Hirco Share Discussion Threads

[kenny] 14/2/2011 12:17

It does look like legalised theft if HRCO cannot force the Burke companies to pay the preference dividends to HRCO.

[hugepants] 14/2/2011 11:57

I still think you are posting out your rear end. You say the money has been stolen from Hirco. If thats the case its good news because theft is still a crime in India and Hirco will be due £450M back. Either that or we'll be given owenership of the Burke companies

[envirovision] 14/2/2011 11:46

Now you know why you always appear stupid.

Next Time: engage brain before mouth.

[hugepants] 14/2/2011 11:24

Didn't notice the AGM statement today.

[horndean eagle] 14/2/2011 11:13

Company looks like it might have to take drastic action and enforce some of its rights with regards to the projects. I believe one of those is the ability to replace Hiranandanhi from managing the projects. The dirty scumbags aren't likely to receive any further foreign investment elsewhere after pulling a fast one here. HSBC won't be lending them any cash soon either.

[envirovision] 14/2/2011 11:11

HIRCO SAYS: "will maintain its original aims of being an investor in the current four high-quality real estate developments in Chennai and Mumbai. As there are now no Family members on the Board, the Company's ability to monitor and/or influence the development of the projects is restricted to its defined legal rights, as set out in the investment agreements for each Burke development. The Board is aware that, in the absence of co-operation from the Burkes, enforcing those rights may have practical difficulties."

"the Board believes that the Company has sufficient cash to fund operations for approximately 18 to 24 months"

I agree hugepants it is total rubbish.

However hmmmmmm.

not my rubbish

[hugepants] 14/2/2011 11:02

Posting rubbish again enviro?

hmmmm

[envirovision] 14/2/2011 10:51

Sounds to me the developers of the four high-quality real estate projects have stolen Hircos money and now by their own admission there is little they can really do about that.

Meanwhile the company has limited cash left.

hmmmmm

[matt123d] 14/2/2011 10:12

Start of the fresh leg down to 50p

[scburbs] 09/2/2011 08:45

"One of the last hurdles before the Navi Mumbai airport a green signal by the forest department has been cleared.

Speaking to Mumbai Mirror on Tuesday, the deputy conservator of forests of the Alibaug division, Anwar Ahmed, said, "In the last one month, I had returned the file to CIDCO, the airport's developer, twice.

However, I am satisfied with their last replies and have cleared the file at my end and will send the file to office of the chief conservator of forests by Wednesday. Getting formal permissions won't be problematic now."

...

CIDCO Acting Managing Director Tanaji Satre said, "Once we receive the clearance, we will move the High Court to reclaim the plot of mangroves so that construction can finally be begun.""

[hugepants] 07/2/2011 19:13

It looks like all sells today yet price is up 4%. Someones buying.

[hugepants] 07/2/2011 13:37

Im beginning to think that this god-awful abomination of a stock has finally bottomed out.

[hvs] 31/1/2011 13:44

By the DACOITS ?

[tivoliworldgaming] 31/1/2011 13:39

2 big buys today.

Looks like a takeover.

[hvs] 30/1/2011 10:54

Looks like the DACOITS are doing overtime.

[pjj71] 28/1/2011 16:27

whats going on now i wonder!!

[tivoliworldgaming] 28/1/2011 15:58

I thought this share was meant to be going up on all this good news?.

I think this fall is just another opportunity to get in while they are still low.

[hugepants] 21/1/2011 08:57

Yes looks like they've increased their holding. Previous HSBC RNS was:

[josels] 19/1/2011 23:29

about time this turns upwards

[horndean eagle] 14/1/2011 16:13

Presentation says the board are looking for a resolution to the shareholding structure in the next 6 months. They have set a deadline so I imagine if nothing has been sorted out there could be more drastic action such as replacing Hiranandani as developers.

Panvel SEZ looks to be far optimistic a proposition that we are being led to believe. Punj Lloyd have announced a letter of intent has been signed. Looking to complete the first building within 12 months and the second within 2 years.

[scburbs] 13/1/2011 16:07

Some commentary from an investor comparing the different projects near the proposed new airport.

"It is up to every individual to decide what he needs:
Arihant: at 2300, 3 storey building, 75 building society, other side of panvel, near a river!
IB: 2900, lack of transparency, long time for possession, township and 5Km from panvel
Hiranandani: 3600, including an SEZ, in Rasayani, leasehold, but posh!!
Kalpatru: 4000, river thing stinks, good builder, good location.

Hope u remember me frm Indiabulls Panvel greens forum. I am in a better position to compare these projects as I have invested in both of them. [504, H-Block in Indiabulls and 2403, Claremont in Hirco]
I think it is not fair to compare hirco project with Indiabulls w.r.t. its distance from Panvel stn or upcoming panvel a/p for that matter. I m aware that hirco is around 5kms farther than indiabulls from Panvel rly stn, but Indiabulls itself is at least 6kms from the stn which in itself is already a long distance from any rly stn by Mumbai standards wherein distance between two consecutive stns is sometimes less than 5kms
Both these projects are going to have shuttle services to and from the respective projects to the rly stns and on the New Panvel Roads, I think people from Hirco might need to take only a 5 mins earlier shuttle to reach Panvel rly stn on the same time as those from Indiabulls project.
In my opinion Hirco is a posh project in true sense since they might have lesser number of residential buildings in their 280acres as compared to Indiabulls with only 80acres at their disposal, leading to more scope for open spaces and other recreational activities.
I have 3BHK in 1407sqft. in Indiabulls H-Block... as compared to only 2.5BHK in 1580 sqft in Hirco. This is a good indication of who has got more spacious Flats.
Hirco have better views of matheran mountains for their higher floor occupants in addition to the garden view for their lower floor occupants as compared to Indiabulls project. Coparison of bldg layout plans show that Hirco has taken a much better care of the views from almost all their appartments as against Indiabulls wherein only those flats paying PLC charges are offered good views [i have myself paid a PLC of Rs.100 for Garden view in Indiabulls project]
The very fact that Hirco will have their own power substation (built by Tata Power) to support their township speaks volumes about their superiority in customer care.
And above all unlike Indiabulls, who have been non-transparent and illusive about their commencement of construction, Hirco has been very clear that they don't expect their construction to begin before the last quarter of Yr.2010 even if Hirco was soft launched at least 6 months before Indiabulls Panvel greens.

Plz don't think that i want to demoralize you as it will be like demoralizing myself as I am also an investor in Indiabulls (phase-1). In fact would like to congratulate you as we have already got a good appreciation on what we bought. But on any day I will never accept the argument that Hirco Palace gardens in Panvel is not a best investment."