You can get a cheap china make for Rs500 or more depending on the model.. I bought one 6 months back and its working fine. It gives Current Speed, Distance, Time cycled, Average Speed, Total Distance, Max Speed it also has Mode where it keeps cycling the above details ..
I bought mine from a cycle store on Malad Link road, between Inorbit and Bhikaji Sweets.. I think the name of the shop is Bharadwaj cycles..
Mind you there is no warranty or guarantee for this piece though as for any product made in china.. but i turned out good for me..
Where did you get yours which has pulse rate - heart beat- callories burn,etc for Rs.500 ???