Wert der Firma seit Existenz mehr als 200x gestiegen
estbliert & gut durchstruktiert
neue Wette:
von der grössten Baufirma....zum grössten Ind Finanazdienstleister
wenn die Wette aufgeht ++++++++++++++ ;-)
Indiabulls Financial Services Ltd., backed by billionaire Lakshmi Mittal, predicts a planned fund management unit will rank among India's top five by 2010, seeking to replicate successes from broking to real estate.
Chief Executive Officer Gagan Banga, who helped parlay a $12 million company into a group valued at more than $10 billion since 2004, said he expects to receive a license to set up a mutual fund unit this week. He plans to create a $6 billion fund management company, vying with Templeton Asset Management India Pvt. and Fidelity Funds Management Pvt. in an industry that's quadrupled in size over the past five years.
``If we can't do it in two years, we'll never do it,'' Banga, 32, said in a Jan. 7 interview in Mumbai. ``We should be in the top five business groups in the next three years. We should run the largest retail brokerage, run the largest financial services operation, we want to be among the largest real estate companies, be among the largest retailing companies.''
Banga said he'll tap a million-strong client base at more than 600 offices across India to compete for the wealth of a nation where invested assets will quadruple to $1 trillion by 2012, according to consulting firm Celent. Started in 2000, Indiabulls owns India's third-most valuable real estate company and more than 42 retail outlets in the $906 billion economy.
Chairman Sameer Gehlaut started Indiabulls as an online stock brokerage with two fellow engineering graduates from the Indian Institute of Technology, Delhi.
Mittal's Bet
Mittal, ranked by Forbes Magazine as the richest Indian with a $51 billion fortune, at the time invested about $1 million in Indiabulls, said Banga. That bet has yielded a more than 200-fold return since then, after accounting for spinoffs of the group's real estate and brokerage units, he said.
``He took a call when most others didn't know what India was all about,'' said Banga. ``It was more of a vision call, rather than a micro call on the country.''
Indiabulls has surged 44-fold since its September 2004 initial public offering, closing at 834.75 rupees yesterday. The benchmark Sensitive Index has almost quadrupled during the period.
Banga, who models Indiabulls on Charles Schwab Corp., the biggest U.S. discount brokerage, and Costco Wholesale Corp., the largest U.S. chain of wholesale-warehouse stores, is taking a bet on an economy forecast by the government to expand 9 percent this year, second only to China among major economies.
Retail Investments
Indiabulls plans to invest 15 billion rupees ($382 million) over the next 12 months to set up 30 shopping malls across India, Banga said. It will hire 10,000 employees for its retail forays - - representing a 50 percent expansion of its current headcount, he said. The firm last month said it's acquiring Piramyd Retail Ltd., with 42 stores.
Almost half of India's 1.1 billion people are under 25 years old. They're spending more on electronics, jewelry, clothes and cars as incomes grow along with the economy and credit becomes more accessible.
Tracking the nation's rising affluence, Indiabulls' real estate unit doubled on the Bombay Stock Exchange since it listed in March. Indiabulls this week said it plans to raise $1 billion selling shares, the fourth such offering since 2004.
Last month, Indiabulls announced an insurance venture with Societe Generale, France's second-biggest bank by market value.
Now, Banga is setting his sights on one of the world's fastest-growing funds markets. Assets under management at mutual funds in India swelled more than fourfold to 5.4 trillion rupees in the five years to November, according to data compiled by Bloomberg.
`Ambitious Target'
Banga may struggle to reach his fund-management goals, said Dhirendra Kumar, CEO of Value Research, a New Delhi-based company that tracks the industry.
``It seems to be an ambitious target as the variables required to run a mutual fund are quite different from the securities broking and real estate businesses,'' said Kumar. ``The mutual funds business in India is still in its infancy, and Indiabulls stands to make a mark, but two years seems to be a very ambitious target.''
Reliance Mutual Fund, India's largest, boosted assets under management fivefold to 777 billion rupees in the two years to November. In the same period, Templeton Asset Management almost doubled assets to 308 billion rupees.
Indiabulls may resort to acquisitions to help reach its goals, Banga said.
``If something comes by at an appropriate price we will buy,'' he said. ``But we will not depend on that model. We are happy to do the build model.'
estbliert & gut durchstruktiert
neue Wette:
von der grössten Baufirma....zum grössten Ind Finanazdienstleister
wenn die Wette aufgeht ++++++++++++++ ;-)
Indiabulls Financial Services Ltd., backed by billionaire Lakshmi Mittal, predicts a planned fund management unit will rank among India's top five by 2010, seeking to replicate successes from broking to real estate.
Chief Executive Officer Gagan Banga, who helped parlay a $12 million company into a group valued at more than $10 billion since 2004, said he expects to receive a license to set up a mutual fund unit this week. He plans to create a $6 billion fund management company, vying with Templeton Asset Management India Pvt. and Fidelity Funds Management Pvt. in an industry that's quadrupled in size over the past five years.
``If we can't do it in two years, we'll never do it,'' Banga, 32, said in a Jan. 7 interview in Mumbai. ``We should be in the top five business groups in the next three years. We should run the largest retail brokerage, run the largest financial services operation, we want to be among the largest real estate companies, be among the largest retailing companies.''
Banga said he'll tap a million-strong client base at more than 600 offices across India to compete for the wealth of a nation where invested assets will quadruple to $1 trillion by 2012, according to consulting firm Celent. Started in 2000, Indiabulls owns India's third-most valuable real estate company and more than 42 retail outlets in the $906 billion economy.
Chairman Sameer Gehlaut started Indiabulls as an online stock brokerage with two fellow engineering graduates from the Indian Institute of Technology, Delhi.
Mittal's Bet
Mittal, ranked by Forbes Magazine as the richest Indian with a $51 billion fortune, at the time invested about $1 million in Indiabulls, said Banga. That bet has yielded a more than 200-fold return since then, after accounting for spinoffs of the group's real estate and brokerage units, he said.
``He took a call when most others didn't know what India was all about,'' said Banga. ``It was more of a vision call, rather than a micro call on the country.''
Indiabulls has surged 44-fold since its September 2004 initial public offering, closing at 834.75 rupees yesterday. The benchmark Sensitive Index has almost quadrupled during the period.
Banga, who models Indiabulls on Charles Schwab Corp., the biggest U.S. discount brokerage, and Costco Wholesale Corp., the largest U.S. chain of wholesale-warehouse stores, is taking a bet on an economy forecast by the government to expand 9 percent this year, second only to China among major economies.
Retail Investments
Indiabulls plans to invest 15 billion rupees ($382 million) over the next 12 months to set up 30 shopping malls across India, Banga said. It will hire 10,000 employees for its retail forays - - representing a 50 percent expansion of its current headcount, he said. The firm last month said it's acquiring Piramyd Retail Ltd., with 42 stores.
Almost half of India's 1.1 billion people are under 25 years old. They're spending more on electronics, jewelry, clothes and cars as incomes grow along with the economy and credit becomes more accessible.
Tracking the nation's rising affluence, Indiabulls' real estate unit doubled on the Bombay Stock Exchange since it listed in March. Indiabulls this week said it plans to raise $1 billion selling shares, the fourth such offering since 2004.
Last month, Indiabulls announced an insurance venture with Societe Generale, France's second-biggest bank by market value.
Now, Banga is setting his sights on one of the world's fastest-growing funds markets. Assets under management at mutual funds in India swelled more than fourfold to 5.4 trillion rupees in the five years to November, according to data compiled by Bloomberg.
`Ambitious Target'
Banga may struggle to reach his fund-management goals, said Dhirendra Kumar, CEO of Value Research, a New Delhi-based company that tracks the industry.
``It seems to be an ambitious target as the variables required to run a mutual fund are quite different from the securities broking and real estate businesses,'' said Kumar. ``The mutual funds business in India is still in its infancy, and Indiabulls stands to make a mark, but two years seems to be a very ambitious target.''
Reliance Mutual Fund, India's largest, boosted assets under management fivefold to 777 billion rupees in the two years to November. In the same period, Templeton Asset Management almost doubled assets to 308 billion rupees.
Indiabulls may resort to acquisitions to help reach its goals, Banga said.
``If something comes by at an appropriate price we will buy,'' he said. ``But we will not depend on that model. We are happy to do the build model.'
