ED seizes 401.65 acre worth Rs 8.34 billion from Emaar India & MGF

02 Sep 2024 CW Team

The Enforcement Directorate (ED) has attached immovable properties totalling 401.65 acre and valued at Rs 8.34 billion, belonging to EMAAR India and MGF Developments, the agency announced.

Of the attached properties, the assets of EMAAR India are valued at approximately Rs 5.01 billion, while those of MGF Developments are valued at around Rs 3.32 billion.

The ED's unit in Delhi has attached these properties, which consist of land located in 20 villages across Haryana's Gurugram district and Delhi.

According to the ED, both EMAAR India Ltd and MGF Developments are under investigation for money laundering in connection with license no. 97/2010, dated September 18, 2010, obtained from the Department of Town and Country Planning (DTCP) for a Residential Plotted Colony in Sector-65 and 66 of Gurgaon.

The ED initiated the investigation based on an FIR registered by the Central Bureau of Investigation (CBI) under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988, against Bhupinder Singh Hooda, the then Chief Minister of Haryana, Trilok Chand Gupta, the then Director of DTCP, EMAAR MGF Land, and 14 other colonizer companies.

Real Estate

05 May 2026

Sundaram Home Finance Reports FY26 Growth

Sundaram Home Finance reported a 15 per cent increase in net profit for FY26 to Rs 2.82 billion, compared to Rs 2.45 billion in the previous year, supported by steady growth in disbursements and expansion of its emerging business segment.Disbursements rose 5 per cent year-on-year to Rs 68.42 billion, while assets under management (AUM) grew 14 per cent to Rs 199.09 billion as of March 31, 2026.The company’s emerging business segment—comprising affordable housing finance and small-ticket loans—crossed the Rs 5.0 billion disbursement milestone, reaching Rs 5.9 billion in FY26, up from Rs 2..

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..