Godbole returns to Morgan Stanley as India realty arm head
Morgan Stanley has named Shirish Godbole as the head of its global real estate investment fund in India.
Morgan Stanley has named Shirish Godbole as the head of its global real estate investment fund in India.
Growing eurozone crisis is all set to affect the Indian real estate. It may sound like drawing a parallel between Indian office space prices and what’s happening in North America and Europe.
In 1962, Edward Lorenz, the renowned mathematician from Massachusetts Institute of Technology, published a paper on Deterministic Non-periodic Flow in the Journal of Atmospheric Sciences.
Unitech Ltd reported a 47 per cent fall in its net profit for the second quarter ended September 30 on the back of rising input cost and interest rate hike, among other factors.
DLF has said its net debt increased by nearly Rs.1,000 crore in the July-September quarter to Rs.22,519 crore, mainly due to delayed receipt of payments related to non-core asset sales.
The global debt funding gap is estimated to total US$142bn over the next three years (2012-2014) according to latest research from DTZ.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
It is not just the rising interest and input costs and project delays that is hurting the realty companies, rather the mounting debt is the real cause of worry.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
DLF has sold a 28-acre plot in Gurgaon to M3M India for Rs.440 crore, in the first among many such big-ticket sales it has lined up this fiscal to bring down mounting debt.