3. CONSTRUCTION INDUSTRY
COMPANY COMPARISON
SINCE 1971. LAND BANK STARTED AS DELHI LAND
OF OVER 14,500 ACRES. AND FINANCE IN 1946.
PRIMARILY ACTIVE IN LAND BANK IN 32 CITIES.
NCR (NOIDA) MOST ACTIVE IN NCR
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4. CONSTRUCTION INDUSTRY
COMPANY COMPARISON
SINCE 1971. LAND BANK STARTED AS DELHI LAND
OF OVER 14,500 ACRES. AND FINANCE IN 1946.
PRIMARILY ACTIVE IN LAND BANK IN 32 CITIES.
NCR (NOIDA) MOST ACTIVE IN NCR
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6. INDIA’S LARGEST REAL ESTATE DEVELOPMENT COMPANY - 39,369 CRORE
RUPEES TOTAL ASSETS (2009)
HEADED BY KUSHAL PAL SINGH DESCENDENT OF THE COMPANY’S
FOUNDERS
COMPANY HAS USED ASSETS OBTAINED IN DELHI AND GURGAON TO
EXPAND TO OTHER INDIAN MARKETS INCLUDING MUMBAI, TAMIL NADU
AND BANGALORE
CREATING JOINT VENTURES WITH FIRMS SUCH AS LAING O’ROURKE (UK
CONSTRUCTION COMPANY) FOR ALL LANDMARK PROJECTS, AND HILTON
HOTELS FOR HOTEL VENTURES
FOCUSING ON STRENGTHENING ITS LATERAL AND VERTICAL BUSINESS
DRIVERS
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8. CLAIMS TO BE INDIA’S SECOND LARGEST REAL-ESTATE
INVESMENT COMPANY - 10,538 CRORE RUPEES TOTAL ASSETS
(MARCH 2009)
FOUNDED IN 1971 BUT FOCUSED WHOLLY ON REAL-ESTATE
SINCE 1986
DIVERSIFYING INTO TELECOMS IN COOPERATION WITH
NORWAY’S TELENOR GROUP
ENVISION FOR 50% GROWTH PER YEAR SINCE 2008
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9. ECONOMIC ANALYSIS
In recent years the Indian economy has been, and expects to
continue to grow at a rate of approx 8% until 2020.
Deregulation and positive demographic trends combined with
attractive economic investment opportunities have meant that
the Indian economy has been growing amongst the fastest in the
world, has experienced positive FDI (recently crossing $100bn
since 2000).
An increasing balance of payments gap, with current account
deficit of $37.2 in 2008-9 (OECD figures) and a challenging
macroeconomic environment (inflation of 13% at August 2008),
26% fall in value of Rupee, and major disruption to Real Estate
sector.
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10. SECTOR ANALYSIS
The Real Estate sector was amongst the worst hit by the
global slowdown started by Lehman Brothers’ collapse in
2008.
Uncertainty and job losses inhibited many people from
purchasing new homes, while uncertain and unfavourable
trading conditions pushed companies to delay capital intensive
projects. Real Estate requires both high capital investment and
economic security, thus fell victim to current crisis.
Economic indicators have improved (inflation back to 5% end
2008), while urbanisation and sector demand projection
promise a rapid return to health in 2009.
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33. INVENTORY EVALUATION
ANALYSIS
Unitech:
Materials etc are valued at lower of cost or market value
Scrap valued at Net realizable value
Work in Progress valued at estimated cost.
Shuttering and tools valued at amortized cost, spread over 3 years
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34. INVENTORY EVALUATION
ANALYSIS
DLF:
Land and plots at the commencement of construction are valued at lower
of cost/ estimated cost and net realizable value.
Constructed properties other than Special Economic Zone (SEZ) projects is
valued at lower of cost/ estimated cost and net realizable value
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