TVS Motor's housing arm lines up 4-5 new housing projects
.jpg)
TVS Emerald, associate company of TVS Motor that is one of the largest two-wheeler companies in country, is planning to set up 4-5 new housing projects in and around Chennai.
The company which delivered its maiden project said it may raise Rs 200 crore from PE and other investors to support future projects.
TVS Emerald commenced its first project 'GreenHills' in June 2013 in Perungalathur, near Chennai.
R Chandramouli, president and CEO, TVS Emerald said that all 448 apartments have been sold with more than 410 customers have taken possession. The project was delivered in May 2015, ahead of schedule.
Delivery of 150 villas at Greeh Hills will start by March next year. Total investment by the customers would be Rs 250 crore in the entire project.
The housing arm of TVS Motor is set to take up its second project, which will come at Kolapakkam, near Tambaram. The project, which would be in the range of around Rs 275-300 crore, will have 352 apartments and also have villas. Price would range from Rs 25 lakh to Rs 1.25 crore and these include 2BHK, 3 BHK and villas.
The project will spread over in 18 acres, which was acquired by the company, and Phase 1 of GreenAcres is expected to be completed by 2017.
On way forward, he said, in the next three years the company would like to take atleast 4-5 projects and the focus will continue to be in the mid segment.
He added, the focus will continue to Chennai currently and going forward the company may look at other cities in the State. "This business is 2-3 cities centric and its not national business, so we will focus only few cities, which we know better."
Chandramouli said the company is open for joint venture (JVs). The JV partner will bring land. The company also said it is open for outside investors, including private equity funds, who can bring around Rs 200 crore.
"We are not in hurry, we will take it whenever we wanted to. If the money comes we can speed up the projects," said Chandramouli.
Other Latest News
.webp)
The BJP will benefit from the anti-incumbency against the Biju Janata Dal government, which is in power for an unbroken 24 years in Odisha, and a strong Modi wave to dethrone Naveen Patnaik from the helm of the state, senior saffron party leader Vijaypal Singh Tomar claimed.
In an interview with PTI, Tomar said, "There is anti-incumbency and people in Odisha have decided to change the BJD government this time. Similarly, there is a strong Modi wave across India, which has also been strongly felt in this state."
.webp)
A senior TDP leader has said the priority of the party is to "rebuild" Andhra Pradesh and take the state out of the debt trap by getting rid of the YSR Congress Party (YSRCP) government.
Telugu Desam Party (TDP) National Coordinator (Election) and ex-Rajya Sabha MP Kanakamedal Ravindra Kumar said Andhra Pradesh has suffered more losses during the Jagan Mohan Reddy government than during the creation of the two Telugu states in 2014 when resources were shared with Telangana.
.webp)
The Supreme Court on Friday issued a notice to the Election Commission of India (ECI) regarding a plea seeking to frame rules in case ‘None of the Above' (Nota) option gets the majority in elections.
Motivational speaker Shiv Khera has petitioned that the ECI treat Nota as a "fictional candidate" and to establish guidelines for conducting re-elections in constituencies where Nota garners a majority.
.webp)
The just-concluded follow-on public offer (FPO) of Vodafone Idea Limited (VIL) has not only brought relief to the struggling telecom operator but also to the three investment banks that managed the Rs 18,000 crore share sale. According to the final prospectus filed by the Mumbai-based firm, it has paid Rs 287 crore, 1.6 per cent of the issue size, as book running lead manager (BRLM) fees.
This, according to PRIME Database, is the second-highest BRLM fee paid for a domestic FPO or an initial public offering (IPO).
.webp)
India’s largest non-banking financial company Shriram Finance on Friday reported a 57 per cent year-on-year (Y-o-Y) jump in its consolidated net profit for the fourth quarter of 2023-24.
In Q4 of FY24, the consolidated net profit of Shriram Finance stood at Rs 2,021.28 crore as against Rs 1,288.18 crore recorded in the same period of the previous year, due to rise in income and improved asset quality.
.webp)
.webp)
.webp)
.webp)
.webp)
