DLF’s net profit up 76% at Rs 436.56 crore in Q4 FY19
NEW DELHI: Realty major DLF on Tuesday reported a 76 per cent jump in its consolidated net profit at Rs 436.56 crore for the quarter ended March on higher sales. Its net profit stood at Rs 247.73 crore in the year ago period, the company said in a regulatory filing. Total income rose to Rs […]
ITBP expresses displeasure over delay in construction of residential quarters by CPWD
NEW DELHI: Indo-Tibetan Border Police (ITBP) Inspector General Vijay Kumar Singh has expressed displeasure over the slow pace of construction of residential quarters and barracks by the CPWD. In a letter to the Central Public Works Department (CPWD) Director General, Prabhakar Singh, last week, Singh said out of the 1,970 residential quarters sanctioned in 2016-17, […]
About 72 complaints received against builders in Delhi under RERA: RTI
NEW DELHI: As many as 72 complaints have been received against builders in Delhi under the central real estate law, according to an RTI reply. According to the Delhi Real Estate Regulatory Authority (RERA), out of 72 complaints, 24 have been resolved till last week. Only 16 real estate projects have so far been registered […]
Bank of Baroda narrows Q4 loss to Rs 991 crore, NPA provisions at Rs 5,550 crore
NEW DELHI: State-owned Bank of Baroda on Wednesday reported narrowing of its net loss to Rs 991 crore in the March 2019 quarter. The bank had posted a net loss of Rs 3,102.34 crore in the similar January-March period of fiscal 2017-18. However, compared sequentially, there was a net profit of Rs 471.25 crore during […]
RIL topples IOC to become the biggest Indian company in revenue terms
NEW DELHI: Richest Indian Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Limited (RIL) has toppled state-owned Indian Oil Corp (IOC) to become the country’s biggest company by revenue. Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 trillion. In comparison, IOC posted a turnover of Rs 6.17 trillion for […]
Hinduja Group evaluating opportunity to invest in debt-ridden Jet airways
NEW DELHI: Diversified Hinduja Group is evaluating opportunity to invest in Jet Airways, which has been grounded for more than a month now. Lenders to the full service carrier, which temporarily shuttered operations on April 17 as it ran out of cash, are looking for possible suitors. While the SBI-led lenders’ consortium is still working […]
Delhi High Court dismisses Dewan Chand Builders’ plea on attachment of properties
By Anish Singh NEW DELHI: The Delhi High Court on Tuesday dismissed a plea filed by Dewan Chand Builders challenging the attachment of its properties in Delhi by the Provident Fund department. In its ruling, Delhi High Court judge Justice J R Midha also asked the petitioner to pay 20 per cent of the pending […]
Anil Ambani to withdraw defamation suits against Congress, Herald
NEW DELHI: Anil Ambani’s Reliance Group has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal. The suits were being heard in the court of city civil and sessions judge […]
L&T buys 73,953 shares of Mindtree, hikes shareholding to 26.53%
NEW DELHI: Infrastructure major Larsen and Toubro (L&T) on Monday acquired 73,953 shares of Mindtree from open market, taking its shareholding in the IT services firm to 26.53 per cent, according to a regulatory filing. “Larsen and Toubro Ltd has acquired 73,953 equity shares (with a face value of Rs 10 each) of Mindtree Ltd […]
Puravankara posts 58% jump in net profit at Rs 38.78 crore in Q4 FY19
NEW DELHI: Realty firm Puravankara Ltd has posted 58 per cent increase in its consolidated net profit at Rs 38.78 crore for the quarter ended March 2019. The company had reported a net profit of Rs 24.55 crore in the same quarter of FY18. The firm’s revenue jumped over two folds to Rs 667.08 crore […]
RBI asks large NBFCs to appoint CROs with fixed tenure
NEW DELHI: The country’s shadow banks with more than Rs 5,000 crore ($714 million) in assets must appoint a chief risk officer (CRO), the Reserve Bank of India (RBI) said, as it tightens regulations after a series of defaults by a single lender last year. “With the increasing role of NBFCs in direct credit intermediation, […]
IHCL ties up with Singapore’s GIC to invest Rs 4,000 crore in hotel acquisitions
MUMBAI: Tata Group’s hospitality arm IHCL said it has tied up with Singapore’s sovereign wealth fund GIC to invest Rs 4,000 crore to acquire hotels. The Indian Hotels Company (IHCL) will put in 30 per cent equity in every such acquisition, while the rest will come from GIC, according to an official statement. Investments will […]
Jet Airways employees raise their demands outside Civil Aviation Ministry
NEW DELHI: Employees of cash-strapped Jet Airways protested outside the Civil Aviation Ministry on Tuesday, demanding revival of the airline and payment of their pending salaries. The protests come amid the struggles of State Bank of India-led consortium of lenders to find a buyer for the airline which ceased operations around mid-last month due to […]
IKEA’s strategic partner Ingka Group invests in Livspace
NEW DELHI: Home design and renovation platform Livspace said IKEA’s strategic partner Ingka Group has invested an undisclosed sum in the India-based company. “Ingka Investments, the investment arm of Ingka Group (Ingka Holding B.V and its controlled entities), has made a minority investment in the company. Ingka Group is a strategic partner in the IKEA […]
Sensex vaults 1,422 points as exit polls predict NDA win
NEW DELHI: Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections. The 30-share index ended 1,421.90 points, or 3.75 per cent, higher at 39,352.67. During the day, the […]
Placio to target 100 properties in the next 24 months
NEW DELHI: Moving ahead with aggressive expansion plans, Placio, a leading technology-based student housing Management Company has entered into partnership and franchise model for expanding its Pan-India network. Placio is the first player in the space to enter into this unique business idea for its aggressive reach all over India. Targeting 10,000 beds on Pan-India […]