NEW DELHI, Apr 7:

Housing sales fell 29 percent during January-Marchperiod across seven majorcities to 27,451 units while thevalue of unsold inventoriesswelled to Rs 3.65 lakh crore asbuyers postponed their buyingdecisions amid COVID-19 out-break, according to JLL.

The sale of residential unitsdecreased by 29 per cent to

27,451 units in the Q1 of 2020calendar year as against 38,628units in the year-ago period.

"The economic slowdownaggravated by the ongoinghealth crisis is manifesting itselfin the form of a hit to sales withbuyers postponing their purchasedecisions," JLL India said in itsquarterly report.

This was the second largest dipin residential sales in the last fiveyears, after Q1 2017, when themarket witnessed a 37 per cent fallin sales due to demonetisation, itadded. The sales declined in allthe seven major cities.

Bengaluru saw the maxi-mum fall of 52 per cent at4,186 units.

Housing sales in Mumbaideclined 19 per cent to 6,857units, while Chennai recordedan 8 per cent fall at 2,453 units.

Delhi-NCR and Punerecorded 18 per cent dip at5,941 units and 3,728 units,respectively.

Residential sales in Kolkatadropped 35 per cent to 1,259units while 41 per cent fall was

seen in Hyderabad at 3,027units.

The first quarter of 2020witnessed an increase in unsoldinventory as launches outpacedsales by a significant margin.

New launches were up by 3per cent at 40,574 units.

Unsold inventory increasedfrom 4,42,228 units in Q4 2019to 4,55,351 units in Q1 2020.Moreover, Mumbai surpassedDelhi-NCR to become the mar-

ket with the max-imum quantumas well as valueof unsold inven-tory.

Across thetop seven cities,developers aresitting on anunsold inventoryworth Rs3,65,100 crore atthe end of March2020. Mumbaihas unsold stock

of Rs 1,37,900 crore, whileNCR has 81,300 crore andBengaluru 64,000 crore.

The COVID-19 pandemicis expected to weaken the GDPgrowth, which is seen fallingbelow 5 per cent in FY 19-20and potentially reaching 2008-09 levels in FY 20-21, saidRamesh Nair, CEO & CountryHead, JLL India.

"However, the residentialreal estate market appears to beat an advantageous positiontoday as compared to the glob-al financial crisis, led by aseries of structural reforms bythe government in the pastfive-to-six years," Nair said.

"When the COVID-19 sce-nario stabilises, factors such asbetter-priced deals, enhancedthe financial health of banksand greater demand from endusers will aid in improvingbuyer sentiment. Sales areexpected to regain some trac-tion towards the end of 2020supported by the festive seasonduring that period," he added.(PTI)

Zydus Cadila gets USFDA nod to

market generic schizophrenia drugNEW DELHI, Apr 7:

Drug firm ZydusCadila on Tuesday saidit has received final nodfrom the US health reg-ulator to market genericPerphenazine tabletsused for treatment ofschizophrenia.

The company hasreceived final approvalfrom the United States

Food and Drug Administration (USFDA) to market Perphenazinetablets USP in the strengths of 2 mg, 4 mg, 8 mg and 16 mg, ZydusCadila said in a statement.

"The drug will be manufactured at the group's formulationmanufacturing facility at Baddi, it added.

The tablets are indicated for the treatment of schizophrenia andfor the control of severe nausea and vomiting in adults, ZydusCadila said.

The group now has 284 approvals and has so far filed over 386abbreviated new drug applications (ANDAs) since the commence-ment of its filing process, it added.

Shares of Cadila Healthcare, the listed entity of the group, weretrading at Rs 316.40 per scrip on the BSE, up 15.03 per cent overprevious close. (PTI)

Rly sets target to make

1000 PPE per dayNEW DELHI, Apr 7:

Railways, which has got a nod from the DRDO for making per-sonal protection equipment (PPEs), has now set a target of manu-facturing around 1000 of them in its 17 workshops every day.

The PPE overall will offer much needed protection to railwaydoctors and paramedics working on the front line of COVID careat hospitals of Railways.

"Facilities are being geared up in Railways to make up to 1000such protective over-all for railway doc-tors and paramedicsevery day. Around17 workshops wouldbe striving to con-tribute to this exer-

cise," the national transporter said in a statement.Railways is also considering to supply 50 per cent of the inno-

vated PPE garment to other medical professionals of the country.Material for all the overalls is being procured centrally at

Jagadhari which is located near many big textile industries inPunjab.

It has been decided to source raw material from aYamunanagar-based vendor approved by the Textiles ministry.

"In the days to come, the production facilities can be furtherramped up. The development of this overall and innovation byIndian Railways is being welcomed by other Government agenciesengaged in the war against COVID.

"Technical specifications of these PPEs are now ready, andmaterial suppliers are in place. Now the production can start inright earnest. This development is big boost to equip our doctorsand paramedics on the front line of this battle against COVID-19,"it said.

The Government estimates that the country's medical fraternityand other workers will require some 1.5 crore coveralls by June.

These suits are incinerated after each use and are the most crit-ical component in the Personal Protective Equipment kit which isin significant shortage in India. (PTI)

MUMBAI, Apr 7:

State-run Bank of Baroda onTuesday said it will providefinancial assistance of up to Rs1 lakh to women self-helpgroups (SHGs) to help meettheir funding demand amid theCOVID-19 crisis.

The bank has alsoannounced an emergency creditline for farmers producer organ-isations (FPO/FPC) to deal withany liquidity mismatches.

Under the AdditionalAssurance to SHGs-COVID19scheme, the bank will providesupport to existing SHGs' facili-ties in the form of cash credit oroverdraft or term loans.

"The minimum loan amountis Rs 30,000 per SHG and max-imum loan amount grantedunder the scheme is Rs one lakhper member, repayable in 24months," the bank said in astatement.

The repayment for thisscheme would be on a monthlyor quarterly basis and the mora-torium will be for a period of sixmonths from the date of dis-bursement.

For FPO/FPC, a limit of 10per cent of the combined limitswill be sanctioned with maxi-mum amount of Rs 5 lakh withthe tenor of 36 months. Themoratorium period is for a max-imum of six months.

For borrowers in dairy andfisheries segment, the lenderwill provide instant credit tofarming community to meetemergent funds requirement forfarm maintenance and otherfarm related activities due toCOVID-19.

"The limit stands at 10 percent of other agriculture sanc-tion limit (i.E. Minimum Rs

10,000) and maximum Rs50,000 for existing regularinvestment credit agricultureaccounts," it said.

The lender will also give an

instant credit to crop loan bor-

rowers for requirement in agri-

culture and related domestic

purposes.The loan limit under the

scheme is 10 per cent of KCCsanction limit -- minimum Rs10,000 and maximum Rs50,000 -- for existing regularKCC holders. (PTI)

NEW DELHI, Apr 7:

The Government onTuesday said it is committed tomaintaining smooth operationsacross its shipping ports and hasinitiated a number of steps,including waiving rentals andthermal scanning of 46,000crew and passengers, in thewake of COVID-19 outbreak.

Total traffic handling atmajor ports has also increasedmarginally by 0.82 per cent to705 million tonnes (MT) duringthe last fiscal.

"In the wake of unprecedent-ed crisis due to Covid-19, theMinistry of Shipping has beentaking pro-active steps to ensuresmooth running of shipping andport operations, ease the hard-ships, and at the same time, fol-lowing the restrictions imposedduring the lockdown," theMinistry of Shipping said in astatement.

A total of 46,202 passengershave been scanned betweenJanuary 27 and February 4using thermal scanners at Indianports, including 39,225 peoplescanned at major ports.

Elaborating the steps takento ensure smooth shipping oper-ations, the government said ithas asked each major port toensure that no penalties, demur-rage, charges, fee, rentals arelevied on any port user (traders,shipping lines, concessionaires,licensees etc.) for any delay inberthing or loading/unloadingoperations or evacuation of

cargo caused by the reasonsattributable to lockdown meas-ures from March 22 to April 14,2020.

It said each major port shallexempt or remit demurrage,ground rent over and above thefree period, penalanchorage/berth hire chargesand any other performance-related penalties that may belevied on port-related activitiesincluding minimum perform-ance guarantee, wherever appli-cable.

Besides for existing andoperational PPP projects, themajor ports can permit waiverof all penal consequences on acase-to-case basis along withdeferment of certain perform-ance obligations. On prepared-ness of hospitals across themajor port trusts, it said thesehave been supplied with the per-sonal protective equipment(PPEs) and the arrangement of

sufficient staff round the clockhas been made.

"In some port hospitals, apart of the hospital can be ear-marked for Covid-19 with sepa-rate entry and exit," it said.

Ports and PSUs under theMinistry of Shipping have con-tributed more than Rs 52 crorefrom the CSR funds towardsPM CARES Fund.

Besides, employees of ports,PSUs and other offices of theMinistry of Shipping have con-tributed over Rs 7 crore fromtheir salaries towards PMCARES Fund.

About EXIM trade, thestatement said in order to ensurethat the EXIM trade does notsuffer due to certain unavoid-able delays in loading and dis-charge of cargo due to the lock-down, the shipping lines havebeen advised to not impose anycontainer detention charge onexport and import shipments ofcontainerised cargo till April 14.

The number of vessels han-dled by ports during 2019-20was around 20,837 against20,853 vessels in 2018-19.(PTI)

DAILY EXCELSIOR, JAMMU WEDNESDAY, APRIL 8, 2020 (PAGE 9)

Vodafone-Idea users face

connectivity issuesNEW DELHI, Apr 7:

Several subscribers of Vodafone Idea on Tuesday reported poorcall and data connectivity issues.

However, Vodafone Idea on twitter said the issue has now beenresolved.

According to the Down Detector, which tracks network outageof apps and mobile networks, there was a sudden spike in com-plaints around 11.20 am from various locations.

More thanhalf the com-plaints wereabout dataservices onlyand some sub-scribers evenreported com-plete networkoutage in theirarea.

Most of the complaints were from Delhi, Mumbai, Bengaluru,Chennai, Jaipur, Pune, Ernakulam and Gurugram.

The telecom company however said the issue has beenresolved.

"Hi, We would like to inform you that there was a temporaryissue which has been resolved. If you're still facing the issue,request you to please restart your handset and check," it said in atweet.

According to industry bodies, there has been around 30 per centsurge in data usage due to work-from-home amid the lockdownwhile officials in DoT said the rise has been about 10-15 per cent.(PTI)

Ensuring smooth shipping

operations: Govt

MRPL reduces production

of diesel, petrolMANGALURU, Apr 7:

With the number of vehicles on roads falling sharply in thelockdown period due to the coronavirus spread, the public sectorMangalore Refinery and Petrochemicals Limited (MRPL) has cutdown production of petrol and diesel by half.

The demand for diesel and petrol had fallen sharply after thelockdown was announced.

MRPL normally produces 2,500 tonnes of LPG, 20,000 tonnesof diesel and 2,500 tonnes of petrol.

The LPG productionhas now been cut by 25per cent while there hasbeen a 50 per cent cut inpetrol and diesel produc-tion, the company said ina press release here.

Most of the employeesof MRPL have been given

leave while workers needed for the production unit have beentaken on emergency basis.

Out of 6,500 employees, only 800 are working now.The oil produced at MRPL is being distributed all over the state

through Indian Oil, HPCL, BPCL and Shell.In normal courses, MRPL shuts one unit during April for main-

tenance.At that time, it needs 4,000 workers.As bringing together so many workers for the purpose is cum-

bersome, the company plans to postpone the annual shutdown thisyear.

MRPL, which is the only processing centre for crude oil inKarnataka, has ensured that the state and a few southern parts ofIndia did not face hardships on account of petroleum shortage bykeeping up its supply continuously.

MRPL general manager (corporate communication), RudolphNoronha said the company has brought down its production ofpetrol, LPG and diesel as the demand now is less.

Only workers who are needed for emergencies are now attend-ing work. (PTI)

Bank of Baroda to provide support

to women SHGs, FPOs

Housing sales drop 29 pc

NEW DELHI, Apr 7:

FMCG major BritanniaIndustries on Tuesday said it haspartnered with Dunzo, an on-demand e-commerce platform,to deliver its range of productsduring the nationwide lock-down.

Customers can get Britanniaproducts at their doorstepsthrough the Dunzo app in lessthan an hour of ordering fromthe 'Britannia Essentials' store.

The first store in Bengaluruwill be operational fromTuesday onwards and would beextended to other cities such asMumbai, Pune, Delhi, Gurgaon,Jaipur, Hyderabad and Chennai,a joint statement said.

"During this unprecedentedtime, it is critical for us to main-tain a continuous supply of ourproducts which are daily staplesin millions of Indian house-holds. With a significant rise indemand for at-home delivery,we are happy to leverageDunzo's innovative and mostadvanced technology platform,to enable seamless delivery ofproducts every day," BritanniaIndustries Managing Director

Varun Berry said.Britannia's essentials prod-

ucts such as biscuits, cakes,rusk, croissants, milkshakes,wafers, ghee and dairy whitenerwill be sourced by Dunzo fromits distribution centers.

"Across the country, there isa demand for essentials and inthese extraordinary times, com-panies need to rise to the occa-sion. We at Dunzo are commit-ted to helping our cities fight theCOVID-19 pandemic," DunzoCEO and Co-Founder KabeerBiswas said.

Earlier two FMCG makers -ITC Foods and Marico - hadannounced such partnerships toget their products delivered atconsumer's doorsteps by usingthe service of app-based aggre-gators.

ITC Foods has announcedpartnership with Dominio'sPizaa and launched "Domino'sEssentials" to deliver groceriesand packaged foods to cus-tomers during the lockdownperiod.

Marico has partnered onlinefood ordering platform Swiggyand Zomato to deliver essentialfood items to consumers. (PTI)

Britannia partners with Dunzo for home

delivery of essentials food items

Delhi Airport handles over 50

evacuation flights in past 14 daysNEW DELHI, Apr 7:

The AAI-GMR group joint venture-run Delhi Airport onTuesday said it has handled over 50 evacuation flights, transport-ing over 10,000 stranded foreign nationals to their respectivecountries, till date since the implementation of 21-days lockdown.

Since the suspension of all commercial passenger aircraft oper-ations, Delhi Airport has been operational 24x7 despite suspensionof commercial operations, due to the 21-day lockdown followingthe coronavirus outbreak, said Delhi International Airport Ltd(DIAL) CEO, Videh Kumar Jaipuriar said.

In the last 14 days, the airport has remained functional to handlecargo and evacuation flights, operated by countries like Japan,Norway, Germany, Afghanistan, Poland, Russia and France to repa-triate their nationals stranded in India due to lockdown, DIAL said.

"At present, Delhi Airport is handling cargo and evacuationflights, operated by various countries. We have handled around 56evacuation flights and helped over 10,600 stranded foreign nation-als in reaching their homes in the last 14 days since the lockdownhas come into force," he stated. (PTI)