PATNA: The name of Chris Gayle is absolutely popular among all who love cricket. Doubtlessly, he is one of the most favorite players in the IPL 2013 too. His popularity reached new bounds when he scored a mammoth 175 from just 66 balls. Continue reading
Sagarika Ghatge, the Bollywood actress who came to the limelight of film industry with Chak De! India, has recently filed a case against a realty firm. She alleged that her photos were used by the firm for the promotion of its projects. Earlier she had endorsement deal with the same firm. However the deal ended in mid 2011. Continue reading
The Siva Group owned by NRI C Sivasankaran has acquired a stake of 13.88% in Arihant Foundations and Housing which is a Chennai based firm.
On Monday, Arihant informed the Bombay Stock Exchange (BSE) that Saravna Enterprises, Siva Projects Engineering and Enterprises and S Jayalakshmi have picked up the stake. Before this deal, Siva Group held 0.32% stake.
Arihant is a leading player in the realty market. This is also evident by its net sales of Rs 158.9 cr. and net profit of Rs 2.8 cr. in the time period of September 2008 to September 2009. It also has a surplus of Rs. 138.2 cr.
A top official of Arihant said that Siva Group has bought the stake as part of their treasury operations. Although promoters have a stake of 65% in Arihant, but dilution is still not needed. The Siva Group has entered the stake market a few months ago. Recently, it bought 12% stake in Ruchi Soya Industries.
One of India’s Major Real Estate Firms Mantri Developers based in Bangalore announced the opening of one of India’s largest malls Mantri Square. The main attraction of the project is metro connectivity in the mall itself.
Mantra Square was inaugurated on Tuesday by B S Yeddyurappa, Chief Minister of Karnataka. The mall will be located at Malleswaram, north Bangalore and spread over 1.7 million square feet which will be built with an investment of over Rs 500 cr. It will boasts of 252 retail outlets) offering 10,000 brands; said Mr. Sushil Mantri the Chairman and Managing Director of Mantri Developers. Mantri square will generate direct employment for about 4,600 people.
The connectivity of the mall to railway station is being jointly developed by the metro rail authorities and Mantri developers. Bengaluru Metro Rail Corporation (BMRCL) has signed first-of-its-kind joint venture with this realty firm to develop the commercial hub-cum-metro station. It will be the first station to be constructed on a public-private participation model. According to the, Sources Mantri and BMRCL have entered into a revenue-sharing agreement for the proposed station. BMRCL will get 1per cent of the revenue earned annually for 30 years, and the percentage will go up to 5 after that. The land will belong to BMRCL but Mantri will spend Rs 35 cr to develop the station, and then construct a commercial tower over the station. According to the agreement, BMRCL will lease the space above the station for 99 years and after the 5-acre property is developed, it will be transferred to BMRCL.
The station becomes operational in two years time frame and is expected to provide an additional footfall of 20, 000. The footfall is expected to go up to one lac a day once the station gets started. The station area would cover around 80,000 sq feet and a third party will be involved to maintain it.
The mall would be responsible for introducing some leading international brands first time in the country and many national brands launching their outlets for the first time in the city.
Mr. Mantri said, “Mantri Square is going to be the largest mall in India. It will undoubtedly be the most sought after destination amongst discerning shoppers and for brands of repute as well. The sheer scale of offerings at the mall came only second to the detailing that has gone into ensuring a world class shopping, leisure and entertainment destination.”
Shopping in this mall will be one of its kind experience for sure.
SALES slowdown, stagnating capital values and a need to manage resources better are pushing Indian realty firms to invest in technology that will help them achieve optimum productivity, information access and regulatory compliance.
End-to-end enterprise resource planning (ERP) solutions, that manage diverse projects across different locations, are slowly finding favour. ERP vendors are seeing increased enquiries pushing them to develop tailored solutions targeted at mid-market realty firms.
When Delhi realty firm RDS Projects’ standalone ERP deployment failed, it turned to a solution that provided efficient management of projects across locations and customers: Aurigo Brix. Similar was IDEB’s case, which used Aurigo’s product across realty projects in Southeast Asia and India.
Recently, global tech giant SAP said Maharashtra-based builder City Corporation has gone live on its ERP solutions to help accelerate business plans, such as building 50,000 houses across five townships in Pune including India’s first digital township, Amanora Park Town.
SAP has signed deals with Chennai-based True Value Homes and the Kolkata-headquartered Tantia Construction and also counts GMR Infra and HCC as its major clients.
From tech biggies to mid-market IT firms, everybody is gunning for a slice of this market. While Bangalore-based Sonata Software has launched SonnetCONSTRUCT, a specialised ERP solution for this vertical, Oracle India and HP have teamed up for a bundled offering — Oracle Accelerate Solution for HP ProLiant servers — that will help mid-size businesses across verticals sustain and grow operations.
While vertical-specific ERP figures are not available, the overall market is expected to top $250 million in 2009, growing at a CAGR of over 25.2% between 2004 and 2009.
The firm recently launched its fifth generation product, BRIX 2009, an industry add-on to Microsoft’s ERP solution suite, Dynamics AX and available through select partner channels in the US, Middle East and Africa.