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Lancor chalks out Rs 2,500-cr investment

BS Reporter / Chennai 28 Apr 11 | 12:06 AM

Chennai-based Lancor Holdings Ltd, previously known as DBS Properties Ltd, would invest around Rs 100 crore in various residential projects.

Lancor managing director RV Shekar said that its total projects to be implemented over the next six years were around Rs 2,500 crore. These include at a Rs 250-crore residential project at Potheri with 670 apartments, a Rs 70-crore project at Vallasaravakam with 92 apartments. At Nanganallur the company is planning to construct a 60-apartment property, with a sale value of Rs 65 crore.

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The company also entered into a joint venture agreement for developing a residential project, which would be spread over 17 acres, the value of which would be around Rs 450 crore.

The BSE-listed company is planning to acquire 95 acres at Sriperumbudur, where it is planning to develop Rs 1,000-crore worth of residential project over 4-5 years.

“Overall, by 2015, the company is planning to develop residential projects 6 million sft," he said. All these projects would help the company to reach a turnover of around Rs 400-500 crore, added Mallika Ravi, chief executive officer, Lancor Holdings Ltd.

During the year ended March 31, 2011, the company reported a turnover of around Rs 200 crore and it would remain the same in 2011-12. The growth would come from the fiscal after that, she added.

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