Wave Infratech, realty arm of Ponty Chadhas Wave Group, on Tuesday said that it will invest R4,000 crore to develop the first phase of the 152-acre township in Noida. The integrated mixed-use project would be developed on the land the company had won last year through an auction for about R6,500 crore after outbidding Amrapali and The 3C Company. The company will fund this investment from internal accruals, advances from customers, debt and private equity. The first phase of the project would be delivered by 2016.
Tata Housing launches retail brand GoodLife
Tata Housing Development Company, the real estate arm of Tata Group, has launched GoodLife, its first retail brand in its 65-acre integrated township project in Boisar near Thane. GoodLife will take shape into a hypermarket, which will cater to daily requirements of the township by offering a range of products, such as apparel, accessories and services like a bank branch, ATMs, salon, restaurants, a caf and entertainment.
Portuguese firm Exago ties up with Albion Infotel
IT services firm Albion Infotel on Tuesday said it has partnered with Portuguese company Exago Markets to introduce the latters solutions in the Indian market. Exagos model combines concepts like predictive markets through software technology and value-added services, delivering the highest performance in corporate innovation initiatives, Albion said in a statement. Exagos solutions cover the entire process from ideation to implementation, it added. Innovation is no longer merely a buzzword and is now widely recognised as an integral part of business practices.
Asia Motorworks acquires FamilyCredit
Mumbai-based commercial vehicles maker Asia Motorworks on Tuesday said it has fully acquired FamilyCredit from Frances Socit Gnrale Consumer Finance for an undisclosed sum in an all-cash deal. The acquisition of FamilyCredit provides us a pan India asset finance franchise, Asia Motor Works MD Anirudh Bhuwalka said. Kolkata-headquartered FamilyCredit is a NBFC. It was a wholly-owned subsidiary of Socit Gnrale Consumer Finance, a division of the Specialised Financial Services of Socit Gnrale Group, France. Ambit Corporate Finance was the investment banker for the transaction.
Hyundai Motors clarifies on hiring scam
Hyundai Motors India on Monday clarified that all its recruitments are done directly and the company does not accept or seek any sort of deposit from potential candidates for any position in the company. In recent times, fraudsters have through emails, promised jobs at Hyundai Motor India against caution money deposits. HMIL has requested affected candidates to file a complaint with the local police station the moment any caution money is sought from them either for an interview or for the final placement, an official statement said.
Bharti Airtel reduces carbon footprint in Africa
As part of its plan to reduce carbon footprint in Africa, Bharti Airtel on Tuesday announced that it had reduced the number of telecom sites running solely on diesel by more than 50%. The company is increasingly opting for hybrid battery bank, which collect the excess energy produced by diesel powered generator in a battery that powers the site once the generator is switched off. Airtel plans to completely eradicate the constant use of diesel to power its network by 2013. Close to 60% of Airtels telecom sites in Africa are now powered using the hybrid model, the company said and added it was working on the use of solar and wind power for its telecom sites.