Thursday, March 31, 2011

Kumar Builders Eyes $300m PE Funding in domestic and overseas market.


Kumar Builders has postponed plans for initial public offering and know Kumar Builders are in talk with private equity firms to raise around $300 million over 2011-12. The Pune-based real estate firm is creating special purpose vehicles (SPVs) for each of its projects, and plans to sell 26 per cent to PE firms in each SPV.

Kumar Builders will hive off 26 per cent stake of each project to private equity players for raising the fund.

We hope to complete the process before next fiscal-end,” Lalit Kumar Jain, chairman of Kumar Builders, told Financial Chronicle.

The company is in talks with several PE players both in the domestic market and overseas market for raising funds, according to him.

Jain said the company has postponed plans for IPO for the time being as market sentiment is not that bullish. Kumar Builders, had filed an application for IPO in 2009 to raise around Rs 450 crore in 2009 but later deferred the plans due to adverse market conditions.

The company will launch one residential project in Kalina, one in Vile Parle (East) and another in Ghatkopar, each project counting 100 flats. It will also launch one special economic zone in Hinjawadi, in Pune. The total investment for the projects will be around Rs 1,050 crore, according to Jain.

In February, the company raised $55 million from Dutch equity firm FMO.

"The $55 million which we raised recently will also be utilized for the new residential and SEZ projects that we are launching in the next quarter," Jain said.

There is liquidity crunch in the market and raising funds has become difficult for real estate
companies as banks turned extremely cautious. "These projects are expected to be completed in next seven years," Jain said.next seven years," Jain said.

Friday, March 18, 2011

Kumar Shantiniketan Residential Project in Pune by Kumar Builders

Kumar Shantiniketan


Kumar Shantiniketan is miles away from the polluted modern world, yet snuggling close to comfort and  convenience on Baner - Pashan Link road, stands SHANTINIKETAN. The only mega township in the neighborhood housing 375 luxury flats, Shantiniketan is built on the ethos of Rabindranath Tagore's  world renowned Shantiniketan. A veritable  green  paradise  with  an  abundance  of  water  bodies,  this  modern
edifice enjoys the best comforts of the current century and of nature as well.

Kumar Builders Shantiniketan Project Details




Developer


Location

  
Baner, Pune

Number of Flat

  
140 Flat
Area of Flats
Min 940 sq.ft.
Max 1420 sq.ft

Style


2 and 3 BRHKD Flat


Cost per sq.ft


Rs. 2700
Appox Total Cost
Rs. 25.38 Lacs to Rs. 38.50 Lacs
Launch Date
Mar-06
Completion Date
Jan-07
Property rates
around the project
area (per sq.ft.)



Rs. 2000- Rs.3000 per sq.ft.
Rental rate around
the project area
(per sq.ft.)



Rs. 15

Amenitie
Fully Fitted Kitchen, A/c
Rooms, Pool, Squash Court,
Club, Covered Parking, High
Precision Security Systems









Sunday, March 13, 2011

Kumar Builders Chairman Mr. Lalit Kumar Jain becomes the new president of CREDAI(Confederation of Real Estate Developers' Associations of India)


One of the well known name in Indian Real Estate Mr. Lalit Kumar Jain has been elected as a new president of CREDAI on March 10th 2011. Mr.Jain is also the chairman and managing director of KUL formerly known as Kumar Builders.  He is also the president of Promoters Builders Association of Poona(PBAP).

Earlier Mr.Jain was the vice president of CREDAI.  He is been associated with CREDAI right from its inception.

With His company KUL(kumar builders urban development limited) Motto-"We Build Trust"-  he practices what he preaches. His company Kumar Builders quickly became synonymous with quality real estate of pune.  In 1999, Mr. Lalit Kumar jain started with development of 35,000 sq ft and within five years he delivered 1.4 million sq ft.

Kumar Builders has recently been rechristened as Kumar Urban development limited to give it new identity to change with the changing times.  Kumar Builders has so far developed 70 million sq ft with 9 million sq ft of city centre projects, with focus on pune and mumbai.

To know more visit their website KUMAR BUIlDERS....