L&T Finance sells real estate loans to Phoenix ARC

05 Jul 2023 CW Team

According to persons with knowledge of the event, L&T Finance, a division of the publicly traded L&T Finance Holdings, sold a stressed portfolio with a total loan value of 718000 million to the Kotak Mahindra Bank-backed Phoenix Asset Reconstruction Company (ARC) during an auction last week.

According to the sources, six real estate accounts from the portfolio were sold for a total of 710,750 million, representing a 60% profit for L&T Finance. A notice posted by the financing company on its website at the beginning of last month stated that the company was seeking proposals under a 15:85 structure for ten accounts totaling $3,0225 million in loans.

Phoenix ARC purchased Nirmal Lifestyle Developers with loans totaling $790 crore, Nirmal Lifestyle Malls with loans totaling 7231 crore, Brownish Realty with loans totaling 222 crore, Coast Realtors with loans totaling R113 crore, Poise Realtech with loans totaling 279 crore, and SU Toll Road with loans totaling 168 crores.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..