Wednesday, January 27, 2010

100 acre land at Hinjewadi - Sobha Developers calls off land sale

Thanks to Infosys co-founder N S Raghavan:

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Sobha Developers had put up for sale some of their lands, including 100 acre at Hinjewadi in Pune. The total value of these lands is between Rs 600 and 800 crore. The sale would have generated the much-needed cash for Sobha to develop its projects. Like Sobha Carnation on Kondhwa road, Pune.

However, Sobha Developers, is learnt to have called off the land sale. Because Sobha managed to strike a deal with an investment fund owned by Infosys co-founder N S Raghavan to raise Rs 225 crore by selling a part of its land bank. And also because Sobha managed to reschedule a substantial part of its loan portfolio.

To read more, please, visit The Economic Times

Links:

1) The amazing Infosys story How Infosys was born

2) Nadathur Holdings and Investments Pvt. Ltd.:
An investment firm established by N.S. Raghavan , Founder and Former Joint Managing Director of Infosys, with the aim of nurturing knowledge based and innovation driven ventures that either target the Indian market or leverage Indian resources to target the global market.

3) Nadathur S. Raghavan Centre for Entrepreneurial Learning:
The NSRCEL has been formed with this mission to bring ideas to implementation through a structured mentored programme which will help entrepreneurs see their idea taking shape into a planned Organisation which will render itself in a phased manner to be a successful business entity. The NSRCEL set up by the Indian Institute of Management, Bangalore, is a world-class Centre of Excellence for seeding, nurturing and promoting entrepreneurship.

4) Outsourcing dollars fund real estate in Bangalore

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