Mahalaxmi Race Course, Mumbai's lungspace gasping for breath

20 May 2013 Editorial Team

The 226-acre Mahalaxmi Racecourse, owned by the influential Royal Western India Turf Club (RWITC), has a history pock-marked by controversies ranging from creating a 'water-world' to underground '谩quarium'due to its proximity to the Haji Ali Dargah sea-shore, to an underground metro car park to criss-crossing the skies above the concourse with fly-overs to a recent proposal- creation of a garden-cum-theme park on the much abused term 'international standards.'

The RWITC, having a 99-year lease expiring May-end this year, holds derbies during racing seasons and renting out the stadium and parts of racecourse for political events and high-profile weddings during off-season. As expected, last week the ruling Shiv Sena in municipal corporation sparked off a controversy not in January or in February but late April, recommending that Mumbai's iconic landmark should be converted into a public garden.

The Brihanmumbai Municipal Corporation (BMC) Mayor Sunil Prabhu shot off a letter to the commissioner Sitaram Kunte asking him to refrain from renewing the lease as it would be better to develop the place into an 'international standard' theme-based garden. Mayor Prabhu is not the first mayor eyeing the plot, even an earlier RWITC committee in 2004 itself had tried to get into an agreement with Pegasus Infrastructure for developing a nine-hole golf course, hotel, service apartments, club-house and exhibition-cum-convention centre on a large chunk of the plot.

An enraged Sonia Gandhi had ordered an inquiry into the controversial deal while a civil group under the banner of Public Concern for Governance Trust led by former Union Cabinet Secretary BG Deshmukh moved the Bombay High Court alleging that the project was just a cover to grab grab one of the largest open spaces. The present day reported value is pegged at Rs 25,000 crore.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..