Hinduja group to invest Rs 6,200 crore in India across sectors like real estate and media
Feb 07, 2014
Source : The Economic Times

 

GREATER NOIDA: Looking for opportunities in India despite economic slowdown, diversified Hinduja Group today said it would invest a billion dollars (about Rs 6,200 crore) across sectors like real estate and media.

"We are looking for various opportunities. Recession is the time when you can break opportunities to invest," Hinduja Group India Chairman A P Hinduja told reporters here on the sidelines of Auto India here.

"We are looking at various different sectors for investment which we are offered by various investment bankers. Very soon you would see that we may target few more investments," he said.

When asked as to how much could be the amount of investments, he said: "Over all investment will be about a billion dollar."

He did not share a timeframe for these investments. On sectors where the group plans to make these investments, he said it could cover real estate, health sector, media, power and others.

The group already has presence in sectors such as banking & finance, transport, energy (oil & power) as well as technology, media and telecom.

Bullish on the long-term potential of India, Hinduja Group Global Chairman G P Hinduja said the group is sticking with its plans for the country.

"We are a long term player. We do not see this downfall a permanent one. So whatever has been targetted we have been sticking to that," he said.

On the group's progress in the power sector, he said it is confident of meeting the target of 10,000 MW power as its power plant at Vishakhapatnam is set for commissioning by the end of April or early May.

"We went through lots of hardships but finally it is completed and now there are three brown(field) projects which are in the pipeline, which we would be completing. Our target of 10,000 MW remains intact without scaling down," he said.

G P Hinduja further said: "Because of the recession we have been able to find ready made projects which we call brown (field) projects and three of them would be completed very soon. This will fasten our target of completing 10,000 MW."

When asked about the current political climate in India and as to who could form the new government, he said: "In my opinion whosoever comes, it should be a stable government. The stable government is always good for economy and for the new investors to come in."

He also took a neutral stand on who would be a better leader for India -- Rahul Gandhi or Narendra Modi.

"They both have pluses and minuses. Mr Modi is coming with lot of experiences in administration, in implementation. He has proved himself. Here (with Gandhi) there is youth and zeal and enthusiasm and he has grown up in a family which is embroidered with politics. So we have to watch the scene. The scene is very excitinng to see what is happening."

 

 

 

 

Latest Realty News

Gurgaon, Noida land price may fall with fresh supply in Delhi
Feb 07, 2014
DELHI: Land prices in Gurgaon and Noida could fall as over 70,000 acre is likely to come in the Delhi market because of DDA's new land pooling policy, property consultant CBRE said today.
Smart housing for technology integrating lifestyles
Feb 06, 2014
DELHI: Engaged with climbing disposable salaries, the blossoming white collar class of the nation is driving the interest for enhanced work environments and homes that can give them chances to lead better lifestyles, while tending to their need for maintainability, productivity and purpose. On account of the developments in innovation and advancement, the realty sector is ready to distinguish and tap the business sector chances rising out of these requests to convey generous budgetary, natural a
Ghaziabad is the top residential hub of NCR
Feb 06, 2014
DELHI: Ghaziabad is going through a phase of rapid economic growth with huge investments being made in various sectors. Ghaziabad is being touted as one of the fastest growing cities in India with its thriving real estate market being a prime attraction.
Godrej Properties seeks shareholder nod to invest Rs 565 crore
Feb 06, 2014
DELHI: Godrej Properties LtdBSE 1.19 % has sought shareholders' approval to invest up to Rs 565 crore in its subsidiaries that are executing realty projects.
Tata Housing gold vouchers for buying homes in womens' name
Feb 06, 2014
DELHI: Tata Housing today announced an offer of gold vouchers worth Rs 49,000 to buyers who book flats in the name of women in its Rs 600 crore project in Bhubaneswar.
Realty firms find fertile ground in education
Feb 05, 2014
DELHI: Real estate may be on a slow lane but education is booming, thanks to India’s huge demographic advantage.
Experts, pharma firms doubt US intellectual property ranking; India lowest among 25 countries
Feb 05, 2014
DELHI: Intellectual property experts and generic drug firms in India have questioned the methodology and even the motive behind the US Chamber of Commerce's Global Intellectual Property Centre (GIPC) index in which the nation has been ranked the lowest among 25 countries.
Vikram Bakshi sells assets to create legal battle against McDonald's
Feb 05, 2014
DELHI: McDonald's estranged India partner Vikram Bakshi has sold two prime retail properties and is in the process of selling a third one in Delhi's Connaught Place as he prepares for a prolonged and expensive legal battle with the US burger chain.
Billionaires and Millionaires Dominate Rajya Sabha 2014
Feb 05, 2014
DELHI: Democracy is an abundance of riches, as the worth of the new occupants of the Upper House benches is being revealed in the run up to Rajya Sabha 2014. Thirty-six out of 55—over 70 per cent—are crorepatis. Property is one of the major wealth factors listed and many of the new candidates are businessmen who have entered politics or vice versa. Bihar might be one of the poorest states in India and seeking special category status, but the richest candidate in the new pantheon of Elders is sec
Sahara lines up Rs 32,400 cr investment; 56,000 new jobs
Feb 05, 2014
DELHI: Sahara group, whose legal battle with Sebi continues in Supreme Court over refund of over Rs 20,000 crore to investors, has made a surprise announcement of plans being afoot to hire over 56,000 new employees this year along with investments to the tune of nearly Rs 32,400 crore.

Latest Realty News Of State

Realty Talk's