Mahindra, Billimoria To Develop MIHAN

Mahindra Lifespaces and B E Billimoria have won a bid to develop a 25 acre residential project at Multi-modal Internal Hub Airport (MIHAN) at Nagpur. The consortium will form a special purpose vehicle to implement the project with Mahindra Lifespaces holding 70% stake and 30% equity stake held by B E Billimoria.

The MIHAN project comprises of development of airport and aircraft maintenance area, special economic zone and support infrastructure. In the first phase, Mahindra Lifespaces will develop the 1.6 million square feet build up area over next 36 months.

The company reported total income of Rs 69.03 crore for the fourth quarter ended 31, March 08, up 83%, from Rs 37.80 crore during the corresponding period last year. Its total income for financial year 08 increased by 35% to Rs 219.96 crore compared to Rs 163.26 crore a year ago.

One Comment

  1. Posted May 12, 2008 at 12:38 am | Permalink

    If this will be develop at Nagpur that definately economically and infrastructully growth will happen to be hike at every level.

Post a Comment

You must be logged in to post a comment.