Biz Updates: Institutional investment in real estate up 31%; Adar Poonawala half sharers in Dharma Productions

New Delhi| Given the strong growth of the economy, foreign investors have confidence in India’s growth story. This is the reason why the participation of these investors in Indian real estate has increased. Institutional investment in domestic real estate rose 31 percent year-on-year to $4.61 billion in the first nine months (January-September) of the current calendar year, according to a report released Monday by realty consultant Vestian. This is more than the total institutional investment in real estate in 2023. In addition, institutional investment rose by 41 per cent to $960.8 million during the July-September quarter as well. Domestic investors are also actively participating. Rapid infrastructure development across the country is providing support.

Adar Poonawala, CEO of vaccine manufacturing company Serum Institute, has now become half shareholder in filmmaker Karan Johar’s Dharma Productions. He has bought 50 per cent stake in Dharma Productions for 1,000 crore. Karan, who has been facing difficulties in running the company for a long time, has earlier been discussing this with corporate houses like Lyca Productions, Jio Studios, Saregama Studios and Adani Brothers. According to the information, even after the new partnership, Karan will remain the executive chairman of the company and Apoorva Mehta will remain the chief executive officer. The company will now focus on digital programs. Dharma Productions was founded by Karan Johar’s father Yash Johar in 1976.

Sales of Jan Aushadhi shops across the country reached Rs 1,000 crore in October this year. Earlier in December 2023, the feat was achieved. Notably, the Pharmaceuticals and Medical Devices Bureau of India had sold medicines worth Rs 200 crore in a month of September 2024. The Ministry of Chemicals and Fertilizers said, this achievement reflects the growing confidence and dependence of the people on affordable and quality medicines.

UCO Bank’s turnover increased by 13.56 per cent to 4,73,704 crore in the second quarter of the current financial year. The bank’s MD-CEO Ashwini Kumar said, gross NPAs dropped to 3.18 per cent. Operating profit stood at 1,432 crore.