Motilal Oswal Real Estate: Motilal Oswal Real Estate raises Rs 650 crore for fifth property fund indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Budget 2021 is expected to lay key emphasis on the real estate sector.
Home buyers and developers are looking for a higher tax relief to spur demand. The cap of Rs 2 lakh on housing loan interest under income tax deductions should be extended up to Rs 5 lakh.
Experts feel the government should relax the fundraising norms and ensure the implementation of alternate investment funds to ensure enough liquidity for the sector. More importantly, the government should incentivise the private sector to invest in affordable housing.
Niranjan Hiranandani, national president, NAREDCO, said: “To promote rental housing the deduction of 30 per cent from the annual rental income (for purpose of maintenance) should be increased to 50 per cent.”
Read more about Motilal Oswal s real estate arm to raise Rs 800 crore via fifth fund on Business Standard. The fund has been set up as an alternate investment fund, firm expects to achieve first close by March and conclude fundraising in the next 6-9 months
Wipro Q3 net rises 21% to ₹2,968 cr; expects Q4 revenue growth at 1.5%-3.5%
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Total revenue rose marginally to ₹15,670 crore in Q3FY21
Wipro CEO Thierry Delaporte says company saw second straight quarter of strong performance and that revenue growth is at upper end of their guidance
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IT software giant Wipro on Wednesday reported 21% rise in consolidated net profit at ₹2,968 crore for the quarter ending 31 December, 2020. It was ₹2,456 crore in the year-ago period.
Total revenue rose marginally to ₹15,670 crore in Q3FY21. Wipro expects revenue from its IT Services business to be in the range of $2,102-$2,143 million, which translates to a sequential growth of 1.5% to 3.5%.
Motilal Oswal Real Estate plans to raise up to Rs 800 crore via fifth Realty Excellence Fund
IREF V to focus on construction finance in post-approval projects; Fund plans to deploy the capital in mid-income/ affordable residential projects across the top 7 cities in India
Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Financial Services, is looking to raise up to Rs 800 crore through its recently-launched fifth real estate fund India Realty Excellence Fund V (IREF V).
While the earlier three funds (IREF II, IREF III and IREF IV) focused on early-stage investments, IREF V would focus on construction finance in post-approval projects.