PFC, REC Boards Approve Merger Scheme
The boards of Power Finance Corporation (PFC) and REC Limited have approved a scheme for the merger of REC with PFC, paving the way for the creation of one of India's largest infrastructure financing entities with an aggregate loan book exceeding Rs 11 trillion.The proposed merger, approved under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, envisages the amalgamation of REC, the transferor company, with PFC, the transferee company, along with their respective shareholders and creditors.The scheme remains subject to multiple approvals, including those from sha..
Puravankara Signs JDA for 6.4-Acre Bengaluru Parcel
Puravankara has entered into a joint development agreement (JDA) for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated gross development value (GDV) of Rs 10 billion. The proposed residential project will have a saleable area of approximately 0.8 million sq ft and cater to the growing housing demand in the emerging micro-market.The latest addition further strengthens Puravankara's development pipeline in Bengaluru, taking the company's cumulative GDV from acquisitions and JDAs announced in Q1FY27 to Rs 52 billion.Commenting on the development, Ashish Puravankara, Managing Direct..
Noida Airport Fuels NCR Realty Growth
The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

