Piramal could make highest bid for DHFL

15 Dec 2020 CW Team

The Piramal Group is being touted to have offered the highest buying bid of Rs 355 billion for the bankrupt finance company, Dewan Housing Finance Ltd (DHFL. Earlier, only the firm’s retail assets had been bid for by them. Two sources close to the development told a prominent business daily that the group’s bid is higher than the previous two offers that were submitted by the Adani Group and by stressed asset fund, Oaktree.

While Adani’s offer rests at Rs 330 billion, Oaktree has hiked its bid by about 10 % to round up its offer at Rs 340 billion. This stands to announce Piramal as the successful bidder provided the lenders happen to abide by the principle of recovery maximisation, the source commented.

At the back of persistent backpedalling stemming from creditors who kept changing and modifying the inherent architecture of the sale process with the view of maximising the recovery for them, S C Lowy opted out of the race to place a buying bid for DHFL. If Piramal emerges successful in buying the bankrupt firm, it could stand to become the most dominant player in Mumbai, India’s most expensive real estate market.

While Adani was more inclined towards slum rehabilitation project loans and wholesale loans, Piramal put up bids separately for the troubled mortgage financier’s retail assets, a senior executive whose firm lent to the home financier told sources.

The four existing bidders have already been issued formal letters by Dewan Housing Finance (DHFL)’s administrator, who is looking forward to revised purchase offers for the fourth time now. Restoring business normalcy at DHFL is now the foremost priority of the central-bank appointed administrator.

Image Source

Infrastructure Urban

09 Feb 2026

Eicher Delivers First 13.5 m Electric Intercity Sleeper Bus

Eicher Trucks & Buses, a business unit of VE Commercial Vehicles Ltd., has recently delivered its first 13.5 m electric intercity sleeper bus, marking a key milestone in India’s long-distance electric mobility segment. The first bus is being operated by LeafyBus, with plans to deploy 35 buses by March 2026 across high-demand intercity corridors in North India.The initial deployment will cover routes such as Delhi–Dehradun and Delhi–Lucknow, supporting LeafyBus’ expansion across environmentally sensitive and high-density travel corridors.Commenting on the partnership, Suresh Chettia..

HCSS Showcases Unified Construction Platform at CONEXPO 2026

HCSS will recently present the next evolution of its connected construction management platform at CONEXPO-CON/AGG 2026, bringing together construction workflows, data and teams on a single platform across the entire project lifecycle. The event will be held from 3–7 March 2026 in Las Vegas, Nevada. HCSS will host two booths at the show, demonstrating how its integrated software ecosystem enables seamless collaboration between the office, field and shop, from bid stage through to project closeout. Steve McGough, President and CEO, HCSS, said, “For 40 years, we’ve done everything within..

Berger Paints Q3 Profit Declines Despite Volume Growth

Berger Paints India has reported a mixed performance for the quarter ended 31 December 2025, with healthy volume growth and margin improvement offset by softer demand conditions and cost pressures. On a consolidated basis, revenue from operations for the quarter stood at Rs 29,840 million, compared to Rs 29,751 million in the corresponding quarter last year, reflecting a marginal increase of 0.3 per cent. EBITDA (excluding other income) was Rs 4,710 million, slightly lower than Rs 4,717 million a year earlier. Net profit declined by 8.3 per cent to Rs 2,713 million from Rs 2,960 million. Sta..