Real Estate Chandigarh

Residential and Commercial properties in Chandigarh..

23 August 2007

Vipul To Invest Rs. 2,000 Cr. For Real Estate Expansion In Tier-II Cities

The media reported that Vipul Ltd, the real estate company, plans to invest Rs. 2,000 crores over the next two years in expanding its operations to smaller cities in the country.

The company intends to expand into Nagpur, Bhubaneswar, Chandigrah, Ludhiana, Mohali and Dharuhera in Haryana. Presently, the company has residential and commercial projects only in Gurgaon, to the south of Delhi.

The Managing Director, Punit Beriwala, stated that the company is expanding into the smaller or tier-II real estate market, as the cost of acquiring land is very in the metros.

The company disclosed that the funds required for the expansion would be raised through a mix of debt and equity. The company also plans to form partnerships with private equity firms to raise money.

Going forward, Vipul is looking at offering equity to private equity players in special purpose vehicles, which will be set up for specific projects, Beriwala said, adding that the company would retain a majority stake in these units.

Source : Nasdaq
Add to: Icio Add to: Oneview Add to: Linkarena Add to: Digg Add to: Add to: Reddit Add to: Simpy Add to: StumbleUpon Add to: Slashdot Add to: Netscape Add to: Furl Add to: Yahoo Add to: Spurl Add to: Google Add to: Blinklist Add to: Blogmarks Add to: Diigo Add to: Technorati Add to: Newsvine Add to: Blinkbits Add to: Ma.Gnolia Add to: Smarking Add to: Netvouz Information


Post a Comment

Subscribe to Post Comments [Atom]

<< Home