NARCL bids Rs 2.7 bn for Pink City Eway, 15% recovery expected

22 Jan 2024 CW Team

The National Asset Reconstruction Co (NARCL), a bad loan aggregator supported by the government, has presented a Rs 2.70 billion proposal for Pink City Expressway (PCEPL). PCEPL was established to construct, operate, and maintain the six-lane Gurugram-Kotputli-Jaipur section of the Delhi-Jaipur highway.

According to the rating agency Care, PCEPL holds Rs 17.61 billion in outstanding loans and Rs 30 million in bank guarantees. This implies that lenders can recover approximately 15% of their claims from NARCL.

The process involves the bad bank acquiring loans by paying 15% of the amount in cash and the remainder in security receipts (SRs). These SRs are to be matched with recovery over time and are guaranteed by the government for five years. They can be invoked by banks in case of resolution or liquidation of the bad loan.

A person familiar with the process, speaking on condition of anonymity, stated, "The PCEPL offer was finalised last week after NARCL completed all its financial and legal due diligence. Individual banks have to approve the transaction for it to be completed." About a dozen banks, with IDBI Bank at the forefront and including Canara Bank, IFCL, and State Bank of India (SBI), are lenders to the project.

This offer marks the first from NARCL to banks in over four months and the first since changes in the top management of the bad bank. Diwakar Gupta, former SBI managing director, assumed the position of NARCL chairman in early December, succeeding Karnam Sekar, who resigned in August due to differences over the institution's functioning.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..