Tuesday, December 25, 2007

QVC Realty, India’s first venture capital-funded real estate company, plans to invest Rs594-792 crore in 2008 in new and existing projects

Investing

The Bangalore-based QVC Realty, which had raised $100 million of venture capital funding in April this year from IL&FS Investment Managers Ltd (IIML), has already committed $80 million to date.

IIML is the private equity arm of Infrastructure Leasing and Financial Services Ltd. (IL&FS)

Funding

QVC currently has two township projects of about 10 million sq. ft in Gurgaon.

QVC Realty has a land pool of 300 acres.

QVC will go for a second round of funding by mid-2008 and plans to raise up to $200 million.

Prakash Gurbaxani, QVC chief executive officer, said a major part of the new funding will also come from IILM and that QVC may go to the market in order to raise funds, if the company thinks it necessary to do so.
- livemint

Related Stories:
1. First venture-funded Indian real estate company, QVC Realty of Bangalore, plans to invest Rs 2,500 cr for two townships in Gurgaon
2. QVC Realty, Bangalore, India’s first venture capital funded real estate company is looking to raise around $100-$200 million from private equity firms

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