HDFC Bank to monetise real estate assets inherited in merger

14 Nov 2024 CW Team

In a strategic shift, HDFC Bank plans to sell off several high-value properties acquired during its 2023 merger with its former parent, HDFC, according to sources familiar with the matter. The sale of these assets, including prime commercial and residential properties, could yield approximately Rs 3 billion crore for the bank.

Among the assets to be sold are the iconic HDFC House in Churchgate, South Mumbai, and residential apartments previously allocated to senior HDFC officials. The bank’s commercial real estate portfolio, spanning South Mumbai, Kalina, Chandivali, and other cities such as Kolkata, Mysore, and Bengaluru, is estimated at around ?2,400 crore, while the residential properties are valued at about Rs 8 billion.

HDFC House, formerly Lever House, was originally acquired by HDFC from Hindustan Unilever in 2014 for Rs 3 billion. The property, which spans 153,000 square feet, once housed Hindustan Unilever’s headquarters before the company relocated to Andheri. However, HDFC Bank has chosen to retain Ramon House, the former headquarters of HDFC, as part of its asset portfolio.

"This decision marks a key restructuring of HDFC Bank's assets, as the bank shifts focus from managing inherited properties to concentrating on its core banking activities," a source commented. (ET)

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 ..