Mahindra Lifespace Developers on Friday said its subsidiary Anthurium Developers, has entered into a joint development agreement with warehousing and logistics solutions player GKW for developing a nearly 37-acre land parcel located in Kanjur, Bhandup West, Mumbai. This land parcel has a development potential of about nearly approximately 3.6 million square feet. The project will
The central government will collaborate with the Goa government to create a framework to attract high-tech industries, including data centres and semiconductor facilities, aiming to establish a “mini Silicon Valley” in Goa, commerce and industry minister Piyush Goyal said on Friday. “In this framework, we envision developing Goa as a preferred destination for data centres
Despite the issue being flagged in many quarters, a large number of vacancies in the company law tribunals remains unfilled, resulting in a slowing of the process of insolvency resolution. This was highlighted by the Supreme Court while ordering the liquidation of grounded Jet Airways. “One another serious issue pertaining to the functioning of the
RITES Ltd, the engineering consultancy arm of Indian Railways, is aiming to increase the ratio of export in total revenue from under 1% now to 20-25% in the next three years and sustain it at that level, chairman and managing director Rahul Mithal told FE. “In the past 9-10 months, we’ve received orders worth Rs
India has the option to take up the matter of sanctions on 24 companies by the US with the World Trade Organisation (WTO) or International Court of Justice (ICJ) but is is more likely to engage in direct diplomacy with Washington to address its concerns, according to a report. Th country may seek exemptions for
While residential property sales saw a decline in Q3 of 2024, office leasing is going strong in top cities of the country. Anshul Jain, chief executive, India, Southeast Asia and APAC tenant representation, Cushman & Wakefield, shares his outlook for different property segments in an interaction with Raghavendra Kamath. What is the outlook on office
The ministry of coal has terminated the coal block development and production agreement on the Banai- Bhalumunda coal block with JSW Steel due to non-payment of performance security, the termination order available on the ministry’s website showed. As a result, the Rs 100-crore bid security submitted by the Sajjan Jindal-led steelmaker stands forfeited as damages
Vedanta Limited on Friday released its fiscal second quarter earnings report with profit at Rs 5,603 crore in comparison to a loss of Rs 915 crore posted during the corresponding quarter of FY24. It reported revenue from operations at Rs 37,171 crore, down 3.6 per cent as against Rs 38,546 crore during the second quarter
Advance tax collections from the corporate sector, other firms and individuals in the current fiscal stood at Rs 10.45 lakh crore as on Sunday, up 14.6% on year. In the corresponding period of last fiscal, these collections — a proxy of corporate profitability and the state of the economy — stood at Rs 9.11 lakh
The four new companies formed after the restructuring of Vedanta have the potential to be $100 billion firms each, chairperson Anil Agarwal has said in a letter to shareholders. He has also highlighted the potential of the natural resources sector, both in India and global economies.“While Vedanta currently contributes close to 1.4% to India’s GDP, there
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
Budget carrier SpiceJet on Monday announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse `294.09 crore into the airline. This would be done through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic move will increase the consolidated shareholding of the
