Tata housing to develop realty Pan India
Tata housing development co. Ltd, the real estate arm of Tata Sons ltd plans to invest in Rs300-400 crore during this FY2010-11 to acquire more land on a pan India basis. The estimated 8-10 million sq ft will be in addition to the projects it is current in executing over an area of 20million sq ft.
They are now present in all categories of housing and plan to create more projects with a pan India presence. Tata Housing, which launched a sub-Rs10 lakh housing project in Boisar near Mumbai last year, recently entered the ultra luxury segment with the launch of its project, Prive, at Lonavala where villa prices start at Rs3 crore and go up to Rs7 crore. The firm plans to launch two more projects in Gurgaon, on the outskirts of New Delhi, in the next five to six months.
In the current fiscal, it has plans to launch eight to 12 residential projects across various categories and cities. After the downturn which saw drop in sales of house and apartments and fall in prices alongside, developers are keen on riding on the revival of the housing market. They are building a huge number of high end luxury apartments in Bangalore and Mumbai. These costs anywhere between Rs 4 and 20 crores each.
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India ranks very low in the quality of infrastructure: McKinsey report
India, ranked below war-ravaged Ivory Coast and Sri Lanka for the quality of infrastructure, needs to spend $2.2 trillion by 2030 on transportation, housing and office space in its cities to accelerate economic growth, according to McKinsey & Co.
Cities, such as Mumbai, could generate 70 percent of new jobs, produce almost three-quarters of gross domestic product and drive a near fourfold increase in per capita incomes in the country in the next two decades, McKinsey said in a report, titled “India’s Urban Awakening: Building Cities, Sustaining Economic Growth.”
Financial capital Mumbai’s gross domestic product may exceed that of Thailand and Hong Kong by 2030 as population in India’s cities surges 74 percent to 590 million. India’s per capita spending on urban cialis 5mg daily dose infrastructure is just 15 percent that of China. Unless the government boosts spending eight-fold it may jeopardize expansion in the world’s fastest growing major economy after China, McKinsey said. “India has a lot to do to catch up with China and other developing countries on urban reforms,” Shirish Sankhe, lead author of the report said in an interview today. “If you fix some of these things, we have a very good chance of getting to and sustaining double-digit growth rates.”
India’s per capita spending on city development is $17 each year, just 15 percent of what its northern propecia mg neighbour spends, according to the report. India will have 68 cities with a population of more than one million people, 13 cities with more than four million people and 6 mega cities with populations of 10 million or more, at least two of which will be among the five largest cities in the world by 2030.
Read more about the Infrastructure ranking and Speed of urbanization at the link below.
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Source: [Business Week]
SME’s in IT on a consolidation path
Before the recession broke out when the IT sector was booming tremendously a trend was about to emerge with the consolidation of small and midsized firms to allow them to compete with bigger ones. But the faint indicators disappeared as the crunch put hold onto prospective buyers’ spend and the incentives for acquisition targets. With the demand for IT services and products slowing down everybody raised their guard.
Now the courting has resurfaced. MphasiS, a subsidiary of HP in India, recently acquiring Fortify Infrastructure Services, a provider of offshore based Remote IT Operations and Management (ROM) services with a sizeable presence in Pune. In February this year, network security and management company Blue Coat Systems acquired 100 per cent stake in S7 Software Solutions, a Bangalore-based company started about six years earlier by a team of seven software professionals.
Going by industry sources and analysts, the next one year is expected to see a spate of mergers and acquisitions (M&A) in IT and ITeS (IT-enabled services) in India. “We are seeing a lot of acquisition activity happening all over the place. There are large pharmacy cialis numbers of active discussions happening right now. Whether these will close this quarter or next quarter depends on a lot of other things. But, consolidation has begun in this market place,” says Amit Singh, Executive Director and Head of Technology Practice of investment banking firm Avendus Capital
The job market is picking up and small, midsized companies are having issues in finding appropriate talent and also the investments have dried up. The early stage companies can’t rely on freshers but need people with 3-6 years of experience whose salaries can be afforded only by the bigged companies. With investments becoming hard to come by this becomes a more difficult proposition. “VCs used to invest in IT services substantially, may be two years back. But, that has come down quite substantially in the last two years. So, an SME getting venture or equity financing is no longer easy. And, if you are a generalist, things are far more where to buy cheap propecia difficult,” opines Arun Natarajan, Founder and CEO of Venture Intelligence. But if you are a specialist, providing services in areas like healthcare or banking, then that kind of specialisation has a far better chance of attracting venture capitalists, he adds.
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Source: [Silicon India]
Investment groups eye India as key area for green tech funds
In its annual budget, the Union government said it plans to levy a tax on the use of coal and use the money to start a national clean?energy fund to back renewable energy projects. Besides, there are wind energy propecia merck incentives, including a provision for 80% accelerated depreciation in the first year, a 10-year tax holiday, an income-tax waiver on power sold to utilities and favourable tariffs.
India offers several subsidies for solar power systems, such as solar lanterns and home lighting systems, and generation-based incentives of up to Rs12 per kilowatt-hour for power plants. For small hydropower projects, there are concessions on customs duty, a 10-year tax holiday and other state-level incentives, including sales does cialis really work and electricity tax exemptions and preferential tariffs. Even general domestic private equity funds have been drawn to clean energy.
These reforms on top of the innovation happening in the clean energy sector in India are attracting foreign investors by the hordes. Middle-market private equity firm Olympus Capital Holdings Asia led the $55 million (Rs243.65 crore) round of funding for Orient Green Power Co. Ltd, a renewable energy firm that filed for regulatory approval last week to raise Rs900 crore in an initial share sale. They plan to invest 40-50% of the $250 million regional environment fun in India through 4-5 investments.
Climate Change Capital Ltd, a UK-based investment group that manages funds with $1.5 billion of commitments, according to its website, wants to put money in carbon-embedded assets and buy carbon credits in projects. FE Clean Energy Group Inc., a private equity firm focusing on investment in energy efficiency services has invested in a hydel power project in Karnataka that will provide electricity to industrial gas supplier Praxair India Ltd and in energy services firm Elpro Energy Dimensions Pvt. Ltd. The International Finance Corporation (IFC), an arm of the World Bank, committed an investment in Azure Power India Pvt. Ltd, a provider of solar energy. IFC invested $25 million in Bhilwara Energy Ltd and up to $10 million in Auro Mira Energy Co. Pvt. Ltd, a renewable energy-focused firm.
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Source: [Live Mint]
India has more say and funds from the World Bank
In what has been described as a historical move that would ensure that India would be kept in mind in the making of the bank’s policies by C Rangarajan the PM’s economic advisory Council Chairman, India has been given higher equity share and voting rights in the World Bank. Now it can now access between 7 to 10 billion dollars more in loans as it has a share of 2.91% against 2.77% it held earlier. China has moved to third position after US and Japan, ahead of Germany.
“India has always been a major shareholder in the World Bank. The latest development, which is what G20 members agreed upon at the Pittsburgh summit in September, will ensure a greater administrative role for India. It will also be useful as the bank, in adopting buy cialis online now policies, will keep in mind the needs of the developing world,” Rangarajan said
Former finance secretary and Rajya Sabha member N K Singh thought the change was only nominal. “Deeper changes are required. The Nordic countries continue to enjoy a greater say in the functioning of the bank, while contributing very little to the global economy,” he said. He added that India never fully leveraged its actual borrowing power and this change signals greater reform in financial sector.
The change in the voting structure, in which developing countries now hold 47 per cent, up from about 44 per cent earlier, doesn’t necessarily mean that changes in the International Monetary Fund are also in the offing.
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Malls find new revenue streams
Just during the time ‘recession’ hit India, developers were going on at full pace building a lot of retail space. However due to sharp decline in spending during the period not only did the new space not get filled at the usual rate, store vacancies in the malls began to swell. This drove the mall owners to look for new ways of generating income.
Some of the non-conventional ways in which additional revenues are being earned by shopping centres over and above the ‘fixed rentals from their tenants’ include the following:
1) Temporary leasing area: In the form of fixed kiosks which offer a variety of merchandise and services kiosks which photo/tattoo stations, spas and kids play areas. Also being leased out for exhibitions
2) Events:
- Mall events on special occasions like Independence day, Valentine’s Day
- Mall Tenant events such as store launch parties, fashion shows, brand promotions etc.
- Events as venue partners like brand launches, IPL related events etc
- CSR events which help malls connect to the customers.
3) Promotion and Advertising : Floor Graphics, Standees, Drop Downs, Digital and Graphi propecia ed signage for brands interested
4) Misc Sources: like parking, crèche, gift coupons etc
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Source: cialis tabs 20mg [Retailing 360]
Tata expands retail with new ventures
The Tata group has been slowly unveiling its retail ventures. Under the banner of Infiniti Retail, a 100% subsidiary owned by Tata Sons, it launched the consumer electronics chain Croma. It hopes to grow the brand into a 100 store property by 2011.
Star Bazaar is the hypermarket format with tie up from TESCO of UK is on an expansion route too. Its initial foray Westside, a department store retailer is now well established in several big Indian cities.
Tata International Ltd — the global trading arm of the group and one of the country’s biggest exports houses — plans to set up a retail chain for footwear. The first store is likely to order cialis online without prescription open in Delhi shortly. This is an interesting area as this segment has little competition with very few organized players engaged in retailing footwear. The company has an extensive network of international retailers to whom it already supplies shoes and leather garments, including high street brands such as Marks & Spencer, Zara, Betty Barclay, Mango, Hush Puppies and even luxury retailers such as Escada.
With previous tie ups with design studios in Europe and India, having one of the biggest tanneries in the world in Dewas(Madhya Pradesh) and a manufacturing unit in Chennai it is well positioned to make a dent in the retail market.
Tata international plans to have India’s first green retailing stores, esigned and planned on Leadership in Energy and Environmental Design (LEED) principals and certified from U.S. Green Building Council (USGBC). The stores will consume 40 percent less energy and will generate 15-20 percent power from solar energy. All materials used in the store are made of high content of recyclable material and everything will be procured from within 500 km of radius of the store.
The store will demonstrate a high degree of local skills usage and crafts intervention, thus providing opportunities to local craftsmen and the Industry. All process and fabrication work of the store will be monitored by Green team constituted by the architects and associate team from FRDC Bangalore and Delhi. All waste generated during the construction shall be either reused in the store or shall be supplied to recycle dealers.
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India needs to attract the best foreign B schools
Renowned management canadian proscar and propecia generic cialis guru Bala V Balachandranis the JL Kellogg distinguished professor of accounting and information management at North-western University, USA who also was behind the inception of ISB Hyderabad and Great Lakes Institute of Management in Chennai spoke to ET about the various challenges of management education and India’s new educational policies.
“Management education has missed the burning issues of business relevance and become more about mathematical elegance and theoretical knowledge. Profitability has turned into profiteering and instant gratification dominates rather than long-term profitability. The year 2007-08 marked the black hole days of business education”, he said. He also spoke about the failure of current business models and the work of top B-Schools like Harvard and Kellogg working on the next. He mentioned the high prevalence of Indians as faculty members at all the premier B schools in US. He talked about the need for responsible freedom in a new age business model which incorporates elements like ethical leadership, transparency, investor protection, corporate governance and experiential learning.
He was appreciative of Kapil Sibal’s new initiatives but cautioned the need of attracting the best universities and not the weaker or second rate universities which wouldn’t really benefit the nation in merits like healthy competition and resulting in betterment of quality of education.
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Source: [Economic Times India Times]