Motilal Oswal top official Ashish Gumashta buys luxury apartment in Mumbai’s Bandra west

The transaction for the house spread across 15th and 16 floors of the under-construction tower values it at over Rs 1.32 lakh per sq ft, making it one of the most expensive deals for a residential property anywhere in the country.

Both the shopping slump in rural India and the spike in the wealthy category are driven by the post-pandemic effects. While customers at the lower end, whose incomes took a beating during the pandemic, are still not spending too much and want to save more, the rich, who could not spend during the pandemic, are now indulging in revenge shopping.

The company's sales in India climbed 13.4%, driven by robust demand for its branded prescription and consumer health products

The buyer Rajendra Barwale, director of Mahyco, along with his wife and son, has bought the apartment spread over a total of nearly 9,546 sq ft on the 2nd floor of the super-luxury residential tower Lodha Malabar on Walkeshwar Road.

India Business News: NEW DELHI: Chairman and managing director of JSW Group Sajjan Jindal on Thursday won the EY Entrepreneur of the Year Award 2022.

The report says all five properties are part of an under-construction commercial project called Signature by Veer Savarkar Projects, in Andheri West

The I-T depatment had contended that Netflix Entertainment Services (India) LLP acted as a dependent agent permanent establishment (DAPE) of Netflix. Total revenue generated by the companys operations between April 2020 and December 2020 was above Rs 1,145 crore. Of this, Rs 1,008 crore was profit, of which attribution to Indian operations was calculated at Rs 503 crore.

The countrys largest and most expensive realty market saw registration of over 10,602 properties during the month, up 23% from a year ago, while revenue collection through stamp duty charges rose 53% on-year to contribute over Rs 1,124 crore to the states exchequer, showed data from Maharashtras inspector general of registration.

The seasonally adjusted HSBC India Services Business Activity Index rose to 61.2 in March from 60.6 in February. The performance was largely attributed to healthy demand conditions, efficiency gains and robust sales. The HSBC India Composite PMI Output Index rose to 61.8 in March from 60.6 in February, the second-strongest growth in over 13-and-a-half years. A reading above 50 indicates expansion.

This is likely to reverse in FY24 since India has the best growth potential in FY24. Even though Indian valuations are relatively expensive, they have turned reasonable now and in tune with the long-term premium enjoyed by India, said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.