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15 Nov 2022
The K Raheja managed Mindspace Business Parks REIT declared a growth of 16 percent year-on-year (YoY) at 417 crore rupees for Q2 FY 23. The company recorded a profit after tax (PAT) of 87 crore rupees in Q2 FY23 as against 130 crore rupees in the corresponding quarter of the last fiscal year. However, its net consolidated income stood at 686 crore rupees for the quarter which indicates a 60 per cent growth from 428 crore rupees recorded for the same period last fiscal year. As of 30th September 2022, its net debt stands at Rs 4,4650 crore, with a net debt to market value of 16.8% while the portfolio's gross asset value rose to Rs 27,300 crore in September 2022, a 3.3 percent increase YoY.Read more
11 Nov 2022
The real estate private equity investment arm of HDFC, HDFC Capital Advisors has inked a deal with Mumbai based Shapoorji Pallonji Real Estate to invest over 1500 crore rupees via structured debt instruments into six projects spanning across 7 million square feet in Mumbai and Pune. The projects are a mix of affordable and mid-income housing located in Central Mumbai, Hadaspar and the outskirts of Pune City. The money will be used for repayment of high-cost debt, working capital and to ensure financial closure of the projects.Read more
01 Jan 1970
Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more
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01 Jan 1970
Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more
01 Jan 1970
The Nashik Municipal Corporation (NMC) is set to auction properties of 73 major property tax defaulters next month, targeting those who ignored earlier confiscation notices. Each defaulter owes over INR1 lakh, and the crackdown follows warnings sent to 425 such cases. The city faces over INR250 crore in unpaid property taxes from more than 1.5 lakh defaulters. Earlier this fiscal year, NMC ran an amnesty scheme offering up to 90% penalty rebates, which over 60,000 defaulters used, resulting in INR30 crore in waived penalties. Property tax is crucial for city services, and auctions are being used as a last-resort recovery method.Read more
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