City Pune Financial News

Subscribe to enjoy similar stories. In the race to become a national brand, Puravankara Ltd, a Bengaluru-based real estate company, will set aside up to ₹2,000 crore for acquiring land in the next 12 months. The group plans to triple its land bank to about 45 million square feet from the current 15 msf of net developable area in the next three years.

hotels are coming up in India's manufacturing hubs, driven by the growing needs of business travellers for quality accommodation. Hotel brands such as Marriott, Hyatt, Orchid, Regenta, Vivanta and Ginger are setting up properties in industrial belts such as Vithalapur, Talegaon, Chakan, Bhiwandi, Pithampur, Kalinganagar, Sanand and Hosur. While visiting executives used to stay in hotels in cities close to these industrial areas in the past, increasing manufacturing activities and traffic woes are making them seek accommodation close to their factories. At Vithalapur, a five-star property, the Courtyard by Marriott and Hyatt Place, is expected to become operational within the next 12 months, underscoring the demand for premium hospitality options in this fast-evolving industrial hub over a two-hour drive from the Ahmedabad city. In the automotive town of Talegaon on the outskirts of Pune, the recently opened 100-room Fern Residency has gained traction among business travellers. Pithampur in Madhya Pradesh has seen mid-market offerings like Click Hotel and Sayaji, riding on robust corporate demand from the manufacturing sector. Chakan in Pune district and Bhiwandi near Mumbai are also attracting attention, with Ginger Hotel developing 200-room properties in both locations. These developments reflect the broader trend of hospitality players expanding to locations with significant manufacturing activity.

affluent buyers prioritising exclusivity, lifestyle enhancements, and high-end living spaces. Despite global economic uncertainties, the demand for premium real estate has remained robust, reflecting the long-term confidence of wealthy buyers in this investment segment. According to CREDAI-MCHI, the first half of FY 2024-25 witnessed an 18% growth in total sales value across India’s top seven property markets, reaching ₹279,309 crore. This growth came even as the number of units sold fell by 3%, indicating a strong preference shift toward luxury homes. Average home prices jumped to ₹1.23 crore, compared to ₹1 crore in the same period last year. Cities like Mumbai, Delhi-NCR, and Bengaluru have emerged as leaders in this segment. The Mumbai Metropolitan Region (MMR) retained its dominance with a stable average ticket size of ₹1.47 crore and a 2% rise in sales value to ₹114,529 crore. Other cities, including Hyderabad, Chennai, and Pune, also reported significant increases in average ticket sizes, highlighting a nationwide trend.

Flexible workspace provider Incuspaze is in discussions to raise a $25 million pre-IPO round as it prepares for a public listing next year. The company had recently secured $8 million (about '67 crore) in funding. «Incuspaze plans to acquire another 2 million sq ft by investing '100 crore by the end of December 2025. On the back of growing demand for flex spaces, Incuspaze is focusing on the development of new centres across Delhi-NCR, Pune, Bengaluru and Hyderabad,» said a person aware of the development.

DRA has set an ambitious target to double its revenue to Rs 1,000 crore by FY26-27, driven by new project launches and geographical expansions. The company expects to achieve Rs 500 crore in revenue in FY24-25, up from Rs 300 crore in FY23-24. To fuel this growth, DRA plans to enter the Pune market and expand further in Bengaluru by the next fiscal year. Additionally, the firm aims to solidify its position in Chennai by adding 2.7 million sq. ft. of saleable area through nine ongoing and six upcoming projects across key locations in the city.

General Upendra Dwivedi said that while moving towards the goal of 'Viksit Bharat 2047,' the army has been able to transform the idea of Jammu and Kashmir from "terrorism to tourism." While addressing an event at Savitribai Phule Pune University on "Indian Army's Role In Securing India's Growth Story," General Dwivedi said, «We are seeking avenues to bring together capacities to support lines of effort of the nation towards the goal of 'Viksit Bharat 2047'...In J&K we have been able to transform the theme of terrorism to tourism.» «When we talk about the prosperous nation 2047, two prefixes are very important — progressive and peaceful,» General Dwivedi added.

Nandan Nilekani, a fresh graduate from IIT Bombay, was uncertain about his career path. Having missed his graduate school entrance exam due to illness, he sought new opportunities in the rapidly growing computing sector. His search led him to Patni Computer Systems in Pune, where he had a life-changing encounter with Narayana Murthy. This meeting not only kickstarted Nilekani’s career but also laid the foundation for his pivotal role in India’s IT revolution.

Air India Express will start flights to Bangkok from Surat and Pune from December 20, making Thailand's capital its 15th international destination. Besides, the Tata Group carrier will commence services to Dimapur (Nagaland) and Patna (Bihar). With these new cities, the airline will be connecting a total of 51 cities across India, the Middle East and Southeast Asia. «Operations to Bangkok will commence on 20th December 2024, with direct flights connecting Surat and Pune to the vibrant capital of Thailand. Additionally, the airline strengthens its domestic network with the launch of services to Dimapur and Patna, offering daily direct connectivity between Dimapur and Guwahati, and Patna and Bengaluru and Hyderabad,» the airline said in a release on Wednesday.

Subscribe to enjoy similar stories. Beverly D’souza isn’t a die-hard Coldplay fan. A freelance social media marketer based in Mumbai, she listens to their music occasionally but doesn’t particularly seek it out.

HDFC Securities has a buy call on Kolte-Patil Developers with a target price of Rs 480. The current market price of Kolte-Patil Developers is Rs 368.6. Kolte-Patil Developers, incorporated in 1991, is a Small Cap company with a market cap of Rs 2808.36 crore, operating in the Real Estate sector. Kolte-Patil Developers' key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Land and Scrap for the year ending 31-Mar-2023.

Congress chances by embroiling himself in a 'Savarkar controversy', with Pune and Nashik courts summoning him in defamation cases. Playing the 'Adani card' to voters was like throwing firecrackers in the water.

Maharashtra excise department on Sunday revoked the permit to serve alcohol at actor-singer Diljit Dosanjh's Dil-Luminati concert in Pune’s Kothrud area, scheduled for later that evening. The decision came after objections were raised by various parties, including Kothrud's newly elected BJP MLA, Chandrakant Patil. State Excise Commissioner C. Rajput confirmed the cancellation, stating, «The state excise department has withdrawn permission to serve liquor at the event.» MLA Patil expressed strong opposition to the concert, which was set to take place at Kakade Farm, citing concerns over its impact on the local community. In a statement, he remarked, «Such events are not in line with the city’s culture. They will cause significant inconvenience to residents, including noise pollution and traffic congestion. I have urged the city police commissioner to cancel the event altogether.»

Supriya Sule should apologise for her party fielding Yugendra Pawar against his uncle and Deputy Chief Minister Ajit Pawar in the Baramati assembly seat. NCP president Ajit Pawar won from his traditional Baramati constituency, defeating his nephew and NCP (SP) candidate Yugendra by more than one lakh votes. The high-stakes contest was seen as a battle between the 65-year-old politician and his uncle, Sharad Pawar (83). Talking to reporters, NCP spokesperson Amol Mitkari said NCP (SP) leader Sule must apologise for fielding Yugendra against his uncle, just as Ajit Pawar had expressed his regret for fielding his wife Sunetra against her in the Lok Sabha elections earlier this year. Ajit Pawar, who parted ways with his uncle last year and was seeking an eighth term from this seat in Pune district, polled 1,81,132 votes while Yugendra polled 80,233.

Ajit Pawar on Saturday won from his traditional Baramati assembly constituency by defeating his nephew and NCP (SP) candidate Yugendra Pawar by more than one lakh votes.

(This story originally appeared in on Nov 22, 2024)

Maha Vikas Aghadi (MVA) alliances regarding leadership.

Pune NCP president Deepak Mankar reacted to the exit poll predictions for the state and exuded confidence in the BJP-led Mahayuti's victory saying, that the alliance will secure 180 seats and sweep all the 8 seats in Pune district. Speaking to about the exit polls, Mankar said, «The whole atmosphere stands in support of the Mahayuti in Maharashtra. We work on the ground level and that is why we know that the public supports the work that we do. It will be disclosed in these elections. I think Mahayuti will get 180 seats here. Our candidates have done good work in their constituencies. In Pune also, Mahayuti will win all the 8 seats.» Meanwhile, Pune Collector Suhas Diwase also spoke to ANI ahead of counting day and said, that the administration is fully prepared and that the necessary barricading has been completed at the counting centres.

Subscribe to enjoy similar stories. As a four-time winner of the Deccan Cliffhanger, Kabir Rachure knows what it takes to ace the 643km ultra cycling race from Pune to Goa. But the 11th edition of the race, which flags off on 30 November, features a new route and holds a number of unknownseven for experienced riders like him.

In a shocking case of cybercrime, a 59-year-old senior executive at a Mumbai-based software company lost ₹6.29 crore to fraudsters impersonating CBI officials, ToI reported. The incident, recorded as the largest online fraud case by the Pune Cyber Police, unfolded between November 9 and November 14 at the victim’s residence in Pashan, Pune. Police revealed that the crooks kept the victim under «digital arrest» for five days, using the pretext of verifying alleged money laundering transactions linked to his mobile number. «The victim, who will retire from service in the next six months, was thoroughly disturbed when he approached us with a complaint,» said Deputy Commissioner of Police (Cyber) Vivek Masal. «We took him into confidence and counselled him into lodging a complaint and registered an FIR. A police team has been formed to analyse the audio-video calls between the crooks and the victim and details of the bank accounts where money was transferred to establish the money trail.»

LG Electronics and its parts suppliers plan to invest a total of Rs 7,000 crore to build the company's third factory and create a vendor base in Sri City, Andhra Pradesh, said two industry executives aware of the development. LG Electronics will invest Rs 5,000 crore, and its Korean and Chinese parts suppliers the remainder, the executives said. LG, India's largest home appliances maker by sales, has sought 300 acres from the Andhra Pradesh government for the project which will generate over 1,500 direct jobs, the executives said asking not to be named. LG plans to produce air-conditioners, refrigerators, washing machines and televisions in the new facility for the Indian market and exports, the executives said.

Faf du Plessis, who led the Royal Challengers Bengaluru (RCB) for three IPL seasons from 2022 to 2024, was not retained by the franchise for the upcoming league. This places du Plessis alongside Shreyas Iyer, Rishabh Pant, and KL Rahul in the pool for the IPL mega auctions. Andy Flower, RCB's head coach, acknowledged du Plessis's contributions. «Last year, Faf's captaincy and leadership — in what was a really tough season, particularly in the first half — was sensational,» Flower said. «He led the revival that took us into the finals.»