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 Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..