L&T Infrastructure Dev to raise Rs 2,500 crore from gazebo investors
The infrastructure subsidiary of Larsen & Toubro, L&T Infrastructure Development Projects which handles assets worth Rs 45,000 crore, will raise up to Rs 2,500 crore by selling stakes to potential investors, reported Economic Times.
GMR Infra eager to set balance sheet right, to sell more assets to lower debt
Without wasting times after selling its 70 per cent stake in a Singapore-based power project and raising as much as Rs 1,600 crore, GMR has lined up a series of strategic measures to raise as much as Rs 10,000 crore by the end of the next financial year through asset sales to reduce the debt burden. The company burdened under a debt of Rs 37,000 crore, is desperate to clean up its highly...
GMR to sell stake in Singapore power unit to lighten debt
GMR Infrastructure has decided to sell its 70 per cent stake in a Singapore-based Island Power, for US$488 million (Rs 2,600 crore) to a global consortium — FPM Power Holdings — which is jointly owned by First Pacific Company Limited and Meralco PowerGen Corporation of the Philippines. By selling the under-development power project GMR is making close to two times its investment from thi...
Binani scouting for investors to sell stake in Binani Cement
Seeking to raise capital and cut its debt, Binani Industries is reportedly in talks with potential financial investors such as JP Morgan and state-owned funds in the Middle East to sell up to a 40% stake in its subsidiary Binani Cement.
Realty major DLF to halve debt in 3 years through fresh equity, selling non-core assets
Realty companies under severe debt burden are looking for ways and means to light it as fast as possible. And most of these debt were raised during the high interest rate regime, which has started biting them, even the biggies are not spared. Realty major DLF has set a target to cutting its net debt atleast to a half over the next three years to Rs 10,000-11,000 crore. This is likely to ...
Shriram Properties targets to raise Rs 700 crore from property deal
Bangalore-based realty arm of the Shriram Group, Shriram Properties is amending its Rs 543 crore deal with Ascendas of Singapore, to make it more lucrative and possibility of raising more money. It has been talking since July 2012 with Ascendas to sell its 1.3 million sq ft information technology (IT) special economic zone (SEZ) in Chennai for US$100 million and now overhauling the trans...
ICICI Bank UK releases portion of DB Realty promoters’ stake pledged with it
In a filing with the BSE, the Mumbai-based firm DB Realty has said that the promoters and their group had earlier pledged shares representing 39.98% of the existing paid up capital of the company with ICICI Bank UK in connection with financial facility availed by a group firm.
IVRCL’s posts net loss of Rs 68 crore on slower topline growth
IVRCL, an infrastructure major posted a net loss of Rs 68.13 crore for the third quarter ending 31 December, 2012. In the same quarter last year, it had earned a net profit of Rs 6.78 crore.
Unitech posts 52% rise in net profit on 25% growth in sales
India's third-largest listed real estate developer by market capitalisation, Unitech has reported a 52% increase in its net profit for the quarter ended 31 December 2012, helped by higher sales and low finance costs.
GMR Infrastructure’s loss doubles in Q3
The Bangalore-based infrastructure major, GMR Infrastructure's losses have doubled to Rs 217.45 crore in third quarter ending 31 December 2012 as against Rs 107 crore loss in same quarter last year, mainly due to increases in finance cost. Businesses in power, highways and airports reported a growth in revenue and earnings before interest, tax and depreciation but losses widened ...
ACC earns net Profit of Rs.239 crore in Q4 2012
India's oldest and foremost manufacturer of cement and ready mix concrete, reported a net profits of Rs 239.22 crore and incomes of Rs 3,179.56 crore, both on stand-alone and consolidated basis, for the fourth-quarter ended 31 December 2012.
Ambuja posts one of the worst performances in Q4 2012
India's fourth largest cement maker and Holcim-owned cement major, Ambuja Cements posted a significant drop of 30% in net profits for the quarter ending 31 December 2012, marking one of the worst performances in recent past.
CPWD, Engineering Projects India shortlisted for Oman border fencing work
Only two Indian agencies - CPWD and Engineering Projects India Ltd (EPIL) – have been shortlisted in a secret bidding by the Oman government to construct the border fence between Oman and Yemen.
B L Kashyap bags construction contracts worth Rs 900 crore
B L Kashyap, a construction firm, announced that said it has received orders worth Rs 900 crore for building new residential as well as commercial projects.
IRB Infra Q3 profit rises 8.6%, beats expectations
IRB Infrastructure & Developers, posted a growth of 8.62% in consolidated net profit to Rs 14.3 crore for the quarter ended 31 December 2012.