Piramal Capital Sells Mumbai Commercial Building for ₹187 Crore
Piramal Capital has sold a commercial building in Mumbai's Kalina area for ₹187 crore. The property was originally owned by DHFL.
Piramal CapitalMumbaiCommercial BuildingReal EstateDhflReal Estate MumbaiOct 05, 2024
The sale of the commercial building is a significant transaction in the Mumbai real estate market, which has seen a slowdown in recent times. The property is located in the heart of the city and is expected to generate significant interest from investors and developers. Piramal Capital is a part of the Piramal Group, a diversified conglomerate with interests in financial services, pharmaceuticals, and real estate. The company has been actively involved in the debt resolution process of DHFL, which has been facing financial difficulties.
The sale of the commercial building is a positive development for Piramal Capital, which has been looking to monetize its assets and reduce its debt. The company has been exploring various options to raise funds, including the sale of its assets and raising debt from investors. The Mumbai real estate market has been facing a slowdown in recent times, with prices and sales volumes declining.
However, the sale of the commercial building by Piramal Capital is a positive development, which could indicate a revival in the market. About Piramal Enterprises Piramal Enterprises is a diversified conglomerate with interests in financial services, pharmaceuticals, and real estate. The company has a strong presence in India and is listed on the Bombay Stock Exchange and the National Stock Exchange.
Frequently Asked Questions
What is the value of the commercial building sold by Piramal Capital?
The commercial building was sold for ₹187 crore.
Who was the original owner of the commercial building?
The commercial building was originally owned by Dewan Housing Finance Corporation (DHFL).
Why did Piramal Capital sell the commercial building?
Piramal Capital sold the commercial building as part of its debt resolution process.
What is the significance of the sale of the commercial building?
The sale of the commercial building is a significant transaction in the Mumbai real estate market, which has seen a slowdown in recent times.
What is Piramal Capital's plan for the future?
Piramal Capital is exploring various options to raise funds, including the sale of its assets and raising debt from investors.
Related News Articles
Strata Sets Sights on Rs 2
Strata aims to migrate eligible assets to SM REITs
Anna Nagar: A Tale of Flooding and Unchecked Concretisation
Anna Nagar, once a well-planned residential area known for its high real estate prices, is now grappling with severe flooding and the consequences of uncontrolled concretisation. This story delves into the challenges faced by this high-profile neighborhoo
GIC Housing Finance's Net Profit Increases by 20.97% in Q2 FY25
GIC Housing Finance's net consolidated total income for Q2 FY25 was Rs 265.70 crore, a slight decrease of 1.66% from Rs 270.19 crore in the previous quarter. However, the company reported a significant rise in net profit, marking a 20.97% increase.
BSNL to Sell 780-Cotah Property in Kolkata for Rs 1,900 Crore
BSNL is set to finalize a major real estate deal in Kolkata, selling a 780-cotah plot at a prime location for Rs 1,900 crore. The plot, situated at the intersection of AJC Bose Road and Alipore Road, includes a heritage building.
CREDAI Hyderabad Unveils Detailed Insight into the Real Estate Market
V. Rajashekar Reddy, President of CREDAI Hyderabad, sheds light on the latest trends and developments in the city's housing market during the release of a comprehensive report.
Panchshil Realty Affiliate Acquires Land Worth Rs 615 Crore in Navi Mumbai
Panchshil Realty, under the leadership of Atul Chordia, has made significant land acquisitions in Navi Mumbai, purchasing parcels worth Rs 615 crore. This strategic move underscores the rising property values and development potential in the region, where