JM Financial Buys 1.4 Lakh Sq Ft Commercial Space in Mulund

11 Jun 2025 CW Team

JM Financial Products has acquired 1.4 lakh sq ft of commercial space in Prestige Trade Centre, located in Mulund, Mumbai, according to property registration documents accessed via Propstack. The transaction, valued at approximately Rs 1.49 billion, was part of a court-directed settlement tied to the restructuring deal when Prestige Estates Projects took over the project from Aristo Realty.

The acquired property has a carpet area of 88,873 sq ft and a chargeable area of 1.42 lakh sq ft. The sale agreement was registered on April 4, 2025, with a stamp duty payment of Rs 80.94 million and a registration fee of Rs 30,000.

The commercial premises are spread across the 40th, 41st, 42nd, and 44th floors of the building.

This transaction is rooted in Prestige Estates' 2021 acquisition of the project during Aristo Realty’s Corporate Insolvency Resolution Process (CIRP), as approved by the NCLT Mumbai Bench. As part of the resolution plan, Prestige paid Rs 370 crore to various lenders and committed to allocate 8 lakh sq ft of commercial space to creditors. The total project area spans 7.5 million sq ft of residential and commercial development in Mulund.

Separately, on May 30, Prestige Estates announced a partnership with Mumbai-based Valor Group (formerly DB Realty) to jointly develop an office complex in Andheri East, Mumbai, valued at Rs 45 billion. Under the agreement, both companies will hold equal economic stakes in the project. The joint development agreement, signed on May 28, covers land measuring 21,978.22 sq m. A total of Rs 5.04 billion is to be infused into a Special Purpose Vehicle (SPV) formed for project execution.

News source: Hindustan Times

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..