hBits launches Rs 288 million asset in Bengaluru

13 Sep 2024 CW Team

hBits has launched its second commercial grade A asset in Vaswani Centropolis, Bengaluru worth Rs 288 million. The asset spans across a leasable area of 12,776 sq ft and has been leased for a period of six years. The rental inflow and purchase price of the asset offers an entry yield of 8.75% and an expected internal rate of return of 15.12%. It aims to offer a five-year average rental yield of 8.55%. The company marked its first closure in Bengaluru by acquiring a grade A commercial asset in the same building, Vaswani Centropolis worth Rs 54.32 crore. With this new asset, the company has 15 properties in its portfolio, with an asset under management (AUM) of approximately Rs 4 billion. The new property marks hBits鈥� fourth asset launch this year, with previous properties in Bengaluru and Pune. Recently, the company applied for a small and medium REITs (SM REITs) license with the securities and exchange board of India (SEBI).

Infrastructure Transport

20 Jun 2025

Dassault To Build Falcon Jets In India With Reliance

Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..

Infrastructure Urban

20 Jun 2025

INDEA Lays Foundation for India鈥檚 First Auto Design School

The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..

Infrastructure Transport

20 Jun 2025

Karnataka Launches Global Innovation Hub at Airport City

The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..