Realty firm
Realty firm Parsvnath Developers has sold 140-acre land at Sohna, Gurgaon, to Supertech Ltd for Rs 665 crore as part of plans to divest non-core assets to cut debt and complete ongoing projects. With this deal, Kotak Realty Fund has exited this township project. It had invested Rs 110 crore in the project in 2012. [...] Continue Reading »
The telecom business of the Realty firm Unitech has resulted in huge losses and the consolidated balance sheet of the company is appearing red. Unitech had partnered with Telenor Group which is a Norwegian multinational telecommunications company. They had launched telecom services under the brand name of Uninor which never could capture the market share. Realty [...] Continue Reading »
India’s largest realty firm DLF has sought shareholders’ approval to raise up to Rs 5,000 crore through private placement of non-convertible debentures. DLF informed during a filing to the BSE (Bombay Stock Exchange) that the shareholders’ nod has been sought through a postal ballot. This approval is sought for reducing the borrowing power of the [...] Continue Reading »
On the 23rd of May, 2014, it has come to our notice that the famous real estate company Vigneshwara Group has been dealing with fraud allegations. The accusers are investors in the groups project itself at IMT Manesar and Sector 74. Because of such allegations, the police urged this real estate company to display their [...] Continue Reading »
The chairman and managing director of realty firm Eldeco, SK Garg, has been arrested by the Central Bureau of Investigation (CBI) on Friday in connection with a graft case in which some senior income tax officials were nabbed by the agency. The CBI had arrested four senior income tax department officials, who were reportedly involved [...] Continue Reading »
Earnings of the realty firm Indiabulls Real Estate Ltd and Oberoi Realty Ltd has been increased in the last quarter of the financial year 2011-12. The Indiabulls has recorded a rise in net profit of 30 percent while the Oberoi group has posted a rise in 33.8 percent in the total income. The increment in [...] Continue Reading »
DLF, India’s biggest real estate firm will be selling two plots in Noida measuring 25 acres to Bharti Realty. This 25 acre land will be sold to the realty firm Bharti Enterprises, for 250 crore. The Bharti Realty who is showing keen interest in expanding their footprints in these lands. Also they have seeked permission [...] Continue Reading »
India’s largest developer DLF had said that it plans to sell developed assets, including IT parks and its hotels business as well as hotel plots to raise Rs 7,000 crore over the next two years. The company reported that the money from the sale of non-core assets was Rs 165 crore in April-June quarter. The [...] Continue Reading »
