After affordable homes, K Raheja plans low-cost villas

K Raheja Corp is planning to launch low-cost villas in Hyderabad, Pune and Goa for around Rs45 lakh-Rs65 lakh

After foraying into affordable homes, K Raheja Corp is targeting affordable villas. The company is planning to come up with villas within the approximate price range of Rs45 lakh-Rs65 lakh in Pirangut at Pune, Kadamba at Goa and in Hyderabad.
In Hyderabad, the company is yet to shortlist the location for its project. “The villa market is doing well. Wherever villas are affordable and are at reasonable rates, they are selling. We expect to do a soft launch of affordable villas within the next four months at Pune, Goa and Hyderabad,” said a company spokesperson.

The spokesperson did not want to divulge the details of the projects. However, he said that the soft launch of the Pune project will take place by March. He added that the villas will be built over approximately 100 acres of land, and will individually be more than 3,000 sq ft.

K Raheja Corp is also launching other projects. It is launching ‘Vivarea’ in Koramangala (Bengaluru) by this month. The project is an integrated luxury township built over an area of approximately one million sq ft. “We have still not done a soft launch of the project, but we have a waiting list of customers for the township. After we are on the ground with all the permissions required, we will be marketing our project,” said the spokesperson.

Currently, the company has six ongoing residential projects at Mumbai, Pune and Hyderabad. It is planning to come up with five new projects in these cities.

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    Puneet khanna

    9 years ago

    Buy appartnment not more than45 lakh buy

    Provogue to enter FMCG market; will tie up with JL Morison

    Provogue India is signing a joint venture deal with FMCG distributor JL Morison for the distribution of its body-care products

    Apparel retailer Provogue India is all set to enter the fast-moving consumer goods (FMCG) market with its body-care products and will soon sign a joint venture agreement with FMCG distributor JL Morison (India) Ltd, said Salil Chaturvedi, promoter- director, Provogue.

    During the first two years, Provogue will invest about Rs10 crore in the joint venture, Mr Chaturvedi said. Provogue is likely to hold more than 50% stake in the joint venture.

    Provogue will not manufacture the body-care products, but will only be branding them. The products will range from deodorants, perfumes, skin care and other personal care products.

    “We are in talks with JL Morison for body-care products. JL Morison will help in sourcing and will front-end distribution of the product,” said Mr Chaturvedi.

    The company is planning to sell the products through the mass-market channel and is looking at reaching 12,000- 15,000 outlets. “We are pricing the products at a little premium. We are planning to stock at least 30 products and we are targeting a turnover of Rs50 crore in the next three to five years,” Mr Chaturvedi added.

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    Will the T Rowe Price-UTI synergy work?

    The past performances of global funds have been modest in India. They cannot help Indian funds raise money abroad either because an alliance between a foreign and an Indian fund is of limited value

    Almost all top foreign fund houses are vying for a share of the investors’ money, but their average assets under management (AUM) and performance are nothing to write home about. One area where foreign funds could have made a difference is giving the Indian consumers an option to get exposure to global markets through funds that invest in foreign securities.

    However, a cursory glance through the track record of some of the global funds launched in the past reveals a lack of substantial AUM and poor fund performance.

    Out of 19 global funds launched since 2006, eight funds have underperformed and seven have outperformed while the remaining four funds have a benchmark for which data is not available in the public domain.

    Kotak Global Emerging Market (Rs242 crore in corpus) and Fortis China-India (Rs97.28 crore) have been the worst performers. The net asset values (NAVs) of these funds, since inception, have declined 4% and 7% respectively. Their respective benchmarks, the MSCI Emerging Markets Index, was up 17% while the BSE 200 has declined 2%. The NAVs of DSP BlackRock World Gold (Rs1,455.52 crore in corpus) and DSP BlackRock World Energy (Rs394.31 crore) have gained 13% and 9% respectively, while their benchmarks—prices of gold and MSCI World Index—have gained 28% and 14% respectively. The performance and growth of some foreign controlled funds such as JP Morgan, Principal and Fortis has been rather poor. Recently, the Japanese bank, Shinsei Bank, has decided to exit from India.

    If this is the result of foreign funds’ expertise, the question that remains is what difference can a global fund company make to Indian investors’ investments? Certainly, bringing in fund management expertise to managing the money of the Indian masses is not what we can look forward to. This assumes significance after the latest entry of a foreign fund company into India, when T Rowe Price (TRP) finalised the acquisition of 26% stake in UTI Mutual Fund.

    One other way a foreign fund company can help an Indian fund is to market Indian offshore funds to overseas investors. UK Sinha, chairman of UTI, believes that this strategic tie-up with T Rowe UTI will be able to market the ‘UTI India Fund’ which is not very well known overseas, in a better way. UTI is also planning to launch an ‘Emerging Markets Fund’ which will be marketed by Rowe globally while domestic operations will be under UTI. But the days of offshore funds are over long ago, after India allowed foreign investors to come directly into India through the FII (Foreign Institutional Investor) route. TRP’s investors are all already in India through a variety of means.

    UTI is the oldest and one of the largest mutual funds in India with average Assets Under Management aggregating to Rs78,203 crore ($16.96 billion) in December 2009. It’s the first AMC in the Indian MF industry to have crossed 1 crore investor accounts. TRP’s transaction values UTI at Rs2,500 crore, roughly 3.5% of the AUM. During the boom, Indian funds were valued at more than 6% of AUM.

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    1 decade ago

    I am afraid this 'contract' or 'convenience' marriage will not suit our taste.Basically, I am not in favour of investing thru MFs. I prefer direct investment in the market that has given me much superior returns. I maintain, if I lose money,it is because of my decision, if I make money, it is my money. why Fund Manager live n enjoy on my money? If he fails I have no way to punish him. How many sc hemes of UTI have been closed n investors suffered? See US 64, only when there was furore (even my Left Friends suffered) and there was bailout for it.So I follow my own path. F.Manager can be lured to pickup something by vested issuers, that is not possible with me. So I say "no thanks".

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