While surfing today, I came across this:
http://www.myiris.com/newsCentre/newsPopup.php?fileR=20071106075455130&dir=2007/11/06&secID=livenews
Does it indicate the begining of the end of Real-Estate woes in India? ICICI is a shark, and for a blood-thirsty shark to give away its' meal like this sounds alarming. I personally feel ICICI may have lot more percent of NPAs, and I would definately like to track ICICI's 50% loan portfolio involving housing sector financing.
Its' not surprise that Arcil has a CEO from ICICI, who was involved with recovering "stressed loans" to the tune of thousands of crores.
With the loan recovery mechanics of ICICI making prime-time news, its' probably the begining of something big from ICICI.
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