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Gala Group launches another four story empire with exclusive showrooms on RV road

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suniel_shetty

Bengaluru: No matter you build, Gala group has the interior decorative products for you. Trendy and affordable, Gala Square launched at #125, RV road, VV Puram, near lalbagh west gate on Sunday, 29th may 2016. Bollywood celebrity Suniel Shetty and Chairman, Euro Group of Companies, Shri Nenshi L Shah inaugurated the new campus as chief guest and guest of honour.

About Gala Group

What started off in 1998 as a dream, has now manifested into a reality. 18 years ago, Shri Kiran Gala dreamt of a house that can help people build their homes. Sharing his passion, were his two brothers Mukesh & Manish Gala and together, they start with one product. Brick by brick, Gala group is now a vast vessel, with over 16 smart and quali-fied entrepreneurs, spreading over 3 acres and 65,000 square feet of display area. Selling is an art but the ability to weave a families home requires a keen understanding of business and relationships. Displaying over 1,50,000 articles, this family run business has transcended boundaries of normality and aimed for the skies. Gala square is an extension that ascends to achieve the same vision.

On 29th May, Gala group succeeds in reaching another milestone. Launching a four story empire on RV Road (Near Lalbagh west gate) that would display the finest fin-ished products from across the globe, Gala Square is not an expensive affair but a luxu-rious display of quality.

Many can dream but to bring to life a success story takes a well oiled machine with the right balance of ambition, hardwork, people and passion. On every square inch at Gala square, you can experience the love for interior decoration embedded in their products, service and display and they are talking about more than a handful. Starting from Veneer, Gala group has now marked their territory in every necessity like laminates, plywood, wooden flooring, wallpapers, Corian, Designer doors, stone cladding, stone highlighters, architectural hardware, door locks, curtains, upholstery, carpets, aluminium composite and decorative lights and fans. Not only this, Gala group has succeeded in

working with many international brands like Hafele, Blum, Kohler, Grohe, Kaindl, Yale and MCM Spain.

It has taken Gala Group 18 years of hardship to cater Indian home makers with a single destination empire, a one stop solution for every interior need. It guarantees a customer no reason to step outside and wander around the busy streets. From impeccable as-sistance to quality service, Gala Group has mastered the art of providing interior decor and Gala Square is expected to be a reflection of the many years in learning.

As a pursuit to perfection and holistic development, this family run business can soon be expected to compete in the big leagues. Rest assured, with their intention for progress, Bangalore can soon expect to have houses and commercial projects in hospi-tality, software and corporate sectors own the finest articles from across the globe.

Shriram Luxor Is Pre-Certified Gold By Indian Green Building Council

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IGBC certificate

Shriram Luxor, a residential project from Shriram Properties has been pre-certified gold by Indian Green Building Council. The certification duly signed by the Chairman of IGBC and IGBC green homes rating demonstrates Shriram Luxor’s intent to design and build a high performance residential building in accordance with IGBC Green Homes criteria.

“We are pleased to have achieved this milestone, and it proves our longstanding commitment towards the environment and society we live in. It’s our endeavour to build properties which are in harmony with nature optimising the five elements of land, resources, energy, water and air,” the Managing Director of Shriram Properties, M. Murali said.

The certification was conferred in February 2016, and is a major milestone for Shriram Properties in their endeavour in building greener and more eco-friendly projects.

Some of the key green features of the project are as follows:
High SRI material on roof to reduce heat
Large glazed windows to ensure natural light and cross ventilation
Recycled water used for landscape irrigation
Natural rainwater collection to replenish the water table
Electric Car Charging Stations
Rainwater Harvesting System to conserve water
Caters to differently abled (ramps at main entrance)
Low Volatile Organic Compound (VOC) paints are used for internal coatings and sealants to ensure a healthy indoor environment
Minimization of soil erosion during construction
Protection of top soil and reuse of the same for landscaping
Use of CFC free refrigerants in air conditioning units
Good practices to reduce construction waste generation at site during construction and reuse of construction waste generated to divert for land fills

About the project:

Shriram Luxor is built in 5 acres of land offering 2, 2.5 & 3 BHK apartments with 8 blocks, G + 13 & 4 units per floor. Shriram Luxor offers you the perfect lifestyle that many only dream about. None of the homes at Shriram Luxor share a common wall offering great privacy. The modern & compact design is open on all sides for maximum light, ventilation & privacy. There are no dead space & passages. The living room has a private family deck.

There are many locational benefits of Shriram Luxor. It is 8 kms from Manyata Tech Park, close to Jplan Infotech, Philips Software Centre, Emmosys Technologies, 20 kms from city railway station and there are many reputed schools & health care centers in the vicinity.

One of the big advantages of the project is that it is eligible for 90% home loan as it is pre- certified Gold by IGBC.

About Shriram Properties:

Shriram Properties, the property development arm of the Rs. 90000 cr financial giant Shriram Group, Chennai, is a multi-crore company with nearly Rs 25000 crs business across the country. The company has so far delivered over 12 million Sq ft of residential and commercial built up space across the country and another around 60 million sq ft. is under various stages of development.

One of the forerunners in Indian Real Estates, Shriram properties is a trusted and highly credible developer having attracted huge PE investments. World majors Walton street, Starwood capital, TPG Capital, TATA Opportunities Fund, HYPO, Sun Apollo, ASK, Motilal Oswal, Amplus, ICICI Prudential have invested in Shriram Properties – aggregating to US $ 435 million.

Shriram Properties has won the prestigious Assocham Award (Associated chamber of commerce and Industry) in three consecutive years from 2013 to 2015, for being the Best Developer in Southern region. The company has also won awards for being the Best Realty Investment Partner in India and the Most Transparent Developer in Southern region.

PVR – Superior Q4 after hiatus

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PVR

PVR’s Q4FY16 revenue and PAT came in line. Key positives were: (i) advertising increased by 19% YoY versus Inox Leisure which saw 2% YoY dip; (ii) net box office collection surged 36% YoY, driven by 9% YoY LTL ATP growth and 18% YoY LTL footfalls growth aided by blockbusters like Airlift and Neerja; (iii) F&B revenues soared 50% YoY led by 17% LTL SPH growth. EBITDA margins expanded 767bps YoY on favourable base. Going ahead, PVR will have a strong base of H1FY16. However, we expect the company to clock decent performance drawing from strong content pipeline and screen expansion in FY17. Maintain ‘BUY’.

Screen expansion continues; employee cost slightly higher
In Q4FY16, PVR added 25 screens (52 screens in FY16). The company will add another 65 screens in FY17 (17 in Q1FY17, 14 in Q2FY17), which will drive footfalls in FY17. Employee cost increased by 39.7% YoY due to addition of new screens and New Bonus Act. PVR will continue to add 50% of its new screens in tier I cities where ATP is above INR200. Upcoming movies such as Udta Punjab, Independence Day and Sultan are expected to do well for PVR.

Q4FY16 conference call: key takeaways
PVR expects 3-5% YoY ATP growth in FY17. The company has 283, 181 and 60 screens in tier I, II and III cities, respectively. E-commerce accounts for 10% of the ad revenue. PVR’s ad rates are ~30-40% higher than competitors. Going ahead, entertainment tax will be marginally higher as Delhi’s higher entertainment tax was not present in the base for 3-4 months. The company expects SPH to increase 8-10% YoY in FY17. It is launching popcorn, juices and merchandising for kids to drive growth. PVR expects DT Cinema’s consolidation from Q2FY17.

Outlook and valuations: Positive; maintain ‘BUY’
We remain enthused by PVR’s dominance and expansion in exhibition business and we envisage the company to continue to benefit from strong content pipeline in FY17 as well. We estimate PVR to log 19.8% EPS CAGR over FY16-18. At CMP, the stock is trading at 27.7x and 22.1x FY17E and FY18E EPS, respectively. We maintain ‘BUY/Sector Outperformer’ with a target price of INR956 (25x FY18E EPS).

Bajaj Electricals – Strategy shift dents sales, but better prospects ahead

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bajajElectricals

Bajaj Electricals’ (BJE) Q4FY16 revenue at INR13.5bn (up 3.5% YoY) came 4% below estimate due to lower-than-expected revenue in E&P and consumer durables (CD) segments (nil growth YoY). Moreover, higher employee expense provisioning of INR70mn impacted margin. While EBIT margin of lighting segment at 7.2% (up 10bps QoQ) improved, that of E&P and CD segments fell 180bps and 150bps QoQ, respectively, pushing blended EBIT margin down to 5% (down 120bps QoQ). BJE’s INR347mn PAT was lower than our INR422mn estimate. Maintain ‘HOLD’ with target price of INR275 based on SOTP multiples—lighting 5x, CD 18x and E&P 7x on FY18E earnings.

Lower revenue growth, higher costs impact profitability
During Q4FY16, revenues of CD and E&P segments remained flat. However, lighting segment’s revenue jumped 20% YoY. Provisioning for employee wage increase for FY17 has been accounted for during this quarter (INR70mn) squeezed EBITDA margin to 5.5% versus 5.9% in Q4FY15. CD business EBIT margin of 3.4% fell ~350bps YoY owing to higher fixed costs. However, E&P and Lighting EBIT margins of 6.6% and 7.2% were higher than the margins of 4.7% and 4.3% in Q4FY15, respectively. Tax outflow of INR186mn was much higher than INR58mn in Q4FY15 due to regulatory requirements. Overall PAT came in at INR347mn, versus a profit of INR469mn in Q4FY15, on tepid operating performance.

Outlook and valuations: Improving; maintain ‘HOLD’
Execution of better margin orders in the E&P segment bolsters confidence in the project business. We anticipate LED business to continue to drive the lighting business. Competitive intensity in CD segment and its focus on secondary sales are likely to keep CD segment profitability under pressure in near term and this change in BJE’s strategy in the CD segment is likely to reap benefits from H2FY17. Return of growth along with pace in its CD business will determine the company’s overall performance over the near to medium term. The stock currently trades at 13.3x and 10.5x FY17E and FY18E earnings, respectively. Factoring in improvised margins, we revise up FY17E and FY18E earnings 19% and 31%, respectively. We maintain ‘HOLD/Sector Performer’ with a revised target price of INR275 (INR205 earlier) based on SOTP multiples—lighting 5x, CD 18x and E&P 7x on FY18E earnings.

You will pay fine, court tells Sri Sri’s Art of Living in strong order

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sri-sri-ravishankar

New Delhi: For its massive festival held on the banks of the River Yamuna in Delhi, the Art of Living, led by spiritual guru Sri Sri Ravi Shankar, must pay nearly five crores as a fine, the country’s top environment court said today, offering strong criticism of the organization.

The Art of Living had been allowed to go ahead with the three-day “World Culture Festival” on the banks of the River Yamuna on the condition that it would pay a five-crore penalty for damage to the area’s delicate ecosystem. Hundreds of thousands of devotees attended the event which included what was billed as the world’s largest stage, spreading over seven acres.

The organizers paid Rs. 25 lakhs at the time, and said the rest would be given later. They then asked that the 4.75 crores that they owed be treated as a bank guarantee and that it should apply towards creating a biodiversity park in the area. The Art of Living “used the order of the court to hold the event and then went back on its commitment,” the National Green Tribunal said today, adding that the organizes have tried multiple legal cases “in order not to pay the fine” as a result of which the “conduct of the foundation has been called into question.”

Environmentalists had accused organizers of ripping up vegetation and ruining the river’s fragile ecosystem by damaging its bed and disrupting water flows. Sri Sri, 60, had said he should be given an award for organizing the event. His organization said today that “we left the site in better condition than we found it” and that it is likely to take its case to the Supreme Court.

The opening of the event was attended by Prime Minister Narendra Modi, though President Pranab Mukherjee dropped out after the controversy over environmental clearances erupted.

(Agencies)

Hindu, Muslim leaders meet for settlement of Ayodhya dispute

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babri

Ayodhya: Hindu and Muslim leaders have met for a negotiated settlement of the Babri Masjid-Ram Janmabhoomi dispute with both sides saying a peaceful way to resolve the issue must be found.

Mahant Narendra Giri, the newly elected President of All India Akhara Parishad, met Hashim Ansari, the oldest surviving litigant in the Babri Masjid case.

Giri, along with other mahants and sadhus, had a half-an- hour-long meeting with Ansari.

“We are trying our best to reach a negotiated settlement in this dispute. The settlement must be peaceful and should be acceptable to both the communities. At the same time, we also want that the Supreme Court should conduct day-to-day hearing in this case,” Giri later said.

Ansari said, “We are always ready for talks and we must find a peaceful way to solve this dispute so that both the communities feel happy.”

(Agencies)

Sonia backs Robert Vadra on ‘owning’ benami property in London

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Sonia Gandhi

Rae Bareli/New Delhi: Congress President Sonia Gandhi on Tuesday backed her son-in-law Robert Vadra over the allegation that he owns a ‘benami’ property in London, saying the charge is a political conspiracy.

She also dared the government to investigate the allegation ‘unbiasedly’.

Senior BJP leader Kirit Somaiya on Monday sought detailed inquiry by the Enforcement Directorate (ED) into alleged involvement of Robert Vadra in the 2009 purchase of a ‘benami’ or proxy-owned mansion in London.

Reacting to the allegations, Sonia Gandhi said: “This is also a political conspiracy. What do you mean by Congress-mukt Bharat? Everyday they give excuses and level wrong allegations.”

“If this is true, then they should conduct an unbiased probe. Everything will become clear,” said an angry Sonia Gandhi, who was on a two-day visit to Rae Bareli in Uttar Pradesh.

On the completion of two years of National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi, Gandhi said: “I have never seen anything like this, Modi ji is the PM, and not a Shehenshah (King).”

“Our nation is facing drought, poverty, farmers are in pain. At these times, such a “show” is not appropriate,” said Gandhi, criticising Modi for organising a gala event on completion of NDA government’s two years.

(Agencies)

Major fire at arms depot; 17 killed

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fire

Nagpur: At least 17 security personnel, including two young Army officers, were today killed in a major fire that broke out at the central ammunition depot in Pulgoan early this morning.

Two officers and 17 Defence Security Corp (DSC) jawans were injured in the blaze, some of them critically, an Army officer said.

“The main fire at one of the sheds has been extinguished. The situation is being stabilised. Secondary fire and explosions cannot be ruled out now,” the Army officer said.

The central ammunition depot at Pulgaon is one India’s biggest ammunition depot. Pulgaon is 110 kms from Nagpur.

PM Narendra Modi expressed grief over the incident saying he was pained by loss of lives caused by fire at central ammunition depot.

He has asked Defence Minister Manohar Parrikar to visit the spot to take stock of situation.

(PTI)

Iraqi army launches assault against ISIL in Fallujah

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Special forces enter “third phase” in fight to recapture the central city from ISIL, as 50,000 people remain trapped.

iraq

by Al Jazeera

Iraqi special forces launched an assault on one of the Islamic State of Iraq and the Levant (ISIL) group’s most emblematic bastions, Fallujah, as the group counter-attacked in both Iraq and neighbouring Syria.

The assault was launched in the early hours of Monday morning. Troops entered the city from three directions.

“Iraqi forces entered Fallujah under air cover from the international coalition, the Iraqi air force and army aviation, and supported by artillery and tanks,” said Lieutenant-General Abdelwahab al-Saadi, the commander of the operation.

“CTS forces, the Anbar police and the Iraqi army, at around 4am (01:00 GMT), started moving into Fallujah from three directions,” he said.

“There is resistance from Daesh,” he added, using an Arabic acronym for ISIL.

Al Jazeera’s Omar Al Saleh, reporting from Erbil, cited military sources saying that at least 10 Iraqi security forces and members of allied Shia militias were killed in the early hours of the offensive, while 25 more were injured.

Also on Monday in Ramadi, which is less than 100km from Fallujah, Iraqi police said that at least 15 special force soldiers were killed in an ISIL attack.

Meanwhile, at least nine people were killed and 26 were wounded in bombings north and northeast of the capital, Baghdad.

Fighting on Monday followed battles a day earlier, adding to the exodus of thousands of desperate civilians from the surrounding areas and deep concern for the many more trapped in the battlegrounds.

The week-old operation to capture Fallujah has so far focused on retaking villages and rural areas close to the central city, which lies just 50km west of Baghdad.

CTS’s involvement will mark the start of a phase of urban combat in a city where US forces in 2004 fought some of their toughest battles since the Vietnam War.

Only a few hundred families managed to slip out of the Fallujah area, with an estimated 50,000 people still trapped inside the city proper.

According to the Norwegian Refugee Council (NRC), around 3,000 people have managed to escape the Fallujah area since May 21.

The biggest wave so far arrived to camps for displaced people on Saturday night, NRC said, but a larger influx could be triggered when the urban battle between CTS and ISIL begins in earnest.

“Our resources in the camps are now very strained, and with many more expected to flee we might not be able to provide enough drinking water for everyone,” said Nasr Muflahi, NRC’s Iraq director.

“We expect bigger waves of displacement the fiercer the fighting gets.”

$48 for a kilo of rice

The Fallujah operation has come at a human cost, rights groups said, amid battles between ISIL (also known as ISIS) fighters and the advancing Iraqi army and allied Shia militia.

One Fallujah resident told Al Jazeera by phone that there is lack of medicine and fuel in the city.

“There is some food. We have vegetables, enough to survive. But there is no rice and sugar, the price for a kilo of rice here reached $48,” the resident said. “ISIL is on alert on the outskirts of the city. Its fighters have set up checkpoints and prepared ambushes, which prevent people form leaving.”

Natco Pharma – Set to take off

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Natco Pharma

Natco Pharma’s (NATP) Q4FY16 earnings hit a homerun with revenue, EBITDA and PAT catapulting 103%, 87% and 159%, respectively. The good show was primarily spearheaded by Hepatitis C portfolio where NATP enjoys first-mover advantage. Onco portfolio in domestic market jumped 30% YoY and it won a tender in Venezuela. The company guided for ~30% base business growth in FY17 without factoring any of the imminent upside from US opportunities like Tamiflu, Entocort, Copaxone, Nuvigil, Tracleer and Fosrenol. We believe FY17 and FY18 will be significant years for NATP as the US engine starts roaring. Maintain ‘BUY’ with target price of INR640. NATP is our top pick in the mid-cap pack.

Hep C franchise keeps beefing domestic business

Current quarter benefitted from Venezuelan tender win; however, revenue adjusted for this grew 61% YoY. India sales jumped 155% YoY and 31% QoQ driven by Hep C franchise (INR1.5bn versus INR1.1bn QoQ) as well as Oncology (up 30% YoY). Export sales surged to INR1.05bn versus INR360mn QoQ driven by tender sales in Venezuela and higher supply of Lansoprazole. Other expenses were higher due to royalties and profit share owing to Hep C franchise. EBITDA margin at 23.9% rose ~60bps QoQ. EBITDA catapulted 87% YoY and 51% QoQ. FY17 guidance of INR13.5bn sales factors the sale of SaveMart Pharmacy, continued momentum in Hep C franchise in India and current order book for export markets. It does not factor any upside whatsoever from US launches.

Exciting US launches ahead

Apart from Doxil, NATP filed 3 P-IV ANDAs in FY16, which includes Gleevec, Tarceva and 1 injectable. Over the next 12-18 months, a series of US launches are expected viz., Tamiflu, Entocort, Copaxone 20mg, Nuvigil, Tracleer and Fosrenol. A number of other interesting products like Doxil and Vidaza could also receive approval. The company is expected to file ~6-7 ANDAs in FY17, half of which will be Onco products. By FY18, Hep C franchise will also start unlocking in RoW markets, albeit the quantum will be much smaller than India where it has made the most of its headstart.

Outlook and valuations: No dearth of catalysts; maintain ‘BUY’

NATP’s filings will continue to be differentiated and keep valuations buoyant. We maintain our estimates and ‘BUY/SO’ with target price of INR640 (20x FY18E EPS).

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