Mumbai: Despite RBI's measures, the real estate market is not slowing down. It is the turn of Hinduja group to foray into real estate and with a land bank worth over Rs 100 crore it probably makes a lot of business sense.
Hinduja TMT conducted first AGM post de-merger of its BPO and IT businesses, Hinduja TMT not only sported a new name-Hinduja ventures, it also unveiled brand new plans.
Hinduja TMT will also develop real estate projects in India, first of which will kick off in Bangalore in the next six months where it holds land worth over Rs 100 crore.
The Medicare JV with Dubai world is all set to take off with an initial investment of Rs 200 crore and more importantly Hindujas are getting ready for yet another listing, its media entity is all set to hit the capital markets and lock horns with Zee's WWIL.
"The stage has come, this company will go to the markets by next year, the other listed entity WWIL has a market cap of Rs 1,000 crore. Despite negative margins, financially we are better off and profitable, so we expect good valuations from shareholders," said A P Hinduja, Chairman, Hinduja Ventures.
But that is not all, there is over Rs 500 crore of cash that the company is sitting on which will be utilised by spinning off new ventures.
"We are planning half a dozen new ventures, in next few weeks you will hear one or two announcements, this year is going to be about new ventures," said A P Hinduja.
And if Hinduja TMT is on the roll, how can the BPO and IT company HTMT global solutions be left behind, the company has set aside $100 million of cash to make acquisitions to ramp up its operations.
"We are looking at both voice and non voice companies across verticals wherever the ROI is attractive and the price point makes sense we will take that option, US, Canada and UK are the preferred geographies," said Ramkrishna Hinduja, Co-Chairman, HTMT Global Solutions.
Post de-merger, for Hindujas its all about spinning new ventures and ramping up the existing ones. Investments and acquisition are all part of the promise to shareholders. How much of it really translates on the ground is something that we will have to wait and watch for.
Source : NDTV.com, India