Now, the property developer has snapped up a controlling 63.9 per cent stake in the loss-making Piramyd Retail at Rs 30 per share. The Rs 159 crore (Rs 1.59 billion) Piramyd has been running 7 large Piramyd lifestyle outlets and 33 small convenience stores called TruMart.
More and more domestic companies are setting up business process outsourcing units in district headquarters, tier-III cities and non-IT clusters to save on real estate costs and stem attrition rates.
The 79-year-old industrialist will continue to serve as chairman of the Godrej Group and chairman emeritus of GIL, said the statement. "Nadir Godrej, who is currently managing director of GIL, will take over as chairman and managing director of the company," it added.
'The deal pipeline across products is robust for 2024.'
Currently, there are related party transactions in four areas -- real estate leased to IGAL, simulator training facilities, General Sales Agreements (GSAs) for limited foreign markets and crew accommodation at Accor Hotels, the IGE statement said. Citing unaudited numbers for 2018-19, the statement said the related party transactions in the four areas accounted for Rs 150.12 crore or 0.53 per cent of IGAL's consolidated turnover.
Li is currently attending the WEF annual meeting in Davos in back drop of release of the annual GDP figures by China highlighting the continuation of the slowdown of the world's second largest economy.
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU.
Mumbai-based Zoom Developers, engaged in diversified businesses including real estate, plans to invest Rs 1,000 crore (Rs 10 billion) in the next three years to construct a 100 hectare IT-ITeS special economic zone at Indore.
The cut in wages by companies whose operations were not shut by the lockdown was more likely opportunistic than out of business compulsions to survive the lockdown. If this is true, then it is worth wondering what kind of opportunism was this? Was it to make a quick buck or was it to use a crisis to engineer a structural change that was necessary, asks Mahesh Vyas.
The two former partners own about 100 such properties; expansion of Best Price, EasyDay stores only after transactions linked to the split are over.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
The assessed value of property owned by International Business Machines Corp. in California's Silicon Valley fell $282 million last year, making the computer services giant the hardest-hit landlord in a collapsing real-estate market
The scope of the certification is focused on 'The Development of Commercial and Residential Complexes'.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
US tech giant Microsoft is in the final stages of talks with the Telangana government to set up a data centre with a total investment of Rs 15,000 crore. According to sources in the state government, the company has zeroed in on a land parcel near Hyderabad for the facility. "In the information technology (IT) space, Telangana is already seeing some major investments. "Microsoft is establishing its data centre here, and it may come out with a public announcement soon," said a source.
Leading hotels are taking all precautions but the unusual service the staff has been pressed into puts them at the forefront of COVID fight.
The rentals in central business districts (CBD) of New Delhi are likely to witness a 10-15 per cent rise by 2005 with the starting of the metro rail service, according to a real estate consulting firm.
Quikr founder & CEO Pranay Chulet tells Raghu Krishnan and Bibhu Ranjan Mishra why money has never been an issue for Quikr and that someday he will make a romantic comedy.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
Place your bets only on cities where you can easily monitor and where there's visible growth.
With its free listing of goods and services, Facebook could disrupt the paid model adopted by classified players in the country, say Ayan Pramanik and Raghu Krishnan.
Significant portion of the funds used to fuel urban demand have become illegal and inoperative.
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
In its Fifth Bi-monthly Monetary Policy Statement, 2017-18, RBI said the second quarter growth was lower than the one that was projected in the October review, and the recent increase in oil prices may have a negative impact on margins of firms and Gross Value Added (GVA) growth.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
NCP president Sharad Pawar on Friday reiterated that the Income Tax Department's raids on Maharashtra deputy chief minister Ajit Pawar's relatives and aides came after his comparison of the Lakhimpur Kheri violence in Uttar Pradesh to the Jallianwala Bagh massacre during the British rule.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Organised players have been the biggest beneficiaries after the lockdowns were lifted. Given real estate is not as expensive now, players want to take advantage of the trend.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
'In India, most funds have one or at most two platforms, but we are the only one which has four -- growth equity practice, real estate practice, a special situation and credit platform, and infrastructure.'
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
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