Realty sector and infrastructure firms like GMR and HCC are venturing into the education sector, aiming to capitalize on the growing education industry in India.
Hindustan Construction Company (HCC) announces it will divest 74% of its stake in various projects, focusing on the 247Park project in Mumbai.
Hindustan Construction Co. halts township projects in Pune, Nasik, and Thane due to market turmoil, focusing on government and PPP projects instead.
HCC Real Estate Ltd plans major investments in land for townships and launches an 80-acre slum rehabilitation scheme, and constructs an IT park.
Private Equity deals in Indian real estate and infrastructure reached $2.32 billion in H1 2008, a slight increase but with smaller deal sizes. Sluggish market conditions and funding challenges led developers to seek PE funding, with Red Fort Capital and others closing deals.
HCC restructures by forming subsidiaries for real estate and infrastructure, aiming for distinct identities to tap into high-growth sectors effectively.