VRL Logistics, Ratna Cements signs MoU to transfer Wind Power

22 Apr 2022 CW Team

VRL Logistics added 5.55% to Rs 545 after the company signed a Memorandum of Understanding (MoU) with Ratna Cements to transfer the wind power sale on a slump sale basis.

Under the MoU, VRL will transfer the Sale of Power undertaking, with all underlying assets and liabilities as a going concern on a slump sale basis for Rs 48 crore.

Ratna Cements placed a token advance of Rs 2 crore before signing the MoU and has a time of up to 31 July 2022 to complete the transaction with all required approvals, with the remittance of the balance sales consideration.

The Wind Power Undertaking of the company initially had 34 wind turbine generators with a capacity of 42.5 MW. The project comprises 32 wind turbine generators with a 40 MW capacity. These turbines have been installed at Kappatgudda, Karnataka.

The windmill division recorded a revenue of Rs 17.57 crore with 0.99% standalone revenue of the company, with earnings before interest and taxes (EBIT) of Rs 80.83 lakhs.

VRL Logistics is India's largest and leading transportation and logistics company. Its net profit rose 52.2% to Rs 60.49 crore, with a 20.4 % increase in net sales to Rs 678.39 crore in the third quarter (Q3) of FY22 over Q3 FY21.

Image Source

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Govt Plans Six-Month Import Relief for E-Bus, Truck Makers

The government is considering a six-month relaxation for electric bus and truck manufacturers, allowing them to import fully assembled motors containing heavy rare earth materials without losing eligibility for incentives under the Rs 109-billion PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme.The relief is expected to benefit companies such as Tata Motors, Ashok Leyland, PMI Electro Mobility, JBM Auto, EKA Mobility, Olectra Greentech, Propel, and IPLT Demo. The exemption will apply provided all other localisation requirements are met.However, officials clari..