Third quarter results of realty companies, including Orbit Corporation and DLF, reflect a gradual recovery in the realty sector. Both the companies reported a decent year-on-year (YoY) growth in sales aided by higher volumes and firm prices.
Though the premium-housing segment saw a revival in demand, budget housing dominated overall sales during the quarter. As a result, rise in operating margins was not in pace with the increase in sales. This also impacted the bottomline. DLF, for instance, reported a YoY decline in net profit during the quarter.
DLF also witnessed a sharp fall in its interest coverage ratio from 8.9 a year ago to 3.4. The ratio, which reflects ability of profits to cover interest costs, fell because interest outgo rose during the quarter. DLF’s topline grew 48% from Rs 1,367 crore to Rs 2,025 crore on a YoY basis.
More : economictimes.indiatimes.com
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The real-estate market is witnessing a new trend. Most information technology parks and commercial office projects are now being converted into residential projects, as most developers are not feeling confident over the projected revival in the commercial segment.
In the commercial segment, there is a huge oversupply and absorption is very low in the market. A lot of commercial and IT park spaces are now being converted into residential projects. Approximately two million sq ft of commercial projects have recently been converted into residential projects in the island city (mainly at Lower Parel). You can witness many such similar trends in
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From lingerie to breakfast cereals, the Kishore Biyani-promoted Future Group is pushing private labels aggressively to expand their share to 30% in the its total sales within two years.
We will increase the average contribution of private labels from 25% to 30% in the next two years, Future Group head (Private Label) Devendra Chawla said.
The group's subsidiary, Future Brands, is entering new private label segments that offer higher profit margins.
More : dnaindia.com
The 2005 India Economic Summit opened in New Delhi, India, on Nov. 27.
The three-day meeting, jointly held by the World Economic Forum and the Indian Confederation of Industries, was attended by hundreds of business leaders from more than 30 countries and territories.
Speaking at the opening ceremony, Indian Finance Minister P. Chidambaram predicted that Asia will top the world’s economic growth in the future, saying China, with a gross domestic product (GDP) growth rate of 9 percent, and India, with a GDP growth of 7 percent, will lead Asia and the world.
However, he said the Indian economy should look to 8
Delhi Metro on Vastu track
With the Delhi Metro railway project expanding fast in the Capital, vastu shastra practitioners have started relating it to peoples life. Apart from providing an easy and comfortable mode of transport the project is also impacting the economic lot of the people, they claim.
A vastu practitioner has even drawn a correlation between the Metro Rail and the boom in realty prices in the National Capital Region.
According to him, the prices of residential complexes facing south and west of the Metro railway stations will go up considerably in the near future.
Noting that more
