UGRO Acquires Profectus to Boost MSME Lending and Profits
UGRO Capital Limited, a leading DataTech non-banking financial company (NBFC) focused on MSME financing, has signed an agreement to acquire 100 per cent equity in Profectus Capital Private Limited, a secured lending-focused NBFC, in an all-cash deal funded from UGRO’s recent equity raise. This strategic acquisition makes Profectus a wholly owned subsidiary and is expected to contribute approximately Rs 1.5 billion (USD 18 million) in annualised profit to UGRO, with Rs 1.15 billion in cost savings, thereby enhancing capital adequacy and return on assets by 60–70 basis points post-merger.The..
DLF Sells Rs 1.1 Trn Luxury Project in One Week
DLF, India’s largest listed real estate developer, has achieved a landmark sell-out of its latest luxury residential project, DLF Privana North, valued at approximately Rs 1.1 trillion (USD 13.2 billion). This unprecedented response came within just one week of launch, reinforcing DLF’s market dominance and signalling robust demand for high-end homes in Gurugram.Part of the 116-acre DLF Privana township in Sectors 76 and 77, Gurugram, Privana North spans 17.7 acres and comprises six premium towers of stilt +50 storeys – the tallest residential buildings ever developed by DLF. The project..
Hindustan Zinc to Invest Rs 120 Bn in Capacity Expansion
Hindustan Zinc Limited, India’s only and the world’s largest integrated zinc producer, has announced Board approval for the first phase of a major expansion to double its refined metal production capacity. The plan involves an investment of nearly Rs 120 billion (Rs 12,000 crore) and includes setting up a new 250 KTPA (kilotonnes per annum) integrated smelter at Debari, in Rajasthan’s Udaipur district, along with corresponding expansions in mines and mills across its operations.The project will increase the company’s current metal production capacity from 1.1 million tonnes to over 2 m..
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