Maytas Properties Limited today announced that Infinite India Investment Management, one of the country’s largest real estate focused investment firms has invested Rs. 6,000 million (USD 150 million) in some of Maytas Properties’ upcoming projects. A part of these funds will be used for developing the next phase of Maytas Hill County, which is Maytas Properties’ flagship project in Hyderabad. Phase II of Maytas Hill County will include a 9 million square feet IT SEZ and 28 million square feet of residential development. In addition, Maytas Properties will use these funds for land acquisition as well as development of some of the major residential and commercial projects that they are launching in Hyderabad, Chennai, Bangalore, Nagpur, Vijayawada, Vizag and Kochi over the next six months.

The equity participation in Maytas Properties, is Infinite India’s largest investment in India till date and follows their recent commitment of Rs. 2,000 million to a leading real estate player in eastern India.

Commenting on the development, Mr. K.Thiagarajan, CEO, Maytas Properties Limited said, “We are delighted to partner with Infinite India. This investment will not only increase the momentum of our expansion plans and fund our projects, but also provide us access to Infinite’s network in the real estate sector.”

Speaking on the occasion Mr. Karthik Sarma, Chairman, Infinite India, said, “Our investment in Maytas Properties is in line with our business strategy of partnering with top players in the real estate space. This investment is our largest investment in India to date. The quality and professional approach of the Maytas management team and the solid track record of the Promoter family of building businesses and creating shareholder value, positions Maytas well to be one of the top 5 developers in India.”

Mr. Vishal Kampani, promoter, JM Financial Limited said, “We are very enthusiastic about this partnership as we sense great potential and opportunity for growth for Maytas. We are happy to be associated with a strong management team in one of India’s accelerating growth sectors. ”

Sourced From: Perfect Relations Limited

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