tower in Mumbai’s western suburb Andheri east through a long-term lease of over 10 years. The mega lease deal will see the bank making a total rental payout of over Rs 1,020 crore including other charges through the entire term of the lease to the project developer Runwal Realty. The lease agreement includes a clause to escalate rentals by 15% after every 36 months. The lease period commenced from January 21 and the pacts provide for a fit-out period of 180 days. The deal concluded through three separate agreements attracting stamp duty of over Rs 116 crore and the same was registered on January 27. The bank has, however, decided to keep Ramon House, the erstwhile headquarter of HDFC out of this monetization exercise. ET’s email queries to HDFC Bank and Runwal Realty remained unanswered until the time of going to press. The Indian office property market has experienced remarkable growth in recent years, fuelled by a robust economy and increasing demand from both domestic and international companies. This growth can be attributed to several factors, including a steady rise in economic activity, the expansion of multinational corporations into India, and the thriving startup ecosystem. Additionally, the country's growing prominence as a global outsourcing hub and its large talent pool have further boosted the need for high-quality office spaces in key metropolitan cities and emerging business hubs.
 

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PNB Housing Finance net profit rises 42 percent in Q3 FY25

PNB Housing Finances has reported a growth of 42.79 percent in its net consolidated profit during the quarter ended December 31, 2025. Its profit after tax stood at Rs 483.27 crore in Q3 FY25 as against Rs 338.44 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 1,943.11 crore in Q3 FY25, a growth of 10.66 per cent from Rs 1,756 crore it recorded in the similar quarter last year. Girish Kousgi, managing director & CEO of the company said, "Our affordable segment is performing well and has delivered robust disbursement growth of 127% year-on-year to Rs 920 crore during the quarter. The portfolio asset quality continues to improve with Gross NPA at 1.19% as on December 31, 2024. The company received NHB refinance sanction of Rs 5,000 crore and another ECB sanction of USD 100 million in Q3 FY25." Retail disbursement grew by 31% year-on-year to Rs 5,380 crore during Q3 FY25. Affordable and emerging market segment contributed 38% to the retail disbursement. Gross NPA declined by 54 bps to 1.19% as on December 31, 2024 as compared to 1.73% as on December 31, 2023. Cost of borrowing was at 7.83%, spread on loans was at 2.29% and yield was at 10.12% in Q3FY25. The disbursements grew by 29.9% year-on-year to Rs 5,380 crore, loan asset grew by 15.4% year-on-year and asset under management (AUM) grew by 12.1% year-on-year during Q3 FY25.
 

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Max Estates M3M group among top bidder in Noida authority commercial land auction

Max Estates and M3M group are among the developers who have emerged as the highest bidder for commercial land parcel auction by the Noida authority, fectching then over rs 1500 crore. According to Noida authority, Max estates has emerged as the highest bidder for the biggest plot of 41,835 sq metre plot for over rs 700 crore which has 40% residential area as well. M3M India has won the bid for 23,570 sq metre plot for over rs 400 crore. Another 24,000 sq metre plot has been auctioned for rs 400 crore to Mangalam group and a small plot of 812 sq metre has received  the winning bid from Vertex constuction. All the land parcels are for commercial development and might have retail and office complex. 
 

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Nuvama and Cushman & Wakefield Joint venture raises rs 1700 crore

Nuvama Asset Management, the alternatives focused asset management arm of Nuvama Wealth Management, and global real esate services firm Cushman & Wakefield joint venture has raised about rs 1700 crore through the first close of its maiden real estate fund. The fund has raised the money from domestic investors including high net worth individuals and family offices and will make investments in the Indian commercial real estate sector, a market historically dominated by global institutional investors. The Prime Offices Fund will focus on Grade A offices across India’s top six markets including Mumbai, Bengaluru, the National Capital Region, Pune, Chennai and Hyderabad. These markets account for more than 70% of the leasing activity in the country. This category-II alternative investment fund (AIF) with a tenure of six years is expected to help the joint entity invest in office assets worth over Rs 6,000 crore with the help of project-specific leveraging. The complete fund corpus is expected to be deployed over the next two years and the overall portfolio size target is 5-7 million square feet across India, The appetite for Indian real estate assets among institutional investors continues to be robust, led by office space demand on the back of steady growth in the economy. In addition to large and established domestic investors, global funds such as the Blackstone Group, Brookfield Asset Management, GIC, Xander,CPP Investments, Warburg Pincus and Goldman Sachs have been making investments in the sector. 
 

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Eco Box Industrial Parks acquires 50 areas of land in Chennai

Eco Box Industrial Park a newly formed of Logicap Advisors, backed by Alta Capital, has acquired 50 acres of land for greenfield logistic asset development in Chennais Mannur locality on the first land deal this year. The Company is planning to undertake industrial and logistics development spread over 1.2 million sq ft with an investment of over rs 400 crore. The project located three kms state highway 50 will cater to the increasing demand for modren industrial and logistics facilities. Eco Box Industrial Parks has also assumed management of the recent acquistions by Logicap of 3.36 million sq ft of industrial Parks has also assumed management of the recent acquisitions assets from IndoSpace in Ranjangaon near Pune and Sri City near Chennai. With the addition of the Mannur site, EcoBox’s portfolio now totals 4.8 million sq ft of managed space since its formation in 2024. Founded by Siddhartha Gupta in 2021, former MD of Blackstone India, Alta Capital is the sole operating partner of Rava Partners in India. Rava Partners is the real estate division of Singapore’s Hillhouse Investments. Logicap Advisors, the logistics arm of Alta Capital, is among the fastest growing logistics infrastructure companies with a total portfolio of 13 million sq ft, fifth largest in India. EcoBox Industrial Parks, a newly formed operating platform of Logicap Advisors, backed by Alta Capital, has acquired 50 acres of land for greenfield logistic asset development in Chennai’s Mannur locality in the first land deal this year. Logicap Advisors, the logistics arm of Alta Capital, is among the fastest growing logistics infrastructure companies with a total portfolio of 13 million sq ft, fifth largest in India. Strategically located in Tamil Nadu’s growing industrial ecosystem, the Mannur site acquired by EcoBox Industrial Parks has connectivity to key industrial corridors and Chennai’s manufacturing base. The project will be designed to support industries such as e-commerce, third-party logistics, and light manufacturing, strengthening the region’s supply chain infrastructure.
 

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