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CONSTRUCTION Housing Units in Hulhumale, Republic of Maldives (Pkg-III) awarded Godrej Properties plans to invest around `7,500 crore over the next
GODREJ PROPERTIES PLANS `7,500 CR INVESTMENT IN
NEXT 12-18 MTHS TO ACQUIRE, DEVELOP NEW PROJECTS
to M/s Varindera Constructions Limited.
Work for Construction of 600 Nos. (2BHK) Social Housing Units in
12-18 months on acquisition and development of new real estate
Hulhumale, Republic of Maldives (Pkg-I) awarded to M/s Renaatus
Projects Private Limited worth $28,900,000/-
projects. The company is upbeat on the growth potential in the
Work awarded to M/s Krishna Builder for Development of urban
housing and commercial real estate segments especially in four
major markets -- Mumbai Metropolitan Region (MMR), Delhi-NCR,
forest in KNDA area under Vyasanagar Municipality for pollution
control measures, Jajpur, Odisha for `57,44,59,751/-.
The company will invest $1 billion (around `7,500 crore) over
Work for Construction and Development of REC Township
the next 12-18 months on development of new projects, the
at Sector-57, Gurugram awarded to M/s Jai Jai Ram Singh Bengaluru and Pune -- where the company has a huge presence.
Infrastructure Private Limited for `86,50,90,370/-. planned investments would be in mix of equity and debt.Godrej
Properties, the largest listed realty firm in the last fiscal in terms of
PROVIDENT HOUSING LAUNCHES ITS FIRST RESIDENTIAL sales bookings, acquires new projects through outright purchase
PROJECT IN KOCHI of land parcels and also forming joint ventures with land owners.
The latest venture will see a project value of `3,000 crore In March last year, Godrej Properties had raised `3,750 crore
Provident Housing Limited (PHL), a 100 per cent subsidiary of through Qualified Institutional Placement (QIP) process as part
Puravankara Group, is set to make its first footprint in Kerala. The of its objective to strengthen the company’s balance sheet and
company has announced the launch of Provident Winworth in future business growth.
Kochi. The latest venture will see a project value of `3,000 crore. Its net debt is mere `313 crore as on December 31, 2021. The
It is also one of the four projects that Provident has received an debt equity ratio is also only 0.04. The company intends to enter
inflow of capital from the International Finance Corporation (IFC) Hyderabad in a big way and not just for development of one or
and the IFC Emerging Asia Fund. two projects. The company is likely to achieve an all-time high
Over the last 13 years, Provident Housing Limited has continued sale bookings in the 2021-22 financial year, beating the last year’s
to dominate the country’s residential real estate. PHL accounts record of `6,725 crore. During the first nine months of the current
for 42 per cent of Puravankara Group’s launch pipeline. The 2021-22 fiscal year, the company has clocked a sales bookings of
company has launched 21 million sq ft of projects across 9 cities `4,613 crore -- up 13 per cent from the year-ago period. Out of the
— Bangalore, Chennai, Hyderabad, Mumbai, Pune, Goa, Kochi, total sales bookings, residential properties contributed `4,559 crore
Coimbatore and Mangalore, out of which 12 msft has been and commercial `54 crore. Mumbai-based Godrej Properties
delivered. Ltd, which is part of business conglomerate Godrej Industries Ltd,
plans to launch two housing projects in the national capital in
AMBUJA CEMENTS PLANS `3,500 CRORE EXPANSION the next 2-3 months. Recently, Godrej Properties Ltd reported that
Swiss-based Holcim Group’s Ambuja Cements unit has announced its consolidated net profit in December quarter nearly trebled to
an investment of `3,500 crore for the expansion of around 7 mt `38.95 crore. Its net profit stood at `14.35 crore in the same period
across its existing grinding units at Sankrail and Farakka in West of 2020-21. Total income increased to `466.91 crore in the quarter
Bengal and for a greenfield expansion at Barh in Bihar. from `311.12 crore in the corresponding period of the previous
The company is also looking at expanding an existing 3.2-million- year. Net profit jumped multi-fold to `91.68 crore during the first
tonne clinker facility at Bhatapara, Chhattisgarh. nine months of 2021-22 from `2.19 crore in the year-ago period.
Total income rose to `1,063.12 crore during the April-December
ACC BAGS KANNUR LIMESTONE BLOCK IN KARNATAKA period of this fiscal year from `757.01 crore a year ago.
ACC Ltd has been declared as successful bidder for Kannur Earlier this month, the company announced plans to invest `700
Limestone Block in Karnataka. Through this mining block, the crore in D B Realty but later cancelled the proposed deal after
company has secured estimated limestone resources above 250 its minority shareholders and other stakeholders raised concerns.
million tonnes, ACC said in a statement without disclosing its bid There were concerns with the structure of the investment as well as
amount. This limestone block is in close proximity to the company’s with the slum redevelopment business in general.
existing Wadi cement plant, it added. Established in 2010, Godrej Properties has successfully delivered
ACC, a subsidiary of Swiss building material major Holcim group around 20 million square feet of real estate in the past five years.
(earlier LafargeHolcim), had participated in an e-auction of the It currently has around 186 million square feet of developable area
block, located in Kalburgi district of Karnataka. in 81 projects across India. Besides the four major focus cities,
the company has small presence in Chennai, Kolkata, Kochi,
KOHINOOR GROUP BUYS 32-ACRE LAND IN PUNE’S Ahmedabad and Chandigarh.
WAGHOLI FOR OVER `200 CRORE
Kohinoor Group has acquired a 32-acre land parcel in Wagholi PRESTIGE GROUP TO SET UP INVESTMENT FUNDS WORTH
locality of Pune from Goel Ganga Group for over `200 crore, said $500 MILLION
persons with direct knowledge of the development. The Prestige Group is planning to set up and manage two real
The land parcel has a total development potential of around 5 estate-focused alternative investment funds worth $500 million
million sq ft saleable area and the buyer is likely to develop a to buy land to fuel its residential business, a person aware of the
residential-cum-commercial project here. matter said.

24 CONSTRUCTION OPPORTUNITIES|MARCH 2022