Page 54 - January_2023

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CONSTRUCTION Jaypee Group signed a legally binding deal to sell its cement Aparna Constructions and Estates Private Limited, one of the
APARNA CONSTRUCTIONS AND ESTATES PRIVATE LIMITED
JAYPEE GROUP TO SELL ITS CEMENT ASSETS TO DALMIA
INVESTS `800 CRORES, LAUNCHES 4 NEW RESIDENTIAL
BHARAT FOR `5,666 CRORE
PROJECTS
division to Dalmia Cement (Bharat) Ltd for an enterprise value of
largest and backward integrated real estate player in South
`5,666 crore. Jaiprakash Power Ventures and Jaiprakash Associates
India, launched four new residential projects in Hyderabad with
have both signed the legally binding document. The Jaypee
Group companies said in a press that the divestiture includes
an investment of `800 Crores. Located at Osman Nagar, Aparna
cement facilities with a combined capacity of 9.4 million tonne,
CyberHeights are spread across 15+ Acres. The four new projects
clinker assets with a capacity of 6.7 million tonne, and a thermal
will offer over 1400+ apartments across 2, 2.5 and 3 BHK category
power plant with a capacity of 280 MW. The primary purpose of CyberStar, Aparna CyberShine, Aparna CyberOn and Aparna
the money raised by the sale of the cement business to Dalmia at Osman Nagar. Aparna Constructions has successfully launched
Bharat is to pay off the debt owed by Jaiprakash Associates. 7 residential projects in this fiscal.
The Dalmia Group and debt-ridden Jaiprakash Associates have Situated at one of the fastest growing IT Hub in Hyderabad, Aparna
agreed to the sale of two assets. In 2015, the company sold the CyberStar, Aparna CyberShine, Aparna CyberOn and Aparna
Dalmia Group the majority ownership of cement production CyberHeights are only 5 Kilometers from the ORR and 11 kilometers
facilities with a 2 MTPA capacity. from the IT Hubs.
To fend off a proposal from its lenders to declare bankruptcy, • Aparna CyberStar will offer 232 units across 2, 2.5 and 3 BHK
the group has been making a number of efforts to reduce debt. varying in sizes of 1328 sq. ft.-1839 sq. ft.
Jaiprakash Associates sold cement assets with a capacity of • Aparna CyberShine will offer 330 units across 2, 2.5 and 3 BHK
more than 20 MTPA to UltraTech Cement between 2014 and varying in sizes of 1314 sq. ft.-1824 sq. ft.
2017. The Dalmia Group is currently purchasing cement and • Aparna CyberOn will offer 163 units across 2.5 and 3BHK flats
clinker production capacity from plants in Madhya Pradesh, Uttar varying in sizes of 1465 – 1880 sq. ft.
Pradesh, and Chhattisgarh. • Aparna CyberHeights will offer 708 units across 2, 2.5 and
According to rumours, the Adani Group, which recently purchased 3BHK flat varying in sizes of 1345 – 1981 sq. ft.
the cement assets of the Holcim Group in India, had made an The projects maintain balance between the natural surroundings
offer of `5,000 crore to purchase the cement assets of Jaiprakash and the modern connected living spaces, ensuring the best
Associates. Although UltraTech Cement apparently expressed of both worlds. With a view to maintain optimum comfort and
interest as well, the cement giant withdrew due to disagreements efficiency, all projects maintain a 24-hour Power Back-up, Security
over valuations. & Surveillance Network and Water Supply, as well as a sewage
treatment plant, water treatment plant and rainwater harvesting
EMBASSY REIT CERTIFIED FOR THE WORLD’S LARGEST system on-site. The projects offer a host of amenities on par with
USGBC LEED PLATINUM V4.1 O+M OFFICE PORTFOLIO the best developments in the world, while maintaining a steadfast
Embassy Office Parks, India’s first listed REIT and the largest office focus on resource conservation and sustainability.
REIT in Asia by area, has achieved the distinction of operating The intelligently designed apartments offer airy bedrooms,
and maintaining the world’s largest ‘USGBC LEED Platinum v4.1 captivating sit-outs, and a smartly planned kitchen. Every
O+M’ certified office portfolio by Green Business Certification apartment is designed to maintain excellent natural light, energy
Inc. (‘GBCI’). Embassy REIT received this certification for all 77 and airflow characteristics and is 100% Vaastu compliant. Every
operational buildings spread across 12 office parks in Bangalore, detail of the living space is optimally crafted and utilized to ensure
Mumbai, Pune and NCR. The largest office REIT in Asia by area, an uncompromising living experience. With these new projects,
Embassy REIT, has achieved this LEED Platinum certification for all of Aparna Constructions will have another top-notch addition to its
its operational properties totaling 33.4 msf, indicating adherence residential portfolio in Hyderabad.
to the highest operational standards for sustainability.
In October last year, as part of its ESG strategy, Embassy REIT ADANI PROPERTIES WINS DHARAVI REDEVELOPMENT
announced its commitment to achieve 75% renewable energy PROJECT FOR `5,069 CRORE
usage across its properties by FY2025. An existing 100 MW solar The redevelopment of Dharavi, the second-largest slum colony in
plant supplying electricity to its Bangalore properties, as well as Asia, was awarded to Gautam Adani-led Adani Properties recently.
an ongoing project to install solar rooftop panels with a capacity The Maharashtra government authorities began accepting
of over 20 MW across its pan-India asset-base are central to financial bids for the Dharavi reconstruction project, which is
achieving this target. Embassy REIT has also implemented several regarded as one of the biggest in India. The best bidder, Adani
initiatives to reduce energy and water consumption, as well as Properties, reportedly offered `5,069 crore for its investment in the
promote waste recycling in its parks. project. The largest investment amount that was quoted for the
GBCI is India’s leading authority on sustainability in building project that was beyond the required `1,600 crore was used as the
design, construction, and operations and is a part of the U.S. foundation for the bidding criteria. According to the Maharashtra
Green Building Council (‘USGBC’), which provides independent government, the project should be completed in 17 years, and
oversight of professional credentialing and project certification the rehabilitation process should be completed in 7 years. More
under the Leadership in Energy and Environmental Design (‘LEED’) than 10 million square feet of construction are expected to be
green building rating system. completed due to the Dharavi redevelopment project.

54 CONSTRUCTION OPPORTUNITIES|JANUARY 2023