Small manufacturing companies are increasingly eyeing the growing real estate market as it turns out to be a goldmine for property developers in the country.
The Raheja-owned Shoppers Stop, which was so far an up market department chain, is becoming a full service retailer soon. It is increasing its stake in the promoter group's hypermarket chain Hypercity from 19 per cent to 51 per cent.
Big retailers say the events work, but others aren't sure.
According to estimates, about 7,000 new luxury apartments are expected to be available in the city in within a year, for over Rs 4.7 crore (Rs 47 million) each.
Following the success of the Rs 4,050-crore Wadala land deal in central Mumbai, at least three government agencies are planning to sell plots worth at least Rs 60 billion (Rs 6,000 crore) in the next two months.
The deterioration in the market mood has directly impacted fund-raising plans of real estate developers, many of whom have either delayed their initial public offers or have decided to go slow.
Apartments likely to be in the Rs 5-10 crore range each.
Reliance Retail Ltd, an arm of Mukesh Ambani's Reliance Industries Ltd, posted profit for the first time after opening its first store nearly three-and-a-half years ago, mainly aided by a tax provision of Rs 250 million (Rs 25 crore).
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart, the world's largest retailer, is also expected to open cash and carry stores in the South in the next 12-24 months.
Call it a revival of the information technology (IT) industry or increase in demand from non-IT sectors, office lease and sale transactions have picked up by 10 to 15 per cent in the past quarter.
Says Bhushan-Essel combine, the highest bidder, has withdrawn but latter denies having done so.
Pantaloon Retail Ltd, the country's largest retail company, and Future Value Retail Ltd, recently carved out from Pantaloon as a 100 per cent subsidiary, plan to issue non-convertible debentures worth Rs 750 crore in the next three-four months, according to sources.
Almost one and a half year after tying up with Reliance Brands, a unit of Mukesh Ambani's Reliance Industries, Diesel opened its first store in Mumbai in April this year.
For developers who came out of a prolonged slowdown of 2008-09, the fund raising spree could be dangerous, say consultants.
Insurance and investment are two different needs. Then, there are Ulip pension plans with no sum assured. No wonder, there is confusion.
Delay your asset reallocation, take a call on debt after a few months.
Faced with stiff competition from rivals and in a hurry to draw footfalls, hypermarkets are indulging in intense price war.
With the financial year coming to an end, one needs to start proper planning for the new one.
Go for short-term debt funds and fixed deposits, delay home or auto loans.
Three large property deals have already been finalised this year in Mumbai.
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