Ravi Karandeekar's Pune Real Estate Market News Blog: investment opportunities

Showing posts with label investment opportunities. Show all posts

Monday, July 27, 2009

Government employees being wooed like never before

Unaffected Cash flows:

All eyes are now on the government sector. Don't be surprised . SundayET has found that across major categories - real estate, consumer durables and auto - government employees are being wooed like never before. In fact, banks are also introducing special schemes to woo the sarkari brigade.

And when it comes to the real estate sector, biggies such as DLF confirm the activity from this sector. "We do not discriminate between our clients. However, there is an increase in the number of government employees as their cash flows have not been affected due to slowdown," said Rajeev Talwar, group executive director, DLF. Agrees Gaurav Bhalla, executive director of the Vatika Group. "We are seeing more people from the government sector buying as compared to earlier."

Sixth Pay Commission:

You could call this ironic for private sector employees or plain good luck for the public ones, but the fact remains that government employees have been the least impacted by the slowdown blues. They even got a huge jump in salaries after the implementation of the Sixth Pay Commission last year, and a part of their arrears are due this year.
To read more, please, visit - The Economic Times

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Thursday, September 6, 2007

Real estate fund IndiaREIT is planning to come out with a $500 million offshore fund to invest in properties in Pune, Mumbai, Bangalore and Hyderabad

"The fund will have a green-shoe option of $200-250 million," said Ramesh Jogani, MD & CEO, Indiareit Fund Advisors.

Indiareit expects both individual and financial institutions, including insurance and private equity players from the US, Europe, the Middle East, Japan and South-East Asian countries, to investments in the fund.

The minimum investment size for individuals in the fund would be as low as $0.5 million, while institutions would have to shell out $5 million to get a pie of the fund, to be raised through distributors.

"There is a lot of euphoria for Indian real estate sector among the big PE players overseas and the company intends to partner them to become a major player in the country's real estate sector. Indiareit will invest the fund over a period of four years... All leading distributors would be engaged to market the fund," Jogani said. This is Indiareit's second offshore fund, expected to come out by the end of the current year.

Earlier Offshore Fund: Set up in March 2006, Indiareit Fund advisors had earlier came out with an $200 million offshore fund in which major private equity player 3i had invested $40 million.

Indiareit source said bulk of the investment in the fund had came from the Middle East while there were private equity investments from Singapore and the UK.

Domestic Fund: Recently, Indiareit had launched a Rs 350 crore domestic fund with a green-shoe option of another Rs 350 crore. So far, it has raised Rs 500 crore out of the fund and expects to close the fund in the next two to three weeks.

1. HDFC, GE Capital, Indiareit and now 'Taj Business Hotels' join hands with Paranjpe Schemes' integrated township at Hinjewadi in Pune (India)

2. "Pune can absorb up to $2-3 billion in Foreign Direct Investment annually" Lalit Kumar Jain, president, Promoters and Builders’ Association of Pune

3. REITs — poised to gain ground

4. Indian Real Estate and Real Estate Investment Trust

5. Yes, be greedy when others are fearful, go ahead and "Scoop up some REITs", please!

pune real estate

Vascon Engineers, Pune, plans to raise Rs 450 cr via IPO

Vascon Engineers is going to come up with an issue of close to 35 lakh shares, an IPO by the end of this year. They will file their Draft Red Herring Prospectus by the end of this month.

10% stake:

Vascon is going to raise Rs 450 crores from the capital market. The company has 3.5 crore shares and is looking to dilute 10% stake. Analysts said that it will work out to 35-38 lakh shares in the market.

Rs 1,000-1,300 per share:

They have got a valuation between 3,700-4,000 crores of their landbank at the moment and the price band would work out between Rs 1,000-1,300 per share, at a face value of Rs 10. Their merchant bankers are Kotak Securities and Merill Lynch who are helping them put up this IPO.

Vascon Projects:

Vascon Engineers has 17- 20 m square feet under development at the moment.

Vascon has already constructed 10 lakh square feet of residential projects and 13 lakh square feet of IT cum commercial buildings.

They are a big player in the Pune market and also have a presence in Mumbai, Goa, Gujarat, Punjab and Himachal Pradesh.

HDFC Fund:

Pre-IPO placements, HDFC Property Fund picked up 10% stake in the company for Rs 138.5 crore.

Credit Suisse:

Another interesting special purpose vehicle, or SPV, has been done with Credit Suisse for a hotel cum IT project, which is worth Rs 300 crore in Pune. Credit Suisse picked up 75% in that SPV.

Cipla:

Cipla Chairman, Yusuf Hamid, is a important shareholder and this fact has been confirmed by the Vascon management. But the shareholding capacity is not entirely from Cipla, but from the entities that Yusuf Hamid owns.

Source: Watch CNBC-TV18 video: Disclaimer: This information is source-based and has not been provided to the stock-exchanges.