Allianz-Shapoorji intends to sell its stake in Hyderabad's IT SEZ

09 May 2023 CW Team

A JV between the Allianz Group and the Shapoorji Pallonji Group company is trying to exit roughly 2.5 million sq ft IT SEZ property Waverock in Hyderabad for around Rs 2,000 crore.

Apple, Accenture, and TCS are among the tenants at the building. Several institutional investors have expressed interest in the property.

The property was acquired by Allianz-Shapoorji's JV in 2019 from previous joint owners Singapore's sovereign wealth fund GIC and New York-based developer Tishman Speyer.

“The interest shown to acquire the asset indicates the confidence global institutional investors have in the Indian commercial real estate growth story. Income- producing commercial assets have proved to be a major draw for most of the global institutional investors that are active in India or are keen to invest here,” said Sankey Prasad, chairman, Colliers.

Tishman Speyer's IT SEZ, built in two phases, can house 20,000 professionals and is located near Hyderabad's financial district at Gachibowli.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..