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

04 Dec 2025

ISRO’s IMAT Success Boosts Readiness for Maiden Gaganyaan Mission

Union Minister of State for Science and Technology Dr Jitendra Singh informed Parliament that ISRO has achieved a key milestone in its preparations for India’s first human space mission with the successful completion of the Integrated Main Parachute Airdrop Test (IMAT). He said in the Lok Sabha that the test forms a central part of the qualification campaign for the Crew Module’s parachute-based deceleration system, one of the most vital elements in human-rating the mission.According to Dr. Jitendra Singh, the IMAT recreated one of the most demanding descent conditions by intentionally del..

Gyanesh Kumar Takes Charge as Chair of International IDEA Council

Chief Election Commissioner of India Gyanesh Kumar has assumed the Chairship of the Council of Member States of the International Institute for Democracy and Electoral Assistance for 2026. The ceremony in Stockholm was also attended by India’s Ambassador to Sweden, Anurag Bhushan. India, a founding member of International IDEA, has long contributed to the organisation’s governance and global democratic dialogue, and the new Chairship signals broad recognition of the Election Commission of India as a trusted and innovative election management institution.During his visit, Kumar held discuss..

Coal Mines Boost Local Growth and Support India’s Energy Self-reliance

The Magadh and Amrapali coal mines in Jharkhand are playing a pivotal role in strengthening India’s energy security, contributing nearly half of Central Coalfields Limited’s total coal production in 2024–25. Both mines support the broader goal of ensuring steady coal availability for the power sector under the vision of Aatmanirbhar Bharat. Magadh has estimated mineable reserves of 854.91 million tonnes, while Amrapali holds 456.34 million tonne. For FY 2025–26, the two are expected to generate net sales revenues of Rs 28.12 billion and Rs 23.67 billion respectively. Local development ..