Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai

Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai


With estimated gross development value of Rs 5,600 cr

Mahindra Lifespace Developersannounced the acquisition of a 15-acre land parcel in Kandivali East, Mumbai. The project has an estimated Gross Development Value (GDV) of approximately Rs 5,600 crore with a development potential of around 1.8 million square feet.

Strategically located in Kandivali East, the open greenfield land parcel benefits from excellent connectivity to the Western Express Highway and existing metro corridors. The location is supported by established social infrastructure, including schools, hospitals, and retail hubs, and continues to witness strong residential absorption driven by end-user demand.

 

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First Published: Jun 20 2026 | 12:31 PM IST



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Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai

Sumeet Industries board approves rights issue of Rs 199.75 cr


Sumeet Industries has announced a rights issue for its eligible shareholders aimed at enhancing financial flexibility and supporting the Company’s strategic business priorities.

The board of Sumeet Industries has approved the terms of a rights issue aggregating to Rs 199.75 crore through the issuance of Rs 16.84 crore fully paid-up equity shares. The company proposes to deploy Rs 49 crore from the rights issue proceeds towards the acquisition and operationalisation of additional 140,000 Ton Per Annum Polyester Chips (CP) plant acquired from Nakoda in Surat, Gujarat.

The project involves a total capital outlay of Rs 90 crore; with the balance Rs 41 crore being funded through internal accruals. Expected to be recommissioned in Q1 FY27 28, the facility will strengthen backward integration and support the company’s downstream polyester manufacturing operations.

 

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First Published: Jun 20 2026 | 12:16 PM IST



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Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai

Dhruva Capital Services launches NeoMoney on Google Play Store


Dhruva Capital Services announced the official launch of its digital lending platform, NeoMoney, on the Google Play Store.

NeoMoney is a technology-enabled digital lending application developed to provide eligible customers with a seamless, secure and fully digital borrowing experience. The platform facilitates end-to-end digital loan processing, including customer onboarding, verification, loan application, approval, disbursement and repayment management through a user-friendly interface.

The successful publication of NeoMoney on the Google Play Store represents a significant milestone in the Company’s ongoing digital transformation journey and its commitment towards enhancing financial inclusion through technology-driven financial services. The application has successfully completed Google’s review and compliance requirements and is now available for download by the public.

 

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First Published: Jun 20 2026 | 12:05 PM IST



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Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai

Bharat Forge secures order worth Rs 425 cr from Ministry of Defence


For supply of gas turbine generators to Indian Navy

Bharat Forge (BFL) today signed a Rs 425 crore contract with the Ministry
of Defence (MoD), India, for the supply of Gas Turbine Generators (GTGs) to Indian Navy (IN) for onboard power generation on Kolkata class ships. The contract will be executed over a period of 5 years.

Rated at 1.25 MW, the new GTGs will replace the lower capacity units currently in service onboard. Awarded under the Buy (Indian) category of the Defence Acquisition Procedure 2020 (DAP-2020), the contract marks BFL’s entry into the marine gas turbine (GT) business and will deliver the first indigenous GT-based power plant to operate aboard Indian Naval ships.

 

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First Published: Jun 20 2026 | 12:05 PM IST



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Mahindra Lifespace Developers acquires 15-acre land parcel in Kandivali East, Mumbai

GE Power India appoints Rahul Rojal as CFO


GE Power India announced a series of senior leadership changes, including the appointment of Rahul Rojal as Chief Financial Officer (CFO), as the company strengthens its management team amid ongoing business and project execution initiatives.

The board approved the appointment of Rahul Rojal as CFO and Key Managerial Personnel with effect from 19 June 2026, based on the recommendations of the Audit Committee and Nomination & Remuneration Committee.

Rojal, a Chartered Accountant with over 16 years of experience, currently serves as Senior Financial Reporting Manager and Chief Risk Officer at GE Power India. He has extensive expertise in financial reporting, statutory controllership, enterprise risk management, investor relations, SEBI compliance and strategic transactions. Prior to joining GE Power India, he worked with DCM Shriram and PricewaterhouseCoopers.

 

In a separate move, the company appointed Vipul Sharma as Company Secretary and Compliance Officer with effect from June 19, 2026. Sharma has more than 15 years of experience across corporate governance, legal and compliance functions and was previously associated with Aye Finance as Chief Compliance Officer and Company Secretary, where he played a key role in the company’s IPO process.

The board also approved the appointment of Shrikar Thakur as Additional Director and Whole-time Director for a three-year term beginning July 1, 2026, subject to allotment of a Director Identification Number (DIN) and shareholder approval. Thakur currently serves as India New Build Leader and has over 17 years of experience across the power, infrastructure and EPC sectors, including leadership roles in India, France and the United States.

Additionally, the company approved the re-appointment of independent director Shukla Wassan for a second term of five years from November 29, 2026, to November 28, 2031, subject to shareholder approval.

Wassan is a fellow member of the Institute of Company Secretaries of India and the Chartered Institute of Arbitrators, UK. She has served on multiple boards across India, Nepal, Bangladesh and Sri Lanka and is currently an independent director at Kwality Wall’s India Ltd and India Glycols Ltd.

The appointments form part of GE Power India’s ongoing leadership succession and governance framework strengthening efforts.

GE Power India provides engineering, procurement and servicing solutions for the power generation industry and operates across thermal power equipment and services businesses.

The companys consolidated profit after tax stood at Rs 113.21 crore in Q4 FY26, down 31.07% from Rs 164.24 crore in Q4 FY25 but rose 56.54% from Rs 72.32 crore in Q3 FY26. Revenue from operations increased 18.78% YoY to Rs 316.40 crore in Q4 FY26 from Rs 266.38 crore in the corresponding quarter last year. However, revenue declined 17.95% sequentially from Rs 385.62 crore in Q3 FY26.

The stock was locked in the 5% upper circuit at Rs 1,055.25 on the BSE on 19 June 2026.

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