Page 24 - CO_December_2022

TICKER TAPE
CONSTRUCTION Infiniti Retail, a subsidiary of the Tata Group, has picked up nearly of the letter of intent, signing of the lease deed, and the lease
INFINITI RETAIL LEASES 6.30 LAKH SQ FT AT WELSPUN
ONE’S BHIWANDI LOGISTICS PARK FOR 18 YEARS
commencement date. As part of the deal, Infiniti Retail will get
exclusive access to a total 373 parking slots comprising 15 car
6.30 lakh sq ft warehousing space at Welspun Logistics Park in
parks, 278 bike parks and 50 truck parks. Infiniti Retail and Welspun
Bhiwandi near Mumbai through a long-term lease of 18 years.
One remained unanswered until the time of going to press. At
its Bhiwandi and Gurgaon’s Farukhnagar logistics parks, Welspun
The consumer durables and electronics retailer, operating under
One has recently delivered operational warehousing facilities
the brand name Croma, has entered into an agreement for the
same with DBG Estates, a subsidiary of Welspun One Logistics
Parks (WOLP), an integrated fund, development, and asset
logistics company Ecom Express. The demand for warehousing
management organization. The company will be paying a total spread over 4 lakh sq ft to e-commerce focused tech-driven
space has stood out in the last few quarters led by penetration
lease rental of `531 crore through the entire term of the lease. The of e-commerce and growth of third-party logistics in the middle
rentals including the common area maintenance charges in the of the ongoing pandemic scenario. According to experts, the
first year will be `1.63 crore per month for this warehousing space. accelerated adoption of e-commerce, same-day or next-day
As part of the agreement, DBG Estates is not allowed to terminate delivery commitments fulfilled by third-party logistics companies,
the lease until its tenure comes to an end, while Infiniti Retail will and the need to diversify supply chains are pushing demand
have a lock-in period of 48 months, showed the documents for warehousing and logistics. A favourable regulatory backdrop
accessed through CRE Matrix, a real estate data analytics firm. along with the government’s support through policy and reforms
The company will get rent-free access to the property for three are further expected to boost the infrastructure spend and in turn
months for fitouts. While the early access will be given to Infinity the overall demand for modern warehousing. The industrial and
Retail on February 1, 2023, the final handover of the leased logistics segment has become a key growth driver in real estate
premises after the completion of handover of the leased premises and expansion of the online retail sector has resulted in greater
will be on May 1, 2023. Infiniti Retail will be paying security deposit demand for warehousing, thereby resulting in higher investments
of a total `6.51 crore in three tranches including the execution in infrastructure and supply chain modernisation.

TATA CAPITAL HOUSING FINANCE LOOKING TO RAISE KSB WINS `28 CRORE PROJECT FROM BHARAT PUMPS
`3000 CRORE FROM NHB AND COMPRESSORS
In order to expand its business, Tata Capital Housing Finance, a KSB Limited has bagged an approval for bid submitted under
Tata Capital subsidiary, intends to make a significant push into e-Auction for sale of technology - Intellectual Property Rights /
the home loan market. To do so, it is looking for capital of `3,000 Drawings of Bharat Pumps and Compressors Limited (BPCL),
crore from the National Housing Bank and intends to raise `1,000 Naini, Prayagraj. As per the filing, the Company is in process of
crore through bonds. Both retail and real estate developers will be accepting the said contract of sale of technology by BPCL, by
eligible for financing from the organisation. paying the required security deposit. The security deposit is to be
The funds are being sought as the company’s loan portfolio paid within 7 days of approval of bid and the balance payment
grows, going from `29,311 crore on March 31 to `33,201 crore as alongwith applicable taxes and duties to be paid within 21 days of
of September 30 this year. Loans to real estate developers made approval of bid. On receipt of balance payment by BPCL, Delivery
up the remaining 55% of the overall portfolio, followed by loans Order will be issued to the Company. Total bid price is `28 crore
against property (27%), and retail housing loans (55%). plus applicable taxes and duties.

JK TYRE & INDUSTRIES TO INVEST `1,100 CRORE IN For the second quarter ending September 30, 2022, JK Tyre &
INCREASING PRODUCTION CAPACITY OVER 2 YEARS Industries reported a 23% fall in net profit to `50 crore. However,
With consumer demand soaring in rural and semi-urban regions overall revenue climbed to `3,764 crore in the reviewed period
throughout the holiday season, JK Tyre & Industries is on track to from `2,998 crore in Q2FY22. The company’s operational margins
invest `1100 crore over the next two years to increase production increased as a result of favourable market circumstances.
capacity. “While globally there are concerns that may slow down Due to improved economic activity and increased government
growth in overseas markets, there is a buoyancy in demand here,” spending on infrastructure projects, the company anticipates
Anuj Kathuria, President (India), JK Tyre & Industries, told ET. Sales that demand in the domestic market will continue robust moving
have gotten a boost from the holiday season, especially in rural forward. With some easing witnessed in pricing last quarter, pressures
and semi-urban regions. We are preparing for increased levels of from the unheard-of rise in raw material costs - seen in the prior
production with regular monsoons and a growing rural economy. seven quarters - are also anticipated to ease off moving forward.

WELSPUN ONE AND KARNATAKA GOVT SIGN MOU FOR corporation wants to invest a total of `2,000 crore in Karnataka.
`2,000 CRORE INVESTMENT Over a five-year period, 6.28 million square feet will be devoted
A Memorandum of Understanding (MoU) has been signed to the construction of the warehouses and logistics parks, which
between the government of Karnataka and Welspun One will result in the creation of more than 6,000 jobs.
Logistics Parks (WOLP), an integrated fund, development, and Welspun One stated in a release that it aims to efficiently
asset management firm, to increase WOLP’s footprint in the South utilize both public and private land parcels in Karnataka for the
Indian warehousing market. With the aid of this partnership, the development of Grade A storage facilities and logistics parks.

24 CONSTRUCTION OPPORTUNITIES|DECEMBER 2022