Ashwin Sheth Group Buys 50% Stake in One Marina

17 Jun 2025 CW Team

The stake was acquired from Vallabh Sheth and Jitendra Sheth, promoters of Sheth Creators, who previously co-owned the project along with YM Infra, the landowner. This acquisition was supported by a substantial USD 65 million (over Rs 5.4 billion) investment commitment from PAG Singapore, a prominent Asia-focused investment firm.

According to a company statement, part of the funds from PAG were used to settle a loan from Yes Bank by repaying J.C. Flower ARC, thereby facilitating a clean slate for the new development partnership.

Strategically located near Marine Drive and the historic Princess Street Flyover, One Marina is set to become one of South Mumbai’s most premium residential addresses. The high-rise development will comprise 3 BHK and 4 BHK sea-facing apartments, duplexes, triplexes, and penthouses, with the tower rising to 74 floors above ground. Construction has already reached the 9th podium level.

Of the total 1 million square feet planned, Ashwin Sheth Group holds four lakh square feet of saleable area, highlighting the group’s significant stake in the development.

“We aim to redefine South Mumbai's ultra-luxury segment with One Marina and similar upcoming projects. Our strategic partnership with PAG ensures this landmark project receives the capital and expertise it needs,” said Ashwin Sheth, Chairman and Managing Director of the group.

Sunil Hotchandani, Head of Fundraising at Ashwin Sheth Group, added that the initiative reflects their strategy to revitalise underutilised legacy assets. “Backed by PAG’s capital and our execution record, One Marina is poised for a successful turnaround,” he said.

The project underlines Ashwin Sheth Group’s growing footprint in South Mumbai’s luxury residential sector, with more high-end developments expected to follow.

Mumbai-based real estate developer Ashwin Sheth Group has acquired a 50 per cent stake in the Rs 23 billion (USD 275 million) luxury residential project One Marina, located in South Mumbai’s upscale Marine Lines. The acquisition was announced on 11 June and marks a major move in the city's premium housing market.The stake was acquired from Vallabh Sheth and Jitendra Sheth, promoters of Sheth Creators, who previously co-owned the project along with YM Infra, the landowner. This acquisition was supported by a substantial USD 65 million (over Rs 5.4 billion) investment commitment from PAG Singapore, a prominent Asia-focused investment firm.According to a company statement, part of the funds from PAG were used to settle a loan from Yes Bank by repaying J.C. Flower ARC, thereby facilitating a clean slate for the new development partnership.Strategically located near Marine Drive and the historic Princess Street Flyover, One Marina is set to become one of South Mumbai’s most premium residential addresses. The high-rise development will comprise 3 BHK and 4 BHK sea-facing apartments, duplexes, triplexes, and penthouses, with the tower rising to 74 floors above ground. Construction has already reached the 9th podium level.Of the total 1 million square feet planned, Ashwin Sheth Group holds four lakh square feet of saleable area, highlighting the group’s significant stake in the development.“We aim to redefine South Mumbai's ultra-luxury segment with One Marina and similar upcoming projects. Our strategic partnership with PAG ensures this landmark project receives the capital and expertise it needs,” said Ashwin Sheth, Chairman and Managing Director of the group.Sunil Hotchandani, Head of Fundraising at Ashwin Sheth Group, added that the initiative reflects their strategy to revitalise underutilised legacy assets. “Backed by PAG’s capital and our execution record, One Marina is poised for a successful turnaround,” he said.The project underlines Ashwin Sheth Group’s growing footprint in South Mumbai’s luxury residential sector, with more high-end developments expected to follow.

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Infrastructure Energy

04 May 2026

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

Infrastructure Urban

04 May 2026

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..