The group is considering the sale to augment its balance sheet and credit ratings amid the realty sector and shadow banking sector slowdowns
To invest Rs 400 crore on the second phase of the project located along Dwarka Expressway
It is looking at raising debt of Rs 450 crore for the Eluru project and Rs 400 crore for the Bengaluru project, the official added.
"The developer has witnessed high traction from home buyers during the launch period and received around 750 expressions of interest (EOI)," it added.
The company also plans to launch two more housing projects in Gurugram’s Sector 113 and Noida’s Sector 150 under the Shapoorji Pallonji Real Estate brand soon.
The 8-acre project 'Joyville–Hinjawadi', launched in May 2018 and is scheduled to be completed by June 2022, is being developed by Joyville Shapoorji Housing -- a USD 200 million platform of Shapoorji Pallonji Real Estate (SPRE) along with ADB, IFC and Actis to develop aspirational mid-income housing.
The agency has downgraded the rating assigned to the Rs 18,500-crore fund-based and non-fund based bank facilities to AA from AA+ and has reaffirmed the short-term rating at A1+.
The company is building its presence in US and Australia, where the solar contracts market may be valued at $10 billion
The Group, which has grown at a CAGR of 22 percent over the past five years, is also planning to enter new geographies and expects to grow at 20-22 percent over the next two years.
The company plans to launch three projects in Delhi-NCR this fiscal, which will mark its foray into the market
The JV overshadowed contenders such as InterGlobe Enterprises and Canada Pension Plan Investment Board in the race to buy the office space.
NBCC awarded the redevelopment of Pragati Maidan's ITPO complex into an integrated exhibition-cum convention centre to Shapoorji Pallonji and Co Ltd with completion period of two years.
NBCC has announced that it has given an order worth Rs 2,150 crore to Shapoorji Pallonji. In an interview to CNBC-TV18, Anoop Kumar Mittal, Chairman of NBCC spoke about the latest happenings in his company and sector.
Of the six, 2-3 projects are being planned to come up in the megapolis, two in Pune and one in the National Capital Region, Chief Executive Venkatesh Gopalakrishnan said.
India faces an estimated housing shortage of 18 million units. If the country has to deliver on the promise of â€œhousing for all by 2022â€, it translates into completing approximately three million units a year.
In the 2016-17 union budget, the government introduced several measures to boost affordable housing. Among the significant ones, it provided 100% tax exemption on profits, for developers building homes up to 30 sq meters R
Tata Sons' ousted chairman Cyrus Mistry, in his first legal salvo against the conglomerate, has appealed to a quasi-judicial body to either replace the company's current board, or appoint a retired Supreme Court judge as non-executive chairman.
For any buyout to be successful, having a willing seller is mandatory but in the Tata Sons-Cyrus Mistry case the minority shareholder Shapoorji Pallonji has so far given no indication of any intention to sell out of the group, says Suhas Tuljapurkar, Managing Partner at Legasis in a discussion with CNBC-TV18.
In an unexpected move, ex-Chairman of Tata Sons Cyrus Mistry today announced his resignation from six listed Tata companies including Tata Chemicals and Tata Motors.
The interests of Tata Sons and minority shareholders of Tata-promoted companies are fairly aligned, says Harish Bhat, Brand Custodian of Tata Sons in an interview to CNBC-TV18.
It was a battle that Cyrus Mistry was bound to lose. The extraordinary general meeting (EGM) of software major Tata Consultancy Services saw Mistry being voted out of the company‘s board. With 73.33 per cent of the stake held by Tata Sons, the outcome was obvious. There was no way Mistry could be allowed to continue in TCS.
The debenture allotment committee of the Bajaj Finance at its meeting held of December 2, has allotted 1050 unsecured subordinated (Tier II) redeemable non-convertibles debentures (NCDs) worth Rs 105 crore on private placement basis.
People close to Ratan Tata and Cyrus Mistry are attempting to reconcile differences between the two to put an end to the ugly public spat, reports CNBC-TV18 quoting sources. As of now the talks are only informal and exploratory, they say.
Murat Viniyog, Koneru Investments, B P Capital, Marudhar Lease Financing, and Khevana Investments are the other five Non-Banking Financial Institution (NBFC) which surrendered their certificates of registration to the RBI.
Safeguarding depositors' interest is paramount, they said, adding that as investors, banks and financial institutions are keeping a close watch on various developments taking place post the ouster of Cyrus Mistry as chairman of Tata Sons.