Realty firm Wadhwa Group has leased nearly 33,000 square feet of office space to global investment research firm Morningstar at its commercial project in Mumbai for a total rental of ₹44 crore over a nine-year period.

Mumbai-based Wadhwa Group develops residential, commercial and township projects. It has completed more than 220 projects across Mumbai Metropolitan Region (MMR) covering 45 million sq ft area.

Its commercial portfolio includes projects such as The Capital (BKC) and Platina (BKC).

According to sources, Morningstar has taken an additional 32,551 sq ft area on lease in Wadhwa group’s Vishwaroop IT Park (VITP) project in Vashi, Mumbai.

The company spokesperson declined to comment.

With this transaction, Morningstar’s total footprint at Vishwaroop IT Park is 4.45 lakh sq ft area. The latest 9 years lease transaction is expected to generate about ₹43.54 crore in revenue for the Wadhwa Group till 2034, they added.

Spread across a plot area of 15,518 square metre, the project ‘Vishwaroop IT Park’ has a built-up area of 6.25 lakh sq ft. The commercial asset is currently fully leased. The total annual rental income of this property is around ₹75 crore.

Wadhwa Group, one of the leading real estate developers in the MMR, is preparing to launch an Initial Public Offering (IPO).

According to Knight Frank India data, India’s office market recorded its highest-ever quarterly leasing volume at 29.9 million square feet during January-March 2026 across eight major cities. This represents a 6 per cent rise from the previous peak observed in the first quarter of 2025 calendar year.

Published on June 9, 2026

Emkay Global

Target: ₹5,200

CMP: ₹4,537.60

InterGlobe Aviation (Indigo)’s management announced aggressive targets for FY30 at its CY26 Analyst Day – about 300 billion capacity (ASK), >550 aircraft fleet, about 200 million passengers, and about 3,000 daily flights, with a mid-teens FY28-30E ASK CAGR. Narrow bodies are expected to be Indigo’s core, but new configurations will be introduced.

However, the FY27 outlook is volatile and the management has guided for a broad single-digit growth in ASK year on year amid capacity rationalisation (variable cost is not met), with passenger range-bound (about 125 million).

Pricing, however, would drive earnings growth, as seen in other consumption industries. Normalisation of the West Asia sector is crucial for driving the international segment, and status of the conflict is a primary near-term determinant.

Indigo is also optimistic about the launch of XLRs (delivered two of the nine annual target), and upgrade of features with regard to meals and seats for making long-haul flights and Stretch more attractive.

The government of India’s fuel pricing support is a positive, but more reforms are required for the industry to sustain during adverse cycles.

Indigo is evaluating fuel hedging for international flights (as do competitors in Europe and Asia). We lower FY27E ARPU growth from 8 per cent to 6 per cent, but increase the yield accordingly, thus retaining our earnings estimate and TP of ₹5,200; BUY.

Published on June 9, 2026

Foreign portfolio investors (FPIs) have invested ₹8,794.743 crore in government securities under the Fully Accessible Route (FAR) after the government exempted them from income tax on interest income and capital gains arising from investments in these bonds.

According to data from the Clearing Corporation of India Ltd (CCIL), FPI holdings in FAR securities stood at ₹3.32 lakh crore on Tuesday, up from ₹3.23 lakh crore on June 3.

FAR allows non-resident investors to invest in specified Government of India dated securities without any investment ceilings.

“We can see the optimism from FPIs who nearly invested 75 per cent of the net purchase in G-secs under FAR category recorded during April & May. It also strengthens India’s case for inclusion in major global bond indices, such as Bloomberg’s sovereign bond index, whose inclusion decision was deferred earlier this year,” said Mataprasad Pandey, vice-president at Arete Capital.

The government on June 5 promulgated an ordinance amending the Income Tax Act to provide tax exemption on interest income and capital gains arising from the sale, exchange or transfer of government securities held by FPIs. The exemption is applicable retrospectively from April 1, 2025.

The move came as the government looked to attract more foreign capital into the domestic debt market and support the rupee amid external pressures.

Currently, foreign investors are subject to a long-term capital gains tax of 12.5 per cent on listed shares and bonds held for more than 12 months, while interest earned on government bonds attracts a withholding tax of 20 per cent.

The Reserve Bank of India (RBI), in its June monetary policy announcement, also expanded the universe of securities available under the FAR by including all new issuances of 15-year, 30-year and 40-year tenor government securities.

The central bank also removed limits related to short-term investment, concentration and individual securities for FPI investments under the general route.

“These measures, along with the tax benefits, provided by the government this morning should help attract foreign capital for government borrowing,” the RBI said during the monetary policy announcement.

The government securities market has been opened further to foreign investors through these measures as India seeks to deepen the bond market and facilitate greater participation from global investors.

Published on June 9, 2026