Brookfield takes over residential project in Mumbai

21 Jul 2020 CW Staff

Global alternative investment manager Brookfield Asset Management has taken over realty developer Peninsula Land’s equity stake in its premium project ‘Salsette 27’ in Mumbai’s Byculla locality.

“This transaction has resulted in reduction in the company's debt obligations to Brookfield by Rs 539.14 crore…The remaining NCDs of Rs 20 crore will be repaid to Brookfield from the proceeds of another completed project of the company, over the next 18 months,” Peninsula Land said in a regulatory filing.

In 2016, the Canadian institutional investor had invested Rs 450 crore in the project through non-convertible debentures in 2016 marking its first investments into Indian residential real estate.

The developer’s total debt obligation towards the same stood at Rs 559.14 crore including the principal of Rs 450 crore and accrued interest of Rs 109.14 crore.

The company is looking to reduce its debt, which currently stands around Rs 1,400 crore, further through sale and monetisation of its investments.

With this transaction, the Ashok Piramal Group company has met its obligations to Brookfield and has also separately entered into a service agreement to continue developing and selling the said project for the special purpose vehicle Goodtime Real Estate.

Infrastructure Transport

01 Sep 2025

Rs 2.82 Billion Approved for NH-48 Flyovers, Footbridges

Gurugram’s section of National Highway 48 is set for a significant infrastructure upgrade, with the Central Government approving Rs 2.82 billion for the construction of four flyovers and nine foot overbridges along the Gurgaon–Kotputli–Jaipur corridor. This initiative aims to ease congestion, improve commuter safety, and boost regional connectivity, according to officials.The planned flyovers will be built at Panchgaon Chowk, Rathiwas, near the Hero Company, and Sahlawas. The nine foot overbridges will be constructed at Shikhopur, Manesar, Binola, Rathiwas, Malpura, Jaisinghpurkhera, Sid..

VSL Wins Rs 810-Cr O&M Deal for 810 MWp NGEL Solar Assets

VSL Renewable Services has secured a Rs 810 crore operation and maintenance (O&M) contract for 810 MWp of NTPC Green Energy’s (NGEL) solar power projects spread across Andhra Pradesh, Madhya Pradesh, and Rajasthan. The contract duration is 36 months.The tender, issued in January 2025, was divided into two lots: Lot 1 for 1,054 MWp and Lot 2 for 810 MWp. VSL emerged as the lowest bidder in both categories, but was awarded only Lot 2 in accordance with NTPC’s tender guidelines.Advanced Monitoring and Tailored StrategiesThe O&M scope will employ artificial intelligence and Internet of..

AP Issues Bid for Rs 34.9 Billion Battery Storage Project

The Transmission Corporation of Andhra Pradesh (APTRANSCO) has invited bids for the development of 1,000 MW/2,000 MWh battery energy storage systems (BESS) across seven substations in the state. The project, with an estimated viability gap funding of up to Rs 34.9 billion, will be executed under a build, own, and operate (BOO) model through tariff-based competitive bidding.Bid Timeline and StructureBids must be submitted by 29 September 2025 and will be opened on 6 October. The VGF support per project is capped at Rs 1.8 million per MWh and will be released in three instalments—20 per cent u..