For the quarter ended Q3 FY15, Net sales of the company rose to 17.31% y-o-y at Rs15262.70 million against Rs13010.10 million in the corresponding quarter of the previous year. Net profit Jumps to 15.36% y-o-y of Rs1596.58 million in Q3 FY15 against Rs. 1383.95 million in the corresponding quarter of the previous year.
Dewan Housing Finance: Net profit jumps 14.96% in Q4; Maintain buyIndiaNotes.com
Dewan Housing Finance Corporation Ltd. (DHFL) reported its financial results for the quarter ended March 31, 2015. Net sales rose 11.63% to Rs. 15808.10 million compared to the previous year. Net profit increased 14.96% to Rs. 1622.82 million. Loan disbursements and sanctions for the quarter were Rs. 62913.50 million and Rs. 93868.50 million respectively. The company recommended a final dividend of Rs. 2.00 per share and expects net sales and profit to grow at a CAGR of 15% and 13% from 2014 to 2017.
Can Fin Homes Ltd reported financial results for the quarter ended June 30, 2015, with net sales of Rs. 2425.30 million, a 37.8% increase year-over-year, and net profit of Rs. 321.01 million, a 69.33% increase. The company provides loans for housing and non-housing purposes through a network of over 100 branches across India, and financial projections estimate continued revenue and profit growth over the next few years.
PFC Q4FY15: Surplus scenario likely to continue for next three yearsIndiaNotes.com
Power Finance Corporation Ltd (PFC) reported financial results for Q4 FY15 with a 13.44% increase in net sales to Rs. 63895.70 million. Net profit grew 10.58% to Rs. 15607.60 million. Loan assets increased 15.09% to Rs. 2175160.00 million. PFC is recommended as a "BUY" with a target price of Rs. 300 based on expected 16% and 12% CAGR in top-line and bottom-line over FY2014-17E.
Coral India Finance: Buy for medium to long-term investmentIndiaNotes.com
Coral India Finance and Housing Ltd reported strong results for Q4 FY15, with net profit increasing 482% YoY to Rs. 25.66 million. Net sales increased 253% YoY to Rs. 57.99 million in Q4. For FY15, net profit grew 54% to Rs. 103.21 million and net sales increased 42% to Rs. 193.70 million. The company is engaged in finance and construction businesses and operates projects in multiple cities. The report recommends buying the stock with a target price of Rs. 66, citing favorable valuation and growth prospects over the next 3 years.
Benchmark indices closed lower led by a sharp fall in PSU banks. The Nifty was down 38.90 points at 10,500.90 as Nifty PSU Bank declined 5% with PNB falling over 10%. Asian markets also closed lower with Nikkei down 2.38% and Hang Seng down 3.2%. DLF reported reducing its debt to Rs. 5,513 cr. and aims to become debt-free by FY19 through fund infusion by promoters. Tata Power's Q3 profit is expected to decline 22% to Rs. 466 cr. due to higher interest costs and a tax reversal in the previous year.
Tturing and demergehis report helps in understanding corporate restructuring and demerger concept via Max India. It gives insight on the demerger and also critically analysis the after effects of the demerger.
On 16 March 2012, the Honorable Finance Minister of India presented in the Parliament the country's Finance Bill for 2012-13, containing proposals on direct and indirect taxes, and key policy initiatives.
In this regard, with pleasure we are presenting our annual India Budget publication. The publication summarizes the key changes announced by the Finance Minister in his speech.
Most direct tax proposals in the Finance Bill 2012 are proposed to be effective from the financial year commencing on 1 April 2012 unless specified otherwise and indirect tax proposals are effective immediately, unless specified otherwise
We hope you find it an interesting and informative read.
Team SPN
INDIAN ECONOMY LOOKING FOR DIRECTION FOR INDIA TO SHINE AGAINNeha Sharma
The Indian economy is in the threshold of a big leap towards India shining once again, but the main stumbling block being a sense of confusion about government policies, scarcity of low cost adequate money for funding further investments and most importantly India Inc. awaiting for specific policy decisions and creative actions in the areas which has been adversely impacted due to lack of policy initiative.
Dewan Housing Finance: Net profit jumps 14.96% in Q4; Maintain buyIndiaNotes.com
Dewan Housing Finance Corporation Ltd. (DHFL) reported its financial results for the quarter ended March 31, 2015. Net sales rose 11.63% to Rs. 15808.10 million compared to the previous year. Net profit increased 14.96% to Rs. 1622.82 million. Loan disbursements and sanctions for the quarter were Rs. 62913.50 million and Rs. 93868.50 million respectively. The company recommended a final dividend of Rs. 2.00 per share and expects net sales and profit to grow at a CAGR of 15% and 13% from 2014 to 2017.
Can Fin Homes Ltd reported financial results for the quarter ended June 30, 2015, with net sales of Rs. 2425.30 million, a 37.8% increase year-over-year, and net profit of Rs. 321.01 million, a 69.33% increase. The company provides loans for housing and non-housing purposes through a network of over 100 branches across India, and financial projections estimate continued revenue and profit growth over the next few years.
PFC Q4FY15: Surplus scenario likely to continue for next three yearsIndiaNotes.com
Power Finance Corporation Ltd (PFC) reported financial results for Q4 FY15 with a 13.44% increase in net sales to Rs. 63895.70 million. Net profit grew 10.58% to Rs. 15607.60 million. Loan assets increased 15.09% to Rs. 2175160.00 million. PFC is recommended as a "BUY" with a target price of Rs. 300 based on expected 16% and 12% CAGR in top-line and bottom-line over FY2014-17E.
Coral India Finance: Buy for medium to long-term investmentIndiaNotes.com
Coral India Finance and Housing Ltd reported strong results for Q4 FY15, with net profit increasing 482% YoY to Rs. 25.66 million. Net sales increased 253% YoY to Rs. 57.99 million in Q4. For FY15, net profit grew 54% to Rs. 103.21 million and net sales increased 42% to Rs. 193.70 million. The company is engaged in finance and construction businesses and operates projects in multiple cities. The report recommends buying the stock with a target price of Rs. 66, citing favorable valuation and growth prospects over the next 3 years.
Benchmark indices closed lower led by a sharp fall in PSU banks. The Nifty was down 38.90 points at 10,500.90 as Nifty PSU Bank declined 5% with PNB falling over 10%. Asian markets also closed lower with Nikkei down 2.38% and Hang Seng down 3.2%. DLF reported reducing its debt to Rs. 5,513 cr. and aims to become debt-free by FY19 through fund infusion by promoters. Tata Power's Q3 profit is expected to decline 22% to Rs. 466 cr. due to higher interest costs and a tax reversal in the previous year.
Tturing and demergehis report helps in understanding corporate restructuring and demerger concept via Max India. It gives insight on the demerger and also critically analysis the after effects of the demerger.
On 16 March 2012, the Honorable Finance Minister of India presented in the Parliament the country's Finance Bill for 2012-13, containing proposals on direct and indirect taxes, and key policy initiatives.
In this regard, with pleasure we are presenting our annual India Budget publication. The publication summarizes the key changes announced by the Finance Minister in his speech.
Most direct tax proposals in the Finance Bill 2012 are proposed to be effective from the financial year commencing on 1 April 2012 unless specified otherwise and indirect tax proposals are effective immediately, unless specified otherwise
We hope you find it an interesting and informative read.
Team SPN
INDIAN ECONOMY LOOKING FOR DIRECTION FOR INDIA TO SHINE AGAINNeha Sharma
The Indian economy is in the threshold of a big leap towards India shining once again, but the main stumbling block being a sense of confusion about government policies, scarcity of low cost adequate money for funding further investments and most importantly India Inc. awaiting for specific policy decisions and creative actions in the areas which has been adversely impacted due to lack of policy initiative.
The document discusses several business news headlines from India, including Indiabulls merging its NBFC arm with its housing finance unit, Forum Synergies making its debut investment of $3 million in Captronic Systems, and Nagpur Automotive buying Adhunik Metaliks' forging arm for $44 million. It also provides more details on some of these deals, discusses India's trade deficit increasing and services sector slowing, and covers other economic news like Hindustan Unilever's earnings growth and beer consumption falling in Australia.
Can Fin Homes Ltd (NSE Code - CANFINHOME) - May'13 Katalyst Wealth Alpha reco...Katalyst Wealth
Housing Finance companies have played a very vital role in the last 10 odd years in helping individuals buy their dream homes. We believe, besides getting your houses financed, one can also consider starting investing at a young age in fundamentally strong, fast growing and reasonably valued companies from the Housing finance space so as to reduce the quantum and the tenure of your home loan at the time of buying your house.
HDFC, Gruh Finance, LIC Housing Finance are some of the very well known listed Housing Finance companies, however we would like to share details with you on another
Housing Finance stock i.e. Can Fin Homes Ltd (NSE Code – CANFINHOME) which until recently was growing at 7-8%, however the renewed focus from the management and the aggressive branch expansion promises better growth prospects for the next few years.
Can Fin Homes Ltd (NSE Code – CANFINHOME) – Promoted by Canara Bank (42.38% stake), Can Fin pre-dominantly offers loans for home purchase, home construction, home improvement/extension and site purchase as well as non-housing finance loans such as
Personal loans, Child education loans, etc. Housing loans constitute ~98% of the advances of the company.
Divi’s Laboratories Better business model in comparison to other Indian healthcare companies, Narnolia Securities Limited positive for the stock and recommend BUY with target price of Rs 1350 as well as for Godrej Consumer due to 20%+ growth in the domestic market. Also we advice our investors to book part profit at the current level of Axis bank.
This document provides an annual report and analysis of Raymond Textiles for 2010-2011. Key points include:
- Liquidity and turnover ratios show the company has stable financial position and is recovering credits and utilizing raw materials efficiently.
- Profitability declined from 2010 to 2011 due to a workers' settlement cost.
- The textile industry faced challenges from fluctuating raw material prices but government initiatives are boosting growth.
- Raymond remains the market leader in India and is expanding its retail network and market share. Exports remained flat due to competition and input cost rises.
- The company manages risks from foreign exchange, interest rates, and commodity prices and ensures environmental and safety compliance.
This document summarizes key aspects of the Bank and Financial Institution Act (BAFIA) 2073 passed in Nepal. It outlines the historical context of banking acts in Nepal. It then discusses disputes around BAFIA 2073 and why it was formulated. Some of the key changes introduced in BAFIA 2073 include provisions around board of directors qualifications and tenure, CEO qualifications, classification of banks, and restrictions on certain individuals serving on boards. Full implementation of BAFIA 2073 is expected to take around one year. Some issues around adapting banking regulations to federalism in Nepal and balancing CEO and board powers still need to be addressed.
Singer Bangladesh Limited is a subsidiary of The Singer Bhold BV, Netherlands and is one of the largest retailers of consumer durables and electronics in Bangladesh. Its key revenue drivers are refrigerators and televisions. Financial performance declined in 2013 due to increased costs and political turmoil, with net profit falling 22% despite a 1% decline in sales. In the first half of 2014, sales grew 19% while net profit fell 7% due to higher production costs. The company currently manufactures televisions, motorcycles, cables and furniture.
Future Capital Holdings (FCH) is a financial services provider in India with over Rs. 7.57 billion in net worth that aims to leverage its parent company Pantaloon Retail's large retail presence. FCH has brought on V. Vaidyanathan, a highly experienced banking executive, as its new Vice Chairman and Managing Director to lead its expansion into consumer and wholesale financing businesses. The company intends to significantly grow its balance sheet and deliver returns to shareholders by capitalizing on the large untapped market opportunities in India's growing financial sector.
Comparative Analysis of Financial Statement OfIT industriesPranav Veerani
Comparative Analysis of Financial Statement
OfIT industries
INTERNATIONAL ACCOUNTING PRACTICES
GRADUATE SCHOOL OF MANAGEMENT STUDIES
Comparative Analysis
Introduction of IT industry
TCS
Infosys Limited
HCL Technologies
Wipro Ltd
Tech Mahindra Ltd.
Comparative of company
Gujarat Technological University, Ahmadabad
Academic Year: 2018-20
INDIAN ECONOMY: CHALLENGES AND EXPECTATIONSNeha Sharma
The Reserve Bank of India has recently released a small dose of liquidity by reducing Cash Reserve Ratio (CRR) by 0.5% for the commercial banks. Government borrowings have swallowed significant resources from the banking sector in recent months. The Liquidity with banking sector is still a major issue.
The annual report summarizes Cholamandalam Investment and Finance Company Limited's performance for the 2016-17 fiscal year. It notes that despite temporary slowdown due to demonetization, the company performed well with profit after tax growing 26% to Rs. 719 crore. Total assets grew 15% to Rs. 36,984 crore and disbursements increased 13% to Rs. 18,591 crore. The vehicle finance business disbursed Rs. 14,471 crore, a 17% growth, with profit before tax up 23%. The report discusses the company's expansion of branches, new digital initiatives, and growth of other business segments including home loans and SME financing.
GIC Housing Finance Ltd (GICHF) was incorporated as ‘GIC Grih Vitta Limited’ on 12th December 1989. The name was changed to GICHF on 16th November 1993. It’s promoted by well known domestic re-insurer General Insurance Corporation (GIC) and is a well-known company in India’s Housing Finance market.
The Company was formed with the objective of entering into the field of direct lending to individuals and other corporate to accelerate the housing activities in India. The primary business of GICHF is granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes.
We like the company on account of its steady well managed growth in a growing market. The company has become slightly aggressive in terms of expansion into states other than Maharashtra and has been consistently adding new branches outside Maharashtra. The company also seems to have managed its loan book well and has made adequate provisions. GICHF is trying to reduce the share of bank borrowings and the same will help in reducing cost of funds with consequent improvement in net interest margins (NIM).
Reliance Industries Telecom arm Infotel Broadband Services is negotiating to borrow an additional $1.5 billion to fund operations and equipment purchases. Standard Chartered Private Equity plans to sell part of its 13.7% stake in auto component maker Endurance Technologies through a proposed IPO to expand operations and pay down debt. ICICI Bank raised $1 billion through a 10-year bond sale carrying a 7.5% coupon rate, the largest such offering by an Indian bank in over three years.
Idea Cellular Ltd. is recommended as a buy with a price target of Rs. 185-230. The technical outlook is positive as the stock has taken support at Rs. 130 and is trending higher. Company outlook is also positive due to expected robust subscriber growth, improving EBITDA margins, and potential value unlocking from hiving off its tower business. On the financial front, net sales increased 64% YoY while EBITDA and PAT grew 69% and 259% YoY respectively due to margin expansion and lower costs.
Gold prices may reach Rs 22,000/10 gms by the end of the year due to large cash holdings by mutual funds waiting to invest and a lack of attractive options in the Eurozone and US economies. India lost $27 billion in cancelled merger deals this year, mostly from failed Reliance deals. The government expects to raise Rs 19,000 crore by the end of the fiscal year by selling stakes in ONGC and IOC. The RBI is expected to raise interest rates by 25 basis points at its next policy meeting. India dropped in the global competitiveness ranking to 51st due to weaknesses in education, health and infrastructure, despite strengths in financial markets and innovation. Vodafone remains confident it
The document is an investor presentation announcing the merger of Bharat Financial Inclusion Limited (BFIL) and IndusInd Bank (IBL). The key points are:
1) BFIL will merge into IBL through a share swap. BFIL shareholders will receive 639 shares of IBL for every 1,000 shares of BFIL, representing a 12.6% premium.
2) BFIL's microfinance operations will be transferred to a wholly owned subsidiary of IBL, which will act as a business correspondent.
3) The merger creates a large combined network of over 3,600 branches and outlets, and addresses the financial inclusion gap through the complementary strengths of both companies. Estimated
The equity markets in India were flat for the week. The government approved 49% foreign investment in insurance and pensions, though the bills require parliamentary approval. Other reforms announced include a central infrastructure authority and changes to the Companies Bill. Inflation remains high, and the RBI will likely maintain a hawkish stance on monetary policy. Exports fell nearly 10% in August while imports fell 5%, leaving a large trade deficit. Global factors like a falling unemployment rate in the US and ongoing debt issues in Europe were also noted.
The document provides a summary of various business news stories:
- Piramal buys an additional stake in Vodafone India while Essar exits completely.
- India Homes, a property services startup, raises $4 million in funding with plans to raise another $6 million.
- SBI waives fees on loans to small and medium businesses guaranteed under a government credit guarantee scheme.
- Halcyon Finance acquires the management rights to a Delhi hospital for $77 million.
Narnolia Securities Limited initiated KPIT stock at a CMP of Rs 115 (14 Jan 2013) and now, it achieved its target of Rs 177. We advice to book profit on the stock because of its premium valuation. For information visit our website http://www.narnolia.com/
- Indus Edutain Pvt Ltd achieved targeted funds from various Indian states like Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir, Daman & Diu, and Dadra & Nagar Haveli for their National Skills Qualifications Framework (NSQF) project despite the challenges of COVID-19. They received a total of over 30 crore rupees.
- A new Vocational Lab Project was also successfully achieved, bringing in over 7 crore rupees total.
- Key highlights included successful completion of the Vocational Lab project and receiving full payment for the NSQF project. Lowlights included the need to improve industrial tie-ups and develop
Prior to the BAFTAs, we conducted research on historical film data in order to produce an editorial infographic bitesizes visualising nominees that would resonate with our audience and fellow film buffs.
El documento describe el chorizo gallego, un embutido curado hecho principalmente de carne de cerdo picada y adobada con especias como el pimentón. Explica la historia del chorizo desde sus orígenes en la prehistoria hasta su popularidad en la antigua Roma y su posterior expansión a Europa y América. También incluye una receta detallada para hacer chorizos caseros rellenando tripas naturales con la mezcla de carne y especias.
The document discusses several business news headlines from India, including Indiabulls merging its NBFC arm with its housing finance unit, Forum Synergies making its debut investment of $3 million in Captronic Systems, and Nagpur Automotive buying Adhunik Metaliks' forging arm for $44 million. It also provides more details on some of these deals, discusses India's trade deficit increasing and services sector slowing, and covers other economic news like Hindustan Unilever's earnings growth and beer consumption falling in Australia.
Can Fin Homes Ltd (NSE Code - CANFINHOME) - May'13 Katalyst Wealth Alpha reco...Katalyst Wealth
Housing Finance companies have played a very vital role in the last 10 odd years in helping individuals buy their dream homes. We believe, besides getting your houses financed, one can also consider starting investing at a young age in fundamentally strong, fast growing and reasonably valued companies from the Housing finance space so as to reduce the quantum and the tenure of your home loan at the time of buying your house.
HDFC, Gruh Finance, LIC Housing Finance are some of the very well known listed Housing Finance companies, however we would like to share details with you on another
Housing Finance stock i.e. Can Fin Homes Ltd (NSE Code – CANFINHOME) which until recently was growing at 7-8%, however the renewed focus from the management and the aggressive branch expansion promises better growth prospects for the next few years.
Can Fin Homes Ltd (NSE Code – CANFINHOME) – Promoted by Canara Bank (42.38% stake), Can Fin pre-dominantly offers loans for home purchase, home construction, home improvement/extension and site purchase as well as non-housing finance loans such as
Personal loans, Child education loans, etc. Housing loans constitute ~98% of the advances of the company.
Divi’s Laboratories Better business model in comparison to other Indian healthcare companies, Narnolia Securities Limited positive for the stock and recommend BUY with target price of Rs 1350 as well as for Godrej Consumer due to 20%+ growth in the domestic market. Also we advice our investors to book part profit at the current level of Axis bank.
This document provides an annual report and analysis of Raymond Textiles for 2010-2011. Key points include:
- Liquidity and turnover ratios show the company has stable financial position and is recovering credits and utilizing raw materials efficiently.
- Profitability declined from 2010 to 2011 due to a workers' settlement cost.
- The textile industry faced challenges from fluctuating raw material prices but government initiatives are boosting growth.
- Raymond remains the market leader in India and is expanding its retail network and market share. Exports remained flat due to competition and input cost rises.
- The company manages risks from foreign exchange, interest rates, and commodity prices and ensures environmental and safety compliance.
This document summarizes key aspects of the Bank and Financial Institution Act (BAFIA) 2073 passed in Nepal. It outlines the historical context of banking acts in Nepal. It then discusses disputes around BAFIA 2073 and why it was formulated. Some of the key changes introduced in BAFIA 2073 include provisions around board of directors qualifications and tenure, CEO qualifications, classification of banks, and restrictions on certain individuals serving on boards. Full implementation of BAFIA 2073 is expected to take around one year. Some issues around adapting banking regulations to federalism in Nepal and balancing CEO and board powers still need to be addressed.
Singer Bangladesh Limited is a subsidiary of The Singer Bhold BV, Netherlands and is one of the largest retailers of consumer durables and electronics in Bangladesh. Its key revenue drivers are refrigerators and televisions. Financial performance declined in 2013 due to increased costs and political turmoil, with net profit falling 22% despite a 1% decline in sales. In the first half of 2014, sales grew 19% while net profit fell 7% due to higher production costs. The company currently manufactures televisions, motorcycles, cables and furniture.
Future Capital Holdings (FCH) is a financial services provider in India with over Rs. 7.57 billion in net worth that aims to leverage its parent company Pantaloon Retail's large retail presence. FCH has brought on V. Vaidyanathan, a highly experienced banking executive, as its new Vice Chairman and Managing Director to lead its expansion into consumer and wholesale financing businesses. The company intends to significantly grow its balance sheet and deliver returns to shareholders by capitalizing on the large untapped market opportunities in India's growing financial sector.
Comparative Analysis of Financial Statement OfIT industriesPranav Veerani
Comparative Analysis of Financial Statement
OfIT industries
INTERNATIONAL ACCOUNTING PRACTICES
GRADUATE SCHOOL OF MANAGEMENT STUDIES
Comparative Analysis
Introduction of IT industry
TCS
Infosys Limited
HCL Technologies
Wipro Ltd
Tech Mahindra Ltd.
Comparative of company
Gujarat Technological University, Ahmadabad
Academic Year: 2018-20
INDIAN ECONOMY: CHALLENGES AND EXPECTATIONSNeha Sharma
The Reserve Bank of India has recently released a small dose of liquidity by reducing Cash Reserve Ratio (CRR) by 0.5% for the commercial banks. Government borrowings have swallowed significant resources from the banking sector in recent months. The Liquidity with banking sector is still a major issue.
The annual report summarizes Cholamandalam Investment and Finance Company Limited's performance for the 2016-17 fiscal year. It notes that despite temporary slowdown due to demonetization, the company performed well with profit after tax growing 26% to Rs. 719 crore. Total assets grew 15% to Rs. 36,984 crore and disbursements increased 13% to Rs. 18,591 crore. The vehicle finance business disbursed Rs. 14,471 crore, a 17% growth, with profit before tax up 23%. The report discusses the company's expansion of branches, new digital initiatives, and growth of other business segments including home loans and SME financing.
GIC Housing Finance Ltd (GICHF) was incorporated as ‘GIC Grih Vitta Limited’ on 12th December 1989. The name was changed to GICHF on 16th November 1993. It’s promoted by well known domestic re-insurer General Insurance Corporation (GIC) and is a well-known company in India’s Housing Finance market.
The Company was formed with the objective of entering into the field of direct lending to individuals and other corporate to accelerate the housing activities in India. The primary business of GICHF is granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes.
We like the company on account of its steady well managed growth in a growing market. The company has become slightly aggressive in terms of expansion into states other than Maharashtra and has been consistently adding new branches outside Maharashtra. The company also seems to have managed its loan book well and has made adequate provisions. GICHF is trying to reduce the share of bank borrowings and the same will help in reducing cost of funds with consequent improvement in net interest margins (NIM).
Reliance Industries Telecom arm Infotel Broadband Services is negotiating to borrow an additional $1.5 billion to fund operations and equipment purchases. Standard Chartered Private Equity plans to sell part of its 13.7% stake in auto component maker Endurance Technologies through a proposed IPO to expand operations and pay down debt. ICICI Bank raised $1 billion through a 10-year bond sale carrying a 7.5% coupon rate, the largest such offering by an Indian bank in over three years.
Idea Cellular Ltd. is recommended as a buy with a price target of Rs. 185-230. The technical outlook is positive as the stock has taken support at Rs. 130 and is trending higher. Company outlook is also positive due to expected robust subscriber growth, improving EBITDA margins, and potential value unlocking from hiving off its tower business. On the financial front, net sales increased 64% YoY while EBITDA and PAT grew 69% and 259% YoY respectively due to margin expansion and lower costs.
Gold prices may reach Rs 22,000/10 gms by the end of the year due to large cash holdings by mutual funds waiting to invest and a lack of attractive options in the Eurozone and US economies. India lost $27 billion in cancelled merger deals this year, mostly from failed Reliance deals. The government expects to raise Rs 19,000 crore by the end of the fiscal year by selling stakes in ONGC and IOC. The RBI is expected to raise interest rates by 25 basis points at its next policy meeting. India dropped in the global competitiveness ranking to 51st due to weaknesses in education, health and infrastructure, despite strengths in financial markets and innovation. Vodafone remains confident it
The document is an investor presentation announcing the merger of Bharat Financial Inclusion Limited (BFIL) and IndusInd Bank (IBL). The key points are:
1) BFIL will merge into IBL through a share swap. BFIL shareholders will receive 639 shares of IBL for every 1,000 shares of BFIL, representing a 12.6% premium.
2) BFIL's microfinance operations will be transferred to a wholly owned subsidiary of IBL, which will act as a business correspondent.
3) The merger creates a large combined network of over 3,600 branches and outlets, and addresses the financial inclusion gap through the complementary strengths of both companies. Estimated
The equity markets in India were flat for the week. The government approved 49% foreign investment in insurance and pensions, though the bills require parliamentary approval. Other reforms announced include a central infrastructure authority and changes to the Companies Bill. Inflation remains high, and the RBI will likely maintain a hawkish stance on monetary policy. Exports fell nearly 10% in August while imports fell 5%, leaving a large trade deficit. Global factors like a falling unemployment rate in the US and ongoing debt issues in Europe were also noted.
The document provides a summary of various business news stories:
- Piramal buys an additional stake in Vodafone India while Essar exits completely.
- India Homes, a property services startup, raises $4 million in funding with plans to raise another $6 million.
- SBI waives fees on loans to small and medium businesses guaranteed under a government credit guarantee scheme.
- Halcyon Finance acquires the management rights to a Delhi hospital for $77 million.
Narnolia Securities Limited initiated KPIT stock at a CMP of Rs 115 (14 Jan 2013) and now, it achieved its target of Rs 177. We advice to book profit on the stock because of its premium valuation. For information visit our website http://www.narnolia.com/
- Indus Edutain Pvt Ltd achieved targeted funds from various Indian states like Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir, Daman & Diu, and Dadra & Nagar Haveli for their National Skills Qualifications Framework (NSQF) project despite the challenges of COVID-19. They received a total of over 30 crore rupees.
- A new Vocational Lab Project was also successfully achieved, bringing in over 7 crore rupees total.
- Key highlights included successful completion of the Vocational Lab project and receiving full payment for the NSQF project. Lowlights included the need to improve industrial tie-ups and develop
Prior to the BAFTAs, we conducted research on historical film data in order to produce an editorial infographic bitesizes visualising nominees that would resonate with our audience and fellow film buffs.
El documento describe el chorizo gallego, un embutido curado hecho principalmente de carne de cerdo picada y adobada con especias como el pimentón. Explica la historia del chorizo desde sus orígenes en la prehistoria hasta su popularidad en la antigua Roma y su posterior expansión a Europa y América. También incluye una receta detallada para hacer chorizos caseros rellenando tripas naturales con la mezcla de carne y especias.
PowerPoint es un programa que permite crear presentaciones usando diapositivas con diferentes elementos como fondos, efectos de transición e imágenes. Ofrece opciones para imprimir la presentación en transparencias o diapositivas y reproducirla en pantalla o en formato físico.
International Journal of Engineering Research and DevelopmentIJERD Editor
Electrical, Electronics and Computer Engineering,
Information Engineering and Technology,
Mechanical, Industrial and Manufacturing Engineering,
Automation and Mechatronics Engineering,
Material and Chemical Engineering,
Civil and Architecture Engineering,
Biotechnology and Bio Engineering,
Environmental Engineering,
Petroleum and Mining Engineering,
Marine and Agriculture engineering,
Aerospace Engineering.
The document discusses the difficulties students face in transitioning from school to their first job, including feeling unprepared and not having support from their school in job searching. It suggests that schools need to be more aware of market needs, take more responsibility in preparing and supporting students after graduation, and that employers and schools should work together to build a platform to help students avoid the stressful "limbo" period between finishing their education and finding employment.
International Journal of Engineering Research and DevelopmentIJERD Editor
This document analyzes and compares different routing protocols for mobile ad hoc networks (MANETs). It begins with background on MANETs and their characteristics. It then classifies routing protocols into proactive (table-driven) and reactive (on-demand) categories. For each category, several representative protocols are described in detail, including DSDV, WRP, CGSR, DSR, AODV, ABR, SSA, and TORA. Their routing mechanisms and approaches to route discovery and maintenance are outlined. The document aims to provide an overview of major MANET routing protocols to help determine the most suitable ones for different network conditions.
Este documento discute a evolução da tecnologia óptica da câmara escura para a lanterna mágica. Explica que ambos os dispositivos têm estruturas físicas semelhantes, mas se diferenciam na troca entre o plano de entrada e saída da imagem. A câmara escura forma imagens do exterior no interior, enquanto a lanterna mágica forma imagens do interior projetadas para o exterior.
The document summarizes key facts about impala, including that males have horns while females do not, they have S-shaped legs and long necks, live in herds of 2-4 females led by a single male or some males live alone, eat small leaves, fruit, and green grass, usually give birth to one calf between May and March, can live up to 12 years, and are able to adapt their diets to different seasons.
Este documento describe los principales componentes y procesos de un sistema tipográfico, incluyendo clises y tipos móviles, fotograbado, películas, planchas de cinc o aluminio y máquinas tipográficas. También cubre las partes de una imprenta como la platina, el plato y los soportes que imprimen como papel, cartulina y cartón. Finalmente, resume los principales materiales e insumos necesarios para la impresión como diferentes tipos y gramajes de papel, tintas, películas
El documento define la videoconferencia y explica lo necesario para realizar una, incluyendo líneas telefónicas, tarjetas de video y sonido, y software. Explica los componentes clave como el codec, monitor y cámara. También describe los tipos de videoconferencia como punto a punto, multipunto, sobre RDSI e IP.
This presentation introduces outsourcing and the types of work available. It discusses who can be outsourcers and contractors, including freelancers and individuals from developing countries working for companies or individuals in developed countries. A variety of work types are listed, from administration and software development to writing, design, and customer support. Online platforms where work can be found are also provided, such as ODesk, Freelancer, and others. In conclusion, the presentation encourages subscribing to their YouTube channel.
Forthgear is an integrated marketing and communications firm that has been in business since 1995. They help companies attract and engage customers through branding initiatives, advertising, creative development, and digital and traditional media solutions. Forthgear's services include marketing strategy, campaign development, graphic design, web development, photography, video production and more. Their goal is to understand clients' business objectives and develop strategies to convey and reinforce their brand promise.
Este documento describe cómo la industria alimentaria genera residuos que contaminan el agua, el suelo y el aire. Cada tipo de industria alimentaria, como la cárnica, pesquera y láctea, produce subproductos específicos que afectan el entorno. Se analizan las alternativas para monitorear y mitigar el impacto ambiental, así como la necesidad de minimizar los residuos sólidos y grasos en el procesamiento de alimentos.
This website offers to increase users' SoundCloud followers by purchasing follower packages. It claims increasing followers organically takes a long time with little result, so using their service allows expanding one's fan base more quickly. All that is needed is the user's SoundCloud username, as the website will then boost the user's followers and exposure to more potential fans. However, the authenticity and legitimacy of the followers gained through this website cannot be verified.
This website offers to increase users' SoundCloud followers by purchasing follower packages. It claims increasing followers organically takes a long time with little result, so using their service allows expanding one's fan base more quickly. All that is needed is the user's SoundCloud username, as the website will then boost the user's followers and exposure to more potential fans. However, the authenticity and legitimacy of the followers gained through this website cannot be verified.
Este documento analiza los conceptos de espacio público y plaza urbana. Define el espacio público como un lugar para el debate, la toma de decisiones políticas y la resolución de asuntos de interés general. Explora la evolución histórica de las plazas y describe sus características en las ciudades americanas, incluyendo su papel central en la fundación de las ciudades y su jerarquía social. También contrasta las características del espacio público tradicional frente a las plazas comerciales modernas, señalando que estas últ
KONOPIZZA es una empresa mexicana que produce pizzas en forma de cono, fundada en 2002 por el chef italiano Rossano Boscolo. La idea se presentó en 2004 en Milán y tuvo rápido éxito, expandiéndose por Italia y otros países. Las pizzas en cono se preparan de manera tradicional en 3.5 minutos y se hornean frente al cliente, manteniéndose calientes hasta el último bocado. La misión de KONOPIZZA es llevar este producto a todos los rincones de México ofreciendo calidad, limpieza
Este documento describe el movimiento rectilíneo uniformemente acelerado (MRUA), donde la velocidad de un objeto aumenta constantemente con el tiempo debido a una fuerza constante. Explica que la aceleración se define como el cambio de velocidad con respecto al tiempo y presenta fórmulas para calcular la velocidad final, aceleración media, desplazamiento y otros valores clave del MRUA. También distingue entre aceleración y desaceleración.
To achieve the noise level reduction without cost impact by building an abrasive article with periodic multilayer composite structure to generate the sound wave interference.
Este documento presenta un problema matemático que contiene una falacia. El autor realizó el problema paso a paso para identificar dónde estaba el error, determinando que la división de (x-3) era incorrecta y llevaba a un resultado falso de 1=0. El documento también define varios términos matemáticos como lógica aristotélica, demostración y operaciones algebraicas básicas. El autor concluye que aprendió a identificar falacias y aplicar sus conocimientos matemáticos para resolver el problema.
Bajaj Finance Q1FY15: Net profit jumps to Rs2113.60 mn, up 20.27%; BuyIndiaNotes.com
During Q1FY14, Bajaj Finance's net profit jumps to Rs. 2113.60 million from Rs. 1757.40 million over the corresponding quarter last year, registered a growth of 20.27% y-o-y. Investors are recommended to buy the stock for a price target of Rs.2385.00.
Edelweiss Financial Services: Q4FY15 operating profit up 77.56% y/y; BuyIndiaNotes.com
Edelweiss Financial Services Ltd reported a 73.53% rise in net sales to Rs. 12092.50 million for the fourth quarter of fiscal year 2015 compared to the same period last year. Net profit increased 45.61% to Rs. 883.70 million. Operating profit grew 77.56% to Rs. 7415.30 million. The company recommended a final dividend of Rs. 0.20 per share. Estimates show net sales and profit are expected to grow at a compound annual rate of 26% and 28% from 2014 to 2017. The document provides the company's financial highlights and performance updates for the fourth quarter of fiscal year 2015.
HDFC Bank, ICICI Bank, and Axis Bank are three of the largest private sector banks in India. The document provides details on their quarterly performance, annual general meetings, equity research reports, and financial analyses. Key information includes HDFC Bank reporting a 22% increase in net interest income for the quarter ending December 2012, ICICI Bank seeing a 30% rise in net profit, and Axis Bank improving net interest margin and reducing provisions. The banks also discussed their performances on quarterly conference calls.
GIC Housing Finance's surplus scenario likely to continue for next three year...IndiaNotes.com
GIC Housing Finance Ltd reported financial results for the quarter ended June 30, 2015. Net sales grew 21.31% to Rs. 2045.80 million compared to the same quarter last year. Net profit grew 11.40% to Rs. 282.50 million. EPS was Rs. 5.25, up from Rs. 4.71 the previous year. For the full 2015 fiscal year, net sales grew 17% to Rs. 7327.40 million. The company expects continued growth over the next few years and the analyst recommends buying the stock with a target price of Rs. 260.
DB Corp Q4FY15: Buy for a medium to long term investmentIndiaNotes.com
The company reported an 8.17% decrease in net profit at Rs. 644.42 million for the quarter ending March 2015 compared to Rs. 701.78 million in the previous year. Net sales increased 4.85% to Rs. 4854.82 million. Earnings per share were Rs. 3.51 compared to Rs. 3.82 in the previous year. The company recommended a final dividend of Rs. 4.25 per share. For the full fiscal year, net sales and profit are estimated to grow at a CAGR of 11% and 12% from 2014 to 2017.
Go long on Page Industries, Q4FY15 net sales up 34.24% y/yIndiaNotes.com
Page Industries reported its financial results for the quarter ending March 31, 2015. Net sales were Rs. 3796.63 million, a 34.24% year-over-year growth. Net profit grew 34.16% to Rs. 471.17 million. Operating profit or EBITDA increased 24.31% to Rs. 773.73 million compared to the same period last year. For the full fiscal year 2015, net sales were Rs. 15430.21 million, a 30% growth over the previous year, and net profit grew 27% to Rs. 1960.23 million. The company expects net sales and profit to grow at a compound annual growth rate of 26% and 24% from 2014 to
SKS Microfinance Q1FY15: NII up 41% to Rs890 mn; BuyIndiaNotes.com
In Q1FY15, SKS Microfinance's Net profit jumps to Rs. 493.21 mn an increase of 892.37%. Net interest income grew by 41% to Rs. 890 mn in Q1FY15 from Rs. 630 mn in Q1FY14. Maintain buy
Divi’s Laboratories Better business model in comparison to other Indian healthcare companies, Narnolia Securities Limited positive for the stock and recommend BUY with target price of Rs 1350 as well as for Godrej Consumer due to 20%+ growth in the domestic market. Also we advice our investors to book part profit at the current level of Axis bank.
COMPARITIVE ANALYSIS OF INDIABULLS HOUSING FINANCE LTD ANDHarsimar Satija
The document compares Indiabulls Housing Finance Ltd to its competitors HDFC, LIC Housing Finance, and GRUH Finance using various financial metrics. It analyzes each company's current ratio, debt-equity ratio, return on capital employed, profit after tax margins, interest coverage, earnings per share, and market capitalization. The conclusion is that Indiabulls Housing Finance performed well in the past fiscal year 2013-2014 and emerged as the second largest housing finance company in India in terms of assets with a net worth of Rs. 5639 crores.
HDFC Securities is a subsidiary of HDFC Bank incorporated in 2001 as a joint venture between HDFC Ltd and HDFC Bank. It offers broking services in cash and derivative markets as well as distributes third party products like mutual funds. HDFC Securities remains a strong player in the cash segment and has over 250 branches. It has seen strong revenue and profit growth in recent years and maintains high credit ratings. The company also pays high dividends and has support from its parent HDFC Bank.
Deepak r gorad marketing finance assignmentDeepak R Gorad
The document discusses Havells India, an Indian electrical equipment company. It details Havells' plans to invest up to Rs. 500 crore over the next three years to achieve over 50% revenue growth and reach Rs. 10,000 crore in sales. This will include expanding its domestic and international operations through investments in production facilities, hiring 1,500 new employees, and potential acquisitions in China and Africa totaling $200 million. Currently, Havells has annual revenue of Rs. 6,500 crore from its domestic and international operations.
CEAT Ltd. is one of India's leading tyre manufacturers. The report provides an analysis of CEAT's financial performance over the past year, competitors, and current market valuation. While revenues grew slightly, profits declined due to higher costs. The report recommends a long position on CEAT with a 12-month target price of Rs. 1500, citing its diversified business and comfortable liquidity position.
Firstcall recommend this banking scrip on a strong Q4FY15IndiaNotes.com
YES Bank reported strong results for Q4 FY15 with net interest income and net profit rising 35.78% and 28.07% respectively. Total advances grew 35.8% to Rs. 755498 million and deposits grew 22.9% to Rs. 911758 million. Asset quality was maintained with gross NPAs at 0.41% and net NPAs at 0.12%. The bank is well capitalized with a CRAR of 15.6% and tier 1 capital at 11.5%. On the basis of continued growth, the report recommends buying YES Bank shares with a target price of Rs. 920.
Buy Rural Electrification, MoU signed with TSGENCO for funding for proposed p...IndiaNotes.com
Rural Electrification Corporation Ltd (REC) reported a 20% increase in net sales to Rs. 53334 million for Q4 FY15 compared to the same period last year. Net profit decreased by 8% to Rs. 10965 million. EBITDA grew by 11% to Rs. 47535 million. REC signed a memorandum with Telangana state government to provide Rs. 240000 million in funding for power projects. For FY15-17E, the company expects net sales and profit to grow at a CAGR of 17% and 13% respectively.
This document provides an analysis of SQS India BFSI Ltd's financial performance for Q1 FY16. It reports that the company's net sales grew 13.6% YoY to Rs. 583 million in Q1 FY16. Net profit increased 38.76% YoY to Rs. 87 million. EBITDA was Rs. 143 million, a 28.25% increase YoY. The document recommends buying shares of SQS India BFSI Ltd based on expected future revenue and profit growth.
IndusInd Bank reported a 30% increase in net profit for the second quarter of fiscal year 2016. Key financial highlights included a 39% rise in operating profit, 32% growth in non-interest income, and improvements to net interest margin and capital adequacy ratio. Non-performing assets declined and key business segments like core fee income increased. The bank completed capital raising activities during the quarter and integrated the acquired diamond and jewelry financing business. Management commented that the bank delivered consistent financial performance despite challenging market conditions and will continue focusing on digital initiatives.
The report recommends buying shares of Firstsource Solutions Ltd, an Indian business process management company, with a target price of Rs 74 within 12 months. It summarizes the company's financial performance, noting a recent decline in revenue but growth in profit margins. The outlook expects revenue growth to resume as new deals are implemented and seasonal collection business increases in the current quarter. The stock is considered undervalued relative to peers at current valuation ratios.
Similar to DHFC sales & profit accelerate in third quarter FY15, buy (20)
The document summarizes financial information for GlaxoSmithKline Consumer Healthcare Ltd for quarters ending June 2015 and September 2015E. Key highlights include:
- For Q1 FY16 ending June 2015, net profit increased 19.13% YoY to Rs. 1550.10 million, net sales grew 8.18% YoY, and operating profit rose 20.64% YoY.
- Estimates for Q2 FY16 ending September 2015 show net sales growth to Rs. 11850.30 million and net profit increasing to Rs. 1775.02 million.
- At the current market price of Rs. 6270.20, the stock trades at a P/E ratio of 40.
Apollo Tyres approves further expansion of the Truck & Bus radial tyre capacityIndiaNotes.com
Apollo Tyres reported a 12.4% decrease in net sales but a 27.5% increase in net profit for Q1 FY16 compared to Q1 FY15. EBITDA rose 15.4% and profit margins increased 319 and 447 basis points respectively. Apollo Tyres approved expanding its Chennai truck and bus radial tire capacity and raising Rs. 20,000 million in debt for ongoing expansions. Analyst estimates see Apollo Tyres' operating profit and PAT growing at a CAGR of 13% and 23% from FY14 to FY17 respectively.
Grasim Industries reports improved performance in Q1FY16IndiaNotes.com
Grasim Industries reported improved performance for the quarter ended June 2015, with consolidated net sales up 7% to Rs. 8,599 crore. Operating margin improved 130 basis points to 16.5% due to lower raw material and power costs. However, operating profit grew only 16% to Rs. 1,417 crore due to higher interest and depreciation costs. Net profit declined 1% to Rs. 484.67 crore. Key segments like viscose staple fibre saw revenue increase 15% and EBITDA surge 72% on higher sales volumes and lower input costs. The cement subsidiary UltraTech reported 7% revenue growth but net profit fell 5% to Rs. 591 crore.
The document provides a technical analysis recommendation for buying Lupin stock. It recommends buying between price levels of 1790 and 1820 with a stop-loss of 1660. The analysis notes that shorter term moving averages have converged and the RSI oscillator is showing a positive signal in the mid-range, indicating buy signals on both technical indicators.
Indoco Remedies reported quarterly results slightly below expectations due to restructuring of its domestic business. Sales grew 9% to Rs 216 crore while margins improved. Exports grew 23% but was offset by weak 2% domestic growth. The company expects the domestic segment to recover in the second half of the year. For the full year, sales are expected to grow 19% overall. While the quarter saw short-term impacts of domestic restructuring, the analyst maintains a HOLD recommendation based on the company's business model and expectations for profitability and returns to further expand.
Thermax Limited is a leading energy and environment solutions provider operating globally. In Q1 FY2016, the company's net sales increased 19.27% to Rs. 10011.90 million and net profit increased 48.96% to Rs. 616.78 million compared to the same period last year. The order balance on June 30, 2015 stood at Rs. 42750 million, down 18% from the previous year. The company plans to set up new manufacturing facilities. Analysts recommend buying the stock with a target price of Rs. 1145, citing expected growth in earnings.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
How Poonawalla Fincorp and IndusInd Bank’s Co-Branded RuPay Credit Card Cater...beulahfernandes8
The eLITE RuPay Platinum Credit Card, a strategic collaboration between Poonawalla Fincorp and IndusInd Bank, represents a significant advancement in India's digital financial landscape. Spearheaded by Abhay Bhutada, MD of Poonawalla Fincorp, the card leverages deep customer insights to offer tailored features such as no joining fees, movie ticket offers, and rewards on UPI transactions. IndusInd Bank's solid banking infrastructure and digital integration expertise ensure seamless service delivery in today's fast-paced digital economy. With a focus on meeting the growing demand for digital financial services, the card aims to cater to tech-savvy consumers and differentiate itself through unique features and superior customer service, ultimately poised to make a substantial impact in India's digital financial services space.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
DHFC sales & profit accelerate in third quarter FY15, buy
1. CMP 481.00
Target Price 553.00
ISIN: INE202B01012
JANUARY 21st
2015
DEWAN HOUSING FINANCE CORPORATION LTD.
Result Update (PARENT BASIS): Q3 FY15
BUYBUYBUYBUY
Index Details
Stock Data
Sector Housing Finance
BSE Code 511072
Face Value 10.00
52wk. High / Low (Rs.) 501.95/199.10
Volume (2wk. Avg. Q.) 363000
Market Cap (Rs. in mn.) 61881.13
Annual Estimated Results (A*: Actual / E*: Estimated)
YEARS FY14A FY15E FY16E
Net Sales 49675.86 60053.57 70262.67
EBITDA 45286.03 54477.59 63533.51
Net Profit 5290.03 6249.65 7157.79
EPS 41.19 48.58 55.64
P/E 11.68 9.90 8.65
Shareholding Pattern (%)
1 Year Comparative Graph
DHFC LIMITED BSE SENSEX
SYNOPSIS
Dewan Housing Finance Corporation Ltd. (DHFCL)
established on the year 1984, to provide affordable
housing finance to the lower and middle income
groups in semi-urban and rural parts of India.
Net sales rose by 17.31% y-o-y at Rs. 15262.70 million
in 3rd quarter of the current year 2014-15 against Rs.
13010.10 million in the corresponding quarter of the
previous year.
Net profit Jumps to 15.36% y-o-y of Rs. 1596.58
million in Q3 FY15 against Rs. 1383.95 million in the
corresponding quarter of the previous year.
In Q3 FY15, Profits before Interest, Depreciation and
Tax was at Rs. 13834.21 million, an increase of 16.53%
y-o-y against Rs. 11871.45 million in Q3 FY14.
During the quarter, Gross NPA stood at 0.77% and Net
Interest Margin stood at 2.77%.
For the Q3 FY15, the Company sanctioned Housing
loans, amounted to Rs. 70717.70 million, shown an
increase of 19% y-o-y as against Rs. 59385.50 million
for the corresponding quarter of previous year.
The company has securitized or assigned pool of
housing and property loans aggregating to Rs. 4979.70
million during the Dec quarter of FY15.
Net sales registered 22.50% increase of Rs. 44027.73
mn, in the 9M FY15, as against Rs. 35940.81 mn in the
9M FY14.
In the nine months ended 31st Dec 2014, Net profit
grew by 18.35% of Rs. 4590.06 mn compared to Rs.
3878.33 mn in the nine months ended 31st Dec 2013.
Net Sales and PAT of the company are expected to
grow at a CAGR of 19% & 17% over 2013 to 2016E
respectively.
PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND
Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
Dewan Housing Finance Corporation Ltd. 481.00 61881.13 41.19 11.68 1.73 80.00
HDFC Ltd. 1250.00 1967512.10 36.28 34.50 7.04 700.00
LIC Housing Finance Ltd. 490.70 246982.10 27.31 17.92 3.28 225.00
GRUH Finance Ltd. 310.85 113337.40 5.33 58.52 18.64 150.00
2. Analysis & Recommendation- ‘BUY’
For the quarter ended Q3 FY15, Net sales of the company rose to 17.31% y-o-y at Rs. 15262.70 million against Rs.
13010.10 million in the corresponding quarter of the previous year. Net profit Jumps to 15.36% y-o-y of Rs.
1596.58 million in Q3 FY15 against Rs. 1383.95 million in the corresponding quarter of the previous year. In Q3
FY15, Profits before Interest, Depreciation and Tax was at Rs. 13834.21 million, an increase of 16.53% y-o-y
against Rs. 11871.45 million in Q3 FY14. Profit before Tax (PBT) also rose by 22.65% in 3rd quarter of FY15 of Rs.
2415.19 million compared to Rs. 1969.16 million in same period previous year. Disbursements and Sanctions
during the quarter amounted to Rs. 49232.10 million and Rs. 70717.70 million respectively as against Rs.
40302.30 million and Rs. 59385.50 million respectively in the corresponding quarter of previous year.
During the Dec quarter of FY15, the company has securitized or assigned pool of housing and property loans
aggregating to Rs. 4979.70 million. During the 9MFY15, DHFL has expanded its network strength taking its
points of presence to over 570 locations. The improving economic scenario and the Indian Government's
emphasis on affordable housing have created an encouraging demand for home loans. DHFL’s concerted focus on
reaching out to customers in the low and middle income segment in tier 3, 4 and 5 locations has helped in
maintaining a healthy loan portfolio and steady net profit growth during the third quarter of the 2014-15
financial year. We expect the company to post a CAGR of 19% & 17% in its top-line and bottom-line respectively.
Hence, we recommend ‘BUY’ for ‘DEWAN HOUSING FINANCE CORPORATION LTD’ with a target price of Rs.
553.00 on the stock.
QUARTERLY HIGHLIGHTS (PARENT BASIS)
Results updates- Q3 FY15,
DHFL, India’s second largest private sector housing
finance company in India with a network across 570
locations and two international representative
offices in Dubai, UAE and London, UK. The company
has reported its financial results for the quarter
ended 31st Dec, 2014.
The company has achieved a turnover of Rs. 15262.70 million for the 3rd quarter of the financial year 2014-15 as
against Rs. 13010.10 million in the corresponding quarter of the previous year. Operating profit or EBITDA
increased form Rs. 13834.21 million to Rs. 11871.45 million in Q3 FY15. Net profit of Rs. 1596.58 million, an
increase of 15.36% in Q3 FY15 against Rs. 1383.95 million in the corresponding quarter of the previous year. The
company has reported an EPS of Rs. 12.41 for the 3rd quarter as against an EPS of Rs. 10.78 in the corresponding
quarter of the previous year.
Rs. In million DEC-14 DEC-13 % Change
Net Sales 15262.70 13010.10 17.31
PAT 1596.58 1383.95 15.36
EPS 12.41 10.78 15.07
EBITDA 13834.21 11871.45 16.53
3. Break up of Expenditure:
During the quarter, total expenditure (excluding interest & finance Expenses) rose by 30 per cent mainly on
account of other expenses by 27%, Depreciation by 236% and employee Benefits Expenses by 22% are the
primarily attributable to growth of expenditure when compared to corresponding quarter of previous year. Total
expenditure in Q3 FY15 stood to Rs. 1514.36 million as against Rs. 1166.97 million in Q3 FY14.
In Q3 FY15, Employee Benefit expenses incurred Rs. 490.39 million against Rs. 400.60 million in the
corresponding period of the previous year. During the same quarter, Other Expenditure faced at Rs. 940.79
million against Rs. 741.65 million. Whereas depreciation in Q3 FY15 stood at Rs. 83.18 million against Rs. 24.72
million in Q3 FY15.
Latest Updates
• Total Income has increased from Rs. 13013.70 million for the quarter ended Dec 31, 2013 to Rs. 15265.39
million for the quarter ended Dec 31, 2014.
• During the quarter ended 31st Dec 2014, the company sanctioned Housing loans, amounted to Rs. 70717.70
million as against Rs. 59385.50 million during the corresponding quarter of previous year. Shown an increase
of 19% y-o-y.
• Disbursements during the Dec quarter amounted to Rs. 49232.10 million, showing the increase of 22% as
against Rs. 40302.30 million in the corresponding quarter of previous year.
• DHFL, Prudential Financial, Inc. to expand partnership; form asset management joint venture for Indian
customers.
• During the Dec quarter of FY15, the company has securitized or assigned pool of housing and property loans
aggregating to Rs. 4979.70 million.
4. • Loan Book Outstanding grew 26% to Rs 4777.60 million during the quarter ended Dec 31, 2014 as against Rs
3784.90 million in the corresponding quarter of the previous year.
• Gross NPA stood at 0.77% and Net Interest Margin stood at 2.77% for the quarter ended Dec 31, 2014.
COMPANY PROFILE
Dewan Housing Finance Corporation Ltd. (DHFL) established on 11th of April in the year 1984 with registered
office in Mumbai provides access to affordable housing finance to the lower and middle income groups in semi-
urban and rural parts of India with a unique mission, which is benchmarked as a model of financial inclusion in
the Indian financial services sector. The Company is CARE AAA rated and reckoned as one of India’s leading
housing finance companies in India with network presence across over 570 locations. The company was set up
with a vision to transform the lives of millions of Indians living just beyond the consideration zone of the
Mortgage industry, by giving them access to home loans. Even after ~ 30 years it remains a financial institution
with the systems, processes and dedication to serve this socio-economic group. After the acquisition and merger
of First Blue Home Finance, DHFL caters to the middle and upper-middle income group.
The company disbursed funds from its own equity contribution and had a return on equity of less than 8% at a
time when the interest rates were about 18%. Over two decades later, DHFL is still profitably doing what its
founder intended it to do.
DHFL also has tie ups with leading public and private sector banks namely Punjab & Sind Bank, United Bank of
India, Central Bank of India and YES bank to provide home loans to customers through a home loan syndication
agreement. DHFL has also set up representative offices in London and Dubai to serve the ever increasing NRI
population in these regions. It has also tied up with UAE Exchange to offer home loan products through the
various UAE Exchange centers in GEC countries.
Products and Services:
Dewan Housing Finance Corporation Ltd has providing the following products.
• Home Loans
• Fixed Deposits
• NRI Services
• Property Services
5. Home Loans
Home Purchase Loans
Home Construction Loans
Home Improvement Loans
Home Extension Loans
Home Loans for Self Employed
Plot Loans
Plot + Construction Composite Loan
Home Loan Transfer
Loan against Property
Non Residential Property Loans
Fixed Deposits
Aashray Deposit 400 Days
Aashray Deposit 365 Days
Swayamsidha Deposit
Aashray Deposit Plus
6. FINANCIAL HIGHLIGHT (PARENT BASIS) (A*- Actual, E* -Estimations & Rs. In Millions)
Balance Sheet as at March 31, 2013 -2016E FY-13A FY-14A FY-15E FY-16E
I EQUITY AND LIABILITIES
A) Shareholder's Funds
a) Share Capital 1282.20 1284.20 1286.51 1286.51
b) Reserves and Surplus 31088.70 34465.40 38601.25 42461.37
Sub -Total- Shareholder fund 32370.90 35749.60 39887.76 43747.88
B) Non Current Liabilities
a) Long- Term Borrowings 265647.10 322954.80 368168.47 423393.74
b) Differed Tax Liability 0.00 11.50 14.95 18.39
c) Other Long Term Liabilities 27.70 15.10 16.31 17.94
d) Long Term Provisions 2636.00 3313.50 4042.47 4689.27
Sub-Total Non Current Liabilities 268310.80 326294.90 372242.20 428119.34
C) Current Liabilities
a) Short Term Borrowings 8759.80 15947.20 31097.04 37160.96
b) Trade Payables 5.80 2.60 3.85 5.39
c) Other Current Liabilities 48120.80 59846.70 73611.44 84653.16
d)Short Term Provisions 462.30 751.30 871.51 1045.81
Sub-Total - Current Liabilities 57348.70 76547.80 105583.84 122865.32
TOTAL EQUITY AND LIABILITIES ( A + B + C) 358030.40 438592.30 517713.80 594732.53
II ASSETS
D) Non- Current Assets
Fixed Assets
i. Tangible Assets 1718.00 1846.50 1984.99 2104.09
ii. Intangible Assets 74.20 69.30 61.68 55.51
iii. Capital Work in Progress 2587.10 7961.50 9076.11 10256.00
a) Total Fixed Assets 4379.30 9877.30 11122.77 12415.60
b) Non-Current Investment 1905.20 3067.00 3987.10 4904.13
c) Deferred Tax Assets 20.10 0.00 0.00 0.00
d) Long Term Housing & property Loans 323694.90 387469.00 451401.39 514875.98
e)Other Long Term Loans & Advances 330.00 160.80 183.31 207.14
f) Other Non-current Assets 2719.20 1945.10 1789.49 1861.07
Sub -Total- Non- Current Assets 333048.70 402519.20 468484.06 534263.92
E) Current Assets
a) Current Investment 845.00 2692.00 3284.24 3875.40
b) Trade Receivables 589.70 774.50 3020.55 3866.30
c) Cash & Cash Equivalents 5125.60 9831.80 14157.79 17697.24
d) Short Term Portion of Housing & Property Loans 15322.30 18497.30 23039.92 27647.90
e) Other Short- Term Loans and Advances 2872.60 4028.10 5437.94 7069.32
f) Other Current Assets 226.50 249.40 289.30 312.45
Sub -Total Current Assets 24981.70 36073.10 49229.74 60468.61
TOTAL ASSETS (D+E) 358030.40 438592.30 517713.80 594732.53
7. Annual Profit & Loss Statement for the period of 2013 to 2016E
Value(Rs. mn) FY13A FY14A FY15E FY16E
Description 12m 12m 12m 12m
Net Sales 41226.38 49675.86 60053.57 70262.67
Other Income 177.22 20.98 14.60 16.06
Total Income 41403.60 49696.84 60068.16 70278.73
Expenditure -4018.53 -4410.81 -5590.57 -6745.22
Operating Profit 37385.07 45286.03 54477.59 63533.51
Interest -31193.65 -37825.77 -44744.85 -52351.48
Gross profit 6191.42 7460.26 9732.74 11182.04
Depreciation -84.58 -109.13 -299.41 -353.30
Profit Before Tax 6106.84 7351.13 9433.33 10828.74
Tax -1588.30 -2061.10 -3183.68 -3670.94
Net Profit 4518.54 5290.03 6249.65 7157.79
Equity capital 1282.19 1284.20 1286.51 1286.51
Reserves 31088.74 34465.40 38601.25 42461.37
Face value 10.00 10.00 10.00 10.00
EPS 35.24 41.19 48.58 55.64
Quarterly Profit & Loss Statement for the period of 30th June, 2014 to 31st Mar, 2015E
Value(Rs.in.mn) 30-Jun-14 30-Sep-14 31-Dec-14 31-Mar-15E
Description 3m 3m 3m 3m
Net sales 14263.08 14501.95 15262.70 16025.84
Other income 3.46 3.93 2.69 4.52
Total Income 14266.54 14505.88 15265.39 16030.35
Expenditure -1302.13 -1334.81 -1431.18 -1522.45
Operating profit 12964.41 13171.07 13834.21 14507.90
Interest -10705.86 -10800.52 -11335.84 -11902.63
Gross profit 2258.55 2370.55 2498.37 2605.27
Depreciation -33.91 -90.82 -83.18 -91.50
Profit Before Tax 2224.64 2279.73 2415.19 2513.77
Tax -753.10 -757.79 -818.61 -854.18
Net Profit 1471.54 1521.94 1596.58 1659.59
Equity capital 1286.07 1286.51 1286.51 1286.51
Face value 10.00 10.00 10.00 10.00
EPS 11.44 11.83 12.41 12.90
9. OUTLOOK AND CONCLUSION
At the current market price of Rs. 481.00, the stock P/E ratio is at 9.90 x FY15E and 8.65 x FY16E
respectively.
Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.48.58 and Rs.
55.64 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 19% & 17% over 2013 to 2016E
respectively.
On the basis of EV/EBITDA, the stock trades at 8.14 x for FY15E and 7.88 x for FY16E.
Price to Book Value of the stock is expected to be at 1.55 x and 1.41 x respectively for FY15E and FY16E.
We recommend ‘BUY’ in this particular scrip with a target price of Rs.553.00 for Medium to Long term
investment.
INDUSTRY OVERVIEW
Economic Overview
The financial year 2013-14 has been decisive in more ways than one. It was a year that saw financial indicators
swinging between extremes. However, they left behind some interesting lessons to be learnt and an optimistic
outlook as well, for the world to again look at India with renewed interest. As per advance estimates released by
the Central Government, India’s GDP growth in the year was expected to be 4.9% (4.5% in the previous year), the
second successive year of a below 5% growth. Stalled infrastructure projects and subdued corporate investments
contributed to the slowdown on the one hand, while consumer sentiment was affected by higher inflation and
Rupee depreciation on the other.
The Reserve Bank of India reduced policy rates by 100 bps in 2012-13 and 25 bps in May 2013. Before its June
2013 policy review, following risks of external sector instability, the US Fed hinted at a gradual withdrawal of
quantitative easing. This put emerging market assets under pressure, with countries running high current
account deficits. Between May 2013 and August 2013, the Indian Rupee depreciated by 16.3% on the back of a
USD 12.6 billion capital out flow from India’s domestic equity and bond markets. The RBI undertook several
policy measures to restore stability. In consultation with the Government, gold imports were restricted to reduce
the pressure on CAD.
With a 1.2 billion strong population, the world’s fourth largest economy appears to enjoy a robust outlook. Six
and a half decades post-independence, the country has achieved a landmark agricultural revolution that has
enabled the nation to reduce its dependence on grain imports. This has helped India transform into a global
agricultural powerhouse, and now a net food exporter. Life expectancy has more than doubled, literacy rates
have quadrupled, health conditions have improved and a sizeable middle class has emerged. India is now home
10. to globally recognised companies in pharmaceuticals, steel, information and space technologies, and has a
growing global voice in keeping with its size and potential. Job creation will catalyse India’s annual growth rate,
which has been below the 5% mark for the past five quarters.
Housing Industry Overview
The growth of the Indian economy combined with the resultant rise in the per capita income has stepped up the
pace of urbanisation. This, along with the increasing availability of finance, has resulted in a growth in demand
for housing in the past few years. As per CRISIL estimates, the housing stock in India stood at ~148 million
during FY 2014, as compared to around 103 million a decade back.
Further improvements in the macroeconomic scenario, coupled with demographic changes in population such as
changing agemix, increasing nuclearisation of families, among others are expected to give an added impetus to
the growth of the housing industry in India. The country’s housing finance companies maintained their asset
quality as reflected in a GNPA of 0.84% as at December 31, 2013. Correspondingly, profitability remained largely
stable for housing finance companies on account of an improvement in operating efficiencies and low credit
costs.
India’s housing mortgage market is extensively under-penetrated. India’s mortgage-to-GDP ratio is low as
compared to other developing countries at 9%, having improved by 300-400 bps over the last six years. In the
long-term, increasing income levels, improving affordability, rising urbanisation including emergence of Tier-II
and Tier-III cities and the evolution of the nuclear family concept, ease of financing, tax incentives and widening
reach of financiers will have an impact on the industry. Increase in volumes and rise in property prices will also
play a significant role in determining growth in disbursements.
Opportunities and optimism
Rural demand: Rural India accounts for 70% of the country’s population, 56% of the country’s total income and
33% of India’s savings. Since 2000, per capita GDP has grown faster in India’s rural areas than in its urban
centres – a 6.2% CAGR versus 4.7%. Rural incomes are growing, and consumers are vying for discretionary
goods and lifestyle products. Between 2009 and 2012, spending in rural India reached USD 69 billion,
significantly higher than the USD 55 billion spent by the country’s urban population.
Housing shortage: India’s urban housing shortage touched 18.78 million units while rural shortage stood at
43.67 million units, with 90% of the shortage seen in the low income groups. Urban growth across the world is
projected to double from 3.3 billion in 2007 to 6.4 billion in 2050, with more pronounced increase in the
developing countries.
Government initiatives: According to recent reforms, FDI up to 100% has been permitted under the automatic
route in townships, housing, built-up infrastructure and construction development projects. The Government of
India sanctioned projects worth Rs.417230.00 million for building 15,69,000 houses / dwelling units for
economically weaker / lower income sections under the Housing Ministry’s flagship scheme Jawaharlal Nehru
National Urban Renewal Mission (JNNURM) programme.
11. Rising proportion of the working age population: The country’s population was expected to have increased to
1230 million by March 2014 from 1217 million in March 2013. India’s median age of 24 years makes the nation
one of the youngest countries globally with a productive workforce. Nearly two-thirds of India’s population is in
the working age group (15-64 years).
Rising incomes: India’s per capita income is projected to increase by 10.4% to Rs. 749200.00 million in 2013-14
as the country emerges as a USD 1.7 trillion economy. However, the increase in per capita income would be by
only 2.8% in 2013-14 on the basis of 2004-05 prices.
Urbanisation: India has the highest urban population rate change amongst BRIC nations. Urban dwellers
accounted for 31.6% of India’s population in 2012. By 2015, India’s urban population is expected to grow by
2.5%, above the 1.3% growth expected in the total population. At this rate, it is estimated that around 843 million
people will live in Indian cities by 2050, offering large-scale opportunities for the housing and infrastructure
development sector.
Rising consumer class: By 2020, India is projected to become the world’s third largest middle class consumer
market behind China and the US. By 2030, India is likely to surpass both countries with an aggregated consumer
spend of nearly USD 13 trillion. Rising middle class incomes are driving aspirational consumer behaviour as
people seek quality products, better healthcare and more sophisticated services. Nuclear families: Some 56% of
urban Indian households now comprise four or less members, a marked change from 10 years ago, when the
median household size in urban India was between four and five members. Nuclear families are becoming the
overwhelming norm in India, with 70% of households comprising just one married couple, triggering a need for
new homes.
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contained herein is from publicly available data or other sources believed to be reliable but we do not represent that
it is accurate or complete and it should not be relied on as such. Firstcall Research or any of its affiliates shall not be
in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this report. Firstcall Research and/ or its affiliates and/or employees will not be liable for
the recipients’ investment decision based on this document.
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