Revealed source to www.propertykhazana.com discloses that the Emami Group a Rs. 3,700 Crores in order to spread its wings had bought 850 acres of prime property in a nationwide property growth spree. Company to purchase properties in Jhansi, Chennai, Kolkata, and Hyderabad and in Coimbatore had invested over Rs. 210 Crores to grow high-class big scale housing and commercial complexes. Emami’s officer are discussing about more property contracts and anticipating to confirm it by the end of 2011 or early 2012 and RS Agarwal, Joint Chairman of Emami said that, “We are in rush to stage up big area, but we will not shut the property contract in speed. All for’s and do’s will be considered before confirming the lands.” But still he declined to expose the break-up of the contracts naming corporate governance issues and he told that the corporation is propping up by the commercial banks and from the loan intuitions. Director Girija Choudhary of Emami Realty said, “We are gazing to construct best housing complexes and have also proposed to take up big residential ventures including retails, residential, hospitality and commercial lands depending on the market situations.”
Meantime, speaking to the www.propertykhazana.com “realty projects and all other ventures are undertaken by us, it will be funding by safe and unsafe loans, progresses from clients and advertiser’s own finances”, said the director. Emami Group has taken large steps in FMCG and in private care space more than years and has also energetically involved in the city’s real estate market. Some of the best part venture has been purchased in Kolkata’s Landmark realty ventures, which is urbanized by a city based realtor. By its own the group is constructing housing complexes under the Orbit Brand tag. Agarwal by outlining the group’s upcoming proposals said that, “Even though the firm choice has not yet been taken, as a group is in mean to develop realty trade alone. JV developments will be chosen selectively and only if the contract is worthwhile. Going ahead, the group will focus more on endorsing the umbrella brand ‘Emami’ disclosed the official.
Source: NIMMA BENGALURU
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