Nigeria invites Indian firms to invest in power sector :
KOLKATA: Nigeria has invited Indian companies to invest in its power sector in which domestic firms NTPC and Essar have evinced interest in return for oil and gas blocks in the African country. "We are seeking investment in the power sector from Indian companies. Essar and NTPC have expressed interest in taking crude and gas blocks and in turn to invest in power sector," Nigerian Investment Promotion Commission CEO Mustafa Bello said here on Wednesday. He was speaking on the sidelines of the second CII-Nigeria-India business and investment forum, leading a trade delegation to Kolkata. Essar had sought crude blocks while NTPC had sought LNG from Nigeria and both had made presentations to the government sometime back. "If Essar and NTPC take oil or gas blocks, they would invest in power sector," Bello said. Nigeria currently produces 4,000 MW of power and aims to touch 10,000 MW in near future. He, however, failed to clarify if NTPC and Essar will get any preference in the bidding process for oil and gas blocks in return for investment in the power sector by them. Speaking about the interest from other Indian groups, Bello said Tatas are opening an office in Nigeria and planning a greenfield luxury hotel. "Tatas are opening an office at a cost of around five million dollars," Bello said. Hinduja group's Ashok Leyland which had expressed interest earlier had backed out, the commission's CEO said. The total trade between Indian and Nigeria was estimated at $79,224.22 million in 2006-07.
26 Mar, 2008, The Economic Times
Wednesday, March 26, 2008
Brazil invites Indian firms to invest in cane farming:
Brazil, the world’s largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.
“Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol,” visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.
While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.
Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.
Deora said the government plans to double ethanol quantity in petrol to 10 per cent from October.
State-run fuel retailers are already talking to various companies in Brazil for cane farming and ethanol production at an investment of close to $600 million.
Indian Oil, Hindustan Petroleum and Bharat Petroleum will form a joint venture to take up ethanol production in Brazil. They together will have a 50 per cent stake in the joint venture, while a local Brazilian firm will have the remaining.
The partner search exercise conducted by the local consultant The Jai Group has identified four companies, including large integrated groups Louis Dreyfus Commodities Bioenergia (LDCB) and Infinity. The other companies identified are Rezek and Goiasa.
The initial ethanol production capacity being targeted is 500 million litres
Business Standard
27th March 2008
Brazil, the world’s largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.
“Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol,” visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.
While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.
Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.
Deora said the government plans to double ethanol quantity in petrol to 10 per cent from October.
State-run fuel retailers are already talking to various companies in Brazil for cane farming and ethanol production at an investment of close to $600 million.
Indian Oil, Hindustan Petroleum and Bharat Petroleum will form a joint venture to take up ethanol production in Brazil. They together will have a 50 per cent stake in the joint venture, while a local Brazilian firm will have the remaining.
The partner search exercise conducted by the local consultant The Jai Group has identified four companies, including large integrated groups Louis Dreyfus Commodities Bioenergia (LDCB) and Infinity. The other companies identified are Rezek and Goiasa.
The initial ethanol production capacity being targeted is 500 million litres
Business Standard
27th March 2008
Bangalore Book Sellers List
Bangalore Book Sellers:
Ameya Law Agency, 1 Amar Towers Ist Cross, Gandhi Nagar, Bangalore 560009 Ph 22281221
Computer Bookshop B1, 1st Fl, Jyoti Complex, 134/1, Infantry Rd, Bangalore 560001 Ph 22862860
Fountainhead 41 Lavelle Rd, Bangalore 560001 Ph 22219777
Gangaram Book Bureau, 72 MG Road, Bangalore 560001 Ph 25586189
Higginbothams 68 MG Rd Bangalore 560001 Ph 25586574
Medical Book Company Lakshmi Comp, Opp. Vanivilas Hospital KR Rd, Bangalore 560002 Ph 26707525
Nagashri Bookhouse 33, East Blk Shopping Complex, 4 th Blk, Jayanagar, Bangalore 560011 Ph 26630993
Nalanda Book Stores 37 Markham Rd, Bangalore 560025 Ph 25510307
Orient Longman 46/47 Banashankari III Stage, Bangalore 560085 Ph 26690258
Premier Bookshop 46/1 Church St, Bangalore 560001 Ph 25588570
Puliani & Puliani Ground Fl, Sujata Complex Ist Cross Gandhinagar, Bangalore 560009 Ph 22265500
Pustak Mahal 22/2 Mission Rd, Bangalore 560027 Ph 22234025
Sapna Book House Opp. Tribhuvan Theatre, Bangalore 560009 Ph 2226088
Select Book Shop 77 Brigade Road Cross, Bangalore 560001 Ph 25580770
Sri Venkateswara Bookstall 2940/B, MKK Rd Rajaji Nagar, Bangalore 560010 Ph 23421316
Strand Book Stall S113-114, Manipal Centre, Dickenson Rd, Bangalore 560042 Ph 25580000
Subhash Stores 72 Avenue Rd, Bangalore 560002 Ph 22216624
The Book Cellar 71 MG Rd, Bangalore 560001 Ph 25588816
Theological Book Trust 54-MIG 5th Blk Koramangala, Bangalore 560095 Ph 25531154
Vedanta Book House Near Uma Theatre, Chamrajpet, Bangalore 560018 Ph 26747590
Ameya Law Agency, 1 Amar Towers Ist Cross, Gandhi Nagar, Bangalore 560009 Ph 22281221
Computer Bookshop B1, 1st Fl, Jyoti Complex, 134/1, Infantry Rd, Bangalore 560001 Ph 22862860
Fountainhead 41 Lavelle Rd, Bangalore 560001 Ph 22219777
Gangaram Book Bureau, 72 MG Road, Bangalore 560001 Ph 25586189
Higginbothams 68 MG Rd Bangalore 560001 Ph 25586574
Medical Book Company Lakshmi Comp, Opp. Vanivilas Hospital KR Rd, Bangalore 560002 Ph 26707525
Nagashri Bookhouse 33, East Blk Shopping Complex, 4 th Blk, Jayanagar, Bangalore 560011 Ph 26630993
Nalanda Book Stores 37 Markham Rd, Bangalore 560025 Ph 25510307
Orient Longman 46/47 Banashankari III Stage, Bangalore 560085 Ph 26690258
Premier Bookshop 46/1 Church St, Bangalore 560001 Ph 25588570
Puliani & Puliani Ground Fl, Sujata Complex Ist Cross Gandhinagar, Bangalore 560009 Ph 22265500
Pustak Mahal 22/2 Mission Rd, Bangalore 560027 Ph 22234025
Sapna Book House Opp. Tribhuvan Theatre, Bangalore 560009 Ph 2226088
Select Book Shop 77 Brigade Road Cross, Bangalore 560001 Ph 25580770
Sri Venkateswara Bookstall 2940/B, MKK Rd Rajaji Nagar, Bangalore 560010 Ph 23421316
Strand Book Stall S113-114, Manipal Centre, Dickenson Rd, Bangalore 560042 Ph 25580000
Subhash Stores 72 Avenue Rd, Bangalore 560002 Ph 22216624
The Book Cellar 71 MG Rd, Bangalore 560001 Ph 25588816
Theological Book Trust 54-MIG 5th Blk Koramangala, Bangalore 560095 Ph 25531154
Vedanta Book House Near Uma Theatre, Chamrajpet, Bangalore 560018 Ph 26747590
KS Oils buys palm plantation in Indonesia:
Mumbai, March 26 KS Oils, an integrated edible oil company, has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs 230 crore. The investment, spread over three years, will be routed through its wholly owned subsidiary in Singapore.
Mr Ramesh Chand Garg, Chairman, KS Oils, said, “With spiralling commodity and raw material prices, owning a raw material source is the right strategy to de-risk in the long term. This is another important step in our global ambitions.”
The plantation is expected to yield palm oil of about 80,000 tonnes annually, which is about 2.3 per cent of India’s current imports of 3.6 million tonnes per annum.Integrated player
KS Oils is the first Indian company which has invested in palm plantations in Indonesia. The palm oil will be transported to the various manufacturing plants of the company in India. Through the acquisition the company is shaping its strategy of an integrated agriculture player through backward and forward integration in the entire value chain, the company said. The investment will reduce the raw material costs significantly.
The company has set up operations there and the plantation will be developed over next three years. The investments will ensure best agricultural practices with the focus on scientific methods of plantation to increase productivity and yield.
Recently, the Indian government reduced the import duty on crude palm oil to 20 per cent from 45 per cent, while that on refined palm oil was trimmed to 27.5 per cent from 52.5 per cent to help curb inflation.
With the reduction in excise duty, India’s imports of palm oil are likely to increase from the earlier market estimate of 4.3 million tonnes.
“We think palm oil will now constitute more than 60 per cent of total edible oil imports,” said an analyst.
Business Line,
27th March 2008
Mumbai, March 26 KS Oils, an integrated edible oil company, has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs 230 crore. The investment, spread over three years, will be routed through its wholly owned subsidiary in Singapore.
Mr Ramesh Chand Garg, Chairman, KS Oils, said, “With spiralling commodity and raw material prices, owning a raw material source is the right strategy to de-risk in the long term. This is another important step in our global ambitions.”
The plantation is expected to yield palm oil of about 80,000 tonnes annually, which is about 2.3 per cent of India’s current imports of 3.6 million tonnes per annum.Integrated player
KS Oils is the first Indian company which has invested in palm plantations in Indonesia. The palm oil will be transported to the various manufacturing plants of the company in India. Through the acquisition the company is shaping its strategy of an integrated agriculture player through backward and forward integration in the entire value chain, the company said. The investment will reduce the raw material costs significantly.
The company has set up operations there and the plantation will be developed over next three years. The investments will ensure best agricultural practices with the focus on scientific methods of plantation to increase productivity and yield.
Recently, the Indian government reduced the import duty on crude palm oil to 20 per cent from 45 per cent, while that on refined palm oil was trimmed to 27.5 per cent from 52.5 per cent to help curb inflation.
With the reduction in excise duty, India’s imports of palm oil are likely to increase from the earlier market estimate of 4.3 million tonnes.
“We think palm oil will now constitute more than 60 per cent of total edible oil imports,” said an analyst.
Business Line,
27th March 2008
Cessna Technologies Pvt Ltd
#63, Rashtrakavi Kuvempu Road, Vidyaranyapura, Bengalure 560097
Phone: 23645882/3
www.cessnatech.com
Engineering Service Company in the field of Automotive, Mechanical, Structural, Construction & Energy domains backed up with a decade experience in manufacturing equipment for process industry and delivering turnkey solutions.
Ascent, The Times of India
26th March 2008
#63, Rashtrakavi Kuvempu Road, Vidyaranyapura, Bengalure 560097
Phone: 23645882/3
www.cessnatech.com
Engineering Service Company in the field of Automotive, Mechanical, Structural, Construction & Energy domains backed up with a decade experience in manufacturing equipment for process industry and delivering turnkey solutions.
Ascent, The Times of India
26th March 2008
Apeejay Education Society
Apeejay Stya House 14, Commercial Complex, Masjid Moth, Greater Kailash-II, New Delhi 110048
Phone: 011-29228296/97/98
www.apeejay.educ, aes@apeejay.edu
Dr. Stya Paul, President,
Ascent, The Times of India,
26th March 2008
Srinivas Institute of Technology
GHS Road, Mangalore 575001
Phone 0824-2425966 / 2421566 / 4268494
srinivasgroup@rediffmail.com, www.srinivasgroup.com
Ascent, The Times of India,
26th March 2008
GHS Road, Mangalore 575001
Phone 0824-2425966 / 2421566 / 4268494
srinivasgroup@rediffmail.com, www.srinivasgroup.com
Ascent, The Times of India,
26th March 2008
Simon India Ltd
Devika Tower, 6, Nehru Place, New Delhi 110019.
Simon India Ltd (SIL) is a design, engineering, consulting and EPC Company located in Delhi focussed on Chemical Process Industries, Power projects, pipeline projects, fertilizer projects etc. SIL belongs to the Zuari-Chambal-PPL Group of industries from the House of K K Birla.
SIL has a branch office in Saudi Arabia and a joint venture Engineering Company in Muscat, Oman.
SIL is executing several prestigious projects in India and overseas.
www.simonindia.in
Ascent, The Times of India
26th march 2008
Devika Tower, 6, Nehru Place, New Delhi 110019.
Simon India Ltd (SIL) is a design, engineering, consulting and EPC Company located in Delhi focussed on Chemical Process Industries, Power projects, pipeline projects, fertilizer projects etc. SIL belongs to the Zuari-Chambal-PPL Group of industries from the House of K K Birla.
SIL has a branch office in Saudi Arabia and a joint venture Engineering Company in Muscat, Oman.
SIL is executing several prestigious projects in India and overseas.
www.simonindia.in
Ascent, The Times of India
26th march 2008
Innova Life Sciences Pvt Ltd, focusing on innovation and technological superiority of products is launching rDNA human insulin, insulin delivery systems, rhgh, EOP, interferon, GCSF latest antibiotics, obesity products and oha’s through endocrine div, oncology div and institution div.
admin@innovalife.in
Ascent, Times of India
26th March 2008
admin@innovalife.in
Ascent, Times of India
26th March 2008
Energy Infratech is a team of engineering and management professionals, providing services for Design, Construction and Execution of energy infrastructure, with a focus on power generation projects. With project locations all over India. Energy Infratech;s Thermal Division operates out of Hyderabad and the Hydro Division out of Gurgaon.
The company’s team of over 350 engineering and management professionals are engaged in developing major hydro power projects located in the states of Sikkim, Arunachal Pradesh, Meghalaya and Himachal Pradesh, thermal projects in Andhra Pradesh & Chhattisgarh and a wind farm project in Gujarat.
Energy Infratech Pvt Ltd
15, NBCC Tower, IInd Floor, Bhikaji Cama Place, New Delhi 110066.
http://www.energyinfratech.com/
Times of India, Ascent
26th March 2008
The company’s team of over 350 engineering and management professionals are engaged in developing major hydro power projects located in the states of Sikkim, Arunachal Pradesh, Meghalaya and Himachal Pradesh, thermal projects in Andhra Pradesh & Chhattisgarh and a wind farm project in Gujarat.
Energy Infratech Pvt Ltd
15, NBCC Tower, IInd Floor, Bhikaji Cama Place, New Delhi 110066.
http://www.energyinfratech.com/
Times of India, Ascent
26th March 2008
Shriram Properties to invest Rs 500 crore in affordable housing plan:
BANGALORE: Real estate firm Shriram Properties (SPL) is set to hop onto the affordable housing bandwagon. The Bangalore-based firm proposes to invest over Rs 500 crore into mid-income housing projects that it will develop across India over the next 2-3 years. The first of these projects will be located off GST Road in Chennai at an investment of Rs 100 crore. “We see a huge demand for affordable housing in India, more so in tier-I cities. In a rapidly growing economy like ours, the services and ancillary industries employ thousands of executives. Not everyone can afford a home in the Rs 40-60-lakh bracket. We expect to sell apartments in the sub-Rs 30 lakh category,” said Shriram Properties managing director M Murali. The first project will see the company develop 2.2 million sq ft on a 35-acre plot-this includes 1,700 residential units priced between Rs 18-23 lakh. SPL will replicate this model across the country, picking up a 35-50 acre parcel for each of its projects. According to Mr Murali, the company is close to acquiring a second patch of land in Chennai for a similar project, while advance negotiations are underway for land parcels in Bangalore (near Devanahalli), Mangalore, Coimbatore, Madurai and Kolkata. A major source of funding for each will be through pre-sales, which would account for about 80% of the required funds. This apart, SPL’s upcoming ventures will also be backed by US-based realty investment major Walton Street Capital - the firm picked up a stake in SPL, at the enterprise level, last October.
13 Mar, 2008
BANGALORE: Real estate firm Shriram Properties (SPL) is set to hop onto the affordable housing bandwagon. The Bangalore-based firm proposes to invest over Rs 500 crore into mid-income housing projects that it will develop across India over the next 2-3 years. The first of these projects will be located off GST Road in Chennai at an investment of Rs 100 crore. “We see a huge demand for affordable housing in India, more so in tier-I cities. In a rapidly growing economy like ours, the services and ancillary industries employ thousands of executives. Not everyone can afford a home in the Rs 40-60-lakh bracket. We expect to sell apartments in the sub-Rs 30 lakh category,” said Shriram Properties managing director M Murali. The first project will see the company develop 2.2 million sq ft on a 35-acre plot-this includes 1,700 residential units priced between Rs 18-23 lakh. SPL will replicate this model across the country, picking up a 35-50 acre parcel for each of its projects. According to Mr Murali, the company is close to acquiring a second patch of land in Chennai for a similar project, while advance negotiations are underway for land parcels in Bangalore (near Devanahalli), Mangalore, Coimbatore, Madurai and Kolkata. A major source of funding for each will be through pre-sales, which would account for about 80% of the required funds. This apart, SPL’s upcoming ventures will also be backed by US-based realty investment major Walton Street Capital - the firm picked up a stake in SPL, at the enterprise level, last October.
13 Mar, 2008
Cobra Beer earmarks $80 m for expansion :
Bindu D. Menon
New Delhi, March 25 The UK-based Cobra Beer is looking at both the organic and inorganic mode to spawn growth in India. Upping its ante, the global beer major said it has earmarked $80 million for its expansion which includes adding two new breweries.
“We are looking at both acquisition and greenfield projects to strengthen our presence here. Our aim is to sell 20 million cases annually by 2012 in India,” Mr Karan Billimoria, founder-owner of Cobra Beer, told Business Line. The company currently has seven breweries in India in Goa, Bihar, Orissa, Madhya Pradesh, Uttar Pradesh, Rajasthan and Maharashtra. It is adding two new ones in Karnataka and Andhra Pradesh.Bullish on India
The beer major, with a global turnover of $400 million, said India is high on its radar for all its future expansions. “India will be a very important market in the future. It is also witnessing a high growth rate. We are in talks with a brewer for acquiring a majority stake, similar to the one we has acquired in Bihar — Iceberg,” he said adding “the process will take a couple of weeks before it can be announced.”
The company is also looking to introduce some of its premium brands in India, he said. Currently from its global portfolio of 35 SKUs, only four are present in the Indian market.
“The Indian beer market is slated to touch the 200-million-cases mark and we are targeting about 10 per cent of the market. In volume terms, India is bound to overtake UK in three years. This market can be tapped with niche variants such as premium and low-calorie beer,” Mr Billimoria added.
On banning of surrogate advertisements, he said prohibition has not worked in any market and the Government must realise that deregulating the industry will benefit the economy at large.
On the shortage of barley, Mr Billimoria said, the company was mulling the possibility of contract manufacturing of barley in the northern belt of the country to offset the shortage and thus having the backward integration advantage.
He said the company is also increasing its distribution channel, besides tapping the modern retail outlets. “Wherever we find opportunity, we will mark our presence.” Currently, the company is expanding its presence in southern India.
Mar 26, 2008
Bindu D. Menon
New Delhi, March 25 The UK-based Cobra Beer is looking at both the organic and inorganic mode to spawn growth in India. Upping its ante, the global beer major said it has earmarked $80 million for its expansion which includes adding two new breweries.
“We are looking at both acquisition and greenfield projects to strengthen our presence here. Our aim is to sell 20 million cases annually by 2012 in India,” Mr Karan Billimoria, founder-owner of Cobra Beer, told Business Line. The company currently has seven breweries in India in Goa, Bihar, Orissa, Madhya Pradesh, Uttar Pradesh, Rajasthan and Maharashtra. It is adding two new ones in Karnataka and Andhra Pradesh.Bullish on India
The beer major, with a global turnover of $400 million, said India is high on its radar for all its future expansions. “India will be a very important market in the future. It is also witnessing a high growth rate. We are in talks with a brewer for acquiring a majority stake, similar to the one we has acquired in Bihar — Iceberg,” he said adding “the process will take a couple of weeks before it can be announced.”
The company is also looking to introduce some of its premium brands in India, he said. Currently from its global portfolio of 35 SKUs, only four are present in the Indian market.
“The Indian beer market is slated to touch the 200-million-cases mark and we are targeting about 10 per cent of the market. In volume terms, India is bound to overtake UK in three years. This market can be tapped with niche variants such as premium and low-calorie beer,” Mr Billimoria added.
On banning of surrogate advertisements, he said prohibition has not worked in any market and the Government must realise that deregulating the industry will benefit the economy at large.
On the shortage of barley, Mr Billimoria said, the company was mulling the possibility of contract manufacturing of barley in the northern belt of the country to offset the shortage and thus having the backward integration advantage.
He said the company is also increasing its distribution channel, besides tapping the modern retail outlets. “Wherever we find opportunity, we will mark our presence.” Currently, the company is expanding its presence in southern India.
Mar 26, 2008
DLF IPL broadcaster Sony to make Rs 300 cr :
New Delhi, March 25 The media interest, the glamour quotient and the buzz managed by the BCCI’s DLF IPL has helped advertising spot rates climb to as much as Rs 3.25 lakh for Sony.
The broadcaster is all set to earn Rs 300 crore from the first season of 59 matches. It has already roped in Vodafone and Hyundai as presenting sponsors for deals worth Rs 22-26 crore each.
Associate sponsors on board for Rs 16-20 crore each are Coca-Cola, Max New York Life, Godrej and a fourth player that Sony representatives declined to name. The broadcaster has revised its plans to tie up six sponsors and will sell the remaining inventory of 400 secs during the 59 matches as spot buys. According to industry sources, the rates are going for Rs 2.5 lakh per 10 secs on an average. While bigger advertisers could be getting it at for as much as Rs 1.75 lakh, advertisers who are buying just 10-15 spots are willing to cough up as much as Rs 3.25 lakh, says a media buyer. There is that much interest for the property.
The rates have already beaten the Rs 1.8-2.1 lakh that ESPN earned per spot during its broadcast of ICC Twenty 20 World Cup which had generated unprecedented television audience ratings for the India-Pakistan finals.
Mar 26, 2008
New Delhi, March 25 The media interest, the glamour quotient and the buzz managed by the BCCI’s DLF IPL has helped advertising spot rates climb to as much as Rs 3.25 lakh for Sony.
The broadcaster is all set to earn Rs 300 crore from the first season of 59 matches. It has already roped in Vodafone and Hyundai as presenting sponsors for deals worth Rs 22-26 crore each.
Associate sponsors on board for Rs 16-20 crore each are Coca-Cola, Max New York Life, Godrej and a fourth player that Sony representatives declined to name. The broadcaster has revised its plans to tie up six sponsors and will sell the remaining inventory of 400 secs during the 59 matches as spot buys. According to industry sources, the rates are going for Rs 2.5 lakh per 10 secs on an average. While bigger advertisers could be getting it at for as much as Rs 1.75 lakh, advertisers who are buying just 10-15 spots are willing to cough up as much as Rs 3.25 lakh, says a media buyer. There is that much interest for the property.
The rates have already beaten the Rs 1.8-2.1 lakh that ESPN earned per spot during its broadcast of ICC Twenty 20 World Cup which had generated unprecedented television audience ratings for the India-Pakistan finals.
Mar 26, 2008
Monday, March 24, 2008
Global PE duo to invest $500 Mn in Unitech SPV:
New Delhi: Private equity players Lehman Brothers and Deutsche Bank will jointly invest $500 million in an SPV floated by Unitech, India's second most valued real estate developer, reported The Economic Times.A source close to the development says that the two PE players are in advanced stage of negotiations with Unitech to pick up a minority stake in the SPV formed to execute two commercial projects in Mumbai. The two projects, located in the Santa Cruz area of Mumbai, are likely to have a combined developable office space of 2 million square feet. The deal is expected to be closed in the next three weeks, according to the source.
This injection of fresh funds would come as a relief to Unitech, which recently put on hold its $1 billion qualified institutional placement (QIP) and listing of its Singapore Reit (Real Estate Investment Trust) due to poor market sentiments. The market volatility and the news that Unitech was putting off its QIP and Reit listing have severely affected company's stocks in the past couple of weeks. Unitech has lost almost half of its market cap since the beginning of the year. The Santa Cruz project may be one of the first to be completed by Unitech in Mumbai. The company has largely been an NCR player, with a good 70 percent of its revenue coming from this region. The Gurgaon based firm, however, is now foraying into other parts of the country, and, perhaps, more aggressively in Mumbai.Unitech had announced its entry in the Mumbai market last year with a 97 acre commercial project in Bandra-Kurla Complex. The likely Unitech-Lehman-Deutsche deal apparently drives home a point that although poor market conditions might have slowed down PE deals, big money is still following certain opportunities in India.
March 24, 2008
New Delhi: Private equity players Lehman Brothers and Deutsche Bank will jointly invest $500 million in an SPV floated by Unitech, India's second most valued real estate developer, reported The Economic Times.A source close to the development says that the two PE players are in advanced stage of negotiations with Unitech to pick up a minority stake in the SPV formed to execute two commercial projects in Mumbai. The two projects, located in the Santa Cruz area of Mumbai, are likely to have a combined developable office space of 2 million square feet. The deal is expected to be closed in the next three weeks, according to the source.
This injection of fresh funds would come as a relief to Unitech, which recently put on hold its $1 billion qualified institutional placement (QIP) and listing of its Singapore Reit (Real Estate Investment Trust) due to poor market sentiments. The market volatility and the news that Unitech was putting off its QIP and Reit listing have severely affected company's stocks in the past couple of weeks. Unitech has lost almost half of its market cap since the beginning of the year. The Santa Cruz project may be one of the first to be completed by Unitech in Mumbai. The company has largely been an NCR player, with a good 70 percent of its revenue coming from this region. The Gurgaon based firm, however, is now foraying into other parts of the country, and, perhaps, more aggressively in Mumbai.Unitech had announced its entry in the Mumbai market last year with a 97 acre commercial project in Bandra-Kurla Complex. The likely Unitech-Lehman-Deutsche deal apparently drives home a point that although poor market conditions might have slowed down PE deals, big money is still following certain opportunities in India.
March 24, 2008
Thursday, March 13, 2008
Eka Software to tap India, West Asia markets:
Bangalore-based Eka Software Solutions, a provider of commodity trade and risk management software for companies involved in export, import and trading activities, is looking at aggressively tapping into the India and West Asia markets.
Eka, derived from the word Ekam which means unified or integrated in Sanskrit, has already initiated talks with a few companies in these two geographies. The company, at present, draws 100 per cent of its revenues from Europe and the US, where it has a presence.
“Asia, a $100-million (approximately Rs 400 crore) market for the commodity trade and risk management (CTRM) software, is pretty much on our strategic road map. We are currently in talks with a few companies in this region including Sterilite and Hindalco. We expect to bag around 15 clients, including a couple of them that are into palm oil and rubber trading from Malaysia,” Manav Garg, founder and chief executive officer of Eka Software Solutions, told Business Standard.
With Asian companies realising the importance of adopting CTRM solutions, especially for futures and derivatives trading, Eka expects 20 per cent of its revenues to flow in from this emerging market in the next one to two years, he added.
Stating that the growing biofuels trading, predominantly in Brazil and the US, and the burgeoning metal prices have been fuelling Eka’s business, he said the company planned to double its headcount, from the present 95, during the next financial year to cater to this demand.
Founded in 2001, Eka Software Solutions had raised $6 million (approximately Rs 24 crore) from the GP Group of Bangkok in two rounds of funding between 2003 and 2005 to build its Eka product suite.
Its integrated software solutions enable companies reduce costs, manage risks and improve control over their operations. The company has a sales office in Amsterdam.
Business Standard, 14th March 2008
Bangalore-based Eka Software Solutions, a provider of commodity trade and risk management software for companies involved in export, import and trading activities, is looking at aggressively tapping into the India and West Asia markets.
Eka, derived from the word Ekam which means unified or integrated in Sanskrit, has already initiated talks with a few companies in these two geographies. The company, at present, draws 100 per cent of its revenues from Europe and the US, where it has a presence.
“Asia, a $100-million (approximately Rs 400 crore) market for the commodity trade and risk management (CTRM) software, is pretty much on our strategic road map. We are currently in talks with a few companies in this region including Sterilite and Hindalco. We expect to bag around 15 clients, including a couple of them that are into palm oil and rubber trading from Malaysia,” Manav Garg, founder and chief executive officer of Eka Software Solutions, told Business Standard.
With Asian companies realising the importance of adopting CTRM solutions, especially for futures and derivatives trading, Eka expects 20 per cent of its revenues to flow in from this emerging market in the next one to two years, he added.
Stating that the growing biofuels trading, predominantly in Brazil and the US, and the burgeoning metal prices have been fuelling Eka’s business, he said the company planned to double its headcount, from the present 95, during the next financial year to cater to this demand.
Founded in 2001, Eka Software Solutions had raised $6 million (approximately Rs 24 crore) from the GP Group of Bangkok in two rounds of funding between 2003 and 2005 to build its Eka product suite.
Its integrated software solutions enable companies reduce costs, manage risks and improve control over their operations. The company has a sales office in Amsterdam.
Business Standard, 14th March 2008
Domestic market shines for BPOs:
Indian export-oriented information technology (IT) and business process outsourcing (BPO) firms may be grappling with an appreciating rupee and clouds of doubt looming over the extension of tax sops for the sector beyond 2009.
However, the business of BPO firms that cater to the domestic market appears to be booming.
BPO demand in the domestic market has witnessed noticeable growth over the past few years.
An Everest-Nasscom study points out that the domestic BPO market, with a growth rate of 50 per cent over the last five years, has grown faster than the overall Indian BPO market to reach nearly $1.6 billion (Rs 6,400 crore) by end of FY2008, against an overall BPO revenue of around $11 billion.
The potential opportunity in the domestic BPO sector is expected to be $15-20 billion by 2012 compared with the $50 billion projected for the overall BPO sector by 2012.
Jimit Arora, senior research analyst, Everest Research Institute, notes there is a definite increase in the interest among vendors across the board to pursue the opportunity for domestic BPO.
Global IT services player IBM has already cannibalised the home turf by winning multi-million dollar deals in India. Taking the cue, BPO players too are gearing up for the exponential growth.
For instance, Infovision, India's third largest BPO firm catering primarily to the domestic market is looking to more than double its headcount to 25,000 over the next two years.
"We are currently a Rs 250 crore company with about 70 per cent of our business coming from domestic operations. We are aiming to increase this four-fold to Rs 1,000 crore by 2010," said Aditya Gupta, president, Infovision.
Added Ramachandra Panickar, CFO, Intelenet Global Services, "Our domestic BPO revenues are around Rs 240 crore. We expect the market to grow at over 50 per cent per annum in the next two years. We employ over 15,000 people across seven locations in India, which we plan to increase by 20 to 30 per cent a year".
"This market depends on the economies of scale. Many contracts are given on the basis of the reputation of the company. The country is going through an inflection point where the customers are willing to pay, but it is still at a growing stage so the companies are looking at bigger domestic players," said Aparup Sengupta, CEO and Managing Director of Aegis BPO.
Radhika Balasubramanian, COO - India Domestic BPO Business, Intelenet Global Services, noted: "The tremendous growth potential in the domestic BPO market and opportunity to derisk revenue model by providing a balance between international- domestic revenue have spurred international BPOs to enter the domestic market. We see a huge potential here. We have no intentions of making our international business more dominant than our domestic business."
Similar sentiments are echoed by Sengupta who said, "With consumer spending on the rise in India, our business will also receive an indirect boost, so we intend on keeping half our revenues coming for our domestic business."
Ameet Nivsarkar, VP, Nasscom added that the domestic BPO market has witnessed an over 40 per cent growth last year, and "we expect it to continue especially with the growing economy".
Is their optimism well-founded, given that BPOs do not get any tax benefits from their domestic revenues, and the income is taxed at the normal 33 per cent? The cost pressures on a domestic BPO are lower than the international businesses, notes Nivsarkar.
Moroever, their skill requirements are different. For a domestic BPO fluency in a local language as well as a national language is needed, due to which they can easily shift to a smaller city without much difficulty. This would help ease cost pressures as well.
Analysts also explain that catering to international markets give companies margin of at least 20 to 30 per cent whereas back home it is 12-13 per cent. However, while the margins of a domestic BPO are marginally lower than an international BPO, it’s the volume, size and scale that comprise the differentiating factors.
Anish Zaveri, associate director, KPMG Advisory, explains: "The two main investments in any BPO are infrastructure and manpower. These are relatively less expensive for a domestic BPO given the lower salary structure, lower cost of training and business development expenses. They also have the ability to move to lower cost tier-2 and tier-3 cities with greater ease."
The salary structure for a domestic BPO employee is almost 30-35 per cent lower than an international BPO employee.
He adds: "The efficiency rate in the domestic BPO space is also much higher than its international counterpart. Utilisation ratios are also better. All these factors culminate to lower capital costs."
Moreover, as the country reaches new high points in its various industries like telcom, retail and hospitality it throws up new opportunities for the domestic BPOs as well.
Business Standard, 14th March 2008
Indian export-oriented information technology (IT) and business process outsourcing (BPO) firms may be grappling with an appreciating rupee and clouds of doubt looming over the extension of tax sops for the sector beyond 2009.
However, the business of BPO firms that cater to the domestic market appears to be booming.
BPO demand in the domestic market has witnessed noticeable growth over the past few years.
An Everest-Nasscom study points out that the domestic BPO market, with a growth rate of 50 per cent over the last five years, has grown faster than the overall Indian BPO market to reach nearly $1.6 billion (Rs 6,400 crore) by end of FY2008, against an overall BPO revenue of around $11 billion.
The potential opportunity in the domestic BPO sector is expected to be $15-20 billion by 2012 compared with the $50 billion projected for the overall BPO sector by 2012.
Jimit Arora, senior research analyst, Everest Research Institute, notes there is a definite increase in the interest among vendors across the board to pursue the opportunity for domestic BPO.
Global IT services player IBM has already cannibalised the home turf by winning multi-million dollar deals in India. Taking the cue, BPO players too are gearing up for the exponential growth.
For instance, Infovision, India's third largest BPO firm catering primarily to the domestic market is looking to more than double its headcount to 25,000 over the next two years.
"We are currently a Rs 250 crore company with about 70 per cent of our business coming from domestic operations. We are aiming to increase this four-fold to Rs 1,000 crore by 2010," said Aditya Gupta, president, Infovision.
Added Ramachandra Panickar, CFO, Intelenet Global Services, "Our domestic BPO revenues are around Rs 240 crore. We expect the market to grow at over 50 per cent per annum in the next two years. We employ over 15,000 people across seven locations in India, which we plan to increase by 20 to 30 per cent a year".
"This market depends on the economies of scale. Many contracts are given on the basis of the reputation of the company. The country is going through an inflection point where the customers are willing to pay, but it is still at a growing stage so the companies are looking at bigger domestic players," said Aparup Sengupta, CEO and Managing Director of Aegis BPO.
Radhika Balasubramanian, COO - India Domestic BPO Business, Intelenet Global Services, noted: "The tremendous growth potential in the domestic BPO market and opportunity to derisk revenue model by providing a balance between international- domestic revenue have spurred international BPOs to enter the domestic market. We see a huge potential here. We have no intentions of making our international business more dominant than our domestic business."
Similar sentiments are echoed by Sengupta who said, "With consumer spending on the rise in India, our business will also receive an indirect boost, so we intend on keeping half our revenues coming for our domestic business."
Ameet Nivsarkar, VP, Nasscom added that the domestic BPO market has witnessed an over 40 per cent growth last year, and "we expect it to continue especially with the growing economy".
Is their optimism well-founded, given that BPOs do not get any tax benefits from their domestic revenues, and the income is taxed at the normal 33 per cent? The cost pressures on a domestic BPO are lower than the international businesses, notes Nivsarkar.
Moroever, their skill requirements are different. For a domestic BPO fluency in a local language as well as a national language is needed, due to which they can easily shift to a smaller city without much difficulty. This would help ease cost pressures as well.
Analysts also explain that catering to international markets give companies margin of at least 20 to 30 per cent whereas back home it is 12-13 per cent. However, while the margins of a domestic BPO are marginally lower than an international BPO, it’s the volume, size and scale that comprise the differentiating factors.
Anish Zaveri, associate director, KPMG Advisory, explains: "The two main investments in any BPO are infrastructure and manpower. These are relatively less expensive for a domestic BPO given the lower salary structure, lower cost of training and business development expenses. They also have the ability to move to lower cost tier-2 and tier-3 cities with greater ease."
The salary structure for a domestic BPO employee is almost 30-35 per cent lower than an international BPO employee.
He adds: "The efficiency rate in the domestic BPO space is also much higher than its international counterpart. Utilisation ratios are also better. All these factors culminate to lower capital costs."
Moreover, as the country reaches new high points in its various industries like telcom, retail and hospitality it throws up new opportunities for the domestic BPOs as well.
Business Standard, 14th March 2008
Nadathur may exit Cades:
Raghuvir Badrinath & Bibhu Ranjan Mishra / Chennai/ Bangalore March 14, 2008
Nadathur Holdings, an investment firm established by N S Raghavan, co-founder and former managing director of Infosys, is looking to exit Cades Digitech, a Bangalore-based product design and engineering services firm. Nadathur Holdings is understood to be holding a majority stake in Cades.
According to industry sources, Cades has a topline of around $20 million and Nadathur is looking to exit the firm at an enterprise valuation of little over $30 million. No comments were available from Nadathur Holdings.
Cades offers a complete range of design, analysis, virtual prototyping and product lifecycle management services to aerospace, automotive and heavy engineering industries.
The services, apart from design and analysis, include simulation, manufacturing design, configuration management and product data management. The company employs around 400 people.
Presently, 20-30 per cent of Cades’ revenue comes from automotive and around 70 per cent from defence sector. Cades competes with the likes of Hyderabad-based Infotech Enterprises, Bangalore-based Quest besides a few others in this sector which is expected to see tremendous growth as a result of the defence offset clause of the Indian government.
According to industry information, Cades is among the companies which is on the radar to be a vendor for Airbus engineering centre in Bangalore. Cades, along with Quest, Satyam, Infosys, HCL are expected to be housed as part of a large campus being set up by Airbus in Bangalore near the new Bangalore International Airport.
Nadathur Holdings has invested in companies focussed on information technology, healthcare, life sciences and engineering services.
The company in addition to Cades has invested in MediAssist, Spice Route, Indegene Lifesystems, Metahelix besides a few others. Industry estimates that the valuations of the all the investments by Nadathur Holdings will be around $500 million.
Business Standard, 14th March 2008
Raghuvir Badrinath & Bibhu Ranjan Mishra / Chennai/ Bangalore March 14, 2008
Nadathur Holdings, an investment firm established by N S Raghavan, co-founder and former managing director of Infosys, is looking to exit Cades Digitech, a Bangalore-based product design and engineering services firm. Nadathur Holdings is understood to be holding a majority stake in Cades.
According to industry sources, Cades has a topline of around $20 million and Nadathur is looking to exit the firm at an enterprise valuation of little over $30 million. No comments were available from Nadathur Holdings.
Cades offers a complete range of design, analysis, virtual prototyping and product lifecycle management services to aerospace, automotive and heavy engineering industries.
The services, apart from design and analysis, include simulation, manufacturing design, configuration management and product data management. The company employs around 400 people.
Presently, 20-30 per cent of Cades’ revenue comes from automotive and around 70 per cent from defence sector. Cades competes with the likes of Hyderabad-based Infotech Enterprises, Bangalore-based Quest besides a few others in this sector which is expected to see tremendous growth as a result of the defence offset clause of the Indian government.
According to industry information, Cades is among the companies which is on the radar to be a vendor for Airbus engineering centre in Bangalore. Cades, along with Quest, Satyam, Infosys, HCL are expected to be housed as part of a large campus being set up by Airbus in Bangalore near the new Bangalore International Airport.
Nadathur Holdings has invested in companies focussed on information technology, healthcare, life sciences and engineering services.
The company in addition to Cades has invested in MediAssist, Spice Route, Indegene Lifesystems, Metahelix besides a few others. Industry estimates that the valuations of the all the investments by Nadathur Holdings will be around $500 million.
Business Standard, 14th March 2008
Serena Software Licenses Application:
Serena Software has licensed software applications under Creatvie Commons licenses, using a range of copyright licenses designed to protect creative work and encourage certain uses of that work. By licensing its free, pre-built Business Mashups through Creative Commons, and encouraging other software companies to do the same, Serena aims to build an online ecosystem that fosters the creation and sharing of new approaches to solving common business problems.
Business Standard, 14th March 2008.
Serena Software has licensed software applications under Creatvie Commons licenses, using a range of copyright licenses designed to protect creative work and encourage certain uses of that work. By licensing its free, pre-built Business Mashups through Creative Commons, and encouraging other software companies to do the same, Serena aims to build an online ecosystem that fosters the creation and sharing of new approaches to solving common business problems.
Business Standard, 14th March 2008.
SMEI opens India Chapter:
Sales and Marketing Executives International (SMEI), a worldwide knowledge-growth and relationship building forum for sales and marketing executives, opened its India Chapter here today.
With over 50 affiliate chapters around the world, members would benefit from both the strength of an international organisation and the resources the local organisation provided through ongoing seminars, lectures and network opportunities.
Business Standard, 14th March 2008
Sales and Marketing Executives International (SMEI), a worldwide knowledge-growth and relationship building forum for sales and marketing executives, opened its India Chapter here today.
With over 50 affiliate chapters around the world, members would benefit from both the strength of an international organisation and the resources the local organisation provided through ongoing seminars, lectures and network opportunities.
Business Standard, 14th March 2008
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