"I do not think prices can come down because costs are high. We have not seen any decline in prices so far, says Adi Godrej"
When Kishore Biyani- led Future Group opened the 200,000 square feet Home Town store in Mumbai's Vikhroli early last year, it became a symbol of the group's giant-sized ambitions in home solutions.
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
Residential sales have declined 60-70 per cent in Mumbai due to high property prices and rising interest rates.
Ventures in areas such as insurance, financial services and logistics valued at Rs 4,500-5,000 crore ; company in talks with PE giants KKR and JP Morgan.
After approving 51 per cent FDI in multi-brand retail, the CoS is said to have suggested stringent conditions for foreign retailers such as minimum investment of $100 million.
The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
Brotin Banerjee, managing director and CEO of Tata Housing, shares the company's plans and strategy with Raghavendra Kamath.
MPCB said Indiabulls had started the construction work at the IT Park project in violation of consent to establish and without complying with its directions issued on January 27.
Reliance Retail, which started in 2006, runs over 1,000 stores across 86 cities.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Customers want formats which have wide assortment, international products, and so on. Basically, it is an assortment play.
Equinox plans to launch 1.4 million sq ft residential project in Bengaluru in the last quarter of calender year 2011 and a one-million housing project in Thane near Mumbai in the next one year.
Religare, promoted by billionaire brothers Malvinder and Shivinder Mohan Singh, was in talks with Piramal for six to eight months to buy nearly 80 per cent in Indiareit for around Rs 300 crore (Rs 3 billion).
Cement and steel prices have shot up sharply in the past four months, with steel prices rising 10 per cent and cement increasing 34 per cent since January.
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
Big Bazaar stores have sold 900 Nano cars since February, when Tata Motors made the arrangement.
Domestic prices up 30 per cent, global 38 per cent in just two months.
Pantaloon Retail, the country's largest retailer, is looking at increasing the prices of its apparel products up to 18 per cent, to improve margins in the coming quarters, said a top group executive.
Kishore Biyani's Future Group will hive off its electronics business into a separate company, as continued promotions and increased competition are taking a toll on its margins.
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