23 October 2019

Table of Contents for Ticker Tapes





Ticker Tapes

COASTAL ROAD PROJECT MAKES INROADS

Work on the Rs.15,000 cr coastal road project will begin in Mumbai at two places, on Nepean Sea Road – off Priyadarshini Park – and another at Haji Ali. Scheduled to be completed in 4 years, the first phase will focus on Marine Drive- Bandra Stretch, and second phase will likely be built by MSRDC from Bandra end of sea-link to Kandivali. After the request for qualification was released, several companies invested in the project and in JVs with firms from abroad, including Larsen & Toubro and Reliance Infrastructure.

 

 

CREDAI MEMBERS TO DEVELOP OVER 375 AFFORDABLE HOME PROJECTS

Realtors’ apex body CREDAI will develop over 375 affordable housing projects across the country at a cost of Rs.70,000 cr. The initiative is a contribution towards the Central government’s ambitious programme of ‘Housing For All’ by 2022. The projects are spread across all across India and involve development of over 2,37,000 houses. CREDAI is negotiating with its banker State Bank of India (SBI), to create a special financial package, both for home loans and for construction finance.

 

 

SAGAR CEMENTS’ CAPTIVE POWER PROJECT

Sagar Cements Ltd will be investing an additional Rs.28 cr in their ongoing captive power production project and a new solar power plant. Total investment in the plant is about Rs.98 cr. Capacity of the coal-based power plant under implementation at its Mattampally plant has been scaled up from 15 MW to 18 MW with an additional investment of Rs.23.66 cr, which will be funded through borrowings and internal accruals. Slated for commissioning by March 2019, the plant will have a Circulating Fluidized Bed Combustion (CFBC) boiler to comply latest regulatory requirements.

 

 

BPTP MAY SELL 15 ACRES TO SHAPOORJI FOR Rs.200 CR

Realty developer BPTP is negotiating with Shapoorji Pallonji Real Estate to sell its 15-acre land parcel on Dwarka Expressway for Rs.200 cr, for the latter to develop a 2 million sq ft mid-income residential project. Part of the land parcel is likely to benefit from the government’s transport-oriented development (TOD) policy, under which development is incentivized by providing higher floor area ratio, which will enable vertical construction that’s needed to address the problem of land scarcity.

 

 

FOURTH SMART LIST BY END-JUNE

The Urban Development Ministry will announce by June-end the next set of 40 cities for Central funding under the Smart City Mission, it has earmarked Rs.48,000 cr for development of these cities. The ministry is also preparing a report card on its Smart City Mission as the scheme is set to complete two years of its launch this June. So far smart city plans worth Rs.1.33 lakh cr for 60 cities have been approved.

 

 

PURAVANKARA’S TRANSFORMATION

Puravankara Ltd will undergo a strategic transformation by increasing its investments in commercial projects as it sees huge business opportunities in that segment. With 95 per cent of their business from residential and mere 5 per cent from commercial, they aim to have 35 per cent of their portfolio as commercial by 2020. The company plans to have 4.5 million sqft of commercial projects by 2020 across Bengaluru, Hyderabad, Pune and Mumbai.

 

 

ACC PLANS 5 RMC PLANTS

ACC, plans to invest Rs.600 cr in setting up five ready-mix concrete plants and undertake various debottlenecking projects across its plants this year. It has just completed investment of Rs.2,700 cr in an integrated project involving setting up of 2.79 million tonne per annum (mtpa) of clinker and 1.1 mtpa of grinding facility at Jamul in Chhattisgarh, and grinding unit of 1.35 mtpa at Sindri in Jharkhand. The investment will take the company's production capacity to 35 mtpa from 30 mtpa. A fresh investment of Rs.600 cr will set up five RMC plants, debottlenecking and improving energy efficiency at certain plants.

 

 

NITESH ESTATES TO DEVELOP 5 MILLION SQFT

Nitesh Estates will develop A-Grade commercial and rental assets of over 5 million sq. ft. with an investment of around Rs.1500 cr across multiple projects. This includes locations in central business districts and significant micro markets of Bengaluru. Nitesh Estates has forged a strong partnership with Goldman Sachs to acquire ready-made commercial assets on a pan India footprint and cities like Pune, Chennai, Hyderabad and Mumbai have been identified for such acquisitions. It currently has 20 mn. sq. ft. under development.

 

 

EMAAR EXPEDITES PROJECTS

Following initiation of demerging its India JV, Dubai-based realty major Emaar Properties’ arm Emaar India has raised Rs.2,500 cr to expedite completion of its ongoing projects. Under the separation plan – expected to be concluded by April end – Emaar India will get control of most of the 55 ongoing or partially completed sub-projects, it’s trying to expedite their execution. These sub-projects are part of the total 30 projects with approvals. Emaar India confirmed raising funds from banks and NBFCs to complete its projects. Currently a subsidiary of Emaar Properties PJSC (Emaar), it is being run under management of Emaar.

 

 

GRUNDFOS EXPANSION

Grundfos India will open its third facility in Ahmedabad to tap West and North markets, which account for 40 per cent of its India operations. With an annual capacity of 14,000 pumps, it will commence operations in June. The subsidiary has invested Rs.12 cr, which accounts for machinery and infra cost, and leased 50,000 sqft from a vendor. The South accounts for about 30 per cent, with rest from the East and other countries like Bangladesh and Maldives.

 

 

GODREJ PROPERTIES MUMBAI PROJECT

Godrej Properties Ltd has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the Akurli cross road at Hanuman Nagar, Kandivali East, Mumbai. The five-acre project will have a saleable area of one million square feet. This partnership strengthens the development portfolio in Mumbai and fits Godrej’s strategy of deepening presence in key markets across India’s leading cities. It is currently developing residential, commercial, and township projects spread across 12.93 million square meters (131 million square feet) in 12 cities.

 

TIE UP FOR GREEN RATING

Developers such as BESTECH India, Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation, Ireo Hospitality Company, Vatika Ltd and Conscient Infrastructure have tied up for a Green Rating for Integrated Habitat Assessment (GRIHA) for the same. A higher GRIHA rating allows additional floor area ratio and a discount on tax payable while registering property. The developers have also signed MoUs with GRIHA Council for assistance during pre-construction, building planning, construction and building operation and maintenance stages.

 

 

SHRIRAM PROPERTIES’ AFFORDABLE HOUSING

Shriram Properties will invest Rs.15,000 cr over the next 7-8 years for development of 30 ongoing projects across six major cities. It has also decided to focus on affordable housing after the government’s decision to accord infrastructure status to this segment and provide other tax sops and interest subvention to home buyers and builders. They have delivered about 15 million sqft, and are currently developing 25-30 projects of 60 million sqft area in Chennai, Bengaluru, Hyderabad, Vizag, Coimbatore and Kolkata.

 

 

SHAPOORJI PLANS NEW PROJECTS

Shapoorji Pallonji Group’s realty arm Shapoorji Pallonji Real Estate is planning a dozen residential projects, admeasuring about 13 million squre feet (sqft), over the next 18 months. Shapoorji Pallonji develops mid-income housing projects under its Joyville brand, mid to high-end properties under Shapoorji Pallonji Real Estate, and redevelopment projects under SD Corp. It will add two projects each in Mumbai, Pune, and one in the NCR, adding up to five to six million sqft of space.

 

 

SLUM REHABILITATION

Kolkata builder Siddha is now stepping foot in Mumbai and is looking at developing around 8 lakh sqft area for slum rehabilitation projects. Following the guidelines of Slum Rehabilitation Authority (SRA), by government of Maharashtra, these projects would be developed in Kandivali west and Wadala. The projects would rehabilitate about 2000 families who are currently living in slums of Mumbai. Named as Siddha Seabrook, the G+54 storied project in Kandivili will have 1.5, 2, and 3 BHK homes.

 

 

EMAMI COMMISSIONS NEW UNIT

Emami Cement (part of the Rs.50,000 cr diversified Emami Group), has commissioned 2 million tonnes per annum (MTPA) cement grinding units at Panagarh Industrial Park in Burdwan district, West Bengal. The project cost Rs.500 cr. Claiming the project has been completed in a record time of 13 months, Emami Cement says the plant is developed on 65 acres, which is expected to generate direct and indirect employment of over 500 people.The grinding unit is part of the Rs.3500 cr, 5.5 MTPA integrated cement plant comprising an operational facility of a central clinker plant and a grinding unit at Risda in Balodabazar district of Chattisgarh. Another 1.8 MTPA grinding unit is coming up in Odisha.




Leave a Comment

Name  
Email Address
(will not be published)    
Website
Comment