Nagarjuna clamps down

Nagarjuna Construction Co. Ltd. has clamped down on future real estate projects due to current slowdown in the sector and has tempered its capital expenditure plan for 2008-2009, a top official said. The company is also planning to spin off its real estate operations by March 2009 to its subsidiary NCC Urban Infrastructure Ltd, Subba Raju, vice president-finance, told analysts after the company’s results, reports Reuters.

NCC Urbanis working on a games housing project in Jharkhand.,
US new homes’ sales up

New home sales in the U.S. showed a modest 2.7 per cent rebound in September helped by falling prices, government data showed, according to AFP report. The sales of new one-family houses rose to an annualised pace above market expectations.
Fire safety seminar

A 2-day national seminar on ‘Fire Safety and Security of Mega Structures’ is being organised by the Fire and Safety Association of India at Hotel Taj Krishna from November 14.