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Kushagra Software to erect 2.2 mn SFT residential complexs at Hyd
Posted by Srini Uppala | January 9, 2008 | 500 views
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Loading ...Kushagra Software along with its joint venture partner Concurrent Infrastructure has planned to develop 2.2 million SFT residential complexes at Hitech City, Hyderabad.
The project is expected to generate a revenue of Rs 10.41 billion and will cater to the needs of high-end home seekers and the company intends to target the Software Professionals located in Hyderabad.
Concurrent Infrastructure, the joint venture partner has initiated the discussions with the Pedigree Real Estate Funds and also the company is in the final stage of negotiation for striking a deal with a private equity real estate funds.
Recently, the board of directors of the company, on Dec. 21, 2007, approved the formation of joint venture (JV) with Concurrent Infrastructure, a Hyderabad based infrastructure provider, to partner in developing infrastructure projects.
The board also approved raising of Rs 150 million through preferential issuance of shares, of face value Rs 10, at a premium of Rs 15 for the purpose of participating in joint venture with Concurrent Infrastructure.
SOURCES:
My Iris
Topics: Business News, Real Estate |
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