Tag: adani group

Latest StoriesRecent Stories

Adani can’t sub-lease its data centre project to another company until it’s complete: Noida authority

Representative Image NOIDA: Noida Authority has ruled out the possibility of sub-leasing its Sector 80 industrial plot to Noida Data Centre Ltd — a group firm of Adani Enterprises Ltd — before the project is declared functional. The decision marks a reversal of the Authority’s earlier stance, with officials insisting they would not allow any relaxation from original allotment conditions. According to officials, the plot allotted to Adani in 2021 was still undeveloped and the company had not applied for map approval either. They cited Clause 14-B of the lease deed, which clarified that sub-leasing would be allowed only after…

Latest StoriesRecent Stories

Maharashtra government approves stamp duty concessions for Dharavi redevelopment project

MUMBAI: The Maharashtra cabinet on Tuesday gave its nod to stamp duty concessions for lease agreements between the Special Purpose Vehicle (SPV) created for the Dharavi Redevelopment Project and other agencies. The decision was taken at a meeting chaired by Chief Minister Devendra Fadnavis. An SPV has been established for the integrated redevelopment of Dharavi, one of the biggest slum sprawls in Asia which is located in central Mumbai. The redevelopment project is a joint venture between the state government and the Adani group. The redevelopment- rehabilitation scheme has been declared an ‘essential urban and special project’ and a policy…

Latest StoriesRecent Stories

Ambuja Cements aims to reach 118 MTPA by FY26

Representative Image NEW DELHI: Adani Group firm Ambuja Cements — the second largest cement producer in the country — contributes to nearly 30 per cent of the cement used for India’s homes and infrastructure, the company said in its latest annual report. Ambuja Cements, which has crossed 100 MTPA (Million Tonnes Per Annum) capacity in FY25 in a record time, mainly through acquisitions, now aims to reach 118 MTPA by FY 2026 and 140 MTPA by FY 2028, primarily through brownfield expansion projects. “Ambuja Cements, now a core part of the Adani Group’s cement business, contributes to nearly 30 per…

Residential

No need of slum-dwellers’ nod for Dharavi project, says CEO

MUMBAI: Responding to queries on the resistance to the Dharavi redeveloment project from a section of slum-dwellers, its CEO, S V R Srinivas, told TOI that more than 50% of the residents have already consented to the project. But more significantly, he revealed that the project did not require public consent in the first place because the developer had been appointed by the state govt. “Under the SRA rules, the building society appoints the developer. For that, 50% consent is required. But here, the govt has appointed the developer. In this case, there is no need for consent,” said Srinivas…

Industry

Experts estimate free sale portion in Dharavi at 140 million sq ft

Representative photo MUMBAI: Property experts estimate a free sale component of roughly 140 million sq ft to be unlocked by the Dharavi redevelopment plan, yielding revenues of Rs 1.2-1.7 lakh crore for the joint venture between the state govt and the Adani group. Said Anuj Puri, chairman, Anarock Group, “At a rough estimate, the Dharavi redevelopment project presents the builder with about 140 million sq.ft. of overall saleable area for sale on the open market, with a separate allotment for rehabilitation of the current inhabitants. We are roughly looking at over Rs 1 lakh crore of gross revenue. The anticipated…

Industry

Adani Realty, Emaar Group said to cease talks on Indian real estate unit sale

Billionaire Gautam Adani’s real estate division has decided against buying the Indian unit of Dubai-based developer Emaar Group due to disagreements on valuation, according to people familiar with the matter. The Adani family and Emaar had been in talks for a sale of Emaar India Ltd. at an enterprise value of $1.4 billion, Bloomberg News reported in March. Two months prior, Emaar said it was in discussions with potential buyers in India, including Adani. The negotiations with Adani hit a snag because the two parties couldn’t reach a consensus on value, the people said, asking not to be identified because…