Developers who are launching new projects are opting for this route, as they need not pay the entire amount in one lot and owners need not forego the potential rise in value. As much as 70 per cent of land deals in the country take place through this model now, against 40-45 per cent a couple of years earlier, say property consultants.
Developers such as DLF, Unitech and Orbit are in the process of raising around Rs 5,000 crore (Rs 50 billion) in the current fiscal after they rolled over nearly Rs 9,000 crore (Rs 90 billion) debt subsequent to the Reserve Bank of India (RBI) allowing banks to restructure loans to developers.
As part of wage settlement, new recruits will be asked to shift to the New Pension Scheme.
Though the overall environment seems to be improving, Reliance Capital CEO Sam Ghosh tells Business Standard that the company is opting to be cautious.
Jamshedpur gave birth to Telco (now Tata Motors) which has just launched the low-cost Nano; Jamshedpur, according to the 35-year old Tata Housing Development Company managing director Brotin Banerjee, is what inspired Tata Housing to launch its Shubh Griha low-cost housing project in Mumbai.
Tata Housing Development Company, a unit of Tata Sons, expects to earn Rs 700 crore (Rs 7 billion) in revenue from low-cost housing in the next four years, a top company official has said.
In May last year, Peninsula forayed into the hospitality sector with a joint venture with textile maker and real estate developer, Arrow Webtex. The JV planned to build hotels in Mumbai, Pune, Nagpur, Nasik and Kolhapur in Maharashtra. There were also plans to develop hotels in Ahmedabad, Surat, Jamnagar, Mundra port, Goa and Kerala.
The government has reopened the case for convergence between the capital market and commodity futures regulator, a move that has attracted opposition from the Forward Markets Commission, which regulates the commodities futures business.
In addition, it is banking on Rs 20 billion of additional inflows from group company DLF Assets. The move follows 33 per cent growth in DLF's gross debt to Rs 163.58 billion at the end of March 2009 from Rs 122.77 billion a year ago. In addition, DLF's revenues fell 28 per cent to Rs 105.41 billion as home buyers deferred purchases and it offered discounts to lure buyers. As a result, its revenues were hit to the tune of Rs 6.88 billion.
Store 99, which sells apparels, accessories, cutlery and other items for Rs 99 or below in its 14 stores in North India, is buying merchandise from firms that went into liquidation in the US and Europe to keep prices low, said Shiraz M Javed, a director of the group.
It will also close 30 unviable stores. The company's move comes after its net loss widened to Rs 141.2 crore in the March-ended quarter, owing to mounting losses in apparels. The loss was Rs 82.2 crore in the apparel business, against a loss of Rs 4.44 crore in the corresponding quarter of the previous financial year.
Fund managers queued up to grab a pie of the new pension scheme that opens for subscription on May 1. But even before the scheme is launched, they are complaining of it being a loss-making business with the investment management fee fixed at 0.009 per cent.
In an interview with Business Standard's Shyamal Majumdar and Sidhartha, Kochhar says she is going to focus on the immediate challenge of correcting the cost structure of the country's second largest bank.
Former Axis Bank chairman and CEO PJ Nayak said managements should look at appointing outsiders only when the organisation is weak.
The Anil Dhirubhai Ambani Group-promoted Sasan Power was Rs 2,500 crore short of the roughly Rs 15,000 crore it needed to borrow for the project. Now, India Infrastructure Finance Company Ltd has agreed to lend around Rs 2,500 crore. A consortium of 12 domestic banks have already committed around Rs 12,500 crore, with State Bank of India and Power Finance Corporation leading the pack, with Rs 3,500 crore and Rs 1,800 crore respectively.
Developers remain cautious on property deals as customers expect further price cuts.
Developers remain cautious on property deals as customers expect further price cuts.
The development has elicited huge response from the country's top information technology companies. At least seven players, including Infosys, HCL, Tata Consultancy Services and its subsidiary CMC, are in the fray to develop a biometric card and the infrastructure that can handle 12 million new users annually.
Months before Satyam Computer Services founder B Ramalinga Raju made disclosures about committing fraud, authorities in the US had initiated an investigation into the company's dealings with Syria, Sudan, Cuba and Iran, identified by the US government as state sponsors of terrorism, and subject to US economic sanctions and export controls.
Loans at a discount to the benchmark prime lending rates of banks are back with a majority of the fresh loans being disbursed at sub-PLR rates.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances