Similar interview with Business Standard
Focus on OTC space as it is fast growing segment with no pricing pressure from governmant regulations
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Thats insane, isnt it?
Mr Piramal’s conduct is pathetic on Tata Sons board to oust Cyrus Mistry. Seems he was appointed for this one act just few months back. Anil Singhi raises some very valid points
There is nothing I think that stops Anil Singhvi or for that matter anybody from approaching appropriate forum if aggrieved, class action suit or no class action suit.
What baffles me is that all these people make lots of noise when such CG issues come up and it does come up time and again but when it’s about doing something concrete nobody and almost nobody does anything concrete and it speaks loud and clear about the fairness of the system.
I’m not baffled by Tata-Mistry incident and was having hunches of something when I read some recent articles on Mistry and the way he was trying to consolidate the business however right it may be. It’s in the nature of things that if somebody is allowed to do something however grave it may be he will do it if he thinks it in the best of his interest.
While digging further on the same, came across following articles, which may interest few.
I don’t know what role AP played in the same, but if he did what is made out to be, I’m not pleased by the same as it stands today.
I think we don’t know whether AP has voted on this resolution or not (as we know 2 directors abstained from voting). Even if he did vote ,there may be reasons which we are not aware or and privy to. Let’s not assume that he voted with ill intent or favoring one party over other.
I think this Tata-Mistry saga is just beginning. So let’s not start taking sides as I am sure lot more information will come out in the days and months to come.
Excellent results from Piramal, once again. Consolidate revenue up 31%, Operating profit 67%, net profit up 30%. Once again, financial services supporting most of the growth.
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2 People who abstained are Farida Khambatta and Ishaat Hussain…
MAT credit is one off or will continue for how many qrts?at normal tax rate net profit growth should be around 23%?
Piramal continues to good job on companies it acquired. One example is Lehigh Valley inhalation anesthetics facility acquired in 2009 , now part of Piramal Critical Care
Piramal Imaging receiving Shonin approval from Japan
Impact of Demonetisation on the real estate financing arm of Piramal
Total Real Estate Portfolio (on balance sheet) = Rs 11533 Crs
Construction Finance Portfolio = Rs 4844 Crs
Structured Finance = Rs 6689 Crs
My thoughts
Construction finance is probably unsecured and a reduction in velocity of sales will leave a severe dent on recoverability
Structured Finance is securitized. However, taking possession of land/project will be difficult and a long drawn out process.
What are the members’ thoughts about the impact of curtailment of black money through demonitisation on this loan portfolio?
Demonetization is a big unknown for most of the companies operating in financial arena. My view is that:
- Piramal has lent money to real estate with collateral coverage of 1.5-2X (not sure where I saw this).
- Piramal has expertise in real estate.
So even if some of the loans were to become NPA (despite the collateral coverage) they will be able to take possession of the property and drive that to completion.
On the flip side, a lot of their borrowing is short-term - Commercial Paper - and that will benefit from the lower cost of borrowing.
Overall, my view is that the negatives and positives will balance out.
Rajeev
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I agree that Piramal would have followed due process and lent with enough collateral plus a step-in clause built into the agreement with the Developers
I believe Piramal has lent to companies with real estate townships (Ozone Urbana Bengaluru) or high ticket / luxury projects like Bestech
What would be the impact of a 20% drop in real estate prices in that segment?
What is the chance that real estate prices of townships and high ticket real estate will fall?
Mr. R V Deshpande, Minister for Large & Medium Industries & Infrastructure Development, Government of Karnataka
With his team met industrialist Mr. Ajay Piramal, Chairman Piramal Group as a part of Make In India roadshow.
Sri Krishna Trust through its Trustees Mr. Ajay G. Piramal and Dr. (MRs.) Swati A. Piramal acquired 0.17% shares of Piramal Enterprises Ltd.
November 15, 2016 - 1,24,901 shares
November 16, 2016 - 1,00,644 shares
November 17, 2016 - 69,195 shares
Total : 2,94,740 shares purchased.
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Another round of Promoter buying !!!
November 18, 2016 - 27,897 shares
November 21, 2016 - 19,779 shares
November 22, 2016 - 528 shares
Total : 48,204 shares purchased
Yes, Promoters buying shares of their own company from the secondary market is a positive sign and it immensely increases retail investors confidence.
On most occasions whenever promoters buys shares of their company, it has given indication that the business is undervalued and they see long term value in it.
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Innovative way of Real Estate funding !!!
Piramal Fund Management aims Rs 10,000 crore lease rental discount deals by FY18
Piramal Fund Management has expanded its portfolio to offer flexi lease rental discounting (LRD). Through these transactions, the fund will discount future cash flows of completed and leased commercial assets including office blocks and retail malls.
The fund has already identified an initial pipeline of deals and is in advanced talks with two developers–one each in Mumbai and Bengaluru–to conclude LRD deals totaling Rs 1,500 crore for their leased office complexes. The fund intends to scale its book size up to Rs 10,000 crore by 2017-18.
The fund has already identified an initial pipeline of deals and is in advanced talks with two developers–one each in Mumbai and Bengaluru–to conclude LRD deals totaling Rs 1,500 crore for their leased office complexes. The fund intends to scale its book size up to Rs 10,000 crore by 2017-18.
The two LRD deals that are currently in advanced stage of discussions are for a 3.5 lakh sq ft and 3.3 lakh sq ft office projects with both leased up to 95%.
Hi i have did some calculation as per scenraio 1 even at current rate 2100/sh value as per peer compairson and than from scenario 2 value 1600/sg after considering 2% credit cost in lending book and than 15-18% cagr based on the past record investment done
looking for your valuatble feedbacks
scenario 1
scenraio 2
than uploaded from twitter jagdeesh account -his inputs of piramal conf call
regards
piramal 2 calc.xlsx (158.5 KB)
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Ajay Piramal’s life mantra: Earn with integrity, give back to society
Read more at:
http://economictimes.indiatimes.com/articleshow/55572946.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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Piramal Fund To Expand Portfolio In Commercial Realty Segment
PFM has been providing unique financial solutions for its development partners with products such as Mumbai Redevelopment Fund, Apartment Fund, Piramal Preferred Partner, among others.