The tactic has also been pursued by the realestate arm of US investment bank Morgan Stanley, which has bought into three small Indian developers, itching to accumulate land and build at a time when the realestate market is booming, so much so that many in the industry think a sharp correction is around the [...] And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. â??They need to juice up their returns,â? Krishna said of the willingness of investors to dabble in relatively high risk Indian land.
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