Page 4 - Shapoorji Pallonji

Going after working capital: SP Group firms' among most leveraged in India

The conglomerate had gross debt to equity ratio of 2.4x on an average during the year ended March this year, as against 0.82x on an average for top-listed companies, excluding financials and oil

Shapoorji Pallonji may sell Forbes stake to pay back Sterling Wilson

Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.

The sun stops shining for Shapoorji Pallonji as solar company IPO falters

Sterling and Wilson shares tank as Shapoorji Pallonji, the controlling shareholders, drag their feet on promise of repaying Rs 23 billion debt.

Shapoorji eyes tie-up with IFC, HDFC Capital Advisors for low-cost housing

Plans to build homes in the Rs 10 lakh to Rs 20 lakh category on the peripheries of large and tier II cities

NCLAT to hear Shapoorji Pallonji's plea on Korba West Power on Oct 15

The Ahmedabad bench of NCLT had in June approved a resolution plan for Korba West Power which gave Shapoorji Pallonji which had constructed the Korba West Power plant, 'nil' amount

Pallonji, ReNew Power to invest Rs 750 cr in UP solar power project

The companies will develop 150 mw floating solar power project in Sonbhadra

Sterling and Wilson Solar IPO: Business model, diverse operations key

Shapoorji Pallonji & Company holds a 66% stake in SWS while the rest is held by Khurshed Yazdi Daruvala

Shapoorji plans to reduce external debt to Rs 6,200 crore by FY20

It has already initiated the process to liquidate land holdings, according to Rating agency CARE Ratings

Bombay High Court quashes defamation plea by Shapoorjis against Venkat

Shapoorji Pallonji & Co had filed a defamation plaint in September 2018 before the Ballard Pier Court

Shapoorji debuts in Delhi-NCR realty mkt with Rs 1,200 cr housing projects

The project 'Joyville Gurugram', spread over 18 acre land on Dwarka Expressway, will be developed by a $200 million platform

Bombay HC seeks Shapoorji Pallonji's reply over Tata Trust chief's plea

In its complaint filed in September, the company had claimed that Venkatramanan, on May 30, issued a false, frivolous, baseless and defamatory press statement against it

Icra downgrades Shapoorji Pallonji on muted sales, continued cost pressure

Rating agency ICRA has downgraded Shapoorji Pallonji and Company's (SPC's) fund-based limit from AA+ to AA and placed it 'under watch'. The rating action is a sequel to muted sales and continued cost pressure. This has led to weak performance of the group's real estate portfolio and slower than anticipated progress on asset monetisation. The funding support provided to group/subsidiary companies (primarily real estate Special Purpose Vehicles or SPVs) had resulted in an increase in SPC's standalone borrowing levels, contrary to ICRA's earlier expectation. Also, the debt taken by the group's real estate units, for which SPC extended a debt service reserve account (DSRA) guarantee, is exposed to refinancing risks, as the projects would take time to generate commensurate cash flow.Monetisation of its information technology park at Chennai and the solar energy portfolio took place in the recent past. Proceeds from the IT park, says ICRA, are expected to be used for reducing debt at the ...

Icra downgrades Shapoorji Pallonji ratings on muted sales, weak performance

Recently, the company announced its plans to raise around $1 billion by bringing outside investors into its solar unit

Tycoon Pallonji Mistry eyes $1 billion via 30% share sale in solar unit

The solar unit, which provides engineering, procurement and construction services, will generate Rs 95 billion of revenue for the year ended March 2019

Shapoorji Pallonji to enter warehousing; in talks to form partnerships

Shapoorji Pallonji currently has nearly 90 million sqft of residential development in the pipeline across segments like luxury, mid-income and Joyville brand

CPPIB pips Shapoorji-Allianz, InterGlobe for Hyderabad business park

CPPIB has been stepping up presence in Indian real estate in the past couple of years

Shapoorji Pallonji and CPPIB joint venture firm to sell Chennai IT park

The JV company, bought SP Infocity IT Park for $220 million (Rs 13.40 billion) in mid-2015

Shapoorji Pallonji, Abu Dhabi to fund office space

This is third such alliance for Shapoorji Pallonji after tie-ups with CPPIB, Germany's Allianz group

Shapoorji Pallonji elevates two executives

This comes at a time when it is expanding its realty business by launching residential projects

Shapoorji sees opportunity amid realty slowdown, to launch a dozen projects

Covering about 13 mn sq ft, experts agreed this is the biggest plan by any developer at the moment