Hindustan Power comments on RBI Monetary Policy
Nidhi Narang CFO Hindustan Power
India 4 October 2016: “Considering
there is a high degree of stressed assets in the country, the cut by
25bps will act as a fillip and can prompt the banks / lenders to make
funds available to the industry especially infra and power at a lower
rate. This can lead to kick starting the investment cycle in these core
sectors.”
About Hindustan Powerprojects
Hindustan
Power with a vision of commissioning 7000 MW of power by 2020 in
thermal, solar and hydro is a leading player in the energy sector in
India. The Company is in advanced stage of commissioning its combined
power assets at an estimated investment of INR 36,000 crores* ( USD 6
bn). In addition to the above, the company is also developing over 6100
MW of capacity using conventional and non-conventional energy sources in
India, Europe and the USA. India is the fourth largest consumer of
energy in the world after USA, China and Russia but it is not replete
with abundant energy resources. It must, therefore, meet its development
needs by using all available resources. This understanding has helped
the Company to focus on renewable energy in short-mid-term, and
conventional energy for mid-long term. Secured supply chains,
diversified customer base and focus on right technology for the
geography is ensuring a risk mitigated growth. Hindustan Power has
consistently been focusing on giving maximum returns to its stakeholders
through corporate growth and social responsibility. The thermal arm of
the company is in advanced stages of commissioning the first phase of
its flagship 2520 MW thermal power project at Anuppur while the solar
arm with a commissioned capacity of ~ 500 MW is the largest revenue
earning Indian company in the sector. The company has two hydro projects
in the State of Himachal Pradesh with a capacity of 520 MW.
The
company is head quartered in New Delhi and has power generation assets
in the states of Chhattisgarh, Gujarat, Tamil Nadu, Odisha, West Bengal,
Madhya Pradesh, Punjab, Uttar Pradesh and Himachal Pradesh in India and
in countries like Germany, Italy, US, UK and Japan.
Quote on monetary policy -Mr. Gaurav Mittal, MD, CHD Developers Limited
Commenting
on the monetary policy Mr. Gaurav Mittal, MD, CHD Developers Limited
said, “Decline in consumer price index inflation to 5.05% in August from
a 22 month high of over 6% in July had opened up the possibility to cut
the repo rates. We welcome the rate cut of 25 basis points as announced
today. Further the banks should pass on the benefits of this rate cut
by lowering the mortgage rates thereby making home loans more affordable
for the buyers. Lowering of the lending rates would be pivotal in
generating demand and stimulating the economic growth.”
Quote of Mr. Ashish Sarin, CEO, Alphacorp Development Private Limited on the monetary policy announced today
Commenting
on the monetary policy, Mr. Ashish Sarin, CEO, Alphacorp said, ”August
Consumer Price Index Inflation at 5.05% (lowest in six months) had
opened up the possibility for the RBI to reduce key repo rate by 25
basis points. On the backdrop of good monsoon and bumper harvest the
prices of vegetables and pulses are further expected to decelerate
therefore there is ample room for monetary easing even in the future.
Subsequent to the rate cut borrowing costs for the banks would reduce
and therefore they should pass through the benefits to the home loan
buyers by reducing the base rates. This would be instrumental in
reviving the sentiment of the real estate sector along with propelling
the economic growth. RBI has provided enough liquidity and it only makes
sense to extend the accommodative stance to spur economic growth.”
About ALPHA CORP:
Alpha
Corp has built an unmatched legacy since inception in 2003 with
landmark projects across five cities in north India. Its value-driven
and customer-centric approach is matched by transparent systems and
processes that stand up to highest standards of accountability. Trust
and integrity form the core of company’s ideology.
Leveraging
its experience in product design, development capabilities and capital
management strategies, Alpha Corp has developed a diversified business
portfolio of integrated townships, condominiums, corporate offices,
retail city centres and industrial parks across NCR, Punjab, Uttar
Pradesh and Gujarat.
Subsidiary
company Alpha Management Services was established in 2006 to ensure
maintenance of properties of key customers spread across various
verticals covering premium residential complexes, corporate office
buildings, shopping malls, super-speciality hospitals and integrated
townships. These services not only help to constantly enhance the
valuation and life of a property but also ensure day-to-day optimum cost
efficiencies.
SARE Homes Reaction on RBI Monetary Policy- October, 2016
Mr. Vineet Relia, Managing Director, SARE Homes
“This
is welcome step by the Government. This will infuse confidence in the
system thereby providing a boost to not only the real estate sector, but
the overall economy ahead of the festive season. It is imperative for
banks to reduce interest rates and the combination of lower interest
rates alongside the progressive measures taken by the government towards
reforms has the potential to reinvigorate demand in all segments of the
economy. The revision in the REPO rate will positively impact the
sentiments surrounding the real estate market. Cheaper loans for home
buyers will prompt a renewed interest in residential property purchase
from end users and investors.”