Macrotech Developers will continue to use the 'Lodha' brand while the younger brother will continue to operate under 'House of Abhinandan Lodha' brand, as per the agreements between the two brothers under the guidance of their parents.
'The final arrangement within our family was documented in our amended family agreement dated March 31, 2017. We confirm that both of you have no right of any form in the other brother's business of assets.'
In a twist in the family feud, Abhishek Lodha-run Macrotech Developers on Wednesday alleged younger brother Abhinandan's firm fabricated documents to misuse the company's brand name to further its business interests.
The other bidders included some West Asian and Russian hotel chains.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
Macrotech Developers (Lodha), the country's second-largest listed real estate company, exceeded its 2024-25 (FY25) guidance, aided by a strong pre-sales performance in the January-March quarter (Q4), driven by launches. The company had guided for Rs 17,500 crore in pre-sales for FY25 and surpassed that with bookings of Rs 17,630 crore.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
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India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
The group has tied up with property developer Ireo for an office complex and M3M Group for a residential project in Gurgaon
The Supreme Court on Monday asked Delhi Chief Minister Arvind Kejriwal and Lieutenant Governor V K Saxena to rise above 'political bickering' and discuss who could head the national capital's power regulator Delhi Electricity Regulatory Commission (DERC), saying the two constitutional functionaries should get down to 'serious work of governance' away from glare of publicity.
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
Branded residencies, designer-stamped homes have a snob value and are sold at a high premium, to willing buyers
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
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Jay Shah, son of Union Home Minister Amit Shah, will continue as BCCI secretary for his second consecutive term.
Anant National University in Ahmedabad aims to design a new future for India.
The CAB will hold its 85th Annual General Meeting on September 28, as per Committee of Administrators' (CoA) diktat.
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The second season of the celebrity reality show, Comedy Circus, is back! The show, which brought together celebrities to perform with professional comedian partners, was quite a hit.
Justice Handyala Lakshminarayanaswamy Dattu was sworn in as the 42nd Chief Justice of India by President Pranab Mukherjee on Sunday.
The Committee of Administrators (COA) on Friday assured that all six north eastern states will be playing Ranji Trophy as individual units next season with Board of Control for Cricket in India GM (Game Development), Ratnakar Shetty, given charge of their smooth integration.
India's limited-overs captain Mahendra Singh Dhoni, along with his teammates Ravindra Jadeja, Ajinkya Rahane, Suresh Raina and Ravichandran Ashwin, among others, will be up for grabs for the two new IPL teams in the draft to be held in Mumbai.
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'If enough of us take up the issue with their elected representatives, politicians will get the message.'
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
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