DLF Ltd. has posted a consolidated net profit of Rs20.18bn for the quarter ended September 30, 2007. Consolidated revenue for the quarter is Rs33.49bn. Profit Before Tax (PBT) stood at Rs23.48bn. Basic EPS for the reporting quarter is at Rs11.84.

For the six-month ended September 30, 2007, DLF has posted a consolidated net profit of Rs35.34bn on total revenue of Rs64.7bn. Profit Before Tax (PBT) for the first half of FY08 stood at Rs44.75bn. Basic EPS for the April-September 2007 period is Rs21.81.

DLF said that its total land area was 738mn square feet as on September 30, 2007. Area under construction was 54mn Sq. Ft. as on September 30, 2007. This was up 10% from the previous quarter.

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DLF, the countrys largest real estate firm, has reported a profit of Rs 2,018 crore for the quarter ended September 30. In this quarter, the company reported a revenue of Rs 3,349.24 crore.

The company has also announced a 100% interim dividend for the fiscal year 2007-08. Figures for the corresponding period of last year are not available since the company got listed only in the first quarter of this fiscal that ended on June 30.

In this period, DLF had reported a profit of Rs 1,524 crore and revenue of Rs 3,121 crore. However, profits in the quarter that just ended (July-September) were higher than that in the entire FY 2006-07, which stood at Rs 1,933.65 crore.

More : economictimes.indiatimes.com

Indias largest car-maker Maruti Suzuki India Ltd today announced a fresh investment of $1.8 billion to achieve its target of producing one million cars by 2010-11.

The announcement came even as the board approved significant top management changes. Jagdish Khattar, current managing director, will retire on December 18 once he turns 65, ending speculation about his extension.

Khattars place will be taken by current chairman Shinzo Nakanishi. R C Bhargava, who is a director and a former managing director, has been named the new chairman.

More : business-standard.com

So you thought the real estate sector mopped up the lions share of the capital market this year? Just check these stats — blazing the trail this year is the power sector with an impressive IPO line-up of more than Rs 20,000 crore. This is around 35% more than the Rs 13,000- crore worth of IPOs mobilised in the real estate sector this year, including the mega DLF offering.

In fact, as many as seven companies, including Anil Dhirubhai Ambanis Reliance Power, have filed draft papers for IPOs with market regulator SEBI in the last couple of months. Already, funds worth Rs 3,900 crore from the capital market has come to the power sector this year. In addition, the sector is expected to raise over Rs 16,000 crore as companies such as Reliance Power, REC and NHPC line up to float their IPOs in the next couple of months.

Says Sanjeev Zarbage, assistant vice-president, research, Kotak Securities: The power sector needs huge funds and thats why we are seeing a slew of companies wanting to tap the capital market. Since the economy is doing well, capital expansion is a natural way of catering to the services of the population.

More : economictimes.indiatimes.com

Key Safety Systems and Abhishek Auto Industries have formed a new joint venture named KSS-Abhishek Safety Systems to be based outside of Delhi, India.

The 50:50% joint venture includes the construction of a new 140,000 square feet manufacturing facility and technical center in Manesar, Haryana.

The joint venture plan also includes an investment of $20 million over the next several years, expanding upon the existing world class capabilities. The India facility will be tightly connected with the KSS global technology centers in Detroit, Frankfurt and Shanghai and work together in concert to execute global programs.

More : automotive-business-review.com

While pouring investments and rapid industrialisation are reasons to cheer for Haryana, it fears the spiralling power demands will affect its development.

The state has now earmarked Gurgaon, Faridabad, Yamunanagar, Rewari-Jadugera and Panipat-Sonepat as stressed areas for which action plans are being prepared to meet their growing electricity demands. The state is currently witnessing a shortage of 1500 MWs against the growth rate in demand of 13 to 15 per cent. This gap has to be bridged soon or else the position will be unsustainable, says Haryana Financial Commissioner and Principal Secretary Ashok Lavasa.

Informing that detailed action plans for Faridabad and Gurgaon have already been prepared, Lavasa said the state would soon achieve three out of the four milestones set for the 11th Five Year Plan. The state is witnessing one of the fastest executions of power projects in the country. The first unit of the 600-MW power plant in Yamunanagar will be commissioned next month and the second by February. Work at the site of the 1,200-MW power plant in Hisar was started the very next day after government approval and it has set new benchmarks in cost and schedule of commissioning of the project. The 1,500-MW power plant at Jhajjar is targeted for commissioning before the Commonwealth Games and bids have been invited for the fourth 1,300-MW power plant, he adds.

More : expressindia.com

Real estate developer Piyush Group will soon foray into the buoyant hospitality sector in the country and has earmarked Rs 500-600 crore for setting up three hotels, besides planning to tap the capital markets by 2009.

The company has acquired land in Udaipur, Jaipur and Rudrapur to mark its hospitality foray and is in talks with global hospitality chains for management contracts.

Going forward, we want to tap the growing hospitality market in India and hence would come up with three hotels entailing an investment of Rs 500-600 crore, Piyush Group Chairman and Managing Director Anil Goyal told media.

More : economictimes.indiatimes.com

The corporation plans to augment earnings by developing these properties into commercial office complexes and subsequently leasing them.

Life Insurance Corporation (LIC) is outbidding some of the leading private realty players to acquire huge tracts of land all over the country. The corporation plans to augment earnings by developing these properties into commercial office complexes and subsequently leasing them.

LIC, which manages over Rs 6 lakh crore of assets , has spent around Rs 100 crore a year until 2006-07 . This fiscal, LIC is reported to have bought land worth Rs 400 crore. LIC has already acquired tracts of land in Delhi, Jaipur, and Kolkata.

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Indian designers focus on balance sheets to leapfrog into the next league.

The big question fashion designers are struggling with these days has less to do with palettes and twirls and more to do with balance sheets. Slowly but very steadily, they have come to realise that they need to corporatise their work if they want to leapfrog into the next league.

Sumeet Nair of the FDCI speaks in defence of the industry with a counter question: Why do you think that the fashion industry is not corporatising? It is.

More : business-standard.com

The Monopolies and Restrictive Trade Practices Commission (MRTPC) has ruled that the countrys top realty firm DLF indulged in an unfair trade practice by not disclosing the basis of calculating the carpet area in a property to its client.

Not disclosing the basis of carpet area calculations to the complainant prejudiced the interest of the consumer, the ministry of corporate affairs said in a statement quoting the MRTPC order. The Commission has also asked DLF to calculate the carpet area on the basis of Bureau of Indian Standards (BIS) norms.

When contacted, a DLF spokesperson told ET: We have not received the judgement copy yet. We will certainly study it. We do make full and transparent disclosure on all our properties on sale to all prospective buyers. We respect the judgements of all judicial forums including the MRTPC. We will abide by the ruling.

More : economictimes.indiatimes.com