Nitesh Estates Ltd announces Q3 results
Nitesh Estates Limited has announced impressive performance for the third quarter ended on December 31, 2010 with a Consolidated Total Income of Rs. 31.8 Crore; EBIDTA of Rs 4.03 Crore & PAT of Rs. 2.58 Crore.
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DB Realty absorbed Dawood money, believes CBI
THE CBI interrogation of DB Realty’s MD, Shahid Balwa, in connection with the 2G spectrum scam has thrown up the possibility of the real estate magnate having links with India’s most wanted man, Dawood Ibrahim. According to senior CBI officials, Dawood invested large sums of money in Balwa’s firm, which was used by him to finance many of his business deals.
Knight Frank outlook on real estate not bright
As real estate prices shoot up and interest rates, the outlook for the sector does not look too bright. In its year-end report, Knight Frank has stated that new home sales in India have fallen by 25 per cent due to soaring prices. With the Reserve Bank of India tightening lending norms to developers and raising interest rates, the property market is likely to plumb new lows in 2011 as buyers disappear.
What ails luxury retail in India?
Urbanization rate is on the increase – and while there had been a few setbacks over the past few years, the Indian luxury retail market is firmly back now. The economy once again supports the rationale for spending on luxury goods, and it will continue to do so.
Fiscal deficit makes our expectations high: R K Jain, Executive Director – Wave City
The time of the year has come when everyone is dreaming about the Finance Minister’s briefcase. Though real estate is ready with its list of expectations, experts believe that this year it would be good to expect much from the government owing to the kind of fiscal deficit government is going through. Expectations are high because of the increase in home loan interest rates, which have hampered the affordability of the buyer.
Mumbai realty aims northwards despite correction forecasts
If you are living as a tenant in Mumbai and seeking to buy a house this year, there seem to be quite a few confusions going around. While some of the reports and projected forecasts may give you a ray of hope, it would rather mislead you and your wait for a cheaper home may actually cost you to pay more in future.
India property show at Abu Dhabi today
Abu Dhabi is hosting a new India property show that will bring over 100 projects from across India for the Capital-based Non-Resident Indians (NRIs), according to its organiser Future Exhibitions and Promotions (FEP). The inaugural ‘India Property 2011’ is scheduled to be held from today, February 11-12, 2011 in Abu Dhabi that will showcase affordable and hi-end luxury properties with competitive prices in the market starting from Rs1 million to Rs10 million.
Omaxe Q3 FY11 Consolidated Net Sales up by 24% to Rs 348 crore
Omaxe Ltd., the real estate and infrastructure development company has reported Consolidated Net Sales of Rs. 347.97 crore for the quarter ended December 31st 2010 as compared to Rs. 280.20 crore for the quarter ended December 31st 2009, registering a growth of 24.2%.
NAREDCO expects thrust to housing for all in budget
National Real Estate Development Council (NAREDCO), the apex body of real estate industry in the country, expects Finance Minister to grant infrastructure status to housing under section 801A of IT Act, 1961, thereby, treating housing at par to other infrastructure projects.
Vascon Engineers Q3FY11 consolidated revenue up 36% at Rs 215.82 cr
Vascon Engineers Ltd, a Real Estate and EPC company, on a consolidated basis recorded a revenue of Rs. 215.82 crore for Q3FY11 as against Rs.158.60 crore in the corresponding quarter last year; marking a growth of 36.08%.