Schloss To Build Leela Hotel in Mumbai's BKC

05 Jun 2025 CW Team

Schloss Bangalore, the operator of premium hotels under 'The Leela' brand, has secured land allotment for a new 250-key luxury hotel in Mumbai’s Bandra Kurla Complex (BKC). The announcement was made via stock exchange filing on 3 June following approval from the Mumbai Metropolitan Region Development Authority (MMRDA).

The project site, measuring 8,412 square metres, has been leased to Schloss Bangalore and its consortium partners for a period of 80 years. The total lease premium amounts to over Rs 13 billion. According to the terms, 25 per cent of the lease amount must be paid within two months of the allotment offer, with the remaining 75 per cent payable over the following ten months. Possession of the land will be granted only upon full payment.

Schloss Bangalore had submitted its bid for the project in February this year. The new hotel is expected to bolster the company’s presence in India’s commercial capital, targeting high-end business and luxury travellers.

On 2 June, Schloss Bangalore made its stock market debut on the BSE at Rs 406.50 per share, reflecting a 6.55 per cent discount to its IPO price of Rs 435. Despite the initial weakness, the stock quickly rebounded, rising nearly 7 per cent to close just below its issue price at Rs 434. At closing, the company’s market capitalisation stood at over Rs 145 billion.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..