Mr. E. Sunil Reddy, Managing Director and Vice Chairman of IVRCL Assets & Holdings Ltd is a lawyer turned Promoter Director of the company..Under his guidance, Aavisa is taking shape as a living experience where living and working with nature are fundamental. Reddy has keenly woven together his inspiration to cherish nature with urban designs and rigorous standards.
IVRCL Assets & Holdings (IVRCL A&H) was first established as the Real Estate Urban Development arm of the renowned infrastructure conglomerate, IVRCL Infrastructures and Projects Ltd. (IVRCL). Previously known as IVR Prime Urban Developers Ltd., it became IVRCL A&H following the amalgamation of IVR Strategic Resources & Services Ltd. and IVRCL Water Infrastructures Ltd. It is now the holdings company for the infrastructure assets of IVRCL. IVRCL A&H’s foray into real estate began with it being selected for the development of a residential complex for the athletes and officials of the 32nd National Games held in Gachibowli, Hyderabad.IVRCL A&H has offices across the country and over 5000 employees
Replying to Yash Ved of IIFL, E. Sunil Reddy says," IVRCL A&H has a land reserve of around 2500 acres spread across Chennai, Hyderabad, Bangalore, Noida and Pune".
Brief us about your current and upcoming residential and commercial real estate projects?
We currently have two projects under development. The larger one, Aavisa, is the first private golf-centric community in Chennai and the largest in South India.
Aavisa is coming up an hour’s drive from the Chennai Airport, just off NH4 in Sriperumbudur – the electronic and auto manufacturing hub of India. It is a 700-acre township live, learn and play in. It will offer a championship golf course, villas, apartments, work spaces, a hotel, a hospital, a school and retail spaces. It is nestled by lakes and will have natural ponds interspersed throughout.
The smaller project, Thyme Park, is a self-sufficient apartment development in Jigani, Bangalore. We are in the process of initiating a couple of other projects as well.
What are your projects in Infrastructure space?
IVRCL A&H is also known for highways, water and environment projects, oil & gas projects. We have strongly benefitted from its in-house execution expertise as well as the expertise of its Parent Company. Some of its landmark projects are the Chennai Desalination Plant, the Kumarapalayam – Chengapally highway, the Goa - Maharashtra highway, Indian Oil Tankages and the Patalganga Truck Terminal.
The total value of infrastructure assets is Rs.100bn
What is your land bank?
IVRCL A&H has a land reserve of around 2500 acres spread across Chennai, Hyderabad, Bangalore, Noida and Pune.
What is the total area under development?
The total area under development is about 700 acres in Sriperumbudur and 9 acres in Bangalore.
Any fund raising plan? Any plans for QIP?
We have taken an enabling resolution for Rs.10bn.
There are reports that the company is exiting real estate business?
In principle, we are focused in infrastructure assets and shall be very selective looking at real estate.
Brief us about your financials?
Our consolidated net worth as on 31/03/2010 is Rs. 22.94bn.
What is the current employee strength?
We have around 50 employees on rolls and supported by over 7500 employees of IVRCL
Your promoter holding?
Our promoters hold around 88%.