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Omaxe, Great Eastern Shipping & Nalco Q1 result
Omaxe net dips 73.6% Real estate player Omaxe on Friday reported 73.6 per cent decline in its consolidated net profit for the quarter ended June 30 at Rs 14.96 crore as against Rs 56.67 crore in the year-ago period. The consolidated net profit during the first quarter also dipped 66.06 per cent to Rs 118.91 crore from Rs 350.33 crore in the same period last year, the company said in a statement.

Canada's Chamber of Commerce asks for new Indian mining policy
The Canadian Chamber of Commerce has asked the Indian government to bring a new mining policy to attract foreign direct investment in the sector.

News of the day

FM to begin pre-Budget talks on January 5
Finance Minister Pranab Mukherjee will kick-start the pre-Budget consultations on January 5, with industry leaders getting the first opportunity to present him their wish-list that includes continuation of stimulus.
Corporate

Falcon Realty to provide flats at Rs 5.5 lakh in Patna

Falcon Realty today announced its plans to build eco-friendly housing projects at affordable prices starting from Rs 5.5 lakh in various cities of Bihar. - DLF-IL&FS consortium bag Rs 900-cr Haryana Metro project - Omaxe launches Rs 100 cr township proj in Allahabad - Godrej Properties to dilute 13.5% stake via IPO - 3C Company launches Rs 1,500 cr housing project in NCR - Fund raising by realty-focused PEs slows, slumps 72% in Q2 - Govt should appoint real estate regulator: Assocham "We have identified Patna, Muzaffarpur and Purnia, where our company would be providing eco-friendly flats at an affordable price starting from Rs 5.5 lakh. We have also identified land for these projects which will come up in the next six months," said Bhim Yadav, CEO, Falcon Realty Services Private Ltd (FRSPL). "We are here (Bihar) to take the property development in Bihar to new heights. With this move, Falcon hopes to redefine Bihar"s real estate landscape by offering eco-friendly luxury housing at truly affordable cost to the residents of this state," he said while refusing to divulge further details of the projects. FRSPL, which claims to be a pioneer in providing eco-friendly housing in India at low prices, is coming up with its ambitious project "Gulmohar Woods" in Gurgaon (NH-8) in Delhi-NCR region, he said and added that flats would be available for as little as Rs 5.5 lakh in the Rs 300 crore project. The first phase of the project would be completed by the end of 2010, the CEO said adding the company has fixed Rs 51,000 as booking amount for the flats.


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