Latest news with #SPV
Time of India
2 days ago
- Business
- Time of India
Cluster-based development to anchor Dharavi Redevelopment master plan
The Dharavi Redevelopment Project, a massive undertaking across 600 acres, aims to transform the area into organized neighborhoods with integrated infrastructure. The master plan, approved by the state government, emphasizes cluster-based development, a new road network, and a Multi-Modal Transit Hub. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Dharavi Redevelopment Project (DRP) spread over nearly 600 acres in the heart of country's financial capital will be anchored by cluster-based development , aimed at reorganising the area into compact neighbourhoods with residential, commercial, and social infrastructure located within walking distance, showed the project's master plan approved by the state cluster will include flexible social spaces, public transport access, and internal street networks. Playgrounds and child-focused spaces are part of the design, along with open areas and designated facilities for small-scale industries operating in the DRP Master Plan outlines 15 major components. Along with clusters, the project includes a new road network of 21 km, with streets planned every 125 metres and rights-of-way ranging from 9 to 36 metres. This is intended to improve traffic movement and reduce pressure on main roads by distributing vehicle flow internally. Multi-Modal Transit Hub (MMTH) is also proposed as a central mobility node connecting Metro, suburban trains, inter-city rail, airport express, buses, and non-motorised transport. The hub will also include office space, retail outlets, restaurants, and hotel facilities. Passengers can check in for flights and store baggage at the hub before businesses operating in the area, the plan includes designated workspaces with reinforced structures to accommodate units that qualify for rehabilitation will receive space within the new development, while ineligible and lessee units will have the option to lease commercial premises constructed by the SPV, NMDPL, under the 10% commercial share set aside for upkeep of residential plan also proposes a connected open space network, including local playgrounds, community parks, and larger public spaces. A central public square, referred to in the plan as the 'Central Heart,' will function as a shared space for events and gatherings.A green corridor, called the Green Spine, will cut across Dharavi from Mahim Nature Park to the railway redevelopment area. The corridor will include bioswales and serve as part of the area's stormwater management infrastructure will include hospitals, polyclinics, diagnostic centres, and first-aid facilities spread across Dharavi and surrounding locations. The plan also proposes new religious complexes intended to serve multiple redevelopment is positioned as a complete reorganisation of land use, transport, and service infrastructure, with cluster development forming the base framework for implementation
Business Standard
3 days ago
- Automotive
- Business Standard
Adani Energy Solutions wins Rs 1660 cr inter-state transmission project in Maharashtra
Adani Energy Solutions (AESL) has won a Rs 1,660 crore inter-state transmission project in Maharashtra. The project scope includes establishment of 3,000 Mega Volt-Amperes (MVA) of substations capacity, besides other related transmission infrastructure, taking AESL's overall transmission network to 26,696 ckm and 93,236 MVA of transformation capacity. AESL is scheduled to commission the project by January 2028. The project, housed under the Special Purpose Vehicle (SPV) WRNES Talegaon Power Transmission Ltd, will help evacuate 1.5 GW of green power from upcoming hydro Pumped Storage Projects (PSP) in the region and will help meet demand from Mumbai and surrounding areas. The project SPV was formally transferred to AESL today. AESL won this Inter State Transmission System (ISTS) project under the Tariff Based Competitive Bidding (TBCB) mechanism, and REC Power Development and Consultancy Ltd (RECPDCL) was the bid process coordinator. With this order win, AESL's transmission orderbook now stands at Rs ~61,600 crore.
Time of India
3 days ago
- Business
- Time of India
Adani Energy Solutions bags ₹1,660 crore transmission project in Maharashtra
Ahmedabad: Adani Energy Solutions Ltd (AESL) on Friday said it has won a ₹1,660 crore inter-state transmission project in Maharashtra . The project scope includes the establishment of 3,000 megavolt-amperes (MVA) of substations capacity, besides other related transmission infrastructure, taking AESL's overall transmission network to 26,696 ckm (circuit kilometres) and 93,236 MVA of transformation capacity. AESL, India's largest private transmission and distribution company and part of the globally diversified Adani portfolio, said it is scheduled to commission the project by January 2028. The project, housed under the Special Purpose Vehicle (SPV), WRNES Talegaon Power Transmission Ltd, will help evacuate 1.5 GW of green power from upcoming hydro Pumped Storage Projects (PSP) in the region and will help meet demand from Mumbai and surrounding areas. The project SPV has formally been transferred to AESL. AESL won this Inter-State Transmission System (ISTS) project under the tariff-based competitive bidding (TBCB) mechanism, and REC Power Development and Consultancy Ltd (RECPDCL) was the bid process coordinator. With this order win, AESL's transmission orderbook now stands at ₹61,600 crore, informed the company. Adani Energy Solutions reported an impressive 103 per cent annual profit after tax (PAT) growth in FY25 at an all-time high of ₹2,427 crore, as the company posted 87 per cent PAT growth at ₹714 crore in Q4 (January-March). The Adani Group company also showed strong growth of 42 per cent (year-on-year) in its total income at ₹24,447 crore in FY25, which is the highest ever is driven by the contributions from the recently commissioned transmission projects, robust energy sales in Mumbai and Mundra utilities and contribution from the smart metering business. During the March quarter, the company secured two new transmission projects -- Navinal (Mundra) Phase I Part B1 and Mahan Transmission Ltd.
Time of India
3 days ago
- Business
- Time of India
Cube Highways Trust declares total distribution of ₹11 per Ordinary Unit for FY25
Cube Highways Trust ( Cube InvIT ) said its consolidated income grew 12.3 percent to ₹3,453 crore in FY25. Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt Ltd, has approved a Distribution Per Unit (DPU) of ₹3.75 for the quarter, payable to ordinary unitholders. The total distribution for the quarter amounts to ₹500 crore. This distribution comprises ₹1.96 per unit as interest, ₹0.32 per unit as dividend, ₹1.46 per unit as repayment of SPV loan and ₹0.01 per unit as treasury income. The annual DPU of ₹11 declared for FY25 translated into ₹1,468 crore. The distribution comprises ₹5.71per unit as interest, ₹0.55 per unit as dividend, ₹4.71 per unit as repayment of SPV loan and ₹0.03 per unit as treasury income. The annual DPU for FY24 was ₹10.09. During the year, traffic volumes grew by 6.2 percent while the Asset Under Management (AUM) grew 25 percent to ₹32,266 crore as of March 31, 2025. The Net Debt to Enterprise Value ratio was maintained at 44.65 percent, offering ample headroom for growth. 'Our diversified highway portfolio continues to deliver strong and predictable traffic growth and continues to receive accolades for its O&M quality. We have successfully executed our strategy of deploying our debt capacity by acquiring seven road assets and, in addition, have executed binding Share Purchase Agreements (SPAs) for two additional acquisitions. These acquisitions are accretive to unitholder yields and value and will simultaneously de-risk the portfolio," Vinay Sekar , CEO of Cube InvIT, The record date for the distribution is June 2, 2025, and the distribution payout will be made on or before June 9, 2025. Cube Highways Trust is backed by I Squared Capital , a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, and Abu Dhabi's sovereign investor Mubadala Investment Company. The Trust operates and manages highway projects in association with the Central and state governments.
Hans India
3 days ago
- Business
- Hans India
Adani Energy Solutions bags Rs 1,660 crore transmission project in Maharashtra
Ahmedabad: Adani Energy Solutions Ltd (AESL) on Friday said it has won a Rs 1,660 crore inter-state transmission project in Maharashtra. The project scope includes the establishment of 3,000 megavolt-amperes (MVA) of substations capacity, besides other related transmission infrastructure, taking AESL's overall transmission network to 26,696 ckm (circuit kilometres) and 93,236 MVA of transformation capacity. AESL, India's largest private transmission and distribution company and part of the globally diversified Adani portfolio, said it is scheduled to commission the project by January 2028. The project, housed under the Special Purpose Vehicle (SPV), WRNES Talegaon Power Transmission Ltd, will help evacuate 1.5 GW of green power from upcoming hydro Pumped Storage Projects (PSP) in the region and will help meet demand from Mumbai and surrounding areas. The project SPV has formally been transferred to AESL. AESL won this Inter-State Transmission System (ISTS) project under the tariff-based competitive bidding (TBCB) mechanism, and REC Power Development and Consultancy Ltd (RECPDCL) was the bid process coordinator. With this order win, AESL's transmission orderbook now stands at Rs 61,600 crore, informed the company. Adani Energy Solutions reported an impressive 103 per cent annual profit after tax (PAT) growth in FY25 at an all-time high of Rs 2,427 crore, as the company posted 87 per cent PAT growth at Rs 714 crore in Q4 (January-March). The Adani Group company also showed strong growth of 42 per cent (year-on-year) in its total income at Rs 24,447 crore in FY25, which is the highest ever is driven by the contributions from the recently commissioned transmission projects, robust energy sales in Mumbai and Mundra utilities and contribution from the smart metering business. During the March quarter, the company secured two new transmission projects -- Navinal (Mundra) Phase I Part B1 and Mahan Transmission Ltd.
