HDFC Capital Exits Total Environment Project

HDFC exits Bengaluru project with Rs 2.98 bn return

HDFC Capital has successfully exited its investment in a Bengaluru-based real estate project, yielding a return of Rs 2.98 billion. The project, developed by Total Environment Building Systems, involved an initial investment from HDFC Capital and subsequent exits through stake sales.

This exit marks another successful venture for HDFC Capital, demonstrating its strategic investment approach in the real estate sector. Total Environment, known for its focus on design and sustainability, has delivered premium residential projects across major cities in India.

The Bengaluru projec..

NSE-listed companies' CSR spending reached Rs 155.24 bn in FY23

India Inc.'s corporate social responsibility (CSR) spends reportedly increased by 5% from Rs 148.16 billion in FY22 to Rs 155.24 billion in FY23 across 1,296 NSE-listed companies. It was highlighted that HDFC Bank (Rs 8.20 billion), Tata Consultancy Services (Rs 7.83 billion), and Reliance Industries (Rs 7.44 billion) were the top contributors in this regard.

It was noted that ten companies, including the aforementioned three, collectively contributed to 33% of the total CSR expenditure in FY23, as per data exclusively shared with ET by primeinfobase.com, an initiative of Prime Databas..

HDFC Capital Exits Bangalore Project, Nets Rs 300 Cr

HDFC Capital, the real estate private equity arm of HDFC Group and a subsidiary of HDFC Bank Ltd, has marked a significant milestone with its exit from a Total Environment project in Bangalore, yielding returns close to Rs 300 crore.

The investment giant had injected Rs 229 crore into a residential apartment project situated in the bustling locale of Whitefield, Bangalore. This investment was directed towards the development of 1 million square feet of residential apartments within the project named ?Pursuit of a Radical Rhapsody?.

Notably, the project encompassed a total area of..

PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..

KMRL's Rs.1.16 Bn Project Delayed Due to Lack of Government Support

The Kochi Metro Rail Limited (KMRL) is experiencing setbacks in its ?1.16 billion project as several government departments have reportedly failed to provide necessary support. The project, aimed at enhancing urban transportation infrastructure in Kochi, has encountered delays due to bureaucratic hurdles and insufficient cooperation from concerned government bodies.

According to sources familiar with the matter, the project's progress has been significantly hampered as key departments have not fulfilled their commitments, including providing essential clearances and approvals. This lack..