Prestige Group signs strategic deal worth Rs 2,001 crore with Abu Dhabi Investment Authority and Kotak AIF
Prestige Group on Monday announced that it has entered into a strategic deal with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The Rs 2,001 crore (~$240 million) deal, it added, is dedicated towards the development of residential projects in prominent locations across 4 cities in India. The said deal is aimed at catalysing the development of early-stage residential projects, ensuring the company’s commitment to prudent expansion and diversified growth, it said in a regulatory filing. 

From clicks to bricks: Proptech startups ride the online home-buying wave
As India’s real estate industry is poised to reach $1 trillion in revenue by 2030, significantly contributing to the nation’s gross domestic product, proptech has emerged as a catalyst helping drive that growth.

Prestige Estate Projects soars over 9% on securing landmark funding

The Prestige stock has more than doubled over the last six months (110 per cent), sharply outperforming its peer index, the Nifty Realty which logged gains of 63 per cent. The stock is up 3x over the last one year.

MCD extends deadline for geo-tagging of properties till June 30, 2024

The extension has been given as a large number of taxpayers were not able to register their properties at the MCD portal due to technical glitches or other issues, the order said.
 

'One Vehicle, One FASTag' norm comes into force
State-owned National Highways Authority of India's 'One Vehicle, One FASTag' norm, which aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, has come into force from Monday, a senior official said.

NHAI raises ₹40,314cr from monetisation
New Delhi: National Highways Authority of India (NHAI) has raised Rs 40,314 crore from monetisation of projects in 2023-24, which is the highest ever in its history and nearly 30% more than the target set by govt. This was also perhaps the maximum among all govt agencies, sources said.
 

IRB Infrastructure Trust SPVs make payment of Rs 6,111 crs to NHAI for TOT projects
IRB Infrastructure Trust SPVs pays Rs 6,111 cr to Nhai for TOT projects

Tripura set to welcome first Vande Bharat Express! High-speed connectivity on the horizon – Details inside
Union Minister Pratima Bhoumik announced on Saturday that Tripura is soon to receive its first Vande Bharat Express, a high-speed train service designed for medium distances. The Northeastern Frontier Railway is currently engaged in electrifying the tracks to facilitate this initiative.

Indian Railways registers 5% increase in its freight traffic: Officials
The growth was primarily led by coal and iron ore, which have typically been the mainstay of the railways’ freight basket.

NMDC seeks enhanced access to Ranjitpura rail yard as it looks to ramp up ops at Karnataka
New Delhi: NMDC, the country’s largest iron ore miner, has written to the Railways seeking land and exclusive rights to a rail yard that will correspond with expansion of operations at the Donimalai and Kumaraswamy mines in the Bellary region of Karnataka. In a letter to Railway Board Chairperson, Jaya Verma Sinha, the NMDC Chairman & Managing Director (additional charge) Amitava Mukherjee has sought a meeting in order to explain the need for seeking more land, particularly towards mechanising operations at a railway siding that will allow more dispatch of ore from the mines. 

Indian Railways sets new record in freight loading and electrification in 2023-24; know details inside
In the financial year 2023-24, officials reported that 7,180 route kilometers of railway tracks were electrified, marking the highest achievement in the history of the national transporter. This surpasses the 6,565 route kilometers of tracks electrified in the 2022-23 fiscal year.

Adani sold Myanmar Port just in time, the mega-project key to India’s look east policy now a white elephant
It was a smart move by billionaire Gautam Adani when he cut his losses and hastily exited from Myanmar’s key Sittwe port. He’d invested $195-million in the Bay of Bengal port. But after the 2021 military coup and rebel resistance intensified, Adani sold the project last year for $30 million to a local firm, Solar Energy. As it turns out, that looks like an excellent decision.

Adani Ports on a high: Handles 420 MMT cargo in FY24, domestic share over 90%
Adani Ports and Special Economic Zone Ltd (APSEZ) on Monday announced that it handled 420 MMT cargo (including international ports) in FY24, posting an increase of +24 per cent on-year. In this, domestic ports contributed to over 408 MMT cargo, it added. In a regulatory filing, APSEZ also stated that the company has handled its highest ever monthly cargo volumes (including international ports) of over 38 MMT in March 2024.