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 in India is cyclical with demand and prices in the sector moving in tandem with economic booms and slowdowns, which results in volatility in the cash flows of developers. During periods of recession, there is piling up of inventory on account of low demand, leading to significant price drops and reduced cash flows. These factors contribute to liquidity stress for real estate developers, posing challenges for the completion of on-going projects.

Primarily, the company depends on advances received from its customers and external borrowings to fund its operations. With the strategy to reduce the total debt to zero, EMBDL's future operations would depend largely on the advances received from the customers. Any unexpected deviations from the customer receivables would result in delay in company's commitments and have a contagion effect on its financials


The issuer has made timely interest payments.

Sameer Khanna, Director

Equinox (formerly Indiabulls) is a well-diversified group and has emerged as one of the leading business conglomerates in the country with business interests across sectors like consumer finance, real estate, infrastructure & construction leasing, pharmaceuticals etc. The operations of the company are professionally managed by competent personnel.

The parent through acquisitions and government allotments has created a sizable land bank of 3,232 acres spread across Mumbai, NCR, Chennai. This land bank is sufficient for proposed development over the next 5-7 years.  With its focus on core markets of Mumbai and NCR, this portion of land bank would tend to complement the current business strategy. 

Tapir Constructions Limited (TCL) is involved in developing a project – ‘One Indiabulls’ located at Pokhran Road, Thane. 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. The project is close to the proposed Metro Station and major arterial roads .


Security Name: 13.50% Tapir Construction Limited 18 Jan 2027

ISIN:

INE00DJ07045

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Tapir Construction Limited

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Indiabulls unit Tapir emerges highest bidder for Voltas land in Thane

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