Time Mindtree, L&T top brass sat and talked real business: Phaneesh Murthy

The Indian IT industry, which went through a high growth curve, has now entered a more mature phase. Many Indian companies today compete effectively against global peers across geographies. It is typical of a mature industry to undergo consolidation through mergers and acquisitions and the Indian IT industry is no different. From targeted IP-driven acquisitions to mergers such as the ones between iGate and Patni and then subsequently Capgemini and iGate, KPIT and Birlasoft, as well as Atos acquiring Syntel, this consolidation trend is here to stay. All these, however, were done with buyers…

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L&T Realty to ink deal with Nirmal Lifestyle to develop Mulund land

Nirmal Lifestyle, which builds malls and corporate offices apart from residential projects, has been in talks with several developers to monetise its land parcel to repay debt, which stands at over Rs1,000 crore. Mumbai: L&T Realty Ltd is close to signing an agreement with Nirmal Lifestyle Ltd to jointly develop a 16-acre plot at Mulund in Mumbai. As part of the deal, L&T Realty would pay an upfront deposit of Rs400 crore to Nirmal Lifestyle, which owns the land, according to two people aware of the development. The land parcel…

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