First past the post
Suven Life Science’s focussed approach on drug discovery in the central nervous system (CNS) is helping it make more headway than any other research company in the drug industry. Suven has recently secured a product patent for its new molecule SUVN-502 from India, Mexico, South Africa, Singapore, New Zealand, South Korea, Australia and Europe. SUVN-502 has completed phase I studies and is entering into phase II stage of clinical research. This molecule is a clinical candidate for Alzheimer’s disease and schizophrenia and can corner a major market share in the $110-billion CNS therapy arena. Global CNS therapies include anti-psychotic, anti-depressant, anti-epileptic and auto-immune drugs accounting for $22.8 billion ($14.69 billion in 2004), $ 20.3 billion ($20.64 billion in 2004), $16.9 billion ($11.57 billion in 2004) and $15.9 billion ($ 6.7 billion in 2004) market size respectively in 2008.
 
The company spends around 25% of sales on drug discovery which is one of the highest among drug companies. Industy’s average R&D expenditure is around 4% of total sales. The company spent Rs 35 crore on drug research in 2008-09 including Rs 29 crore in recurring expenditure. The company is doing research in six CNS categories targeting conditions such as ADHD, dementia, depression, Huntington’s disease, Parkinson’s disease and obesity.
- Dhruv Rathi [email protected]
 
 
 
 
 
Like this story? Get our top stories by email.

User

Real estate developers jack up prices despite a pile-up of inventories
Despite a much improved market scenario, real estate inventories are piling up with builders. Undeterred, they are launching new projects. In the second quarter of this financial year (Q2 FY10) inventories have gone up by 20%. Last quarter (Q1 FY10) the inventories in six cities (Mumbai, NCR Delhi, Bengaluru, Pune, Chennai and Hyderabad) were a total of 2,82,999 units.
 
“From October onwards you will again see a drop in price of properties by 15%-20% as the developers have lot of inventories logged up. On top of that, they are increasing prices, encouraged by a more buoyant market,” said Pankaj Kapoor, founder and chief executive officer, Liases Foras, a property research firm.
 
In Mumbai as many as 68,000 units are unsold. In NCR Delhi it is 70,000 units, Bengaluru has 48,000 unsold units, Pune has 44,000 unsold units, Chennai has unsold units of 21,000 and Hyderabad has 31,999 unsold units.
 
Thanks to a slight recovery in the real estate sector, most of the builders increased prices by 10%-20% which has subdued sales. “In Pune, around 200 new projects have been further launched between June 2009–September 2009. We are foreseeing the same kind of situation across the six cities,” said Mr Kapoor.
 
During Dushera to Diwali most of the developers launch new projects. The inventories are increasing sharply and to reduce the inventories, the developers have to cut down on the prices and make their properties more affordable for the masses.
 
In Mumbai, properties beyond Borivali, were selling at Rs 2,000 per sq ft. The left-over properties are now priced at Rs 2,800 per sq ft. In central Mumbai properties sold at Rs 13,475 per sq ft, but the left-over properties are now priced at Rs 24,950 per sq ft. “Until developers do not bring down prices, properties are not going to sell,” said Mr Kapoor.
- Pallabika Ganguly [email protected]
 
Like this story? Get our top stories by email.

User

Prozone to earn Rs 40 crore-Rs 50 crore lease rental from Aurangabad mall
Prozone Enterprises (P) Ltd, a retail real estate development company and a wholly owned subsidiary of Provogue India, will be earning lease rental revenue of Rs 40 crore-Rs 50 crore per year from the first mall at Aurangabad, assuming that the lease rental is between 6%-10% of total annual revenue, according to industry sources. The project is built on8,30,000 sq ft area of retail space.
 
According to Nikhil Vora, managing director-research, IDFC SSKI Securities Ltd, “the mall will generate Rs 500 crore-Rs 600 crore of revenue per year.”
 
“The handovers of the stores will commence from beginning of 2010 and the occupation in the mall will start by July 2010,” said Nikhil Chaturvedi, managing director, Prozone Enterprises (P) Ltd.
 
The company is planning to build 50 Prozone shopping malls with an investment of $1 billion over the next five years, said Chaturvedi. The company is developing more than 12 million sq ft of modern retail space in India, primarily in tier-II cities such as Raipur, Jaipur, Indore, Mysore and Aurangabad.
 
The anchor tenants (Hypercity, Shoppers Stop, Globus, Westside, and Big Cinemas) are satisfied with the structure of the mall. “The structure is built up in a unique way keeping in mind tier 2 cities. I think it should do very well in these cities,” said B S Nagesh, vice-chairman, Shoppers Stop.
 
The company has already sold 80% of the stores in the mall. “After the success of their project at Aurangabad, the company will be soon be coming up with malls in Indore, Jaipur and other tier-II cities,” said Mr Chaturvedi.
 
 
Like this story? Get our top stories by email.

User

COMMENTS

imran khan

8 years ago

Superb, u gave a new look 2 aurangabad thanx.

Harshith

8 years ago

when will u finish the construction of prozone mall in mysore??????

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)