Dear Punchinello,
It is the pool of 35,000 qualified retirement asset accounts (previous year numbers 27,635).
Indians are big fans of Bullion - Gold & Silver.
Until 2008 we were actually into tax planning & preparation and in fact in 2008 we were preparing tax returns for 167,000 Indian Migrant software engineers - 55% of the migrant indian population were our clients. We were outsourcing tax returns to our office in India and providing services across the United States - The Lehman Brother effect was deep on us as IRS turned sensitive on tax data transmission. This helped us focus on Self Directed Retirement Assets and our move into Retirement Asset Accounts Globally with gold as qualifying asset worked extremely well for us in gaining trust...
The Metal had a sweet run from $250 in the early 2000s to $1884 in 2011 before fall off. For taxpayers, purchase of metal through SDIRA helped them save or differ taxes by 20-35% and our simple message to them was Gold never had a fall off beyond this range. And this proved correct. Even the great fall on sep 6 2011 - Gold went down from 1,884 to 1,450 in 3-4 sessions but that was still not more than 20-25% effect.. Since then we encouraged taxpayers to focus buying 10g monthly instead of 100g annual per IRA account and this systematically balanced the risk of price fluctuations. Over the last 18 months Gold took a north direction it is helping us unlock the surplus Net Asset Value into other assets now. Indians are big fans of gold and real estate - and in Real Estate - Agriculture & Residential, Education, Healthcare, infrastructure and logistics. India's nerve growth (long term) is centered on this. Our tax customer base in not big time into office commercial assets and this is not our focus hence. We are into Airlines for a specific reason. We are attempting to conglomerate our efforts in aviation as that brings 100 million passenger customers into our databank and this will be a huge digitization attempt from Interups into parallel consumerism.
Currently we are chewing more than what we deserve but we reflect American Entrepreneurism... Business is solid for Interups. We could have tested our waters in early march but pandemic delayed. However, now most of the assets are lined up for closure.
What is our strength?
we base 25% of any project requirement out of these qualified assets (we cannot place more than this per Department of Labor guidelines) and match another 25% from certain elite of the elite strategic investor groups we have across the globe. Balance 50% we attempt filling out of Indian Waters. The anchored 25% is giving us solid base to penetrate deeply valued assets.
Like Lavasa we have bargained the 7,800+ debt for 1,440 Cr ($200 Million) which is 1/5th of original spend. A little additional spend (we budgeted 960 Cr - $125 Million) will bring back the glory in the asset...and we are converting the whole city as education and training campus...
We have inked 140,000 acres of rice farming -india prohibits Foreign Investment in buying agricultural lands but not the crops... Per each kilo of rice we have Rs 1 final margin connecting thousands of investors with farmers across. Each acre produces 70 bags of rice per year and this means we make i.e. $70 per year per Acre projecting $9.8 million net cash earnings for ITUP on just the trial run land. And for the investor dividends are rice / conversion of rice into cash... An extended spread, we signed 100,000 acres of palm plantations for 2.47 dollars / hectare in Guyana from the Government. And the comparable lease rentals are $75 per hectare in Malaysia and $50 in Africa Even just the leasing conversion will yield multiple times earnings for the investors and we get a piece of dollar on every palm planted...
....there is lot to write but i end here...
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