Larsen & Toubro (L&T), the infrastructure major, has secured a Rs 552-crore order from PBEL, an Indo-Israeli joint venture real-estate developer, for the construction of PBEL City in Andhra Pradesh.

The PBEL City, which is coming up near the AP Police Academy, would have 13 residential and two commercial towers, each having 19 storeys, with 12 flats on each storey. 

L&T plans to deploy latest technologies to build the structures quickly and at a lesser cost. The total value of the project on completion of work was estimated at Rs 1,100.

Munich - German mortgage bank Hypo Real Estate has been rescued in a last-minute deal by a consortium of banks to resolve a refinancing squeeze it faced, the group said early on Monday.

Emergency talks yielded a result with a group of German banks extending credit that will tide the group over. Hypo did not name the banks or say how much of a loan it got.

Hypo was earlier in urgent talks with German banking regulator Bafin and the finance ministry seeking a solution for its problems

Berlin - Giovanna Stefanel-Stoffel sits chatting in her office in the upper floor of a gleaming modern office block just metres from Berlin's landmark Brandenburg Gate.

Until a few years ago she was enmeshed in the fashion world as the art director of her father's famous Treviso, Venice-based Stefanel fashion designer company.

Today, in Berlin, she's caught up in the world of real estate, as the wife and business partner of multi-millionaire Bavarian property developer, Ludwig Maximilian Stoffel, 61, who along with his brother Manfred, runs the German family's Stoffel Holding company.

Stock market analysts have suggested investors to sell Unitech stock as there are full chances of a downward trend in this stock.

Today, the stock opened weak at Rs 122, against its last closure at Rs 127.75 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 6.06 and 19.64 respectively. The share price has seen a 52-week high of Rs 546.80 and a low of Rs 126 on BSE.

Stock analysts also suggested that if the stock fell below Rs 113, it may see more weakness. So the investors must sell the stock with a stop loss above Rs 126 to achieve a target that lies between Rs 118 and Rs 115.

Real estate major Ambuja Realty is all set to make entry into boutique hotel segment in coming two fiscals in West Bengal.

According to the sources, under the proposed plans, the company would be constructing six boutique hotels at different tourists locations in West Bengal.

While lecturing on the plans, Mr. Harsh Neotia, chairman of Ambuja Realty stated, “We will come up with five to six resorts in tourist destinations in the state and also a few city properties in the boutique hotel category.”

“We will expand to other parts of India and abroad after two or three years once the brand is established,” he added.