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Prestige Estates Projects Ltd, based in Bengaluru, is planning to develop a luxury housing project in central Delhi in partnership with a local realty firm. The company is also seeking more land in Delhi-NCR to build residential properties. Prestige Estates is already constructing a commercial project in Aerocity, Delhi, and has partnered with ACE group for a mid-income housing project in Sector 150 Noida. ....
Sameer Gehlaut, the founder of Indiabulls Housing Finance, has completely exited the company, according to Gagan Banga, VC & MD of the company. The de-promoterisation process under SEBI guidelines was completed earlier this year, and Gehlaut no longer holds any shareholding in the company. The company is also undergoing a transition process to a new identity, with the new name, Samman Capital, already approved by the Reserve Bank of India. The transition is expected to be completed by the end of the current quarter. ....
“There is going to be a capital infusion of about Rs 20,000 to 22,000 crore in Indiabulls. And that would be at a significant premium and will be book value accretive. Post that, once there is a clean management and a substantial capital, they have a very decent book size.” ....