Mumbai-based real estate developer Godrej Properties has tied-up to develop a premium residential villa project in Electronic City, Bengaluru
Godrej Properties Ltd (GPL) the real estate development arm of the Godrej Group, announced a tie-up with Universal Builders, wherein GPL will act as the development manager, for developing approximately 0.4 million sq. ft of premium residential villas, spread over 14.5 acres at Electronic City, Bengaluru.
The project is envisioned as a premium villa development with modern specifications and will offer a range of luxurious amenities to its residents including a state-of-the-art club house and a swimming pool. GPL will receive 11% of the total revenue from this development as development manager fees.
The project has the advantage of being strategically located in Electronic City in proximity to prime residential, retail and commercial areas. The site is located close to NH 7 and NICE road which offers excellent connectivity to the south and west of Bengaluru.
Pirojsha Godrej, executive director, Godrej Properties, said, “We are pleased to have entered an agreement for our sixth residential project in Bengaluru. The key strategic goal for the company is to build our presence across India's important real estate markets and this development fits in well with our strategy. We look forward to creating an outstanding villa development right in Electronic City.”
In the late afternoon, Godrej Properties was trading at around Rs672 per share on the Bombay Stock Exchange, 1.11% up from the previous close.
Navin Fluorine’s net profit jumps 1,062% to Rs58.82 crore; Total revenue at Rs192 crore; Declares interim dividend of Rs8.50 per share
Navin Fluorine International Ltd, a part of Arvind Mafatlal Group, reported net profit of Rs58.82 crore for the quarter ended 30 September 2011 compared to Rs5.53 crore in corresponding period of last fiscal year, registering a whopping 1062% jump.
The increase in net profits was not only due to higher carbon income but also due to underlying businesses performing exceptionally well. Net revenue for the quarter stood at Rs192 crore, registering a growth of 145% compared to Rs78.41 crore posted in the same period of the last fiscal year. Earnings per share (EPS) stood at 60.26 as compared to 5.48 in the corresponding period of the previous year. The company’s board has also declared an interim dividend of Rs8.50 per share of Rs10 each per share.
Shekhar Khanolkar, managing director, Navin Fluorine International Ltd said “The impressive performance of the company in the first two quarters clearly manifests our leading position in the speciality fluorochemicals industry. We will continue to invest in R&D and manufacturing facilities which will help us to increase our product offerings to our existing and new customers on sustained basis.”
In the late afternoon, Navin Fluorine was trading at around Rs397.85 per share on the Bombay Stock Exchange, 0.43% down from the previous close.
Kapil is a chartered accountant with over 13 years of experience working with organizations such as, General Electric, Ernst & Young, & Infosys
Prime Focus Technologies (PFT), the global digital content services provider, has announced the appointment of Kapil Gupta as VP of Program Management.
This new role has been created as part of the expansion of the company’s management team to help meet global demand for the end-to-end services and solutions offered by PFT. Recent major project wins across the globe, and technological advances such as the implementation of PFT’s pioneering domain centric cloud model, which connects broadcasters, content suppliers and play out origination centres, have cemented the need for this expansion.
Kapil’s responsibilities as VP of program management include providing leadership for all strategic programs related to PFT’s service offerings, including the award-winning Clear technology platform, digitisation and media processing. He moves to PFT from leading IT services organization Steria, where he worked as senior vice president and was responsible for business verticals and leading a team of 800. Kapil is a chartered accountant with over 13 years of experience working with organizations such as, General Electric, Ernst & Young, & Infosys.