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Business Standard
23-05-2025
- Business
- Business Standard
Blackstone-backed firms invest ₹1,060 crore in Embassy Developments
Blackstone Real Estate Fund-backed NCL SG Holdings Pte Limited and Bellanza Developers Private Limited have invested ₹1,060 crore into Bengaluru-based realty major Embassy Developments Limited through the conversion of unlisted warrants into equity shares. Bellanza Developers Private Limited is a promoter group entity. Of the total investment, Bellanza Developers has infused ₹415 crore and NCL SG Holdings has deployed ₹645 crore into the company. 'The ₹10.6 billion raised through warrant conversions by the promoter group and another key shareholder reflects the continued trust in EDL's vision and growth prospects. This infusion of capital strengthens our balance sheet and our ability to scale operations while creating sustained value for all stakeholders. We look forward to capitalising on India's real estate growth story,' said Sachin Shah, CEO and Executive Director, Embassy Developments Limited. The infusion was done via conversion of 12.7 crore equity shares, originally issued on 21 May 2024, under a preferential allotment approved by shareholders. The shares were allotted at ₹111.51 apiece upon receipt of the remaining 75 per cent of the issue price. Post allotment, Embassy Developments' total paid-up equity capital is ₹269.9 crore, comprising ₹134.9 crore in equity shares of face value ₹2 each. The revised shareholding of the promoter group stands at 42.96 per cent and Blackstone Real Estate Fund at 10.93 per cent. The company has 8.9 crore outstanding warrants pending conversion up to November 2025. Specialising in the construction and development of residential, commercial and Special Economic Zone (SEZ) projects, Embassy Developments focuses on Bengaluru, the Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR), with additional presence in Chennai, Jodhpur, Vadodara, Vizag and Indore. Embassy Developments further said the equity participation underlines the strong and continued confidence shown by the promoter group and another key shareholder in the growth roadmap of EDL, with its substantial pipeline of residential and commercial projects across the country. The company stated that the funds will support upcoming project launches totalling 7.7 million sq ft, valued at over ₹15,000 crore.
Time of India
23-05-2025
- Business
- Time of India
Blackstone, Embassy entities Infuse Rs 1,060 cr into Embassy Developments
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel An institutional investor backed by global alternative asset manager Blackstone Group, along with the promoter group of Embassy Developments , has infused around Rs 1,060 crore into the company through the conversion of unlisted warrants into equity equity was infused following the conversion of around 12.7 crore warrants originally issued in May 2024 under a preferential allotment approved by Embassy Developments shareholders, strengthening the developer's capital base and reaffirming long-term confidence in its growth shares were allotted at Rs 111.51 a piece upon receipt of the remaining 75% of the issue price, and rank pari passu with existing equity allottees include Bellanza Developers, an entity from the Embassy promoter group, and NCL SG Holdings , a fund affiliated with Blackstone Real Estate. The transaction signals a continued commitment from both stakeholders to Embassy Developments' long-term the total investment, Bellanza Developers has infused Rs 415 crore and NCL SG Holdings has deployed Rs 645 crore into the allotment, the company's revised shareholding of the promoter group stands at 42.96% and Blackstone Real Estate Fund at 10.93%. The Company has around 8.9 crore outstanding warrants pending conversion up to November 2025.'This infusion of capital strengthens our balance sheet and our ability to scale operations while creating sustained value for all stakeholders. We look forward to capitalising on India's real estate growth story,' said Sachin Shah, CEO & ED, Embassy to him, the equity participation underlines the continued confidence shown by the promoter group and other key shareholder in the growth plans of Embassy Developments , with its substantial pipeline of residential and commercial projects across the conversion is aligned with the company's previously announced strategic initiatives, including upcoming project launches across 7.7 million sq ft, valued at over Rs 15,000 Developments, or erstwhile Indiabulls Real Estate, is engaged in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian a strategic focus on Bengaluru , the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the company also has a presence in Chennai, Jodhpur, Vadodara, Vizag, and capital infusion is expected to bolster the company's equity base and provide added financial flexibility as it pushes ahead with its development pipeline across residential and commercial segments in key urban centres. Ends
Economic Times
21-05-2025
- Business
- Economic Times
FII flows turn positive; long-term capital returning to India: Sachin Shah
"Clearly, US corporates are looking at global alternate, supply chains are getting created, and multiple countries whether it is India, Indonesia, Vietnam, South America whichever company or whichever corporates will have their own strengths, they will get their share of business, so that is a mega trend that we are going to witness over the next three, five, seven, ten years and we strongly believe that will continue," says Sachin Shah, Emkay Investment Managers. ADVERTISEMENT Now Moody's upgrade has come in. China has also decided to cut its lending rate and, of course, China and the United States are engaged in a slew of discussions with respect to the trade deal, the interim trade deal that they signed. How do you expect all of this global market action to have an impact on the India market? Sachin Shah: So, the good thing is that the trade war that we were all witnessing for the last few months, the intensity over there seems to be cooling off quite significantly from US with most of the countries, so that is a very positive thing and Indian companies obviously wherever we have a strong value proposition from each of our businesses, this is what I have mentioned a few times even earlier on this show, that wherever we have our strong value propositions whether it is your speciality chemicals, pharmaceuticals, textiles, electronics, manufacturing, engineering, quite a few other industries I do not think there is going to be any challenge over there. Clearly, US corporates are looking at global alternate, supply chains are getting created, and multiple countries whether it is India, Indonesia, Vietnam, South America whichever company or whichever corporates will have their own strengths, they will get their share of business, so that is a mega trend that we are going to witness over the next three, five, seven, ten years and we strongly believe that will continue. So, can we also say we have moved from chaos to clarity because the world is reshuffling and India definitely is standing out. The kind of cues and triggers you just mentioned, the kind of sectors that is going to benefit now, do you think among the emerging market pack India is definitely going to stand out in a couple of quarters' time frame that you just mentioned? Sachin Shah: Well, we definitely believe so and it is not that we will have a share for all the businesses, but at least there are seven or eight sectors where we believe that Indian corporates have the right to win. They have demonstrated that they have the domain expertise. They have demonstrated that they can deliver the scale for the global demand and where they also respect the intellectual property rights. So, whether it is auto ancillaries, speciality chemicals, pharmaceuticals, electronics manufacturing, engineering and within engineering I would say hardcore engineering, power equipments, textiles, so these are few sectors where we believe that Indian corporates, Indian companies have clearly demonstrated the right to win and over the next two-three quarters, we are really standing out in terms of our incremental market share that we are going to gain over the next few years. So, you are suggesting that there is going to be an incremental market share that India is going to corner with respect to the other emerging markets, but is that the view that you hold for FIIs as well and, of course, now that at the moment the India-Pakistan skirmishes, well both sides have agreed for an understanding, a larger understanding, minister Piyush Goyal is also in the United States, but what could be the next big trigger for the Indian markets to sort of have a disproportionate movement. Sachin Shah: So, as far as foreign institutional investors are concerned, the trend is clearly reversed there. Since the month of March, April, and even May we are seeing significant amount of positive flows on a continuous basis and even if you see some of the hardcore data, the selling started sometime in I would say September 24 or October 24, they sold almost worth two lakh plus crores from October till February or March and that was the number that they had bought from January 24 to almost September 24th. ADVERTISEMENT What I am trying to say is that the hot money which had come in probably went out and it got more or less settled and now we are seeing very decent amount of, very-very stable long-term money which is we are getting. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-05-2025
- Business
- Time of India
FII flows turn positive; long-term capital returning to India: Sachin Shah
"Clearly, US corporates are looking at global alternate, supply chains are getting created, and multiple countries whether it is India, Indonesia, Vietnam, South America whichever company or whichever corporates will have their own strengths, they will get their share of business, so that is a mega trend that we are going to witness over the next three, five, seven, ten years and we strongly believe that will continue," says Sachin Shah , Emkay Investment Managers . Now Moody's upgrade has come in. China has also decided to cut its lending rate and, of course, China and the United States are engaged in a slew of discussions with respect to the trade deal, the interim trade deal that they signed. How do you expect all of this global market action to have an impact on the India market? Sachin Shah: So, the good thing is that the trade war that we were all witnessing for the last few months, the intensity over there seems to be cooling off quite significantly from US with most of the countries, so that is a very positive thing and Indian companies obviously wherever we have a strong value proposition from each of our businesses, this is what I have mentioned a few times even earlier on this show, that wherever we have our strong value propositions whether it is your speciality chemicals, pharmaceuticals, textiles, electronics, manufacturing, engineering, quite a few other industries I do not think there is going to be any challenge over there. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In National Capital Region - Watch What Happens Happy in Shape Undo Clearly, US corporates are looking at global alternate, supply chains are getting created, and multiple countries whether it is India, Indonesia, Vietnam, South America whichever company or whichever corporates will have their own strengths, they will get their share of business, so that is a mega trend that we are going to witness over the next three, five, seven, ten years and we strongly believe that will continue. So, can we also say we have moved from chaos to clarity because the world is reshuffling and India definitely is standing out. The kind of cues and triggers you just mentioned, the kind of sectors that is going to benefit now, do you think among the emerging market pack India is definitely going to stand out in a couple of quarters' time frame that you just mentioned? Sachin Shah: Well, we definitely believe so and it is not that we will have a share for all the businesses, but at least there are seven or eight sectors where we believe that Indian corporates have the right to win. They have demonstrated that they have the domain expertise. They have demonstrated that they can deliver the scale for the global demand and where they also respect the intellectual property rights. So, whether it is auto ancillaries, speciality chemicals, pharmaceuticals, electronics manufacturing, engineering and within engineering I would say hardcore engineering, power equipments, textiles, so these are few sectors where we believe that Indian corporates, Indian companies have clearly demonstrated the right to win and over the next two-three quarters, we are really standing out in terms of our incremental market share that we are going to gain over the next few years. Live Events So, you are suggesting that there is going to be an incremental market share that India is going to corner with respect to the other emerging markets , but is that the view that you hold for FIIs as well and, of course, now that at the moment the India-Pakistan skirmishes, well both sides have agreed for an understanding, a larger understanding, minister Piyush Goyal is also in the United States, but what could be the next big trigger for the Indian markets to sort of have a disproportionate movement. Sachin Shah: So, as far as foreign institutional investors are concerned, the trend is clearly reversed there. Since the month of March, April, and even May we are seeing significant amount of positive flows on a continuous basis and even if you see some of the hardcore data, the selling started sometime in I would say September 24 or October 24, they sold almost worth two lakh plus crores from October till February or March and that was the number that they had bought from January 24 to almost September 24th. What I am trying to say is that the hot money which had come in probably went out and it got more or less settled and now we are seeing very decent amount of, very-very stable long-term money which is we are getting.
Associated Press
08-05-2025
- Business
- Associated Press
Brookfield Wealth Solutions Announces First Quarter Results and Declares Quarterly Distribution
BROOKFIELD, NEWS, May 08, 2025 (GLOBE NEWSWIRE) -- Brookfield Wealth Solutions (NYSE, TSX: BNT) today announced financial results for the three months ended March 31, 2025. Sachin Shah, CEO of Brookfield Wealth Solutions, stated, 'Our business is off to a strong start in 2025. We have entered the U.K. market and begun offering new products that expand our asset base while maintaining our fundamental objective of generating high-quality earnings and durable risk-adjusted returns within our business.' 1. See Non-GAAP and Performance Measures on page 6 and a reconciliation from net income on page 5. First Quarter Highlights Operating Update We recognized $437 million of distributable operating earnings ('DOE') for the three months ended March 31, 2025, compared to $279 million in the prior year period. The increase in earnings for the current period reflects contributions from AEL, which we acquired in May 2024, as well as higher net investment income resulting from progress made in repositioning assets into higher yielding investment strategies. We recorded a net loss of $282 million for the three months ended March 31, 2025, compared to net income of $337 million in the prior year period. The net loss in the current period is primarily the result of unrealized movements on reserves due to interest rate and equity market movements, which more than offset our strong operating performance. Net income in the prior year period resulted from our DOE and favorable mark-to-market on derivatives. Today, we are in a strong liquidity position, with approximately $25 billion of cash and short-term liquid investments across our investment portfolios, and another $22 billion of long-term liquid investments. These liquid assets position us well to mitigate current market volatility and support the ongoing rotation of our portfolio into higher yielding investment strategies. Regular Distribution Declaration The Board declared a quarterly return of capital of $0.09 per class A share and class B share payable on June 30, 2025 to shareholders of record as at the close of business on June 13, 2025. This distribution is identical in amount per share and has the same payment date as the quarterly distribution announced today by Brookfield Corporation on the Brookfield class A shares. Brookfield Corporation Operating Results An investment in class A shares of our company is intended to be, as nearly as practicable, functionally and economically, equivalent to an investment in the Brookfield class A shares. A summary of Brookfield Corporation's first quarter operating results is provided below: 1. Consolidated basis – includes amounts attributable to non-controlling interests. 2. Excludes amounts attributable to non-controlling interests. 3. See Reconciliation of Net Income to Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 8 of Brookfield Corporation's press release dated May 8, 2025. Brookfield Corporation net income above is presented under IFRS. Given the economic equivalence, we expect that the market price of the class A shares of our company will be impacted significantly by the market price of the Brookfield class A shares and the business performance of Brookfield as a whole. In addition to carefully considering the disclosure made in this news release in its entirety, shareholders are strongly encouraged to carefully review Brookfield Corporation's letter to shareholders, supplemental information and its other continuous disclosure filings. Investors, analysts and other interested parties can access Brookfield Corporation's disclosure on its website under the Reports & Filings section at CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF OPERATIONS 1. Class A shares receive distributions at the same amount per share as the cash dividends paid on each Brookfield class A share. SUMMARIZED FINANCIAL RESULTS RECONCILIATION OF NET INCOME TO DISTRIBUTABLE OPERATING EARNINGS 1. Non-GAAP measure – see Non-GAAP and Performance Measures on page 6. Additional Information The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter ended March 31, 2025, which have been prepared using generally accepted accounting principles in the United States of America ('US GAAP' or 'GAAP'). Brookfield Wealth Solutions' Board of Directors have reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release. Information on our distributions can be found on our website under Stock & Distributions/Distribution History. Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, please visit our website at or contact: Non-GAAP and Performance Measures This news release and accompanying financial statements are based on US GAAP, unless otherwise noted. We make reference to Distributable operating earnings. We define distributable operating earnings as net income after applicable taxes excluding the impact of depreciation and amortization, deferred income taxes related to basis and other changes, and breakage and transaction costs, as well as certain investment and insurance reserve gains and losses, including gains and losses related to asset and liability matching strategies, non-operating adjustments related to changes in cash flow assumptions for future policy benefits, and change in market risk benefits, and is inclusive of returns on equity invested in certain variable interest entities and our share of adjusted earnings from our investments in certain associates. Distributable operating earnings is a measure of operating performance. We use distributable operating earnings to assess our operating results. We provide additional information on key terms and non-GAAP measures in our filings available at Notice to Readers Brookfield Wealth Solutions Ltd. ('Brookfield Wealth Solutions' or 'our' or 'we') is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement. This news release contains 'forward-looking information' within the meaning of Canadian provincial securities laws, 'forward-looking statements' within the meaning of Canadian provincial securities laws, 'forward-looking statements' within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, 'forward-looking statements'). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management's current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions, Brookfield Corporation and their respective subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. Particularly, statements regarding international expansion plans and future capital markets initiatives, including statements relating to the redeployment of capital into higher yielding investments constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as 'expects,' 'anticipates,' 'plans,' 'believes,' 'estimates,' 'seeks,' 'intends,' 'targets,' 'projects,' 'foresees,' 'forecasts' or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' In particular, the forward-looking statements contained in this news release include statements referring to the growth of our business, international expansion, investment opportunities and expected future deployment of capital and financial earnings. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or Brookfield Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, including but not limited to, earthquakes, hurricanes, epidemics and pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States. We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise. Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).
