Chandigarh, Oct. 13 : Kulbir Prem Singh is a well-known name in the Real Estate world of America today. He is also appreciated for this endeavours to popularize cricket in the Baseball crazy nation.

Kulbir Prem Singh, despite experience in building houses, achieved tremendous success in real estate development.

“The banks, which were not in favour of giving loans earlier, have gradually developed a faith in me. Now, I have built such trust with banks in the U. S. that getting a loan in not a big deal. Now, I am just like any another American businessman for the banks,” Singh added. 

Kulbir is also keen to take up development and social work at his hometown in India.

Indiabulls Real Estate, one of the largest listed real estate companies in India, has announced a consolidated net profit of Rs 7.99 crore for the second quarter ended September 30, a 76.60% decline over the corresponding period a year-ago.

The company had a consolidated net profit of Rs 34.15 crore in the second quarter ended September 30, 2007.

The consolidated total Income has increased from Rs 78.21 crore for the quarter ended September 30, 2007 to Rs 143.82 crore for the quarter ended September 30, 2008. 

Washington - Americans took advantage of foreclosures in August by signing more contracts to purchase previously owned homes, according to data released Wednesday by a real estate organization.

Pending home sales climbed by 7.4 per cent in August, but the National Association of Realtors cautioned that mortgages from the home sales must still be approved at a time when the financial crisis is making credit for loans difficult to secure.

Karvy Stock Broking Limited has suggested investors to ‘sell’ DLF stock with a target of Rs 325.

According to Karvy, interested investors can sell the stock around Rs 340 with a strict stop loss of Rs 350. 
 
Today (Oct 03), the stock opened weak at Rs 342, against its last closure at Rs 345.25 on the Bombay Stock Exchange (BSE) on Wednesday (Oct 01). Current EPS & P/E ratio stood at 15.91 and 21.42 respectively. The share price has seen a 52-week high of Rs 1225 and a low of Rs 329 on BSE. 

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