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Close to 54% Portfolio Covered Under Clss Under The Pmay Plans To Set Up 30 Offices Across In The Next Three Years


Mumbai, February 23, 2017: Khush Housing Finance (KHFL), a leading housing finance which focuses on EWS and urban poor, today announced that the promoter group has infused additional Rs 25crore in company’s equity capital, thereby taking company’s equity capital to Rs 50 crore. These additional funds will be available to the company; till such time that the sanctioned borrowings are drawn down.

KHFL is promoted by the Om Kush Group. Mr AmitMagia, CEO & Managing Director, KHFL said,”We are currently in talks with couple of public sector banks and private sector banks to raiseadditional funds requirements for our next phase of growth. In the interim period, a few large NBFCs have also evinced interest in funding us and we would be able to close these transactions very shortly. “

KFHL, which commenced its lending operation January 2016, largely operates under the PradhanMantriAwasYogna (PMAY) in the cities and towns designated by NHB. As on January 31, 2017, the company had done business of Rs 52 crore.

Currently, the company has close to 500 customers and plans to expand its customer base to around 700 by March 31, 2017. It also plans to increase the total business size to Rs 80 crore during the same period.

It plans to set up 30 offices across the country in the next three years. “We are also looking to expand our presence in the other states by opening new offices in the coming months. It currently operates out of 10 branches – 8 in Maharashtra (Thane, Virar, Pune, Kolhapur, Aurangabad, Ahmednagar, NashikandBorivali) and two in Gujarat (Surat& Ahmedabad). “This is a scalable business and we are currently geared to garner a business of Rs. 5 crore per month/per branch, inform Amit Magia.

Close to 54 per cent of KHFL’sportfolio is covered under the Credit Linked Subsidy Scheme (CLSS) under the PradhanMantriAwasYogna (PMAY). This means that these eligible customers receive interest subsidy under the PMAY of approximately Rs. 2.20 lakhs per customer.Effectively, this would mean that the EMI payable by these customers covered under CLSS will be much less with their loan outstanding coming down by the subsidy amount. KHFL’s Loan–to–Value (LTV) improves significantly thereby improving the quality of our Asset.

AddsMr. Amit Magia, “To the customers too, it would mean significant benefits. The property – post receipt of CLSS – will appreciate by 20-30% and he is motivated not to default on the loan – as a default would mean he will lose the CLSS benefit which has to be returned. “

Corporate Comm India(CCI Newswire)

 
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Invests Rs. 20 crore in setting up a 3rd line of quartz stone facility at its Himmatnagar plant in Gujarat dedicated for exports

Highlights:-

· To double the annual capacity of quartz stone to 5.28 lakh square meter in FY 17-18 from 2.64 lakh square meter currently;

· Launching 20 mm& 30 mm thickness slabs of quartz in the large format of 10.5 feet X 5.25 feet; Commercial production expected in the month of April 2017.

· Expects exclusive export turnover of Rs. 60 crore in the first year of operations from the new facility. Current orders in hand for new Quartz plant is Rs. 6 crore.

· Currently AGL have market share of around 20-25% in the Indian Quartz market and also eying to increase our share in exports quartz market too.

· Quartz as a segment contributes Rs. 45 crore sales which company expects to increase to Rs. 125 crore in the next 2-3 years

New Delhi, February 32, 2017: Asian Granito India Limited (AGIL), one of India’s largest tiles companies is eyeing for a leadership position in flooring solution – Quartz stone. Company is investing Rs. 20 crore in setting up a 3rd line of quartz stone facility at its Himmatnagar plant dedicated for exports. Post expansion, company will be doubling the capacity of its Quartz stone to 5.28 lakh square meter per annum in FY 17-18 from existing 2.64 lakh square meter. The new expansion is likely to fetch additional sales of Rs. 60 crore in FY 17-18. Target market for the new quartz plant will be counter tops and interiors (floor) in kitchen, Malls, airports, high end hotels and other places. Replacement of counter top is the largest market for engineered quartz in U.S.

AGIL’s current capacity of quartz stone stands at 800 square meter a day from its existing two lines which it plans to double to 1,600 square meter per day. Company is also launching 20 mm & 30 mm thickness slabs of quartz in the large format of 10.5 feet X 5.25 feet. Commercial production of the new range will start in the month of April 2017.

Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd, said, “Quartz as a segment contributes Rs. 45 crore sales currently which company expects to increase to Rs. 125 crore over the next 2-3 years. The new line of quartz will be dedicated to exports. Company currently manufactures quartz slab of 12-15 mm thickness and will be producing 20 mm & 30 mm thickness slabs at the new facility. Initial response from the export market is very good and initially company has orders of Rs6 crore.”

Market for quartz stone in India is estimated at around Rs. 200-250 crore and growing at 25-30% per annum. Quartz has fast emerged as the latest trend for flooring solution and its demand is growing across the world on account of aesthetics, durability, strength, variety and less wastage or damage compared to natural Marble. In India demand for the quartz is limited to high value hotel, expensive homes etc.

Mr. Mukesh Patel, Managing Director, Asian Granito India Ltd, said, “Post expansion revenue contribution from quartz segment is expected to double from 4.3% to 9% of the total sales and we also targeting to increase our share in export quartz market for 2017-18. Quartz is a premium product and hence we also expect to earn a healthy EBITDA margin in the range of 30-32% from the expanded facility.”

Quartz slabs are mostly preferred for use in the high traffic areas such as malls, airport, railway station, hospitals, commercial spaces etc. United States is the biggest market for quartz followed by Europe, Canada, Australia and New Zeland. As per our internal analysis total market size for engineered quartz stone across world is around 5.7 million square meters of which US market is around 70%.

Asian Granito India Ltd. (AGIL) has emerged as one of the largest ceramic companies of India in a short span of 16 years from 2,500 square metres per day in the year 2000 to over 1 lakh square metres currently (including outsourcing). Company offers wide rand of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble composite & Quartz etc.

Corporate Comm India(CCI Newswire)

 
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New Delhi, February 23, 2017: Honeywell offers one of the broadest and most comprehensive lines of indoor air purifiers in India for homes, cars and institutions, and now has expanded the offering to apartment homes.

The Honeywell Lite indoor air purifier is a compact and powerful do-it-yourself (DIY) product, featuring an intuitive user experience and beautiful design specifically for apartment homes. It is capable of purifying air in modern, compact apartment homes from 175 to 250 square feet – mainly in rooms such as bedroom, study room, puja room and kitchen.

“Most people are unaware of the more harmful air pollutants that flourish indoors in the seemingly safe enclosures of our homes, cars or offices,” said Vinayendra Jain, director of Connected Homes, Honeywell Home and Building Technologies, India. “Furnishings, cleaning agents, cooking, pets and accumulated dust in enclosed spaces contribute to this indoor pollution. As such, it is important to educate people about indoor air pollution.”

The Honeywell Lite indoor air purifier offers a range of features that effectively address indoor air pollution. It comes with a powerful clean air delivery rate (CADR1), aesthetic design, increased durability with an anti-UV-coated outer body, and interactive touch panel. The touch panel offers various controls including child lock, timer and sleep mode. The timer feature offers a unique advantage by enabling longer filter life and reduced running costs.

The power consumption of Honeywell Lite indoor air purifier is economical, using electricity equivalent to only three compact fluorescent light bulbs. The filtration involves a three-stage advanced process to eliminate more than 99 percent of air pollutants that pass through the filter, including PM2.5, pollen, bacteria, formaldehydes, toxic gases and odor – all of which are common indoor air pollutants in homes.

Priced at INR 19,990, the product offers great value for apartment home owners who are looking for a cost-effective solution to the increasing air pollution problem.

“Space constraints or price tags should not prevent anyone from being able to afford a good clean air solution. The Honeywell Lite Indoor Air Purifier is an affordable solution for anyone who wants a safer, healthier, and cleaner environment," said Jain.

Honeywell is one of the leading brands globally in the indoor air purifier space with one of the widest portfolios, cutting edge technology, and a combination of intuitive and user-friendly design principles that provide powerful performance and deliver cleaner indoor air efficiently.

[1] Clean Air Delivery Rate (CADR) indicates the volume of filtered air delivered by an air purifier

Corporate Comm India(CCI Newswire)

 
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Bangalore, February 22, 2017: While most of the developers in the city are competing for full-fledged amenities for home buyers like well-equipped gymnasiums, pools, tennis courts and even theatres, Godrej Properties Ltd, one of India’s leading real estate developers is going one step ahead in offering the prospective home buyers with unique reading experience.

JustBooks Solutions, India’s first and largest community library chain has tied up with Godrej properties to launch a library in their upcoming project - Godrej Platinum in Hebbal Bangalore. As part of the agreement JustBooks will be providing library management services and books to run a library within the campus and will be open to residents.

This is an attempt to bring library services as an embedded part of the facilities being presented to potential residents and apartment owners in this project.

Speaking on the occasion Mr. Sridhar Rajaram, CEO, JustBooks Solutions said "We see a trend in the real estate sector opting for a library as a must have amenity for its customers. This is an interesting way of building reading habits among masses to contribute for knowledge economy.”

Commenting on the tie-up Mr. Sriram Iyer, Business Head – South & East, Godrej Properties, said “We are very happy to commence this offering at Godrej Platinum. Our customers are a part of our larger family and we believe this will give them an opportunity to immerse themselves in the wonderful world of books.”

Corporate Comm India(CCI Newswire)

 
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The exhibition will serve as a huge platform for home buyers to avail attractive offers from a wide range of properties along with 8.5% ROI & Zero Processing Fees

Key Highlights:

· To be held on 25th and 26th Feb at Shangri-la Hotel in New Delhi

· Exclusive rate of interest @8.50% p.a. for walk-in customers; Zero processing fees

· Attractive offers from close to 25 leading real estate developers of Delhi NCR at the expo

· Properties starting from INR 20 lacs

· Complete digital experience for delegates and attendees












New Delhi, February 22, 2017: PNB Housing Finance Limited, one of India’s premier and fastest growing housing finance companies, is organizing ‘Ghar Utsav - The Dream Home Expo’, on 25th and 26th February 2017 at Shangri La Hotel in New Delhi.

The one of its kind event being organized is aimed at bringing prospective home buyers and prominent real estate developers together on a common platform in an effort to consolidate the market. Prominent developers of Delhi NCR, the likes of ATS, Mahagun, Saya, Lotus Greens, Vatika, Panchsheel, Omaxe and Gaurs, are displaying and offering their products and attractive deals to future home owners.

Speaking on the exhibition, Mr. Sanjaya Gupta, MD, PNB Housing Finance Limited said, “This is an optimum time to hold such an event, especially when the interest rates have softened and are among the lowest in the last many years. The demonetization effects are slowly fading, thus attaining normalcy. Through this platform, we want to reiterate that people should take a leap forward to purchase their home if they have been postponing the decision till now. Currently, the choices are wide, interest rates are comfortable and this is an appropriate time, especially with RERA underway, which is expected to ensure timely deliveries.”

“In the two day Ghar Utsav expo, we intend to offer the walk in customers’ rate of interest which is as low as 8.5% p.a. and zero processing fees coupled with some very attractive offers by reputed real estate developers. The Delhi edition shall be the flagship event for us and it is slated to be an annual, pan India event in the future”, added Mr. Sanjaya Gupta.

CREDAI National President and Chairman of ATS, Mr. Getamber Anand, said, “This is a great initiative by PNB Housing and we are excited to be a part of it. It is an opportunity for people to avail benefits of low rate of interest as well as best of property offers under a single roof. With easing interest rates and affordable housing getting the infrastructure status, we anticipate higher turnout in terms of home buyers in this calendar year, thus building positive sentiments.”

Corporate Comm India(CCI Newswire)

 
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Rs.5,590 cr investment approved with Central assistance of Rs.1,188 cr

Madhya Pradesh gets 82,262 houses, J &K-4,915, Dadra and Nagar Haveli-803

New Delhi, February 22, 2017: Ministry of Housing & Urban Poverty Alleviation today approved construction of 90,095 more affordable houses for the benefit of urban poor under Pradhan Mantri Awas Yojana (Urban) with an investment of Rs.5,590 cr and central assistance of Rs.1,188 cr.

Madhya Pradesh has been sanctioned 82,262 houses in 49 cities and towns with an investment of Rs.5,260 cr with central assistance of Rs.1,071 cr. Jammu & Kashmir got 4,915 houses in 24 cities and towns with an investment of Rs.240 cr and central assistance of Rs.74 cr. Dadra & Nagar Haveli’s capital Silvassa has been sanctioned 803 affordable houses with an investment of Rs.26 cr and central assistance of Rs.12 cr.

The approval accorded today was for construction of 46,823 new houses under the Beneficiary Led Construction (BLC) component of PMAY (Urban), enhancement of 773 houses in Jammu & Kashmir under BLC and building 42,499 new houses in Madhya Pradesh under Affordable Housing in Partnership (AHP) component.

In Madhya Pradesh, another 39,763 new houses will be built under BLC component under which an eligible beneficiary is assisted to build a house on the land owned by him/her.

City-wise approvals in Madhya Pradesh include: Indore-30,789 houses, Ratlam-6,419, Sagar-3,156, Ujjain-2,884, Katni-2,800, Shivpuri-2,625, Chindwara-2,508, Nagda-2,073, Jabalpur-2,012, Datia-1,726, Singrauli-1,716, Dabra-1,720, Vidisha-1,513, Damoh-1,480, Sehore-1,200, Sidhi-1,057, Astha-1,000 and Unchehara-1,000.

In Jammu & Kashmir, Srinagar has been approved 663 affordable houses, Handwara-602, Badgam-476, Baramulla-393, Doda-306, Pulwama-270, Kargil-261, Sopore-205, Ganderbal-185, Bhaderwah-176, Shopian-159, RS Pura-143, Samba-121, Kishtwar-113, Leh-99 and Poonch-96.

With this, total number of affordable houses approved for Madhya Pradesh under PMAY(Urban) has increased to 1,87,135 and for Jammu & Kashmir to 5,864.

With today’s approvals, construction of a total number of 16,51,687 affordable houses for the benefit of urban poor has been sanctioned so far under PMAY (Urban) with a total investment of Rs.89,072 cr with central assistance of Rs.25,819 cr.

Under BLC and AHP components of PMAY (Urban), central assistance of Rs.1.50 lakh is provided for each beneficiary.

 

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