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Affordable housing, rental expansion and RERA Reforms set to define next growth phase in India's urban region: Report
India's housing sector is set for a major overhaul, driven by urbanization and policy shifts. A KPMG report highlights the urgent need for affordable housing, especially for lower-income groups, by addressing land costs and approval delays. The rise of rental housing as a formal asset class is also emphasized, alongside crucial reforms to boost trust and efficiency in the real estate regulatory framework, ensuring project completion and buyer protection.
India poised to drive next wave of global steel demand, says Lakshmi Mittal
India is set to lead global steel demand in the coming decades. Large-scale infrastructure projects, urban growth, and energy transition investments will drive this expansion. ArcelorMittal's Executive Chairman, Lakshmi Mittal, highlighted India's emerging role, comparing it to China's past growth. The company's 20th anniversary marks a new phase for the steel industry.
RBI cancels licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank
The Reserve Bank of India has cancelled the banking license of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its deteriorating financial condition. The bank's inability to meet its obligations and its lack of adequate capital and earning prospects led to this decision. Approximately 97.9% of depositors are expected to receive their full deposit amounts from DICGC upon liquidation.
Bhartiya Urban will invest Rs 1,000 crore in developing 1.5 million sq ft residential development in North Bengaluru
Bhartiya Urban is launching Nikoo Homes 8 in Bengaluru's Thanisandra corridor. This project spans 11 acres and includes over 1,000 homes. It offers a range of options from studios to luxury villas. The development has a business potential of Rs 2000 crore. Bhartiya Urban plans further launches and inventory additions across multiple locations.
Urban consumption, small caps remain top bets despite monsoon concerns: Quest Investment Advisors
Rakesh Vyas, CIO and Portfolio Manager at Quest Investment Advisors, remains positive on urban consumption, saying strong retail credit growth, tax benefits and rising disposable incomes continue to support discretionary spending despite monsoon concerns. He expects select small-cap stocks to deliver 6-7% alpha through strong earnings growth and sees Eternal as a key beneficiary of improving quick-commerce profitability. Vyas has also increased exposure to mid-sized IT firms, citing attractive valuations and long-term growth prospects.
The new man of steel! India seen to fill in the void China may leave
India Steel Industry Growth 2026: Global steel demand is shifting from China to India and Southeast Asia. India's steel consumption is low, offering significant growth potential. Unlike China's property-driven boom, India's demand will stem from infrastructure, manufacturing, and urban development. This growth will be more gradual, influenced by execution challenges and a focus on greener production.
P&G India flags pressure on consumer demand, input costs
Procter and Gamble India sees rising costs and softening urban demand, with company executives saying inflation will impact consumer spending. However, despite near-term challenges, P&G maintains a positive long-term outlook for India.
India's unemployment rate hits around one year high
India's unemployment rate has hit around one year high. Ministry of Statistics & Programme Implementation stated today that the Labour Force Participation Rate (LFPR) for persons aged 15 years and above was reported as 54.4% in May, 2026, compared to 55.0% in April, 2026. In rural and urban areas, LFPR was recorded at 56.6% and 49.8%, respectively. The year-on-year comparison shows that the overall LFPR in May, 2026 declined by 0.4 percentage points. Rural and urban LFPR also registered a decline of 0.3 and 0.6 percentage points, respectively, over the same period.
Hurdles behind India's supertall buildings & vertical ambitions
India's urban growth is rapid, yet only one building crosses the 300-meter supertall mark. Fragmented regulations and infrastructure gaps hinder taller constructions. Developers face higher costs and extended timelines for supertall projects. While supertalls offer efficient land use, the focus remains on addressing affordable housing and essential urban services for the next two decades.
Prestige unveils convention centre in Bengaluru Airport City
Prestige Group, in partnership with Bengaluru Airport City (BACL), today announced a landmark integrated destination within Bengaluru Airport City that will bring together business, hospitality, culture, and experiences in one seamlessly connected ecosystem. Anchored by a state-of-the-art convention centre, the development marks a significant milestone in the evolution of Bengaluru Airport City as a vibrant urban destination.
Bakeri Urban Development Pvt reports consolidated net profit of Rs 0.86 crore in the March 2026 quarter
Sales reported at Rs 1.88 crore
Cabinet clears Rs 2,169 crore worth Ahmedabad Metro airport extension
The Union Cabinet has approved the Ahmedabad Metro Phase 2A project. This 6-km extension will connect Koteshwar Road to the Sardar Vallabhbhai Patel International Airport. The project aims to improve urban mobility and connectivity to key development hubs. It will feature four elevated and one underground station.