The growing margins suggest that the belt tightening is paying off. For example, the margins of Pantaloon Retail, the country's largest listed retailer, have gone up from 9.2 per cent in June last year to 10.6 per cent in June 2009.Others such as the Raheja-owned Shoppers Stop and Tata Group's Trent, Reliance Retail and Spencer's Retail aren't far behind.
Sales grew only 5-10% last year on weak consumer sentiments
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
Q3 will be better than the second, say bankers and builders.
Last week, banks were asked to factor in the loans extended to a group -- comprising subsidiaries, special purpose vehicles and related parties of a real estate company -- 'as a matter of prudence'.
TV moghuls are ramping up the home shopping segment as it sees 35 per cent annual growth. While shopping on TV has been available for years now, a majority of Indian shoppers still prefer to touch and feel before buying a product.
According to sources close to the development, the ministry feels that the National Textile Corporation (NTC), which has put the land on sale, will get better prices than the bid put in by Lodha Developers. The company, which had initially placed a bid of Rs 657.90 crore (Rs 6.57 billion), later hiked it to Rs 710 crore (Rs 7.1 billion), following a request from NTC.
Globally, Perfetti Van Melle ranks third in the confectionery sweepstakes after Mars and Cadbury. But in India, it leads the pack with a 25 per cent share of the Rs 3,000-crore (Rs 30 billion) per annum market
Prices of agricultural commodities have risen 23 per cent so far this month.
Last year, the group held discussions with potential investors and started putting in place a management team to run the fund. Knight Frank India executive director Keku Cola was expected to head the new fund, but he has quit and joined the Shapoorji Pallonji group. According to a report by global research firm Preqin, private equity real estate funds are still struggling to raise capital in the current economic environment.
After Pune, the swine flu scare is affecting footfalls and sales in malls and retail stores in Mumbai. Sales in these places have fallen by up to half in the past two days.
Fraught four-month-long negotiation between Tata Motors-owned Jaguar Land Rover and the United Kingdom government over a loan guarantee ended in an anti-climax on Tuesday, with the Mumbai-headquartered automobile maker announcing that it has secured loans from commercial banks and would not need any support from the UK government.
Even as swine flu is threatening the hospitality industry, travellers are taking advantage of the Independence Day holiday to pack their bags for a weekend trip. Most hotels at travel destinations, domestic and international, are packed for the weekend.
With the rural segment accounting for 60 per cent of sales for fast moving consumer goods companies and 40-50 per cent for consumer durables manufacturers, the government's admission of sowing having fallen almost 20 per cent due to the weak monsoon, and declaring 161 districts as drought-prone, has put these sectors under a cloud.
Shopping malls, multiplexes and top retailers in Pune are seeing as much as a 70 per cent drop in business owing to the swine flu outbreak in the city.
After a long hiatus, home sales are finally back on track. Sales of major real estate developers have more than trebled in the June quarter compared to the preceding three months, amid growing expectations that the good times will continue to roll.
This upturn comes soon after an earlier stalling of demand. In February, DLF, the country's largest property developer, said it had stalled construction on 16 million sq ft of commercial space (retail and office) due to lack of demand. So, too, with other developers like Unitech, Parsvnath and Raheja, who either stalled or slowed the construction of their commercial properties because of a demand-supply mismatch.
Tuesday's move, announced at a press conference in the capital, comes a little over a month after an accident killed six workers at a metro construction site on July 12. The accident, the latest in a series over the past year, raised public outrage and prompted Delhi Metro Rail Corporation's widely respected chief E Sreedharan to submit his resignation, which the state government declined to accept.
Property developers plan more launches in the sub-Rs 20 lakh category of homes, after Monday's Budget concession.
Want to appoint CFO, advisory board and governance committee.
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