TVS Emerald in talks to raise funds

In residential real estate space, company completed its first project and recently announced the second

Emerald Haven Realty Limited (EHRL), the real-estate venture of the TVS Group and known as TVS Emerald, is in talks with investors to raise funds, according to a senior management official.

On Monday, the company announced that its residential project in Chennai, Green Hills, has received an architectural score from Building and Construction Authority of Singapore and added that the company is in talks with private equity investors to raise funds.

"Some investors are talking to us, but we dont want to reveal more now," said R Chandramouli, president and chief executive officer of TVS Emerald. He added that the company is looking at developing projects of 2 million square feet in next 2-3 years.

 

EHRL, started in 2012, has already completed and delivered one project, GreenHills, in Tambaram, Chennai, which comprises of 448 apartments and 120 villas spread across 18 acres. It has recently launched its second project, GreenAcres in the same area. The company will focus on the residential real estate development and would target middle and upper income groups, said Chandramouli.