Transport Corp. of India Ltd (TCIL) is planning to raise Rs50-75 crore by selling shares to a select group of investors before the end of the year as the company expands its warehousing operations and ventures into the real estate business.
The Gurgaon-based company is acquiring land for constructing warehouses across the country to tap opportunities in the retail and agriculture sector. It also plans to develop a part of its land bank in Mumbai, New Delhi and Bangalore for commercial and residential projects, and is setting up a team with expertise in real estate development.
TCIL, which manages 7.5 million sq.ft. of warehousing space in India, has already acquired land Chennai, Mumbai, Nagpur and New Delhi and has started construction in Pune.
More : livemint.com
Send an E-Mail for Gurgaon Property Enquiry!
Related News from Gurgaon
Buy DLF, says Edelweiss Sec
Default play on real estate in India DLF is the leader in the Indian real estate industry in terms of developable area. Its land bank of 13,055 acres translates into 615 million sq. ft. of saleable area spread across the country. DLFs land cost of RS 250 per sq. ft. is marginal compared to prevailing land prices. The company has an established presence across all property development verticals, with a balanced project portfolio. Of the total saleable area, residential properties account for approx 400 million sq. ft., retail 58 million sq. ft., and commercial 104 million sq. ft. Related businesses
INTERVIEW - TCIL 06/07 EPS to grow 20-30 pct
NEW DELHI (Reuters) - Transport Corporation of India Ltd., the countrys biggest trucking firm, sees its earnings per share growing 20-30 percent in 2006/07 as demand for transportation and logistics grows, an official said on Thursday. Based in Gurgaon, a manufacturing hub on the outskirts of New Delhi, TCIL reported on Thursday earnings per share of 15.27 rupees in the fiscal year 2005/06 which ended in March, compared with 9.8 rupees in the previous year. Executive Director Vineet Agarwal told Reuters in an interview the company was also planning to unlock value of its real estate holdings across the country. We are keeping
Advantage Noida, Gurgaon
MCD's demolition drive may have made erring property owners dive for cover but it has also made businesses operating out of residential areas sit up and take notice. Over the past week, there has been a deluge of queries for office and commercial space in neighbouring Noida and Gurgaon. Said Pradeep Mishra, a local broker: "Every day, I've been getting at least 10-15 enquiries about space in Gurgaon. These people are generally looking for small offices in the range of 2,000-15,000 sq ft. Most of the queries are from businesses being run out of semi-commercial or residential areas like C
Its advantage Noida, Gurgaon
MCDs demolition drive may have made erring property owners dive for cover but it has also made businesses operating out of residential areas sit up and take notice. Over the past week, there has been a deluge of queries for office and commercial space in neighbouring Noida and Gurgaon. Said Pradeep Mishra, a local broker: Every day, Ive been getting at least 10-15 enquiries about space in Gurgaon. These people are generally looking for small offices in the range of 2,000-15,000 sq ft. Most of the queries are from businesses being run out of semi-commercial or residential areas like
Emaar expects Rs 6,000 cr from maiden public issue
A major portion to pay for land acquisitions and approvals. Realty firm Emaar MGF, which has filed its draft red herring prospectus with market regulator Sebi for its maiden public offering on Wednesday, expects to raise Rs 6,000 crore from the issue, say sources associated with the companys plans. Emaar MGF is offering up to 117.4 million shares at a price to be decided through a book-building process. More : business-standard.com