PRIVATE INFRASTRUCTURE DEVELOPMENT GROUP
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
Noida extends rehab package offer for projects facing insolvency; Supertech, ATS, Logix Group among defaulters
The Uttar Pradesh government has extended the rehabilitation package for housing project developers facing insolvency proceedings by two weeks. The package offers incentives such as interest waivers and penalties during the pandemic in exchange for withdrawing cases with the NCLT or courts. The package aims to assist developers like Supertech, ATS, and Logix Group who have stalled projects and owe significant dues.
Adani Group to invest $100 billion in energy transition, says Gautam Adani
Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation. Speaking at 'Infrastructure - the Catalyst for India's Future' event of Crisil, Adani Group chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale.
DGCA revises regulations to boost seaplane operations under UDAN scheme
DGCA revamps regulations to streamline seaplane operations for sustainable development, enhancing pilot training and stakeholder engagement, including MoCA's initiative. The simplified procedures support economical and efficient operations.
Job creation is India's top economic challenge, policy experts say
According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.
Gautam Adani explores strategic partnership with Tanzania during meeting with President Samia Suluhu
He posted, "It was an honour to meet the charismatic President of the United Republic of Tanzania, Her Excellency @SuluhuSamia . Fascinating to hear her deep insights about the future of Africa and discuss the possibilities for forging a long-term partnership with one of Africa's most promising and strategically important nations.Group leveraging its expertise across various infrastructure sectors, including ports, renewable energy, airports, transmission, distribution and rail to help build world-class infrastructure in Tanzania."
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Central Park plans to list realty business in two-three years
"We follow the practises of a listed firm and with future generation coming in, we want to list the company. We have substantial land bank across Gurugram and are adding more, which will take valuation of the company further up," said Amarjit Bakshi, chairman and MD, Central Park. The company is expected to launch 7 million sq ft in the current fiscal with ₹2,000 crore investment.
MEP Infrastructure Developers to seek settlement with lenders under IBC: Jayant Mhaiskar
MEP Infrastructure Developers (MIDL) plans to submit a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code (IBC) to resolve its debt issues with lenders. The chairman, Jayant Mhaiskar, aims to seek a settlement before the company faces bankruptcy, highlighting the importance of the IBC provision in creditor settlements.
No land to Adani group, Dharavi land transfer to Maharashtra govt depts: Sources
The Dharavi slum redevelopment project involves the Adani group building houses for residents, with land transferred to Maharashtra government departments, not Adani. Officials rejected claims of land grab, emphasising that the land remains with government entities. The project aims to provide housing and commercial spaces, ensuring no displacement of Dharavi residents. Additional benefits include stamp duty exemptions and business support.
India ready to assist Nepal in development of IT sector: Ambassador Naveen Srivastava
The ambassador informed Sharma that New Delhi has made it easy for the Nepalis in India to get a mobile SIM as per the past agreement. India will address many other problems, including the bandwidth, he added during the meeting attended by the officials from the Ministry of Communication and Information Technology and the Ministry of Foreign Affairs.
Focus and execution will increase on affordable housing: Prashant Thakur
Now, the definition of affordable needs to be increased. There were certain incentive that have been rolled back. So, these are the demands which were unmet and I strongly believe that with this government coming back in power the focus will be there and we will see an overall spurt in affordable housing which was lagging significantly.
Robotics company Difacto raises $4.8 million from Stakeboat Capital
Bengaluru-headquartered Difacto will use the funds to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.
Noida Authority orders asset attachment of AMG group over Rs 2,409 cr dues
The Noida Authority has ordered the attachment of properties of realty group Aims Max Gardenia (AMG) over pending dues of Rs 2,409.77 crore against two land allotments in the city. The group, contested the amount of pending dues, claiming it was around Rs 1,050 crore and is ready to pay 25 per cent of it, following the recommendations of the Amitabh Kant committee on legacy stalled housing projects to facilitate the registry of flats in its projects.
China's Space Pioneer raises $207 million to fund rocket development
Space Pioneer, also known as Beijing Tianbing Technology Co, is among a small group of rapidly growing private-sector rocket developers, spurred by the government's call to transform China into a major power in space.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
IRB Holding sells Rs 1,444.8 cr worth IRB Infrastructure shares
In a separate deal, Nomura India Investment Fund bought shares of IRB Infrastructure Developers worth 256.59 crore on BSE. Shares of IRB Infrastructure Developers slumped 9.9% to close at 65.5 on Thursday.
Modi has pulse of the average man, leads by example, says head of IIT alumni nonprofit body
"You can have many politicians who can say something but mean something else. But here you have a person who is leading by example and his leadership, his work ethic, his delivering performance from his account is perpetuating in terms of every minister, every ministry following and being forced to lead that, to follow that," said Ratan Agarwal, president of WHEELS Global Foundation.
IRB Infra promoters likely to sell 4% to raise Rs 1,512 crore
The sellers have put up 240 million shares for sale with a floor price ranging from ₹63 to ₹72.7 per share. This represents a 13% discount on the lower range compared to the closing price on Wednesday.
ADB commits USD 2.6 billion in sovereign lending to India
Asian Development Bank (ADB) committed USD 2.6 billion (about Rs 21,500 crore) in sovereign lending to India in 2023 for various projects. The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India's climate resilience, and enhance connectivity.
Sebi allows privately placed InvITs to issue subordinate units
Capital markets regulator Sebi on Tuesday notified a framework for issuance of subordinate units by privately placed infrastructure investment trusts (InvITs).
Max Group arm Antara ties up with Hyderabad realtor for senior living project
Antara has two projects - one in Dehradun and one in Noida - and it recently added one in Gurugram after a gap of three years.
Infrastructural projects helping improve India's relationship with Africa: Indian corporate executive
Indian infrastructure projects in Africa have significantly enhanced ties between the two regions, according to S Kuppuswamy, a senior executive from the Shapoorji Pallonji group. He emphasized the importance of collaboration between Indian and US development finance institutions to ensure the swift execution of such projects and to counter China's influence in the region. Kuppuswamy highlighted the pride African nations take in Indian-built infrastructure, citing examples like Ghana's presidential palace.
Development path for India will not be the same as that of China: Capacity Building Commission Chairman
As India moves towards the mission of 'Viksit Bharat' and becoming a developed country by 2047, the development path for India will not be the same as that of China as they have a different environment and capabilities, Chairman of the Capacity Building Commission Adil Zainulbhai has said.
PE Fund Mapletree acquires Bengaluru land for over Rs 1,900 crore
Adarsh Developers, a real estate development company, has recently completed the sale of a 41-acre land parcel in Bengaluru to Mapletree Investments, a private equity fund based in Singapore. The transaction, valued at over Rs 1,900 crore, forms a key aspect of Adarsh Developers' strategy to alleviate debt burdens. With an estimated development potential of approximately 7 million square feet, the land sale represents a significant step forward for both parties involved.
M&M's Rs 12,000 crore electric plan has charged up Dalal Street
Mahindra & Mahindra's stocks surged on the back of surpassing estimates, unveiling ambitious electric vehicle plans, and a prospective target price upgrade. The company greenlit a hefty Rs 12,000 crore investment into its electric division over three years. It's advancing with producing its Born Electric lineup, aiming to launch six battery-powered SUVs by early 2027.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
Your next interstate bus could soon be electric; govt plans to scale up charging infra along key routes
The Indian government plans to introduce electric buses on long-distance routes to accelerate the country's green mobility shift. The plan focuses on interstate passenger transport, with an estimated 1.25-1.45 million buses operating on intercity or interstate routes. The shift to electric buses will reduce emissions and improve the viability of buses over long routes. Incentives are being planned to catalyze the shift towards electric buses.
AI boom set to fuel data centre deals in Asia this year
The intense pace of deals in the world's most populous region comes as countries and companies respond to booming demand for AI, calling for more data capacity, industry executives said.
SBI invested Rs 714 crore in TCG’s Gurugram project
The State Bank of India invests Rs 714 crore in TCG Urban Infrastructure for the World Trade Centre project in Gurugram. With a total cost of Rs 1,211 crore, TCG has infused substantial capital for construction, while SBI's investment supports the project's development. TCG is a New York-based conglomerate with diverse investments globally, including real estate.
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