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

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..