Success in my Habit
Showing posts with label FDI. Show all posts
Showing posts with label FDI. Show all posts
Friday, March 23, 2012
FDI inflows up 92% in January
New Delhi: India received $2 billion foreign direct investment in January 2012, registering a 92 per cent rise, compared to $1.04 billion a year ago. The cumulative inflows for the April 2011-January 2012 period stood at $26.19 billion, according to an official release. Sectors which received FDI inflows during the 10-month period this fiscal are: services ($4.83 billion), pharmaceuticals ($3.20 billion), telecommunication ($1.99 billion), construction ($2.23 billion), power ($1.56 billion) and metallurgical industries ($1.65 billion). Mauritius remain the top source of inflows ($8.91 billion), followed by Singapore ($4.30 billion), Japan ($2.75 billion), UK ($2.75 billion), Germany ($1.46 billion), the Netherlands ($1.16 billion) and Cyprus ($1.31 billion). FDI inflows into India totalled $19.42 billion in 2010-11 financial year, down from $25.83 billion in 2009-10.
Sunday, December 4, 2011
FDI breathes new life into shelved projects of DLF, Unitech, Oberoi Realty and others
NEW DELHI: Despite intensifying political opposition in several states to the centre's nod to foreign direct investment in multi-brand retail, real estate developers are gearing up to fast-track their investments in shopping malls.
India's largest real estate developer DLF is re-evaluating its plan to build 4.5 million sq ft Mall of India in Gurgaon, a project that it had shelved following the global economic meltdown in 2008.
Similarly, other real estate developers are also looking to cater to demand from foreign retailers that have been waiting to set up shop in India. According to global consultancy Ernst &Young, the Indian retail market is expected to grow from $400 billion in 2010 to $700 billion by 2015.
With the easing of FDI norms, analysts expect the share of organised retail to rise from the current 5%-6% to about 10% over the next five years, spelling opportunity for real estate developers. DLF is planning to invest close toRs 2,500 crore over five years to develop malls across the country.
It is also planning retail complexes in its residential and commercial properties in Kolkata, Bangalore, Kochi, Goa, Chennai and Hyderabad. Unitech has lined up an investment of Rs 4,000 crore over the next four years to develop 13 malls across the country. "The demand for quality retail real estate will certainly grow as more and more players will invest in this sector," said Munish Baldev, the company's retail head.
"Mall development is very capital-intensive and companies with a strong balance sheet will be able to take advantage of the situation," said Vikas Oberoi, managing director of Mumbai-based Oberoi Realty, the only real estate developer which has a debt-free balance sheet with Rs 1,400 crore cash in hand. Bangalore-based Nitesh Estates recently started construction activity for its 1.3 million sq ft mall in the city centre in anticipation of the opening up of FDI, said managing director Nitesh Shetty.
The company will invest Rs 1,500 crore over the next three years to develop malls in Kochi and Chennai, along with Bangalore. "When foreign players come in, we will be able to fill up a large mall better. Today it doesn't make sense to make a big mall," said Kishore Bhatija, director and chief executive officer of Inorbit Malls, a part of Mumbai-based real estate developer K Raheja Corp.
India's largest real estate developer DLF is re-evaluating its plan to build 4.5 million sq ft Mall of India in Gurgaon, a project that it had shelved following the global economic meltdown in 2008.
Similarly, other real estate developers are also looking to cater to demand from foreign retailers that have been waiting to set up shop in India. According to global consultancy Ernst &Young, the Indian retail market is expected to grow from $400 billion in 2010 to $700 billion by 2015.
With the easing of FDI norms, analysts expect the share of organised retail to rise from the current 5%-6% to about 10% over the next five years, spelling opportunity for real estate developers. DLF is planning to invest close toRs 2,500 crore over five years to develop malls across the country.
It is also planning retail complexes in its residential and commercial properties in Kolkata, Bangalore, Kochi, Goa, Chennai and Hyderabad. Unitech has lined up an investment of Rs 4,000 crore over the next four years to develop 13 malls across the country. "The demand for quality retail real estate will certainly grow as more and more players will invest in this sector," said Munish Baldev, the company's retail head.
"Mall development is very capital-intensive and companies with a strong balance sheet will be able to take advantage of the situation," said Vikas Oberoi, managing director of Mumbai-based Oberoi Realty, the only real estate developer which has a debt-free balance sheet with Rs 1,400 crore cash in hand. Bangalore-based Nitesh Estates recently started construction activity for its 1.3 million sq ft mall in the city centre in anticipation of the opening up of FDI, said managing director Nitesh Shetty.
The company will invest Rs 1,500 crore over the next three years to develop malls in Kochi and Chennai, along with Bangalore. "When foreign players come in, we will be able to fill up a large mall better. Today it doesn't make sense to make a big mall," said Kishore Bhatija, director and chief executive officer of Inorbit Malls, a part of Mumbai-based real estate developer K Raheja Corp.
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