Edelweiss Financial makes Rs 1.7 Bn exit from Andheri project

28 Nov 2024 CW Team

Edelweiss Financial Services has successfully exited with Rs 1.75 billion from Paradigm Realty’s mixed-use township project, 102 Downtown, located in Mumbai's Andheri West suburb. The repayment, completed two quarters ahead of schedule, was facilitated by strong sales collections and refinancing at an interest rate below 13% per annum. This milestone marks the transition to the project's second development phase, according to Paradigm Realty.

The debt, raised two years ago, supported the residential phase of 102 Downtown, a 10-acre joint venture with Prozone Realty. The project features a 4.5 million sq. ft. development potential, including 1.3 million sq. ft. of residential spaces and plans for a shopping centre poised to become one of the largest malls in Mumbai’s western suburbs.

Parthh K Mehta, Chairman and Managing Director of Paradigm Realty, attributed the early repayment to financial discipline and operational efficiency. He acknowledged Edelweiss Financial Services' funding as instrumental in expediting the delivery of the first phase, which includes 600 apartments.

This successful debt repayment underscores the project’s robust financial management and strong market performance, setting the stage for further development of the township.

Infrastructure Transport

05 Feb 2026

MMRDA Installs 325-Tonne Steel Spans on Mumbai Metro Line 4

The Mumbai Metropolitan Region Development Authority (MMRDA) has achieved a key construction milestone on Metro Line 4 with the successful installation of three large steel spans at Bhandup West during overnight operations.The spans, together weighing 325 metric tonnes, were launched using eight heavy-duty cranes and 12 multi-axle vehicles. The operation required precise engineering and meticulous planning to minimise disruption in the densely populated suburban area.Due to effective inter-agency coordination, the work—originally scheduled across four nights—was completed within just two n..

CMRL Targets March 2027 Opening for Vadapalani–Panagal Park

Chennai Metro Rail Limited (CMRL) is progressing as scheduled to open the Vadapalani–Panagal Park section of Phase II’s Corridor 4 by March 2027. The 3.5 km underground stretch is part of the 26.1 km Corridor 4 connecting Lighthouse with Poonamallee Bypass.Construction activities are advancing steadily, with tunnelling works between Vadapalani and Panagal Park already completed. Track-laying operations are expected to commence shortly. At Panagal Park station, structural works have reached the concourse and platform levels, while excavation continues at the lowest level.CMRL is also consid..

Maha-Metro Invites Pune Metro Civil Maintenance Bids

Maharashtra Metro Rail Corporation Limited (Maha-Metro) has invited bids for the annual civil maintenance contract of the Pune Metro Rail Project. The tender, bearing ID and number P1-O&M-20/2025, is scheduled to close on 23 February 2026, with a pre-bid meeting slated for 10 February 2026. The earnest money deposit (EMD) for the contract is Rs 3,50,500, and the duration of the contract is one year.The scope of work includes annual civil maintenance of 28 elevated and underground stations, 28.079 km of elevated viaduct including steel bridges, 12.15 km of tunnels, and two depots under the ..