PVP Ventures raises $225 mn debt

PVP Ventures, owned by Prasad V Potluri, a NRI entrepreneur, has raised a debt of $225 million (Rs 900 crore) from Deutsche Group. The funds will be utilised for buying and developing 1,200 acres of land in Hyderabad and part funding the SSI buy.

The company recently gained control of SSI, an IT training company with notable land banks, for around Rs 860 crore.

According to available information, PVP has a land bank opposite the upcoming Hyderabad International Airport. The acquisition of SSI will add properties in Chennai and a hospitality project at Ooty to the PVP kitty.

Potluri is known for his involvement with various companies and profitable exits. "He has been a serial entrepreneur in the outsourcing services arena and has a track record of interfacing with both US and Indian markets. His expertise lies in building organisations both organically and inorganically. He has been a CEO/founder of companies such as Procon, Albion Orion, Irevna and Maven Corp," an industry analyst noted. Deutshce Group has been aggressive in the Indian real estate market through its various arms.