Nippon Life India acquires office space for Rs 4.86 Bn in Mumbai

22 Nov 2024 CW Team

Nippon Life India Asset Management has executed a definitive agreement with realty developer Lodha, listed as Macrotech Developers, to acquire an office space spread across two floors in a commercial tower One Lodha Place in Mumbai’s business district Lower Parel for Rs 4.86 billion. The asset management company is planning to shift its headquarters in this office spread over 52,162 sq ft from Peninsula Business Park in the vicinity.“The deal was registered. The buyer has paid a certain amount of the consideration and the stamp duty, and is expected to pay Rs 4 billion by December 6,” said a person with direct knowledge of the development. In a regulatory filing, Nippon Life India Asset Management said there are no shareholding ties with the selling entity, and the transaction is not categorised as a related party transaction. The filing, however, did not mention the plan to shift the headquarters to this new office. Transaction advisor JLL India declined to comment for the story. As part of the deal, the buyer will get exclusive signages rights for the space on the 29th and 30th floors of the commercial tower that has a total 36 floors. Nippon Life India Asset Management specializes in managing a variety of investment products, including mutual funds like exchange-traded funds (ETFs); managed accounts such as portfolio management services, alternative investment funds, and pension funds; as well as offshore funds and advisory mandates. It is the first asset management company listed on Indian bourses in 2017.

Infrastructure Energy

18 Dec 2025

India’s thermal power capacity demand seen at 307 GW by 2035: Goyal

India’s thermal power requirement is projected to rise sharply to 307 gigawatts (GW) by 2035, reflecting the country’s sustained efforts to meet growing energy demand, Union Minister for Commerce Piyush Goyal said.Responding to a question from The Hindu, Piyush Goyal, Union Minister for Commerce, said the government is making continuous progress to strengthen India’s power generation capacity and ensure reliable energy availability for the country’s expanding economy. Speaking to reporters on December 15, 2025, he highlighted the pace at which new capacity is being added and contracts ..

VOC Port crosses 30 MMT cargo milestone ahead of schedule

V.O. Chidambaranar Port Authority (VOC Port), Tuticorin, has achieved a major operational milestone by crossing 30 million metric tonnes (MMT) of cargo handling in the current financial year, reaching the mark on December 14. This is the fastest the port has achieved the milestone, accomplishing it a full week earlier than in the previous year.Port officials said the growth momentum remained steady throughout the year, with cargo throughput touching 10 MMT by June 26 and 20 MMT by September 21. The early achievement reflects improved operational performance and growing demand across diverse ca..

Vizhinjam Port to launch Phase 2 expansion from mid-January

The second phase of expansion at Vizhinjam International Port is set to begin in the second week of January, marking a major milestone in the port’s rapid scale-up as a global transshipment hub. Kerala Ports Minister V N Vasavan announced the development following a review meeting, adding that the exact start date will be finalised after consultations with Chief Minister Pinarayi Vijayan and the Adani Group.Preparatory work for the upcoming construction phases has already been completed. The expansion is part of a Rs 10,000-crore investment by Adani Ports and Special Economic Zone Ltd. (APSE..