While Lehman will invest Rs 500 crore and hold 75 per cent in the JV, Peninsula Land will subscribe to the remaining equity at an investment of Rs 200 crore, according to sources.
Oil India chief reveals plans of the upcoming IPO and future investment strategies.
India's retail industry, which is in the middle of rapid growth, has already scripted success stories fit to be the subject of a Bollywood film.
Private insurers are planning to launch property title insurance covers in India soon. Foreign investment is therefore likely to enter the Indian real estate market.
The largest such refiner -- Indian Oil Corporation -- has earmarked over Rs 13,500 crore (Rs 135 billion) to meet these specifications (essentially lower sulphur and aromatic hydrocarbons) in petrol and diesel at its seven refineries.
As real estate investment trusts (REITs) are set to become a reality in the country, small and medium property developers, who constitute 80 per cent of the total realty industry, can now breathe easy.
Consequently, the thousands of first- and second-level students (comparable to first year and second year) will now have to go abroad to pursue the CFA course if they still wish to do so. This would mean an additional expense of thousands of dollars besides heartburn and anxiety.
Call it an impact of the hopes of rate cuts in the country or renewed interest by foreign investors, BSE's Realty Index has outperformed big brother Sensex in the last 11 trading sessions - from the day when the Maharashtra government scrapped the Urban Land Ceiling and Regulation Act (Ulcra), which is expected to free 17,000 acres of land in Mumbai.
After Harvard Business School and Tuck School of Business, India's developing corporate scenario has now attracted France-based ESCP-EAP European School of Management to hold executive education programmes for corporates in India.
Anil Kumble would be raking in around Rs 60-75 lakh a year for endorsing Manipal Education. Viswanathan Anand would be getting anywhere between Rs 75 lakh to Rs 1 crore. Universities are choosing sports icons as brand endorsers as they not only want to portray themselves as excellent in academics, but extra-curricular performances too.
According to India Retail Report prepared by Images, discount stores are expected to grow 30-40 per cent every year. Of the total organised apparel, footwear and accessory retail market of Rs 26,400 crore (Rs 264 billion), discount retailing already accounts for Rs 11,880 crore (Rs 118.80 billion), or 45 per cent. Analysts said this segment will easily become a Rs 26,000-crore (Rs 260 billion) market in the next three years.
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
When French Retailer Carrefour enters the Rs 1,200 crore (Rs 12 billion) cash and carry segment in 2009, it would face tough competition from established players such as Germany's Metro, Bharti-Wal Mart, Reliance, Pantaloon, Wadhawan Retail and others entrants like Tesco and Costco.
Consider this. India's best paying B-school -- Indian School of Business, Hyderabad -- made offers to five international faculty members in the past three years. All of them chose to join management institutes in Singapore because of the fat pay packets. ISB pays its professors salaries that are five times more than an Indian Institute of Management professor. This means if an IIM professor's monthly salary is Rs 54,000, his counterpart at ISB would draw Rs 2,70,000 a month.
Leading five-star hotels in the country are taking their signature restaurants to cities across the country, thanks to their success and popularity. Taj Hotels and Palaces in Mumbai will open its signature Japanese restaurant, Wasabi by Morimoto, in Delhi by early next year.
In the first of its kind among property consultants, the UK-headquartered Knight Frank Group will launch a $250 million India-focused real estate fund.ICICI Prudential Mutual Fund recently launched its real estate securities fund, which is the first real estate mutual fund in India.
Corporate houses getting into music retail are turning the outlets into multi-product stores that will offer apparel and even perfumes.
While IIM-B is yet to decide on the exact quantum, the increase could be anywhere between Rs 20,000 and Rs 50,000. The institute will be revising its fee after three years. Through the revision, the institute plans to increase its earnings from the placement fee.
More than six hotel chains are looking at either building properties or expanding their presence in these states. ITC's WelcomHeritage brand, for instance, is scouting for properties in Nagaland and Kaziranga, Assam. The hotel, however, is already there in Arunachal Pradesh, Assam and Meghalaya.
The Planning Commission, according to highly-placed sources, says GDP allocation to education will increase from its from current 3.5 per cent to 5 per cent by the end of the 11th Plan. Around 19.7 per cent of the total plan resources would be set aside for education, according to the sources in the Commission.
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