Nexus Select Trust To Acquire Diamond Plaza Mall, Kolkata

10 Apr 2026 CW Team

Nexus Select Trust has agreed to acquire Diamond Plaza mall in Kolkata for Rs 3.475 billion (bn). The announcement was made on April nine, 2026 and identified the asset as a retail mall in the city of Kolkata. The purchase consideration was specified as Rs 3.475 bn, reflecting the conversion of the amount originally stated in crores. The transaction price was presented in the company statement without further financial breakdown.

The mall will be added to the trust's portfolio of income producing retail assets and is expected to broaden its geographic footprint in eastern India. The announcement noted the acquisition concerns a developed retail property but did not disclose details about gross leasable area, tenant mix or current occupancy levels. Observers said such information is typically necessary to assess potential revenue generation and long term yield from retail properties. Market participants will seek clarity on leasing arrangements and future capital expenditure requirements for the asset.

The transaction will be completed subject to customary approvals, statutory clearances and any third party consents required by law and contractual arrangements. The trust indicated that it will follow statutory procedures and provide updates as the deal progresses. No timetable for closing was specified in the brief notice and the trust did not detail the financing approach for the purchase.

The acquisition occurs amid continued institutional interest in organised retail assets as owners seek stable rental streams and portfolio diversification. Analysts will watch for subsequent disclosures on operating metrics and integration plans that may influence investor assessments of the trust's income profile. Investors will consider the effects on distributable income and portfolio quality when the trust files further disclosures. The trust said it will communicate material developments to stakeholders in due course.

Real Estate

10 Apr 2026

Ekta Victoria Brings Boutique Living to Bandra West

Ekta World has unveiled Ekta Victoria, a boutique residential development on St Alexious Road in Bandra West, one of Mumbai’s most premium neighbourhoods. Located close to Pali Hill, the project combines colonial architectural influences with contemporary luxury living. The 11-storey tower is designed to bring a distinctive visual identity to the Bandra skyline while offering residents both tranquillity and urban connectivity. The project has received its RERA registration and is expected to be ready for possession in 2028.The development offers two- and three-bed residences ranging from 904..

NAREDCO Maharashtra Backs Rental Housing Push

Rental housing must be incentivised through tax reliefs and policy reforms to make ‘Housing for All’ achievable at scale, said Dr Niranjan Hiranandani, NAREDCO and Managing Director, Hiranandani Group, at NAREDCO Maharashtra’s recent Change of Guard Ceremony in Mumbai.At the event, Kamlesh Thakur, Founder and Managing Director, Srishti Group, took over as President of NAREDCO Maharashtra from Prashant Sharma. The new leadership outlined an inclusive agenda centred on policy advocacy, transparency and sectoral growth.NAREDCO Maharashtra also launched the ‘NAREDCO ONE’ digital app to b..

Polycab Opens Quick Service Depot in Amritsar

Polycab India has expanded its distribution infrastructure with the launch of a new Quick Service Depot in Amritsar.The move is aimed at strengthening the company’s supply chain and improving delivery speed, service responsiveness and market reach across Punjab and Jammu.Spread across about 15,000 sq ft, the depot will support the distribution of Polycab’s product portfolio, including wires and cables, lighting, fans, switches, switchgear, conduits and pipes, and solar products. The facility is expected to enable faster order fulfilment, improve product availability for channel partners an..