Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Wednesday, August 14, 2013

HDIL: Slowly Moving Towards Rs.41-42
Realty firm Housing Development & Infrastructure (HDIL) today reported a net profit for the quarter ended June 30 at Rs.16.25 crore as revenues dipped. The company had posted a net profit of Rs 105.38 crore in the corresponding period last fiscal. But the results were better than the market expectations.

HDIL’s total income for the quarter under review stood at Rs 160.84 crore from Rs 210.58 crore in the year-ago period, registering a decline of 23.62 per cent, the company said in a statement.

Attributing the drop in profits to the absence of one-time gains, HDIL vice-president finance and investor relations Hariprakash Pandey told PTI: “...(this is) because the revenue realisation for Q1 FY14 is mainly through sale of residential apartments, while sale of FSI (floor space index) contributed largely to the revenues of Q1 FY13.”

During the quarter, the company sold around 100 units across all residential projects. More than 550 sale agreements were registered during the period, a company release said.

“Due to the macroeconomic scenario and liquidity issues, very few transactions are taking place. Therefore, even we have decided to go slow sale of FSI. For the year, we will be focusing on launching new projects. The sales will be largely contributed from the sale of residential projects,” he said.

He further said: “The profits for the year will be lower compared to that of last year, mainly because the margins from sale of FSI is much higher, in upwards of 60 per cent, compared to 40-45 per cent from sale of apartments.”

For the year, sale from residential would contribute to nearly 80-85 per cent of the revenues, Pandey said.

The company plans to launch 2-3 projects of a total of around 6 million sq ft during the fiscal.

When asked about the loss of TDR (transfer of development rights) on account of termination of a slum rehabilitation contract with Mumbai International Airport Ltd (MIAL), Pandey said: “I cannot talk about this as the matter is sub-judice.

But after the MIAL incident, we have decided to shelve our TDR sale plans for sometime.”

HDIL has reduced its standalone debt by Rs.203.32 crore to Rs.2,940.01 crore. On consolidated basis, HDIL’s debt reduced by Rs 188.33 crore to Rs 3,830.10 crore.

“We have reduced our debt considerably by Rs 203.32 crore on a standalone basis and achieved a debt-equity ratio of 0.34. Going further, by the end of the fiscal, we plan to further reduce our debt to Rs 2,200 crore and up to Rs 3,400 crore on standalone and consolidated basis, respectively,” Pandey added.

HDIL said the company had issued 25,675 non-convertible debentures of Rs 10 lakh each aggregating to Rs 2,567.70 crore, of which non-convertible debentures aggregating to Rs 1,311.22 crore has been redeemed.

Courtesy: Adopted From an Article on The Hindu Businessline.