Because of oversupply and rising vacancy levels in cities such as Delhi, Mumbai, Bangalore, among others, rentals are expected to remain stagnant in the next six months or see a further fall of 10-15 per cent.
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.
The move is aimed at improving margins.
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'.
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.
Prices of agricultural commodities have risen 23 per cent so far this month.
One indication of this was the fact that many large bond buyers stayed away from the Rs 12,000 crore auction conducted on August 7.
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.
Income from distribution of third-party products such as insurance policies and mutual fund schemes is already under pressure because of the unfavourable economic climate.
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.
Banks' net interest margins under pressure due to moderate income from advances.
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.
Banks have come to realise that recession or no recession, education loans are a low-risk business.
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