Real Estate News Update for May 07

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Welcome to the latest edition of ETRealty's daily newsletter, RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate.

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Commercial

Blackstone in talks to acquire Adani Realty’s BKC office tower for Rs 2,000 crore

Blackstone Group is in advanced talks to buy Adani Realty’s commercial real estate project Inspire BKC, situated on the edge of Mumbai’s bustling business district Bandra-Kurla Complex (BKC), persons with direct knowledge of the development said.

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Regulatory

NCLT appoints IRP for ATS project on finance company's plea

NOIDA: The National Company Law Tribunal (NCLT) has appointed an interim resolution professional (IRP) for Knightbridge - a luxury residential and commercial project developed by ATS in Sector 124 - after a financial services company alleged that the realtor had defaulted on debenture returns worth Rs 285 crore.

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Industry

Oberoi Realty to jointly develop 12,790 sq meters land in Mumbai

NEW DELHI: Oberoi Realty has entered into a development agreement for development and redevelopment of land admeasuring approximately 12,790 sq meters, situated at Adarsh Nagar, Worli, Mumbai.

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Allied Industries

Kamdhenu's profit grows 56% to Rs 17 crore in Q4 FY24

NEW DELHI: Steel maker Kamdhenu Ltd on Monday posted a 56 per cent rise in net profit to Rs 16.8 crore in the March quarter compared to Rs 10.8 crore in the year-ago period on the back of higher income. Its total income rose to Rs 184 crore in the period under review from Rs 168 crore in the January-March quarter of FY23.

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Industry

Arvind SmartSpaces' profit up 67% to Rs 15 crore in Q4 FY24

NEW DELHI: Realty firm Arvind SmartSpaces Ltd on Monday reported 67 per cent increase in net profit to Rs 15.49 crore for the quarter ended March on higher income. Its net profit stood at Rs 9.30 crore in the year-ago period.

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