News Room

Pune, 21st August 2026: Pune’s 5.46-km Swargate-Katraj Metro extension is set to enter a major phase of construction, with four tunnel boring machines (TBMs) expected to arrive in the city in November. The TBMs have been inspected at their manufacturing facility in Chennai and are currently being assembled. Preparatory work for the underground section has also started, with shaft excavation beginning at Market Yard station on Monday. A launching shaft near Swargate, opposite Nilyama Theatre, is also being prepared to receive the machines. Once they arrive in Pune, the TBMs will be assembled and lowered underground through the Swargate launching shaft. Two TBMs will operate from the Swargate side, while the other two will work from the Katraj side. The four machines will eventually converge, with the final exit planned at Padmavati station. Maha-Metro’s director of works said tunnelling is expected to progress at around 10 metres per day per machine because of the rocky strata along the route. The pace is expected to be similar to the tunnelling speed achieved during Phase 1 of Pune Metro. The TBMs will operate around 28 metres below ground level, tunnelling through rocky terrain beneath some of south Pune’s most densely populated areas. This makes the underground section one of the most technically challenging parts of the Swargate-Katraj extension. The 5.46-km corridor will connect Swargate and Katraj through an underground metro route, providing an alternative to the heavily congested road network in south Pune. The project is also expected to improve connectivity for areas such as Katraj, Kondhwa, Undri and surrounding neighbourhoods. With the TBMs scheduled to arrive in November, the Swargate-Katraj Metro project is now moving from preparatory work towards actual underground construction.

Pune, 19th August 2026: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading real estate player in Mumbai, Pune and Bangalore markets, today announced the appointment of Mr. Hrishikesh Parandekar as Chief Executive Officer, effective 24th August 2026. The appointment marks a pivotal inflection point in KPDL’s growth journey as the Company accelerates its expansion agenda across markets with a sharper focus on scale, execution and value creation. As CEO, Mr. Hrishikesh Parandekar will spearhead KPDL’s next phase of growth, driving business expansion, operational excellence, institutional strengthening and long-term shareholder value. An IIM Ahmedabad Gold Medalist, Mr. Parandekar brings over three decades of experience across real estate, investments and strategic leadership, with a strong track record of scaling businesses, driving growth and leading transformation. He joins KPDL from Alpha Alternatives, where he was Senior Partner leading Strategic Partnerships and Real Estate Investing. Earlier, he held leadership roles at McKinsey & Company, Morgan Stanley, Karvy Group, Ambit Holdings and Sugee Group, driving strategy, investments, expansion and operational excellence across organizations. He has also served on the boards of various reputed listed companies. Commenting on the appointment, Mr. Rajesh Patil, Managing Director, Kolte-Patil Developers Limited, said, “For over three decades, Kolte-Patil has built a strong platform anchored in trust, execution and market leadership. As we enter our next phase of growth, scale and expansion, Hrishikesh’s deep real estate experience, strategic acumen and institutional perspective make him very well-suited to lead KPDL forward. His appointment strengthens our leadership team as we sharpen execution, accelerate growth and drive long-term value creation for shareholders.” Speaking on the appointment, Mr. Asheesh Mohta, Head of Real Estate India, Blackstone, and Director on the Board of Kolte-Patil Developers Limited, said, “Kolte-Patil is at an important inflection point in its evolution, with a strong foundation and meaningful opportunities ahead. We are delighted to welcome Hrishikesh as CEO and are confident in his ability to lead the company through its next chapter of growth. His leadership, strategic vision, and execution capabilities align with our ambitions to further strengthen the business, expand our market presence, and build a scaled and future-ready organization.” Commenting on his appointment, Mr. Hrishikesh Parandekar, incoming Chief Executive Officer, Kolte-Patil Developers Limited, said, “I am excited to join Kolte-Patil at a defining stage in its growth journey. KPDL has a strong brand, a differentiated market position and significant opportunity to scale across markets. I thank the Board for its trust and confidence. My focus will be on driving disciplined execution, accelerating growth, strengthening operational performance and building a scalable, high-performing organization that delivers sustained long-term value for all stakeholders.”

Thane, 19th August 2026: Thane’s slum redevelopment projects are set for a push towards faster execution, with Mumbai Metropolitan Region Slum Rehabilitation Authority (MMR SRA) CEO Saurabh Rao directing officials to remove procedural delays and improve coordination between departments. Rao chaired a high-level review meeting in Thane to assess ongoing, completed, pending and proposed slum rehabilitation projects across the region. During the meeting, officials reviewed administrative processes, pending litigation, new project proposals and the total land area currently under redevelopment. Rao directed departments to speed up approvals and execution while ensuring better coordination with the Thane Municipal Corporation’s Cluster Development Cell. The focus, however, will not be limited to providing rehabilitation housing. Rao said redevelopment should also include better civic infrastructure and essential public amenities to improve living conditions for residents. To make the process more transparent and accountable, every MMR SRA department has also been directed to prepare Standard Operating Procedures (SOPs). The aim is to create a more streamlined system and reduce delays in project execution. The review meeting was attended by senior officials including Secretary Kalpana Jagtap, Finance Controller Kanchan Tawade and Deputy Chief Engineer Rajkumar Pawar. The latest move comes as the authority looks to make the redevelopment process more efficient, transparent and focused on the needs of residents.

Mumbai, 19th August 2026: Mumbai’s real estate sector is seeing more interest from major corporate groups, with several large companies now entering a space that has traditionally been dominated by real estate developers. Oberoi Realty CMD Vikas Oberoi has welcomed the entry of these corporate giants, saying it could bring more credibility to the real estate industry. “I would say it is great; finally they recognise real estate as an industry, and it will only bring more respect to the business,” Oberoi said. At the same time, Oberoi said that being a larger company does not necessarily confer a cost advantage in real estate. He compared the sector with industries such as cement and petrochemicals, where scale can significantly bring down costs. “In real estate, in any part of the world, you’ll have very small, large and very large developers, and they all compete in the same space,” he said. According to Oberoi, larger developers can also end up spending more to maintain the quality of their projects, while smaller developers can continue to find their own space in the market. The shift is particularly visible in Mumbai’s redevelopment sector. In May 2026, major names including Adani Realty, Lodha Developers, JSW Realty and a Reliance Industries-led consortium were among the companies competing for large cluster redevelopment projects offered by MHADA. Reliance Industries’ real estate arm, Reliance 4IR Realty Development, subsequently won the redevelopment rights for the 101-acre Juhu Lane-Gilbert Hill slum cluster in Andheri. Vedanta has also entered the sector through Vedanta Property Platforms Ltd, a wholly owned company focused on real estate. Oberoi believes the ongoing global uncertainty could also create opportunities for businesses. Speaking about the impact of major disruptions, he drew a comparison with the period following the COVID-19 pandemic and referred to it as a “spring effect”, where a period of slowdown can eventually be followed by a strong recovery. “Whatever COVID-19 did to hold back, it was a spring effect,” he said. He added that despite wars, geopolitical tensions and other global disruptions, economies have continued to recover, creating opportunities for businesses that are willing to move forward during uncertain periods. Oberoi Realty has also been expanding beyond Mumbai. The company entered the Delhi-NCR market with its first project, Three Sixty North, in Gurugram, which was launched on June 29. Located on Golf Course Extension Road in Sector 58, the project is spread across 14.8 acres and involves an investment of around ₹6,000 crore. The development will have seven towers, with the first phase comprising more than 800 residences across six towers. Prices start at ₹18 crore, excluding taxes, with options including 3 BHK + studio, 4 BHK + studio, duplexes and penthouses. The project will also feature a club along with around 2 lakh sq ft of retail space, including cafes and food outlets. With more corporate groups entering real estate and developers expanding into new markets, Mumbai’s property sector is seeing a broader mix of players competing across redevelopment and premium housing projects.

Mumbai, 17th August 2026: Bollywood megastar Amitabh Bachchan has leased three floors of a commercial building in Mumbai’s Andheri West to nutrition brand TruNativ F&B Private Limited for a monthly rent of ₹33 lakh, according to property registration documents accessed by Zapkey. The property is located in the Signature building on Link Road in Oshiwara, Andheri West, and covers a combined carpet area of around 8,428 sq ft. The five-year lease commenced on August 15, 2026, with the agreement registered on August 7. At ₹33 lakh per month, the rent works out to approximately ₹392 per sq ft based on the carpet area. Over the five-year lease period, the total rental value is estimated at ₹21.88 crore, according to the registered leave and licence agreement. The agreement also gives TruNativ exclusive rights to nine designated parking spaces at the building. The company has paid a security deposit of ₹1.98 crore, while the agreement includes a 5% annual escalation in rent. The latest deal adds to Bachchan’s growing commercial real estate portfolio in Mumbai. In 2023, the actor had leased four office units in Mumbai’s Lotus Signature building to Warner Music Pvt Ltd for ₹17.30 lakh per month. That lease commenced in March 2024 and included 12 dedicated parking spaces. Bachchan has also made significant investments in real estate outside Mumbai. In March 2026, he purchased a 2.67-acre land parcel in Ayodhya for ₹35 crore from The House of Abhinandan Lodha, marking his third investment in the city with the developer. Neither Amitabh Bachchan nor TruNativ has commented on the latest lease agreement so far.

Pune, 17th August 2026: To combine networking, building and strengthening one’s own business, Dream Works Realty, Bavdhan organised Chai Pe Charcha at X90 Premium studios, Baner. Chai Pe Charcha is a business meetup event, with business owners and givers getting a chance to interact one-on-one, expanding enterprises and discovering new opportunities. The event was attended by professionals from several industries, and walks of life, like, Varsha sachin kadam, CEO, School of Bakery and Culinary Arts; Jalvi Diwanji, Zonal Head, Urban Money Pvt. Ltd.; Sabir Suttar, Director, Cool Point Refrigerators; Sarvesh Deshmukh, Director, Wooditalia India Pvt. Ltd.; Sayali Nijampurkar, Director, Rakhi Interiors; Mahesh Pardeshi, Director, Nevis Software Solutions Pvt. Ltd.; Yogesh Deshpande, Founder, ASPIRE BUILDCON; Nitesh solkar, Founder, Moryaa Caterers; Pravin Hebare, Director, Fairsys Infotech Pvt. Ltd.; Murtaza Nomani, Founder, Visionary Service; Omkar Amle, CEO, Asthapana Training and Consultancy Services; and Awani Kulkarni, Partner, Eventistry Management. The agenda of the event was for business owners to pitch their businesses and USPs to the attending guests. Guests and Business Founders, who attended the event were- Sagar Mutha, Concept Designer and PMC, X90 Premium Studios; Ria Mutha, Architect and Chaitanya Raje, Co-founder of Urban Nest Inside Magazine, a realty ecosystem magazine, dedicated to spotlight real estate, architectural and interior designing projects happening all across. The expected outcome of the event was to carve fruitful partnerships between the attending members themselves, as well as, with the Guests. According to Viraj Bhagwat, associate partner at Dream Works Realty and one of the evening’s organisers, “Our expectations were set on helping our members and guests connect with the people who can collaborate and create the best possible results. By the end of the event, there were three leads generated and confirmed from the gathering and we can only hope for many more to come.” Concluding around 4 pm, Chai Pe Charcha by Dream Works Realty, crafted an atmosphere of collaboration and expansion, with business opportunities freely flowing through the room, waiting for one of those present to bring them to fruition. X90 Premium studios, the venue provider for the event, in Baner, is a series of studio apartments with ‘ready for possession’ units. The studios provide occupants with timeless interiors and cost-effective construction. As the event came to a close, Chai Pe Charcha successfully brought together professionals, entrepreneurs and industry leaders under one roof, turning conversations into potential collaborations and business leads. With a focus on meaningful connections and mutual growth, Dream Works Realty’s initiative highlighted the value of creating spaces where businesses can connect, collaborate and grow together. The three confirmed leads generated during the evening marked a promising start, with many more opportunities expected to emerge from the connections made at the gathering.