SECTOR UPDATE

Real estate

Possible price rise in NCR; IT slow down points otherwise
According to media reports, BPTP has won the bids for the development of 95 acre in Noida for Rs5,006 crore. BPTP, which quoted approximately Rs1.30 lakh per square metre, outbid the real estate giants DLF and Omaxe, which had made bids of Rs1.17 lakh per square metre and Rs0.80 lakh per square metre respectively. BPTP is planning to develop hotels, commercial complexes and financial hubs on the acquired land.

Information Technology

Outlook on IT spending worsens
Recent reports in media indicate that there has been no improvement in the outlook for IT budgets till now. In the post result interaction, Infosys management had indicated that there would be clarity in the IT budgets of its clients by March. However, in the recent media reports, the company officials stated that some of the clients have still not finalised their IT budgets for CY2008, whereas some others have finalised the budget but are still to make allocations. The management expects the situation to improve by April.