Tag Archives: Project

Puravankara Projects board recommends 40% final dividend

May 8, 2008 – 3:46 am

The board of directors of Puravankara Projects has recommended a final dividend of forty percent, or two rupees share on equity share of five rupees each for the recent year. The payment is subject to the sanction of the shareholders at the yearly general meeting.

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Parsvnath Developers To Develop Hotel-Cum-Mall In Lucknow

May 2, 2008 – 7:14 am

New Delhi-based real estate developer, Parsvnath Developers, plans to develop a mixed-use project, Parsvnath Planet Plaza, in Lucknow. The entire project is expected to incur an approximate cost of Rs 120 crore. Read More »

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Indian Property Expo In Qatar

April 26, 2008 – 8:58 am

India property expo in Qatar is in the eyes of investors. More than thirty Indian builders are participating in this expo with their home projects. This expo is going on in Ramada plaza hotel.

The two-day expo was opened by Dr. Mohan Thomas, President of the Indian Community Benevolent Fund.

The expo will showcase projects in Cochin, Kannur, Thiruvananthapuram, Thalassery, Thrissur, Munnar, Jaipur, Delhi, Hyderabad, Mumbai, Pune, Bangalore and Chennai.

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Parsvnath sells 30 % stake of Mumbai project

April 17, 2008 – 6:33 am

MUMBAI - Real estate firm Parsvnath Developers Ltd has sold thirty percent stake in a Mumbai project to foreign funds for 1.86 billion rupees, the company said in an announcement on Thursday.
Shares in the company hit a high of 217.65 rupees on the news, and were trading 4.57 % higher at 216.30 rupees.
Parsvnath will sell 15 % stake each in the Kurla bus station redevelopment project to Euronext-listed Yatra Capital and Saffron India Real Estate Fund-I, both sponsored by Mauritius-based fund manager Saffron Asset Advisors.
Parsvnath said that Yatra and Saffron have picked up the stake at land-value basis. They will also proportionately fund all future development and construction activities for the project.
Future investment is estimated at two billion rupees and the project is to be completed in two and half years.
The deal will help unlock value of the property and help to begin a strong relationship with well-known foreign direct investment partners, Parsvnath said.
Jones Lang LaSalle Meghraj was the consultant for the deal. Foreign investors have rushed to invest in India’s growing real estate market for the last few years, attracted by simpler investment rules and rising property prices, which have gone up for the fifth straight year.

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ACI enters Indian real estate market

April 10, 2008 – 8:34 am

ACI Real Estate, an associate of German investment company Alternative Capital Invest GmbH, on 9th April entered the Indian real estate market through its franchisee, Hyderabad based Global Properties.

This marks the initial phase of ACI’s Indian franchisee network, which is being launched to serve the firm’s real estate portfolio in the UAE, at present valued at more than Dh10 billion.

The company has pronounced that in the upcoming months it will continue to seek prime franchisee operators to represent it across key Indian cities. Its portfolio includes residential, commercial, leisure and retail developments in prime locations in Dubai, Abu Dhabi, Ajman and other emerging cities across the UAE.

Talking on the potential of the franchisee set up, Sanjay Chimnani, joint managing director of ACI Real Estate, said: “The agreement with Global Properties marks our first coalition in India to serve the quickly rising investor market. In selecting our local franchisee, we found Global Properties who share our mission of doing business with clearness, purpose and truthfulness. We believe the ACI franchisee network in India will set a suitable gateway that links the astute Indian investor with ACI’s vast UAE property portfolio.”

ACI Real Estate’s projects in Dubai include premium branded properties such as the Sports Trilogy project comprising the Michael Schumacher, Boris Becker and Niki Lauda towers. Its developments also include the Dh6bn Marine Legends with the Ferretti Group.

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Provogue Sells 27 Percent Stake In Realty Unit To Fund

April 1, 2008 – 7:02 am

Apparel retailer Provogue India Ltd said on Tuesday it has sold 27 percent stake in a unit of real estate arm Prozone Enterprises Pvt Ltd for 4.57 billion rupees.
The stake has been acquired by Triangle India Real Estate Fund, promoted by Old Mutual Investment and ICS Realty.

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