Poddar Developers looking to raise Rs.600 crore

Q: Have you read this news? Real estate player Poddar Developers Ltd is looking to raise Rs.600 crore from private equity players for land acquisitions and project specific developments in Mumbai

Rubiya,

8th December 2015

Real estate News in Mumbai

poddar developers

affordable residential projects

qip

qualified institutions placement

rohit poddar

qip funds

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Replies (3)

Hi Nitesh,
The funds are being placed to buy extra land in the affordable housing space in Mumbai's suburbs and peripheries.

Ashish Sharma, Mumbai

8th December 2015

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It is true that have delivered about 4000 flats in the last 3 yrs with over 2 million sq-ft. of developed area and yet they are planning to develop 3 million sq-ft every year starting 2019.

Ashish Sharma, Mumbai

8th December 2015

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Hi Ashish,
The company has identified few land parcels and are planning to acquire it which will result about 1500-2000 flats this year. Even they want to raise this delivery rate by about 40-60% in the next year.

Samrat,

8th December 2015

Hi Samrat and Ashish,
How much of the funds from the qualified institutions placement (QIP) route were placed and where?

Nitesh Patil, Pune

8th December 2015

Yes, i read this news in the morning. The company, which is largely focussed in the affordable residential housing projects, expects to close the fund-raising in 6 months.

Earlier, In January, the company had raised Rs.125 crore through qualified institutions placement (QIP) route and are expanding by developing projects in and around Mumbai.

Samrat,

8th December 2015

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