Residential still has an upside with number of housing schemes beig launched. But commercial, there seems to an overcapacity. Is this probably the reason why blue star isnt doing much and also their foray into household ac's...???

Unitech, India's leading business group and an integrated developer of large-scale real estate projects, has launched two projects in Nirvana Country 2, Gurgaon ~ Nirvana Courtyard 2 and The Willows. Nirvana Country 2, a 100 acre integrated township located in sector 71,72 Gurgaon, has luxurious developments like Alder Grove (villas), Espace Premiere (villas) and Exquisite (apartments).

Since Century Textiles is relevant to this thread, I am posting some highlights from the AGM:-

AGM      
          Century Textiles
After ongoing upgradation & expansion, the total cement manufacturing capacity will stand increased to 12.8 million tonnes per annum


Century Textiles held its 114th Annual General Meeting in Mumbai addressed by Mr B. K. Birla, Chairman.
The working and operational parameters at all the plants of the Company were quite satisfactory during the year, but profitability was adversely affected in comparison to the previous year due to adverse market conditions prevailing mainly in the Cement industry. Further, increase in the overall cost of all operations of the Company also depleted profitability. In view of all the challenges in the industries and markets in which your Company does business, the results are considered satisfactory.
The Board of Directors has recommended a dividend of Rs 5.50 (Rupees five and paise fifty) per share of Rs 10/- each equivalent to 55% (fifty five percent) on the paid up equity share capital of the Company for the year ended 31.03.2011 as against Rs 5.50 (Rupees five and paise fifty) equivalent to 55% (fifty five percent) paid in the previous year on the equity shares of Rs 10/- each. The dividend will be paid when declared by the shareholders in accordance with law. The dividend will be free of tax in the hands of the shareholders. The Company will have to pay dividend distribution tax @ 15% plus applicable surcharge and education cess, aggregating about 16.22% on the dividend amount so distributed.
The total exports of the Company amounted to Rs 366 crore (Previous year Rs 372 crore) representing about 8 percent of the net sales.
EXPANSION & MODERNISATION:
Rayon
The process of installation of 12 machines for production of viscose filament yarn is in progress in order to increase the production capacity of viscose filament yarn by about 5 per cent per annum. Further, two existing electrolyzers are being replaced by an energy efficient electrolyzer in the Caustic Soda plant. These improvements involve capital expenditure of about Rs 50 crore and are expected to be completed before December, 2011.
Cement
Purchase orders for supply of main plant & machinery for 1.5 million tonnes per annum (tpa) cement grinding unit named Sonar Bangla Cement at Sagardighi, Distt. Murshidabad, West Bengal and for expansion of 2.8 million tpa cement manufacturing capacity at Manikgarh Cement, Gadchandur, Distt. Chandrapur, Maharashtra have been released.
At Sonar Bangla Cement (Grinding Unit) extensive pilling work on account of soil condition had to be undertaken and it is likely to be over by June, 2011. Thereafter main plant civil work will commence. Civil work for Manikgarh Cement expansion will start from June, 2011. The Sonar Bangla Cement (Grinding Unit) is expected to be operational by September, 2012 and Manikgarh Cement expansion by March, 2013.
After ongoing upgradation & expansion, the total cement manufacturing capacity will stand increased to 12.8 million tonnes per annum.
Pulp and Paper
The Fibre Line (Pulp Plant) with a capacity of 1.62 lakh tonnes per annum and Multilayer Packaging Board Plant with a capacity of 1.8 lakh tonnes per annum are near completion. The production is expected to commence during May, 2011 and will get stabilized in due course. It may be added that the 43 MW turbine has already been commissioned successfully. Further, we have undertaken upgradation of Paper Machine based on recycled pulp by installing a size press and A-4 cutter for copier paper for which orders have already been placed. We are also increasing the bagasse pulping capacity by another 23,400 tonnes per annum by installing a continuous digester and carrying out modifications in the existing plant. The total cost for these initiatives is expected to be about Rs 220 crore and these are likely to be completed before the end of the current financial year.
General
Modernisation and technological upgradation programmes continue at all the units of the Company to maintain competitiveness and achieve better quality. Stringent cost control measures remain in place in all possible areas and are regularly reviewed.
LAND DEVELOPMENT AT WORLI, MUMBAI:
At present, one office building adjacent to Century Bhavan, the registered office of the Company and another office building with an entry plaza on Century Mill's land at Worli, both meant for leasing, are under construction with a total constructed area of about thirteen lakh square feet including parking spaces etc. at a total cost of about Rs 625 crore. In view of various regulatory approvals required from time to time for construction of such buildings, a long monsoon in 2010 and shortage of sand, the completion is taking more time than expected. Efforts are being made to expedite completion which is now anticipated to take about a year. As regards the legal dispute with the existing lessor in respect of about 10 acres of leasehold land where a part of Century Mill was situated at Worli, the matter continues to be subjudice.

On paper it appears to be a good idea, but the gains are nullified by (1) the black money component which if borrowed from grey market costs around 25 per cent per annum and (2) migration of business. At least in Mumbai, businesses are leaving South Mumbai in droves and relocating in the suburbs.

Some of the alternative locations simply did not exist on the map even ten  years ago. For instance a prominent mutual fund has moved its call centre to Ghodbunder road which is practically inside the Borivli national park.