Mathai George George Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.
India's job market looks bullish with 44 per cent of companies planning to add more staff in the next three months as corporates gear up to bring workers back after the pandemic, a survey said on Tuesday. According to the latest ManpowerGroup Employment Outlook Survey released by ManpowerGroup India, employers report a Net Employment Outlook of 44 per cent - the most optimistic outlook in seven years. The Net Employment Outlook is derived by subtracting the percentage of employers expecting a decrease in hiring activity from the percentage of employers anticipating an increase in hiring activity.
ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
'What I love about Parsis is that we never take anything seriously.' 'Everyone's making fun of everyone.' 'So, they were like, 'Don't f*** it up, ch****!'.'
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
The registration of residential properties in Mumbai fell 42 per cent in April to 10,136 units as compared with the previous month, as fresh demand was affected due to the second wave of the COVID-19 pandemic and expiry of the reduced stamp duty period, according to Knight Frank India. The fall would have been steeper as over 90 per cent of the registrations were of the properties on which the stamp duties were already paid by the homebuyers before April 1 in order to avail lower stamp duties. From September 2020 to March 2021, the Maharashtra government reduced the stamp duty by 2-3 per cent to boost housing demand amid the pandemic.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
A special court in Mumbai on Friday declared three family members of late gangster Iqbal Mirchi as 'fugitive economic offenders' under the provisions of a criminal law by the same name, official sources said.
A family home in the leafy Hampstead neighbourhood of north London where Nobel laureate Rabindranath Tagore lived during a visit in 1912 is on the market, reviving some talk of its acquisition on behalf of the Indian government.
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
With the arrival of the second Covid wave in April, the numbers fell by almost 50 per cent.
Priyanka has been told that if she stays beyond August 1, she will have to pay penalty.
Whether it is DLF in the National Capital Region, or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
Properties worth over Rs 150 crore of real estate firm Unitech Group have been attached in a money laundering case, the Enforcement Directorate (ED) said on Tuesday. The assets include a dozen of land pieces measuring a total of 48.56 acres in Gurgaon near Delhi.
Year 2021 was another great year for fund-raising through equities. A total of Rs 1.8 trillion was raised through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, against the Rs 1.7 trillion raised in the previous year. Funds raised through IPOs quadrupled, while those from rights issues and QIPs reduced.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
The Supreme Court on Wednesday directed a full-fledged probe into the collusion of Tihar jail officials with Unitech's imprisoned ex-promoters Sanjay and Ajay Chandra, based on Delhi police commissioner Rakesh Asthana's report filed in a sealed cover.
"I have earlier appeared for the inquiry five times. The Anti-Corruption Bureau (ACB) had filed a C-summary report in a Pune Court that there is no truth in the allegations and the case be closed," he said.
Mumbai Metropolitan Region recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai.
The IAS officer, who was posted for nearly 15 months in the sports and youth affairs department, headed by Minister Anil Vij, has been transferred over 45 times in his career so far.
'Do some profit booking and bring your equity allocation back to its original level.'
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
The Income Tax Department detected bogus expenditure claims and alleged transfer of share capitals worth crores of rupees through shell companies after it recently raided some entities in Karnataka and Uttar Pradesh, including people linked to the Samajwadi Party.
'Investors should keep them on their radar and invest over a longer time frame, and expect some of these companies to bite the dust.'
NCB Deputy Director General (south-west region) Mutha Ashok Jain told reporters outside the agency's office later that Rhea will be called again on Monday for questioning and recording of her statement like Sunday.
Maradona's inheritance process is likely to be a messy affair between his large family, with eight children from six different partners
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
Scanty rainfall, last year's lockdown, growing competition from Nepal and the disaster of the 2017 Gorkhaland agitation are steadily weakening exports and sales of Darjeeling tea.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
There was heavy police deployment outside the NCB office, where barricades were put up.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
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