29th June 2016, Bengaluru | Timing - 10am to 5.30pm
Note: Every effort will be made to conduct this conference according to the agenda and dates posted. However unlikely, unforeseen circumstances may result in agenda changes.
Agenda for 29th June Real Estate Outlook 2016
10:00 - 10:45 Impact of IndAS on Real Estate Companies
Speaker: Alok Saraf - Director, Grant Thornton Advisory
Entities in the real estate sector currently prepare financial statements based on the Accounting Standards (AS) notified by the Ministry of Corporate Affairs (MCA). Additionally, they also rely on certain Guidance Notes issued by the Institute of Chartered Accountants of India (ICAI) for transactions specific to the industry. In February 2015, the MCA notified the roadmap for implementation of IFRS converged Indian Accounting Standards (Ind AS). Few industries are likely to have significant impact in their financial accounting and reporting. Amongst these, real estate companies are expected to see significant changes in their financial reporting. This presentation will focus on the few key items that are potentially expected to have a major impact on the financial statements of real estate companies.
About Speaker: Alok is an Assurance Director with the Bengaluru office. Alok has over ten years experience working with a wide range of businesses, including both publicly listed and owner-managed companies servicing clients in the areas of India GAAP, US GAAP and IFRS advisory. Alok is also the south champion for the Real estate SME. Alok has serviced clients operating in a variety of sectors, including IT/ITeS, construction, hospitality, manufacturing and financial services.
Speaker: Alok Saraf - Director, Grant Thornton Advisory
Entities in the real estate sector currently prepare financial statements based on the Accounting Standards (AS) notified by the Ministry of Corporate Affairs (MCA). Additionally, they also rely on certain Guidance Notes issued by the Institute of Chartered Accountants of India (ICAI) for transactions specific to the industry. In February 2015, the MCA notified the roadmap for implementation of IFRS converged Indian Accounting Standards (Ind AS). Few industries are likely to have significant impact in their financial accounting and reporting. Amongst these, real estate companies are expected to see significant changes in their financial reporting. This presentation will focus on the few key items that are potentially expected to have a major impact on the financial statements of real estate companies.
About Speaker: Alok is an Assurance Director with the Bengaluru office. Alok has over ten years experience working with a wide range of businesses, including both publicly listed and owner-managed companies servicing clients in the areas of India GAAP, US GAAP and IFRS advisory. Alok is also the south champion for the Real estate SME. Alok has serviced clients operating in a variety of sectors, including IT/ITeS, construction, hospitality, manufacturing and financial services.
10:45 - 11:30 Bengaluru Office Real Estate Market Overview & What do Investors look for in Office Buildings?
Speaker: Amit Oberoi - National Director, Colliers International
Over 30% of the office space absorbed in the major metros of India takes place in Bengaluru. The session proposes to provide an analysis of the Bengaluru office real estate market and forecast future trends. It will also cover key points of what institutional investors look for when acquiring an office building.
About Speaker: Amit is responsible for the “Valuation and Advisory Services”; and “Research Services”. With over 14 years of experience as a real estate consultant, research analyst and an architect; he has worked on projects in Bangladesh, Sri Lanka, Latin America and the USA. Amit is well versed in all major real estate sectors including residential, commercial, industrial, hotel & leisure and retail. He is a regular speaker at media and industry events. He has taught at the Indian School of Business, Hyderabad as a guest instructor.
Speaker: Amit Oberoi - National Director, Colliers International
Over 30% of the office space absorbed in the major metros of India takes place in Bengaluru. The session proposes to provide an analysis of the Bengaluru office real estate market and forecast future trends. It will also cover key points of what institutional investors look for when acquiring an office building.
About Speaker: Amit is responsible for the “Valuation and Advisory Services”; and “Research Services”. With over 14 years of experience as a real estate consultant, research analyst and an architect; he has worked on projects in Bangladesh, Sri Lanka, Latin America and the USA. Amit is well versed in all major real estate sectors including residential, commercial, industrial, hotel & leisure and retail. He is a regular speaker at media and industry events. He has taught at the Indian School of Business, Hyderabad as a guest instructor.
11:30 - 12:00 Coffee Break
12:00 - 13:00 Impact of RERA Act 2016 on Property Markets
Speaker: Sandeep Jhunjhunwala - Associate Director, BMR Advisors
India’s Real Estate sector is now on the cusp of a major refurbishment with the newly enacted, Real Estate (Regulation and Development) Act, 2016. The Act, which is in the nascent stage of implementation, seems like an angel legislation aimed at bettering the flow of finances through financial institutions and FDI into the RE sector. The session is aimed to cover pertinent implications and nuances of the new legislation that it holds for the RE sector. Firm enforcement of project delivery timelines, demonstrable construction quality and assurance of legal clearances would go a long way in boosting the consumer confidence and making the industry more organized and mature.
About Speaker: Sandeep is Associate Director with BMR Advisors and is based in Bangalore. He has Previously worked with Ernst & Young and KPMG. With a specialisation in corporate international tax, he has over 8 years of experience in advising multinationals, Indian business houses and private equity funds on a wide range of matters relating to FDI policy, business re-organizations, mergers and acquisitions, cross-border tax structuring, tax controversies, regulatory policies, transfer pricing and a host of financial, business and fiscal issues across a range of sectors. Has been a speaker at various professional forums, workshops and seminars and made thought leadership contributions to various domestic and international publications.
Speaker: Sandeep Jhunjhunwala - Associate Director, BMR Advisors
India’s Real Estate sector is now on the cusp of a major refurbishment with the newly enacted, Real Estate (Regulation and Development) Act, 2016. The Act, which is in the nascent stage of implementation, seems like an angel legislation aimed at bettering the flow of finances through financial institutions and FDI into the RE sector. The session is aimed to cover pertinent implications and nuances of the new legislation that it holds for the RE sector. Firm enforcement of project delivery timelines, demonstrable construction quality and assurance of legal clearances would go a long way in boosting the consumer confidence and making the industry more organized and mature.
About Speaker: Sandeep is Associate Director with BMR Advisors and is based in Bangalore. He has Previously worked with Ernst & Young and KPMG. With a specialisation in corporate international tax, he has over 8 years of experience in advising multinationals, Indian business houses and private equity funds on a wide range of matters relating to FDI policy, business re-organizations, mergers and acquisitions, cross-border tax structuring, tax controversies, regulatory policies, transfer pricing and a host of financial, business and fiscal issues across a range of sectors. Has been a speaker at various professional forums, workshops and seminars and made thought leadership contributions to various domestic and international publications.
13:00 - 14:00 Networking Lunch
14:00 - 15:00 REITs & InvITs - Have they Finally Arrived
Speaker: Amithraj AN - Director Tax, PwC India
REITs and Infrastructure Investment Trust (InvITs) are attracting the right amount of interest, given their potential to raise funds, free up capital for developers and create an alternative asset class for the investors looking for stable yields. With the exemption from dividend distribution tax finally being extended in the Union Budget 2016, most of the issues surrounding REITs and InvITs have been ironed out. SEBI has already come out with detailed regulations to govern the design and operation of REITs and InvITs. REITs and InvITs are extended with special tax benefits resulting in higher high yields for developers and investors. The session would cover the regulatory and tax framework governing REITs and InvITs, advantages and practical aspects surrounding REITs and InvITs.
About Speaker: Amith is a Director in PwC Tax & Regulatory Services (M&A) Team, based in Bangalore, India. Amith has over 11 years of experience restructuring, amalgamations, demergers, valuation, capital reduction, repatriation and advisory assignments. Amith advises number of listed companies in relation to corporate restructuring and tax matters. He has also been part of numerous PE investment transactions. Amith has led advisory assignments ranging from corporate restructuring, transaction support, investment structuring, exit planning, jurisdictional analysis, acquisition structuring and advising on various tax and regulatory matters. Amith is a Commerce Graduate, Law Graduate, Chartered Management Accountant (UK) and a Chartered Accountant. Amith is a Rank holder in CA (Final and Inter) with Gold Medal and also a Rank holder in Graduation exams
Speaker: Amithraj AN - Director Tax, PwC India
REITs and Infrastructure Investment Trust (InvITs) are attracting the right amount of interest, given their potential to raise funds, free up capital for developers and create an alternative asset class for the investors looking for stable yields. With the exemption from dividend distribution tax finally being extended in the Union Budget 2016, most of the issues surrounding REITs and InvITs have been ironed out. SEBI has already come out with detailed regulations to govern the design and operation of REITs and InvITs. REITs and InvITs are extended with special tax benefits resulting in higher high yields for developers and investors. The session would cover the regulatory and tax framework governing REITs and InvITs, advantages and practical aspects surrounding REITs and InvITs.
About Speaker: Amith is a Director in PwC Tax & Regulatory Services (M&A) Team, based in Bangalore, India. Amith has over 11 years of experience restructuring, amalgamations, demergers, valuation, capital reduction, repatriation and advisory assignments. Amith advises number of listed companies in relation to corporate restructuring and tax matters. He has also been part of numerous PE investment transactions. Amith has led advisory assignments ranging from corporate restructuring, transaction support, investment structuring, exit planning, jurisdictional analysis, acquisition structuring and advising on various tax and regulatory matters. Amith is a Commerce Graduate, Law Graduate, Chartered Management Accountant (UK) and a Chartered Accountant. Amith is a Rank holder in CA (Final and Inter) with Gold Medal and also a Rank holder in Graduation exams
15:00 - 15:45 Salient Aspects of the GST Impact on Real Estate Sector
Speaker: Raman NV - Director, Grant Thronton India LLP
The industry is in the cusp of increased regulations, with bills such as the Real Estate (Regulation and Development) Bill in force now. GST is another development that will have a significant impact on this sector. The foremost thought in everyone’s mind is whether GST is indeed the solution to an industry riddled with complex structures and issues.
About Speaker: Raman completed Masters in Law from National University of Singapore, holds a Bachelor’s degree in Law from Bangalore University. His experience includes all facets of Central Excise, Service Tax, Customs and VAT including implications of cross border tax. He has hands-on experience in availing exemption emerging out of Treaty arrangements with other countries. Raman has expertise in Special Economic Zones & Technology Parks/Export Oriented Undertakings related matters right from Advisory to implementation of setting-up. --Raman has also handled various areas of work related to sectors such as Telecom, Energy, Pharmaceuticals, Entertainment, supply chain logistics, Manufacturing and Services by providing innovative but rigorous tax planning ideas.
Speaker: Raman NV - Director, Grant Thronton India LLP
The industry is in the cusp of increased regulations, with bills such as the Real Estate (Regulation and Development) Bill in force now. GST is another development that will have a significant impact on this sector. The foremost thought in everyone’s mind is whether GST is indeed the solution to an industry riddled with complex structures and issues.
About Speaker: Raman completed Masters in Law from National University of Singapore, holds a Bachelor’s degree in Law from Bangalore University. His experience includes all facets of Central Excise, Service Tax, Customs and VAT including implications of cross border tax. He has hands-on experience in availing exemption emerging out of Treaty arrangements with other countries. Raman has expertise in Special Economic Zones & Technology Parks/Export Oriented Undertakings related matters right from Advisory to implementation of setting-up. --Raman has also handled various areas of work related to sectors such as Telecom, Energy, Pharmaceuticals, Entertainment, supply chain logistics, Manufacturing and Services by providing innovative but rigorous tax planning ideas.
15:45 - 16:15 Coffee Break
16:15 - 17:00 Crossroads of Real Estate Funding: Review of Past and Way Forward for the Sector
Speaker: Mahesh Raman - Associate Director, KPMG India
Real estate is amongst the largest employers in India and contributes significantly to the economy's GDP. The sector in general is very important to the growth of a nation and is an important measure to calibrate the economy's performance. From the underlying emotional value of an own-house to a substantial portion of live savings parked in a home, real estate appeals to all aspects of people across the socio-economic spectrum and hence a vital cog. Small ripples in the sector create large fractures to the economy and hence funding the sector becomes the atmost crucial aspect in the development cycle. Session aims to provide an insight on the various funding options available to the developer and the colour of money suitable for various stages of the development cycle.
About Speaker: Mahesh is an Associate Director with KPMG and has more than 10 years of experience in investment banking, with a focus on fund raising for real estate and hospitality clients. He is based out of Bangalore and focuses on the South real estate market for fund raise/strategic investments. Mahesh has experience on working on large real estate platform/ entity level deals, including a US$ 400 million investment in a Bangalore based developer by a large fund based out of the US and a US$ 150 million investment into an NCR developer by a UK based fund house. Prior to Joining KPMG, he has worked with EY in the Investment Banking team. Since the real estate sector opened up to FDI in 2005, Mahesh has been part of the real estate focused team helping Indian corporates raise private equity capital from foreign and domestic investors.
Speaker: Mahesh Raman - Associate Director, KPMG India
Real estate is amongst the largest employers in India and contributes significantly to the economy's GDP. The sector in general is very important to the growth of a nation and is an important measure to calibrate the economy's performance. From the underlying emotional value of an own-house to a substantial portion of live savings parked in a home, real estate appeals to all aspects of people across the socio-economic spectrum and hence a vital cog. Small ripples in the sector create large fractures to the economy and hence funding the sector becomes the atmost crucial aspect in the development cycle. Session aims to provide an insight on the various funding options available to the developer and the colour of money suitable for various stages of the development cycle.
About Speaker: Mahesh is an Associate Director with KPMG and has more than 10 years of experience in investment banking, with a focus on fund raising for real estate and hospitality clients. He is based out of Bangalore and focuses on the South real estate market for fund raise/strategic investments. Mahesh has experience on working on large real estate platform/ entity level deals, including a US$ 400 million investment in a Bangalore based developer by a large fund based out of the US and a US$ 150 million investment into an NCR developer by a UK based fund house. Prior to Joining KPMG, he has worked with EY in the Investment Banking team. Since the real estate sector opened up to FDI in 2005, Mahesh has been part of the real estate focused team helping Indian corporates raise private equity capital from foreign and domestic investors.
