
From the desk of Strategic Resources For any query, discussion or feedback, please contact Pavan Chandra, Head of Strategic Resources at pchandra@zenithoptimediaindia.com, +91-124-4195100. Office Address effective May 25, 2007 : 10th Floor, Vatika Tower, Block-B, Sector 54 Gurgaon -122002, Haryana, India.

Volume: II

May 25, 2007

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Real Estate

Share Prices

NSE share prices as on May 15, 2007

Sales and Market Share

185. Sobha Developers Q4 PAT At Rs 62 Cr – May 15

Sobha Developers reports profit of Rs 62 Cr for Q4

Sobha Developers reported a profit of Rs 61.9 crore for the quarter ended March 31 2007, against Rs 36.5 crore for the Q4’06. For the year ended March 31’07, the company recorded a profit of Rs 161.5 crore and total income (net of excise) of Rs 1,189.4.

Source: The Economic Times

Trends, Marketing Initiatives and Others

186. Parsvnath Work At Games Site – May 14

Parsvnath to commence work at the Commonwealth Games site

Parsvnath Developers will soon start work for a metro station-cum-shopping mall at the Commonwealth Games village site in Delhi. The Rs 160 crore mall and station are expected to be developed over 7.30 acres and completed by 2009. Parsvnath has entered into concession agreements to develop shopping malls on 11 stations owned by the Delhi Metro Railway Corporation on a build-operate-transfer basis.

Source: The Hindu Business Line

187. Shobha Plans Townships In 26 Cities – May 14

Shobha Developers plans to establish townships in 26 cities

Shobha Developers Limited (SDL) plans to construct integrated townships in 26 major cities across India. According to PNC Menon, Chairperson, SDL, the group has identified 13 cities to begin with. In 2007, seven such projects would commence and other projects would be announced according to the availability of land. The group has purchased land in 13 cities including Bangalore, Hosur, Mysore, Chennai, Coimbatore, Pune, Delhi, Thrissur and Kochi.

Source: Business Standard

188. Realtors Go On Advertising Binge – May 14

Massive advertising by realtors

Across media, be it television, print, outdoor or the internet, real estate companies, such as Ansal, Parsvnath, Unitech and Omaxe, have been making their presence felt. According to Sanjay Dutt, Deputy Managing Director of real estate advisor Cushman and Wakefield (India), the ad spends of most developers has increased by 100 to 200%. Kunal Banerji, Vice-President, Marketing, Ansal API, claims that the company will spend Rs 14 to 15 crores for above-the-line marketing, and is also planning campaigns on the internet and international sales exercises. Similarly, Parsvnath spends approximately 65 to 70% of its advertising budget on print media, 5 to 7% on radio and the rest on TV.

Source: The Hindu Business Line

189. Sahara Infrastructure Plans 217 Townships – May 11

Sahara likely to launch 217 new townships

Lucknow-based Sahara Infrastructure and Housing (SIH), part of the Sahara Group, is planning to develop approximately 11,000 hectares for 217 townships across the country. The projects will be spread over 100 to 300 acres each, and together will have 30.3 lakh sq m of built-up commercial area and 1008.4 lakh sq m of built up residential area. In its first phase, the company is planning to develop 102 townships and the remaining 115 in the second phase.

Source: The Hindu Business Line

190. Ansal Pact With UAE Co – May 10

Ansal partners with UAE Co

Delhi-based Ansal Properties & Infrastructure Ltd has entered into an agreement with Deyaar Development PSC, a real estate company in the UAE, for the development of a mega mixed use Township in North India. The project will comprise residential, commercial, institutional and industrial properties in India. Deyaar has agreed to take up to 40% stake in the project.

Source: The Hindu Business Line

191. India Is Hot Property... – May 08

Real Estate prices in India increase by 40 to 50% in 2006

According to a new study conducted by Wealth Report 2007, conducted by real estate consultancy Knight Frank and Citi Private Bank, the real estate rates in India, along with those in Russia and China, increased by 40 to 50 % in 2006. The report points to the growing influence of high-net worth individuals – defined as those with $10 million (Rs 40 crore) in investable assets – on the global property market. According to Pranay Vakil, Chairperson, Knight Frank India, "India's most expensive residential properties, at an average of Rs 50,000 per sq ft, would be in Mumbai. This includes properties such as the Chattan Bungalow on Malabar Hill or Sunita Apartments on Napean Sea Road”.

Source: Hindustan Times

192. Excess Supply To Hit Real Estate – May 07

Bull run in real estate to slowdown

According to a study on commercial real estate space conducted by real estate consultancy major DTZ, cites, such as Delhi, Bangalore, Chennai, Pune, Kolkata and Hyderabad, except Mumbai, will have an oversupply of 20 to 200% of estimated demand in 2007. Mumbai will continue to have supply shortage. The study also found that rising capital & rental values and easy availability of capital have led to the start of a large number of projects at major locations. The increased pace of supply of quality commercial real estate is likely to outstrip the demand in the short-to-medium term.

Source: The Times of India

193. Modi Buildwell To Set Up IT Park, 3-Star Hotel – May 01

3-Star Hotel and IT park to be set up near Gandhinagar

The Ahmedabad-based Himalaya Group’s real estate development division Modi Buildwell Ltd is entering into IT parks and integrated townships. The company has bought a 22-acre land for an IT park and integrated township at Koba circle near Gandhinagar. IT has also partnered with Taj Hotels Resorts and Palaces to establish a three-star hotel ‘Ginger’ at its newly-built ‘Himalaya Mall’ on Drive-in road in Ahmedabad.

Source: Business Standard

194. Trinity Eyes Realty, To Invest $3 Billion – May 01

Trinity to invest $3 billion in Real Estate

In the coming three to five years, the London Stock Exchange (AIM)-listed Trinity Capital will invest $3 billion in real estate-related projects in India. Trinity has committed and invested $1 billion in India across five sectors – hospitality, commercial & residential real estate, retail and urban rejuvenation – along with its partner IL&FS, with which it has partnered to invest £238 million.

Source: Business Standard

195. Hypo Real Estate Invests Rs 380cr In Tanglin – April 19

Rs 380 crore raised by Tanglin Development

Tanglin Development, a real-estate venture floated by V. G. Siddhartha (who also runs the Cafe Coffee Day chain), has raised Rs 380 crore from Hypo Real Estate Bank International, which is a member of German-based Hypo Real Estate Group and manages billions of dollars in assets. The funds were raised to finance and develop two million sq.ft of additional IT office space at Global Tech Park in Bangalore.

Source: Business Standard

196. IDEB To Invest Rs 600 Cr In Pune Realty – April 18

IDEB to invest in Pune realty

Bangalore-based construction and engineering player IDEB Group has planned to invest in Pune’s realty sector. The group has planned a six million sq.ft residential project Villagio Toscana, which will include luxury housing units. It has also signed a takeover deal for a city-based service apartment property, and will make it operational within the coming six months.

Source: Business Standard

197. Townships, New Mantra For Real Estate Developers – April 16

Real estate developers move towards townships

In Chennai, increasingly real estate developers are launching integrated township projects. This is evident since a wide range of real estate projects were launched on the Tamil New Year' day. Some of the projects include Estancia (a joint venture between Arun Excello and L&T), the Hiranandani Upscale (a residential township by the Mumbai-based Hiranandani Constructions) and a lifestyle apartment complex Puravankara Swan Lake (by Puravankara Projects Ltd). These are high-end apartment blocks in Rs 40 lakh and upwards range.

Source: The Hindu Business line

Product Launches

198. First Integrated Township Launched At Thrissur – May 14

On May 12, 2007, Bangalore-based Sobha Developers Ltd (SDL) announced the launch of its first integrated township ‘Sobha City’ in Kerala at Thrissur. The project will be spread in 55 acres of land in Puzhakkal and require an investment of Rs 850 crore.

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