A subsidiary of Indiabulls Real Estate Ltd emerged as the highest bidder for a land parcel of Voltas Ltd in Thane, near Mumbai, in an electronic auction Tapir Constructions Ltd’s bid for 236 crore was the highest for the 7.22 acres of land, for which other real estate firms such as Bengaluru-based Puravankara Projects Ltd and Mumbai-based Rustomjee Group are also in the fray.

Indiabulls unit Tapir emerges highest bidder for Voltas land in Thane

The real estate sector is volatile in nature with an inherent liquidity risk associated with it. There may be fluctuations in cash flows due to delayed realisation & changes in regulatory requirements. 


The company depends on advances received from its customers and external borrowings to fund its operations.Any unexpected deviations from the customer receivables would result in delay in company's commitments and have an effect on its financials.


The issuer has made timely interest payments.

Sameer Khanna, Director

Tapir Constructions Limited (TCL) is a fully owned subsidiary of Indiabulls Real Estate Limited (IBREL). The proposed NCD is backed by unconditional and irrevocable corporate guarantee issued by Indiabulls Real Estate Limited to the lenders of the company for the repayment obligation on the said facility.

The company through acquisitions and government allotments has created a sizeable land bank of 1856 acres spread across Mumbai, NCR, Chennai.This land bank is sufficient for proposed development over the next 5-7 years


Thane is one of the affordable micro markets in Mumbai Metropolitan Region for residential projects and is a prime location in terms of both social and civic infrastructure and the project shall benefit from such infrastructure


13.50%Tapir Construction Limited 18 Jan 2027

ISIN:

INE00DJ07045

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*All Interest Payments will be subject to TDS (Not Applicable on Government Securities and Tax Free Bonds)

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A- (CE)

IVR

Senior

Secured

ISSUER

Tapir Construction Limited

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Indiabulls unit Tapir emerges highest bidder for Voltas land in Thane

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₹100.8

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as on Oct 09, 2024

as on Oct 10, 2024

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