Trammell Meghraj in merger talks

Property consultant Trammell Crow Meghraj (TCM) is in talks with two global players for a possible merger or an alliance to expand its presence in India.

Anuj Puri, Managing Director, confirmed the development. "We want to have the most prominent position in the industry, which benefits our clients. The idea is to have a more robust clientele from the international markets," he said.

The US-based Jones Lang LaSalle and a UK-based real estate adviser, believed to be Savills, are the two entities with which TCM is in talks with for either a merger or alternatively, a partnership in India, according to industry sources.

The consultancy firm, which claims 15 per cent share in the domestic market, has given terms and conditions to these companies for a possible merger. "Though we have still not signed the dotted line, it should happen in 7 to 10 days," added Puri.

PTI adds: TCM, which has 10 offices in India with 1,300 employees, offers services such as property consultancy, brokerage, project management and facility management.

TCM, though strong in brokerage transactions, was weak in international mandate. "The merger would have give us international exposure as well access to global technology and processing platforms," explained Puri.

Jones Lang LaSalle, one of the world's leading real estate services and money management firms, has been operating in India since 1998 and has six offices in the country. Savills, which is an international property services provider, has 140 offices and associates worldwide.

TCM has a share of about 15 per cent of the total Rs 1,200-1,500 crore organised property consultancy business in India, the official said.