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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    "Government banks should also fix and accept responsibility for being a criminal party to the looting of public money through bribery and wilful overvaluation of assets ; rather than blaming the promoters of failed companies only.""
    NPAS are result of poor loans for ventures which should never have been cleared.Failures take place through genuine problems also.But the banks have monitoring mechanism which warns them of declining cash flow loan repayments etc and then they take actions to avoid NPA situation.
    Obviously there is no accountability for big businesses and big loans.
    Political pressures,corrupt bank officials play big role in burdening our bank system with such mounting debts.
    If you approach a bank for housing laon,see the amount of paper work and running around before you lay your hands on even a paisa of loan.But moneyed or connected people have it easy.Scrutiny of proposal is on paper strict,but they have their way and loan money passes hands.
    No wonder banks want secrecy of defaulters list etc.PMC may send brass band to recover property dues,but banks want to hide big defaulters in the name of banking secrecy.
    It is wethe people and our system which has let us down.

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Real estate is a business of high profits and so even if the bank made high loss through NPA ; the promoters of NPA already made high additions to their bank accounts.

      In result public money passed to the promotors of the NPA.Quite likely the promoters of NPA are also gonna be representing some political interest only.

      This is also some kind of bank robbery only ; using NPA as the means and politician as facilitator.

      Comment


      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by RP Pune View Post
        What is 100%

        2 to 4, 4 to 8

        or

        8 to 16, 16 to 32 lpa?

        Absolute numbers are very important.

        The main differentiating factor is that the average salaries haven't grown as much as the inflation and other living costs, but people confuse this with yearly remuneration growth.
        Well, let us say ...

        6L to 12L in 97.

        12L to 25L + stock options in 99

        there were 1 more in the mid 2000s resulting in 60L + $ 200k annual bonus + stock options

        satisfied?

        Not that it makes any difference to me for this publicity. I run my own show now and paying salaries is the headache rather than receiving salary!

        cheers

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by wiseman View Post
          Well, let us say ...

          6L to 12L in 97.

          12L to 25L + stock options in 99

          there were 1 more in the mid 2000s resulting in 60L + $ 200k annual bonus + stock options

          satisfied?

          Not that it makes any difference to me for this publicity. I run my own show now and paying salaries is the headache rather than receiving salary!

          cheers
          The IITians (or equivalent) and/or really brilliant ones with the right set of skills do get deserving rewards.

          The other companies in service delivery space do not give such hikes. Even MNCs like IBM, Accenture, CG, Atos etc do not give such raises these days.

          So in general, (in general, i repeat), the image of below 40 aged ITGs getting 30 to 40L and 100% hikes is a wrong picture. I would see a lot more of Cruze, Accords and Camrys on the roads if folks were getting 40L per annum. You wont often see people coming to work in cars equal or above Toyota Corolla. In fact, I have seen gaon scorpio chap types have BMW or Audi SUVs

          Here in hinjewadi, they think ITGs have pockets overflowing with cash. The shops and tapris charge extra for everything, be it a bottle of beer or a pack of biscuits. Even chai and sutta are one or two Rs higher.

          Coming back to topic, why would builders be far behind when even tapris are fleecing ITGs in Hinjewadi.
          Last edited by Sat234; March 24 2014, 08:33 PM.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Girls have started refusing IT grooms.
            Perceptions have changed or reality is dawning on everyone.
            The glamour of IT is dying along with the down trend in salaries


            Originally posted by Sat234 View Post
            The IITians (or equivalent) and/or really brilliant ones with the right set of skills do get deserving rewards.

            The other companies in service delivery space do not give such hikes. Even MNCs like IBM, Accenture, CG, Atos etc do not give such raises these days.

            So in general, (in general, i repeat), the image of below 40 aged ITGs getting 30 to 40L and 100% hikes is a wrong picture. I would see a lot more of Cruze, Accords and Camrys on the roads if folks were getting 40L per annum. You wont often see people coming to work in cars equal or above Toyota Corolla. In fact, I have seen gaon scorpio chap types have BMW or Audi SUVs

            Here in hinjewadi, they think ITGs have pockets overflowing with cash. The shops and tapris charge extra for everything, be it a bottle of beer or a pack of biscuits. Even chai and sutta are one or two Rs higher.

            Coming back to topic, why would builders be far behind when even tapris are fleecing ITGs in Hinjewadi.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Thodisizamin,

              Agree with you on mall story. And shopping bags is small story, simply check out the parking areas on weekends in several malls.

              Vaibhav123,
              Another mall in Vimannagar, opp newly opened Novotel hotel is sparsely filled. Had been there to pick new headphone for but the model I wanted wasn't available there. Finally ordered on amazon.in

              Originally posted by omshanti69 View Post
              Government banks should also fix and accept responsibility for being a criminal party to the looting of public money through bribery and wilful overvaluation of assets ; rather than blaming the promoters of failed companies only.It appears that government banks have become the greatest institutions of misuse of public money, be it through investment in overvalued NPA's or in loss making equities.

              As a common citizen getting a loan from a government bank may never be easy but when it comes to NPA's or lossmaking equities with billions our government banks are always ahead of all.
              Don't you think this is exactly similar to what happened with US banks in 2007-08 ? Gave loans to those who couldn't repay & banks went bankrupt & investors money down the drain.
              One can imagine what would happen when the total NPAs (which run in lacs of crores) get off-loaded in coming quarters.
              If you are happy, you are successful.

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Originally posted by rambler View Post
                Girls have started refusing IT grooms.
                Perceptions have changed or reality is dawning on everyone.
                The glamour of IT is dying along with the down trend in salaries
                I wasnt aware it was a trend.
                I know of even IT girls refusing IT grooms. .. someine in my own family too

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  RP Pune,

                  Pune doesn't have talent pool of its own. What you call talent is mostly migrated ones. They come to study, get job here & settle in Pune. Post education, if the non-native Puneties get better opportunities elsewhere, why would they settle in Pune ?

                  Eg. A guy from Aurangabad, studies in Pune can well prefer job in Nagpur if opportunity is more than Pune.
                  Btw, over 38% of engg seats are vacant in Pune colleges.

                  And man, now IT cos will compete in terms of salaries with not US but Vietnam & East Europe & to some extent China (We Chat msg app is Chinese, Line is Japs, Whatsapp in US, no Indian in list ). So, salaries will be under pressure for Indian IT cos.


                  See this IT news, from India's biggest IT co., TCS :-

                  TCS warns of weak Q4 earnings, stock dips to 3-month low

                  TCS warns of weak Q4 earnings, stock dips to 3-month low | The Indian Express

                  Originally posted by rambler View Post
                  Girls have started refusing IT grooms.
                  Perceptions have changed or reality is dawning on everyone.
                  The glamour of IT is dying along with the down trend in salaries
                  And just 3 years back, IT+IT was in demand.
                  Man, if things can change so much in just 3 years, wonder how people take loans for 20 years, many times based on double incomes ?
                  Last edited by realacres; March 24 2014, 10:42 PM.
                  If you are happy, you are successful.

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Whatsapp . Wechat. Line.
                    I guess there is an indian one. From airtel. Doesn't have much traction though.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Worst of NPA trouble for banks still ahead: Credit Suisse

                      In its latest report, Credit Suisse says, the financial health of India Inc continues to deteriorate with companies having interest cover (IC) <1 at 37 percent in Q3, compared to 34 percent in Q2.


                      The worst of the NPA trouble for banks is still ahead of us. That’s the word coming in from broking and research firm Credit Suisse. In its latest report, Credit Suisse says, the financial health of India Inc continues to deteriorate with companies having interest cover (IC) less than 1 at 37 percent in Q3, compared to 34 percent in Q2. Moreover, it says that 82 percent of the debt was with companies that had IC less than 1 for at least four quarters in the past two years and 29 percent of them in the last eight consecutive quarters.

                      “We are negative on corporate lenders such as SBI , PNB , BOI , Union , ICICI and Yes ,” the report said.

                      Worst of NPA trouble for banks still ahead: Credit Suisse - Moneycontrol.com
                      If you are happy, you are successful.

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