The skyline is getting crowded by the day--not only in the big cities but across the country. India is expected to double the number of branded hotel rooms from 100,000 now in just three years. Leading the pack are global hotel chains, which will add over 300 hotel properties (an estimated 55,000 rooms) in the country by 2013.
Although the broad contours of the proposed agreement with Ashok Leyland to build a range of small cars is yet to be outlined, Nissan's intention is clear counter Volkwagen's plans with Suzuki to target the compact car segment.
Kishore Biyani's Future Group is getting its act together on supplying its private labels outside the group's 1,000-odd outlets, even as Mukesh Ambani's Reliance Retail has already marched ahead by starting to sell some of its private brands to kiranawalas (independent stores).
Chennai-based Ashok Leyland Ltd, the second largest truck maker in India, has inaugurated an integrated manufacturing facility at Pantnagar, Uttarakhand. This unit, in which Rs 1,500 crore (Rs 15 billion) have been invested, is the company's seventh.
The devil is in the detail for the real estate sector. Though the Budget gave sops to home buyers in the form of tax savings and interest rate subvention, it quietly brought back service tax on lease rentals in the Finance Bill.
Rustomjee Business School, promoted by realtor Boman Irani, stands tall on S V Road in Mumbai's Dahisar area. Just a year ago, it was the site of an equally impressive Mega Mart promoted by Vishal Retail.
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
As the April 1, 2010 deadline nears for introducing Bharat Stage-IV emission-compliant vehicles, manufacturers are worried about the availability of the BS-III fuel.
Several cities see a fall of up to 36% in sales, even as Mumbai region continues to grow.
The move comes after Renault's troubled five-year partnership with Mahindra & Mahindra failed to provide the French company with a platform to become a serious player in the country.
The company had got 100,000 bookings in the first phase.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
The deal size could be in excess of Rs 2,000 crore, though this could not be verified. Sivasankaran had invested close to Rs 1,800 crore in 2007 to take a 41 per cent stake in Aamby Valley. The Sahara Group is the majority investor, with a 51 per cent stake.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
The bad news is that the company has reported an output constraint at its plants because some component vendors were unable to keep pace with the faster production cycle.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
This is the total of both, direct and indirect employment growth as a result of the expansion. Estimates put together by the Society of Indian Automobile Manufacturers (Siam) say this will be the extra added between now and 2012, to support the ever-increasing demand for new vehicles.
These companies are keen on having a presence in the segment below their current range of premium sedans, whose market is relatively smaller in size.
Apartment prices at Planet Godrej, a premium residential property developed by Godrej Properties in the tony Mahalaxmi area of Mumbai, had come down to as low as Rs 17,000 to Rs 18,000 a sq ft in the property market slowdown last year.
Kishore Biyani's Future Group has seen a turnaround in home retailing after months of decline, on the back of improved consumer sentiments and focused merchandising plans, a key group executive said.
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