After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
The company plans to raise Rs 750 crore; other realtors may follow.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Rush to offload bad loans indicates a revival in asset-sale market
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Chairman Anand Mahindra spoke to Business Standard on affordable housing.
The company is not holding plans for clarity on policy.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore (Rs 100-110 billion) through the sale of non-core assets and improved cash flows.
Oberoi Relaty expect 20-25 per cent premium for tis residential project.
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
Move to improve transparency but make liquidity more difficult to come by
Local traders are evaluating other options rather in FDI.
The store launches same-day delivery for its site, though analysts say others have eroded its headstart in the brick and mortar format.
Consultants said the fact that Oberoi had no debt on its books and Kalpataru had low debt helped the two in the slow realty market.
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The land parcel is located in South Mumbai's Tardeo neighbourhood and has a total area of 4,300 square metres (46,268 sq ft).
The Sahara group's problems continue, with rating agency CARE cutting its 'BBB' ranking for Sahara Hospitality Ltd's (SHL) long-term bank facility to 'BBB-', due to sub-optimal financial and operational performance.
E-commerce model appears to be the best bet available to US retail giants at this point to tap the Indian market.
Currently, the West Asian banking group has three branches - in Mumbai, Hyderabad and Kochi.
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