India Real Estate Link » Shares

Realty Firms filed Prospectus last Monday

Anchal — Tue, 20 Jul 2010 09:41:39 +0000

Last Monday, prospectus was filed according to which the Embassy Property Developers, an Indian real estate firm is planning to raise an amount of 513 million dollars through an IPO (Initial Public Offering) of shares.

As per the prospectus, a pre-IPO placement of around 57.5 million shares for up to 11.75 billion rupees is being considered by Embassy Property. However, it is expected that they will provide a discount of 5% to the retail investors.

The IPO time line is not yet set.

According to the data collected by Thomson Reuters, in 2009, there was a raise of $16 billion from 87 offerings, while in mid June of this year; a total raise of about $11 billion from 56 issues took place.

Growth of JAL (Jaiprakash Associates Limited)

Anchal — Mon, 31 May 2010 07:10:54 +0000

The Jaiprakash Associates, one of the leading infrastructure companies in India has covered a turn over or more than Rs. 10,000 cr.

The Jaiprakash Associates Limited (JAL), the leading infrastructure pudding stone having business interest in the area of cement, construction, engineering, expressways, power and associated real estate and hospitality, in order to continue the growth drift, has announced a net profit for FY10 on higher revenue. For 2009-10, a final dividend of Re.0.54 per equity share of Rs 2/- each has been advocated by the company’s board.

In the financial year 2009-10, Jaypee has shown a remarkable growth. Its total revenue exceeded by 72%; from Rs 5979.52 cr. to Rs 10316.04 cr. Although the EBIDTA went through a hike of 40.36%; from Rs 2059.91 cr. to 2891.44 cr., for the financial year 2010, the net profit registered a growth of 90.45%; from Rs 897.01 cr. in FY09 to Rs 1708.36 cr. in FY10. The revenue for this year on the basis of shares was up by 87.47%; from Rs 4.31 to Rs. 8.08.

IBFSL releases 3% equity of Akruti City

rajani — Wed, 07 Jan 2009 05:50:18 +0000

Indiabulls Financial Services (IBFSL) on Tuesday said that it has released over 3% equity of Mumbai-based developer Akruti City as the real estate firm paid back a major part of its loan amount taken from IBFCL.

Akruti had taken Rs 200 crore from IBFSL by pledging 6% of its equity for working capital requirement.

IBFSL informed the BSE that Akruti City had pledged 5.97% of its equity against the loan and the NBFC has released 3.65% of it. It means, IBFSL is still holding 2.32% of the Akruti City’s equity.

On Tuesday, Akrutiy City’s shares were down by 1.41% to close at Rs 652.05 at the BSE.

A Delhi Based Real Estate Company Is In Debt

rajani — Wed, 20 Aug 2008 15:39:17 +0000

A Delhi based real estate company, which claims to have transformed the dreams of several of its customers to reality, is being trampled by a leading Mumbai-based NBFC.

The promoters of the real estate company had pledged its shares with the NBFC and accepted a funding of Rs 300 crore to meet its short-term working capital. But as a result of the prolonged bearish phase and constant pounding of realty shares, the promoters are unable to meet margin calls that are triggered when share prices slide.

If market sources are to be believed, the company is not in a position to even meet the interest due on its borrowings. Fearing that the loan would end up as bad debt, the NBFC has started dumping the shares of the real estate developer, triggering a further slide in the stock price.

The stock is already down 80% from its peak price seen some months ago. But market circles feel the hammering is not yet over, and the stock may test new lows in the coming days.