Axis Bank Secures Large Office Space in Mumbai

09 Feb 2024 CW Team

Axis Bank has recently leased a substantial office space of over 81,300 square feet in the Parle Product Factory Compound, located in Mumbai's Vile Parle area. This lease agreement, spanning five years, commences with a monthly rent of Rs 85.37 lakh, which is approximately 1.14 crore rupees annually. Notably, the contract includes a 12% rental escalation clause after the initial three years. The lease and rent commencement dates are set for early and mid-2024, respectively. As part of this deal, Axis Bank gains exclusive access to 81 four-wheeler parking spaces and 300 two-wheeler parking slots. The bank has also paid a security deposit exceeding Rs 5.12 crore. Despite attempts to contact them, both Axis Bank and Parle Products have not responded to inquiries. This leasing move by Axis Bank is significant in the context of India's office space market. Recent data from JLL India indicates that net office space absorption in the country's top seven cities has surpassed 40 million square feet, reaching 41.97 million square feet in 2023. This marks a notable post-COVID milestone and is the second-highest annual absorption rate, just behind the record set in 2019.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..