Friday, February 1, 2013

GODREJ PROPERTIES LIMITED Q3 & 9M FY2013 Results



Consolidated 9M FY2013 Total Income stood at INR 733.7 crore. Net Profit  stood at INR 85.2 crore in 9M FY2013. Consolidated Q3 FY2013 Total Income stood at INR 267.8 crore. Net Profit  stood at INR 35.5 crore in Q3 FY2013


New Delhi, January 30 2013: Godrej Properties Limited (GPL), a leading national real estate developer, today announced its financial results for the quarter and nine months ended December 31, 2012.

CORPORATE HIGHLIGHTS:

Business Development Highlights
New deal flow momentum remains healthy with five new projects with 4.3 mn sq.ft. saleable area added to the portfolio in FY2013 YTD
·         Curry Road Redevelopment, Mumbai
o   We executed a Development Management Agreement for a project with 0.12 mn sq.ft. saleable area at Curry Road, Mumbai
o   GPL will receive 10% of revenue as development management fees
o   This is the 4th consecutive quarter in which GPL has added a new redevelopment project

Sales Highlights
Demonstrated strong momentum in ongoing sales
  • Q3 FY2013 witnessed total booking value of INR 672 crore and total booking volume of 1.04 mn sq. ft. as compared to total booking value of INR 364 crore and total booking volume of in 0.57 mn sq. ft. in Q3 FY2012
  • Residential projects recorded booking value of INR 550 crore and booking volume of 0.94 mn sq. ft in Q3 FY2013 . Commercial projects witnessed booking value of INR 122 crore and booking area of 0.10 mn sq. ft in Q3 FY2013

Construction Highlights
·         Completion certificate received for Godrej Prakriti Phase I

Awards & Recognitions
GPL received six awards in Q3 FY 13
·         Platinum Award for Excellence – GPL received this award from Construction World for being selected as one of only 5 developers in India who have featured in each of the six years of their annual list of the country’s top 10 builders
·         Brand Excellence Award – GPL won the award in the real estate category at the Zee Business Awards
·         3 awards at CNBC Awaaz Real Estate Awards, 2012
o   Godrej Garden City : ‘Best Residential Project’ in Ahmedabadin the mid-segment category of projects that are 70% complete
o   Godrej Prakriti : ‘Best Residential Project’ in Kolkatain the mid-segment category of projects that are 70% complete
o   Godrej Waterside : Best Commercial Property’ in Kolkata
·         Best Upcoming Township – Godrej Anandam, Nagpur received this award from My FM, Dainik Bhaskar and CREDAI Nagpur

Commenting on the financial performance in Q3 & 9M FY2013, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said:
“Godrej Properties continues to see strong momentum in launches, bookings and new business. We have also sustained new sales momentum by delivering four successful launches across the key markets of Mumbai, NCR and Bengaluru during Q3 FY2013 . Our presence in the Mumbai redevelopment space was further strengthened with the addition of Curry Road project in this quarter.

We are strategically developing our presence in crucial markets and adding value accretive transactions to our portfolio which, clubbed with our unmatched brand equity, differentiated business model and strong execution capabilities, will drive our future growth.”


Financial Overview (Consolidated)

9M FY2013 performance overview (Compared with 9M FY2012)
·         Total income increased to INR 733.7 crore as compared to INR 446.6 crore
·         EBITDA was INR 195.8 crore as compared to INR 105.7 crore
·         Net profit stood at INR 85.2 crore as compared to INR 58.1 crore

Q3 FY2013 performance overview (Compared with Q3 FY2012)
·         Total income increased to INR 267.8 crore as compared to INR 169.9 crore
·         EBITDA was INR 76.5 crore as compared to INR 46.8 crore
·         Net profit stood at INR 35.5 crore as compared to INR 28.6 crore

Centre for Policy Analysis

Cordially invites you to a

PANEL DISCUSSION
On
Violence Against Women:NewChallenges

on February 1, at 6:00 pm

At Conference Room 2
India International Centre (Main)
Lodhi Estate

Speakers:

RomilaThapar
Indira Jaising
Ashis Nandy


Kindly join us for tea at 5.30pm



RSVP
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Lenovo remains bullish on its India business

Charts the Unstoppable India plan to sustain leadership position

New Delhi, January 30, 2013: As one of the fastest growing PC markets in the world, India continues to remain a significant contributor to the success of Lenovo in the global PC arena. As the year 2012 came to a close, Lenovo achieved the unique distinction of being the leading player in five out of the seven top PC markets (China, Japan, India, Germany and Russia), and further narrowing the lead between itself and the No. 1 PC maker globally. The company has upheld its streak of outgrowing the overall industry globally for the 14th quarter in a row and its impressive growth in India over the last nine quarters reflects this global average.

Lenovo entered India in 2005, by acquiring IBM’s PC business and since then has grown its market share exponentially in all segments of the PC market. For the quarter ended September 30, 2012, Lenovo retained its numero uno position in the country with 16.9% market share – a position, it has maintained since Jan 2012 (as per Asia from Pacific PC shipment tracker IDC for CY Q3, 2012 - JAS quarter). Even as the final data for the OND quarter for India is awaited, preliminary estimates from IDC point out that Lenovo continues to grow faster than the overall PC market.

Commenting on the year gone by, Amar Babu, Managing Director, Lenovo India, said, “The year 2012 marked a series of milestones for us – our Protect & Attack strategy, which refers to securing our leadership in our core businesses, while attacking newer opportunities, ensured that our overall profitability was not compromised in the run for market share. I’m happy to inform you that Lenovo has continued to grow faster than the overall market for the last 9 consecutive quarters now. Incidentally, India was one of the first few markets, after China, where we made a successful foray into the smartphone category in November 2012 starting with South India and Gujarat, and we plan to make the range of smartphones available across the country. We will continue to invest in the India business, and I’m confident that we will sustain this momentum in the years to come.”

Given below are some of the key milestones and highlights from Lenovo for its India business for CY-2012.

Protecting and growing the Enterprise Business: A hallmark of its Protect business, the enterprise business continued to contribute to Lenovo’s overall success in the country. Lenovo’s Enterprise PC business leads the segment for the past five quarters consecutively, even outside of mega deals, with a current market share of 28.9%. Major account wins in the Government and Education segments led to Lenovo becoming the leading player in the education vertical with a share of 33.3%. Lenovo also celebrated two decades of the ThinkPad with the launch of the X1 Carbon in 2012.
Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Hyper growth in Consumer Business: With the increasing incomes of the rural consumer as well as enhanced internet connectivity solutions, the consumer PC business holds tremendous potential for growth. Subsequent to its efforts to increase its market share in this segment, Lenovo grew consistently in the consumer PC segment for the last nine quarters and is currently ranked at No. 2 with a 14.1% market share. 
Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Tremendous potential in SMB Business: The SMB business continues to grow and in line with the unique requirements that this segment calls for, Lenovo has adopted a differentiated approach for SOHOs, SBs and MBs. With a market share of 6.3% and a ranking at No. 4, Lenovo maintains a bullish outlook on the SMB market. The company expects that 2013 will see a revival in the demand for computing solutions from local small and medium sized enterprises (SMEs) in the country, as they look towards technology to enable them to drive further growth. This will, fuel the demand for low-end PCs like AIOs and traditional desktops in2013.
Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Explosive expansion on Retail front: While Lenovo has numerous tie-ups with large format retailers, to cement its presence in the country, the company also undertook rapid retail expansion in tier III, IV and V cities by investing in exclusive stores – LES (Lenovo Exclusive Stores) and LES Lites. Today with over 1200 LES stores, Lenovo is the largest PC retailer brand in India. Considering that the next wave of growth will arise from tier III-V cities, beyond the top 75 cities of the country, Lenovo hopes to add more stores by the end of this fiscal to drive further growth.

The coming of the PC + era: India will continue to remain one of the fastest growing PC markets in the world and Lenovo believes that the future will be dominated by the presence of four screens (PC, Tablets, Smartphones, and Smart TVs). Growth in 2013 will be driven by the rapidly increasing demand for smartphones, tablets and other unique form factor computing devices like Ultra portables and Hybrids.  Lenovo is confident that it will continue to outperform and outgrow the market in India with its ‘Unstoppable Lenovo India’ plan where it wants to become the brand of choice for partners and customers. As a part of this goal, Lenovo intends to become the leading player, or be at least one of the leaders in each segment of the PC +era. Investments in R&D to fuel the need for innovative computing devices will continue, and the company will remain committed to the market to ensure that growth is sustainable and consistent.

Harbhajan Singh unveils Golf Team Uttarakhand Lions’ jersey 
 January 31st, New Delhi: India cricketer Harbhajan Singh has firmly lent his support to the Uttarakhand Lions, a franchisee team set to take part in the inaugural Golf Premier League, 2013. The India off-spinner is the co-owner of the team alongwith GTM group and NNI. The League is scheduled to be played at the Amby Valley Golf Resort, Maharashtra from 8th – 10th February.  Unveiling the team colours for Uttarakhand Lions, Harbhajan said "Being a cricketer my sport always gets adulation from the fans. I wanted to do something for other sports too. So when Tushar ji of GTM and Umesh Ji from NNI group proposed this idea of owning a golf team I jumped at the idea. While I will be busy with my cricketing engagements playing the Irani Cup, I will keep a close eye on the fortunes of my Lions, the Uttarakhand Lions."

Harbhajan's sentiments were echoed by his co-owners. "Harbhajan oozes passion for sports," said Tushar Kumar of GTM. "He told us that he loved the idea of having a team competition in golf which is perceived as an individual sport. Harbhajan's enthusiasm has rubbed off on us and now we too are trying our best to galvanise our team." Uttarakhand Lions team has a mix of stalwarts like European Tour Star Darren Clarke, (also the winner of 2011 British Open), Asian Tour’s Chapchai Nirat, World record holder with the lowest score of 32-under-par in Sail Open 2009, India’s Mukesh Kumar and another Indian Shankar Das, Currently No. 9 on PGTI’s Order of Merit list.

Mr Umesh too emphasised the need to take golf to all parts of the country. "We wanted to see Uttarakhand on the world map and this was the best way of doing it. A golf team from Uttarakhand is a proud achievement in itself and if we go on to win the inaugural Golf Premier League it will be an icing on the cake."

On the occasion Harbhajan also launched the t-shirt and the mantra for his team  -- “Lions conquer the Greens”.

The format of the four days play will include two day and night rounds of 14-hole stroke play. The teams performance will be calculated on the basis of cumulative score of all four players over the two rounds. The final and semi-final round is played between the top four teams. Apart from main three event rounds, there is a skills challenge and Pro-Am competition including amateur players and celebrity participants.
The Center for Public IntegrityWeekly Watchdog
January 31, 2013 

Center reports on the money bankrolling big-spending nonprofits
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Since the U.S. Supreme Court’s controversial Citizens Uniteddecision in 2010, nonprofits such as the American Future Fund have played a more prominent role in electoral contests — all while keeping their donors secret. During the 2010 midterm elections, politically active nonprofitsoutspent super PACs by a 3-to-2 margin. The American Future Fund ranked third among “social welfare” nonprofits in spending in the 2012 federal election,according to the Center for Responsive Politics, trailing only the Karl Rove-affiliated Crossroads GPS andAmericans for Prosperity, which is backed by conservative billionaire brothers Charles and David Koch. The American Future Fund has raised more than $60 million, with spikes in contributions coming in election years. Much of that money has come from another conservative “social welfare” nonprofit that doesn’t disclose its donors by name — the Arizona-based Center to Protect Patient Rights. The nonprofit has no website and lists its address as a post office box in Phoenix. It was launched in 2009 by Republican operative Sean Noble, who has extensive ties to the vast political network underwritten by the Koch brothers.
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From the Primary Source: Major retailer seeks help on K street
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The teen- and twentysomething-focused clothier, Urban Outfitters, has hired Abraham & Roetzel LLC, the lobbying firm of former Sen. Spencer Abraham, R-Mich., to represent it, according to a new U.S. Senate lobbying registration filing. "Retail" and "federal policy involving economic development and urban development" are the issues on which Abraham & Roetzel will lobby for Urban Outfitters, the filing states. Federal records indicate that this is the first time Urban Outfitters has hired federal-level lobbying representation. In April, the company will be required to disclose how much it paid for the help.

Join The Center’s ‘Primary Source’ reporters Dave Levinthal and Michael Beckel for a discussion on campaign finance in a live chat on Monday, Feb. 4, at 1 p.m. ET.
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IMPACT: More states seek reform after Center’s ‘State Integrity Investigation’
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In the 10 months since The Center launched the State Integrity Investigation in collaboration with Global Integrity and PRI/Public Radio International, more than 12 states have proposed new legislation or started a reform campaign. Four more states have passed new measures. The latest actions come from Maine and North Dakota. InMaine, legislation to make it unlawful for state officials to leave their jobs and immediately go to work for industries they regulated – the so-called “revolving door” – is one of several ethics bills expected to be debated this session. And lawmakers in North Dakota have introduced a package of ethics reform bills that would revamp the state’s oversight of its politicians. Dubbed the Sunshine Act, the measures would create an ethics commission to investigate state officials and would tighten campaign finance reporting rules, among other changes.

What grade did your state earn?
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Shedding light on secret spenders
Last year, the Center for Public Integrity’s investigative work was cited nearly 15,000 times by other media organizations. I expect that number will grow this year. That’s in part because of a new Center project launched this week called Primary Source.

Primary Source will publish daily original reports on all things influence-related: examinations and analyses of primary source documents pertaining to political contributions, spending, lobbying and other forms of special interest influence. Primary Source is part of the Center for Public Integrity's larger Consider the Source project that focuses on developments in the post-Citizens United world of money and politics.

The 2012 campaign may be over, but the money and influence game continues apace. We want to show where that money comes from. For example, Primary Source reported that a brand new conservative group, American for a Strong Defense, just popped up two weeks ago and started buying hundreds of thousands of dollars in ads against the Senate confirmation of former Senator Chuck Hagel as Defense Secretary.

Meanwhile, Sarah Palin’s PAC (Sarah PAC) still has $1.15 million in the bank and remains a political force, even if its namesake has dropped her Fox TV contract. And there is a new super PAC for Hillary Clinton, a group called "Ready for Hillaryregistered Fridaywith the Federal Election Commission.

These and other influence updates will find their way to Primary Source with an eye on naming those who seek to manipulate public opinion and elected officials for political gain. Please bookmark Primary Source here, subscribe to its RSS feed here, follow daily updates on Twitter at @PublicIand "like" us on Facebook. Also be sure to send in your tips, hints and suggestions totips@publicintegrity.org.

Until next week,
 

Bill Buzenberg
Executive Director

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