Metro Financial News

Knight Frank released its report, 'Think India Think Retail 2024'. It has an ominous warning for shopping malls across the country. 'Ghost shopping malls with vacancy rates of 40% or more rose from 57 in 2022 to 64 in 2023 across eight major cities, with larger shopping centres preferred for an outing, and online shopping taking away some old retail charms,' states the report. There was a 238% y-o-y increase, it added, in the gross leasable area (GLA) of all shopping centres in prime Indian markets in 2023, even as ghost malls rose in number. Big retail in India needs reinvention. The mall as a massive real estate complex is an American idea that goes back to a combination of consumer boom, timescape, landscape and culture that suited the West rather than India. Mall culture is changing in the West itself. If an American works five days a week, with kids to raise and without help at home in sparsely populated cities, the mall may still be the place to catch a movie or for shopping. However, land costs and rentals were not real issues in the US, compared to disposable incomes that generated suitable demand.

Tier-2 cities or non-metros are giving tough competition to top metro cities in the country in terms of infrastructure development, as a result attracting NRIs and resident Indians to invest.

Also Read: Mumbai Weather: Rain with gusty winds, dust sweep parts of Mumbai, Thane, brings relief from sweltering heat Local train services on Central, Harbour and Western railway lines are running behind schedule by at least 15 to 20 minutes. “Attention Mumbai commuters! Due to technical issues, all Western Line suburban trains are currently running behind schedule by 15-20 minutes. Please plan your journey accordingly and stay tuned for updates." “Due to sudden rains with gutsy winds, Main line and Harbour line suburban services are running behind schedule." An X user named N Sharma tagged Central railway and said that train was getting late more than one hour and there was no announcement.

BENGALURU : Food-delivery company Zomato Ltd, which turned in its first full-year profit, is now doubling down on its rapidly growing quick-commerce business Blinkit, aiming to add 100 dark stores by June. By the end of this financial year, Zomato is targeting 1,000 Blinkit warehouses, the company said, announcing its quarterly results on Monday.

Mint analysis shows. On the flip side, the Congress’ vote share declined from 26% in 2009 to 15% and 18% in the following two elections. The analysis is based on constituencies in six of India’s largest cities—Delhi, Mumbai, Chennai, Kolkata, Hyderabad, and Bengaluru—which accounted for nearly 6% of all registered electors in the 2019 election.

India’s real estate sector is experiencing a paradigm shift and transforming the landscape in tier 2 and tier 3 cities. The picture recent projections present of real estate prospects in these emerging markets is highly promising.

Real estate markets in non-metros or Tier-2 cities continue to grow by leaps and bounds, in the process outperforming many metros in terms of investment and demand growth. This massive rise in real estate investment in non-metros can be attributed to various factors.

logistics providers, who traditionally employed men as drivers, are increasingly hiring women to drive cars and commercial vehicles and deliver ecommerce orders on two-wheelers. Demand for female drivers is growing faster than that for male personnel — 20% against 14% year-on-year — though on a low base, according to data from staffing services provider Teamlease. Staffing companies and fleet operators said they are facing a shortage of female drivers to fill the growing demand. One of the reasons for this, they said, is the work from office mandate that more companies are adopting. This is leading to more women working from offices and on night shifts, and companies prefer female cab drivers for scheduled drops of these employees who work late hours, said Balasubramanian A, vice president and head of consumer and ecommerce at TeamLease Services.

₹8 crore, which is way higher than the second-class coaches of Mail/Express/Ordinary trains and EMU/MEMU trains. It was reported that Vande Bharat Metro trains will be introduced on five routes to begin with: Agra-Mathura (55km), Delhi-Rewari (83km), Lucknow-Kanpur (73km), Tirupati-Chennai (141km), and Bhubaneswar-Balasore (206km).

The Mott Capital Management founder and CEO weighs in on home price expectations and gives his market outlook.

₹230 per share from ₹170 earlier largely driven by Blinkit and has retained its ‘Buy’ rating on the stock. It values the food delivery business at ₹121 (DCF basis), Blinkit at ₹90 (DCF basis), and cash and other investments at ₹18 (book value).

fashion brands is a matter of concern as they contribute 50% of the business of Nexus Select Trust which operates 17 malls across the country with over 10 million sq ft of space, Dalip Sehgal, Executive Director and Chief Executive Officer told ET. Blackstone backed India’s first publicly listed retail Real Estate Investment Trust (REIT) is looking to invest Rs 1,000 crore in acquiring three malls in Hyderabad to take the total portfolio to 20 malls and 11 million sq ft. “The way fashion brands are doing is a matter of concern for us but other category such as electronics and beauty are growing by 18-20% and helped us in achieving the target. In fashion segment also, some of the D2C brands are doing really well so the existing brands need to reinvent and I believe the second half of the year will be better,” said Sehgal.

order inflow growth at 31% year-on-year in FY24 was ahead of its 20% growth guidance. This provides robust execution visibility. While order inflows in the March quarter at Rs56,050 crore fell 8% year-on-year, led by a fall in domestic orders due to the ongoing elections, the order book at ₹4.8 trillion was at a record high.

REC Ltd is targeting Rs 10 lakh crore of loan book by 2029-30, with 50-60% comprising conventional power generation, transmission and distribution projects, and 30% focused on the renewable energy segment, chairman Vivek Kumar Dewangan told ET.

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Bhumika Group, Rajasthan’s largest mall developer has planned to develop 300,000 sq ft of retail space under the Public-Private Partnership (PPP) model with various government authorities. The company is already developing retail space at NHPC Metro Station in Faridabad and plans to take more such space. It has entered into a joint development agreement to develop a high-street retail project spread across 550,000 sq ft in Faridabad.

Connaught Place, on Saturday was on alert after an unattended bag was discovered at N Block of the area, reported ANI. «The unattended bag at N Block of Connaught Place was checked and nothing suspicious was found inside it,» said Delhi Police. Over the possibility of a threat, the area was cordoned off with the police team present at the spot.

ALSO READ: TCS World 10K in Bengaluru: Namma Metro to start services early, traffic restrictions and more | 5 points Adding more details, the city traffic police said that the Bengaluru Metro Rail Corporation Limited (BMRCL) has already started the work to lay a 220 kV cable along the metro line. It also said that BMRCL will carry out the work from Salarpuria Soft Zone on the Ibbalur service road towards Bellandur's Centro Mall.

Mint in an interview. “Our trains, the prototype, will be ready by June 2025. After the approval of the first prototype, say in two months time, we will supply 16 sleeper Vande Bharat trains over the next 12 months with deliveries starting from the first month onwards.

Amidst the weather warnings, Dubai Airport issued advisories, urging travelers to check flight statuses with airlines due to potential delays caused by rescheduled flights. They advised allowing extra travel time and utilizing the Dubai Metro, operational until 5 AM on Friday, for smoother commutes. Emirates Airlines echoed these precautions, cautioning travelers about possible road delays and suggesting proactive measures to mitigate travel disruptions.

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