Page 5 - Hyderabad

CorporatEdge raises Rs 100 cr equity fund from Carpedium Capital for growth

CorporatEdge, which provides flexible workspaces to companies, has raised Rs 100 crore from private equity firm Carpediem Capital for expansion of its business. In a statement on Thursday, CorporatEdge said the company plans to deploy Rs 350 crore, which includes Rs 100 crore equity infusion. The company will use the funds along with internal accruals to drive expansion across the key markets in India and the Middle East. In India, the company plans to strengthen its presence in Delhi-NCR and Bengaluru while strategically expanding into new markets such as Mumbai, Pune, Hyderabad, Chennai, and Ahmedabad. During the second phase of growth, CorporatEdge will extend its presence into tier 2 cities such as Lucknow, Chandigarh, and Kolkata. "By FY30, the company targets operating 50 centres across 10 cities, with a total footprint of over 1.5 million sq ft," it said. In the immediate term, the company will soon start two centres, spanning 50,000 square feet each, in the next quarter a

Singer Kalpana Raghavendar hospitalised after suspected suicide attempt

Telugu playback singer Kalpana Raghavendar has been hospitalised after a suspected suicide attempt at her Hyderabad residence. The reason behind this extreme step is still not known

Telangana govt enforces Telugu as compulsory subject in all schools

An official statement on Tuesday noted that the previous BRS government had not fully enforced the law due to unspecified challenges

Amgen opens $200 million technology and innovation hub in Hyderabad

The facility, which occupies approximately 524,000 square feet across two towers in HITEC City, will focus on harnessing AI, data science, and digital innovation to accelerate research and development

Drugmaker Amgen to invest $200 million in India site: CEO Robert Bradway

Amgen announced its plans to open a "technology and innovation" site in India last year that is focused on increasing the use of AI and data science to support development of new medicines

Bengaluru led city-wise box office revenue and footfalls in 2024: Report

Mumbai remained the top city across most top-performing movies, irrespective of language, the report added

Telangana CM urges global-standard development for Hyderabad's core area

Telangana Chief Minister A Revanth Reddy has directed officials to draw up plans to develop the 'core urban area' inside Hyderabad's Outer Ring Road (ORR) on par with international standards. He also instructed them to provide improved civic amenities to citizens. Reddy who held a meeting with officials suggested that a drone survey already initiated as a pilot project be conducted across the 'core urban area', an official release said Thursday night. He instructed officials to collect complete details regarding houses in the city, the supply of drinking water and electricity, drainage systems and other infrastructure. This, he said will help ensure the provision of basic amenities and facilities without disruption. He also suggested seeking assistance from Google if necessary to manage traffic in the city. Reddy approved the construction of flyovers at seven high-traffic junctions and instructed officials to invite tenders soon for the project. The chief minister also directed .

Microsoft opens campus in Hyderabad, partners with state govt for AI growth

Telangana Chief Minister A Revanth Reddy on Thursday inaugurated a new campus of Microsoft as the company celebrates its journey of 25 years in Hyderabad. The state-of-the-art 1.1 million sq ft LEED-certified building at Gachibowli, the city's IT hub would house 2,500 additional employees. Microsoft employs over 20,000 professionals in India over half of which work in Hyderabad. With the launch of the new building, Microsoft plans to hire another 4,800 employees, an official release said. On the occasion, Microsoft also announced another landmark initiativepartnering with the Government of Telanganato impart AI training to over 1.2 lakh people in the state. Under the first programme ADVANTA(I)GE TELANGANA, Microsoft is launching an AI Foundations Academy to introduce AI education to 500 government schools benefiting 50,000 students, it said. Additionally, the AI-Industry Pro program will upskill 20,000 industry professionals across Telangana. The third programme AI-Govern initia

Hyderabad industrialist killed by grandson over property: All we know

VC Janardhan Rao, who was Chairman and Managing Director of the Hyderabad-based Veljan Group, was stabbed to death by his grandson, K Kirti Teja

GHMC council meeting approves annual budget of Rs 8,440 crore for FY26

Amid protests by BRS corporators, the Greater Hyderabad Municipal Corporation (GHMC) on Thursday approved an annual budget of Rs 8,440 crore for 2025-26. The budget was approved during the GHMC council meeting, presided over by Mayor Vijaya Lakshmi R Gadwal. The BRS corporators, who held placards, sought debate on issues raised by them, also alleging negligence of city's development by the ruling government, which was countered by the Congress members. As attempts to make the BRS corporators resume their seats failed, the Mayor directed marshals to escort the former out. The BRS members, who were raising slogans, were taken to different police stations. In a post on social media platform 'X', BRS Working President K T Rama Rao condemned the party corporators being taken away by police "for questioning the Congress government's negligence of Hyderabad". BJP Lok Sabha member Eatala Rajender, who attended the meeting as an ex-officio member, alleged that contractors are not coming .

Mindspace REIT buys commercial asset in Hyderabad for Rs 2,038 crore

Property in city central business district will 'enhance portfolio', says Mindspace

Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr

Realty firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 18.2 lakh office space in Hyderabad, at an enterprise value of Rs 2,038 crore as part of its plan to expand rent-yielding portfolio. Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs 613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at 'Commerzone Raidurg', located at Raidurg, Hyderabad, from the shareholders of Sustain. The office space has been leased to Qualcomm. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08

Mindpsace REIT acquires commercial complex in Hyderabad for Rs 613 crore

Realty firm Mindspace Business Parks REIT has acquired 18.2 lakh commercial area in Hyderabad for Rs 613 crore to expand its rent-yielding portfolio. Mindspace REIT, which is listed on stock exchanges, will acquire 100 per cent equity of Sustain Properties Pvt Ltd, which owns this 18 lakh square feet area. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at Commerzone Raidurg, located at Raidurg, Hyderabad. The deal value is Rs 612.9 crore. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08 per unit to the shareholders of Sustain Properties as consideration for the transfer of their 100 per cent equity ...

Nine people held in illegal kidney transplantation racket in Hyderabad

Nine people were arrested in connection with an alleged illegal kidney transplantation racket at a private hospital, the police said on Saturday. The case was registered on January 21 following a complaint from a health department official. According to a police release, teams from the Rachakonda Commissionerate, in coordination with the District Medical and Health Officer (DMHO) of Ranga Reddy district, busted the racket on January 21 based on credible information. The operation targeted the hospital's management, which was allegedly involved in conducting illegal kidney transplants at Saroor Nagar. During the inspection, four individuals were found at the hospital, including two kidney donors from Tamil Nadu and two recipients, it said. The recipients had already undergone kidney transplant surgeries and were receiving post-operative care. All four were later shifted to the state-run Gandhi Hospital for further medical treatment. Following the inspection, health department offi

Centre pledges Rs 488 crore for enhanced power grid resilience in Telangana

The Centre on Friday assured support to Telangana to enhance the "resilience of the power grid" and ensure reliable electricity supply across the state. As per an official statement Friday, Union Minister for Power Shi Manohar Lal has assured support for nine new schemes under the Power System Development Fund with a total investment of Rs 488 crore. During a review meeting held with the Chief Minister of Telangana and state officials, the Minister emphasized the importance of the state government liquidating its legacy government department dues to be paid to DISCOMs as per the committed trajectory and for ensuring timely payment of current dues, Ministry of Power said in a statement. "The Minister assured support for nine new schemes under the Power System Development Fund, with a total investment of Rs 488 crore, aimed at enhancing the resilience of the power grid and ensuring reliable electricity supply across the state of Telangana," it said. To assist this, Lal said the Centr

CapitaLand announces Rs 450 cr investment in new IT park in Hyderabad

CapitaLand Group, a real estate investment and development company headquartered in Singapore, has announced a Rs 450 crore investment to develop a state-of-the-art 1 million square foot IT park in Hyderabad. The announcement was made following a high-level meeting in Singapore, attended by Telangana Chief Minister A Revanth Reddy, IT Minister D Sridhar Babu, state officials and senior CapitaLand executives, including CapitaLand India Trust Management Pte. Ltd CEO & ED Gauri Shankar Nagabhushanam, according to an official release on Sunday. Chief Minister Revanth Reddy welcomed the investment decision and described it as a milestone in reinforcing Hyderabad's position as a leading business and technology hub. The upcoming project is part of CapitaLand's broader development pipeline in Hyderabad. This new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities, it said. Gauri Shankar Nagabhushanam said: ..

Court relaxes Allu Arjun's bail conditions, allows him to travel abroad

In a major relief to actor Allu Arjun, a court here has relaxed the conditions of his bail in the 'Pushpa 2' stampede case, exempting him from appearing before the investigating officer every Sunday. The court also permitted him to travel abroad to specified countries, with the condition that he must undertake to appear before the SHO of the Chikkadpally police station as and when required. He has been directed to inform the SHO of his travel schedule for each trip and provide details of his place of stay in the destination country until the charge sheet is filed. The remaining bail conditions remain unchanged, the court noted in its order dated January 10. The court's decision followed a petition filed by the actor seeking relaxation of the bail conditions. Previously, while granting regular bail to Allu Arjun on January 3, the court had instructed him to appear before the investigating officer every Sunday between 10 am and 1 pm for two months or until the filing of the charge .

US pharma major Eli Lilly to establish second Indian GCC in Hyderabad

Company plans to employ 1,000-1,500 skilled professionals; GCC to focus on automation, AI

Eli Lilly to set up global capability centre in Hyderabad, hire 1K people

Pharma major Eli Lilly and Company on Thursday said it plans to establish a new global capability centre in Hyderabad and hire over 1,000 people to strengthen its digital strategy and service delivery. The Hyderabad global capability centre (GCC) will be known as Lilly Capability Centre India (LCCI) Hyderabad and will initially focus on expanding Lilly's capabilities in automation, artificial intelligence, software product engineering and cloud computing to deliver advanced technology solutions that meet the evolving needs of Lilly's business worldwide, the Eli Lilly and Company (Lilly) said in a statement. Lilly will be recruiting more than 1,000 highly-skilled team members to strengthen the company's digital strategy and service delivery, it added. The company further said it plans to employ around 1,000 to 1,500 highly-skilled professionals including technology engineers and data scientists. Recruitment for the new site is underway, and the centre is expected to be operational b

Formula E race corruption case: BRS leader Rama Rao appears before ACB

Ahead of his appearance before the Anti-Corruption Bureau, BRS Working President K T Rama Rao on Thursday said his agenda when he was minister in the previous regime was to make Hyderabad a pivotal hub for sustainable mobility as the world transitions towards it and Formula-E race was a part of that ambitious vision. Rao, also known as KTR, was summoned by the ACB for questioning in a case related to "unauthorised" payments to conduct Formula E race, on Thursday at 10 AM. "Worked tirelessly for bringing a prestigious event to India, to enhance the Brand image of Hyderabad & Telangana globally Agenda was to make Hyderabad a pivotal hub for sustainable mobility as the world transitions towards it. Formula-E race was a part of the effort to realise this ambitious vision," he said in a post on 'X'. He further said the intent was to make TMV (Telangana Mobility Valley) clusters the epicentre for innovation, research and manufacturing of electric vehicles creating employment and ...