Blackstone discussing stake sale in commercial assets with GIC

10 Aug 2023 CW Team

Blackstone has entered into discussions with Singapore's sovereign wealth fund GIC with the intention of selling a 50 percent stake in several of its commercial assets. These assets are currently held in partnership with the Panchshil Group in Pune and the Salarpuria Sattva Group in Hyderabad.

The combined leasable area of these projects is 26 million sq ft (msf), and they hold a confirmed value of $ 4 billion. The potential worth of the deal is estimated to be around $ 1.5-2 billion. However, it's important to note that the deal is still in the negotiation phase, and its realisation will depend on the assessment of valuations and final pricing. Approximately five msf of the total space is currently under construction.

At present, the company's intention is to divest its ownership stake in select projects while maintaining its involvement in the joint ventures (JVs). The company does not have any immediate plans to withdraw from these partnerships.

Back in 2014, Blackstone initiated a joint venture (JV) with the Panchshil Group. As part of this arrangement, Panchshil's projects included Eon Free Zone, Tech Park One, ICC Tech Park, as well as JW Marriott's 415-key hotel and Pavilion Mall.

Similarly, in 2017, the company entered into a joint venture with the Salarpuria Group. Within this collaboration, Blackstone's projects in Hyderabad with the Group encompass Knowledge City, Knowledge Capital, and Knowledge Park.

Also read:
Eastern Freight corridor set to commence by year-end
Pune Metro phase 2 proposal gets PMC approval

Equipment

13 May 2026

Ammann India Inaugurates Centralised Air Compressor System

Ammann India has inaugurated a new centralised air compressor system at its Machine Division as part of its green energy conservation and sustainable manufacturing initiatives.The newly installed system is designed to improve operational efficiency while optimising energy consumption, supporting the company’s long-term sustainability and carbon reduction goals. The upgrade is expected to deliver energy savings, reduce CO2 emissions, improve power efficiency and enhance production reliability.The system includes efficient air distribution, air drying and optimised load management to support r..

Blue Dart posts revenue growth in FY26 on e-commerce and B2B demand

Blue Dart Express Limited, South Asia’s express air and integrated transportation and distribution company, has reported year-on-year growth in revenue for the financial year ended March 31, 2026, driven by strong momentum in e-commerce shipments and B2B surface express solutions.Announcing its financial results after the Board Meeting held in Mumbai, the company said revenue from operations rose to Rs 6,141 crore in FY2025–26, compared to Rs 5,720 crore in FY2024–25. Profit after tax for the year stood at Rs 240 crore.For the quarter ended March 31, 2026, Blue Dart reported revenue from..

Terex launches TRAC vibration analysis system

Terex®, a global provider of specialised equipment solutions, has launched TRAC, a new vibration analysis system designed to deliver deeper insight into the performance, condition and long-term structural integrity of screening equipment.Announced in Hosur on May 11, 2026, the TRAC system is now available across screening equipment offered under Terex Materials Processing (MP) brands, including Powerscreen®, Finlay®, EvoQuip®, MDS®, Terex® Washing Systems, Terex® MPS (Cedarapids®, Simplicity®), MAGNA™ and Terex® Ecotec.Developed specifically for vibratory screening equipment by Ter..