Vijay Shanthi plans Rs 1,000 cr residential project

Chennai-based Vijay Shanthi Builders plans to invest around Rs 1,000 crore over the next two years in various residential projects. These include Chennai's costliest premium apartments, where each flat would cost around Rs 8 crore.

Speaking to Business Standard, Suresh Jain, managing director, Vijay Shanthi Builders, said that the company had closed the fiscal ended March 31, 2010 with a profit of Rs 70 crore and set a target of Rs 150 crore for the current fiscal and Rs 500 crore over the next two years.

To support these plans, it has lined up projects worth Rs 900-1,000 crore. “We will take up projects across all categories and the price range would be Rs 9 lakh to Rs 8 crore,” he said.

The company has acquired 21 grounds at Kothari Road in Chennai to set up a premium apartments project. Each flat, with four bedrooms, would spread in 5300 sft and would cost around Rs 8 crore and total number of units will be 21. He said the costliest flat so far in Chennai was Rs 7.7 crore, bought by Pepsi's chairman and CEO Indra Nooyi.

“The premium project named Art will feature 21 luxury flats and will be based on Picasso’s cubist style,” said Kumar. The total cost of the project is around Rs 170 crore.

The company has signed a memorandum of understanding for a Rs 70-crore project at Kilpauk. “This will be for upper segment and price range would be around Rs 4-6 crore,” he said.

It has acquired two acres in Tambaram, 7.5 acres in Ambattur and 6.5 grounds in Pursavakkam for residential projects.

All the investments would be funded through debt and internal accruals, said Jain. “We will think about the IPO after reaching Rs 500 crore turnover, we are also open to private equity funding”.

For more information: Visit our website http://www.vijayshanthibuilders.com or call us at +91-44-44430000

Vijay Shanthi Builders Buys High End Homes

Vijay Shanthi Builders Ltd (VSBL) has acquired High End Homes Pvt. Ltd., a privately held company for around Rs 30 crore.

Speaking to Business Standard, Suresh Jain, managing director, VSBL, said the company had acquired High End Homes mainly for its land assets of 7.5 acre at Ambattur. “This will be 100 per cent acquisition for a consideration of around Rs 30 crore,” he said.

The company is planning to build a Rs 210-crore residential project on the land accruing from the acquisition. The total area floor space of the project would be around 6-7 lakh sft.

The Chennai-based real-estate developer has also identified three more residential projects, including a 70-villa project, each of which would cost Rs 3 crore. Located on the East Coast Road, the project would involve a total investment of around Rs 2,100 crore. It is also planning a premium project at Tiruvanmiyur with an investment of around Rs 50 crore and another residential project with a similar investment at Kilpauk.

The company is executing projects worth Rs 870 crore, some of which are Chennai's costliest premium apartments, with each flat costing around Rs 8 crore.

Jain added the company was also planning to re-launch its water business in the city. Currently, the company has a unit at Porur with a capacity of around 70,000 litre a day, which he said woud be increased to 1.5-2 lakh litre. “We don’t need major investment in the expansion, all we need is just additional machines,” said Jain.

For more information: Visit our website http://www.vijayshanthibuilders.com or call us at +91-44-44430000

Vijay Shanthi Builders Zooms 20% on New Project Launch

Vijay Shanthi Builders is locked at the 20% upper circuit at Rs 43.50 after the company has signed a Memorandum of Understanding (MoU) for a Rs 70 crore project at Kilpauk located in the heart of Chennai city.

"The real estate company plans to invest around Rs 1,000 crore over the next two years in various residential projects. These include Chennai's costliest premium apartments, where each flat would cost around Rs 8 crore," according to the report.

"The company has acquired two acres in Tambaram, 7.5 acres in Ambattur and 6.5 grounds in Pursavakkam for residential projects. All the investments would be funded through debt and internal accruals," the report suggest.

The trading volumes on the counter jumped almost thirteen-fold with 177,000 shares changing hands so far as compared to 14,000 shares traded daily in past two-weeks. There are pending orders for 53,861 shares on the BSE.

For more information: Visit our website http://www.vijayshanthibuilders.com or call us at +91-44-44430000

Vijay Shanthi Builders enters agreement for Rs 135 crore Chennai apartment project

Vijay Shanthi Builders Ltd has announced that the Company entered in to agreement for a new project valued about 135 Crores in Chennai.

The project is located on a 6.5-acre property in Madhavaram, in north Chennai. 300 two and three bed-room apartments up to 1,500 sq ft are likely to come up on this site.

According to news reports, Vijay Shanthi is also looking to develop a 400-apartment complex on a 10-acre site on the Kelambakkam - Vandalur road, off the OId Mahabalipuram Road, Chennai's IT corridor. Pricing would be in the Rs35-45 lakh range. The company is also planning a 400-apartment complex in Pattaraivakkam near Ambattur in West Chennai. Apartments here would be priced between Rs 25-35 lakh.

The company also is planning a 400-apartment project spread over a 10 acre area, off the Old Mahabalipuram Road to the south of Chennai. This would come up on the road linking Kelambakkam-Vandalur. This would be in the Rs 35-45 lakh segment. Through another project, Vijay Shanthi Builders would offer over 400 apartments to the west of Chennai at Pattaraivakkam, near Ambattur. This would be in the Rs 25-35 lakh segment, he said.

In the premium segment the company is planning apartments in Egmore priced around Rs 3 crore, and Rs 1.5 crore row-houses in Paiyur in south Chennai.