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.”