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Article: M-cap of real estate firms hit the roof.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- January 13, 2007
CopyrightCOPYRIGHT 2007 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 13--NEW DELHI -- Have doubts about the Indian real estate growth story? Just check out these stats: In the last two years, the market cap of nine large listed real estate companies has grown more than 50 times, though on a low base.
In 2004, the total m-cap of these companies was Rs 1,210 crore which went up to a whopping Rs 60,660 crore by November 2006.
According to a report by Edelweiss, Anant Raj Industries recorded the biggest growth-more than 168 times-from Rs 40 crore to Rs 6,716 crore in three years. It is closely followed by one of the largest real estate companies, Unitech, whose m-cap has grown by 122 times from Rs 324 crore to Rs 39,400 ...