Word: indianness
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...Delhi's socialist government granted itself sole development rights for the city, forcing private firms out of the business. By then, Singh had married into the family. The son of landlords as well, he had studied aeronautical engineering in Britain before returning home as an officer in the Indian army. By the time he joined his father-in-law's business in 1960, real estate development work had dried up completely. Instead the company tied up with two U.S. firms to manufacture electric motors and automotive batteries. The joint ventures eventually foundered, but by 1980, Singh had hit upon...
...obviously a family-run operation, must execute its ambitious agenda amid growing scrutiny, a by-product of going public. Critics say DLF, like the Indian property market itself, isn't transparent enough. There are questions surrounding the true value of DLF's recent land acquisitions, in part because 35% of the land on its books is not owned but under "agreement to purchase," according to IPO documents. Sydney-based Macquarie Research criticized the fact that more than half of DLF's land is in New Delhi, Gurgaon or Mumbai--where, some analysts believe, growth will lag smaller cities...
...months to try to rein in inflation, which peaked in March at an annual rate of 7%. The Securities and Exchange Board, meanwhile, has tightened up regulations on foreigners investing in real estate firms ahead of public listings. All that has made it harder and more expensive for Indian builders to raise money...
...fiscal year ending March 31, 2007, DLF reported that its profit grew more than 1,000%, to $470 million, while sales tripled, to just under $1 billion. After a stupendous two-year run, DLF's stock is unlikely to move much further, says Mukesh Agarwal, a manager at Indian financial-services firm HDFC Securities. "The upside may be limited...
...Nation of Dreams Your cover story "India Charges Ahead" is a most compelling read [Aug. 13]. The rumble from the Indian economy is a sterling example to all the struggling nations in the world of what dreams can achieve, even when one has not yet overcome terrorism, mixed religions, a sad history of colonization, imperfect democracy, socialism, political missteps and years of wars. India's rebound in the global economy is multifaceted, but what inspires most is its ability to reach into a beleaguered past and a struggling present to continuously build a dream. Moses Ida-Michaels, Lagos...