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Time of India
a day ago
- Business
- Time of India
Finance minister Nirmala Sitharaman asks NIIF to diversify financial sources
NEW DELHI: Finance minister Nirmala Sitharaman on Monday asked the National Investment and Infrastructure Fund (NIIF) to leverage its sovereign-backed design to showcase its performance at the global stage. Chairing the 6th meeting of the Governing Council (GC), Sitharaman exhorted the NIIF to have a proactive approach to fundraising and the need to explore diversified sources of financing, the finance ministry said in a statement. The Rs 40,000-crore NIIF was set up in Dec 2015 as an institution to enhance infrastructure financing by investing in greenfield, brownfield and stalled projects. The quasi-sovereign wealth fund's assets under management (AUMs) have increased to more than Rs 30,000 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
15-05-2025
- Business
- Business Standard
Assetz aims to launch Rs 7,500 crore GDV residential projects in FY26
Bengaluru-based real estate firm Assetz aims to launch luxury residential projects with a Gross Development Value (GDV) of Rs 7,500 crore within FY26, while targeting a pre-sales compound annual growth rate (CAGR) of 45 per cent over the next three years, backed by sufficient land parcels to support launches during this period. The total GDV of unsold inventory and upcoming launches for the current year is estimated at around Rs 10,000 crore. The company also told Business Standard that it is 'evaluating IPO plans' for the future, though it did not provide a specific timeline. Sunil Pareek, Executive Director, Assetz, said, 'We have delivered over 40 per cent CAGR in pre-sales over the past three to four years, and we have strong visibility of sustaining the momentum going ahead.' Backed by the likes of the National Investment and Infrastructure Fund (NIIF), JP Morgan, and Apollo Global Management, Assetz operates across domains such as residential, commercial, warehousing, and data centres. 'Real estate has evolved from simply constructing buildings to offering a complete lifestyle. Developers who understand this shift—and adapt to the changing needs of today's homebuyers, primarily millennials and Gen Z—are succeeding.' Assetz revealed that it has secured approximately 600 acres of land for residential projects over the past decade, with around 250 acres currently under active development. The company has also developed commercial assets that were subsequently acquired by Singapore-based Mapletree Investments and Blackstone. 'We primarily secure land through joint development agreements. We also selectively purchase land when valuations align with our unit economics. Additionally, we strategically pursue development management contracts to gain access to prime land parcels.' As part of its geographical expansion strategy, the company plans to enter South Bengaluru and aims to launch approximately 6,000 homes over the next 15 to 18 months. 'You scale quickly if you can deliver a superior product at a fair price. Based on pre-sales performance alone, we believe we're on track to be among the top five developers in Bengaluru—not by legacy, but by current market demand.' In line with its goal of capturing 6–7 per cent of Bengaluru's real estate market over the next three years, the realtor plans to increase its land holdings to 27 by acquiring 10 additional parcels in the near term.
