Its been 10 years since Mr Bhatia sold his company to Microsoft but ever since that he's been trying valiantly to build the next sucess story. Unfortunately this new venture like few of his others is a dud from day one. Trying to create a semiconductor fabrication enviroment is easier said then done. Skilled manpower, water, electricty and partnerships with bechtel or similar likes are needed before the groundbreaking crememony. Unfortunately in India lured by the hype of the Sensex and PE firms these morons think they can sucker local Indians into buying apartments in an SEZ mirage. As with other mega deals I expect this one to fail in times to come. Pasvanath has nothing to claim in expetise apart from oiling policiticans and babu's. If this was a sunrise industry Ratan Tata, Premji or the Ambani's would be right at the forefront with solid business plans, not with real estate development hype companies. The ecconomic times press release as usual with no analysis is below
Parsvnath Developers on Wednesday joined hands with Sabeer Bhatia, co-founder of Hotmail, to develop a 11,138 acres knowledge city near Chandigarh, where the company will initially invest Rs 400 crore.
The project, Parsvnath Nano City, valued at Rs 50,000 crore (12 billion dollars), is promoted by the former Hotmail innovator Sabeer Bhatia, whose company holds the majority stake of 52 per cent. The Haryana government holds 10 per cent stake.
"We have already made an investment of Rs 41.5 crore for acquiring 38 per cent stake and the remaining will be invested as debt in future," Parsvnath Developers Chairman Pradeep Jain told reporters here.
To be developed in Panchkula, the project would be completed in two phases over the next 10 years, where the company would develop 5,000 acres in the first phase.
"We have already acquired about 1,500 acres and we are talking to various land owners for acquiring the rest," Jain said.
The realty firm would invest Rs 400 crore initially in the form of equity and debt in the project, he said.
All the stake holders of the project has formed a new entity, Nano City Haryana Ltd, which would raise funds from the capital market within 18-24 month for completing the project.
"We plan to take the company public in 18-24 months, but we have not finalised how much stake will be diluted or how much money we are going to raise," Jain said, adding the company would also dilute some stake to private equity investors.
Parsvnath Developers on Wednesday joined hands with Sabeer Bhatia, co-founder of Hotmail, to develop a 11,138 acres knowledge city near Chandigarh, where the company will initially invest Rs 400 crore.
The project, Parsvnath Nano City, valued at Rs 50,000 crore (12 billion dollars), is promoted by the former Hotmail innovator Sabeer Bhatia, whose company holds the majority stake of 52 per cent. The Haryana government holds 10 per cent stake.
"We have already made an investment of Rs 41.5 crore for acquiring 38 per cent stake and the remaining will be invested as debt in future," Parsvnath Developers Chairman Pradeep Jain told reporters here.
To be developed in Panchkula, the project would be completed in two phases over the next 10 years, where the company would develop 5,000 acres in the first phase.
"We have already acquired about 1,500 acres and we are talking to various land owners for acquiring the rest," Jain said.
The realty firm would invest Rs 400 crore initially in the form of equity and debt in the project, he said.
All the stake holders of the project has formed a new entity, Nano City Haryana Ltd, which would raise funds from the capital market within 18-24 month for completing the project.
"We plan to take the company public in 18-24 months, but we have not finalised how much stake will be diluted or how much money we are going to raise," Jain said, adding the company would also dilute some stake to private equity investors.
8 comments:
Contrary to mass opinion, I believe there are some great buys available in the market which have become even more attractive because of a slowdown in sales. I have written about opportunities in the resale markets in my latest post at www.meridharti.com.
Happy investing!
Ashish Abrol
www.meridharti.com
Ashish,
Why don't you buy these properties for yourself. One more advice to you: remove your picture from your postings because the people who get hurt after taking your advice would be looking to beat the shit out of you.
Anonymous,
I really want to understand how old you are. Not only are you inarticulate and obnoxious, you seem to be a delinquent! Calm down my man and do some yoga. This anger and resentment can only give you ulcers.
Also, my picture should be least of your problems. Your biggest problem is anger management and I suggest you get medical intervention to fix it. And along the way, it would help if you became familiar with etiquette. Do you know what that word means?
ashish,
you not only sound like a asshole, but look like one too. You should consider adding letter 't` to your nick or name, whichever it is
Ashish,
I don't know how old you are but looks like you have a big ego and talk like a teenager.
You worry about your own sorry ass. You'll learn your lesson with time. Don't you worry about my ulcers. Just worry about your future as you may soon be forced to beg on the streets of Delhi.
And chutiye Ashish, you want me to learn etiquettes?
Mother fucker, go get a life.
You don't belong to this blog. Go back to your meri dharti and try to screw naive people there. This blog is for people who have IQ more than you can think of.
Anon,
Why are you cussing Ashish. Let him live in his rosy world. I only hope he has not bought all the properties with loans. If he has, then he's the poster kid of subprime. His interest payments will be more then appreciation on the property and poor guy will be bleeding of a thousand cuts.
As they say, the strong will survive or, in this case, those with a solid record, excellent service, the ability to shift with the market and, frankly, those with some cash in the bank have weathered the shift.So what is the A game in real estate these days? It’s different than what it used to be. Here’s my take on the topic: The Real Estate A Game (most of this is not new)
- Full time
- Admin assistant
- Significant internet presence
- Online social networking
- Virtual tours for all listings
- Tracks expenses for client results
- Is known among local Realtors
- Has a proven track record
- Constantly studies the market
- Constantly listens to the mortgage moving target
- Adept at counseling clients through the uncertainties
- Does not work 24/7 (that Realtor will not have longevity)
- Longevity.That’s my take. Anything less is B material.For more view- realtydigest.blogspot.com
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