Business

Mittal Builders has announced a significant foray into Mumbai’s bustling real estate landscape with a Rs. 2,000 crore redevelopment initiative targeting the prime locale of Mahalaxmi. This ambitious project aims to rejuvenate an aging residential cluster by introducing modern, high-rise luxury apartments alongside premium commercial spaces. Beyond its scale, the venture underscores a larger shift within Mumbai’s real estate dynamics—where strategic redevelopment is becoming essential to meet rising urban demands.

Oyo and Yatra have formalized a strategic partnership aimed at servicing the expanding corporate travel market in India. By combining Yatra’s extensive distribution network and Oyo’s B2B-tailored accommodation offerings, the collaboration will deliver bespoke stay and travel packages to enterprises of all sizes. This synergy is timely, considering reports that India’s corporate travel sector—valued at roughly $10.6 billion—could double by 2029–30.

Adani Enterprises’ latest ₹1,000 crore bond offering has been met with extraordinary enthusiasm, securing full subscription in just a few hours on its opening day. The non-convertible debentures, designed to yield up to 9.30% annually, attracted strong interest from retail investors, high-net-worth individuals, and corporates alike. Rated ‘AA-; Stable’, the issue underscores investor confidence in the company’s credit strength and strategic growth trajectory.

Shares of Vedanta Ltd. plunged in trade after a damning report by a global short seller questioned the company’s financial disclosures and raised concerns over its debt structure. The report, which scrutinized Vedanta’s complex corporate framework and aggressive fund-raising tactics, triggered a sharp selloff, wiping out substantial investor wealth. Market participants are now reassessing the company’s fundamentals, weighing potential risks to its long-term solvency.

In a significant stride for India’s rail infrastructure and manufacturing ambitions, Tata Group and Skoda Group have entered into a joint venture aimed at producing cutting-edge railway components domestically. The collaboration seeks to bolster the ‘Make in India’ initiative by establishing a robust local supply chain for advanced rail systems, reducing import dependence, and potentially positioning India as a key export hub.

Kalyan Jewellers reported a robust 31% year-on-year increase in consolidated revenue for the first quarter of fiscal year 2025–26, reaching Rs. 5,557.63 crore despite economic headwinds and fluctuations in gold prices. The company’s India and Middle East operations, as well as its digital platform Candere, contributed significantly to the growth. With a strategic expansion plan in place, Kalyan aims to launch 170 new showrooms globally this fiscal year. Its continued push into the U.S.

Puravankara Ltd, a prominent real estate developer headquartered in Bengaluru, has secured a major redevelopment project involving eight residential societies in Chembur, Mumbai. This initiative encompasses over 12 lakh square feet across 4 acres, with an anticipated gross development value (GDV) of Rs. 2,100 crore. The project forms part of the company’s strategic expansion in the Mumbai Metropolitan Region (MMR) and Pune markets, where redevelopment is expected to contribute Rs. 7,700 crore to an overall Rs. 18,000 crore GDV.

Lodha Developers, a leading player in India’s real estate sector, reported a 10% year-on-year increase in sales bookings, reaching Rs. 4,450 crore in the first quarter of fiscal 2025-26. Despite geopolitical tensions causing a brief disruption in market activity, the company remains confident about achieving its annual sales target of Rs. 21,000 crore. Bolstered by a robust project launch pipeline and strong housing demand, Lodha is poised to sustain growth momentum through the fiscal year, underscoring its resilient market position and strategic business development efforts.

Castrol India Ltd has appointed Mrinalini Srinivasan as its new Chief Financial Officer (CFO), effective July 28, 2025, marking a significant leadership transition at the lubricants giant. With over 17 years of multinational finance experience at Procter & Gamble across Asia, the Middle East, and Africa, Srinivasan will be responsible for overseeing the company’s financial operations and supporting long-term strategic growth. She succeeds Deepesh Baxi, who exited the role in March 2025.

Travel Food Services Ltd’s initial public offering (IPO) commenced on a cautious note, securing approximately 10% subscription on its first day. The Rs 2,000 crore offer, entirely an offer-for-sale (OFS) by the promoter Kapur Family Trust, attracted bids for 13.9 lakh shares against the 1.34 crore shares on offer. While retail investors showed relatively higher interest with 14% subscription, qualified institutional buyers and non-institutional investors lagged behind at 7% and 6%, respectively.