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

Setting standards in living space

Apioneer in creating wellplanned life style apartments in different parts of Chennai, Vijay Shanthi Builders is making waves in the realm of construction industry for well over three decades by giving affordable houses to all sections of people.

Of course, the houses built by the company are majestic, well designed, spacious and comfortable, all for giving a relaxed environment for an easy and comfortable living.

Every project of Vijay Shanthi Builders provides great standards of sophistication and style which the connoisseurs of good living will appreciate nothing but the best can be expected from these architectural marvels created one after the other in a span of time.

Suresh Jain, Managing Director, Vijay Shanthi Builders, told this correspondent that the company had never compromised on quality when it came to providing houses to all sections of people based on the core idea of its founder, the late V C Jain, who always wanted to promote projects that made people get houses of their choice at an affordable price.

In the course of years, the company has been able to provide housing solutions to over 7,000 customers, in over 250 housing projects.

It has also embarked upon changing the future of construction industry in Chennai, he added.

About the Rs 130 crore Infiniti project located adjacent to Queens Land theme park at Melavur Kuppam in Chettipedu village near Sriperumbudur, spread across 5 acres, Jain said there would be 588 units with single, two and three bed room apartments, ranging between 365 square feet and 1,059 square feet.

The price tag of the units ranged between Rs 9.5 lakh and Rs 27.5 lakh and the work on the project would be completed by the end of 2010.

The Infiniti project is located on NH 4 adjacent to Queens Land Theme Park that is diagonally opposite Chembrambakkam Lake and within 5 km radius where many MNC are functioning. Chennai second International Airport is also coming up in Sriperumbudur, probably by 2015, which is less than 10 km from the project site.

The Rs 300 crore Lotus Pond project, spread across 11 acres, would offer 1,200 units with single, two and three bedroom apartments and they would be made available to the buyers by the end of 2010.

The size of the units would range between 400 square feet and 1157 square feet and the price tag between Rs 10 lakh and Rs 30 lakh, Jain noted.

The project would have amenities like swimming pool, multipurpose gym, community hall, children play area, water bodies, lily ponds, skating area, indoor games, tennis court, dance and yoga room, art and craft room, cricket net, departmental store, library, browsing centre, beauty parlour, creche and landscaping.

There are plans to build premium apartments measuring 4,500 square feet to 5,000 square feet with a price tag of Rs 7 to Rs 8 crore for the high end segment in prime areas like Nungambakam and Besant Nagar by mid 2010, Jain remarked.

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

Vijay Shanthi inks MoU for Rs 700 mn project

Vijay Shanthi Builders announced that it has yet again ventured in to a memorandum of understanding (MoU) for a Rs 700 million Project at Kilpauk located in the heart of Chennai city.

It further said that all its other projects have reported impressive sales.

The company operates in two segments: construction and mineral water manufacture.

The stock had underperformed the market over the past one month till Sep. 14, 2010, falling 9.74% compared with the Sensex`s 6.49% rise. It underperformed the market in past one quarter, gaining 10.05% as against 11.59% rise in the Sensex.

Shares of the company declined Rs 0.8, or 2.21%, to settle at Rs 35.35. The total volume of shares traded was 10,385 at the BSE (Wednesday).

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.