Radiance Realty Developers India Limited has acquired four acres land for R80Cr from Greaves Cotton to develop high-rise residential complex on the property.
Radiance funded the land acquisition by internal accruals.
Promoted by Varun Manian, Radiance Realty was formerly known as NAPC Properties Limited. The company is engaged in residential property development business.
Earlier in January, France based construction major - Vinci has acquired 100% stake in NAPC Ltd for an undisclosed amount. Varun Manian deployed the proceeds into the family's real estate and renewable energy businesses.
The company was founded in 1949 as National Asphalt Products & Construction Co (a partnership firm) by BS Manian to undertake road projects. NAPC Limited was founded in 2005 by KS Manian (BS Manian's son). It took over the partnership's firm business in 2007. Currently NAPC undertakes civil construction projects invloving construction of roads, airport runways, buildings and mining contracts.
Recently, Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust (a-iTrust) has acquired two operating buildings in Hitec City 2 Special Economic Zone in Hyderabad, India, from Phoenix Infocity Pvt Ltd for R176.5Cr; IL&FS Investment Managers is buying Logix Group’s four office buildings in Noida for R600Cr.
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24632
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 10/02/12 |
Greaves Cotton - 4 Acres Land - Radiance Realty Developers |
M&A |
Radiance Realty Developers India Limited (Formerly NAPC Properties Private Limited) |
16.13 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
EON SEZ |
- |
Completed |
| 18/05/12 |
M&A |
Godrej Properties Limited |
Bangalore Land |
18.25 |
Planned |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
Hadapsar Project |
- |
Completed |
| 18/05/12 |
M&A |
Looking For |
Mumbai Land |
529.20 |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| Greaves Cotton Limited |
Karan Thapar |
Industry Manor, Appasaheb Marathe Marg, Prabhadevi |
Larsen & Toubro Limited
Punj Lloyd Limited |
www.greavescotton.com |
| Radiance Realty Developers India Limited (Formerly NAPC Properties Private Limited) |
Varun Manian |
Khivraj Complex-II, 6th Floor, 480, Anna Salai, Nandanam |
|
www.napcproperties.com |
