Shapoorji Pallonji to raise $375 mn via luxurious realty properties

06 Dec 2021 CW Team

Shapoorji Pallonji Group is in discussions to raise $375 million via the sale of luxurious premium realty properties in Dubai as the group deleverages.

The conglomerate is observed enhancing its cash flows after it sold Eureka Forbes and is in the process of marketing Sterling and Wilson, an EPC company that develops solar electric power plants.

The conglomerate is discussing with international investors asking for a reasonable valuation of the residential-cum-commercial property. Some global investors have likely shown interest as discussions are going on. Imperial Avenue is one such luxurious premium property. Shapoorji Pallonji Group plans to raise between $225 million and $375 million via its sale.

The funds raised will be a part of working capital and growth demands. The realty market is on acceleration globally, and the SP group will try to get advantages from this increase. The SP group has had a presence in the Dubai realty market for the past four to five years.

The Shapoorji group of firms had been handling a stretched balance sheet in 2020 after the outbreak of Covid-19, but recent asset monetisation efforts and overall economic recovery have assisted them to get back on track by majorly decreasing the debt burden.

Sterling and Wilson are said to be in sale discussions with bulge-bracket private equity funds, involving Canadian funds like Brookfield and CPPIB, and Indian conglomerates like Adani and Reliance Industries, expecting to reap the advantages of heightened interest in renewable energy in the nation.

Shapoorji Pallonji and Company Private Ltd. (SPCPL) had applied for a one-time restructuring (OTR) program under Reserve Bank of India’s resolution framework for Covid-19 related stress in 2020. Consequently, the OTR plan was successfully executed on March 31, 2021. The moratorium term ended on September 30.

In the first half of this FY, the promoters invested Rs 4,040 crore in the group firms, which was then utilised to repay the inter-corporate deposits (ICDs) extended by SPCPL to these entities, as per the ICRA Ratings. Consequently, SPCPL has repaid Rs 4,040 crore of OTR debt.

Image Source

Shapoorji Pallonji Group is in discussions to raise $375 million via the sale of luxurious premium realty properties in Dubai as the group deleverages. The conglomerate is observed enhancing its cash flows after it sold Eureka Forbes and is in the process of marketing Sterling and Wilson, an EPC company that develops solar electric power plants. The conglomerate is discussing with international investors asking for a reasonable valuation of the residential-cum-commercial property. Some global investors have likely shown interest as discussions are going on. Imperial Avenue is one such luxurious premium property. Shapoorji Pallonji Group plans to raise between $225 million and $375 million via its sale. The funds raised will be a part of working capital and growth demands. The realty market is on acceleration globally, and the SP group will try to get advantages from this increase. The SP group has had a presence in the Dubai realty market for the past four to five years. The Shapoorji group of firms had been handling a stretched balance sheet in 2020 after the outbreak of Covid-19, but recent asset monetisation efforts and overall economic recovery have assisted them to get back on track by majorly decreasing the debt burden. Sterling and Wilson are said to be in sale discussions with bulge-bracket private equity funds, involving Canadian funds like Brookfield and CPPIB, and Indian conglomerates like Adani and Reliance Industries, expecting to reap the advantages of heightened interest in renewable energy in the nation. Shapoorji Pallonji and Company Private Ltd. (SPCPL) had applied for a one-time restructuring (OTR) program under Reserve Bank of India’s resolution framework for Covid-19 related stress in 2020. Consequently, the OTR plan was successfully executed on March 31, 2021. The moratorium term ended on September 30. In the first half of this FY, the promoters invested Rs 4,040 crore in the group firms, which was then utilised to repay the inter-corporate deposits (ICDs) extended by SPCPL to these entities, as per the ICRA Ratings. Consequently, SPCPL has repaid Rs 4,040 crore of OTR debt. Image Source

Technology

28 Oct 2025

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Infrastructure Transport

28 Oct 2025

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Real Estate

28 Oct 2025

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..