hBits launches Rs 288 million asset in Bengaluru

13 Sep 2024 CW Team

hBits has launched its second commercial grade A asset in Vaswani Centropolis, Bengaluru worth Rs 288 million. The asset spans across a leasable area of 12,776 sq ft and has been leased for a period of six years. The rental inflow and purchase price of the asset offers an entry yield of 8.75% and an expected internal rate of return of 15.12%. It aims to offer a five-year average rental yield of 8.55%. The company marked its first closure in Bengaluru by acquiring a grade A commercial asset in the same building, Vaswani Centropolis worth Rs 54.32 crore. With this new asset, the company has 15 properties in its portfolio, with an asset under management (AUM) of approximately Rs 4 billion. The new property marks hBits’ fourth asset launch this year, with previous properties in Bengaluru and Pune. Recently, the company applied for a small and medium REITs (SM REITs) license with the securities and exchange board of India (SEBI).

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..