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finance

Dependence on banks for infra project finance costly

Dependence on banks for infra project finance costly
Impacting the finances of banks and infrastructure developers, infrastructure development, which should have been funded by the corporate bond market, was done through banks. Krishnan said at a CII event on corporate bond market, “From the first three pillars, the corporate bond market will develop high-grade instruments, whereas the fourth pillar would provide stability to [...] Continue Reading »

L&T Finance still looking to get into banking

L&T Finance still looking to get into banking
L&T Finance Holdings (L&TFH) on Wednesday said that the company would look for the opportunity to venture into banking and await RBI guidelines before taking a step further. N Sivaraman, president and whole-time director at L&TFH said the company did not getting a bank licence and it would wait for the next opportunity as and [...] Continue Reading »

ROADS SECTOR TO GET A LEG-UP AS INFRA DEBT FUNDS GAIN TRACTION

ROADS SECTOR TO GET A LEG-UP AS INFRA DEBT FUNDS GAIN TRACTION
“We have seen interests from both global as well as domestic investor that is why there is a huge potential for investment in the infrastructure projects. Although we have seen a downfall recently but the market will be in pace in the coming months, “said by IL&FS Financial Services Managing Director and Chief Executive Officer [...] Continue Reading »

Virtuous Retail ropes in S Raghunandan as CEO

Virtuous Retail ropes in S Raghunandan as CEO
S Raghunandan has been roped as chief executive officer of Indian unit Virtuous Retail Services Pvt. Ltd, whereas the company also announced the appointment of MN Hariharan as director of finance. Early this month, VCCircle had first announced the approaching management changes at the firm. After serving as CEO Retail of realty firm Prestige Group [...] Continue Reading »

Manappuram acquires Milestone Home Finance

Manappuram acquires Milestone Home Finance
Kerala-based gold loan firm Manappuram Finance has diversified with the acquisition of Milestone Home Finance Company from Jaypee Hotels. VP Nandakumar, MD & CEO of Manappuram Finance informed that entire acquisition would cost the company Rs 10 crore. He added that the acquisition would result in diversification of the group into home finance. The group’s [...] Continue Reading »

Use of IT buildings for non IT purposes in Chennai

Use of IT buildings for non IT purposes in Chennai
The long pending request of Chennai’s commercial property developers to let them use the IT buildings for non-IT  purposes like finance, education, hospital, hospitality and retail will very soon be granted. The developers proposal will soon be accepted  if the recommendations of the CMDA are approved by the state government.This  might be followed by a rule that [...] Continue Reading »

BBMP’s hundi system faces criticism

BBMP’s hundi system faces criticism
The hundi system monitored by the Bruhat Bengaluru Mahanagara Palike (BBMP) has come under severe criticism of the Comptroller and Auditor General of India. The CAG has reported that the Palike commissioner and the Chief  Accounts Officer are responsible for its poor financial condition. CAG has observed that the BBMP’s improper financial management has resulted in useless [...] Continue Reading »

Developers body appeals for PM’s help

Developers body appeals for PM’s help
The Confederation of Real Estate Developers Associations of India (CREDAI) has put forward a plan to the Prime Minister to enable reforms in the real estate sector and help rejuvenate it. Home sales registrations continued to decline in the first half of 2012, although by only 3.4 per cent when compared to the same time [...] Continue Reading »

Kolkata’s RCGC plans to play game of realty

Kolkata’s RCGC plans to play game of realty
India’s oldest golf club, Kolkata’s Royal Calcutta Golf Club (RCGC), plans to enter real estate sector in order to create a regular source of income to rise its operational revenue and gather funds for the clubhouse and course upgrade. The club authorities will be signing a joint agreement with private equity (PE) player, Xander Group, [...] Continue Reading »

Edelweiss Housing targets loan-book size to 6,000 cr

Edelweiss Housing targets loan-book size to 6,000 cr
Edelweiss Housing, a branch of financial service provider Edelweiss Group, aims at taking its total loan-book size to Rs 6,000 crore by 2015, a top company official said. The firm has a loan book size of 900 crore and has set up its housing finance in 2010. Anil Kothuri, Edelweiss Housing Finance Executive Vice-President, told that the company started [...] Continue Reading »



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