Atmosphere Realty Redeems Rs 2.17 Billion NCDs Ahead of Schedule

26 Mar 2025 CW Team

Atmosphere Realty (ARPL), a joint venture of The Wadhwa Group (50 per cent), Man Infra Construction Ltd (30 per cent), and Chandak Realtors (20 per cent), has fully redeemed Rs 2.17 billion secured Non-Convertible Debentures (NCDs) ahead of their scheduled 2030 maturity.

Issued on 9 December 2020, these 2,179 debentures (Rs 10 lakh each) were acquired by Marubeni Corporation, a Japanese conglomerate with a presence in over 65 countries.

The early redemption on 24 March 2025 was enabled by robust sales and internal accruals from Atmosphere O2, a premium gated community in Nahur, Mulund West, Mumbai.

This successful exit reinforces Marubeni’s confidence in partnering with reliable developers delivering high-quality, timely projects. Both Marubeni and ARPL plan to explore future collaborations following this transaction.

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..