Union Bank of India takes over NRDA's property after loan default

CRISIL Upgrades DCCDL’s Rating to AAA (Stable)

CRISIL Ratings has upgraded DLF Cyber City Developers (DCCDL) to CRISIL AAA (Stable) from CRISIL AA+ (Stable), citing sustained strong business fundamentals, high occupancy, and an improving financial risk profile.Sriram Khattar, Vice Chairman & Managing Director, DCCDL, said, “This milestone reflects our commitment to maintaining the highest standards of corporate governance and financial discipline whilst ensuring that our assets meet global benchmarks suitable for our tenant partners.”DCCDL operates a commercial real estate portfolio of 40.4 million square feet (msf), with a 93 per ..

New Housing Supply Drops 34% in India’s Top-9 Cities

India’s residential real estate market experienced a 34% decline in new housing supply during the January-March 2025 period, with only 80,774 units launched, compared to 1,22,365 units in the same period last year, according to data from PropEquity.Among the top nine cities, Bengaluru was the only market to record an increase, with new housing supply rising 17% to 20,227 units, up from 17,303 in the year-ago period. In contrast, other major cities witnessed a significant decline. Chennai saw a 46% drop to 3,946 units, while Hyderabad recorded a 38% decline to 8,773 units. Kolkata was among t..

TBM ‘Parvati’ Begins Tunneling on Kanpur Metro Line 2

The Kanpur Metro Project has reached another milestone as Kalpataru Projects International Ltd. (KPIL) – Gulermak JV deployed its third Tunnel Boring Machine (TBM) ""Parvati"" at Rawatpur Station for Line 2. This 8.38 km corridor stretches from Agriculture University to Barra-8.About TBM ParvatiTBM Type: Herrenknecht Earth Pressure Balance (EPB) Machine (Refurbished, Ø6.5m) 7th TBM commissioned for Kanpur Metro Phase 1 3rd TBM for Package KNPCC-11, following TBMs Gomati (S-1408A) and Saraswati (S-839C)Tunneling Assignments First Task: Construct a 750m tunnel for the upline fr..