GODREJ PROPERTIES LIMITED Q3 & 9M FY2013 RESULTS

Posted on February 1, 2013

Consolidated 9M FY2013 Total Income stood at INR 733.7 crore. Net Profit  stood at INR 85.2 crore in 9M FY2013. Consolidated Q3 FY2013 Total Income stood at INR 267.8 crore. Net Profit  stood at INR 35.5 crore in Q3 FY2013

New Delhi, January 30 2013: Godrej Properties Limited (GPL), a leading national real estate developer, today announced its financial results for the quarter and nine months ended December 31, 2012.

CORPORATE HIGHLIGHTS:

Business Development Highlights

New deal flow momentum remains healthy with five new projects with 4.3 mn sq.ft. saleable area added to the portfolio in FY2013 YTD

·         Curry Road Redevelopment, Mumbai

o   We executed a Development Management Agreement for a project with 0.12 mn sq.ft. saleable area at Curry Road, Mumbai

o   GPL will receive 10% of revenue as development management fees

o   This is the 4^th consecutive quarter in which GPL has added a new redevelopment project

Sales Highlights

Demonstrated strong momentum in ongoing sales

• Q3 FY2013 witnessed total booking value of INR 672 crore and total booking volume of 1.04 mn sq. ft. as compared to total booking value of INR 364 crore and total booking volume of in 0.57 mn sq. ft. in Q3 FY2012
• Residential projects recorded booking value of INR 550 crore and booking volume of 0.94 mn sq. ft in Q3 FY2013 . Commercial projects witnessed booking value of INR 122 crore and booking area of 0.10 mn sq. ft in Q3 FY2013

Construction Highlights

·         Completion certificate received for Godrej Prakriti Phase I

Awards & Recognitions

GPL received six awards in Q3 FY 13

·         Platinum Award for Excellence – GPL received this award from Construction World for being selected as one of only 5 developers in India who have featured in each of the six years of their annual list of the country’s top 10 builders

·         Brand Excellence Award – GPL won the award in the real estate category at the Zee Business Awards

·         3 awards at CNBC Awaaz Real Estate Awards, 2012

o   Godrej Garden City : ‘Best Residential Project’ in Ahmedabad, in the mid-segment category of projects that are 70% complete

o   Godrej Prakriti : ‘Best Residential Project’ in Kolkata, in the mid-segment category of projects that are 70% complete

o   Godrej Waterside : ‘Best Commercial Property’ in Kolkata

·         Best Upcoming Township – Godrej Anandam, Nagpur received this award from My FM, Dainik Bhaskar and CREDAI Nagpur

Commenting on the financial performance in Q3 & 9M FY2013, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said:

“Godrej Properties continues to see strong momentum in launches, bookings and new business. We have also sustained new sales momentum by delivering four successful launches across the key markets of Mumbai, NCR and Bengaluru during Q3 FY2013 . Our presence in the Mumbai redevelopment space was further strengthened with the addition of Curry Road project in this quarter.

We are strategically developing our presence in crucial markets and adding value accretive transactions to our portfolio which, clubbed with our unmatched brand equity, differentiated business model and strong execution capabilities, will drive our future growth.”

Financial Overview (Consolidated)

9M FY2013 performance overview (Compared with 9M FY2012)

·         Total income increased to INR 733.7 crore as compared to INR 446.6 crore

·         EBITDA was INR 195.8 crore as compared to INR 105.7 crore

·         Net profit stood at INR 85.2 crore as compared to INR 58.1 crore

Q3 FY2013 performance overview (Compared with Q3 FY2012)

·         Total income increased to INR 267.8 crore as compared to INR 169.9 crore

·         EBITDA was INR 76.5 crore as compared to INR 46.8 crore

·         Net profit stood at INR 35.5 crore as compared to INR 28.6 crore

V-Mart Retail Limited

Allocates 674,400 shares to Anchor Investors at a price of Rs 210/- per Equity Share aggregating to Rs. 141.62 Million

New Delhi, January 31^st, 2013: The board of directors of the V-Mart Retail Limited (“V-Mart” / "Company"), in consultation with the Selling Shareholder and the Book Running Lead Manager, Anand Rathi Advisors Limited, has finalized allocation of 674,400 equity shares in aggregate, to Anchor Investors at a price of Rs. 210/- per equity share aggregating to Rs. 141.62 Million.

The total allocation of 674,400 equity shares to Anchor Investors in the following manner:

Sr. No.	Name of the Anchor Investor	No. of Equity Shares Allocated	% of Anchor Investor Portion (%)
1	IDFC Premier Equity Fund	436,304	64.70%
2	Morgan Stanley Mutual Fund A/C Morgan Stanley A.C.E. Fund	238,096	35.30%
	Total	674,400	100.00%

V-Mart Retail Limited is proposing a public issue of 4,496,000 equity shares of face value of Rs. 10 each (“Equity Shares”) for cash at a price of Rs. [—] per Equity Share including a share premium of Rs. [—] per Equity Share, aggregating up to Rs. [—]Million (the “Issue”) comprising of a fresh issue of 2,761,000 Equity Shares by the Company (the “Fresh Issue”) and an offer for sale of 1,735, 000 equity shares by Naman Finance And Investment Private Limited. The Issue will constitute 25.04% of the post issue paid-up capital of the Company.

The Company has decided a price band of Rs 195 to Rs 215 per Equity Share of the face value of Rs 10 each. The Issue will open for subscription on Friday, February 1, 2013 and will close on Tuesday, February 5, 2013.

V-Mart Retail Limited, is one of the pioneers in setting up stores across various small Indian towns and cities including Sultanpur, Ujjain, Motihari (Source: Indian Retail Industry 2012 – CARE Research). V-Mart primarily operate in Tier-II and Tier-III cities, with a chain of “value retail” departmental stores offering apparels, general merchandise and kirana, catering to the entire family. Based in New Delhi, the Company’s operations are spread across northern, western and eastern parts of India.  The Company currently own and operate 62 stores spread across 53 cities and 10 states and union territories, with a total area of 5.06 lac Sq. Ft. In October, 2003 the Company opened its first store by the name of “V-Mart” at Ahmedabad, Gujarat. The company’s stores are located in New Delhi, Gujarat, Uttar Pradesh, Bihar, Punjab, Chandigarh, Haryana, Jammu and Kashmir, Rajasthan and Madhya Pradesh. The average size of the store is approximately 8,000 Sq. Ft.

The Company has established stores in Metro, Tier-I, Tier-II and Tier-III cities which are primarily located as standalone stores in high-street areas and shopping hubs of such cities. The Company follows the concept of “value retailing“ to target the strata of the population belonging to the expanding “aspiring class“ and “middle class“ based on the customer’s socio-economic conditions, purchasing power, demographic details and customer trends. The Company believes its offerings in untapped markets, provide its customers with a different shopping experience, comprising of a vast range of value retail products under a modern ambience and feel of a large retail mall.

The Company proposes to utilize funds, which are being raised through the Fresh Issue, towards (a) opening of 60 new stores; (b) expansion of distribution centers; (c) working capital requirements; (d) general corporate purposes; and (e) meeting the Issue expenses.

The Equity Shares are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited.

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Feb 1 Vol 01, Issue 1138 This is a MINI EDITION of the SPORTZPOWER DAILY NEWSLETTER for our NON-EXCLUSIVE SUBSCRIBERS. TODAY'S TOP HEADLINES ICC to deliberate on balancing intl calendar, domestic T20 leagues WRC promoters Red Bull, sportsman sign extensive b'cast deals, ESS in Asia MP & Silva scores Premier League b'cast rights deal for Middle East, North Africa Uttarakhand Lions' unveils jersey; LR Active Oil becomes title sponsor FIVB signs World Cup deal with Japan for 2015 and 2019 FIBA signs global partnership with Beko till 2014 ESPN SportsCenter anchor Kevin Negandhi joins EFLI board Darren Lehmann named as new coach for Kings XI Punjab Christian Horner signs multi-year extension to Red Bull Racing contract To receive a FULL EDITION of the Newsletter and GET UNLIMITED and UNRESTRICTED ACCESS to all content on SPORTZPOWER,  please become an EXCLUSIVE SUBSCRIBER NOW!  CLICK HERE TO AVAIL OF THE LIMITED OFFER OPEN ONLY TILL 11 FEBRUARY 2013! Sports Law in 2012 : The Year in Review 2012 was a thrilling roller coaster ride for the legal eco-system surrounding the sporting world. From the London Olympics 2012 to the Indian Olympic Association’s (“IOA”) disqualification by the International Olympic Council (“IOC”), 2012 has had its fair share of smiles and sighs. The year highlighted some problems which continue to impede the governance of sports, the solutions to which are yet to be seen in the year ahead. With the nexus between sport and the law gaining significant ground in 2012, 2013 could present a kaleidoscope of new possibilities. We reflect on the events, legal hurdles, issues and the solutions 2012 evidenced, as the sporting arena gears up for a promising year ahead.
FROM THE HOME PAGE   VIEW POINT Why Pepsi and Aircel should be worried SPORTZPOWER VIEW - It will do no good for these big brands and similar others associated with the IPL to be seen supporting an event which is perceived as the root cause for the falling standards of the game, leading to national shame  COMMMENTARY Brand-Kill  INSIDE OUT - While Armstrong may not be entirely to blame for the seeming end of amateur and professional cycling as this generation has known it, his is the defining Brand-Kill that will seal cycling’s fate

Neha ends title drought, wins first leg of 2013 Hero WPGT season

Kolkata, January 31: Neha Tripathi managed to keep Smriti Mehra at bay despite a card of five-over 77 on the third and final day of the opening event of the 2013 Hero Women’s Professional Golf Tour on Thursday. After a tight error-filled front nine, Neha totaled 226 to finish three clear of Smriti Mehra (76) and five ahead of Vani Kapoor (76).

It was a good start for Neha, who went through 2012 without a win and was ranked fourth in the Hero Order of Merit. Neha’s last win came in the 2011-12 season. Overall it was Neha’s third title on the WGAI Tour, which started in 2009-10.

Smriti, a 16-time winner on WGAI, was second at 229 and Vani ended third at 231. Rani Sonti (76) was fourth at 239 and Ankita Tiwana (79) was fifth.

Neha, who started the day four ahead of Smriti Mehra, parred the first two holes, even as Smriti had a bogey-double bogey start, extending Neha’s lead to seven shots. When Neha double bogeyed the third and Smriti birdied the same, there was a three-shot swing to reduce the lead to four for Neha. Smriti eagled the fourth and Neha birdied it but the gap was now down to three.

Neha gave Smriti a further opportunity as she dropped another double bogey on sixth and a bogey on seventh before picking a birdie on ninth. Smriti parred from fifth to ninth and turned in 36 as compared to Neha’s 39, reducing the lead to just one shot.

Then Smriti lapsed into a series of errors with four bogeys on back nine, while Neha managed to limit the damage with just two bogeys and emerged a winner by three shots.

Vani bogeyed three times in last four holes to drop from a possible second place to third with a card 76. In all Vani had two birdies and six bogeys.

The second leg of the 12-event Tour will be held at Tollygunge Club from February 4 to 7, followed by the third leg in BPGC, Mumbai from February 25 to 28.

Lenovo remains bullish on its India business

Charts the Unstoppable India plan to sustain leadership position

New Delhi, January 30, 2013: As one of the fastest growing PC markets in the world, India continues to remain a significant contributor to the success of Lenovo in the global PC arena. As the year 2012 came to a close, Lenovo achieved the unique distinction of being the leading player in five out of the seven top PC markets (China, Japan, India, Germany and Russia), and further narrowing the lead between itself and the No. 1 PC maker globally. The company has upheld its streak of outgrowing the overall industry globally for the 14^th quarter in a row and its impressive growth in India over the last nine quarters reflects this global average.

Lenovo entered India in 2005, by acquiring IBM’s PC business and since then has grown its market share exponentially in all segments of the PC market. For the quarter ended September 30, 2012, Lenovo retained its numero uno position in the country with 16.9% market share – a position, it has maintained since Jan 2012 (as per Asia from Pacific PC shipment tracker IDC for CY Q3, 2012 - JAS quarter). Even as the final data for the OND quarter for India is awaited, preliminary estimates from IDC point out that Lenovo continues to grow faster than the overall PC market.

Commenting on the year gone by, Amar Babu, Managing Director, Lenovo India, said, “The year 2012 marked a series of milestones for us – our Protect & Attack strategy, which refers to securing our leadership in our core businesses, while attacking newer opportunities, ensured that our overall profitability was not compromised in the run for market share. I’m happy to inform you that Lenovo has continued to grow faster than the overall market for the last 9 consecutive quarters now. Incidentally, India was one of the first few markets, after China, where we made a successful foray into the smartphone category in November 2012 starting with South India and Gujarat, and we plan to make the range of smartphones available across the country. We will continue to invest in the India business, and I’m confident that we will sustain this momentum in the years to come.”

Given below are some of the key milestones and highlights from Lenovo for its India business for CY-2012.

Protecting and growing the Enterprise Business: A hallmark of its Protect business, the enterprise business continued to contribute to Lenovo’s overall success in the country. Lenovo’s Enterprise PC business leads the segment for the past five quarters consecutively, even outside of mega deals, with a current market share of 28.9%. Major account wins in the Government and Education segments led to Lenovo becoming the leading player in the education vertical with a share of 33.3%. Lenovo also celebrated two decades of the ThinkPad with the launch of the X1 Carbon in 2012.

Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Hyper growth in Consumer Business: With the increasing incomes of the rural consumer as well as enhanced internet connectivity solutions, the consumer PC business holds tremendous potential for growth. Subsequent to its efforts to increase its market share in this segment, Lenovo grew consistently in the consumer PC segment for the last nine quarters and is currently ranked at No. 2 with a 14.1% market share.

Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Tremendous potential in SMB Business: The SMB business continues to grow and in line with the unique requirements that this segment calls for, Lenovo has adopted a differentiated approach for SOHOs, SBs and MBs. With a market share of 6.3% and a ranking at No. 4, Lenovo maintains a bullish outlook on the SMB market. The company expects that 2013 will see a revival in the demand for computing solutions from local small and medium sized enterprises (SMEs) in the country, as they look towards technology to enable them to drive further growth. This will, fuel the demand for low-end PCs like AIOs and traditional desktops in2013.

Note: All figures as per data from IDC for CY Q3, 2012 - JAS quarter

Explosive expansion on Retail front: While Lenovo has numerous tie-ups with large format retailers, to cement its presence in the country, the company also undertook rapid retail expansion in tier III, IV and V cities by investing in exclusive stores – LES (Lenovo Exclusive Stores) and LES Lites. Today with over 1200 LES stores, Lenovo is the largest PC retailer brand in India. Considering that the next wave of growth will arise from tier III-V cities, beyond the top 75 cities of the country, Lenovo hopes to add more stores by the end of this fiscal to drive further growth.

The coming of the PC + era: India will continue to remain one of the fastest growing PC markets in the world and Lenovo believes that the future will be dominated by the presence of four screens (PC, Tablets, Smartphones, and Smart TVs). Growth in 2013 will be driven by the rapidly increasing demand for smartphones, tablets and other unique form factor computing devices like Ultra portables and Hybrids.  Lenovo is confident that it will continue to outperform and outgrow the market in India with its ‘Unstoppable Lenovo India’ plan where it wants to become the brand of choice for partners and customers. As a part of this goal, Lenovo intends to become the leading player, or be at least one of the leaders in each segment of the PC +era. Investments in R&D to fuel the need for innovative computing devices will continue, and the company will remain committed to the market to ensure that growth is sustainable and consistent.

Weekly Watchdog
January 31, 2013 

Center reports on the money bankrolling big-spending nonprofits Since the U.S. Supreme Court’s controversial Citizens Uniteddecision in 2010, nonprofits such as the American Future Fund have played a more prominent role in electoral contests — all while keeping their donors secret. During the 2010 midterm elections, politically active nonprofitsoutspent super PACs by a 3-to-2 margin. The American Future Fund ranked third among “social welfare” nonprofits in spending in the 2012 federal election,according to the Center for Responsive Politics, trailing only the Karl Rove-affiliated Crossroads GPS andAmericans for Prosperity, which is backed by conservative billionaire brothers Charles and David Koch. The American Future Fund has raised more than $60 million, with spikes in contributions coming in election years. Much of that money has come from another conservative “social welfare” nonprofit that doesn’t disclose its donors by name — the Arizona-based Center to Protect Patient Rights. The nonprofit has no website and lists its address as a post office box in Phoenix. It was launched in 2009 by Republican operative Sean Noble, who has extensive ties to the vast political network underwritten by the Koch brothers.   Read More ›› Share From the Primary Source: Major retailer seeks help on K street The teen- and twentysomething-focused clothier, Urban Outfitters, has hired Abraham & Roetzel LLC, the lobbying firm of former Sen. Spencer Abraham, R-Mich., to represent it, according to a new U.S. Senate lobbying registration filing. "Retail" and "federal policy involving economic development and urban development" are the issues on which Abraham & Roetzel will lobby for Urban Outfitters, the filing states. Federal records indicate that this is the first time Urban Outfitters has hired federal-level lobbying representation. In April, the company will be required to disclose how much it paid for the help. Join The Center’s ‘Primary Source’ reporters Dave Levinthal and Michael Beckel for a discussion on campaign finance in a live chat on Monday, Feb. 4, at 1 p.m. ET.   Read More ›› Share IMPACT: More states seek reform after Center’s ‘State Integrity Investigation’ In the 10 months since The Center launched the State Integrity Investigation in collaboration with Global Integrity and PRI/Public Radio International, more than 12 states have proposed new legislation or started a reform campaign. Four more states have passed new measures. The latest actions come from Maine and North Dakota. InMaine, legislation to make it unlawful for state officials to leave their jobs and immediately go to work for industries they regulated – the so-called “revolving door” – is one of several ethics bills expected to be debated this session. And lawmakers in North Dakota have introduced a package of ethics reform bills that would revamp the state’s oversight of its politicians. Dubbed the Sunshine Act, the measures would create an ethics commission to investigate state officials and would tighten campaign finance reporting rules, among other changes. What grade did your state earn?   Read More ›› Share

Shedding light on secret spenders Last year, the Center for Public Integrity’s investigative work was cited nearly 15,000 times by other media organizations. I expect that number will grow this year. That’s in part because of a new Center project launched this week called Primary Source. Primary Source will publish daily original reports on all things influence-related: examinations and analyses of primary source documents pertaining to political contributions, spending, lobbying and other forms of special interest influence. Primary Source is part of the Center for Public Integrity's larger Consider the Source project that focuses on developments in the post-Citizens United world of money and politics. The 2012 campaign may be over, but the money and influence game continues apace. We want to show where that money comes from. For example, Primary Source reported that a brand new conservative group, American for a Strong Defense, just popped up two weeks ago and started buying hundreds of thousands of dollars in ads against the Senate confirmation of former Senator Chuck Hagel as Defense Secretary. Meanwhile, Sarah Palin’s PAC (Sarah PAC) still has $1.15 million in the bank and remains a political force, even if its namesake has dropped her Fox TV contract. And there is a new super PAC for Hillary Clinton, a group called "Ready for Hillary" registered Fridaywith the Federal Election Commission. These and other influence updates will find their way to Primary Source with an eye on naming those who seek to manipulate public opinion and elected officials for political gain. Please bookmark Primary Source here, subscribe to its RSS feed here, follow daily updates on Twitter at @PublicIand "like" us on Facebook. Also be sure to send in your tips, hints and suggestions totips@publicintegrity.org. Until next week,   Bill Buzenberg Executive Director

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