Komal Meswani

Big Bazaar likely to be Hived off by Feb-2010

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Pantaloon Retail’s (PRIL) planned hive-off of Big Bazaar is on track and is likely to be consummated by February 2010, according to management. Pantaloon’s management indicates that hive-off of Big Bazaar and Food Bazaar is on track. The hive-off will pave the way for fund-raising at the Big Bazaar level and induction of a foreign food retailer. The latter, which management has hinted at in many forums, is likely to provide the next leg-up to Big Bazaar’s growth trajectory. Big Bazaar and Food Bazaar account for 70% of PRIL’s (standalone) revenues and 67% of its total retail space.

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Mumbai water supply crisis a negative for Builders / Realty

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Maharashtra Chief Minister announced that new real estate projects which consume c200,000 litres of water supply per day (typically high rise buildings and townships) will not be awarded permissions until additional water supply from the Middle Vaitarna project is available after March 2012.

While the issue is a negative development for Mumbai property developers, we believe the impact will be limited for the following
reasons: 1) large projects (high rises and townships) typically take more than 24-30 months for construction before customers receive product. Hence any new project will incur a limited impact as it would be completed after March 2012; and 2) slum and other

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JIK Industries opens retail outlet in South Mumbai

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JIK Industries has informed that it has opened a retail outlet in South Mumbai of crystal and glassware products which form a part of Luxury Goods segment, inspired by world art glass designs and combining them with Indian traditional craft. JIK is the single largest and sole producer and distributor of branded, hand-made, lead-free crystal … Read more JIK Industries opens retail outlet in South Mumbai