The Mumbai-based Godrej Properties, the real estate development arm of the Godrej Group, announced on Friday, Feb 10, the launch of its first residential project, Godrej Palm Grove, in Chennai.

Sahara India, US-based Turner Construction Company and Acropolis Capital Group have together formed a construction company that plans to build realty projects undertaken by the Sahara India Group worth $2.5 billion over the next five years in India, the companies said on Thursday. The group has plans to build projects worth $25 billion over the next 20 years.

Hindustan Construction Company Ltd plans to sell part of its real estate and infrastructure units, as well as aggressively chase outstanding payments with state-run companies to reduce its debt, a senior executive said.

The Supreme Court on Friday, Jan 20, gave two Sahara group companies three weeks to choose between two courses to secure investments made by the public in their controversial Optionally Fully Convertible Debentures (OFCD) scheme.

IL&FS Investment Managers, India’s only listed private equity fund, has acquired 9.4% shareholding in an Indiabulls’ firm that is developing the 8.3-acre Bharat Mills at Worli in south central Mumbai.