Mumbai: Tata Sons buys stake of financial investor actis In Tril IT4, owner of a commercial building of 8 lakh sq ft in Mumbai. 26% stake in Actis . In Tril IT4 The wholly owned arm of Tata Sons was bought by Tata Realty and infrastructure.
Tata Realty and Actis did not disclose the size of the “cash deal”, but said the exit provided “excellent” returns to the London-based private equity fund. Prior to the transaction, Tata Realty held a 74% stake in Trill IT4 (formerly Albrecht Builder), which was set up in December 2014. In FY21, Tata Realty’s profit in Trill IT 4 stood at Rs 17 crore.
Tata Realty and Actis, however, continue to be partners in two other commercial properties in India – Intellian Park in Gurugram and Intelian Park in Navi Mumbai. Actis holds a 26% stake in each office building, with Tata Realty holding the balance.
In the last financial year, Tata Realty had received capital of Rs 1,200 crore from Tata Sons. The Sanjay Dutt-led realty and infrastructure company reported a loss of Rs 96 crore in 2020-21 on a turnover of Rs 125 crore. Established on March 2, 2007, Tata Realty’s assets stood at Rs 6,679 crore in the previous financial year, while liabilities stood at Rs 3,634 crore.
Tril IT4 is located in Malad, a suburb of Mumbai and is leased to technology and BFSI (Banking, Financial Services and Insurance) tenants. Interestingly, despite the impact of the pandemic, IT4 “sees not only new tenants making long-term commitments to the property, but existing tenants extending their leases, with a healthy and stable occupancy at around 90%”. “, said Tata Realty.
Tata Realty and Actis did not disclose the size of the “cash deal”, but said the exit provided “excellent” returns to the London-based private equity fund. Prior to the transaction, Tata Realty held a 74% stake in Trill IT4 (formerly Albrecht Builder), which was set up in December 2014. In FY21, Tata Realty’s profit in Trill IT 4 stood at Rs 17 crore.
Tata Realty and Actis, however, continue to be partners in two other commercial properties in India – Intellian Park in Gurugram and Intelian Park in Navi Mumbai. Actis holds a 26% stake in each office building, with Tata Realty holding the balance.
In the last financial year, Tata Realty had received capital of Rs 1,200 crore from Tata Sons. The Sanjay Dutt-led realty and infrastructure company reported a loss of Rs 96 crore in 2020-21 on a turnover of Rs 125 crore. Established on March 2, 2007, Tata Realty’s assets stood at Rs 6,679 crore in the previous financial year, while liabilities stood at Rs 3,634 crore.
Tril IT4 is located in Malad, a suburb of Mumbai and is leased to technology and BFSI (Banking, Financial Services and Insurance) tenants. Interestingly, despite the impact of the pandemic, IT4 “sees not only new tenants making long-term commitments to the property, but existing tenants extending their leases, with a healthy and stable occupancy at around 90%”. “, said Tata Realty.
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