Kolte-Patil Developers achieves record pre-sales of ₹1636 crore in the first half of FY27

Starting a business does not always require significant capital or a large team; sometimes it is enough to understand market needs and act in time. Vikas D. Nahar founded the healthy snack brand Happilo in 2016, starting with just 10,000 rupees and two employees. According to Traction data from January 2026, after almost a decade, the company's valuation reached approximately 700 million rupees.

However, this was not his first entrepreneurial experience. Before that, Nahar spent several years studying issues related to food production, international trade, and consumer brand creation.

Vikas D. Nahar grew up in a family involved in growing coffee and black pepper in Sakleshpur, Karnataka. He then received education in computer applications at the University of Bangalore, followed by an MBA in Marketing at Symbiosis Centre for Management and Human Resources Development (SCMHRD) in Pune. After graduating, he worked in the trading sector and gained experience in international spice trade with Jain Group. During this work, he had the opportunity to study packaged products and goods sold in stores across various countries in detail.

Before launching Happilo, Vikas had already tried himself in business. In 2011, he launched a retail project called Satvik Specialties Foods, which sold chocolate and sugar-free products. His older brother was also involved in this venture. Nevertheless, in 2015, Vikas decided to exit this enterprise. Having gained the necessary experience, he focused on the growing market of branded dried fruits and healthy snacks, as such products were much scarcer then than they are now, and customers often relied on traditional shops or foreign brands.

Vikas launched Happilo in September 2016. Initially, this business operated as a sole proprietorship, and the company was officially registered in 2018. Despite the modest initial capital, additional investment was later required to expand the business. According to available information, Vikas received an interest-free loan of 75 lakh rupees through a government credit guarantee program. These funds helped increase processing capacity, automation, packaging, and the business's supplier network.

Happilo gained an advantage through listing on BigBasket early on. After this, the brand was able to reach customers in six major cities. Gradually, the company increased its presence not only on online marketplaces like Amazon and Flipkart but also in physical retail stores.

Vikas D. Nahar also participated in the Shark Tank India show in the 2023 season as a guest investor, where he evaluated the business ideas of other entrepreneurs. In a video published as part of the show, Vikas D. Nahar stated that about 20 investors declined to invest before the launch of Happilo. Nevertheless, he started and developed his business.

According to Traction data from January 2026, Happilo's valuation was around 700 million rupees. Previously, in January 2022, its valuation was estimated at approximately 1.6 billion rupees. However, in the 2024-25 fiscal year, the company's revenue decreased by 15 percent, amounting to 282.57 million rupees. During this period, the company also incurred losses of 9.55 million rupees. The story of Happilo demonstrates that while a business can be built starting with small investments, there remains constant complexity in further development and profitability.

According to a report by the consulting company Anarock, housing sales in Dubai South in the first eight months of 2026 exceeded any previous year's figures, reaching 12,428 transactions. This represents a 27% increase compared to the 9,788 transactions registered throughout 2025. The growth is attributed to buyers increasingly preferring more compact living spaces.

Dubai South is a planned urban and economic district spanning 145 square kilometers, located in the southernmost corridor of Dubai, UAE. Development is centered around Al Maktoum International Airport and is divided into six zones: residential, logistics, aviation, exhibition, gold, and business.

Sales Trend Analysis

Ayush Puri, Head of Residential Real Estate, Middle East, and Co-founder of Anarock Channel Partners, noted that Dubai South has already surpassed its annual housing sales volume for 2025 in just eight months. He emphasized that the key shift is in the type of property being acquired: studios and one-bedroom apartments now account for about three-quarters of all deals. Budget-friendly apartments have become the main driver of activity, expanding the area's appeal beyond larger homes that fueled its earlier growth.

In terms of value, residential transactions in the region during the first eight months of 2026 amounted to AED 15.9 billion (or INR 41,117 crore), which is equivalent to 81% of the total volume from the previous year of AED 19.6 billion (or INR 50,686 crore).

Over the past few years, the region has shown multiplefold growth: the annual value of residential sales increased from AED 0.72 billion (or INR 1,862 crore) in 2020 to AED 19.6 billion in 2025, representing a 27-fold increase. During the same period, the number of transactions grew from 672 to 9,788.

The report revealed a sharp shift towards smaller apartments: studios accounted for 45% of transactions in January-August 2026, more than double their share of 19.5% in 2025. One-bedroom apartments added another 31%, bringing the combined share to approximately 76%. Overall, apartments made up 94.5% of the residential sales volume, compared to 31% in 2020.

The average housing price in January-August 2026 was AED 1,656 (or INR 42,836) per square foot, whereas in 2020 it was AED 650 (or INR 16,809). However, the average deal size decreased to AED 1.28 million (or INR 3.31 crore) compared to the peak of AED 2.57 million (or INR 6.65 crore) in 2023.

The consulting firm explained this decrease as a change in the structure of offered products and increased demand for more affordable and smaller units, rather than a broad correction in real estate prices. Puri clarified that a lower average purchase size does not necessarily mean a lower price per square foot, as the central point is the change in product assortment. He also added that a lower average deal size should not be mistaken for a market price correction, noting that the market is in a 'launch and absorption' phase, and the ready and secondary housing segments are not yet mature.

The report showed that the share of off-plan sales in residential transactions in January-August 2026 was 94%, higher than the 73% recorded in 2020.

Infrastructure Support and Rental Market

Demand is supported by infrastructure development. The master plan for Dubai South anticipates accommodating around one million residents and 500,000 jobs upon full completion. In April 2024, an expansion of Al Maktoum International Airport was approved at AED 128 billion, with the first operational phase scheduled for 2032. The airport is expected to handle 260 million passengers and 12 million tons of cargo annually.

The rental market in the area has also expanded: the average annual rent rose from AED 34,534 (or INR 8.93 lakh) in 2020 to AED 82,063 (or INR 21.22 lakh) in January-August 2026. The volume of rental transactions increased fourfold compared to 2020 levels.

Land sale data also indicates the stability of the launch pipeline. The value of commercial deals increased from AED 0.06 billion (or INR 155 crore) in 2020 to AED 5.46 billion (or INR 14,120 crore) in 2025, with land accounting for 97% of the total volume in 2025. In the first eight months of 2026, developers acquired an additional AED 2 billion (or INR 5,172 crore) in land.

Looking ahead, the report points to 38,116 units planned for delivery between 2027 and 2029, more than 3.5 times the 10,813 units delivered from 2016 to 2026. The peak delivery is expected in 2028 with 16,094 units. Although the region remains an attractive investment destination, Puri warned that the 'concentrated delivery period will test the market's absorption capacity, requiring sustained demand to meet supply.'

At the current sales pace for January-August, the report forecasts an annual figure for 2026 of approximately AED 23.9 billion (or INR 61,805 crore).

Jammu and Kashmir Bank reported a 10.6% increase in net profit to 546.36 crore rupees for the second quarter ending September 30. This growth is attributed to increased income and improved asset quality of the bank.

In the reporting period, the bank's net interest income increased by 5% compared to the previous year, reaching 1,502 crore rupees. Additionally, other incomes more than doubled, amounting to 314.90 crore rupees compared to 153.76 crore rupees a year earlier.

The bank presented its financial results after the Board of Directors reviewed and approved the quarterly and half-yearly figures at a meeting at the company's headquarters on Thursday.

A year ago, the bank earned a net profit of 494.11 crore rupees. Compared to the first quarter of the current fiscal year, profit has consistently grown by 28.8%, increasing from 424.18 crore rupees.

For the first half of the current fiscal year, the bank's operating expenses rose by 1.5%, and operating profit exceeded 15%, reaching 1,492 crore rupees. The cost-to-income ratio was 56.57% for the quarter, which is lower than the 60.79% recorded a year ago.

The bank's return on assets consistently increased by 20 basis points, reaching 1.07% in this quarter. Amitava Chatterjee, Managing Director and CEO of J&K Bank, noted that the growth in net interest income, the doubling of other incomes, and the increase in operating profit by more than 26% year-on-year are signs of strengthening income metrics.

He added that the recovery of return on assets above 1% highlights an improvement compared to the June quarter. In the first quarter, the bank focused on expanding its customer base and preparing for stronger future earnings. The second half of the year will focus on maintaining core income growth, strengthening stable revenue sources, improving recovery rates, and reducing funding costs through deepening deposit relationships.