Friday, September 14, 2007

What is Uppal Housing Ltd. doing in New Delhi and NCR?

Founded by Mr. Bhushan K. Uppal and headed by Mr. Manish Uppal, the Uppal Group has over 28 years of experience of having delivered more than 500 quality projects on time and has presence in all real estate verticals including residential, retail, commercial, SEZ and hospitality.

With a market worth of over 2000 crore, the company has strengths in several international relationships, management depth and professional approach to deliver design excellence and customer’s satisfaction.

1. In June this year, Uppal had formed a Special Purpose Vehicle with Luxor Group for the development of a 67-acre special economic zone (SEZ) in Gurgaon.
Diluted its stake in the SPV to Trinity Capital, a US-based boutique investment banking firm, for over Rs300 crore.

2. Uppal is talking with foreign investors to jointly develop its 263 acre multiservice SEZ at Gurgaon.
SEZ will require an investment over Rs5,000 crore in five years. “We will dilute our stake in the special purpose vehicle to raise funds.” said Gian Bansal, Uppal director and chief executive officer (infrastructure).

3. Uppal has received approvals for both the SEZs.
Uppal will be developing 3 more SEZs. Land acquisition for the zones has been completed.

4. Uppal plans to expand its hospitality and retail business, building 5 (more) hotels and 3 malls in Delhi and its suburbs.

Related News

1. Globalization of Real Estate Market

2. Oxford Analytica - INDIA: Delhi is alert to risk of property downturn (login to read)

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