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New Delhi realty co to enter TN
Our Bureau
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Close to tying up 4-5 property deals
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Chennai
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April 6
The New Delhi-based Parsvnath Developers Ltd, a real estate company that has a presence in nine States, has plans to enter Tamil Nadu.
Mr Pradeep Jain, Chairman, Parsvnath Developers Ltd, said the company had been scouting for property in the city and was close to clinching 4-5 property deals.
He said the company has 82 projects, including 28 projects of group housing, 17 integrated townships, 3 information technology (IT) parks, 28 shopping malls and commercial centres and 6 hotels and resorts.
The company has a land bank of over 2,500 acres to be developed with active projects across the country worth Rs 12,000 crore.
Public issue
Parsvnath Developers plans to tap the market to fund its further expansion. The issue size is yet to be finalised, Mr Jain said.
He said the construction industry is yet to see real growth. Quoting estimates, he said the IT and business process outsourcing sector alone will need 42 million sq ft year till 2008.
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