Realty firm CHD Developers today said it will invest Rs 130 crore to develop a commercial project in Gurgaon.
The project 'CHD EWay Tower' will be developed on a land parcel of 2.025 acres located on Dwarka Expressway.
Saleable area in this project would be 2.2 lakh sq ft, of which about 60,000 sq ft has been earmarked for retail space and the rest office area.
"We are coming up with a new commercial project in Gurgaon. The construction will start in this month and the project would be completed in the next four years," CHD Developers MD Gaurav Mittal said.
Asked about the project cost, he said the total investment on this project would be Rs 130 crore, including land cost and the same would be funded through internal accrual and pre sales.
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G V Sanjay Reddy's stake in GVK Power & Infra to rise to 6.72% * One of the promoters of GVK Power and Infrastructure, G V Sanjay Reddy's stake in the company will be increased to 6.72 per cent from 4.78 per cent after other members of the promoter group gift part of their shares to him.
G V Sanjay Reddy will acquire share of G V Krishna Reddy (0.47%), G Indira Krishna Reddy (0.31%), Shalini Bhupal (70%) and G Aparna Reddy (0.47%), as per a regulatory filing by the company on BSE today.
According to the statement, Reddy will acquire 3,06,25,000 equity shares aggregating to 1.94 per cent of the paid up share capital of the company.
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Corporates profit before tax may grow 12-14 pc next fiscal * The EBITDA growth of BSE 500 corporates to range between 12 per cent-14 per cent for 2016-17 under a hypothetical scenario of fiscal loosening, compared to the 5 per cent-6 per cent growth expectation for 2015-16, India Ratings and Research (Ind-Ra) today said.
The rating agency said it expects the EBITDA growth to be slightly ahead of nominal GDP growth in FY17.
"However, a sustained improvement to the post global financial crisis period (FY10-FY12) growth of 17 per cent-22 per cent is unlikely till FY18-FY19 and the growth in EBITDA will also remain below the median growth of 17.5 per cent over FY01-FY15," it said.
