PNB, INDIAN HOTELS LEVERAGE GOOD RATES IN BIG PROPERTY BUYS
Article Abstract:
Punjab National Bank (PNB), Indian Hotels Company (IHC) and IBP Co Ltd have benefited from the depressed market conditions and struck favourable deals in property purchases. PNB has acquired about 10,500 sq feet of office space in Dalamal House in Mumbai from Allana Investments and Trading Company for about Rs13 crore. IHC has bought three 2,500 sq feet luxury apartments in the Sterling Building on Pedder Road in Mumbai for about Rs9.5 crore from United Motors. IBP Co Ltd of Calcutta has bought about 4500 sq feet of office space in Sarjan Plaza at Worli for about Rs6.35 crore from Satellite Developers. Office space in Mumbai has been witnessing declining prices as vacant premises have been increasing. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDIAN BANK POSTS Rs302-CR NET LOSS
Article Abstract:
Indian Bank has reported a net loss of Rs301.50 crore during 1997- 98 (Rs389.09 crore during 1996-97). During this period, its total income was around Rs1,666.27 crore (Rs1,780.26 crore) while the operating expenses were around Rs522.91 crore (Rs476.59 crore). It reported a non performing asset (NPA) level of around 26.01 percent (25.91 percent). The net NPA was around Rs1,889 crore while the deposit base was around Rs2,086 crore. Its advances were at Rs2,000 crore. (ag)
Comment:
Reports a net loss of Rs301.50 crore during 1997-98 vs net loss of Rs389.09 crore during 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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