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Time of India
13-05-2025
- Business
- Time of India
Regional Growth Summit at Indore, land availability in three districts to be shown
Indore : The Madhya Pradesh govt will showcase lands available in Indore, Ujjain, and Dewas to attract big investors to fulfil their infrastructure-related needs at a Regional Growth Summit scheduled on May 16 at Brilliant Convention Centre."Indore, Ujjain, and Dewas are three big cities of MP, which are adjacent and have witnessed rapid development in all sectors. Simhastha 2028 has further boosted growth in this region," principal secretary Sanjay Shukla said. There is a need for land for investors, industries, and commercial establishments in almost every sector. So, the state govt has decided to hold a regional growth summit to showcase the availability of land in Indore Ujjain and Dewas, he said."There are some central govt agencies that have developed industrial parks, and their land bank will also be showcased in the summit to attract investors," he said. Various agencies, including Indore Development Authority (IDA), Ujjain Development Authority (UDA), Dewas Development Authority (DDA), housing board, MPIDC, municipal corporations, CREDAI, tourism board, and Smart City Development Limited, have been roped in to hold the from various cities, including Indore, Gwalior, Dewas, Bhopal, Ujjain, Mandsaur, Jabalpur, and Neemuch, are expected to attend the summit, which will be inaugurated by chief minister Mohan Yadav. He will also hold one-on-one discussions with potential from showcasing land availability , the govt agencies are likely to provide information on land use and market rates, official sources said adding that following success of this summit, similar events will be held in other regions.
United News of India
12-05-2025
- Business
- United News of India
Hyatt ties up with Krivish Hospitality Pvt Ltd for Grand Hyatt at Indore
Indore, May 12 (UNI) Global hospitality major Hyatt on Monday announced the signing of a management agreement with Krivish Hospitality Private Limited for the development of Grand Hyatt Indore, marking a key milestone in its expansion into high-growth markets in India. To be developed on an 11.5-acre site, the luxury hotel will bring the Grand Hyatt brand to the vibrant city of Indore. Strategically located in one of India's fastest-growing urban centres, Grand Hyatt Indore will comprise 250 rooms and suites, five signature food and beverage outlets, and over 53,000 sq feet (approximately 5,000 sq mt) of meetings and event space. This includes a grand ballroom measuring 27,986 sq feet (2,600 sq mt). The hotel will also feature a spa, fitness centre, swimming pool, and designated entertainment areas for children, teens, and adults, aimed at catering to both business and leisure travellers. "We are delighted to announce plans for Grand Hyatt Indore, the economic centre of Madhya Pradesh," said Dhruva Rathore, Vice President - Development, India & Southwest Asia, Hyatt. "This signing underscores our commitment to strengthening Hyatt's luxury portfolio in key Indian destinations. We believe Grand Hyatt Indore, with its exceptional location and world-class amenities, will set new standards for hospitality in Central India." Indore, the largest city in Madhya Pradesh, is witnessing robust growth across sectors including finance, pharmaceuticals, chemicals, textiles, automobiles, and IT. The city's well-developed infrastructure, its proximity to major industrial zones like the Super Corridor, Dewas Industrial Corridor and Pithampur, and upgrades at Devi Ahilya Bai Holkar Airport, position it as a rising business and tourism hub. 'We are thrilled to work with Hyatt to bring the Grand Hyatt brand to Indore,' said Sanjay Shukla, Director, Krivish Hospitality Private Limited. 'Our shared vision is to deliver world-class hospitality experiences. Grand Hyatt Indore will redefine luxury in the region by offering a sophisticated blend of comfort, elegance and modernity.' Once operational, the property is expected to offer global and domestic travellers a seamless fusion of luxury accommodation and premium business amenities, further enriching Indore's hospitality landscape. UNI BDN RN
Time of India
05-05-2025
- Business
- Time of India
National Housing Bank expects RMBS firms to raise over Rs 10,000 crore in FY26
MUMBAI: The country's maiden residential mortgage-backed securities were listed on the market on Monday, and housing finance regulator NHB said it expects firms to raise over Rs 10,000 crore through the route this fiscal. The National Housing Bank-promoted RMBS Development Company ( RDCL ) listed the first-ever set of securities of Rs 1,000 crore maturing in 20 years with a coupon of 7.26 per cent payable monthly, on the NSE. NHB Managing Director and Chief Executive Sanjay Shukla said he expects up to 10 more such transactions in the fiscal year through which lenders will raise between Rs 10,000-12,000 crore. The listing done on Monday involves pass-through certificates of a pool of residential loans made by LIC Housing Finance , and the issue was fully subscribed. RDCL was set up in March by NHB to help home financiers access funding by giving up future receivables on a loan to investors. The move will also help term investors like pension funds and insurance companies will get investment opportunities. Shukla said the NHB is talking to other home financiers as well to pool-in securities for listing, and added that he expects another tranche of Rs 1,000 crore in a month. Meanwhile, Shukla said the NHB plans to raise up to Rs 60,000 crore through the bond route in FY26, up from Rs 48,000 crore done in FY25.
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Business Standard
05-05-2025
- Business
- Business Standard
India sees maiden RMBS listing; NHB expects cos to raise Rs 10K cr in FY26
The country's maiden residential mortgage-backed securities were listed on the market on Monday, and housing finance regulator NHB said it expects firms to raise over Rs 10,000 crore through the route this fiscal. The National Housing Bank-promoted RMBS Development Company (RDCL) listed the first-ever set of securities of Rs 1,000 crore maturing in 20 years with a coupon of 7.26 per cent payable monthly, on the NSE. NHB Managing Director and Chief Executive Sanjay Shukla said he expects up to 10 more such transactions in the fiscal year through which lenders will raise between Rs 10,000-12,000 crore. The listing done on Monday involves pass-through certificates of a pool of residential loans made by LIC Housing Finance, and the issue was fully subscribed. RDCL was set up in March by NHB to help home financiers access funding by giving up future receivables on a loan to investors. The move will also help term investors like pension funds and insurance companies will get investment opportunities. Shukla said the NHB is talking to other home financiers as well to pool-in securities for listing, and added that he expects another tranche of Rs 1,000 crore in a month. Meanwhile, Shukla said the NHB plans to raise up to Rs 60,000 crore through the bond route in FY26, up from Rs 48,000 crore done in FY25.
Economic Times
05-05-2025
- Business
- Economic Times
Housing finance firms to raise up to Rs 12,000 crore via RMBS in FY26
Housing finance companies are expected to raise Rs10,000-12,000 crore in the current financial year through listed residential mortgage-backed securities, structured by RMBS Development Company Ltd, a National Housing Bank-promoted entity similar to the likes of Freddie Mac and Fannie Mae. ADVERTISEMENT The fundraising will be done across seven to 10 deals in the current financial year, Sanjay Shukla, managing director of NHB said on Monday. RDCL, which structured one such deal last week, is in talks with a couple of housing finance companies. RDCL, in which NHB holds the largest stake of 39%, started operations in March 2025. In addition to structuring RMBS deals, RDCL's scope of activities involve providing liquidity support and credit enhancement, among others. Shukla was speaking at the sidelines of listing of India's first residential mortgage-backed securities (RMBS). This involved LIC Housing Finance raising Rs1,000 crore last week through pass-through certificates (PTC) maturing in 20 years at a 7.26% coupon, payable monthly. PTCs are debt instruments backed by assets like loans, which in this case was the housing loan portfolio originated by LIC of loan pools is a popular method among non-banking finance companies. But what sets this particular transaction apart is that price discovery was done through the bidding process on National Stock Exchange's electronic bidding platform.'When housing finance companies sell (loan portfolios) to banks at a pre-agreed rate, there is no price discovery. In this structure, there will be price discovery. The bidding will take place on the electronic bidding platform,' Shukla said. ADVERTISEMENT M Nagaraju, secretary – department of financial services, said that under such transactions, the cost of borrowing is expected to come down for housing finance companies, which will be passed on to the end borrower. 'Another major benefit will be to get long-term housing loans at a fixed rate.''Once PTCs are made available to retail investors, investment in this instrument is another option, where they can get monthly inflow,' Nagaraju said. ADVERTISEMENT In LIC Housing Finance's deal, the PTCs were issued through a special purpose vehicle and are rated AAA(SO) by CRISIL and Shukla also said that NHB is planning to raise Rs55,000-Rs60,000 crore through bonds in FY2026 compared with Rs48,000 crore in the previous financial year. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
