Portfolio Proliferation
ECONOMY & POLICY

Portfolio Proliferation

Gautam Adani, Founder and Chairman, Adani Group, heads the company, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects. The group in October had acquired a 46.64 per cent stake in engineering and co...

Gautam Adani, Founder and Chairman, Adani Group, heads the company, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects. The group in October had acquired a 46.64 per cent stake in engineering and construction firm ITD Cementation India for Rs.32.04 billion (bn). The company has also acquired a 30.07 percent stake in construction firm PSP Projects for Rs.6.85 bn, adding PSP Projects’ robust $800 million (mn) order book to its growing portfolio. These transactions are a win-win deal for both parties. Officials from PSP Projects said with Adani’s acquisition, they expect their order book to grow as Adani portfolio companies are undertaking several projects in defence, airports and infrastructure. The company is also in the news for the indictment served by US Courts and the group cancelling its $600 mn bond sale.

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Real Estate

Varun Malik Joins ANAROCK as MD, Head of Capital Markets, APAC

ANAROCK Capital has appointed Varun Malik as Managing Director, Head of Capital Markets (APAC), marking a strategic move to expand its presence across Asia-Pacific. Based in Singapore, Malik will drive ANAROCK’s capital markets initiatives in the region.A real estate finance veteran, Malik brings over 18 years of experience in structuring complex cross-border transactions across South-East Asia and Australia. He has led debt and equity deals for REITs, fund managers, and developers, delivering strong returns and driving investor value.“We will redefine real estate capital solutions across ..

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Real Estate

Patra Chawl lottery held, 663 families allotted homes

Mumbai's Siddharth Nagar (Patra Chawl) Co-operative Housing Society members in Goregaon (West) saw their 15-year wait come to a close as MHADA conducted a successful computerised lottery for 663 eligible members under its redevelopment scheme.The Mumbai Housing and Area Development Board conducted the draw using the RAT (Randomised Allotment of Tenement) system at Sardar Vallabhbhai Patel Hall. The lottery, overseen by Mr. Milind Borikar, Chief Officer of Mumbai Board, ensured transparency by digitally allotting each member a building, wing, and floor.The project, located on Plot R-9, received..

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Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

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