Coimbatore: Phoenix Mills acquires 9.03 acres land

08 Aug 2024 CW Team

Astrea Real Estate Developers (Astrea), a subsidiary of The Phoenix Mills (PML), has acquired 9.03 acres land in Coimbatore through a mix of share purchases and direct land acquisitions for Rs 3.7 billion. PML holds 67.1% equity stake in Astrea.

Shishir Shrivastava, managing director of the company said, "We are pleased to announce our acquisition in Coimbatore for a greenfield retail development project. This mall will be our second retail development in Tamil Nadu, following the success of our first development in Chennai, namely Phoenix MarketCity and Palladium Chennai."

In the regulatory filing, the company informed that Astrea has completed the acquisition of 100% equity share capital of Dhanalakshmi Engineering (DEPL), Pulankinar Investment and Finance (PIFPL), Coimbatore Sameera Investments (CSIPL), Shanthi Chandran Enterprises (SCEPL), Shanthi Chandran Investments Coimbatore (SCICPL) and Sheela Traders (STPL). Accordingly, these entities have become wholly-owned subsidiaries of Astrea and stepdown subsidiaries of the company with effect from August 07, 2024.

The entities are land owning companies and collectively hold 7.08 acres of land in Coimbatore. Astrea has acquired the said land of 7.08 acres and has also directly acquired 1.95 acres of land from certain individuals. Thus, Astrea has in aggregate acquired 9.03 acre land parcel. In a separate regulatory filing, PML informed that it, Reco Zinnia (Reco) and Astrea have entered into and executed securities subscription agreement and joint venture agreement. Subsequent to the completion of the investment, PML and Reco hold 67.10% and 32.90% respectively in the paid up equity share capital of Astrea.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..