Piramal Group aims to recover minimum 75% of Rs 6- billion loan
ECONOMY & POLICY

Piramal Group aims to recover minimum 75% of Rs 6- billion loan

The Piramal Group announced that a binding bid had been received for the sale of Tridhaatu Realty from CFM ARC, ensuring a minimum recovery of 75% in the structured deal.

CFM ARC proposed to pay Rs 4.5 billion for the Rs 6-billion bad loan in a 15:85 structure, with 15% in cash and the remaining in security receipts. It was explained that security receipts (SRs) are quasi debt instruments paid to the lender by ARCs as they are recovered.

It was further revealed that Piramal planned to conduct a Swiss Challenge on the initial offer and would make an announcement soon. Notably, HDFC had previously sold a real estate developer portfolio, including Tridhaatu Realty, to Assets Care and Reconstruction Enterprise (ACRE) ARC.

In the preceding month, Piramal had successfully sold bad loans worth Rs 5.31 billion to the Advantage Raheja group. This portfolio included properties like the JW Marriott facility in Bengaluru, and they were acquired by Omkara Assets Reconstruction.

Despite attempts to seek comments, spokespersons of Piramal and CFM ARC did not respond to requests for comment. It was highlighted that Piramal Enterprises and its subsidiary, Piramal Capital & Housing Finance, had been actively seeking bids for their real estate portfolio to sell off bad loans over the past few quarters.

The Piramal Group announced that a binding bid had been received for the sale of Tridhaatu Realty from CFM ARC, ensuring a minimum recovery of 75% in the structured deal. CFM ARC proposed to pay Rs 4.5 billion for the Rs 6-billion bad loan in a 15:85 structure, with 15% in cash and the remaining in security receipts. It was explained that security receipts (SRs) are quasi debt instruments paid to the lender by ARCs as they are recovered. It was further revealed that Piramal planned to conduct a Swiss Challenge on the initial offer and would make an announcement soon. Notably, HDFC had previously sold a real estate developer portfolio, including Tridhaatu Realty, to Assets Care and Reconstruction Enterprise (ACRE) ARC. In the preceding month, Piramal had successfully sold bad loans worth Rs 5.31 billion to the Advantage Raheja group. This portfolio included properties like the JW Marriott facility in Bengaluru, and they were acquired by Omkara Assets Reconstruction. Despite attempts to seek comments, spokespersons of Piramal and CFM ARC did not respond to requests for comment. It was highlighted that Piramal Enterprises and its subsidiary, Piramal Capital & Housing Finance, had been actively seeking bids for their real estate portfolio to sell off bad loans over the past few quarters.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?