PUBLIC ASSET MONETISATION
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Prestige Estates board okays proposals to raise Rs 5,000 crore
The Bengaluru-based company may either consider creating a real estate investment trust - which could be the first hotel REIT in India - or pursue an initial public offering to monetise the hospitality business. In April, ET was the first to report Prestige Estates' plan to monetise the business. "The firm is also currently evaluating to monetise its hospitality portfolio, which will lead to some value unlocking," Zaid Sadiq, executive director of hospitality at the Prestige Group had said. He could not be reached for comment.
Centre monetizes assets worth Rs 3.85 lakh crore; Coal and Roads ministry top contributors
The government has monetized Rs 3.85 lakh crore through core assets of various ministries and Public Sector Enterprises (PSEs) since FY22 under the National Monetisation Pipeline (NMP). In FY23-24, against a target of Rs 1.8 lakh crore, the government achieved Rs 1.56 lakh crore, with top-performing ministries being Road Transport and Highways and Coal, collectively monetizing Rs 97,000 crore.
Assets worth Rs 1.56 lakh crore monetised in 2023-24 as against the target of Rs 1.8 lakh crore under NMP: NITI Aayog
According to NITI Aayog, the government has monetized assets worth Rs 3.85 lakh crore in the first three years under the National Monetisation Pipeline (NMP) while the four-year target under the plan, ending in 2024-25 is Rs 6 lakh crore.
How will RBI's Rs 2.11 lakh cr dividend payout to government help Indian economy? A Balasubramanian answers
So, I think combination of these two things put together have made RBI to come with about highest ever dividend, especially at a time where the market is also generally getting, not market, in general, the bond market keeps a very close eye on fiscal numbers.
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
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ADIA, KKR book a $1.5b space in Reliance Retail warehouse
ADIA and KKR invest $1.5 billion in RRVL's warehousing assets, managed by RPPMSL. RRVL transfers assets to RLWH. Financial details include debt, NCDs, and equity. RRVL's growth supported by investments and strategic partnerships.
Mop up from divestment, asset sale beats FY24 RE of Rs 30,000 crore
In FY24, government's capital receipts surpassed Rs 30,000 crore from disinvestment and asset monetisation. The budget combined targets under miscellaneous receipts. CPSE dividend collections reached a new peak of Rs 63,749 crore in 2023-24.
Centre studying innovative ways to boost infrastructure funding
Government plans to capture land value increase from road projects through mechanisms like auctioning exits and betterment levy to boost infrastructure funding. Studying global best practices for innovative financing methods.
IL&FS to monetise its stake in DND flyover connecting Delhi to Noida
IL&FS plans to sell 26% stake in NTBCL, DND flyover operator, for debt reduction. Public shareholders involved. NTBCL faces financial crunch, demands funds, awaits Supreme Court decision on toll issue.
Govt garners Rs 16,507 crore via public sector enterprises disinvestment in FY24
The budget had pegged disinvestment proceeds for 2023-24 fiscal at Rs 51,000 crore. However, the revised estimates (RE) on February 1, 2024, did away with separate head for disinvestment receipts.
NHAI monetises 889 km of national highways to raise Rs 16,000 crore
The National Highways Infra Trust, which is an infrastructure investment trust (InvIT) sponsored by the NHAI, has raised unit capital of around Rs 7,272 crore from marquee domestic and international investors and debt of around Rs 9,000 crore from Indian lenders, to fund the acquisition of national highway stretches, the ministry of road transport and highways said on Tuesday.
View: GoI's focus on capex to address infrastructure and energy deficits pays off
The GoI's focus on increasing capital expenditure (capex) to address infrastructure and energy deficits has been significant. Public capex as a percentage of GDP has risen from 1.65% in 2019-20 to 3.2% in 2023-24, with its share in public expenditure increasing from 12.5% to 21.6%. This strategy, pursued even during the pandemic, has compensated for sluggish private investment, contributing to India's high growth rate above 7%. However, there's been a decline in revenue expenditure, affecting sectors like education and health, necessitating active policy measures like privatisation and asset monetisation to sustainably manage deficits and fund development.
BSNL, MTNL nudged to monetise land faster to pare debt
Cabinet Secretary Rajiv Gauba called a review meeting with the senior officials of BSNL and MTNL earlier this week to take an update on the monetisation process. "They have been asked to prepare a detailed circle-wise report, with the land parcel and reason for the delay or possible hurdles, by May 31," another official said.
High selloff target can potentially create overhang in the market, says Dipam Secy
In a rare move, the interim budget for FY25 clubbed the government's disinvestment and asset monetisation targets, instead of declaring them separately. The combined realisation is budgeted at Rs 50,000 crore for FY25, against Rs 30,000 crore (revised estimate) in FY24 and Rs 61,000 crore in the BE for this fiscal. Of course, the combined target is still less than 2% of the government's expected non-debt receipts for FY25.
Capital receipts of Rs 30,000 cr in FY24 RE includes disinvestment, asset monetisation: DIPAM Secy
The government has budgeted Rs 30,000 crore from other capital receipts in the Revised Estimates for the current fiscal. For 2024-25, the amount is budgeted at Rs 50,000 crore. DIPAM Secretary Tuhin Kanta Pandey said the Budget does not have any specific target for disinvestment for the next fiscal and the Rs 50,000 crore receipts is estimated to come from disinvestment and asset monetisation, as well as capital receipts, which are not classified elsewhere.
NHAI may monetise more than ₹1 lakh cr assets by FY24 end
"We have undertaken asset monetisation in a big way. This has been possible because of the attractiveness of the road projects, higher returns to investors and operational experience of players prompting them to go for greater investments year-after-year," said a senior official, who did not wish to be identified.
States should look at asset sales in infra sector to bolster revenues: RBI Report
"States need to scale up their initiatives for asset monetisation in order to increase non-tax revenue. The monetisation of assets unlocks their value, eliminates their holding cost and enables scarce public funds to be deployed into new projects, thus fast-tracking new infrastructure creation," the report recommended.
AAI saving nearly Rs 515 crore annually from leasing out of six airports under PPP
Six airports -- Mangaluru, Lucknow, Ahmedabad, Thiruvananthapuram, Jaipur and Guwahati -- were leased out under the Public Private Partnership (PPP) in 2018. Meanwhile, 25 airports are proposed to be leased out during the period from 2022 to 2025 under the National Monetisation Pipeline (NMP). In another written reply, Singh said these airports are being leased for their better management, utilising private sector efficiency and investment.
LIC keen to keep part of its stake in IDBI Bank to reap benefit of bancassurance
State-owned LIC (Life Insurance Corporation), the promoter of IDBI Bank, plans to retain a portion of its stake in the bank to continue benefiting from bancassurance. While both the government and LIC will divest their stakes in IDBI Bank, LIC Chairman Siddhartha Mohanty stated that they intend to keep some stake to maintain the bancassurance partnership.
RINL hopes asset monetisation may garner Rs 3000-4000 crore
"If we are able to fetch Rs 3000-4000 crore from the monetisation of the railway wheel plant and the land parcel at Vizag, it will help us turn around with a reduction in debt and working capital," RINL (Vizag Steel Plant) CMD Atul Bhatt said on the sidelines of the Steel & Metallurgy Steel Conclave and Award Ceremony.
Central Warehousing Corp to monetise assets across India, sees over Rs 1,500 cr investment
The plan involves development of these warehousing facilities across 80 key locations in the country through public-private partnership (PPP) under Design Build Finance Operate and Transfer (DBFOT) model for a period of 45 years to the concessionaire.
REIT monetisation potential prompts retail-led realty assets’ single ownership structures
The listing of retail-led real estate assets through Real Estate Investment Trusts (REITs) has brought greater transparency to transaction and management structures. Developers are now recognizing the need to upgrade retail properties, focusing on factors like tenant mix and mall management to maximize asset monetization. Data from JLL India shows that over half of the retail assets in India with the potential to be listed as REITs are located in Mumbai and the NCR-Delhi region.
India's growth is sustainable; economy strong enough to weather high US rates, says CEA V Anantha Nageswaran
India's chief economic adviser, V Anantha Nageswaran, says that India's economy is strong enough to withstand high US interest rates. He believes that the country's medium-term growth rate of around 6.5% is sustainable, and private capital formation is evident. Nageswaran also discusses the risks India faces in securing energy supplies due to climate change and its transition away from fossil fuels. He believes that the country needs to focus on manufacturing as well as services and that India's debt and deficit ratios will improve in the future.
PSU general insurers may monetise realty assets
The monetisation of commercial and residential real estate asset is part of a five-pronged strategy being worked out by the insurers--which also includes further expansion of their motor and health portfolios and upgrade of risk management systems - to improve their profits and solvency ratio, a senior finance ministry official told ET.
CPSEs to give complete list of land parcels assets to NLMC by June 30
At the review meeting, NLMC had highlighted that many CPSEs were yet to furnish latest records of their land parcels, offices and buildings, and latest valuations, a government official privy to the deliberations said. In some cases, it had pointed out, the valuations were 10-12 years old, the official said.
Deep dive into UHNWI investments portfolio with focus on Family office
There is a preference for single opportunities that rank at par with institutional investors as opposed to blind pool private equity funds. New-age and tech-oriented promoters with wealth generated through private- and public-market exits have a larger allocation to private equity.
Asset monetisation in FY23 may see ₹55,000-crore shortfall
Despite the heavy lifting by the coal and mining sectors, the Indian Railways alone may fall short of its annual target by ₹28,000 cr, according to an internal finance ministry review.
Budget should have focused more on asset monetisation, says Former Niti Aayog Vice Chairman Rajiv Kumar
Participating in a discussion on 'Union Budget 2023 and Beyond' organised by Ananta Centre, Kumar said, "there should be (have been) a lot more focus on privatisation and asset monetisation, which I do not find reference to here (Budget)". He also said Rs 51,000 crore disinvestment target is way too low.
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