ICICI Prudential AMC Acquires Mumbai Office Tower for Rs 3.15 Bn

04 Jul 2024 CW Team

ICICI Prudential Asset Management Company (AMC) has acquired an office tower in Mumbai from Kalpataru Group for Rs 3.15 billion. This transaction marks ICICI Prudential AMC's strategic investment in Mumbai's commercial real estate market, aiming to capitalise on the city's robust business environment.

The office tower, located in a prime business district of Mumbai, is expected to complement ICICI Prudential AMC's investment portfolio. The acquisition underscores the company's confidence in Mumbai's commercial property market and its commitment to delivering value to investors.

The transaction highlights ICICI Prudential AMC's strategy to enhance its real estate investments, focusing on quality assets with growth potential. Mumbai, as India's financial capital, continues to attract investments in commercial real estate due to its vibrant economy and strong demand from corporate tenants.

The office tower acquisition is expected to contribute positively to ICICI Prudential AMC's asset under management (AUM) growth and investment returns. The company's expertise in real estate investment management positions it to capitalise on opportunities in Mumbai's dynamic commercial property sector.

As ICICI Prudential AMC expands its footprint in Mumbai's real estate market, the acquisition reaffirms its commitment to prudent investment strategies and portfolio diversification. The office tower's strategic location and potential for rental income are likely to bolster ICICI Prudential AMC's position as a key player in India's asset management industry.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..