Shapoorji Pallonji divests Gopalpur port for Rs 33.5 bn

26 Mar 2024 CW Team

The Shapoorji Pallonji Group announced the sale of its Brownfield Gopalpur Port to Adani Ports and SEZ for an enterprise value of Rs 33.5 billion. This is the second port divestment in the last few months from the diversified construction and infrastructure, real estate and energy conglomerate. It had earlier divested its Dharamtar Port to JSW Infrastructure Limited for an enterprise value of INR 7.1 billion. With these asset sales, the SP Group continues its deleveraging journey with planned asset monetisation to marquee counterparts.

The Shapoorji Pallonji Group had acquired Dharamtar Port (in Maharashtra) in 2015 and has successfully turned around port operations. From less than 1 MTPA when Shapoorji Pallonji took over, Dharamtar Port is expected to handle 5 MTPA in FY24.

The under-construction Gopalpur Port, located in Odisha, was acquired in 2017, with significant issues hampering its development. Post acquisition, the Shapoorji Pallonji Group commenced port operations by building the port infrastructure and stabilising industrial relations. Currently, the port operates at high levels of efficiency, capable of handling 20 MTPA. Further, it recently signed up with Petronet LNG to set up a Greenfield LNG regasification terminal, adding predictable long term cash flows for the Port.

A Shapoorji Pallonji group spokesperson said “The planned divestments of Gopalpur and Dharamtar Ports, at a significant enterprise value, demonstrate the group’s ability to turn around assets and create stakeholder value in a relatively short period of time, capitalising our core strengths in project development and construction. These divestments are key milestones in our roadmap to reduce group debt and set the stage for growth, taking advantage of the macro trends for demand in our core businesses, both in India and overseas”.

The Shapoorji Pallonji Group was advised, on this deal, by Deutsche Bank.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..