Investment Management Project PORTFOLIO REPORT OF DIFFERENT INDUSTRIES

SUBMITTED TO Prof. Rashmi Chaudhary SUBMITTED BY Shruti Pandey Shefali Jaiswal Somil Rastogi Shweta Vatyani Utkarsh Srivatava Tuhin Sharma

Consumer Durable Industry

SHEFALI JAISWAL JL12PGDM139 The consumer durable industry includes all those goods which are durable i.e. products whose life expectancy is at least 3 years. These products are hard goods that cannot be used up at once. It consists of durable goods and appliances for domestic use such as televisions, refrigerators, air conditioners, kitchen appliance and washing machines. Categories: The consumer durable market is divided into three categories White goods Air conditioner Washing machine Sewing machine Refrigerators Watches and clocks Brown goods Mixers Chimneys Microwave oven Cooking range Iron Consumer electronics TVs, PCs Mobile phones Digital camera Audio and video system Electronic accessories

The key revenue drivers in the industry 1) Rise in Disposable Income: The demand for consumer durables has been rising with the increase in disposable income coupled with more and more consumers falling under the double income families. Also, the growing Indian middle-class plays a major role in increasing the demand. 2) Easy-availability of consumer financing: In the case of more expensive consumer goods, such as refrigerators, washing machines, color televisions and personal computers, retailers are marketing their goods more aggressively by providing easy financing options to the consumers by partnering with banks. 3) Existing Potential in Rural Markets: The rural durables market has been growing by ~30% annually, mainly due to the growing affordability of products as well as the general buoyancy in the economy. 4) Increasing share of Organized Retail: Since the last couple of years there has been an increasing shift towards organized retail (brands) from the unorganized (unbranded) products. With rising income and purchasing power, and the younger generation preferring branded products, the share of organized shopping is increasing.

5) Entertainment and Media to boost growth: The television segment of the consumer durables industry is seeing high growth coming from high-end flat panel TV, LCD TVs and Plasma TVs.

The key concerns affecting the industry 1) Cheap imports from Asian Countries: The cheap import of consumer durable products from countries like China, Singapore etc is a major concern. 2) Increasing competition: Presence of a large number of players in each segment leads to high rivalry. Also, the unorganized market is yet very strong in the case of many consumer durable goods. The pie of the unorganized sector is relatively large in most of the segments, hence increasing the competition. 3) Fluctuating raw material prices: Rising input costs of raw materials viz. copper, steel, aluminum and plastic - the major raw materials require for this industry will severely put pressures on margins. 4) Unfavorable Duty Structure: Top players in the consumer durables industry have been demanding a more favorable import duty on durable components imported by them. 5) Continuously changing technology; a challenge: The consumer durables sector faces the challenge of a continuous change in technology and the inability to cope with it. High-end consumers prefer changing their goods along with the up-gradation of technology and manufacturers have to make sure they cater to this requirement. Major Player in the industry:- some of the major players in this market are Samsung India, Whirlpool India, LG India, Godrej India, Sony India, Hitachi India etc. Future prospects of the Industry:The Indian market is fast moving towards high-end products and the importance of media and entertainment is growing among the young market. The consumer durables industry needs to constantly focus on innovation and needs to come out with product variations across categories to meet the different expectations of a varied class of customers. The sector is characterized by strong growth trends in all domains from rise in affordability factor of Indian population, increased penetration and exponential growth of rural markets, policy support in terms of FDI, to large scale investment plans by corporate. The consumer durables sector is set for an upward graph with numerous opportunities for those involved in it. ANALYSIS OF THE COMPANYS DATA: The companies that were selected on the basis of P.A.T, Sales, Market Capitalization, P.E Ratio and P.B Ratio. On this basis following companies were selected:-

1) 2) 3) 4) 5)

Acrysil Ltd. Polar Industries Ltd. Hind Rectifiers Ltd. Lloyd Electric & Engineering Ltd. Bharat Electronics Ltd.

P.A.T:- The net amount earned by a business after all taxation related expenses have been deducted. The profit after tax is often a better assessment of what a business is really earning and hence can use in its operations than its total revenues. So on this basis we can say that after taking into consideration the P.A.T figures of the companies the above five companies showed a decent P.A.T figure. SALES: It is the revenue the company is earning by selling its products and services. On proper evaluation we can say that the above mentioned five companies are performing nicely P.B Ratio: - The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's current market price to its book value. Acrysil Ltd. Polar Industries Ltd. Hind Ltd. 1.11 Rectifiers Lloyd Electric Bharat & Engineering Ltd. Ltd. .16 1.86 Electronics

0.92

1.66 1.22 0.98 0.98

1.76 1.13 0.95 0.95

.16 .16 .16 .16

4.03 2.68 2.16 2.16

P.E Ratio:- The price-to-earnings ratio, or PE ratio, or P/E ratio, is an equity valuation multiple. It is defined as market price per share divided by annual earnings per share. In this case we can see that the companies selected were better in terms of the P.E ratio and hence were selected.

IT Software Industry
SAUMYA PANDEY JL12PGDM182 ABOUT THE INDUSTRY: The IT&ITeS industry in India has today become a growth engine for the economy, contributing substantially to increases in the GDP, urban employment and exports, to achieve the vision of a powerful and resilient India. Indian firms, across all other sectors, largely depend on the IT & ITeS service providers to make their business processes efficient and streamlined. Indian manufacturing sector has the highest IT spending followed by automotive, chemicals and consumer products industries. Nasscom expects the IT services sector in India to grow by 13-14 per cent in 2013-14 and to touch US$ 225 billion by 2020. THE SUBSECTORS ARE: The Information Technology Sector covers the following general areas: firstly, Technology Software & Services, including companies that primarily develop software in various fields such as the Internet, applications, systems, databases management and/or home entertainment, and companies that provide information technology consulting and services, as well as data processing and outsourced services; secondly Technology Hardware & Equipment, including manufacturers and distributors of communications equipment, computers & peripherals, electronic equipment and related instruments; and thirdly, Semiconductors & Semiconductor Equipment Manufacturers. MAJOR PLAYERS OF THE INDUSTRY: The leading companies in the information technology industry of India are Wipro Ltd, Aditya Technologies, NIIT Ltd, Asset Infotech Ltd, Patni Computer Systems (P) Ltd, Atari Informatics Ltd, Polaris Software Lab Ltd, Baan Info Systems India P Ltd, B-commerce Infosystems Pvt Ltd, HCL Infosystems Ltd, Cerulean Information Technology Pvt Ltd, Hexaware Technologies Ltd, Iflex Solutions Ltd, CMC Ltd, Igate Global Solutions Ltd, HCL Corporation Ltd, Infosys Technologies Ltd, Satyam Computer Services Ltd, Larsen & Toubro Ltd, Tata Consultancy Services, Tata Infotech Ltd and Mastek Ltd.

PROSPECTS OF FUTURE GROWTH IN THE INDUSTRY: The IT & ITes sector includes IT services, engineering design and R&D services, ITES (ITenabled services) or BPO and hardware. Today IT and ITeS sectors lead the economic growth in terms of employment, export promotion, revenue generation and standards of living. As per NASSCOM estimates, IT/ITeS sector (excluding hardware) revenues are estimated at USD 87.6 billion in FY 2011-12; and the industry is expected to grow by 19 per cent during FY 2012-13. The IT/ITeS sector has led to employment opportunities, both direct and indirect, of nearly 2.8 million and around 8.9 million respectively. This growth is expected to increase to more than 14 million (direct and indirect) by 2015 and to around 30 million by 2030. The market size of the industry is expected to rise to USD 225 billion by 2020 considering India's competitive position, growing demand for exports, Government policy support, and increasing global footprint. IT/ITeS industry has led India's economic growth and this sector's contribution to the national GDP has risen from 1.2 per cent in 1997-98 to an estimated 7.5 per cent in 2011-12.

FACTORS LEADING TO GROWTH

Low operating costs and tax advantage. Favourable government policies. Technically qualified personnel easily available in the country. Rapid adoption of IT technologies in major sectors as Telecom, Manufacturing and BFSI. Strong growth in export demand from new verticals and non-traditional sectors as public sector, media and utilities. Use of new and emerging technologies such as cloud computing. SEZ as growth drivers; as more of SEZs are now being set up in Tier II cities and about 43 new tier II/III cities are emerging as IT delivery locations. All these factors have given IT/ITES industry in India a strong competitive position with high market share.

KEY CONCERNS: Data storage and retrieval, The mobile generation, Marketing/public relations , multinational operation, Budgets, Obsolescence, Complexity, Productivity, Customer service. ANALYSIS OF THE COMPANYS DATA : (FOR PAST 3 YEARS 2010,2011,2012) I have selected the following companies: MINDTREE LTD. HCL TECHNOLOGIES LTD.

ORACLE FINANCIAL SOFTWARES LTD. TATA CONSULTANCIES LTD. INFOSYS LTD.

These companies are selected on the basis of PBV RATIO, PAT, SALES. PAT: it is net income/sales . tells investors the percentage of money a company actually earns per dollar of sales. In all these companies pat is increasing. All the companies are earning favourably year by year. Among these tata is performing good as compared to other companies. Mindtree: 2081,1213,2187 Hcl: 10565, 11982, 19503 Oracle: 6608, 9679, 10892 Tata: 56185, 75699, 109759 Infosys: 58030,64430, 84700 SALES: it is the revenue the company is earning by selling its products and services. All the companies are performing good and their sales are growing. Mindtree:12337,15090,19152 Hcl: 50787,67944,89072 Oracle: 22432, 23605,25898 Tcs: 230472, 292770,388604 Infosys:211400,253850,312540 PBV RATIO: it is book value/roe . if the pbv ratio of any company is less than the benchmark then it is undervalued and is performing well. Benchmark for 2010: 29.92, for 2011: 27.33 , for 2012: 21.24 Mindtree: 11.17,12.80,9.019 Hcl: 23.45, 28.36, 16.93 Oracle: 29.20,17.18,20.18 Tcs: 27.38, 30.72, 20.90 Infosys: 25.85,28.82,19.42

ABOUT THE COMPANY MINDTREE LTD: Mindtree is a global information technology solutions company with revenues of over USD 430 million. Their 12,000+ experts engineer meaningful technology solutions to help businesses and societies flourish. It operates in two units: Product engineering services and IT servicesMindtree was involved in the creation of Bluetooth technology and is an Associate Member of the Bluetooth Special Interest Group. Its Bluetooth protocol stack is licenced to NEC. The company is earning a good sales as it is increasing. Pat has declined in 2011 as compared to 2010 and then again it has risen. It is a undervalued and has higher return on equity. It has a higher return on equity as compared to other companies in the industry. TATA CONSULTANCY SERVICES: Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) services, business solutions and consulting company headquartered in Mumbai, Maharashtra. TCS operates in 44 countries and has 199 branches across the world. It is a subsidiary of the Tata Group and is listed on the Bombay Stock Exchange and the National Stock Exchange of India.Its main function is to provide call- centre services. TCS is the largest Indian company by market capitalization and is the largest India-based IT services company by 2013 revenues. Tata is performing excellently well in terms of sales and pat. It is earning more profits on its sales. Both are increasing. It is also a undervalued scrip bt has a less return on equity. In 2011 it has more pbv ratio that shows decline in roe this was mainly due to recessionary factors. ORACLE FINANCIAL SERVICES LTD: Oracle Financial Services Software Limited (formerly called i-flex Solutions Limited BSE: 532466) is a subsidiary of Oracle Corporation. It is an IT solution provider to the banking industry. It claims to have more than 900 customers in over 145 countries. Oracle Financial Services Software Limited is ranked No. 9 in IT companies of India and overall ranked No. 253 in Fortune India 500 list in 2011. Sales have increased to a considerable amount while pat has increased a bit less as compared to sales that may depict an increase in cost. Being undervalued it is giving little returns on equity. HCL LTD: HCL Technologies Limited (HCL) (BSE: 532281, NSE: HCLTECH) is a global IT services company. It made its IPO in 1999 offers services including software-led IT solutions, remote infrastructure management, engineering and R&D services, and business process outsourcing (BPO). HCL has offices in 31 countries and 90,000 employees. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 6.3 bn as on 14th September, 2013. Sales and

pat are increasing in a good so the company is performing good. It is giving good returns in 2010 and 2012. Infosys Formerly Infosys Technologies is an Indian multinational provider of business consulting, information technology, software engineering andoutsourcing services. It is headquartered in Bengaluru, Karnataka. Infosys is the third-largest India-based IT services company by 2012 revenues,and the second largest employer of H-1B visa professionals in the United States, as of 2012. On 28 March 2013, its market capitalisation was $30.8 billion, making it India's sixth largest publicly traded company. The company is doing good , we can say this by looking into pat and sales. It gave better returns in 2010 then it gave bad returns in 2011 due to recessionary effects while moderate returns in 2012.

Banking industry
SHRUTI PANDEY JL12PGDM148 1. What are the sub-sectors of a particular industry? The vendor landscape has over 50 large and small vendors. Large BPOs like WNS and Genpact traditionally catering to the international market are focusing on building their domestic BPO divisions. We have classified the vendor landscape in the domestic banking BPO into four categories:

International leaders (established BPO vendors with strong presence in international BPO market like MphasiS) India leaders (primarily focused on domestic market like Aegis, InfoVision and Omnia BPO) Emerging companies (companies building capabilities and currently offering specialized services on a small scale like Caretel, vCustomer) 'Me-too players (offering undifferentiated low value services) 2. What are the key concerns affecting the industry? MAJOR

Banks looking to outsource their services Existing vendors to assess the competitive environment in India Other potential vendors to assess opportunities in India Venture capital companies looking for investment opportunities in BPOs Researchers looking for information on domestic BPO industry Regulation There are two key types of regulation. The first limits the amount of risk a bank can take. Only trouble is, its hard for regulators or anyone else to monitor the riskiness of bank portfolios. Indeed, the major credit-rating agencies have come under sharp criticism for failing to recognize the risk of some sophisticated investments. The second type of regulation separates aggressive forms of banking from more mundane lending for mortgages, businesses, and consumer finance. That prevents speculative losses from leading to a cutback in credit available for ordinary business activities. A provision known as the Volcker Rule restricts banks from making risky

investments with the same capital that they use to make loans to clients. But the rule does not require the nearly complete separation of commercial and investment banking. Credit quality Looser regulation wasnt the only thing that led to risky investing before the recession. Federal Reserve Chairman Alan Greenspan pursued an easy-money policy that encouraged banks to lend as much as possible. And since the number of high-quality borrowers is always limited, expansive lending led to a decline in creditworthiness and an increase in so-called subprime real estate lending. Today banks are more cautious. But the Fed is still very expansive, so the potential for speculation remains. Sophisticated investments What sent risk levels into overdrive prior to the recession was the growth of sophisticated investments sometimes known as derivatives that repackaged mortgages and other loans so that they could easily be bought and sold. These vehicles increased the scale of potential losses if loans went bad. They also made it difficult for outsiders and sometimes even for banks themselves to gauge how risky their portfolios were. Although the volume of derivatives outstanding has declined a bit recently, it still remains very high by historical standards. Transparency The difficulties outsiders face in trying to figure out the true risks in bank portfolios is analyzed in a recent Atlantic cover story. According to the article, the biggest cause of panic during the financial crisis was that it was impossible to tell, from looking at a particular banks disclosures, whether it might suddenly implode. The article goes on to conclude that the sit uation is not much different today. Some top banking analysts say that the worst has passed, that the banking industry has reformed, and that the outlook can only improve from here. Prices for bank stocks are still far below their pre-recession highs, and if the industry really has fixed its problems the shares look like terrific bargains. Even at banks with the best reputation, internal risk management seems insufficient. At todays prices, may be good buys for aggressive investors, but plenty of high-yielding retirement investments among oils, pharmaceuticals, telecoms, utilities, and some other industrials are also options. 3. How many players are there in the industry? The major players (including Public, Private, and Foreign sector) in the Indian banking industry, including Bank of Baroda, State Bank of India, Canara Bank, Punjab National Bank, HDFC

Bank, ICICI Bank, Kotak Mahindra Bank, Citibank, Standard Chartered Bank, HSBC Bank, ABN AMRO Bank, American Express, etc. Public Sector Banks (SBI and associates + Nationalised banks) control more than 74-75% of the total credit and deposits businesses in India whereas Private Sector Banks around 17-18% 4. How dynamic and volatile is the industry? The Indian banking industry is witnessing robust growth under the influence of a changing regulatory environment, rapid technological advancements, heightened competition and consolidation. This changing landscape in the banking industry is driving banks to explore the outsourcing option to achieve efficiencies.

Apart from the growth in the industry, centralization and penetration of IT systems, need to focus on core services, rapid scale up and introduction of new services are driving outsourcing in this industry. Outsourcing revenues from the Indian banking industry are estimated at Rs. 4 b for FY08 and are expected to grow at a CAGR of 47% to touch Rs. 19 b by FY12.The outsourcing potential in the Indian banking industry will increase rapidly as banks strengthen their IT systems. Large international BPOs with their experience of serving global banks and an end-to-end services portfolio are better poised to capture this market in the long term.

In the absence of cost arbitrage, creating value from outsourcing will be a critical challenge in the domestic BPO. Building and maintaining meaningful differentiators will be critical to growth and profitability. With high growth in this space, international multi-service BPOs will leverage on the expertise gained from global banks to garner business from Indian banks.

Large scale multi-city operations, partnerships, ability to quickly ramp up operations while maintaining quality and developing advisory capabilities will be key success factors for outsourcing vendors focused on the banking industry. With further de-regulation in the banking industry and entry of several new private and foreign banks, the addressable market for banking BPO is expected to grow to 10 times the current revenues.

FMCG Industry
SHWETA VATYANI Fast-Moving Consumer Goods (FMCG) or Consumer Packaged Goods (CPG) are products that are sold quickly and at relatively low cost. Examples include non-durable goods such as soft drinks, toiletries, and grocery items. Though the profit margin made on FMCG products is relatively small, more so for retailers than the producers/suppliers, they are generally sold in large quantities. FMCG is probably the most classic case of low margin/high volume business. Many of the players on the retailer side such as Walmart, Carrefour, Walgreens or Metro Group and supplier side are among the largest and most recognized global companies. Fast-moving consumer electronics are a type of FMCG and are typically low priced generic or easily substitutable consumer electronics, includingmobile phones, MP3 players, game players, and digital cameras which are of disposable nature. The FMCG Sector offers the most conservative or defensive options in the current market scenario. The consumption demand for FMCG products continues to be strong in both local and international markets. Also, the domestic consumption is growing irrespective of the interest rate cycle and the domestic economic scenario. As a result, the FMCG sector is expected to do well in the future. MAJOR SEGMENTS OF THE FMCG INDUSTRY: Household Care The detergents segment is growing at an annual growth rate of 10 to 11 per cent during the past five years. The local and unorganized players account for a major share of the total volume of the detergent market. With rapid urbanization, emergence of small pack size and sachets, the demand for the household care products is booming. In washing powder segment, HUL is the leader with ~38 per cent of market share. Other major players are Nirma, Henkel and Proctor & Gamble. Personal Care Personal care segment includes personal wash products, hair care products, oral care products, cosmetics etc. The Indian skin care and cosmetics market is valued at $274 million and is dominated by HUL, Colgate Palmolive, Gillette India and Godrej. The coconut oil market accounts for 72 per cent share in the hair oil market. The hair care market can be segmented into hair oils, shampoos, hair colorants & conditioners, and hair gels. In the branded coconut hair oil market, Marico (with Parachute) and Dabur are the leading players. Sachet makes up to 40 per cent of the total shampoo sale. Again the market is dominated by HUL with around ~47 per cent market share; P&G occupies second position with market share of around ~23 per cent. Personal

wash can be further segregated into three segments namely Premium, Economy and Popular. Here also, HUL is the leader with market share of ~53 per cent; Godrej occupies second position with market share of ~10 per cent. Swelling disposable incomes of the Indian consumers, growth in rural demand and upgrading to the premium products are the key drivers for future demand growth in major FMCG categories. Food and Beverages This segment comprises of the food processing industry, health beverage industry, bread and biscuits, chocolates & confectionery, Mineral Water and ice creams. The three largest consumed categories of packaged foods are packed tea, biscuits and soft drinks. Indian hot beverage market is a tea dominant market. The major share of tea market is dominated by unorganized players. Leading branded tea players are HUL and Tata Tea. Mjaor players in food segment are HUL, ITC, Godrej, Nestle and Amul.

Current scenario: India has 17% of the world's population and that half of these people are below the age of 25. With a median age of 25 years, increasing numbers are joining the Indian workforce. India's share in world consumer spending is set to enlarge from 1.9% in 2005 to 3.1% in 2020. Income in the hands of younger consumers with a higher propensity to spend, is providing optimism to the economy while opening up new categories in the FMCG space. India is under changing phase as more women are joining India's workforce, FMCG players are finding opportunities to introduce products in the convenience and health foods segments. While spending on women's personal care products is also becoming far more acceptable. Distribution of smaller pack sizes, innovations like single use sachets to reach out to the rural and lower section of the economy is gaining demand. Innovative products to cater to regional or local tastes and the needs of niche consumers is also benefiting in growth of the industry.

Key growth drivers to the Industry are as follows: Robust growth in Indias GDP Growing urbanization Evolving consumer life style Increased income in rural areas Spending Pattern Changing Profile and Mind Set of Consumer Growth of modern retail

The FMCG sector has a great opportunity for growth in the country, with the growing population, the rising disposable incomes, education, urbanization, the advent of modern retail, and a consumption-driven society. There is a potential for all the FMCG companies as the per capita consumption of almost all products in the country is very low compared to world standards, thee exists there huge untapped opportunities.

Real Estate Sector

SOMIL RASTOGI Current Scenario of the Real Estate Market in India Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the economy, Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors. The key revenue drivers in the industry 1) Rise in Disposable Income: The demand for real estate has been rising with the increase in disposable income coupled with more and more consumers falling under the double income families. Also, the growing Indian middle-class plays a major role in increasing the demand. 2) Easy-availability of consumer financing: In the case of real sector financing options to the consumers by banks. 3) Increasing growth of real sector: Since the last couple of years there has been an increasing shift towards the investment in the real sector. Real Estate and Financing Trends in India 1) Securitization and CMBS From the perspective of companies who want to sell off assets, securitization schemes provide a greater diversity of alternatives to liquidate real estate. Securitization is primarily used by the corporate houses to convert the corporate real estate to commercial real estate. 2) Realty Funds/ Realty Mutual Funds in India Initiated by SEBI, the REMFs true potential would be tapped only after the setting up of REITs, as they infuse confidence among investors by serving as custodians of title deeds. (REITs pool various real estate assets, including warehouses, buildings, industrial estates and parks, malls, commercial and residential premises and get listed on the stock exchange to enable investors to buy and sell. They afford an opportunity to diversify the portfolio within that limited sense as well. However, SEBI has not allowed the creation of REITs in India as yet, though REITs are well established in the more mature real estate markets. ) Currently the REMFs in the Indian market are targeted at the HNIS and corporate investors.

Risks involved in the Real Estate Investment Market 1) Liquidity risk The real estate investment market is still in its infant stage. The time required for liquidity of real estate property can vary depending on the quality and location of the property. 2) Regulatory risks In terms of property ownership, permission from the Reserve Bank of India is required for foreign investors. For capital repatriation, investors need to apply for approval from the RBI, and foreign direct investment is limited to a limited set of opportunities (e.g. townships). The REMFs work within the SEBI framework. Being a developing and growing sector, the rules, regulations and legalities demonstrate frequent changes, making it seem as a cumbersome investment option to the investors. 3) Property market transparency risk The Indian property market has low transparency when compared to the more mature and developed real estate markets. Although market transparency has improved, reliable and consistent information on the Indian property market is still not easily available. There are also more professional due diligence and valuation institutions needed. This holds true even for the Tier I cities. 4) Macroeconomic risks Interest rates, inflation and exchange rate risks are amongst the important macroeconomic indicators and have shown decreased volatility. The provision of facilities, is in many regions, still inadequate (education, transport infrastructure). These risk factors are not likely to disappear in the near future, impeding the development of the real estate sector. 5) Ownership and Land Title Issues Lack of information and low transparency in the real estate segment in India, coupled with the age old property related issues discourages the investment of the large players in the semi urban and rural areas thus slacking an overall growth of the real estate secto Conclusion The Indian real estate sector promises to be a lucrative destination for foreign investors into the country. The Indian realty sector, if channelized properly, could catapult the growth of several other sectors in India through its backward and forward linkages.

However, there are potential constraints for domestic as well as foreign investments in India. Absence of a single regulator to monitor business practices prevailing in Indian real estate market is perceived to be a risk factor by investors. The SEZ guidelines which are issued by the Commerce Ministry are constantly modified, creating uncertainty. Since the liberalization of FDI norms, significant foreign investments have flown into real estate; but availability of suitable exit options for such investments is still constrained. Maturity of the real estate markets will lead to infusion of foreign investment and adoption of international best practices by real estate players. Developers will get more organized, and become more transparent to avail opportunities emerging in the market. With the Indian securities market regulator SEBI allowing real estate mutual funds (REMFs) in India, equity investors will have an exit option available to them. All these factors will contribute in making the Indian real estate market more organized and structured, thus providing better investment opportunities. About the Companies:1) Ansal Buildwell Ltd. The Ansal Group is amongst the handful of Indian corporates that have built a global reputation through a culture of innovation and excellence. Four decades ago, this dynamic enterprise altered Delhi's corporate skyline. Today, its activity profile encompasses the entire gamut of real estate development and construction activity, both in India and abroad. Bearing testimony to Ansals' unmatched expertise are a host of high-rise commercial and residential complexes, environmental upgradation projects, farm lands, hi-tech engineering projects, schools, technical and professional institutes, industrial estates, etc.Colonization is yet another thrust area for Ansals. Several modern townships have been developed by the group with various infrastructural facilities and amenities. 2) Eldeco Housing & Inds. Ltd. Incorporated in 1985, EHIL has held an uninterrupted market leadership position in most major towns of UP, most notably Lucknow and Kanpur. EHIL is listed on the Bombay Stock Exchange and has had an uninterrupted dividend paying record since inception. 3) Mahindra Lifespace Developers Ltd.:Mahindra Lifespaces, the real estate development arm of the $6 billion Mahindra Group, is a subsidiary of Mahindra & Mahindra Limited. Formerly known as Mahindra Gesco Developers Ltd, the new name reflects the company's passion and vision of creating spaces for healthy living - in both residential and commercial segments. Mahindra Lifespaces has a focus on quality, transparency and providing value to customers. The company's new identity exemplifies the spirit behind its creations. Called the 'Flower of life', the new logo encompasses flowers of different colours, with each colour signifying a vital aspect

of life. It stands for naturalness, freshness, health, vibrancy, energy, and the beauty of life qualities that inspire 4) Sobha Developers Ltd. Headquartered in Bangalore, Sobha is primarily focused on residential and contractual projects. The Companys residential projects include presidential apartments, villas, row houses, luxury and super luxury apartments, and plotted development along with amenities such as clubhouse, swimming pool and shopping complex. In all its residential projects, the company lays a strong emphasis on environmental management, water harvesting and high safety standards. As of June 30th 2013, Sobha has completed 85 real estate projects and 230 contractual projects covering about 56.38 Million Square Feet of area. The Company currently has 45 ongoing residential projects aggregating to 26.79 million square feet of developable area and 18.90 million square feet of saleable area, and 40 ongoing contractual projects aggregating to 11.41 million square feet of area. Sobha has made a footprint in 23 cities and 13 states across India.

HEALTHCARE INDUSTRY
TUHIN SHARMA The Indian healthcare industry, valued at ~US$65billion in 2012, is highly fragmented and dominated by private players The industry has witnessed tremendous entrepreneurial activity over the last few decades across the entire value chain as demonstrated by strong growth in its various sub-segments In the future, demand for Healthcare services in India is poised to grow exponentially to cater to a growing old age population, with rising incidence of lifestyles diseases, rising incomes and affordability, and increased penetration of health insurance. A global survey on healthcare costs suggests that India spends only 4.2% of its GDP on healthcare, compared to an average of 8.5% globally, and lower than other emerging countries such as Brazil (9.0%), China (4.6%), and Russia (5.4%) In general government-run facilities have inadequate equipment and poor quality, and as a result private players can capitalize on this opportunity. The private sector is expected to contribute 80% - 85% of the US$86billion investments required in healthcare till 2025 Indian Hospitals are exploring various innovative models to improve their performance and profitability, viz. introducing telemedicine, focusing on specialty centers and day care centers. CATEGORIES IN HEALTHCARE MARKET Hospitals: Government Hospitals Includes Healthcare centers, district hospitals and general Hospitals Private Hospitals Includes nursing homes, midtier, and top-tier private hospitals Pharmaceuticals: Includes the manufacturing, extraction and packaging of chemical materials to be used as medicines for human & animals Diagnostics: Comprises of businesses and laboratories that offer analytic or diagnostic services including body fluid / blood analysis Medical Equipments: Includes establishments primarily engaged in manufacturing medical equipment and supplies, such as surgical, dental, laboratory instruments, etc Medical Insurance: Covers an individuals hospitalization expenses and medical care bills incurred due to sickness MAJOR PLAYERS: Apollo Hospitals Fortis Healthcare Arvind Eye Hospitals Care Hospitals Max Hospitals Manipal Group of Hospitals

Factors affecting the industry Technology and Business:New technology is vital to every industry, but the health care industry thrives on it. Patients demand faster, more accurate access to treatment, and physicians need the technology that can make their jobs easier. Medicare reimbursement: Already a hot topic in locations with a large senior population, changes to Medicare will be very important to administrators. Since Medicare is the insurance program for seniors and the disabled, millions of people depend on it for their health care. That means thousands of doctors, hospitals and other facilities treat those patients and get paid by the government for their services. Prescription Drug: Costs The growing costs of prescription drugs affect the patients who receive them and the doctors who prescribe them. For example, prescription drug costs can vary widely between name-brand and generic medicine. Administrators need to understand not only the basics of these cost differences, but also how these differences will influence treatment options. Population: The 1.17 billion population of 2009 is projected to reach 1.33 billion in the next 10 years. Of which almost 60 per cent of population is in the 15-64 year age group - which is the active earning population and will primarily drive the industry, especially the healthcare insurance industry which will make healthcare accessible over a period of time to majority of the population. High capital costs: Depending on the region and real estate costs, an average hospital requires capital infusion of Rs 40 lakhs to a crore per bed (& even more). Industry estimates suggest that any hospital with capital costs of more than 50 lakhs per bed has high gestation period and even may be unviable. Land and building together account for almost 40 per cent of the total project cost and affects the viability depending on the resulting per bed cost. Medical equipment: Contributing to almost 40 per cent costs in a tertiary setup, the medical equipment though cutting edge at the time of purchase poses the threat of inevitable obsolescence within five to seven years of setup. This problem is compounded by the fact the most of such equipment is imported and very few local reputed manufacturers exist.This will lead to apportioning to higher treatment costs and will further lead to lesser competitive edges and low utilisation rates resulting in an undesired operating margins. Future prospects: According to recent studies conducted, the customer's (patient) aspirations are fast changing. Customers are growing more aware of their health needs, demand quick response, less waiting times, and above all - demand nearness of the healthcare unit to them.Customers though now demand better quality care; they however now do not want to travel much as in earlier days.

As per various studies including a report by IDFC, and Mc Kinsey, Indian Healthcare industry will be worth $125 billion in the next five years.Public spending is likely to increase beyond 20 per cent, there is room for everyone in the organised private healthcare sector.The entities who have noted this advantage to name among the other few are Apollo and Fortis with its cumulative market cap of around $ five billion and may be considered as a reflection of the healthcare scenario of the present and future of Indian healthcare. India presently has a bed deficit of approximately 30 lakh beds as per the WHO recommendation of four beds per 1000 population. Considering even a 250 bedded hospital on an average, the country would need 12000 hospitals in the near future. As almost 80 per cent of this would be fulfilled by the private players, a huge rise in IPO's and premium commanding players in the arena would flutter bringing in interesting times for the healthcare industry. Recent spurt in Public Private Partnership(PPP) projects, and thrust on quality by the government sector and its demand (& mandate in some areas) on NABH and ISO, a lot of consultancy business is abuzz with the projects galore in the accreditation and QMS field. India to its credit already has one government hospital NABH accredited and many are in the pipeline. With CGHS making NABH mandatory for care and hospitalisation cost reimbursements, there is hectic activity seen in hundreds of hospitals waking up to the long due need for quality healthcare and applying for the coveted quality mark.

Automobile Industry UTKARSH SRIVASTAVA 1)The auto industry can be broadly divided in four sub sectors: (a) Four Wheelers (4W) (b) Two wheelers or 2Ws (c) Commercial vehicles and (d) Three wheelers (3W) 2)Key challenges A slow down of investment in the OEM A sharp rise in imports ,mainly from ASEAN countries 3) Key Drivers 1)Proven product developmental capabilities 2)Stable economic policies 3)Availability of Manpower 4)High quality standards 5)Proximity to markets 6 )Large and growing domestic demand 4) Major Players are Maruti Suzuki Tata Motors TVS motor Escort ltd

5) Prospects of the particular industry in the overall economy: The automobile industry in India seems to be poised for strong growth in the decade ahead, though currently it is passing through a bad patch. However the industry needs to first deal with some major challenges to exploit the emerging opportunities both locally and globally.

The Automative Mission Plan 2006-2010 aims to make India a global automotive hub, which would involve doubling the auto sectors contribution to Indias GDP by taking its turnover to $145 billion. Expected increase in vehicle population in the decade ahead,the need for efficient and environment friendly recycling facilities would assume critically ,especially given the growing interest of global OEMs in India and increasing awareness of ecological issues.

6) From where do we get all the information about the company? From the following sources we get the information about the industry; Website Magazine Newspaper

7) The Companys Business: Automobile industry is in the business of vehicle manufacturing(four wheelers, 3 wheelers, 2 wheelers)