Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Tuesday, August 30, 2016

DLF Q1 profit jumps over 2-fold to Rs 261.42 cr
[Editor: The real estate sector started with a bang, as the realty major DLF Ltd came out with a reasonably good Q1FY17 result. This is expected to bring more optimism in the space, and attest to the fact that after a long time, perhaps the real estate sector is looking up, albeit with hiccups on the way. The real estate sector is one of the most globally recognised sectors. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade.

The Indian real estate market has become one of the most preferred destinations in the Asia Pacific# as overseas funds accounted for more than 50 per cent of all investment activity in India in 2014, compared with just 26 per cent in 2013. The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country's Gross Domestic Product (GDP). 

Those who are holding the shares of Unitech Ltd (Rs.5.20) should now increase their holdings, for extended targets of Rs.12-14]
Photo: IBEF
Aug 30, 2016: India's largest realty firm DLF   today reported more than two-fold jump in consolidated net profit to Rs 261.42 crore for the quarter ended June 30, helped by sale of its cinema business to PVR. 

Its net profit had stood at Rs 125.87 crore in the April- June quarter of last financial year. Income from operations fell by 22 percent to Rs 1,867.46 crore during the first quarter of the current fiscal, from Rs 2,388.72 crore in the year-ago period. 

DLF's total income declined however to Rs 2,025.58 crore for the quarter ended June, 2016-17, from Rs 2,520.02 crore in the year-ago period. 

The company's finance cost increased to Rs 747.84 crore from Rs 621.82 crore during the period under review. DLF has booked a profit before tax of Rs 372 crore under exceptional item from sale of its cinema business. 

In May, it had entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore. The company has a land bank of 281 million sq ft, of which 37 million sq ft is under construction. 

DLF promoters are likely to sell 40 percent stake in a rental arm DLF Cyber City Developers Ltd (DCCDL) by September, a deal estimated to fetch around Rs 12,000 crore. It would continue to own 60 percent stake in the DCCDL. 

The promoters - billionaire K P Singh and family - would reinvest a significant part of the amount realised from this sale into DLF Ltd, helping the realty giant to reduce its debt substantially. Three global institutional investors -- Blackstone, GIC and Abu Dhabi Investment Authority -- have been shortlisted as potential buyers. 

Due diligence process is on and agreement is likely to be signed by September. DCCDL has about 25-26 million sq ft of leased commercial space with an annual rental income of about Rs 2,250 crore. The subsidiary also has 20 million sq ft of future development potential.

Source: Money Control
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