Radiance Realty lines up new projects

Projects will be executed in 4-5 years and for now will be funded through internal accruals

has lined up residential projects worth around $1 billion to be executed in the next 4-5 years.  These projects will be funded through internal accruals, said its managing director Varun Manian.

The company was set up by the post selling its 64-years-old construction company to Vinci, a euro 35 billion French construction major. While KS Manian continues to be chairman of NAPC, Varun Manian, his son, entered the real estate business.

“We have the money now, post the deal with Vinci. From March 2014, we will also look at roping in PE investors,” he said.

So far, Radiance had infused around Rs 650 crore as equity and would invest another Rs 200 crore, he added.The company might look at the initial public offering after 2014. The two-year-old firm has is in the process of constructing 2.7 million sft and has projects of around 4 million sft in the pipeline.

The group is also planning to venture into renewable energy by setting up solar farms of less than 10 Mw in Tamil Nadu and Gujarat.

image
Business Standard
177 22
Business Standard

Radiance Realty lines up new projects

Projects will be executed in 4-5 years and for now will be funded through internal accruals

BS Reporter  |  Chennai 



has lined up residential projects worth around $1 billion to be executed in the next 4-5 years.  These projects will be funded through internal accruals, said its managing director Varun Manian.

The company was set up by the post selling its 64-years-old construction company to Vinci, a euro 35 billion French construction major. While KS Manian continues to be chairman of NAPC, Varun Manian, his son, entered the real estate business.



“We have the money now, post the deal with Vinci. From March 2014, we will also look at roping in PE investors,” he said.

So far, Radiance had infused around Rs 650 crore as equity and would invest another Rs 200 crore, he added.The company might look at the initial public offering after 2014. The two-year-old firm has is in the process of constructing 2.7 million sft and has projects of around 4 million sft in the pipeline.

The group is also planning to venture into renewable energy by setting up solar farms of less than 10 Mw in Tamil Nadu and Gujarat.

RECOMMENDED FOR YOU

Radiance Realty lines up new projects

Projects will be executed in 4-5 years and for now will be funded through internal accruals

Projects will be executed in 4-5 years and for now will be funded through internal accruals has lined up residential projects worth around $1 billion to be executed in the next 4-5 years.  These projects will be funded through internal accruals, said its managing director Varun Manian.

The company was set up by the post selling its 64-years-old construction company to Vinci, a euro 35 billion French construction major. While KS Manian continues to be chairman of NAPC, Varun Manian, his son, entered the real estate business.

“We have the money now, post the deal with Vinci. From March 2014, we will also look at roping in PE investors,” he said.

So far, Radiance had infused around Rs 650 crore as equity and would invest another Rs 200 crore, he added.The company might look at the initial public offering after 2014. The two-year-old firm has is in the process of constructing 2.7 million sft and has projects of around 4 million sft in the pipeline.

The group is also planning to venture into renewable energy by setting up solar farms of less than 10 Mw in Tamil Nadu and Gujarat.
image
Business Standard
177 22
Widgets Magazine

More News

  • SMEs fuelling India growth story: Adaire Fox-Martin SMEs fuelling India growth story: Adaire Fox-Martin
  • (From left to right) Dr Arvind Lal, CMD,  Dr Lal PathLabs Pvt Ltd and  Dr Om Manchanda, CEO, Lal PathLabs Pvt. Ltd at the announcement of Dr Lal PathLabs IPO in Mumbai (pic: Suryakant Niwate) Dr Lal PathLabs faces pricing pressure, margin erosion
Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard