JAIN HOUSING RECEIVES Rs. 220 CRORES FUNDING FROM GIC PVT LTD, SINGAPORE’S SOVEREIGN WEALTH FUND

JAIN HOUSING RECEIVES Rs. 220 CRORES FUNDING FROM GIC PVT LTD, SINGAPORE’S SOVEREIGN WEALTH FUND...!

ð  Jain Housing to develop high end projects in Chennai through the funding

ð  With the turnover of Rs. 250 crores in 2013-14, the company is aiming for a 10% growth in the upcoming financial year

Jain Housing & Construction Limited, one of the leading real estate player in Chennai has received funding to the tune of Rs. 220 crores from Singapore’s GIC Pvt. Ltd. 

With this funding,Jain Housing will develop/ complete high end residential projects in the city’s IT corridor, OMR namely Jains’Inseli Park in Padur Village and Jains’ Pebble Brook (Phase I & Phase II) in Thoraipakkam. With the development potential of over 2.2 million sq.feet, these projects will be completed by 2018.

Sandeep Mehta addressing the media

Jain Housing which has completed a total sq. feet area of 10,82,211 sq. feet through its various residential projects in Chennai in 2014, has more than 15 projects at different stages of construction to be completed by a span of 4 – 5 years. The real estate developer being an established player in the city, is focusing to expand the presence to other cities PAN India.

Speaking on the occasion, Mr. Sandeep Mehta, Managing Director, Jain Housing & Construction Limited says, “We are excited to be associated with GIC, leading global investment organization with strong vision and values. This fresh funding from GIC will help us in developing high end residential units, segment which is in demand in the city. 2014 was a successful year for us and we are looking forward to carry the momentum this year with this new funding from GIC. With more than 175 completed residential projects to date, we are targeting to complete around 20 lakh sq.feet of development in 2015. We see this new funding from GIC as a start to a rewarding long-term relationship.”

Jain Housing is planning to launch 3 to 4 new projects in 2015 targeted towards middle income group in Chennai and other cities in 2015. The company is also open to more funding from investors in the future either at the entity level or for any specific project by infusing Equity / Structured Debt.

About Jain Housing..

With 28 years of excellence in the field of real estate and construction, Jain Housing stands for trustworthiness, reliability and innovation across all domains. Jain Housing Group is amongst the largest real estate developers in Chennai. 

Having completed over 175 projects spanning over 15 million sq. ft and with on-going projects of about 12 million sq ft. Jain Housing has a strong presence in the cities of Chennai, Bangalore, Coimbatore, Hyderabad, Cochin and Tirupur.

For further details, please contact

Mr. Rajinikanth                                                       Sakthi Prasanna/Ravi Shankar

Jain Housing & Constructions Ltd                          MSLGROUP

Tel – 044 2461 3011                                               Mob – 98842 77251/ 93828 87608

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