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IL&FS Transportation’s SPV ties up Rs. 2,363-crore loan for NH1 project

IL&FS Transportation’s SPV ties up Rs. 2,363-crore loan for NH1 project
In a recent exchange filing, IL&FS Transportation Networks Ltd (ITNL) has disclosed that its special purpose vehicle (SPV) – Shrinagar Sonmarg Tunnelway Ltd – has tied up a loan of Rs 2,363 crore with the ICICI bank. In the SPV, Soma Enterprises Ltd and ITNL are 51:49 equity partners. ITNL said in the exchange filing [...] Continue Reading »

REITs are investment trust operating income-producing real estate

REITs are investment trust operating income-producing real estate
REITs are investment trusts that own and, in most cases, even operate income-producing real estate. The trusts operate like mutual funds and invest in income-generating real estate assets like commercial realty, residential property, warehouses, hospitals, hotels and shopping centres So, while mutual funds invest in equities or bonds, REITs invest in real estate and make [...] Continue Reading »

Mysore expressway firm-BF Utilities aims to restructure city

Mysore expressway firm-BF Utilities aims to restructure city
Nandi Economic Corridor Enterprise (NECE): The management of publicly-held BF Utilities during its AGM on Monday took into view the suggestions of its shareholders and said that it will appoint merchant bankers and consultants to look into the various options to restructure a subsidiary. It will consider various options to enhance shareholder value by restructuring [...] Continue Reading »

Metropolitan Development Authority decides plan for Hyderabad Habitat Centre

Metropolitan Development Authority decides plan for Hyderabad Habitat Centre
The Hyderabad Metropolitan Development Authority (HMDA) has concluded the concept for its Hyderabad Habitat Centre and sent it for acceptance of the municipal administration and urban development (MA&UD) department. The Hyderabad Habitat Centre (HHC) is constructed in about 12.5 acres at Izzatnagar near Hi-Tech City railway station, for promotion of heritage, art and culture on the lines [...] Continue Reading »

IRB starts work on Rs 4,139-cr road projects

IRB starts work on Rs 4,139-cr road projects
Two road projects in Karnataka and Maharashtra, which entail a cost of Rs 4,139 crore, have been started by IRB Infrastructure. IRB Infrastructure said in a filing to the BSE, that Rs 2,639-crore scheme for four-laning of a highway in Karnataka and the Rs 1,500-crore road widening project in Maharashtra are being implemented by company’s [...] Continue Reading »

Bank lending to subsidiary eased, good for infrastructure projects

Bank lending to subsidiary eased, good for infrastructure projects
Banks can provide infrastructure lending to special purpose vehicles (SPV) on the basis of the guarantees or security provided by a holding company. The Corporate Affairs Ministry has clarified that for loans made by a bank to a subsidiary company, a holding company can (without any limit) give guarantee or provide security. Bankers say that [...] Continue Reading »

Rs 9,477 crore projects to be implemented in Bangalore

Rs 9,477 crore projects to be implemented in Bangalore
Recently Chief minister Siddaramaiah presented the budget and announced that projects worth Rs 9,477 crore, to be implemented through the BBMP and the BDA, up from Rs 5,540 crore last year. The roads in Bangalore have been in miserable condition, adding to traffic woes in the city. City roads have been allocated Rs. 500 crore, [...] Continue Reading »

Metro rail projects lag behind in Gujrat

Metro rail projects lag behind in Gujrat
Metro project in Gujarat continues to face delays. Initial discussions were started in the year 2005. While the state government has approved the project, it is learnt that the detailed project report (DPR) is yet to receive centre’s approval. The project is handled by a special purpose vehicle (SPV) Metrolink Express between Gandhinagar and Ahmedabad [...] Continue Reading »

DB Realty planning to sell DB Hospitality stake

DB Realty planning to sell DB Hospitality stake
New Delhi- Real estate builder DB Realty said that its subsidiary DB Hospitality is trying to sell stake in proposed hotel project in Delhi International airport and discussions are still going on. In the processing towards the BSE, DB Real estate claimed that DB Hospitality Pvt Ltd (DBHPL) is usually possessing stake in order to [...] Continue Reading »



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