[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
Leading realty firm Embassy group is exploring various options to monetise its warehousing and
industrial parks business at an enterprise value of Rs 1,700-2,000 crore, sources said.
Bengaluru-based Embassy group, which had in 2015 formed a joint venture with private equity
firm Warburg Pincus to build industrial parks, is in talks with few potential buyers to monetise
completed and under-construction assets of the JV.
Embassy Industrial Parks, the joint venture firm, is developing warehousing projects at Chakan
in Pune, Sriperumbudur and Hosur in Tamil Nadu; Farrukhnagar and Bilaspur in Delhi NCR;
and Kothur in Hyderabad. The total portfolio of the JV firm is around 15-16 million sq ft, of
which 3-4 million sq ft is operational. Warburg Pincus has 70 per cent stake while Embassy
group has 30 per cent shareholding in the JV.
According to sources, Embassy group is evaluating various options to monetise Embassy
Industrial Parks. It could be the outright sale of the company or some new fund might come
in as a new investor, they said. An Embassy group spokesperson declined to comment.
Sources said the enterprise value of the deal could be between Rs 1,700 crore and
Rs 2,000 crore.
Read more at: https://www.moneycontrol.com/news/business/embassy-group-looking-to-monetise-warehousing-business-at-enterprise-value-of-upto-rs-2000cr-5684521.html
Have a nice day