ICICI Prudential to Invest in Ansal's Ghaziabad Project

Ansal Properties' residential township project in will be hived off into a JV where ICICI prudential will take 40% stake for over Rs100cr through one of its investment companies.

The residential project is part of Ansal API’s township project- Aquapolis in Ghaziabad.

Aquapolis is spread over 130 acres and has a highrise residential project and commercial development. The housing project will have about 45 towers, with a total of 2,500 units.

Ansal API is bringing in investors to fast-track the completion of its projects, which were delayed due to the earlier slowing of the real estate sector. A few days ago, the company had announced its plans to raise funds through stake dilution at project level.
The company’s debt equity ratio at present is 1:1. Its land bank includes around 25 projects spread across NCR, out of which 12 are being developed through JVs.

Last year, Ansal API was in talks with Red Fort India Real Estate and Investate Realty to sell stake in 2 of its projects to raise around $100mn.

In August 2009, IPRO had acquired 10% stake in Ansal Properties for Rs 88cr by subscribing to 1.26cr preferential shares. In June 2008, HDFC Asset Management Company invested in Megapolis in Greater Noida, which was marketed as a high-tech township.

PE investments in real estate reduced considerably in the past two years as economic growth slowed. Real estate funds that invested $8.6 billion through 100 transactions in 2007, invested $6.5 billion in 2008 in 85 transactions. In the first 11 months of 2009, real estate funds invested $867 million in 20 transactions.

2010 looks like a good year for realty as a couple of deals have been announced in the recent past.

Source: BS

Previous Article

UPDATE: Istithmar Exit deflates SpiceJet's Capital Raising Plans

Next Article

Batelco To Sell STel Stake To Indian Partner

All Comments

Readers' Recommendations

1	October 26, 2010 07:26 AM	cheap AH Handbags will own personality traits intofull replica Marni Handbags series, to reveal COACH TRIBECA OP ART CHECKBOOK BLACK,mature charm and Hermes Wallet, the youth nifty little moxa "medium" flavor.To make the punk element to deduce costlynobility will feel, Chloe Handbags, replica Miu Miu Handbags auger, Dior Wallet and designer handbags at discount prices gemstonecutting various manual swarovski crystal with ivory color, and tries to combinethe pearl in some metal components in bold cheap Marni Handbags and replica Yves Saint Laurent Handbags, shape of halfbacknamby-p amby style.Coach Madison Op Art Audrey Black Satchel 14294will be held on April 22nd, in Shanghai in mainlandChina opened its first wholesale designer handbags, to celebrate the opening, will hold a programcalled replica Versace Handbagscelebri ty charitable projects, invite cooperationof many celebrities from all over the world in the same kind of style of AH Handbags replica, replica Juicy Couture Handbags on all the works and ultimately will auction website inChina. With beautiful spring for Louis Vuitton Handbags replica, attached with noble modelling,selec t material to COACH continued throughout Coach KRISTIN LEATHER HOBO 14783 black,style is pure and fresh, sending out female charm. Want to add the prestige and style of a Marc Jacobs replica Handbags to your repertoire, but dont have the budget to accommodate the real thing In this tough economic climate, many other consumers share your cheap Wallet. Luckily, you dont have to abandon your dream of carrying a Juicy Couture Handbags replica. In recent years, high-quality imitations have abounded in the Bally replica Handbags market -- and theyre a far cry from the inferior purse knockoffs that were often sold on street corners or out of the trunks of cars. These days, you can purchase a high-quality Dolce Gabbana Handbags replica from a reputable online store, shopping around the clock without leaving home.TGA: Giverchy Handbags replica Jimmy Choo replica Handbags Replica Louis Vuitton HandbagsReplica Watches Miu Miu Handbags. The three-time All-Star missed all of spring training after undergoing surgery on his non-throwing left shoulder in December. He's also coming off left knee surgery fake Fendi Handbags he had late last year and began the 2010 season on the 15-day disabled list.San Francisco manager Bruce Bochy said Sunday fake wholesale handbags Sanchez is progressing well and could return to the team in two weeks."It looks like he's on his way now," Bochy said. "He's playing defense Cheap Handbags, swinging the bat ... he's doing everything. I'd put Hermes Wallet replica right around two weeks."Sanchez, the 2006 NL batting champion replica Coach Handbags, was acquired from the Pittsburgh Pirates in a trade on July 29. He played in only 25 games for San Francisco last season while battling a variety of injuries.Sanche z's progress is encouraging news for the Giants, who are awaiting results of an MRI on infielder Juan Uribe's right elbow. Thomas Wylde Handbags replica, who has been starting at second base in Sanchez's absence, left Saturday's 2-0 win over the Cardinals in the top of the third with elbow tightness.Mark DeRosa Bally Handbags, who replaced Uribe, started at second on Sunday after being hit twice in the left elbow by Adam Wainwright on Saturday night.Bochy said the Giants won't rush Sanchez back even if Uribe is out for an extended period."No replica Loewe Handbags, he needs to play," Bochy said. "He missed spring training and he needs to get some games under his belt to get to where he's comfortable and see how cheap Miu Miu Handbags shoulder reacts cheap Louis Vuitton Handbags, too, to some playing time. He'll have to go up the ladder and play hopefully at Triple-A and get his timing."Sanchez signed a $12 million real designer handbags, two-year contract extension with San Francisco on Oct. 30. He batted .293 with seven homers and 41 RBIs last season in 111 combined games with Juicy Couture Handbags and cheap Versace Handbags - Posted by bags Recommended by 0 Readers
2	August 06, 2010 04:15 PM	Aquapolis, a residential project launched by Ansal Group is located in Ghaziabad and it spreads over an area of thirty acres. Currently twenty five projects are running. Financial institutions such as ICICI prudential and HDFC had also invested in these projects. Ansal Group has given many modern townships including Megapolis in Greater Noida. To know more about developers and their projects, go through this e-source and if you want to buy home at low-cost in Ghaziabad/Delhi /Faridabad/Noid a/Greater Noida/Gurgaon then contact at: 0120-4338222. http://www.ncrd ealer.com/ - Posted by Property Agent Recommended by 0 Readers