Real estate arm of the <keyword id="6400918" type="General" weightage="50" keywordseo="piramal-group" source="Orion">Piramal Group</keyword>, <keyword id="620925" type="General" weightage="80" keywordseo="piramal-realty" source="Orion">Piramal Realty</keyword>, and Jio-bp announced their partnership to provide world-class EV charging solutions across all <keyword id="100407" type="General" weightage="100" keywordseo="piramal" source="Orion">Piramal</keyword>'s residential projects in the Mumbai Metropolitan Region, a joint press release stated on Thursday. Jio-bp is a fuel and mobility joint venture between RIL and bp. As part of this partnership, customers and visitors to Piramal's residential projects will be able to charge their electric vehicles seamlessly at Jio-bp pulse EV charging stations at sites with the Jio-bp pulse mobile app. The first set of EV charging points at <keyword id="3415882" type="General" weightage="50" keywordseo="piramal-vaikunth" source="Orion">Piramal Vaikunth</keyword> in Thane were installed. Piramal Group said sustainability is a key pillar of Piramal Realty's business strategy and is integrated at all levels of its operations. The availability of EV charging infrastructure within its residential complexes ensures convenient charging of electric vehicles and boosts the confidence of potential electric vehicle buyers. Jio-bp constructed and launched many charging hubs along with hundreds of public charge points in various cities and major highways in India. Besides fixed charging, Jio-bp also offers <keyword id="5930710" type="General" weightage="80" keywordseo="battery-swapping" source="Orion">Battery Swapping</keyword> services through its large network of Battery Swapping Stations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/global-it-services-firm-accenture-slashes-19000-jobs-tech-mayhem-deepens/articleshow/98944217.cms">Global IT services firm Accenture slashes 19,000 jobs, tech mayhem deepens</a>

Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties

Mumbai, Jan 3 () <keyword id="370068" type="PERSON" weightage="20" keywordseo="Ashok-Piramal">Ashok Piramal</keyword> Group <keyword id="6384816" type="UNKNOWN" weightage="20" keywordseo="realty">realty</keyword> firm <keyword id="212999" type="DOMAIN" weightage="20" keywordseo="Peninsula-Land">Peninsula Land</keyword>, which delayed debt repayment of Rs 2.35 crore to <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>, has blamed the government for not paying rent on time for commercial property leased by tax departments that resulted in missing the due date. In a regulatory filing, the company said that it could not make the repayment of Rs 2.35 crore to SBI as the government's tax departments failed to make timely payment of the rent towards the property leased out to them.
 "The debt and interest against this facility are serviced by an arrangement whereby the monthly rent received from the government goes towards the discharge of the dues under the said facility. Lately, there have been delays in the payment of rent by the government which, in turn, resulted in delay in payment to SBI on the due date," the company said.
 Peninsula Land has obtained a lease rental discounting facility (LRD) from the SBI against the rent receivable from the government's tax departments, including the Income Tax and GST departments, in respect of a commercial property leased out.
 The company has borrowed secured term loan from SBI with the principal being of Rs 177.72 crore and having a total tenure of 143 months at an interest rate of 9.95 per cent per annum.
 "...in the month of December 2019 alone, the company has paid an amount of Rs 265 crore towards repayment of debt and interest obligations. Hence there is no question of defaulting for an amount as small as Rs 2.35 crore," the company said.
 At present, the company's total debt including short-term and long-term facilities stand at Rs 1,630.65 crore and it owes Rs 999.74 crore to banks and financial institutions.
 Currently, Peninsula has a portfolio of nearly eight million sqft in Mumbai and has projects in Pune, Nashik, Lonavala, Bangalore and Goa. PSK MJH MR

Ashok Piramal group realty firm says misses debt repayment as tax dept delays rent

Mumbai, Jan 22 () Piramal Group real estate arm Piramal Realty plans to invest Rs 1,500 crore for developing a residential project in Thane, targeting homebuyers with specific budgets by offering smaller configurations, a top company official said.
 Terming it 'value housing' segment, the company has for the first time configured size of the apartments to attract millennials with relatively smaller budgets.
 The project is a part of the 32-acre township project Piramal Vaikunth, which will be spread across five acres and have a development potential of 2 million sq ft. 
 "With millennials at the helm, we have witnessed an increased traction towards the value segment over the last few quarters. Our foray into this segment is in line with our expansion plans of creating presence across the consumer demand pyramid. We will be investing Rs 1,500 crore for this development," Piramal Realty founder Anand Piramal said. 
 The configurations of these homes would be 1, 1.5 and 2 BHK apartments with access to premium amenities starting at 350 sq ft carpet area at Rs 60 lakh.
 He further said the company plans to replicate the model in future expansion of its existing projects. However, he did not give further details on the same.
 The company will fund its investment plans through debt and internal accruals, Piramal said.
 Developers, across markets, who have been primarily in the luxury and premium residential projects, are trying to right-price and right-size their offerings to meet requirements of first time homebuyers. 
 Piramal Realty, which currently has 17 million sq ft of residential and commercial space under development in and around Mumbai, plans to add another 10 million sq ft of residential space under development in 2020. 
 "Along with this project, we will be launching a few more including the next phase of our Byculla project and the other at Mahim, which we are developing jointly with Omkar Realtors. Apart from these, we will be also considering a few stressed projects to achieve the 10 million sq ft target," Piramal said.
 Banks and financial institutions are approaching the company to take up projects which they have funded and are now stuck due to various reasons, he added. 
 "We are evaluating a few such deals. Moreover, its a good proposition for us as we will not have to make capital investments as these projects are already funded, but we will get project development fees," Piramal said. PSK
 RVK

Piramal Realty to invest Rs 1,500 cr for 'value housing' project in Thane

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> rose after the 25 basis point rate hike announced by the Reserve Bank of India on Wednesday.</li><li>Amongst sectoral indices, metal and IT led the gains, while auto and realty stocks declined.</li><li>The 30-stock Sensex gained 0.6% or 358 points to 60,643, while the 50-stock Nifty50 rose 0.7% or 124 points to 17,845 as of 12:15 p.m.</li></ul>India’s benchmark indices Sensex and Nifty50 rose after the 25 basis point rate hike announced by the Reserve Bank of India on Wednesday. Amongst sectoral indices, metal and IT led the gains, while auto and realty stocks declined. The 30-stock Sensex gained 0.6% or 358 points to 60,643, while the 50-stock Nifty50 rose 0.7% or 124 points to 17,845 as of 12:15 p.m. Earlier on Tuesday, both Sensex and Nifty50 capped off a volatile trading session and closed in the red after a selloff in FMCG and steel stocks. While the 30-stock Sensex declined 0.37% or 221 points at 60,286, the 50-stock Nifty50 ended 0.24% or 43 points lower at 17,722. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.93% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp. </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.21% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.01% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.99% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.55% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.96% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.89% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.85% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.39% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.99% </td></tr></tbody><tbody></tbody></table> Source: NSE, as of 12:15 p.m., February 8, 2023 “The rate hike was in line with expectations. However markets were expecting an explicit statement suggesting a pause which has not happened. This suggests the tug of war between growth and inflation continues. While chances of pause still remain, the uncertainty may persist,” said Lakshmi Iyer, CEO-Investment Advisory, Kotak Investment Advisors. <cmsannotation type="cmsannotation" annotationid="Investors turn their focus on RBI MPC outcome" comment="subhead" text="Investors turn their focus on RBI MPC outcome">Investors turn their focus on <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> MPC outcome</cmsannotation> Investors await the outcome from RBI’s monetary policy meeting today that will provide direction to the market. Markets expect a 25 basis points hike in repo rate to 6.5%. The last time <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI hiked repo rates was in December</a>, with the hike standing at 35 basis points. “RBI’s policy announcement on Wednesday will provide more colour on its future rate actions, which is expected to hike rate by 25bps,” said Vinod Nair, head of research at Geojit Financial Services. <cmsannotation type="cmsannotation" annotationid="US markets rebound on Powell commentary" comment="subhead" text="US markets rebound on Powell commentary">US markets rebound on Powell commentary</cmsannotation> Markets in the US rebounded on Tuesday as investors rejoiced on US Fed chair Jerome Powell’s comments that “disinflation is underway”. The benchmark S&amp;P 500 closed 1.29% higher, while the Dow Jones Industrial Average gained 0.78%. The tech-heavy Nasdaq, on the other hand, gained 1.9%. Asian markets were mixed on Wednesday, with Taiwan Weighted being flat in the morning, while the Hang Seng index was marginally down. KOSPI gained 1.37%, while Nikkei 225 was down 0.52%. Shanghai Composite declined 0.09%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>: India’s second largest telco missed analyst estimates and r<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-q3-net-profit-jumps-91-to-1588-crore-misses-estimates/articleshow/97698481.cms">eported a below-expected</a> net profit in Q3 at ₹1,588 crore. Revenue was slightly higher than estimates, at ₹35,299 crore, while average revenue per user edged up to ₹193 in Q3 from ₹190 in Q2. <keyword id="6357252" type="General" weightage="20" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword>: The two-wheeler maker reported a 4% growth year-on-year to ₹711 crore on muted sales, while revenue edged up just 2% YoY to ₹8,031 crore. Its total sales declined 4% YoY to 12.4 lakh units. <keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>: It allocated 16.13 crore shares or about 33.44% stake to the government, making it the single largest shareholder. <keyword id="4343578" type="General" weightage="80" keywordseo="adani-green" source="Orion">Adani Green</keyword>: The company reported a 110% YoY increase in net profit to ₹103 crore, while revenue surged 41% to ₹1,973 crore. Earnings today: Adani Power, Adani Wilmar, Shree Cement, Cummins India, Graphite India, Piramal Enterprises, Equitas Small Finance Bank, among others. <cmsannotation type="cmsannotation" annotationid="Stocks in F&amp;O ban" comment="subhead" text="Stocks in F&amp;O ban">Stocks in F&amp;O ban</cmsannotation> Ambuja Cements is under F&amp;O ban today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-hit-25-upper-circuit-after-govt-agrees-to-convert-16133-cr-dues-into-equity/articleshow/97643006.cms">Vodafone Idea shares hit 25% upper circuit after govt agrees to convert ₹16,133 cr dues into equity</a> <a href="https://www.businessinsider.in/stock-market/news/adani-stocks-59844-crore-market-capitalisation-wiped-out-today-in-morning-trading/articleshow/97638076.cms">Adani group stocks continue to plummet – lose ₹31,534 crore in market capitalisation on Monday</a>

Sensex, Nifty50 surge post RBI rate hike – IT, metal stocks lead gains while auto, realty stocks drag

New Delhi, Dec 12 () Piramal Realty on Thursday said it has formed a joint venture with Omkar Realtors to develop a project in Mumbai and will invest Rs 3,000 crore over the next few years.
 Piramal Realty, the real estate development arm of diversified conglomerate Piramal group, announced its second joint development agreement (JDA) with Omkar for a residential project in Mahim this week.
 The company intends to develop 2.2 million sq ft over 4 acres and plans to invest Rs 3,000 crore over the next few years.
 The development benefits from being in close proximity to Mumbai's premiere business district of Bandra Kurla Complex (BKC). This would be the largest residential development in the Mahim/BKC area.
 "At Piramal Realty, we are excited to develop this prime parcel which is not only a few minutes from the sea link but also enjoys beautiful views of the sea, mangroves and other open spaces. With the opening of several world class malls, restaurants, hotels, schools and theatres, BKC will this year become the social and cultural nerve centre of the city," said Anand Piramal, founder, Piramal Realty.
 The company achieved a total sales booking worth Rs 3,400 crore last fiscal.
 Founded in 2012, Piramal Realty is one of the country's leading developers with 17 million sq ft of residential and commercial under development in and around Mumbai.
 In 2015, Warburg Pincus and Goldman Sachs invested USD 235 dollars for a minority stake in the company. MJH HRS

Piramal Realty forms JV with Omkar Realtors for project in Mumbai, to invest Rs 3,000 cr

New Delhi, Dec 11 () Piramal Group and IIFL Wealth Management on Wednesday said they have set up Rs 2,000 crore corpus for last-mile funding in real estate projects across major cities.
Piramal and IIFL Wealth Management announced a "co-investment on an Alternative Investment Fund (AIF) platform to fund select advance stage / last-mile real estate projects across Tier-1 cities in India".
This AIF with a target size of Rs 2,000 crore will be used to provide capital to tier-I developers in key markets, the company said in a statement.
Real estate sector is facing multi-year slowdown, especially in housing segment, and developers are cash-starved following liquidity crisis in non-banking finance companies, which have been a major sources of funding for builders in the last few years.
"The market today presents many opportunities for last-mile finance across projects that require a minimum amount of gap funding for completion," the statement said.
Piramal Group is engaged in primary development as well as wholesale funding in real estate. It also has a fiduciary fund management business across multiple funds and mandates across structured, preferred and pure equity.
IIFL Wealth is one of the leading wealth managers in the country, with aggregate assets of around Rs 1,70,000 crore under management, advice and distribution. It has more than 950 employees and presence in 6 major global financial hubs and 23 locations in India.
"The creation of this AIF is in line with Piramal Group's strategy to build newer platforms for co-lending with liked-minded reputed institutions. We will initially seed the fund with existing loans from Piramal Group's portfolio, while continuing to explore quality deals from the market in future," said Khushru Jijina, Managing Director, Piramal Capital &amp; Housing Finance Ltd.
With this, Piramal will also be facilitating external capital (on a fund or co-investment basis) alongside its lending business. This will enable Piramal Group to continue to further grow the lending business through a new co-investment/co-origination model.
Karan Bhagat, Founder, MD &amp; CEO, IIFL Wealth Management said: "Piramal's deep domain expertise in real estate and IIFL Wealth's ability to seize the best market opportunities have resulted in well-structured investment idea which will provide clients an ideal risk-adjusted return".
IIFL Asset Management has raised a cumulative AUM (asset under management) of around Rs 7,000 crore across 8 real estate funds, till date. Of which, it has fully exited first two funds, generating gross IRRs (internal rate of returns) of 18-22 per cent.
Piramal group, led by Ajay Piramal, has presence in industries such as healthcare, financial services, healthcare information management, glass packaging and real estate. Valued at around USD 7.3 billion, with operations in 30 countries and brand presence in over 100 markets, the group's turnover is USD 2.2 billion in FY2019. MJH BAL

Piramal grp, IIFL Wealth Management create Rs 2,000 cr fund for realty projects

<img class="gwt-Image" src="/photo/48513325.cms" /> 
US investment bank <a href="http://www.businessinsider.in/searchresult.cms?query=Goldman+Sachs+">Goldman Sachs</a> is going to invest $150 million (Rs 900 crore) for a minority stake in <keyword id="620925" type="PERSON" weightage="80" keywordseo="Piramal-Realty">Piramal Realty</keyword>, a <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate+development+">real estate development</a> arm of the <keyword id="6400918" type="COMPANY" weightage="80" keywordseo="Piramal-group">Piramal Group</keyword>. 
 
The money generated will be used to expand Piramal Realty's current real estate portfolio and to buy properties in and around Mumbai, reported the Economic Times. 
 <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> has helped develop some of the world's finest buildings, such as 15 Central Park West in <a href="http://www.businessinsider.in/searchresult.cms?query=New+York+">New York</a> and 16 Colleyers Quay in <a href="http://www.businessinsider.in/searchresult.cms?query=Singapore">Singapore</a>. It is one of the leading investors in real estate sector in the world. 
 “Its (Goldman Sachs) experience and expertise will further inspire us to build world-class developments in India and achieve the highest standards of design, technology, quality, execution and customer service," <keyword id="192487" type="PERSON" weightage="60" keywordseo="Anand-Piramal">Anand Piramal</keyword>, executive director at Piramal Group, said in a statement on Monday. 
 
The real estate firm will also launch a buy back guarantee scheme called 'Piramal Assurance' under which it will offer to buy back any residential unit from a customer at a 5% discount to the market value until possession should a buyer not be satisfied. 
 
"For most customers, buying a home is their single largest and most important investment. Our 'Assurance' will reduce the financial risk of purchase and provide peace of mind for customers, who will know that their <a href="http://www.businessinsider.in/searchresult.cms?query=investment+">investment</a> is safe and liquid," said Piramal. 
 Ankur Sahu, co-head of <keyword id="34499" type="POSITION" weightage="60" keywordseo="private-equity">private equity</keyword> at Goldman Sachs in Asia has confirmed the development, saying the bank is excited to work with the Piramal Group. 
 
"This investment is consistent with our ongoing strategy of partnering with India's leading entrepreneurs to invest in sectors critical to the country's development. The government's focus on simplifying regulation and boosting economic growth will kick start investment and consumption," Sahu said. 
 Last month, private equity giant <keyword id="6402698" type="COMPANY" weightage="80" keywordseo="Warburg-Pincus">Warburg Pincus</keyword> had picked up a minority stake in Piramal Realty for Rs 1,800 crore. 
 
(Image: Reuters)

Goldman Sachs to invest Rs 900 crore for a minority stake in Piramal Realty

<img class="gwt-Image" src="/photo/46756464.cms" /><keyword id="2258685" type="UNKNOWN" weightage="80" keywordseo="Piramal-Fund-Management">Piramal Fund Management</keyword> (PFM) today said it has sanctioned Rs 1,200 crore in financing for a high-end residential project being developed by Omkar Realtors in the metropolis. 
 The Fund, a unit of <keyword id="1151421" type="ORGANIZATION" weightage="80" keywordseo="Piramal-Enterprises-Ltd">Piramal Enterprises Ltd</keyword>, claimed it was one of the biggest realty project <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">finance</keyword> transactions in recent times. 
 
 
Of the total commitment, Rs 400 crore will be used to refinance existing lenders, while the balance Rs 800 crore has been secured against a 20:80 scheme and is to be released in a staggered manner over the next two years as the project progresses, PFM said in a statement here. 
 
 'Omkar 1973' is the flagship property of the city- based realtor involving three <keyword id="6484392" type="UNKNOWN" weightage="80" keywordseo="high-rise">high rise</keyword> towers coming up on a nine-acre land parcel in Worli, Central Mumbai. 
 
Over 4 lakh sq ft, or 60 per cent of the under- construction project, has already been booked, the statement said, adding the builder is targeting for a delivery in 2017. 
 
 "The construction finance component of our transaction will be utilised towards <keyword id="6357455" type="EVENT" weightage="80" keywordseo="Funding">funding</keyword> interim construction costs and is further secured by both the 80 per cent receivables from the area sold as well as a substantial portion of additional area retained as security on a exclusive basis," the Fund said, explaining the deal's structuring. 
 PFM <keyword id="24973" type="POSITION" weightage="80" keywordseo="managing-director">Managing Director</keyword> <keyword id="1473999" type="PERSON" weightage="80" keywordseo="Khushru-Jijina">Khushru Jijina</keyword> called it a "novel structure" which involves a combination of senior debt and secured project funding. 
 
 The Ajay Piramal-led Piramal Enterprises also has interests in <keyword id="34499" type="POSITION" weightage="80" keywordseo="private-equity">private equity</keyword> <keyword id="6362476" type="ORGANIZATION" weightage="80" keywordseo="investments">investments</keyword> in <keyword id="6354553" type="COMPANY" weightage="80" keywordseo="real-estate">real estate</keyword> and developing land banks, among other areas.

This high-end real estate project in Mumbai has
just received Rs 1200cr funding

<ul><li>India’s equity markets are likely to open on a weak note on Friday amid mixed global cues. </li><li><keyword id="90570" type="General" weightage="80" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.1% or 16 points early in the morning today. </li><li><keyword id="68124" type="General" weightage="80" keywordseo="hal" source="Orion">HAL</keyword>, <keyword id="6355199" type="General" weightage="100" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, <keyword id="88972" type="General" weightage="20" keywordseo="it-stocks" source="Orion">IT stocks</keyword> will be in focus on Friday. </li></ul>India’s equity markets are likely to open on a weak note on Friday amid mixed global cues. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was down 0.1% or 16 points early in the morning today. Earlier on Thursday, the markets ended lower with the <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> declining 0.5% to close at 57,925, while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> fell 0.44% to close at 17,077. Crude oil prices continued to soften on sombre global economic outlook. Brent crude oil prices declined 0.13% on Friday morning to $75.74 per barrel. Gold prices climbed by over INR 800 to INR 59,591 per 10 grams. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Positive comments from US Treasury secretary Janet Yellen helped US markets climb, with Dow Jones rising 0.15% while S&amp;P 500 gained 0.23%. The tech-heavy Nasdaq rose 1.01%. Markets in Asia, however, were largely in the red on Friday morning. KOSPI and Shanghai Composite were both down 0.64%, while the Hang Seng was 0.33% in the red. Nikkei 225 fell 0.26%, while Taiwan Weighted was marginally up by 0.05%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Hindustan Aeronautics: The government is about to now sell 3.5% stake in the aerospace and defence company with 1.75% of base offer along with an additional 1.75% by exercising greenshoe option as the offer for sale was subscribed 4.5 times its base size. The issue will open for retail investors on Friday. Government owns a 75% stake in the company. IT stocks: The IT sector is likely to get affected after its peer <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> reported a revenue of $15.81 billion in Q2 beating its guidance of $15.2-$15.75 billion. It has also revised down FY23 revenue guidance to 8% to 10% from 8% to 11% earlier. It also announced to lay off 19,000 employees, which are 2.5% of its headcount due to wage inflation and cost streamlining. Reliance Industries: Piramal Realty and Jio-bp have partnered to install EV charging stations across Piramal’s residential projects in Mumbai. Jio-bp is a joint venture between <keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword> and bp announced on March 23. Vedanta: The company’s board will consider payment of fifth interim dividend for FY23 on March 28. SpiceJet: The low fare airline is planning to sell more shares in the company to reduce its liabilities as its liabilities at the end of December quarter stood at ₹14,000 crore, as per reports. Campus Activewear: American alternative asset management firm TPG Global has planned to sell 7.62% stake worth ₹800 crore in the company via block deal of ₹345 per share, say reports. Canara Bank: The lender has sold its stake in Russian joint venture Commercial Indo Bank LLC to the other venture partner State Bank of India for about ₹121.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/16-startups-have-laid-off-100-percent-employees-in-2023-so-far-3-of-them-in-india/slidelist/98941663.cms">16 startups have laid off 100 percent employees in 2023 so far – 3 of them in India</a> <a href="https://www.businessinsider.in/business/news/time-to-buy-your-new-hot-wheels-automakers-set-to-increase-prices-of-vehicles-to-meet-stricter-emission-norms/articleshow/98940916.cms">Time to buy your new hot wheels? Automakers set to increase prices of vehicles to meet stricter emission norms</a> <a href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a>

Sensex, Nifty50 likely to open a weak note amid mixed global cues: HAL, Reliance Industries, IT stocks in focus on Friday

New Delhi, Jul 13 () ITC Hotels on Monday said it has partnered with food delivery platform Zomato to offer its customers dining experiences in the comfort of their homes. This partnership comes after the hospitality chain's partnership with Swiggy, announced in May this year. The association with Zomato further strengthens ITC Hotels' pan India distribution footprint for home delivery and takeaway. This will widen the outreach of the chain's signature culinary offerings to thousands of customers, ITC Hotels said in a statement. Zomato, as an online aggregator, will not only enable 'contactless' deliveries on all pre-paid orders, but will also provide patrons of ITC Hotels the option of takeaway menus via this platform, it added. * * * * * Piramal Realty sets up online portal for township project Mumbai: Piramal Group real estate arm Piramal Realty on Monday said it has adopted a digital platform for sales by making its inventory at its township project Piramal Vaikunth in the neighbouring Thane district available online. Starting with tower 2 of cluster 3 at Piramal Vaikunth, Piramal Realty has introduced a complete online booking process for customers which includes finding an apartment, completing the booking form and making the payment through a secured link. AKT PSK MR MR

ITC Hotels expands dining outreach with Zomato partnership

<ul><li>It is after a long time that we have consistently seen <keyword id="2727" type="General" weightage="20" keywordseo="rahul-dravid" source="Orion">Rahul Dravid</keyword> in the brandverse.</li><li>After his association with CRED, Dravid has signed up a few more brand deals with Piramal Realty, Practo, Orchids, to mention a few.</li><li>According to TAM sports, Dravid had about a 4% share in television advertisements during the first half of 2021. He was also the eighth most-loved sports celebrity in India this year.</li><li>So, as the Former Indian captain dons a new role in Indian cricket history and bags more brand deals, we speak to brand custodians to find out the reasons behind his comeback and decode his equity as a brand endorser.</li></ul>Rahul Dravid, team India’s newly appointed head coach, has found his space back into the brandverse after his clutter-breaking and memorable performance in <a href="https://twitter.com/imvkohli/status/1380451732690411521?s=21">CRED’s campaign</a>. The brand had unleashed Dravid’s unseen side and the audience was astonished! Apart from breaking other bowlers’ patience, we have never seen Dravid break anything or lose his calm at all. We certainly did not expect the zen Rahul Dravid to react as we do in traffic. This Indiranagar ka Gunda won millions of hearts with his acting skills and his ad went on to become the <a href="https://www.businessinsider.in/advertising/brands/article/creds-ad-featuring-rahul-dravid-was-the-most-viral-ad-in-ipl-2021-report/articleshow/87279382.cms">most viral ad during IPL 2021. </a> Since Dravid’s association with CRED, his popularity seems to be growing steadily. He has signed up a few more brand deals with Piramal Realty, Practo, Orchids, to mention a few. On the field, he was fondly referred to as ‘The Wall’ or ‘Mr Dependable’ for acting as the team’s silent saviour and guiding them out of troubled waters time and again. He was also known as one of the most disciplined cricketers with a sound technique and at one point, he was a bowler’s nightmare. However, he lived under Sachin Tendulkar’s shadow during his entire career and in the last decade, after he resigned from international cricket, he was replaced by MS Dhoni and Virat Kohli in the marketing world too. After experiencing a dry spell in the ad industry for years, he has finally made a comeback. According to TAM sports, Dravid had about a 4% share in television advertisements during the first half of 2021. <a href="https://www.businessinsider.in/advertising/media/article/top-10-sports-celebrities-of-the-brandverse-in-2021-as-per-tam/slidelist/85649566.cms">He was the eighth most-loved sports celebrity in India. </a> Telling us the reasons behind Dravid’s rising popularity, Lloyd Mathias, Business Strategist and former marketer at HP, Motorola and PepsiCo, said, “Rahul has always been a thinking cricketer known for his poise, balance and maturity and his batting best described by the moniker ‘the wall’ have always been the mainstay of India’s cricket through the late nineties and 2000s. So even after his retirement from international cricket, his association with the game as the captain of IPL team Rajasthan Royals and as the head of the National Cricket Academy NCA continued. Another reason for the renewed brand interest is the fact that Dravid is now the Head Coach of the Indian cricket team, one of the key positions in Indian sport. This brings him Centerstage as he helps navigate India’s cricket team over the next few years.” Athletes and sports personalities disappear from the limelight once their sporting career comes to an end. However, Dravid has managed to stay relevant. N. Chandramouli, CEO, TRA is confident that Dravid’s brand value will only rise in the coming years. He said, “Rahul Dravid has kept his brand relevant, but not over-exposed, and therefore even at 48 years, he is likely to see his brand value grow over the years.” So, what’s the secret behind this? Chandramouli says, “Sportspersons usually have a short shelf-life for endorsements, and it declines sharply after their sporting careers are over. However, the two-decade career of Rahul Dravid has had glittering successes and his dependability on the field is legendary. His calm, non-controversial demeanor is at its batting best off the field too. He is a brand’s dream as an endorser, especially for those who want to show dependability.” Shashwat Das, Founder and Director, Almond Branding said that The Wall of Indian cricket will never go out of fashion and the CRED campaign has only strengthened his position as an endorser. He said, "Just last week the batting legend has been officially appointed the head coach of the Indian cricket team. That clearly shows that he has miles to go as far as his contribution to Indian cricket is concerned. The same holds true for the brandverse! I would say his PR team has been doing a commendable job and is a big force behind not only his comeback to the brandverse but also pushing him beyond his typical gentlemen arena. Jammy’s act of breaking things as “Indranagar ka Gunda” was clearly breaking the internet. After CRED, we suddenly are ready to see much more from him. I am sure we will see many more of his brand endorsements in the coming year." With 18.9k followers on Instagram, Dravid’s social media following also adds to the potential consumer base for the associated brands, especially during the lockdown when most of the brands had little to no access to the traditional channels of advertisement. Over the years, Dravid has also managed to stay clean from any controversy -- making him a safe bet for brands. He has endorsed everything from grooming products to insurance brands, staying four feet apart from pan masala brands. In fact, he was a part of a<a href="https://youtu.be/6fOUNhW1YVY"> Tobacco control campaign</a> that helped him reiterate his principles and ethics to consumers. It is his charming personality and tactical acumen that he has always held a special place in India’s marketing world. He has emerged as the perfect option for brands who want to establish themselves as the ‘pillar of strength and trust.’ “Dravid’s allure for brand is his mature and untarnished reputation who has always played fair both on and off the field. A player who despite his awesome achievements has remained controversy-free, stayed low profile and shunned the limelight. This archetype is generally rare among sportspersons and movie stars and makes for a brand endorser that many stable brands would opt for. I think his personality makes a great fit for categories that work around tradition, and value trust and dependability - BFSI, Technology, FinTech and Education/EdTech,” said Mathias. He also said that Dravid’s equity might see a hike after his recent appointment as India’s Head Coach. Mathias added, “Dravid's brand equity should see an upsurge with the Indian cricket head coach role. Brands may see the appeal of someone who’s nationally revered, had a great playing career, morphing into an astute administrator and coach combined with a positive and untarnished reputation as a great rub off.” While we all know that brands chase numbers, some celebrities live forever. Dravid, the wall of Indian Cricket Team, is one of those stars who will shine for years to come. His brand image, relatability and followership continue to remain strong and experts expect the same trend going forward.

Decoding Rahul Dravid’s rising popularity among brands

Pub<keyword id="6367143" type="COMPANY" weightage="20" keywordseo="LIC">lic</keyword> sector firms like LIC, SBI and <keyword id="6354412" type="DOMAIN" weightage="20" keywordseo="indian-oil">Indian Oil</keyword> are in race with large conglomerates like JSW, GlaxoSmithKline and Piramal for getting naming rights on the 33 km Colaba-Bandra-SEEPZ Metro-3 corridor. The <keyword id="497173" type="COMPANY" weightage="20" keywordseo="Mumbai-Metro-Rail-Corporation">Mumbai Metro Rail Corporation</keyword> (MMRC), which is implementing the project, has received 87 expressions of interest (EOIs) to acquire rights to name 18 stations. In all, 28 organisations have expressed their interest in naming rights, with many of them showing interest in multiple stations, MMRC said in a statement. These include large PSUs like LIC, Indian Oil, banking and financial institutions like SBI, Bank of Baroda, UTI, Kotak, IDFC First, HSBC, airlines like Indigo, SpiceJet, and corporates like JSW, GlaxoSmithKline, TimesGroup, Blackstone, Phoenix Mills, Piramal, Oberoi, DB Realty among others. "The BKC station, being the most significant business district in the city, was the most sought-after station with 12 EOIs. Dadar and Airport Terminal 2 stations were joint second, receiving nine EOIs each, followed by Airport Terminal one and CSMT with seven EOIs each," it said. The EOI process was managed by non-fare revenue consultants Auctus Advisors and StudioPOD. "This level of response confirms our view that organizations and businesses in Mumbai have a significant commercial value to a long-term association with the metro network. Given its high ridership and reach, the organizations appreciate the impact and visibility it provides," MMRC Managing Director Ranjit Singh Deol said. He further said that non-fare revenue is critical for the sustainable operations of any transportation network, which helps keep passenger tariffs under check. "Stations naming rights is a critical source contributing significantly to overall of non-fare revenue. Besides us, the organisations will also benefit by naming stations and associating with a vital metro corridor which will change the way Mumbaikars travel today," he added. <keyword id="247110" type="PERSON" weightage="20" keywordseo="PSK">PSK</keyword> MRMR

You Searched For "Piramal Realty" and got 12 results

Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties

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Goldman Sachs to invest Rs 900 crore for a minority stake in Piramal Realty

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This high-end real estate project in Mumbai has just received Rs 1200cr funding

BI India Bureau

Sensex, Nifty50 likely to open a weak note amid mixed global cues: HAL, Reliance Industries, IT stocks in focus on Friday

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ITC Hotels expands dining outreach with Zomato partnership

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Decoding Rahul Dravid’s rising popularity among brands

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LIC, GSK and Indian Oil rush to tag their names with Mumbai Metro stations

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