Realty major Omaxe has secured the Uttar Pradesh government's nod to build a Rs.250-crore integrated township spread over 75 acres in the holy city of Vrindavan, some 150 km from here.
Called Omaxe Eternity, the project includes a temple, yoga and meditation centre, parks, fountains, shopping complex, restaurants, gated apartments, kids' play area, gym and swimming pool, the company said.
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Sterlite hikes offer for US Asarco
Mumbai: Sterlite Industries, a leading metals major and part of Anil Agarwal's Vedanta Group, has hiked by $500 million its offer to purchase the assets of Asarco, the Texas-based bankrupt miner, smelter and copper refiner.
The company has now proposed to pay $2.1 billion in cash apart from supporting a recast plan to pay creditors in full.
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Mercedes launches special India model
New Delhi: German carmaker Mercedes-Benz Thursday launched its special edition C-Class model in India and announced an investment of Rs.150 crore in the country to expand its reach and network.
The new car, in petrol and diesel versions, is priced at between Rs.2.85 million and Rs.3.13 million, said Wilfried Aulbur, the company's managing director and chief executive. Only 60 units will be sold to maintain exclusivity.
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Mphasis net up 127 percent
Mumbai: Outsourcing major Mphasis Thursday said the group's net profit for the third quarter ended July 30 grew 127.7 percent to Rs.229.2 crore from Rs.100.7 crore in the like period of the previous year.
The company, which follows the November-October accounting year, saw its revenues during the third quarter growing 42.5 percent to Rs.1,105.6 crore from Rs.776 crore in the previous corresponding period.
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Oberoi net drops
New Delhi: East India Hotels, the flagship company of hospitality major Oberoi group, Thursday reported a 21.53 percent drop in profit after tax to Rs.170.44 crore in 2008-09 from Rs.217.23 crore in the previous fiscal. The company has declared a dividend of Rs.1.20 per share.
"The global financial crisis and the terror attacks on India’s financial capital Mumbai last November have resulted in a sharp drop in foreign visitors to India," said group chairman P.R.S. Oberoi. The group's Trident hotel in Mumbai was among the targets of November terror attacks.
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Larsen and Toubro plans bank
Chennai: The financial services arm of construction and engineering major Larsen and Toubro has plans to set up a commercial bank as part of its efforts to have a presence in the entire gamut of financial services in the country.
L&T Finance, which already holds 4.69 percent in City Union Bank, said here Thursday that there were related advantages of starting a bank especially to provide services to corporate partners.
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Jet to enhance low-cost operations
New Delhi: Private carrier Jet Airways Thursday said it would enhance its low-cost operations, Jet Airways Konnect, and add 180 daily flights across the country by Oct 1.
"Effective September 3 onwards, Jet Airways Konnect will launch services on several key domestic routes previously operated by Jet Airways -- full service carrier of the airline -- and add 180 more daily flight by Oct 1," the airline said in a statement.