Some companies are facing a developed world problemâ€”cash far in excess of their needs. How should investors interpret this?
Ajay Piramal group‘s financial services arm Piramal Finance is likely to announce a tie-up with Canada based CDPQ's realty arm for an investment platform.
In the medium term we will do that. All our acquisitions, and in some ways moving up in value chains and getting more critical mass are steps towards that," Piramal Enterprises Chairman Ajay Piramal told reporters here.
Piramal will also pay an additional USD 32 million â€“ depending on financial performance of the acquired assets over the next 3 years.
The board of directors has given approval for Piramal Finance Ltd, a 100 percent subsidiary of Piramal Enterprises, to make an application to the National Housing Bank (NHB) for incorporating a housing finance company, the company said in a statement here today.
The cracks in the Tata Sons management has begun in August itself during its annual general meeting when Rata Tata had advised the then chairman Cyrus Mistry to appoint three new independent directors to the group‘s board, a report in the Business Standard says.
Similarly, Wipro's Azim Premji, the 4th richest Indian on the Forbes list, has a networth of USD 15 billion -- more than Mozambique's GDP of USD 14.7 billion.
The two Mumbai-based companies have entered into an agreement which will see the Ajay Piramal-headed company investing in the real estate developers' projects around Mumbai.
Piramal Enterprises today reported 36.29 percent rise in consolidated net profit to Rs 230.93 crore for the June quarter, mainly on account of robust sales.
Ajay Piramal, Chairman of Piramal Group, said the success of S4A depends on the company and its promoters.
In an interview with CNBC-TV18, Ajay Piramal talked about the government's decision to open up sectors such as pharma to more foreign direct investment.
In next two years, the company plans to grow both organically and via acquisitions in its financial services, pharmaceutical and information management business, says Ajay Piramal, Chairman of the Piramal Group.
In a special chat with CNBC-TV18‘s Shereen Bhan, Ajay Piramal, Chairman, Piramal Enterprises said it was yet too early to comment on whether they would be acquiring Lafarge's India cement business.
The company had posted a net loss of Rs 390.79 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in a regulatory filing.
"Billionaire Ajay Piramal-owned Piramal Enterprises (PEL) is within striking distance of taking control of Infrastructure Leasing & Financial Services (IL&FS)," said a media report quoting unnamed sources.
The proceeds will be used to expand Piramal Realty's portfolio and acquire marquee land parcels in and around the Mumbai, Piramal Group Executive Director Anand Piramal said.
As it prepares a new regulatory framework for startups and alternative investments, regulator Sebi on Thursday set up an 18-member panel headed by IT czar NR Narayana Murthy to advise on policy matters in this regard.
Net sales of the company rose to Rs 1,381.45 crore during the third quarter of 2014-15, compared to Rs 1,276.12 crore in the same period of previous fiscal, Piramal Enterprises Ltd (PEL) said in a filing to the BSE.
Supreme Infrastructure is hoping to garner around Rs 700 crore, and is expecting equity valuation at 1x Book Value (BV). The sale proceeds will enable Supreme Infrastructure to service its debt and meet working capital requirements.
Ace investor and billionaire Ajay Piramal is betting USD 2 billion on Indian real estate. Piramal Enterprises has also launched a firm that will buy apartments in bulk from builders. This idea seems to be paying off.
Partners in final stages of deploying three more deals in Mumbai, Delhi and Chennai.
An Indian owned and controlled company can purchase agricultural land for construction, development provided all applicable laws, rules and regulations being enforced are duly complied with.
Piramal and CPPIB will initially invest USD 250 million each in the venture, which will focus on providing project-level debt to local developers across Mumbai, Delhi region, Bangalore, Pune and Chennai markets.
After this, Vodafone India will be the first telecom operator in the country to be fully owned by a foreign company.
In an interview to CNBC-TV18‘s managing director, Menaka Doshi, Piramal alongwith N Chandrasekaran, managing director and chief executive officer, TCS and Baba Kalyani, chairman and managing director, Bharat Forge shares his views on the macro and political sphere of the nation.