Page 6 - Shapoorji Pallonji Group

Joyville sales bookings jump three-times to Rs 450 cr in April-September

Business conglomerate Shapoorji Pallonji's housing platform Joyville has clocked nearly three-fold jump in its sales booking at Rs 450 crore during the first half of this fiscal year on strong demand for mid-income residential properties, a top company official said. Joyville, which is a Rs 1,240 crore platform established by Shapoorji Pallonji, ADB, IFC and Actis, had sold properties worth Rs 160 crore in the corresponding period of the last fiscal year. In an interview with PTI, Joyville Shapoorji Housing Managing Director Sriram Mahadevan said, "the real estate market is doing well because of improved market sentiments driven by progress in the vaccination programme." Moreover, COVID-19 cases have also come down significantly, he added. "We have sold over 700 apartments for around Rs 450 crore in the first six months of this financial year. The sales bookings have grown almost three times compared to the year-ago period," Mahadevan told PTI. Sales have been good in all four cit

Tata-Mistry battle: Can debt-ridden SP Group monetise its crown jewel?

The 70-year ties between Tata Group and SP Group have gone from sweet to sour in last few years. Mistrys want to exit Tata Sons and liquidate their stake. Will they succeed? Watch this report

Forbes & Co jumps 5% as PE major Advent buys stake in Eureka Forbes

The private equity major Advent International on Sunday signed an agreement with Shapoorji Pallonji Group to acquire a majority stake in Eureka Forbes at an enterprise valuation of Rs 4,400 crore

Afcons bags largest-ever infrastructure project in Maldives

It involves constructing the Male to Thilafushi Link project, popularly called Greater Male' Connectivity Project (GMCP) over 32 months.

Tata go-ahead not needed to pledge shares, says Shapoorji Pallonji Group

Has approached foreign banks for a Rs 5,000-crore bridge loan

Sterling and Wilson Solar announces appointment of Amit Jain as Global CEO

Sterling and Wilson Solar Ltd on Monday announced the appointment of Amit Jain as Global CEO. Indian multinational and global leader in Solar EPC, Sterling and Wilson Solar Ltd has appointed Amit Jain as Global CEO, the company said in a BSE filing. He succeeds Bikesh Ogra, who relinquished the position with effect from May 31, 2021. Ogra will continue as a Director on the Board of the company. Jain has been associated with Sterling and Wilson Solar Ltd since January 2019 as the Country Head for the US and Australia. He has been instrumental in developing the US and Australia as key markets for the company. Jain will take over the global operations of the company and report to the Board of Directors. He will now be responsible for business development, market growth and the P&L for SWSL that has its operations across 25+ countries. He will continue to operate from Dubai. Khurshed Daruvala, Chairman, Sterling and Wilson Solar Ltd, said in a statement, We are delighted to elevat

'Miscarriage of justice', claims SP group's Tata-Mistry case review plea

Minority shareholders rights to get impacted, says review petition in SC

Tata vs Mistry: Shapoorji Pallonji Group files review petition in SC

In its March 26 judgement, Supreme Court had ruled in favour of the Tata Group

Tata vs Mistry: Shapoorji-Pallonji group files review petition in SC

In its March 26 verdict, the court had ruled in favour of the Tata group

Tata-Mistry case: SC verdict puts spotlight on duties of nominee directors

The Supreme Court's observations in the Tata-Mistry case has raised questions about the fiduciary duties of nominee directors

A comprehensive win for the Tatas

They stand vindicated in the Mistry saga, but what is legally sound may not conform to the best standards of governance

Private equity firms value SP Group stake in Tata Sons at hefty discount

PE players willing to offer credit are asking for two things - a personal guarantee from the SP family, and a pledge of shares in its own group companies.

Tata-Mistry spat: What it means for minority and small shareholders

Experts explain the distinction between the rights of small and minority shareholders in public-listed and private companies

SP Group's debt recast gets KV Kamath Committee, lenders approval

As part of the OTR plan, the Shapoorji Pallonji group has agreed to sell key assets, including its stakes in Eureka Forbes, Sterling and Wilson and land parcels, to raise Rs 10k cr and repay its loans

SP Group exit likely to stretch Tata's finances for years to come

Tata Sons had liabilities of Rs 33,500 cr and debt-to-equity of 0.7x last year

A chartered accountant's math may hold key to Mistry's exit from Tata Sons

Tata Group may offer an exit to Mistry family from Tata Sons on the basis of valuation chartered accountant Y H Malegam put in 2016.

Tata empire in stronger position against Mistry after Supreme Court verdict

There's room in India for a Tata super-app to compete with Mukesh Ambani's Reliance Industries Ltd

Tata vs Mistry: Minority shareholders cannot claim board seat, says SC

The court has made it clear that Mistry Group is not a small shareholder and a board seat cannot be allotted to it contractually or by law

Vindication for Tatas

Another legal battle over stake valuation must be avoided

Tata vs Mistry: SC rules in favour of Tata Group, sets aside NCLAT order

The court said that it is up to Tata Sons, Mistry to take the legal route to resolve the issue of shares