Building relations

Stocks of Jaiprakash group companies slumped on expectations of the defeat of the incumbent Bahujan Samaj Party in the Assembly elections. But the infrastructure group, which openly advertised its links with Chief Minister Mayawati, is nothing if not realistic about its own prospects. A day before the results were announced, Jaypee Associates sent out letters to investors who have bought into their real estate projects along the Greater Noida Expressway, which they built following considerable controversy over land acquisition, assuring them of continuing service and all the facilities that had been promised. Given that previous letters were usually demands for more money, this "comfort letter" is certainly significant in the light of the election results.