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Time of India
3 hours ago
- Time of India
Lodha Developers to launch Rs 17,000 crore worth housing projects by March next year
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Realty firm Lodha Developers Ltd remains bullish on growth potential in housing market as it plans to launch Rs 17,000 crore worth residential projects by March next to meet consumers an interview with PTI, the company's Executive Director ( Finance) Sushil Kumar Modi noted that the high demand for residential properties , being seen post-Covid pandemic, would not only sustain but grow further, driven by the country's economic growth, income tax relief in the Budget and reduction in interest rates on home loans He sounded confident of achieving the target of selling Rs 21,000 crore worth of properties in the current fiscal year, a 19 per cent increase from the preceding year."We remain in track and are thereby remain confident of achieving Rs 21,000 crore of pre-sales guidance for the current fiscal year," Modi said the company has a huge launch pipeline to meet the target."At the beginning of this fiscal, we had estimated launch of Rs 18,000 crore worth projects but with an acquisition of five land parcels in June quarter, we now have clear visibility of launches at about Rs 25,000 crore for the entire 2025-26," Modi company has already launched Rs 8,000 crore worth of housing projects in the first quarter, which means that Rs 17,000 crore worth of homes will be offered for sales in the remaining three quarters of this fiscal."Strong launch pipeline combined with interest rate reduction on home loans and income tax relief will provide significant amount of tailwainds for our business and help achieve the pre-sales target," Modi Lodha Developers clocked a 10 per cent growth in its sales bookings during April-June period of this fiscal year to Rs 4,450 Indian real estate , Modi mentioned that the launches and sales are skewed towards the second half of the fiscal year because of festival season, which generates an additional on the financial front, Lodha Developers on Saturday reported a 42 per cent increase in consolidated net profit to Rs 675.1 crore for the first quarter of this fiscal net profit stood at Rs 475.9 crore in the year-ago income rose to Rs 3,624.7 crore in the April-June period of the 2025-26 fiscal year from Rs 2,918.3 crore in the corresponding period of the preceding Developers is one of the leading real estate companies in the the 2024-25 fiscal year, the company posted a net profit of Rs 2,766.6 crore on a total income of Rs 1,4169.8 Developers has a strong presence in the residential markets of Mumbai Metropolitan Region (MMR), Pune and company has delivered 110 million sq ft of real estate and is developing more than 130 million sq ft under its ongoing and planned portfolio.
Time of India
4 hours ago
- Time of India
Suresh Narayanan steps down after leading Nestlé India's revival and expansion
Representative image Suresh Narayanan , who steered Nestlé India through the most challenging "existential" Maggi crisis, will retire on July 31 after a decade at the helm—a satisfied man. That sense of satisfaction stems from leaving the packaged food major in significantly better shape, with revenue growing at 10 per cent CAGR, profit after tax rising nearly six times, and market capitalisation increasing almost fourfold over the past 10 years. Appointed as CMD in 2015, Narayanan is widely credited with resurrecting Maggi—the company's flagship brand—after it was pulled off kitchen shelves due to a regulatory ban. During his tenure, he fired the company's innovation engine with a diversified and future-ready portfolio, rejuvenating it by launching over 150 new products—which now contribute about 7 per cent of sales—and delivering consistent growth, even amid post-COVID volatility in the FMCG sector, stubborn commodity inflation, and a consumption slowdown. 'I am happy to leave behind a culture of respect, courtesy, dignity, and trust, which is all-pervasive, has helped us through good times and bad, and the extent of diversity we've been able to provide. It is the strength of teams, brands, and conviction that has made us stand up to the odds and deliver 10 years of consistent performance. We were once seen as an urban company with a limited portfolio, but through a penetration-led volume growth strategy rolled out in 2015, we now have access to more households and more consumption occasions,' Narayanan told TOI in an exit interview. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo Following the setback, Maggi recovered 60 per cent of its market share within months of its relaunch in November 2015, bouncing back from near-extinction and reaffirming its place in Indian kitchens, eventually making India its largest market globally. 'Post the crisis, our levels of respect and trust have gone up. We came back from a dead brand into life. We moved from strength to strength,' he recounted. Over the years, Nestlé has delivered steady growth by focusing on premiumisation, a consumer cluster-based and 'Rurban' strategy, and expansion into new businesses—driving both top-line and bottom-line performance. 'One of the things I feel satisfied about is that there were two or three businesses I was keen to start in India. One was the breakfast cereals business, then pet care business and the third was Nespresso—all are now here,' Narayanan said. Also, 'we wanted to grow health science, and the joint venture with Dr Reddy's has given us that opportunity. So we are well placed not just in our core, but also in new, emerging opportunities—where there is a lot of potential for growth,' he added. Narayanan began his career at Nestlé India in 1999 as executive VP (sales), playing a key role in expanding the company's strategic footprint, and over the years, leading strategic transformations across core functions and major geographies. 'We have come a long way from those difficult (Maggi) days, and it feels good to give shareholders a bonus issue (upon farewell),' he added. Investor expectations, too, have been well met, with Narayanan delivering on three key demands: better returns, a 1:10 share split last year, and the company's first-ever 1:1 bonus issue this year. As he prepares to step down after 26 years with Nestlé, passing the baton to Manish Tiwary—former Country Manager of Amazon India—who takes over as CMD from August 1, the FMCG landscape is showing encouraging signs of recovery. Green shoots are becoming visible in urban demand after months of slowdown, supported by easing inflation and recent fiscal and monetary policy measures. Rurban markets (semi-urban and rural) have also demonstrated positive momentum, contributing to overall market resilience. This is a positive sign for companies like Nestlé, where urban markets remain key growth drivers, he said. At the same time, the value segment is seeing traction, supported by more benign inflation, a better monsoon, improved incomes—all contributing to a more favourable environment for consumption-led growth, he added. Amid these evolving market dynamics, the lens of sustainability remains ever-present in the company's business strategy, particularly in light of two significant challenges, according to him. First, consumers are increasingly demanding higher standards of governance and sustainability in the brands and products they choose—a global shift reflecting rising consumer consciousness. Second, regulatory bodies worldwide are raising the bar for product specifications, requiring companies to 'walk the talk' by enhancing the quality of their offerings to meet both consumer expectations and stricter regulatory standards. A rising tide lifts all boats. In the interconnectedness between consumer demands and regulatory responses lies the necessity for businesses to adapt and evolve in this changing landscape,' Narayanan says. Responding to a question on the company's strategy of steering clear of mergers and acquisitions, he said, 'We continue to explore good opportunities. But again, the question is one of valuation, potential, synergies, and growth opportunities that we see.' Using his experience at Nestlé, he now wants to guide senior executives on the pillars of strategy, leadership, and crisis management—all of which he honed during his time at the company. These, he believes, are increasingly essential in a world where crises are no longer exceptions but part of the norm. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
4 hours ago
- Business Standard
EM debt hedge funds eye safeguards as world-beating rally blooms
Hedge funds dedicated to emerging-market debt are increasingly turning to risk-mitigating strategies to ensure they lock in double digit gains as a broad rally in developing nation assets deepens. After a banner first half of the year, hedge funds targeting EM debt have returned nearly 13 per cent on an annual basis — more than their peers positioned in any other asset class, according to data based on Bloomberg indexes. The latest global financial flows data shows the asset class remains thriving and the extra yield investors demand to hold the sovereign debt of developing nations over US Treasuries just hit a 15-year low. Such tight pricing, along with uncertainty over US policies and global conflicts, is pushing hedge funds to curb risks as they ride the historic rally. The funds do this by swapping longer-maturity bonds in their portfolios for less risky shorter-dated ones. They also focus on higher-rated debt and the most-liquid securities while keeping an ample cash pile. 'Do you just want to be massively long on credit on these valuations? I'd say probably not,' said Anthony Kettle, who co-manages BlueBay Emerging Market Unconstrained Bond Fund with Polina Kurdyavko and Brent David. 'Having a little bit of dry powder evidently makes sense, and also running elevated cash levels.' To be clear, Kettle said, there's still a 'decent environment' to gain additional returns as funds become more selective and can profit from both rising and falling asset prices, unlike index-based investors. The $784-million BlueBay fund has returned 17 per cent over the past 12 months. Investors have taken advantage of EM inflows stoked by increased interest for alternative assets amid US policy unpredictability, which has also weakened the dollar. While many developing countries have come out of distressed debt levels as sentiment improved, further risks include another Iran-Israel flare up and potential additional increases in US tariffs, including on the buyers of Russian energy. President Donald Trump's administration has caused a 'breakdown of the traditional safe haven correlations' by shaking up the post-Cold War world order, creating an 'unusual and unpredictable' environment, said Demetris Efstathiou, the chief investment officer of Blue Diagonal EM Fixed Income Fund. 'It is very hard to predict what they will do next with tariffs, and on top of that you have ongoing wars,' Efstathiou said. His fund is 'very conservatively' positioned with shorter-maturity bonds and he avoids weak credits to protect the portfolio in the event of a global slowdown and market downturn. He has increased holdings of AAA- and AA-rated EM sovereigns along with less-indebted countries with large domestic markets like Brazil, Turkey and Mexico. EM-dedicated bond funds have received $31 billion in inflows year-to-date, with positioning increased in each of the last 14 weeks as global markets recalibrate after an era of US dominance. A near-record $5.7 billion piled into the asset class in the week though July 23, according to EPFR Global data provided by economists at Bank of America Corp. For some, flows of such a magnitude signal that EM debt is alrdy predicting the best-case scenario. 'The market is now priced for a Goldilocks scenario with the risk of a severe recession receding significantly and expectations' of one or more rate cuts by the Federal Reserve, the $847 million Enko Africa Debt Fund said in a letter to clients. Managed by Alain Nkontchou, the Africa-specific hedge fund has returned 24 per cent over the past year. Nevertheless, the expected volatility means that traditional buy-to-hold trades may not necessarily succeed and that hedge funds will prioritize holding more liquid assets to ensure an easier exit in case sentiment turns, according to ProMeritum Investment Management LLP, a $700-million fund that invests in developing markets outside China. 'Liquidity management will be critical in the second half of the year because of an unpredictable environment and geopolitical risks,' said Evgueni Konovalenko, managing partner and head of strategy at the firm. Such a focus is needed 'to take advantage of both short and long positions with sudden policy changes and a daily barrage of headlines.' What to Watch: Markets will look out for any trade talks with the US ahead of the Aug 1 deadline for Trump's latest tariffs to take effect China manufacturing and non-manufacturing PMI; second-quarter GDP data for Taiwan and Mexico, South Korea export data Brazil, Chile and South Africa central bank meetings on benchmark interest rates; South Africa may cut rates by another 25 basis points to 7 per cent, despite the likely rise in inflation later this year. (With assistance from Jorgelina do Rosario)
