Westside plans to expand beyond big cities through franchise route. “We believe there is a huge business potential in Tier II and III markets. Consumers in these cities are well informed about the latest trends and are willing to spend,” marketing head Neeti Chopra said. Westside will open stores in 37 cities including Allahabad, Patna, Dehradun, Madurai, Jammu, Aligarh, Cochin and Salem. The stores will be spread across 8,000-12,000 sq ft and would require an initial investment of Rs 1.5-2 crore.
Global Trade Finance (GTF) has reported a 155 per cent jump in its net profit at Rs 73.6 crore for the financial year ended March 31, 2008, against Rs 28.9 crore a year ago. The company’s turnover grew 79 per cent to Rs 11,124 crore in the reporting period from Rs 6,214 crore in the previous fiscal.
The turnover and other income of the industrial machinery division of Mukand Ltd for 2007-08 rose 6 per cent at Rs 2,222 crore against Rs 2,100 crore in the previous year. Profit before tax stood at Rs 90 crore compared with Rs 115 crore in the previous year. Export revenues increased 27 per cent to Rs 175 crore in the reporting period.
The London Stock Exchange (LSE) has signed an MoU with Pipal Research Corporation, for a joint initiative, PSQ Analytics, which will provide cost-effective equity research on companies traded on the exchange’s main market and alternative investment market.
HDFC Standard Life has clocked new business premium income of Rs 2,685 crore for the financial year ending March 31, 2008, registering a year-on-year growth rate of 63 per cent. Total premium income grew 70 per cent to Rs 4,859 crore from Rs 2,856 crore in 2006-07. Average premium increased to Rs. 33,000.
Triveni Infrastructure Development Company has filed a draft red herring prospectus with the Securities and Exchange Board of India to enter the capital market with an initial public offering of 80,00,000 equity shares of Rs 10 each for cash at a premium to be decided through 100 per cent book-building.
Ctrl S Data Centers Ltd has signed a memorandum of understanding (MoU) with IBM, which includes marketing of data centres to customers, channels and franchisees across India.
V-Guard Industries has posted a growth of 97.87 per cent in its net profit at Rs 37.42 crore during the financial year ended March 31, 2008 compared with Rs 18.23 crore previous fiscal.
