According to chief executive officer K Thiagarajan though the company was established just three years ago, it has a large land bank built over a period of several years by its promoters. The new townships will be constructed on the company's land in the two cities.
Three months ago, the company raised private equity of Rs 600 crore from Infinite India. "This amount is enough to execute all the ongoing projects and also to launch new projects," Thiagarajan told Business Standard.
He feels that real estate is a very vibrant sector though there is a little bit of flattening in this area at present. The company would be constructing two projects at Madhurawada in Visakhapatnam.
While the first project consists of 250 bungalows and 300 apartments, the second will have 570 apartments besides commercial space. In Vijayawada, it is planning to construct an integrated township in the southern part of city.
