Rajeswari Foundations Set To Create Integrated-Campus in Chennai
Rajeswari Foundations Limited (RFL), theChennai-based construction company, having a unique track record and expertisein building independent bungalows, is all set to create integrated-campus liketownships in Chennai, marking its foray into infrastructure development. Thecompany has tied-up with a Mumbai-based civil, engineering and electricalcontract company to introduce cutting edge technologies in project development.
RFL’s first township iscoming up at Singaperumal Koil (near Mahindra City, Chingleput) at a totalbuilt up area of 7.20 lakh sq ft. Conceived as an integrated-campus withworld-class amenities for shopping, education, entertainment and healthcare, thetownship will address the unique work and lifestyle requirements of software professionalsand non-resident Indians.
The first phase of thetownship, coming up in 3.60 lakh sq.ft, will house 15 bungalows, each with a builtup area of about 1500 sq.ft., backed by state-of-art telecommunication networks,transportation facilities, school, health club, swimming pool and multiplexes. Thetownship will draw power from the state grid with 100% on site power backup.
“There is huge rolefor private capital and management in infrastructure projects. We have ambitious plans for creating townships inChennai that would boast of high-class infrastructure andhigh-quality construction with adequate green spaces,” said-Mr. Ramamurthy, Managing Director.
The company has clockedabout 19 per cent rise in net income for the financial year ended 31st March, 2009 atRs 62.69 lakhs againstRs 54.55 lakhs last year. The totalincome rose to Rs. 1014.30lakhsup from Rs. 976.61lakhs,representing a 4% increase. Thecompany’s board has recommended Rs 1.10 per share (11%) dividendfor the financial year 2008-09, as compared to Rs 1.00 (10%) the previous year.Rajeswari Foundations hadearned revenue of Rs 1011.30lakhs and profit before tax of Rs 172.26 lakhs from constructing independent bungalows.
To reflect itslong-term business interest, RFL will be rechristened as RajeswariInfrastructure Limited. The Registrar of Companies has confirmed theavailability of the new name and the board of the company is expected to pass aresolution confirming the name change.
