Textile major Welspun has decided to take up part ownership in slum rehabilitation projects financed by Dewan Housing Finance (DHFL) and is negotiating with local builders developing such projects. DHFL had lent about ₹5,000 crore to some real estate firms for a few slum rehabilitation projects. The move will boost the creditworthiness of the projects and push the proceeds for DHFL, which is trying to sell loans. Improvement in the loan account would also ease a major drag on DHFL‘s move to sell a stake to raise cash that it badly needs to meet upcoming loan repayments and securitization payouts. After the deal, the existing agreement between DHFL - and any other lender for that matter — and the builders would be revised to include Welspun as a party, giving more comfort to the lender. The housing finance company is battling a cash crunch as it seeks to repay its credit obligations prompting Welspun to enter into the joint development of these projects.
📅Published on:
31 May 2019
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
