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Other Developments
A curated list of other prominent stories from this day.
11:57 PMEconomic Times Realty
Bombay HC quashes PMLA case against D B Realty, its managing director
Summary
The Bombay High Court quashed the PMLA money laundering case against D B Realty and managing director Vinodkumar Goenka tied to the Maharashtra Sadan construction matter. The court held the cited transactions did not amount to proceeds of crime and noted the ED had not challenged related discharge orders for other accused.
A long-running PMLA exposure for a listed developer has been judicially closed, cutting off the
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Why it matters
It removes a major enforcement risk premium from the company and signals tougher judicial scrutiny for PMLA cases rooted in disputed real estate transactions.
Knowledge Realty Trust’s NOI rises 15% to ₹1,111.7 crore in Q1 FY27
Summary
Knowledge Realty Trust reported Q1 FY27 net operating income of ₹1,111.7 crore, alongside consolidated total income of ₹1,268.14 crore and net profit of ₹250.79 crore. The manager approved a distribution of ₹751.63 crore, or ₹1.695 per unit, for the quarter.
Distributions are being supported by a step up in NOI, not just accounting gains. This
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Why it matters
Rising NOI paired with a sizeable payout signals improving cash yield in listed Indian commercial real estate.
Lloyds Realty leases 1.82 lakh sq ft office tower in Mumbai to Smartworks
Summary
Lloyds Realty Developers leased its entire 1.82 lakh sq ft office tower, The Square in Andheri East, Mumbai, to Smartworks for 15 years. The lease is expected to generate more than ₹600 crore in rental revenue over the term.
A full building, long tenure lease shifts vacancy risk off the developer and onto the
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Why it matters
Long duration, single tenant commitments in Mumbai strengthen the investment case for office assets and flexible workspace operators.