Allianz-Shapoorji looks to exit Hyderabad's IT SEZ Waverock

10 May 2023 CW Team

A partnership between the Allianz Group and the Shapoorji Pallonji Group is reportedly aiming to sell the approximately 2.5 million square foot IT SEZ property Waverock in Hyderabad for over £2,000 crore, according to numerous sources with knowledge of the transaction. This would be the largest commercial real estate departure this year.

Tenants of the site include businesses including Apple, Accenture, and TCS. Several institutional investors are interested in the property.

One of the individuals cited above stated that while other funds had submitted bids for the project, GIC had emerged as the front-runner. 2019 saw the property being purchased by Allianz-Shapoorji's JV from its former joint owners, Singapore's sovereign wealth fund GIC and New York-based developer Tishman Speyer. In 2015, GIC purchased a 50% share in Tishman Speyer's Waverock for a total cost of $1 billion.

"The desire to purchase the asset demonstrates the faith that international institutional investors have in the success of the commercial real estate market in India.

According to Sankey Prasad, chairman of Colliers, "income-producing commercial assets have proven to be a big pull for the majority of the global institutional investors that are active in India or are ready to invest here.

Infrastructure Urban

07 Oct 2025

MOIL Achieves Record September Production and Strong Q2 Performance

MOIL posted its best-ever September production of 1.52 lakh tonnes, up 3.8 per cent from the same period last year, reflecting robust operational performance. Exploratory core drilling also surged to 5,314 metre, a 46 per cent increase, highlighting the company’s focus on expanding its resource base.For Q2 FY26 (July–September 2025), MOIL achieved record quarterly production of 4.42 lakh tonnes, up 10.3 per cent year-on-year, and sales of 3.53 lakh tonne, growing 18.6 per cent over the same quarter last year. Exploratory drilling for the quarter reached 21,035 metre, marking a 4.1 per cent..

Tata Steel Faces Rs 24.11-Bn Demand from Odisha Authorities

Shares of Tata Steel came under pressure as the company faces a fresh financial demand of Rs 24.11 billion from Odisha authorities. The claim arises from alleged shortfalls in dispatch obligations at the company’s Sukinda mine under the Mine Development and Production Agreement (MDPA). Authorities have included both the asserted sale value of the shortfall and the appropriation of performance security under Rule 12A of the Minerals Concession Rules, 2016.Tata Steel has disputed the demand, stating that it has substantial grounds to challenge it legally. In a statement, the company said, “T..

ECMS to Boost India’s Local Electronics Value Addition to 40%

India’s first Electronics Component Manufacturing Scheme (ECMS) is poised to double local value addition in the production of finished electronic goods to 35–40 per cent over the next five years, according to industry body Elcina.The scheme has attracted record investment proposals worth Rs 1.15 trillion, more than double the initial target of Rs 590 billion. A total of 249 companies have submitted applications, which will undergo screening before approval.Elcina Secretary General Rajoo Goel said, “This is a game changer for India’s electronics ecosystem, boosting value addition from t..