Saturday, November 17, 2018

Latest News

Avolon Places 15 Airbus A320neo Aircraft with Vistara

Delivery of the aircraft will commence in June 2019 and continue up to August 2021. Avolon, the international aircraft leasing company, announces the placement of...

Visa invests in payments technology platform BillDesk in India

The investment will be subject to necessary statutory approvals and is expected to have no direct bearing on Visa’s existing Indian business. Visa announced a...

HealthFin bags Best Startup award in Healthcare Sector

  HealthFin - emerging startup in the financial technology sector was declared as the Best Startup in Healthcare sector in the recently-concluded Navbharat Healthcare Summit...

National Institute of Technology confers Pawan Munjal with Honorary Doctorate

Pawan Munjal, one of India’s foremost corporate leaders, was awarded with an honorary doctorate at the 16th Convocation of the National Institute Of Technology...

Häfele launches Digital Home Security Solutions

Today, people want smarter and convenient options to manage the access to their homes - the question is no longer about who stays out...

Srei consolidated Q2 Net Profit up by 29% INR 110.97 crore

Consolidated assets under management ("AUM") stood at Rs 50,893 crore as on September 30, 2018 compared to Rs 44,540 crore a year earlier Srei Infrastructure...

International trade fair bauma CONEXPO INDIA to discuss challenges in the...

bauma CONEXPO INDIA 2018, the International trade fair for Construction Machinery, Building Material Machines, Mining Machines and Construction Vehicles will be held from 11th...

L&T Technology bags supplier of the year award

L&T Technology Services (NSE: LTTS), a leading global pure play engineering services company, has been conferred with the ‘Supplier of the Year 2017 Award’...

White Rivers Media bags Shorty Social Good award

The only independent Indian Digital Agency finalist in Shorty Social Good Awards, 2018, brings home the trophy for a noble cause! White Rivers Media has...

GODREJ LOCKS pledges INR 100 crore towards #HarGharSurakshit Campaign

Indians seem to be lagging behind in adopting the available technologies even in the primary source of protection of their homes locks To commemorate National...

Rahul Bhargava to join InCred as Chief Technology Officer

InCred is a new age NBFC offering bespoke loan products to consumers as well as businesses in India In a coup of sorts, InCred has...

8K Miles net profit up by 23.93% at INR 50.90 crore

Q2FY19 Revenue grew y-o-y by 34.16% to INR 282.57 crore 8K Miles Software Services Ltd., a leading Global IT Business Transformation, Secure Cloud Solutions and...

Capri Global net profit up by 20.3% at INR 24.53 crore

As on September 30, 2018, the net worth of the Company stood at INR 1,301.89 crore Highlights: Q2FY19 CONSOLIDATED TOTAL INCOME OF RS. 134.94 CRORE...

Bharat Road Network reports 40% growth in net profit for H1FY19...

Total revenue for the quarter ended September 30, 2018 increased by 47% to 2145.40 lakh as against Rs 1460.95 lakh recorded during the quarter...

Women lead technology startups receive WEQ 2018 Award

Winners get an all-expenses-paid experiential learning trip to the Silicon Valley, US sponsored by AnitaB.org India and DST, Government of India The AnitaB.org India, a...

OnePlus leads the premium smartphone segment in India

In Q3 2018, OnePlus has emerged as the market leader in the premium smartphone segment with 37 percent market share OnePlus has emerged as the...

ICICI Bank on IIP & CPI
“The October CPI print surprised positively as it was much lower than our and the street expectations. It continued to be aided by the food component which shrunk on a sequential basis underscored by components such as fruits, vegetables and pulses. The earlier fears of Minimum Support Price (MSP) hikes feeding through to CPI has been allayed. However, the sharp increase in core inflation which is remaining sticky at ~6.2% is worrying, with components such as health and personal care, and household goods showing high sequential momentum.

We expect FY2019 headline inflation to remain very benign given the recent downturn in oil prices, stability in the rupee and mild inflation prints. The next inflation print could be even lower. We are however, concerned at the extreme food disinflation. IIP came as expected at 4.5% with slight moderation in manufacturing but consumer goods continue to show traction and bode well for Q2 FY2019 growth. In light of these developments, we believe the MPC would be on pause for a while now” – Mr. B Prasanna – Group Executive and Head, Global Markets Group


Ease of Doing Business
“The real estate industry has been amongst the top beneficiaries of government’s effort to improve the ease of doing business. While the overall performance has improved to 77th rank, ranking in ease of obtaining construction permits has improved a phenomenal 129 positions from rank 181 to 52 in a single year. A variety of other structural reforms which may not be reflected in the rankings like Benami Properties Act, affordable housing initiatives, RERA, REITs and GST have brought a paradigm shift in the industry structure thus increasing transparency and making the industry organised. Such sustained efforts will go a long way in attracting global capital and the impact of the reforms is already visible in the alacrity with which global investors like Blackstone, CPPIB, GIC, Brookfield and Xander to name a few are participating in Indian real estate market. In the backdrop of this improvement in rankings, we expect the participation of global investors to strengthen further in the years to come.” – Shishir Baijal, Chairman and Managing Director, Knight Frank India.


Dr. Philip Kotler at WMS
Global Marketing Guru Dr. Philip Kotler will address the World Marketing Summit 2018. The WMS will be held this December in New Delhi on December 14, 2018. The theme of the summit is ‘Industry 4.0 – Transformative Marketing, Blockchain, Ethics & Disruptive Innovation’. The summit will also felicitate best performing organizations with the famed Kotler Awards. 400+ business delegates will attend the summit from India and neighbouring countries.


Rakesh Bhatia joins CredAble
Rakesh Bhatia, ex-CEO HSBC Bank, Indonesia & Catholic Syrian Bank, has been appointed as an advisor to the Fin-tech Startup CredAble.

CredAble is a Fintech company focusing on Supply Chain Financing with a mission to increase the working capital availability to the various stakeholders in the industry.


Piramal Enterprises refutes rumours on RE lending

Piramal Enterprises Limited (‘PEL’, NSE: PEL, BSE: 500302) today strongly refutes all baseless rumours of any sort/form that have been floating around with respect to its real estate loan portfolio companies. Among others the rumours relate to loan defaults to PEL/Piramal Capital & Housing Finance Limited (PCHFL) by real estate developers such as Lodha, Omkar, Vatika, Embassy, Radius, Nahar, Aristo, Supertech, etc.

PCHFL, the wholly owned subsidiary of Piramal Enterprises, provides various financing solutions in the real estate sector such as early stage private equity, structured debt, senior secured debt, construction finance, flexi lease rental discounting and housing finance.

Piramal Enterprises would categorically like to state that we have an extremely robust loan processing and recovery process including risk management and asset monitoring system. Developers like Lodha, Omkar, Vatika and Embassy referred to in the rumours are part of our lending portfolio but have never defaulted on any interest or repayment obligation to PEL/PCHFL.

Additionally, contrary to rumours, PCHFL has not extended any loan to developers like Aristo, Nahar, Supertech, Radius and Amrapali. Therefore, there is no question of any default on loan repayments by these developers.

We have scheduled an earnings call post our Board Meeting for adoption of Quarterly Results at 6pm IST on October 25, 2018 when we would be happy to share a lot more granular details on the health of our lending portfolio and our healthy liquidity status.

Piramal Enterprises would also like to state that the National Housing Board (NHB) carries out an annual inspection of all housing finance companies. PCHF received the housing finance license in end August, 2017 and accordingly, NHB has now initiated their annual inspection of PCHFL. This is purely routine and procedural in nature.


“In the backdrop of the NBFC liquidity crisis, credit flow to the real estate sector has been squeezed. This measure by the central bank is aimed at easing credit flow to NBFCs, which is welcome. However, its impact still depends on banks’ confidence to lend to this segment in the current environment.” –
         Shishir Baijal, Chairman & Managing Director, Knight Frank India.


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