Casper Realty Wins Bid for Prime Plots in Mohali

Key Takeaways from Casper Realty Bid Win 

• The subsidiary of The Phoenix Mills Limited, Casper Realty Private Limited has won the auction hands down with two plots of land in Punjab's Mohali which spreads across an area of approximately 13.14 acres.
• The plots were up for auction by the Greater Mohali Development Authority (GMADA) and Casper Realty collectively bid for roughly Rs. 891 crores for them.
• Casper Realty will pay the total amount as and when demanded by GMADA.
• The plots are to be developed as a high street retail space along with a mixed-use project on the newly acquired land, which is at present handed over for commercial purposes only.

Casper Realty won the auction with a combined bid of approximately Rs. 891 crores. The company will pay the full amount by the deadline for payment prescribed by GMADA. Both these plots are allotted for commercial purposes, and the Casper group intends to develop a high street retail with some mixed-use projects on this land.

“We remain optimistic about our future mall launches and we continue to execute our previously stated strategy of retail-led mixed-use portfolio expansion in market-leading destinations in cities of India, which present the opportunity for us to create such mega consumption hubs”, Shishir Shrivastava, Managing Director at The Phoenix Mills Limited said.

The plots are located in an excellent connectivity area, between Chandigarh and Sahibzada Ajit Singh Nagar (Mohali). This area will meet the growing demand for more retail and entertainment-related spaces in the Chandigarh Metropolitan Region, including the Chandigarh city and surrounding cities of Panchkula, Mohali, and Zirakpur. Being situated at the crossroads of Punjab, Haryana, and Delhi, the CMR region has provided an ideal location for real estate growth.

About Phoenix Mills Limited 

Phoenix Mills Limited (PML) is the leading owner, operator, and developer of retail-led mixed-use destinations across developments in retail, hospitality, commercial offices, and residential asset classes. It has an operating retail portfolio of over 11 million square feet across eight key cities in India and is currently developing approximately 4 million square feet of retail space through three new malls as well as densifying its existing destinations. It also includes Grade A offices, which have operational space of more than 2 million sq. ft and over 5 million sq. ft under development. PML has successfully executed three landmark residential projects across the country and presently has one project in Kolkata. The company owns and operates two hotels: The St. Regis in Mumbai and Courtyard by Marriott in Agra and plans to develop a Grand Hyatt hotel in Whitefield, Bengaluru. PML diversified into food and beverage, which operates 39 outlets across its malls with 10 diversified offerings.

Key Takeaways from the Announcement

• Tata Consultancy Services retains its top spot in Kantar BrandZ's Most Valuable Indian Brands 2024 with a 16% YoY growth in brand value.
• TCS’ brand value increased from $42,969 million in 2023 to $49,657 million in 2024, with a gain of $6,688 million. 
• TCS’ success is attributed to its innovation, sustainability efforts, and investments in AI and digital transformation.

As per a stock exchange filing, the company made a staggering 16% growth in brand value in the financial year 2024. The brand value of TCS grew from $42,969 million in 2023 to $49,657 million in 2024, with a gain of $6,688 million. 

This is the third consecutive year that TCS has achieved this distinction, showcasing its continued focus on innovation, sustainability, and global presence. Kantar, a leading marketing data and analytics company, evaluated the rankings based on financial data, consumer insights, and market trends.

Deepender Rana, Executive Managing Director - South Asia, Insights Division, Kantar, commented, “Tata Consultancy Services retains its crown as India’s most valuable brand for the third consecutive year, with a brand value of $49,657 million—an increase of 16% over last year. The company’s growth has come on the back of its ongoing investment in innovation and technology, particularly in artificial intelligence (AI) and digital transformation services. TCS has also expanded its presence across tradeshows, and global business summits, entered strategic partnerships with brands like Jaguar TCS Racing in the ABB FIA Formula E World Championship and sponsored multiple marathons over the last few years.”

Abhinav Kumar, Chief Marketing Officer of TCS, expressed pride in being recognised as India’s top brand and said, “While we have made significant strides to build our brand globally, being recognized as India’s most valuable brand is very special to us. Earlier this year, we were recognized among the world’s 50 most valuable brands by Kantar BrandZ and this latest addition further strengthens our brand reputation. Being the market leader in India, we have been very privileged to have built Page 2 of 2 Confidential much of the core technology ecosystem of the country, from the corporate sector to citizen services and digital inclusion initiatives. As we celebrate 20 years of our IPO this year, it is gratifying to be adjudged as the country’s top brand, and I thank every TCSer for their relentless service to the brand, our company, and our clients.”

About TATA Consultancy Services Limited

Tata Consultancy Services (TCS) is the leading company of the Tata group. It is an IT services, consulting, and business solutions provider that has been working with many of the world’s biggest companies for over 50 years, helping them transform their businesses. TCS offers a wide range of services, combining business, technology, and engineering solutions, with a focus on consulting and smart technology.

Key Takeaways from the Contract Win

• Tara Chand Infra has won new contracts to provide cranes with capacities ranging from 150 MT to 500 MT for projects in the cement, steel, thermal power, and renewable energy sectors.
• The projects will be carried out in Gujarat, Karnataka, Madhya Pradesh, and Jharkhand with contracts ranging from 6 to 12 months, extendable based on site needs.
• The total order value is ₹1,159.60 lakhs, to be executed in FY 2024-25.

Under these contracts, Tara Chand will supply cranes with lifting capacities between 150 MT and 500 MT for project durations that will range from six to twelve months, with potential extensions based on site requirements if needed. The total value of these contracts is ₹1,159.60 lakhs, to be executed in FY2024-25.

As stated in a stock exchange filing, the new contracts, with order values broken down by sector, are at ₹473.20 lakhs in the cement sector, ₹153.00 lakhs in the steel sector, ₹239.40 lakhs in thermal power, and ₹294.00 lakhs in renewable energy. 

These orders fall under Segment A of the company, which is construction equipment rental, and which posted a Q1FY25 EBITDA of 51%. 

About Tara Chand InfraLogistic Solutions Limited

Tara Chand Infralogistic Solutions Limited is a provider of cargo handling and logistics services, founded in 2012. It is an IBA-approved carrier, and they have an IATA certification for handling air cargo logistics. Tara Chand Infralogistic Solutions Ltd. encompasses three business verticals, including warehousing and multi-modal transportation, construction equipment rentals, and turnkey infrastructure project execution. These distinct services offer the company a diverse set of industries to operate in providing logistics and project overall solutions.

Key Takeaways from the Contract Win

• EMS Limited has secured a ₹681.49 crore contract for pollution abatement and rejuvenation of River Adi Ganga in Kolkata.
• The project, awarded by Kolkata Municipal Corporation, will include a 36-month timeline for design, build, testing, and commissioning.
• EMS Limited holds a 74% share in the project, with the remaining 26% held by its JV partner.

The contract involves pollution abatement work for the rejuvenation of the River Adi Ganga in Kolkata, West Bengal.

In the filing to the stock exchange, it stated that the project will be delivered in 36 months and will have a 3-month trial period, before a 15-year O&M (operations and maintenance) schedule. 

EMS Limited retains a 74% share in the project, while the balance will be held by a JV partner.

About EMS Limited 

Founded in 1998, EMS Limited is based in Delhi and operates as an EPC company, providing complete solutions to water and wastewater management needs. We offer and provide end-to-end services through engineering, design, construction, offerings, installation and fixed water treatment, wastewater treatment, and solid waste treatment.