Vriti Gothi

GMR Group, a key player in India's infrastructure sector, has received a significant investment of INR 6,300 crore (approximately USD 750 million) from the Abu Dhabi Investment Authority (ADIA). The funds will be used to refinance existing debts of GMR Enterprises Pvt Ltd, boosting the financial health of its airport operations. This move aligns with ADIA's confidence in India's aviation sector and its growth prospects. GMR's strong portfolio of airports in India and abroad underscores its strategic importance in the global aviation market.Read more

hBits, a rising real estate platform, secured INR 40 crore in Series A funding from Capricon Realty, part of the Thackersey Group. The funds will enhance its technology platform and support geographic expansion. hBits has applied for a small and medium REITs (SM REITs) license with SEBI, aiming to democratize real estate investments. The company targets a threefold increase in assets under management (AUM) to INR 1,500 crore by FY26. By leveraging technology, building strategic partnerships, and introducing SM REITs, hBits is poised to revolutionize real estate investing in India, offering broader access and stable returns to investors amidst market volatility.Read more

In a landmark ruling, the Gujarat High Court has exempted the transfer of leasehold rights in land granted by the Gujarat Industrial Development Corporation (GIDC) from goods and services tax (GST). This decision provides relief to businesses in Gujarat and Maharashtra, which faced retrospective GST demands of 18%, totaling INR 8,000 crore. The court ruled that such transactions should be treated as land sales, already subject to stamp duty, avoiding double taxation. While the judgment offers clarity and a precedent for similar disputes nationwide, including cases pending before the Bombay High Court, a definitive resolution may depend on a Supreme Court judgment or guidance from the Central Board of Indirect Taxes and Customs.Read more

State-owned lender India Infrastructure Finance Company Ltd (IIFCL) is preparing to raise USD 200 million via external commercial borrowing (ECB) this month to bolster its infrastructure funding capabilities. Managing Director P R Jaishankar highlighted that this marks IIFCL's first ECB since its establishment in 2007, emphasising its strategy to diversify funding sources. The company aims to mobilise INR 8,000 crore by March 2025, with the current fiscal's total target at INR 29,000 crore. Collaborative funding with the Asian Development Bank and Korean Development Bank is also underway, reflecting IIFCL's commitment to infrastructure development.Read more

India's housing sales surged to a 12-year high in 2024, growing 7% year-on-year across eight major cities to 350,613 units, fueled by strong demand for premium homes, according to Knight Frank. Mumbai led with an 11% increase, while Hyderabad and Pune also set record highs. However, the affordable segment under INR 50 lakh faced challenges, indicating a shift in buyer preferences towards larger, well-amenitized properties. While Knight Frank highlights robust sales, Anarock reports a 4% decline across seven cities, reflecting market complexities. As the focus shifts to premium housing, balancing this demand with affordable solutions will be crucial for sustained growth in 2025.Read more

Institutional investments in Indian real estate soared to USD 6.5 billion in 2024, a 22% year-on-year increase, according to Colliers India. The industrial and warehousing sector led the growth, attracting USD 2.5 billion-39% of total inflows-highlighting India's rising status as a manufacturing hub. The office segment captured 36% of investments, reflecting sustained demand for quality commercial assets. Mumbai accounted for 24% of the total, with multi-city deals contributing 39%. Domestic investors made up 43% of Q4 inflows, underscoring growing local confidence. This strong performance signals Indian real estate's resilience and its appeal to both domestic and global institutional investors.Read more

Facing an unprecedented financial crisis, the Chandigarh municipal corporation (MC) is seeking private partnerships to maintain its assets and ensure operational functionality. The MC has floated an expression of interest (EOI) to engage private bidders for managing five community centres on a public-private partnership (PPP) model and making 15 gyms operational. Under these contracts, private entities will take responsibility for booking, operating, and maintaining these facilities, while also sharing earnings with the MC. This approach aims to address challenges in managing costly investments, including INR 70-80 crore spent on community centres and significant sums on gym establishments.Read more

Capital Infra Trust, previously known as National Infrastructure Trust, launched its Infrastructure Investment Trust (InvIT) IPO earlier this week, aiming to raise INR 1,578 crore. The issue includes a fresh issue of INR 1,077 crore and an offer for sale of INR 501 crore. Backed by Gawar Construction Limited, the trust manages nine revenue-generating road assets spanning 682.425 kilometers across India. With a price band set at INR 99-100 per unit, the IPO has already attracted INR 703 crore in anchor investments, signalling strong institutional interest. The proceeds will be used to repay debts and strengthen its infrastructure projects.Read more

ASK Property Fund and India Sotheby's International Realty have launched a INR 1,000 crore equity fund aimed at investing in luxury residential projects across India. The fund, called ASK Curated Luxury Assets Fund, is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund. It is designed to offer superior returns by focusing on high-end residential projects, holiday homes, and second-home markets in top cities and popular destinations. The fund will target both institutional and individual investors, including family offices, pension funds, and high net-worth individuals.Read more

Motilal Oswal Alternates (MO Alts), the alternative investments division of Motilal Oswal Financial Services, has successfully raised over INR 1,750 crore for its sixth real estate fund, India Realty Excellence Fund VI (IREF VI). The fund targets early-stage investments in mid-income and affordable residential projects across India's top eight cities, including Mumbai, Delhi-NCR, and Bengaluru. With nearly 90% of its INR 2,000 crore target achieved, MO Alts has already committed INR 1,000 crore across projects in cities like Hyderabad and Chennai. The platform manages over INR 9,500 crore in real estate assets, reflecting its commitment to bridging the capital gap in the sector.Read more