Realty News
Close on the heels of securing an Rs 1,000-crore long-term loan from global private equity major KKR, GMR Infrastructure said that it is looking at international markets for funds at lower interest rates. Managing director Kiran Kumar Grandhi said on Thursday at the company’s annual general meeting that the firm will focus on recalibrating its [...] Continue Reading »
The battle between the TRS government and L&T, which is executing the metro rail project in the city, reached a new low on Wednesday with selective leaks to media houses that L&T has written to the government indicating that it wants to exit from the project and that the government should take it over and [...] Continue Reading »
The current debt position is around Rs 37000 crore and post rights issue which is expected to happen sometime in November, I think this should fall down by around Rs 1300 crore again further. Apart from the actual aggregate amount, what is the miracle that is going to happen actually, if you look at our [...] Continue Reading »
For someone who is on the road a lot, Virendra Mhaiskar doesn’t come across as travel-weary. That is probably because the soft-spoken entrepreneur from Maharashtra loves the outdoors and can’t stay away even though it means spending most of his time away from home. The 43-year-old chairman and managing director of IRB Ifra, who has [...] Continue Reading »
Terming it as a black spot on his ministry, Union minister for road transport Nitin Gadkari had promised to complete the widening of Jaipur-Gurgaon national highway-8 by 2015. But his assurances are facing impediments in the absence of land availability to carry out construction. According to National Highways Authority of India (NHAI), land possession remains [...] Continue Reading »
Walmart, which had stalled its expansion due to restructuring after it broke up its tie-up with Bharti last year, is again gearing up to expand its footprint and plans to roll out 50 stores in the next five years across the country. The company, which has 20 stores in the country, is planning to open [...] Continue Reading »
We downgrade IDFC to ‘neutral’ from ‘buy’ with a fair value of R143 a share. We are not pricing in a blue-sky scenario as of now. IDFC is trading at 1.3x FY16e adjusted book value and we expect it to generate 13 percent return over the next 10 years in the base case (target multiple [...] Continue Reading »
The bullish sentiment in the equity market on Thursday, along with positive tidings from GMR Infrastructure Ltd (GIL) about improving its balance sheet, lifted the stock price by 2.91 percent. The infrastructure firm announced that US private equity firm KKR Capital Markets will lend Rs.1,000 crore to GMR’s holding company. This, in turn, will be [...] Continue Reading »
In a landmark judgment that is bound to bring relief to property owners, the Supreme Court ruled on Wednesday that basements of residential houses could now be sold and registered separately in Haryana. Until now, basements could only be sold and registered along with the ground floor. A three-judge bench of the Supreme Court, headed [...] Continue Reading »
With the investor sentiment improving in the country, city-based construction company NCC Ltd is talks to exit one of its four BOT road projects and expects to clinch a deal by the end of this year. We are planning to exit two out of four BoT road projects. Out of two, we are currently in [...] Continue Reading »
