Puravankara To Infuse Rs 350Cr In Kolkata

Bangalore: Puravankara Projects, a Bangalore-based real estate company, mulls to take up 2.58 million square feet residential development in Rajarhat in Kolkata, with an investment of Rs 350 crore. The company, said that the Kolkata project was being executed via a joint venture company, Keppal Purvankara Development Ltd. In this project, Purvankara will have 36.26 per cent economic interest of the 2.26 million sft of saleable area. Besides, Keppal Purvankara Development Ltd has taken up two projects in Bangalore. The first project in the JP Nagar area in the city is under development whereas the second is yet to begin.

In Chennai, Puravankara has forayed into an MoU with Galaxy Properties for the joint development or purchase of 43.56 million sft of land. Purvankara is also ready to take up first overseas project in Colombo, Sri Lanka. The company holds a land bank of 94.6 million sft of saleable area, of which the company owns about 42.77 million sft of saleable and about 6.50 million sft is owned by subsidiaries. The company through entities other than its subsidiaries owns the rest 15.71 million sft. For the fiscal ended March 2007, the company reported a net profit of Rs 130.40 crore on a total revenue of Rs 416.90 crore.

FII Activity On 31-07-2007

The gross equity purchased was Rs.3,677.30 (in crores), and the gross debt purchased was Rs 0.00. The gross equity sold was Rs 4,899.70 (in crores), and the gross debt sold was Rs962.50 (in crores). The net investment of equity was -1,222.40 (in crores) and the net debt investment was -Rs962.50 (in crores).

FII Activity On 30-07-2007

The gross equity purchased was Rs.4,519.30 (in crores), and the gross debt purchased was Rs 9.80. The gross equity sold was Rs 4,271.10 (in crores), and the gross debt sold was Rs724.50 (in crores). The net investment of equity was 248.20 (in crores) and the net debt investment was -Rs714.70 (in crores).

Cisco To Invest $150 Mn In Vmware

Cisco Systems Inc is buying a $150 million stake in virtualization software maker VMware Inc, becoming the second technology giant this month to put a major investment in the company as VMware prepares to go public.

Cisco will own 1.6 per cent of VMware''s common stock when the investment closes, the companies said in a joint statement Friday. They will also collaborate on joint product development and marketing.

Earlier this month, Intel Corp., the world''s largest semiconductor company, also announced it will make a major investment in Palo Alto-based VMware. Intel said it will pay $218.5 million, giving it 2.5 per cent of VMware after the initial public offering.

Cisco and VMware said one of the goals of the investment is to speed the adoption of VMware''s software on computers using Cisco''s networking gear. San Jose-based Cisco is the world''s largest maker of the routers and switches that direct data over computer networks.

DLF To Put In Over Rs 6,000 Cr In Gujarat

Mumbai/ Ahmedabad: DLF Ltd, Delhi-based real estate major, has decided to put in over Rs 6,000 crore in Gujarat in next 2-3 years. The company would be taking projects like IT parks, residential, retail and other projects through this investment. It is already investing Rs 3,000 crore of these for setting up three IT Parks, one each in Gandhinagar, Ahmedabad and Vadodara. Moreover, the company is interested in investing for port, airport and other infrastructure projects in the state. DLF is eyeing major cities of Gujarat like Ahmedabad, Vadodara, Surat and Rajkot for these projects. Spread across an area of 25 acres, the IT Park at Gandhinagar is expected to be completed in 18 months, with the first phase to be completed in nine months. To be built at an investment of over Rs 800 crore, the IT Park has received a formal status of a special economic zone (SEZ) and is expected to generate employment for around 30,000 persons. The real estate company earned a turnover of around Rs 3,000 crore in the 1st quarter and is expecting to grow by over 20 per cent. With diversification in mind, DLF has recently entered into a JV with USA-based Prudential Insurance for introducing several financial products including life insurance. The company, with a stake of 74 per cent in the JV, has applied to IRDA and is expecting a license soon in the current fiscal.

ICICI Venture, Indivision Acquire 20-Pc In Tops For Rs 175 Cr

ICICI Venture Funds Management, a leading private equity player, and Future group''s private equity arm - Indivision, have together bought around 20% stake in Tops Security, the flagship of the Tops Group, for Rs 175 crore. ICICI Venture has put in Rs 110 crore while Indivision invested Rs 65 crore in the Mumbai-based security service provider.

The deal is the first-ever private equity investment in the company, majority of which is owned by the initial promoters, the Nanda family. Rakesh Jhunjhunwala, a leading investor holds 16% stake in the company.

With a turnover in excess of Rs 260 crore, Tops Group is one of the leading brand in the Indian security industry, and is growing at CAGR of about 50%, compared to the average growth rate of 21% in the domestic security market. Tops Group''s activities span across manned guarding, investigations, cash management services, special security squads for executive protection, event security management, copyright protection, facility management, advanced training, security audits, integration of security equipment and emergency response.

FII Activity On 27-07-2007

The gross equity purchased was Rs.3,205.60 (in crores), and the gross debt purchased was Rs 19.90. The gross equity sold was Rs 3,264.80 (in crores), and the gross debt sold was Rs225.60 (in crores). The net investment of equity was -59.20 (in crores) and the net debt investment was -Rs205.70 (in crores).