GLOBAL HOSPITALS ON A RAPID EXPANSION
Ramya Kannan, Chennai
With a proposed investment of about Rs.2000 crore over the next five years and an upcoming IPO the Global Hospitals Group is set on a path of rapid expansion in the country, its executive director – marketing and strategy, Chandra Sekhar has said. Charting the growth plan of the chain of hospitals for the immediate future during a chat, Sekhar said at the end of the five years, the tangibles would be 4,500 beds in about six large hospitals, and nine other smaller hospitals.
Key acquisitions would be in the metros of Delhi, Kolkata and Mumbai, in order to establish a six-city presence (They are already in Hyderabad, Chennai, and Bangalore.) The commitment would also be towards supporting innovation in technology, clinical research and trials, in addition to strengthening specialization units at various hospitals. A sum of Rs.10 crore had been committed for research this year.
FORTIS PLANS FOOTPRINT ACROSS COUNTRY
Fortis Hospitals, a 100 percent subsidiary of Fortis Healthcare Ltd, is set to expand its footprint across the country. The group will start 8 to 10 more hospitals in the next two years, apart from scouting for inorganic growth opportunities in eastern India.
“Eight to 10 more hospitals are in the pipeline for the next 24 months — including Gurgaon, Ludhiana, Hyderabad and Kangra in Himachal Pradesh. We are looking for acquisitions also,” said Shivinder Mohan Singh, managing director of Fortis Healthcare, in Kolkata on Sunday.
EXPORTS TO TOUCH OVER $500 BN BY 2014-15: FIEO
The Hindu Business Line
If exports maintain an annual growth trend of 25 percent, Indian exports can cross $500 billion by 2014-15 from $220 billion expected in the current fiscal, FIEO said on Monday. India’s apex exporters body Federation of Indian Export Organisations (FIEO) President Ramu S Deora said emerging markets in Asia, Latin America, Africa and Middle-East countries would play an important role to achieve this ambitious target.
“Quantum jump in investment would be required in roads, ports, airports, containers, power and telecommunications, cold storage and refrigerated vans and warehouses, so as to augment the installed capacity,” Deora said.
TECH FIRMS SEE STRONG GROWTH, KEY MARKETS RECOVER
Export-driven software services companies are set to report robust growth in quarterly earnings and a firm outlook, driven by an expected increase in clients’ technology budgets.
Leading Indian outsourcers who maintain technology operations for clients such as General Electric and Citigroup have been on a hiring spree and have given pay hikes of up to 20 percent to ward off poaching by global rivals.
Tata Consultancy Services, Infosys Technologies and Wipro, the top three outsourcers, get more than 90 percent of their revenue from overseas.
Real Estate Sector
HIGH FLAT RATES GIVE RENTAL MARKET IN MUMBAI A BOOST
Rajshri Mehta, Mumbai
The Times of India
Home prices in the city and adjoining areas have shot up by 30 percent over the last six months, making it more difficult for most to own and maintain a house. But, renting a house is a more financially viable alternative. Property consultants believe there is a growing trend to stay on rent rather than purchase an apartment under the present circumstances.
The mathematics is simple. If you buy a 2-BHK flat for approximately Rs 1.2 crore in Goregaon, you pay an EMI of around Rs 90,000 (assuming 85 percent is the loan at the rate of 9 percent). But if you take that apartment on rent, you could pay Rs 20,000-22,000 a month, including society and maintenance charges. “If you take away society and maintenance charges of Rs 5,000, the rent works out to Rs 15,000-20,000. It clearly shows you are saving Rs 70,000 a month by staying on rent,” said a seasoned broker.
Infrastructure: Airport Express and Highway Project
AIRPORT EXPRESS GETS NOD, METRO TO ZIP AT 105 KMPH
The long-awaited Airport Express Metro is likely to be opened to public this weekend with the Commissioner of Metro Railway Safety (CMRS) on Monday giving his clearance to run the trains on the line. CMRS RK Kardam’s approval came two days after he inspected the 23-km high-speed corridor for a second time in three months. It, however, came with a rider to limit the maximum operational speed to 105-km per hour. The showcase line promises to take commuters from the city to the airport in less than 20 minutes.
CABINET NOD FOR HIGHWAY PROJECT WORTH RS. 11,000 CRORE
The Hindu Business Line
The National Highways Authority of India (NHAI) has got an approval to invite financial bids for developing highway projects worth Rs 10,963.39 crore. The qualifying bid process for these projects is already over.
The inter-Ministerial committee — Public Private Partnership Appraisal Committee (PPPAC) — has given an approval for highway projects with an estimated cost of Rs 10,963.39 crore for a total length of 907 km.
The Highways Ministry plans to award these projects on PPP basis before the end of the fiscal year after taking the Cabinet’s approval, informed the Highways Ministry in a note. Of the six proposals approved, five are on build-operate-transfer (toll) and one is on BOT (annuity).