Navi Mumbai | Business Upturn

Hindustan Construction secures Rs 2,917 crore CIDCO water infrastructure contract

Business Desk — Fri, 24 Apr 2026 03:51:08 +0000

Hindustan Construction Company (HCC) has been awarded a major infrastructure contract valued at approximately ₹2,917.6 crore by the City and Industrial Development Corporation of Maharashtra Limited (CIDCO). The project, located in Raigad, involves the construction of a 22.21 km raw water tunnel and a 250 MLD water treatment plant.

The contract has been secured by the LCESPL-HCC Joint Venture, with HCC responsible for executing works worth approximately ₹1,100 crore. The project will utilise Tunnel Boring Machine (TBM) technology to design and construct the raw water tunnel, which will convey water from Kondhane Dam at Village Chochi in Karjat to the proposed water treatment plant at Village Mohope in Panvel.

In addition to the tunnel construction, the scope of work includes the design, build, supply, erection, testing, and commissioning of the water treatment plant. The contract also encompasses 15 years of comprehensive operation and maintenance under a Design, Build and Operate (DBO) model.

This initiative is a critical component of CIDCO’s strategy to enhance the long-term water supply infrastructure for Navi Mumbai and surrounding areas. It aims to ensure reliable and sustainable water availability to support urban and industrial growth in the region.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aditya Bhagchandani before publication.

Fino Payments Bank reports unavailability of MD & CEO Rishi Gupta for over 45 days

Arunika Jain — Mon, 13 Apr 2026 17:36:32 +0000

Fino Payments Bank has announced the unavailability of its Managing Director and Chief Executive Officer, Rishi Gupta, for a period exceeding 45 days due to a pending re-assessment of his fit and proper status. This development follows previous disclosures made by the bank on February 27, March 7, and March 26, 2026.

The bank has clarified that Gupta’s return to his role is contingent upon the re-assessment by the bank’s Nomination and Remuneration Committee and Board of Directors, as well as a decision by the Reserve Bank of India. In the interim, an Interim CEO has been appointed with the approval of the RBI to ensure continuity in leadership.

Despite the absence of its MD & CEO, Fino Payments Bank has reported stability in its operations. The bank has assured stakeholders that its services remain uninterrupted and that it continues to serve its customers effectively. Notably, the bank achieved its highest-ever deposit balance in March 2026, alongside strong momentum in its referral lending business, underscoring its robust fundamentals and preparedness for future growth.

This disclosure is also available on the bank’s official website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fino Payments Bank’s Chief Compliance Officer Aashish Pathak resigns

Kinjal — Tue, 31 Mar 2026 14:47:20 +0000

Fino Payments Bank has announced the resignation of its Chief Compliance Officer, Aashish Pathak, effective from March 31, 2026. Pathak tendered his resignation on March 13, 2026, citing personal reasons for his departure.

The bank disclosed this change in its senior management personnel in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation and the agreed last working date have been officially communicated to the National Stock Exchange of India and the Bombay Stock Exchange.

Fino Payments Bank has assured that all necessary disclosures related to this resignation are available on its official website. The bank did not disclose any further details about Pathak’s future plans or the process for appointing a successor.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fino Payments Bank clarifies on investigation scope and media reports

Business Desk — Mon, 16 Mar 2026 06:45:27 +0000

Fino Payments Bank has issued a clarification regarding recent media reports about an alleged expansion of a probe involving the bank. The bank emphasised that it is not under investigation by any authority other than the Directorate General of GST Intelligence (DGGI), Hyderabad.

The ongoing investigation by the DGGI pertains to certain programme managers and merchants associated with multiple banks, including Fino Payments Bank. The bank clarified that the investigation is not related to its GST compliance. Furthermore, the bank addressed inaccuracies in media reports, stating that references to court proceedings, such as the rejection of bail, are incorrect.

Fino Payments Bank also reiterated that it does not engage in or promote any gaming or betting activities, directly or indirectly, through any platform, website, or channel. The bank remains committed to maintaining high standards of governance, regulatory compliance, and transparency, and continues to cooperate fully with relevant authorities.

The bank assured stakeholders that it will continue to engage constructively with regulators and make appropriate disclosures in line with applicable laws and regulatory requirements.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Godrej Properties Gifts Free Home to Navi Mumbai Family!

Riddhima Jain — Mon, 16 Mar 2026 05:57:24 +0000

Gifts Free Home to Navi Mumbai Family to Mark its 1,00,000 Home Sales!

Mumbai, March 10, 2026 — Godrej Properties has gifted a free home to the Naina family from Nerul, Navi Mumbai, to mark the milestone of selling 1,00,000 homes.

The home is located in Godrej City, Panvel, and the initiative forms part of the company’s celebratory campaign titled “Laakhon Mein Ek”, dedicated to the 1,00,000 families who have chosen a Godrej home.

According to the company, the beneficiary was selected from among its customers through a structured process. The initiative was not a contest or lottery but a gesture of gratitude to homeowners who have contributed to the brand’s journey.

Speaking about the milestone, Pirojsha Godrej, Executive Chairperson, Godrej Properties said, “This moment is a celebration of the trust, belief, and shared dreams of one lakh families. Every key we hand over is a story of hope and every community we build reflects India’s evolving aspirations. Reaching our 1,00,000th customer fills us with pride and gratitude, and reminds us of the responsibility we carry to keep building with purpose, empathy, and integrity.”

The recipient family, Priyanka and Shyam Kumar Naina, expressed their pleasant surprise at being selected, “When we first heard the news, it took time to sink in. After 10 years of saving, this gesture opens doors we didn’t imagine possible. What makes it even more special is knowing that our children, Anirudh and Anaya will grow up in a community like Godrej City with open spaces, a supportive neighbourhood, and the kind of environment every parent hopes for!”

Also commenting on the initiative, Gaurav Pandey, MD & CEO, Godrej Properties added, “Laakhon Mein Ek is our way of celebrating every homeowner who placed their trust in us. Behind every purchase is a story of ambition, emotion, and hard work, and this initiative is a heartfelt thank you to the people who made Godrej Properties what it is today. As we look ahead, our commitment remains the same: to enable everyday joy by creating spaces where life thrives and relationships grow.”

Godrej Properties said it continues to focus on building communities centred around quality, thoughtful design and sustainability, with every project developed as a green-certified development.

Fino Payments Bank achieves highest ever total deposit balance of Rs 2,900 crores

Business Desk — Sat, 14 Mar 2026 09:29:30 +0000

Fino Payments Bank has reached a significant milestone by recording its highest ever total deposit balance of approximately ₹2,900 crores as of March 13, 2026. This achievement underscores the growing trust and engagement of customers with the bank’s services.

The bank reported a nearly 9% growth in deposit balances over the past two weeks, culminating in this record figure. Additionally, Fino Payments Bank has opened approximately 1.5 lakh new banking accounts since February 27, 2026, averaging nearly 10,000 new accounts per day.

The bank attributes this growth to its simple, secure, and technology-enabled banking services, underpinned by a new core banking platform that facilitates seamless banking experiences. Through its merchant-led phygital banking model, Fino Payments Bank continues to expand its reach, providing convenient access to formal banking services to underserved and underbanked communities across Bharat.

The bank expressed gratitude to its customers, business associates, and business correspondent network for their continued support. Fino Payments Bank remains committed to strengthening financial inclusion and making banking services accessible and reliable across Bharat.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

P N Gadgil Jewellers opens 70th store in Navi Mumbai

Business Desk — Fri, 13 Mar 2026 14:38:54 +0000

P N Gadgil Jewellers has expanded its retail footprint by opening a new store in Navi Mumbai, Maharashtra, bringing its total number of outlets to 70.

The new store is located at Grand Uran Central in Anand Nagar, Uran, Navi Mumbai, and was inaugurated on March 13, 2026, at approximately 7:00 PM. This expansion reflects the company’s ongoing strategy to strengthen its presence in key markets across India. The addition of this store marks a significant milestone for P N Gadgil Jewellers as it continues to cater to its growing customer base with a wider network of outlets.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

RPG Life Sciences reports fire incident at manufacturing plant in Navi Mumbai

Matrika Shukla — Fri, 03 Jan 2025 12:26:48 +0000

RPG Life Sciences Limited has reported a fire incident at its manufacturing plant located in Navi Mumbai, Maharashtra, on January 2, 2025, around 9:00 PM. The company confirmed that there were no casualties or loss of human life as a result of the fire. The incident occurred at one of the manufacturing blocks situated at Plot No. 25/25A, M.I.D.C Land, Thane-Belapur Road.

At present, the company is investigating the cause of the fire and assessing the extent of the damage caused. RPG Life Sciences reassured stakeholders that it has adequate insurance coverage for the affected assets. The company also stated that it is actively working to determine the financial impact of the incident.

RPG Life Sciences will continue to provide updates as the situation develops and as the assessment of the damage progresses.

For further details, RPG Life Sciences has filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing additional information on the incident.

The company has not reported any impact on production or operations at this time.

Kore Digital announces 3 key acquisitions to expand its subsidiary portfolio

Matrika Shukla — Tue, 31 Dec 2024 10:48:47 +0000

Kore Digital Limited, a leading infrastructure and telecom service provider, has announced the acquisition of a 98% equity stake in three companies, further strengthening its business operations.

The acquisitions, approved at the Board of Directors meeting on December 31, 2024, include Franken Telecom Private Limited, Wolter Infratech Private Limited, and KDL Realinfra Private Limited. These companies will now operate as subsidiaries of Kore Digital Limited, adding value and expertise across specialized industries.

Details of acquisitions:

Franken Telecom Private Limited
- Incorporated: July 8, 2024
- Industry: Telecom infrastructure services
- Investment: ₹49,000 for 4,900 equity shares (98% stake)
- Objective: Enhance infrastructure services for telecom operators.
Wolter Infratech Private Limited
- Incorporated: July 9, 2024
- Industry: Engineering and civil works
- Investment: ₹49,000 for 4,900 equity shares (98% stake)
- Objective: Gain access to specialized engineering expertise.
KDL Realinfra Private Limited
- Incorporated: March 19, 2024
- Industry: Infrastructure development
- Investment: ₹98,000 for 9,800 equity shares (98% stake)
- Objective: Strengthen collaborative opportunities in infrastructure projects.

These strategic acquisitions aim to combine resources, reduce costs, and improve operational efficiency, aligning with Kore Digital’s vision of broadening its market presence across telecom and infrastructure sectors.

Paras Defence inaugurates advanced optical systems testing facility in Navi Mumbai

Matrika Shukla — Fri, 22 Nov 2024 10:27:28 +0000

Paras Defence & Space Technologies Ltd, one of India’s leading defence engineering companies, has inaugurated a state-of-the-art optical systems testing facility in Navi Mumbai. The facility, a significant step towards establishing India’s first Optical Systems Development Park, was inaugurated by ISRO Chairman Shri S Somnath in the presence of Paras Defence Managing Director Shri Munjal Shah.

The advanced testing center will focus on hyperspectral and other optical systems designed for applications in space and defence. These technologies hold immense potential across sectors such as earth observation, navigation, homeland security, telecommunications, and automotive innovation. Hyperspectral technology, in particular, is poised to play a critical role in the $1 trillion space technology market projected by the end of the decade, with India aiming to capture 10% of the global space economy by 2030 under its new Space Policy.

Highlighting the company’s vision, Shri Munjal Shah said, “Advancing indigenous capabilities in optical systems development is crucial to India’s quest for space leadership. This facility is a milestone in our commitment to enhancing India’s self-reliance in space technology and defence engineering. With plans to invest ₹500 crore over the next few years, we aim to create India’s first advanced Optical Systems Development Park. ISRO has been our mentor and anchor customer, and we are proud to contribute to their missions.”

Shri S Somnath praised Paras Defence’s contribution to India’s space program, stating, “This facility reinforces the critical role of Paras Defence in advancing India’s space exploration and technology leadership. The new facility not only strengthens space missions but also extends the applications of optical systems to various industries. Such initiatives establish Paras Defence as a global leader in optical-electronic systems.”

Paras Defence’s initiatives align with the government’s “Vision 2047” program, which envisions India at the forefront of global space exploration and technology.

Here’s how India’s cleanest cities are preparing to contest Swachh Survekshan 2021

Shreejit Shelar — Thu, 18 Mar 2021 20:18:38 +0000

India’s Swachh Survekshan – an annual survey of cleanliness, hygiene, and sanitation – will soon release the list of cleanest cities. Like every year, several cities will be contesting for the crown of the cleanest city in India, and while the preparations are underway, here’s how last year’s top 5 cities are gearing up to win/hold their title in 2021.

1. Indore, Madhya Pradesh

Back in 2020, Indore was ranked India’s cleanest city for the fourth consecutive year by Swachh Survekshan. Now, the city intends to win the title for the fifth consecutive year by installing colorful lights on the roads, decorating walls with unique paintings, most of them are based on the swachh and swasth messages.

The crown holding city has gone a step ahead and set up stalls at Palasia intersection where car dustbins, eco-friendly straws, cloth bags, containers for making compost are given on rent, gardens across Indore have been beautified and an ‘eco mart’ where recycled plastic items are kept.

2. Surat, Gujarat

Gujarat’s cleanest city, Surat, has completely transformed itself from a garbage-strewn mess to becoming the 2nd cleanest city in India. It has adopted the message of recycling, and even introduced bottle recycling machines wherein one can dispose of bottles and enjoy rewards.

3. Navi Mumbai, Maharashtra

Navi Mumbai is ranked 3rd cleanest city in India according to the Swachh Survekshan 2020. It bagged the 7th position in 2019’s rankings, Navi Mumbai has improved its position, and this year, it plans to win by tweaking its plan. The municipal corporation of Navi Mumbai has reportedly introduced Swachh Survekshan Mascots in commercial and public areas in a bid to spread the word among citizens about the survey thereby making sure the city remains clean and adopts swachh habits.

4. Ambikapur, Chhattisgarh

Chhattisgarh’s Ambikapur is one of the oldest cities and despite its ancient foothold the city was ranked as the cleanest city in India as per Swachh Survekshan 2020. While there is no report as to how the city is planning to compete this year, it is also worth noting that Ambikapur has no dumping yards and is able to generate good income by recycling the waste. The city has put in sincere efforts in segregating at least 90% of the waste generated on a daily basis.

5. Mysore, Karnataka

Mysore ranks 5th in the list of India’s cleanest cities in 2020 and it has held on top for 2 consecutive years, and it continues to stay clean and generate minimum waste. The zero-waste plant workers ensure to segregate all the household waste into different categories which is why the city has consistently stayed a recurring name in the list of cleanest cities in India.

According to the survey conducted by Swachh Survekshan winners, Mysuru won the title of the cleanest city in 2016 and whereas in 2017, 2018, 2019, and 2020 Indore was declared India’s Cleanest City.

This year, five new performance categories have been introduced – Platinum (Divya), Gold (Anupam), Silver (Ujjwal), Bronze (Udit), and Copper (Aarohi) and these are being called ‘Prerak Dauur Samman’.