Klein and others had already been talking to interested parties as they sought to line up investors for the business
Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as its seeks to tap strong demand for residential properties. DLF will develop a new group housing project 'The Arbour', which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17). In an interview with PTI, DLF Ltd CEO Ashok Tyagi said, "We will develop around 4.5 lakh square feet area in this new project." Asked about the construction cost, he said it will be between Rs 7,000-8,000 per square feet given the amenities promised in this luxury project. Tyagi said the overall construction cost has shot up due to increase in prices of key materials like cement and steel. The total construction cost will be around Rs 3,500 crore over the next fou
The continuing demand for housing, accounting for 60-65 per cent of cement demand, and aggressive government investments in infrastructure will drive demand, nudging cement-makers to add 145-155 MT in fresh capacity at an investment of Rs 1.2 lakh crore by FY27, according to a report. With 570 million tonne (mt) of installed capacity, India is the world's second-largest cement producer after China. Between FY12 and FY23, the installed capacity grew by a whopping 61 per cent to 570 MT from 353 MT in FY12 -- a net addition of 217 MT from 2013 to 2022 -- and FY22 saw the highest capacity addition of 34 MT. Cement companies are expected to go on an expansion spree, and add 145-155 MT capacity between FY 2023 and 2027. That translates to a 4-5 per cent compound annual growth rate on a high base. A robust 6-7 per cent CAGR expected in demand over these five fiscals will encourage the growth in supply, Crisil said in a note. The expected 145-155 MT of fresh capacity addition will entail a
Be, however, prepared for interim volatility and have a horizon of above five years
The company started deployment and invested about USD 5 million and has the plan to deploy 5,000 km OFC as the next step, according to Business Recorder
It will invest in 25 start-ups focused on digitalisation, sustainability, financial inclusion
Observing that India and the United States have been ambitious on the strategic and technology front, a diplomat-turned-corporate executive has asserted that now is the time for the two nations to be more ambitious in the area of trade and investment as well. I take great comfort in the fact that the US and India are now not only Quad partners, they are also Indo-Pacific Economic Framework partners. I think both the governments ought to be ambitious about addressing investment and trade issues in order to have a greater opening up in both directions, Atul Keshap, president, US India Business Council (USIBC) told PTI in an interview. If both the governments take decisions to open up further to create a really good framework for trade and investment, you will hit that USD 500 billion target (of India-US annual bilateral trade). It requires the governments to be ambitious. They have been very ambitious on the strategic and the technological fronts. Now is the time to be ambitious on th
It's the first major headwind to blow against a boom in climate-tech investing that was capped off by incentives in the US Inflation Reduction Act last year
The Aditya Birla Group has announced a Rs 1,500-crore investment to make a foray into the law school segment, which will come at its premier engineering institute BITS Pilani's Mumbai campus from the next academic session. The proposed law school will move within a 63-acre university campus in the Mumbai metropolitan area, for which Rs 1,500 crore investment is being made, Birla group chairman and the chancellor of BITS Pilani Kumar Mangalam Birla said in a statement on Friday. BITS Pilani is among the first private sector universities to be awarded the status of 'institute of eminence' by the Centre. The move marks its foray into legal education with the BITS Law School in Greater Mumbai. The law school will cover all aspects of legal education, including a flexible and interdisciplinary curriculum, emphasis on creative learning, focus on legal writing and scholarly research, with strong digital underpinning across the programmes, and enabling access through generous scholarships,
Money will help company to expand business and expand capacity in South India
GQG Partners' founder Rajiv Jain said on Wednesday the fund manager would likely expand its $1.9 billion investment in the Adani group
Jindal Stainless Ltd (JSL) on Tuesday said it will invest Rs 120 crore to set up rooftop solar capacities at its Jajpur and Hisar facilities. While a project of 21 megawatt peak (MWp) will be set up in Jajpur, another 6 MWp rooftop solar capacity will be installed at company's unit in Hisar, JSL said in a statement. "The two rooftop solar plants will be generating about 795 million units of electricity, with a carbon abatement potential of 5,64,450 tonnes in a span of 25 years," it said. Both the projects are scheduled to be completed by March 2024, the company said, adding that the energy generated will be for captive usage. JSL managing director Abhyuday Jindal said: "This is an important step towards achieving our net zero target. Our commitment is responsible business practices and dedication to reducing carbon footprint. We will continue this practice." The company's Hisar unit has already commissioned rooftop solar projects of 4.1 MWp, which is capable of generating 110.7 ..
In FY22, the average ratio of median remuneration of women to men was 0.97, suggesting gender pay parity
Prime Minister Narendra Modi on Tuesday urged India Inc to increase investment and take advantage of the opportunities unveiled in the Budget 2023-24. Addressing the 10th webinar on Budget, Modi said the government has increased outlay on capital expenditure to Rs 10 lakh crore, the highest ever. In this backdrop, he said, "I would also call upon the private sector of the country to increase their investment just like the government so that the country gets maximum benefit from it." The prime minister further said as opposed to the past, the tax burden has come down significantly in India due to GST, reduction in income tax and corporate tax. This, he said, has resulted in better tax collection. In 2013-14 gross tax revenue was about Rs 11 lakh crore which rose to Rs 33 lakh crore in 2023-24, an increase of 200 per cent. The number of individual tax returns increased from 3.5 crore to 6.5 crore from 2013-14 to 2020-21. "Paying tax is such a duty, which is directly related to natio
The Enforcement Directorate (ED) Monday said it has seized Rs 1.21 crore cash and gold and diamond jewellery worth more than Rs 5 crore after it raided some Nagpur-based persons in a money laundering case linked to alleged investment fraud that cheated numerous investors. The searches were launched on March 3 at 15 places in Nagpur and Mumbai and covered the premises of "main accused" Pankaj Mehadia, Lokesh Jain and Karthik Jain apart from main beneficiaries, it said in a statement. The money laundering case stems from a Nagpur Police FIR field against Pankaj Nandlal Mehadia, Lokesh Santosh Jain, Kartik Santosh Jain, Balmukund Lalchand Keyal, Premlata Nandlal Mehadia in a case of "fraud causing loss to investors in crores of rupees." "Pankaj Mehadia along with other accomplices was running a ponzi scheme and lured various investors by promising to give 12 per cent assured profit after deducting TDS on investments made from the year 2004 to 2017," it alleged. "Throughout the period
It was mentioned in the report that sectors that could advance rivals' military capabilities would be a focus of the program, as per The Wall Street Journal report
65% women prefer investing in real estate over other asset classes, and of these, 77% would rather buy property as an investment and only 23% want it for self-use
The ministry is tight lipped over the development and has not given any official reaction yet. "Officials have been directed not to give any statement to media," sources added
The State Empowered Committee (SEC) on Friday discussed a project for providing customised package of benefits under the Rajasthan Investment Promotion Scheme (RIPS) to pave way to attract investments up to Rs 11,993.48 crore in the state. The SEC's 40th meeting chaired by chief secretary Usha Sharma was held on Friday, an official statement said. The projects come from a variety of industries including manufacturing, cement, chemicals, textile, automobiles and hospitality sectors. It is expected that these projects will create 8,815 new jobs in the state. The cases recommended by the State Empowered Committee will now be placed before the Board of Investment headed by Chief Minister Ashok Gehlot for final approval, the statement said. In accordance with the requirements of the Rajasthan Enterprises Single Window Enabling and Clearance (Amendment) Act, 2020, a board of investment chaired by the chief minister has been formed. Veenu Gupta, Additional Chief Secretary (Industries), sa