Page 4 - Shapoorji Pallonji Group

L&T, Shapoorji Pallonji show interest in New Delhi station revamp

Centre tweaked work scope amid tight pockets after failed attempt in 2022

SP Group firm Afcons Infra to tap market to raise Rs 8,000 cr: Report

The fundraising by Afcons Infrastructure comes shortly after another group company, Goswami Infratech, raised nearly Rs 14,500 crore by issuing bonds

Shapoorji Pallonji Group taps private credit market to raise $1.6 bn

The group has been seeking ways to free up cash as rising interest rates bite

Icra downgrades Shapoorji Pallonji Group flagship's ratings to BBB+

The flagship company of Shapoorji Pallonji Group, the single-largest shareholder in Tata Sons, had its debt downgraded on Thursday by a domestic rating agency. The Rs 19,600-crore debt across multiple instruments of Shapoorji Pallonji and Company Private Limited (SPCPL) has been downgraded to BBB+/A2 from A- (with a stable outlook)/ A2+, and placed on rating watch with developing implication, according to a statement. The delay in securing the requisite working capital limits, which has impacted the engineering, procurement and construction (EPC) operations in FY23, is resulting in modest profitability and muted debt coverage metrics, Icra said. Its line of credit was put to restricted use as a part of the One Time Restructuring (OTR) plan in March 2022, which constrained order execution in FY23, it said, adding timely sanction of adequate working capital limits remains critical to support the growth in core operations in the medium term. The 'Watch with Developing Implications' ..

Icra downgrades SPCPL's rating to BBB+ on delay in securing working capital

The delay has impacted the engineering, procurement, and construction (EPC) operations in FY23, resulting in modest profitability and muted debt coverage metrics compared with earlier estimates

Billionaire Shapoor Mistry's SP group weighs $2 billion asset sales: Report

The company is working with an adviser to seek buyer for its holdings in Afcons Infrastructure Ltd., a Mumbai-based infrastructure construction company, the people said

SP Group firm to raise $1 billion to repay debt, fund India operations

Armada 98/2 Pte was set up as a joint venture to provide offshore marine oil and gas services in response to ONGC's KG-DWN 98/2 tender

Shapoorji Pallonji's housing platform to invest Rs 750 cr on new project

Business conglomerate Shapoorji Pallonji's housing platform Joyville will invest around Rs 750 crore to develop a new housing project in Pune. Joyville Shapoorji Housing is a USD 200 million platform set up by Shapoorji Pallonji, ADB, IFC and Actis to develop housing projects. The company will develop nearly 1,350 housing units, including duplexes and penthouses, in this new 9-acre project with an estimated sales revenue of over Rs 1,000 crore. "We have acquired about 9-acre land near Hadapsar in Pune to develop a new project," Joyville Shapoorji Housing Managing Director Sriram Mahadevan told PTI. He said the total development potential of this project is around 13 lakh square feet. "In the first phase, we are launching two towers comprising 168 duplexes and penthouses. We did a survey that suggested that there is a great demand for this type of product as people want to upgrade their lives," Mahadevan said. Asked about the project cost, he said the total development cost will b

Motilal Oswal invests Rs 450 cr in Shapoorji Pallonji Real Estate

Takes exposure to two projects--one commercial, the other a residential township

Reliance on a buying spree to achieve its renewable energy goals

In AGM 2022, Ambani said that they would "accelerate" the company's commitment to investing Rs 75,000 crore towards establishing a New Energy manufacturing ecosystem in Jamnagar

Mistry death: Experts call for better enforcement of seat belt regulations

To begin with, seat belts for rear passengers should be enforced at least on national highways when one is travelling at 70 kmph and above, say safety experts

Deepak Parekh, Anil Ambani among corporate leaders to pay tribute to Mistry

Family friend and NCP leader Supriya Sule joins hundreds of SP group employees and others at the funeral Tuesday morning. Reliance Jio chief Akash Ambani among mourners

Sensex ends choppy day 49 pts down; DreamFolks rallies 42%; pvt banks weak

DreamFolks Services made a strong stock market debut as its shares got listed at Rs 508.70, a 56 per cent premium over its issue price of Rs 326 per share on the National Stock Exchange (NSE)

TMS Ep253: Reliance FMCG, IT industry, Shapoorji Pallonji, Nord Stream 1

Will Reliance's FMCG entry be another Nirma moment? Will margin pressures end IT's glory days? What next for Shapoorji Pallonji Group after Mistry's death? What's Nord Stream 1 pipeline? Answers here

What next for Shapoorji Pallonji Group investors after Mistry's death?

Cyrus Mistry's tragic demise has shocked the business world. It comes two months after his father Pallonji Mistry's demise. So, what next for the multi-billion dollar Shapoorji Pallonji Group?

Cyrus Mistry's funeral to be held on Tuesday morning in Mumbai

Mistry is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata, and brother Shapoor Mistry

Mistry's death sentimentally negative but stay put in SP Grp stks: Analysts

Cyrus Mistry, a high-profile Indian-born Irish businessman and the former chairman of the Tata group, passed away in a road accident on September 4, 2022

Cyrus Mistry's death brings attention back to the Shapoorji Pallonji Group

In 2012, Mistry was appointed as the chairman of the Tata Group. His brother, Shapoor Mistry, was entrusted with the responsibilities of the SP Group

Strategies for Shapoorji Pallonji Group stocks after Cyrus Mistry's death

Among individual listed stocks, Forbes & Company can rally up to 35 per cent; Eureka Forbes too looks good on charts.

Cyrus Mistry's death puts spotlight on SP Group's holding in Tata Sons

There were media reports in March this year that SP Group was taking a Rs 15,000 crore loan against its holding in Tata Sons