Ravi Karandeekar's Pune Real Estate Market News Blog: QVC Realty

Showing posts with label QVC Realty. Show all posts

Tuesday, December 25, 2007

QVC Realty, Bangalore, to launch 150 acre “second homes” project, with a nine-hole golf course and a resort, in Chikmangloor, in Karnataka

QVC will launch 4 new projects next year: QVC chief executive officer Prakash Gurbaxani said the projects would be in north Bangalore, Hyderabad, Chennai and either Pune, or Indore.

QVC has 2 townships in Gurgaon: QVC currently has 2 township projects of about 10 million sq. ft in Gurgaon. Gurbaxani said 1 million sq ft. area in the two townships would be developed for commercial use, while the remaining would be for residential complexes.
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What 's this? No news about QVC Realty's funding or investing!

Yes, in 2007 QVC news , generally, was about raising or investing funds. Like this:

1) First venture-funded Indian real estate company, QVC Realty of Bangalore, plans to invest Rs 2,500 cr for two townships in Gurgaon

2) QVC Realty, Bangalore, India’s first venture capital funded real estate company is looking to raise around $100-$200 million from private equity firms

In 2008, to read about financial and investment news, please, visit my "Pune Real Estate Investment" blog. For example:

QVC Realty, India’s first venture capital-funded real estate company, plans to invest Rs594-792 crore in 2008 in new and existing projects

QVC, Sobha Developers and Chintel Group Joint Venture: 192 acre township in Gurgaon:

Here, on this blog, i will focus on the actual development of the real estate projects.

For us, Pune real estate market, this Gurgaon township is important for two reasons. First, Sobha Developers, construction contractors of Infosys, has already launched a project at Kondhawa, in Pune.

Second, marketing genius and PR expert, Prakash Gurbaxani, CEO of QVC, always includes 'Pune' in his long list of cities where QVC is going to launch its projects. Who knows, some day, QVC may launch project in Pune! So let us follow QVC and Sobha projects.

According to JC Sharma, MD of Sobha Developers:

This is a township development where we have formed a joint development agreement with QVC Realty, which has been supported by IL&FS and Chintel Group who are the land bankers.

It’s a tripartite agreement where we are going to develop 192 acres of township in Gurgaon where we will be the developer for the whole project and will have an economic interest of about 68%.

We hope to build about 6.5 million sq. feet over a period of five years. The LOI for the group housing has already been received and the required payments for the township have also been made. We feel that we can start our projects in Gurgaon next year.

According to Chintels India Ltd.:

OCTOBER 3, 2007: Chintels India Ltd. has signed an agreement with Sobha Developers and QVC Realty for the joint development of a 192-acre township in the prime sectors 106 and 109 in Gurgaon, Haryana.

The township would be the closest township in Gurgaon to Delhi, virtually a stone's throwing distance from Dwarka, and the new terminal of Indiara Gandhi International Airport.

The salient features of the project include an integrated township of world-class design and quality consisting of homes, apartments, commercial, retail and office space at a projected investment of over Rs 2,000 crore and a total development in excess of 6.5 million sq ft.

The township would be developed jointly by Sobha Developers, a leading real estate company with other township projects in Kochi and Thrissur (Kerala), QVC Realty which is based in Bangalore.

Mr. Prashant Solomon, Director of Chintels India Ltd,, the flagship company of the Chintels Group said, "We are glad to be associated with professional partners like Sobha Developers and QVC Realty. This township project will help us establish ourselves as a prominent player in the NCR real estate market.”

Monday, October 15, 2007

QVC Realty, Bangalore, India’s first venture capital funded real estate company is looking to raise around $100-$200 million from private equity firms

brand & shuffle, originally uploaded by montgesin.

QVC raised $100 million of venture capital funding in April this year from IL&FS Investment Managers (IIML), the private equity arm of Infrastructure Leasing & Financial Services Ltd. IIML raised $525 million in 2006 to invest in the Indian realty sector, and holds a majority stake in QVC(!)

Marketing Genius :

“We will look at raising capital in a second round of funding sometime towards the end of next year to fund our projects,” Prakash Gurbaxani, founder and CEO of QVC Realty said.

Yes, "the end of next year"! Do not get disappointed. Admire how he has branded himself and has became a star of the Indian Real Estate! I am going to blog Mr. Prakash Gurbaxani on my new Real Estate Marketing Blog!

Welcome to Pune :

QVC plans to develop around 6-10 million sq. ft of property over the next five years in markets such as Mumbai, New Delhi, Bangalore, Hyderabad, Chennai, Pune and tier 2 or smaller cities such as Kolkata, Chandigarh, Nagpur and Kochi.

QVC Realty Bangalore Bangalore real estate venture capital funding private equity funds equity funds equity IL&FS Investment Managers (IIML) Infrastructure Leasing & Financial Services Ltd. Prakash Gurbaxani branding marketing real estate marketing blog Mumbai real estate New Delhi real estate Hyderabad real estate Chennai real estate Pune real estate Indian tier 2 cities Kolkata real estate Chandigarh real estate Nagpur real estate Kochi real estate Indian real estate ravi karandeekar

Wednesday, September 5, 2007

First venture-funded Indian real estate company, QVC Realty of Bangalore, plans to invest Rs 2,500 cr for two townships in Gurgaon

The company has already raised 100 million dollars (Rs. 410 crore) from IL&FS Realty, the real estate fund of private equity firm IL&FS Investment Managers Ltd. Interestingly, IL&FS Realty will own 100% stake in the company initially, and the management will get a stake on delivery.

A part of this, 100 million dollars, has been utilised for buying the land. QVC would meet the development and construction cost from debt, internal accruals and equity at project level.

"We have acquired 200 acre land in Gurgaon for developing two townships of 100 acre each. The estimated investment in these two projects would be about Rs 2,500 crore,"company's founder and CEO Prakash Gurbaxani said, as per today's zeenews.

However as per DNA Money: “In four years, the combined capital value of the two projects (Gurgaon and Bangalore, at that point of time this was the plan) is expected to touch Rs 3,000 crore,” said Mr. Gurbaxani in April.

The two partners have not yet decided on a fixed profit sharing ratio. (!) “However, the management (QVC and IILM) may take their respective stake on delivery of projects,” said Shahzaad Dalal, managing director, ILFS Investment Managers. IIML has also committed to partner QVC in all its future real estate projects, according to Dalal.

The IL&FS Realty Fund is a private equity fund, mandated to invest in equity/ equity related instruments of Indian Companies operating in the Real Estate sector and related areas. The Fund will seek to achieve a gross investment-level leveraged annual internal rate of return in excess of 25%. In addition, the Fund will target a cash-on-cash stabilised yield on equity exceeding 8% per annum for income-generating projects

IL&FS Investment Managers Limited (IIML) is one of India’s largest domestic private equity fund management companies, managing over US$ 1 bn on behalf of leading Indian and international institutions. IIML presently manages an array of funds focused on investments across infrastructure, real estate, life sciences, manufacturing, information technology, and consumer services. IIML is a publicly traded investment management company with Infrastructure Leasing & Financial Services Limited (IL&FS) being the principal shareholder

IL&FS is one of India's leading infrastructure development and finance companies. IL&FS was promoted by the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI). Over the years, IL&FS has broad-based its shareholding and inducted Institutional shareholders including State Bank of India, Life Insurance Corporation of India, ORIX Corporation - Japan, HSBC Group and Government of Singapore.

Prakash Gurbaxani, well known serial entrepreneur and one of the pioneers of ITeS industry in India, founded QVC Realty Ltd. in March 2007. QVC stands for Quality and Value for the Customer. He has over 20 years of experience in a wide variety of industries including real estate, construction, BPO and technology.

From June 2005 to Jan 2007, Prakash Gurbaxani was the CEO of TSI Ventures, a joint venture between Tishman Speyer, USA and India's ICICI Venture. TSI Ventures is a fully integrated real estate investment management and operating company with a mandate to identify, invest in and develop properties with a cumulative asset value in excess of USD 2 billion over the next 5 years.

As CEO, Gurbaxani’s responsibilities included directing all aspects of the business such as strategy, business development, design and construction, acquisition, sales and marketing, investor relations, fundraising, finance and property management.

Prakash Gurbaxani holds a Master's Degree in Construction Management from New Jersey Institute of Technology (NJIT), Newark, NJ , and a B.S. (major in Civil Engineering) from Regional Engineering College (REC), Nagpur, India.

Besides Gurgaon, Gurbaxani said the company was close to acquiring a project in Bangalore and is scouting for land in Hyderabad, Chennai and Pune to undertake more realty projects.

Mr. V S Kumar as VP Finance & Company Secretary, Mr. C J Balasubramanya as VP Design & Construction, Mr. Ramesh Jagirdar as VP Legal and Mr. David Finehirsh as its Sr. Business Analyst for Strategy & Acquisition joined Mr. Gurbaxani's team in the month of June.

Yes, Mr. Gurbaxani there is a lot of "Quality, Value, Convenience" for you and your fund mangers. Wish you all the best.