APSEZ ports' May cargo handling surges 19%, YTD figures rise 16%

05 Jun 2023 CW Team

Adani Ports and Special Economic Zone’s (APSEZ) total cargo handling at their controlled ports increased by 19% to 36 MMT in May compared to the previous year. The company stated that there was growth observed across most ports and all three cargo segments. On a year-to-date basis, APSEZ's overall cargo volumes surged by 16 percent, reaching 68.5 MMT. The container segment experienced a 24 percent rise in volumes during the first five months of the year, while the dry bulk and liquids and gas segments witnessed an increase of 12 percent and 10 percent respectively.

Additionally, the rail volumes for the year-to-date period also saw a significant jump of 25 percent, amounting to 93,000 TEUs.

Earlier, the company had announced its plan to pay off $130 million of its debt early, following a tender offer for the early payment of approximately $413 million worth of debt. This move was made to enhance investor confidence, especially after the group's shares were negatively impacted by a report from Hindenburg Research, a US-based short seller.

During the same month, Deloitte, the company's auditor, raised concerns about APSEZ's transactions with three entities and expressed uncertainty about the company's compliance with local laws. In a qualified opinion, Deloitte stated that the evaluation conducted by the group did not provide sufficient appropriate audit evidence for the purpose of the audit.

Real Estate

11 May 2026

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..

Brigade, Marriott Open Courtyard Kochi Infopark

Brigade Hotel Ventures (BHVL) and Marriott International have opened Courtyard by Marriott Kochi Infopark, a rebranded and upgraded hotel formerly operating as Four Points by Sheraton Kochi Infopark.Located in Kakkanad adjoining Infopark Kochi, the 218-room property strengthens Brigade’s hospitality portfolio in one of the city’s key IT and commercial corridors. The hotel is positioned to cater to corporate, MICE and leisure travellers visiting Infopark, SmartCity and other business hubs in Kochi.The property offers flexible workspaces, smart TVs and high-speed WiFi across rooms and suites..

WorkEZ Expands South India Portfolio to 1.7 Mn Sq Ft

Work Easy Space Solutions (WorkEZ) has expanded its managed workspace portfolio to approximately 1.7 million sq. ft. across 12 operational buildings and two upcoming developments, strengthening its footprint across South India.The expansion includes the addition of 65,000 sq. ft. at Phoenix One National Park in Chennai and the company’s entry into Kochi through a partnership with Lulu Developers, adding another 70,000 sq. ft.WorkEZ has also signed a 0.4 million sq. ft. development in Coimbatore with Veeras Infra following the successful leasing of 0.1 million sq. ft. in the first phase. The ..